bluuebunny/crossref_metadata_2025 huggingface dataset:
Desenvolvimento econômico na micro-região de Frederico Westphalen (RS)
Authors: Arns Carlos Eduardo , Piovezana Leonel
Published: December 2016

O artigo sobre desenvolvimento na microrregião de Frederico Westphalen (RS), foi construído a partir de uma proposta metodológica e de sua aplicabilidade, possibilitando a compreensão e a identificação do potencial e dos estrangulamentos do processo de desenvolvimento, bem como para a reflexão dos autores locais. Para a compreensão da temática, tratamos da região como palco do desenvolvimento local e de existência concreta de potencialidades de um desenvolvimento endógeno em regiões rurais a partir da análise dos três macrossetores (agropecuária; indústria e serviços); da identificação dos subsetores "grandes" e destes os considerados "básicos" ou com potencial exportador, mas que são específicos da região, para o qual se utilizou o Quociente Locacional - QL; na identificação dos possíveis encadeamentos e na hierarquização dos setores com algum potencial, pela alta expressão do QL, ou seja, forte potencial exportador e impulcionador da dinâmica endógena da economia local. A microrregião possui uma área de 5.271km2, com uma população de 180.174 habitantes em 2007, apresentando uma taxa de crescimento de 0,75% ao ano no período de 2000/2007, constituída por 27 municípios, que neste estudo foram apontadas as potencialidades e limites para o desenvolvimento econômico. A análise dos QLs, apontam a região, como essencialmente agrícola, com atividades de potencial para desenvolvimento endógeno (específicas) de produção e de diferencial socioeconômico.
Dossiê Vulnerabilidades sociais, poder e desenvolvimento local em territórios rurais
Authors: Grifos Revista
Published: December 2016

Dossiê Vulnerabilidades sociais, poder e desenvolvimentolocal em territórios rurais
A(não) aplicação dos métodos de valoração monetária de bens ambientais em transações penais e suspensões condicionais de processos na Comarca de Chapecó-SC
Authors: Zanini; Pereira Cristiane; Reginaldo
Published: December 2016

O objetivo do presente trabalho é verificar se o Ministério Público do Estado de Santa Catarina, por meio da 9ª Promotoria de Justiça da Comarca de Chapecó, responsável pela Curadoria do Meio Ambiente, utiliza algum método de valoração monetária de bens ambientais no momento da elaboração dos quesitos da pena pecuniária e da reparação do dano, nas propostas de transação penal e suspensão condicional do processo, oferecidos quando da ocorrência de ilícitos ambientais. E com o fito de complementar este estudo, realizaram-se estudos de casos, aplicou-se um questionário aos promotores de justiça dos núcleos regionais 1 e 2 do Órgão Ministerial catarinense com o objetivo de saber se eles têm conhecimento dos métodos de valoração. Utilizou-se, ainda, um questionário aplicado por uma aluna do Mestrado em Ciências Ambientais da Unochapecó, onde os promotores relataram a deficiência no número de profissionais da área ambiental na estrutura do Órgão, o que finda por prejudicar a realização dos trabalhos. Como conclusão, percebe-se a não utilização dos métodos de valoração ambiental por parte dos pesquisadose e também a urgência de uma melhor estruturação, tanto no Ministério Público de Santa Catarina quanto na Polícia Militar de Proteção Ambiental de Santa Catarina, com investimento na contratação de pessoas especializadas nos mais diversas ramos da área ambiental.
A efetividade da terapia de exposição para tratamento do Transtorno de Estresse Pós-Traumático
Authors: Medeiros Letícia Galery , Kristensen Christian Haag
Published: December 2016

O Transtorno de Estresse Pós-Traumático (TEPT) é um transtorno de ansiedade que se desenvolve em indivíduos após a exposição a um evento estressor traumático, como violência interpessoal, acidentes ou desastres naturais. A psicoterapia cognitivo-comportamental (TCC) é o tratamento de escolha para este transtorno podendo envolver diferentes componentes, tais como psicoeducação, reestruturação cognitiva ou exposição. A terapia de exposição possui seus fundamentos na teoria do processamento emocional e pode ser empregada tanto como um componente da TCC quanto como um tratamento único. Este ensaio visa discutir a efetividade da terapia de exposição no TEPT. Inicialmente, serão apresentadas as teorias que embasam os tratamentos cognitivo-comportamentais para o TEPT. Após, serão revisadas as modalidades de exposição para o TEPT e por fim, são consideradas as limitações do tratamento com exposição. Conclui-se que apesar da terapia de exposição não ser efetiva para todos os tipos de pacientes e nem para todos os tipos de traumas, pode ser considerada o tratamento de escolha para o TEPT, apresentando elevado apoio empírico.
O consumo de massa: a obsolescência programada na sociedade contemporânea
Authors: Junior Edinaldo Enoque Silva , Eidt Paulino
Published: December 2016

