A NEW FRAMEWORK FOR THE ECONOMIC ANALYSIS OF COOPERATIVE FIRMS: Self-defined rules, common resources, motivations, and incentives

Cooperatives are characterised by mutual-benefit coordination mechanisms aimed at the fulfilment of individual behaviour and outcomes in cooperatives by bringing together new-institutionalism, behavioural and evolutionary economics. Our framework considers four main dimensions of the governance of cooperative firms: (1) the development and application of self-defined rules by the members of the cooperative; (2) the management, and appropriation of common resources and outcomes; (3) intrinsic motivations and reciprocating behaviours; (4) the implementation of suitable incentive mixes based on inclusion and reciprocity, including both pecuniary and non- pecuniary elements. An example is offered in order to highlight possible problems in the governance of cooperative firms, in particular the processes of distribution and appropriation of surplus. The example aims at introducing the discussion of the new framework of analysis.cooperative firms, common resources, motivations, incentives

The Optimization of Sharia Mutual Fund as an Investment Means to Promote Financial Inclusion in Indonesia

Abstract : Sharia mutual fund can be used as an investment alternative for investors, especially for small investors or retailers. The excess of sharia mutual funds that can be reached by all groups shall be a means to promote financial inclusion in Indonesia. Based on data released by the Bank of Indonesia (BI), in 2018, financial inclusion or access to financial institutions of the Indonesian citizens is only 49% (forty-nine percent). Therefore, we need a concrete strategy to promote financial inclusion in Indonesia in which one of the strategies that can be applied is by optimizing sharia mutual funds as an investment means. This study aims to find out the regulation and legal protection of investors in implementing sharia mutual fund investments in the marketplace. The method used was a normative juridical emphasizing on legal research literatures or secondary data. The results showed that sharia mutual funds can be one of the means in promoting financial inclusion program as it can be reached by all groups, especially small investors or retailers. The optimization of sharia mutual funds can be done by utilizing advanced technology in which one of them is the implementation of sharia mutual fund investments through the marketplace. Sharia mutual fund investment in the marketplace has the potential to develop as it can be done easily, quickly, and cheaply. However, the implementation of sharia mutual fund investments in the marketplace still requires strengthening regulations to provide legal certainty and legal protection for its users.Keywords: Investment, Optimization, Sharia Mutual Funds. Optimalisasi Reksadana Syariah sebagai Sarana Investasi dalam Rangka Memajukan Keuangan Inklusif di IndonesiaAbstrak : Reksadana syariah dapat dijadikan salah satu alternatif investasi bagi investor, khususnya investor kecil atau ritel. Kelebihan reksadana syariah yang dapat dijangkau oleh semua kalangan dapat menjadi sarana dalam rangka memajukan keuangan inklusif di Indonesia. Berdasarkan data Bank Indonesia (BI) pada tahun 2018 inklusi keuangan atau akses terhadap lembaga keuangan masyarakat Indonesia hanya sebesar 49% (empat puluh sembilan persen). Oleh karenanya diperlukan strategi dan langkah-langkah konkrit guna memajukan inklusif keuangan di Indonesia yang salah satunya dapat melalui pengoptimalan reksadana syariah sebagai sarana investasi. Tujuan penelitian ini adalah untuk mengetahui bagaimana pengaturan dan perlindungan hukum investor dalam pelaksanaan investasi reksadana syariah di marketplace. Metode penelitian yang digunakan adalah yuridis normatif dengan menitik beratkan kepada penelitian hukum kepustakaan atau data sekunder. Hasil penelitian menunjukan bahwa reksadana syariah dapat menjadi salah satu sarana dalam mendukung program keuangan inklusif dikarenakan dapat dijangkau oleh semua kalangan terutama investor kecil atau ritel. Optimalisasi reksadana syariah dapat dilakukan dengan cara memanfaatkan penggunaan teknologi secara muktahir, salah satunya yaitu pelaksanaan investasi reksadana syariah melalui marketplace. Investasi reksadana syariah di marketplace sangat berpotensi berkembang dikarenakan investasi reksadananya dapat dilakukan dengan mudah, cepat, dan murah. Namun pelaksanaan investasi reksadana syariah di marketplace tersebut masih memerlukan penguatan regulasi guna memberikan kepastian dan perlindungan hukum yang kuat bagi para penggunanya.Kata kunci: Investasi, Optimalisasi, Reksadana Syaria

Molecular quantum mechanical gradients within the polarizable embedding approach—Application to the internal vibrational Stark shift of acetophenone

We present an implementation of analytical quantum mechanical molecular gradients within the polarizable embedding (PE) model to allow for efficient geometry optimizations and vibrational analysis of molecules embedded in large, geometrically frozen environments. We consider a variational ansatz for the quantum region, covering (multiconfigurational) self-consistent-field and Kohn–Sham density functional theory. As the first application of the implementation, we consider the internal vibrational Stark effect of the C==O group of acetophenone in different solvents and derive its vibrational linear Stark tuning rate using harmonic frequencies calculated from analytical gradients and computed local electric fields. Comparisons to PE calculations employing an enlarged quantum region as well as to a non-polarizable embedding scheme show that the inclusion of mutual polarization between acetophenone and water is essential in order to capture the structural modifications and the associated frequency shifts observed in water. For more apolar solvents, a proper description of dispersion and exchange–repulsion becomes increasingly important, and the quality of the optimized structures relies to a larger extent on the quality of the Lennard-Jones parameters

