1,720,955 research outputs found
Is there an Education Bubble in the Western Balkans?
No full textAbstractBubbles arise in cases where price exceeds the asset's intrinsic value, yet they are notoriously hard to detect. In order for them to develop, a displacement in expectations must occur which will impact the rational perception of the asset's value. Human capital, although not as tangible as other forms of wealth, represents a distinct asset class which increases one's earning potential through education. As the price of an asset is justified by the expectations of future cash flows, the current value of education can be calculated via discounting the value of the future, education-enhanced, earning potential. The aim of this paper is to analyze the newly emerging patterns in the changing educational landscape of the region known as the Western Balkans and identify the possible formation, if not existence, of a bubble. The authors propose an alternative methodology of detecting these market anomalies and utilize empirical evidence to corroborate the finding that the market price of the investment in human capital in Western Balkan countries has started diverging from its fundamental value. Although the focus of this paper is on uncovering a tendency in a highly specific asset class within a narrow geographical area, the preliminary conclusions and related discussions can be extended to detecting such bubbles in other countries and regions that could possibly warn against the eruption of the next big financial crisis
Developing an Aggregate Index for Measuring Financial Stability in the Balkans
No full textAbstractFinancial stability continues to grow in importance and remains a hotly debated topic since the turn of the new century brought a string of financial episodes that culminated with the Global financial crisis of 2007. While the Balkans have traditionally been considered to lie on the periphery of financial phenomena, this wide assessment of the region has changed with the large-scale turmoil caused by the Greek Sovereign Debt crisis. Therefore, to curb nascent instability, financial authorities should remain alert and devise a mechanism able to effectively detect stress in their respective financial systems. So far – in the quest to build a comprehensive and universal Early Warning System – a number of broad measures and indicators have been proposed; however, none of them have been specifically tailored to reflect the distinct character of the Balkan countries with their diverse, yet analogous political, social and economic idiosyncrasies. This paper attempts to tackle this issue from a financial policy standpoint by contributing to the current literature on the subject in three separate ways. First, it builds upon the most recent findings in this area to develop an aggregate financial stability index that measures financial stability levels in nine countries geographically belonging to the Balkan region, entirely or at least in part. Most importantly, this index juxtaposes some well known IMF- backed Financial Soundness and macroprudential indicators with World Bank development indicators and CESifo measures of world economic climate. Second, the authors perform a Chanut-Laroque analysis of contribution to volatility levels in the aggregate stability index in order to explore which sub-indexes can explain the improvement or deterioration of the index value for the 1995-2011 period. Third, this paper compares and contrasts the evolution of financial stability of two sub-indices reflecting the diverging nature of the two groups of countries (Western Balkans vs. EU members) regarding their standing relative to European Union status
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Get PDFWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
koamabayili/VECTRON-author-checklist: VECTRON author checklist
No full textWe have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used
The Day-of-the-Week Effect: Evidence from Selected Balkan Markets
Get PDFThe main aim of this paper is to investigate the existence of the “day of the week” financial effect in select Balkans stock markets indices. Many findings of market anomalies have corroborated the presence of the “day of the week” effect in developed markets; however, so far scarce research has been presented on this subject for the Balkan capital markets. Hence, an additional objective of this paper is to examine the impact of this market anomaly on the market efficiency hypothesis. The methodology used in this paper employs a regression including dummy variables which will help determine the existence of the effect. The authors use daily mean returns of selected stock indices found to be lower at the beginning of the week but not necessarily on Monday. The results are interpreted and expounded taking into consideration the history and market development. The paper provides academia and investors as well as policy makers new perspective of the market anomalies linked to the financial behavior of the capital markets in select Balkan countries
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