Este artigo, de cunho teórico, teve como objetivo compreender as transformações societais oriundas da sociedade de consumo – como o mundo se aglutina por meio dos avanços tecnológicos, da homogeneização da cultura baseada no consumo de massa e dos processos de verticalização proveniente dos que consomem e dos que não podem mas querem consumir. Num segundo momento, teve-se como propósito analisar os diferentes padrões de consumo vivenciados no Extremo Oeste de Santa Catarina a partir da primeira metade do século XX. Trata-se de uma análise feita a partir da implantação da propriedade privada na região por descendentes europeus. A região se adaptou a dois períodos distintos: teve, no seu início, poucos parâmetros externos, tendo em vista seu isolamento pela falta de meios de comunicação e de transportes – este período se estendeu até por volta da década de 1970; e, pós-70, quando as grandes agroindústrias (leite, aves e suínos) colocaram-se como centrais irradiadoras da modernidade da região, governando de acordo com suas leis do mercado.
RELAÇÕES DE TRABALHO E REESTRUTURAÇÃO PRODUTIVA NO CAPITALISMO OCIDENTAL: AS CRISES E OS (NOVOS) DISPOSITIVOS DE CONTROLE
Authors: Pauli Jandir
Published: December 2016

Este artigo analisa as crises e as consequentes reestruturações produtivas que marcaram a história do capitalismo ocidental sob a perspectiva dos novos dispositivos que marcaram as relações de trabalho em cada uma dessas etapas. Para isto, desenvolve uma breve história do trabalho a partir dos novos dispositivos de controle sobre os trabalhadores instalados no percurso das reestruturações. O plano de fundo é apresentar elementos teóricos para justificar que, além do discurso da humanização do trabalho, entraram em jogo novos elementos de captura da subjetividade operária para ampliar a acumulação de capital. Estes pressupostos levam a concluir que, na atualidade, o desafio da superação da precariedade do trabalho ainda persiste e torna-se um imperativo social diante da importância do trabalho como elemento-chave da socialização humana.
A IMPLEMENTAÇÃO DO PLANO TERRITORIAL DE DESENVOLVIMENTO RURAL SUSTENTÁVEL E DO PROGRAMA TERRITÓRIOS DA CIDADANIA NO ESTADO DE RONDÔNIA
Authors: Oliveira Oleides Francisca de , Costa Gleimíria Batista da , Campos Heleniza Ávila , Silva Jeoval Batista da
Published: December 2016

Este artigo aborda as intervenções voltadas ao desenvolvimento territorial no Brasil, pelas políticas de desenvolvimento local/rural e mais especificamente pelo Plano Territorial de Desenvolvimento Rural Sustentável (PTDRS) no Estado de Rondônia. Essa política, implantada no início do Governo Lula (2003), centrou-se em dois recortes territoriais em Rondônia: o Central e o Madeira Mamoré, à medida que foram os dois primeiros a participarem do Plano no estado. O artigo está estruturado em dois momentos: no primeiro, analisam-se os principais resultados do levantamento referente ao fluxo migratório para a ocupação e desenvolvimento do Estado de Rondônia entre 1950 e 2010; no segundo, reflete-se sobre a implantação do Programa Territórios da Cidadania nos dois recortes territoriais de Rondônia. Utilizam-se os procedimentos de análise de dados estatísticos disponíveis em órgãos oficiais e pesquisa documental – disponibilizada pelo Ministério de Desenvolvimento Agrário (MDA) – acerca de conceitos e avaliações de políticas públicas rurais no País. Parte-se da hipótese de que, no Brasil, a condição centralizada das políticas públicas rurais implementadas pelo governo federal pouco consideram as características regionais diferenciadas espacial, social e economicamente.
Movimentos Sociais: legitimação da participação social na saúde
Authors: Quaresma Silvia Jurema Leone
Published: December 2016

O artigo tem por finalidade discutir a participação social no sistema de saúde brasileiro, abordando a participação via movimentos sociais. Na primeira parte do trabalho analisamos os conceitos de sociedade civil e movimentos sociais e, em seguida, avaliamos  os movimentos sociais na saúde que foram importantes atores no desenvolvimento do atual sistema de saúde. Na segunda parte   abordamos o conceito de participação social e, posteriormente, discutimos a participação social na saúde, destacando algumas de suas limitações nos Conselhos de Saúde, segundo pesquisas realizadas nas regiões sul e sudeste. Concluímos o artigo enfatizando alguns pontos positivos dessa participação.
Conselho de saúde: uma reflexão sobre os processos de participação dos conselheiros
Authors: Colliselli Liane , Reibnitz Kenya Schmidt , Kleba Maria Elisabeth , Comerlatto Dunia
Published: December 2016

Este estudo tem como objetivo identificar os motivos que levam os conselheiros a se inserir, continuar e/ ou desligar-se do conselho municipal de saúde. Está sustentado teoricamente no conceito de participação de Bordenave e Demo. A metodologia utilizada baseia-se na abordagem qualitativa do tipo estudo de caso instrumental. Para a coleta de dados, utilizou-se análise documental, entrevistas individuais e observação. Os resultados apontam que os motivos referidos para iniciar, permanecer e se desligar incluem: convite ou indicação; o gostar e conceder oportunidade a outras pessoas. A participação, para além da presença física, demanda inúmeros recursos, como: conhecimento, tempo, acesso e compreensão das informações, articulação, comprometimento, descentralização do poder, entre outros. Neste sentido, a participação nos conselhos é um processo em construção que deve ser fortalecido para efetivar o exercício do controle social na área da saúde, conforme tem sido preconizado pela legislação brasileira.
De mulheres camponesas em movimento na América Latina ao Movimento de Mulheres Camponesas do Brasil
Authors: Conte Isaura Isabel
Published: December 2016

