20 research outputs found
LA DISCIPLINA DEGLI ABUSI DI MERCATO: PROSPETTIVE NAZIONALI ED EUROPEE
No full textThe present work relates to market abuse, particularly insider trading and market manipulation. The
thesis, in particular, is divided into 5 chapters. In the first chapter we examine the abusive practices
and related economic issues.
The second chapter deals with the European profile of market abuse by
the discussion of the Community acts that have influenced this matter.
The chapter three number
deals with the national legislation for the implementation of European regulations, and also focuses
on the powers of CONSOB and the disclosure obligations of companies.
Chapter four concerns in
more detail the issues relating insider trading and market manipulation.
The final chapter regards,
finally, the proposed changes in the regulations analyzed and a proposal made by the author about
ways to punish market abuse
Faktorët kryesorë, që ndikojnë në kërkesën për kredi hipotekore
No full textPër shumë prej nesh, blerja e një shtëpie është një nga vendimet më të rëndësishme si dhe ndonjëherë transaksioni më i madh financiar që mund të bëhet në jetë. Të qartësosh pyetjet përpara se të zgjedhësh një kredi do të thotë të bësh krahasimin mes marrjes së një kredie që mund ta përballosh dhe humbjen e të drejtës mbi pronën. Zhvillimi dhe zgjerimi i tregut bankar gjatë viteve të fundit, me krijimin e produkteve dhe programeve të reja, e ka bërë të rëndësishëm kuptimin e kushteve të ofruara për të bërë një zgjedhje racionale. Nëse mendojmë të marrim një kredi hipotekore, duhet të konsiderojmë të gjitha mundësitë. Eshtë e rëndësishme që të edukohemi pasi “dija” është “aftësi”. Duke siguruar informacionin e nevojshëm mbi kredinë hipotekore, jemi të aftë për të zgjedhur kushtet më optimale dhe shmangur shpenzimet e tepërta, na jep një bazë teorike dhe praktike njëkohësisht, që do t’na ndihmojë të mësojmë qëllimet e kredive hipotekore avantazhet dhe disavantazhet e marrjes së një kredie të tillë. Në këtë punim gjithashtu është trajtuar edhe ecuria e kredive hipotekore në shqipëri dhe krahasimi me vendet e tjera të europës. Poashtu edhe ndikimi që kanë këto kredi në çmimin e banesave në treg dhe tregtimi i tyre nga bankat në trajtën e obligacioneve që mbështetën në huatë hipotekore
Capital structure determinants in transitional economies
No full textMost of the empirical studies about capital structure tend to focus either on overall developed markets or on emerging countries. This paper aims to analyze the determinants of the capital structure of the companies in the Western Balkans (WBs) using a panel of 30 non-financial firms listed in Zagreb Stock Exchange, Belgrade Stock Exchange, and Macedonian Stock Exchange over the period of 2012–2017. The leverage ratio is modeled as a function of firm-specific characteristics. The study shows that firms in the WBs tend to rely more on short-term debt rather than long-term debt. There is a significant negative impact of liquidity, profitability and tax on both leverage level and short-term debt ratio. The long-term debt ratio is significantly positively affected by the growth opportunities of these companies and by its past level. theory. The results obtained from this empirical research indicate that companies in the WBs follow the pecking order. These findings appear to be similar to the results of previous studies of this nature done about emerging and transitional economies
THE EFFECT OF TAX RATE AND CHANGES ON CAPITAL STRUCTURE AND FINANCIAL PERFORMANCE IN INDUSTRIAL FIRMS: BRICS – TÜRKİYE ANALYSIS
No full textBu çalışmanın amacı, BRICS (Brezilya, Rusya, Hindistan, Çin, Güney Afrika) ülkeleri ve Türkiye’de borsada işlem gören finansal olmayan şirketlerin 2009-2019 dönemindeki performanslarını sermaye yapısı ve vergiler bakış açısıyla açıklamaktır. Analizin spesifik hedefi özetle borçla finansmanın etkilerini değerlendirmektir. Bu araştırmada her yıl ayrı ayrı yatay kesit veri regresyon modelleri kullanarak sayısal analizler yapılmıştır. Araştırmanın bulguları, kurumlar vergisi oranı ile sermaye yapısı ve finansal performans göstergeleri arasındaki ilişkinin istatistiksel olarak pozitif olduğunu ancak vergilendirmenin etkisinin her yıl değiştiğini göstermektedir. Bunun yanı sıra efektif vergi oranı, borç dışı vergi kalkanı ve gelir vergisi oranları tüm dönemlerde istatistiksel olarak anlamlı olmamasına rağmen katsayıları birbirine yakın değerlere sahip olduğunu göstermektedir. Elde edilen bulgulara göre, efektif vergi oranının sermaye yapısına pozitif etkisi olduğu belirlenmiştir. Bununla birlikte, borç dışı vergi kalkanı ve gelir vergisi oranının kısa ve uzun vadede sermaye yapısına karışık yönde etkisi olduğu ortaya koymaktadır. Araştırmada en çok öne çıkan husus ise, literatürdeki karşılığı ile desteklenen sermaye yapısıyla finansal performans arasındaki negatif ilişkidir. BRICS ülkeleri ile Türkiye arasındaki ekonomik göstergelerin karmaşıklığı ve etkileşimi üzerine yapılmış bu çalışmada, gelişmekte olan ekonomilerle ilgilenen akademisyenler ve iş insanları için oldukça değerli bulgu ve değerlendirmeler paylaşılmıştır.The aim of this study is to