Template-Type: ReDIF-Paper 1.0 Author-Name: Ayse Altiok-Yilmaz Author-Name-First: Ayse Author-Name-Last: Altiok-Yilmaz Author-Email: ayse.yilmaz@eas.bahcesehir.edu.tr Author-Workplace-Name: Bahcesehir University Author-Name: Elif Akben-Selcuk Author-Name-First: Elif Author-Name-Last: Akben-Selcuk Author-Email: elif.akben@khas.edu.tr Author-Workplace-Name: Kadir Has University Title: CEO TURNOVER AND FINANCIAL PERFORMANCE: EVIDENCE FROM TURKEY Abstract: The impact of corporate performance on the likelihood of voluntary or disciplinary CEO turnover has been a central research topic in finance. To date, the majority of the studies in the area focused on developed countries and documented a negative relationship between the two variables. However, considering institution differences and different corporate governance mechanisms in emerging markets, the results could differ in other countries. The objective of the present study is to investigate the relationship between CEO turnover and financial performance in an emerging market, Turkey. The sample includes non-financial firms listed on Borsa Istanbul and the period of analysis covers the years 2005-2014. A firm-year is defined as a turnover year if there was a change in the name of the CEO as announced in the company news. The empirical results are consistent with prior literature and indicate that financial performance is negatively associated with the probability of CEO turnover. The effect size is stronger in the case of disciplinary turnovers and findings are robust to alternative performance measures. These results suggest that corporate governance mechanisms are not ineffective in Turkey. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 1-1 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=001&rid=6657 File-Function: First version, 2016 Number: 4306657 Classification-JEL: Keywords: CEO turnover, financial performance, Turkey. Handle: RePEc:sek:iacpro:4306657 Template-Type: ReDIF-Paper 1.0 Author-Name: Kang Baek Author-Name-First: Kang Author-Name-Last: Baek Author-Email: kbaek@hanbat.ac.kr Author-Workplace-Name: Hanbat National University Title: Do vertical relations matter to fund flows under oligopolistic market structures? Abstract: Uninformed investors preferentially select distribution companies to purchase funds that suit their investment objectives, because they cannot evaluate each product themselves. Thus, the investment decision depends significantly on their chosen fund distributor?s recommendation. It may lead to conflicts of interest between fund distributors and their customers because distribution professionals and their affiliated financial companies have an incentive to prioritize their profits over investors under oligopolistic market structures. This study demonstrates that money flows into a fund, fund management company and fund distributor have significantly different patterns according to distribution channels, and this distinction is affected by vertical relations among financial companies. Money flows from affiliated distribution channels are less sensitive to the determinants of investment decision compared with non-affiliated ones. This result contributes by providing the insight that changes in the incentive structure of distribution channels result in different outcomes in terms of investor protection and market competition under oligopolistic distribution structures. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 2-2 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=002&rid=6830 File-Function: First version, 2016 Number: 5306830 Classification-JEL: G20, G28, L40 Keywords: Fund Flow; Distribution Channel; Investor Protection; Oligopolistic Market Structure; Vertical Relation. Handle: RePEc:sek:iacpro:5306830 Template-Type: ReDIF-Paper 1.0 Author-Name: Pawe? Baranowski Author-Name-First: Pawe? Author-Name-Last: Baranowski Author-Email: baranowski@uni.lodz.pl Author-Workplace-Name: University of Lodz Author-Name: Zbigniew Kuchta Author-Name-First: Zbigniew Author-Name-Last: Kuchta Author-Email: zbyszek.kuchta@gmail.com Author-Workplace-Name: University of Lodz Title: Changes in nominal rigidities in Poland - a regime switching DSGE perspective Abstract: We estimate a dynamic stochastic general equilibrium model that allows for regimes Markov switching (MS-DSGE). Existing MS-DSGE papers for the United States focus on changes in monetary policy or shocks volatility, contributing the debate on the Great Moderation and/or Volcker disinflation. However, Poland which here serves as an example of a transition country, faced a wider range of structural changes, including long disinflation, EU accession or tax changes. The model identifies high and low rigidity regimes,with the timing consistent with menu cost explanation of nominal rigidities. Estimated timing of the regimes captures the European Union accession and indirect tax changes. The Bayesian model comparison results suggest that model with switching in both analyzed rigidities is strongly favored by the data in comparison with switching only in prices or in wages. Moreover, we find significant evidence in support of independent Markov chains. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 3-3 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=003&rid=6955 File-Function: First version, 2016 Number: 5306955 Classification-JEL: C11, E31, J30 Keywords: nominal rigidities, Markov switching DSGE models, bayesian model comparison Handle: RePEc:sek:iacpro:5306955 Template-Type: ReDIF-Paper 1.0 Author-Name: Nicolene Barkhuizen Author-Name-First: Nicolene Author-Name-Last: Barkhuizen Author-Email: nicolene.barkhuizen@nwu.ac.za Author-Workplace-Name: North-West University Author-Name: Nico Schutte Author-Name-First: Nico Author-Name-Last: Schutte Author-Email: nico.schutte@nwu.ac.za Author-Workplace-Name: North-West University Title: I care about my job, but I am not inspired. Exploring workplace bullying of talented academics. Abstract: The importance of talent and talent management in higher education institutions is well documented. Some research evidence suggest that talent management, when effectively applied, can lead to positive work related outcomes for academic staff such as work engagement, job satisfaction, motivation and productive organisational energy. For the institution, effective talent management can result in increased quality service delivery and organisational performance. What has not been researched is the subtle psychological underpinnings and work relationship experiences of talented academic staff in the South African higher educational context. The main objective of this research was to explore incidences of workplace bullying that affect talented academic staff members in higher education institutions and the consequences thereof.A qualitative research approach was followed. Data was gathered by means of semi-structured interviews with talented academics from selected South African higher education institutions (N=12). The sample group was representative of various ethnic groups, gender groups, age groups and job levels. The data was analysed using theme (content) analyses.The findings revealed many themes relating to the type of bullying that academic staff members were experiencing. Some of the most prominent themes included unfair discrimination, victimisation, disregard for academic position, unfair promotion, sexual harassment, racism, bullying from students and bullying from administrative staff. The participants in particular indicated feelings of helplessness as higher educational policies do not protect them against workplace bullying. Other participants also highlighted that the power play in their institutions and fear for victimisation prevent them from reporting incidences of bullying. The findings further showed that academics experience high levels of work stress, burnout and depression as a result of their bullying experiences. Academic staff also indicated suicide ideation as a result of the helplessness and powerlessness to cope with unfair discrimination and victimisation practices. All the participants in this study indicated that they strongly considered quitting their job as a result of workplace bullying.This study presented an in-depth analyses of the type of workplace bullying that occurs in higher education institutions and its consequences. The competitiveness and sustainability of higher education institutions depend of well-qualified and talented academic staff. Without key and competent academic staff, no higher education institution will be sustainable over the long term. Therefore it is strongly advised that higher education institutions implement policies and practices that will prevent incidences of workplace bullying among talented academic staff. Length: 2 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 4-5 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=004&rid=6939 File-Function: First version, 2016 Number: 4306939 Classification-JEL: J24 Keywords: Academic staff, Higher education Institutions, Talent Management, Workplace Bullying Handle: RePEc:sek:iacpro:4306939 Template-Type: ReDIF-Paper 1.0 Author-Name: Nicolene Barkhuizen Author-Name-First: Nicolene Author-Name-Last: Barkhuizen Author-Email: nicolene.barkhuizen@nwu.ac.za Author-Workplace-Name: North-West University Author-Name: Malebogo Mogotse Author-Name-First: Malebogo Author-Name-Last: Mogotse Author-Email: nbarkhuizen@gmail.com Author-Workplace-Name: North-West University Title: Management perceptions on the effectiveness of disciplinary measures in a provincial government department Abstract: Misconduct by public servants is on the rise and the South African government is losing millions of rand as a result of misconduct. Acts of misconduct such as absenteeism without permission, theft, fraud, the failure to carry out lawful instructions, and participation in unprotected strikes are some of the dominant acts of misconduct committed by public servants. At face value it appears that the disciplinary measures applied to deal with employee misconduct in government are effective. Evidence however suggest that in many cases public service organisations do not comply with the disciplinary codes for misconduct. Against this background the aim of this research was to explore management perceptions on the effectiveness of disciplinary measures in a provincial government department. More specifically this research addressed three research questions:?To what extent are disciplinary procedures effectively applied in the department??What are the consequences of non-compliance with disciplinary procedures in the department??What mechanisms can be used to improve disciplinary procedures in the department?A qualitative approach was followed with data gathered by means of semi-structured interviews. The population in the study consisted of managers (N=6) who are responsible for managing discipline in their respective units. Theme analyses were used to analyse the data. The findings showed that the participants had negative perceptions about the effective application of disciplinary procedures. Some of the participants felt that misconduct procedures were not custom made and could thus not effectively deal with misconduct in the Department. The unavailability of chairpersons, witnesses and employer representatives, are some of the factors that contributed to the long periods of time in which misconduct cases were dealt with. The findings reveal both individual and organisational outcomes of non-compliance with disciplinary processes procedures. All the participants were in agreement that non-compliance with misconduct procedures has a devastating impact on the reputation of the institution and employer brand. The participants also mentioned the impact of ineffective misconduct procedures on work related behaviours of employees. Finally most of the participants highlighted the importance of competent leadership in executing disciplinary procedures. In conclusion, our findings propose the repositioning of government structures to minimize incidences of misconduct and counteract the adverse impact of misconduct on individuals and organisations. Length: 2 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 6-7 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=005&rid=6951 File-Function: First version, 2016 Number: 4306951 Classification-JEL: J24 Keywords: Disciplinary actions; Government institutions; Misconduct, Handle: RePEc:sek:iacpro:4306951 Template-Type: ReDIF-Paper 1.0 Author-Name: Bernard Beaudreau Author-Name-First: Bernard Author-Name-Last: Beaudreau Author-Email: bernard.beaudreau@ecn.ulaval.ca Author-Workplace-Name: Université Laval Title: A Critique of the General Purpose Technology Framework Abstract: This paper presents a critique of the General Purpose Technology (GPT) framework. It argues that the GPT framework is fundamentally flawed as an approach to understanding growth as it focuses on what are input production technologies (hereafter input technologies), and not on the associated primary inputs and resulting outputs. Computers don't produce output; rather, they produce information which is necessary for the production of output. Dynamos don't produce output, rather they transform prime movers (steam, hydraulics, fossil fuels) into electricity which is transmitted to machines that ultimately produce output. Steam engines don't produce output; rather, they too transmit prime movers (fossil fuels) into output. The problem with the GPT framewoek lies with the implicit assumption that there exists a one-to-one relationship between the intermediate input and the primary input. We will show that this assumption was violated in all three classic GPT cases, which explains what Paul Davd referred to as the "electricity paradox" and what Robert Solow referred to as the "information paradox." We then proceed to present an alternative framework based on the concept of enabling technologies. