Diana GIOACASI *
Abstract: Economic development and the emergence of new technologies have changed the
optics on the factors that are generating added value. The transition from a resource-dependent economy to one focused on tangible non-financial factors has progressed in a gradual manner and took place under the influence of globalization and of the internet boom. The aim of this article is to provide a theoreticalapproach to this phenomenon from the perspective of the temporal evolution of enterprise resources.
The transition to sustainability is a global project, and without China as an active supporter coping with this challenge will be impossible for the international community. The necessity to involve China is exemplified by the case of greenhouse gases (GHGs): the country is already responsible for about 28 percent of global emissions. In recent years the United Nations has increasingly urged the Chinese government to assume a more active and responsible role in international climate policy — a request to which China has complied by adopting a proactive role during the 2015 Paris World Climate Summit and beyond. However, there are plenty of expectations placed on China as an international actor both by other states as well as by domestic stakeholders. They encompass a wide spectrum of, in parts, incompatible political, economic, social, and ecological issues. The dichotomy that exists in the sustainability-related expectations molding China’s self-conception and behavior originates particularly in two factual conditions: first, the country’s role as a substantial driver of the global economy and, second, its additional need to further spur economic development in its own less developed domestic regions. Using a role theoreticalapproach, the article seeks to examine the parameters that influence China's space for thought and action in the global transition process. The aim is to contribute to the existing body of research on the relationship between structure and actors in politics during the course of sustainability transitions. It thus strives to present an additional perspective on the potentials, limits, and motivations of nation- states to either promote a sustainability-related transition process or to remain on a conventional, unsustainable path.
Abstract: In the following, we offer a theoreticalapproach that attempts to explain (Comments 1-3)
why and when the Macaulay duration concept happens to be a good approximation of a bond’s price sensitivity. We are concerned with the basic immunization problem with a single liability to be dis- charged at a future time q. Our idea is to divide the class K of all shifts a(t) of a term structure of inter- est rates s(t) into many classes and then to find a sufficient and necessary condition a given bond portfolio, dependent on a class of shifts, must satisfy to secure immunization at time q against all shifts a(t) from that class. For this purpose, we introduce the notions of dedicated duration and dedicated convexity. For each class of shifts, we show how to choose from a bond market under consideration a portfolio with maximal dedicated convexity among all immunizing portfolios. We demonstrate that the portfolio yields the maximal unanticipated rate of return and appears to be uniquely determined as a barbell strategy (portfolio) built up with 2 zero-coupon bearing bonds with maximal and respective minimal dedicated durations. Finally, an open problem addressed to researchers performing empirical studies is formulated.
Abstract. Three notions of item equivalency are distinguished. They correspond to the back-translation approach, the psychometric IRT approach, and the facet-theoreticalapproach. The latter defines equivalent item as items that answer the same questions. The question, then, is explicated in terms of its design. This yields the item’s blueprint. One can extract such blueprints by studying given items, but the result is generally not unique. Nevertheless, it makes it possible to predict empirical regularities for the items and, therefore, tests for equivalency. If the tests fail, however, item non-equivalency is just one possible explanation. Design-equivalency is, on the other hand, a definitional issue, not an empirical one. The enmpirical issue is the design’s usefulness for a particular purpose, usually for answering the research question.
In the European Union’s (EU) gas transmission system, transporting gas requires the booking of transmission capacities. For this purpose, long-term and short-term capacity products are offered. Short-term capacities are priced by multiplying long-term capacity tariffs with factors called multipliers, making them comparably more expensive. As such, the level of multipliers directly affects how capacity is booked and may significantly impact infrastructure utilisation and welfare—an issue that has not received attention in the literature so far. Using a theoreticalapproach, we show that multipliers equal to 1 minimise costs and maximise welfare. In contrast, higher multipliers are associated with decreasing welfare. Yet, policymakers may favour higher multipliers, as we find that multipliers greater than 1 but sufficiently low can maximise consumer surplus by leading to reduced hub prices and lower regional price spreads on average. These findings are expected to hold for the large majority of the EU countries. Nevertheless, we also identify situations in which capacity demand can become inelastic depending on the proportion of multipliers with respect to the relative cost of transmission versus storage. In such cases, varying multipliers are found to have no effect on infrastructure utilisation, prices and welfare.
