276 research outputs found
Signals of foreign bank entry on real sector FDI and foreign trade and their impact on economic development in the New EU Member States
Does financial sector foreign direct investment (FSFDI) trigger general capital inflows and foreign trade? Do these inflows to New EU Member States (NMS) provide positive signals (Spence, 1973) towards economic development or crowd out investment and trade? While the direct impact of financial deepening has received much attention (Hasan, Wachtel, Zhou, 2006; Detragiache, Tressel, Gupta, 2006), indirect effects have received less consideration. To fill this gap, we review the literature on possible links and provide descriptive data for NMS. We apply regression analysis and find coherence between FSFDI and non-financial FDI and trade in Bulgaria and Croatia, but there are various directions in which developmental repercussions can go and the impact on trade is not as significant as the effect on nonfinancial FDI. We argue that the relative impact of FSFDI, real sector FDI and trade needs to be taken into consideration in shaping economic policies conducive to economic development. --foreign banks,economic development,foreign trade,FDI,signal theory
Einstein static universe as a brane in extra dimensions
We present a brane-world scenario in which two regions of space-time
are glued together along a 3-brane with constant positive curvature such that
{\em all} spatial dimensions form a compact manifold of topology . It
turns out that the induced geometry on the brane is given by Einstein's static
universe. It is possible to achieve an anisotropy of the manifold which allows
for a huge hierarchy between the size of the extra dimension and the size
of the observable universe at present. This anisotropy is also at the
origin of a very peculiar property of our model: the physical distance between
{\em any two points} on the brane is of the order of the size of the extra
dimension regardless of their distance measured with the use of the induced
metric on the brane. In an intermediate distance regime
gravity on the brane is shown to be effectively 4-dimensional, with
corresponding large distance corrections, in complete analogy with the
Randall-Sundrum II model. For very large distances we recover
gravity in Einstein's static universe. However, in contrast to the
Randall-Sundrum II model the difference in topology has the advantage of giving
rise to a geodesically complete space.Comment: 45 pages, 3 figure
Topological defects and gravity in theories with extra dimensions
Various solutions to higher-dimensional Einstein equations coupled to a
series of physically different sources are considered and their properties of
localization of gravity discussed. A numerical example of a solution to the
Einstein equations coupled to a set of scalar and gauge fields is given: a
3-brane realized as a 't Hooft-Polyakov monopole residing in a 7-dimensional
space-time. Finally we describe a model which resembles the Randall-Sundrum II
model with respect to its properties of gravity localization but with the
advantage that the underlying space-time manifold is geodesically complete.Comment: PhD thesi
Trust between Boundary-Spanning Agents: The Role of Relational Competencies
Against the background of principal-agent and transaction-cost theoretical considerations, this study addresses the question whether relational competencies relate to trust within cooperative relationships, taking into account also situational and personal factors. In its conclusion, the study presents an experimentally confirmed model (n = 282) that shows the strong causal relationship between relational competencies and trust allowing boundary-spanning agents to exert influence on the development and maintenance of complex cooperative relationships characterized by long-term objectives
Lâapproche nĂ©o-institutionnelle et ses implications pour le management des relations avec les stakeholders en phase start-up
Les approches nĂ©o-institutionnelles et surtout la thĂ©orie de lâagence et la thĂ©orie des coĂ»ts de transaction ont fait leurs preuves dans divers domaines (en marketing, en GRH, etc.). Cependant, jusquâĂ prĂ©sent, peu de recherches en crĂ©ation dâentreprise se sont appuyĂ©es sur ces approches. Le but de la prĂ©sente contribution est dâanalyser la crĂ©ation dâentreprise sous lâangle de la Nouvelle Ăconomie institutionnelle. Cet angle souligne le rĂŽle crucial de la relation stakeholder-crĂ©ateur. En effet, le succĂšs dâune jeune entreprise dĂ©pend directement de lâacceptation et du soutien des parties prenantes. Les relations dans la phase de crĂ©ation sont caractĂ©risĂ©es par des incertitudes particuliĂšrement fortes dues Ă la nouveautĂ© (liability of newness). Dans le processus dâĂ©valuation et de jugement de la relation dâĂ©change, le stakeholder est confrontĂ© Ă lâincertitude des promesses du crĂ©ateur dâentreprise ; ces incertitudes influencent la dĂ©cision du stakeholder dâentrer dans la relation dâĂ©change avec la jeune entreprise. Lâaptitude Ă gĂ©rer ces incertitudes augmente la probabilitĂ© de succĂšs du projet de crĂ©ation. Lâapproche MUT (Management of Uncertainties and Trust) que nous prĂ©senterons ici est un outil pragmatique et normatif qui a pour but de structurer et de rĂ©soudre la problĂ©matique dâincertitude. De cette façon, il peut favoriser le succĂšs de nouvelles entreprises en aidant lâentrepreneur Ă crĂ©er des relations stables avec les parties prenantes.Institutional Economics, especially the Principal-Agent Approach and Transaction Cost Economics, has proven of value in various disciplines (e.g. marketing, personnel management). However, so far they have hardly expanded into entrepreneurship research. In this paper, we strive to analyse the establishment of new ventures from the perspective of Institutional Economics. This highlights the decisive role of the relationship between the founder and the stakeholders. The success of a new venture strongly depends on the acceptance and the support of the stakeholders. At the same time, the relationships to the stakeholders are burdened with particularly high uncertainties, because of the âliability of newness.