Some of the Unanswered Questions in Finance

A very dynamic development of finance in the last 50 years is inter alia probably due to experiments and innovations in this field. Previously, theoretical base could not explain and predict movements especially in volatile times. The new finance appeared 50 years ago (portfolio theory, CAPM, the efficient market theory, M&M theorem) and made substantial progress in understanding movements in globalised and internationalised financial markets. However, many questions remain open. The author tries to put emphasis on some of these questions, perfectly aware that these are not the only ones. Unresolved questions are related to company's aims, project's risks, degree of port-folio optimisation, importance of liquidity, dividend policy, as well as factors that deter-mine M&A. As the new finance is not able to predict and explain volatile movements, a question that should be posed is whether it is appropriate to add some non-economic factors as the behaviourist theory suggests. Although the behaviourist theory is an important part of new finance, it is unfortunately the only theory able to explain movements in volatile times. In conclusion, many questions still remain unanswered and wait for appropriate theoretical explanations.New Finance, Operational leverage, Risk, Portfolio optimisation, Rating agencies, Efficient market hypothesis, Quality of liquidity, Behaviorist theory

OVERVIEW ON THE RESULTS OF POTENTIAL FIELD METHODS FOR THE SPATIAL POSITION OF EAST VARDAR OPHIOLITES

Book Chapter in INSIGHTS OF GEOSCIENCES FOR NATURAL HAZARDS AND CULTURAL HERITAGE, Editor: Florina CHITE

A 12th century set of marvered purple glass vessels from Braničevo (Serbia)

During the 2011 archaeological excavations at the Mali Grad site in Braničevo, a set of at least 16 vessels made of translucent dark-purple glass and decorated with marvered opaque white trails was discovered. This unique glass assemblage, consisting of at least eight bowls, three bottles, two cylindrical flasks and three further vessels which can be possibly attributed to flasks, was found in the most significant archaeological context in the urban centre of Braničevo, in the layer above the floor in House No 4. According to other archaeological finds from the same context, coins in particular, the glass vessel set is dated to the 12th century. Importantly, the finds from Braničevo are so far the earliest securely-dated vessels of this type in the territory of the Byzantine Empire, post-dating the reestablishment of its control over the Balkan Peninsula in the 11th century

Neogene and Quaternary Herpetofauna (Anura and Squamata) of Serbia

U radu je prvi put opisan deo herpetofaune (Anura i Squamata) iz neogenih i kvartarnih lokaliteta Srbije. Obrađeni su lokaliteti Sibnica, Prebreza, Lazarevc, Vračević i Riđake, neogene starosti. Lokaliteti kvartarne starosti su pećine Mala i Velika Balanica, Pešturina, Hadži Prodanova, Baranica, Vrelska pećina i sedimentne ispune fisura u kamenolomima Venčac i Beočin. U radu je prikazana je taksonomska analiza herpetoloških ostataka...The part of herpetofauna (Anura and Squamata) from the Neogene and Quaternary sites of Serbia as the subject of this dissertation was described for the first time. The Sibnica, Prebreza, Lazarevac, Vracevic and Riđake as Neogene sites and Mala and Velika Balanica caves, Pesturina, Hadzi Prodanova, Baranica and Vrelska cave, fissure fillings of the Venčac, Beočin quarries as Quaternary localities were processed. The paper presents a taxonomic analysis of herpetological remains. In addition to the taxonomic analysis of fossil material, a short geographical and geological description of the studied sites, the basic osteological characteristics of the anura and squamata, as well as their tafonomic characteristics were given..

Zoomorphic characteristics of the souls of the deceased in the beliefs of the Slavic peoples

According to Slavic folk beliefs, the soul leaves the body at the time of death in the form of a fly, butterfly, bird or mouse. It can later appear to living people in the form of some other animals, whereby differences can be observed between the so-called souls of the pure deceased or ancestors (those who died “of their own” natural death) and the so-called impure deceased (those who died prematurely or violently, who were sinners, unbaptized, practiced magic, etc.). The paper deals with folk beliefs about the zoomorphic characteristics of the souls of the mentioned groups of the deceased. The reasons for tying certain types of animals to a certain group of the deceased is examined, followed by folk beliefs about whether the soul has or takes the form of an animal or simply moves into its body. The research is based on published ethnographic and folkloristic materials in magazines and anthologies of the Slavic peoples, on scholarly studies on representations of the soul and animals in the folk culture of the Slavs, as well as on our own field records from the Banat region (Serbia).Prema slovenskim narodnim verovanjima, duša u trenutku smrti izlazi iz tela u obliku muve, leptira, ptice ili miša. Ona se kasnije može javiti živim ljudima i u obliku nekih drugih životinja, pri čemu se uočavaju razlike među dušama tzv. čistih pokojnika ili predaka (onih koji su umrli “svojom”, prirodnom smrću) i tzv. nečistih pokojnika (onih koji su umrli prerano ili nasilnom smrću, koji su bili veliki grešnici, nekršteni, bavili se magijom i sl.). U radu će se pažnja pokloniti predstavama o zoomorfnim obeležjima duša pomenutih grupa pokojnika. Istraživaće se razlozi vezivanja nekih životinja za određenu grupu pokojnika, zatim narodna shvatanja o tome da li duša ima ili preuzima formu životinje ili se prosto seli u njeno telo. Istraživanje se zasniva na objavljenoj etnografskoj i folklorističkoj građi u časopisima i zbornicima slovenskih naroda, te naučnim studijama o predstavama o duši i životinjama u narodnoj kulturi Slovena, kao i na sopstvenim terenskim zapisima iz Banata (Srbija)

