THE MANAGEMENT OF THE COMPANY THROUGH DIVIDEND AND THE ETHICAL DIMENSION OF THE DECISIONS TAKEN IN ETHIS FIELD

The main objective of a company's shareholders is to increase its market value. Of course, they also wish, on a second level, to obtain dividends as big as possible from the investment they made. Just that the exacerbation of their wish to obtain substantial gains, especially when the dividends are distributed in the form of free shares, makes them overlook two regularities that exist in this field: the increase of dividends has to be continuous, and to not have big fluctuations, and the decisions taken in this field do not have to infringe on the self-regulatory capacity of the capital market.market value, shareholders, ethical decisions

TRUST - A FACTOR OF PRODUCTION

The economic activity is more and more influenced by the condition and the evolution of some immaterial and non-financial elements which exist in a firm or a country. One of these elements - information - has unanimously been accepted as the 4th production factor. In this paper I try to demonstrate that trust too, has to be accepted as a production factor. Especially as it fulfils the fundamental conditions for this to happen : it is infinitly divisible and homogeneous and, thus, its marginal product can be calculated. In nowadays world, characterized by the apparently unstoppable expansion of the cruel individualism and of market fundamentalism, which have undermined the trust in the success of private initiative, producers increasingly need community, need another mode of involvement of the state in economy and they need another way of relating to each other. The costs resulting from the diminishing of trust have become so significant that their transformation into income is necessary, if we succeed in basing ourselves on trust in the economic process.production factor

Triplets of Closely Embedded Hilbert Spaces

We obtain a general concept of triplet of Hilbert spaces with closed (unbounded) embeddings instead of continuous (bounded) ones. The construction starts with a positive selfadjoint operator $H$, that is called the Hamiltonian of the system, which is supposed to be one-to-one but may not have a bounded inverse, and for which a model is obtained. From this model we get the abstract concept and show that its basic properties are the same with those of the model. Existence and uniqueness results, as well as left-right symmetry, for these triplets of closely embedded Hilbert spaces are obtained. We motivate this abstract theory by a diversity of problems coming from homogeneous or weighted Sobolev spaces, Hilbert spaces of holomorphic functions, and weighted $L^2$ spaces. An application to weak solutions for a Dirichlet problem associated to a class of degenerate elliptic partial differential equations is presented. In this way, we propose a general method of proving the existence of weak solutions that avoids coercivity conditions and Poincar\'e-Sobolev type inequalities.Comment: 29 page

Asymptotic behavior of critical points of an energy involving a loop-well potential

We describe the asymptotic behavior of critical points of $\int_{\Omega} [(1/2)|\nabla u|^2+W(u)/\varepsilon^2]$ when $\varepsilon\to 0$. Here, $W$ is a Ginzburg-Landau type potential, vanishing on a simple closed curve $\Gamma$. Unlike the case of the standard Ginzburg-Landau potential $W(u)=(1-|u|^2)^2/4$, studied by Bethuel, Brezis and H\'elein, we do not assume any symmetry on $W$ or $\Gamma$. In order to overcome the difficulties due to the lack of symmetry, we develop new tools which might be of independent interest

Characterization of function spaces via low regularity mollifiers

Smoothness of a function $f:{\mathbb R}^n\to {\mathbb R}$ can be measured in terms of the rate of convergence of $f\ast\rho_\varepsilon$ to $f$, where $\rho$ is an appropriate mollifier. In the framework of fractional Sobolev spaces, we characterize the "appropriate" mollifiers. We also obtain sufficient conditions, close to being necessary, which ensure that $\rho$ is adapted to a given scale of spaces. Finally, we examine in detail the case where $\rho$ is a characteristic function

INTELLIGENT RISK MANAGEMENT - A NEW PRINCIPLE IN RISK MANAGEMENT BASED ON USING BI IN RM

The need for a system able to store information about the risks faced by the organization along its entire existence, the history of decisions on past risk management activities (along with an analysis of the implications of those decisions – “lessons learned”) and able to record and analyze business information from external environment and provide various patterns on the evolution of market phenomena is undeniable. Business intelligence does so. The practice of implementing a business intelligence system since the earliest days of a company’ life that would assimilate information and after that to deliver these to be used in the process of reducing the risks to which the organization is exposed may be considered a new rule of good business practice. Therefore, let us consider this practice a new principle in risk management, named the intelligent risk management.risk, BI, intelligence, approach, principle

Cuts in matchings of 3-connected cubic graphs

We discuss conjectures on Hamiltonicity in cubic graphs (Tait, Barnette, Tutte), on the dichromatic number of planar oriented graphs (Neumann-Lara), and on even graphs in digraphs whose contraction is strongly connected (Hochst\"attler). We show that all of them fit into the same framework related to cuts in matchings. This allows us to find a counterexample to the conjecture of Hochst\"attler and show that the conjecture of Neumann-Lara holds for all planar graphs on at most 26 vertices. Finally, we state a new conjecture on bipartite cubic oriented graphs, that naturally arises in this setting.Comment: 12 pages, 5 figures, 1 table. Improved expositio

Density in Ws,p(Ω;N)W^{s,p}(\Omega ; N)

Let $\Omega$ be a smooth bounded domain in ${\mathbb R}^n$, 0\textless{}s\textless{}\infty and 1\le p\textless{}\infty. We prove that $C^\infty(\overline\Omega\, ; {\mathbb S}^1)$ is dense in $W^{s,p}(\Omega ; {\mathbb S}^1)$ except when 1\le sp\textless{}2 and $n\ge 2$. The main ingredient is a new approximation method for $W^{s,p}$-maps when s\textless{}1. With 0\textless{}s\textless{}1, 1\le p\textless{}\infty and sp\textless{}n, $\Omega$ a ball, and $N$ a general compact connected manifold, we prove that $C^\infty(\overline\Omega \, ; N)$ is dense in $W^{s,p}(\Omega \, ; N)$ if and only if $\pi\_{[sp]}(N)=0$. This supplements analogous results obtained by Bethuel when $s=1$, and by Bousquet, Ponce and Van Schaftingen when $s=2,3,\ldots$ [General domains $\Omega$ have been treated by Hang and Lin when $s=1$; our approach allows to extend their result to s\textless{}1.] The case where s\textgreater{}1, $s\not\in{\mathbb N}$, is still open.Comment: To appear in J. Funct. Anal. 49

Existence of critical points with semi-stiff boundary conditions for singular perturbation problems in simply connected planar domains

Let $\Omega$ be a smooth bounded simply connected domain in $\mathbb{R}^2$. We investigate the existence of critical points of the energy $E_\varepsilon (u)=1/2\int_\Omega |\nabla u|^2+1/(4\varepsilon^2)\int_\Omega (1-|u|^2)^2$, where the complex map $u$ has modulus one and prescribed degree $d$ on the boundary. Under suitable nondegeneracy assumptions on $\Omega$, we prove existence of critical points for small $\varepsilon$. More can be said when the prescribed degree equals one. First, we obtain existence of critical points in domains close to a disc. Next, we prove that critical points exist in "most" of the domains