A voz e as demandas políticas das mulheres camponesas no Brasil, na América Latina, e, poderíamos dizer, em todos os continentes aparece tardiamente na história. Isto não significa que se mantivessem passivas ou que não desencadeassem processos de luta, especialmente por mantimentos, por água, terra, enfim, pela defesa de direitos à sobrevivência primeiramente, direitos do mundo do trabalho, e, ou junto a ele a reivindicação da cidadania. Neste ensaio trataremos de movimentos feitos por mulheres camponesas da América Latina, destacando as indígenas, até chegar ao Movimento de Mulheres Camponesas (MMC) do Brasil, e, podemos dizer em síntese, que todas lutam pela saída da invisibilidade e por espaços políticos. As camponesas do MMC, desde 2004, ao formarem um Movimento em âmbito nacional, se assumem feministas.
Sumário
Authors: . .
Published: December 2016

contém, além do sumário, o expediente deste volume/número
Breves considerações sobre a problemática ambiental e o uso do carvão mineral na matriz energética brasileira
Authors: Santos Gleicy Vasques
Published: December 2016

O objetivo do trabalho é apresentar a discussão em torno da diversificação da matriz energética brasileira, que se estabelece desde o início do século XXI. De um lado, compreende-se a importância do uso de energias novas, como as “alternativas”, “renováveis”, “limpas”, “bioenergias”, “biocombustíveis”, “verdes” e, de outro lado, reafirma-se o uso das energias de fontes convencionais, como a energia nuclear e termelétrica. Com isso, o carvão apresenta-se como uma opção contraditória, pois detém uma qualidade ao garantir uma segurança no sistema energético, mas, também um demérito, posto que, contribui diretamente na emissão de gases do efeito estufa, causa principal da mudança climática e do aquecimento global. Parte-se do aporte metodológico desenvolvido pela ecologia política, com uma reflexão acerca do conceito de território e a compreensão das complexas relações socioespaciais estabelecidas na contemporaneidade.
MUSEU TENENTE CAMARGO TENTAME FRUSTRADO DO EXÉRCITO PARA CRIAÇÃO DE UM MUSEU CASA HISTÓRICA MILITAR
Authors: Zatta Ronaldo
Published: December 2016

Este artigo tenta elaborar uma análise sobre uma a tentativa fracassada de criação de um Museu Casa Histórica Militar no sudoeste do Paraná por oficiais do Exército brasileiro em 2005/2006 que pretendia ser denominado Museu Tenente Camargo em homenagem a um “herói” militar das operações de contraguerrilha de 1965; e, a sequente desautorização de funcionamento do museu expedida pelo escalão superior militar em 2010. Ações que têm revelado o dissenso sobre como os militares lembram, ou então selecionam o que deve ser lembrando, sobre episódios da Ditadura militar brasileira. Entretanto, a ação política institucional de criação de uma casa museal oportunizou visitações, que nos casos em que foram devidamente orientadas, se apresentaram com uma excelente oportunidade de educação patrimonial sobre a colonização regional e Ditadura Militar.
A estatização da vida e a condição política da amizade em Giorgio Agamben
Authors: Bazzanella Sandro Luiz , Maciel Jonas Fabio
Published: December 2016

O paradoxo que se estabelece em torno desta ansiosa busca pela vida é que em nenhum outro momento da história Ocidental a vida foi tão requisitada, ao mesmo tempo em que é obliterada, violentada e, reduzida em suas potencialidades ontológicas e políticas à mera condição biológica. A efemeridade, o instantâneo e o emergencial impedem ou dificultam os seres humanos de fazerem experiências na contemporaneidade, das formas-de-vida na qual transcorre o conjunto de eventos que compõem o que se denomina de vida. Frente ao fato, Agamben recorre aos princípios conceituais aristotélicos para estabelecer o vínculo que permite encontrar na amizade a dimensão ontológica e política da vida humana. Nesse sentido, a partir das reflexões agambenianas, no nobre sentimento da amizade encontram-se as potencialidades de uma vida que vem.
Sumário v.25, n.40
Authors: Grifos Revista
Published: December 2016

Sumário v.25, n.40
Instrumentos de gestão municipal: em discussão a relação entre Planos de Governo, Plurianual e de Assistência Social
Authors: Stocco Gelcir Bressan , Comerlatto Dunia
Published: December 2016