The economic reality challenged the mainstream neoclassical approach leaving the opportunity for the Austrian School, Post Keynesianism or Institutionalists to bring in front theories that seem to better explain the economic crisis and thus, leaving space for more efficient economic policies to result. In this context, the main assumptions of the mainstream theoreticalapproach are challenged and reevaluated; behavioral economics is one of the main challengers. Without developing in an integrated school of thought yet, behavioral economics brings new elements within the framework of economic thinking. How are the main theoretical approaches integrating these new elements and whether this process is going to narrow the theory or enrich it to be more comprehensive are questions to which this paper tries to answer, or, at least, to leave room for an answer.
Despite numerous biochemical, spectroscopical, and structural studies within the past two decades, the mechanistic details of the type-II NADH:quinone oxidoreductase cat- alytic reaction have remained elusive and were subject of controversial discussions as summarized in the preceding chapter. By using an integrated spectroelectrochemical and theoreticalapproach, this work not only reveals new insights into the reaction pathway for E. coli NDHII, but also on the intermediary structures of the substrates, information that is unavailable from steady-state kinetic studies which are mainly used to investigate these mechanistic details. Besides evidence for involvement of a ternary complex in the mechanism of E. coli NDHII, the present work provides suggestions on the protonation state of the quinone during or after the reduction process; DUQ receives one proton from its immediate environment upon reduction. Proton transfer from and to the FAD cofactor accompanies electron transfer and is an essential part of the enzymatic reaction mechanism that is not well understood for NDHIIs. Upon reduction of the quinone substrate, the fully reduced FADH 2 cofactor needs to release
Two case studies: Constitutional confl icts in Bulgaria and Romania since 1991 In order to generate more concrete hypotheses on the question of when, in constitutional orders, and under what circumstances constitutional conﬂ icts are to be expected, this article presents two exploratory case studies. Although these studies focus on post-socialist transitions in Central and Eastern Europe, the hypotheses obtained may be valid for post-autocratic transitions, in general. The two case studies contain the analyses of all the signiﬁ cant constitutional conﬂ icts between politics and law that have occurred in Bulgaria and Romania since 1991. These two countries have been selected because they were among the ﬁ rst post-socialist countries to introduce entirely new constitutions after 1989 and afterwards, to a certain extent, successfully implement democracy and the rule of law. The result of these case studies is twofold: First, the abovementioned hypotheses are able to explain all conﬂ icts analysed in the two countries, because one of the two hypothetical requirements was present in every conﬂ ict. In this sense, the systems-theoreticalapproach has already proved useful. Second, the analysis of the manifest constitutional conﬂ icts allowed the two general hypotheses to be expanded into eight detailed hypotheses on the occurrence of constitutional conﬂ icts. Naturally, the case studies can only be discussed in general terms; therefore, this article will mainly focus on highlighting the kinds of conﬂ ict which occurred in these two countries (for more details, see Hein 2011).
Though all these recommendations are of extreme importance, they are not sufficient. Governments of poor countries also have to change their way of doing things. And the development strategic approach is very important here, because since it is not tied to any self-interest of donors, it can impose conditions to be respected by recipient countries and is able to sanction governments which are not open to reforms. In so doing, donors should make sure that the conditions they impose remain realistic – in other words, based on the realities in the recipient countries concerned. Donors should know that because of social and cultural differences, policies that have been successfully applied in region or country A must not automatically be applicable in region or country B. If the governments of poor countries still happened to refuse to respect this realistic conditionality, then donors could target aid more on the political forces in recipient countries, which not only support liberalization but also are highly critical of its success. Political parties, the legislature, the judiciary, the press, and civil associations could be supported, 19 depending on how serious they are. Government officials in poor countries
This approach is based on the question, when two molecules meet in the gas phase will they actually react to a new chemical compound? And which criterions have to be fulfilled that they really do? In that sense this proce- dure is divided into some certain steps. First some selected paths of chemical formation are considered. This is followed by optimization of the configu- rations and conformations of each participating molecular species like the alternative reactants and the product, representing definite points on the corresponding potential energy surface. With the obtained information some selected molecular orbital correlation diagrams are composed and discussed. They present a first criterion for the considered reactions, to be classified as allowed or forbidden. The next important step is the extraordinarily dif- ficult determination of the adequate transition structure according to the transition state of the reaction. Thereafter the computation of the intrinsic reaction coordinate has to be performed, which would give information about the path of formation and the underlying reaction mechanism.
