295 10 3494 https://omeka.ibu.edu.ba/files/original/e0ae8aa47127c85c854c7f614b985622.pdf e89461f899b582d2641dd49f62b7633f PDF Text Text 3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo c. Managers analyze Financial Statements to capture a 1 2 3 4 5 6 7 company's financial position for a given period. This allows users of financial information to analyze and compare the health of one company to another. d. I am satisfied at how my system is set up at this time. 1 2 3 4 5 6 7 e. Sometimes it happens that accountants make mistakes 1 2 3 4 5 6 7 purposely, the only solution for this is termination. Thank you for your participation. The link between deposit insurance And banks’ risk taking Göçmen Yağcilar Gamze, Demir Yusuf, Kalkan Gürkan Suleyman Demirel University, Isparta, Turkey E-mails: gamzeyagcilar@sdu.edu.tr, yusufdemir@sdu.edu.tr Abstract Deposit insurance is an insurance system that guarantees bank deposits of people in case of bank failure or a run on the bank. The system is first introduced in 1933 for Turkey and taken its final form with regulations in 2004. Deposit insurance in Turkey is handled by Savings Deposit Fund Insurance and according to the latest regulations compensation limit covers a maximum of 50,000 TL per depositor per member institution. Deposit insurance system which is adopted in most countries has various advantages for both individuals and banks. However academic debates commonly focus on whether this system encourages banks to take excessive risk. In this context the purpose of this study is to analyze the link between deposit insurance and bank risk taking. For this purpose, a panel regression analysis is applied to the ratio of deposits under insurance to total deposits and basic risk measures of banks operating in Turkey during 2004-2010. Keywords: Deposit insurance, bank risk taking, panel data regression. 1. INTRODUCTION Banking sector is special with its nature of financing long term investments with relatively short term deposits. This feature makes banks vulnerable to various types of risks both from market and from themselves. One of the threats towards banking system is the sudden withdrawals of large amount of deposits which is known as bank runs. This brings the need of applying some regulatory techniques to maintain “safety and soundness” of banks. Deposit insurance system is used as a regulatory tool in most countries for many years. The aim of such a system is to provide banking sector’s stability preventing banks from being subject to runs. Carapella and DiGiorgio (2004:77) define this system as: 119 �3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo “…an instrument through which the banking system guarantees that funds deposited by the public in a bank are independent of solvency and liquidity conditions of the bank itself, so that depositors may be sure of being reimbursed at any time”. Deposit guarantees are designed to protect small and usually uninformed depositors (Silva, 2008:28) from losses depending on bank defaults, while protecting banking system’s stability (Aydın, Başar, et al., 2006:246). Thus, it reduces the likelihood of bank panics and protects banks from facing the problem of excessive and unexpected deposit withdrawal (Şıklar: 2004:243). Deposit insurance system has various advantages for both depositors and banks. However academic debates commonly focus on whether this system is a source of moral hazard which reduces incentives of depositors to monitor their banks while encourages banks to take excessive risks (Silva, 2008; Beck, 2008:8; Boyd, De Nicola, 2005:1330; Bartholdy, Boyle et al., 2003:701; Bossone, 2000). In Turkey, the system is first introduced in 1933 and taken its final form with regulations in 2004. Deposit insurance in Turkey is handled by Savings Deposit Fund Insurance and according to the latest regulations compensation limit covers a maximum of 50,000 TL per depositor per member institution. From this point of view, the purpose of this study is to investigate whether the amount of insured deposits affects the risk taking incentives of individual banks. According to our knowledge, this is the first study which analysis the bank level effects of deposit insurance system in Turkey. Originality of the study also depends on the deposit insurance proxy variable used in the analysis. The rest of this paper is organized as follows: Section 2 looks at the related literature. Section 3 describes data and variables and Section 4 introduces the methodology used in our empirical analysis. Section 5 presents the empirical findings. Finally in Section 6 we conclude. 2. Literature Review Demirgüç-Kunt and Detragiache (1999) tested the effect of deposit insurance on bank stability. Using the data of 61 countries during 1980-1997, the study found that explicit deposit insurance tends to be detrimental to bank stability. Ninimaki (2000) analyzed the joint effect of competition and deposit insurance on banks’ risk taking when the riskiness of banks can not be observed by depositors. According to the results, if the bank is monopoly or banks compete only in the loan market, deposit insurance has no effect on risk taking. But introduction of deposit insurance triggers risk taking if there is competition in deposit market. In a similar study, Wu and Chi (2006) aimed to find out the relationship between competition and risk taking. They found that this relationship depends on the interactions of market structure between loan and deposit markets, deposit insurance and depositors’ risk aversion. Focusing on the effects of deposit insurance, the results suggest that with full deposit insurance coverage an increase in competition for deposit will trigger moral hazard problem while an inverse impact occurs under competition for loan. If the deposit insurance system is not introduced, then the risk taking behaviors of banks depend on depositor’s risk internalization. Bartholdy, Boyle et al. (2003) used data from 13 countries to investigate the relationship between deposit insurance and deposit risk premiums. Results suggest that insured deposits have a lower risk premium compared to the uninsured deposits. Another result of the study is that relationship between the risk premium and the maximum dollar value of insurance 120 �3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo coverage is non-linear that means moral hazard incentives are recognized and priced by investors. Gropp and Vesala (2004) investigated the impact of deposit insurance on EU banks’ risk taking during 1990s. The results suggest that the introduction of explicit deposit insurance system may significantly reduce risk taking. The authors also found some evidence that explicit deposit insurance might be a useful way to limit the safety net, increase market monitoring of banks and reduce moral hazard. Leaven and Levine (2008) assessed the relationships among risk taking of banks, their ownership structures and national bank regulations including deposit insurance system. Their results suggest that the impact of deposit insurance on banks’ risk taking varies depending on the ownership structure of banks. If the bank is widely-held, deposit insurance has not have a significant impact on risk taking. On the other hand if bank has a majority owner, bank risk increases significantly with an increase in deposit insurance. Silva (2008) has introduced deposit insurance in a model of information based bank runs. Results show that the net effect of deposit insurance on the equilibrium demand deposit contract is to raise its value and also the risk of runs. So deposit insurance induces moral hazard. Ioannidou and Penas (2010) analyzed the effect of deposit insurance on the risk taking behavior of banks. Using the case of Bolivia, the authors compared the risk taking behavior of banks before and after the introduction of deposit insurance system in December 2001. Their main findings indicate that the introduction of deposit insurance system led to an increase in the probability of a bank originating a subprime loan. The results also suggest that banks do not increase collateral requirements or decrease loan maturity to compensate for the extra risk. Cross sectional analysis confirm the consequence that banks take more risk after the deposit insurance system is introduced. Angkinand and Wihlborg (2010) analyzed whether deposit insurance systems and ownership structures of banks affect the degree of market discipline on banks’ risk taking. They found that total effect of explicit deposit insurance coverage on risk taking is shown as a U-shaped curve. This indicates that risk taking is minimized at a positive and partial insurance coverage level where market discipline is at its strongest. Ng, Lim et al. (2010) searched the relation between explicit deposit insurance and risk taking of banks in Malaysia during 2004-2007. The authors found that explicit deposit insurance had different effects on various risk factors. After the introduction of deposit insurance scheme, only two risks, interest rate risk and risk-weighted capital ratio deteriorated. Deposit rate, credit risk, liquidity risk and core capital ratio were not significantly changed for the postintroduction period. 3. Data and Variables To analyze the effects of deposit insurance on banks’ risk taking, we used annual bank level data of 27 banks continually operated in Turkey during 2004-2010 (from the beginning of implementation of the latest deposit insurance regulation to the present). Following Ng, Lim, et al. (2010), we aimed to understand the effects of the insured deposits/total deposits ratio (as the proxy of explicit deposit insurance) on banks’ risk taking and activities. For investigating banks’ risk taking behaviors, following variables are selected: 121 �3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo Table 1: Definition of Variables Variables Acronyms Definition Deposit insurance DI Insured deposits/total deposits Credit Risk NPL Non-performing loans/total loans Liquidity Risk LIQ Liquid assets/short term liabilities Interest Rate Risk Exposure INT Interest rate sensitivity of balance sheet and * off-balance sheet position/total capital Capital Adequacy Ratio CAR Capital as a fraction of risk-weighted assets 4. Methodology Following the existing literature, the main hypothesis of this study is that banks tend to take more excessive risks if their ratio of insured deposits to total deposits is higher. In order to investigate this assumption, we applied regression analysis to our panel data set of 189 observations including 27 banks and 7 years. Effects of insured-deposit-rates on several risk factors are analyzed separately. So our key independed variable is deposit insurance (DI). An Ordinary Least Squares technique is used; because it is suitable to use for the econometrics of panel data because of the double individual dimensions of the data (Batisse, 2001). Random effects technique is selected in estimations according to the data structure. Definitely, insured-deposits-rate is not the only variable determining the risk levels of banks; but the others wouldn’t be considered in the context of this study. In our empirical analysis, we just add three control variables to improve the explanatory power of DI. These variables are;    Crises Dummy: The global financial crisis quite likely has affected the level of risk variables. The crisis has begun in 2007 but its effects are experienced in Turkey especially in 2009. We can understand this looking at the negative growth rates of the economic indicators (mainly Gross Domestic Product-GDP growth) in 2009. So the variable takes “1” for 2009 and “0” for other years. Real GDP: Gross Domestic Product is expected to have an impact on the risk levels of banks affecting their borrowers’ solvency as well as risk appetite of banks. Data is obtained from www.dpt.gov.tr. Inflation: Proxied by producer price index. Basic impact of inflation is expected to be on interest rates. Inflation also increases the uncertainty of the future for borrowers, depositors and for banks. So the variable is expected to have a positive effect on risk levels. Data is obtained from www.dpt.gov.tr. * Ratio of the difference between the liabilities subject to repricing within one year and the assets subject to repricing within one year plus off-balance sheet position to total capital 122 �3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo 5. Empirical Results Applying OLS technique to our panel data set, we have found that the effect of deposit insurance is significant only for two variables. These variables are NPL (non performing loan ratio) and LIQ (liquidity ratio). The directions of these effects are consistent with literature and with our expectations. Results suggest that the amount of insured deposits over total deposits has a positive and significant effect on NPL supporting the “moral hazard” argument. According to this argument, deposit insurance makes banks less sensitive in screening and monitoring of loans and this attitude increases the level of NPL. Another significant effect of DI is on LIQ and the direction of this effect is negative as expected. This result suggests that when the insured deposit rate is higher, i.e. bank’s responsibility is undertaken by government, bank’s incentive to invest in liquid assets in order to meet its obligation is destroyed. Interest rate sensitivity (INT) is affected positively by DI. It means that banks become less careful in matching assets and liabilities according to the time remaining to repricing. But this effect is not statistically significant. Deposit insurance affects Capital Adequacy Ratio (CAR) negatively. Banks consider deposit insurance as compensation towards their potential losses but if their obligations are insured by the government, they don’t consider equity necessary. However, this effect is not statistically significant. In determination of LOAN variable, DI gets negative coefficient but it is not significant. In the equation of DEP, DI gets positive coefficient but this effect is insignificant either. Table 2- Empirical Results Depended Variable Coefficient of DI Probability R2 NPL 0.090385 0.0940* 0.019856 LIQ -0.303803 0.0454** 0.094406 INT 0.003329 0.4712 0.021026 CAR -0.081813 0.2556 0.075056 LOAN -0.904939 0.5806 0.024697 DEP 0.056876 0.2336 0.021429 * Significant at %10 significance level * Significant at %5 significance level 6. Conclusion Deposit insurance is a system which guarantees repayments of deposits to depositors and in this way protects financial system’s stability preventing bank runs. However, there is a common suspicion in academic literature on whether this system leads banks to behave less 123 �3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo prudently and encourages them to take excessive risks. This question is widely investigated in academic researches and common view is that the system is a source of moral hazard. In Turkey, deposit insurance system is being held for many years under various politic attitudes. For example during 1990s, deposit insurance covered 100% of deposits in each bank. Since 2004, coverage limit is discounted to 50,000 TL for each depositor in each bank. In this context, the aim of this study is to determine what kind of results occurs at bank level by implementing this new system. To analyze the possible effects of deposit insurance system, we applied Ordinary Least Squares method to our bank level data including a panel of 27 banks operated in Turkey during 2004-2010. The key independed variable of this study is the amount of insured deposits over total deposits (DI). The aim of the study is to determine the effects of DI on various kinds of risk factors and activities. We considered three risk factors which are credit risk (NPL), interest rate risk and liquidity risk. Other depended variable are Capital Adequacy standard ratio (CAR), loans/deposits ratio (LOAN) and deposits/total assets ratio (DEP). Supporting the moral hazard argument, results suggest that deposit insurance raises credit risk which is proxied by NPL ratio. Insured deposit rate also has a deteriorating effect on banks’ liquidity. On the other hand, the variable isn’t found related with interest rate risk, capital ratio, loan ratio and deposits ratio. Basing on these findings, we suggest that regulatory institutions should focus on the moral hazard of banks to eliminate the adverse effects of the system. In order to explore whether the impact of deposit insurance on banks changed after the latest regulation, a further analysis is necessary. REFERENCES Angkinand, Apanard, C., Wihlborg, (2010), “Deposit Insurance Coverage, Ownership and Banks’ Risk Taking in Emerging Markets”, Journal of International Money and Finance, Vol. 29, 252-274. Aydin, N., Başar M., Coşkun, M., (2006), Bankacılık Uygulamaları, Anadolu Üniversitesi Ya. No. 1711, Eskişehir. Bartholdy, Jan, Glenn W. Boyle, R.D. Stover, (2003), “Deposit Insurance and the Risk Premium in Bank Deposit Rates”, Journal of Banking and Finance, Vol. 27, 699-717. Batisse, C., (2001), “Externalities and Local Growth: A Panel Data Analysis Applied to Chinese Provinces”, International Conference of the Chinese Economy, Has China Become a Market Economy?, May 17-18 2001, France. Beck, T., (2008), “Bank Competition and Financial Stability: Friends or Foes?”, World Bank Policy Reseach Working Paper, No. 4656, pp. 1-30. Bossone, B., (2000), “What Makes Banks Special? A Study of Banking, Finance and Economic Development”, World Bank Working Papers, No. 2408, pp.1-66. Boyd, J.H, de Nicola, G, (2008), “The Theory of Bank Risk Taking and Competition Revisited”, the Journal of Finance, Vol. 60, No. 3, 1329-1343. Carapella, F., G. Di Giorgio, (2004), “Deposit Insurance, Institutions and Bank Interest Rates”, Transition Studies Review, Vol. 11, no. 3, 77-92. Demirgüç-Kunt, A., E. Detragiache, (1999), “Does Deposit Insurance Increase Banking System Stability? An Empirical Investigation”, World Bank Policy Research Working Paper, No. 2247. 