explain the financial performance of nonfinancial listed companies in BRICS (Brazil, Russia, India, China, South Africa) countries and Türkiye through the lens of capital structure and taxes over a period from 2009 to 2019. The specific analysis object is the evaluation of financial leverage as a proportion of debt financing based on the amount of total assets. The results presented herein indicate that the corporate tax rate is positively statistically significant regarding capital structure and financial performance indicators, however, the effect of taxation varies each year. Effective tax rate, non-debt tax shield, and personal tax rate are not statistically significant across all periods, but they give coefficients with close values. There are also mixed results for short – and long-term financial leverage regarding non-debt tax shield and personal tax rate. What stands out the most in this paper is the negative relationship between capital structure and financial performance, which is supported by the pecking order theory. The conclusions presented herein regarding the complexities and interaction of economic indicators among BRICS countries and Türkiye constitute essential information for any academician and businessman concerned with emerging economies
EXAMINING THE LINK BETWEEN BANKING SECTOR DEVELOPMENT AND ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS OF ALBANIA
Get PDFThis research aims to examine the relationship between banking sector development and economic growth in Albania, focusing on specific indicators such as bank capital to asset ratio, non-performing loans, credit to the private sector, deposit money bank assets to GDP, inflation rate, and GDP growth.
The study is grounded in the finance-growth nexus theory, which posits that financial development fosters economic growth through improved capital accumulation and resource allocation. The framework considers how banking sector health influences macroeconomic stability and growth.
The research employs a quantitative approach using secondary data from credible sources such as the World Bank. The econometric model assesses the impact of banking sector indicators on economic growth in Albania over the period 2012-2021.
Findings confirm that banking sector development significantly impacts economic growth in Albania. High levels of non-performing loans hinder growth, while enhanced credit to the private sector and robust bank capital ratios promote economic development. Policymakers should focus on reducing non-performing loans and strengthening the banking sector’s capital base to foster sustainable economic growth. Effective financial regulations and policies are crucial to ensuring a stable and efficient banking sector that can support long-term economic prosperity in Albania
The effectiveness of Ayurvedic oil based nasal instillation (Nasya) medicines in the treatment of facial paralysis (Ardita)
Get PDFBackground: Ardita (facial paralysis) is a medical condition that disfigures or distorts the facial appearance of the sufferer, causing facial asymmetry and malfunction. Ardita patients may benefit from considering alternative treatments such as Ayurveda, including Taila Nasya (nasal instillation of medicated oil). Objectives: To synthesize the best available evidence regarding the effectiveness of different Nasya oils in the treatment of Ardita. Secondly, to draw evidence based recommendations from the synthesis for practitioners and Ardita sufferers. Inclusion criteria: Types of participants Studies conducted with adult sufferers (18-70 years of age) of Ardita (chronic or acute) in any setting were considered. Studies including participants who were pregnant or suffered allergic rhinitis, fever, intracranial tumour/haemorrhage and bilateral facial palsy were excluded. Intervention(s)/comparator(s) Taila Nasya (at all dosages and frequencies), either as a standalone treatment or in combination with other Ayurvedic treatments, was the intervention considered. Comparators considered were different Taila Nasya stand-alone treatments, Taila Nasya in combination with other Ayurvedic interventions and Ayurvedic interventions that did not include Taila Nasya. Outcomes and measures The outcomes of interest were changes in Ardita symptoms including facial distortion, speech disorders and facial pain. All measures of these symptoms were considered. Types of studies All quantitative study designs (experimental, quasi-experimental and observational) were considered. Search strategy: A three-step search strategy was initially used to identify published and unpublished studies. Studies published in the English language were considered, irrespective of publication date. Following an initial limited search of MEDLINE and CINAHL, the text words contained in the title and abstract, and of the index terms used to describe each articles were analysed. From the identified keywords and index terms, searches were undertaken across all relevant databases. Thirdly, reference lists of identified thesis and articles were searched for additional studies. Universities and website operators related to Ayurvedic research in India were