Tax implications of dividend policy

This study examines the tax-arbitrage possibilities on the Budapest Stock Exchange between 1995 and 2007. The theoretical possibility for the arbitrage is the different taxation for different stockholders, for the private investors and for the institutions: the institutions had higher taxation on capital gain while private persons in the whole period had tax-benefits on capital gains. The dynamic clientele model shows, that there is a range of the price drops after dividend payouts which guarantees a risk-free profit for both parties. The research is based on the turnover data from 97 companies listed on the Budapest Stock Exchange. We have tested the significant turnovers around the dividend-dates. The study presents clear evidence that investors continuously did take advantages on the different taxation

Magyarország tízéves EU-tagságának pénzügyi mérlege

Magyarország európai uniós tagságának költségvetési kérdéseivel, az Európai Uniótól kapott források felhasználásával és hasznosulásával számos tanulmány foglalkozik. A következő írás célja nem az, hogy a témával foglalkozó közgazdasági tanulmányok számát eggyel növelje, hanem a szerzőnek a 2004 és 2009 közötti európai parlamenti, valamint 2010-től máig tartó európai számvevőszéki tapasztalatai alapján adjon összefoglalást Magyarország és az Európai Unió közötti pénzügyi kapcsolatok alakulásáról, betekintést engedve az Európai Unió költségvetését kialakító „boszorkánykonyha” működésébe. Journal of Economic Literature (JEL) kód: F36, 019

ÚJABB FEJLEMÉNYEK A NYELVI REVITALIZÁCIÓ KUTATÁSÁBAN

The article aims to present the newest trends in the research of language revitalization. It starts with outlining the most important periods of language revitalization activities and the role the linguists and sociolinguists played in reviving endangered languages. It gives a synthesis of the most important articles on the topic published at the end of the 20th and the beginning of the 21st century with a special regard to the theoretical framework developed by the activities of Krauss and Fishman. The article also gives an overview of the Extended Graded Intergenerational Disruption Scale created by Lewis and Simons which is a refined version of Fishman’s GIDS and is used in the scholarly literature as a valid tool to measure the vitality of languages. The second part of the article outlines the newest trends and methods in language documentation as well as the role of the newest technologies in revitalizing endangered languages. Key words: language endangerment, language revitalization, EGIDS, language documentation, new technologie

REVITALIZE OR NOT? MINORITY COMMUNITIES AND ENDANGERED LANGUAGES IN A GLOBALIZING WORLD

According to the statistics regarding the endangerment of languages, a very high percent of the languages of the world are in danger of extinction. Some estimations state that approximately 90% of the 6,000-7,000 languages spoken today will be extinct in 100 years if the processes of language change and language loss continue at the present pace. According to others, this rate is around 50%. This raises the question of language revitalization and of reversing language shift. My paper aims to present the newest trends in language revitalization theory and practices with a special regard to globalization and linguistic human rights from the sociolinguistic and ecolinguistic perspective. The paper also aims to give an overview of the Expanded Graded Intergenerational Disruption Scale which provides a more detailed description of the level of endangerment of the particular languages