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In paper we try to introduce an alternative framework of post-socialist study, which includes the knowledge of evolutionary and institutionally economy. We aimed at issues of terminology of post-socialist transformation and an overview of opinions on its development including spatial aspects. Specifically, the question how to define and date the final stage of transformation process was emphasized. We assumption that, post-socialist transformation is considered to be a temporary stage divide into several period, which is followed by societal development in conditions of post-industrial society.
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The financing of higher education has become a long-range, crucial topic for many governments worldwide. As a part of it, there has also been a big dis¬cussion about the possible participation of private sources in financing of the tertiary education in the Czech Republic. The objective of the paper is to analyze and test students’ expectations about their future incomes and to bring a new quantitative argument to the discussion about the implementation of tuition fees at Czech public universities. The authors analysed data from a large survey among students of selected faculties of economics as well as factors which might influence students’ income expectation. The findings provide inspiring compa¬rison and confirm high returns from investment in higher education.
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This paper empirically looks at the contribution of labour force education to the speed at which relatively poor economies are converging to the income per capita level of richer economies. While there is a bulk of empirical studies in addressing the links between human capital and eco-nomic growth, this paper makes an endeavour to use a less frequently used proxy for human capital, i.e. the education of the labour force at various levels and investigates whether we can explain cross-country variation in economic growth with variation in labour force education. Using the data of EU-26 countries in the period (1995 – 2009) and based on a three-period data and five-year interval non-overlapping panel, the paper finds that labour force education helps countries to grow at a faster rate.
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In Slovak economy a structure of income (on macro-level) has formed, which is far from the usual income structure in advanced economies. The wage share significantly lagged (and declined further). The wages were largely substituted by mixed income of self-employed persons. This kind of income restructuring is associated with risks for some segments of public finance (especially for sectors financed from social contributions). While the economic performance level converged gradually to the level of most advanced economies, the income structure was more on the path of divergence. Changes in the income structure were driven by shifts in sectoral composition of the economy (e.g. expansion of branches with low wage share), but also by technological progress within sectors and branches (e.g. growth of capital intensity).
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The review concerns a textbook for the study of macroeconomics at economics and non-economics institutions alike. This publication corresponds to canons of contemporary macroeconomics in terms of both theories and the forms in which they are presented. In a competition held by the National Board of the Polish Economic Society, the book received the award for the best textbook published in Poland in the years 2009–2011.
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The article presents the capital growth model created by M. Dobija (2007), concentrating on one of its most important components ‒ the economic constant of the potential growth of capital. It then looks at the most convincing corroboration of the existence of this constant, namely research conducted by B. Kurek (2007). Presenting this research in the context of the history of economics and economy as a whole allows the author to show that there is insufficient evidence to grant the assumptions which led Dobija and Kurek to conclude that such an economic constant exists. The author concludes that limits in the past as well as in the future should disallow economists from stating that such a constant exists.
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This paper gathers different views of economists on the causes and effects of financial crises. It also examines the position of professors of economics on the path chosen by contemporary economics. The article briefly discusses the causes of the global economic crisis of the 21st century, running them through Hyman Minsky’s model. It also looks at the effects of the crisis along with the actions taken by different institutions in response to the crisis. The main purpose of the paper is to look closer at theoretical views and arguments presented by economists including Hyman Minsky, Paul Krugman, Charles Kindleberger, and Joseph Stiglitz.
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Proper risk management ‒ based on the theory of behavioural finance ‒ will lead a rational investor to make the right choice preferences while estimating the minimal level of risk and receiving the greatest rate of return. One of the effects of risk management is diversification, which is also one of the main means of reducing the global level of risk. Diversification also contributes significantly to improving the long-term rate of return on an investment. Different utility functions are related to the tendency of investors to connect the level of risk and diversification with the level of expected revenue. The maximising utility is proportional to the value of money. Risk management and diversification agree with the John von Neumann and Oskar Morgenstern model.
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The number of well-known firms joining the list of entities such as Enron, WorldCom, Sumitomo Corp., all of which lost millions of dollars as a result of inadequate operational risk management systems, increases dramatically with each passing year. This has increased the amount of interest in this marginalised aspect of risk. The quantitative estimation and measurement of operational risk proved necessary with the implementation of new operational risk management strategies in companies and financial institutions. Basel Committee on Banking Supervision recommendations, which request banks to use quantitative methods in their operational risk management are an additional motivation to use quantitative methods of estimating operational risk. This article reviews the most important quantitative methods of estimating and measuring operational risk.
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The paper discusses the viability of the decoupling hypothesis, which states that the performance of emerging economies becomes relatively independent from the changes in developed economies, and empirically verifies this hypothesis in the light of global economic developments over the past decade. Despite a very influential paper by Kose, Otrok, and Prasad (2008), we argue that there is no evidence that decoupling between developed and emerging economies took place before the last global financial crisis. In fact, the case was quite the contrary ‒ ties between the two groups of countries strengthened during the crisis years. It seems that either decoupling never took place or the recent crisis began a new trend of re-coupling, which is the instance of emerging economies returning to a state of strong dependence on their more developed counterparts. At the same time it raises doubts as to whether the high rates of growth in emerging economies can be sustained in the face of slowing growth in developed economies. In terms of methodology, linear and quadratic de-trending were used to obtain stationary data, then non-cyclical movements were removed with the Christiano-Fitzgerald band--pass filter. The cyclical parts of real GDP time series were then subjected to spectral and co-spectral analysis.