124 �3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo Gropp, Reint, Jukka Vesela, (2004), “Deposit Insurance, Moral Hazard and Market Monitoring”, European Central Bank, Working Paper Series, No. 302. Ioannidou, Vasso, P., M.F. Penas (2010), “Deposit Insurance and Bank Risk Taking: Evidence from Internal Loan Ratings”, Journal of Financial Intermediation, Vol. 19, 95-115. Keeley, M.C., (1990), “Deposit Insurance, Risk and Market Power in Banking”, The American Economic Review, Vol. 80, No. 5, 1183-1200. Leaven, L., R. Levine, (2008), “Bank Governance, Regulation and Risk Taking”, NBER Working Paper Series, No: 14113. Ng, Tuan Hock, Lim, Y.S., Tan N. L., (2010), “Deposit Insurance and Bank Risks: The Case of Malaysia”, European Journal of Economics, Finance and Administrative Sciences, Issue 18, 19-27. Ninimaki, J-P., (2000), “The Effects of Competition on Banks’ Risk Taking with and without Deposit Insurance”, Bank of Finland Discussion Papers, No. 21. Şıklar, İ, (2004), Finansal Ekonomi, Anadolu Üniversitesi Ya., No. 1588, Eskişehir. Silva, Nancy (2008), “Deposit Insurance, Moral Hazard and The Risk of Runs”, Central Bank of Chile Working Papers No. 478. Wu, R-J, C-P, Chi, (2006), “Competition, Deposit Insurance and Bank Risk Taking”, http://centerforpbbefr.rutgers.edu/2006/Paper%202006/16AS02-056-Chien-Ping%20Chi.pdf. www.dpt.gov.tr www.tbb.org.tr Control of a chaotic finance system with passive control Selçuk Emiroğlu, Yılmaz Uyaroğlu, Etem Köklükaya Sakarya University, Electrical Electronics Engineering Department, Turkey E-mails: selcukemiroglu@sakaryaedu.tr, uyaroglu@sakarya.edu.tr, ekaya@sakarya.edu.tr Abstract In this paper, complicated dynamical behavior of a finance system is investigated. The change in behavior of finance system from stable behavior to chaotic behavior is shown with varying some system parameters. In addition, chaotic finance system with passive control is considered and the stability of the controlled system is investigated. In order to control the chaos in finance system, the controller is designed based on passive control technique. Designed controller is applied to the chaotic finance system for stabilization of system. After controller is added to the system, the change in behavior of finance system from chaotic behavior to stable behavior is shown with passive control. Keywords: Chaotic finance system, chaos control, passive control 125 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1286 Title A name given to the resource The link between deposit insurance And banks’ risk taking Author Author Göçmen , Yağcilar Gamze Abstract A summary of the resource. Deposit insurance is an insurance system that guarantees bank deposits of people in case of bank failure or a run on the bank. The system is first introduced in 1933 for Turkey and taken its final form with regulations in 2004. Deposit insurance in Turkey is handled by Savings Deposit Fund Insurance and according to the latest regulations compensation limit covers a maximum of 50,000 TL per depositor per member institution. Deposit insurance system which is adopted in most countries has various advantages for both individuals and banks. However academic debates commonly focus on whether this system encourages banks to take excessive risk. In this context the purpose of this study is to analyze the link between deposit insurance and bank risk taking. For this purpose, a panel regression analysis is applied to the ratio of deposits under insurance to total deposits and basic risk measures of banks operating in Turkey during 2004-2010. Keywords: Deposit insurance, bank risk taking, panel data regression. Date A point or period of time associated with an event in the lifecycle of the resource 2012-05-31 Keywords Keywords. Conference or Workshop Item PeerReviewed H Social Sciences (General),HB Economic Theory,HG Finance,HJ Public Finance https://omeka.ibu.edu.ba/files/original/9422db1be943823eb37d55df81a9bd1a.pdf a31765a6f572f30d396d5fd91c0bc1b5 PDF Text Text The meaning and use of phrasal verbs at C1 level Djukica Mirkovic Slobomir P. University, Bosnia and Herzegovina Abstract: Despite the fact that phrasal verbs are used in everyday English, foreign learners avoid learning and using them for their complexity and impossibility to understand the meaning of a phrasal verb from its separate parts (a verb itself and a particle separately). As a result of that many learners at C1 level, although being fluent speakers, experience various difficulties using them. The focus of the paper is placed on the meaning and the use of phrasal verbs and the difficulties which students find at C1 level of the English language. The analysis in this paper is based on the phrasal verbs used in the book “Objective CAE” (O`Dell & Broadhead, 2008, Cambridge University Press). In this paper we are also interested in finding out why it is so difficult to understand and use phrasal verbs, the interaction between their meaning and understanding considering their polysemоus features. The results of this analysis may be useful for all ESL teachers to help them understand the difficulties their students face when dealing with phrasal verbs, especially at C1 level. Furthermore, it can be a valuable source for teachers how to introduce the phrasal verbs to their students and thus help them master phrasal verbs in both spoken and written discourse. Keywords: phrasal verb, meaning, use, difficulty, English. 1. Introduction - What are phrasal verbs and why are they important? Phrasal verbs are verbs that, unlike ordinary verbs in English, are accompanied by particular particles, and as such, they function as a whole. The original and primary meaning of the verb in such use varies, depending on the particle and the number of particles after the verb. Phrasal verbs are common in informal spoken or written registers (e.g. find out – discover) (Celce-Murcia & Larsen-Freeman, 1996). Many phrasal verbs can be replaced with another word with the little or no change in meaning. Mostly, the use of a phrasal verb is less formal, more colloquial and more emotionally coloured than a word that replaces it. Phrasal verbs are combined with a particle or two (e.g. come up; come up with) which can be a preposition or an adverb (Thornbury, 2006; Cowan, 2008; McCarthy et al., 2010). Celce-Murcia and Larsen-Freeman (1996:434) suggest that native speakers prefer phrasal verbs over single-verb Latinate counterparts, perhaps because they are simpler and more “natural” in informal registers. However, each phrasal verb might have a one-word equivalent �that can possibly help learners, especially those whose languages (e.g. Romance languages) do not use phrasal verbs. 2. Grammar of Phrasal Verbs A phrasal verb is composed of two elements: a verbal element and a particle. A phrasal verb is the combination of a standard verb such as make or put with one or two particles. The two main categories of multi-verb verbs consist of a lexical verb plus a particle, a neutral designation for the overlapping categories of adverb and preposition that are used in such combinations (R. Quirk: 336). In phrasal verbs a particle is an adverb (eg: put out, set up), whereas in prepositional verbs a particle is a preposition (eg: depend on, deal with) (R. Quirk: 336). However, there are phrasal-prepositional verbs; verbs with two particles, an adverb followed by a preposition (eg: put up with, take up on). 2.1. Transitivity and Intransitivity of Phrasal Verbs Some phrasal verbs require an object (transitive verbs); others do not take an object (intransitive). I was on a crowded bus and by accident bumped into my ex-boyfriend. Some verbs can be used both with and without an object, but we must be careful about the meaning, it may change. The plane had taken off before we came to the airport. In our culture you should take off your shoes before you enter a house. Furthermore, some verbs must have two objects. In this case one object comes after the verb and one after the particle. I usually associate that concert with my childhood. Intransitive phrasal verb consists of a verb and an adverb particle and it does not have an object (O`Dell & Broadhead, 2008:204): She was brought up in a nice family. He has just walked out. Do bad children always get by? 2.2. Position of the Object The most important thing to learn about grammar of phrasal verbs is where to place the object. Should it go before or after the particle? What happens when there are two particles? �And what happens if the object is a pronoun? The particle can generally either precede or follow the direct object as below: She switched off the light. She switched the light off. In these two examples above the object is a noun phrase. If the object is very long, then it usually comes after the particle. She put away all the unnecessary thing including equipment for sport. However, if the object is a personal pronoun it must come between the verb and its particle (R. Quirk: 337). I`ll plug it in as soon as I enter the room. (Not: I`ll plug in it as soon as I enter the room.) 3. The Difficulty of Phrasal Verbs – Analysis of the Phrasal Verbs at C1 Level Phrasal verbs are one of the most difficult aspects for learners of the English Language. There are four main reasons for this: 1. In many cases the meaning of the phrasal verb cannot be recognized from its elements, i.e., it is being used idiomatically. 2. Many phrasal verbs are polysemous; i.e., they have more than one meaning. Many multi-word verbs carry more than one meaning (McCarthy & O`Dell, 2007:18). 3. There are difficulties with the grammar of phrasal verbs, particularly with the position of the particles. 4. Three components verbs are often difficult to understand. Such phrasal verb consists of a verb and two particles. In this situation the object comes last (McCarthy & O`Dell, 2007:8). Table 1 Phrasal Verb 1 run over 2 brush sth/sb off Example Definition of the Phrasal Verb I ran over a dog on my way home. Hit sth/sb with a moving vehicle and injure or kill them The lecture ran over so I missed 5.45 train. Go on after its expected time I suggest that we run over the schedule again Read quickly to make to make sure it`s not going to fail. sure something is correct She brushed off the mud from her bag. Use a brush to remove something �The teacher brushed him off and told him to get back to the test. She usually warms up the meal when she gets home. The tennis player warmed up the spectators before the match started. 3 warm up 4 fall in The girl fell into the hole while she was riding her bike. She fell into a conversation with a man at the bar. 5 put on I decided to put on my best clothes. Refuse to listen to what someone says To heat food that has already been cooked To make a group of people who are going to see a performance start to enjoy themselves by entertaining them for a short time before the performance To accidentally arrive in a hole To start doing something, often without intending to To get dressed To increase in weight 10 come out with go in for My mother put on a lot of weight over Christmas. I wanted to go out for a walk but the weather put me off. John put off going on holiday for another month. Unfortunately she leaned against the horn and it let off such a noise that her parents were alerted. They were so relieved to stop the elopement that they let them off with a stern warning. Maria escaped secretly from her bedroom by letting down a long ladder from the window. Tom was waiting at their appointed meeting and she did not want to let him down. She’s always coming out with the most outrageous things. I don’t go in for team sports 11 get up to What have you been getting up to lately? To do 12 put up with put down I can’t put up with his rudeness any moreЖ To tolerate She put the baby down. To stop holding sth 6 7 8 9 13 put off let off let down To discourage To postpone To drop, release To make not subject to punishment or action To lower To disappoint say like �put down put down put down 14 15 go/come down with turn down The police put down the riots with unnecessary brutality. The student put her bad grade down to tiredness. √ To stop sth by force To think that a problem or situation is caused by a particular thing The student put down her bad grade to tiredness. × Sorry, I won’t be at work today. I think I’ve come down with the flu. To fall sick Jack turned down the radio. 18 He turned her down. tick The teacher ticked the names of the students who had completed the task. tick off The teacher ticked off the student for being late with the project. cope with How do you cope with stress? √ How do you cope with it? × get I need to get a battery for my camera. 19 get together drop off 16 17 20 21 get on with put out To reduce the noise, heat, etc. produced by a piece of equipment by moving its controls reject To make a checkmark To express disapproval To manage To obtain, receive Why don`t we all get together for dinner? To meet The taxi driver dropped us off at the airport. To be driven somewhere and left there To fall asleep Lying on the ground, the little girl dropped off. I get on with all the children in my class. He put the light out. Don’t put yourself out! Don’t put out yourself. To have a good relationship To extinguish, turn off √ Doing something × inconvenient in order to help someone else The table above shows examples of phrasal verbs from the book “Objective CAE” (O`Dell F. 2008, Cambridge University Press). Next to each phrasal verb there is a sentence as an example and definition. Phrasal Verbs under 1, 2, 3, 4, 5, 6, 7, 8, 15 and 19 are mostly transitive (19 is intransitive) and they have multiple meanings, which is likely to confuse or �frustrate learners, particularly high-level students. 9, 10, 11, 12 and 14 examples of phrasal verbs refer to the fourth reason for their difficulty – three component verbs. The learner hears a string of words, each of which they know very well, but which in combination do not make any sense. The Phrasal Verbs next to numbers 13 and 21 are special in terms of two difficult reasons for understanding - polysemous feature and position of the object. Learners can be confused about the position of the object. 16 ad 18 examples refer to the first reason for the difficulty – their idiomatic meaning. A learner who knows the meaning of these two ordinary verbs (16 and 18) may have difficulty in understanding the sentences with phrasal verbs with their idiomatic meaning. Learners should always be focused on the context to decide if the verb has a different meaning from the one they are familiar with. Phrasal Verb 17 is the only example which reflects just the problem of the position of the object, considering the fact that personal pronoun must come before the particle. In the English language there are some verbs (sometimes called prepositional verbs) that must have the object after the particle, even if it is a pronoun. It is an exception. 4. Pedagogical Implications of the Analysis The analysis of the verbs has proved that there can be some logic employed in order to demystify the concept of phrasal verbs in both teaching and learning. On the basis of my knowledge gained from this analysis, I introduced certain changes in the teaching practice of the phrasal verbs at C1 in my classroom. I realize that if the students are introduced with the four difficulties framework and taught how certain grammatical and lexical features of phrasal verbs influence their understanding, the process of their acquisition can be easier. I have made certain changes in the way how I teach them and how I organize the tasks. Concerning teaching aspect, I stopped viewing phrasal verbs as a separate unit in the text in the textbook. I have made a worksheet that exemplifies these four difficulties and also a list of all of them in the book. The list is given to the students at the beginning of the course, to be glued at the back of the notebook. So, I use the provided list as a supplementary material for students and I refer to it every time when we come across a new phrasal verb during the progress of the course. The list can be used as the means to organize tasks that urge the students to use phrasal verbs in the context and engage them in the process of learning: Task 1: All the students can be asked to provide the examples with all the meanings offered for each phrasal verb from their life and write them down in the table or on a separate sheet of paper. Task 2: They can be used for speaking or writing tasks (to make a story or to tell a story). This particular task can be raised to a higher level in groups or pairs to make or write the story with chosen phrasal verbs but to give to each group/pair a different meaning of the chosen phrasal verbs. By doing that they can see how different meaning of phrasal verbs influence the course �of the story and they analyze and comment on that. This activity involves higher levels of thinking skills that would eventually contribute to the higher level of retention of these phrasal verbs, especially because the students provide the context for them by themselves. Task 3: One of common demands at C1 level is to transfer formal texts into informal. Informal texts frequently contain a number of phrasal verbs. An additional list can be made for all of these phrasal verbs with their formal/academic counterparts. On the basis of this list tasks can be designed to engage students in producing sentences or texts where they could practice these phrasal verbs in formal and informal context. For example, the story they created in the Task 2 can be turned into a newspaper article or some other more formal form. There are other methods proposed by some other authors that dealt with the difficulties concerning the teaching and learning of phrasal verbs. At lower levels teachers can mime phrasal verbs so that students guess or understand their meanings more easily. For students at higher levels, brainstorming synonyms might be a good extension to the activity on acquiring of phrasal verbs. Students with prominent visual intelligence may have an advantage of learning to associate actions with specified phrasal verbs. According to Celce-Murcia and Larsen-Freeman (1996:437), each time a new phrasal verb is introduced or discovered, it should be written up on a large sheet of paper posted to a wall in the classroom. The learners label a new phrasal verb appropriately for its separability and transitivity. If possible, the picture representing the meaning can be pasted. A one-word synonym can also be written next to the phrasal verb, and where appropriate learners can label the register used. Finally, the learners should write at least one or two example sentences using the new phrasal verb 5. Conclusion English is known for its use of many phrasal verbs which is why it is important to learn them thoroughly. Phrasal verbs are very common in English. Students who are learning English as a second language with the aim of gaining their Certificate in Advanced English need to give a great deal of attention to phrasal verbs. It is no easy task. But using a phrasal verb correctly is not only a matter of knowing its meaning; the learner also has to learn its grammar. Although phrasal verbs can undoubtedly cause problems for learners, in each context the form is similar, but the meaning changes. The particular meaning of the phrasal verb often determines the order of its component parts in a sentence. There are no rules that might explain how phrasal verbs are formed correctly - all you can do is look them up in a good dictionary and study their meanings. References: Celce-Murcia, M., Larsen-Freeman, D (1996). The Grammar Book: An ESL/EFL Teacher`s Course, Second Edition. Heinle&heinle Publishers. �Cowan, R. (2008). The Teacher`s Grammar of English: A Course Book and Reference Guide. Cambridge, Cambridge University Press. McCarthy, M, O`Dell, F, (2004). English Phrasal Verbs in use. Cambridge University Press, Cambridge. Quirk, R. et. al. (1985) A Comprehensive Grammar of the English Language. London and New York: Longman. Thornbury, S. (2006). An A-Z of ELT. Macmillan Dictionaries: Collins Cobuild Dictionary of Phrasal Verbs. (1997). London-Glasgow, HarperCollins Publishers. Longman Phrasal Verbs. (2009). Longman Oxford Phrasal Verbs Dictionary for learners of English. (2002). Oxford University Press. The Dictionary of Phrasal Verbs. (2006). Oxford University Press. � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 3258 Title A name given to the resource The meaning and use of phrasal verbs at C1 level Author Author Mirkovic, Djukica Abstract A summary of the resource. Despite the fact that phrasal verbs are used in everyday English, foreign learners avoid learning and using them for their complexity and impossibility to understand the meaning of a phrasal verb from its separate parts (a verb itself and a particle separately). As a result of that many learners at C1 level, although being fluent speakers, experience various difficulties using them. The focus of the paper is placed on the meaning and the use of phrasal verbs and the difficulties which students find at C1 level of the English language. The analysis in this paper is based on the phrasal verbs used in the book “Objective CAE” (O`Dell & Broadhead, 2008, Cambridge University Press). In this paper we are also interested in finding out why it is so difficult to understand and use phrasal verbs, the interaction between their meaning and understanding considering their polysemоus features. The results of this analysis may be useful for all ESL teachers to help them understand the difficulties their students face when dealing with phrasal verbs, especially at C1 level. Furthermore, it can be a valuable source for teachers how to introduce the phrasal verbs to their students and thus help them master phrasal verbs in both spoken and written discourse. Keywords: phrasal verb, meaning, use, difficulty, English. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2016-03-13 Keywords Keywords. Article PeerReviewed PE English https://omeka.ibu.edu.ba/files/original/ec68975b424ad163254e237012924151.pdf a0d6aabc8c5210a4c8eb712a95a3c686 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo The Measurement of Brand Personality in the City Brand: a case of Kayseri Emin Emirza Melikşah University, Kayseri, Turkey eemirza@meliksah.edu.tr İdris Seri University of Keele i.seri@gmail.com Cities all over the world use several conduits to promote themselves to relevant audiences such as investors, visitors and residents and in their efforts they commonly include striking logos and captivating slogans that feature in welcoming websites and advertising campaigns in national and international media. Because of those, city branding has in recent years become a prevailing activity within city management. Also brand personality component is major component of city brand identity. In this context, the main subject of the study is to evaluate brand personality dimensions of Kayseri city. This paper first describes the rise of city branding and the essentials of brand personality of city brand. Afterwards developed brand personality scale for products and service has been adapted to city branding. Sample of the study has been conducted at the universities in Kayseri. Data were collected via an online survey and face to face survey. Findings have been analyzed by factor and one way ANOVA analysis using SPSS 16 Program. Keywords: City Brand, Brand Personality, Brand Identity. 