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Fan, K., & Wang, R. (2017). Valuation of correlation options under a stochastic interest rate model with regime switching. Frontiers of Mathematics in China, 12(5), 1113‑1130. doi: 10.1007/s11464
The transfer market of European football can be classified as a system. In this system, the effectiveness of participant teams can depend on the activity in players’ transfers. This article assesses the utility of network analysis in analysing connections between the mentioned concepts. The hypothesis is that there is causality between a club’s activity in the transfer market and its profit from transfers. This research is based on empirical transfer data of major soccer teams, which have had a significant role in the last 12 years in Europe. It is assumed that the most active clubs in the transfer system have more financial power in the transfer market, while teams which are not active in transfers have less profit from transfers. In the network analysis, the teams can be defined as a set of nodes and connected by edges (interactions). The thickness of the edges and the size of the nodes depend on the volume of transfers among clubs. The number of interactions and the amount of the transfer price can measure this volume also. Considering the results of network indices, the relationships between the two phenomena were reviewed. In order to explore these relationships, the correlations among all of the relevant variables in the transfer market were also measured.
Ana Pavković, Mihovil Anđelinović and Ivan Pavković
.cfm?abstract_id=2408997 (18 August 2018).
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Background: In most countries, data on migration refer only to flows between administratively or statistically defined zones that are changing over time. When different numbers, sizes, and shapes of areas are chosen for analysis of internal migration, different results are generated. This problem is recognised as the Modifiable Areal Unit Problem (MAUP).
Objectives: The paper analyses the impact of inter-municipal migration on population redistribution in Slovenia in 2000–2014 by considering the MAUP. Namely, the number of analysed municipalities increased by 19 in the considered period.
Methods/Approach: We analysed the MAUP effects and estimated internal migration statistics by producing a large number of aggregations using the IMAGE Studio software.
Results: Several statistics that measure the direction and pace of population concentration, as well as the correlation between measures of migration intensity and national development, have been calculated.
Conclusions: The results for Slovenia show that the migration efficiency decreases with the development process measured by the human development index.
Background: It is believed that social responsibility, the value that is strongly involved in the contemporary corporate behaviour, has also become the core value for public relations practitioners and their associations. However, there are ethical doubts concerning the question to whom a PR practitioner is actually responsible (or loyal) in the first place: to the client, the employer, the public, or society in general?
Objectives: This research aims to describe how social responsibility is articulated in the documents that can be considered as the crown of public relations ethics – the codes of ethics – and additionally, how the value of loyalty corresponds to the value of social responsibility.
Methods/Approach: The research is based on the content analyses of 13 codes of ethics that are delivered by 18 public relations associations at the international and the national level in the USA and the European Union.
Results: Although the phrase “social responsibility” is not mentioned in codes directly, the value of social responsibility is present in very diverse ways. When the value of loyalty came into the correlation with social responsibility, the research has shown that these values exist as a separate principle.
Conclusions: The public relations are a profession that tends to be socially responsible and tends to show that loyalty to clients and organizations is subordinated to public and social responsibility. Thus, the codes show that contemporary public relations, at least at the normative level, approach the two-way symmetric model and mostly promote “idealistic social role” of public relations.
This research is designed to examine the relationship between the capital structure and profitability of non-financial firms in Bosnia and Herzegovina during the ten years period, from 2003-2012. The goal is to prove the existence of the relationship between the firm’s capital structure choice and its profitability. The analysis is extended by including the debt structure and differentiating between the types of debt such as the long-term and the short-term ones. Canonical correlation and multiple regression analysis are used. The results of the multivariate canonical correlation analysis provide support to a hypothesis that the capital structure and profitability have statistically significant relationships. Furthermore, the findings provide support that firms develop different patterns of profitability depending on the capital structure choice. We found that an increasing proportion of short-term debt and long-term debt in the overall liability of the firm reduces its profitability.
In this research, the impact of total early-stage entrepreneurial activity and competitiveness of the economy on the real gross domestic product (GDP) per capita is analyzed in a cross-section of world economies using the methods of correlation and multiple regression analysis. In the attempt to select between the linear and the double-logarithmic model, the regression diagnostics and quality of the relationship between the dependent and the independent variables were analyzed. The functional form of the model was tested by the MacKinnon, White and Davidson test. Model selection methods regarding the comparison of coefficients of determination and the Akaike information criterion were used. The results of the analysis show that independent variables have a statistically significant impact on the real GDP per capita, and that the real GDP per capita is elastic to the changes of competitiveness but inelastic to the changes of total early-stage entrepreneurial activity.
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13. Creswell, J. W. (2013), Research Design: Qualitative, Quantitative, and Mixed Methods Approaches, 4th edition, Thousand Oaks/CA, Sage.
14. Cronbach, L. J. (1951), “Coefficient alpha and the internal structure of tests
Background: Having efficient quality management system (QMS) is vital for improving organization’s business. In that context, good knowledge of QMS characteristics and their interrelations with organizational business results is very important.
Objectives: Purpose of the study is to explore characteristics of elements of QMS consistency in Slovene organizations that have implemented and maintained QMS, and how the QMS characteristics influence business results.
Methods/Approach: Data was collected through web survey of quality managers in organizations that have certified QMS according to ISO 9001:2008. For respondent organizations, data on their business results was retrieved from official sources. Special programme for comparisons and results presentation based on contingency analysis was developed, and correlation between QMS consistency elements and financial results of organizations were statistically processed.
Results: The results show that for Slovenian organizations with certified QMS, correlations between QMS consistency elements and organizational business results are confirmed. For the majority of consistency elements correlations are significant, and the elements where correlations are insignificant are also exposed.
Conclusions: As quality management will gradually become integral part of holistic organizational management, QMS will influence not only organizational management system and processes’ management but also directly on business results.
The impact of liquidity on the capital structure: a case study of Croatian firms
Background: Previous studies have shown that in some countries, liquid assets increased leverage while in other countries liquid firms were more frequently financed by their own capital and therefore were less leveraged. Objectives: The aim of this paper is to investigate the impact of liquidity on the capital structure of Croatian firms. Methods/Approach: Pearson correlation coefficient is applied to the test on the relationship between liquidity ratios and debt ratios, the share of retained earnings to capital and liquidity ratios and the relationship between the structure of current assets and leverage. Results: A survey has been conducted on a sample of 1058 Croatian firms. There are statistically significant correlations between liquidity ratios and leverage ratios. Also, there are statistically significant correlations between leverage ratios and the structure of current assets. The relationship between liquidity ratios and the short-term leverage is stronger than between liquidity ratios and the long-term leverage. Conclusions: The more liquid assets firms have, the less they are leveraged. Long-term leveraged firms are more liquid. Increasing inventory levels leads to an increase in leverage. Furthermore, increasing the cash in current assets leads to a reduction in the short-term and the long-term leverage.