The development of capital markets of new eu countries after the ifrs adoption

http://vsed.oneu.edu.uaFrom 2005, the EU listed companies are obliged to prepare their consolidated financial statements in conformity with IFRS, which are viewed as high-quality financial standards (Leuz, 2003). To comply with the increased disclosure requirements, companies have to incur significant costs. However, the benefits from harmonised financial reporting are available only to those entities, which have serious incentives to report transparently (Daske et al., 2013). The benefits and costs following the changeover to IFRS are therefore neither unfolded equally across companies, nor countries. Empirical research (e.g. Lee et al., 2008; Christensen et al., 2013) reveals that the shortcomings in institutional setting may close off all potential benefits from harmonised accounting, which is pertinent mainly for the transition countries. The aim of this paper is to identify absolute and relative winners and losers among the new EU member states in terms of the progression of their capital market. The particular focus is put on the capital market size measured by a simple criterion “the number of listed companies” and its changes in transitional and post-adoption period. The splitting of time-series into two subsets enables to eliminate the influence of different reporting incentives from the effects of change in reporting regime. As an unintended result, the paper’s empirical findings raise some doubts about the appropriateness of certain research designs for assessing the economic consequences of mandatory IFRS adoption

RISK MANAGEMENT AT TECHNICAL FACILITIES TYPE AND SITE SELECTION

Technical facilities are created by human activities, and their goal is to provide products or services for the humans´ lives. The technical facilities architecture is the object or the network. Each type of technical facility has its own specifics. Management of technical facilities´ safety is not easy and requires the application of specific engineering tools for coping with the expected risks. Due to complex architecture of majority of present technical facilities, their behaviours are sometimes unforeseeable, and therefore, special engineering tools need to be used at their type selection and sitting. In the past, the attention was not overly given to type selection and location of technical facility. Therefore, some technical facilities projects have not been completed, or after completing their operation have not met the expectations, or even they began to make serious problems, which meant substantial economic losses. Therefore, the book “Risk management at technical facilities type and site selection” deals with the problem of specification of the type of technical facilities and their location in the territory. It summarizes results of specific research performed in project “Řízení rizik a bezpečnost složitých technologických objektů (RIRIZIBE)“ CZ.02.2.69/0.0/0.0/ 16 _018/000”. Since, the deciding body on the subject is the public administration, they are compiled decision support and the risk management plan

RISK MANAGEMENT AT TECHNICAL FACILITIES DESIGNING, BUILDING AND COMMISSIONING

The publication subject is to show the risk management of complex technical facilities at a stage involving the design, construction, outfit by technology equipment, testing and commissioning. The safety of this technical facility is related to the entire technical facility because, as a result of the interconnections among different parts, the set of the safe parts is generally not safe. The safety also considers the dynamic evolution of the world. Therefore, it is going on managing the risks caused by all possible causes in time and space. Based on the original database of failures and accidents of technical facilities, which also included weaknesses in the area of design, building, construction, testing and commissioning, they are determined the basic categories of risk causes. Through the procedures of advanced risk disciplines, there are developed the tools for working with risks in the monitored stage of the technical facility aimed at ensuring the technical facility safety throughout its life time, namely: decision support system; and risk management plan. Both tools are in two versions. The book shortly summarizes results of specific research performed in project “Řízení rizik a bezpečnost složitých technologických objektů (RIRIZIBE)“ CZ.02.2.69/0.0 /0.0/16_018/000”. The detail results are in original Czech monograph, which is cited

Romanticism and Periodisation: A Roundtable

"‘Eternity is in love with the productions of time’. This original edited volume takes William Blake’s aphorism as a basis to explore how British Romantic literature creates its own sense of time. It considers Romantic poetry as embedded in and reflecting on the march of time, regarding it not merely as a reaction to the course of events between the late-eighteenth and mid-nineteenth centuries, but also as a form of creative engagement with history in the making. The authors offer a comprehensive overview of the question of time from a literary perspective, applying a diverse range of critical approaches to Romantic authors from William Blake and Percy Shelley to John Clare and Samuel Rodgers. Close readings uncover fresh insights into these authors and their works, including Frankenstein, the most familiar of Romantic texts. Revising current thinking about periodisation, the authors explore how the Romantic poetics of time bears witness to the ruptures and dislocations at work within chronological time. They consider an array of topics, such as ecological time, futurity, operatic time, or the a-temporality of Venice. As well as surveying the Romantic canon’s evolution over time, these essays approach it as a phenomenon unfolding across national borders. Romantic authors are compared with American or European counterparts including Beethoven, Irving, Nietzsche and Beckett. Romanticism and Time will be of great value to literary scholars and students working in Romantic Studies. It will be of further interest to philosophers and historians working on the connections between philosophy, history and literature during the nineteenth century.

