Decision support systems for human resource training and development

Human resource training and development methods and techniques have different qualitative characteristics that require a multicriteria and multiscenario framework for their assessment. This study incorporates the AHP to assess the nine most important human resource training and development methods and techniques, under five criteria and six scenarios. The methods considered are ‘on-the-job training’, ‘mentorship’, ‘apprenticeship’, ‘vestibule training/simulators’, ‘web-based learning’, ‘instructor-led classroom training’, ‘programmed self-instruction’, ‘case studies/role playing’ and ‘systematic job rotations and transfers’. ‘Vestibule training/simulators’ and ‘mentorship’ have the average best scores, and they should be among the first priorities especially when efficiency, the motivation of employees and minimization of the duration of training time are the most important factors. ‘Web-based learning’ is ideal for minimizing training costs or when ease of application is the first priority. ‘On-the-job training’ is a very good alternative when the cost of training should be reduced while the motivation of employees should be increased.     

Government spending and revenues in the Greek economy: evidence from nonlinear cointegration

This paper attempts to re-evaluate the long-run macroeconomic relationship between government revenues and expenditures of the Greek economy over the period 1999–2010. The empirical analysis applies the newly developed asymmetric ARDL cointegration methodology of Shin et al. (2011) which permits more flexibility in the dynamic adjustment process towards equilibrium, than in the classical case of a linear model. Our findings point towards the fiscal synchronization hypothesis, supporting evidence of asymmetric interactions between the two fiscal components in both the long- and the short-run time horizon. More particularly, in the long-run, the negative changes of expenditures dominate the response of revenues, while the opposite applies in the response of expenditures.     

AN OVER‐THE‐COUNTER APPROACH TO THE FOREX MARKET

The foreign exchange (FOREX) market is an over‐the‐counter market characterized by intermediation and significant bid–ask spreads. However, most of the existing international macroeconomics literature models the FOREX as a standard Walrasian market. This article constructs a dynamic general equilibrium model of intermediation in the FOREX market. We use our framework to compute standard measures of FOREX liquidity, such as bid–ask spreads and trade volume, and study how they are affected by macroeconomic fundamentals and market microstructure. We also study how FOREX market microstructure affects the volume of international trade and, consequently, welfare. Our empirical exercise offers support to the models' main predictions.     

Financial stability indicators and public debt developments

This paper investigates the inter-linkages between financial stability and fiscal policy. It analyzes the effect of selected financial stability indicators on the probability of future debt deterioration, controlling for several macroeconomic variables. We find significant evidence that a fragile banking system can put at risk public finances. Weak bank profitability, low asset quality and a weak capital base increase the fragility of the banking system, thus, raising the probability of future fiscal troubles.     

Managing Large-scale IT Projects: The Case of National Air Traffic Services' New En Route Centre at Swanwick

UK experience with implementation of high-profile IT projects has been rather unhappy, with projects tending to be severely delayed, to operate poorly and to be prone to escalating costs. There is therefore a need to understand better and to improve the management of such investments. This paper adopts a synthetic approach to analysing large-scale IT projects, drawing upon research on managing inflexible technology, project management and information technology implementation. The paper combines findings from these literatures to produce a detailed set of factors that are known to adversely affect ambitious software and other large-scale development projects. It employs a case study of software development at National Air Traffic Services' NERC project at Swanwick potentially to illustrate these. The paper finds that experience at Swanwick does indeed mirror many of the pitfalls predicted but also that the synthesis of approaches attempted enhances our understanding of the difficulties involved in managing large-scale IT projects perhaps rather better than univocal approaches.     

Administrative Costs and Instrument Choice for Stochastic Non-point Source Pollutants

This paper extends the empiricalanalysis of non-point source pollution to thecase where the pollutant is stochastic andalternative regulatory instruments havedifferent administrative costs. It also appliesa method of stochastic programming whereemissions are log-normally distributed. Forthe Kennet catchment in South West England werank a range of policies in terms of abatementcosts alone, and total costs (abatement andadministrative costs). On the basis ofabatement costs alone, a uniform emission taxis the cost minimising policy, but on the basisof total cost a nitrogen input tax is theleast-cost policy. Furthermore, the policyranking, based on total costs, changes as thereliability standard increases.     

Chi-square Distribution as a Research Tool,and Some of Its Most Important Parametric and Non-parametric Applications

When researchers are testing the validity of claims during their research, they may use either parametric methods （if they exist） or non-parametric methods if appropriate parametric methods do not exist. The Chi-square （x2） distribution plays an important role in both parametric and non-parametric methods and many of its most important applications are explored in this paper. This paper provides an excellent summation of the properties and capabilities of the very versatile x2 distribution, and many specific applications and suggestions for additional future applications.     

Measuring advertising intensity and intangible capital in the Greek food industry

The objective of the present paper is to examine market conduct and its determinants in the Greek food industry and to measure how and to what degree the industry and the firm's structural characteristics affect advertising intensity. An advertising intensity model giving emphasis to intangible capital is formulated. Data from ICAP have been used on a four-digit classification for the food industry during the 1990–1997 period. The empirical results indicate that intangible capital positively affects the advertising intensity of the firm and plays an important role in strategies that affect total cost, demand and structure of the market.     

Bank capital regulation in a barrier option framework

The barrier options theory of corporate security valuation is applied to the contingent claims of a regulated bank. The regulator/insurer of a bank owns a down-and-in call option on the bank assets which can be balanced against the expected coverage cost. Raising the regulatory barrier (critical asset level triggering bank closure) leads to a transfer of wealth from stockholders to the insurer and reduces stockholder incentives to increase asset risk. Empirical tests on a sample of 152 one-bank holding companies show that regulatory barriers are priced in the stock market and are inversely related to Tier 1 leverage ratios.     

Agricultural decline and sustainable development on mountain areas in Greece: Sustainability assessment of future scenarios

Agricultural decline may pose an important threat to mountain biodiversity but it also constitutes a driving force of socio-economic transformation. The aim of this study is to investigate the implications of alternative agricultural policy scenarios on the sustainable development of Greek mountain areas using a case study approach (Zagori region, Greece). Two agricultural policy scenarios were explored and assessed against a list of sustainability objectives. Causal relationships among drivers of changes and sustainability objectives were explored using Network Analysis. Our analysis has shown that agricultural liberalisation is expected to have devastating effects on the development of the area and it was strongly opposed as an alternative future by the local stakeholders. The analysis of the driver's causal relationship has also revealed that in order to ensure the sustainable development of the area it is necessary to sustain low input extensive farming, to promote mild tourism development and to enhance the operational efficiency of the National Park. Moreover, in order to reconcile agricultural decline, biodiversity and sustainable development, policy-management recommendations must be drawn at multiple administrative levels and complementary policy interventions within and between levels are required. It is thus, important that EU agricultural policies are complemented by national-regional interventions in order to regulate the fragile balance between agriculture and tourism. Finally, this study has shown that the combination of scenario analysis and sustainability assessment can provide an efficient tool to inform management strategies for sustainable development.