Este artigo traz uma discussão sobre os planos de Governo, Plurianual e de Assistência Social como instrumentos para desencadear, nas atividades e ações de gestão municipal, processos participativos e de qualificação no âmbito das políticas públicas. Os municípios brasileiros estão sendo desafiados pela questão econômica, e isso envolve aspectos sociais, culturais, políticos e de gestão. Para enfrentar esses desafios é necessário o planejamento municipal, requerendo da administração pública competência e efetividade por parte dos seus gestores – e estes devem se atualizar e agir por meio de instrumentos de planejamento. Com o intuito de reconhecer o relacionamento estabelecido entre os referidos planos, foram pesquisados cinco municípios de Pequeno Porte 1 na abrangência de um micropolo regional do Oeste catarinense. Os depoimentos obtidos a partir dos relatos dos sujeitos entrevistados (coordenadores de campanha eleitoral, prefeitos eleitos, gestores e trabalhadores da política de assistência social), expressam a relação entre esses três planos como instrumentos de gestão municipal em cada um dos municípios pesquisados. Identifica-se, na maioria dos depoimentos dos sujeitos entrevistados, a inexistência e/ou baixa capacidade de relação e articulação entre as propostas contidas no Plano de Governo do prefeito eleito, Plano Plurianual (PPA) e Plano Municipal de Assistência Social. (PMAS). Ainda, há desconhecimento da importância desses planos, como instrumentos de planejamento e gestão pública nos municípios. O lugar da política de assistência social na realidade estudada apresenta lacunas tanto na sua visibilidade como política pública quanto na sua articulação com o planejamento municipal, de modo que não está decisivamente concebida e praticada nessa lógica, por parte de prefeitos e gestores e trabalhadores. É necessário e de fundamental importância que prefeitos, gestores e trabalhadores, responsáveis pela gestão municipal da política de assistência social, decidam por um direcionamento administrativo e sociopolítico planejado, que redefina padrões e processos de condução, a fim de construir bases de direção participativa e democrática no acesso aos processos de gestão.
Re-estimation of company insolvency prediction models: Survey on Italian manufacturing companies
Authors: Giacosa Elisa , Halili Estela , Mazzoleni Alberto , Teodori Claudio , Veneziani Monica
Published: December 2016

The global research stems from the relevance of the global economic crisis.
The research has several objectives: 1) to test the degree of effectiveness of the insolvency prediction models, most widely used in the literature, including recent works (Jackson and Wood, 2013), with reference to Italian manufacturing companies; 2) to modify the insolvency prediction models selected with the aim of identifying a company insolvency “alert model” which can be used by the various stakeholders; 3) to compare the effectiveness of the re-estimated models vis-à-vis the original ones. The following models were used, selected according to their diffusion and the statistical technique used: 1) Discriminant analysis: - Altman (1983), - Taffler (1983); 2) Logit Analysis: - Ohlson (1980). The study was carried out on a population of Italian companies (27,982 non-failed and 478 failed) with financial statements available for the years 2007-2012. It emerged that, the overall error of the original models, using the original cut-off points, is significant. The error is reduced for cut-off points different from those identified by the original authors. Furthermore, the new re-estimated models have an improved or identical effectiveness vis-à-vis the original models. In particular, the Ohlson re-estimated model is the one that improves most compared to the original model; however, the effectiveness of the Ohlson re-estimated model is lower than the Altman re-estimated model.
Sustainability performance: It’s impact on risk and value of the firm
Authors: Haryono Untung , Iskandar Rusdiah , Paminto Ardi , Ulfah Yana
Published: December 2016

This study aims to analyze the relationship between the sustainability performances (corporate social performance, good corporate governance, and financial performance) and the risk as well as the value of the company. Employing the data from publicly listed mining firms in Indonesia and structural equation modeling to examine the hypotheses, we find that the corporate social performance improvement can be served to increase the corporate financial performance. Implementation of good corporate governance may contribute to improve financial performance and reduce the risk of the company. In short term, investors will appreciate the social and environmental responsibility undertaken by the company only if its implementation can contribute to the improvement of the company’s financial performance. In long term, social and environmental performance improvements made by the company will be able to increase the value of the company directly. Investors consider companies that apply the principles of good corporate governance not just as regulatory compliance, so that it can provide benefits for improving corporate performance and value of the company, in the short term and long term.
Organisational citizenship behaviour and employee perception of equity on organisational commitment
Authors: Chinomona Elizabeth
Published: December 2016

Small and Medium Enterprises (SMEs) are regarded as engines of economic growth and major instruments of employment generation in Zimbabwe. However, they are hampered by a lack of resources, poor administration and the inadequate knowledge and training of employees. The primary objective of the research was to investigate the influence of organisational citizenship behaviour (OCB) and employee perception of equity (EPE) on organisational commitment (OC) in Zimbabwean SMEs. A survey design with a sample (n=464) was used. Research scales were operationalised mainly on the basis of previous work. Minor adaptations were made in order to fit the current research context and purpose. Seven-item Likert scales were used to measure OCB, EPE and OC through confirmatory factor analysis and structural equation modelling. Through structural equation modelling and path analysis, the results indicated that there are positive relationships between the posited research variables (OCB, EPE and OC). Practical recommendations are made to the managers in the SME sector to adopt professional codes of conduct at their workplace to enhance OCBs, EPE and ultimately, OC.
Corporate governance and value creation index
Authors: Satnalika Niraj , Nageswara Rao S.V.D.
Published: December 2016

