{"title":"Comparative analysis of mergers and acquisitions in the new member states of European Union","authors":"Dušan Baran , Darius Saikevičius","doi":"10.1016/j.intele.2015.10.002","DOIUrl":"10.1016/j.intele.2015.10.002","url":null,"abstract":"<div><p>Mergers and acquisitions in the new member states of European Union (EU-10) are investigated in the study. The author concentrates on mergers and acquisitions value creation issue in the region. Event study methodology is employed to investigate the scientific problem of value generation as a consequence of analysed transactions. Findings of the study show that there is statistically significant positive effect observed when analysing value variations as a result of mergers and acquisitions taking place in the EU-10 region. However, there are great differences observed when different countries or groups of countries are analysed in EU-10. This finding supports the conclusions of previous researches in the field stating that value creation in mergers and acquisitions varies greatly in separate regions or countries. It was also found during the research that transactions taking place in the Baltic states have generated the highest value increase in EU-10 during the period of 2004–2013.</p></div>","PeriodicalId":37115,"journal":{"name":"Intellectual Economics","volume":"9 1","pages":"Pages 1-7"},"PeriodicalIF":0.0,"publicationDate":"2015-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.intele.2015.10.002","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"54439095","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The ecovillage experience as an evidence base for national wellbeing strategies","authors":"Robert Hall","doi":"10.1016/j.intele.2015.07.001","DOIUrl":"10.1016/j.intele.2015.07.001","url":null,"abstract":"<div><p>Overarching policy objectives for national wellbeing are currently being developed by national governments, replacing the objective of economic growth. Maximising the quality of people's lives, their happiness or subjective wellbeing has, however, been the conscious strategy of ecovillages. With up to a half-century of empirical experimentation, ecovillages offer an evidence base that can be utilised to benefit the wider society. In order to facilitate the research needed for appropriate government policies to deliver a high level of national wellbeing, this paper attempts to shed light on some twenty different elements—the common attitudes and practices of ecovillages—which have allowed them to succeed in this endeavour. Further research on the wellbeing of ecovillages is suggested to enable the wider society to focus on the process of achieving a higher level of wellbeing for sustainable development.</p></div>","PeriodicalId":37115,"journal":{"name":"Intellectual Economics","volume":"9 1","pages":"Pages 30-42"},"PeriodicalIF":0.0,"publicationDate":"2015-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.intele.2015.07.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"54438746","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Scandinavian bank subsidiaries in the Baltics: Have they all behaved in a similar way?","authors":"Aldona Jočienė","doi":"10.1016/j.intele.2015.09.002","DOIUrl":"10.1016/j.intele.2015.09.002","url":null,"abstract":"<div><p>The Baltic banking sectors are dominated by the subsidiaries of Scandinavian banks. Before the crisis in 2009, these banks were part of the shock creators in the Baltic countries, and later they became shock absorbers. Since the crisis, the question on the particularities of the business models adopted by foreign-owned banks has been often raised. This research analyses the similarities and differences between the business models of the Scandinavian bank subsidiaries in the Baltics. The main focus was to identify whether the subsidiaries of each bank's Baltic group acted in a similar way or not during the period of 2006–2014. Banks in Lithuania, Latvia and Estonia are strongly dependent on the decisions of the parent banks in the Baltic region. The implications of this policy towards the subsidiary banks within the country can be positive if the group's innovations are implemented in the Baltic region. However, the implications can also be negative if the parent bank makes inadequate decisions in regards to the situation of the country and does not take into account the needs of the country.</p></div>","PeriodicalId":37115,"journal":{"name":"Intellectual Economics","volume":"9 1","pages":"Pages 43-54"},"PeriodicalIF":0.0,"publicationDate":"2015-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.intele.2015.09.002","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"54438860","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Fernando García , Jairo Alexander González-Bueno , Javier Oliver
{"title":"Mean-variance investment strategy applied in emerging financial markets: Evidence from the Colombian stock market","authors":"Fernando García , Jairo Alexander González-Bueno , Javier Oliver","doi":"10.1016/j.intele.2015.09.003","DOIUrl":"10.1016/j.intele.2015.09.003","url":null,"abstract":"<div><p>In any investment, an analysis of the expected return and the assumed risk constitutes a fundamental step. Investing in financial assets is no exception. Since the portfolio selection theory was proposed by Markowitz in 1952, this methodology has become the benchmark in portfolio management. However, it is not always possible to apply it, especially when investing in emerging financial markets, which are characterised by a scant variety of available stocks and very low liquidity. In this paper, using the Colombian case, we will examine the challenges found by investors who want to create a portfolio using only stocks listed on a scarcely developed stock market.</p></div>","PeriodicalId":37115,"journal":{"name":"Intellectual Economics","volume":"9 1","pages":"Pages 22-29"},"PeriodicalIF":0.0,"publicationDate":"2015-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.intele.2015.09.003","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"54438899","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"3rd International Scientific Conference “Practice and Research in Private and Public Sector”","authors":"D. Jurevičienė","doi":"10.13165/IE-13-7-2-10","DOIUrl":"https://doi.org/10.13165/IE-13-7-2-10","url":null,"abstract":"3rd International Scientific Conference “Practice and Research in Private and Public Sector”","PeriodicalId":37115,"journal":{"name":"Intellectual Economics","volume":"7 1","pages":"260-263"},"PeriodicalIF":0.0,"publicationDate":"2014-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66260481","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Theoretical Model of Estimating the Quality of Life Index","authors":"S. Puškorius","doi":"10.13165/IE-14-8-1-04","DOIUrl":"https://doi.org/10.13165/IE-14-8-1-04","url":null,"abstract":"The goals of this paper are: to determine the stages of calculation of the quality of life index, to identify the quality of life index estimation branches, to distinguish the main indicators depicting the quality of each working area, to introduce the corresponding