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 8-8 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=006&rid=6859 File-Function: First version, 2016 Number: 5306859 Classification-JEL: O31 Keywords: Growth, General Purpose Technologies, Information Paradox Handle: RePEc:sek:iacpro:5306859 Template-Type: ReDIF-Paper 1.0 Author-Name: Nicoleta-Elena Buzatu Author-Name-First: Nicoleta-Elena Author-Name-Last: Buzatu Author-Email: nicoleta.buzatu@ucdc.ro Author-Workplace-Name: ?Dimitrie Cantemir? Christian University of Bucharest Title: Mediation in criminal cases Abstract: Mediation can solve conflicts arising from crimes which, under the Romanian law, the withdrawal of the preliminary complaint or the reconciliation of the parties removes criminal liability. Also, mediation can solve any civil side of the criminal file or of any type of crime. If, after the mediation agreement, the defendant covers the damages, he benefits from attenuating circumstances. The parties may resort to mediation in criminal prosecution stage and during the trial. If mediation is accepted by the parties, they will be ensured their right to legal assistance or to an interpreter, if required. To solve criminal cases, under the agreement concluded as a result of mediation in criminal cases, the parties are obliged to submit to the judicial the mediation agreement authenticated by a notary public or to appear before the judicial body to take note of their will, under the mediation agreement. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 9-9 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=007&rid=6987 File-Function: First version, 2016 Number: 5306987 Classification-JEL: K14, K41 Keywords: mediation, mediation agreement, criminal cases, criminal liability, preliminary complaint, reconciliation of the parties Handle: RePEc:sek:iacpro:5306987 Template-Type: ReDIF-Paper 1.0 Author-Name: Muammer Canbaz Author-Name-First: Muammer Author-Name-Last: Canbaz Author-Email: muammercanbaz@hotmail.com Author-Workplace-Name: Selçuklu Anatolian School, Konya, Turkey Author-Name: Mehmet Acet Author-Name-First: Mehmet Author-Name-Last: Acet Author-Email: macet@kutahya.edu.tr Author-Workplace-Name: Dumlup?nar University Title: INVESTIGATION OF CREATIVITY CHARACTERISTICS TAEKWONDO COACHES Abstract: Objective: The objective of this research; taekwondo branch in Turkey is to determine the characteristics of creativity coach.Methods: We used descriptive research model. The sample records according to the TTF, which make for a visa in 2015, has established an active Taekwondo coach in 1044. Data collection "How Father to scale" is used. After the data evaluation of the normal distribution suitability of Mann-Whitney was used test and Kruskal-Wallis H test. In the implementation of analysis was used for IBM SPSS Statistics 21 0 program. P for statistical significance <0.05 criteria were adopted.Results: According to TFA record 823 men 221 women total 1044 years as manager and gender is examined 30 years and under 217 (26.4%), male 99 (44.8%), women aged 31 to 40 332 (40.3%) men 72 (32.6%) of 199 women between 41 and 50 years of age (24.2%) male 47 (21.3%) women aged 51 and over 75 (9.1%) male 3 (1.4%) women with visas in 2015. The creative features according to demographic characteristics of coaches who participated in the study were examined, there was no significant difference according to gender and marital status (p> 0.05), significant differences were found according to age groups. The difference was originated from 51V to over -30 years old and younger between groups (p <0.05). The distribution of the income level of creativity of the coach features a significant difference was found when it examined. It was found that the difference stems from the 3001 TL and over age group (p <0.05).Conclusion: According to findings obtained from the study of women 51 years and older individuals, it was concluded that more creative than those with higher income levels. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 10-10 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=008&rid=6962 File-Function: First version, 2016 Number: 5306962 Classification-JEL: Keywords: Taekwondo; coaching, creativity Handle: RePEc:sek:iacpro:5306962 Template-Type: ReDIF-Paper 1.0 Author-Name: Muammer Canbaz Author-Name-First: Muammer Author-Name-Last: Canbaz Author-Email: muammercanbaz@hotmail.com Author-Workplace-Name: Selçuklu Anatolian School Author-Name: Mehmet Acet Author-Name-First: Mehmet Author-Name-Last: Acet Author-Email: macet@kutahya.edu.tr Author-Workplace-Name: Dumlup?nar University Title: INVESTIGATION OF BURNOUT LEVEL TAEKWONDO COACH IN TURKEY Abstract: Objective: The objective of this research; In taekwondo branch in Turkey, in private and public clubs, also the provincial sports directorate, directorate of public education is to be determined and coaches who work burnout levels in private clubs.Methods: We used descriptive research model. The sample according to the TTF record, he has a visa for the year 2015, 319 Stage 1, 463 Stage 2, 197 Stage 3, 31 Stage 4, 31 Stage 4 and Stage 5 34 has a active Taekwondo coach in total of 1044. Maslach Burnout Inventory data collection (MBI) was used. Data for the study of the suitability of the Shapiro Wilk test was used for normal distribution. Compliance with the investigation of distributions received from Shapiro Wilk test was used. The comparison of groups which do not fit a normal distribution, the Mann-Whitney U test for conditions that group number two, Kruskal-Wallis H test for the group and on condition that it is used. The analysis has benefited from the implementation of IBM SPSS Statistics 21.0 program. Statistical significance: p<0.05 value criteria were adopted.Results: According to TFA record 823 men 221 women total 1044 years as manager and gender is examined 30 years and under 217 (26.4%), male 99 (44.8%), women aged 31 to 40 332 (40.3%) men 72 (32.6%) of 199 women between 41 and 50 years of age (24.2%) male 47 (21.3%) women aged 51 and over 75 (9.1%) male 3 (1.4%) women with visas in 2015. When the burnout scale according to the gender of the coaches surveyed lower size distribution is analyzed, burnout: emotional exhaustion and personal accomplishment dimensions of difference (p <0.05), Burnout: There was no difference in depersonalization size (p> 0.05). When coaches Burnout Inventory subscales distribution by marital status is analyzed, a significant difference was seen in all subgroups. Coach of the age groups with the burnout subscales emotional exhaustion and burnout scale with the level of income was a significant difference between personal accomplishment subscale (p <0.05).Conclusions: According to findings obtained from this study in men of average score of emotional exhaustion, in the 31-40 age group, in which the primary education level, and income level, which is higher in 1501-3000. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 11-11 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=009&rid=6971 File-Function: First version, 2016 Number: 5306971 Classification-JEL: Keywords: Taekwondo Coach, Burnout Level, Turkey Handle: RePEc:sek:iacpro:5306971 Template-Type: ReDIF-Paper 1.0 Author-Name: Stefan Carpenter Author-Name-First: Stefan Author-Name-Last: Carpenter Author-Email: stefcarp@indiana.edu Author-Workplace-Name: Indiana University Title: Avoiding Dysfunction: An Analysis of the Need for Shared Foundational Concepts in Polycentric Governance Abstract: Polycentricity is an increasingly important concept in natural resource governance, and is incorporated into a wide range of governance approaches. The term ?polycentricity? refers to a social system of multiple semi-autonomous decision centers having overlapping responsibilities and operating under an agreed-upon overarching set of rules. Polycentric systems hold the promise of better governance of natural resources, but their success is not guaranteed. Much remains to be learned about when and why such systems succeed or fail. To date, the vast majority of literature studying polycentricity has focused on successful governance regimes. While this focus is useful for identifying common factors that can contribute to the success of polycentric systems, it does not facilitate an understanding of which factors undermine successful polycentric governance. Therefore, in order to fully develop our understanding of polycentricy, it is also necessary to investigate incidents of unsuccessful governance. This paper investigates two polycentric systems in northern Namibia, both of which have experienced significant dysfunction arising out of internal conflicts between decision centers. The paper finds that, in each case, the conflict resulted from centers having ulterior motivations that caused them to make decisions that undermined collective governance efforts. The paper proposes that polycentric systems are less likely to succeed where their decision centers do not share a common foundational sense of purpose. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 12-12 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=010&rid=6905 File-Function: First version, 2016 Number: 5306905 Classification-JEL: Keywords: polycentricity, governance, wildlife, community-based resource management, Namibia, common-pool resource Handle: RePEc:sek:iacpro:5306905 Template-Type: ReDIF-Paper 1.0 Author-Name: Rui Coimbra Gonçalves Author-Name-First: Rui Author-Name-Last: Coimbra Gonçalves Author-Email: e.ruigoncalves@sapo.pt Author-Workplace-Name: Center of Classical and Humanistic Studies, Faculty of Arts and Humanities of the University of Coimbra Title: The past, contemporaneity and close posterity of Francisco Suárez on the discussion of the political rule Abstract: Since the elucidation displayed by the medieval authors, such as Saint Thomas Aquinas and Dante, on the purpose of the way to safeguard the common good, the monarchy was considered ideal as political system of governance in opposition to aristocracy and democracy. In the bosom of the Spanish Second Scholasticism and according in particular to a Jesuit author like Francisco Suárez, and his personal conception about the ruler based on limitation of powers by an ideal Res publica of citizens and the exercise of duties towards Church, the sovereign could be thrown down from his throne by reasons of political abuse of power competences and by means of recovery of legitimacy claimed by their peoples. There was the theory of the right King that could become a tyrant and then replaced by a new King or a righteous leader. The novelty here was for the XVIIth century the admission of the illegitimacy of governance due to reasons of power usurpation and the chance of plebiscite of a mighty leader, a kind of choice conceded to the population settled under his authority.Moreover, in order to define law Hugo Grotius proceeds like Suárez while combining two concepts in a same definition, those of power (potestas) and rule (lex). In his work of 1625 De jure belli ac pacis (On the law of war and peace), this concept results confined by Grotius to the simple notion of all things not classified as unfair. So it is unfair whatever could be blamed by the society of the beings endowed with reason.Suárez even anticipates the notion of social contract as it would be thought one century and a half later by Jean-Jacques Rousseau while allowing the first the admission of a kind of confessional rebellion against an impious prince. The only valid way in this level for Rousseau, as we can read in his essay On the social contract of 1762, would be the pact of association between the citizens and the state. In his turn, Suárez outlines that the popular consent to the ruler could be obtained by an original order or accepting a beneficial tyranny instituted as a mean of get away further kinds of oppression through a general plebiscite at a later period.So the aim of this study is to determine how Suárez led the discussion in the bosom of his intellectual tradition on the nascent modern political philosophy. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 13-13 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=011&rid=6966 File-Function: First version, 2016 Number: 5306966 Classification-JEL: Keywords: Scholasticism, Saint Thomas Aquinas, Francisco Suárez, Hugo Grotius, Political sovereignty Handle: RePEc:sek:iacpro:5306966 Template-Type: ReDIF-Paper 1.0 Author-Name: Tarcisio da Graca Author-Name-First: Tarcisio Author-Name-Last: da Graca Author-Email: tbdg@uqo.ca Author-Workplace-Name: University of Quebec at Outaouais Title: Capturing The Elusive Convexity Of The Relationship Between Acquirer?s Announcement Returns And The Cash Porti Abstract: We find empirical evidence that the acquirer?s announcement return is a U-shaped function of the cash portion of the payment in mergers and acquisitions (M&As), ceteris paribus. The convexity of this function has long been theoretically predicted in an asymmetric information model, but it remained elusive in empirical investigations. We argue that this elusiveness might have been due to insufficient statistical power of the univariate methods applied to test the convexity hypothesis. We study a sample of U.S. M&As from 1990 to 2008. We apply a structural M&A event study methodology that accounts for the interaction of two M&A effects: synergy (change in total value) and dominance (distribution of synergies between the parties). This interaction simultaneously determines the parties? announcement returns. In addition, we consider that the cash portion is an endogenous variable, as well (as the use of a mix of cash and stock as payment can be a form of risk sharing arrangement in two-sided asymmetric information model). Empirically modeling these interdependencies is the likely source of the extra statistical power that allows us to capture the convexity effect. We discuss the U-shaped function in terms of an interplay between two commonly cited motives for the use of different methods of payments: capital gains tax deferral and asymmetric information. All in all, we estimate the acquirer?s announcement return is the lowest when the payment consists of approximately 50 percent of cash. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 14-14 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=012&rid=6913 File-Function: First version, 2016 Number: 5306913 Classification-JEL: G14, G34 Keywords: event study, mergers & acquisitions, convexity Handle: RePEc:sek:iacpro:5306913 Template-Type: ReDIF-Paper 1.0 Author-Name: Olivier Damette Author-Name-First: Olivier Author-Name-Last: Damette Author-Email: olivier.damette@univ-lorraine.fr Author-Workplace-Name: BETA-CNRS Université de Lorraine Title: Renewable energy drivers: a novel econometric approach Abstract: The paper analyses the impact of some macroeconomic drivers (carbon emissions per capita, energy consumption, income, innovation, energy dependency, European directives...) on the use of renewable energy sources (Wind, Hydro, Biomass...) in a set of 24 European countries over the 1990-2015 period.We show that previous literature failed to take into account both non stationary issues and non linearity in panel econometric frameworks. Using very recent non stationary panel econometric methods (panel unit root tests with breaks and common factors, cointegrations tests with cross sectional dependence and breaks), we focus on socioeconomic and political factors and show that the main factors explaining the renewable dynamics are income per capita (income effect: a higher income is associated to more easy investments in Renewables and a proxy of high environmental protection in line with the Kuznets Curve literature), energy dependency (comparative advantage effect in energy resources: low resources and high dependency are associated to high renewables use) and the level of oil prices (however, no evidence of a substitution effect between fossils and renewables). In contrary, we do not find evidence of environmental concerns explaining the growth of renewables use since we show a negative and statistically significant relationship between CO2 emissions and the log of the renewable share in countries. In addition, we show that energy consumption/use signal is positive and statistically significant and robust. Using high levels of energy to drive the growth would lead to promoting RE (probably a mean effect, using quantiles we expect a negative sign for very high levels of energy consumption). Further work is in progress to investigate non linear effects using PSTR (Panel Smooth Transition Regression) models. Endogeneity (CO2, Energy Use) issues should also be taken into account by simultaneous models and Granger causality tests. Finally, introducing political policies as other drivers of renewables growth would also be an improvement of the existing work. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 15-15 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=013&rid=6976 File-Function: First version, 2016 Number: 5306976 Classification-JEL: Q42, Q43, C33 Keywords: energy economics, renewables, cointegration, panel Handle: RePEc:sek:iacpro:5306976 Template-Type: ReDIF-Paper 1.0 Author-Name: FAZLI DO?AN Author-Name-First: FAZLI Author-Name-Last: DO?AN Author-Email: fazli07@gmail.com Author-Workplace-Name: Selçuk University Author-Name: Duygu Özlük Author-Name-First: Duygu Author-Name-Last: Özlük Author-Email: duyguozluk@yahoo.com Author-Workplace-Name: Selçuk University Title: In Pursuit of New Peace Building: Peace, Security and Development Abstract: Recent events in international relations push us to analyze comprehensively and simultaneously the issues regarding peace, security and development. Many states in the world still suffer from deep and stark economic problems. These economic problems also increase the risk of conflict especially in the developing world. If any conflict occurs, the political, social, economic and environmental disasters can be deepened as well. Therefore, any state facing chronic development problems, has greater risks in terms of the potential conflict or humanitarian crisis. The states in conflict are obliged to use their human capital as soldiers rather than their economic developments. Additionally, those countries mostly allocate their own resources for armament rather than infrastructure or investment. They are not also able to get enough foreign aid for development. These economic and security problems reproduce widespread humanitarian crises, violations of law and corruption that may undermine order and peace in those countries. In this respect, security, peace and development are inseparable issues and concepts that must be tackled together both in theory and practice. Being aware of this necessity, this paper argues that if we analyze those three concepts together, the agenda of the security studies can be broadened. This paper also deals with the case of United Nations in general, and recent resolutions of the United Nations Security Council in particular that evaluate peace, security and development in the same perspective. Length: 7 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 16-22 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=014&rid=6927 File-Function: First version, 2016 Number: 5306927 Classification-JEL: F50, F51, F59 Keywords: Peace, Security, Development, Peace Building, United Nations Handle: RePEc:sek:iacpro:5306927 Template-Type: ReDIF-Paper 1.0 Author-Name: Miroslava Dvo?áková Author-Name-First: Miroslava Author-Name-Last: Dvo?áková Author-Email: miroslava.dvorakova@pedf.cuni.cz Author-Workplace-Name: Charles University, Faculty of Education Title: Possibilities of Using Narrations in Adult Education Abstract: The paper deals with possibilities of using narrations as education and learning tools in the process of education of adults. We present various types of narrations (e.g. cultural, familial, individual and organizational) and perspectives of narrative education (particulary understanding learning and education through narratives, learning and education as narrative process) and possibilities of using them in the process of adult learning and education. We also set advantages and possible disadvantages of narrative learning and education. The outcomes of empirical survey of using narrations and narrative learning and education by teachers of adults in the Czech Republic are submit and argue. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 23-23 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=015&rid=6942 File-Function: First version, 2016 Number: 5306942 Classification-JEL: Keywords: narration, narrative education, adult education, methods of education Handle: RePEc:sek:iacpro:5306942 Template-Type: ReDIF-Paper 1.0 Author-Name: Fran Galeti? Author-Name-First: Fran Author-Name-Last: Galeti? Author-Email: fgaletic@efzg.hr Author-Workplace-Name: Faculty of Economics and Business, University of Zagreb Author-Name: Tomislav Herceg Author-Name-First: Tomislav Author-Name-Last: Herceg Author-Email: therceg@efzg.hr Author-Workplace-Name: Faculty of Economics and Business, University of Zagreb Title: PRODUCTIVITY AND PROFITABILITY IN CROATIAN RETAIL AFTER THE CRISIS Abstract: The retail sector is one of the most important sectors in Croatian economy. This paper analyzes the profitability of Croatian retail sector compared to other countries of the European Union. The aim of this paper is to show the position of Croatia as the youngest member state of the European Union in comparison with other member states of the European Union and especially compared to ten "new" member states of the European Union. The analysis will show in which areas Croatia is similar to the European Union, but it will also show that unlike most new member states, Croatia?s GDP growth was driven essentially by employment growth, with limited productivity gains. Length: 13 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 24-36 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=016&rid=6961 File-Function: First version, 2016 Number: 5306961 Classification-JEL: E00, O00 Keywords: Productivity, Profitability, Croatia, European Union, Retail Handle: RePEc:sek:iacpro:5306961 Template-Type: ReDIF-Paper 1.0 Author-Name: Güler Günsoy Author-Name-First: Güler Author-Name-Last: Günsoy Author-Email: gcinier@anadolu.edu.tr Author-Workplace-Name: Anadolu University Author-Name: Bülent Günsoy Author-Name-First: Bülent Author-Name-Last: Günsoy Author-Email: bgunsoy@anadolu.edu.tr Author-Workplace-Name: Anadolu University Title: The Contribution of Open And Distance Education System on Life-Long Learning Process: The Case of Anadolu Univ Abstract: Education is a key factor that makes people healthier, enhances income distribution, decreases poverty rates, promotes productivity by encouraging technological advance, leads up economic growth and decreases unemployment rates. The process of education had been limited to childhood and youth but today, that point of view is abandoned. Today, the concept of life-long learning shapes education policies all over the World. In terms of this, contributions of the systems of open and distance education, which have been developed rapidly in parallel with information and communication Technologies, to the mission of life-long learning is discussed in literature. The purpose of this study is to reveal at which rate Anadolu University Open and Distance Education System contributes to the life-long learning. As the indicators of that contribution, the people that are registered to secondary university, are handicapped, are either an arrestee or an detainee and are old were analyzed. The results are in line with the hypothesis of Anadolu University Open and Distance Education System contributes to life-long learning target largely. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 37-37 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=017&rid=6954 File-Function: First version, 2016 Number: 5306954 Classification-JEL: I21, I29 Keywords: Lifelong Learning, Distance Education Handle: RePEc:sek:iacpro:5306954 Template-Type: ReDIF-Paper 1.0 Author-Name: Bülent Günsoy Author-Name-First: Bülent Author-Name-Last: Günsoy Author-Email: bgunsoy@anadolu.edu.tr Author-Workplace-Name: Anadolu University Author-Name: Güler Günsoy Author-Name-First: Güler Author-Name-Last: Günsoy Author-Email: gcinier@anadolu.edu.tr Author-Workplace-Name: Anadolu University Title: Effects of Personnel Qualification Framework on Life-Long Learning Abstract: Knowledge created by mankind on earth is increasing at a remarkable speed. Due to this fact, it is impossible for people to limit their learning to some periods of life. Acquisition of knowledge and skills for people has to last lifetime in this era. Individuals? professions that are built on knowledge, skilss and experiences have been the main source of their incomes. But, both types of professions and the professions themselves change and progress continuously. Acquiring a profession does not happen by completion of a education program any more. In yesterday?s World of limited knowledge and professions built on that, people could keep up with their profession. On the contrary in today?s World every professional needs to update and improve herself or himself. In this context, one of the people?s ways of updating and improving themselves is ?personnel licensing processes?. Licensing and recognition of a personnel?s professional knowledge, skills and experiences have been an improtant issue especially for developed countries since 1990s. For example, in 2008, European Qualification Framework has been approved as an advisory jurisdiction and the coordination task was given to European Commission. Efforts for creation of a national qualification framework in accordance with European Qualification Framework still continues. In this study, it is aimed to investigate the perspective of contribution of a qualification framework to life-long learning process. Within this scope, more than three hundred national professional qualifications are studied and test administration and license renewal, which are different for each qualification, are chosen to be high spots. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 38-38 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=018&rid=6953 File-Function: First version, 2016 Number: 5306953 Classification-JEL: I21, I25 Keywords: Lifelong Learning, Personel Qualification Handle: RePEc:sek:iacpro:5306953 Template-Type: ReDIF-Paper 1.0 Author-Name: Chihli Hung Author-Name-First: Chihli Author-Name-Last: Hung Author-Email: chihli@cycu.edu.tw Author-Workplace-Name: Chung Yuan Christian University Author-Name: You-Xin Cao Author-Name-First: You-Xin Author-Name-Last: Cao Author-Email: kyle0108c@gmail.com Author-Workplace-Name: Chung Yuan Christian University Title: Sentiment Classification from Word of Mouth Documents based on Chinese Collocations Abstract: Word of mouth (WOM) has become the main information resource while making business or buying strategies. Most WOM mining research studies focus on classification of WOM documents according to their sentimental orientations, i.e. positive and negative. Generally speaking a well-defined sentiment lexicon is used to provide the sentiment score for words. As a word may have different meanings when used in different domains so it may have different sentiment score. However such a lexicon is static and does not adapt to different domains. In this paper, we first build an adaptive Chinese sentiment lexicon from a real product review website. Then we identify feature words and opinion words of each sentence via the technique of mutual correlations between words. Based on association rules and mutual information, we extract the feature words and their associated collocation words. Finally the term frequency-inverse class frequency (TF-ICF) is used to extract word sentiment scores. According to experimental results, the usage and distribution of words are varied from different domains and our approach has a potential for Chinese WOM classification. Length: 6 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 39-44 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=019&rid=6988 File-Function: First version, 2016 Number: 5306988 Classification-JEL: D80 Keywords: Word of Mouth; Sentiment Analysis; Opinion Mining; Association Rule; Sentiment Lexicon Handle: RePEc:sek:iacpro:5306988 Template-Type: ReDIF-Paper 1.0 Author-Name: Emilie Ja?ová Author-Name-First: Emilie Author-Name-Last: Ja?ová Author-Email: entropa@seznam.cz Author-Workplace-Name: University of Economics in Prague Title: The effect of the psychological factor among companies onto the NAIRU and economic cycle on the labour market Abstract: The paper focuses on mapping the uncertainties in real economy. It develops a Central European parallel to the VIX fear and uncertainty index in condition of Hungary and Poland. It extends the number of representatives of the demand shock in the standard Gordon?s Triangle model with the index of uncertainty perception among companies. The Kalman filter will be used for estimating the value of the Non-Accelerating Inflation Rate of Unemployment and economic cycle without and with the effect of the psychological factor among companies. We verify results with the corresponding real economy data. Five scenarios will describe the relationship between the uncertainty perception among companies and the unemployment rate. The analysis quantifies the intensity of the effect of the psychological factor on the supply side on the labour market in Hungary and Poland. It will outline the consequences for the economic policymakers too. Length: 11 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 45-55 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=020&rid=7026 File-Function: First version, 2016 Number: 5307026 Classification-JEL: E24, E32, E37 Keywords: Index of uncertainty perception among companies, Phillips Curve, NAIRU, Kalman filter, Unemployment gap. Handle: RePEc:sek:iacpro:5307026 Template-Type: ReDIF-Paper 1.0 Author-Name: Devina Kemmy Author-Name-First: Devina Author-Name-Last: Kemmy Author-Email: devinakemmy@gmail.com Author-Workplace-Name: Universitas Indonesia Author-Name: Audrey Adhisty Author-Name-First: Audrey Author-Name-Last: Adhisty Author-Email: audrey.adhisty25@gmail.com Author-Workplace-Name: Universitas Indonesia Author-Name: Yashinta Astia Junia Putri Author-Name-First: Yashinta Astia Junia Author-Name-Last: Putri Author-Email: yashintaastia@gmail.com Author-Workplace-Name: Universitas Indonesia Author-Name: Hikmah Dyah Permata Sari Author-Name-First: Hikmah Dyah Permata Author-Name-Last: Sari Author-Email: hikmahdps@gmail.com Author-Workplace-Name: Universitas Indonesia Author-Name: Miski Irfani Author-Name-First: Miski Author-Name-Last: Irfani Author-Email: miskiirfani@gmail.com Author-Workplace-Name: Universitas Indonesia Title: STONEWORKING HEALTH RISKS: SILICA AND TOTAL DUST Abstract: The popularity of colored gemstone is skyrocketing. The grinding process produces dust and silica that will expose the workers. Thus, will impair the workers? health particularly in their respiratory system. NIOSH Manual of Analytical Methods 0500 and NIOSH Manual of Analytical Methods 7602 are used for total dust and silica. There were two workers that were being sampled with personal sampling method ? one for total dust and one for silica. The results of this sampling are 2.22 mg/m3 and 0.4981 mg/m3 for total dust and silica. Both of the results are below OSHA PEL, but exceeding ACGIH TLV for silica. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 56-56 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=021&rid=6937 File-Function: First version, 2016 Number: 5306937 Classification-JEL: I19 Keywords: total dust, silica, gemstone workers Handle: RePEc:sek:iacpro:5306937 Template-Type: ReDIF-Paper 1.0 Author-Name: Hyungjin Kim Author-Name-First: Hyungjin Author-Name-Last: Kim Author-Email: hyungjinkim08@gmail.com Author-Workplace-Name: Sungkyunkwan University Author-Name: Hyunchul Kim Author-Name-First: Hyunchul Author-Name-Last: Kim Author-Email: hchkim@skku.edu Author-Workplace-Name: Sungkyunkwan University Title: Analysis on lock-in effects by estimating for the switching costs in telecommunications bundles. Abstract: As digital convergence is spreading more than ever, the lock-in effects of bundled services in the broadcasting and telecommunication market are receiving considerable attention. Antitrust authorities have questioned whether lock-in effects impede competition in telecommunications markets. However, the answer to this question remains indecisive because few studies have attempted to quantify the switching costs in bundles. We use novel consumer level data to examine switching costs of bundled products. We use the mixed logit model to estimate the demand for bundled packages, which include mobile, Internet, and paid-TV services. We measure switching cost by the decrease in utility when consumers change their service providers from period t-1 to period t. The results show that consumers experience additional costs when they switch from bundles. Our estimates indicate that consumers pay 3,238 KRW (about 3 USD) per month for changing from Double Play Service (paid TV with Internet) to other services and 3,510 KRW for Triple Play Service. The estimates of switching costs are smaller for the bundles without any commitment period requirement. This implies that stipulated service period and penalty intensify the lock-in effects. In the counterfactuals where we remove the penalty for switching from bundles, we find that consumer surplus increases by 3,714 KRW per month. We proposed policies which reduce penalties for cancellations or shorter stipulated service periods in order to reduce switching costs. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 57-57 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=022&rid=6986 File-Function: First version, 2016 Number: 5306986 Classification-JEL: Keywords: Switching costs, Lock-in, Bundles, Mixed logit model Handle: RePEc:sek:iacpro:5306986 Template-Type: ReDIF-Paper 1.0 Author-Name: Pawe? Kliber Author-Name-First: Pawe? Author-Name-Last: Kliber Author-Email: p.kliber@ue.poznan.pl Author-Workplace-Name: Poznan University of Economics Title: Portfolio analysis in jump-diffusion model with power-law tails Abstract: The classic portfolio analysis given by Markowitz theory and Capital Asset Pricing Model is based on the assumption that the assets? returns are normally distributed. In this situation one can use only two criteria: expected return and variance of return as the measures of possible gains and risk, respectively. However there is a growing evidence that the assets? returns and in particular returns of shares in the stock markets fail to obey Gaussian distribution. Therefore different measures of risk should be considered.In the paper we analyze the portfolio problem in the situation when stock prices follows jump-diffusion model with the tails of jumps obeying power-law. We consider a portfolio problem with two risk criteria: risk in the situation of normal market circumstances and the risk of jumps. We propose a method for numerical computing the former risk using Fast Fourier Transform (FFT). Finally we present the examples of portfolio analysis with the new method for the shares from Warsaw Stock Market Exchange. Length: 12 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 58-69 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=023&rid=6873 File-Function: First version, 2016 Number: 5306873 Classification-JEL: G11, C61, C58 Keywords: portfolio analysis, jump-diffusion models, power-law, risk of extremes, Fast Fourier Transform Handle: RePEc:sek:iacpro:5306873 Template-Type: ReDIF-Paper 1.0 Author-Name: Piotr Krajewski Author-Name-First: Piotr Author-Name-Last: Krajewski Author-Email: piotr_krajewski@uni.lodz.pl Author-Workplace-Name: University of Lodz Title: Fiscal multipliers in non-EMU CEE countries Abstract: The effects of fiscal policy in non-EMU Central and Eastern European counties are analysed in the study. The analysis is based on dynamic stochastic general equilibrium model, which takes into account both optimizing and rule-of-thumb households. Results of the study indicate that the share of rule-of-thumb households has significant impact on government spending multipliers. On one hand, the fiscal multiplier reaches three in Hungary, which is the country with highest share of rule-of-thumb households among non-EMU CEE countries. On the other hand, in the Czech Republic, which is the country with lowest share of rule-of-thumb households, the fiscal multiplier is lower than one. Moreover, the results show that effects of government spending shocks on consumption are very sensitive to the share of rule-of-thumb households. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 70-70 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=024&rid=6957 File-Function: First version, 2016 Number: 5306957 Classification-JEL: E62 Keywords: fiscal multiplier, government spending, rule-of-thumb households Handle: RePEc:sek:iacpro:5306957 Template-Type: ReDIF-Paper 1.0 Author-Name: Jang-Shee Barry Lin Author-Name-First: Jang-Shee Barry Author-Name-Last: Lin Author-Email: barry.lin@kustar.ac.ae Author-Workplace-Name: Khalifa University of Science, Technology and Research Title: Corporate Leverage, Firm Characteristics and Financial Crisis Abstract: This paper investigates the leverage decision of Japanese firms in their corporate leverage choice by analyzing the multi-directional causal relationship among firm characteristics such as firm size, profitability, tangibility (ratio of fixed to total assets), and growth opportunity (as measured by market-to-book ratio) on firms? choice of leverage. Using corporate finance data for a large sample of Japanese firms (25,698 firm-years) between 1980 and 2000, this paper finds a highly significant and positive size effect. Tangibility positively affects total debt, but Profitability negatively affects total debt. Market valuation also positively affects total debt. Finally, profitability is positively affected by operating cash flow, growth in sales, and change in earnings. The model is applied to sub-samples before and after the Asian financial crisis and results remain broadly similar before and after the financial crisis. Our findings support the hypothesis that the firm leverage choice is driven by firm characteristics. Length: 12 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 71-82 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=025&rid=6914 File-Function: First version, 2016 Number: 5306914 Classification-JEL: A10 Keywords: Leverage, Profitability, Size effect, Market to book Handle: RePEc:sek:iacpro:5306914 Template-Type: ReDIF-Paper 1.0 Author-Name: Neslihan Lök Author-Name-First: Neslihan Author-Name-Last: Lök Author-Email: neslihanlok1@gmail.com Author-Workplace-Name: Selçuk Üniversitesi Author-Name: Sefa Lok Author-Name-First: Sefa Author-Name-Last: Lok Author-Email: sefalok@gmail.com Author-Workplace-Name: Selçuk University Author-Name: Muammer Canbaz Author-Name-First: Muammer Author-Name-Last: Canbaz Author-Email: muammercanbaz@hotmail.com Author-Workplace-Name: Selcuklu Anatolian School Title: THE EFFECT OF ?PHYSICAL ACTIVITY PROGRAM? ON THE DEPRESSIVE SYMPTOMS AND QUALITY OF LIFE Abstract: Objectives:Physical activity might have positive influences on diminishing anxiety, stress and depression; sustaining mental health and providing liveliness. This study is conducted in order to evaluate the influence of ?Physical Activity Program? applied on elders in nursing home on the depressive symptoms and quality of life. Methods of research:This study is designed in experimental manner with pretest posttest design. The population of the study is determined according to the inclusion exclusion criteria and it includes 80 individuals aged over 65 (40 experimental group and 40 control group) who live in nursing home belonging to Metropolitan Municipality. Prepared in compliance with the literature, the ?Physical Activity Program? comprises of 10 minutes of warm up, 20 minutes of rhythmic exercise, 10 minutes of cool down and 30 minutes of free walking and it is applied under the supervision of the researchers four times a week for ten weeks in total. As pretest posttest design, the data is collected with socio-demographic features information form, Beck depression scale and SF 36 quality of life scale. For the evaluation of the data, Wilcoxon signed rank test, Mann Whitney U and Oneway ANOWA tests are utilized. Results: While it is detected that the score averages of the depression scale of the individuals in the experimental group of the research before the Physical Activity Program decreases by the end of the program (p<0.05), it is seen from the posttest measurement that the pretest depression scale score averages of the control group do not change by the end of the program. It is detected that after the ?Physical Activity Program? related to the quality of life of the experimental group; score averages in eight sub-scales and two sub-dimensions are higher than the score averages of control group (p<0.05).Conclusions: According to the results of our study, the ?Physical Activity Program? is influential on the depressive symptoms and quality of life of the individuals. The ?Physical Activity Program? decreases the depressive symptoms of individuals and increases their quality of life. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 83-83 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=026&rid=6887 File-Function: First version, 2016 Number: 5306887 Classification-JEL: Keywords: Elders, Physical Activity Program, Depression, Quality of Life Handle: RePEc:sek:iacpro:5306887 Template-Type: ReDIF-Paper 1.0 Author-Name: Neslihan LOK Author-Name-First: Neslihan Author-Name-Last: LOK Author-Email: neslihanlok1@gmail.com Author-Workplace-Name: Selçuk University Faculty of Health Sciences Author-Name: Erdal TASGIN Author-Name-First: Erdal Author-Name-Last: TASGIN Author-Email: erdaltasgin@gmail.com Author-Workplace-Name: Selçuk University Faculty of Sport Sciences Author-Name: Muammer CANBAZ Author-Name-First: Muammer Author-Name-Last: CANBAZ Author-Email: muammercanbaz@hotmail.com Author-Workplace-Name: Selçuklu Anatolian School Author-Name: Sefa LOK Author-Name-First: Sefa Author-Name-Last: LOK Author-Email: sefalok@gmail.com Author-Workplace-Name: Selçuk University Faculty of Sport Sciences Title: The Effect of 10 Week Exercise Program on the Depression Level of the Adolescents Abstract: Introduction And Objective: Depression is the most common disease of our century which is a very serious individual and social mental disease due to its recurrence and chronicity rate, significant suicidal risk and its creating failure. The influences of exercise has been examined in several studies. This research is conducted in order to examine the influence of exercise on the depression level of adolescents. Method: This is a control group study with a pretest posttest design in which the adolescents perform regular exercises. The study is conducted with 40 high school senior students - 20 initiative and 20 control group subjects - who are studying in a high school in Antalya city. The initiative group is taken into a weekly ?5 day 50 minute? exercise program for 10 weeks. Beck depression scale is applied on the participants before ( week 0) and after (at the end of week 10) the exercise program. For the evaluation of the data, chi square, Mann Whitney U and Wilcoxon tests are utilized. Findings: The age average of the participant students is 17.04±1.17; also it is detected that 57% of them are female students and 24.2% of them are slightly overweight. While the depression level score average of the initiative group before the exercise program is 22.12±3.42, this score decreases to 15.32±2.47 after the program and this difference is found to be statistically significant (p<0.05). While the depression level score average of the control group before the exercise program is 21.24±2.36, this score is detected to be 20.72±3.29 after the program and this difference is found to be statistically insignificant (p>0.05).Conclusion: According to the results obtained, it is seen that the 10 week exercise program which is applied on the initiative group is influential on decreasing the depression level score averages of the adolescents. These findings might be a base for encouraging the students towards regular exercise to be able to have a better mental health. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 84-84 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=027&rid=6911 File-Function: First version, 2016 Number: 5306911 Classification-JEL: Keywords: Adolescent, exercise, depression level Handle: RePEc:sek:iacpro:5306911 Template-Type: ReDIF-Paper 1.0 Author-Name: Colla J. MacDonald Author-Name-First: Colla J. Author-Name-Last: MacDonald Author-Email: cjmacdon@uottawa.ca Author-Workplace-Name: Univerity of Ottawa Author-Name: Derek Puddester Author-Name-First: Derek Author-Name-Last: Puddester Author-Email: drpuddester@me.com Author-Workplace-Name: University of Ottawa Author-Name: Lorne Wiesenfeld Author-Name-First: Lorne Author-Name-Last: Wiesenfeld Author-Email: L.Wiesenfeld@uottawa.ca Author-Workplace-Name: University of Ottawa Author-Name: Alan Chaput Author-Name-First: Alan Author-Name-Last: Chaput Author-Email: a.chaput@uottawa.ca Author-Workplace-Name: University of Ottawa, Faculty of Medicine Author-Name: Heather Summers Author-Name-First: Heather Author-Name-Last: Summers Author-Email: pgmemanager@uottawa.ca Author-Workplace-Name: University of Ottawa Title: Increasing Support and Job Satisfaction for Program Administrators at the Postgraduate Medical Education Off Abstract: Background: Realizing Program Administrators (PAs) are crucial to the success of the postgraduate medical education (PGME) program, the postgraduate medical education office at the University of Ottawa conducted a needs analysis to; (a) identify training opportunities PAs felt would support them in being effective at meeting role expectations including supporting Program Directors (PDs); and (b) gather information from PAs to guide the PGME office in taking positive action toward increasing satisfaction with services and resources. Methods: A mixed methods approach, involved collecting and analyzing data from online surveys and follow-up qualitative interviews. The constructs of the W(e)Learn framework (content, media (delivery), service, structure and outcomes) guided the data analysis. Results: PAs identified the following professional development topics they said would benefit them: Human Resources; Communication and Conflict Management Courses; Career Development; Evaluation, Policy, Multigenerational Workforces; and Best Technological Practices of Relevance to PAs. The PAs also identified several recommendations for how the PGME office could facilitate them effectively carrying out their roles and responsibilities. Conclusions: An effective form of support is offering convenient, relevant professional development to help employees meet role expectations. A well-designed professional development program should begin with a needs analysis to determine stakeholder needs with regard to relevant content, preferred delivery methods, service issues and course structure, in order to ensure desired learner outcomes. Length: 2 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 85-86 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=028&rid=6847 File-Function: First version, 2016 Number: 5306847 Classification-JEL: I20, I23, O29 Keywords: Post graduate medical educationProgram administratorsresidentsNeeds analysisProgram evaluation Handle: RePEc:sek:iacpro:5306847 Template-Type: ReDIF-Paper 1.0 Author-Name: Abdul Majid Author-Name-First: Abdul Author-Name-Last: Majid Author-Email: abdul.majid@monash.edu Author-Workplace-Name: Monash University Malaysia Author-Name: Sri Yogamalar Author-Name-First: Sri Author-Name-Last: Yogamalar Author-Email: sri.yogamalar@monash.edu Author-Workplace-Name: Monash University Malaysia Author-Name: Sandra Ho Author-Name-First: Sandra Author-Name-Last: Ho Author-Email: w_ho2002@yahoo.co.uk Author-Workplace-Name: The Hong Kong Polytechnic University Author-Name: Shanthy Rachagan Author-Name-First: Shanthy Author-Name-Last: Rachagan Author-Email: shanthy.rachagan@monash.edu Author-Workplace-Name: Monash University Malaysia Title: The Sale of Goods Act 1893 (UK) stands tall in Hong Kong, India and Malaysia Abstract: When UK?s Sale of Goods Act 1893 (?the UK Act?) was passed, the United Kingdom was a flourishing colonial power having dominion over, inter alia, Hong Kong, India and Malaysia. This explains the adoption, with minor modifications, of the UK Act in Hong Kong (as the Sale of Goods Ordinance 1896 (?SOGO?)), in India (as the Sale of Goods Act, 1930 (?the Indian Act?)) and in Malaysia (as the Sale of Goods Enactment 1932 (No. 1 of 1932) (?the Enactment?)). The Indian Act was mainly based on the provisions of the UK Act, modified in the light of subsequent judicial decisions in England and India. Thereafter, the Indian Act has neither been subjected to major review nor amended to incorporate changes in its UK counterparts. While Hong Kong was a British colony (until 1 July 1997), all changes in the UK sale of goods legislation were ultimately incorporated into SOGO. From 1896-1997, SOGO was amended 12 times to keep pace with changes in the UK Act. In Britain, the Act was repealed and replaced by the Sale of Goods Act 1979 (?the 1979 Act?). Hong Kong, however, did not follow suit but retained SOGO and amended it to follow the 1979 Act. Malaya gained independence from the British in 1957 and became the Federation of Malaysia in 1963. The Enactment has since been re-intituled twice. First, it was retitled, Sale of Goods (Malay States) Ordinance 1957 (No. 1 of 1957) and in 1989, it became the Sale of Goods Act 1957 (?SOGA?). Save for its re-intitulement, there has been no amendment of any significance. Malaysia has seen fit not to be guided by local judicial pronouncements or developments in the law of the sale of goods in other common law jurisdictions. SOGA remains, as a result, an ossified version of the UK Act. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 87-87 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=029&rid=6924 File-Function: First version, 2016 Number: 5306924 Classification-JEL: K39 Keywords: Sale of goods, legislative history, United Kingdom, Hong Kong, India, Malaysia Handle: RePEc:sek:iacpro:5306924 Template-Type: ReDIF-Paper 1.0 Author-Name: Mira Malczynska-Bialy Author-Name-First: Mira Author-Name-Last: Malczynska-Bialy Author-Email: mira19@interia.pl Author-Workplace-Name: University of Rzeszów Title: Non-governmental organisations in European Union and its role in consumer protection Abstract: The article is based on an analysis of the subject literature, the legal acts and information from the official web sites of European non-governmental organisations (NGO?s), the main purpose of which is to present the idea and the primary role of NGO?s, whose priority is to propagate and popularize consumer protection in the European Union.In addition an analysis is conducted of the systematics of Consumer non-governmental sector in European Union. Also the relation between non-governmental organisations and European Commission are indicated. The article includes a characterisation of the specific role of the European Economic and Social Committee, which consists of representatives of the various economic and social components of organised civil society, such as consumers in the development of consumer protection in the European market. Generally consumer protection policy was established after the year 1992. At that time, on 7 February 1992 in Maastricht, the Treaty on the European Union undertaken to integrate Europe was signed by the members of the European Community. The Treaty devoted to consumer protection is under a separate title, XI. From that time, the Community shall contribute to the attainment of a high level of consumer protection. One of the ways to achieve this aim is the development of NGO?s within the consumer sectors, which can be called the dedicated voice of the consumer at national and Community level.In the next section of the article the chosen European Union non-government organization and its role in consumer protection is analyzed. In particular the specific actions undertaken on that matter by the European Community of Consumer Co-operatives (Euro Coop), the European Farmers Organisation, the European Association for the co-ordination of Consumer Representation in Standardisation (ANEC) and the Bureau Européen des Unions de Consommateurs ( BEUC ) are analysed.The final section of the article is the conclusion of the real role of consumer NGO?s both now and in the future in European Union policy. Those considerations are based on real European Union regulations such as Regulation (EU) No 254/2014 of the European Parliament and of the Council of 26 February 2014 on a multiannual consumer programme for the years 2014-20, and the Opinion of the European Economic and Social Committee on the Proposal for the Regulation of the European Parliament and of the Council on the Consumer Programme 2014-2020. