The present research is based upon a comprehensive survey which discusses the slightly tolerable water level of Balaton between 2000 and 2003. The low water level of the extreme period caused considerable problems in ...The present research is based upon a comprehensive survey which discusses the slightly tolerable water level of Balaton between 2000 and 2003. The low water level of the extreme period caused considerable problems in recreation. Our goal was to investigate the possible water transfer policies and the water level regulation policy of Lake Balaton by applying the dynamic programming of Markov chains. This iteration supports the cost-benefit analysis of different scenarios and also provides information about the best water governing policy. As a basis of our scientific analysis, Markov chains were created by ARMA （autoregressive moving average） synthetic data generator. Profit was joined to each transition-probability for the economic analysis. In our case the profit was negative, because the harmful effects of the low water level should be estimated, which is based on the calculated willingness-to-pay for improving the water quality of Lake Balaton. In addition, the profit includes the cost of different water supplement scenarios. After computer programming, the method proved to be an efficient tool to buttress the cost-benefit analysis of water supplement scenarios. The result highlights the importance of further climate change monitoring. Calculation confirmed water transfer to be cost-effective, yet scenarios with less ecological risk are also effective, thus preferable.展开更多
Self-dealing refers to all kinds of transactions and operations diverting value from a company to corporate controllers. In order to tackle self-dealing, academics and regulators have emphasised the legal tools. Howev...Self-dealing refers to all kinds of transactions and operations diverting value from a company to corporate controllers. In order to tackle self-dealing, academics and regulators have emphasised the legal tools. However, there is a divergence between those supporting the existence of a benchmark model towards which to converge （convergence hypothesis） and those underscoring the importance of socio-economic factors on the efficacy of governance rules （path-dependency view）. The aim of this paper is to join in the convergence vs. path-dependency debate by focusing on the efficiency of mandatory rules and investigating their effectiveness. Considering the current market integration, the traditional cost-benefit analysis has been extended in order to embrace costs specifically associated to the issue of domestic rules in a global scenario. This analysis supports the convergence view and encourages at least a partial and gradual adjustment of national legislations towards the prevailing Anglo-Saxon model. In order to test this hypothesis, an examination of the self-dealing regulatory （on conflict of interests and self-dealing） adopted in some Western （Germany, Italy, and the United Kingdom （UK）） and Eastern （Czech Republic, Hungary, and Poland） European countries has been conducted.展开更多
文摘The present research is based upon a comprehensive survey which discusses the slightly tolerable water level of Balaton between 2000 and 2003. The low water level of the extreme period caused considerable problems in recreation. Our goal was to investigate the possible water transfer policies and the water level regulation policy of Lake Balaton by applying the dynamic programming of Markov chains. This iteration supports the cost-benefit analysis of different scenarios and also provides information about the best water governing policy. As a basis of our scientific analysis, Markov chains were created by ARMA （autoregressive moving average） synthetic data generator. Profit was joined to each transition-probability for the economic analysis. In our case the profit was negative, because the harmful effects of the low water level should be estimated, which is based on the calculated willingness-to-pay for improving the water quality of Lake Balaton. In addition, the profit includes the cost of different water supplement scenarios. After computer programming, the method proved to be an efficient tool to buttress the cost-benefit analysis of water supplement scenarios. The result highlights the importance of further climate change monitoring. Calculation confirmed water transfer to be cost-effective, yet scenarios with less ecological risk are also effective, thus preferable.
文摘Self-dealing refers to all kinds of transactions and operations diverting value from a company to corporate controllers. In order to tackle self-dealing, academics and regulators have emphasised the legal tools. However, there is a divergence between those supporting the existence of a benchmark model towards which to converge （convergence hypothesis） and those underscoring the importance of socio-economic factors on the efficacy of governance rules （path-dependency view）. The aim of this paper is to join in the convergence vs. path-dependency debate by focusing on the efficiency of mandatory rules and investigating their effectiveness. Considering the current market integration, the traditional cost-benefit analysis has been extended in order to embrace costs specifically associated to the issue of domestic rules in a global scenario. This analysis supports the convergence view and encourages at least a partial and gradual adjustment of national legislations towards the prevailing Anglo-Saxon model. In order to test this hypothesis, an examination of the self-dealing regulatory （on conflict of interests and self-dealing） adopted in some Western （Germany, Italy, and the United Kingdom （UK）） and Eastern （Czech Republic, Hungary, and Poland） European countries has been conducted.