92 � https://omeka.ibu.edu.ba/files/original/0cfb1ef3c4c744749f43ef3e9570566f.docx c4aeeec49ea8d4b9a2e8114b9f011437 https://omeka.ibu.edu.ba/files/original/abaf6e2fca79f0233f994e2d0015215c.pdf c98f11c0dbc2ff954a2db9fdd75e2799 PDF Text Text International Conference on EconomicandSocialStudies (ICESoS’13), 10-11 May, 2013, Sarajevo The Measurement of Brand Personality in the City Brand: a Case of Kayseri EminEmirza MelikşahUniversity, Kayseri, Turkey eemirza@meliksah.edu.tr İdris Seri University of Keele i.seri@gmail.com Abstract Cities all over the world use several conduits to promote themselves to relevant audiences such as investors, visitors and residents and in their efforts they commonly include striking logos and captivating slogans that feature in welcoming websites and advertising campaigns in national and international media. Because of those, city branding has in recent years become a prevailing activity within city management. Also brand personality component is major component of city brand identity. In this context, the main subject of the study is to evaluate brand peronality dimentions of Kayseri city. This paper first describes the rise of city branding and the essentials of brand personality of city brand. Afterwards developed brand personality scale for products and service has been adapted to city branding. Sample of the study has been conducted at the universities in Kayseri. Data were collected via an online survey and face to face survey. Findings have been analyzed by using SPSS 16 Program. Keywords: City Brand, Place Marketing, Brand Personality, Brand Identity. 1. Introduction Branding has become one of the most powerful tools in marketing strategy. Classical theories of brand management generally focus on how companies can build strong consumer brands that differentiate one seller from another (Aaker, 1996; Kapferer, 1997). Traditionally brands have been considered as the means of establishing a desired position in the minds of the customers that through perceived added values (Brown, Shivashanker, and Brucker, 1989) could attract loyal customers that willingly pay a price premium for the product or service (de Chernatony and McDonald, 2003). The majority of contemporary branding theories have been developed with an eye to consumer markets. A city's brand is increasingly considered an important asset for urban development and an effective tool for cities to distinguish themselves and improve their positioning (Ashworth and Kavaratzis, 2009: 520). City branding has in recent years become a prevailing activity within city management. Cities all over the world use several tools to promote themselves to relevant audiences such as investors, visitors and residents and in their efforts they commonly include striking logos and captivating slogans that feature in welcoming websites and advertising campaigns in national and international media. There has been a general agreement among academics and practitioners that places can be branded in the same way as consumer goods and services. Place or Destination branding is 168 �International Conference on EconomicandSocialStudies (ICESoS’13), 10-11 May, 2013, Sarajevo a relatively new concept, however, and there is a lack of empirical academic research on the topic. This is in contrast to the increasing evidence in the press that branding, at least as a concept, is increasingly being applied to locations‟. Place branding, like place marketing in general, is impossible because places are not products, governments are not producers and users are not consumers. LiteratureReview Global Cities have endeavored differentiate themselves from each other, to assert their individuality in pursuit of various economic, political or socio-psychological objectives (Kavaratzis and Ashoworth, 2005: 506).In recent years cities are in search for new ways to promote themselves. Due to fast changes in technology and the shift from local to a globalized environment, cities are forced to compete with each other in order to be an attractive tourist destination, workplace, cultural rich place and much more (Kotler, 2002). Kavaratzis (2005:1) argues that the rising competition among cities might be seen as one of the effects of the globalization, which is visible in various forms and activity fields. The contemporary city has to be up dated continuously. In that sense cities develop strategies to support, to `sell` and advertise them within the global market. Literature survey reveals that there are mainly three approaches for promoting cities: cultural mega events, restoration and promoting heritage and the construction of iconic buildings (Hankinson, 2006, p.240; Kavaratzis, 2005:1). Among these approaches, construction of iconic buildings has been extensively utilized by many cities in order to get attention and attraction. The main motive behind this attempt is to create an identifiable image. There have been numerous studies of the promotion of individual and groups of places, since Burgess’ (1982) pioneering account of promotional media used in UK local authorities. Almost 20 years later Hankinson (2001) studied the practice of branding in 12 English cities, discovering that it was both widely used and little understood, which was a not altogether startling or indeed very helpful conclusion but is all too typical of many such investigations. Truemanet al., (2001: 8–13) struggled with this problem of transfer of conventional product brand analysis to places, oncluding that it was possible, „provided sufficient weight is given to different stakeholders‟. This is no more than a recognition that places have more varied „users‟, „owners‟ and „governors‟ than do commercial corporations and thus not only are the products more varied, so also are the goals of the producers and the utilities of the consumers. The two intrinsic weaknesses of stakeholder approaches, namely that the list will never be all-inclusive and the weighting between them crude, are so more evident with places than with commercial products as to effectively admit that the conditions can never be met. De Chernatony&Dall’Olmo Riley (1998) identify 12 perspectives on the definition of the brand found in the literature. After a critical examination of those perspectives, they suggest that „the brand is a multidimensional construct whereby managers augment products or services with values and this facilitates the process by which consumers confidently recognise and appreciate these values‟. The boundaries of the brand construct are, on the one side the activities of the firm and on the other side the perceptions of the consumers. The brand becomes the interface between these two. A branded product requires a brand identity, a brand differentiation and a brandpersonality (Aaker 1996). These are not so much separate attributes as re-statements of the same feature from different perspectives. Identifying and clarifying the brand 169 �International Conference on EconomicandSocialStudies (ICESoS’13), 10-11 May, 2013, Sarajevo identity, or the core identity, is in itself an instrument of differentiation of one product from another and recognising its brand positioning, that is its relationship to competing products within a defined competitive arena. The process of product branding is both creative initiation and careful maintenance. Places can be easily assumed to possess the above characteristics of identity, differentiation and personality and can thus be managed to maximise equity, value and awareness. However, whether the terms suffer a significant shift in meaning when applied to place products remains to be considered. The importance of the image for the consumer or user of the place is what connects city branding to cultural geography. It also focuses upon the ever-necessary consumer orientation. We think of the place from the viewpoint of the end user; in terms of the way they sense, understand, use and connect to the place. All branding tries to endow a product with a specific and more distinctive identity (Cova, 1996) and that is, in essence, what most city marketing to do for cities. A place needs to be differentiated through unique brand identity if it wants to be first, recognised as existing, second, perceived in the minds of place customers as possessing qualities superior to those of competitors, and third, consumed in a manner commensurate with the objectives of the place. Thus identity, differentiation, personality and thereby positioning in competitive arenas are all transferable concepts as long as the implications of this transfer are fully understood. By this we mean that we can accept places as brandable products if their intrinsic and distinctive characteristics as place products are understood and a special form of marketing developed which accommodates and utilises these characteristics. Much of the literature from marketing specialists is not encouraging in these respects. There are at least three different sorts of place branding which are often confused in the literature, but which are really quite different operations conducted by different types of producers for widely different objectives. The first is geographical nomenclature, the second, product-place co-branding and the third, branding as place management. Geographical nomenclature is merely where a physical product is named for a geographical location. The archetype is the sparkling wine „Champagne‟. City Brand Perssonality In consumer behavior research, a considerable amount of attention has been given to the construct brand personality, which refers to the set of human characteristics associated with a brand. Researchers have focused on how the personality of brand enables a consumer to Express his or her own self (Belk 1988), an ideal self (Malhotra 1988), or specific dimentions of the self (Kleine, Kleine, and Kernan, 1993) through the use of a brand. The work of Aaker (1997) inspired the majority of the research on brand personality to date. He meticulously developed a 44 item Brand Personality Scale which encompasses five broad dimensions: Sincerity, Excitement, Competence, Sophistication, and Ruggedness. The scale has served as a brand personality measure in many studies and its factor structure proved to be robust in several of them (Aaker, 1997; 1999; Aaker, BenetMartinez, and Garolera, 2001; Kim, Han, and Park, 2001). However, Aaker‟s scale has recently received criticism on several grounds. 170 �International Conference on EconomicandSocialStudies (ICESoS’13), 10-11 May, 2013, Sarajevo Brand Identity, Brand Image and Brand Personality Kapferer (2008) defines brand identity as a brand‟s meaning as put forward by the firm. It is the way a company wants to present its brand to its target groups. Brand image, on the other hand, is the consumers‟ perception and interpretation of the brand‟s identity (De Pelsmacker, Geuens, & Van den Bergh, 2007). Academics typically conceptualize brand identity and image as multi-dimensional constructs of which brand personality is an important component. Keller (2008), for example, defines brand image as consisting of (1) user profiles, (2) purchase and usage situations, (3) personality and values, and (4) history, heritage and experiences. Aaker and Joachimsthaler (2000) organize brand identity elements around four perspectives: (1) the brand as a product, (2) the brand as an organization, (3) the brand as a person, and (4) the brand as a symbol. Personality in Human Personality Scales Psychologists define the substance of personality as „the systematic description of traits‟ (McCrae and Costa, 1987: 81), where traits are „relatively enduring styles of thinking, feeling, and acting‟ (McCrae and Costa, 1997: 509). After decades of research on a taxonomy of human personality, consensus now rests upon five dimensions that provide a complete description of personality: (1) Extraversion or Surgency (talkative, assertive, energetic), (2) Agreeableness (good-natured, cooperative, trustful), (3) Conscientiousness (orderly, responsible, dependable), (4) Emotional Stability versus Neuroticism (calm, not neurotic, easily upset), and (5) Openness or Intellect (intellectual, imaginative, independent-minded) (John &Srivastava, 1999). The “Big Five” dimensions are a result of analyses of the natural language terms humans use to describe themselves and others (Goldberg, 1993). Although the development of the Big Five was not theory-driven, most important personality constructs as put forward by personality theorists as diverse as Jung, Leary, Guilford, and Eysenk, are integrated in the Big Five structure, which increased trust in the Big Five (Sanz, Gil, Garcia-Vera, and Barrasa, 2008). One of the cornerstones of marketing thought is undoubtedly consumer orientation; thinking about the product, the company and the way we „do business‟ from the consumer‟s viewpoint. In city marketing and especially in the case of the city‟s existing residents, consumer‟s orientation would have to be how the residents encounter the city they live in, how they make sense of it, which physical, symbolic or other elements they evaluate in order to make their assessment of the city. The field of cultural geography has dealt with such matters and has developed an understanding, which is useful at this point. Empirical study: A Survey In Kayseri This study has two aims: First, to develop personality items of city brand and to apply over the city of Kayseri, Turkey. Second, to measure brand personality of Kayseri and to share the outputs of the study with municipality and non govermental organizations of Kayseri, such as chamber of Commerce and Industry. Consequently, we will contribute to branding identity of Kayseri. The city of Kayseri, in middle of Anatolia became the location of four universities; namely Erciyes which was established in 1979, Meliksah (foundation University) which was 171 �International Conference on EconomicandSocialStudies (ICESoS’13), 10-11 May, 2013, Sarajevo established in 2009, NuhNaciYazgan (foundation University) which was established in 2010 and Abdullah Gul (state) which was established in 2011, in the last five years. This development earns a new brand to Kayseri; namely the city of universities. According to YOK‟s Higher Education data, today approximately fifty thousands students study in these universities. And nearly twenty thousand students come from outside Kayseri. Hence, Kayseri becomes the city of universities. Before that Kayseri brand has known to be the home of the many industrial factories, and pastırma, manti and sucuk. Subjects, non-native students of Kayseri, were only asked to answer the survey about native people of Kayseri.Basically, We focused on merely native people of Kayseri. Because native people of Kayseri can represent distinctive Kayserian‟s image very well to non-native students. In the first part of the questionnaire, brand personality scale of the city of Kayseri was generated using brand personality dimensions and traits developed by Aaker (1999), Mervielde (1982), Saucier (1994), and Costa and McCrae (1992). In the second part, students were asked to tell the first three things which come to their mind when they hear the name of Kayseri. In the fourth part, demographic data regarding students‟ age, gender, duration of stay in Kayseri, income status, hometown, university and faculty were recorded. 13 variables regarding satisfaction and 16 personality traits were rated according to 5-point Likert scale. Positive or negative perception of each variable were measured through following answers: strongly agree (4 points), agree (3 points), undecided (2 points), disagree (1 point), strongly disagree (0 points). The mean of each 15 personality traits and its standart deviations were calculated in the range of 0-4 according to the demographic variables . After that, they are compared in Tables.The city of Personality items have been analysed in three groups and commented : Personality items which are rated 3,00 and over (strong perception),those which are rated between 2,00 and 2,99 (unsure perception), and those who are rated below 2,00 (weak perception). The research was conducted in order to evaluate how the city of Kayseri and the native population of Kayseri are perceived by the non-native students. Taking into account the constraints of time, costs and accessibility, a sample size of 800 participants was thought to be sufficient for the study. This study will form the basis of a larger study in the future. In this first phase of the study, the perceptions of Turkish students (non-notive) from outside Kayseri have been evaluated. In the second part of the research, foreign students‟ perception of Kayseri will be evaluated and analyzed. Before the actual survey conducted, questions of the questionnaire was revised through pilot studies; consequently, reliability factor was increased. The survey was conducted at Erciyes University and Meliksah University. In order to gather data, the questionnaire forms were hand-delivered to students, who wanted to participate, at two universities and also a copy of the questionnaire was uploaded at Google Drive so that it was shared using social media by students. The collected data were analysed using SPSS 15.0 program. Method and Findings In the study, firstly, frequency distributions of demographic data, which allow us to get to know the students more closely, were analysed. Secondly, data, which was obtained 172 �International Conference on EconomicandSocialStudies (ICESoS’13), 10-11 May, 2013, Sarajevo through brand personality scale, are averaged out of 4.00 and analysed through comparing demographic data. Thirdly, students' level of satisfaction regarding the city of Kayseri were measured and later significant or meaningful differences -if there are any- between the groups were examined. And fourthly, students‟ open-ended statements about Kayseri were interpreted through content analysis. 1. Sample There are four universities in Kayseri. 3 of them (one is a state university, two are foundation universities) admit students and continue teaching for the 2012-2013 academic year. There are fifty-thousand students who receive education at the undergraduate, graduate and postgraduate levels at these universities Students coming from outside Kayseri, which form the main body of the study, make up 40% of the total number of university students in Kayseri. Therefore, our research pool consists of approximately 20 thousand students. Through random sampling, 285 domestic and 79 foreign students have been surveyed. After screening the completed questionnaires, some are regarded as dubious; and at the end, the forms of 267 Turkish students were evaluated. As mentioned earlier, in this study, perceptions of Turkish students from outside Kayseri was evaluated, however perceptions of foreign students who participated in the survey were excluded. 2. Analysis Students participating in the survey are classified according to their gender, university, accomodation type, population size of the city which they come from and duration of stay in Kayseri. Table 1 shows the frequency distribution of the groups. As seen on the table, among the 267 students, 59% (160) are male and 41% (107) are female. Moreover, 39% (104) of the participants study at Erciyes University while 61% (163) study at Meliksah University. At the time of the study, there was not enough data collected from NuhNaciYazgan University and Abdullah Gul University had not started admitting students. Consequently, these universities have not been included in the study. As a methodological approach, based on the brand personality theories, 15 personality traits for Kayseri were identified. After that, the participants were told to think Kayseri as human being and asked to asses the personality traits. These 15 personality traits were rated out of 4, standard deviations were calculated; and according to the demographic variables they are compared in Table 2, Table 3, Table 4 and Table 5. 