Sample records for agreement investment scale

  1. China-ASEAN investment agreement negotiations

    CHEN Huiping


    China and the ASEAN are negotiating to establish a free trade area and an investment agreement is an integral part of it.The ongoing investment agreement negotiations have achieved some basic consensus as to specific contents of the agreement.However,due to the procedural obstacles and substantive controversies,the negotiations have become stagnant.In order to reach a final and successful conclusion of the investment agreement,the procedural obstacles should be' overcome and the substantive controversies be settled since the agreement has economic and political implications for both China and the ASEAN.

  2. The EU Approach to International Investment Agreements

    Shehi, Olsi


    The study includes an overview of the development of EU foreign investment law before the Lisbon Treaty came to force as well as the consequences after the moment when it became a binding legal document. The main research question of this study is in what way the EU has replaced its Member States in the field of foreign investment. Moreover, this thesis studies the EU foreign investment policy, its regulation in accordance with the Lisbon Treaty as well as analyzes the most important EU draft...

  3. Compensation for Indirect Expropriation in International Investment Agreements: Implications of National Treatment and Rights to Invest


    International investment agreements in bilateral treaties or free trade agreements allow investors to bring compensation claims when their investments are hurt by new regulations addressing environmental or other social concerns. Compensation rules such as expropriation clauses in international treaties help solve post-investment moral hazard problems such as hold-ups, thereby helping to prevent inefficient over-regulation and encouraging foreign investment. However, when social or environmen...

  4. 78 FR 19566 - Request for Comments Concerning Proposed Transatlantic Trade and Investment Agreement


    ... and Investment Partnership (TTIP) agreement with the European Union (EU) aimed at achieving a... agreement. Accordingly, USTR is seeking public comments on the proposed TTIP, including regarding U.S... contact Yvonne Jamison at the above number. All other questions regarding the TTIP agreement should...

  5. Breach of Contracts in Investor-State Arbitration Based on International Investment Agreements (Japanese)

    HAMAMOTO Shotaro


    This study examines the question whether and in which cases it is possible to settle disputes arising from investment contracts concluded between a foreign investor and a recipient State through the dispute settlement procedure (typically, arbitration) provided in international investment agreements (IIAs) concluded between the investor's State of nationality and the recipient State. The issue of whether the arbitration based on IIAs can deal with disputes over investment contracts arises in ...

  6. International Standards: Past Free Trade Agreements and the Prospects in the Transatlantic Trade and Investment Partnership

    Eliasson Leif Johan


    The Transatlantic Trade and Investment Partnership represents a strategic vision of transatlantic relations, including job creation, global leadership, and establishing high international standards. This paper discusses how three recent bi-lateral and regional agreements, along with positions adopted in transatlantic negotiations, convey respective side's acceptable parameters, and how international standards are emerging from and disseminated through agreements involving the European Union a...

  7. International investment agreements and public health: neutralizing a threat through treaty drafting


    The high profile investment claims filed by Philip Morris challenging Uruguayan and Australian measures that restrict advertising and logos on tobacco packaging awakened the public health community to the existence and potential detrimental impact of international investment agreements (IIAs). More recently, Eli Lilly challenged Canada’s invalidation of a pharmaceutical patent under an IIA. All of the cases claim that the intellectual property rights of the investor were infringed. As a resul...

  8. A new institutional approach to Japanese firms' foreign direct investment under free trade agreements

    Ishido, Hikari; 石戸, 光


    This paper examines the determinants of foreign direct investment (FDI) under free trade agreements (FTAs) from a new institutional perspective. First, the determinants of FDI are theoretically discussed from a new institutional perspective. Then, FDI is statistically analyzed at the aggregate level. Kernel density estimation of firm-size reveals some evidence of "structural changes" after FTAs, as characterized by the investing firms' paid-up capital stock. Statistical tests of the average a...

  9. 25 CFR 1000.398 - May a Tribe/Consortium invest funds received under a self-governance agreement?


    ... 25 Indians 2 2010-04-01 2010-04-01 false May a Tribe/Consortium invest funds received under a self-governance agreement? 1000.398 Section 1000.398 Indians OFFICE OF THE ASSISTANT SECRETARY, INDIAN AFFAIRS... invest funds received under a self-governance agreement? Yes, self-governance funds may be invested...

  10. Protecting policy space for public health nutrition in an era of international investment agreements

    Anne Marie Thow


    Full Text Available Philip Morris has recently brought claims against Australia (2011 and Uruguay (2010 under international investment agreements (IIAs. The claims allege that Philip Morris is entitled to compensation following the introduction of innovative tobacco packaging regulations to reduce smoking and prevent noncommunicable diseases (NCDs. Since tobacco control measures are often viewed as a model for public health nutrition measures, the claims raise the question of how investment law governs the latter. This paper begins to answer this question and to explain how governments can proactively protect policy space for public health nutrition in an era of expanding IIAs. The authors first consider the main interventions proposed to reduce diet-related NCDs and their intersection with investment in the food supply chain. They then review the nature of investment regimes and relevant case law and examine ways to maximize policy space for public health nutrition intervention within this legal context. As foreign investment increases across the food-chain and more global recommendations discouraging the consumption of unhealthful products are issued, investment law will increase in importance as part of the legal architecture governing the food supply. The implications of investment law for public health nutrition measures depend on various factors: the measures themselves, the terms of the applicable agreements, the conditions surrounding the foreign investment and the policies governing agricultural support. This analysis suggests that governments should adopt proactive measures – e.g. the clarification of terms and reliance on exceptions – to manage investment and protect their regulatory autonomy with respect to public health nutrition.

  11. Chinalco Signed Agreement with Guangxi Autonomous Region to Drive Forward Cooperation in Investment Project


    <正>Recently,the Aluminum Corporation of China Limited and the People’s Government of Guangxi Zhuang Autonomous Region held signing ceremony for investment cooperation agreement in Nanning City.Luo Jianchuan,member of the CPC Party Leadership Group of Chinalco and President of Chinalco,and Chen Gang,Vice Chairman of the People’s Government of Guangxi Zhuang Autonomous

  12. Protecting the autonomy of states to enact tobacco control measures under trade and investment agreements.

    Mitchell, Andrew; Sheargold, Elizabeth


    Since the adoption of the WHO's WHO Framework Convention on Tobacco Control, governments have been pursuing progressively stronger and more wide-reaching tobacco control measures. In response, tobacco companies are frequently using international trade and investment agreements as tools to challenge domestic tobacco control measures. Several significant new trade and investment agreements that some fear may provide new legal avenues to the tobacco industry to challenge health measures are currently under negotiation, including the Trans-Pacific Partnership (a 12 party agreement of Asia-Pacific regional countries) and the Transatlantic Trade and Investment Partnership (an agreement between the USA and the European Union). This commentary examines different options for treaty provisions that the parties could employ in these agreements to minimise legal risks relating to tobacco control measures. It recommends that parties take a comprehensive approach, combining provisions that minimise the potential costs of litigation with provisions that increase the likelihood of a state successfully defending tobacco control measures in such litigation. PMID:25361743

  13. Relationships between Investor-State Arbitration and Local Remedy Procedures in Bilateral Investment Treaties/Economic Partnership Agreements (Japanese)

    Abe, Yoshinori


    In this paper I closely scrutinize the legal relationships between investment arbitration and local remedy procedures in the global "network" of bilateral investment treaties (BITs) and free trade agreements (FTAs)/economic partnership agreements (EPAs), examining the desirable ways in which the two relationships should be regulated. When investors refer disputes to investment arbitration (procedures for international arbitration between investors and states) they are not required to exhaust ...

  14. Scales of degree of facial paralysis: analysis of agreement

    Kércia Melo de Oliveira Fonseca


    Full Text Available INTRODUCTION: It has become common to use scales to measure the degree of involvement of facial paralysis in phonoaudiological clinics. OBJECTIVE: To analyze the inter- and intra-rater agreement of the scales of degree of facial paralysis and to elicit point of view of the appraisers regarding their use. METHODS: Cross-sectional observational clinical study of the Chevalier and House & Brackmann scales performed by five speech therapists with clinical experience, who analyzed the facial expression of 30 adult subjects with impaired facial movements two times, with a one week interval between evaluations. The kappa analysis was employed. RESULTS: There was excellent inter-rater agreement for both scales (kappa > 0.80, and on the Chevalier scale a substantial intra-rater agreement in the first assessment (kappa = 0.792 and an excellent agreement in the second assessment (kappa = 0.928. The House & Brackmann scale showed excellent agreement at both assessments (kappa = 0.850 and 0.857. As for the appraisers' point of view, one appraiser thought prior training is necessary for the Chevalier scale and, four appraisers felt that training is important for the House & Brackmann scale. CONCLUSION: Both scales have good inter- and intra-rater agreement and most of the appraisers agree on the ease and relevance of the application of these scales.

  15. Inter-rater Agreement for the Clinical Dysphagia Scale

    Chun, Se Woong; Lee, Seung Ah; Jung, Il-Young; Beom, Jaewon; Han, Tai Ryoon; Oh, Byung-Mo


    Objective To investigate the inter-rater agreement for the clinical dysphagia scale (CDS). Method Sixty-seven subjects scheduled to participate in a video-fluoroscopic swallowing study (VFSS) were pre-examined by two raters independently within a 24-hour interval. Each item and the total score were compared between the raters. In addition, we investigated whether subtraction of items showing low agreement or modification of rating methods could enhance inter-rater agreement without significan...

  16. Services and investment in the EU-South Korea free-trade area: implications of a new approach for GATS V agreements and for bilateral investment treaties

    J. Mathis; E. Laurenza


    This paper focuses on the services and investment features of the recently concluded free trade agreement between the European Union and its Member States, of the one part, and the Republic of Korea, of the other part. This agreement is an early example of a new scheduling approach adopted by the Eu

  17. Agreements of state-entity and state liability in international investment arbitration

    Assaduzzaman, Assad Khan


    Most often in an investment agreement between a State entity and a foreign investor the arbitral tribunal is faced with the question of the liability of the State for the conduct of its entities. To make it precise the crucial findings of this research is whether or to what extend the States hall be liable for the commercial conduct of its entities? State affiliates in general includes, ‘state organ, ‘state agency’, ‘instrumentality’, ‘state-owned entity’, ‘state-owned company’, ‘publicly own...

  18. Including investment risk in large-scale power market models

    Lemming, Jørgen Kjærgaard; Meibom, P.


    Long-term energy market models can be used to examine investments in production technologies, however, with market liberalisation it is crucial that such models include investment risks and investor behaviour. This paper analyses how the effect of investment risk on production technology selection...... can be included in large-scale partial equilibrium models of the power market. The analyses are divided into a part about risk measures appropriate for power market investors and a more technical part about the combination of a risk-adjustment model and a partial-equilibrium model. To illustrate the...... analyses quantitatively, a framework based on an iterative interaction between the equilibrium model and a separate risk-adjustment module was constructed. To illustrate the features of the proposed modelling approach we examined how uncertainty in demand and variable costs affects the optimal choice of...

  19. An SIA analysis of the Investment Chapter in the EU-Canada Comprehensive Economic and Trade Agreement (CETA)

    Prud'homme, Dan


    This study is a section from the Sustainability Impact Assessment (SIA), commissioned by the European Commission, on the impacts of the Investment Chapter in the EU-Canada Comprehensive Economic and Trade Agreement (CETA). The Investment Chapter in CETA could encourage economic benefits including trade-stimulating effects and fostering intangible business linkages in Canada, although the significance of these will likely be minor to notable at most; impacts in the EU will likely follow these ...

  20. The scale-free topology of market investments

    Garlaschelli, Diego; Battiston, Stefano; Castri, Maurizio; Servedio, Vito D. P.; Caldarelli, Guido


    We propose a network description of large market investments, where both stocks and shareholders are represented as vertices connected by weighted links corresponding to shareholdings. In this framework, the in-degree ( kin) and the sum of incoming link weights ( v) of an investor correspond to the number of assets held ( portfolio diversification) and to the invested wealth ( portfolio volume), respectively. An empirical analysis of three different real markets reveals that the distributions of both kin and v display power-law tails with exponents γ and α. Moreover, we find that kin scales as a power-law function of v with an exponent β. Remarkably, despite the values of α, β and γ differ across the three markets, they are always governed by the scaling relation β=(1-α)/(1-γ). We show that these empirical findings can be reproduced by a recent model relating the emergence of scale-free networks to an underlying Paretian distribution of ‘hidden’ vertex properties.

  1. "Trade creep" and implications of the Transatlantic Trade and Investment Partnership Agreement for the United Kingdom National Health Service.

    Koivusalo, Meri; Tritter, Jonathan


    The ambitious and comprehensive Transatlantic Trade and Investment Partnership Agreement (TTIP/TAFTA) agreement between the European Union and United States is now being negotiated and may have far-reaching consequences for health services. The agreement extends to government procurement, investment, and further regulatory cooperation. In this article, we focus on the United Kingdom National Health Service and how these negotiations can limit policy space to change policies and to regulate in relation to health services, pharmaceuticals, medical devices, and health industries. The negotiation of TTIP/TAFTA has the potential to "harmonize" more corporate-friendly regulation, resulting in higher costs and loss of policy space, an example of "trade creep" that potentially compromises health equity, public health, and safety concerns across the Atlantic. PMID:24684086

  2. Part I: Study on investment protection agreements as instruments of international economic law

    P.J. Kuijper


    This study seeks to set out briefly the historical background and the development of present-day Bilateral Investment Treaties (BITs) that have grown in sophistication and in number since the first one of this type of treaties was concluded between the Federal Republic of Germany and Pakistan in 195

  3. Scale economies in pension fund investments: A dissection of investment costs across asset classes

    Broeders, D.; van Oord, A.; Rijsbergen, D.


    Using a unique dataset of 225 Dutch occupational pension funds with a total of 928 billion euro of assets under management, we provide a comprehensive analysis of the relation between investment costs and pension fund size. Our dataset is free from self-reporting biases and decomposes investment cos

  4. Food security through large scale investments in agriculture

    Rulli, M.; D'Odorico, P.


    Most of the human appropriation of freshwater resources is for food production. There is some concern that in the near future the finite freshwater resources available on Earth might not be sufficient to meet the increasing human demand for agricultural products. In the late 1700s Malthus argued that in the long run the humanity would not have enough resources to feed itself. Malthus' analysis, however, did not account for the emergence of technological innovations that could increase the rate of food production. The modern and contemporary history has seen at least three major technological advances that have increased humans' access to food, namely, the industrial revolution, the green revolution, and the intensification of global trade. Here we argue that a fourth revolution has just started to happen. It involves foreign direct investments in agriculture, which intensify the crop yields of potentially highly productive agricultural lands by introducing the use of more modern technologies. The increasing demand for agricultural products and the uncertainty of international food markets has recently drawn the attention of governments and agribusiness firms toward investments in productive agricultural land, mostly in the developing world. The targeted countries are typically located in regions that have remained only marginally utilized because of lack of modern technology. It is expected that in the long run large scale land acquisitions for commercial farming will bring the technology required to close the existing yield gaps. While the extent of the acquired land and the associated appropriation of freshwater resources have been investigated in detail, the amount of food this land can produce and the number of people it could feed still need to be quantified. Here we use a unique dataset of verified land deals to provide a global quantitative assessment of the rates of crop and food appropriation potentially associated with large scale land acquisitions. We

  5. Investments

    Bodie, Zvi


    The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. McGraw-Hill's adaptive learning component, LearnSmart, provides assignable modules that help students master chapter core concepts and come to class more prepared. Bodie Investments' blend of practical and theoretical coverage combines with a complete digital solution to help your students achieve higher outcomes in the course

  6. Scale determinants of fiscal investment in geological exploration: evidence from China.

    Lu, Linna; Lei, Yalin


    With the continued growth in demand for mineral resources and China's efforts in increasing investment in geological prospecting, fiscal investment in geological exploration becomes a research hotspot. This paper examines the yearly relationship among fiscal investment in geological exploration of the current term, that of the last term and prices of mining rights over the period 1999-2009. Hines and Catephores' investment acceleration model is applied to describe the scale determinants of fiscal investment in geological exploration which are value-added of mining rights, value of mining rights and fiscal investment in the last term. The results indicate that when value-added of mining rights, value of mining rights or fiscal investment in the last term moves at 1 unit, fiscal investment in the current term will move 0.381, 1.094 or 0.907 units respectively. In order to determine the scale of fiscal investment in geological exploration for the current year, the Chinese government should take fiscal investment in geological exploration for the last year and the capital stock of the previous investments into account. In practice, combination of government fiscal investment in geological exploration with its performance evaluation can create a virtuous circle of capital management mechanism. PMID:24204652

  7. Scale determinants of fiscal investment in geological exploration: evidence from China.

    Linna Lu

    Full Text Available With the continued growth in demand for mineral resources and China's efforts in increasing investment in geological prospecting, fiscal investment in geological exploration becomes a research hotspot. This paper examines the yearly relationship among fiscal investment in geological exploration of the current term, that of the last term and prices of mining rights over the period 1999-2009. Hines and Catephores' investment acceleration model is applied to describe the scale determinants of fiscal investment in geological exploration which are value-added of mining rights, value of mining rights and fiscal investment in the last term. The results indicate that when value-added of mining rights, value of mining rights or fiscal investment in the last term moves at 1 unit, fiscal investment in the current term will move 0.381, 1.094 or 0.907 units respectively. In order to determine the scale of fiscal investment in geological exploration for the current year, the Chinese government should take fiscal investment in geological exploration for the last year and the capital stock of the previous investments into account. In practice, combination of government fiscal investment in geological exploration with its performance evaluation can create a virtuous circle of capital management mechanism.

  8. Large Scale Investments in Infrastructure : Competing Policy regimes to Control Connections

    Otsuki, K.; Read, M.L.; Zoomers, E.B.


    This paper proposes to analyse implications of large-scale investments in physical infrastructure for social and environmental justice. While case studies on the global land rush and climate change have advanced our understanding of how large-scale investments in land, forests and water affect natur

  9. Fostering sustainable small-scale investments: lessons from experience and ideas for intervention and innovation

    This article presents lessons from experience pertinent to implementing small-scale natural resource and related investment projects in developing countries. It outlines ideas for intervention and innovation to foster such investments. Particular emphasis is placed on private-sector participation in these investments. Following a brief presentation of the economic development and other arguments that support intervention and innovation in support of such small-scale natural resource investments, the article discusses many of the lessons learned from experience. These lessons reinforce those touched upon in the investment-specific discussions in the previous articles. The experience and associated lessons that are examined include experiences in both developing and developed countries and encompass nor just lessons from natural resource investments, but also small-scale investments in other sectors. Financing and other innovations which facilitate meeting the challenges are drawn from relevant experience where barriers to investment have been surmounted. Options for programme and project interventions to increase market penetration of small-scale investments and achieve the associated development linkages and synergies are suggested. These suggestions are aimed especially at governments and bilateral and multilateral development finance and development assistance entities. It is those players who might support such interventions in collaboration with local financial institutions and other market players. (author)

  10. Efficient capacity investment and joint production agreements in an oligopolistic electricity market: The HidroAysen joint venture project

    We develop a model for a power market with the characteristics of the Chilean power supply industry, which is an integrated system with a system operator (SO) with a vast authority to define the dispatch of the system. We evaluate whether a large joint power generator project made up by the two largest power generators is an anti-competitive project. Considering four investment technologies for power generation, namely, hydro, coal, diesel, and an advantageous hydro technology which can only be built in a large scale (HidroAysen) for the joint venture case, we use an oligopolistic Cournot model and a Benevolent Social Planner, both calibrated to the Chilean power industry, in order to assess the efficiency of alternative investment strategies and conditions whether the HidroAysen joint venture project can be barred to be judged as anti-competitive. Results suggest that the joint venture is an efficient investment and there is a pro-competitive behaviour on the part of the two power generators, and that there are benefit to consumers, who should expect non-increasing energy prices as a result of the advantageous hydrotechnology. (author)

  11. Efficient capacity investment and joint production agreements in an oligopolistic electricity market: The HidroAysen joint venture project

    We develop a model for a power market with the characteristics of the Chilean power supply industry, which is an integrated system with a system operator (SO) with a vast authority to define the dispatch of the system. We evaluate whether a large joint power generator project made up by the two largest power generators is an anti-competitive project. Considering four investment technologies for power generation, namely, hydro, coal, diesel, and an advantageous hydro technology which can only be built in a large scale (HidroAysen) for the joint venture case, we use an oligopolistic Cournot model and a Benevolent Social Planner, both calibrated to the Chilean power industry, in order to assess the efficiency of alternative investment strategies and conditions whether the HidroAysen joint venture project can be barred to be judged as anti-competitive. Results suggest that the joint venture is an efficient investment and there is a pro-competitive behaviour on the part of the two power generators, and that there are benefit to consumers, who should expect non-increasing energy prices as a result of the advantageous hydrotechnology.

