Achieving Portfolio Diversification through Cryptocurrencies in European Markets

Background: Cryptocurrencies represent a specific technological innovation in financial markets that keeps getting more and more popular among investors around the world. Given the specific characteristics of the cryptocurrencies, this paper examines the possibility of their use as a diversification instrument. Objectives: This paper examines the direction and strength of the relationship between the selected cryptocurrencies and important financial indicators on the European Union market. Since cryptocurrencies are a novelty in the financial system, the empirical literature in this area is rather scarce. Methods/Approach: In order to assess diversification properties of cryptocurrencies for European traders, a comprehensive econometric analysis was carried out. The first part of the analysis refers to the estimation of the multivariate Generalized Autoregressive Conditional Heteroskedasticity (GARCH) model, whereas the second part focuses on wavelet transforms. Results: Bitcoin and Ripple proved as a possible diversification instrument on most of the observed European markets since corresponding coefficients of unconditional correlation are negative. Conclusions: The relationship between the value of the cryptocurrencies and selected indices is generally very weak and slightly negative, indicating that some cryptocurrencies can serve as a means of diversification. However, investors need to take into account the extreme volatility, exhibited in all existing cryptocurrencies

Metoda prostornog brandinga - Utjecaj arhitektonsko-urbanističkih zahvata na konkurentni identitet mjesta; Doktorska disertacija [sažetak]

Predmet doktorskog istraživanja jest utjecaj arhitektonsko­urbanističkih zahvata, kao sustava pojedinačnih prostornih identiteta, na konkurentni identitet mjesta. Konkurentni identitet mjesta predstavlja skup željenih značajki koje pojedinome mjestu omogućavaju pozitivno pozicioniranje u svijesti korisnika pretvarajući identitet u konkurentnu i vrijednu nematerijalnu imovinu. Postavljanjem i razradom znanstvene metode prostornog brandinga pridonosi se jačanju konkurentnog identiteta mjesta. Utvrđeni su kriteriji za vrjednovanje i kreiranje pojedinačnih prostornih identiteta, te su utvrđeni i vrjednovani čimbenici utjecaja arhitektonsko­urbanističkih zahvata, kao pojedinačnih prostornih identiteta, na konkurentni identitet mjesta. Zaključno, ovim se istraživanjem uspostavlja metodologija primjerena za implementaciju rezultata istraživanja u postupke razvojnoga strateškog programiranja i prostornog planiranja s ciljem jačanja konkurentnog identiteta mjesta, čime je ostvaren i izvorni znanstveni doprinos

Changes in wedding customs in Gornja Poljica in the hinterland of Split, Croatia, in the last hundred years

Aim: To examine how wedding customs have acquired unwritten rules over time and how much they have changed in the last hundred years. Methods: Semi-structured interviews with three respondents from Gornja Poljica (Split city hinterland) and a secondary analysis of sources with the aim of analyzing the course and customs of weddings over three generations in Gornja Poljica. Results: As in the past, there is a wedding procedure consisting of the gathering of wedding guests, the pick-up of the bride at her home, the wedding ceremony, the celebration, and the visit of the bride’s family to her new home. The new customs are a bachelorette party, a garter toss, a wedding cake and wearing a wedding dress all night. Of 28 customs from 100 years ago, nine (one-third) have disappeared, the wedding day has been changed from Monday to Saturday, the ceremony has been shortened from three days to one, the number of wedding guests has been increased, and the bachelorette party has been introduced. Conclusion: From the narratives, it appears that the wedding ceremony is primarily a personal event, one of the most important in the life of the bride and groom, especially for the woman, for whom it represents a permanent change in family and social status. Until the 1950s, women were more passive in the role of bride than they are today. Through the process of women’s emancipation, globalization and the possibility of free choice, the values and practice of marriage itself have changed