This study aims to create a methodology to measure good governance and value creation with the help of an index composed of two sub-indices which corresponds to corporate governance and value creation (CGVC). The proposed index measures corporate governance quality that collapse into one number (a governance rating or index) and helps in analysing the effectiveness of corporate governance index in predicting value creation. We believe there is no one “best” measure of corporate governance, however, the most effective governance system depends on context and firm related circumstances. Thus, it is generally difficult for an index, or any one variable, to capture such nuances which may be critical for making informed decisions. Having said that, the index beautifully helps in giving a fair idea about governance practices followed by companies’ in India. The CGVC index is constituted after investigating governance practices in BSE 100 companies which accounts for nearly 66% of the market capitalisation (as of March 2014). The study investigates corporate governance practices followed by the company in terms of 11 parameters identified (based on various recommendations given by the several committees) coupled with value created for different stakeholders. The period under study (2006-07 to 2013-14) is known for several volatilities and has remained one of the key themes in the global business environment. Economic uncertainties and changing business landscape left investors unnerved. While growth in largest economies declined, it had ripple effect on emerging economies. We have followed a two-step methodology where equal weightage is assigned to both the sub-indices. For sub-indices we have followed survey methodology where we interviewed personnel including board members, entry and mid-level employees of companies, regulatory participants, and stock brokers. Lastly, the paper aims to fill the gaps and conduct a thorough review of corporate governance and its relationship with value creation for one of the fastest growing emerging markets i.e., Indian economy.
Effectiveness of corporate governance and measurement challenges
Authors: Sahay Mridula
Published: December 2016

Growth and profits are key performance indicators for sustainable Corporations. As a result of this, competition between corporations has become intense with everyone trying to outperform the other. In this process there are performers, losers, winning situations and crisis situations. These outcomes are a result of how effectively the corporations/organizations are managed/governed. The Business World in the last few years has witnessed a financial crisis due to several reasons. One of the key reasons for the crisis has been attributed to lack of good and effective Corporate Governance. In light of the Global Financial Crisis that began in 2007, this paper tries to establish the importance of effective corporate governance. The paper has traced these failures stemming from the perspective of corporate governance by looking at different reports. It goes on to define a Corporation from the perspective of the stakeholder expectation, and the importance of Governance, it brings out the systemic gaps against this background. It further goes to identify the factors contributing to effective corporate governance, how it could be measured and the challenges involved in the process. Based on this understanding it proposes an approach which can be used to define a framework to measure the effectiveness for Corporate Governance.
A comparison of different approaches to modeling financial statements
Authors: O’Farrell Grace , Liu Chunhui
Published: December 2016

This paper describes the relational, entity-relationship (ER), and object-based approaches to modeling financial statements; and discusses the strengths, weaknesses, and user adaptability of these models. We believe that the relational, ER, and object-oriented models may not be individually adequate to model the accounting processes in an integrative accounting information system. The increasing amount of disclosures in the footnotes to the financial statements and the complex compliance requirements of the Sarbanes-Oxley Act suggest that the object-relational model may be appropriate to model both the quantitative and qualitative items in the accounting processes. The object-relational model builds on the strengths of the relational, ER, and object-oriented models and mitigates the weaknesses of these models. We develop a set of propositions based on our review of the current literature on the conceptual models.
Workload issues and trends: Demographic influences
Authors: Abdoolla Aaliya , Govender Patsy
Published: December 2016

This study aims to assess the demographic influences on work intensification (work-family conflict, work flexibility, managerial/supervisory support, child/elderly care and employee wellness) of office-based employees in a public sector organization. A survey method was adopted for this quantitative study, and a sample of 100 employees was drawn utilizing the simple random sampling technique. The differing responses and findings reveal significant differences with each demographic factor (age, marital status, race, education qualifications, position in organization, length of service and number of children) and at least one construct of work intensification. The study utilizes a self-developed questionnaire which was pilot-tested; and the validity and reliability was determined. An interesting finding in the study is that the volume of workload emerged with significant differences with five of the demographic variables. Based on the results of the study, the recommendations provide practical implications and a useful guide for managers who work with a diverse workforce with the goal of enhancing productivity and performance on an ongoing basis. The article culminates with a discussion of recommendations and conclusion.
Determinants of Egyptian banks profitability before and after financial crisis
Authors: El-Ansary Osama A. , Megahed Mohamed I.
Published: December 2016

One of the most important instruments of the financial system that reveals the future of the economy in any country is the profitability of the banking sector. Starting from 2008, Egypt was banged by consecutive shocks, both globally and locally, started with global financial crisis in Sep., 2008. The essential objective of the current study is to investigate factors that affect Egyptian banks’ profitability before and after financial crisis using Generalized Method of Moments (GMM) through Eviews. The sample period covers from 2004 to 2013, return on assets and return on equity were used as proxy for banks’ profitability. The explanatory variables which affect profitability are deposits to total assets ratio, operating income to asset ratio, credit quality, capital adequacy, loans rate, equity growth minus loan growth rate, asset share ratio and Egyptian banks’ total assets to Egyptian gross domestic product (GDP).The empirical findings suggested that Egyptian banks with higher capital strength, asset share, and efficient management exhibit higher profitability level, whilst Egyptian banks with higher credit risk and loans intensity exhibit lower profitability level.
Board diversity and corporate payout policy: Do free cash flow and ownership concentration matter?
Authors: AL-Dhamari Redhwan Ahmed , Ku Ismail Ku Nor Izah , Al-Gamrh Bakr Ali
Published: December 2016

