FDI’s Impact on Transitional Countries, Serbia as a Rational Choice: The FIAT-ZASTAVA Case

The privatization process and foreign direct investments (FDI) are among the most important economic issues in transitional countries. FDI has enormous influence on transitional countries that need serious structural changes. In this paper we will study FIAT’s decision to invest in the Serbian automotive industry. We will try to rationalize FIAT’s decision because Serbian car manufacturer ZASTAVA was not the only alternative for FIAT to invest in the Balkans. In order to justify FIAT’s decision we will apply the Mullins model of horizontal and vertical FDI, examine the importance of the cooperating history between two car manufacturers and compare macroeconomic conditions and Global Competitiveness of Serbia and Romania, which was the main alternative for FIAT. Finally, we will also try to explain why FIAT decided to announce the investment at the end of political campaign in Serbia when pools gave anti-European parties higher chances for victory, instead of waiting to see the outcome of the elections.

Improving and measuring transparency in NGOs: A disclosure index for activities and projects

Nongovernmental organizations (NGOs) are established not with the aim of making profits but rather to provide social values by implementing different projects and activities. Transmitting complete information about these projects to society is a key element of transparency, as they operate within an atmosphere of public trust. Although there is a large body of literature on transparency in NGOs from a global perspective, very little research has been conducted on transparency within the area of projects and activities. This study takes a deeper look at this line and contributes to the literature on transparency in NGOs by proposing an index to measure the information transparency of the projects implemented by these organizations. The index captures three dimensions of the information about the projects (technical, financial, and scope) and makes it possible to: analyze the level of transparency of the portfolio of projects, detect the specific aspects that could be improved in each organization, and carry out comparisons among organizations.     

Trend estimation of multivariate time series with controlled smoothness

This paper extends the univariate time series smoothing approach provided by penalized least squares to a multivariate setting, thus allowing for joint estimation of several time series trends. The theoretical results are valid for the general multivariate case, but particular emphasis is placed on the bivariate situation from an applied point of view. The proposal is based on a vector signal-plus-noise representation of the observed data that requires the first two sample moments and specifying only one smoothing constant. A measure of the amount of smoothness of an estimated trend is introduced so that an analyst can set in advance a desired percentage of smoothness to be achieved by the trend estimate. The required smoothing constant is determined by the chosen percentage of smoothness. Closed form expressions for the smoothed estimated vector and its variance-covariance matrix are derived from a straightforward application of generalized least squares, thus providing best linear unbiased estimates for the trends. A detailed algorithm applicable for estimating bivariate time series trends is also presented and justified. The theoretical results are supported by a simulation study and two real applications. One corresponds to Mexican and US macroeconomic data within the context of business cycle analysis, and the other one to environmental data pertaining to a monitored site in Scotland.     

Calculable Power: A Case Study of IMF Quotas and Voting Rights Reform*

Voting procedure is an important mechanism for public choice in collective bodies such as international organizations. This paper measures and compares IMF member countries’ voting power before the 2008 reform and after the 2010 reform on the basis of datasets on IMF quotas and voting rights distribution provided by IMF. Our study verifies that IMF’s quotas and voting rights reforms do help to reduce the voting power gap among member countries. The 2008 and 2010 reforms produce a greater improvement in emerging members’ voting power under the 70 percent majority rule than the 85 percent rule; the 70 percent majority rule means the United States would lose its absolute veto. Moreover, the paper disproves the underlying assumption that regards a member’s voting power as proportional to its voting rights. Countries with different amounts of voting rights can still have the same voting power.     

The three governances in social innovation

This paper explores the relationship between governance and social innovation in the area of organizations. In order to understand that relationship, we offer a model that links the absorptive capacity of knowledge [Cohen and Levinthal 1990. “Absorptive Capacity: A new Perspective on Learning and Innovation.” Administrative Science Quarterly 35 (1): 128–152] with open innovation [Chesbrough and Di Minin 2014. “Open Social Innovation.” In New Frontiers in Open Innovation, edited by H. Chesbrough, W. Vanhaverbeke, and J. West, 169–187. Oxford: Oxford University Press]. On the basis of the pilot study Regional Social Innovation Index carried out in the Basque Country (Spain), we empirically explore three types of governance (social, inter-organizational, and sustainable) in social innovation projects propelled by four types of key agents at a regional level: profit and non-profit organizations, universities, and technology centers. The proposed governance Index in Social Innovation contributes to discussions about governance and social innovation at a micro level and, and to the debate about the production of indicators in social innovation.     