173 �International Conference on EconomicandSocialStudies (ICESoS’13), 10-11 May, 2013, Sarajevo Table 1.The Frequency distributiution of Demografic Factors. Demographic Faktors Male Female Gender Total Melikşah University Erciyes Total State Dormitory Private Dormitory Accomodation Rent home (n) 160 107 267 163 104 267 27 132 108 267 Total Bigger cities than Kayseri 113 Population of Smaller cities than 154 the city Kayseri (Homeland) 267 Total Less then one year 70 2-4 year 152 Living time in Five or more then five Kayseri 45 year 267 Total (%) 59 41 100 61 39 100 10,11 49,44 40,45 89,89 42,33 57,67 100 26,22 56,93 16,85 100 Notable aspects of personality traits could be analysed in three groups: Personality traits which are rated 3,00 and over, those which are rated between 2,00 and 2,99, and those who are rated below 2,00. Among the 15 personality traits, which were rated by the students, only the statement “(The people of Kayseri) like showing off” received a score above 3,00 (strong perception). Throughout all of the demographic variables, students clearly believe the people of Kayseri like showing off. The personality traits, which are rated between 2,00 and 2,99 by the students, are “disciplined”, “economical”, “hard working”, “enterprising”, “organized” and “loyal”. Among these, the highest rated (2,80) trait is “economical”. 174 �International Conference on EconomicandSocialStudies (ICESoS’13), 10-11 May, 2013, Sarajevo Table 2:According to Gender, City of Kayseri Personality Perception of TheStudents Male Female No Personality Factors Std. Std. Mean Mean Deviation Deviation 1 People in Kayseri has discipline at work. 2,556 1,114 2,664 0,911 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Tolerant towards different cultures an ideas. In general, they are hardworking. They don‟t like extravagant (sparing). They are enterpreneur and pioneer. Çlose to each other and friendly to students. They are sophisticated people. They are generous to each other and students. They are modest. They areopen to dialog and adaptable. They are modern people. They are planned. they are trustworthy. They care about social responsibility They like showing up. 1,763 2,488 2,913 2,569 1,775 1,850 1,456 1,581 1,900 1,694 2,356 1,988 1,763 3,288 1,221 1,070 1,184 1,164 1,259 1,134 1,170 1,241 1,204 1,229 1,205 1,264 1,216 1,151 1,972 2,794 2,682 2,617 1,907 2,047 1,579 1,897 2,215 1,897 2,542 2,121 1,916 3,402 No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 1,014 0,821 1,162 0,987 1,095 1,085 1,182 1,009 0,901 1,055 0,924 0,997 0,982 0,930 Table 3: According to University, TheCitiy of Kayseri Personality Perception of TheStudents MelikşahÜniv ErciyesÜniv Personality Factors Std. Std. Mean Mean Deviation Deviation People in Kayseri has discipline at work. 2,577 1,116 2,635 0,904 Tolerant towards different cultures an ideas. 1,779 1,222 1,952 1,009 In general, they are hardworking. 2,503 1,068 2,779 0,824 They don‟t like extravagant. 2,908 1,185 2,683 1,160 They are enterpreneur and pioneer. 2,564 1,166 2,625 0,977 Çlose to each other and friendly to students. 1,791 1,259 1,885 1,091 They are sophisticated people. 1,871 1,139 2,019 1,079 They are generous to each other and students. 1,485 1,183 1,538 1,165 They are modest. 1,601 1,245 1,875 1,002 They areopen to dialog and adaptable. 1,914 1,204 2,202 0,896 They are modern people. 1,699 1,238 1,894 1,033 They are planned. 2,368 1,212 2,529 0,903 they are trustworthy. 2,006 1,264 2,096 0,990 They care about social responsibility 1,779 1,217 1,894 0,975 They like showing up. 3,301 1,145 3,385 0,938 The personality traits, which are rated below 1,99 by the students are “tolerant”, “friendly”, “versatile”, “generous”, “modest-humble”, “adaptable”, open to change” and “sharing”. 175 �International Conference on EconomicandSocialStudies (ICESoS’13), 10-11 May, 2013, Sarajevo Among these traits, the lowest rated (1,46) trait is “generous towards students and the community”. This was followed by statements in the order of; "modest and humble", "open for new experiences and adaptable", "sharing the gains of the society", “closer to each other and to students”, and “higly versatile in terms of capabilities”. In the study, the statement “(Kayseriens‟) like showing off” received the highest point, while the statement “(Kayseriens‟) are modest and humble” received a low point. The consistency in these two results is a sign that students answered the questions carefully. Table 4: According to Homeland (Bigger or smaller than Kayseri)The City of Kayseri Personality Perception of TheStudents. Smaller than Bigger than Kayseri Kayseri No Personality Factors Std. Std. Mean Deviation Mean Deviation 1 People in Kayseri hasdiscipline at work. 2,575 1,076 2,617 1,011 2 Tolerant towards different cultures an ideas. 1,708 1,170 1,948 1,119 3 In general, they are hardworking. 2,619 0,957 2,604 1,012 4 They don‟t like extravagant. 2,850 1,212 2,799 1,157 5 They are enterpreneur and pioneer. 2,655 1,084 2,539 1,103 6 Çlose to each other and friendly to students. 1,761 1,144 1,877 1,233 7 They are sophisticated people. 1,850 1,071 1,987 1,149 8 They are generous to each other and students. 1,460 1,195 1,539 1,161 9 They are modest. 1,673 1,073 1,734 1,226 10 They areopen to dialog and adaptable. 1,938 1,136 2,091 1,075 11 They are modern people. 1,602 1,177 1,903 1,142 12 They are planned. 2,283 1,089 2,539 1,103 13 they are trustworthy. 2,088 1,154 2,006 1,174 14 They care about social responsibility 1,717 1,138 1,903 1,119 15 They like showing up. 1,093 1,052 3,301 3,357 176 �International Conference on EconomicandSocialStudies (ICESoS’13), 10-11 May, 2013, Sarajevo Table 5:According to Period of Stay, The City of Kayseri Personality Perception of TheStudents 1 year and 2-4 years / 5 years and over under / n= 70 n= 153 / n= 44 No Personality Factors Std. Std. Std. Mean Deviation Mean Deviation Mean Deviation People in Kayseri hasdiscipline at 1 work. 2,64 1,10 2,59 0,95 2,57 1,23 Tolerant towards different cultures an 2 ideas. 1,81 1,12 1,83 1,15 1,95 1,18 3 In general, they are hardworking. 2,50 1,07 2,70 0,91 2,48 1,09 4 They don‟t like extravagant. 2,67 1,26 2,86 1,14 2,93 1,19 5 They are enterpreneur and pioneer. 2,44 1,07 2,61 1,06 2,73 1,23 Çlose to each other and friendly to 6 students. 1,61 1,22 1,82 1,18 2,18 1,17 7 They are sophisticated people. 1,69 1,04 2,05 1,10 1,89 1,24 They are generous to each other and 8 students. 1,49 1,21 1,50 1,15 1,55 1,21 9 They are modest. 1,76 1,21 1,65 1,14 1,82 1,17 They areopen to dialog and 10 adaptable. 1,99 1,08 2,03 1,12 2,07 1,09 11 They are modern people. 1,89 1,12 1,73 1,13 1,75 1,35 12 They are planned. 2,49 1,10 2,48 1,05 2,18 1,28 13 they are trustworthy. 2,09 1,14 1,91 1,13 2,43 1,25 14 They care about social responsibility 1,81 1,13 1,77 1,10 2,02 1,23 15 They like showing up. 3,16 1,12 3,44 0,97 3,23 1,27 Conclusions The city of Kayseri, in accordance with the vision of Turkey in 2023, make strides in the areas of industry, tourism and education on national and international levels. For this reason, the city of Kayseri, local government, chambers of commerce and industry and a large number of opinion leaders frequently make assessments of the current situation and take new decisions/resolutions. In this context, this research suggests that all the efforts that put forth for Kayseri should be designed to contribute to a perception of the city brand, and also searches how Kayseri‟s brand personality is perceived. Since the study covers students who are from outside Kayseri, the results may not reflect the general perception; however, considering their social and economic potentials, university students are regarded as potential ambassadors to Kayseri in the their home cities. For this reason, the findings of this study are important. One of the most important results that emerged from assessing the findings is that Kayseri is not perceived by students as it is ought to be. For example; generally people of Kayseri are known for their philanthrophy but this trait is little known or recalled by the participant students. Moreover, generosity of the people of Kayseri is called into question and there is a strong perception that the people of Kayseri like showing off. Regarding this issue, it would not be wrong to argue that institutions and organizations of Kayseri have been inefficient in their interaction with the 177 �International Conference on EconomicandSocialStudies (ICESoS’13), 10-11 May, 2013, Sarajevo students. Perhaps the most important recommendation that can be made is for municipality and other non-governmental organizations to establish closer relations with student clubs, to include university students in their activities or to support student activities through sponsorships. Aiming for socio-economic growth, industrialists and businessmen of Kayseri must develop employability and make institutional reformations in order to reverse the brain drain. Although it is not the subject of this study, it should be noted that the most important reasons for the brain drain are low wage policies and the fact that Kayseri‟s private sector has no corporate culture. References Aaker, J.L. (1997). Dimensions of brand personality.Journal of Marketing Research, 34(August), pp. 347-356. Aaker, J.L., Benet-Martinez, V., &Garolera, J. (2001). Consumption of symbols as carriers of culture: A study of Japanese and Spanish brand personality constructs. Journal of Personality and Social Psychology, 81(September), pp. 492-508. Aaker, D., and Joachimsthaler, E. (2000).Brand leadership.New York: Free Press. Aaker, J.L. (1997). Dimensions of brand personality.Journal of Marketing Research, 34(August), pp. 347-356. Aaker, J.L. (1997). Dimensions of brand personality.Journal of Marketing Research, 34(August), pp. 347-356. Brown, H. E., Shivashanker, R., &Brucker, R. W. (1989).Requirements driven market segmentation. Industrial Marketing Management, 18(2), pp. 105–112. Costa, P.T., & McCrae, R.R. (1992).Revised NEO Personality Inventory (NEO-PI-R) and NEO Five-Factor Inventory (NEO-FFI): Professional manual. Odessa: Psychological Assessment Resources. De Pelsmacker, P., Geuens, M., & Van den Bergh, J. (2007).Marketing Communications (3rd ed.), London: Pearson Education. Geuens, M, Weijters, B, Wulf, K. (2008) “A New Measure of Brand Personality”, Decembe, Universiteit Gent, FaculteitEconomie En Bedrijfskunde, D. 2008/7012/54. Goldberg, L.R. (1993). “The structure of phenotypic personality traits.”American Psychologist, 48(1), pp. 26-34. Hankinson,G.(2006).The management of destination brands: Five guiding principles based on recent developments in corporate branding theory. Brand Mangagement,Vol.14, No.3, pp. 240-254. John, O.P., &Srivastava, S. (1999). “The Big Five trait taxonomy: history, measurement and theoretical perspectives”. In L.A. Pervin, & O.P. John (Ed.), Handbook of Personality (pp. 102-138). New York/London: The Guilford Press. Kapferer, J.N. (2008). The new strategic brand management (4th edition). London: Kogan Page. Kavaratzis,M.(2005). Branding the City through Culture and Entertainement.AESOP 05, Vienna, 2005. Kavaratsiz, M. and Ashoworth, G. J. (2005).City Branding: An Effective Assertion of Identity or a Transitory Marketing Trick”TijdschriftvorEconomische en SocialeGeografie, Vol. 96, No. 5, pp. 506–514. Keller, K.L. (2008), Strategic Brand Management. Building, Measuring, and Managing Brand Equity (3rd edition).Upper Saddle River, NJ: Prentice Hall. 178 �International Conference on EconomicandSocialStudies (ICESoS’13), 10-11 May, 2013, Sarajevo Kotler, P. and Gertner, D. ( 2002 ).Country as a brand, product and beyond: A place marketing and brand management perspective, Journal of Brand Management , Vol. 9 , No. 4 – 5 , pp. 249 – 261. Lynch, K.(1960). The Image of the City. Cambridge: MIT pres. McCrae, R.R., & Costa, P.T. (1997).Personality trait structure as a human universal.American Psychologist, 52(May), pp. 509-516. Mervielde, I. (1992). The B5BBS-25: “A flemish set of bipolar markers for the big-five personality factors”. PsychologicaBelgica, 32(2), pp. 195-210. Sanz, J., Gil, F., Garcia-Vera, M.P., &Barrasa, A. (2008). Needs and cognition/behavior patterns at work and the Big Five : an assessment of the personality and preference inventory-normative (PAPI-N) from the perspective of the five-factor model. International Journal of Selection and Assessment, 16(1), pp. 46-58. Saucier, G. (1994).Mini-markers: A brief version of Goldberg's unipolar big-five markers. Journal of Personality Assessment, 63(December), pp. 506-516. Sipahi, B., Yurtkoru, S.E. veÇinko, M. (2008). SosyalBilimlerdeSPSS‟leVeriAnalizi, Beta Yayınevi, 2. Baskı. 179 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1567 Title A name given to the resource The Measurement of Brand Personality in the City Brand: a case of Kayseri Author Author EMIRZA, Emin SERI, Idris Abstract A summary of the resource. Cities all over the world use several conduits to promote themselves to relevant audiences such as investors, visitors and residents and in their efforts they commonly include striking logos and captivating slogans that feature in welcoming websites and advertising campaigns in national and international media. Because of those, city branding has in recent years become a prevailing activity within city management. Also brand personality component is major component of city brand identity. In this context, the main subject of the study is to evaluate brand personality dimensions of Kayseri city. This paper first describes the rise of city branding and the essentials of brand personality of city brand. Afterwards developed brand personality scale for products and service has been adapted to city branding. Sample of the study has been conducted at the universities in Kayseri. Data were collected via an online survey and face to face survey. Findings have been analyzed by factor and one way ANOVA analysis using SPSS 16 Program. Keywords: City Brand, Brand Personality, Brand Identity. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 978-9958-834-23-3 https://omeka.ibu.edu.ba/files/original/6833b8b725c6a23f2ed6da1eacafa261.pdf 5dc0bd4b90883e051bbcc4c726d3fef5 PDF Text Text 1st International Conference on Foreign Language Teaching and Applied Linguistics May 5-7 2011 Sarajevo THE METONYMS AND DEAF CHILDREN Ljubica Isakovic ljubicaisakovic07@gmail.com Serbia, University of Belgrade, Faculty of Special Education and Rehabilitation Prof. Nadezda Dimic Serbia, University of Belgrade, Faculty of Special Education and Rehabilitation ndimic@open.telekom.rs Prof. Vesna Polovina Serbia, University of Belgrade, Faculty of Philology polovinav@fil.bg.ac.rs Abstract: Language is an abstract system of symbols, which is concretely realized by way of speech, writing and signing. Difficulties in speech and communication in deaf children cause problems in their social, emotional and cognitive development. Deaf children show inadequate results on semantic tests due to their inadequate knowledge of the language, the level of concreteness and underdeveloped linguistic associations. These problems can be for the most part overcome with the adoption of sign language. The aim of our study was to evaluate the meanings of certain words and their association by deaf children, attending grades six to eight-24 students; as well as to establish the development of the category of metonym words. We also wanted to examine the strength of the relationship between the knowledge of sign language and the level of knowledge of this category of words, if one existed at all. The study incorporated a segment of the Semantic Test by S. Vladisavljevic. Pupils were given 20 words-notions (snail, gold, snake, deer, flower, drop, fair, fox, rock and rabbit) and it was requested of them to give all possible meanings for those words. A qualitative and quantitative analysis was completed of the obtained linguistic material. The obtained results showed a partial influence of the pupil‘s age and the level of knowledge of metonyms. Also, it was observed that better knowledge of sign language affects the results of the deaf pupils, i.e. they had better speech and understanding of word meanings. Key words: metonyms, semantic, speech, writing, signing language, deaf children Introduction Semantics is the study of meanings within a language and it is concentrated on the phenomenon how people exchange words with one another within the scope of their language. When referring to the number of words which individuals make use of in their daily lives we observe that in the population of educated people in developed societies this number is approximately twenty thousand. Whereas, it is important to differentiate between active and passive lexicon, that is, the words we use ourselves and the ones we understand, precisely or roughly, although we do not utilize them. A word as a unit of a vocabulary (lexicon) of a language with all of its grammatical forms and possible phraseological extensions is called a lexeme. Lexicon is the speakers‘ use of a certain vocabulary and the correct usage of listed words in practical situations. It also includes specific components of selection restrictions, which are the rules which define the types of words that can be combined together when forming a sentence (Dimic, 1996). Vocabulary building is the most tangible characteristic of language acquisition in the first months of life. From the moment when the first word is identified, steady lexical development in both the understanding and production of a language is effectuated. It is considered that a child of 18 months can produce about fifty words and understand about five times as many words. Around the second year the spoken vocabulary surpasses 200 words. During the third year, there occurs an impressive growth in the scope and diversity of vocabulary, and that to an extent where precise calculations (especially relating to understanding of the vocabulary) or establishing the norm of the spoken lexical frequency have shown to be impossible. After six years of age, children develop the ability to use 758 �1st International Conference on Foreign Language Teaching and Applied Linguistics May 5-7 2011 Sarajevo figurative phrases and to understand dual meanings. In this latter period the ability of a child emerges to integrate a number of characteristics of semantic knowledge into one statement which represents a definition. Semantic development continues throughout the period of schooling, or better said an entire lifetime. There will always be new words that need to be learned and new meanings that need to be sought. Formation of notions in deaf children Many authors emphasize that the process of understanding the meanings of words always involves the ―selection of a meaning amongst many possible ones‖. The child does not choose a meaning of a word by himself. Instead, he obtains the meaning in the process of spoken communication with the environment that surrounds him. A child follows the speech of those who are older than him, thus adopting concrete word meanings, which are already established and given to him as such. The child does not create his own speech; instead it adopts the ―ready-made‖ speech of the adults surrounding him. Working with children on forming notions represents an important segment in working with deaf children. Correct formation of notions enables a deaf child to denominate the notions that exist in his mind, that is, for the child to find verbal expression and in that way enable him to free his thoughts from using gestures to signify activities or objects. New notions should be presented, whilst those already adopted should be continually expanded, so that they will become permanent property of the child. A child has adopted a notion, once it has come to understand that a word is only something that is used to signify an object, event or occurrence and that by using that word the child is transmitting its thoughts and feelings (Dimic, 2003). Deaf individuals have a hard time forming abstract notions, because their process of thought only unravels within the sphere of what can be seen. Although nouns are the word type most often found in the vocabulary of hearing impaired children, these children show difficulty in adopting abstract nouns. The obvious way of thinking and dominance of the visual factor, which are characteristic of the hearing impaired, play a crucial role in the formation of notions (Dimic, Isakovic, 2007). Savic (1996) provides particular set of principles relating to the formation of notions in deaf children