WorldWideScience

Sample records for conduit financing arrangements

  1. 76 FR 76895 - Conduit Financing Arrangements

    2011-12-09

    ... TD 8611 (1995-37 IRB 20; 60 FR 40997). On December 22, 2008, the Treasury Department and the IRS published in the Federal Register (73 FR 246) a notice of proposed rulemaking (REG-113462-08) that proposed... Internal Revenue Service 26 CFR Part 1 RIN 1545-BH77 Conduit Financing Arrangements AGENCY:...

  2. 26 CFR 1.7701(l)-1 - Conduit financing arrangements.

    2010-04-01

    ... 26 Internal Revenue 13 2010-04-01 2010-04-01 false Conduit financing arrangements. 1.7701(l)-1 Section 1.7701(l)-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES General Actuarial Valuations § 1.7701(l)-1 Conduit...

  3. 26 CFR 1.881-4 - Recordkeeping requirements concerning conduit financing arrangements.

    2010-04-01

    ... financing arrangements. 1.881-4 Section 1.881-4 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE... requirements concerning conduit financing arrangements. (a) Scope. This section provides rules for the maintenance of records concerning certain financing arrangements to which the provisions of § 1.881-3...

  4. 26 CFR 1.881-3 - Conduit financing arrangements.

    2010-04-01

    ...) Exercise management over, and actively conduct, the day-to-day operations of the intermediate entity. Such... approve any guarantee of a financing transaction or to exercise general supervision and control over the... be adjusted for depreciation or amortization, calculated on a basis that accurately reflects...

  5. Optimization of lamp arrangement in a closed-conduit UV reactor based on a genetic algorithm.

    Sultan, Tipu; Ahmad, Zeshan; Cho, Jinsoo

    2016-01-01

    The choice for the arrangement of the UV lamps in a closed-conduit ultraviolet (CCUV) reactor significantly affects the performance. However, a systematic methodology for the optimal lamp arrangement within the chamber of the CCUV reactor is not well established in the literature. In this research work, we propose a viable systematic methodology for the lamp arrangement based on a genetic algorithm (GA). In addition, we analyze the impacts of the diameter, angle, and symmetry of the lamp arrangement on the reduction equivalent dose (RED). The results are compared based on the simulated RED values and evaluated using the computational fluid dynamics simulations software ANSYS FLUENT. The fluence rate was calculated using commercial software UVCalc3D, and the GA-based lamp arrangement optimization was achieved using MATLAB. The simulation results provide detailed information about the GA-based methodology for the lamp arrangement, the pathogen transport, and the simulated RED values. A significant increase in the RED values was achieved by using the GA-based lamp arrangement methodology. This increase in RED value was highest for the asymmetric lamp arrangement within the chamber of the CCUV reactor. These results demonstrate that the proposed GA-based methodology for symmetric and asymmetric lamp arrangement provides a viable technical solution to the design and optimization of the CCUV reactor. PMID:27191576

  6. Financing arrangements for nuclear power projects in developing countries

    This reference book reviews the main features and problems or difficulties involved in the financing of nuclear power projects with special reference to developing countries. It provides basic information and advice to developing countries interested in nuclear power projects as part of their power sector planning. The book outlines the general characteristics of financing a nuclear power project and presents innovative approaches for power generation financing. It discusses the special conditions and requirements of nuclear power projects and their financing complexities. The focus is on the practical issues that need to be dealt with in order to successfully finance these power projects, as well as the constraints faced by most developing countries. Possible ways and means of dealing with these constraints are presented. 58 refs, figs and tabs

  7. Stock Market Reaction to Debt Financing Arrangements in Russia

    Christophe J. Godlewski; Fungacova, Zuzana; Weill, Laurent

    2011-01-01

    This paper investigates stock market reaction to debt arrangements in Russia. The analysis of the valuation of debt arrangements by stock markets provides information about the use of debt by Russian companies. We apply the event study methodology to check whether debt announcements lead to abnormal returns using a sample of Russian listed companies that issued syndicated loans or bonds between June 2004 and December 2008. We find a negative reaction of stock markets to debt arrangements that...