This study investigates the effect of board diversity in terms of gender and ethnicity on dividend payout policy when a firm has free cash flow agency problem. It also tests whether the probability of diverse boards would minimize free cash flow agency problem through making large dividend payments is more pronounced in firms with high ownership concentration. We find that our results differ based on how corporate dividend policy is measured, and vary by the level of free cash flows and ownership concentration. More specifically, we find that women’s (Malays’) presence on boards has positive impact on dividend yield (dividend payout), and this effect conditional on the level of free cash flows generated by firms. Our results also show that the role of female and Malay directors in forcing controlling shareholders of firms with substantial free cash flows to cash out the firms’ resources through making higher dividend payments is more prominent when the firms’ ownership structure is concentrated in the hand of largest shareholders. The findings of our study, to some extent, support the government calls for increasing the number of women participation on corporate boardrooms and the participation of Malays in corporate sector.
The relationship between ownership, management and performance in family-run business in Oman: Case of Dhofar province
Authors: Salih Atiya Tariq Mohamed , Hussein Muawya Ahmed , Al Maashani Khalid
Published: December 2016

This paper investigates the extent to which the family businesses ownership is separated from their management in the governorate of Dhofar, in Oman. The objective is to examine the impact of ownership and management separation on the performance of the family businesses. The study uses the descriptive survey method and a sample of 36 family owned businesses for the survey. A questionnaire is used to collect data. The findings of study shows positive relationship between the separation of ownership and customer as well as employees satisfaction also has statistical significance on the different dimensions of the dependent variable (corporate performance).
Company and asset specific risk factors: Short overview on high yield bonds
Authors: Lappalainen Aki
Published: December 2016

This paper discusses the theory that risk factors divide to the company specific and asset specific risk factors. The first group affects to the expected value of an equity of a company whereas the second only to the positive cash outflows for a specific asset. I find that equity market, value, and quality factors are indeed possible company specific risk factors with influence on an expected equity of a company and dividend and volatility factors are possible stock specific risk factors affecting positively to dividends and other cash payments from a company to shareholders. These results are statistically significant and important for our understanding of risk factors and their characteristics.
Opportunistic behavior and public spending: The case of Indonesia
Authors: Muhtar Muhtar , Rohman Abdul , Chariri Anis
Published: December 2016

This paper investigates the determinants of opportunistic behavior of executives in the local governments in Indonesia. We study 502 regional governments over the 2008-2013 periods. Opportunistic behavior is measured by the level of social spending and capital expenditures. The main determinants of opportunistic behavior come from the composition of local government income. We also include the integrity of apparatus as the determinant of opportunistic behavior. Our results reveal that the composition of income matters to explain the budget allocation. Some policy implications are discussed.
Ownership structure and turnaround processes: Evidences from Italian listed companies
Authors: Grimaldi Francesco
Published: December 2016

The aim of this research is to investigate the relationship between ownership structures and turnaround processes in the Italian context. In fact, with the exception of the analysis of individual business cases - relating to incidents of fraud, bankruptcy and failure to rehabilitate the business, it does not seem to have been made, at the time, specific theoretical and empirical studies on the relationship between ownership structure and processes turnaround / crisis in Italian listed companies, in which the reference model is the family business, even in large companies. This research does not extend the results obtained from studies conducted in different contexts outright to Italian companies, but considers the peculiarities of the Italian model of corporate governance, characterized by concentrated ownership structure, by the low proportion of banks and institutional investors and the conflict of interests between shareholders control and minority shareholders
Persistent high liquidity, ownership structure and firm performance: Indian evidence
Authors: Ganguli Santanu K.
Published: December 2016

The paper investigates the characteristics and performance of the persistent high liquidity firms in India in the backdrop of ownership concentration. Empirical evidence reveals that the persistent high liquidity firms consistently post superior performance, have better growth prospect and resort to less debt financing. Ownership structure has no influence on the performance of such firms. Consistent with trade off theory we find that persistent cash holding as a policy beyond a certain period may hinder performance. Industry-and- size matched comparison firms with non-persistent liquidity tend to overinvest having a negative impact on performance. Ownership concentration adversely impacts performance of such firms.
Corporate financing strategies employed by Zimbabwean listed firms in the multiple currency era
Authors: Kwenda Farai
Published: December 2016

The aim of this study is to review the corporate financing strategies employed by Zimbabwean listed firms since the adoption of the multiple currency system which set the country on a recovery path after the decade-long political, social and economic crises. The adoption of the multiple currency system necessitated recapitalization and retooling because most firms’ balance sheets were wiped away during the hyperinflation era. The study is based on secondary data of 80 firms listed on the Zimbabwe Stock Exchange. The study found that rights issues and high retention ratios were the main strategies used by firms to recapitalize their operations. The recapitalization efforts have been by liquidity challenges that have characterised the multiple currency era
The credit consumption pattern in South Africa: A trend analysis
Authors: Mutezo Ashley Teedzwi
Published: December 2016