and emphasizes their goal is for the notion to be ―unbound from a concrete object‖ and make it a source of thought development and adoption of notions of higher rank – abstract notions – which the child will use independently in all situations. Deaf individuals, who do not acquire speech in the process of live interaction, but instead by way of special education, often adopt only one, narrow meaning of a word and do not master ―flexible polysemy‖ of words which allows for the meaning to change in relation to the context. For this reason, the task of a deaf-mute child whence adoption a language doesn‘t not only consist of simple adoption of a certain vocabulary, instead multiple word meanings are pointed out in their use, as well as their various dictionary meanings (Luria, 1982). Prior to a word being understood as a sign for an object, it must first pass through the stage of representing an object characteristic and that it is an entity of its own. When it ―matures‖ the words is no longer associated with an object or activity, but stands on its own signifying an object or activity. Words can be understood at different levels of completeness of their meaning. One of the tasks of a teacher is to expand the meanings of already learned words, in accordance with age level. Sign and Verbal Linguistic Expression The most complex and precise means of communication is spoken language, which in addition to pronunciation - articulation has a written form as well – script. The simplest and most natural form of communication is gesture. Deaf children, in their expression, aside from spoken and written language primarily use sign language. Speech by way of sign is a main source of communication amongst deaf individuals. They, in their expression, in addition to spoken and written language primarily use sign language. Sign language is the natural language of the deaf, one that is spontaneously developed by them. Sign language has a significant stimulative role in the development of cognitive functioning. (Kovacevic, Isakovic, Dimic, 2010). ―Language, as an abstract symbolic system, is concretely effectuated by speech (most often), script (less of often) and gesture (most rarely). For the form (substance) by way of which language is concretely effectuated in linguistics is referred to with the term expression. Each of the three mentioned ways of effectuation of language has its advantages and disadvantages. They mutually supplement each other and the result is an individual‘s ability to communicate with other people and his need to communicate even in the most unfavorable conditions. (Kasic, 2000). ―In the development of individuals with hearing impairment gestures have a great significance. A deaf individual is a visual type and everything he learns and experiences is by way of sight. Optical pictures which they 759 �1st International Conference on Foreign Language Teaching and Applied Linguistics May 5-7 2011 Sarajevo receive from the outside world are concrete, direct, static or dynamic. They develop gestures as speech based on their own spontaneous movement and simulation of the environment. Communication by way of movement is the result of psychological development of a deaf child, and movement itself aid that development. Gestures are used to express static or dynamic characteristics of the content which is being spoken of. When enrolled into school a deaf child bears certain gestures which are specific to the family and only the family understands them. Once in school the child quickly learns the movements in its surroundings. Deaf children whose parents are also deaf, are socially and communicatively more developed than deaf children who have hearing parents when the come to school, because they have developed the ability to communicate by way of gesture.‖ (Dimic, 2002). Today, we know that sign languages have a structure that in their complexity can be compared with the structure of a spoken or written language. In different parts of the world varying sign languages are used and they are not mutually understandable. Different signs and different rules for their formation are used (different order of signs), as well as different sentence structures (Crystal, 1996). Should deaf children be thought sign language, is a very old question that has been the subject of many debates. The main argument against sign language is that it separates deaf individuals from everyone, except from those in their immediate small community. In that way they become marked, different and diverse and they are disabled from communicating with the hearing world. On the contrary, insisting on verbal speech, which is most often limited and difficult to understand for deaf persons, increases their isolation even more. Today, it is known that a deaf child, or a hearing child that has parents who are deaf, learns sign language as their ―mother tongue‖ and produces a level of manual awareness and refinement which differs from the awareness of deaf children with hearing parents or persons who can hear and who have learned sign language. Many studies show that early bilingualism of hearing impaired children (knowledge of sign language and spoken/written language) is of invaluable importance for their development. With the adoption of sign language problems in limited receipt of messages and restricted communication, are eliminated. Deaf children have higher self-esteem, are more communicative, more independent than others, and have more adequate reactions in various everyday life situations and show a lower level of frustration connected with their relations with the hearing population. Also, recent studies (Most, 2003) show that children that communicate using sign language show more variation and flexibility in their behavior, than they do when communicating using verbal speech. It is necessary to equally develop linguistic communication by way of both sign and spoken language and to not forget that children have a need to communicate in both languages. Study Goals The aim of this study was to examine the meanings of certain words and their associations in deaf children, enrolled in grades six to eight and to establish how the development of the metonym (those are words-stimulus which induce expression of transferable meaning) word category takes place. Also, we were interested to see the relationship between knowledge of sign language and the adoption level of this category of words, that is, if any existed. Instruments The study utilized a segment of the Semantic Test (S.Vladisavljevic). The pupils are given 10 nouns-notions by way of which the knowledge of the meaning of these words is tested, as well as their active use. The given nouns (for which we requested an adequate metonym) were: (snail, gold, snake, fawn, flower, drop, fair, fox, rock and rabbit). The pupils were asked to give all possible meanings for those words. Nouns have special significance in speech and language. They are used to express the most concrete and abstract meanings in a language, which cannot be expressed by any other type of word. Each positive answer is given one point. Sample The study was implemented at schools for deaf children in Belgrade. The study encompassed pupils attending grades six to eight (8 pupils from each grade). Methodology of data processing 760 �1st International Conference on Foreign Language Teaching and Applied Linguistics May 5-7 2011 Sarajevo In the review and processing of the data we used the statistic packaged for data processing SPSS 14.0. We applied the descriptive statistics procedure (mean score and SD, as well as statistical significance of the differences seen in the average values (t-test for dependent samples, for checking the significance of the differences at the level of the entire sample and non-parametric Mann-Whitney U-test for checking the statistical significance of differences between the students of varying grade levels). Study Results Quantitative analysis of the acquired data In analyzing the obtained results within the scope of the entire sample we observed that the minimal number of achieved points in spoken and sign language forms of expression was one (1), whilst the maximum number of points received was 12 (twelve) for (sign language) and 13 (thirteen) in (spoken form of expression). In comparing these results (Mspeech=7.4167 and Msign l. =6.7083 we did not observe any statistically significant differences Sig. (2-tailed) .208). There was also no statistically significant difference found when comparing the results between the pupils enrolled in different grades. Qualitative analysis of the acquired data The word: SNAIL Adequate responses were: small, slow, slowness Other received responses: animal, ugly, lazy, slow, goes slowly, weak, on foot. The greatest numbers of responses were given using sign language expression. The word: GOLD The received responses were: good, she is good, valuable, obedient The most common responses were: yellow, light, shiny, little chain, ring, earrings, necklace, beautiful, gorgeous, shines nicely, husband-wife (ring), gold-love-husband, chain, wedding, watch, money, expensive, cash, gold coin Inadequate responses were: glass, iron, silver, cute The word: SNAKE The given responses included: poisonous*, evil* (*given in both genders in Serbian/she is evil, he is evil) Other responses included; fast, animal, does not love, catch-bite, scare. As a wrong response, the word WOOD was seen. The word: FAWN Adequate response was gentle. The pupils gave the following responses: small, peaceful, cuddle, deer, female deer, scare, scare you, afraid of, beautiful, animal, Africa, slow, very cute. Specific and incorrect responses included: black, black color, white. The word: FLOWER The given answers were pretty, beautiful, smells, aromatic. Responses given often, but are incorrect: smells nice, beautiful flower, tulip, snowdrop, rose, green, yellow, plant, flowers, grows, pokes, girl-gift, happy, good. The word: DROP The adequate response was small, little. The pupils gave the following inadequate responses: in the nose, eye-nose, hat, scarf, when you drink medicine, water, rain falling, drink, wash hands, one, juice, drop for nose, drop for ear, drop for eye. The word: FAIR The pupils gave the following responses: crowded, very crowded. 761 �1st International Conference on Foreign Language Teaching and Applied Linguistics May 5-7 2011 Sarajevo Also characteristic are the responses: there is a big crowd at night lots, and during the day not; amusement park, super, because people love it, car fair, crash-car, many people, we play, car hit, merry-go-round, shooting range, trophy, carousel, park, drive car, swing, fire, merry, many people. For the given metonym some were observed as having no response. The word: FOX The sought response was cunning. Deaf pupils also gave the following responses: dangerous, lies, steals chicken, wild animal, loves to steal, steals eggs, thief, thief - meat, coward. All pupils gave a response to the given metonym. The word: ROCK Adequate responses given in sign language were: hard, solid, strong. Other inadequate responses given by deaf students: mountain, white, small-grey, rock, large rock, small, large, large boulder, strongest, stubborn. A certain number of children gave no response. The word: RABBIT The most common responses were: fast, going fast, very fast, scare, I scared, he is scares. The pupils also gave other responses: beautiful, not brave, runaway, cute, jumps, weak, escape, animal, hop, always runs away fast, running away, hungry. All pupils gave one or more responses to the given word. Conclusions: 1. 2. 3. 4. 5. 6. The obtained results show that there exist conformances in the development of certain notions and certain categories of words. Inadequate results of the deaf children on the semantic tests are due to the deficiency in their linguistic knowledge, concreteness and underdeveloped linguistic association. A large number of inadequate words were obtained that are specific for deaf children. It was observed that there exist great individual differences between deaf pupils of the same age level. The level of adoption of the tested categories of words grows with age, whilst the greatest increase in results is seen in the group of pupils attending grades 6 to 8, although this is not evident in the statistical significance calculations. With age the spoken and sign language form of expression reaches equilibrium and are equally successfully used. It can be said that better development of sign language affects the better results of deaf pupils in the spoken form of expression. Metonyms represent a difficulty, because children of this age group still have not sufficiently developed this form of linguistic thought. However, it was observed that deaf children better understand the transferable meaning of those words (notions) with which they have contact everyday at school. That pertains to concrete notions, characteristics of animals (snail, snake, fox, rabbit- which becomes part of everyday teachings from the earliest age, preschool level, through first songs, fairy tales, fables). References 1. 2. 3. 4. 5. Dimic, N.D, Isakovic, Lj., Kovacevic, T (2008). Words of opposite meaning in written and spoken language and in sign language, International conference, Role of the special educator and rehabilitator in the institutional and uninstitutional treatment of the children with special needs, Skopje, Macedonia, 2.-3. october, DimiĤ, D.N., KovaĦeviĤ T. (2004). 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Hoiting, N.& D.I. Slobin (2002). What a deaf child needs to see: Advantages of a natural sign language over a sign system. U R. Schulmeister & H. Reinitzer (ur.) Progress in sign language research: In honor of Siegmund Prillwitz. Hamburg: Signum. 267-277 Isakovic, Lj., Dimic, N., Kovacevic, T. (2008). Function of sign language, oral and written lexicon in deaf children, NHS2008-june 19-21-Cernobbio (Como Lake) Italy, Poster Session on Medical Reports, 216. IsakoviĤ, Lj. (2007). Some specific characteristics in the use of lexis in hearing impaired children and children who can hear (in Serbian), Beogradska defektolońka ńkola, Druńtvo defektologa Srbije, Beograd, 3, 17-32 IsakoviĤ, Lj., KovaceviĤ, T. (2009). Some semantics specifics at deaf and hard of hearing students (in Serbian), Istraņivanja u specijalnoj edukaciji i rehabilitaciji, Univerzitet u Beogradu, Fakultet za specijalnu edukaciju i rehabilitaciju, priredio prof. dr Dobrivoje RadovanoviĤ, Berograd, 313-331 KańiĤ, Z. (2000). Funkcija suprasegmenata u govornom izrazu, Beogradska defektolońka ńkola, 2 - 3, 113 123. KostiĤ, Đ., VladisavljeviĤ, S., PopoviĤ, M. (1983). Testovi za ispitivanje govora i jezika, Zavod za udņbenike i nastavna sredstva, Beograd KovaĦeviĤ, T. (2005). Razvijanje i bogaĤenje reĦnika dece ońteĤenog sluha na osnovnońkolskom uzrastu, Beogradska defektolońka ńkola, Beograd, 3, 1-16 KovaĦeviĤ, T., IsakoviĤ, Lj. (2010). Fairytales understanding based on sign language and verbal and written production (in Serbian), Smetnje i poremeĤaji: fenomenologija, prevencija i tretman, I deo, Univerzitet u Beogradu, Fakultet za specijalnu edukaciju i rehabilitaciju, Beograd, 269 – 281 KovaĦeviĤ, T., IsakoviĤ, Lj., DimiĤ, N (2010). Deficiency in sign language and speech in deaf and hard of hearing preschool age children (in Serbian), Beogradska defektolońka ńkola, ISSN 0354-8759, 1, 23-38 KovaĦeviĤ, V. (2000). OńteĤenje sluha i leksiĦko – semantiĦki razvoj, Zaduņbina AndrejeviĤ,Beograd Kristal, D. (1996). KembriĦka enciklopedija jezika, Nolit LazareviĤ D. (1999). Od spontanih ka nauĦnim pojmovima , Zavod za udņbenike i nastavna sredstva, Beograd Lurija, R. A. (1982). Osnovi neurolingvistike, Nolit, Beograd Lurija, R. A. (2000). Jezik i svest, Zavod za udņbenike i nastavna sredstva, Beograd, 2000. Most, T. (2003). The use of repair strategies: bilingual deaf children using sign language and spoken language, American Annals of the Deaf , Washington, Fall 2003. Vol. 148, Iss 4; pg. 308-315 OstojiĤ, S. (2004). Auditivni trening i razvoj govora nagluve dece, Defektolońki fakultet, Beograd Polovina, V., DimiĤ, N. (2010). Lexic-semantic relations in serbian sign language (in Serbian), Smetnje i poremeĤaji: fenomenologija, prevencija i tretman, I deo, Univerzitet u Beogradu, Fakultet za specijalnu edukaciju i rehabilitaciju, Beograd, 241 – 258 Prinz, P. M. (2002). Cross-linguistic perspectives on sign language and literacy development. U R. Schulmeister & H. Reinitzer (ur.) Progress in sign language research: In honor of Sigmund Prillwizt. Hamburg: Signum. 221-233. Quigley, S., Kretschmer, R.E. (1982). The education of the deaf children, Baltimore, University park Press Quigley S., Paul P. (1984). Language and Deafness, College Hill Press, San Diego, California SaviĤ, Lj. (1986). Metodika uĦenja govora gluve dece, Zavod za udņbenike i nastavna sredstva, Beograd Stokoe, W. (1993). Sign Langue Structure: An Outline of the Visual Communication Systems of the American Deaf, Studies in Linguistics, Occasional Papers 8, University of Buffalo Department of Antropology and Linguistics, Buffalo, 1960, Reprint, Linstok Press, Burtonsville, Md. Press Stuckless, R. & J. Birch (1966). The influence of early manual communication on the linguistic development of deaf children. American Annals of the Deaf. 106, 436-480. 763 �1st International Conference on Foreign Language Teaching and Applied Linguistics May 5-7 2011 Sarajevo 35. Valli, C., Lucas, C. (2000). Linguistics of American Sign language, Gallaudet Universitz Press, Washington, D.C. 36. VasiĤ, S. (1977). Govor u razredu, Prosveta, Beograd 37. Vigotski, L. (1996). DeĦja psihologija, Sabrana dela, tom Ħetvrti, Zavod za udņbenike i nastavna sredstva, Beograd 38. Vigotski, L. (1996). NauĦno nasleħe, Sabrana dela, tom ńesti, Zavod za udņbenike i nastavna sredstva, Beograd 39. VujasinoviĤ, Z., IsakoviĤ, Lj. (2007). Bilingual approach in the development of language with hearing impaired children of preschool age (in Serbian), Nove tendencije u specilalnoj edukaciji i rehabilitaciji, I nauĦni skup Univerziteta u Beogradu, Fakulteta za specijalnu edukaciju i rehabilitaciju, Beograd, 493 – 507 764 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 112 Title A name given to the resource THE METONYMS AND DEAF CHILDREN Author Author Isakovic, Ljubica Dimic, Prof. Nadezda Polovina, Prof. Vesna Polovina Abstract A summary of the resource. Language is an abstract system of symbols, which is concretely realized by way of speech, writing and signing. Difficulties in speech and communication in deaf children cause problems in their social, emotional and cognitive development. Deaf children show inadequate results on semantic tests due to their inadequate knowledge of the language, the level of concreteness and underdeveloped linguistic associations. These problems can be for the most part overcome with the adoption of sign language. The aim of our study was to evaluate the meanings of certain words and their association by deaf children, attending grades six to eight-24 students; as well as to establish the development of the category of metonym words. We also wanted to examine the strength of the relationship between the knowledge of sign language and the level of knowledge of this category of words, if one existed at all. The study incorporated a segment of the Semantic Test by S. Vladisavljevic. Pupils were given 20 words-notions (snail, gold, snake, deer, flower, drop, fair, fox, rock and rabbit) and it was requested of them to give all possible meanings for those words. A qualitative and quantitative analysis was completed of the obtained linguistic material. The obtained results showed a partial influence of the pupil‘s age and the level of knowledge of metonyms. Also, it was observed that better knowledge of sign language affects the results of the deaf pupils, i.e. they had better speech and understanding of word meanings. Date A point or period of time associated with an event in the lifecycle of the resource 2011-05 Keywords Keywords. Conference or Workshop Item PeerReviewed P Philology. Linguistics https://omeka.ibu.edu.ba/files/original/8258ab98e445ea4f736156bff82e58be.docx 8cd44424ac97f6d1ccca057599fd5464 https://omeka.ibu.edu.ba/files/original/a9d5a31d5400fc7648548f1aacceda77.pdf 2a32c7bd44aceecf59565cedf9204f8d PDF Text Text The Microfinance Tale: Bright and Dark Side of the Narrative Zehra Mahmutović International Burch University Bosnia and Herzegovina zehra_mahmutovic@outlook.com Ali Coskun Fatih University Turkey alicoskun@fatih.edu.tr Abstract: In the years following the „Great Recession‟ the microfinance institutions gained great attention and earned various attributes summed up as being a very “attractive” root of financing developing nations‟ wide. According to the saying that arriving at an end forces as inevitably to think about the beginning, imposes also the rewind of the „Microfinance tale‟. The story traces back to the deepest convictions of Muhammad Yunus, a Bangladeshi banker, that the right to get a loan should be classified as one of the basic human rights, and his contribution to the poverty reduction challenge through the establishment of Grameen bank (the bank for poor) in 1976. Today, when we all are witnesses that his idea was pretty sustainable and are tirelessly discussing about the greatest innovation of the last century, there is a necessity to draw a parallel in between the initial idea and its realization, and inspect to what extent are they consistent, and whether they match at all? The microcredit as a modest but in comparison to bank loans relatively fast way of obtaining financial support in order to fill the “gaps in your budget” in short-terms, or to start your own small enterprise as a more permanent solution to ample unemployment, flourished in Bosnia and Herzegovina very fast. It seems that Bosnia and Herzegovina was a very fertile ground for implementation of the microfinance project, since it flourished relatively fast and MFIs in Bosnia and Herzegovina in relatively short period of time became quite financially sustainable. Relatively scarce is the list of fields that emphasize simultaneously economic and social performance intensively as the microfinance sector does (Tulchin, 2003); the social performance of a MFI is nothing else than the „truth in advertising‟ (Hashemi, 2007). As things look nowadays, most of the MFIs „turned back‟ from their original mission of providing financial support for small entrepreneurs, thus profit goals have overcame the social considerably. This article attempts to draw a parallel and define the reasons why the initial idea of fighting the poverty through providing microcredit brought dark reality of making the poor even poorer. Keywords: MFIs/MCOs, microcredit, poverty-debt, developing, SMEs, Bosnia and Herzegovina *This proceeding is part of an ongoing research supported by Fatih University, Istanbul, Turkey. 