Academic Journal of Business, Administration, Law and Social Sciences

International Institute For Private Commercial And Competition Law (IIPCCL)
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Latest documents

  • Impact of Public Debt on the Economy in the Republic of Kosovo - Empirical Evidence

    In addition to the various economic policies that governments use to achieve economic objectives and increase social welfare, public debt as a source of fi nancing of the state budget is also used by governments of diff erent countries. However, other macroeconomic indicators have a tremendous role to play in determining the level of short-term and long-term debt or the share of domestic debt and external debt. The aim of this paper is to investigate the impact of public debt on the economy of the Republic of Kosovo, using secondary annual data from 2009- 2019. Data analysis was performed using multiple regression OLS (Ordinary Least Square). The results of the analysis confi rm that public debt has a positive but statistically insignifi cant impact on the country's economy. Total debt also has a low positive correlation with GDP. This research will also analysis the theoretical and empirical literature related to public debt. In order for the eff ect of public debt to be higher on the economy and increase social welfare, the government must use these funds productively to fi nance various investment projects. Keywords: Public debt, external and internal public debt, short-term and long-term debt, budget defi cit, economic growth

  • Development of Administrative Capacity and Regional Policy EU funds for touristic sector in post crisis

    This paper research provides an overview of European Structural and Investment Funds and Cohesion Policy in light of current trends in public investment. It highlights the importance of quality governance practices and administrative capacity in optimising public investment, and underscores the importance of strong administrative capacity among Managing Authorities in order to boost the eff ectiveness of European Structural and Investment Funds investment. It concludes with a description of the OECD diagnostic framework developed to support administrative capacity building in the context of managing EU funds under Cohesion Policy. Albania, one of the smallest countries in Eastern Europe, has experienced a period of transition marked by sharp economic swings and periods of civil strife. The early phases of decentralization witnessed the transfer of political autonomy, limited administrative and fi scal authority to local governments, inadequate legislation outlining central/local responsibilities, scarce fi nancial resources and developing ITC projects to mange touristic services. In January 2006, the government promulgated a national Strategy for the Decentralization and the Local Autonomy which included laws to strengthen the autonomy of local governments and increase their capacity to manage local infrastructure and services. The Albania Government has in its focus issues related to tourism. Keywords: Socio-demographic, Big push theory, Internet use, Touristic models, Decision making, SWOT analyse, EU Regional Policy, EU Structural Funds

  • Examining corporate social responsibility of multinational corporations: The validity of international guidelines

    This paper will begin with a discussion of the concept of Corporate Social Responsibility, what it entails and the inapplication of the concept to cross-border issues. Secondly, the discussion will lead into an analysis of Multinational Corporate Entities, focusing on ways in which the parent company can be held liable in the courts of the home state. The Corporate Social Responsibility (CSR) concept presents not only a picture of theories but also a number of approaches, which are disputable, vague, complex and ambiguous. This article critically analysis the concept of CSR in relation to the liability of Multinational Corporate Entities. By examining the main CSR hypothesis and related approaches under four pillars:(a) are corporations only interested in wealth creation (b) are there enforceable laws or guidelines under OECD and International Law as to establish liability of corporations(c) can Multinational Corporate Entities be held criminally liable (d) moral theories, based on ethical responsibilities of corporations to society. Multinational Corporate Entities operate in what has been described as "a vacuum between ineff ective national laws and non-existent or unenforceable international laws". (Corporate Social Responsibility Human Rights and the Law, Amao Olufemi,2011) Under International Law the MCEs are narrowly recognized and usually not directly bound by International Law. The eff ort as to the way MNEs operate with regard to Corporate Social Responsibility have resulted in soft laws and/or self-regulation. Moreover, it is imperative to address the role of MNEs in developing countries in relation to the pivotal impact in their economies. The need for such economic injections has overlooked the necessary steps that such corporations are required under soft laws or international guidelines to follow. Governments should not believe that they are helping businesses by failing to provide adequate directions or instructions as to human rights impact of corporate activities. All states have a legal obligation to protect human rights. As the concept of CSR has been evolving so has the criticism. It is from an economic perspective that CSR has been criticized for being vague in its aims set for itself and alienating Foreign Direct Investment from developing countries which economies greatly rely on as to the quality of life for their citizens. While from a legal dimension of CSR considers the concept as a means of accommodating legal changes to accomplish CSR objectives. Keywords: Corporate, Social, Responsibility, Entities