mathematical models of each area, and present the method of calculation of the integral quality of life index. Plenty of models are used to measure the quality of population’s life index, but as a rule they estimate influence of economical variables. The author of this paper tries to include many more indicators covering all the important dimensions. The originality of the paper includes determination of major dimensions, which define the quality of life index, two proposed mathematical models of calculation of the integral quality of the life index and the specific indicators suitable for every situation, the estimation of ways to measure weigh constituent coefficients, choosing the unit of measurement for any indicator and the discussion of different ways to obtain the necessary information. The models referred above are modern ones and have not been used before. This research is a theoretical one. The author is going to take practical steps to employ this methodology in the research under the project “Creation of system of measurement indicators and evolution model of the quality of life of Lithuanian population”.","PeriodicalId":37115,"journal":{"name":"Intellectual Economics","volume":"8 1","pages":"55-64"},"PeriodicalIF":0.0,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66260242","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Analysis of regional investment position using fuzzy clusters","authors":"K. Navitskaya","doi":"10.13165/IE-14-8-2-04","DOIUrl":"https://doi.org/10.13165/IE-14-8-2-04","url":null,"abstract":"The paper presents the result of investment position’s evaluation of Grodno counties in 2008-2013. The concept includes the estimation of the lower level of the regional economy (17 regions and the main city Grodno). Using of fuzzy clusters lets to receive gradual transition of counties. At first we received fuzzy clusters and membership functions for regions with similar socio-economic development. Then we analyzed investment positions and value of investments of counties. In the end, we estimated the impact of investments in socio-economic development and drew some conclusions. The methodology can be used for regional investment position evaluation by investors or governance.","PeriodicalId":37115,"journal":{"name":"Intellectual Economics","volume":"8 1","pages":"52-65"},"PeriodicalIF":0.0,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66260780","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Simplification of the rural development programme: effectiveness of the management decision in the field of common agricultural policy","authors":"S. Kolev, Roumiana Atanassova","doi":"10.13165/IE-14-8-2-06","DOIUrl":"https://doi.org/10.13165/IE-14-8-2-06","url":null,"abstract":"Abstract: the present report is intended to analyse and propose methods for the improvement of the process of management decision-making in the field of agriculture in Bulgaria. It will increase the effectiveness and speed up simplification on the basis of analysis of existing gaps and opportunities in the management of funding available under the Rural Development Programme (RDP).It will also significantly reduce bureaucracy. It is important to note that avoiding frequent changes of rules for the implementation of the RDP is an essential condition for smooth operation of the programme. Impact Assessment is used at the EU level, and it is well known as an assessment tool of the potential economic, social and environmental consequences. This assessment tool was used before new initiatives of the European Commission were proposed, however rarely implemented at Member States level. The goal of the article is to justify the analyses need of the effects for the RDP measures implementation, using the Balanced Scorecard, Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM). It would allow simplification of the procedures and will increase the effectiveness of the RDP funding. The simplification and the analyse of the effects of the RDP measures funding are a new element of analysis. This analysis has to include the impact, as well as the costs for and benefits of the implementation of each measure. Economic effectiveness and simplification in the implementation of the different measures of the program are considered. The aim is to achieve optimal management solutions that will generate higher added value.","PeriodicalId":37115,"journal":{"name":"Intellectual Economics","volume":"8 1","pages":"78-91"},"PeriodicalIF":0.0,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66260834","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Economic convergence and the Global Crisis of 2008-2012: the case of Baltic countries and Ukraine","authors":"Andrii Verstiak, Oksana Verstiak, O. Pityk","doi":"10.13165/IE-14-8-2-10","DOIUrl":"https://doi.org/10.13165/IE-14-8-2-10","url":null,"abstract":"The sustainable economic welfare of the new EU Member States is reflected in the convergence process. The paper is dedicated to the investigation of the convergence between Ukraine, Baltic countries and other EC countries within the various indices of the social-economic development. The system of economic growth models is analyzed: the convergence is theoretically grounded on the basis of Solow model, and thus the methods of empiric control of convergence concept are determined. The empiric analysis of convergence processes between above mentioned countries showed that the most spreading method of convergence presence in the rate of economic growth is the reduction of the inequality in the GDP per capita level among the countries groups.","PeriodicalId":37115,"journal":{"name":"Intellectual Economics","volume":"8 1","pages":"135-146"},"PeriodicalIF":0.0,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66262142","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Trade development between the European Union and members of the Eastern partnership programme. Example of Ukraine and Poland","authors":"Daniel Butyter","doi":"10.13165/IE-14-8-1-05","DOIUrl":"https://doi.org/10.13165/IE-14-8-1-05","url":null,"abstract":"Eastern dimension of the European Union is one of the most important dimensions of the European Neighbourhood Policy. Eastern Partnership is a programme aimed at tightening cooperation between the EU and its partners. The result of the Eastern Partnership programme should be the signature of DCFTA with each partner. Signing of such a Treaty can bring advantages and disadvantages as well as dangers for both sides. This article studies the best option for the economic integration for Eastern Partnership countries – customs union of Russia, Belarus and Kazakhstan or the free trade zone with the European Union. Ukraine and Poland have close historical, economical, cultural and economic ties. Their example is the best for the analysis of economic and trans-border cooperation between the EU and Eastern Partnership countries.","PeriodicalId":37115,"journal":{"name":"Intellectual Economics","volume":"8 1","pages":"65-78"},"PeriodicalIF":0.0,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66260260","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}