The impact of age,BMI and sex hormone on aging males’ symptoms and the international index of erectile function scores

Objective: To analyze the impact of age, BMI and sex hormone on aging males’ symptoms (AMS) and the 5-item version of the international index of erectile function (IIEF-5) scores in middle-aged and elderly Chinese men.

Methods: A population-based cross-sectional study was conducted in Jiashan County. A total of 969 men, aged between 40 and 80 years old, were admitted. Physical examination and the sex hormones were measured, and AMS and IIEF-5 scores were assessed.

Results: The oneway ANOVA analysis indicated older age groups had higher AMS total-scores, somatic and sexual sub-scores, and lower IIEF5 scores (all p?r_pairwise) analyses showed the significant associations between AMS and age or sex hormone (cFT, Bio-T, SHBG, and LH) levels, and similar for IIEF5. However, when age was adjusted, the correlation coefficients (r_partial) weakened, and correlation significance disappeared, except LH (for AMS: r_partial?=?0.096, p?=?.009; for IIEF-5: r_partial?= ?0.140, p?=?.001). Multiple linear regressions confirmed the influence of increased age and LH on the AMS and IIEF5 scores.

Conclusion: CFT, Bio-T and SHBG failed to yield any additional predicting information when age was adjusted. To improve the male reproductive health, future research should pay more attention on aging-related comorbidities and how to improve general wellness.     

Association of the modified frailty index with adverse outcomes after penile prosthesis implantation

Objectives: To investigate frailty as a predictor of surgical outcome in elderly patients undergoing penile prosthesis implantation.

Material and methods: A total of 54 elderly patients, above 60 years of age, underwent penile prosthesis implantation between 2012 and 2014. Their data were collected and retrospectively analyzed. A modified frailty index (mFI) was calculated for each patient based on 11 risk factors from the Canadian Study of Health and Aging Frailty Index. The 1-year adverse outcomes were correlated with mFI, patients’ and procedure’s risk factors.

Results: Mean age was 64.9?±?5.2 years. No mortality was reported in our patients, however, one-year adverse outcomes were encountered in 43 (79.6%) patients. Among all studied variables, the 1-year adverse outcomes was not significantly association with mFI, but with preoperative glycosylated hemoglobin A1c (HbA1c) (p?=?0.031) and associated Peyronie’s disease (PD) (p?=?0.000). HbA1c, dyslipidemia, hypertension, PD and duration of the procedure were predictive of infection complications (p?Conclusions: mFI is not a predictive of post-penile prosthesis implantation adverse outcomes in elderly patients with impotence. Degree of diabetic control and association with PD was associated with the 1-year adverse outcomes and infection complications.     

Fast robust feature screening for ultrahigh-dimensional varying coefficient models

In this paper, we propose a new partial correlation, the so-called composite quantile partial correlation, to measure the relationship of two variables given other variables. We further use this correlation to screen variables in ultrahigh-dimensional varying coefficient models. Our proposed method is fast and robust against outliers and can be efficiently employed in both single index variable and multiple index variable varying coefficient models. Numerical results indicate the preference of our proposed method.     

Bayesian elastic net single index quantile regression

Single index model conditional quantile regression is proposed in order to overcome the dimensionality problem in nonparametric quantile regression. In the proposed method, the Bayesian elastic net is suggested for single index quantile regression for estimation and variables selection. The Gaussian process prior is considered for unknown link function and a Gibbs sampler algorithm is adopted for posterior inference. The results of the simulation studies and numerical example indicate that our propose method, BENSIQReg, offers substantial improvements over two existing methods, SIQReg and BSIQReg. The BENSIQReg has consistently show a good convergent property, has the least value of median of mean absolute deviations and smallest standard deviations, compared to the other two methods.     

The contingent futures of the mobile present: automation as possibility

In this article we outline and demonstrate a design anthropological approach to investigating automated mobile futures as a processual opening up of possibilities, rather than as a process of technological innovation. To undertake this we investigate the example of how the car-smartphone relationship is configuring in the contingent circumstances of the mobile present and the implications of this for automated mobile futures. Our discussion is set in the context of the growing possibility that automonous driving (AD) features are increasingly part of everyday mobilities (even if unequally distributed globally) and in which personal mobile smart technologies and artificial intelligence (AI) will exist in some form and will interface with humans and be interoperable with other technologies. In developing this we draw on ethnographic understandings of how people live with the possibilities afforded by technologies in everyday life.