  8. Summary of a reference book on financing arrangements for nuclear power projects in developing countries

    The IAEA has recently published a reference book entitled Financing Arrangements for Nuclear Power Projects in Developing Countries (Technical Reports Series No. 353). The book reviews comprehensively the main features and problems concerning the financing of such projects in developing countries and presents innovative approaches for power generation financing. It also discusses the special conditions and requirements of nuclear power projects and the complexities of their financing, focusing on the practical issues to be dealt with to achieve successful financing, as well as the constraints encountered by most developing countries. This booklet summarizes the important features of the financing arrangements discussed in the reference book and was prepared with the aim of widely disseminating the results

  9. Financing arrangements for nuclear power projects - past and present experience and future expectations

    The intent of the author of the present paper is to demonstrate, in a practical manner, the role of the past experience and the new approaches of the nuclear projects financing, especially as nuclear generation financing in developing countries involves complex issues that need to be fully understood and dealt with by all the parties involved, namely: high investment costs, generally long construction periods, a high degree of uncertainty with respect to costs and schedule and to public acceptance, particularly because of safety, waste disposal and non-proliferation issues. Moreover, as many associations whose activities consist of ensuring and facilitating at different levels the exchange of knowledge between generations, i.e.: European Nuclear Society (ENS) Young Generation, North American Young Generation in Nuclear (NA-YGN), the goal of the paper is also to outline the importance of the education in nuclear field, i.e. training a young team of specialists to be ready to take over the movement and responsibility in continuing the further development of nuclear program in Romania, mainly with view to the Financing Arrangements for Nuclear Power Projects. The first part of the paper is referring to general financing procedures, while the second part is focusing on a case study related to the: past experience the financing scheme of Cernavoda NPP Unit 1, present or actual experience ongoing financing issues for Cernavoda NPP Unit 2 and potential future shared contribution to the financing of the next Cernavoda NPP units.(author)

  10. Hungary; Stand-By Arrangement: Interim Review Under the Emergency Financing Mechanism

    International Monetary Fund

    2009-01-01

    This paper focuses on the Stand-By Arrangement for Hungary under the Emergency Financing Mechanism. Economic indicators confirm that the downturn envisaged in the program is already under way. The new bank support law is important, as it provides Hungarian banks with access to capital enhancement and borrowing guarantee facilities. The gradual reductions in the policy interest rate have been appropriate. Looking ahead, continued implementation of policies in line with the program is essential...

  11. Financing peace : Examining the effects of economic decentralization within territorial power sharing arrangements

    Mammadova, Gulnar

    2016-01-01

    The empirical evidence and the academic literature point to the opposed directions on the capability of the territorial arrangements to extenuate conflict in ethnically divided and civil war-worn countries. Little is known about the diverse capacities of the territorial power sharing arrangements in diminishing violence in the post-conflict societies. Therefore, this thesis aims to contribute to the field through studying the conditions under which territorial power sharing arrangements reduc...