  12. Investment Timing and Capacity Choice for Small-Scale Wind PowerUnder Uncertainty

    Fleten, Stein-Erik; Maribu, Karl Magnus


    This paper presents a method for evaluation of investments in small-scale wind power under uncertainty. It is assumed that the price of electricity is uncertain and that an owner of a property with wind resources has a deferrable opportunity to invest in one wind power turbine within a capacity range. The model evaluates investment in a set of projects with different capacity. It is assumed that the owner substitutes own electricity load with electricity from the wind mill and sells excess electricity back to the grid on an hourly basis. The problem for the owner is to find the price levels at which it is optimal to invest, and in which capacity to invest. The results suggests it is optimal to wait for significantly higher prices than the net present value break-even. Optimal scale and timing depend on the expected price growth rate and the uncertainty in the future prices.

  13. Assessing the relevance of multilateral trade law to sovereign investments: Sovereign Wealth Funds as “investors” under the General Agreement on Trade in Services

    Chaisse, Julien


    The variety of investments made by powerful Sovereign Wealth Funds (SWFs) is often directed to the globally booming service sector which is regulated by the General Agreement on Trade in Services (GATS). This paper analyses the scope, substance and procedural rights which may benefit SWFs. The basic principles of World Trade Organization (WTO) law provide a legal framework for regulating SWF investment while the members’ specific commitments may provide significant liberalizati...

  14. Discrete capacity choice problems in repeated and scaled investment

    Luo, Cheng


    Most previous studies on real options are confined to the realm of continuous modelling while more practical discrete models are restricted by the methodology of solutions. This thesis applies the discount factor methodology to solve two scaling capacity choice problems: one is the scaling capacity expansions without switching options raised from Dxit and Pindyck (1994) and the other one is the case adding switching opportunities raised from Pindyck (1988). We respectively establish two discr...

  15. The Practice of Responsible Investment Principles in Larger-Scale Agricultural Investments : Implications for Corporate Performance and Impact on Local Communities

    World Bank


    This report presents findings from a field-based survey on the conduct of agricultural operations at 39 large-scale, mature agribusiness investments in sub-Saharan Africa and Southeast Asia. The objective of the report is to provide first-hand, practical knowledge of the approach, behavior, and experience of these investments, their relationships with surrounding communities and the conseq...

  16. Prospects for investment in large-scale, grid-connected solar power in Africa

    Hansen, Ulrich Elmer; Nygaard, Ivan; Pedersen, Mathilde Brix

    Solar power in Africa is on its way to becoming a market-based commodity, thus escaping the niche for individual electricity supply that is mainly supported by international donor organisations. Significant reductions in the cost of photovoltaic (PV) panels and a 400 percent increase in oil prices...... since the 1990s have changed the competiveness of solar PV in all markets, ranging from individual households via institutions to mini-grids and grid-connected installations. In volume and investment, the market for large-scale grid-connected solar power plants is by far the most important......-scale investments in grid-connected solar power plants and local assembly facilities for PV panels, have exceeded even optimistic scenarios. Finally, therefore, there seem to be bright prospects for investment in large-scale grid-connected solar power in Africa....

  17. Fractal Markets Hypothesis and the Global Financial Crisis: Scaling, Investment Horizons and Liquidity

    Krištoufek, Ladislav


    Roč. 15, č. 6 (2012), 1250065-1-1250065-13. ISSN 0219-5259 R&D Projects: GA ČR GA402/09/0965 Grant ostatní: GA UK(CZ) 118310; SVV(CZ) 265 504 Institutional support: RVO:67985556 Keywords : fractal markets hypothesis * scaling * fractality * investment horizons * efficient markets hypothesis Subject RIV: AH - Economics Impact factor: 0.647, year: 2012 markets hypothesis and the global financial crisis scaling investment horizons and liquidity.pdf

  18. Basin Scale Water Infrastructure Investment Evaluation Considering Climate Risk

    Kaheil, Y. H.; Lall, U.


    Water storage infrastructure has historically been a primary means of addressing vulnerability to climate risk. Rainfall, and streamflow fluctuate at many time scales, rendering supply unreliable unless a mechanism for surface or subsurface storage is provided. Irrigated agriculture typically provides dramatically higher yields relative to rain fed agriculture, by ensuring a regular, when needed water supply. Irrigation is also typically the dominant water user in most parts of the world. Addressing storage-irrigation infrastructure needs is thus a critical piece in developing a strategy for regional water and food security in the face of a changing climate. In the 20th century, large reservoir and canal system projects were funded and developed in many regions. It is argued that these played a significant role in facilitating the Green Revolution in India, Pakistan and elsewhere. However, this notion has been challenged, and many negative environmental and socio-economic impacts of such projects have been highlighted. Governance and maintenance of such hydraulic infrastructure has also been a challenge, and a paradigm of Integrated Water Resources Management (IWRM) and participatory processes has been argued for. In the last decade or so, considerable interest has been directed towards local or on-farm decentralized storage development, i.e., towards small scale reservoir and use systems where governance may be less of an issue. There has been government support of such activities in countries such as India, leading to a rapid proliferation of such systems in some areas. Questions about the effect of such development on the regional hydrologic balance and as to their resilience in a changing climate arise. Further, in the spirit of IWRM, one needs to consider the potential use of water as well as the development and management of supply. In the current context, a central question that can be posed is the identification of the best mix of centralized and

  19. The Geographic and Sectoral Patterns of Large-scale Farmland Investments in Sub-Saharan Africa

    Schoneveld, G.C.


    Following the food and energy price crises of the mid 2000s, sub-Saharan Africa has become one of the largest recipients for large-scale farmland investments. While much has been written on the phenomenon, scant reliable empirical evidence is available as to the precise geographic and sectoral patte

  20. Impacts of the Teach For America Investing in Innovation Scale-Up

    Clark, Melissa A.; Eric Isenberg; Albert Y. Liu; Libby Makowsky; Marykate Zukiewicz


    In 2010, Teach For America (TFA) launched a major expansion effort, funded in part by a five-year Investing in Innovation (i3) scale-up grant of $50 million from the U.S. Department of Education. This study examines the effectiveness of TFA elementary school teachers in the second year of the scale-up, relative to other teachers in the same grades and schools.

  1. Assessing the Effectiveness of Teach For America's Investing in Innovation Scale-Up

    Clark, Melissa A.; Eric Isenberg; Albert Y. Liu; Libby Makowsky; Marykate Zukiewicz


    In 2010, Teach For America (TFA) launched a major expansion effort, funded in part by a five-year Investing in Innovation (i3) scale-up grant of $50 million from the U.S. Department of Education. This study examines the effectiveness of TFA elementary school teachers in the second year of the scale-up, relative to other teachers in the same grades and schools.

  2. The Role of National Development Banks in Intermediating International Climate Finance to Scale Up Private Sector Investments

    Diana Smallridge; Barbara Buchner; Chiara Trabacchi; Maria Netto; José Juan Gomes Lorenzo; Lucila Serra


    Significant investments are needed to support the global transition to a low-carbon, climate resilient future. Current finance flows fall short of global financing needs, and massive scaling up is needed to unlock additional financial resources and foster a sustainable investment pathway. Overcoming barriers to private sector investments is critical, and international climate finance can play a catalytic role in this regard. National development banks (NDBs) have a unique role in this context...

  3. Implementation of the Teach For America Investing in Innovation Scale-Up

    Marykate Zukiewicz; Clark, Melissa A.; Libby Makowsky


    Teach For America (TFA) is a nonprofit organization that seeks to improve educational opportunities for disadvantaged students by recruiting and training teachers to work in low-income schools. In 2010, TFA launched a major expansion effort, funded in part by a five-year Investing in Innovation (i3) Scale-Up grant of $50 million from the U.S. Department of Education’s Office of Innovation and Improvement. This report examines TFA’s implementation of the i3 scale-up in the first and second...

  4. Evaluation on Optimal Scale of Rural Fixed-asset Investment-Based on Microcosmic Perspective of Farmers’ Income Increase

    Jinqian; DENG; Kangkang; SHAN; Yan; ZHANG


    The rural fundamental and productive fixed-asset investment not only makes active influence on the changes of farmers’ operational,wages and property income,but it also has an optimal scale range for farmers’ income increase. From the perspective of farmers’ income increase,this article evaluates the optimal scale of rural fixed-asset investment by setting up model with statistic data,and the results show that the optimal scale of per capita rural fixed-asset investment is 76. 35% of per capita net income of rural residents,which has been reached in China in 2009. Therefore,compared with the adding of rural fixed-asset investment,a better income increase effect can be achieved through the adjustment of rural fixed-asset investment structure.

  5. Disagreements in meta-analyses using outcomes measured on continuous or rating scales: observer agreement study

    Tendal, Britta; Higgins, Julian P T; Jüni, Peter; Hróbjartsson, Asbjørn; Trelle, Sven; Nüesch, Eveline; Wandel, Simon; Jørgensen, Anders W; Gesser, Katarina Margareta; Ilsøe-Kristensen, Søren; Gøtzsche, Peter C


    differed less than 0.1 in their point estimates or confidence intervals. RESULTS: The agreement was 53% at trial level and 31% at meta-analysis level. Including all pairs, the median disagreement was SMD=0.22 (interquartile range 0.07-0.61). The experts agreed somewhat more than the PhD students at trial...... the reviews but to the protocols, where the relevant outcome was highlighted. The agreement was analysed at both trial and meta-analysis level, pairing the observers in all possible ways (45 pairs, yielding 2025 pairs of trials and 450 pairs of meta-analyses). Agreement was defined as SMDs that...... level (61% v 46%), but not at meta-analysis level. Important reasons for disagreement were differences in selection of time points, scales, control groups, and type of calculations; whether to include a trial in the meta-analysis; and data extraction errors made by the observers. In 14 out of the 100...

  6. Common–interest community agreements on private lands provide opportunity and scale for wildlife management

    Powell, L. A.


    Full Text Available Private lands are critical to conservation planning for wildlife, worldwide. Agriculture subsidies, tax incentives, and conservation easements have been successfully used as tools to convert cropland to native vegetation. However, uncertain economies threaten the sustainability of these incentives. The wildlife management profession is in need of innovative models that support effective management of populations. I argue that biologists should consider the option of facilitating the development of private reserves to reduce the dependence of conservation on public investment. Private reserves can be enhanced by creating common–interest communities, which reduce the problem posed by limited size of individual properties. Cross–property agreements between landowners can provide economic incentives through forms of ecotourism, energy production, and/or enhanced agricultural production. I share two case studies that demonstrate how cross–property agreements may be beneficial to landowner’s finances and conservation of diverse wildlife communities, as well as providing an efficient structure for NGOs and management agencies to engage and support landowners.

  7. Trade agreements with side-effects? : European Union and United States to negotiate Transatlantic Trade and Investment Partnership

    Mildner, Stormy-Annika; Schmucker, Claudia


    "At the G8 summit in Northern Ireland on June 17, the European Union and the United States kicked off the negotiations for a comprehensive Transatlantic Trade and Investment Partnership (TTIP) to reduce tariffs and non-tariff trade barriers. While the expected economic benefits for both sides would be more than welcome in an era of gloomy growth forecasts, a TTIP is not entirely without risks for global trade and the multilateral trading system. The talks could tie up a considerable portion o...

  8. Capital investment requirements for greenhouse gas emissions mitigation in power generation on near term to century time scales and global to regional spatial scales

    Our paper explores the implication of climate mitigation policy and electricity generation technology performance for capital investment demands by the electric power sector on near term to century time scales. We find that stabilizing GHG emissions will require additional investment in the electricity generation sector over and above investments that would be needed in the absence of climate policy, in the range of 15 to 29 trillion US$ (48–94%) depending on the stringency of climate policy during the period 2015 to 2095 under default technology assumptions. This increase reflects the higher capital intensity of power systems that control emissions as well as increased electrification of the global economy. Limits on the penetration of nuclear and carbon capture and storage technology could increase costs substantially. Energy efficiency improvements can reduce the investment requirement by 18 to 24 trillion US$ (compared to default technology climate policy assumptions), depending on climate policy scenario. We also highlight the implications of different technology evolution scenarios for different regions. Under default technology set, the heaviest investments across scenarios in power generation were observed in China, India, SE Asia and Africa regions with the latter three regions dominating in the second half of the 21st century. - Highlights: • We present electricity generation investment requirement under different scenarios. • A climate policy will lead to substantial increase in investment requirement. • Stringency of climate policy has significant implications for investments. • Technology evolution and performance alter investment requirements significantly. • China, India, Southeast Asia and Africa dominate as investment destinations

  9. Commercial risks and benefits of investments in food irradiation on an industrial scale

    Economic aspects and prerequisites of importance for the commercialization of the radiation processing of food products are discussed. Various factors imply that the capital requirements for a complete commercial food irradiation plant and the selling price of the radiation treatment have to be considerably higher than is suggested in many publications. This holds especially for food irradiation facilities conceived for only one type of food, as it will generally not be possible to make use of the economy of scale in such cases. Investment in such dedicated irradiation facilities has to be classified as a high risk venture for various reasons which are described in some detail. The most important risk factor for investments in food irradiation facilities is large changes in demand for irradiation capacity within rather short periods which are completely unpredictable because they are caused by natural phenomena such as weather. As the rational investor looks for a high potential return from high risk ventures to offset the potential loss, the selling price for the radiation processing of food products is further increased. To overcome this drawback the establishment of irradiation centres for a large number of foods and possibly other products is recommended. Such a strategy, for which the BGS centre is cited as an example, reduces at the same time the risk for the rational investor as well as the selling price. Finally, the role of the Joint Division of FAO and IAEA in implementing such a strategy especially in developing countries is stressed. (author)

  10. The evolutionary public goods game on scale-free networks with heterogeneous investment

    Cao, Xian-Bin; Du, Wen-Bo; Rong, Zhi-Hai


    The public goods game (PGG) is generally considered as a suitable paradigm to explain ubiquitous cooperative behavior. In this study, we investigated the evolutionary PGG on scale-free networks and studied the effect of individual heterogeneity by setting the cooperator x an investment value correlated to its degree as Ix=Nṡ/∑j, where kx is the degree of x, j runs over all players and β is a tunable parameter. It is shown that the cooperation level is remarkably promoted by negative values of β whereas it is highly depressed by positive values of β. Moreover, the effect of environmental noise has also been investigated. Our result may sharpen the understanding of cooperation induced by the individual diversity.

  11. Impact of speculator's expectations of returns and time scales of investment on crude oil price behaviors

    Based on time series of crude oil prices (daily spot), this paper analyses price fluctuation with two significant parameters τ (speculators' time scales of investment) and ε (speculators' expectations of return) by using Zipf analysis technique, specifically, by mapping τ-returns of prices into 3-alphabeted sequences (absolute frequencies) and 2-alphabeted sequences (relative frequencies), containing the fundamental information of price fluctuations. This paper empirically explores parameters and identifies various types of speculators' cognition patterns of price behavior. In order to quantify the degree of distortion, a feasible reference is proposed: an ideal speculator. Finally, this paper discusses the similarities and differences between those cognition patterns of speculators' and those of an ideal speculator. The resultant analyses identify the possible distortion of price behaviors by their patterns. (author)

  12. Assessing the Scale and Potential of Chinese Investment Overseas: An Econometric Approach%Assessing the Scale and Potential of Chinese Investment Overseas: An Econometric Approach

    Shiro Armstrong


    The recent rise in Chinese outward direct investment (ODI) has significant global implicatzons and impacts on host country policy. The present paper attempts to provide a theoretical basis and to define a robust econometric approach to assess the performa

  13. Comparison of large scale solar PV (photovoltaic) and nuclear power plant investments in an emerging market

    We examine and compare economic feasibilities and environmental effects of two energy investments options in Turkey: a NE-PP (nuclear power plant) in Mersin province on the Mediterranean coast and a large scale photovoltaic solar energy power plant (PV-PP) to be built in a governmentally reserved land area in mid-south Anatolia, namely Karapinar Energy Specialized Industrial Zone (Karapinar-ESIZ). Total installed power of both plants is taken to be 4800 MW, which is the contracted value for the four units of NE-PP. In terms of investments and energy outputs, both options have their respective advantages and disadvantages over the other. While PV-PP is cheaper without land cost, NE-PP produces quite more electricity throughout its lifetime. Applying a tool to calculate the emission factor for an electricity system (taken from UNFCCC), although NE-PP has more cumulative CO2 emission reduction potential than PV-PP, PV-PP seems slightly more advantageous in terms of CO2 reduction per unit of produced electricity. PV-PP needs more land area than NE-PP; however, it requires considerably less time for commissioning and decommissioning. The outcomes of the study notably reveal that the NE-PP has a payback only if inflation rate is taken into consideration in the unit electricity price, while PV-PP pays back with and without inflation rate. - Highlights: • Comparison of PV and Nuclear energy power plants for Turkey. • Comparison is carried out using installed powers. • PV power plant has less LOCE value if the land cost is excluded. • Nuclear energy has 8-fold more electricity production than PV power plant

  14. Measuring Social Capital Investment: Scale Development and Examination of Links to Social Capital and Perceived Stress

    Chen, Xinguang; Wang, Peigang; Wegner, Rhiana; Gong, Jie; FANG, XIAOYI; Kaljee, Linda


    Individuals with greater social capital have better health outcomes. Investment in social capital likely increases one’s own social capital, bearing great implications for disease prevention and health promotion. In this study, the authors developed and validated the Social Capital Investment Inventory (SCII). Direct effects of social capital investment on perceived stress, and indirect effects through social capital were examined. 397 Participants from Beijing and Wuhan, China completed surv...


    Chriso O. EMEROLE


    Full Text Available This study on factors influencing decisions for using outside funds for Farm investments and for proprietor withdrawals was carried out among rural small-scale farm households in Abia state, Nigeria. A cross-sectional survey of ninety (90 rural farm households of multi-type (varied enterprises was carried out using cluster random sampling technique in three communities, each chosen from one of the three agricultural zones of the state. Results indicated rural household level variables that positively influenced decisions to source farm investment fund to include level of education, gender, membership of cooperative society, interest charge, land acquisition method, and ease of getting loan. Other factors that negatively influenced decisions include farming as major occupation, household savings, household size, and distance of farmers’ home to source of credit. Proprietor withdrawal decisions were positively influenced by household level variables like taking farming as major occupation, payment of school fees for children of farmers, and amount of credit so far repaid by a farm household. Other factors namely household size, being member of cooperative society or savings group, interest charges on loan, off-farm income, and household savings had negative influences on proprietor withdrawal decisions. We recommended that small-scale farmers should not borrow their start-up capital from outside their households but as their farm businesses stabilize, they could decide to take loans from outside to cover their working capital and/or expand their farms and be prepared to repay such loans according to contractual agreements.

  16. Assessing agreement between measurements recorded on a ratio scale in sports medicine and sports science.

    Nevill, A M; Atkinson, G.


    OBJECTIVE: The consensus of opinion suggests that when assessing measurement agreement, the most appropriate statistic to report is the "95% limits of agreement". The precise form that this interval takes depends on whether a positive relation exists between the differences in measurement methods (errors) and the size of the measurements--that is, heteroscedastic errors. If a positive and significant relation exists, the recommended procedure is to report "the ratio limits of agreement" using...