Robot- assisted gait traning in children with cerebral palsy

Деца са церебралном парализом имају развојне сметње и тешкоће који се различито одражавају на њихову функционалност. Немогућност самосталног кретања негативно утиче на партиципацију и квалитет живота детета и породице. Тренинзи хода на традиционални начин или са парцијалним ослонцем на покретној траци захтевни су за терапеуте и напорни за пацијенте. Роботски потпомогнути тренинг хода ( Локомат ) омогућава велики број понављања физиолошког покрета хода и интензивни третман. Мотивација и активно учешће пацијента се повећавају видео игрицама захваљујући којимa Локомат тренинг има забавни карактер. Локомат терапија је индивидуално креирана и могуће је применити је и код деце са већим функционалним дефицитом и нижим когнитивним функцијама. Циљ ове студије је био да утврди утицај роботски потпомогнутог тренинга хода на моторичке функције, баланс и ход, на обим покрета, мишићну снагу и спастицитет доњих екстремитета деце са церебралном парализом. Други циљ је био да испита перцепцију родитеља о утицају Локомат третмана на квалитет живота детета. Истраживањем је обухваћен 41 испитаник, узраста од 4 - 14 година, који су подељени у две групе: експериментална - 26 и контролна - 15 испитаника. Експериментална група је имала 20 Локомат тренинга и 20 тренинга традиционалне терапије, а контролна група само 20 тренинга традиционалне терапије. Терапија хода Локоматом и конвенционални тренинг трајали су 40 минута. Према свим варијаблама истраживања на свим испитиваним функционалним тестовима показао се значајан позитиван ефекат у експерименталној групи. Резултати процене грубе моторичке функције на тесту GMFM димензији D показују позитиван ефекат на постуралну контролу у стојећем положају (44,84 vs 52,56), GMFM димензији E показује побољшање хода (20,13 vs 23,60). На шестоминутном тесту хода, издржљивост у ходу је повећана ( 93,37 vs 148,15 метара), на скали баланса( PBS) постурална контрола је побољшана ( 17,50 vs 21,00) и 10 метара тесту хода повећана је брзина хода ( 0,37 vs 0,55 метара у секунди). Упитник квалитета живота је показао позитиван ефекат на свим испитиваним доменима за експерименталну групу. Резултати контролне групе нису статистички значајни осим на димензији Е на GMFM и тесту ходу на 10 метара. Добијени резултати за децу нивоа I-IV на GMFCS показују позитиван утицај роботски потпомогнутог тренинга хода на моторичке функције, баланс, функционалност хода и на квалитет живота детета са церебралном парализом. Треба размотрити увођење роботски потпомогнутог тренинга хода као комплементарну методу конвенционалном тренингу у рехабилитацији деце са церебралном парализом.Children with cerebral palsy have impairments that differently affect their functioning. Walking difficulties negatively affects children’s participation and their families quality of life. Overground gait training or partially supported weight bearing treadmill training is difficult for the therapist and demanding for children as well. Robot-assisted gait training (Lokomat) is a type of intensive training which enables a great number of physiological walking pattern repetitions. Motivation and active participation by the children is increased by video games, which makes the training more engaging. Lokomat training is individually tailored and suitable for children with severe functional deficits and lower cognitive ability. The aim of this study was to determine the effect of robot-assisted gait training on motor functions and walking, range of motion, muscle strength, and the spasticity of lower extremities. Another aim was to examine the parents’ perception of the impact of Lokomat treatment on their quality of life. This study included 41 participants aged 4-14 divided into two groups: the experimental group (26) and the control group (15). The experimental group underwent 20 Lokomat and 20 traditional training sessions, while the control group underwent only 20 traditional training sessions. The duration of each training session type was 40 minutes. The experimental group showed a significant improvement in all examined functional tests. Positive effects in the GMFM test dimension D (44.84 vs. 52.56) and GMFM dimension E (20.13 vs. 23.60) were seen, as well as in the 6-minute walk test (93.37 vs. 148.15 met), PBS (17.50 vs 21.00) and 10-meter walk test (0.37 vs. 0.55 m/s). The CP QOL showed improvement in all the dimensions examined. The results of the control group were minimal and practically insignificant compared with the experimental group, except on GMFM dimension E and 10 met walk test. Robot-assisted treadmill training is effective for children with cerebral palsy in levels I—IV on the GMFCS for motor function, balance, walking, and quality of life for the children. The implementation of robot-assisted gait training as a complementary method to the traditional training in the rehabilitation of children with cerebral palsy should be strongly considered