133 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2597 Title A name given to the resource The Microfinance Tale: Bright and Dark Side of the Narrative Author Author MAHMUTOVIĆ, Zehra COSKUN, Ali Abstract A summary of the resource. In the years following the ‘Great Recession’ the microfinance institutions gained great attention and earned various attributes summed up as being a very “attractive” root of financing developing nations’ wide. According to the saying that arriving at an end forces as inevitably to think about the beginning, imposes also the rewind of the ‘Microfinance tale’. The story traces back to the deepest convictions of Muhammad Yunus, a Bangladeshi banker, that the right to get a loan should be classified as one of the basic human rights, and his contribution to the poverty reduction challenge through the establishment of Grameen bank (the bank for poor) in 1976. Today, when we all are witnesses that his idea was pretty sustainable and are tirelessly discussing about the greatest innovation of the last century, there is a necessity to draw a parallel in between the initial idea and its realization, and inspect to what extent are they consistent, and whether they match at all? The microcredit as a modest but in comparison to bank loans relatively fast way of obtaining financial support in order to fill the “gaps in your budget” in short-terms, or to start your own small enterprise as a more permanent solution to ample unemployment, flourished in Bosnia and Herzegovina very fast. It seems that Bosnia and Herzegovina was a very fertile ground for implementation of the microfinance project, since it flourished relatively fast and MFIs in Bosnia and Herzegovina in relatively short period of time became quite financially sustainable. Relatively scarce is the list of fields that emphasize simultaneously economic and social performance intensively as the microfinance sector does (Tulchin, 2003); the social performance of a MFI is nothing else than the ‘truth in advertising’ (Hashemi, 2007). As things look nowadays, most of the MFIs ‘turned back’ from their original mission of providing financial support for small entrepreneurs, thus profit goals have overcame the social considerably. This article attempts to draw a parallel and define the reasons why the initial idea of fighting the poverty through providing microcredit brought dark reality of making the poor even poorer. Keywords: MFIs/MCOs, microcredit, poverty-debt, developing, SMEs, Bosnia and Herzegovina *This proceeding is part of an ongoing research supported by Fatih University, Istanbul, Turkey. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/2e3f08fa2df733c5db8714670a84f351.pdf a4579d547e3860dc15829c2df629e230 PDF Text Text Journal of Economic and Social Studies The Monetisation of Assets through Concession and Applicability in the Sector of Energy in Bosnia and Herzegovina Izet Bajrambašić Ministry of the Transport and Communication of Bosnia and Herzegovina Bosnia and Herzegovina bajrambasic.izet@bih.net.ba Abstract: Financial effects of monetisation through concession in the sector of energy in Bosnia and Herzegovina (B&H) may well increase the level of domestic investments, production, exports, employment and general economic growth, without additional higher borrowings and loss of ownership in these strategically important industries. These new financial opportunities are necessary for faster economic development of the country, especially in the transitional period, as this development process is a great challenge in modern world economy. It requires significant commitment and coordinated efforts of the public and private sector. The case study of Terminal Kakanj Power Plant (KPP) presented in this paper show that it is possible to implement monetization of assets through concession in the energy sector in B&H. Keywords: Monetization, Concession, Development, Financial Effects, Energy Sector JEL Classification: O16, H54 Article History Submitted:15 May 2015 Resubmitted:11 August 2015 Resubmitted: 23 October 2015 Accepted: 4 December 2015 http://dx.doi.org/10.14706/JECO SS16612 The empirical results provide evidence of positive correlations between monetisation through concession process and economic development in B&H or other transition and development countries. Volume 6 Number 1 Spring 2015 43 �Izet Bajrambašić Introduction Due to the lack of investment funds the economies of many countries are often in unfavorable and seemingly hopeless situations, where incomes are insufficient for necessary new investment, which slows the growth of capital and production and finally results in slowing of the income growth. Such economic situation is very difficult and depressing, and the way out of this situation is not easy and requires adequate knowledge and hard work. One of the possible way-outs is through new investments, which can change and direct a vicious circle of this situation towards the revival and development of the economy and overall society. The question is how to acquire new investments, i.e. how to ensure the necessary funds for this purpose? In this regard, the governments have an important task, especially in providing funds, which is not easy. Public infrastructure in many countries, because of their high value, may be the basis for new investments, because this potential can be exploited so that the existing resources and assets available in the network industries can provide fresh money. This can be achieved by monetization of assets through concessions. The government’s funding source of increased importance is the "monetization" or insuring the cash flow from existing public assets. Revenues made by the monetization may be used for: new infrastructure funds directly, or for other purposes. On the other hand, this process is a good opportunity for the government to gain the capacity of new technologies, increase production and exports, achieve stability in the energy system, and to avoid possible risks of worn out and technologically obsolete capacities or losses, etc. A new concession management structures, in partnership with the public sector, with an agreed concession fee, receive infrastructure to manage, which in long-term involves: investment, exploitation, maintenance, sale of services and all other that is related to the specific activity and agreement. The process of monetization has to take in account large interests of stakeholders, this is especially true for the public sector, concessionaires, financial institutions and service users. Their interests are different, but they are strongly connected to each other. The implemented project which presented in this paper (page 4.) and experiences of countries show different interests of stakeholders and main reason for 44 Journal of Economic and Social Studies �The Monetisation of Assets through Concession and Applicability in the Sector of Energy in Bosnia and Herzegovina monetization through concessions in network industries. These practical examples of projects and results of research presented in book “Achievement in Finance of Infrastructure, PFI/PPP”, Izet Bajrambasic, 2004, (chapter: “Participants and the interest of the participants in the PPP Projects”) give very clear explanation of stakeholders different interests. The interests of the public sector are: new financial resources, continuous provision of public services, faster development of infrastructure and economy, allocation of risks, safety in the delivery of public services, quality of services, market competition and others. Interests of concessionaires are: long-term investments, an increase in the volume of business, applying experience and knowledge in the field of work, protection of property and copyright, freedom of financial transfers and alike. The interests of financial institutions are: long-term borrowings, safety in money return (guarantees for the return of money) and to ensure the priorities of payments compared to other costs in the operational work of the concessionaire. The interests of service users are: to have developed network industry (infrastructure) and services, to have adequate service quality and price, to have the option of investing in these industries and alike. Interests of all stakeholders must be met, achieved and to be sustainable for a longer period of time, because it is the greatest guarantee for the success of the project. This is often politically more acceptable option than the full privatization, since the government can exercise control of public property operators, and at the end of a long-term concession contract assets are returned to public ownership. This shows that there are political, economic and financial reasons for the monetization of assets through concessions, and therefore it is important to research and study this financial instrument in B&H. According to result of the case study presented in this paper, it is clear that there are great opportunities for the application of this model in the energy sector in B&H. The study was conducted on the most complex production facility of KPP, Public Enterprise Elektroprivreda (PEEP). It is possible to apply monetization of public assets through concessions, where the government would remain the owner and the Volume 6 Number 1 Spring 2016 45 �Izet Bajrambašić concessionaire would operatively manage an independent enterprise KPP. Such an approach will greatly enhance and accelerate investment in the energy sector, while at the same time create new opportunities for the implementation of other planned investments, such as revitalization of the relevant coal mines. Literature review and experience of other countries One of the important segments of economic development is investing in infrastructure. Infrastructure of a country is understood as the fundamental service foundation of the economy, society and overall development. It is well known that, for the development of the economy, the adequate services are necessary, including transport, electric power, telecommunications, water and waste water etc. Larger investment in this sector produces higher market demand, and it implies that there is an increase in production, which enhances employment and gross domestic product. These economic relations and results are particularly significant for developing and transition countries, which in this process see a good opportunity for economic and social progress. Large number of authors in economic literature confirms the need to invest for faster economic growth, and great contribution to that is provided by international trade and free movement of capital. The capital investments depend on many factors including the accumulation and savings. The amount of capital determines the volume of domestic product and domestic product determines the amount of savings and investment. On this way domestic product determines the amount of accumulated capital (Blanchard, 2005). This cycle is very important for each economy and expected capital increase. Public infrastructure investments in network industries have large investment share and capital increase. It was pointed out that the investments are planned according to the assessment of expected cost and benefit, and that relationship, including amortization which significantly affects the level of investment. Assessing of investment, interest and risks are important factors that are taken into account, because refund depends on that. It is especially important to examine this in public investment, due to the mostly high investment volume and long-term financial burden, which is not easy for public sector. Public investments are specific and require special analysis and calculation of costs and benefits, but not for an 46 Journal of Economic and Social Studies �The Monetisation of Assets through Concession and Applicability in the Sector of Energy in Bosnia and Herzegovina individual or a small group, but for all potential users and entire society. The realization of these efforts is not simple because financial resources for these investments determine plans and possibilities. For this analysis, the state employs large teams in order to prove the need and cost effectiveness of investment (Mankiw, 2004). Government support is mostly expected in terms of new investments and ensuring the funding. The main problems arise when the accumulation is not sufficient, and credit debts are not possible or are at risk. This can be partially avoided, because it is possible to obtain funding in other ways, beside from own accumulation and no debt. One of these ways is partnership to private sector with different possibilities to invest. Financing and development of infrastructure on the basis of the Private Finance Initiative (PFI) and the Public Private Partnership (PPP) means introducing the private sector into financing and management of public services and physical infrastructure aimed to increase financial possibilities, improve the quality of public sector, develop infrastructure and introduce the business principle into the public sector. The partnership of the public and private sector in the PFI/PPP systems is, with the common interest, directed towards long-term contracts for sustainability of the relationship and the infrastructure system (Bajrambasic, 2004). Monetization of assets through concession is one of the PPP models, which is very relevant in recent years. “An increasingly important source of government financing is from the monetization, or securitization of cash from existing public assets. This is often a more politically acceptable option than outright privatization, since the government can exercise a degree of control over the asset operator, and at the end of the long-term contract the assets will revert back into public ownership. The proceeds from such transaction can be used to fund new infrastructure directly, or for other purposes” (Colchester, 2005). This is why the public sector increasingly desires private investment in public assets. A finance market is open and private investments have no restrictions and all investment forms are available: bonds, option, futures, derivatives, real estate and even fine artwork ... (Armstrong III, 2004). Relate to this large possibilities of private investment, the public sector may have to prepare an attractive project if they would like to have private investment in public infrastructure. Volume 6 Number 1 Spring 2016 47 �Izet Bajrambašić It is not easy, but practice has shown that many countries need partnerships to private sectors and monetization of assets through concession. There are many cases of this monetization model around the world. The experiences of other countries in terms of monetization through concessions in network industries are positive, and reasons and interests for these processes are various. Examples of projects in the USA and South East Europe region are listed below. • The first concession in the USA for already constructed infrastructure facility was awarded in 2005 for the Chicago Skyway Bridge, which was built in 1958. The bridge is 12 km long, and the annual number of vehicles is around 19 mils. The annual income from the collection is approximately $ 45 mils. The bridge was operated (operations and maintenance) by the City of Chicago Department of Streets and Sanitation for more than 50 years. The concession was awarded to the Sky Concession Company, LLC for 99 years, and the company paid $ 1.83 mil. In this case the government justified concession by the fact that they need funding for new infrastructure projects in Chicago, and that this was the easiest way to get fresh money. (http://www.chicagoskyway.org/) • Indiana is the first US state, which monetized the road Indiana Toll Road by collection through concession for a period of 75 years, with the offered value of $ 3.85 bn. The concession was awarded to Spanish investor Macquarie Infrastructure Group and Cintra. Analyst Richard Beales (Financial Times, 2006) claims that this example could open the door for other financial constrained countries to invite private investors to roads and bridges for resources/assets that are traditionally owned and operated by state and local governments. This is monetization through concessions of previously constructed motorways. The state of Indiana has constructed this motorway much earlier with its own funds and loans and it has already been used for a fee. The reason for such move by the government was financial problems and high maintenance costs, as a result of the infrastructure management by the state.(http://www.governing.com/topics/mgmt/indiana-toll-road-modelprivatization.html) 48 Journal of Economic and Social Studies �The Monetisation of Assets through Concession and Applicability in the Sector of Energy in Bosnia and Herzegovina • Road Alligator Alley was constructed in 1964 with two lanes, and enhanced with two more lanes, which financed from the bonds issued. The owner and operator was a state-owned company Florida DOT. Due to the high costs and financial needs, it was decided that the road will be given under concession. In this concession, revenue collection did not follow the growth of operating costs (management and maintenance) of the road, and transformation was done through the concessions, as in the case of Indiana Pay Toll. (http://inthepublicinterest.org/case/proposed-privatization-alligator-alley) • The Government of Macedonia in 2008 awarded concession to the Turkish company TepeAkfen Ventures (TAV) for two airports in Macedonia: Alexander the Great - Skopje and St. Paul -Ohrid. The concession period is over 20 years, and mandatory total investment is Euro 200 mil and the annual concession fee to the Government of Macedonia is Euro 30 to 40 mil. The government made this decision due to the need of large investments and large debts for airports. All these investments and debts were transferred to the concessionaire by the transformation.