  17. Optimal investment timing and investment scale decision making under uncertainty%不确定条件下最优投资时机和最优投资规模决策

    阳军; 孟卫东; 熊维勤


    运用实物期权理论,通过求解不变产出和可变产出条件下企业最优投资时机和最优投资规模的解析表达式,比较研究了两种不同条件下同时选择最优投资时机和最优投资规模的决策问题.研究表明,不确定性增大了企业的等待价值,企业将推迟投资,增大投资规模;最优投资规模仅与预期市场需求的不确定性相关,与反映市场需求的某一个实现值的大小无关;可变产出条件下,企业具有更大的投资临界值和更大的投资规模.不确定性降低了企业产能利用率,导致了过度投资的存在;同时,在可变产出条件下企业的产能利用率更低.%In the investment decision making, the enterprise focuses not only on investment timing choice, but on investment scale choice as well. Based on real options theory, by solving the analytical expression of optimal investment timing and optimal scale under the condition of fixed output and variable output, the paper studies comparatively the decision making in simultaneously selecting the optimal investment timing and optimal investment scale. The study shows that the uncertainty increases the expectation waiting value, thus the enterprise will postpone the investment and increase the investment scale. The paper also illustrates that the investment scale is associated with the uncertainty of expected market demand but not associated with a certain size of earned value, which reflects the market demand. Under the condition of variable output, the enterprise has greater investment critical value and larger investment scale. The uncertainty decreases the enterprise's capacity utilization, resulting in the existence of over-investment. Meanwhile the enterprise's capacity utilization is lower under the condition of variable output.

  18. Agreement between the SCORE and D’Agostino Scales for the Classification of High Cardiovascular Risk in Sedentary Spanish Patients

    Luis García-Ortiz


    Full Text Available Background: To evaluate agreement between cardiovascular risk in sedentary patients as estimated by the new Framingham-D’Agostino scale and by the SCORE chart, and to describe the patient characteristics associated with the observed disagreement between the scales. Design: A cross-sectional study was undertaken involving a systematic sample of 2,295 sedentary individuals between 40–65 years of age seen for any reason in 56 primary care offices. An estimation was made of the Pearson correlation coefficient and kappa statistic for the classification of high risk subjects (≥20% according to the Framingham-D’Agostino scale, and ≥5% according to SCORE. Polytomous logistic regression models were fitted to identify the variables associated with the discordance between the two scales. Results: The mean risk in males (35% was 19.5% ± 13% with D’Agostino scale, and 3.2% ± 3.3% with SCORE. Among females, they were 8.1% ± 6.8% and 1.2% ± 2.2%, respectively. The correlation between the two scales was 0.874 in males (95% CI: 0.857–0.889 and 0.818 in females (95% CI: 0.800–0.834, while the kappa index was 0.50 in males (95% CI: 0.44%–0.56% and 0.61 in females (95% CI: 0.52%–0.71%. The most frequent disagreement, characterized by high risk according to D’Agostino scale but not according to SCORE, was much more prevalent among males and proved more probable with increasing age and increased LDL-cholesterol, triglyceride and systolic blood pressure values, as well as among those who used antihypertensive drugs and smokers. Conclusions: The quantitative correlation between the two scales is very high. Patient categorization as corresponding to high risk generates disagreements, mainly among males, where agreement between the two classifications is only moderate.

  19. Cross-rater agreement on common and specific variance of personality scales and items

    Mõttus, René; McCrae, Robert R.; Allik, Jüri; Realo, Anu


    Using the NEO Personality Inventory-3, we analyzed self/informant agreement on personality traits at three levels that were made statistically independent from each other: domains, facets, and individual items. Cross-rater correlations for the common variance in the five domains ranged from 0.36 to 0.65 (M = 0.49), whereas estimates for the specific variance of the 30 facets ranged from 0.40 to 0.73 (M = 0.56). Cross-rater correlations of residual variance of individual items ranged from -0.1...

  20. Do property rights and contract farming matter for rural development? Evidence from a large-scale investment in Ghana

    Väth, Susanne; Kirk, Michael


    With the rising demand for agricultural land, land deals must be designed to benefit not only the investors but also the local population. This paper looks at two ways this might be done for farmers in the vicinity of a large-scale oil palm investment in Ghana: contract farming and secure property rights to land. We compare farmers to whom outgrower contracts were allocated, in a quasi-natural experiment, with independent oil palm growers. We find that property rights have a significantly pos...

  1. DSS Investment Options with Damage Cost Valuation of Water Pollution at a River Basin Scale

    El-Fadel, M.; Maroun, R.; Abou Najm, M. R.; Bou Fakhr Aldeen, R.; Lichaa El-Khoury, D.


    Poor water quality coupled with inadequate water sanitation services and hygiene practices has long been associated with higher water-borne diseases resulting in a serious cost to society in the form of cost of illness and forgone earnings directly related to increased morbidity and premature mortality, as well as cost of protective measures. This paper presents a socio-economic assessment of water quality in the Upper Litani river basin, Lebanon. For this purpose, field surveys were first conducted followed by the application of 1) the human capital and the willingness to pay approaches for mortality valuation, 2) the cost of illness, pain and suffering approach for morbidity valuation, and 3) the market price approach for the valuation of agricultural impacts. Economic benefits of improving water quality and sanitation were examined in the context of a cost- benefit analysis using a Decision Support System to evaluate various investment options in the construction and operation of wastewater treatment plants. The estimated damage costs ranged between 0.22-3.26 percent of the GDP in the study area with an expected return on investment in treatment facilities within 10 to 25 years depending on economic parameters used.

  2. Students' Futures as Investments: The Promise and Challenges of Income-Share Agreements. AEI Series on Private Financing in Higher Education

    Marcus, Jon


    Income-share agreements (ISAs) are an emerging idea for helping students pay for college. Under an ISA, investors provide upfront sums of money toward students' college tuition and other associated costs in exchange for a fixed percentage of the recipients' earnings after graduation. This paper--the first in a series examining private financing in…

  3. Validating the Executive Personal Finance Scale with Financial Investments and Expectations in University Students.

    Yang, Bijou; Lester, David


    The validity of the Executive Personal Finance Scale (EPFS) was tested in a sample of 93 undergraduate students (31 men, 62 women; M age = 20.5 years, SD = 1.3, range = 18-24). Scores on the Motivation drive, Organization, and Planning subscales of this scale were associated with having a savings account, owning bank CDs, and self-estimated knowledge about financial matters, while scores on the Impulse control and Motivational drive subscales were associated with expectations for a satisfactory retirement income. The results provide support for the validity of the EPFS. PMID:27273558

  4. 77 FR 18216 - Applications for New Awards; Investing in Innovation Fund, Scale-Up Grants


    ... assessments that measure students' progress toward college- and career-readiness, including curricular and... FR 11087) and is available at . Scale-up... limited funding to increase the likelihood that the work of successful projects endures and expands...

  5. Cadastral Surveys, Landscape agreements for Cecil County, Published in 2011, 1:4800 (1in=400ft) scale, Cecil County Government.

    NSGIC GIS Inventory (aka Ramona) — This Cadastral Surveys dataset, published at 1:4800 (1in=400ft) scale as of 2011. It is described as 'Landscape agreements for Cecil County'. The extent of these...

  6. Investments in random environments

    Navarro-Barrientos, Jesús Emeterio; Cantero-Álvarez, Rubén; Matias Rodrigues, João F.; Schweitzer, Frank


    We present analytical investigations of a multiplicative stochastic process that models a simple investor dynamics in a random environment. The dynamics of the investor's budget, x(t) , depends on the stochasticity of the return on investment, r(t) , for which different model assumptions are discussed. The fat-tail distribution of the budget is investigated and compared with theoretical predictions. We are mainly interested in the most probable value xmp of the budget that reaches a constant value over time. Based on an analytical investigation of the dynamics, we are able to predict xmpstat . We find a scaling law that relates the most probable value to the characteristic parameters describing the stochastic process. Our analytical results are confirmed by stochastic computer simulations that show a very good agreement with the predictions.

  7. Multiple nuclear power plants investment scenarios: Economy of multiples and Economy of Scale impact on different plant sizes

    Deliberately small nuclear reactors are making their way on the market. They are proposed by manufacturers worldwide (SMART, 4S, SSTAR, mPower, Nuscale, etc...). The idea of an economic attractiveness of Small and Medium sized Reactors (SMR) is counterintuitive, due to the loss of Economy of Scale on a capital intensive investment. Nevertheless a broader understanding of capital costs drivers has shaped a new concept of Economy of Multiples, that applies on multiple NPP deployment. It relies on learning accumulation to mitigate construction costs of later NPP units; design modularization to exploit the benefits of serial production; co-siting economies to decrease the incidence of fixed and site-related costs. We assume that smaller NPP size fosters design modularization and simplifications, with related cost savings. While the effect of modularization on construction costs has been modeled, the estimation of design-based savings may be the upmost arbitrary and controversial, but the underlying assumption is that the lower the plant size, the higher may be the Design cost-saving factor. This work aims to analyze at what extent and conditions the Economy of Multiples holds against the Economy of Scale, when NPP of different sizes are deployed in multiple units, considering that the Economy of Multiples smoothes its benefits with the increase in number of units installed and that the maximum size of the sites is a limit to its application on large reactors (LR). The limit case-study of Very Small Reactors (VSR) is investigated, representing a massive NPP deployment and a huge loss of Economy of Scale. Our analysis is performed by mean of INCAS (Integrated model for the Competitiveness Analysis of Small-medium modular reactors) Polimi's proprietary simulation code. Our results show that the Economy of Multiples holds as a competitive edge for Medium and Small Reactors even when nuclear site may host multiple LR: 8-9% design cost saving is able to grant the same




    This study on factors influencing decisions for using outside funds for Farm investments and for proprietor withdrawals was carried out among rural small-scale farm households in Abia state, Nigeria. A cross-sectional survey of ninety (90) rural farm households of multi-type (varied) enterprises was carried out using cluster random sampling technique in three communities, each chosen from one of the three agricultural zones of the state. Results indicated rural household level variables that ...

  9. Brief Report: Excellent Agreement between Two Brief Autism Scales (Checklist for Autism Spectrum Disorder and Social Responsiveness Scale) Completed Independently by Parents and the Autism Diagnostic Interview-Revised

    Murray, Michael J.; Mayes, Susan Dickerson; Smith, Laura A.


    Agreement between the Autism Diagnostic Interview-Revised (ADI-R) and two brief scales completed by parents was 93.1% for the Checklist for Autism Spectrum Disorder (CASD) and 89.7% for the Social Responsiveness Scale (SRS) in a sample of adolescents with suspected autism spectrum disorders. Our study is consistent with others showing that brief…

  10. A three pronged approach to community scale renewable energy: Education, incremental capital investment and smart grid technology

    Demeo, Anna E.

    ; first hand exposure to technology, providing a sense of independence that strengthens communities, and developing a direct link between the energy people use and how that energy is created. Ultimately community scale renewable energy projects help bolster support for large-scale projects that are imperative to making real and lasting progress towards reducing emissions. Finally, technological advancements in renewable energy generation, energy storage and distribution systems, are imperative to replacing fossil fuels. The shift towards a higher penetration of renewable energy into the electric grid can be realized with the implementation of a more sophisticated smart grid, which uses dynamic demand response to alter demand to follow generation. Introduction of tidal power can serve to further stabilize the grid and reduce the amount of storage required. This work describes an interdisciplinary approach to addressing issues of energy, and thereby climate, through substantive efforts in three concentrations; energy literacy education, community driven renewable energy projects based on incremental capital investment and a smart, micro grid encompassing tidal power and other renewable energy source.

  11. Relationship Power, Sociodemographics, and Their Relative Influence on Sexual Agreements Among Gay Male Couples.

    Perry, Nicholas S; Huebner, David M; Baucom, Brian R; Hoff, Colleen C


    Men who have sex with men (MSM) in primary relationships engage in condomless sex both within and outside their relationships and a majority of HIV transmission risk may actually occur within primary relationships. Sexual agreements regarding non-monogamy are a critical component to understanding HIV prevention in male couples. Relationship factors have been associated with how sexual agreements function and power is one dyadic construct likely to affect couple's maintenance of non-monogamy agreements. Multilevel modeling was used in a cross-sectional study of gay male couples (N = 566 couples) to examine associations between partners' demographic characteristics traditionally used to define relationship power, a scale of decision-making power, and outcomes related to sexual agreements, including investment, agreement breaks, and break disclosure. Results indicated that decision-making power relative to one's partner was not associated with any agreement outcome, contrary to hypotheses. However, controlling for decision-making power, demographic bases of power were variably associated with sexual agreements' functioning. Younger partners were less invested in and more frequently broke their agreements. Lower-earning partners broke their agreements more frequently, but also disclosed breaks more often. White men in white-minority relationships broke their agreement more often than their partners. Concordant HIV-positive couples were less invested in their agreements and HIV-positive men disclosed breaks more frequently. HIV prevention efforts for same-sex couples must attend to the social, developmental, and cultural influences that affect their agreements around non-monogamy. PMID:26391687

  12. Modelling Negative Binomial as a substitute model to Poisson for raters agreement on ordinal scales with sparse data

    Adejumo, A. O.; Heumann, Christian; Toutenburg, Helge


    The Poisson distribution has been widely used for modelling rater agreement using loglinear models. Mostly in all life or social science researches, subjects are being classified into categories by rater, interviewers or observers and most of these tables indicate that the cell counts are mixtures of either too big values and two small values or zeroes which are sparse data. We refer to sparse as a situation when a large number of cell frequencies are very small. For these kinds of tables, th...

  13. Trade Agreements

    Kowalczyk, Carsten; Riezman, Raymond


    This paper reviews the most significant recent developments in the theory of trade agreements. The paper offers an integrated approach to evaluating trade agreements, and uses the approach to present results on preferential and multilateral trade agreements. The paper identifies also several questions for further research.

  14. Analisis Hukum Kedudukan Joint Venture Agreement Dalam Perusahaan Penanaman Modal

    Nasution, Karina Utari


    Capital investment in the era of globalization is inseparable from the series of international agreements in which Indonesia is involved. Joint venture agreement in the framework of foreign investment in Indonesia is the first step to establish a joint venture company which is a must for foreign investors planning to invest their capital in Indonesia. A foreign investment company is not only subject to Law No.25/2007 on Capital Investment but also to law No.40/2007 on Limited L...

  15. Investment Avenues

    Jain, Priyanka


    Investors are a heterogeneous group, they may be large or small, rich or poor, expert or lay man and not all investors need equal degree of protection (Mayya, 1996). An investor has three objectives while investing his money, namely safety of invested money, liquidity position of invested money and return on investment. The return on investment may further be divided into capital gain and the rate of return on investment as interest or dividend. Among all investment options available, securities are considered the most challenging as well as rewarding. Securities include shares, debentures, derivatives, units of mutual funds, Government securities etc. An investor may be an individual or corporate legal entity investing funds with a view to derive maximum economic advantage from investment such as rate of return, capital appreciation, marketability, tax advantage and convenience of investment.The Capital market facilitates mobilization of savings of individuals and pools them into reservoir of capital which can be used for the economic development of a country. An efficient capital market is essential for raising capital by the corporate sector of the economy and for the protection of the interest of investors in corporate securities. There arises a need to strike a balance between raising of capital for economic development on one side and protection of investors on the other. Unless the interests of investors are protected, raising of capital, by corporates is not possible. Like, the primary objective of a senior citizenís asset allocation is the generation of regular income.

  16. Late Stage HIV/AIDS Patients’ and Their Familial Caregivers’ Agreement on the Palliative Care Outcome Scale

    Krug, Rachel; Karus, Daniel; Selwyn, Peter A.; Raveis, Victoria H.


    This study compares the self-assessments of 67 late stage HIV/AIDS patients regarding their symptomatology, sense of self-worth and several other aspects of their health care situation, to assessments of that situation provided by their informal caregivers. As part of a dyadic study of care preferences, patients and caregivers independently completed nearly identical versions of the Palliative Care Outcome Scale (POS), a short ten-item measure of the patient’s current health, social, and psyc...

  17. Bilateral agreements

    Ten bilateral agreements are presented. These are: 1) Co-operation agreement relating to the peaceful uses of nuclear energy between Argentina and EURATOM (1996); 2) Agreement on co-operation in the peaceful uses of nuclear energy between Argentina and Greece (1997); 3) Implementing arrangement for technical exchange and co-operation in the area of peaceful uses of nuclear energy between Argentina and the United States (1997); 4) Agreement concerning co-operation in nuclear science and technology between Australia and Indonesia (1997); 5) Implementation of the 1985 Agreement for co-operation concerning the peaceful uses of nuclear energy between the People's Republic of China and the United States (1998); 6) Protocol of co-operation between France and Lithuania (1997); 7) Agreement on co-operation in energy research, science and technology, and development between Germany and the United States (1998); 8) Agreement on early notification of a nuclear accident and exchange of information on nuclear facilities between Greece and Romania (1997); 9) Agreement on early notification of nuclear accidents and co-operation in the field of nuclear safety between Hungary and the Ukraine (1997); 10) Agreement in the field of radioactive waste management between Switzerland and the United States (1997). (K.A.)

  18. Analysis of agreement between Visual Analogue Scales (VAS and numerical questions to assess perception of teratogenic risks in treatment with drugs and radiotherapy in women

    Emilia da Silva Pons


    Full Text Available Objectives: to evaluate the agreement between Visual Analogue Scales (VAS and numerical questions as a way of assessing the perception of teratogenic risk of treatment with drugs and radiotherapy. Methods: the sample comprised 144 pregnant and 143 non-pregnant women consecutively recruited at public health centers in Porto Alegre, in the State of Rio Grande do Sul, from February to August 2011. The perception of risk for congenital malformations in the general population and the perceptions of teratogenic risk for exposure to acetaminophen, meto-clopramide, misoprostol and radiotherapy were measured using VAS and numerical questions. The agreement between the results of the two techniques was tested using a Bland-Altman plot. Results: the medians for the perceptions measured using VAS were higher than those obtained using numerical questions for all variables. The perception of risk for acetaminophen showed the lower bias of the two techniques (bias=13.17; p<0.001 and exposure to radiotherapy, the higher (bias=25.02; p<0.001. Conclusion: there was no agreement between the measurements obtained using the two techniques for any of the risk perceptions under study. Risk perceptions were higher using VAS, for all kinds of exposure. Studies should be conducted to assess whether there is overestimation in other situations and social contexts owing to the use of VAS.




    Full Text Available Balkan region, located in the south eastern part of the European Continent, is composed Albania, Bosnia and Herzegovina, Bulgaria, Montenegro, Kosovo, Macedonia, Greece with a portion of the Croatia, Romania, Serbia, Slovenia and Turkey. Southeast Europe are composed of Slovenia, Croatia, Bosnia and Herzegovina, Serbia, Montenegro, Kosovo, Macedonia and Albania which known as the Western Balkans countries. That international investments are assessed on a regional and global scale in the Balkans, these investments gained importance after the 1990s with political, social and geographical variation. In the 2000s, after legal and administrative framework oriented reforms of investments which are continuations of global integration efforts, development of the investment opportunities in Balkans have been considered positively. While the investment incentive structures and rates differ on the basis of the countries, they are of capital importance for investors. After the 2008 global economic crisis which has happened because of the economic shrinkage on global scale, despite the worries for political and economic unsteadiness in specific countries, development of investments in Balkans has not been affected in a negative way. In this study development of investment in Balkans is analysed with negative and positive factors, investment opportunities and incentives are examined on the basis of countries. The Balkans gain acceleration positively thanks to the reforms of investment opportunities on the national scope. As to the need of investment development oriented local and international coordinated programme and approach is an important issue that should be analysed.

  20. Sexual agreements in the partnerships of internet-using men who have sex with men.

    Gass, Katherine; Hoff, Colleen C; Stephenson, Rob; Sullivan, Patrick S


    Recent studies among men who have sex with men (MSM) have found that the majority of HIV transmission results from sex with a main partner. One factor likely to affect the risk of transmission is the type of agreements the couple has regarding sexual behaviour within and outside the relationship. This study recruited 732 Internet-using MSM through Facebook banner ads. Participants completed an online questionnaire regarding demographic characteristics of the respondent and their main partner, the sexual behaviour of the couple, the existence of a sexual agreement, and the strength of investment in that agreement. The Pearson chi-square test was used to assess the association between sexual agreements (categorized as open, closed, or none) and the predictive variables. Respondents' investment in their sexual agreement was measured using the sexual agreement investment scale (a composite score ranging from 0 to 52). Ninety-one percent of respondents had some form of sexual agreement in place with their main partner. The presence and type of sexual agreement was found to be strongly associated with many characteristics of the individual and couple, including the respondent's HIV status, length of time with the main partner, having unprotected anal intercourse with a man other than their main partner, and happiness in the relationship. Increases in the strength of respondents' investment in their sexual agreement were found to be associated with newness of the relationship, relationship happiness, having a closed relationship, and decreases in risky sexual behaviour. This study offers further evidence of the important role that sexual agreements play in male couples. The overwhelming prevalence of sexual agreements and their association with relationship happiness and risky sexual behaviours has important implications for future HIV prevention and control strategies, including the implementation of couples voluntary counseling and testing. PMID:22375729

  1. Roaming and Investments in the Mobile Internet Market

    Stühmeier, Torben


    This model discusses mobile network operators' (MNOs) incentives to invest in their network facilities such as new 4G networks under various regimes of data roaming charge regulation. Given an induced externality of investments (spillovers) due to the roaming agreements it will be shown that MNOs, competing on investments, widely set higher investments for below cost regulation of roaming charges. Otherwise, if MNOs are free to collaborate on investments, they set higher investment levels for...

