Authors:A. Kozak, Krystyna Wieczorek-Ciurowa, and A. Kozak
Using thermal analysis as well as isothermal gravimetric measurements, the thermal stability of the zinc nitrate(V) hexahydrate
has been determined. Some intermediate products are the results of melting, evaporation, hydrolysis, polycondensation and
decomposition processes occurring in the salt - water system up to 300C. Solid phases were characterized by means of chemical
analyses and X-ray powder diffraction method.
Authors:Ch Engelmann, G. Filippi, J. Gosset, and F. Moreau
The photonuclear reactions used for this isotopic analysis are as follows:16O(γ, n)15O threshold energy 15.7 MeV;18O(γ, p)17N threshold energy 16.3 MeV.15O is a pure β+ emitter of half-life 2.03 minutes, whereas17N presents a 4.2 second neutron emission. The principle of the method is founded on the simultaneous measurement of the above
characteristic radioactivities, the intensities of which are proportional to the respective quantities of16O and18O present in the irradiated sample. The potentialities of this new oxygen isotope analysis method, based on the use of an
electron accelerator, are described. Detection limit of 0.1 μg18O is easily attainable. The equipment designed and built to industrialise this technique is described. It allows a hundred
samples to be analysed automatically, the accelerator, detection instruments and pneumatic transfer circuits being controlled
by a logic system linked to an electronic chronometer.
The paper reviews the commercial banking sector’s development during the booming years before the current global crisis in Southeast Europe. Based on the analysis of a comprehensive dataset, a common, simplified economic model could be outlined for this period, where GDP growth has been fuelled by rapid credit growth. The latter was boosted both by foreign funding and swift deposit growth volumes. Nevertheless, beside the favourable catch-up process, the level of external imbalances, credit growth and currency mismatches raised sustainability concerns and the risk of overheating.
Trust in financial institutions can be seen as a foundation for loyalty and profits in the banking industry and is relevant for the macro economy as well. Young customers are more likely to lack trust due to their lack of personal experience in finance, although parental advice may lower their risk. In this paper the authors combine trust measures with intergenerational communication theory and test it on a large dyadic sample using Z-scores. The results show a strong, holistic intergenerational effect on institutional trust, but shed light on heterogeneity in the sample due to gender, financial independence and different communication styles.
Authors:Pelin Varol Iyidoğan, Başak Dalgiç, and Hale Akbulut
It is suggested that international trade has a positive effect on the growth rate of economies. Although a vast literature has illustrated that open or more liberalised economies grow faster, the specific factors that promote this process have only recently begun to be investigated. We belive that there is a non-linear relationship between trade and growth, with the impact depending on a number of macroeconomic factors, i.e. the magnitude and even the direction of the effect of trade on economic performance might depend on other macroeconomic variables. Within this framework, our study aims to investigate the possible non-linearity in the trade-growth relationship, with a special focus on the financial deepening level for the selected Central and Eastern European (CEE) countries. Unlike the existing empirical literature on trade-growth nexus for the CEE economies, we utilise threshold regression techniques, where we allow the size and direction of the impact of trade on growth to differ between regimes, conditioning on the financial deepening level of these countries. Regarding credit growth and investment/credit ratio as thresholds, the countries in the upper regime benefit significantly more from trade.
This study examines the determinant of non-life insurance consumption in 14 countries of Central and South-Eastern Europe between 1995 and 2010 within a vector error correction model (VECM). We use non-life insurance penetration as a measure for non-life insurance consumption. Empirical results provide evidence that the number of dwellings and number of passenger cars positively and significantly influence non-life insurance consumption in the long run, while the existence of the rule of law and EU membership are significant in the short run.
Authors:Roland Zs. Szabó, Réka Szász, and Borbála Szedmák
Crowdfunding is a disruptive innovation and has provoked interest as a new way of raising finance. The objective of our research was to analyse both the demand and supply sides of the crowdfunding ecosystem. The study used two methods. The first was a database analysis of 259,114 Kickstarter campaigns. The second was a survey on public awareness of crowdfunding in Hungary, from the perspective of 132 potential investors. The findings suggest several success factors that may be useful for campaign launchers: (1) appealing project presentation; (2) diverse pool of rewards; (3) realistic set of funding goals; (4) appropriate categories and sums of pledges; and (5) frequent communication and satisfactory information about the campaign. Furthermore, the study revealed the differences between the potential investors' expectations and the reality of crowdfunding practices.
Hungary represents the second most developed venture capital and private equity (VC&PE) market in Central and Eastern Europe. This article is based on a detailed survey of the entire VC industry between 1989–2010. It demonstrates that while there was a relatively strong correlation between the allocation of capital to VC&PE funds and the capital flow into the Budapest Stock Exchange, the changes in investment activities were closely related to election years. Investments had been hampered primarily not by the shortage of capital, but by a lack of demand and attractive business plans. The article illustrates the different roles and approaches of global, regional and country VC&PE funds in Hungary. It points out that VC investments hardly satisfied their principal function or mission, namely to support innovative start-up and small businesses. Government interventions in the VC market proved to be ineffective as well. Similarly to the whole region, the Hungarian market profited from a transitory situation in the case of high-value PE transactions between 2007 and 2008, at the beginning of the crisis, when the investment problems in Western Europe had yet not extended to the CEE region. From 2009 onward, however, the crisis has resulted in a drop in investments despite the significant amount of uninvested capital accumulated in recent years. As to the prospects for 2013, the early-stage VC segment in Hungary is expected to flourish owing to the Jeremie funds, while the high-value buyout segment of the market will suffer from both the euro zone debt crisis and the loss of transparency in economic policy.
Authors:V. Logvinenko, T. Mitkina, V. Drebushchak, and V. Fedin
The cavitand cucurbituril C 48 H 48 N 32 O16 (CB) [ 1 ] ( Fig. 1 ) was used as a molecular container for different complexes of transition metals with various organic amines [ 2 ]. Specifically, [Co(en) 2