contacted, including the National Institute of Ayurveda for relevant studies. Besides this, the University of Adelaide librarian was contacted to retrieve those studies identified in the reference lists of thesis and articles. Due to the dearth of studies identified, a fourth step was added to the search strategy commonly used for systematic reviews based on the Joanna Briggs Institute systematic review methodology. This involved contacting Indian universities and relevant institutions to locate and obtain studies that match the inclusion criteria of this review. Methodological quality: Studies matching the inclusion criteria were independently assessed by the author and a secondary reviewer using the relevant standardised critical appraisal instrument from the Joanna Briggs Institute Meta-Analysis of Statistics Assessment and Review Instrument (MAStARI). Data extraction and synthesis: Data was extracted by the primary reviewer using a standardised data extraction tool from the Joanna Briggs Institute. The intention was to conduct a meta-analysis. However, this was not possible because only two studies were identified, and these examined different interventions and comparators. A narrative synthesis was therefore conducted, aided by tables. Results: Only two pseudo-randomised studies, with a small number of participants and which met the inclusion criteria, were accessible and included in the review. One study with 20 participants, divided equally into two groups, compared the effectiveness of two alternative nasal instillations, namely Anu Taila and Mashadi Taila for alleviating four Ardita symptoms. Although the researchers claimed that Anu Taila Nasya is better than Mashadi taila Nasya for controlling facial distortion, they stated that Mashadi taila Nasya offered statistically highly significant outcome values. Furthermore, they made an unsupported statement that Mashadi taila Nasya if administered with Shamana medicines will give better results in short duration. The second study, which included 30 participants split evenly between the intervention and comparator groups, compared the effectiveness of Nasya with Shirobasti for alleviating seven Ardita symptoms. Both studies used observational measurements and graded Ardita symptoms as ‘mild’, ‘moderate’ or ‘marked’ at baseline and after one month. In the study that included 30 participants, the 15 patients who received the Nasya intervention experienced relief from the symptoms of facial pain, speech disorder and earache within the range of 78.2% to 90.9%, graded as ‘marked’. The review found scant and low level of evidence favouring the Taila Nasya intervention compared to Shirobasti. Conclusions: This systematic review presents extremely limited evidence, from only two small experimental studies, that administration of Nasya oil alone may provide some relief from Ardita symptoms of facial distortion, speech disorder, inability to shut eyelids and dribbling of saliva in adult patients. Of the two studies, one had very weak methodology and did not offer any robust results. No strong conclusions may be drawn from the evidence included in this review due to the limited number of studies, limited number of participants and poor quality of studies. Inferences for practice Practitioners should advise Ardita patients that there is extremely limited evidence that suggests that Mahamasha Taila Nasya alone may provide some relief from Ardita symptoms of facial distortion, speech disorder, inability to shut eyelids/upward eye rolling, and dribbling of saliva in adult patients.
Given the absence of a strong evidence base, practitioners should be guided by clinical wisdom and patient preference. Inferences for research Well controlled clinical trials comparing the effects of standalone Nasya therapy and Nasya combined with other Ayurvedic treatments and/or conventional medicine on Ardita symptoms should be conducted. High quality clinical trials examining the relative effectiveness of different Nasya oils for treating Ardita are also required.Thesis (M.Clin.Sc.) -- University of Adelaide, Joanna Briggs Institute, 2016
World Bank Research Indicators and Comparative Foreign Trade Statistics of Central and Eastern European Countries and the BRICS in a Comparative Perspective
No full textThese are research indicators of comparative empirical investigation of Central and Eastern European Countries (CEECs) and the BRICS that were compiled from the criteria and factors of the World Bank. This dataset consists of data for CEECs and the BRICS for the period of 2000 to 2016. The World Bank Research Indicators consist of (1) GNI, Atlas Method (Current US); (4) GNI per capita, PPP (Current International ); (8) GDP Growth (Annual %); (9) Inflation, GDP Deflator (Annual %); (10) Agriculture, Value Added (% of GDP); (11) Industry, Value Added (% of GDP); (12) Service, etc., Value Added (% of GDP); (13) Exports of Goods and Services (% of GDP); (14) Imports of Goods and Services (% of GDP); (15) Gross Capital Formation (% of GDP); (16) Revenue, excluding Grants (% of GDP); (17) Time Required to Start a Business (Days); (18) Domestic Credit Provided by Financial Sector (% of GDP); (19) Tax Revenue (% of GDP); (20) High-Technology Exports (% of Manufactured Exports); (21) Merchandise Trade (% of GDP); (22) Net Barter Terms of Trade Index (2000 = 100); (23) External Debt Stock, Total (DOD, Current US); (26) Foreign Direct Investment, Net Flows (BoP, Current US). Furthermore, statistical data of CEECs and the BRICS were retrieved from Atlas 2.1 – Growth Lab at the Center for International Development at Harvard University; UN Comtrade Maps; WITS – UNSD Comtrade and ITC