  2. Creative Investment


    Prices for Chinese art are shattering records locally and internationally. Is the investment well placed?Mem Aziz is brimming with confidence about the future of his business in China. Director of Australia’s Redrock Gallery,

  3. Agreement for depression diagnosis between DSM-IV-TR criteria, three validated scales, oncologist assessment, and psychiatric clinical interview in elderly patients with advanced ovarian cancer

    Rhondali W


    Full Text Available Wadih Rhondali,1 Gilles Freyer,2 Virginie Adam,3 Marilène Filbet,4 Martine Derzelle,5 Gaelle Abgrall-Barbry,6 Sophie Bourcelot,7 Jean-Louis Machavoine,8 Muriel Chomat-Neyraud,9 Olivier Gisserot,10 Rémi Largillier,11 Annick Le Rol,12 Frank Priou,13 Pierre Saltel,14 Claire Falandry15 1Clinique Mon Repos, Clinea, Marseille, France; 2Medical Oncology Unit, Centre Hospitalier Lyon Sud, Université Lyon 1, Pierre-Benite, France; 3Institut de Cancérologie de Lorraine Alexis Vautrin, Vandoeuvre-lès-Nancy, France; 4Palliative Unit, Centre Hospitalier Lyon Sud, Université Lyon 1, Pierre-Benite, France; 5Institut Jean Godinot, Reims, France; 6Tenon Hospital, Assistance Publique Hôpitaux de Paris, Paris, France; 7Centre Léon Bérard, Lyon, France; 8Centre François Baclesse, Caen, France; 9Centre Hospitalier de la région d’Annecy, Pringy, France; 10Hôpital d’Instruction des Armées Sainte-Anne, Toulon, France; 11Centre Azuréen de Cancérologie, Mougins, France; 12Medical Oncology, Hôpital Perpétuel Secours, Levallois-Perret, France; 13Medical Oncology, Centre Hospitalier Départemental Les Oudairies, La Roche-sur-Yon, France; 14Supportive Care Department, Centre Léon Bérard, Lyon, France; 15Geriatrics and Oncology Unit, Centre Hospitalier Lyon Sud, Université Lyon 1, Pierre-Bénite, France Background: Depression, a major outcome in cancer patients, is often evaluated by physicians relying on their clinical impressions rather than patient self-report. Our aim was to assess agreement between patient self-reported depression, oncologist assessment (OA, and psychiatric clinical interview (PCI in elderly patients with advanced ovarian cancer (AOC.Methods: This analysis was a secondary endpoint of the Elderly Women AOC Trial 3 (EWOT3, designed to assess the impact of geriatric covariates, notably depression, on survival in patients older than 70 years of age. Depression was assessed using the Geriatric Depression Scale-30 (GDS, the Hospital

  4. Value Investing

    Kubínyi, Tomáš


    This bachelor's thesis deals with value investing in the form defined by Benjamin Graham. In clarifying the theoretical aspects, particular attention is given to an intrinsic value of stocks and to its calculation methods. A way to overcome the deficiencies in the two most widely used models of calculation is introduced. It is value screening, which by defining of certain criteria makes an assumption of undervalued stocks. Then the investment approach of the most successful investor, Warren B...

  5. Investment banks

    Lejot, P


    Investment banking is a generic term for transactional activities involving financial intermediation conducted through open markets. It was long associated with a legal demarcation in the US and Japan that separated banks that made loans and took deposits from those that traded in securities, but now denotes risk-based activities in banks of any kind. This paper explains investment banking practices in terms of reputational capital, and contrasts the transactional skills and innovation found ...

  6. Survey on Current Conditions and Intention of Outbound Investment by Chinese Enterprises (Ⅱ)

    China Council for the Promotion of International T


    @@ Situation of the Overseas Investments of Chinese Enterprises 1. Small scale of investments Of the respondent enterprise having made overseas in-vestments, those with an investment amount of less than one million USD account for 61%, and only ten of them made investments exceeding 100 million USD, accounting for only about 1%. It thus appears that the overall scale of current overseas investments of Chinese enterprises is small, and only a very few enterprises have made large scale overseas invest-ments.

  7. The Re-Calibration of EU International Investment Agreement Policy and Its Impact on China-EU BIT Negotiation%欧盟国际投资协定政策的革新及其对中欧 BIT谈判的影响



    The launch of the EU comprehensive investment policy repre-sents one of the most significant development in the area of international invest-ment law in recent years.Since the entry into force of the Treaty of Lisbon in 2009, the scope of the EU's exclusive competence has been extended to include policies over foreign direct investment.The EU then decided to exercise this new competence by negotiating comprehensive investment agreements covering invest-ment liberalization, investment protection and sustainable development.These a-greements wil gradual y replace BITs signed by individual Member States.The freshly concluded CETA with Canada and FTA with Singapore are the first two products of the EU comprehensive investment policy.Compared to Member State BITs, these two agreements substantial y recalibrated investment protection provi-sions, with a view to rebalancing investors'rights and host countries'public inter-ests and improving the legitimacy of ISDS regime.This suggests an ongoing trend of convergence between the EU and China on treaty practice.However, diver-gence remains deep on a variety of rules, which might be the key chal enges to successful y negotiating a China—EU BIT.%欧盟综合性国际投资政策的实施是近年国际投资法领域最重大的发展之一。2009年《里斯本条约》生效后,外国直接投资成为欧盟的专属权能。依据新增加的权能,欧盟决定将国际投资协定的范围扩至投资自由化条款、投资保护条款和可持续发展条款,逐步取代成员国缔结的双边投资协定。《欧盟—加拿大综合经济和贸易协定》和《欧盟—新加坡自由贸易协定》是实施新政策后最先签署的综合性国际投资协定。相较于成员国双边投资协定,新的欧盟投资协定引入了诸多革新举措,意在实现投资者利益和缔约国公共利益的再平衡,增强投资争端解决机制的合法性。中欧双方晚近投资协定的实践日益

  8. Parent-Child Agreement Using the Spence Children’s Anxiety Scale and a Thermometer in Children with Autism Spectrum Disorder

    T. May


    Full Text Available Children with Autism Spectrum Disorder (ASD experience high anxiety which often prompts clinical referral and requires intervention. This study aimed to compare parent and child reports on the Spence Children’s Anxiety Scale (SCAS and a child-reported “worry thermometer” in 88 children aged 8–13 years, 44 with ASD and 44 age, gender, and perceptual IQ matched typically developing children. There were no gender differences in child report on the SCAS and worry thermometers. Results indicated generally good correlations between parent and child self-reported SCAS symptoms for typically developing children but poor agreement in parent-child ASD dyads. The worry thermometer child-report did not reflect child or parent reports on the SCAS. Findings suggest 8–13-year-old children with ASD may have difficulties accurately reporting their anxiety levels. The clinical implications were discussed.

  9. Mathematical analysis of investment systems

    Zhu, Q. J.


    Investment systems are studied using a framework that emphasize their profiles (the cumulative probability distribution on all the possible percentage gains of trades) and their log return functions (the expected average return per trade in logarithmic scale as a function of the investment size in terms of the percentage of the available capital). The efficiency index for an investment system, defined as the maximum of the log return function, is proposed as a measure to compare investment systems for their intrinsic merit. This efficiency index can be viewed as a generalization of Shannon's information rate for a communication channel. Applications are illustrated.

  10. The Sicomines Agreement

    Jansson, Johanna

    ), was to the benefit of the policy preferences of the IMF and the World Bank. This case thus indicates that since China’s own aspirations are changeable, its emergence as an alternative development partner may not bring about any substantive change of direction for the DRC’s international relations....... Furthermore, the investment into the DRC’s mining sector is in itself beneficial for the country, and the renegotiation of the agreement was positive in the sense that the Congolese state guarantee for the mining component was removed. However, the question of whether the Sicomines agreement is a good deal...... for the DRC will remain unanswered until the infrastructure projects have been delivered. The importance of the Congolese Agency for Public Works’ task to price each project and ensure that monitoring is conducted properly can therefore not be overestimated....

  11. Financing Investment

    Hirth, Stefan; Flor, Christian Riis

    Intuition suggests that corporate investment should be decreasing in financing constraints. We show that even when financing is obtained using a standard debt contract and there is symmetric information between the firm and outside investors, the relation is actually U-shaped. We thus provide a new...... theoretical explanation for the recent empirical findings of Cleary et al. (2007). We split up the endogenously implied financing costs and propose a trade-off between expected liquidation costs and second-best investment costs. For rather unconstrained firms, the risk of costly liquidation dominates the cost...

  12. "Strategic International Agreement on Global Environment Management"

    Kazuharu Kiyono; Masahiro Okuno-Fujiwara


    When future international agreement on global environmental control is anticipated, decisions for controlling current carbon gas emissions by improving the country's abatement capabilities are strongly affected by the likelihood of such agreements as well as their probable outcome. We construct a two-period, two-country model where the quality of the atmospheric environment is a global public capital. Countries invest in abatement investments in the first period and engage in production activ...

  13. Agreement Highlights


    Chen Yunlin, President of the mainland’s Association for Relations Across the Taiwan Straits and Chiang Pinkung, Chairman of Taiwan-based Straits Exchange Foundation, signed agreements on direct air, shipping and postal services and food safety cooperation during their summit in Taipei on November 4. Direct Flights——The two sides agree to launch a cargo charter flight service between two mainland terminals, Pudong in Shanghai and Guangzhou airports, and two Taiwan ones, Taoyuan and Kaohsiung.

  14. Agreement technologies

    Ossowski, Sascha


    More and more transactions, whether in business or related to leisure activities, are mediated automatically by computers and computer networks, and this trend is having a significant impact on the conception and design of new computer applications. The next generation of these applications will be based on software agents to which increasingly complex tasks can be delegated, and which interact with each other in sophisticated ways so as to forge agreements in the interest of their human users. The wide variety of technologies supporting this vision is the subject of this volume. It summarises

  15. Spillovers and international competition for investments

    Olsen, Trond E.; Osmundsen, Petter


    Two jurisdictions compete to attract shares of the investment budget of a large multinational enterprise, whose investments confer positive spillovers on national firms. The firm has private information about its efficiency and about spillovers. It is shown that the firm may gain from governmental tax coordination. Relative to a cooperative tax agreement, tax competition may induce excessive investments in the country where the positive spillover effects are lowest. Also, with sufficiently as...

  16. 76 FR 74060 - Notice of Agreements Filed


    ... geographic scope to include Sri Lanka, the United Arab Emirates, Indonesia, Korea, and Australia. Agreement... Agriculture Investment Export, Inc. Filing Party: Wade S. Hooker, Esquire, 21 Central Park W.; New York, NY 10024. Synopsis: The agreement authorizes Great White Fleet to charter space to Agriculture...

  17. Option Strike Price and Managerial Investment Decisions

    刘鸿雁; 张维


    The manager′s investment decisions is modeled when the manager is risk-averse and has stock options as compensation. It is found that the strike price of options is crucial to the investment incentives of managers, and that the correct value, or interval of values, of managerial stock option strike price can bring stockholder and manager interests in agreement.

  18. Boosting Infrastructure Investments in Africa

    Donald Kaberuka


    The absolute and relative lack of infrastructure in Africa suggests that the continent’s competitiveness could be boosted by scaling up investments in infrastructure. Such investments would facilitate domestic and international trade, enhance Africa’s integration into the global economy and promote better human development outcomes, especially, by bringing unconnected rural communities into the mainstream economy. While there are yawning gaps in all infrastructure subsectors, inadequate e...

  19. The Role of International Investment Law in Renewable Energy Investment; focus on Build Operate and Transfer (BOT) Contracts

    Adetiloye, Idowu Adejoke


    Renewable energy is one of the ways of reducing greenhouse gas emission. There is need for more investment in this sector. However, lack of stable regulatory framework and change in policy makes it unattractive to investors. International investment laws through its protections in investment agreement can help to mitigate risks considered by investors especially those with Build, Operate and Transfer (BOT) type of contracts.

  20. Investing without credible inter-period regulations. A bargaining approach with application to investments in natural resources

    A government's lack of credibility when promising future taxation and regulation of foreign direct investment is often regarded as an obstacle to foreign investment. As shown in this paper, the total lack of inter-period credibility may not necessarily prevent investments from taking place. Both the government and the investor can benefit from negotiating a series of short-lived agreements in which the investor obtains a share of the revenue generated from previous investments against the undertaking of making new investments. This assumes that intra-period agreements are respected by the parties


    Dr. Roshankumar M. Bhigania


    Full Text Available FOREIGN DIRECT INVESTMENT (FDI : Introduction – Importance of Foreign Capital – Types of Foreign Capital – Government Policy on Foreign Direct Investment –Role of Foreign Direct Investment in the inflow of Foreign Capital.

  2. Achieving Investment Autonomy.

    Flynn, Jeffrey B.


    Public investors can lower commissions through investment autonomy, that is, implementing the investment decision process without outside input. Details some techniques for fine-tuning the investment process. (MLF)

  3. Sustainable Markets Investment Briefings: Investment Treaties

    Cotula, Lorenzo


    This is the second of a series of briefings which discuss the sustainable development issues raised by legal arrangements for the protection of foreign investment. The briefings are based on legal research by IIED and its partners. The goal is to provide accessible but accurate information for human rights, development and environmental organisations working on issues raised by foreign investment in low- and middle-income countries. Briefing 2 explains how investment treaties between states work to protect and promote foreign investment.

  4. Investments in human capital

    Milost, Franko; Novak, Matic


    Investments in human capital (employees) include investments in the direct assurance of working abilities, investments in health and well-being and investments in loyalty to the company. These investments are crucial for the long-term existence and development of a company, but their value is not disclosed on the assets side of the classical balance sheet. The most important argument given by the proponents of this approach is that the economic benefits stemming from such investments are unce...

  5. 75 FR 21614 - Investing in Innovation Fund


    ... Register (75 FR 12072) a notice inviting applications for new awards for FY 2010 (NIA) for the Investing in... Investing in Innovation Fund Catalog of Federal Domestic Assistance (CFDA) Numbers: 84.396A (Scale-up grants), 84.396B (Validation grants), and 84.396C (Development grants). AGENCY: Office of Innovation...

  6. 76 FR 34969 - Investing in Innovation Fund


    ... notices inviting applications for the i3 program in the Federal Register on June 3, 2011 (76 FR 32148... Investing in Innovation Fund AGENCY: Office of Innovation and Improvement, Department of Education. ACTION... Investing in Innovation Fund Catalog of Federal Domestic Assistance (CFDA) Numbers: 84.411A (Scale-up...

  7. Land Use and Land Cover, Farmland Preservation Program - agreements, Published in 2009, 1:24000 (1in=2000ft) scale, Wisconsin Department of Agriculture, Trade & Consumer Protection.

    NSGIC GIS Inventory (aka Ramona) — This Land Use and Land Cover dataset, published at 1:24000 (1in=2000ft) scale, was produced all or in part from Published Reports/Deeds information as of 2009. It...

  8. Parental Care and Investment

    González-Voyer, Alejandro; Kolm, N.


    Parental care is common throughout the animal kingdom and among caring species there is a bewildering variation in how parents care for offspring, as well as in the amount of resources parents invest in care. For instance, there is considerable variation in the relative parental investment by the sexes – in some species females invest more, in others males invest more, and in some investment is more or less equally shared. Different hypotheses have been proposed to explain patterns of parenta...

  9. Evaluation of Investment Plan

    Němeček, Petr


    Subject of this thesis is to evaluate the economic efficiency of the implemented investment plan. The theoretical part of the thesis is focused on presenting the most used methods of evaluation the economic effectivness of investment activity, it is also described the significance of the investment decisions and the investment plans. At the end of the theoretical part are the characteristics of the company and realized investment plan including the SWOT analysis. The practical par...

  10. Crowdfunding: disintermediated investment banking

    Rubinton, Brian J


    This paper introduces crowdfunding as a concept and model for the evolution of investment banking. Crowdfunding, an application of crowdsourcing, is defined as one party’s attempt to finance a project by offering three types of investment opportunities to potential investors. The investment opportunities are donations, passive investments, and active investments. From this foundation I develop a model in which interdependent agents operate in a dynamic, discrete setting. Potential investors d...

  11. Foreign Direct Investment in Mexico since the Approval of NAFTA

    Cuevas, Alfredo; Messmacher, Miguel; Werner, Alejandro


    Cross-country panel data are used to assess the effect of free-trade agreements on flows of Foreign Direct Investment (FDI). Free-trade agreements are found to have a significant positive effect on FDI flows, and free-trade agreements are found to matter more for the smaller members of the agreement. For example, the North American Free-Trade Agreement's (NAFTA) effect on FDI flows into Me...

  12. Human Rights Promotion through Transnational Investment Regimes: An International Political Economy Approach

    Claire Cutler


    Full Text Available International investment agreements are foundational instruments in a transnational investment regime that governs how states regulate the foreign-owned assets and the foreign investment activities of private actors. Over 3,000 investment agreements between states govern key governmental powers and form the basis for an emerging transnational investment regime. This transnational regime significantly decentralizes, denationalizes, and privatizes decision-making and policy choices over foreign investment. Investment agreements set limits to state action in a number of areas of vital public concern, including the protection of human and labour rights, the environment, and sustainable development. They determine the distribution of power between foreign investors and host states and their societies. However, the societies in which they operate seldom have any input into the terms or operation of these agreements, raising crucial questions of their democratic legitimacy as mechanisms of governance. This paper draws on political science and law to explore the political economy of international investment agreements and asks whether these agreements are potential vehicles for promoting international human rights. The analysis provides an historical account of the investment regime, while a review of the political economy of international investment agreements identifies what appears to be a paradox at the core of their operation. It then examines contract theory for insight into this apparent paradox and considers whether investment agreements are suitable mechanisms for advancing international human rights.

  13. Client/consultant model services agreement

    International Federation of Consulting Engineers


    The terms of the Client Consultant Model Services agreement (The White Book) have been prepared by the Fédération Internationale des Ingénieurs-Conseils (FIDIC) and are recommended for general use for the purposes of pre-investment and feasibility studies, designs and administration of construction and project management, where proposals for such services are invited on an international basis. They are equally adaptable for domestic agreements. - See more at:

  14. An Enabling Regulatory Environment for Sustainable Investment: The Example of Trade Law

    Bürgi, Elisabeth


    There is broad international agreement that investment flows to the agricultural sector in developing countries need to be increased. But there is also agreement that such investments need to be sustainable. For being sustainable, they must not only be beneficial to the public economy, but also to rural households and to the environment in the short and the long run. Whether sustainable investments take place, not least depends on the legal framework within which these investments are situate...

  15. Evolving trade policy and the Trans-Pacific Partnership Agreement: does it threaten Vietnam's access to medicine and its progress towards scaling up HIV prevention, treatment and care?

    Linh, Nguyen Nhat; Huong, Nguyen Thanh; Thuy, Hua Thanh


    The Trans-Pacific Partnership Agreement (TPP) has undergone 18 rounds of secretive negotiation between the USA and 11 Asia-Pacific countries. Aiming at a free trade area, this multilateral trade proposal covers all aspects of commercial relations among the countries involved. Despite some anticipated positive impacts in trade, specific articles in this proposal's intellectual property and transparency chapters might negatively impact access to medicine, in general, and to antiretroviral (ARV) drugs, in particular, in Vietnam. Drawing on a desk review and qualitative in-depth interviews with 20 key informants from government, academia, hospitals and civil society, we analyse various provisions of the proposal being negotiated leaked after the 14th round of negotiations in September 2012. Findings suggest that the TPP could lead to increased monopoly protection and could limit technological advancements within the local pharmaceutical manufacturing industry, resulting in higher medicine prices in Vietnam. This outcome would have a significant impact on Vietnam's ability to achieve goals for HIV prevention, treatment and care, and create barriers to universal health-care coverage. This research provides unique evidence for Vietnam to advocate for more equitable pharmaceutical provisions in and to raise awareness of the implications of the TPP among the pharmaceutical stakeholder community in Vietnam. PMID:25469870

  16. Agreement Workflow Tool (AWT)

    Social Security Administration — The Agreement Workflow Tool (AWT) is a role-based Intranet application used for processing SSA's Reimbursable Agreements according to SSA's standards. AWT provides...