Effects of blood parasite infections on spatiotemporal migration patterns and activity budgets in a long-distance migratory passerine

How blood parasite infections influence the migration of hosts remains a lively debated issue as past studies found negative, positive or no response to infections. This particularly applies to small birds, for which monitoring of detailed migration behaviour ovea whole annual cycle has been technically unachievable so far. Here, we investigate how bird migration is influenced by parasite infections. To this end, we tracked great reed warblers (Acrocephalus arundinaceus) with multi-sensor loggers, characterized general migration patterns as well as detailed flight bout durations, resting times and flight heights and related these to the genus and intensity of their avian haemosporidian infections. We found migration distances to be shorter and the onset of autumn migration to be delayed with increasing intensity of blood parasite infection, in particular for birds with Plasmodium and mixed-genus infections. Additionally, the durations of migratory flight bout were prolonged for infected compared to uninfected birds. But since severely infected birds and particularly birds with mixed genus infections had shorter resting times, initial delays seemed to be compensated for and the timing in other periods of the annual cycle was not compromised by infection. Overall, our multi-sensor logger approach revealed that avian blood parasites have mostly subtle effects on migratory performance and that effects can occur in specific periods of the year only

Quantum Critical Superfluid Flows and Anisotropic Domain Walls

We construct charged anisotropic AdS domain walls as solutions of a consistent truncation of type IIB string theory. These are a one-parameter family of solutions that flow to an AdS fixed point in the IR, exhibiting emergent conformal invariance and quantum criticality. They represent the zero-temperature limit of the holographic superfluids at finite superfluid velocity constructed in arXiv:1010.5777. We show that these domain walls exist only for velocities less than a critical value, agreeing in detail with a conjecture made there. We also comment about the IR limits of flows with velocities higher than this critical value, and point out an intriguing similarity between the phase diagrams of holographic superfluid flows and those of ordinary superconductors with imbalanced chemical potential.Comment: 11 pages, 3 figures. V2: Very minor corrections. JHEP versio

Type IIB Holographic Superfluid Flows

We construct fully backreacted holographic superfluid flow solutions in a five-dimensional theory that arises as a consistent truncation of low energy type IIB string theory. We construct a black hole with scalar and vector hair in this theory, and study the phase diagram. As expected, the superfluid phase ceases to exist for high enough superfluid velocity, but we show that the phase transition between normal and superfluid phases is always second order. We also analyze the zero temperature limit of these solutions. Interestingly, we find evidence that the emergent IR conformal symmetry of the zero-temperature domain wall is broken at high enough velocity.Comment: v3: Published version. Figures 5 and 6 corrected. 24 pages, 7 figure

Textile-Integrated Transmitting Unit

This contribution deals with the main parts of the textile-integrated transmitting unit, a transmitter and an antenna, operating in the ISM 5.8 GHz band. The transmitter is based on commercially available WLAN UART Serial Port OWS451 and it is controlled via the UART interface by microprocessor ATmega328. The antenna is based on the circular ring-slot concept and it is able to provide monopolar radiation pattern to ensure maximum coverage of the unit. The unit will be integrated in a seat cover and it will transmit the telemetry of sensors integrated in the seat (temperature, pressure…)

Proton-proton elastic scattering at the LHC energy of {\surd} = 7 TeV

Proton-proton elastic scattering has been measured by the TOTEM experiment at the CERN Large Hadron Collider at {\surd}s = 7 TeV in dedicated runs with the Roman Pot detectors placed as close as seven times the transverse beam size (sbeam) from the outgoing beams. After careful study of the accelerator optics and the detector alignment, |t|, the square of four-momentum transferred in the elastic scattering process, has been determined with an uncertainty of d t = 0.1GeV p|t|. In this letter, first results of the differential cross section are presented covering a |t|-range from 0.36 to 2.5GeV2. The differential cross-section in the range 0.36 < |t| < 0.47 GeV2 is described by an exponential with a slope parameter B = (23.6{\pm}0.5stat {\pm}0.4syst)GeV-2, followed by a significant diffractive minimum at |t| = (0.53{\pm}0.01stat{\pm}0.01syst)GeV2. For |t|-values larger than ~ 1.5GeV2, the cross-section exhibits a power law behaviour with an exponent of -7.8_\pm} 0.3stat{\pm}0.1syst. When compared to predictions based on the different available models, the data show a strong discriminative power despite the small t-range covered.Comment: 12pages, 5 figures, CERN preprin