  • Grounds for sett ing aside award under Kosovo Arbitration Law in comparative perspective

    This paper is concerned with the grounds for sett ing aside award according to Kosovo Arbitration Law (hereinaft er: KAL) comparing with UNCITRAL Model Law (hereinaft er: Model Law). In particular, this paper will review only the grounds for sett ing aside award under the KAL that diff er in relation to the Model Law. Further, the paper will assess, analyze and interpret KAL provisions of article 36 and compare with article 34 of the Model Law. Furthermore, the KAL provisions will be comparing with the legislations of the Model Law countries and non- Model Law countries with respect to the grounds for sett ing aside award. The purpose of this study is to explain, examine, analyze, interpret and compare provisions that stipulate grounds for sett ing aside award according to KAL and identify existing diff erence in the KAL with Model Law. The diff erences between article 36 of the KAL and article 34 of the Model Law reads as follow: a) Title of article 36 of the KAL; b) Obligation of Court; c) Excess by arbitrator of his authority; d) Defects in both composition of arbitral tribunal and arbitral procedure; e) Arbitrability; f) Time limitations for sett ing aside award; g) Remission procedure; It can be concluded that grounds for sett ing aside award according to Kosovo Arbitration Law are partially compliant to the grounds for sett ing aside award based on the Model Law. Keywords: arbitration, grounds for sett ing aside award, diff erence, Kosovo Arbitration Law, UNCITRAL Model Law

  • Blake and the diversity of influences over his poetry

    William Blake's poetry falls into three main categories. First, there are the lyrics, of which the most important ones are the Songs of Innocence and Songs of Experience. In this category we fi nd the earlier poems included in the Poetical Sketches (1769-78), many of which are indeed experiments in which Blake partially imitates earlier writers such as Shakespeare and others. Some manuscripts can be included in the fi rst category, such as ‘Pickering Manuscript', ‘The Mental Traveller', ‘The Crystal Cabinet', which are essential to understand Blake's developing mythology. In the second category or group of poems we have the short prophecies which include: "Tiriel" (1789), "The Book of Thel" (1789), "The Marriage of Heaven and Hell" (1790-1793), "The Visions of the Daughters of Albion" (1793), "America" (1793), "The Book of Urizen" (1794), etc., which build up a mythology created by Blake in regard to the creation of the world and the nature of God. These "short prophecy" books should be read in conjunction with the historical events and the background of the eighteenth century and the early years of the nineteenth century. Therefore, they are very complex works, which need to be read at mythological, historical and psychological levels and above all as works of art in their own right. In the third category or group of poems we have the long propheciesthat include "The Four Zoas" (1795-1804), "Milton" (1804-1808) and "Jerusalem". Writing them in epic form, Blake strove to provide an account of the human history from its beginnings to his day. William Blake was widely infl uenced by the Swedish visionary and religious thinker, Emanuel Swedenborg, by the German mystic Jakob Böhme, as well as the esoteric doctrine of Rosicrucianism 1, which had had its adherents in England since Robert Fludd. Blake was infl uenced by mystical and magical ideas, and since Blake was himself a visionary, his ideas oft en times came in the form of clearly visualized encounters with angels, prophets or other symbolic characters. Blake's poems and prophetic books, except for his fi rst volume of poems, Poetical Sketches, were etched by himself on copper plates with decorative designs. He was an engraver by profession, and his work as a poet and prophet was litt le known during his lifetime. 2 Keywords: William Blake, diversity, poetry

  • An introduction to Hamlet's problem

    Hamlet, the famous tragedy by William Shakespeare is undoubtedly one of the greatest plays ever writt en in English language and one of the most prominent literary works of all world literature. For centuries, readers, critics and scholars alike have been fascinated by the enigmatic and mysterious character of Prince Hamlet, the play's protagonist. They have been trying to fi nd the answer to the most puzzling question regarding Hamlet: Why does not the Prince kill Claudius right away avenging thus his father's death? - otherwise known as Hamlet's problem. For that purpose, many theories have been developed and many solutions have been elaborated by the brightest people the world has ever known. This article att empts to address the issue of Hamlet's problem by introducing several critical interpretations provided by the best literary minds the world has ever known and modestly endeavors to unfold the perspective of its author regarding this topic. Keywords: murder, revenge, suicide, insanity, Hamlet's problem