  17. Quantitative investment analysis

    DeFusco, Richard


    In the "Second Edition" of "Quantitative Investment Analysis," financial experts Richard DeFusco, Dennis McLeavey, Jerald Pinto, and David Runkle outline the tools and techniques needed to understand and apply quantitative methods to today's investment process.


    Ph. D. Student Ioana - Julieta Josan


    Full Text Available Once with the development of the human capital theory, the education received an economic value. Leading theorists and specialists in the field have shown that the remarkable economic effects of the investments in education influence the chances of acquiring a job and earnings, demonstrating how the theory justifies such an investment. At the hand, the allocation of resources in human capital brings performance and benefits to companies investing in their employees. Also, the investment in human capital is strategic for any country that seeks to create a knowledge economy. Considering the above arguments, the aim of this paper is to highlight the characteristics of investment in human capital, the types of investment, the factors of education investment and the entities interested in investing and their benefits.

  19. Foreign Investment Expanded


    The paid-in foreign direct investment in China totaled $74.8 billion in 2007,up 13.6 percent year on year Foreign investment in China has continued robust growth despite the new corporate income tax poli- cies. Figures from the National Bureau of Statistics show that paid-in foreign direct investment(FDI)(excluding investment from foreign financial institutions)totaled $74.8 billion in 2007,up 13.6 percent year

  20. Pension Fund Investment Policy

    Zvi Bodie


    The purpose of this paper is to survey what is known about the investment policy of pension funds. Pension fund investment policy depends critically on the type of plan: defined contribution versus defined benefit. For defined contribution plans investment policy is not much different than it is for an individual deciding how to invest the money in an Individual Retirement Account (IRA). The guiding principle is efficient diversification, that is, achieving the maximum expected return for any...

  1. Investment under Anarchy

    David M. Bruner; Oxoby, Robert J


    This paper presents an experimental test of a 2-player, one-shot game of conflict in which we vary the strength of property rights and the return on investment. Our results suggest that stronger property rights reduce conflict and increase investment. Contrary to intuition, we find increasing the rate of return has practically no effect on investment and that this failure to stimulate investment is largely due to deficiencies in property right institutions.

  2. Irreversibility, Uncertainty, and Investment

    Robert S. Pindyck


    Most investment expenditures have two important characteristics: First, they are largely irreversible; the firm cannot disinvest, so the expenditures are sunk costs. Second, they can be delayed, allowing the firm to wait for new information about prices, costs, and other market conditions before committing resources. An emerging literature has shown that this has important implications for investment decisions, and for the determinants of investment spending. Irreversible investment is especi...

  3. Optimal Responsible Investment

    Jessen, Pernille

    The paper studies retail Socially Responsible Investment and portfolio allocation. It extends conventional portfolio theory by allowing for a personal value based investment decision. When preferences for responsibility enter the framework for mean-variance analysis, it yields an optimal...... responsible investment model. An example of index investing illustrates the theory. Results show that it is crucial for the responsible investor to consider portfolio risk, expected return, and responsibility simultaneously in order to obtain an optimal portfolio. The model enables responsible investors to...

  4. Gold as an investment

    Zemánek, Adam


    Bachelor thesis was created to understand investments in gold, to analyse the develop-ment of its price, discussing the reasons why people should invest in gold. Moreover, it introduces different forms of availability and possible earnings from investing in gold. First part is focused on describing important properties of this valuable commodity. Second part of the thesis analyses specific possibilities of investments and compares them with each other from the point of view of an investor.

  5. A proposal to finance low carbon investment in Europe

    This year, Europe is confronted with a critical double challenge: addressing the climate change issue and pulling itself out of a persistent low growth trap. Today these two challenges are addressed separately. On the one hand, climate negotiations must reach a historical agreement in the Paris conference in December 2015. On the other hand, the Juncker Plan of 315 billion euros of investment, and above all the ECB announcement of a massive purchase of assets for an amount of around 1100 billion euros, must help to avoid a deflationary spiral and stimulate a new flow of investments. Regarding climate policies, public regulators have essentially focused on a carbon price, which remains today at an insufficient level to trigger the financing needs of the low carbon transition. The potential of the banking and saving channels (targets of the asset purchase program of the ECB) to scale up climate finance is however neglected. This 'Note d'analyse' proposes to make private low-carbon assets eligible for the ECB asset purchase program. The carbon impact of these assets would benefit from a public guarantee that would value their carbon externality at a level sufficient to compensate the absence of an adequate carbon price. This mechanism would immediately impact the investment decisions of private actors with a positive effect on growth. It would also strongly incite governments to progressively implement carbon pricing tools to ensure that the public backing of the value of the carbon assets remains neutral with respect to public budgets. (authors)

  6. Optimal Responsible Investment

    Jessen, Pernille

    Numerous institutions are now engaged in Socially Responsible Investment or have signed the "UN Principles for Responsible Investment". Retail investors, however, are still lacking behind. This is peculiar since the sector constitutes key stakeholders in environmental, social and governmental...... new dimension is incorporated into the investment decision....

  7. Sustainable Markets Investment Briefings: Foreign investment contracts

    Cotula, Lorenzo


    This is the fourth of a series of briefings which discuss the sustainable development issues raised by legal arrangements for the protection of foreign investment. The briefings are based on legal research by IIED and its partners. The goal is to provide accessible but accurate information for human rights, development and environmental organisations working on issues raised by foreign investment in low- and middle-income countries. Briefing 4 sets out some of the ways in which foreign investment contracts can impact on sustainable development.

  8. A General Mathematical Framework for Calculating Systems-Scale Efficiency of Energy Extraction and Conversion: Energy Return on Investment (EROI and Other Energy Return Ratios

    Adam R. Brandt


    Full Text Available The efficiencies of energy extraction and conversion systems are typically expressed using energy return ratios (ERRs such as the net energy ratio (NER or energy return on investment (EROI. A lack of a general mathematical framework prevents inter-comparison of NER/EROI estimates between authors: methods used are not standardized, nor is there a framework for succinctly reporting results in a consistent fashion. In this paper we derive normalized mathematical forms of four ERRs for energy extraction and conversion pathways. A bottom-up (process model formulation is developed for an n-stage energy harvesting and conversion pathway with various system boundaries. Formations with the broadest system boundaries use insights from life cycle analysis to suggest a hybrid process model/economic input output based framework. These models include indirect energy consumption due to external energy inputs and embodied energy in materials. Illustrative example results are given for simple energy extraction and conversion pathways. Lastly, we discuss the limitations of this approach and the intersection of this methodology with “top-down” economic approaches.

  9. Action Investment Energy Games

    Larsen, Kim Guldstrand; Laursen, Simon; Srba, Jiri


    We introduce the formalism of action investment energy games where we study the trade-off between investments limited by given budgets and resource constrained (energy) behavior of the underlying system. More specifically, we consider energy games extended with costs of enabling actions and fixed...... budgets for each player. We ask the question whether for any Player 2 investment there exists a Player 1 investment such that Player 1 wins the resulting energy game. We study the action investment energy game for energy intervals with both upper and lower bounds, and with a lower bound only, and give a...

  10. Agricultural Investment Environment in Shaanxi Province


    The features of ageing,low educational level and female domination on the part of agricultural labor forces,determine that the sustainable development of agriculture can not rely entirely on farmers,who are engaged in dispersed planting and small-scale operation,therefore,improving agricultural investment environment,and taking positive measures to promote diversification of the main body of agricultural investment,is the key to the healthy development of agriculture.From four aspects(the industrial base of agriculture,arable land resource conditions,capital investment capacity,input of means of production),this article establishes evaluation indicator system of agricultural investment environment in Shaanxi Province,and based on this,make recommendations for improvement of agricultural investment environment in Shaanxi.

  11. Investment and investment finance in Europe

    Kolev, Atanas; Tanayama, Tanja; Wagenvoort, Rien


    Combining in-house research and work by leading academics, this report assesses how the crisis has impacted investment across the non-financial sector, in small and medium-sized enterprises (SMEs), in infrastructure, and in R&D and innovation. It explains why and where investment has declined, looking at the impact of structural imbalances, policy uncertainty, new capital requirements for banks and the fragmentation of Europe's financial markets. In terms of policy options, it warns against p...

  12. Agreement between parents and children's report of self-rating scale of systemic family dynamics in China%系统家庭动力学自评问卷亲子报告的一致性

    陈一心; 李沙沙; 陈建平; 陈图农; 詹明心


    Objective To explore agreement between parent-child report of self-rating scale of systemic family dynamics (SSFD),as well as factors that may influence the agreement.Methods SSFD was used to investigate the agreement between parent and child reports on family dynamics in a sample of 639 Chinese children aged 10 to 18 years from Mainland China,and possible influence factors.Results The results showed that there was significant difference between parent-child report of SSFD.The parents had significant lower score than their children at atmosphere,individuation and disease conception and had higher score at system logic (all P<0.01).But the two still had significant positive correlation (correlations ranging from 0.15 to 0.38),indicating a low to moderate agreement between them(r=-0.15-0.38,all P<0.01).The age factor was related to parent-children agreement on SSFD.Parent-child agreement was highest for family atmosphere,followed by individuation,system logic and disease conception.The age factor was related to parent-child agreement on SSFD.Conclusions Both parents' and children's reports of SSFD can be used to assess family dynamics,however,attention should be payed to the affection of parent-child report's difference and age factor to the results.%目的 探索系统家庭动力学自评问卷亲子报告的一致性及其影响因素.方法 应用系统家庭动力学自评问卷(self-rating scale of systemic family dynamics,SSFD)研究了639例10~18岁正常儿童及其父母对家庭动力学评价的一致性,以及可能的影响因素.结果 父母与子女对SSFD四个维度的评分差异有统计学意义,父母对家庭气氛、个性化和疾病观念三个维度的评分低于子女的评分(均P<0.01),而父母对系统逻辑的评分高于子女的评分(P<0.01);父母与子女对SSFD的报告呈正相关性,但一致性程度为中等偏下水平(r=0.15~0.38,均P<0.01).一致性水平由高到低分别为家庭气氛、个性化、

  13. Nuclear cooperation agreements

    Nuclear cooperation agreements are reviewed in tabular form, especially agreements with developing countries. The reporting countries are the USA, the Federal Republic of Germany, Canada, Australia, Japan, and France. A separate EURATOM list is annexed

  14. 75 FR 26742 - Investing in Innovation Fund


    .../2010 (75 FR 5/12/2010 5/19/2010 7/12/2010 7/19/2010 in Innovation Fund (Scale-up, 12072). Validation... Investing in Innovation Fund Catalog of Federal Domestic Assistance (CFDA) Numbers: 84.396A (Scale-up grants), 84.396B (Validation grants), and 84.396C (Development grants). AGENCY: Office of Innovation...

  15. Investment to the Rescue

    Vasily Astrov; Rumen Dobrinsky; Vladimir Gligorov; Doris Hanzl-Weiss; Peter Havlik; Mario Holzner; Gabor Hunya; Michael Landesmann; Sebastian Leitner; Olga Pindyuk; Leon Podkaminer; Sandor Richter; Hermine Vidovic


    The Vienna Institute for International Economic Studies (wiiw) expects GDP in Central, East and Southeast Europe (CESEE) to pick up speed and grow on average by 2-3% over the forecast period 2014-2016 a major driving force rooted in an upward reversal of public and private investment. The question remains, however, whether investment-led growth in the CESEE countries is merely a statistical base effect of a few replacement investments or an indication of a profound paradigmatic shift. Increas...

  16. Migration, trade and investment

    Ben Dolman


    By lowering the cost of trade between the country of residence and the country of birth, migrants appear to reduce trade with other countries, so that the overall effect on aggregate trade is small. The effects of migrants on foreign direct investment appear to be different. Bilateral investment patterns show that migrants increase investment between their country of residence and country of birth, but there is no strong evidence that this is accompanied by a reduction of the stock of investm...

  17. Investment and Institutions

    Yishay Yafeh; Kenichi Ueda; Stijn Claessens


    We study how financial systems and institutional environments affect investment efficiency using a sample of some 300,000 firm-years from 48 countries. Based on a canonical investment model, we identify two possible channels by which institutional environments may affect investment: firm-level financial frictions and the macro-level required rate of return. We find that a good institutional environment, in particular strong corporate governance, reduces financial frictions and lowers the requ...

  18. Trade versus Investment Liberalization

    James R. Markusen


    Despite several theoretical contributions and considerable informal empirical evidence" to the contrary, a notion that trade and investment are substitutes persists in trade policy" analysis. This paper considers the liberalization of commodity trade versus liberalization" allowing direct investment versus the two together. For a relatively skilled-labor-scarce" economy, I show that trade and investment liberalization are quite different together are in a sense complements. The intuition may ...

  19. Merchant Transmission Investment

    Joskow, Paul L.; Tirole, Jean


    We examine the performance attributes of a merchant transmission investment framework that relies on ?market driven? transmission investment to provide the infrastructure to support competitive wholesale markets for electricity. Under a stringent set of assumptions, the merchant investment model appears to solve the natural monopoly problem and the associated need for regulating transmission companies traditionally associated with electric transmission networks. We expand the model to inc...

  20. Sustainable Investment. Literature Overview

    Weda, J.; Kerste, M.; Rosenboom, N.


    Corporate Social Responsibility (CSR), or sustainability at the company level, entails incorporating ecological (environmental stakeholders) and social aspects (stakeholders other than shareholders and environmental stakeholders) when doing business. Socially Responsible Investment (SRI) concerns sustainability at the investment, fund or portfolio level and involves screening the sustainability of companies before investing in them. This report highlights leading literature and empirical findings on 'sustainable investment', amongst others addressing the economic rationale for CSR and SRI. This report is part of a set of SEO-reports on finance and sustainability. The other reports deal with: Financing the Transition to Sustainable Energy; Carbon Trading; Innovations in financing environmental and social sustainability.

  1. Shareholders' agreements in Denmark

    Werlauff, Erik


    The article warns that with effect from 1 March 2010, the new Danish Companies Act (on public and private limited companies) has seriously weakened the effect of shareholders’ agreements which have been entered into on Danish companies. These agreements (in the act’s new terminology: “owners......’ agreements”) cannot bind the company within the sense of company law under the new state of law, and voting rights agreements, agreements on right of pre-emption etc. will therefore only apply at the level of contract law between the parties to the agreement. This article for European Business Law Review...... analyses the consequences of this. Rights and duties in the owners’ agreements must now be reiterated to the greatest possible extent in the company’s articles of association so that the precepts become binding on the company and its management. Whether the parties to the owners’ agreement can be required...

  2. Accountable for Billions, School Boards Break into the Investment Big Leagues.

    Rist, Marilee C.


    School budget dollars demand conscientious management and prudent investment, where permitted by law, in U.S. treasury bills, certificates of deposit, and repurchase agreements. Insets outline investment instruments and provide a money management primer and a chart of state-by-state investment rules. (MLH)




    Full Text Available I chose this topic because my goal was to capture in detail all aspects of the evolution of investment funds under the influence of factors leading to globalization of the banking financial market. Main motivation was that I proposed to present in an original manner the concept of investment in mutual funds by the thoroughness of the following points: the different types of investment funds from Romania, the advantages, the risks and the specific costs of the investment in mutual funds and the effects of the financial crisis on the industry of the investment funds on the national level. The financial crisis and the risk of infecting the global economy affected the taste of risk of the investors and their request for the investment fund, determining the orientation of the investors to the funds with a lower risk – the diversified funds, the funds of bonds and the monetary funds. I considered important the theoretical approach of the concept of investments in investment funds because they are a barometer of the macro economical stability, in case the economical increase is positive on the macro economical level the investments in investments funds are increasing too. In Romania the market of the mutual funds is at an incipient level, but with potential and perspectives of development. Due to the bankruptcy of FNI in the beginning of the years 2000 and due to the absence of a clear legislation regarding the calculation of the unitary value of the net asset and the control of the activity developed by the investment funds, the development of the industry of the investment funds had to fight against the crisis of credibility generated by these events. The convergence of the Romanian economy to the European standards will attract also a modification of the structure of the financial investments of the individuals, by an increase of the investments in funds. In the world the investment funds are preferred by the investors for their advantages

  4. Considerations in Duplex Investment.

    Wright, Arthur; Goen, Tom

    Problems of duplex investment are noted in the introduction to this booklet designed to provide a technique by which the investment decision can be approached, develop estimates of typical costs and returns under differing conditions, and encourage investors to analyze objectives and conditions before the decision to buy or build is made. A…

  5. Socially Responsible Investing

    Parisi, Cristiana; Stang, Andreas

    This paper analyzes the Scandinavian market for Socially Responsible Investing (SRI) mutual funds in order to determine the returns from discriminatory investment decision compared to the return from conventional portfolios. The analysis is conducted on 642 Scandinavian equity mutual funds. The...

  6. Investment Climate in Africa

    Bridgman, David; Adamali, Aref


    The World Bank Group has been working on investment climate reform in Sub-Saharan Africa for nearly a decade, a period characterized by dramatic economic growth on the continent. Establishing links between such reform interventions and economic growth, however, is a complex problem. Although this note finds some connection between investment climate reform and economic growth, establishing ...

  7. Investing in the Future


    THIS month the pretty coastal city of Xiamen is buzzing with African visitors and while they will be taking in the tourist attractions in their spare time,the focus of the visit is the High-Level Symposium on China-Africa Investment Cooperation,held on the sidelines of China International Fair for Investment and Trade (CIFIT).

  8. Indicators of responsible investing

    Scholtens, Bert


    Responsible investment has witnessed significant changes in the past decade. It is estimated that about one fifth of assets under management in the US and about half of all assets under management in the EU are done on the basis of one of the seven responsible investment strategies. This paper discu

  9. Inviting Foreign Investment



    @@ Multinational companies are expecting a more receptive environment for their investments in China,especially if those investments go to emerging industries,help with development efforts in central and west China,or facilitate reorganization and restructuring of Chinese enterprises.

  10. Evaluating the agreement between measurements and models of net ecosystem exchange at different times and time scales using wavelet coherence: an example using data from the North American Carbon Program Site-Level Interim Synthesis

    P. C. Stoy


    Full Text Available Earth system processes exhibit complex patterns across time, as do the models that seek to replicate these processes. Model output may or may not be significantly related to observations at different times and on different frequencies. Conventional model diagnostics provide an aggregate view of model-data agreement, but usually do not identify the time and frequency patterns of model misfit, leaving unclear the steps required to improve model response to environmental drivers that vary on characteristic frequencies. Wavelet coherence can quantify the times and frequencies at which models and measurements are significantly different. We applied wavelet coherence to interpret the predictions of twenty ecosystem models from the North American Carbon Program (NACP Site-Level Interim Synthesis when confronted with eddy covariance-measured net ecosystem exchange (NEE from ten ecosystems with multiple years of available data. Models were grouped into classes with similar approaches for incorporating phenology, the calculation of NEE, and the inclusion of foliar nitrogen (N. Models with prescribed, rather than prognostic, phenology often fit NEE observations better on annual to interannual time scales in grassland, wetland and agricultural ecosystems. Models that calculate NEE as net primary productivity (NPP minus heterotrophic respiration (HR rather than gross ecosystem productivity (GPP minus ecosystem respiration (ER fit better on annual time scales in grassland and wetland ecosystems, but models that calculate NEE as GPP – ER were superior on monthly to seasonal time scales in two coniferous forests. Models that incorporated foliar nitrogen (N data were successful at capturing NEE variability on interannual (multiple year time scales at Howland Forest, Maine. Combined with previous findings, our results suggest that the mechanisms driving daily and annual NEE variability tend to be correctly simulated, but the magnitude of these fluxes is often

  11. Misinterpretations in agreement and agreement attraction.

    Patson, Nikole D; Husband, E Matthew


    It has been well established that subject-verb number agreement can be disrupted by local noun phrases that differ in number from the subject head noun phrase. In sentence production, mismatches in the grammatical number of the head and local noun phrases lead to agreement errors on the verb as in: the key to the cabinets are. Similarly, although ungrammaticality typically causes disruption in measures of sentence comprehension, the disruption is reduced when the local noun phrase has a plural feature. Using a forced-choice comprehension question method, we report two experiments that provide evidence that comprehenders were likely to misinterpret the number information on the head noun phrase when morphosyntactic number markings on the local noun phrase and verb did not match the head. These results are consistent with a growing body of research that suggests that comprehenders often arrive at a final interpretation of a sentence that is not faithful to the linguistic input. PMID:25624171

  12. Investment Lending as a Method Of Investment Projects Financing

    Svitlana Urvantseva


    The article deals with the genesis consideration of "investment loan" definition. The author provides comparative characteristics of the main forms of investment projects financing involving credit institution. A generalized definition of the project financing and investment lending essence are suggested.

