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Multicriteria evaluation of high-speed rail, transrapid Maglev and Air passenger transport in Europe
Milan Janić, 2003, original scientific article

Abstract: This article deals with a multicriteria evaluation of High-Speed Rail, Transrapid Maglev and Air Passenger Transport in Europe. Operational, socio-economic and environmental performance indicators of the specific high-speed transport systems are adopted as the evaluation criteria. By using the entropy method, weights are assigned to particular criteria in order to indicate their relative importance in decision-making. The TOPSIS method is applied to carry out the multicriteria evaluation and selection of the preferable alternative (high-speed system) under given circumstances.
Keywords: high-speed transport systems, Europe, multicriteria analysis, entropy method, interest groups
Published: 05.06.2012; Views: 1416; Downloads: 70
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Group decision making
Vladislav Rajkovič, 2011, original scientific article

Abstract: The paper discusses group decision making as a way of managing decision knowledge. Described are pros and cons of group decision making. Special emphasis is given to the leveraging of different interests and possibilities of formulating a joint decision. Available methods and techniques together with a properly organized group work can make a substantial contribution.
Keywords: decision making, groups, conflict of interest, leveraging interests, hierarchical modelling
Published: 10.07.2015; Views: 605; Downloads: 46
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Grammar school students' opinions on the art curriculum
Tomaž Zupančič, Annely Köster, Teresa Torres de Eça, 2015, original scientific article

Abstract: The article presents the attitude of grammar school students towards the art curriculum. It first provides an overview of the characteristics of contemporary art education, with an emphasis on the postmodern art curriculum and on linking course content with students’ interests. The study is based on the descriptive and causal non-experimental method, with a sample comprising 387 Slovenian, Estonian and Portuguese students. It was established that the students place the highest value on developing creativity, and are less interested in art history content and learning about the basics of the formal art language. They are attracted to contemporary topics, such as graffiti, multicultural art, the use of new media, and digital technologies. The results of the study provide opportunities for future comparative analyses and starting points for updating art curricula.
Keywords: arts education, fine arts, contemporary art, curriculum, grammar school, motivation, students' interest
Published: 13.07.2017; Views: 551; Downloads: 48
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Corporate governance of banks in Poland and Slovenia
Polona Pašić, Borut Bratina, Mejra Festić, 2016, original scientific article

Abstract: This paper focuses on the analysis of the characteristics of corporate governance in banks in Poland and Slovenia between 2005 and 2013. It studies the impact of corporate governance in these banks on their performance. The results of our research show that Slovenia achieved lower average scores for the variables and indicators related to the transparency of corporate governance than Poland. The density of banks with the highest corporate governance index scores was higher in Poland than in Slovenia. When examining the impact of corporate governance on bank performance as measured with net interest income, the regression analysis showed that its impact is positive in both countries and that it is statistically significant in Slovenia.
Keywords: corporate governance, bank performance, Central and Eastern Europe, corporate governance index, net interest income
Published: 03.04.2017; Views: 424; Downloads: 196
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Testing the performance of cubic splines and Nelson-Siegel model for estimating the zero-coupon yield curve
Eva Lorenčič, 2016, original scientific article

Abstract: Understanding the relationship between interest rates and term to maturity of securities is a prerequisite for developing financial theory and evaluating whether it holds up in the real world; therefore, such an understanding lies at the heart of monetary and financial economics. Accurately fitting the term structure of interest rates is the backbone of a smoothly functioning financial market, which is why the testing of various models for estimating and predicting the term structure of interest rates is an important topic in finance that has received considerable attention for many decades. In this paper, we empirically contrast the performance of cubic splines and the Nelson-Siegel model by estimating the zero-coupon yields of Austrian government bonds. The main conclusion that can be drawn from the results of the calculations is that the Nelson-Siegel model outperforms cubic splines at the short end of the yield curve (up to 2 years), whereas for medium-term maturities (2 to 10 years) the fitting performance of both models is comparable.
Keywords: Cubic splines, Nelson-Siegel, yield curve, zero-coupon bonds, term structure of interest rates
Published: 14.11.2017; Views: 477; Downloads: 182
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Testing the sustainability of growth of the LJSEX in the January 2000 to May 2010 period
Aleš Ahčan, 2011, original scientific article

Abstract: In this paper we analyse the behaviour of the LJSEX, the main index of the Ljubljana Stock Exchange, in the period from January 2000 till May 2010. More precisely, we test for the presence of bubbles and antibubbles and try to determine whether or not a bubble could have been predicted (both the formation and the date of the bubble burst). Second, we also employ techniques used to model antibubbles to forecast the future behaviour of the LJSE index. Besides modelling index dynamics for the aforementioned period, we also seek to determine the factors that led to the bubble forming and later bursting. We find that the bubble could have been forecasted at least several months in advance. On the other hand, a very precise date of the crash seems harder to identify. By more closely analysing the interplay between interest rates, credit activity and the LJSEX, we conclude that there is a clear connection between decreasing interest rates, increased credit activity and the formation of a stock bubble. If there is a clear correlation between the early phase of a bubble and increased credit activity of the banking sector, the link between the end of the bubble and the restriction of credit activity is less pronounced. By fitting the extended antibubble model from (Johansen 1999a) we obtain the values of parameters that give us some indication of the future behaviour of the LJSEX. Based on these results we conclude that in the next few years we are likely to experience a period of increased volatility with no clear increasing or decreasing growth pattern.
Keywords: exchange, interest rate, business mathematics, calculations, models
Published: 22.01.2018; Views: 253; Downloads: 171
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Challenges posed by novel vaccines in a hyperlinked society both to doctors and the health of their patients
Alojz Ihan, 2018, review article

Abstract: Medicine in the developed world is becoming progressively more commercialized since patients (or, more accurately, medical consumers) are increasingly becoming the driving force of what we call medical progress. The doctors are primarily obliged to treat and help patients, but will always have also (commercial) temptation before him: to facilitate the consumer's desires and, with a warm heart, shoot to the far borders of medical knowledge and technology. A good example illustrating dilemma of beneficial vs commercial medicine are ethical challenges of some new vaccines developed recently. Since their earliest introduction in the late 18th century, vaccines have undoubtedly saved the lives of millions, while also fundamentally changing the way modern medicine is practiced. Many diseases that were once widespread are now eradicated, yet vaccine development faces ongoing challenges, including some important ethical considerations. Today there are over 300 vaccines in development and included in clinical trials. Among them, anti-addiction vaccines (Cocaine, Nicotine, Fentanyl, Heroin, Oxycodone) received a burst of media attention, because these vaccines could help people in recovery from addiction; however, many ethical and legal questions may arise before clinical use.
Keywords: conflicts of interest, physicians, commercialization, public health
Published: 09.10.2018; Views: 277; Downloads: 23
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