  • Incentive Issues Underlying the Budget Process in Albania

    Albania has been reforming its policy, planning and budgeting systems since the end of communism and now, in principle, has sound public expenditure management (PEM) systems and procedures within an Integrated Planning System (IPS). In practice, the PEM system has yet to operate fully as intended. Such reforms take time to implement properly, especially where incentives to implement remain weak or perverse. The 1998 Organic Budget Law created an enabling framework for the budget process that permitt ed, but did not explicitly require, an output focussed system based on medium term planning. Formal rules and regulations explicitly requiring such a system now exist (under the Law on Management of the Budgetary System (LMBS)) but the budget process continues to have weak planning during budget preparation and retains excessive fl exibility during budget implementation. There is a vicious circle: weak planning leads to chaotic budget implementation which requires excessive fl exibility in execution to compensate; the fl exibility in practice is a key disincentive for implementation of the intended PEM system. It also produces an opaque policy, planning and budgeting process. There are four categories of incentives infl uencing the extent and pace of achievement of the ideal system: Political commitment to implementing the ideal system. Civil service commitment to implementing the ideal system. The ability of both the political and technical strata to manage the change from the emerging system to implementation of the ideal system. External infl uences on the implementation of the ideal system. The Integrated Planning System is a sound one. If applied as intended PEM performance will be strong. Some of the incentives for application are weak. The IPS design includes the means of strengthening most of these incentives so continued implementation should bring positive results in PEM performance. The IPS design does not deal with the detail of performance management incentives (job descriptions and organisation missions refl ecting service delivery performance measurement, career development, personal performance appraisal) and these need particular intention. The critical incentives are those for good management not just good budgeting. Good management will deliver good budgeting. Keywords: Incentive Issues, Budget Process, Albania

  • Basic concepts of quality and standards

    The basic principle that products and services must meet the basic requirements of users, led to the realization that the specifi cations that defi ne the product does not guarantee that the product will really achieve the required quality. The comparison between revenues and expenditures is the main form of business accounting and provides evidence of profi tability. The business owner or manager can not have a full understanding of the basic information needed to conduct successful corporate operations without proper use of statistics. Before you start with a new business (start-up) you should prepare a feasibility study and business plan for banks and potential investors in order to secure funding. Statistical methods and techniques are scientifi cally based methods and more important in sett ing the scientifi c and working hypothesis in planning and experimental research (computer simulation), processing and presentation of the obtained data and making statistical conclusion from this research. Keywords: Basic concepts, quality, standards

  • Real Exchange Rate and Foreign Trade Relationship: The Case of Hungary

    Hungary's foreign trade has scored progress in recent years. The result of this progress has brought a positive eff ect on the country's trade defi cit. This situation also raised the question of whether foreign trade is aff ected by exchange rates. The purpose of this study is to evaluate the factors aff ecting the real exchange rate in Hungary from 1995 to 2020. In this study, the Granger causality analysis is used to measure the eff ects of macroeconomic factors on the real exchange rate. This study considers macroeconomic factors like exports and imports. Data of the study have been collected from the World Bank. The results show that there is a signifi cant and positive eff ect of exports on real exchange rate. Also, there is a bidirectional causality relationship from exports to imports. Keywords: real exchange rate, exports and imports

  • The Impact of Leadership Styles on Motivating Corporate Employees in Kosovo

    Leadership is the most important factor in business development, refers to the perceptions and expectations of group members in achieving the objectives of any private or public organization, organizational culture aff ects leadership as much as leadership aff ects organizational culture. In this regard, this study tries to refl ect the impact of leadership styles on the motivation of corporate employees in Kosovo. This study att empts to analyze the perception of corporate employees about motivation being infl uenced by leadership styles, in relation to motivation factors and how it relates to leadership styles. The study is based on four leadership styles, which refl ect their eff ect on the motivation of corporate employees in Kosovo. The research data collection is primary, conducted through a structured questionnaire, with a sample size of 391 respondents. The research results are based on the highly variable linear econometric model, and based on the research results the 4 leadership styles Classical leadership, Transactional leadership, Visionary leadership, and Organic leadership have had a positive impact on the motivation of corporate employees in Kosovo. Keywords: Leadership styles, Motivation, Corporate, Kosovo

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