  13. Crowding - in Effect of Public Investment on Private Investment

    Toshiya Hatano


    This study investigates the effects of public investment on private investment based on Japanese empirical data. Since public capital is accumulated in tandem with the accumulation of private capital in the long-run from a historical perspective, it is quite natural that there is a positive relationship between private investment and public investment. However, some previous studies have provided evidence for the crowding-in effect of public investment on private investment while other studie...

  14. The Trans-Pacific Partnership Agreement and health: few gains, some losses, many risks

    Labonté, Ronald; Schram, Ashley; Ruckert, Arne


    Background In early October 2015, 12 nations signed the Trans-Pacific Partnership Agreement (TPPA), promoted as a model ‘21st century’ trade and investment agreement that other countries would eventually join. There are growing concerns amongst the public health community about the potential health implications of such WTO+ trade and investment agreements, but little existing knowledge on their potential health impacts. Methods and results We conducted a health impact review which allows for ...

  15. The Trans-Pacific Partnership Agreement: Trading away our health?

    Ruckert, Arne; Schram, Ashley; Labonté, Ronald


    There is long-standing interest by the public health community in the potential implications of trade and investment agreements for public health. Our commentary highlights the main pathways by which the Trans-Pacific Partnerships (TPP), a comprehensive trade and investment agreement currently under negotiation, might undermine population health (based on analysis of and commentary about leaked chapters of the TPP), and calls for a more transparent and health-sensitive TPP negotiation process. We argue that use of comprehensive health impact assessments could be helpful in identifying how the potentially serious health consequences of the TPP and similar future international trade and investment agreements can be avoided, minimized or mitigated. PMID:26285198

  16. Knowledge Enclosures, Forced Specializations and Investment Crisis

    Filippo Belloc


    Full Text Available Like land before the industrial revolution, in the present global economy much knowledge is being enclosed in private hands. In this paper we argue that these enclosures have become a major factor in specialization among firms and among countries: both are forced to specialize in the fields that are not restricted by the enclosures of the others. We use data on 26 OECD countries over the 1978-2006 period. We estimate the effect of patents endowments of countries on their investment specialization across sectors and show that knowledge enclosures involve self-reinforcing innovation patterns. Moreover, we perform a structural change analysis and find that the TRIPs agreement has significantly strengthened the relationship between countries' patents specialization and investment specialization. We conclude by suggesting that stronger international patent protection may restrict global investment opportunities, and this may be one of the factors contributing to the present crisis.

  17. Energy investments and employment

    A study was conducted to assess the effect that different energy options would have on provincial and regional employment prospects in British Columbia. Current and future economic and employment patterns were examined to develop a more detailed understanding of the skills, age, gender, location, and other characteristics of British Columbia workers. Over 40 previous studies examining the energy/employment relationship were also reviewed. Based on this review and an analysis of the province's economic and labor conditions, the following conclusions are drawn. Investment in non-energy sectors offers better prospects for reducing unemployment than investment in the energy sector, whether for new supply or improving efficiency. Investments in the energy sector provide fewer jobs than investments in most other sectors of the economy. Among the available electricity supply options, large hydroelectric projects tend to produce the fewest jobs per investment dollar. Smaller thermal projects such as wood residue plants produce the most jobs. If and when more energy is needed in British Columbia, the most cost-effective combination of energy supply and efficiency options will also create the most jobs. Compared to traditional energy supply options, investments in energy efficiency would create about twice as many total jobs, create jobs that better match the skills of the province's unemployed and its population distribution, and create jobs that last longer on the average. Construction-related measures such as improved insulation tend to produce more jobs per investment dollar than the substitution of more energy-efficient equipment. 69 refs., 9 tabs

  18. Petroleum investment conditions in Peru

    This report focuses on the current petroleum investment conditions in Peru, and Peru's hydrocarbon potential. Investment conditions are examined, and political risk, internal security, the economic environment, and the legal framework for investment are considered. (UK)

  19. Financing petroleum agreements

    This chapter describes the typical type of financing agreements which are currently used to finance North Sea petroleum projects whether they are in the cause of development or have been developed and are producing. It deals with the agreements which are entered into to finance borrowings for petroleum projects on a non-resource or limited resource basis. (UK)

  20. Investment Evaluation Difficulties

    Bogdan Cosmin Gomoi


    Full Text Available The financial criteria used for evaluation of the enterprise are not numerous; however, they are causing heated discussion on whether using a criterion at the expense of another. The most utilized financial criteria used in the ranking of investment alternatives are: the net present value criterion, the internal rate of return criterion, the payback period limit criterion and last, but not least, the profitability index criterion. These criteria have in mind, in the first place: \tinvestments impact on enterprise profitableness and results, by recording the future positive cash-flow \tinvestments influence on the balance of an enterprise, traced through the evolution, on one side of the working capital , on the other hand, the size of necessary working capital \tincidence of the investment project on enterprise risk level Therefore, to ensure the best possible decision making, investors must choose of using, and why not, even construction of relevant indicators regarding the opportunity of an investment decision in one alternative or another. It is advisable to take into account a number of principles, which are nothing more than to highlight various aspects of technical analysis of investment projects. As a result, it is preferable not to neglect the value of money in time problem, solved by using dynamic indicators of investment; investment project analysis with reference the binomial risk - profitableness, ensuring that profitableness of an investment is directly proportional to the risk category in which is framed; the basis for the investment decision to materialize with the help of marginal cash flow analysis and, certainly not with the help of paper profits; taking into consideration the fiscal policy of the company; elimination of the inflationary phenomenon in the decision process; targeting of low risk investment projects, because this risk adds to the whole risk of the enterprise etc.

  1. The Homomorphic Key Agreement


    There are various challenges that are faced in group communication, so it is necessary to ensure session key. Key agreement is the fundamental cryptographic primitive for establishing a secure communication. It is a process of computing a shared secret contributed by two or more entities such that no single node can predetermine the resulting value. An authenticated key agreement is attained by combining the key agreement protocol with digital signatures. After a brief introduction to existing key agreement in group communication, Making use of the additive-multiplicative homomorphism in the integer ring defined by Sander and Tschudin: A new protocols, called the homomorphism key agreement, was designed, which can be self-contributory, robust, scalable and applicable in group communication.

  2. Investment in the Future



    As we enter the end of the first economic quarter of 2004, statistics are indicating that by the end the year direct foreign investment will hit an all time high. However, as is often the case, economy and trade is not a one-way-street.This is why this month we take a closer look at Chinese investments abroad.While the footprints of Chinese investment can be discovered without greatdifficulty in America and Europe, CIB this month explores a similar trend emerging in countries such as Thailand, Bangladesh and Africa.

  3. The prudent investment process.

    Dixon, M


    Are you a CFO, CEO or treasure of your organization? Are you a member of the board of directors or investment or pension committees? If you answered "yes" to these questions, you are likely to be considered a fiduciary of investment assets. This position carries with it prestige, responsibility, and potential personal liability should something go wrong. Of course, liability will most likely occur only if a failure has occurred in carrying out fiduciary responsibilities. But what are those responsibilities? And what is the most appropriate way to manage investment decisions? PMID:10165605

  4. Foreign Direct Investment

    Dr. Roshankumar M. Bhigania


    This paper argues that the liberalisation of foregin direct investment (FDI) has made labour costs more important to domestic investment and long-run labour demand. It provides evidence from British and German data that is consistent with this view. First, high unit labour costs increase FDI outflows and lower FDI inflows. Second, the effect of unit labour costs on domestic manufacturing investment was more negative in the high-FDI 1980s than in the low-FDI 1970s, and this change was concentr...

  5. The strong building: a case study in direct investment

    Walt A. Nelson


    Purpose –The purpose of this case study is to examine direct investment in commercial real estate from the perspective of the individual. While most research is dominated by studies concerning direct investment by institutions (REITs, pension funds, etc.), the bulk of direct investment in commercial property is still conducted by individuals. Design/methodology/approach -The paper presents accounting and financial data from the original purchase, management and disposal of a small-scale offic...

  6. South America: Investment target of the world



    The paper discusses investment in the oil and gas industries of South America. For Venezuela, first-round profit sharing, marginal field agreements, and drilling and production activities are described. Exploration, resource development, and production are also described for Argentina, Colombia, Brazil, Ecuador, Trinidad and Tobago, Peru, Bolivia, Chile, Uruguay, and the Falkland Islands. Political problems in Ecuador, licensing in Trinidad and Tobago, and the privatization of Petroperu are also mentioned.

  7. Advocating investments in information technology

    Information and communication systems can improve the timeliness and quality of decisions. These benefits are strategically important to the utility industry in an era of increasing competition. Because these systems often do not reduce labor cost, however, they can be difficult to evaluate. This report presents a new process for reaching consensus of the value of capital investment in information and communication systems. The results of this project is A Strategic Advocacy Process (ASAP), a methodology that can be used to evaluate investments in information technology. ASAP uses belief graphs to produce a living business case showing facts, assumptions, goals, and metrics for measuring progress toward those goals; shows how to use option pricing theory to quantify the value of managerial flexibility; ASAP uses an organizational impact assessment tool to identify the potential impact of new information systems and how to realize the benefits of managerial flexibility. The ASAP methodology addresses the critical problem of correctly valuing information and communication systems. The methodology offers a way to account for the ''intangible'' value of these systems by recognizing the managerial flexibility these systems can provide in addressing risks and uncovering new business opportunities. Metrics for measuring progress toward new goals can be defined, and plans for achieving the goals can be made. As a result, agreement can be reached on the uses, value, and priority of projects based on a metric other than on labor replacement savings

  8. Innovation investment area: Technology summary

    The mission of Environmental Management's (EM) Office of Technology Development (OTD) Innovation Investment Area is to identify and provide development support for two types of technologies that are developed to characterize, treat and dispose of DOE waste, and to remediate contaminated sites. They are: technologies that show promise to address specific EM needs, but require proof-of-principle experimentation; and (2) already proven technologies in other fields that require critical path experimentation to demonstrate feasibility for adaptation to specific EM needs. The underlying strategy is to ensure that private industry, other Federal Agencies, universities, and DOE National Laboratories are major participants in developing and deploying new and emerging technologies. To this end, about 125 different new and emerging technologies are being developed through Innovation Investment Area's (IIA) two program elements: RDDT ampersand E New Initiatives (RD01) and Interagency Agreements (RD02). Both of these activities are intended to foster research and development partnerships so as to introduce innovative technologies into other OTD program elements for expedited evaluation

  9. Innovation investment area: Technology summary


    The mission of Environmental Management`s (EM) Office of Technology Development (OTD) Innovation Investment Area is to identify and provide development support for two types of technologies that are developed to characterize, treat and dispose of DOE waste, and to remediate contaminated sites. They are: technologies that show promise to address specific EM needs, but require proof-of-principle experimentation; and (2) already proven technologies in other fields that require critical path experimentation to demonstrate feasibility for adaptation to specific EM needs. The underlying strategy is to ensure that private industry, other Federal Agencies, universities, and DOE National Laboratories are major participants in developing and deploying new and emerging technologies. To this end, about 125 different new and emerging technologies are being developed through Innovation Investment Area`s (IIA) two program elements: RDDT&E New Initiatives (RD01) and Interagency Agreements (RD02). Both of these activities are intended to foster research and development partnerships so as to introduce innovative technologies into other OTD program elements for expedited evaluation.

  10. China Welcomes Global Investment


    China is making an effort to building a fair market to attract overseas investment,China’s vice-premier told the gathering of CEOs in Beijing, adding that the meeting with its influence,will promote global business cooperation.

  11. Immigration Through Investment

    Goldstein, Richard S.


    To qualify as an investor exempt from the labor certification requirement, the applicant must essentially establish, by documentary evidence, that he has made an investment or outlay of capital, totaling at least $40,000. (NQ)

  12. Sustainable investment: Literature overview

    J. Weda; M. Kerste; N. Rosenboom


    Corporate Social Responsibility (CSR), or sustainability at the company level, entails incorporating ecological (environmental stakeholders) and social aspects (stakeholders other than shareholders and environmental stakeholders) when doing business. Socially Responsible Investment (SRI) concerns su

  13. Chinese Investment in Italy


    At the 12th China International Fair for Investment and Trade (CIFIT) held on September 8-11 in Xiamen, Fujian Province, government officials and entrepreneurs from all over the world canvassed Chinese entrepreneurs and investors to invest in their countries. Foreign countries and regions rented 16,000 square meters of exhibition space, an increase of more than 50 percent from last year. Among the 74 participating countries and regions, more than 50 held seminars about their invest- ment environments. Besides the Caribbean countries and underdeveloped African nations that are actively attracting investment, developed countries such as the Untied States, Germany, France, Italy and Sweden also showed extraordinary enthusiasm in trying to win over Chinese investors. Beijing Review interviewed Marinella Loddo, Director of the Industrial Cooperation Division of the Italian Institute for Foreign Trade which is also known as the Italian Trade Commission (ICE).

  14. Indirect ICT Investment.

    Beretti, P-A.; Cette, G.


    Numerous economic studies have highlighted that ICT investment expenditure appears to be greater in the field of services, and above all in certain activities such as financial services and wholesale trade, than in industry. This analysis examines whether the investment data compiled by national accountants underestimate productive ICT expenditure, and whether this is more pronounced in the case of industry than for services. For that purpose, we propose an assessment of the size of ICT input...

  15. Lithuania : Investment Climate Assessment

    World Bank, (WB)


    The World Bank undertook an investment climate assessment in Lithuania in 2004 as part of its efforts to support member countries through in-depth analysis of major microeconomic constraints in their business environments. Lithuania has made serious efforts in recent years to improve its investment climate. This report has attempted to capture as much as possible the achievements of those efforts as well as the shortcomings that remain. The general picture in 2004 was of impressively rapid pr...

  16. Investing in the Future


    THIS month the pretty coastal city of Xiamen is buzzing with African visitors and while they will be taking in the tourist attractions in their spare time,the focus of the visit is the High-Level Symposium on China-Africa Investment Cooperation, held on the sidelines of China International Fair for Investment and Trade(CIFIT). Chinese government policymakers and business leaders will be on hand at the

  17. Investing in Conflict Management



    Achieving peace and building the institutions that will make it last require much time and effort on the part of adversaries. While making this effort, the likelihood of peace is uncertain, and preparations for conflict are ongoing. Using a model that takes such considerations into account, adversaries divide their resources between “guns,â€â€œbutter,†and investments in conflict management. Even when all adversaries undertake sizable investments in conflict management, peace is uncertain....

  18. Investments of Uncertain Cost

    Robert S. Pindyck


    I study irreversible investment decisions when projects take time to complete, and are subject to two types of uncertainty over the cost of completion. The first is technical uncertainty, i.e., uncertainty over the amount of time, effort, and materials that will ultimately be required to complete the project, and that is only resolved as the investment proceeds. The second is input cost uncertainty, i.e., uncertainty over the prices and quantities of labor and materials required, and which is...

  19. Share Prices and Investment

    Michael Andersen; Robert Subbaraman


    In this paper we examine two related propositions: the efficiency of pricing of Australian shares and the influences of share prices on business investment. In line with similar studies overseas, we find that the Australian share market may deviate from efficient pricing over short time horizons but that there is little evidence of inefficiency over longer time horizons. To investigate the influence of share prices on investment decisions we use a simple model of real share prices to identify...

  20. International Fisheries Agreements

    Pintassilgo, Pedro; Kronbak, Lone Grønbæk; Lindroos, Marko


    This paper surveys the application of game theory to the economic analysis of international fisheries agreements. The relevance of this study comes not only from the existence of a vast literature on the topic but especially from the specific features of these agreements. The emphasis of the survey...... is on coalition games, an approach that has become prominent in the fisheries economics literature over the last decade. It is shown that coalition games were first applied to international fisheries agreements in the late 1990s addressing cooperative issues under the framework of characteristic...... formation and stability of international fisheries agreements. A key message that emerges from this literature strand is that self-enforcing cooperative management of internationally shared fish stocks is generally difficult to achieve. Hence, the international legal framework and regulations play a...

  1. The DMT's agreements

    This paper summarizes the numerous collaboration agreements signed by the Department of Mechanics and Technology (DMT) from the Direction of Nuclear Reactors (DRN) of the CEA with foreign research organisms and universities. (J.S.)

  2. Trade Agreements PTI

    Department of Homeland Security — The objective of the Trade Agreements PTI is to advance CBP’s mission by working with internal and external stakeholders to facilitate legitimate trade and address...


    Paul Popovici, József-Attila Forró


    The internet is not merely a means of communication but also an important instrument in operating commercial relations. The agreements concluded electronically have as legal frame the law nr. 365/2002 on electronic commerce. The present article outlines the main discussions generated by this type of agreements: pre-contractual obligation of information, time of conclusion, the relative nullity of contracts concluded by electronic means, the right to unilateral withdrawal of contract, long-dis...

  4. The quid-pro-quo of environmental agreements: Reflections on industrial energy efficiency agreements from five countries

    Helby, Peter


    This workshop paper reflects on the exchange of values between the government side and the business side, which is a core logic of environmental agreements. The reflections refer to case studies of industrial energy efficiency agreements from Denmark, France, Germany, Netherlands and Sweden, originating from the VAIE project (Voluntary Agreements, Implementation and Efficiency). The government bargaining chips discussed are monetary rewards, help to gain competitive advantage, regulatory flexibility and political protection. The business side bargaining chips are emission limits, organisational change, investments, information, submission to control and political pain reduction. The discussion underlines the need for substantial commitments by the government side, as a precondition for achieving effective agreements.

  5. Causality relations between foreign direct investment and portfolio investment volatility

    Gozgor, Giray; Yaman O. Erzurumlu


    Following the liberalization of financial markets, Goldstein and Razin (2006) show that there is an information based trade-off between foreign direct investment and foreign portfolio investment, our paper examines the causality relations between foreign direct investment and volatility of foreign portfolio investment. Utilizing monthly and quarterly data set of Czech Republic, Poland, Russia and Turkey, volatility of portfolio investments, which indicated evidence of ARCH effe...

  6. Facilitating low-carbon investments: Lessons from natural gas

    Neumann, Anne; Neuhoff, Karsten


    Decarbonisation of energy and transport infrastructure requires significant private sector investments. The natural gas industry has demonstrated such large scale private sector infrastructure investment over the last decades, typically using long-term contractual arrangements. Are therefore institutional frameworks necessary that facilitate long-term contracting or provide regulation reassuring about future resource streams associated with low-carbon infrastructure - or do factors idiosyncra...

  7. Solomon Islands : Towards Better Investment in Rural Communities

    World Bank Group


    The aim of Solomon Islands Towards Better Investment in Rural Communities is to assist policymakers, program sponsors and implementers to make informed decisions about the design, financing, governance and overall advantages and disadvantages of programs that invest in small-scale infrastructure and income-generating opportunities for rural communities in the Solomon Islands. Completed in ...

  8. Transparency and International Investment Treaties - Definition and responses (Japanese)

    KOTERA Akira


    The issue of transparency is becoming subject to increasing attention in the area of international investment law, as it has in other areas of international law. But what is transparency? What does it mean in the context of international investment law? Within the sphere of international economic law, the General Agreement on Trade and Services (GATS) was the first to shed light on the issue of transparency, defining it as one of its basic principles. The GATS principle calls for transparency...