The aspect of culture in the social inclusion of ethnic minorities: evaluation of the impact of inclusion policies under the open method of co-ordination in the European Union ; assessing the cultural policies of six member states ; final report Latvia

'The aim of the project is the evaluation of the cultural policies of the National Action Plans (NAPs) on Social Inclusion under the European Union's Open Method of Coordination (OMC) in six member states: Estonia, Latvia, Czech Republic, Slovak Republic, Slovenia and Sweden. The project evaluates the effectiveness of cultural policies of the NAPs aimed at the social inclusion of ethnic minorities by identifying appropriate indicators - a set of Common Inter-Cultural Indicators (CICIs) feasible for cost-effectiveness analyses, and using a cost-effectiveness evaluation approach. Latvia is traditionally a multiethnic society. Before restoration of independence in 1990 and as a result of the ethnic policy of the USSR, the proportion of multiethnic minorities comprised of 48% of the total population. It has diminished since, but ethnic and social integration is still a very important part of the national policy. Societal integration is oriented towards the individual and mutual understanding and cooperation between different groups, based on Latvian language as the state language as well as on the loyalty towards the Latvian state. For an individual, integration is an increased opportunity to experience one's human rights and freedom, as well as to increase participation in social and political life. Of the minority cultural policies - culture, education, mass media and social participation - that are aimed at social inclusion of minorities, the Latvia language and education policy has been the most important recently, as education reform has been implemented and bilingual education programmes, which began in 1999, have been introduced in minority schools. In this report, we will first provide a brief overview of the ethnic composition of the population of Latvia. Then, we will explore the relationship between the language, education and social inclusion policies in Latvia, and NAP (2004-2006) and related policy documents regulating the minority culture and social inclusion policies in Latvia. Then, we will describe the situation of the education system in Latvia and the history of implementation of bilingual education policy as well as the legal acts regulating the process. We will also discuss the methodology applied to the focus groups and for the choice and calculation of cost-effectiveness analysis indicators. It is important to use both the qualitative evaluation method as well as to calculate the indicators, as implementation of the education reform is still on going, and only evaluation of mid-term results can be given. Finally, the results of the focus groups and cost-effectiveness analysis of the implementation of bilingual education in Latvia along with relevant conclusions will be drawn both on the implementation of the policy and the indicators to be applied for evaluation of effectiveness of the education policy.' (excerpt

The Civic School : Australian-Indonesian professional collaboration to model and audit the development of democratic primary classrooms and teacher language using the index for inclusion

The study is a pilot project in Australian-Indonesian institutional collaboration for the professional development of primary school teachers in West Sumatra in citizenship education. Senior staff in the department of Pancasila and Citizenship Education at the State University of Padang (UNP), West Sumatra initiated the project. UNP staff sought the collaboration of the Faculty of Education at the University of Tasmania for bringing about and sustaining changes in teacher practice needed to implement the new civic goals in the 1999 Suplemen. The Index for Inclusion was used to model and audit the development of democratic primary classrooms and language use in a cluster of Padang schools in West Sumatra. The paper describes the background to the project and how the Index for Inclusion was understood during the initial two-week implementation phase by teachers and school principals. The significance of the study lies in the potential of the Index for Inclusion internationally to citizenship education, a field of education that was not considered in the initial development of the Index project and the contribution of the multiple fields of inquiry to the evolving theoretical understandings of inclusive education.<br /

Intergenerational Education for Social Inclusion and Solidarity: The Case Study of the EU Funded Project "Connecting Generations"

This paper reflects on lessons learned from a validated model of international collaboration based on research and practice. During the European Year for Active Ageing, a partnership of seven organizations from the European Union plus Turkey implemented the Lifelong Learning Programme partnership “Connecting Generations‘ which involved universities, non-governmental organizations, third age Universities and municipalities in collaboration with local communities. Reckoning that Europe has dramatically changed in its demographic composition and is facing brand new challenges regarding intergenerational and intercultural solidarity, each partner formulated and tested innovative and creative practices that could enhance better collaboration and mutual understanding between youth and senior citizens, toward a more inclusive Europe for all. Several innovative local practices have experimented, attentively systematized and peer-valuated among the partners. On the basis of a shared theoretical framework coherent with EU and Europe and Training 2020 Strategy, an action-research approach was adopted throughout the project in order to understand common features that have been replicated and scaled up since today

Learning Bayesian Networks with the bnlearn R Package

bnlearn is an R package which includes several algorithms for learning the structure of Bayesian networks with either discrete or continuous variables. Both constraint-based and score-based algorithms are implemented, and can use the functionality provided by the snow package to improve their performance via parallel computing. Several network scores and conditional independence algorithms are available for both the learning algorithms and independent use. Advanced plotting options are provided by the Rgraphviz package.Comment: 22 pages, 4 picture

The implementation of a competency based assessment system for applicants for a restrictive licence for cadastral surveying

The Surveyors Board of Queensland has the responsibility for assessing the standards and regulating cadastral surveyors within the state. Recent legislative changes have required the Board to implement a competency based assessment scheme. This paper summarises the legislative framework and the theory of competency based assessment. It goes on to describe the development of competency standards for surveyors and the implementation of an assessment scheme. The move to a competency based assessment system was a substantial task undertaken by the Board and the paper discusses some useful lessons that may be learnt by other jurisdictions considering a similar move