Search results

The purpose of this study is to determine if the Brazilian electricity sector is differently affected by the characteristics of the content in the regulatory legislation.

For better robustness of the research, the authors analyzed the period from 1995 to 2013, totaling 4,510 observations. To this end, the selection of regulatory legislation was conducted through Markov regime switching. To identify the characteristics of profile and intensity of regulatory content in each legislation, we applied the content analysis technique.

The main findings of this study position this research in the vanguard regarding other research in the area by showing that all regulatory measures whose characteristics denote market profile of strong and medium intensity affect the risk of electric utilities in Brazil. As contribution from this research, it can be hypothesized that for provisional measures/laws events, the profile and intensity of regulatory content are relevant and have different impact on the risk of stocks and, therefore, should be considered in the design and development of public policies.

The paper investigates by means of content analysis, the profile and intensity characteristics of the content present in the regulatory legislation and to present the impact of these characteristics on the risk of the electric energy Sector in Brazil. The research results showed that it is not all regulatory events that impact the stock market. Therefore, regulatory risk estimates must consider the intensity and scope of each legislation, given that legislation with a higher regulatory content that seeks to modify the sector’s operating rules more deeply tends to have a greater impact on the risk of companies that operate in regulated sectors. Therefore, the paper shows originality and evolution for the researchers in the area, with new and significant information.

This chapter examines the evolution of the authoritarian political tradition in Russia from its inception to the present, and its influence on the development of Russian mass media. The authoritarian tradition became most pivotal for daily life in Russia, as it ensured that the media fully ascribed to specific political agendas. The cohesion has consistently affected Russian media coverage and continues to shape it today. The authors investigate how precisely this occurs, focusing on several political events, specifically the current situation in Ukraine. Through studying certain empirical materials concerning the political evolution in Russia, the authors answer the question of whether in the future Russian media will be likely to continue serving as an instrument of political propaganda rather than as a source of non-biased information.

“A knowledge of different literatures is the best way to free one's self from the tyranny of any of them.” Jose Marti, Cuban writer, poet and statesman.

Customers today expect businesses to cater to their individual needs by tailoring the products they purchase to their own preferences. The term “Industry 5.0” refers to a new wave of manufacturing that aims to meet each customer's unique demands. Even while Industry 4.0 allowed for mass customization, that wasn't good enough before, customers today demand individualized products at scale, and Industry 5.0 is driving the transition from mass customization to mass personalization to meet these demands. It caters to the individual needs of each consumer by meeting their demands. More specialized components for use in medicine are made possible by the widespread customization made possible by Industry 5.0. These individualized parts are included into the medical care of the patient to meet their specific needs and preferences. In the current medical revolution, an enabling technology of Industry 5.0 can produce medical implants, artificial organs, bodily fluids, and transplants with pinpoint accuracy. With the advent of AI-enabled sensors, we now live in a world where data can be swiftly analyzed. Machines may be programmed to make complex choices on the fly. In the medical field, these innovations allow for exact measurement and monitoring of human body variables according to the individual's needs. They aid in monitoring the body's response to training for peak performance. It allows for the digital dissemination of accurate healthcare data networks. In order to collect and exchange relevant patient data, every equipment is online.

The purpose of this paper is to perform an event study using high frequency data on peso-denominated Colombian government bonds to measure the effects of news during the global financial crisis (GFC).

Using standard event study methodology, the authors want to see if a surprise (originating from macroeconomic news and GFC events) has a significant effect on asset prices measurable as abnormal returns. The authors also assume that the US market acted as a transmission mechanism for the crisis in a standard market model framework and control for confounding effects from events that originated from the crisis by taking into account the effect of global, regional and local macroeconomic surprises in the period before, during and after the GFC.

The results show that there was resilience and decoupling of the Colombian local currency bond market from the events of the GFC.

The results show that there was resilience (in terms of abnormal returns) and decoupling of the Colombian local currency bond market from the events of the GFC. The paper also finds that, on an average, Colombian bonds performed better during the period of the GFC than the period before and after the GFC.

In the event study using individual bonds the paper finds that, in most cases, negative news had a positive impact in Colombian bond prices during the GFC.

These results have important policy implications in emerging markets economies in terms of the benefits of substituting foreign currency debt with local currency debt.

This paper provides a date and time-specific timeline (Table III) of the most significant GFC events and news. The paper finds that for all the periods under observation local news related to inflation had the greatest impact in bond prices. In the case of global and regional news, inflation and trade-related surprises had also significant effects on bond prices but to a lesser extent.

The development of the current European economic area maritime cabotage market occurred when, at a policy level, the European Union forced the opening of its member-states cabotage markets to Community shipowners and extended this openness, in 1997, to the european free trade area countries. A two-tier cabotage market emerged, where a European economic area legislative framework co-exists with the legislative acts of each member-state. With such a unique background, this paper aims to investigate both the European economic area member-states and the rest of the world cabotage regimes and identify a list of reasons and policy measures used to implement cabotage policies.

By means of a desk research methodological approach, this paper analyses, from a geographical perspective, different countries’ cabotage policies and classifies them, and identifies in a systematically way a set of reasons and policy instruments that support each of chosen policies approach.

The outcome indicates that only a few countries promote free liberalised cabotage services and that most countries favour protectionist cabotage policies, whose governments can control the number of foreign vessels participating in these trades. Cabotage regimes have been categorised and the reasons behind both policies and respective policy instruments have been identified.

Quite often, researchers only focus on the cabotage policies of the European economic area countries, the USA, Australia, Japan and South Korea. This paper value rests on its ability to incorporate cabotage policies from other African, Asian and Latin American countries and to update existing information on the subject. Overall, this paper paves the way to broaden the cabotage knowledge.

The research focuses on a survey addressed to specialists in the field of financial audit. The purpose is to find out their opinion on aspects related to tax audit, principally in its private but also in its public dimension. Some conclusions are: scope – a high percentage (75 percent) thinks that the scope of a financial audit with respect to tax field should approach all the non‐prescribed tax exercises; tools – the four most important tools used to obtain evidence of a fiscal situation of a company are the following: global similarities (71 percent); external confirmations (56 percent); computer systems (54 percent) and dynamic analysis (53 percent); and responsibility – there exists a slight disagreement about the hypothesis that the auditor may be responsible for the quantification of a probable contingency, but 56.4 percent of the respondents consider the auditor is responsible for a fiscal fraud when (s)he has deliberately hid information about it.

The purpose of this paper is to report on a study that was done among older adults in the city of Bahia Blanca, Argentina regarding their awareness and use of cultural heritage and commercial recreational sites.

This exploratory study among this historically understudied segment of the population used interviews and historical images to analyze their perceptions about such spaces and to establish a link between those perceptions and their civic identity.

The study found that appreciation of local cultural heritage sites was considerably lower than appreciation of commercial recreational areas and suggests possible interventions to enhance the use and appreciation of cultural heritage sites.

This paper about Bahia Blanca derives its relevance from venturing into an analysis of the opinions about such sites among an age segment, the elderly, that has been poorly addressed in other studies, in particular in the Latin American context. The study reported here generated firsthand information that may serve public servants in making decisions in the context of locally developed cultural policies and presents a methodological model and data collection and analysis techniques that may be of interest for development elsewhere.

In Argentina there is a lack of research studies in the “older adults” age bracket. The contribution of this manuscript lies in creating a connectivity among concepts such as recreation/leisure, heritage and lived space, by using new contributions in the geography of leisure that are associated with the geography of everyday life. The concepts are integrated in the study of subjective spaces of individuals.