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Review of the book “Metoda studium przypadku w edukacji biznesowej”, ed. P. Ammerman, A. Gaweł, M. Pietrzykowski, R. Rauktienė, T. Williamson (Bogucki Wydawnictwo Naukowe, Poznań 2012) Recenzja książki „Metoda studium przypadku w edukacji biznesowej”, red. P. Ammerman, A. Gaweł, M. Pietrzykowski, R. Rauktienė, T. Williamson (Bogucki Wydawnictwo Naukowe, Poznań 2012) The text is a review of the book Metoda studium przypadku w edukacji biznesowej [The case study method in business education], which is a summary of the project “Transfer of experiential and innovative teaching methods for business education” done under the auspices of The Leonardo da Vinci programme. The author of the review discusses the book, pointing out among its advantages a presentation of the case study method as an innovative tool for economic education that combines theory and practice by focusing on the personal and practical dimension of education. He also recognises its disadvantages, which include the failure to present the method’s weaknesses, due to a lack of reflection on the meaning of case study methodology in the context of the functions and tasks facing universities.
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The research described in the paper explores the links between political and economic processes. The correlation was detected at the international level in the politics and economics of the United States. U.S. foreign policy viewed in terms of the military constitutes the political process, while the economic process is the macroeconomic situation in the U.S. economy. Political events and economic phenomena are presented in the shape of cycles, which are then examined in terms of correlations: first intuitively and perceptually, then econometrically.
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This paper presents the results of a study conducted in Slovenia between January and June 2011 in Slovene micro-enterprises. We used a structured questionnaire with some demographic questions about business computerization, the owner’s characteristics and some questions about the level of awareness of Cloud computing and what significance have the listed properties of Cloud computing services for owners to hire Cloud solutions. The results show that almost two thirds of micro-enterprises did not know anything about Cloud computing at that time. One of the most important information source on Cloud computing was the Chamber of Commerce and Industry. Micro-enterprises showed the highest interest in the possibility of hiring IaaS – data store capacities and backups. As the most important characteristics they highlight reliability, security and performance of Cloud solutions. The results of this study were compared with the outcome of some other comparable studies, and some recommendations for micro-enterprises are given.
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An approach to factory automation is the basis for a case study of Computer Integrated Manufacturing and Management systems (CIMMs). The paper presents some experience in large-scale systems and the current state-of-the-art for the domain. A feasible approach is proposed, based on prospective user expectations and the system development with the use of so-called first thread for which the standards facilitating the development of subsequent systems should be developed, and people acquainted with both manufacturing and management problems should be educated. There is also depicted some research work intended for facilitating the design and implementation of future CIMMs.
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The paper presents a prototype application – Spatial Visualization Tool (SVT), that can be used to visualize data from different kinds of Business Information Systems and external sources such as the Internet and document bases in the form of an interactive map. The concept of the paper is based on the assumption that all business data can be visualized in a way analogous to geographic maps. The manner of such a visualization can be very legible and facilitate business decision-making when it comes to analyzing large amounts of data. The first part of the paper introduces the reader toselected aspects of Geographic Information Systems methodology and briefly presents the algorithm of SVT. The second part explains the theoretical algorithm of acquiring data and performing a spatial visualization. The last section of the paper covers the practical example of SVT application to select candidates for a job. The prototype tool was constructed using Microsoft Excel with Visual Basic for Applications. We also present the idea to extend the functionality of SVT using semantic Web technologies for recognizing data sources and types to facilitate the automation of data visualization.
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An essential problem for enterprises is the planning and the organization of the obtaining all types of resources process, defined as sourcing, and in the case of the utilization of web-based technologies, as e-sourcing. The article presents definitions of basic notions, such as: sourcing, e-sourcing, strategic sourcing and strategic e-sourcing, the concept of resource-based view and classification of resources. The analysis also included the development of supply processes realized on-line. The purpose of this paper is to use a resource-based view to answer management’s questions: whether e-sourcing as the process of sources and means of planning supply into all resources of the enterprise is a process of a strategic meaning for the enterprise? How to organize this process and which web-based solutions technologies can be used in its effective realization? The organizational model for strategic e-sourcing was proposed in which for each of the four distinguished stages, the utilization of web-based technology solutions was suggested.
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The rapid growth in e-commerce applications via the Internet in recent decades is the reason why both small office and corporation users have a need to protect their data transactions through the Internet. These data transactions include sensitive document transfer, digital signature authentication and digital data storage. The use of digital steganography for information security in various e-commerce applications through the Internet are discussed in detail in this article. These applications include digital signature authentication and validation of electronic documents, digital data storage as well as secure communication of multimedia data through the open channels.
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The paper is devoted to a problem of temporal reasoning for (among others) managerial tasks. It shows the complexity of economic environment, which leads to representational problems. Next the features of a temporal reasoning systems are pointed out, and finally one of such systems – a PROTON one – is presented and critically discussed.
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