(http://www.mtc.gov.mk) • The Government of Montenegro in 2008 decided that the Port of Bar is not to be privatized but to carry out the restructuring, and that the port should be given under concession. After restructuring, concession agreements to 30 years were signed, at an annual fixed concession fee in the amount of Euro 27,500 and a variable fee of 1.5% of the annual income of the concessionaire. The essential decision of the Government is that the infrastructure remains in state ownership as a national interest, and that it can be given under concession. The Government’s stake of the operating companies can be sold as well, because it is not of the national interest. Therefore, the Government of Montenegro sold majority stake in operating companies related to the port of Bar. This project combines the privatization in the part of the operational work and monetization via concessions in the part of infrastructure. (http://www.minsaob.gov.me) • The Republic of Croatia Government in 2011 awarded concession for Zagreb Airport to the French consortium Zagreb Airport International Company (AIC) for 30 years to construct new passenger terminal and for management of existing and newly constructed terminal and associated infrastructure. Within three years’ period the ZAIC should construct a terminal for the capacity of five Volume 6 Number 1 Spring 2016 49 �Izet Bajrambašić million passengers per year, the total capital investment in the first phase amount to Euro 236 mil., with an additional Euro 88 mil for regular maintenance. (http://www.mmpi.hr) The ratio of ownership is not changed: 55% of the state, 35% of the city of Zagreb, 5% of Velika Gorica and 5% of Zagreb County. The topic of this paper is very specific and it request research methodology which covers comprehensive area and specific research parts. Research methodology of this paper is descriptive in next article. Methodology The overall aim of this study was to research applicability for the monetization of assets through concession in the energy sector in Bosnia and Herzegovina. In particular, the focus of this study is to solve the problem of finance and risk in investing in public infrastructure, and exploring the possibility to establish a new financial resource based on the existing public assets. Research methodology of this paper covers the process of the whole research activity and essentially is the core component of the research paper itself. It includes the following parts: descriptive microeconomic and investment status of the countries, generally; investment and concession approach in theory and practice; the primary and secondary data capture methods; case study of the monetization of KPP including mathematic operation (BCR, NPV, IRR, Payback method) and graphic presentation; discussion and results and conclusion with recommendations. The contents of this research process were used in order to determine the basis and assumptions for this paper and achieve the overall aim of the study. In order to provide the appropriate data, case study and analysis to evidence an acceptable solution for the current finance problem, the most appropriate methods for this paper is the data collection method and analysis including case study method. There are four main action areas recommended to cover all activities: data capture, case study, data analysis and result. Data captured from different resources: internal and external. Internal data used for this paper are from: books, laws, studies, magazines, etc. (specified on the end of this 50 Journal of Economic and Social Studies �The Monetisation of Assets through Concession and Applicability in the Sector of Energy in Bosnia and Herzegovina paper). External data used are from: business plan, annual business report, technical and finance studies, investment plan and the internet, etc. (specified on the end of this paper). Case study prepared base on technical and finance studies, published information, experience of other countries and author's knowledge and experience. Data analysis is done as narrative description and through result of the case study. The case study presented main results to achieve the overall aim of the study. Macroeconomic aspects and assumptions of the study have been described only partially to the extent necessary, and which is linked to the developing countries and transition economies. This aspect is not presented comprehensively, because it is a specific topic of the paper. The information captured on needs and financial status of these countries clearly indicates the urgency for investing, but also a great debt and significant difficulties in repaying debts. Additionally, these countries need new investment and fresh money for economic development. An analytical approach was used for the main part of the study, and an example of possible way to address these issues in B&H and other countries in the region was presented. Strategic plans for the development of the energy sector in B&H have not been agreed or operationally synchronized. However, it is known that for planned investment the accumulation of enterprises is nowhere near enough, and other forms of investing and plan implementation are considered. A key unresolved question is: which investment models should be applied and which funding sources should be used to develop production capacity. Investment programs and technical study, which are still valid, were used as the basis for new investment model, and they were prepared for the traditional method of implementation based on finance borrowing. Predicted method of implementation was faced with serious financial difficulties, and the project stalled. Besides traditional modes of investment, it is necessary to consider other known forms as well. Technical and financial data from the mentioned documents have been used to model the monetization through concessions as a basis for investment, business plans and calculation in the concession period of 30 years. Volume 6 Number 1 Spring 2016 51 �Izet Bajrambašić The presented case study is related to monetization through concession of KPP, which is belonging to the Public Enterprise Elektroprivreda B&H (PEEP). Previous business analysis and planned investments of KPP are the basis for assessing the operations in the concession period, which is analytically, with investment dynamics, presented in the following four separately business periods: 2015-2019; 2020-2026; 2027-2032 and 2033-2045. These analytical business periods are operating in continuity, varying according to the level and type of investment, and different business results. This analytical approach enables to calculate the profit and net profit, with included cost of concession fees, as well as net present value, which is essential for the analysis of concession relations between government and the concessionaire, and the evaluation of overall management transformation of KPP. Case study: Monetization of KPP KPP capacities developed in stages, based on the large deposits of coal in this area, from the initial 32 MW in1947 to 578 MW of total installed capacity, concluding with block 7 from 1988. In addition to production and selling of electricity KPP produces and sells thermal energy, slag and ash. Financial operations of KPP is not individually stated and publicly disclosed, but it is a part of overall PEEP business, which is a certain limitation for analysis. However, there is more data on the operations, such as: production volume, costs and resources of business, so it is possible to calculate the basic business elements and indicators. New investments in KPP are given in a separate document Investment Program 2010 (Technical Study). Current operations and planned investments provide the necessary data for evaluation of possibilities of KPP monetization through concession, and therefore in the continuation of the text separate analysis of these two important segments are listed. Business data of KPP Known elements of KPP business for 2010 are: total costs (207.878 mil KM i), total assets (964.630 mil KM), number of employees (663), total production (1,831 GWh) and investments (56.041milKM). Other elements of business are not known, but elements of PEEP business operations are known. 52 Journal of Economic and Social Studies �The Monetisation of Assets through Concession and Applicability in the Sector of Energy in Bosnia and Herzegovina Detailed and systemized PEEP business results from 2009 and 2010 are suitable for calculation of the missing elements of KPP business for 2010. KPP participation in electricity production in total production of PEEP can serve as a key to calculate the total revenue of KPP. The volume of PEEP production in 2009 is 6926.50 GWh, out of which KPP produced 1907.97 GWh. In 2010 PEEP production volume was 7181.40 GWh, out of which KPP produced 1831.00 GWh. Participation of KPP in total production of PEEP in 2009 is 27.55 %, and in 2010 amounts 25.50 %. Basic calculated elements of KPP business statement, as "independent company" for 2010 would be as shown in the following Table 1. Table 1: Basic calculated elements of KPP business statement Description Amount (mil KM) Total revenue 235.000 Total costs 210.590 Profit before tax 24.409 Tax 10% 2.440 Netprofit 21.968 Number of employees 663 Source: Authors’ own work and Anual Business Statement of the KPP 2009 Analysis of recent investments in KPP Significant investments in existing capacity in PEEP are completed in the previous period. PEEP has invested 1.056 million KM in the development by 2010, and planned investment for the period 2011 to 2015 is 970 million KM, and for the period 2016 to 2020.811 million KM. The first investments according to the overall KPP plan are related to the construction of Block 8, for which the preliminary Design and Environmental Study have been completed. Block 8 (300 MW) is the first block in the gradual transition to the new technology. Continuity of replacing the existing installation is planned for a longer period, so that full energy stability is achieved in 2030, with the planned installation of Block 9 (300 MW). Volume 6 Number 1 Spring 2016 53 �Izet Bajrambašić The completion of construction and commissioning of the regular operation of new block 8 in power plant Kakanj is planned (the traditional construction approach) for 2018 (Investment Program). The study envisages total investment and required work resources as well as operating costs. The total investment in fixed assets (Block 8) at constant prices amounts to 945.267 mil KM. Table 2: Business and Investment Forecast in Concession Period Description Contracted concession fee Total Profit Tax 10% Total Netprofit Total discounted value Operative capacity(MW) Operative capacity (block) 2015.-2019. - Business period (mil. KM) 2020.-2026. 2027.-2032. 140.000 130.000 Total 2033.-2045. 390.000 660.000 136.445 163.688 176.666 645.671 1.122.470 13.645 16.366 17.666 64.571 112.248 122.800 147.322 159.000 581.100 1,010.222 97.645 74.573 49.149 88.405 309.772 450 340+300 600 600 _ 5,6 and 7 6 ,7 and 8 8 and 9 8 and 9 _ Source: Authors’ own work In the first year of work required current assets amounts 20.830 mil KM. The cost of financing the investment amounts 59.948 mil KM, and total investment at constant prices is 1,035.046 mil KM. Total investment at current prices amounts to 1,106.338 mil KM. Block 9 has same price amounts (investment calculation). It is important to note the need for rehabilitation and modernization of three aforementioned mines that production and future of KPP depends on. These mines are the basis of development and operation of KPP, and it is therefore necessary to 54 Journal of Economic and Social Studies �The Monetisation of Assets through Concession and Applicability in the Sector of Energy in Bosnia and Herzegovina simultaneously invest in the mines. Investment indicators are satisfactory and the Technical Study is the basic document for making a decision on the future status and operation of KPP. Also, this document is a solid source of data for analysis of monetization possibilities through concessions. Given the large number of tables and calculations of separately periods of business and investments, below is the table presenting in the aggregate profit and net profit, with concession fees according to the calculation and capacity of KPP, for aforementioned periods of business. Discussion and Results The table shows that the aggregate net profit is 1,010.222 mil KM, and the discounted value of the net profit is 309.772 mil KM, and that the aggregate contracted installment fee is 660 mil KM, while the immediate fee of 200 mil KM is not shown in the table. In the part of compulsory investment for the concessionaire it is important to note that the last two periods of operation is shown with capacities of new technologies and that it is possible to achieve the goal of replacing old plants according to the planned schedule. Net present value according to calculation and immediate concession fee, is positive and amounts 109.772 mil KM (309.772-200.000), which is an indicator of the success and feasibility of monetization of assets through concession in KPP. The calculation of discounted value is per discount rate of 8 %. It is important to note that the costs include: operating, maintenance, costs for environmental protection measures, financing costs, a 10% tax (profit/net profit), and costs of concession fees. We have taken into consideration the conditions of IFI's, ii where the grace period is five years, the loan repayment period is 20 years and the interest rate up to 4.5 %, and it would be a financial support to the concessionaire. Operating of KPP, according to the Technical Study, shows a high amortization, which exceeds the amount of the (credit) annuity, which is important for the financial cash flow in the company. Further, the aggregate business results according to the previous table show significant net profit, as well as the discounted value. It is good financial framework for the concessionaire, which provides good possibilities for company reform, investing and making profit. The ratio of net profit and Volume 6 Number 1 Spring 2016 55 �Izet Bajrambašić contracted installment concession fees from Table 2 is important, so it is presented in the following Figure1. Figure 1: The Ratio of Net Profit and Concession Fees Source: Authors’ own work Developments in these two values in concession period (30 years) show that the fees are stable at certain periods, and that the net profit is stabilized in the last decade. Presented monetization of KPP shows that there are good assumptions for this process and that the application is possible and acceptable. The analysis shows financial and other benefits for the government and the concessionaire and achievement of a common goal, and that would be the production of electricity. Besides the benefits, each partner in this process would have to accept important responsibilities in order to make the project successful. For example, the government must take on the responsibility of modernization of mines, which are relevant for KPP and the obligation to secure supplies of coal. In this regard, the government would use contracted immediate concession fee to modernize the primary mines Kakanj, Breza and Zenica. On the other hand, the concessionaire would accept an obligation to deliver electrical energy e.g. priority for B&H. Of course, partners in this process agree on all details and sign the concession contract on monetization of KPP. 56 Journal of Economic and Social Studies �The Monetisation of Assets through Concession and Applicability in the Sector of Energy in Bosnia and Herzegovina Conclusion All defined activities of the research methodology used for this paper have been done and a final result is very clear and visible. The research results and experience of other countries shows that it is possible to monetize an existing, constructed infrastructure asset, i.e. certain capacities as an example of KPP. The research results with emphasis on KPP indicate that the energy infrastructure in B&H has great value and is mainly owned by the state and that the monetization of assets through concessions is possible. The presented case study showed that interests of all stakeholders had been met and had been achieved. It also showed that was sustainable for concession period of 30 years, because it was guaranteed by the financial success of the project. Resources and needs of B&H are great in all segments of network industries, which definitely should be used, bearing in mind that, generally, these are complex strategic industries that require special attention and sustainability of the system. It is the reason why the monetization process is much better option than privatization, because it is based on changing the management structure, but not changing of ownership as well, which remains with state (public). Monetization of assets through concessions in the strategic industries sector is possible in the economies of countries, if there are clear benefits and if such model of monetization is acceptable, with regard to the legal and business environment. In these national economies that requires significant commitment and coordinated efforts of public and private sector. Generally, exploring new financial opportunities is necessary for faster economic development of the country, especially in the transitional period, as this development process is a great challenge in the modern world economy. This monetization process is common job for the public and private sector to have a mutual interest and risks in realization of long-term contract. There are many different risks for both partners. The basic risks in this process are: political, legal, commercial, operational and maintenance risks, then income and financial risks. All the risks have to be included in the risk analysis. The risks are disadvantage of this monetization process, because each of them can make implementation problem. High quality risk management and contracting are requested for successful monetization process. Volume 6 Number 1 Spring 2016 57 �Izet Bajrambašić Recommendation: Taking into account results of this study and risks in this process it is necessary to continue exploring, preparation and implementation projects of the monetization of public assets through concessions in B&H. References Armstrong F. III, 2004, The Informed Investor, USA, American Management Association, 1601 Broadway, New York. Bajrambasic, I., 2004, Achievement in Finance of Infrastructure, PFI/PPP, Saran, Sarajevo Beales R., 2006, Financial Times, 24. January 2006 Blanchard O., 2005, Macroeconomics, 3rd edition, Mate, Zagreb Colchester, UK, 2005. Transportation Finance Review, Euromany Institutional Investor. Consortium:Economists Institute Hrvoje Požar, Institute from Banja Luka, Mining Institute from Tuzla nad Soluziona, Spain, 2008, Energy Sector Study in B&H, The World Bank. IBE d. d. Ljubljana, 2010. Feasibility Study (Investment Program), book no. 8 TKAKB8-4X/01. Knox P. J. Agnew & L. McCarthy, 2003. The Geography of the world economy, London: Hodder Arnold PFI Intelligence Bulletin 2001, London, UK. Public Enterprise Elektroprivreda BiH, 2010, Annual Business Report for 2010 and 2009. Public Private Partnerships News, 2000, Dublin, Ireland. 