La luna nelle credenze s nei comportamenti rituali: alcuni paralleli slavi

MOON IN RELIGIOUS BELIEFS AND RITUAL BEHAVIOUR: SOME SLAVIC PARALLELS Moon is an important element of shaping folk beliefs and ritual practice in the entire Slavic folklore. Its appearance and light take active part in formation of various mythological concepts and clarification of historical events and weather. Balkan Slavs perceived moon as a living creature sometimes attacked by other mythical creatures, such as werewolves and halas. In Serbia, Bulgaria and Macedonia it was believed that spells can take down the moon from the skies. The notion of parallel between moon phases and changes on Earth affected the system of preferable behaviour, including ritual practice. Some lunar phases were, therefore, periods favourable for certain actions, while others should have been avoided

Mikrobiološke transformacije jedinjenja fosfora i sumpora u kiselim zemljištima

The dynamics of phosphorus and sulphur in soil is closely related to the dynamics of the biological cycle in which microorganisms play a central role. There is not much microbiological activity in acid soils because aerobes are scarce, rhizosphere is restricted to the shallow surface layer, and the biomass of microorganisms decreases with higher acidity. The aim of the research was to investigate the number of microorganisms, which decompose organic and inorganic phosphorus compounds and organic sulphur compounds in calcocambisol, luvisol, and pseudogley. The following parameters were determined in the soil samples: pH in H2O and in 1MKCl; the content of CaCO3 (%); humus content (%), nitrogen content (%); the content of physiologically active phosphorus and potassium (mg P2O5/100g of soil; mg K2O/100g of soil). The number of microorganisms was determined by the method of agar plates on appropriate nutrient media: the number of microorganisms solubilizing phosphates on a medium by Muramcov; the number of microorganisms that decompose organic phosphorus compounds on a medium with lecithin; and the number of microorganisms that transform organic sulphur compounds on a medium by Baar. All three types of soil are acid non-carbonate soils with a low level of available phosphorus and a more favorable amount of potassium, nitrogen, and humus. The largest number of bacteria, which transform organic phosphorus compounds, was found in calcocambisol. The largest number of phosphate solubilizing bacteria was recorded in pseudogley, whereas the largest number of phosphate solubilizing fungi was recorded in calcocambisol. The largest number of bacteria, which transform organic sulphur compounds, was recorded in pseudogley.Dinamika fosfora i sumpora u zemljištu tesno je povezana sa dinamikom biološkog ciklusa u kojem mikroorganizmi imaju centralnu ulogu. Mikrobiološka aktivnost u kiselim zemljištima nije velika, jer su potisnuti aerobi, rizosfera je ograničena na plitku površinsku zonu, a sa povećanjem kiselosti smanjuje se i biomasa mikroorganizama. Cilj ovih istraživanja je bio da se ispita zastupljenost mikroorganizama koji razlažu organska i neorganska jedinjenja fosfora i organska jedinjenja sumpora u kalkokambisolu, luvisolu i pseudogleju. U uzorcima zemljišta određeni su sledeći parametri: reakcija zemljišta (pH) u H2O i u 1MKCl; sadržaj CaCO3 (%); sadržaj humusa (%); sadržaj azota (%); sadržaj fiziološki aktivnog fosfora i kalijuma (mg P2O5/100g zemljišta; mg K2O/100g zemljišta). Broj mikroorganizama određivan je metodom agarnih ploča na odgovarajućim selektivnim hranjivim podlogama: broj mikroorganizama koji razlažu fosfate na podlozi po: Muramcov, broj mikroorganizama koji razlažu organska fosforna jedinjenja na podlozi sa lecitinom, a broj mikroorganizama koji transformišu organska jedinjenja sumpora na podlozi po Baar-u. Sva tri tipa zemljišta spadaju u grupu kiselih beskarbonatnih zemljišta, sa niskim sadržajem pristupačnog fosfora i povoljnijim sadržajem kalijuma, azota i humusa. Najveći broj bakterija koje transformišu organska jedinjenja fosfora utvrđen je u kalkokambisolu. Najveći broj bakterija koje razlažu fosfate utvrđen je u pseudogleju, a najveći broj gljiva koje razlažu fosfate u kalkokambisolu. Najveći broj bakterija koje transformišu organska jedinjenja sumpora utvrđen je u pseudogleju

Transfer of Cs-134 and Cs-137 from soils to plants in cultivated and uncultivated soils in different regions of Yugoslavia

10th international congress of the International Radiation Protection Association; May 14-19, 2000; Hiroshima, Japa