ABOUT RISK PROCESS ESTIMATION TECHNIQUES EMPLOYED BY A VIRTUAL ORGANIZATION WHICH IS DIRECTED TOWARDS THE INSURANCE BUSINESS

In a virtual organization directed on the insurance business, the estimations of the risk process and of the ruin probability are important concerns: for researchers, at the theoretical level, and for the management of the company, as these influence the insurer strategy. We consider the evolution over an extended period of time of the insurer surplus process. In this paper, we present some methods for the estimation of the ruin probability and for the evaluation of a reserve fund. We discuss the ruin probability with respect to: the parameters of the individual claim distribution, the load factor of premiums and the intensity parameter of the number of claims process. We analyze the model in which the premiums are computed according to the mean value principle. Also, we attempt the case when the initial capital is proportional to the expected value of the individual claim. We give numerical illustration.virtual organization, ruin probability, risk process, adjustment coefficient

The capitalization of banks during crisis

The experience of current crisis has proved the importance of banks adequacy capital. The control of banks capitalization has become one of the priorities of the regulatory authorities, and thus, capital rules will become increasingly stringent, and their compliance will be closely monitored, which may lead us to think of a banking system consolidation, banks being prepared to a possible worsening of economic conditions in the future.banks capitalization, bank adequacy capital, financial crisis

COMPUTER AIDED DESIGN IN URBAN ARHITECTURE 3D MODELING

The gap from the PC made sketches with the help of the china ink pen and ruler to the digitised drawing boards, high diagonal monitors and 3D projecting is truly spectacular. The increasingly efficient and more specialized programs allow the architects a whole range of facilities providing drawing commands and changes very easy to use, automatic rating, operating simultaneously in multiple windows, building sections and extracts of the plan, 3D views design and even projecting in virtual reality. Applications made to date using virtual reality technologies are characterized, essentially, by generating artificial world and immerging the user into this world. Evolution and effectiveness of such systems are conditioned, first, by the increased hardware performance (computers and specialized devices for interaction) so as to ensure a full immersion of man in the virtual world and, implicitly, a real-time communication with him.Computer aided design, Architecture, C# interface, urban 3D modeling, urban design. Journal: Theoretical and Empirical Researches in Urban Management

En busca de la belleza, entre espejismo(s) y eficacia(s). El impacto de la publicidad para productos cosméticos adelgazantes: El rol moderador de las estrategias de comparación social

The article discusses how media discourse, particularly advertisers, build some imaginary on the body that, from a psychosocial perspective, have an impact on the way audiences perceive their own physicality. Through the examination of a case-about the construction of female body image-there are examinetes the social comparison strategies deployed about these body media models and how these definitions affect gender identity and female audiences.    El artículo discute el modo en que los discursos mediáticos, especialmente los publicitarios, construyen ciertos imaginarios sobre el cuerpo que, desde una perspectiva psicosocial, tienen impacto en el modo como las audiencias perciben su propia corporalidad. A través del examen de un caso -sobre la construcción de la imagen del cuerpo femenino -se examinan las estrategias de comparación social desplegadas a propósito de estos modelos mediáticos de cuerpo y cómo estos inciden en las definiciones identitarias y de género de las audiencias femeninas

PROMOTING PRIVATE EQUITY FUNDS

The recently development of the capital market intensified the investors attraction toward profit opportunities. The involvement on the capital market has become a widely used activity among all investors regardless their financial power. This has led to diversifying of the capital market, and also to a specialization and hybridization of the financial instruments traded. Whereas, investment funds are considered intermediaries between investors and investees, they can be promoted in relation with their funding and investment activities involving the investors and certain target companies (also known as portfolio companies or investee companies).In addition to the traditional ways of promoting investment funds (i.e. direct selling, printed publications, advertisements and straplines, public relations actions) can be identified other particular methods in promoting their activity (fund raising, investing and financing) by using business angels and netpreneurs. Therefore, this paper presents the importance of promoting investment funds in relation to all the participants involved.private equity, investmen funds,promoting,business angels,netpreneurs

THE COMPETITIVE ADVANTAGE OF ROMANIA IN THE CONTEXT OF ECONOMIC RECOVERY

The economic crisis has given the opportunity for the world to reconsider the use of resources, so the subject of competitive advantage has became actual. There are several relevant papers on national competitiveness, but we consider that there are still important issues to discuss in order to identify the economic sectors in Romania that have the potential to create successful products for the global market. The paper applies modern competitivity models on the features of our country, and concludes about the best use of our resources, in terms of increased productivity and optimal results. The goal is to encourage exporters to extend on several international markets and multinational companies to invest in developing new businesses in Romania.competitive advantage, resources, economic recovery

Costing systems design for sustainability

The aim of this article is to present an overall image of the way Accounting responds to nowadays user’s needs in relation to the quantification of the impact companies have towards the environment. Regarding this, there have been analyzed concepts like sustainable development, environmental accounting, environmental costs and there have been presented the main progress towards environmental cost identification and measurement from the perspective of Activity Based Costing system. To provide an overall image of this concepts, there have been used as research methodology methods the documentation from literature review, analysis, synthesis and comparison

Shareholder Exit Signs on American and European Highways: Under Construction

This article discusses legal exit rights (referred to in the United States as appraisal rights and in civil law Europe as withdrawal rights), in the United States, France, and Romania. We selected these three countries because they are representative of strong, average, and weak capital markets, respectively, with varying levels of shareholder activism and litigation (high, normal, and low, respectively). In addition, the selection of these countries enabled us to compare the structure of legal exit rights in the United States and in Europe and, within Europe, between two politically, economically, and culturally sister countries (France and Romania) that nevertheless (and for no good reason) fundamentally diverge with respect to legal exit rights. Until recently, this topic had not received much attention in literature or in practice. Now, in all three countries, it is raising passionate debates, albeit for different reasons, and we observed a recent and significant increase in the exercise of legal exit rights. In the United States, a phenomenon of appraisal activism has emerged, led by specialized and aggressive hedge funds. In France, shareholder activism, in general, is on the rise, and new regulations or proposals pertaining to legal exit rights have recently been adopted or are currently being debated. In Romania, the second most important market was recently dissolved, a situation that has triggered legal exit rights at hundreds of public companies. The scope and procedures applicable to the exercise of legal exit rights differ greatly in the three countries analyzed. That was easy to conclude. While comparative law scholarship often has a tendency to emphasize differences between jurisdictions, we join an emerging trend in comparative law scholarship by choosing to focus on similarities. Consequently, the more difficult part of our analysis was to bring together, under an umbrella of common terminology and concepts, very different institutions, having separate sources and historical backgrounds. We offer a common language and a general analytical framework for legal exit rights, from the pragmatic perspective of current practitioners in each of the countries surveyed. In doing so, a certain extent of deliberate imprecision and generalization was unavoidable. At the end of this process, and within the analytical framework created, we found that numerous similarities in the regulation of legal exit rights exist in these three countries. We explored the identified similarities, which should allow each country to benefit from the experience of the others. In particular, our analysis indicates that the scope of legal exit rights for public companies is not correlated to the strength of the capital markets, and that shareholders are granted a broader scope of legal exit rights in private companies than in public companies (with the exception of France). It also indicates that there is extreme variation regarding exit rights for limited liability companies (almost exclusively contractual in the United States and France, while broad legal exit rights exist in Romania), and that there is generally less state intervention and more contractual freedom regarding the determination of the fair price with respect to companies other than joint stock companies. Moreover, it indicates that the frequency of use of legal exit rights is not proportional to the level of shareholder litigation