The credit ratings awarded by the credit rating agencies enable participants in financial markets to make the most optimal choice in respect of where to invest free money assets. The agencies evaluate the risk of investing in securities offered by issuers by awarding them a specific credit rating, which influences the rate of interest, the value and the yield from the securities they offer. The credit rating agencies have had a crucial influence on events within the financial markets and it is considered that they have firstly caused and then fuelled the financial crash of 2008. Due to their influence on heating up the debt crisis in the Eurozone, the European Union has issued a regulation that limits and redefines their activities with the purpose of recovering trust in financial markets and increasing the protection for investors. In this article, the authors explain the background to this regulation and explore its aims which can be summarised in the context of improving transparency, independence and accountability. Indeed, accepting the latter is key to restoring credibility.
Abstract.
Sustainable development represents a civilization challenge that should meet the needs of today's generations without jeopardizing the ability of the Earth to meet the needs of the future generations. This challenge, as an evolutionary process in which the
We build on the configurational approach to identify patterns of macro contextual factors leading to high country-level employee overqualification. We differentiate between subjective and objective employee overqualification and establish that each is caused by different configurations of macro factors. We also identify country-level overqualification archetypes and link specific countries with respective archetypes. We find that a country's non-vocational education system is a necessary condition for high objective overqualification, while objective overqualification itself is not a necessary condition for perceived overqualification. We discuss theoretical implications and offer policy implications.
Economic development is the most important for foreign consumers to adjust their trade tasks and demand in global business. Each stage of the economic development of a country has a powerful impact on prospects of foreign investment activities, commodity demand, the permanent system of distribution and logistics and a comprehensive marketing process while increasing consumption. Basically, economic development represents a double challenge. Firstly, there is a need to investigate general aspects to gain an image of the economic climate. Secondly, each state of economic growth must be investigated with the focus being on market opportunities, current economic level and growing economic potential. The state of economic development at a particular moment determines the kind and level of market potential. Economic dynamics and economic competence make it possible for commerce to prepare and respond appropriately to economic movements and market development. Economic growth is perceived and explored by the authors in terms of increased national production resulting in increased GDP per capita in domestic production but with a wide distribution of increased income, where there are conditions and aspirations towards gross economic growth, increased consumer demand and requirements which are likely to get higher with every decade as opposed to the process stretching over centuries in the past.
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