While the developed countries witnessed a significant contraction in credit consumption in response to the financial crisis in 2008, South Africa’s household debt continues to be on the increase. This article is based on empirical research on the relationship between household debt and disposable income, net wealth, interest rates and inflation for the period between 1975 and 2013. Using regression analyses, the study examines the linkage between household debt and consumption spending in South Africa to capture the short-run and long-run dynamics. The results show that there is a significant relationship between household debt and disposable income, net wealth and inflation. Further tests indicate that there is a bidirectional causality running from economic growth to household debt and vice versa. However, it is revealed that there is no direct relationship between household debt and lending rates
Futures and forward contract as a route of hedging the risk
Authors: Islam Misbahul , Chakraborti Jayanta
Published: December 2016

In the present highly uncertain business scenario, the importance of risk management is much greater than ever before. Variations in the prices of agricultural and non-agricultural commodities are induced, over time, by demand-supply dynamics. The last two decades have witnessed many-fold increase in the volume of international trade and business due to the wave of globalization and liberalization sweeping across the world. This has led to rapid and unpredictable variations in financial assets prices, interest rates and exchange rates, and subsequently, to exposing the corporate world to an unwieldy financial risk. As a result, financial markets have experienced rapid variations in interest and exchange rates, stock market prices thus exposing the corporate world to a state of growing financial risk. The emergence of derivatives market is an ingenious feat of financial engineering that provides an effective and less costly solution to the problem of risk that is embedded in the price unpredictability of the underlying asset. Derivatives provide an effective solution to the problem of risk caused by uncertainty and volatility in underlying assets. These are the financial instruments that are linked to a specific financial instrument or indicator or commodity and through which specific risks can be traded in financial markets in their own right. In actual practice there are various different types of derivatives but this paper emphasizes on the two most important types of derivatives i.e. futures and forward contracts. These two are the most commonly used types of derivatives in financial markets. We can hedge the risk of price variations in stocks, bonds, commodities, currencies, interest rates, market indices etc. This study is about the futures and forward contracts. This paper presents various types of futures and forward contract and what advantages and disadvantages these two important types of derivatives have? It also includes that how futures and forward contacts can be used as hedging tools of risk management.
On the relationship between investor sentiment, VIX and trading volume
Authors: So Simon Man Shing , Lei Violet U. T.
Published: December 2016

As noise traders affect stock market by trading, sentiment, as a signal of noise, may have relationships with trading volume. This paper explores the effect of sentiment on the stock market’s trading volume. Increase in Volatility Index (VIX) can explain the percentage increase in trading volume, but only in high VIX period. Besides, higher level of VIX is likely to be associated with greater variability of trading volume. The noise traders add liquidity to the market and provide more chances for investors to time their trade as the volatility of liquidity increases. These two kinds of impact lower rational investors’ required return. The noise traders not only drive the price deviating from fundamental value, but also influence the liquidity dimensions
Comparative studies of risk, concentration and efficiency in transition economies
Authors: Djalilov Khurshid , Lyeonov Serhiy , Buriak Anna
Published: December 2016

This paper compares the risk taking behaviour of banks in two groups of early and late transition countries during two periods: the pre-crisis (2000-2006) and the financially turbulent (2007-2012). Using data for 254 banks for the period 2000-2012 we find that during the stable period (2000-2006) the banks with higher concentration and higher technical efficiency take more risks in the late transition countries, while this is ambiguous for the turbulent period (2007-2012). This supports the ‘competition-stability’ hypothesis during the stable period (2000-2006) for the late transition countries. Although the concentration ratio did not change much in the early transition countries for the periods 2000-2006 and 2007-2012, the banks with higher concentration and higher technical efficiency tend to take less risks during the stable period (2000-2006), but more during the turbulent period (2007-2012).
Assessment of genetic diversity within the Merodon ruficornis species group (Diptera: Syrphidae) by RAPD analysis
Authors: Andric Andrijana , Kocis-Tubic Natasa , Djan Mihajla , Vujic Ante , Obreht-Vidakovic Dragana
Published: December 2016

As one of the most distinct groups in the hoverfly genus Merodon, the
monophyletic ruficornis species group has been the focus of several studies
using different approaches. Molecular methods have shown incongruences
between morphological and molecular data. In the present study, we
investigated four species of the Merodon ruficornis group (i.e. M. loewi, M.
armipes, M. papillus and M. hoplitis) with the aim of detecting intra- and
interspecific genetic diversity, and we examined the usefulness of random
amplified polymorphic DNA (RAPD) in an integrative taxonomic approach to
species delimitation. Analysis of Nei?s genetic variation over all loci
showed that genetic diversity for the analyzed Merodon species was h=0.24.
Based on UPGMA, PCoA and Bayesian clustering analyses, our results clearly
differentiated four groups that correspond to the four
morphologically-defined Merodon species. Among the analyzed species, M.
armipes and M. hoplitis showed the lowest level of genetic divergence; M.
loewi was clearly separated from both M. armipes and M. papillus. Based on
our data, we propose the use of RAPD-PCR as an additional tool for resolving
taxonomic problems within Merodon.
Carathéodory’s approximate solution to stochastic differential delay equation
Authors: Kim Young-Ho
Published: December 2016

The main aim of this paper is to discuss Carath?odory?s and Euler-Maruyama?s
approximate solutions to stochastic differential delay equation. To make the
theory more understandable, we impose the non-uniform Lipschitz condition and
non-linear growth condition.
Reducibility of certain Kampé de Fériet function with an application to generating relations for products of two Laguerre polynomials
Authors: Choi Junesang , Rathie Arjun
Published: December 2016