  9. Concordância entre escalas de triagem e diagnóstico do desenvolvimento motor no sexto mês de vida Agreement between scales for screening and diagnosis of motor development at 6 months

    Denise Campos


    Full Text Available OBJETIVO: Verificar o grau de concordância entre uma escala de triagem e uma de diagnóstico do desenvolvimento motor de lactentes no sexto mês de vida, estabelecendo o ponto de corte mais apropriado para triagem. MÉTODOS: Estudo seccional, incluindo recém-nascidos a termo, com idade gestacional entre 37 e 41 semanas, assintomáticos, que receberam alta da maternidade 2 dias após o nascimento, residentes na região de Campinas. Foram excluídas síndromes genéticas, malformações, infecções congênitas, internações em unidade de terapia intensiva e baixo peso ao nascimento. Os instrumentos de avaliação foram: Alberta Infant Motor Scale (AIMS e Bayley Scales of Infant Development II (BSID-II. Para a AIMS, foram utilizados dois pontos de corte, percentil 5 ou 10 e, para as BSID-II, foi utilizada a classificação dos lactentes na escala motora conforme a pontuação do index score (IS: desempenho inadequado (IS 85, maior ou igual a menos 1 desvio padrão da média. RESULTADOS: A amostra foi constituída por 43 lactentes. Seis lactentes (14,00% apresentaram desempenho motor inadequado. Considerando a classificação motora das BSID-II e o percentil 5 da AIMS, obteve-se sensibilidade = 100%, especificidade = 78,37%, acurácia = 81,39%, índice kappa = 0,50 e p OBJECTIVE: To ascertain the degree of agreement between a score for screening and another for diagnosis of motor development in 6-month old infants and to define the most appropriate cutoff point for screening. METHODS: A sectional study, enrolling asymptomatic full term newborns with gestational ages from 37 to 41 weeks, who were discharged from the maternity unit 2 days after birth and are resident in the Campinas area. Infants were excluded if they presented genetic syndromes, malformations, congenital infections, intensive care admission or low birth weight. The assessment instruments investigated were the Alberta Infant Motor Scale (AIMS and the Bayley Scales of Infant

  10. International petroleum agreements : Republic of Cuba

    Foreign investment in the oil and gas sector has had a profound impact on the development of crude oil production in Cuba. In 1982, in order to encourage economic development, the Cuban government adopted a form of Production Sharing Contract (PSC) for international petroleum agreements. In 1990, the first PSC was negotiated with a consortium of European companies. This was followed in 1992 through 1994 with companies from Canada, Europe and Latin America. Then in 1995, a more comprehensive foreign investment law was enacted to further encourage foreign investment in Cuba. Onshore and shallow water regions of Cuba were divided into 45 blocks, 19 of which were under licence in 2001. In addition, in 1999 the government of Cuba offered 53 blocks in the deep water zones of the Cuban sector of the Gulf of Mexico to foreign investment, of which 6 are already under licence. Most exploration for oil and gas since 1991 has been carried out by foreign companies. Crude oil production in 1991 totalled 11,000 bopd of heavy oil production from the north coast of Cuba. By 2001, domestic crude oil production increased to more than 50,000 bopd, mostly due to foreign investment in exploration and development. This paper described the model form for Cuban Production Sharing Contracts with reference to parties, rights granted, terms, relinquishments, minimum exploration commitments, discovery of hydrocarbons and recovery of petroleum operation expenses. The paper also discussed gross production, cost recovery for contractors, and sharing of profits with contractors and the state oil company, CubaPetroleo. 1 fig

  11. The impact of South-South trade agreements on FDI

    Cherif, Mondher; Dreger, Christian


    The integration of emerging markets into the global economy is heavily promoted by foreign direct investment (FDI) inflows. Within the factors driving the location of FDI, regional trade agreements (RTAs) become increasingly relevant for emerging markets. We explore the impact of South-South trade agreements on FDI by dynamic panel models. The MENA countries are compared to the better performing regions in Latin America and Southeast Asia. Several striking results emerge from the analysis. Fi...

  12. Essays in Investment Theory

    This thesis analyzes different aspects of the investment decision. In the first chapter, we consider an economy in which different energy sources may produce electricity. The model focuses first on the optimal use of a hydroelectric dam from which water can be extracted and which is supplied with a random water flow. The presence of constraints on a minimal and on a maximal storage capacity makes electricity consumption smoothing possible only when the quantity of water available to the agent lies in a certain range that we determine. In a second stage, we introduce a second energy source with unlimited supply at some exogenous cost. The marginal propensity to produce hydroelectricity is an increasing function of the second technology cost. The availability at a low cost of the alternative source improves thus time diversification. Finally, the optimal electric park is composed of a number of dams that is increasing with the cost of the second technology. Chapter 2 studies the decision of an investor who wants to undertake an irreversible investment when he has the choice between two mutually exclusive projects that present input price and/or output price uncertainty. We prove that the investor decides not to invest in any project when each investment generates the same payoff independently of its size. Therefore, some inaction region appears in which the investor prefers not to invest whereas an immediate investment would have been optimal if no choice had been available: a 'choice value' is thus created. A key feature of this bidimensional degree of uncertainty is thus that the payoff generated by each project is not a sufficient statistic to make a rational investment. In this context, our analysis provides a new motive for waiting to invest: the benefits associated with the dominance of one project over the other. In chapter 3, we study the investment decision problem of a duo-poly with price competition on a market of finite size driven by stochastic taste

  13. Political Idea And Investments Safety

    Vaidotas Matutis


    Full Text Available In this paper we discussing about the potential threats to the investments safety evaluation system, creating the model of the system analysis methods when a new political concept is raised in the country. Traditionally, as we already know that politic and economic are inextricably linked. We can easily assure in it using the historical overview of the political and economic interactions. So the question: how the investment safeties are depending from political environment when a new political concept is raised in the country? Become actual and important. The method assumptions suggested and discussed in this paper are made according to the summaries of public surveys and research results of sociologists, political scientists and psychologists of different countries. These summaries are made analyzing the survey and research results systematically and separately from the variety of their initial objectives. We construct the dimensional frame of references combining the time axes, government forms scale, ideology scale and call they Politological system of axis. It help to us show that if a new political concept is raised in the country, it will be supported and developed by the majority of society members only if its political-ideological essence is possible to show in the chosen politological frame of reference and the point are possible to mark in the area of the most typical structures of the statistical division of the society individuals’ approaches at the set point of time and the deviance of this concept is not forecast in the nearest future. The methods we are discussing provide the specialists with the opportunity to evaluate the possibilities of inside threats to the investments safety still in the political concept raising process and its political-ideological core. To summarize this discussion, we can make once more conclusion as following: the main threat to the investments safety after the new political concept raising is the


    Suzana Baresa; Sinisa Bogdan; Zoran Ivanovic


    Economic life of achieving economic and financial effects of an investment opportunity presents the period in which selected investment option remains economically superior from the other alternative investment opportunity. Time period in which the investment project needs to prove its justification, presents an extremely critical factor in the profitability of the investment project, therefore, special attention must be paid to the assessment of the economic and financial time pe...

  15. International Socially Responsible Investment Funds

    Modestas Plakys


    The study deals with socially responsible investment funds as the type of investment funds universe. European and USA market for socially responsible investment funds is presented. The dynamics of assets under the management and number of these funds in the market are considered. The approaches for socially responsible investments are studied and reasons for increased interest in such investments are named. The main reasons why the global socially responsible funds become more and more popula...

  16. Investment Climate Reform in Ukraine

    Fortune, Peter


    The Ukraine must improve its investment climate at the regional and local level in order to achieve relatively large increases in economic growth. Estimates of cost of its poor investment climate suggest that the regulatory burden on business takes 14% of a manager's time each month. Changes in the investment climate could affect both foreign direct investment and local investment similarly. Because changes in regional leadership could lead to such gains being quickly lost, it is important fo...

  17. Finans/Invest

    Bechmann, Ken L.

    Som det vil være velkendt for de fleste læsere, så er der skiftedag på Finans/Invest. Således var Finans/Invest 8/13 det sidste nummer med Anders Grosen som redaktør, og nærværende nummer er det første med professor Ken L. Bechmann som redaktør. I denne første leder beskriver den nye redaktør lidt...... om hans syn på Finans/Invest og tidsskriftets store betydning for formidling af faglig viden inden for finansiering. Yderligere beskrives nogle af de mindre redaktionelle ændringer, som den nye redaktør har planlagt. Endelig indeholder lederen traditionen tro redaktørens refleksioner over og...

  18. On Imprecise Investment Recommendations

    Piasecki Krzysztof


    Full Text Available The return rate is considered here as a fuzzy probabilistic set. Then the expected return is obtained as a fuzzy subset in the real line. This result is a theoretical foundation for new investment strategies. All considered strategies result of comparison profit fuzzy index and limit value. In this way we obtain an imprecise investment recommendation. Financial equilibrium criteria are a special case of comparison of the profit index and the limit value. The following criteria are generalized here: the Sharpe's Ratio, the Jensen's Alpha and the Treynor's Ratio. Moreover, the safety-first criteria are generalized here for the fuzzy case. The Roy Criterion, the Kataoka Criterion and the Telser Criterion are also generalized. Obtained results show that proposed theory is useful for the investment applications.

  19. Irreversible investments revisited

    Sandal, Leif K.; Steinshamn, Stein I.; Hoff, Ayoe


    A multi-dimensional, non-linear dynamic model in continuous time is presented for the purpose of finding the optimal combination of exploitation and capital investment in optimal renewable resource management. Non-malleability of capital is incorporated in the model through an asymmetric cost...... previous literature, the state variables, namely the physical capital and the biological resource, enter the objective function. Due to the nonlinearities in this model some of the results are in sharp contrast to previous literature.......-function of investment, and investments can be both positive and negative. Exploitation is controlled through the utilisation rate of available capital. A novel feature in this model is that there are costs associated with the available capital whether it is utilised or not. And, in contrast to most of the...

  20. Developing country finance in a post-2020 global climate agreement

    Hannam, Phillip M.; Liao, Zhenliang; Davis, Steven J.; Oppenheimer, Michael


    A central task for negotiators of the post-2020 global climate agreement is to construct a finance regime that supports low-carbon development in developing economies. As power sector investments between developing countries grow, the climate finance regime should incentivize the decarbonization of these major sources of finance by integrating them as a complement to the commitments of developed nations. The emergence of the Asian Infrastructure Investment Bank, South-South Cooperation Fund and other nascent institutions reveal the fissures that exist in rules and norms surrounding international finance in the power sector. Structuring the climate agreement in Paris to credit qualified finance from the developing world could have several advantages, including: (1) encouraging low-carbon cooperation between developing countries; (2) incentivizing emerging investors to prefer low-carbon investments; and (3) enabling more cost-effective attainment of national and global climate objectives. Failure to coordinate on standards now could hinder low-carbon development in the decades to come.

  1. Real estate investment dynamics

    Gruber, Johannes


    This thesis is motivated by the steadily increasing interest in the dynamic relationship between the macro-economy and the real estate sector. One of the main issues in this respect is to study the investment dynamics. Since the bursting of the U.S. housing bubble in 2006 is identified as the point of origin of the so called subprime crises, which led to the collapse of the U.S. financial system, the dynamics of real estate investments is of particular interest. In the first part of my the...

  2. Uranium agreements. Conditions considered fundamental for such agreements: Zambia, a case study

    In order to secure effective development of the uranium resources of foreign lands there is need for the Developed Nations to conclude equitable agreements with host governments, usually Developing Nations of the world. In the case of Developed Nations it is the desire for commodity for sale to secure the much needed foreign exchange. In both cases the need for a mutually profitable and acceptable agreement is necessary the terms depending on market and urgency of each party to secure supplies. Several factors are of major importance like the potential for the required mineral, the political environment especially peace and order inducing substantial foreign investment to explore and eventually exploit the mineral, the legislative framework and fiscal laws consistent for sustained investment. The terms and conditions of an agreement concluded should be such to give confidence, credibility and indeed an equitable standing to contracting parties to enable stable and fruitful development. The features of the Zambian contractual agreements are considered a model worth adopting, as proof of its success has been established

  3. Agreement on African Venture


    Mining giant Rio Tinto and Chinese aluminum company Chalco say they are committed to an iron ore project in Guinea china’s biggest aluminum producer Aluminum Corp. China Ltd.(Chalco) signed a binding agreement with the world’s second largest mining company,Rio Tinto,on July 29 in Beijing.

  4. Contract agreements via logic

    Massimo Bartoletti


    Full Text Available We relate two contract models: one based on event structures and game theory, and the other one based on logic. In particular, we show that the notions of agreement and winning strategies in the game-theoretic model are related to that of provability in the logical model.

  5. Coefficients for Interrater Agreement.

    Zegers, Frits E.


    The degree of agreement between two raters rating several objects for a single characteristic can be expressed through an association coefficient, such as the Pearson product-moment correlation. How to select an appropriate association coefficient, and the desirable properties and uses of a class of such coefficients--the Euclidean…

  6. Marine and coastal agreement

    Showstack, Randy

    Six Central American nations have signed an agreement to improve coastal habitats, including mangrove swamps, beaches, and coral reefs.Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama signed the Convention on Cooperation in the Protection and Sustainable Development of the Marine and Coastal Environment of the Northeast Pacific on 18 February.

  7. Investment Strategy and Efficiency of Investment Activity of European Insurers

    Zhabynets Olga Yo.


    Full Text Available The article studies investment strategy and efficiency of investment activity of European insurance companies. In particular, it analyses the share of investments of insurance companies of Europe in GDP, investment portfolio of European insurers and its structure, contribution of insurance companies – leaders of investment activity – into the European investment portfolio. It studies influence of the financial crisis upon investment strategy of European insurers and analyses efficiency of investment activity of European insurers in risk insurance and life insurance. The article proves that investment business models of insurance companies are capable of resisting crisis phenomena more efficiently than other financial institutions. It marks out that measures of insurance companies that are directed at increase of profitability of investments require from them both significant expenditures on creation of the system of investment risk management and open access to different categories of financial assets and markets, which influences the general risk level, taken upon by an insurance company. The author draws a conclusion that, taking into account recent developments, European insurers should focus on equity and investment risk management, finding new possibilities for their (investments growth and also adaptation of new systems and operations for solution of these important tasks.

  8. Investment Insight Opportunities Ahead


    Over the next five years, China will be shitting its focus to more balanced development and what it sees as quality growth. Its two main strategies are promoting innovation-with the government-backed industrial upgrading-and strengthening the rural economy. This shift will lead to massive investment and fresh, wealth-making opportunities. In the stock

  9. Optimal investment horizons

    Simonsen, I.; Jensen, M. H.; Johansen, A.


    In stochastic finance, one traditionally considers the return as a competitive measure of an asset, i.e., the profit generated by that asset after some fixed time span Δt, say one week or one year. This measures how well (or how bad) the asset performs over that given period of time. It has been established that the distribution of returns exhibits ``fat tails'' indicating that large returns occur more frequently than what is expected from standard Gaussian stochastic processes [1-3]. Instead of estimating this ``fat tail'' distribution of returns, we propose here an alternative approach, which is outlined by addressing the following question: What is the smallest time interval needed for an asset to cross a fixed return level of say 10%? For a particular asset, we refer to this time as the investment horizon and the corresponding distribution as the investment horizon distribution. This latter distribution complements that of returns and provides new and possibly crucial information for portfolio design and risk-management, as well as for pricing of more exotic options. By considering historical financial data, exemplified by the Dow Jones Industrial Average, we obtain a novel set of probability distributions for the investment horizons which can be used to estimate the optimal investment horizon for a stock or a future contract.

  10. Investing in Youth: Brazil

    OECD Publishing, 2014


    The series Investing in Youth builds on the expertise of the Organisation for Economic Cooperation and Development (OECD) on youth employment, social support and skills. It covers both OECD countries and countries in the process of accession to the OECD, as well as some emerging economies. This report provides a detailed diagnosis of the youth…

  11. Investing in Youth: Lithuania

    OECD Publishing, 2016


    The series Investing in Youth builds on the expertise of the Organisation for Economic Cooperation and Development (OECD) on youth employment, social support and skills. It covers both OECD countries and countries in the process of accession to the OECD, as well as some emerging economies. The present report on Lithuania is the fourth of a new…

  12. Investment and uncertainty

    Greasley, David; Madsen, Jakob B.


    A severe collapse of fixed capital formation distinguished the onset of the Great Depression from other investment downturns between the world wars. Using a model estimated for the years 1890-2000, we show that the expected profitability of capital measured by Tobin's q, and the uncertainty surro...... depression: rather, its slump helped to propel the wider collapse...

  13. Foreign Investment Welcome


    BusinessWeek recently published an article reporting that China is becoming hostile to foreign capital and that China's policy on foreign investment will change to reflect that attitude. Yi Xianrong, a researcher at the Institute of Finance and Banking of the Chinese Academy of Social Sciences, explains China's position in an article posted on People's Daily Online.

  14. Gaining an Investment Edge.

    Spitz, William T.


    Recommendations for investing college/university endowment funds focus on identifying structural and skill-based competitive advantages. These include the long institutional time horizon and the ability to endure short-term volatility. Implications for endowment management are applied to selecting an endowment manager and asset allocation. (DB)

  15. Mapping the Potential EU-EAEU Cooperation Agenda: Readmission Agreements, Visa-Free Regime, Labour Migration, Mobility of Pensions, Large-Scale Educational Exchanges, Recognition of Professional Diplomas and Certificates

    Vinokurov, Evgeny; Pereboyev, Vladimir


    There is an ongoing debate about the appropriateness of the official dialogue and deepening of cooperation between the European Union (EU) and the Eurasian Economic Union (EAEU). The current state of debate on the EU side is truly disappointing. As a matter of fact, EU experts are currently debating not how to structure dialogue with the EAEU, but rather whether such a dialogue should exist at all. Nevertheless the authors consider the efforts invested in structuring and mapping a future EU-E...

  16. Investment and sources of investment finance in developing countries

    Görg, Holger; Morrissey, Oliver; Udomkerdmongkol, Manop


    This paper uses annual aggregate data for 36 low or middle income countries covering the period 1995-2001 to test the responsiveness of investment to the sources of finance under (un)favourable regimes for investment. Two sources of private investment finance are considered: private investment and FDI inflows. We use four governance measures (voice and accountability, regulatory quality, political stability and control of corruption) to distinguish between ‘market-friendly' (favourable) and ‘...

  17. Overinvestment, Underinvestment, Efficient Investment Decrease, and Efficient Investment Increase

    Hairong Tang; Yuqing Shen; Yao-Min Chiang


    Using data of Chinese listed companies, we find that the relationship between capital expenditure growth and stock return does not monotonously increase or decrease. Four types of relationships exist between capital expenditure growth and stock returns: overinvestment, underinvestment, efficient investment decrease, and efficient investment increase. The first two types show inefficient investments, whereas the last two types show efficient investments. We further explore how ownership struct...

  18. Green service level agreement

    Iqbal, Ahmed; Alexandra, Klimova; Rondeau, Eric; Andrei, Rybin


    Nowadays, when most businesses are moving forward to sustainability by providing or getting different services from different vendors, Service Level Agreement (SLA) becomes very important for both the business providers/vendors and for users/customers. There are many ways to inform users/customers about various services with the inherent execution functionalities and even nonfunctional/ Quality of Service (QoS) aspects through SLAs. However, these basic SLA actually did not cover eco-efficien...

  19. Designing a successful investment program.

    Karpinski, J P


    Healthcare organizations have various asset pool funds that can be invested to increase nonoperating revenues. In order to maximize the long-term success of investment efforts, healthcare organizations need to develop comprehensive investment management programs. Such programs identify the assets that can be invested, establish the level of risk each asset type can be exposed to, and match long-term and short-term investment opportunities to the appropriate asset pool. Programs can be managed internally or outsourced to investment management firms with objectives and procedures that are compatible with those of the healthcare organizations' investment policies and guidelines. These policies and guidelines must address asset allocation. Oversight committees must be established to monitor investment performance and reallocate assets, as needed, to take advantage of market movements. PMID:10164878

  20. To Save or Savour: A Review of Wine Investment

    Fogarty, James Joseph; Sadler, Rohan


    It has been argued that adding wine to an investment portfolio provides a diversification benefit. There is not, however, agreement on how the return to wine should be estimated. Nor is there agreement on a standard approach to test for a diversification benefit. By considering different approaches to estimating the return to wine and testing for a diversification benefit it is shown that claims wine provides a diversification benefit should be treated with caution.