Synthesis and properties of ibuprofen

Ibuprofen predstavlja nesteroidni protuupalni lijek, NSAID (engl. non-steroidal anti-inflammatory drug), koji je komercijaliziran krajem šezdesetih i početkom sedamdesetih godina dvadesetog stoljeća. Iako je struktura ibuprofena relativno jednostavna, postoji više načina njegove sinteze, kako na industrijskoj, tako i na laboratorijskoj skali. Prvi način dobivanja ibuprofena patentirala je Boots kompanija. Bootsova sinteza ibuprofena polazi od izobutilbenzena, a sastoji se od šest sintetskih koraka uz prinos produkta od 40 %. Drugi način dobivanja ibuprofena razvila je Hoechst Celanese kompanija devedesetih godina dvadesetog stoljeća. Njihova sinteza također polazi od izobutilbenzena, ali sastoji se od samo tri sintetska koraka te daje prinos produkta od 77 %. Taj postotak se povećava na 99 % ako se uzme u obzir i regeneriranje određenih sporednih produkata reakcije. Osim na industrijskoj skali, poznate su sinteze ibuprofena koje je moguće jednostavno provesti u bilo kojem sintetskom organskom laboratoriju, pa i kao vježbu u studentskom laboratoriju. U strukturi ibuprofena jedan je ugljikov atom kiralan te stoga postoje dva enantiomera ibuprofena. S-(+)-ibuprofen predstavlja aktivni oblik ibuprofena, dok je R-(-)-ibuprofen neaktivni oblik koji nije otrovan. Ljudsko tijelo u svom metabolizmu prevodi R-(-)-ibuprofen u aktivni S-(+)-ibuprofen. Postoje različiti postupci enantioselektivne sinteze S-(+)-ibuprofena, ali oni nemaju komercijalni značaj zato što su puno skuplji i kompliciraniji. Ibuprofen se prodaje kao racemična smjesa ili kao ibuprofen lizin. Ibuprofen lizin predstavlja sol ibuprofena koja ima veću topljivost u vodi od čistog ibuprofena. Time je omogućena intravenozna upotreba ibuprofena čime je smanjena potrebna doza i vrijeme apsorpcije lijeka. Od svih NSAID lijekova, kod ibuprofena se najmanje javljaju neželjene nuspojave te ga to čini lijekom s najvećom proizvodnjom i upotrebom u skupini lijekova koji se koriste za tretiranje simptoma bolova, upale i groznice

The “Europeanization” of Secessionist Programs: A Study of Montenegro and Catalonia

In 2006, the EU encouraged, facilitated and supervised the secession referendum of Montenegro. In 2014, the EU officials refused to facilitate a similar referendum in its member state Spain, and have so far denied any claims that Catalonia, when independent, would retain its membership of the EU. The paper argues that the EU policy towards secession referenda significantly affected the outcome of secessionist mobilization in these two cases.In spite of these sharp differences in the EU response, secessionist programs in both countries were ‘Europeanised’ in a similar way: in Montenegro, secession was aiming to facilitate the EU accession, and in Catalonia, to increase the benefits of retained EU membership. This paper explores the political and demographic context of the Europeanisation of secessionist programs.The majority of citizens in Catalonia and Montenegro do not identify as Catalan or Montenegrin only. The paper argues that the Europeanization of secessionist programs was, in part, an attempt to widen the appeal of secession to those who are not only Catalan or only Montenegrin

CROMAC: Center for Testing, Development and Training

Having established the mine action program in Croatia, the Croatian Mine Action Center (CROMAC) created conditions to engage not only in the organization and execution of demining operations, but also in research, development and improvement of mine action techniques, technology, and methods; testing of demining machines; and testing of mine detection dogs (MDDs) and handlers, testing and field evaluation of modern technologies, training, and providing professional assistance within the region and beyond

Potentials of Children’s Literature in Class

This is a book report of "Thinking through Children’s Literature in the Classroom" which was edited by Agustín Reyes-Torres, Luis S. Villacañas-de-Castro and Betlem Soler-Pardo. The book is a collection of research papers which addresses a variety of issues concerning children’s reading and education. It explores, both theoretically and practically, the boundaries of teaching, education and children’s literature