It has been an interesting and natural research subject to consider the
reducibility of some extensively generalized special functions. In this
regard, Kamp? de F?riet function has been attracted by many mathematicians.
The authors [7] also established many interesting cases of the reducibility
of Kamp? de F?riet function by employing generalizations of the two results
for the terminating 2F1(2) hypergeometric identities due to Kim et al. In
this sequel, we first aim at presenting several interesting cases of the
reducibility of Kamp? de F?riet function by using generalizations of
classical Kummer?s summation theorem due to Lavoie et al. We next show how
one can use the above-given result to obtain eleven new generating relations
for products of two Laguerre polynomials in a single-form result. We also
consider many interesting and potentially useful specials cases of our main
results.
On completely monotonic and related functions
Authors: Guo Senlin
Published: December 2016

In this article, we study recent investigations on completely monotonic and
related functions. An open problem is presented.
Multivalued operator with respect generalized distance on Menger probabilistic metric spaces
Authors: Saadati Reza
Published: December 2016

In this paper, we recall the concept of r-distance on a Menger probabilistic
metric space. Further we prove a fixed point theorem for contractive type
multi-valued operators in terms of a r-distance on a complete Menger
probabilistic metric space.
Combinatorial identities associated with Bernstein type basis functions
Authors: Simsek Yilmaz
Published: December 2016

In this paper, we give some identities and relations for the Bernstein basis
functions and the beta type polynomials. Integrating these identities, we
derive many identities and formulas, some old and some new, for combinatorial
sums involving binomial coefficients and the Catalan numbers. We also give
remarks and comments on these identities.
Generalized typically real functions
Authors: Kanas Stanisława , Tatarczak Anna
Published: December 2016

Let f(z)=z+a2z2+... be regular in the unit disk and real valued if and
only if z is real and |z| < 1. Then f(z) is said to be typically real
function. Rogosinski found the necessary and sufficient condition for a
regular function to be typically-real. The main purpose of the paper is a
consideration of the generalized typically-real functions defined via the
generating function of the generalized Chebyshev polynomials of the second
kind ?p,q(ei?;z)=1 /(1-pzei?)(1-qze-i?) = ??,n=0 Un(p,q; ei?)zn,
where -1 ? p,q ? 1; ?? ?0,2??i, |z|<1.
Convergence of iterative algorithms for continuous pseudocontractive mappings
Authors: Jung Jong
Published: December 2016

In this paper, we prove strong convergence of a path for a convex combination
of a pseudocontractive type of operators in a real reflexive Banach space
having a weakly continuous duality mapping J? with gauge function ?. Using
path convergency, we establish strong convergence of an implicit iterative
algorithm for a pseudocontractive mapping combined with a strongly
pseudocontractive mapping in the same Banach space.
Statistical approximation properties of Stancu type q-Baskakov-Kantorovich operators
Authors: Mishra Vishnu , Sharma Preeti , Kiliçman Adem , Jain Dilip
Published: December 2016

In the present paper, we consider Stancu type generalization of
Baskakov-Kantorovich operators based on the q-integers and obtain
statistical and weighted statistical approximation properties of these
operators. Rates of statistical convergence by means of the modulus of
continuity and the Lipschitz type function are also established for said
operators. Finally, we construct a bivariate generalization of the operator
and also obtain the statistical approximation properties.
An elliptic extension of the Genocchi polynomials
Authors: Ge Ji-Ke , Luo Qiu-Ming
Published: December 2016

We define an elliptic extension of the Genocchi polynomials and obtain the
sums of products for the elliptic Genocchi polynomials. The formulas of sums
of products for the Genocchi polynomials are also derived.
A note on fractional integral operator associated with multiindex Mittag-Leffler functions
Authors: Choi Junesang , Agarwal Praveen
Published: December 2016

Recently Kiryakova and several other ones have investigated so-called
multiindex Mittag-Leffler functions associated with fractional calculus.
Here, in this paper, we aim at establishing a new fractional integration
formula (of pathway type) involving the generalized multiindex Mittag-Leffler
function E?,k[(?j,?j)m;z]. Some interesting special cases of our main result
are also considered and shown to be connected with certain known ones.
Approximation fixed theorems for α-partial weakly Zamfirescu mappings with application to homotopy invariance
Authors: Ninsri Aphinat , Sintunavarat Wutiphol
Published: December 2016

In this paper, we introduce the concept of ?-partial weakly Zamfirescu
mappings and give some approximate fixed point results for this mapping in
?-complete metric spaces. We also give some approximate fixed point results
in ?-complete metric space endowed with an arbitrary binary relation and
approximate fixed point results in ?-complete metric space endowed with
graph. As application, we give homotopy results for ?-partial weakly
Zamfirescu mapping.
Generalized Hyers-Ulam stability of cubic functional inequality
Authors: Kim Hark-Mahn , Son Eunyoung
Published: December 2016

In this article, we investigate the generalized Hyers-Ulam stability of a
cubic functional inequality in Banach spaces and in non-Archimedean Banach
spaces by using fixed point method and direct method, respectively.