â When evaluating the offered transaction, the stakeholder is confronted by the founderâs insecure promises. These insecurities influence the potential stakeholdersâ decision whether or not to establish a transaction relationship with the newly founded company. With the rising capability to handle such insecurities, the success of the new venture becomes more likely. As a pragmatic-normative tool to structure and handle the insecurities identified, the MUT-Approach presented in this paper can foster the success of new ventures by helping the founder to establish stable relationships with stakeholders.Los enfoques de la EconomĂa Institucional, en particular la teorĂa del Agente-Principal y la de los costos de la transacciĂłn, han demostrado ser muy Ăștiles en diversas disciplinas (por ejemplo marketing, gestiĂłn de personal). Sin embargo, hasta ahora no se han ampliado tanto en la investigaciĂłn de la iniciativa empresarial. En este artĂculo nos esforzamos en analizar la creaciĂłn de nuevas empresas desde la perspectiva de la EconomĂa Institucional. Esto pone de relieve el papel decisivo de la relaciĂłn entre el fundador y los interesados. El Ă©xito de una nueva empresa depende en gran medida de la aceptaciĂłn y el apoyo de las partes interesadas. Al mismo tiempo, estas relaciones son particularmente cargadas de grandes incertidumbres debido a la novedad (liability of newness). Al evaluar la transacciĂłn ofrecida, el interesado es confrontado con las promesas inseguras del fundador. Estas inseguridades influyen en la decisiĂłn de las potenciales partes interesadas de establecer o no una relaciĂłn de intercambio con la reciĂ©n creada empresa. El Ă©xito de la nueva empresa se hace mĂĄs probable con el aumento de la capacidad de manejar esas inseguridades. El MUT-Enfoque (Management of Uncertainties and Trust) presentado en este documento es un instrumento pragmĂĄtico y normativo para estructurar y manejar el problema de las inseguridades identificadas. De esta forma puede favorecer el Ă©xito de nuevas empresas, ayudando al fundador a establecer relaciones estables con las partes interesadas.Die AnsĂ€tze der Institutional Economics insbesondere Prinzipal-Agent-Theorie und Transaktionskostentheorie haben sich in unterschiedlichsten Fachbereichen (z.B. Marketing, Personalmanagement, etc.) bewĂ€hrt. Haben. In der Entrepreneurship-Forschung haben diese AnsĂ€tze aber bislang wenig Eingang gefunden. Dieser Beitrag setzt sich zum Ziel, die UnternehmensgrĂŒndung aus der Perspektive der Institutional Economics zu analysieren. Dies eröffnet den Blick auf die erfolgskritische Rolle der Stakeholder-GrĂŒnder-Beziehung. Die Beziehungen in der GrĂŒndungsphase sind aufgrund der liability of newness mit besonders hohen Unsicherheiten behaftet. Mit der Kompetenz, die Unsicherheiten zu handhaben, steigt die Erfolgswahrscheinlichkeit der GrĂŒndung. Der hier prĂ€sentierte MUT-Ansatz (Management of Uncertaintites and Trust) ist ein pragmatisch-normativer Ansatz zur Strukturierung und Lösung der Unsicherheitsproblematik
Born-Infeld strings in brane worlds
We study Born-Infeld strings in a six dimensional brane world scenario
recently suggested by Giovannini, Meyer and Shaposhnikov (GMS). In the limit of
the Einstein-Abelian-Higgs model, we classify the solutions found by GMS.
Especially, we point out that the warped solutions, which lead to localisation
of gravity, are the - by the presence of the cosmological constant - deformed
inverted string solutions. Further, we construct the Born-Infeld analogues of
the anti-warped solutions and determine the domain of existence of these
solutions, while a analytic argument leads us to a "no-go" hypothesis:
solutions which localise gravity do NOT exist in a 6 dimensional
Einstein-Born-Infeld-Abelian-Higgs (EBIAH) brane world scenario. This latter
hypothesis is confirmed by our numerical results.Comment: 11 REVTEX4 pages, 5 EPS-figures; v1:references and new figure added;
Conclusions extended; Accepted for publication in Nucl. Phys.
Living Inside a Hedgehog: Higher-dimensional Solutions that Localize Gravity
We consider spherically symmetric higher-dimensional solutions of Einstein's
equations with a bulk cosmological constant and n transverse dimensions. In
contrast to the case of one or two extra dimensions we find no solutions that
localize gravity when , for strictly local topological defects. We
discuss global topological defects that lead to the localization of gravity and
estimate the corrections to Newton's law. We show that the introduction of a
bulk ``hedgehog'' magnetic field leads to a regular geometry and localizes
gravity on the 3-brane with either a positive, zero or negative bulk
cosmological constant. The corrections to Newton's law on the 3-brane are
parametrically the same as for the case of one transverse dimension.Comment: 15 pages, 1 figure, LaTeX; v2: references added, to appear in Phys.
Lett.
Pion-Kaon Scattering near the Threshold in Chiral SU(2) Perturbation Theory
In the context of chiral SU(2) perturbation theory, pion-kaon scattering is
analysed near the threshold to fourth chiral order. The scattering amplitude is
calculated both in the relativistic framework and by using an approach similar
to heavy baryon chiral perturbation theory. Both methods lead to equivalent
results. We obtain relations between threshold parameters, valid to fourth
chiral order, where all those combinations of low-energy constants which are
not associated with chiral-symmetry breaking terms drop out. The remaining
low-energy constants can be estimated using chiral SU(3) symmetry.
Unfortunately, the experimental information is not precise enough to test our
low-energy theorems.Comment: 38 pages, 5 figures, PhD Thesis, references adde
- âŠ