World Bank Research Indicators and Comparative Foreign Trade Statistics of Central and Eastern European Countries and the BRICS in a Comparative Perspective
No full textThese are research indicators of comparative empirical investigation of Central and Eastern European Countries (CEECs) and the BRICS that were compiled from the criteria and factors of the World Bank. This dataset consists of data for CEECs and the BRICS for the period of 2000 to 2016. The World Bank Research Indicators consist of (1) GNI, Atlas Method (Current US); (4) GNI per capita, PPP (Current International ); (8) GDP Growth (Annual %); (9) Inflation, GDP Deflator (Annual %); (10) Agriculture, Value Added (% of GDP); (11) Industry, Value Added (% of GDP); (12) Service, etc., Value Added (% of GDP); (13) Exports of Goods and Services (% of GDP); (14) Imports of Goods and Services (% of GDP); (15) Gross Capital Formation (% of GDP); (16) Revenue, excluding Grants (% of GDP); (17) Time Required to Start a Business (Days); (18) Domestic Credit Provided by Financial Sector (% of GDP); (19) Tax Revenue (% of GDP); (20) High-Technology Exports (% of Manufactured Exports); (21) Merchandise Trade (% of GDP); (22) Net Barter Terms of Trade Index (2000 = 100); (23) External Debt Stock, Total (DOD, Current US); (26) Foreign Direct Investment, Net Flows (BoP, Current US). Furthermore, statistical data of CEECs and the BRICS were retrieved from Atlas 2.1 – Growth Lab at the Center for International Development at Harvard University; UN Comtrade Maps; WITS – UNSD Comtrade and ITC
PENENTUAN RUTE DISTRIBUSI PRODUK FARMASI MENGGUNAKAN NEAREST NEIGHBOR, NEAREST INSERT, FARTHEST INSERT, DAN INTEGER LINEAR PROGRAMMING
No full textJika membutuhkan abstrak atau isi jurnal silahkan menghubungi author melalui e-mail [email protected], [email protected], [email protected]
Rancang Bangun Mesin Pencampur Bijih Plastik Berkapasitas 20 Gram: design and construction
Get PDFIn the process of creating various types of plastic, several tools are required to support the development process. In this regard, Politeknik Industri ATMI has attempted to develop a supporting tool for mixing plastic ore. The objective of this research is to design, build, and test an efficient and economical mixing machine for processing plastic ore on a small scale. To create this tool, the author used observation and design realization methods. After a lengthy process, a plastic ore mixing machine with a capacity of 20 grams was produced. This paper discusses the plastic ore mixing machine designed for use in testing laboratories. This mixing machine is a device used to process plastic ore into new types. In this study, the author developed a plastic ore mixing machine with a volume capacity of 20 grams. This machine is used to combine two or more types of plastic ore, aiming to produce high-quality plastic. To achieve this, the machine was developed using two mixing shafts and a melting system with heating elements. Additionally, the mixing process chamber was designed with two compartments, corresponding to the positions of the mixing shafts. This design is expected to maximize the mixing process of each type of plastic, resulting in a homogeneous plastic product.Dalam proses penciptaan jenis-jenis plastik diperlukan beberapa alat untuk menunjang proses pengembangan. Dalam hal ini Politeknik Industri ATMI mencoba untuk mengembangkan alat penunjang pencampuran bijih plastik. Tujuan dari penelitian ini adalah untuk merancang, membangun, dan menguji mesin pen campur yang efisien dan ekonomis untuk mengolah bijih plastik dalam skala kecil. Adapun dalam membuat alat ini penulis menggunakan metode observasi dan realisasi perancangan. Setelah proses yang panjang maka dihasilkan mesin pen campur bijih plastik dengan kapasitas 20 gram. Melalui tulisan ini, penulis membahas mengenai mesin pen campur bijih plastik untuk digunakan dalam lab pengujian. Mesin pen campur ini merupakan alat yang digunakan untuk memproses bijih plastik menjadi jenis yang baru. Dalam studi ini, penulis mengembangkan mesin pen campur bijih plastik dengan kapasitas volume 20 gram. Mesin ini digunakan untuk mengkombinasikan 2 atau lebih bijih plastik yang diharapkan dapat menghasilkan tipe plastik berkualitas tinggi. Untuk mencapai hal itu maka pengembangan mesin dilakukan dengan menggunakan 2 buah poros pengaduk serta sistem peleburan dengan elemen pemanas. Selain hal tersebut ruang proses pengadukan dibuat menjadi 2 ruang mengikuti posisi poros pengaduk yang digunakan. Melalui hal ini diharapkan dapat memaksimalkan proses pencampuran masing-masing jenis plastik menjadi plastik yang homogen