58 Journal of Economic and Social Studies �The Monetisation of Assets through Concession and Applicability in the Sector of Energy in Bosnia and Herzegovina RBS North American Infrastructure Advisory and Finance (Global Banking & Markets), 2006. Public Private Partnership (PPP) in North America, USA. Samuelson P.A. & Nordhaus W. D., 2007. Economy, 18th ed., Mate, Zagreb Saunders M., 2007, The Role of PPPs in Addressing Congestion, U.S. Department of Transportation Federal Highway Administration. Skypala P., 2008, Financial Times, 17. November 2008 Stiglitz J.E. & Walsh C.E., 2005, Principles of Macro-Economics, IV edition New York. The World Bank Group, 2004, Public Policy for the Private Sector. UNICITRAL, 2001, Legislative Guide on Privately Financed Infrastructure Projects, New York. http://nwfinancial.com/pdf/Indiana-Toll Roads%20Report.pdf http://scholar.lib.vt.edu/theses/available/etd-01172009-185137/unrestricted/ Final_02_10_09.pdf https://www.ferrovial.com/memoria2005/EN/08_infrastructure.html https://www.macquarie.com/dafiles/Internet/mgl/com/mqa/investor-centre/docs/mqa2012-analyst-pack.pdf?v=6 file:///C:/Users/izet.bajrambasic/Downloads/13845_GSY_BGP_Privatization%20and% 20PPP%20Review_June%202007.pdf i 1,9558 Convertible Mark (KM, ISO CODE: BAM)= 1 EUR (Currency Exchange of the Central Bank of B&H, No.092) ii International Finance Institution (WB, EIB, EBRD) Volume 6 Number 1 Spring 2016 59 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2970 Title A name given to the resource The Monetisation of Assets through Concession and Applicability in the Sector of Energy in Bosnia and Herzegovina Author Author BAJRAMBAŠIĆ, Izet Abstract A summary of the resource. Financial effects of monetisation through concession in the sector of energy in Bosnia and Herzegovina (BiH) may well increase the level of domestic investments, production, exports, employment and general economic growth, without additional higher borrowings and loss of ownership in these strategically important industries. These new financial opportunities are necessary for faster economic development of the country, especially in the transitional period, as this development process is a great challenge in modern world economy. It requires significant commitment and coordinated efforts of the public and private sector. The case study of Terminal Kakanj Power Plant (KPP) presented in this paper show that it is possible to implement monetization of assets through concession in the energy sector in BiH. The empirical results provide evidence of positive correlations between monetisation through concession process and economic development in BiHor other transition and development countries. Key words: monetization, concession, development, financial effects, energy sector. JEL classification: O–Economic Development Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2016 Keywords Keywords. Article PeerReviewed DOI Digital object identifier doi: http://dx.doi.org/10.14706/JECOSS16612 Identifier An unambiguous reference to the resource within a given context ISSN 1986 – 8502 HB Economic Theory https://omeka.ibu.edu.ba/files/original/810dfb5dba673d5f97ad2489a61b9d76.docx 2cde67c4afbaafeb24c1fe82cc232508 https://omeka.ibu.edu.ba/files/original/eed225353626ce2f3275593e56f17eb9.pdf 9815f4d351fe43f872898aabff35d381 PDF Text Text The Motifs of Gothicism in The Secret Agent by Joseph Conrad Yildiray Çevik International Balkan University/Skopje, Macedonia Key words: horror, violence, provocation, darkness, urban, murder, bombing ABSTRACT The stereotype utilization of a fear-causing beast in dark abyss teams up with Gothicism in a general sense. The ever-articulated elements of black horror are claimed to be transformed into the dynamics and requirements of modern life. Claimed to have a critical eye on traditional Gothicism, Joseph Conrad appears to be provocative for the re-analysis of gothic tendencies in his novels. If the objective of horror fiction stipulates the involvement of dangerous and gloomy imprisonment of a victim, we can well also expect such darkness injected into a ‘spy novel’ like The Secret Agent (1907). In fact, contrary to the trend, Conrad experiments on a unique debate with the gothic tradition educating readers about the optimistically and unprecedentedly endorsed elements of Gothicism in The Secret Agent. This paper, thus, deals with the motifs of Gothicism such as darkness, silence, domesticity, psychological violence, and etc as reflected in the novel, which could be labeled as quite different from the mainstream. � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2106 Title A name given to the resource The Motifs of Gothicism in The Secret Agent by Joseph Conrad Author Author CEVIK, Yildiray Abstract A summary of the resource. Key words: horror, violence, provocation, darkness, urban, murder, bombing ABSTRACT The stereotype utilization of a fear-causing beast in dark abyss teams up with Gothicism in a general sense. The ever-articulated elements of black horror are claimed to be transformed into the dynamics and requirements of modern life. Claimed to have a critical eye on traditional Gothicism, Joseph Conrad appears to be provocative for the re-analysis of gothic tendencies in his novels. If the objective of horror fiction stipulates the involvement of dangerous and gloomy imprisonment of a victim, we can well also expect such darkness injected into a ‘spy novel’ like The Secret Agent (1907). In fact, contrary to the trend, Conrad experiments on a unique debate with the gothic tradition educating readers about the optimistically and unprecedentedly endorsed elements of Gothicism in The Secret Agent. This paper, thus, deals with the motifs of Gothicism such as darkness, silence, domesticity, psychological violence, and etc as reflected in the novel, which could be labeled as quite different from the mainstream. Publisher An entity responsible for making the resource available IBU Publishing Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-03 Keywords Keywords. Article PeerReviewed https://omeka.ibu.edu.ba/files/original/80aaafa26ed6a152113830d091cdb42f.docx 7def4f8bd59e792f69564e8ce27dc01b https://omeka.ibu.edu.ba/files/original/3038ceb146a52dfc525e17e91f3a9c59.pdf 64ee941eb10741c7ed37d5f8b0ca0316 PDF Text Text The Motives of People in Utilizing the Freedom of Movement within the EU: The Case of Kosovo and Visa Liberalization with the EU Alban Asllani AAB University, Kosovo Albania alban.asllani@universitetiaab.com ShkumbinMisini Universum College, Kosovo Albania shkumbin.misini@gmail.com KujtimBytyqi Universum College, Kosovo Albania kujtim.bytyqi@gmail.com Abstract: This study intends to identify the main motives for travel of citizens from Kosovo to the EU Member States once the visa liberalization takes place. The authors of this paper take into account demographic information from the surveys handed out to citizens of Kosovo, and try to correlate them with their motives for travel to the EU Member states. The study argues that visa liberalization for Kosovo is of imperative importance in preparing Kosovo for EU membership. The study also argues that citizens of Kosovo benefit substantially by creating networks with professionals in the areas of research, technology, and education. These networks could potentially lead to local businesses gaining from outsourcing, which would overtime increase economic development of the country. However, the study’s focal point is the analysis of the survey of Kosovars on how they would utilize the EU visa liberalization regime, using descriptive, correlation, and regression analysis. The descriptive statistics and simple correlation analysis show a strong negative correlation between employment status, and work and study as a reason for visiting the EU member states after visa liberalization, while there is strong positive correlation between employment status and business, tourism and research as reasons for visiting the EU. Similarly, strong correlations have been found between education level of the respondents and their age group as demographics in one side, and work, study, tourism, doing business, and conducting research as reasons for visiting EU after the visa liberalization regime is granted to Kosovo. By conducting such analysis, the authors of this study expect to give an overview of the current situation in terms of economic and socio-political implications regarding the visa liberalization, and the motives of Kosovars in utilizing the visa liberalization regime based on the responses received from the questionnaires. Keywords: Demographics, Visa Liberalization, Mobility, Networking, people-to-people contact, Motives for travel, Correlation analysis, reforms 7 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2430 Title A name given to the resource The Motives of People in Utilizing the Freedom of Movement within the EU: The Case of Kosovo and Visa Liberalization with the EU Author Author ASLLANI, Alban MISINI, Shkumbin BYTYQI, Kujtim Abstract A summary of the resource. Abstract: This study intends to identify the main motives for travel of citizens from Kosovo to the EU Member States once the visa liberalization takes place. The authors of this paper take into account demographic information from the surveys handed out to citizens of Kosovo, and try to correlate them with their motives for travel to the EU Member states. The study argues that visa liberalization for Kosovo is of imperative importance in preparing Kosovo for EU membership. The study also argues that citizens of Kosovo benefit substantially by creating networks with professionals in the areas of research, technology, and education. These networks could potentially lead to local businesses gaining from outsourcing, which would overtime increase economic development of the country. However, the study’s focal point is the analysis of the survey of Kosovars on how they would utilize the EU visa liberalization regime, using descriptive, correlation, and regression analysis. The descriptive statistics and simple correlation analysis show a strong negative correlation between employment status, and work and study as a reason for visiting the EU member states after visa liberalization, while there is strong positive correlation between employment status and business, tourism and research as reasons for visiting the EU. Similarly, strong correlations have been found between education level of the respondents and their age group as demographics in one side, and work, study, tourism, doing business, and conducting research as reasons for visiting EU after the visa liberalization regime is granted to Kosovo. By conducting such analysis, the authors of this study expect to give an overview of the current situation in terms of economic and socio-political implications regarding the visa liberalization, and the motives of Kosovars in utilizing the visa liberalization regime based on the responses received from the questionnaires. Keywords: Demographics, Visa Liberalization, Mobility, Networking, people-to-people contact, Motives for travel, Correlation analysis, reforms Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04-24 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/8ce777b35ef1b2f0ee667c2e45168565.docx 707987c0a3ade01d857548aa76e5d34e https://omeka.ibu.edu.ba/files/original/73cacbb93b692f1f7a0d1f69cff27543.pdf d7cb7507a06af572221223e516de83bf PDF Text Text The Necessity of Establishing Helicopter Emergency Medical Service (Hems) in Bosnia And Herzegovina Alem Kaplan Ministry of Defense of B&H Bosnia and Herzegovina alem.kaplan@js.mod.gov.ba Haris Varupa Ministry of Defense of B&H Bosnia and Herzegovina nadrealisti1@yahoo.com Abstract: Once someone is seriously injured in incident site or need emergency transportation from one to another adequate medical facility for further treatment often the hope of those persons is a Helicopter Emergency Medical Service (HEMS). In medicine term “golden hour” is always a question of life or death. Every saved minute for ill/injured patient within “golden hour” is often crucial for saving patients live and increases his/her chance to survive and to reduce other effects to minimum. This has importance when we consider the relief of Bosnia and Herzegovina (B&H) whose land is very hilly with an average altitude of 500 m which slows down the quick response, and also due to high number of deaths in road accidents during last year’s, necessity for transportation organs, blood, etc. The doctor and paramedic (medical technician) as crew members of aerial asset can quickly work to stabilize condition of injured person from inaccessible areas, landmines areas, or any incident/accident site. Because of mentioned reasons it’s necessary to conduct research that will show need for development of HEMS (Helicopter Emergency Medical Service) that play a significant part in modern Emergency Medical Systems (EMS) in many countries. Thus, the primary objective of an article is to examine the current status and organization of the HEMS in B&H, evaluate the progress in the organization of HEMS over the last years, and make literature review and comparison to some other EU countries regarding HEMS missions. This comparison will show big differences in HEMS available assets and difference in completed missions in EU countries in comparison to B&H. Finally, as an expected result many patients throughout world owe their life to the availability of rapid and effective medical services that is crucial in most emergency situations and that’s reason why is necessary to develop more efficient and effective HEMS in B&H. Keywords: Helicopter Emergency Medical Service (HEMS), golden hour, emergency management, ill/injured patients. 174 �174 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2654 Title A name given to the resource The Necessity of Establishing Helicopter Emergency Medical Service (Hems) in Bosnia And Herzegovina Author Author KAPLAN, Alem VALUPA, Haris Abstract A summary of the resource. Once someone is seriously injured in incident site or need emergency transportation from one to another adequate medical facility for further treatment often the hope of those persons is a Helicopter Emergency Medical Service (HEMS). In medicine term “golden hour” is always a question of life or death. Every saved minute for ill/injured patient within “golden hour” is often crucial for saving patients live and increases his/her chance to survive and to reduce other effects to minimum. This has importance when we consider the relief of Bosnia and Herzegovina (B&H) whose land is very hilly with an average altitude of 500 m which slows down the quick response, and also due to high number of deaths in road accidents during last year’s, necessity for transportation organs, blood, etc. The doctor and paramedic (medical technician) as crew members of aerial asset can quickly work to stabilize condition of injured person from inaccessible areas, landmines areas, or any incident/accident site. Because of mentioned reasons it’s necessary to conduct research that will show need for development of HEMS (Helicopter Emergency Medical Service) that play a significant part in modern Emergency Medical Systems (EMS) in many countries. Thus, the primary objective of an article is to examine the current status and organization of the HEMS in B&H, evaluate the progress in the organization of HEMS over the last years, and make literature review and comparison to some other EU countries regarding HEMS missions. This comparison will show big differences in HEMS available assets and difference in completed missions in EU countries in comparison to B&H. Finally, as an expected result many patients throughout world owe their life to the availability of rapid and effective medical services that is crucial in most emergency situations and that’s reason why is necessary to develop more efficient and effective HEMS in B&H. Keywords: Helicopter Emergency Medical Service (HEMS), golden hour, emergency management, ill/injured patients. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/a4918c39ece598e610c0b41e311bad8d.docx 943bed87d527637b6fecae181238bfb4 https://omeka.ibu.edu.ba/files/original/23585155d9bca38bbff1e22266ca7cfc.pdf 08ea37813c2ad2bb0237a05ac1063142 PDF Text Text The Necessity of Re-Interpretation of Sources of Literature History With Reference to Two Odes Each From Bâkî Who Is the Repsesentative of Epicurean Philosophy and Nâbî Who Is the Representative of Philosophical Style Zülküf KILIÇ Bingöl University/ Bingol, Turkey Key words: Comparative literature, Epicurean philosophy, Philosophical style, Bâkî, Nâbî. ABSTRACT Definitions that are far away from wholesome and deep observations as in “Literature which is distant from public, real life, social tradition, customs and worries…” that is uttered for the Classic Turkish poetry tend to lose their meaning in today’s time and interpretations with much realistic, suitable evaluations began to be made. Doing such interpretations both for sources of classic Turkish literature history and for knowledge that could not rid itself from being a matter of memorization is essential. For such lacking interpretations introduces lots of poets incompletely. According to this world-view known as Epicurean philosophy, one needs to make good use of his short life, needs to enjoy life by putting aside sorrow, grief and sadness. In philosophical style, it’s essential that social and political events stating advice and counsel should be uttered wisely, sayings and idioms reflecting the life style of society and some concepts should be told in an advice giving matter. In classic Turkish poetry, Bâkî is accepted as the representative of one of the ode styles known as “Rint”, and Nâbî as philosophical style. Thinking that Bâkî, who is the representative of Epicurean philosophy known as the life philosophy, which is suitable to “Rint”, in classic Turkish poetry, would write poems based on a single mood of his is contradictory to human psychology and sociological practices. While moods showing variances is a scientific reality, defining it as “Rint is a poet.” for Bâkî would be an incomplete interpretation thus emphasizing the necessity of more realistic interpretations and definitions by carrying the main goal of this study beyond the boundaries of such classic, parrot fashion interpretations. The knowledge, which is Rint style odes of Bâkî greatly aggregate, is not wrong but doesn’t mean that Bâkî cannot write or may have not written in philosophical style (pulpy, wisely, erudite) – just as Nâbî, the representative of the philosophical style. Similarly, it’s not plausible to say that Nâbî may not have written in Rint style odes on the psychology of his scientifically presenting variability. For this, putting the info in literary history books stating that poets may write poems in different styles will serve better for poets to be understood completely. � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2107 Title A name given to the resource The Necessity of Re-Interpretation of Sources of Literature History With Reference to Two Odes Each From Bâkî Who Is the Repsesentative of Epicurean Philosophy and Nâbî Who Is the Representative of Philosophical Style Author Author KILIC, Zülküf Abstract A summary of the resource. Key words: Comparative literature, Epicurean philosophy, Philosophical style, Bâkî, Nâbî. ABSTRACT Definitions that are far away from wholesome and deep observations as in “Literature which is distant from public, real life, social tradition, customs and worries…” that is uttered for the Classic Turkish poetry tend to lose their meaning in today’s time and interpretations with much realistic, suitable evaluations began to be made. Doing such interpretations both for sources of classic Turkish literature history and for knowledge that could not rid itself from being a matter of memorization is essential. For such lacking interpretations introduces lots of poets incompletely. According to this world-view known as Epicurean philosophy, one needs to make good use of his short life, needs to enjoy life by putting aside sorrow, grief and sadness. In philosophical style, it’s essential that social and political events stating advice and counsel should be uttered wisely, sayings and idioms reflecting the life style of society and some concepts should be told in an advice giving matter. In classic Turkish poetry, Bâkî is accepted as the representative of one of the ode styles known as “Rint”, and Nâbî as philosophical style. Thinking that Bâkî, who is the representative of Epicurean philosophy known as the life philosophy, which is suitable to “Rint”, in classic Turkish poetry, would write poems based on a single mood of his is contradictory to human psychology and sociological practices. While moods showing variances is a scientific reality, defining it as “Rint is a poet.” for Bâkî would be an incomplete interpretation thus emphasizing the necessity of more realistic interpretations and definitions by carrying the main goal of this study beyond the boundaries of such classic, parrot fashion interpretations. The knowledge, which is Rint style odes of Bâkî greatly aggregate, is not wrong but doesn’t mean that Bâkî cannot write or may have not written in philosophical style (pulpy, wisely, erudite) – just as Nâbî, the representative of the philosophical style. Similarly, it’s not plausible to say that Nâbî may not have written in Rint style odes on the psychology of his scientifically presenting variability. For this, putting the info in literary history books stating that poets may write poems in different styles will serve better for poets to be understood completely. Publisher An entity responsible for making the resource available IBU Publishing Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-03 Keywords Keywords. Article PeerReviewed