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Bosnia and Herzegovina: prerequisites and hurdles in EU-accession : to what extent is Bosnia capable to fulfill all requirements to join the EU
No full textEiner von den Prioritätszielen der bosnischen Regierung ist die Mitgliedschaft in der Europäischen Union. Das Ziel wurde im Stabilisierungs- und Assoziierungs-prozess festgelegt, in dem die Länder Südosteuropas Unterstützung und Richtlinien von der EU für politische Reform und Entwicklung des Integrationswegs Bosniens in Europäische Union definieren. Der Rechtsrahmen wurde im Stabilisierungs- und Assoziierungsprozess festgelegt und durch die BiH und die EU im Jahr 2006 unterschrieben. Jedes Jahr reicht die Europäische Kommission einen jährlichen Fortschrittsbericht über die Anerkennung und Vollstreckung der Bedingungen die BiH für die Mitgliedschaft in der EU erfüllen muss. Ich werde versuchen darzustellen, welche Voraussetzungen bis jetzt erfüllt sind und welche davon zu erfüllen sind.Svjetlana DukicMasterarbeit Fachhochschule des BFI Wien 2016 Fachbereich: Wirtschaftsrech
Working paper series by the University of Applied Sciences bfi Vienna / Gelebtes Corporate Social Responsibility in der Lehre
No full textCorporate Social Responsibility (CSR) stellt sowohl auf europäischer als auch auf nationaler Ebene ein komplexes Themengebiet dar, welches in vielfältiger Weise zum Ausdruck kommt. Speziell im Kontext dieser Arbeit und des Bachelorstudiengangs Technisches Vertriebsmanagement (BTVM) werden Möglichkeiten betrachtet, CSR in Bezug zur Lehre zu setzen. Dies insbesondere deshalb, weil Vertrieb und, auf einer all-gemeineren Ebene, Marketing die zentralen Aspekte des BTVM darstellen. Anhand des konkreten Praxis-beispiels Teambildung am Studiengang BTVM, wo die Studierenden angehalten sind, ein soziales und nachhaltiges Projekt für eine karitative Organisation durchzuführen, wird gezeigt, wie CSR erfolgreich in die Lehre integriert werden kann.Corporate social responsibility (CSR) represents a complex topic both at European and at national level, which is expressed in manifold ways. Specifically, in the contexts of this paper and the bachelor’s degree programme Technical Sales and Distribution Management (Technisches Vertriebsmanagement - BTVM), options are considered to put CSR in relation to practical teaching. This in particular, since sales and - on a more general level - marketing constitute the central aspects of this study programme. The representative practical example of the course “Team Building” in the bachelor’s degree programme BTVM, where students are encouraged to carry out a social and sustainable project for a charitable organization, shows how CSR can be successfully integrated into teaching
Working paper series by the University of Applied Sciences bfi Vienna / Ökonomische Ansätze zur Erklärung der Attraktivität europäischer Staaten für chinesische Direktinvestitionen
No full textIn den letzten Jahren haben chinesische Unternehmen vermehrt ausländische Direktinvestitionen getätigt, wobei das Ziel des Großteils dieser Investitionen andere asiatische Staaten waren (zirka 62% der ausländischen Direktinvestitionen im Jahr 2013). Im Vergleichszeitraum wurden lediglich 6% der ausländischen Direktinvestitionen in Europa getätigt. Dieser Anteil bedeutet jedoch gleichzeitig eine starke Steigerung im Vergleich zu den Vorperioden und zeigt, dass die europäischen Volkswirtschaften attraktiv für die Investitionen chinesischer Unternehmen sind. Gleichzeitig sind die Investitionen stark auf einzelne europäische Staaten konzentriert. Österreich hat mit zirka 436 Millionen Euro an der Gesamtsumme von fast 46 Milliarden Euro an kumulierten chinesischen Direktinvestitionen einen vergleichsweise geringen Anteil (Haneman / Huotari 2015). Es stellt sich daher die