Collective flow and hydrodynamics in large and small systems at the LHC

In this article, we briefly review the recent progress on collective flow and hydrodynamics in large and small systems at the Large Hadron Collider (LHC), which includes the following topics: extracting the QGP viscosity from the flow data, initial state fluctuations and final state correlations in 2.76 A TeV Pb--Pb collisions, correlations and collective flow in high energy p--Pb and p--p collisions.Comment: 43 pages, 15 figures, Invited Review for Nuclear Science and Technique

Theory of financial integration and achievements in the European Union

Financial integration is the process that has been occurring in the European Union for many years and that intensified after adoption of the common currency in 1999. This paper discusses the theoretical framework of financial integration, particularly the definition, typology, benefits and drawbacks. More opportunities for risk sharing and diversification, better allocation of capital among investment opportunities, and potential for higher economic growth were identified as the crucial benefits of financial integration. By contrast, we consider increased vulnerability to external macroeconomic shocks and financial crises transmitted to higher output and consumption volatility as the most serious drawbacks of financial integration. The paper also summarizes the progress in financial integration that has been achieved in individual segments of the European Union financial sector. It is evident that the most integrated are the euro area money market and the government bonds markets. The remaining financial markets are still rather fragmented.financial integration; financial markets; European Union; euro area

Importance of non-flow in mixed-harmonic multi-particle correlations in small collision systems

Recently CMS Collaboration measured mixed-harmonic four-particle azimuthal correlations, known as symmetric cumulants SC(n,m), in pp and pPb collisions, and interpreted the non-zero SC(n,m) as evidence for long-range collectivity in these small collision systems. Using the PYTHIA and HIJING models which do not have genuine long-range collectivity, we show that the CMS results, obtained with standard cumulant method, could be dominated by non-flow effects associated with jet and dijets, especially in $pp$ collisions. We show that the non-flow effects are largely suppressed using the recently proposed subevent cumulant methods by requiring azimuthal correlation between two or more pseudorapidity ranges. We argue that the reanalysis of SC(n,m) using the subevent method in experiments is necessary before they can used to provide further evidences for a long-range multi-particle collectivity and constraints on theoretical models in small collision systems.Comment: 7 pages and 6 figures, replace with published versio

Corporate Social Responsibility in the context of International Financial Institutions

The term Corporate Social Responsibility (CSR) is becoming more and more often spelled out in various contexts of the academic and corporate life. The concept of CSR is rather broad and the term CSR could be defined in various ways, as there has been no unified definition established so far. Yet the word ‘corporate’ in the term could indicate that CSR is exclusive matter of private companies. However, as demonstrated in this paper, the non-corporate institutions, in particular the International Financial Institutions (IFIs) are implementing CSR in their strategies as well. The paper provides an overview of different types of the CSR activities undertaken by the IFIs with the two main objectives; (i) to provide an insight into the CSR practices of the IFIs and (ii) to identify the main reasons why the IFIs are socially responsible and why are they promoting their social responsibility. As one of the conclusions of the paper, it is discovered that IFIs are by their CSR activities setting up an example and the best practices to be followed in this field, therefore they act as a responsible leader for both corporate and non-corporate organizations

Corporate Social Responsibility in the context of International Financial Institutions

The term Corporate Social Responsibility (CSR) is becoming more and more often spelled out in various contexts of the academic and corporate life. The concept of CSR is rather broad and the term CSR could be defined in various ways, as there has been no unified definition established so far. Yet the word ‘corporate’ in the term could indicate that CSR is exclusive matter of private companies. However, as demonstrated in this paper, the non-corporate institutions, in particular the International Financial Institutions (IFIs) are implementing CSR in their strategies as well. The paper provides an overview of different types of the CSR activities undertaken by the IFIs with the two main objectives; (i) to provide an insight into the CSR practices of the IFIs and (ii) to identify the main reasons why the IFIs are socially responsible and why are they promoting their social responsibility. As one of the conclusions of the paper, it is discovered that IFIs are by their CSR activities setting up an example and the best practices to be followed in this field, therefore they act as a responsible leader for both corporate and non-corporate organizations

Theory of financial integration and achievements in the European Union

Financial integration is the process that has been occurring in the European Union for many years and that intensified after adoption of the common currency in 1999. This paper discusses the theoretical framework of financial integration, particularly the definition, typology, benefits and drawbacks. More opportunities for risk sharing and diversification, better allocation of capital among investment opportunities, and potential for higher economic growth were identified as the crucial benefits of financial integration. By contrast, we consider increased vulnerability to external macroeconomic shocks and financial crises transmitted to higher output and consumption volatility as the most serious drawbacks of financial integration. The paper also summarizes the progress in financial integration that has been achieved in individual segments of the European Union financial sector. It is evident that the most integrated are the euro area money market and the government bonds markets. The remaining financial markets are still rather fragmented