Souza Domingues (2010) outlined the importance of determining the NSD processes offered by firms in a structured way, generating an increase in the success probability of the new developed service.
De Jong and Vermeulen (2003) stated that innovations in services may be divided into two types of processes: (i) NSD processes, which are formally managed in great scale and resemble R&D projects in the manufacturing industry and which are commonly used for radical innovations and (ii) those processes that adopt a less formal approach to develop incremental improvements. For these types of innovations, services sectors tend not to adopt formal systems to manage the NSD process. Despite the broad approaches of NSD, its generator factors and processes and the importance of NSD for service firms, NSD is still a phenomenon to be completely unveiled, especially in ICT firms.
IMPROVING A FIRMS PROFITABILITY – AND THE SUPREME ROLE OF BUSINESS STRATEGY
Why are Japanese companies proceeding in the way outlined in the previous section, one that many might say is decidedly risky, with direct investment into China? Basic theoretical understanding tells us that a company must manufacture a product that is valued by consumers in order to make profit. Thus we say that companies engage in the activity of value creation. Firms can increase their profits basically in two ways. First, by adding value to a product so that consumers are willing to pay more for the product, so called differentiation strategy. Second, by lowering the costs of value creation, the so called low-cost strategy (Porter 1980).
As a first application of the combined “Surrogate Hamiltonian”/OCT approach, a harmonic oscillator immersed in an ohmic bath was considered. The harmonic oscillator immersed in an ohmic bath primarily serves as a benchmark system for the treatment of open quantum systems and was employed to demonstrate and benchmark the combined “Surrogate Hamiltonian”/OCT approach. Three different control objectives were pursued, the reconstruction of a predefined optical field, the maximization of the average occupation value, and finally to suppress dissipation. The results showed that a high degree of controllability can be obtained and almost perfect control was achieved when the control aim was to hinder dissipation. The essential steps in the simulations, when the control aim was to protect a system from dissipation, can be summarized as follows: First, an excited state was created by applying a pump pulse. Then, two copies of the wave packet were made. One copy was allowed to evolve freely without dissipation, this wave packet was then used as a target in the optimization algorithm. The other copy was the wave packet that should be controlled, i.e. optimally it should follow the path of the target wave packet.
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Especially in the last decade, efforts have been made in developing the sustainable building assessment tools, which are usually performed based on fundamentals of the First Law of Thermodynamics. However, this approach does not provide a faithful thermodynamic evaluation of the overall energy conversion processes that occur in buildings, and a more robust approach should be followed. The relevance of Second Law analysis has been here highlighted: in addition to the calculation of energy balances, the concept of exergy is used to evaluate the quality of energy sources, resulting in a higher flexibility of strategies to optimize a building design. Reviews of the progress being made with the constructal law show that diverse phenomena can be considered manifestations of the tendency towards optimization captured by the constructal law. The studies based on First and Second Principle of Thermodynamics results to be affected by the extreme generality of the two laws, which is consequent of the fact that in thermodynamics the ‘‘any system’’ is a black box with no information about design, organization and evolution. In this context, an exploratory analysis on the potentiality of constructal theory, that can be considered a law of thermodynamics, has been finally outlined in order to assess the energy performance in building design.
Several researchers consider the lack of accuracy of the strategic partnership concept, as being a phenomenon that does not have a negative influence. Grevi (2008) claims that it can be an advantage, since a certain degree of flexibility and constructive ambiguity are necessary to such a concept. The lack of a uniform conceptual frame gives space to adjustments, concessions, compromises or common pragmatism and an elementary approach. In order to do so, the strategic feature of the EU partnerships with the emerging states allows the Union to follow its goals and set its rules at international level.
This thesis tried to fill an analytical void in the Austrian pension literature by mimicing the Austrian pension system’s basic design and its key elements in the context of an extensive theoretical model. The most central feature of the system is the structure of individual virtual accounts for all socially insured persons, where the account “tracks” a person’s earned wages over the whole career path and credits a fixed fraction of the annual wage every year to the persons respective notional account. The sum of ones account value then equals the pension claim she or he is entitled to after having reached the staturory retirement age. The system’s main features as well as Austria’s demographic situation were summarized in section 1.