Frage, welche Kriterien für chinesische Auslandsinvestitionen von Relevanz sind. Der vorliegende Beitrag vergleicht Österreich mit anderen Volkswirtschaften in der Europäischen Union. Kriterien für die Attraktivität europäischer Staaten für ausländische Direktinvestitionen werden aus alternativen Ansätzen ökonomischer Theorien abgeleitet und für Österreich angewendet. Zur Einschätzung der spezifischen österreichischen Situation wird eine Auswertung von ExpertInneninterviews vorgenommen.In the last years, Chinese companies have increasingly become important investors beyond the country’s own borders. Most of China’s outward foreign direct investments (OFDI) are conducted in Asia (about 62% of OFDI flows in 2013). While only about 6% of Chinese outward foreign direct investments are directed at Europe (OFDI flows in 2013; EY 2015), strong increases can be observed in recent years. However, Chinese investments are strongly concentrated in a few European countries. With just EUR 436 million out of a total of almost EUR 46 billion in Chinese OFDI to EU member countries (cumulative FDI stocks from China 2000-2014; Haneman / Huotari 2015), Austria is among the European countries that have received only little OFDI from China. This holds although Austria has managed to attract relatively high levels of FDI in general. This raises the question, which location factors are of importance for Chinese companies when taking their location decision in Europe. To analyze the research question, the paper is focusing on Austria as well as other economies that are member states of the European Union. Criteria for attractiveness for FDI are deducted from an alternative approach of economic theories and are applied for Austria. Results from expert interviews are applied to the specific situation in Austria.Magistratsabteilung 23, Wirtschaft, Arbeit und Statistik Call 15 Headquarter Standort Wie
On the theory of stochastic clocks for option pricing
No full textDiese Magisterarbeit habe ich während des Winter- und Sommersemesters 2016 erstellt. Sie ist Teil des double degree Programms in Quantitative Asset and Risk Management der Fachhochschule des BFI inWien und in Quantitative Finance der Universität Bologna.
Die Arbeit befasst sich mit der Bewertung von Derivaten. Weiters betrachten wir robuste Modelle für die Entwicklung von Preisen, die die beobachteten, tatsächlichen Preise möglichst genau nachbilden.
Wir betrachten Lévy Prozessen und die Methode der stochastic clocks, um schließlich zu den sogenannten time-changed Lévy Prozessen zu kommen.
Nach der mathematisch-theoretischen Präsentation dieses Instrumentariums, stellen wir die Algorithmen bereit, um die folgenden beiden berühmten time-changed Lévy Prozesse zu simulieren: den invers normalverteilten Gauss Prozess, und den Varianz-Gamma Prozess.
Wir präsentieren auch MATLAB code für ihre Umsetzung in Monte Carlo pricing.This work is a Master’s thesis carried out during the winter and summer semester of 2016 as part of the double degree program in Quantitative Asset and Risk Management at the University of Applied Sciences bfi of Wien and in Quantitative Finance at the University of Bologna. In this work we approach the derivatives pricing problem consisting in how to build a robust financial model for the underlying(s) asset price dynamics which is able to closely reproduce the empirical regularities observed in actual financial prices.
We deal with this issue by resorting to deeply mathematically-grounded objects called Lévy processes and stochastic clocks hence ending up with the use of time-changed Lévy processes. After the mathematical and theoretical presentations of these instruments we provide the algorithms for the simulation of two famous time-changed Lévy processes: the Normal Inverse Gaussian and the Variance-Gamma processes.
