Improvement Of Competitiveness In Small And Medium-Sized Enterprises

While SMEs (small and medium-sized enterprises) contribute much to the economy, their competitiveness compared to that of large enterprises is negligible. Periodic evaluation of the overall competitiveness of SMEs is important to determine the reasons behind their relatively low growth rate. In order to maximize the effects of support for SMEs through government policies, determining the best means of providing support and enhancing competitiveness is necessary. Government funds or other sources of support for SMEs must be supplied according to the circumstances surrounding each enterprise. For instance, if the government invests in tangible assets, SMEs must be the target, because their size guarantees that despite their lower flexibility, competitiveness will improve. If investment is made in research and development, the firm’s long-term capacity for growth must be evaluated rather than its profitability, since there is an immediate increase in costs. There are differences in the effects of investment on flexibility, immaterial capital, and the ability to compete according to the size of the firm and the number of years it has been in business; these factors must be taken into account. Also, in allocating supporting funds to SMEs, the sites at which the funds are to be used must be examined. Active use of funds in areas where SMEs cannot invest in themselves is encouraged, rather than investment in general

THE PIANO MUSIC OF ROBERT SCHUMANN (1810-1856) AND JOHANNES BRAHMS (1833- 1897): A SURVEY OF CONCERTI, VARIATIONS, AND CHARACTER PIECES

Robert Schumann (1810-1856) and Johannes Brahms (1833-1897), in some ways Robert Schumann's artistic descendant, are the most important and representative German piano composers during the Romantic period. Schumann was already a mature and established musician in 1853 when he first met the young Brahms and recognized his talents, an encounter that had a long-lasting affect on the lives and careers of both men. After Schumann’s mental breakdown and death, Brahms maintained his admiration of Schumann’s music and preserved an intimate relationship with Clara Schumann. In spite of the personal and musical closeness of the two men, Schumann’s music is stylistically distinct from that of Brahms. Brahms followed traditions from Baroque and Classical music, and avoided using images and expressive titles in his music. Brahms extraordinarily intermingled earlier musical forms with multicolored tones of German Romanticism. In contrast, Schumann saw himself as a radical composer devoted to personal emotionalism and spontaneity. He favored programmatic titles for his character pieces and extra-musical references in his music. While developing their own musical styles as German Romantic composers, Schumann and Brahms both utilized the piano as a resourceful tool for self-realization and compositional development. To investigate and compare the main characteristics of Schumann and Brahms’s piano music, I looked at three genres. First, in the category of the piano concerto, I chose two major Romantic works, Schumann’s A minor concerto and Brahms’s B-flat major concerto. Second, for the category of piano variations I included two sets by Brahms because the variation framework was such an important vehicle for him to express his musical thoughts. Schumann’s unique motivic approach to variation is displayed vividly in his character-piece cycle Carnaval. Third, the category of the character piece, perhaps the favorite medium of Romantic expression at the piano, is shown by Schumann’s Papillons and Brahms’s sets of pieces Op.118 and Op.119. This performance dissertation consists of three recitals performed in the Gildenhorn Recital Hall at the University of Maryland, College Park. These recitals are documented on compact disc recordings that are housed within the University of Maryland Library System

The Effect Of The Relationships Between Affiliated Firms On Direction Of Income Shifting Within Business Groups

In this study, we examined how income shifting performs among affiliates in a business group to maximize the benefits of the entire business group in terms of minimizing the tax burden, with a particular focus on the direction of income shifting between affiliates within the business group. We find that tax-related decision-making for the entire business group is affected by the relationships between the affiliated firms, that is, the ownership structure of the whole business group. To analyze the ownership structure, we use centrality measures in a social network analysis. The results show that affiliates with the higher outdegree-centrality; that is, firms investing more shareholdings in other affiliates have a tendency to perform more income shifting. On the other hand, the affiliates with high indegree-centrality, that is, firms which are owned by other affiliates, were revealed to be given the income shifting from other affiliated firms to minimize the tax burden of the entire business group