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 88-88 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=030&rid=6970 File-Function: First version, 2016 Number: 5306970 Classification-JEL: D18, L31, K33 Keywords: non-governmental organisations, consumer protection, European Union. Handle: RePEc:sek:iacpro:5306970 Template-Type: ReDIF-Paper 1.0 Author-Name: Qaiser Munir Author-Name-First: Qaiser Author-Name-Last: Munir Author-Email: qaiser@ums.edu.my Author-Workplace-Name: Faculty of Business, Economics and Accountancy, Universiti Malaysia Sabah Author-Name: Sook Ching Kok Author-Name-First: Sook Ching Author-Name-Last: Kok Author-Email: emily@ums.edu.my Author-Workplace-Name: Faculty of Business, Economics and Accountancy, Universiti Malaysia Sabah Author-Name: Winnie Abdulnasir Author-Name-First: Winnie Author-Name-Last: Abdulnasir Author-Email: winnieannallures@gmail.com Author-Workplace-Name: Faculty of Business, Economics and Accountancy, Universiti Malaysia Sabah Title: Public debt sustainability and economic growth in Malaysia: Threshold and causality analysis Abstract: The 2008 financial crisis has led to an unprecedented increase in public debt across the world, raising serious concerns about its economic impact. This paper investigates the impact of public debt on long-run GDP growth in Malaysia from the year 1970 to 2013. We employ novel methods and diagnostics from the time-series literature, such as threshold regression approach suggested by Hansen (2000), causality test and cointegration test. The empirical results suggest an inverse relationship between debt and GDP growth, controlling for other determinants of growth. Further, our results suggest that there is strong evidence of causality from growth to public debt. In addition, threshold effect and nonlinearity between debt-growth is examined. We found a non-linear impact of public debt on GDP growth with a turning point?beyond which the public debt-to-GDP ratio has a deleterious impact on long-term growth?at about 50-60% of GDP. Length: 17 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 89-105 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=031&rid=6868 File-Function: First version, 2016 Number: 5306868 Classification-JEL: H63, O40, C50 Keywords: Public debt; Economic growth; fiscal policy; Threshold analysis; Causality Handle: RePEc:sek:iacpro:5306868 Template-Type: ReDIF-Paper 1.0 Author-Name: Jacqueline Musabende Author-Name-First: Jacqueline Author-Name-Last: Musabende Author-Email: info@iises.net Author-Workplace-Name: ISM Author-Name: Frank Cotae Author-Name-First: Frank Author-Name-Last: Cotae Author-Email: fcotae@mtroyal.ca Author-Workplace-Name: Mount Royal University Title: EXPERIENTIAL LEARNING: GlobalDNA SIMULATION FOR TEACHING INTERNATIONAL BUSINESS COURSES Abstract: The use of simulations in business education started in 1957, since then, hundreds of simulations have been developed and/or introduced in the classroom. In this paper, we present a literature review of the impact that business simulations have in developing decision-making skills, integrative, experiential learning, and teamwork skills. Building on the generative learning theory, experiential learning theory and bloom?s taxonomy, we tested the simulation GlobalDNA with a sample of undergraduate students divided into 4 groups. The objective was to obtain feedback of the applicability and benefit of using this software to teach decision-making in international business courses from a student and instructor experience perspectives. Results showed GlobalDNA being applicable to senior level or capstone international business strategy courses and appropriate as an experiential learning tool. Students we asked, at the end of the class to submit introspective summaries regarding the software program. We found supporting evidence and student perceived benefits for implementing simulations into the international business curricula to represent the experiential learning prong, and GlobalDNA provided a relevant backdrop for it. Length: 7 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 106-112 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=032&rid=7051 File-Function: First version, 2016 Number: 5307051 Classification-JEL: I29 Keywords: Simulation, Taxonomy, Experiential Learning, Theory, Pedagogy, Benchmark Competition Handle: RePEc:sek:iacpro:5307051 Template-Type: ReDIF-Paper 1.0 Author-Name: Alan Osman Author-Name-First: Alan Author-Name-Last: Osman Author-Email: aosman@mindspring.com Author-Workplace-Name: The Othio State University, Retired Title: A Note on the Economics of Certain Sharia Tenets Abstract: Were they to be viewed in economic lenses, God's invitation to non Moslems to convert is analogous to a two-part tariff and his relationship with those who do would pose a principal-agent problem. luckily, this is beyond the scope of this note, but would be briefly clarified in the introduction section. Sharia has been repeatedly condemned in the U.S. by public figures and others for its supposed anti-humane dictates. This note briefly defines sharia before presenting a qualitative analysis of the possible economic implications, direct or otherwise, of a select number of its prescribed practices. Among others, these include marriage contracts, inheritance laws, prayer, prohibition against interest, fasting, and the pilgrimage. An internet search produced a number of research projects on the economics of sharia. However, these tended to deal mostly with the rules on inheritance and with the role of prohibition on interest. One paper did analyze the effect of fasting on economic growth and found a negative effect but it recognized the possibility of a positive emotional utility. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 113-113 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=033&rid=6881 File-Function: First version, 2016 Number: 5306881 Classification-JEL: A12, A13, A10 Keywords: Economics of Sharia; Two-part tariff; Principal-agent problem; Economic growth; Interest; Sharia laws; Pilgrimage; Marriage contract Handle: RePEc:sek:iacpro:5306881 Template-Type: ReDIF-Paper 1.0 Author-Name: Alper Tunga Peker Author-Name-First: Alper Tunga Author-Name-Last: Peker Author-Email: tungapeker@hotmail.com Author-Workplace-Name: Agri Ibrahim Cecen University Author-Name: Halil Taskin Author-Name-First: Halil Author-Name-Last: Taskin Author-Email: htaskin@selcuk.edu.tr Author-Workplace-Name: Selcuk University Faculty of Sport Sciences Title: The Effect Of Life Kinetik Trainings On Coordinative Abilities Abstract: This study was aimed to examine the effect of life kinetik trainings by 8 weeks on coordinative abilities. 24 volunteers have participated in the study. We have separated 12 subjects who (mean ± SD age, 11.75 ± 1.29 years; height, 141 ± 0.08 cm; weight, 34.66 ± 10.03 kg as control group, 12 subjects (mean ± SD age, 12.75 ± 1.36 years; height, 139 ± 0.07 cm; weight, 33.75 ± 7.40 kg as experiment group. Each group were performing summer football school trainings 3 days per a week. In addition to, The experiment group has been performed 45 minutes life kinetik training program 3 days per a week during 8 weeks by us. Rhythm, orientation, differentiation and balance skills have been determined as coordinative abilities and have been tested both pre and post life kinetik trainings by 8 weeks. When the experiment group?s pre test-post test results have been compared, There was a significantly decrease between pre test and post test results for balance pad error score, balance total error score, rhythm ability and orientation ability (p<0,05). There was no a significantly difference between pre test and post test results for balance flat floor error score and differentiation ability (p>0,05). When the control group?s pre test-post test results have been compared, There was no a significantly difference between pre test and post test results for balance flat floor error score, balance pad error score, balance total error score, rhythm ability, orientation ability and differentiation ability (p>0,05). In conclusion, it can be thought that life kinetik effects on balance, rhythm ve orientation of coordinative abilities. On the other hand, it can be thought that life kinetic doesn?t effect on differentiation of coordinative abilities. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 114-114 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=034&rid=6946 File-Function: First version, 2016 Number: 5306946 Classification-JEL: Keywords: Life kinetic, coordinative abilities, children, sports Handle: RePEc:sek:iacpro:5306946 Template-Type: ReDIF-Paper 1.0 Author-Name: Sergei Peregonchuk Author-Name-First: Sergei Author-Name-Last: Peregonchuk Author-Email: speregon@gmail.com Author-Workplace-Name: The National University of Samoa Title: Teaching Introductory Economics: application of the cost - benefit principle to the optimal allocation of resources Abstract: The current way of teaching Introductory Economics in many universities in different parts of the world does the emphasis on technique. As you flip through the pages of the classic textbooks written by G.Mankiv, P.Krugman, R.Lipsey, M.Parkin you will see graphs or mathematical formulas practically on every page. At the end of such a course the students learn how to calculate equilibrium prices and quantities, different types of elasticities and multipliers, how to draw indifference curves. But they have no idea how to apply any of these tools to real world problems.One of the most fundamental concepts that many of us want our beginning students to master is the cost-benefit principle. Perhaps, only few who teach Introductory Economics would disagree that the cost-benefit principle is the pillar of Microeconomics. But, surprisingly, the classic textbooks do not discuss this fundamental concept at all. As far as my teaching experience goes, the only textbook that dedicates the whole chapter to the cost-benefit principle is Frank/ Bernanke?s ? Principle of Microeconomics ?. I have been using this textbook for many years and I really appreciated the way how this concept was presented to the students.Due to my personal persuasion about the value of the cost-benefit principle to the beginning economics students I have made a genuine contribution to the methodology of teaching it. I was able to design a general algorithm of how to apply the cost-benefit principle to the problem of optimal allocation of resources. Typically, I use this algorithm in two chapters of my Introductory Economics course ? ? Basics of the Cost ? Benefit principle? and ?Demand : The Benefit Side of the Market?.In my presentation at the conference which I am planning to attend I will demonstrate how to apply the general algorithm to two problems on optimal allocation of resources. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 115-115 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=035&rid=6867 File-Function: First version, 2016 Number: 5306867 Classification-JEL: A22 Keywords: introductory Economics, teaching, cost-benefit principle Handle: RePEc:sek:iacpro:5306867 Template-Type: ReDIF-Paper 1.0 Author-Name: Katarzyna Pilat Author-Name-First: Katarzyna Author-Name-Last: Pilat Author-Email: katarzyna.pilat@gmail.com Author-Workplace-Name: University of Lodz, Economics and Sociology Faclty Title: (A)symmetric shocks in CEECs and euro area Abstract: Similar response of economies to demand and supply shocks is one of the most important feature which can define if there are foundations to form by a group of countries a currency area. This criterion, together with mobility of factors of production, elasticity of prices and wages, production diversification and financial and policy integration is the main principle of optimum currency area (OCA) theory. High level of similarity in responses to economic shocks among countries forming a currency area enables a supranational central bank to conduct an effective monetary policy. The analysis is aimed to verify if responses to common shocks in CEECs are correlated with the response of euro area. Supply and demand shocks are identified on the basis of SVAR model. Decomposition of shocks is based on Blanchard and Quah methodology. Quarterly data on GDP growth and inflation are used. Results show that the correlation coefficients of responses to demand shock with reaction of euro area economy are the highest for Czech Republic (0.87) and Poland (0,83), while in case of supply shock correlation coefficients are generally much lower, with the highest value for Poland (0,83) and Hungary (0,77). Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 116-116 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=036&rid=6950 File-Function: First version, 2016 Number: 5306950 Classification-JEL: F44, A10, C32 Keywords: economic shocks, optimum currency area, SVAR model Handle: RePEc:sek:iacpro:5306950 Template-Type: ReDIF-Paper 1.0 Author-Name: Pekka Räihä Author-Name-First: Pekka Author-Name-Last: Räihä Author-Email: pekka.raiha@uta.fi Author-Workplace-Name: Unit of Education, University of Tampere Author-Name: Antti Juvonen Author-Name-First: Antti Author-Name-Last: Juvonen Author-Email: antti.juvonen@uef.fi Author-Workplace-Name: University of Eastern Finland, Philosophical Faculty Author-Name: Kristiina Samppala Author-Name-First: Kristiina Author-Name-Last: Samppala Author-Email: samppala.kristiina.m@student.uta.fi Author-Workplace-Name: School of Education, University of Tampere Title: Closing down schools and joining them together as experienced by teachers, pupils and students Abstract: Many Finnish country schools were closed down since 1960s when the industrialization drew people in cities to work. Today, also big schools are closed down, building bigger units in hope of economic savings. (Autti & Hyry-Beihammer 2009; Korpinen 2010). Driving down schools have also become more common all over the world. (f. i. Kretchmar 2011; Jones 2005). The practice schools of the Finnish Universities have also ended up in closing and moving. The New legislation concerning universities (2010) made the funding worse, and the universities save by closing their filial units separate from the mother universities. In 2012 both Oulu and Tampere Universities closed their filial units moving the action to main campuses. In 2016 the University of Eastern Finland decided to move the Savonlinna campus to Joensuu in 2018. Our research explores the consequences of the decision. We focus on experiences of teachers, students and other personnel about the decision. The decision took months to make and that?s why the respondents were asked to write about their feelings before and after the decision making by an electronic questionnaire.We got altogether 108 answers (76 teacher students, 28 lecturers and professors, 4 other personnel). The length of the answers was between a few lines to long essays. The data was analyzed using content analyzes. (Attride-Stirling 2001). The analyzing is still going on but the preliminary results show strong emotions. During the decision making, a strong hope and belief about the campus remaining in Savonlinna was evident. After the decision the emotions went from grief to despair and rage.The personnel felt overtaken in the decision making processes. Moving to the main campus felt oppressive. The students felt being betrayed because they had especially wanted to study in Savonlinna. Those whose studies were in the end can finish them in Savonlinna, but the new students have to start their studies twice; first in Savonlinna and later in Joensuu.Because the decision cannot be changed, it is resisted in other ways. The personnel try to do only the most necessary and students aim in speeding their studies to avoid moving. The research was seen therapeutic as it offered a possibility to reflect what had been experienced. It was kind of saying goodbye to a difficult matter. Length: 2 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 117-118 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=037&rid=6907 File-Function: First version, 2016 Number: 5306907 Classification-JEL: Keywords: teacher educationeconomic savingcontent analyzeexperiences of staff and students Handle: RePEc:sek:iacpro:5306907 Template-Type: ReDIF-Paper 1.0 Author-Name: Sylwia Roszkowska Author-Name-First: Sylwia Author-Name-Last: Roszkowska Author-Email: sylwiaroszkowska@gmail.com Author-Workplace-Name: University of Lodz; Department of Macroeconomics Title: What Drives Employment in OECD Countries? Abstract: The main aim of the study is a statistical analysis of the impact of labour market institiutions on employment rates in OECD countries. The relationships between employment rates (by age, skill level) and main labour market institutions including minimum wages, employment protection legislation, tax wedges, replacement rates, type of contracts and the degree of unionization are examined. Additionally, other key macroeconomic variables were taken into account The equations describing above mentioned relationships are estimated using GLS method assuming heteroscedastic and autocorrelated error term. Sample includes most of OECD (over 20) countries in 1990-2014 due to data avaibility and comparability of analysed institutions.The main conclusion of the analysis is a statistically significant impact of labour market institutions on the overall employment rates in OECD countries. However, the impact is not obvious if detailed study concerning disaggregated employment rates is conducted. In many cases we cannot accept hypotheses that labour market regulations affect the employment rates. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 119-119 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=038&rid=6938 File-Function: First version, 2016 Number: 5306938 Classification-JEL: J08, J58, C50 Keywords: employment, labour market, labour market institutions Handle: RePEc:sek:iacpro:5306938 Template-Type: ReDIF-Paper 1.0 Author-Name: Ziva Rozen-Bakher Author-Name-First: Ziva Author-Name-Last: Rozen-Bakher Author-Email: zrb12071963@gmail.com Author-Workplace-Name: Independent researcher Title: DO PRE-M&A PERFORMANCES OF THE ACQUIRER AND THE TARGET PREDICT M&A SUCCESS? THE MIXED EFFECT OF EMPLOYMENT Abstract: Due to the high failure rate of the M&A strategy, this study raises the question of whether the performances of the acquirer and the target in the pre-M&A period, could predict an M&A?s success. The study presents a mediation model with the aim to examine the impact of the pre-M&A performances on integration success, synergy success and profitability success. The model includes four pre-performances variables: the revenue and profitability of the acquirer and the target. The model also includes employment change as a mediating variable. The study uses a sample of 394 public companies. The study highlights the novelty of this research. The results show that the revenue of the target and the employment ratio have a dominant impact on integration success with relation to the other variables. The revenue of the acquirer has a dominant impact on synergy success, while the revenue and the profitability of the acquirer and the revenue ratio have a dominant impact on the profitability success. The study also indicates that the employment change during the M&A process has a mixed impact on the M&A?s success. An increase in employment leads to integration success and synergy success, but it leads to a negative effect on the profitability success. The study emphasizes the delicate balancing that is needed in implementation of M&A strategy to keep both, the synergy success and the profitability success, particularly with regard to employment change during the M&A process. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 120-120 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=039&rid=6936 File-Function: First version, 2016 Number: 5306936 Classification-JEL: Keywords: Employment; Performances; Integration; Mergers and Acquisitions (M&A); Synergy Handle: RePEc:sek:iacpro:5306936 Template-Type: ReDIF-Paper 1.0 Author-Name: Ziva Rozen-Bakher Author-Name-First: Ziva Author-Name-Last: Rozen-Bakher Author-Email: zrb12071963@gmail.com Author-Workplace-Name: Independent researcher Title: DO PRE-M&A PERFORMANCES OF THE ACQUIRER AND THE TARGET PREDICT M&A SUCCESS? HORIZONTAL VS. VERTICAL VS. CONGLO Abstract: Due to the high failure rate of the M&A strategy, this study raises the question of whether there are differences between horizontal M&A vs. vertical M&As vs. conglomerate M&As with regard to the prediction of M&A success by the pre-performances of the acquirer and the target. This study presents a research model with an aim to understand if differences exist between the types of M&A with regard to the prediction of M&A success. The study uses three samples, which includes 121 horizontal M&As, 19 vertical M&As and 57 conglomerate M&As. The research model includes four variables that reflect the pre-performances of the acquirer and the target ? the revenue of the acquirer/target and the profitability of the acquirer/target. The study reveals that horizontal M&As and vertical M&As lead to a failure of the integration stage, while conglomerate M&As leads to integration success. The results also show that in horizontal M&As, the profitability of the target has a positive effect on the integration success, but it has a negative effect on synergy success, while in conglomerate M&As, it has a negative effect on synergy success. The revenue of the target has a negative effect on integration success, but only with regard to horizontal M&As. The study highlights that conglomerate M&As have more probability for success compare to horizontal M&As and vertical M&As. Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 121-121 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=040&rid=6948 File-Function: First version, 2016 Number: 5306948 Classification-JEL: Keywords: Conglomerate, Horizontal, Integration, Mergers and Acquisitions (M&A), Performances, Profitability, Synergy, Vertical Handle: RePEc:sek:iacpro:5306948 Template-Type: ReDIF-Paper 1.0 Author-Name: Levan Sabauri Author-Name-First: Levan Author-Name-Last: Sabauri Author-Email: sabaurilevan@gmail.com Author-Workplace-Name: Ivane Javakhishvili Tbilisi State Univeristy Author-Name: Nadezhda Kvatashidze Author-Name-First: Nadezhda Author-Name-Last: Kvatashidze Author-Email: nadia.kvatashidze@gmail.com Author-Workplace-Name: Ivane Javakhishvili Tbilisi State University Title: Types of financial statements, questions of their submission and comparative analysis according to the IFRS Abstract: In conditions of globalization there is increased significance of financial statements increased, the qualitative characteristics of information of which define its usefulness for user of information. Information is useful when it helps the information user to make economical decision. For making of economical decisions users need different statements, rules of preparation and submission of which are regulated by International Financial Reporting Standards (IFRS). These statements are of general purpose, individual. consolidated, combined, pro forma. International Accounting Standards Board (IASB) constantly works on improvement of submission of information from such statements, and as result there were made so many changes in the corresponding IFRS during the last years (2011-2016). These changes are expressed in explanation of doctrines, parameters of consolidation, methods of estimation of statements indexes, explanatory notes etc. For all this we need to think from the beginning about what purpose and contents has any kind of financial statement, how do they differ from each other, in which case which statement shall be submitted, which statement does the user need. Length: 9 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 122-130 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=041&rid=6917 File-Function: First version, 2016 Number: 5306917 Classification-JEL: M41, M41 Keywords: Purpose of financial statement; conception of enterprise, conception of owner; standards of small and average enterprises; financial statement of general purpose; individual financial statement; consolidated financial statement; combined financial statement; pro forma financial statement Handle: RePEc:sek:iacpro:5306917 Template-Type: ReDIF-Paper 1.0 Author-Name: Sanaa SABOUR ALAOUI Author-Name-First: Sanaa Author-Name-Last: SABOUR ALAOUI Author-Email: sanaa_ala@yahoo.fr Author-Workplace-Name: Polydisciplinary Faculty Beni-Mellal Author-Name: Barge Nadia Author-Name-First: Barge Author-Name-Last: Nadia Author-Email: sanaa_ala@yahoo.fr Author-Workplace-Name: polydisciplinqry faculty of beni mellal Title: Impact of the city environment on human health: the case of the city of Beni Mellal in Morocco Abstract: BACKGROUNDToday, the number of allergy is increasing in industrialized countries. The World Health Organization (WHO) classifies allergic diseases to be the fourth in the world of affections. WHO considers that these diseases are a major public health problem in terms of quality of life, loss of work days, teaching, drug and even mortality cost.The frequency of respiratory allergies including asthma and allergic rhinitis due to pollens is increasing in the young and urban dwellers in developed countries. METHODS: For this project, we chose Polydisciplinary Faculty of Beni-Mellal (FPBM) located in the center of Morocco as a place for the study of pollen allergy. It is a public institution of higher education, that receives thousands of students from different parts of the region which is characterized by its vegetation richness. The project was to study pollen allergy in FPBM in an effective sample of 529 randomly chosen within a range of about 7,000 students. A survey was made for a descriptive studies. Results: The percentage of students allergic to pollen surveyed in the FPBM was 39%. This percentage was within the confidence interval of all students in the allergic FPBM [35%; 44%] estimated 5% error risk. This results prove that our sample was representative. We also found that the allergic to pollen presents a significant percentage of 40.5% for female compared to 36.6% for male. Our study shows that the olive tree is the main allergen causing pollen allergy. The majority of the surveyed students are allergic to one or two types of plants. The most common symptoms of pollen allergy among its students are the nasal symptoms (sneezing and nasal itching).This study shows that most students have allergies in the spring season. Our study shows also that the cross-reactivity between pollen and food was the most dominant CONCLUSIONS: The high percentage of students allergic to pollen surveyed in the FPBM might be explained by the wealth of the region in vegetation. We suggested that the difference seen beteween female and male is due to physiological and hormonal differences between the sexes. Olive tree was the main allergen ,this can be explained by the richness of the region of Beni-Mellal-Khénifra with this plant. Length: 2 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 131-132 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=042&rid=6929 File-Function: First version, 2016 