We also build a MATLAB code for their implementation in Monte Carlo pricing.Diplomarbeit Wien, Fachhochschule des BFI Wien 201
Steuerung des risikoorientierten Revisionsplanes österreichischer Kreditinstitute
No full textDue to the financial crisis starting in 2008, credit institutions and banks suffered a sustainable loss of trust and reputation. Several new regulations were set up by government, local national bank authorities or the European National Bank to gain more power over capital markets and its operating credit institutions and banks. Those regulations also have an impact on every organizational unit of a bank, like the Internal Audit Department. Internal Audit’s audit activities, which aim to check compliance of the bank with law and other regulations, are based on risk orientated planning and are summarized in an audit plan. The aim of this Master Thesis is to check, how the risk orientated audit plan of an Austrian credit institution can be steered and monitored by the use of project portfolio management. In this regard, a model of a risk oriented audit plan was designed in cooperation with an Austrian auditor. With the help of four scenarios created by the author - one after each quarter of a year - the use of project portfolio management for steering and monitoring the audit plan was evaluated. The outcome of the evaluation declares with regard to some remarkable similarities between a project and an audit, that the risk oriented audit plan of an Austrian credit institution can be steered and monitored by using project portfolio management. In addition, practices of project portfolio monitoring and project portfolio reporting can also be applied. Limitations with regard to the major tasks of project portfolio management only concern the selection and prioritization processes as well as the strategy alignment process due to the specific approach of risk oriented planning.Gerald PusamMasterarbeit Fachhochschule des BFI Wien 201
Marketingkommunikation für Kleinstunternehmen
No full textAdvertising is a common thing in nowadays business world. Many big companies rely on heavy advertising campaigns to be successful, in short terms and long terms. Marketing is the key for influencing customers on a daily basis. Especially in times, where the globalization forced many businesses to adapt or to leave the market. Furthermore, with the rising success of the internet and the accessability for every-one to use the internet – it makes the times harder for companies to be competitive. Amazon, for example, is the biggest retailer in Europe and the USA. Which makes it easier for customers to have a fast access to a various range of products and even better – a direct compersion between other retailers. Another thing to mention is that customers are getting more into “smart shopping”. This means they are aware of the ongoing price competition and the pressure lasting on retailers. With this power, they are able to have a better strategy in terms of negotiating. In the case of small companies, which are an important factor for the European economy, in terms of revenue and labour intake. These new and different times make it hard to be sus-tainable and competitive. Without a consequent marketing strategy, including ad-vertising, it is hard to sustain. Looking on the financial sheets, small companies don’t have the financial power like corporations. Furthermore, they don’t have the financial resources to employ people only for marketing purporse or to pay a marketing agency. But rather they have to fight for their salary and sustain in an oversaturated market. The aim of this paper is to distinguish the possibilities for small companies to strongen their competitive advantage with Low Budget Methods. Furthermore, to realize that there are more ways of advertising a brand, product or service through media. In conclusion, the thesis shows how smaller companies can use alternative advertising channels to stay sustainable and benefit from its low cost factors.Nikola StefanovicMasterarbeit Fachhochschule des BFI Wien 2016 Fachbereich: Betriebswirtschaf
Analyse der EU-Ukraine Beziehung aus der Perspektive des Assoziierungsabkommens
No full textThe European Neighbourhood Policy (ENP) provides the establishment of a new type of bilateral agreements between the EU and the ENP countries in order to re-place the existing agreements between the European Union and its neighbours in the Eastern Europe and in the Mediterranean region. In January 2007 the Council adopted negotiating directives for a new enhanced agreement between the Euro-pean Union and Ukraine. The decision follows a previous recommendation of the Commission that a new agreement should be binding and is to be permanent. The new agreement with Ukraine has a significant importance. This is one of the first agreements of the new generation of the Neighbourhood Policy. The purpose of this thesis is to investigate the Association Agreement (AA) between the EU and Ukraine in the view of the possible contours and content of a new con-tractual framework. The AA is the first agreement based on a political association between the EU and a country of the Eastern Partnership. There is no precedent in this scope and depth. The main content focuses on the implementation and promotion of the reforms, eco-nomic recovery and growth, sectoral cooperation in the following areas: energy, transport, environmental protection, industrial cooperation, social development, hu-man rights, consumer protection, education, cultural cooperation. Of great importance in the AA are the values and principles of European integration, as for example: democracy, the rule of law, human rights and