  1. Payback on our training investment

    A tremendous amount of resources have been invested in training over the past few years. The return on the training investment will be evident over the next several years. The return will be in the form of financial savings to companies and improved performance of personnel. At the Cook Plant, the authors expect the return to outweigh the investment

  2. Thailand : Investment Climate Assessment Update

    World Bank, (WB)


    This report provides an up-to-date assessment of the investment climate of Thailand. As the socio-economic framework in which enterprises operate including infrastructure, policies and regulations improving the investment climate is helpful for productivity and economic growth. The report is based mainly on the results of the second round of the Thailand Productivity and Investment Climate...

  3. Investment opportunities as real options

    Rovčanin, Adnan


    Opportunity (optional) approach to capital investment appraisal represents, completely new theoretical and methodological framework for investment analysis. Compared to traditional, discount cash flow (DCF) model of analysis, the optional approach provides opportunity for valuation and managing flexibility, i.e. possibility of approaching (amending the previous decisions) in compliance with market changes. Risk and uncertainty are inevitably following the capital investment. Therefore, the im...

  4. Investment Appraisal Process

    Akalu, M.M.; Turner, Rodney


    textabstractThis case study examines the capital budgeting practices of two chemical companies. It is found that the companies apply the value management tools to supplement the DCF measures. In addition, the R&D projects are assessed using qualitative methods. Moreover, the study revealed the symptom of a trend shift in the choice of investment appraisal techniques from traditional DCF to the newly crafted value management models.

  5. Investment Projects Analyse Methodology

    Simen Antoneta


    The IFIs analyze methodology of investment projects based on dynamic methods of assessment and financial analysis in which the predominant component is to update the flow of revenues and expenses. IFIs have adopted the method of analysis based on internal rate of return (financial and economic), considered the most appropriate because it allows comparison with the appropriate cost of capital, the reference standard for financial analysis in market economies. The expression of projects efficie...

  6. Real estate investing

    Don T. Johnson


    Purpose –Aims to explain the rationale for producing an issue on the topic of real estate investing and how these articles fit together. Design/methodology/approach - Essay format. Findings - Real estate is probably the largest category of assets for investors and the works in this issue will assist in the decision making processes of real estate investors. Research limitations/implications - Each of these papers covers only a limited topic and more research in the area is needed. Practical i...

  7. Investment Opportunities & Job Information


    Shanghai Vacancies from China Pacific Insurance (Group) Co. Ltd. Senior Investment Manager and Senior Accounting Analyst are needed, full time; annual salary: $50,000-100,000. China Europe International Business School wants professors or people with doctoral degrees to teach Accounting, Finance, Human Resources and Management, Strategic and General Management, Carving out Management, Production and Transportation Management, and Information Management Systems, full time. Salary starts at $1...

  8. Investment Appraisal Process


    This case study examines the capital budgeting practices of two chemical companies. It is found that the companies apply the value management tools to supplement the DCF measures. In addition, the R&D projects are assessed using qualitative methods. Moreover, the study revealed the symptom of a trend shift in the choice of investment appraisal techniques from traditional DCF to the newly crafted value management models.

  9. Interaction Among Construction Investment, Other Investment and GDP in China

    郑思齐; 刘洪玉


    With Granger causality method, this paper examines the causal dynamics among three economic fundamentals: construction investment, other investment and the gross domestic product (GDP). Short-run and long-run interactive effects among these three time series are analyzed from 1981 to 2001. The empirical results show that construction investment has a stronger short-run effect on economic growth than other investment, and economic growth has a long-term effect on both construction and other investments. These findings indicate that construction investment is an important factor influencing short-term economic growth fluctuations, with its growth stimulating economic growth and its slumps leading to downside fluctuations. At the same time, investment growth cannot be sustained without the support of the national economy. These empirical results have important implications for economic policy makers in China.

  10. Investment financing in cooperative firms

    Gaetano Cuomo


    Full Text Available By general agreement, one of the main obstacles to the growth of producer cooperatives is difficult investment financing, due to inadequate Capitalisation levels and the resulting inability to lodge sufficient collateral with lenders. Moreover, worker-owned firms are considered not very reliable because they suffer from problems of moral hazard and insufficient commitment. Unfortunately, the literature on this issue is not extensive and has weaknesses that are highlighted in the paper. By means of its critical analysis, it is possible to provide evidence that the funding difficulties caused by the particular structure of cooperative firms can be effectively tackled by creating an institutional framework within which cooperatives would be offered a wider range of organizational options comparable to those open to traditional enterprises. Finally, it is proved that the willingness of the members to fund the operations of their cooperative with loan capital may not be enough to mobilize external credit. For member financings to persuade potential providers of funds to place trust in a firm, third-party claims must necessarily qualify as senior debt and be repaid before the claims of the partners are settled.

  11. Tax effect of the concession agreement, production sharing agreement and service contract; Analise dos efeitos tributarios dos contratos de concessao, partilha de producao e servicos

    Botelho, Rodrigo Jacobina [Escola de Magistratura do Tribunal de Justica do Estado do Rio de Janeiro (EMERJ), RJ (Brazil); Instituicao de Ensino Superior no Estado do Rio de Janeiro, RJ (Brazil); Escritorio Doria, Jacobina, Rosado e Gondinho Advogados Associados, Rio de Janeiro, RJ (Brazil). Area de Direito Tributario


    The different nature of the E and P agreements recommends an analysis of the tax incidence in order to avoid the increasing of costs due to an inaccurate taxation process. The revenue obtained from Services Agreements must be, under the Brazilian legal system, taxed as the revenues obtained from the Concession Agreements, since those revenues are related to the risks supported, the investments and financial exposure, among others elements and not related to a specific public service provided. (author)


    MOT Anca


    Full Text Available The Transatlantic Trade and Investment Partnership is a project of exceptional importance which opens a new stage in the globalization process. Given its historical significance, this construction causes numerous debates and controversies. This article attempts to draft a few reflections regarding the main elements, dimensions, orientations, the basis values, objectives and the relevant actors (economic, political, formal and informal of this greatest bilateral trade agreement. We will attempt a decrypting, on the basis of press articles, of political discourse, and of different analyses and comments, what are the social and economic effects, what are the consequences on democracy of this market project.

  13. The Controversy over the Free-Trade Agreement TTIP

    Philipp M. Richter; Greta F. Schäffer


    A short name is causing a lasting debate: TTIP [ti:t ]. Ever since the beginning of the negotiations in the summer of 2013, media coverage of the planned Transatlantic Trade and Investment Partnership between the EU and the US has contributed to a critical debate on the topic. In doing so, difficulties have arisen in differentiating factually substantiated arguments from one-sided statements. TTIP is a planned agreement on free trade and investment between the US and the EU, whose details are...

  14. Investor perception towards small medium enterprises investment in Africa

    Aboah, J.; White, B.; Meuwissen, M.P.M.


    This study seeks to examine investor perceptions towards investing in SMEs in Africa. Data was collected via an online survey sent to investors on the Venture Capital for Africa (VC4Africa) platform. The Kendall’s coefficient of concordance was used to determine the degree of agreement among investo

  15. Corporate human rights obligations and international investment law

    Jernej Letnar Cernic


    Full Text Available Globalisation has blurred the artificial borders that exist betweeneconomies and societies around the world. The activities of corporations in this globalised environment have often served as the catalyst for human rights violations; due to the lack of institutional protection, some corporations are able to exploit regulatory lacunae and the lack of human rights protection. It appears that the paradigmatic change demands an equal emphasis of rights and obligations of corporations. This article discusses and critically analyses corporate human rights obligations and the lack thereof under stabilization clauses in foreign investment contracts. First, stabilization clauses in foreign investment agreements are examined in relation to corporate obligations and responsibility for fundamental human rights. In doing so the substantive and procedural dimension of stabilization clauses is analysed. Second, using the concrete examples of the Mineral Development Agreement between Mittal Steel and the Government of Liberia Mittal Steel Agreement and of the Baku‐Tblisi‐Ceyhan Pipeline Project as case studies, this article considers an application of stabilization clauses in foreign investment contracts in relation to the fundamental human rights obligation of states and of corporations. Third, a proposal for reform in the form of a fundamental human rights clause is introduced. To be clear, the argument here is that the fundamental human rights obligations of investors, particularly of corporations, must be included in foreign investment agreements.

  16. Suzhou Industrial Park Attracts Investments From Central SOEs


    Suzhou Industrial Park (SIP) held a press conference on January 5 in Beijing where it signed cooperation agreements on seven projects, including the branch office building of CITIC Bank and Phase 2 facilities of Suzhou Kaifa Technology, a subsidiary company of China Electronics Corp. The total investment of the

  17. Crisis will impact investments

    This paper summarizes the content of Capgemini's 10. European Energy Markets Observatory (EEMO) report. The EEMO is an annual report that tracks the progress in establishing an open and competitive electricity and gas market in the 27 European countries, including Norway and Switzerland. This tenth edition is based on 2007 and winter 2007-2008 data sets. A 1 trillion euros infrastructure investment is required to build the plants, electrical lines and gas pipelines needed in Europe over the next 25 years. Although today's credit crunch could severely hurt the investment cycle, analysts also anticipate a difficult period for the European energy markets once the recession is over. The report said that Europe has yet to solve the related issues of responding to its energy demand, while curbing its carbon dioxide (CO2) emissions. In 2007, even at a slower pace than previous years, analysts said European electricity consumption still increased by 0.9% and CO2 emissions stabilized, instead of decreasing. Despite the mild weather, the electricity security of supply deteriorated, analysts said. The Union for the Coordination of Transmission of Electricity (UCTE) real margin - which takes into account non-usable and unavailable generation capacities - dropped from 7.6% in 2006 to 5.3% in 2007. Analysts said without a significant and vigorous investment program in electricity and gas infrastructures, Europe's energy supply security will be threatened. Since the low point in 2005, utilities started to invest again, but have made energy mix choices that are not moving toward a reduction in CO2 emissions as the majority (58%) of the planned generation capacities will be fossil-fueled. In 2007, investments in renewable capacities grew fast, wind being the industry's preference, with an addition of 8.3 gigawatt (GW) renewables in Europe. However, analysts said this type of 'non-scheduable' source is not always available during peak hours. This partially explains the security of

  18. Optimal diversity in investments with recombinant innovation

    Bergh, van den, J.C.J.M.; Zeppini-Rossi, Paolo


    The notion of dynamic, endogenous diversity and its role in theories of investment and technological innovation is addressed. We develop a formal model of an innovation arising from the combination of two existing modules with the objective to optimize the net benefits of diversity. The model takes into account increasing returns to scale and the effect of different dimensions of diversity on the probability of emergence of a third option. We obtain analytical solutions describing the dynamic...

  19. Gender Differences in Investment Preferences

    Nizamettin Bayyurt


    Full Text Available The paper attempts to explore how women and men differ in their individual investment preferences. Although there are some studies for the investors in developed countries, the subject has been overlooked in emerging and underdeveloped countries. Therefore, this study is the first empirical study exploring the investment behaviors of women and men by focusing on an emerging country, Turkey. For the purpose to find out how investment preferences of men and women differ towards six investment tools, namely, gold, foreign currency, funds, common stocks, real estates, and time deposits, a discriminant analysis and a logistic regression were exercised. The results revealed that while men investors prefer common stocks and real estate to invest women investors are more risk averse and invest fund, time deposit and gold. There is no significant difference between men and women in foreign currency investment.

  20. Aspects of investment protection in the case of raw material projects; Aspekte des Investitionsschutzes bei Rohstoffprojekten

    Wolkewitz, Mathias [Wintershall Holding GmbH, Kassel (Germany). Bereich Recht, Steuern und Versicherungen; TU Clausthal (Germany). Inst. fuer Energierecht


    Addressing the question of investment protection currently is of particular importance under the tree aspects: (a) Due to the financial crisis and economic crisis, foreign investment in the years 2008 and 2009 have been drastically reduced; (b) There is a growing critique at the system of international investment protection; (c) For the first time, the Articles 206 and 207 of the Treaty of Lisbon of the European Union show a competence for foreign direct investment. These three aspects seem partly contradictory, but have a considerable changing potential in the area of investment protection. The author of the contribution under consideration describes the tools of investment protection as those are used for raw material projects. Subsequently the author picks out investment protection agreements and deals with some aspects that are important for practical applications in business companies. Raw material projects are projects for the exploration and production of oil and gas in foreign states.

  1. World oil and gas investment outlook. IEA Background Paper

    Securing a reliable supply of affordable energy is crucial to the economic health of all countries, members of the International Energy Agency and non-members alike. Ensuring long-term security of energy supply requires continuing large-scale investment in every step of the supply chain. The scale of the challenge is growing as energy needs expand: our most recent World Energy Outlook projects that global primary energy demand will increase by two-thirds over the next three decades. Oil and gas are expected to meet more than 70% of that increase. Energy resources are judged to be adequate, but the amount of investment needed for these resources to be exploited will be significantly larger than in the past. This paper assesses how much capital will be needed to finance the construction of the infrastructure needed to supply oil and gas to global markets, and discusses the obstacles that the oil and gas industry will need to overcome in order to attract this investment. It draws on the results of the World Energy Investment Outlook, a major IEA study published in November 2003. To our knowledge, that study was the first attempt ever made to quantify future global energy-investment needs in a detailed, fuel-by-fuel manner. The record sales notched up by the study demonstrate the importance now being attached to energy-financing issues and growing concern about whether all the investment needed will be forthcoming. The paper begins with a summary of global investment needs in the oil industry. This is followed by an assessment of investment needs and key uncertainties by sector: conventional oil exploration and production, non-conventional oil and oil refining and transportation. A summary of the results of a scenario in which oil investment in the Middle East is restricted is presented. Investment prospects and drivers in the natural gas sector are then analysed. The paper concludes with a discussion of the implications of our analysis for government policy

  2. Providing investment attractiveness of renewal and development of fixed assets in the energy sector

    Evgeniy Anatolyevich Malyshev


    Full Text Available The purpose of research is a comparative analysis of economic mechanisms for the realization of investment projects for new construction and modernization power generation capacity in the energy sector and their effect on private investment. In this connection, planned and actual volumes of generating capacity, particular features of the industry, causing investment attractiveness are discussed. The necessity of using, and a comparison of primary economic mechanisms in order to guarantee the return of investments in the new construction and modernization of power generation capacity is shown. The method of calculating the tariff under the agreement of supply power capacity is analyzed. The study proved that the presence of an effective working mechanism of return on investment is a key element influencing the investment in new construction and modernization of power generation capacity. Also, it is shown that with the end of using agreement of supply power capacity, industry will face a significant reduction in investment. In this connection, it is recommended to speed up the formation of long-term capacity market, which involves the application of new investment incentives in the industry. The research results can be applied by investment banks, and other stakeholders as a methodological apparatus assessing investment and whether to participate in their financing.

  3. The Economics of an Investment in Kaizen

    Visuwan, Danupun


    Kaizen has been widely accepted as a continuous process improvement with the gradualist approach. This paper presents the research carried out to explore the pattern of an investment in Kaizen to enhance overall profit. System dynamics-based simulation has been employed with an optimization technique, a Steepest Ascent approach, to improve experimental variables e.g. the amount of spending on prevention and appraisal activities, the time and the amount to reduce the investment which results in maximum Net Present Value (NPV) of profit. The simulation model in this study is based on a Thai automobile manufacturer as a case study company. The result suggests that the investment in Kaizen should spend on activities to eliminate and detect all defects in the early phase and then reduce economically when the process is under controlled. It can be named as the `Hybrid quality improvement', which was proved in this study that it provides greater overall profit than the Stepwise Kaizen and the constant spending. This study also presents the behavior of quality costs and profit against time scale along the different patterns of the investment in Kaizen.


    Lidija Dedi


    Full Text Available Investment professionals, particularly financial analysts or security analysts evaluate securities and try to determine characteristics of securities and to identify mispriced securities. For that purpose they use different models to estimate the intrinsic value of the common stocks. Traditional valuation models based on the present value of future cash flows are affected by estimated growth rate of the variable used and by the investor’s required rate of return. These models can be used for valuing fixed income securities, such as bonds and preferred stocks. However, in valuing companies with significant growth opportunities they have to expand traditional analysis with option valuation.

  5. Gas trade and investments

    The WOC 9 workshop of the CMG 2000 world gas congress was devoted to gas projects and economics. One round table chaired by G. Bouchard (Gaz de France) and T.H. Thorn (Enron) was devoted to the commercial and financial challenges the gas industry will have to face in the context of inter-region markets and investments. This article summarizes the discussion that took place during this round table: towards a progressive un-partitioning of regional markets, the strategic changes in the European gas market, the LNG industry: new actors and new markets, the gas producers at the crossroads. (J.S.)

  6. Investment in Europe

    The role of the European Investment Bank (EIB) in the financing of oil refining projects in the European Union is discussed. The EIB has done much to support the competitiveness of the energy industries in Europe, secure supply and contribute to conservation of the environment. Its track record is reviewed. How the EIB operates in appraising proposals, providing funding, and figures for funding, are all given. In 1997 the EIB's lending was 26.2 billion ECU. Challenges (such as low profit margins and environmental compliance) facing refining in Europe are also discussed. (UK)

  7. 20 CFR 667.110 - What is the Governor/Secretary Agreement?


    ... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false What is the Governor/Secretary Agreement? 667... ADMINISTRATIVE PROVISIONS UNDER TITLE I OF THE WORKFORCE INVESTMENT ACT Funding § 667.110 What is the Governor/Secretary Agreement? (a) To establish a continuing relationship under the Act, the Governor and...

  8. ESG Integration and the Investment Management Process: Fundamental Investing Reinvented

    van Duuren, Emiel; Plantinga, Auke; Scholtens, Lambertus


    We investigate how conventional asset managers account for environmental, social, and governance (ESG) factors in their investment process. We do so on the basis of an international survey among fund managers. We find that many conventional managers integrate responsible investing in their investment process. Furthermore, we find that ESG information in particular is being used for red flagging and to manage risk. We find that many conventional fund managers have already adopted features of r...

  9. Female Media Use Behavior and Agreement with Publicly Promoted Agenda-Specific Health Messages

    Shu-Yu Lyu


    Full Text Available This study set out to explore the relationship between female media use behavior and agreement with agenda-specific publicly promoted health messages. A random digit dial telephone cross-sectional survey was conducted using a nationally representative sample of female residents aged 25 and over. Respondents’ agreement with health messages was measured by a six-item Health Information Scale (HIS. Data were analyzed using chi-square tests and multiple logistic regression. This survey achieved a response rate of 86% (n = 1074. In this study the longest duration of daily television news watching (OR = 2.32, high self-efficacy (OR = 1.56, and greater attention to medical and health news (OR = 5.41 were all correlates of greater agreement with the selected health messages. Surprisingly, Internet use was not significant in the final model. Many women that public health interventions need to be targeting are not receptive to health information that can be accessed through Internet searches. However, they may be more readily targeted by television campaigns. Agenda-specific public health campaigns aiming to empower women to serve as nodes of information transmission and achieve efficient trickle down through the family unit might do better to invest more heavily in television promotion.

  10. Female media use behavior and agreement with publicly promoted agenda-specific health messages.

    Lyu, Shu-Yu; Chen, Ruey-Yu; Tsai, Liang-Ting; Wang, Shih-Fan Steve; Lo, Feng-En; Chi, Ying-Chen; Morisky, Donald E


    This study set out to explore the relationship between female media use behavior and agreement with agenda-specific publicly promoted health messages. A random digit dial telephone cross-sectional survey was conducted using a nationally representative sample of female residents aged 25 and over. Respondents' agreement with health messages was measured by a six-item Health Information Scale (HIS). Data were analyzed using chi-square tests and multiple logistic regression. This survey achieved a response rate of 86% (n = 1074). In this study the longest duration of daily television news watching (OR = 2.32), high self-efficacy (OR = 1.56), and greater attention to medical and health news (OR = 5.41) were all correlates of greater agreement with the selected health messages. Surprisingly, Internet use was not significant in the final model. Many women that public health interventions need to be targeting are not receptive to health information that can be accessed through Internet searches. However, they may be more readily targeted by television campaigns. Agenda-specific public health campaigns aiming to empower women to serve as nodes of information transmission and achieve efficient trickle down through the family unit might do better to invest more heavily in television promotion. PMID:25473941