Number: 4306929 Classification-JEL: I10 Keywords: Survey, Pollen allergy, symptoms, FPBM, Olive tree, cross-reactivity Handle: RePEc:sek:iacpro:4306929 Template-Type: ReDIF-Paper 1.0 Author-Name: Jana Marie ?afránková Author-Name-First: Jana Marie Author-Name-Last: ?afránková Author-Email: janamarie.safrankova@pedf.cuni.cz Author-Workplace-Name: Charles University, Faculty of Education, Education Management Centre Author-Name: Martin ?ikı? Author-Name-First: Martin Author-Name-Last: ?ikı? Author-Email: martin.sikyr@cvut.cz Author-Workplace-Name: Czech Technical University in Prague, Masaryk Institute of Advanced Studies Title: The quality of teaching and its impact on university students' motivation Abstract: The goal of the paper is to discuss the impact of the quality of teaching on university students' motivation to learn and study at university. The paper is based on the analysis of available scientific literature and the results of the authors' questionnaire survey among students of the College of Regional Development in Prague, the Masaryk Institute of Advanced Studies of the Czech Technical University in Prague and the School Management Centre of the Faculty of Education of Charles University in Prague that was focused on students' motivation to study at university and their ideas about future career. The survey was conducted from February to May 2016. The relevant data were obtained from 416 students. The results show some interesting tendencies in students' attitudes to learning and studying at university. Students often complain of the quality of teaching, particularly of theoretical subjects without obvious connections and practical applications. This dissatisfaction significantly reduces students' motivation to learn and study at university. Many students go to work rather than to school to earn money and get experience. Length: 9 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 133-141 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=043&rid=6931 File-Function: First version, 2016 Number: 5306931 Classification-JEL: J24, I29, A14 Keywords: higher education, quality of teaching, motivation of students Handle: RePEc:sek:iacpro:5306931 Template-Type: ReDIF-Paper 1.0 Author-Name: Nico Schutte Author-Name-First: Nico Author-Name-Last: Schutte Author-Email: nico.schutte@nwu.ac.za Author-Workplace-Name: North West University Author-Name: Sonia Swanepoel Author-Name-First: Sonia Author-Name-Last: Swanepoel Author-Email: sonia.swanepoel@nwu.ac.za Author-Workplace-Name: North West University Title: Human Resources Management Professionalism in an Era of Human Resources Management Exceptionalism Abstract: In the current business world we find that the term human resource professional is used loosely by anybody functioning in this role, However, HR specialists are ?professional? because they demonstrate proficiency in doing their work. We see that a professional occupation such as medicine, accounting or law could, nonetheless, be defined as one that gives their members due to their association exclusive rights to practice their profession. Hence, a profession is not so much an occupation as a way to regulate and or legalize an occupation. Therefore, in its current state human resource management is clearly not matching up to this category.This study adopts the notion that the required professional status as in the case of a professional occupation such as medicine can only be achieved through the establishment of inherent competencies in human resource management. The inherent competencies summarise the capabilities that are important across all jobs and that HR professionals need to poses in order to contribute to organisational success. At the same time, the importance of Core Competencies may vary according to the specific job duties and requirements. These inherent competencies help to promote a competency framework that could assist organisations in pursuing excellence of the company. This framework has been produced as a basis, which sets out the core competencies that are expected of all HR professionals. It also functions as a reference for HR Professionals and for their employers to help them focus on developing core HR competencies Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 142-142 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=044&rid=6965 File-Function: First version, 2016 Number: 4306965 Classification-JEL: J24 Keywords: Human Resources management. Professionalism, Occupation, Framework Handle: RePEc:sek:iacpro:4306965 Template-Type: ReDIF-Paper 1.0 Author-Name: Nico Schutte Author-Name-First: Nico Author-Name-Last: Schutte Author-Email: nico.schutte@nwu.ac.za Author-Workplace-Name: North-West University Author-Name: Mamolahluwa Mokoena Author-Name-First: Mamolahluwa Author-Name-Last: Mokoena Author-Email: Mamolahluwa.Mokoena@nwu.ac.za Author-Workplace-Name: North-West University Title: EXPLORING THE APPLICATION OF BLENDED LEARNING SYSTEMS IN A SOUTH AFRICAN HIGHER EDUCATION INSTITUTION Abstract: More and more we hear the expression ?blended learning? being used in higher educational institutions. In support the American Society for Training and Development (cited by Rooney, 2003) also identified blended learning as one of the top ten trends to emerge in the knowledge delivery industry. Moreover, the nonexistence of technological availability prohibited the blending of traditional face-to-face learning with distance and or open learning environments. However, within the last decade the introduction of new technological innovations coined Learner Management Systems (LMS) tried to fill the gap between traditional face-to-face learning and distance and open learning environments. Hence, the question arises on what is this ?blended learning? that the whole world is talking about? The main purpose of this study is to review and analyze the literature on blended learning through reflecting on the past, the present and the future. More specifically this research aim to provide a comprehensive view of blended learning systems and discuss its possible application within the higher educational environment. This article will attempt to provide a basic introduction to blended learning systems and share some trends and issues that might be greatly relevant to the higher educational institution under enquiry who is implementing such systems. To accomplish these goals, the article will also attempt to address the following questions related to blended learning systems such as: How is blended defined? Why higher educational institutions need a blended approach? What current blended learning models exist? What issues and challenges are faced when blending is introduced within a higher educational setting? and What are the future directions of blended learning systems within higher educational institutions? Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 143-143 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=045&rid=6952 File-Function: First version, 2016 Number: 4306952 Classification-JEL: I23 Keywords: Blended learning; hybrid learning; distance and open learning environments; face-to-face learning environments; Handle: RePEc:sek:iacpro:4306952 Template-Type: ReDIF-Paper 1.0 Author-Name: Hadis Siadat Author-Name-First: Hadis Author-Name-Last: Siadat Author-Email: hadissiadat@hotmail.com Author-Workplace-Name: -- Title: China in Africa: Beating the Odds of Underdevelopment Abstract: The onset of the Forum on China-Africa Cooperation (FOCAC) in 2000 paved the way for an increase in aid and investment in the developing countries of Africa. As a result of this, China-Africa trade grew from 11 billion USD in 2000 to 170 billion USD in 2011, making China Africa's largest bilateral trading partner. This partnership is crucial to evaluating Africa's economic growth and whether investments, trade and aid have resulted in the improvement of economic conditions and political stability in the region or if China?s activity in Africa has had a negative impact on the continent. The arguments that follow will support the assumption that high levels of Chinese investments, aid and trade have improved the political economic development of Uganda, Kenya, and Zimbabwe. This paper will look at the impacts that China's financial involvements have had on the political economy of development in Africa. More specifically, the questions that will be addressed are: Has Chinese foreign investments, aid and trade in Kenya, Zimbabwe, and Uganda improved the economic situation in these countries? Has China?s economic engagements had positive or negative effects on Kenya, Uganda and Zimbabwe's development from 2000-2015? The variables that will be used to determine the impacts on Africa will be: economic growth (based on GDP per capita), political inclusiveness (based on Freedom House and Ibrahim Index for African Governance indicators) and Human Development (based on the Human Development Index of health and education). Length: 27 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 144-170 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=046&rid=6934 File-Function: First version, 2016 Number: 5306934 Classification-JEL: A10 Keywords: Development, Trade, Economic growth, Foreign aid, Political inclusiveness, Human development. Handle: RePEc:sek:iacpro:5306934 Template-Type: ReDIF-Paper 1.0 Author-Name: Dusan Soltes Author-Name-First: Dusan Author-Name-Last: Soltes Author-Email: dusan.soltes@fm.uniba.sk Author-Workplace-Name: Faculty of Management, Comenius University Title: The EU Internal Market Needs Much Better Governance of the Schengen Sysem Abstract: The paper is dealing with one of the currently most controversial issues in the EU regarding the protection of the external borders of the EU and thus also the EU internal market in the form of the so-called Schengen external border of the Union. On the one hand it is very difficult for the EU new member states to become a part of the Schengen border protection system like it is still the case of Romania or Bulgaria as it requires a lot of effort and investments into the latest smart ICT technology and all various other technical but also organizational and personnel requirements. But on the other hand, right now we have been witnessing a real disastrous situation on the southern and to some extent still also on the eastern flanks of the Schengen border where thousands of illegal immigrants especially from Africa and Asia are daily illegally entering the territory of the EU in spite of all protection provided by the latest smart surveillance and controlling ICT technology. However, by a certain paradox in many cases these illegal immigrants are entering the EU territory on the principles of International law on humanitarian assistance to people in life threatening situation at open seas. But at the same time the Frontex costal guards are not taking any action against the human traffickers who as human smugglers made huge money collected from those illegal immigrants. Thus they are on both sides of these illegal immigration to the EU violating any elementary principles of the other kind of the International laws i.e. on the fight against human trafficking as a part of the international crime. The paper in more details will be dealing with this evident paradox between the utilization of the latest ICT technology vis-a-vis humanitarian aspects of International humanitarian law, but also the International law on the fight against the human trafficking as an act of the international crime. .: Length: 1 page Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 171-171 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=047&rid=6941 File-Function: First version, 2016 Number: 5306941 Classification-JEL: F02, F15, F22 Keywords: the Schengen area, the Schengen external border of the EU, Smart ICT, SIS ? SCHENGEN Information System Handle: RePEc:sek:iacpro:5306941 Template-Type: ReDIF-Paper 1.0 Author-Name: Michaela Tureckiová Author-Name-First: Michaela Author-Name-Last: Tureckiová Author-Email: michaela.tureckiova@pedf.cuni.cz Author-Workplace-Name: Charles University, Centre of School Management Title: Educational Management and Educational Needs of Teaching Staff Abstract: Educational Management is a relatively new field of educational practice and a new empirical science and educational program in the Czech Republic. The paper deals with the introduction of aims and subject of educational management, its structure and problems with definition of and roles and possibilities of continuing training and education of educational and/or school managers especially in the context of curriculum reform in the Czech Republic. The paper at its final part introduces the major results of the research, conducting within formal re-training educational program. This research was focused on intentions and perspective effects of continuing education of employees of educational organizations from their point of view and from the point of view of management of educational organization. Length: 8 pages Creation-Date: 2016-11 Publication-Status: Published in Proceedings of the Proceedings of the 26th and the 27th International Academic Conference (Istanbul, Prague), Nov 2016, pages 172-179 File-URL: https://iises.net/proceedings/27th-international-academic-conference-prague/table-of-content/detail?cid=53&iid=048&rid=6910 File-Function: First version, 2016 Number: 5306910 Classification-JEL: I29 Keywords: educational management, continuing education, needs and effects of education Handle: RePEc:sek:iacpro:5306910