fundamental free-doms, good governance, market economy and sustainable development. In addi-tion, the AA provides for the enhanced cooperation in matters of security, foreigners and energy policy. The investigation to the first research question, whether the AA is an established legal instrument of the EU enlargement strategy, has showed that an AA between the EU and third countries is one of the most popular instruments of EU external policy and the expansion strategy. The new generation of the EU AA with the east-ern neighbours will replace the expired partnership agreements.The investigations to the second research question, what is the impact of the AA and of the integration course into the EU for Ukraine, led to the following findings. Participation in the DCFTA with the EU extends the choice of consumers on the domestic market, fosters modernisation and innovation.Ukraine can have the benefits of liberalisation in the long-term scope in the following areas: introduction of the European norms, standards of technical regulation and consumer safety. Important positive effects include improvements in the energy ef-ficiency, energy saving and environmental friendliness of the economic develop-ment.On the other hand, the non-competitive companies will have to be closed because of the provisions of the DCFTA, furthermore a reduction of the budget revenues with a simultaneous growth of public spending because of the restructuring of the econ-omy are expected.Possible introduction of the restrictive measures in respect of Ukraine by the coun-tries of the Customs Union can be a further negative effect of the DCFTA.In relation to the third research question, to what extent the requirements of the AA can be implemented by Ukraine, the analysis shows that the necessary reforms in many areas of economic, political and social life are very difficult to implement and involve the enormous costs. Moreover than that, there is no clear strategy for the implementation of these requirements. The success of the AA is therefore question-able. In addition, Ukraine should find a balance between the rapprochement with the EU and the reconstruction of good relations with Russia to achieve the optimal results. This is the only way for Ukraine to be successful. The problem of optimization of the cooperation between the EU, Ukraine and Russia can be dwelled as a topic for further research.Olena BerdnikMasterarbeit Fachhochschule des BFI Wien 2016 Fachbereich: Wirtschaftsrech
Wirtschaftliche Integration als Friedensgarant? Eine kritische Analyse der Europäischen Union aus der Warte der Interdependenztheorie
No full textMarin SkeloMasterarbeit Fachhochschule des BFI Wien 2016 Fachbereich: Politi
Operationalisierbarkeit des Cash to Cash Cycle-Konzeptes für den österreichischen produzierenden Mittelstand
No full textThis thesis aims to give an insight into the spread of the cash to cash cycle concept in Austrian supply chains. Furthermore the authors try to establish criteria for and against the application of the cash to cash cycle concept. The criteria are developed through literary research, a questionnaire and the analysis of 5 company databases. The companies researched are based in Austria, medium sized and production oriented. The authors question employees and managerial staff. According to answers by the persons questioned, the cash to cash concept is not known in a supply chain sense. Following critique of the concept, the analysis of the databases is used to calculate a process oriented calculation of the cash to cash metric. This is done to reveal if the concept is representative of companies' business processes. The findings show that certain criteria must be met for a correct representation of the underlying processes.Jürgen Donaubauer, Michael HoltMasterarbeit Fachhochschule des BFI Wien 2016 Fachbereich: Supply Chain Managemen
Businessmodelle für Transportdienstleister im Kombinierten Verkehr Straße-Schiene
No full textTraffic is one important part of our daily life. Given this fact, the increasing scale of environmental protection, technological progress, an efficient interaction between rail and road, the increase in traffic, social issues in traffic and European demands and standards are forming growing challenges to the transport policy. From this viewpoint, it is necessary to take the influence measures to generate approaches for the transport policy and traffic and transport operators. The following actions may be enumerated: Modal shift, traffic avoidance, traffic optimization and traffic reduction. These fields of activity can be efficiently implemented by the combined transport and thus helps to achieve goals like reducing pollution, increasing the loadingcapacities, securing load capacity, reliable transit times, circumventing driving bans, relieving the road and a few more. A key player in this cooperative competition is the transport operator which is the interface between all interested parties. With a well thought and efficient business model, the combined transport operators can satisfy the demand and fulfil the requirements of the market to earn high profits and take part in one of the fastest growing market segments. So took the combined transport in Austria alone in only seven years between 2002 and 2009 around 17 million tones net to 23 million tones – this is an increase of about 4% per year on average. So this study should show the actors in combined transport, under the expectations that the focus stays on the combined transport, recommendations to their already existing business model, or helping to create new business models.Dimitri LesnojMasterarbeit Fachhochschule des BFI Wien 2016 Fachbereich: Verkeh