Suchergebnisse

Friedenskonsolidierung ist auch Aufgabe der Verfassungsgerichtsbarkeit. Im Nachkriegsbosnien kommen Verfassungsgericht und Menschenrechtskammer dabei eine Schlüsselrolle zu. Auch 15 Jahre nach Ende des bewaffneten Konflikts ist der Fortbestand des 1995 in Dayton geschaffenen komplexen Staatsgebildes nicht gesichert. Die Innen- wie Außenpolitik bleibt – befördert von den alten Eliten – geprägt von der fortbestehenden ethnischen Spaltung. Schlichtend, ausgleichend und legitimierend, mit einem Auge für die übergeordneten Ziele von Staat und Gesellschaft, wirken in diesem Kontext die gemischt national-international besetzten obersten Gerichte: Sie gewähren effektiven Grundrechtsschutz, fördern die nationale Integration im Vielvölkerstaat, schlichten Kompetenzstreitigkeiten in der Ethnokratie und legitimieren sowie kontrollieren internationale Intervention

Der Tourismus in der Arabischen Welt sieht sich nach dem 11. September 2001 schweren Krisen und strukturellen Veränderungen gegenüber. Doch mit welchen organisationalen Lernprozessen reagiert die Tourismuswirtschaft hierauf? Aus Perspektive einer Pragmatischen Geographie und anhand empirischer Studien in der transnationalen Hotelwirtschaft zeigt der Autor, wie Lernprozesse durch die sozio-kulturelle Einbettung und Wirklichkeitskonstruktion der Unternehmen gefördert oder begrenzt werden. Das Buch leistet damit einen empirisch fundierten Beitrag zur theoretisch-konzeptionellen Weiterentwicklung der Theorien organisationalen Lernens

This book is a guide to how financial steering is designed, measured and implemented with a special focus on the energy industry. The authors offer an overview of and practical insights into the links between financial steering and accounting, and the temporary cycles of investment, divestment, return and loss, market highs and lows that form the framework of the entire energy industry across all value chain stages. The faster and the larger the cash cycles of investments and their returns, the greater not only the value created, but also the potential loss if the financial steering is not properly designed and managed. Value and value generation require an understanding of how value is both defined and measured in both and how the business/project economics model of a company works - financial steering provides this. Further, the book also discusses accounting topics such as impairments, new IFRS standards and the impact of accounting on key performance indicators of financial steering, which are associated with these investment decision valuations. The combination of accounting with the cash flow perspective provides a complete understanding of selected practical topics of financial steering which are explained in detail in a large number of examples and case studies. The book is intended for a wide range of finance/controlling/treasury/accounting professionals and students. It is written in practical and simple terms to outline the financial steering concept and to bring it to life in daily work and in the decision making process for financial steering. All illustrated concepts are in the same manner relevant and applicable to all other asset-intense industry sectors and their financial steering processes.

This article contributes to the literature on macroeconomic announcements and their impact on asset prices by investigating how the 15-second Xetra DAX returns reflect the monthly announcements of the two best known business cycle forecasts for Germany, i.e. the ifo Business Climate Index and the ZEW Indicator of Economic Sentiment. From the methodological point of view, the main innovation lies in disentangling "good" macroeconomics news from "bad" news, and, simultaneously, considering time intervals with and without confounding announcements from other sources. Releases from both institutes lead to an immediate response of returns occurring 15 seconds after the announcements, i.e. within the first possible time interval. Announcements of both institutes are also clearly and immediately reflected in the volatility, which remains at a significantly higher level for approximately two minutes slightly elevated for approximately 15 minutes. Combining returns and volatility in a GARCH(1,1)-model, the paper reveals that significant increases in volatility only show up in the presence of simultaneous news released by other sources, whereas return reactions can be observed irrespective of whether confounding announcements are published or not. -- Event study ; announcement effect ; high-frequency data ; intraday data

La presente publicación es resultado de un proyecto de reflexión de largo plazo, los contenidos del Comentario a la Convención Americana sobre Derechos Humanos reflejan la jurisprudencia más relevante en la materia, hasta el segundo semestre de 2012

This article challenges claims that liberalising state regulated markets in developing countries may induce lasting economic development. The analysis of the rise of tourism in Egypt during the last three decades suggests that the effects of liberalisation and structural adjustment are constrained by the neo-patrimonial character of the Egyptian political system. Since the decline of oil rent revenues during the 1980s tourism development was the optimal strategy to compensate for the resulting fiscal losses. Increasing tourism revenues have helped in coping with macroeconomic imbalances and in avoiding more costly adjustment of traditional economic sectors. Additionally, they provided the private elite with opportunities to generate large profits. Therefore, sectoral transformations due to economic liberalisation in neo-patrimonial Rentier states should be described as a process, which has led to the diversification of external rent revenues, rather than to a general downsizing of the Rentier character of the economy. (GIGA)