  12. Financing arrangements for nuclear power projects - Past and present experience, future expectations

    Nuclear energy is a clean, safe, and economical industrial electricity source, with many environmental benefits. It does not emit greenhouse gases that contribute to climate change, or combustion by-products and acid gases that cause air, water resource and land pollution. Nuclear energy has also many benefits in the areas of medicine, industry, agriculture, and research. Moreover, the results are revealing. Over the past 12 years, from 1900 to 2002, the global 'energy availability factor' - representing the percentage of time that nuclear power plants worldwide were up and running - increased from 72.9% to 83.4%. At the same time, based on statistics gathered by the World Association of Nuclear Operators - WANO, the number of industrial accidents has gone down, radiation exposure has dropped sharply and the annual volume of radioactive waste produced has been reduced substantially. In other words, the safety, performance and economic competitiveness of the nuclear industry are at an all time high, reflecting a mature and vibrant enterprise. These are several reasons why a prospective host nation and other nations around the world may be attracted by nuclear power generation. Nuclear power can be and has been financed by world capital markets. The crucial question is whether host governments and interested utilities are willing to take the steps required to attract investment with reasonable assurance of success, and whether the nuclear industry is willing and able to become competitive in increasingly deregulated financial and electricity markets. The present paper will have the following structure: the first part will refer to general financing guidelines, and the second part will present a case study. The latter will treat the past experience as provided by the financing scheme of Cernavoda NPP Unit 1, the present experience, i.e. ongoing financing issues for Cernavoda NPP Unit 2 and potential future shared contribution to financing Cernavoda NPP Unit 3, 4 and 5

  13. The exchange rate arrangements-government finance relationship and the impact on debt management

    Trifonova, Silvia; Kovachevich, Milena

    2016-01-01

    The choice of exchange rate regime can have a significant impact on the development of the national economy, which affects the main economic indicators. Traditionally, researchers consider the effects of certain types of exchange rate regimes on economic indicators such as gross domestic product, inflation, current account, real exchange rate and investments, but is it possible that the exchange rate regime can also reflect the country's government finance and thus influence the management of...

  14. Financing arrangements and industrial organisation for new nuclear build in electricity markets

    Finon, Dominique; Fabien A. Roques

    2008-01-01

    The paper studies how risks specific to a nuclear power investment in liberalised markets – regulatory, construction, operation and market risks – can be mitigated or transferred away from the plant investor through different contractual and organisational arrangements. It argues that significant risk transfers onto governments, consumers, and, vendors are likely to be needed to make nuclear power attractive to investors in liberalised markets, at least for the first batch of new reactors. Th...

  15. Finance.

    Alexander, Kern

    Patterns that emerged from reviewing syllabi for 12 courses on higher education finance are discussed. The prevailing purpose of the course appeared to be to provide an introduction to fiscal problems and issues in higher education. Some courses did, however, go beyond the introductory stages to analyze the economics of higher education. Most…

  16. Information technology financing options.

    Rai, D

    1996-01-01

    Healthcare executives facing the challenges of delivering quality care and controlling costs must consider the role information technology systems can play in meeting those challenges. To make the best use of information system expenditures, organizations must carefully plan how to finance system acquisitions. Some options that should be considered are paying cash, financing, financing "soft" costs, leasing, credit warehousing and early acceptance financing, and tax-exempt and conduit financing. PMID:10154097

  17. Contractual arrangements

    Conceptually there are a number of different contract models from which a country can select the most suitable for its social, political and economic requirements. These include: 1) the traditional concession, 2) production sharing contracts, 3) service contracts, and 4) equity sharing contracts, i.e. joint ventures. The joint venture arrangement, as it is most commonly used in uranium exploration and mining, is discussed in light of national objectives; geological and technical aspects; infrastructural aspects; and economic aspects. Topics covered include: the exploration phases; the exploration license; exploration area; minimum exploration commitment; host country investor relationship; financing of exploration expenditures; minerals other than uranium; feasibility studies; taxation and levies; and termination of the agreement. During the production phase consideration must be given to such aspects as: The operating company; participation ratio; financing of the participation share; export of production; fiscal regime; imports of goods and services; training of local personnel; provision of support by the host country; assignment of rights; duration of contract; disputes and arbitration procedures; decisions making; transfer of technology; safety; environmental protection and compensation; and restoration of sites. These considerations are all discussed, particularly in regard to the joint venture agreement. The paper emphasises the need, in a successful agreement, for openness and understanding between the parties. No agreement can cover every possible subject that can become a source of disagreement. Only by a sympathetic understanding of each others position and needs can a joint project be successful. (author). 11 refs

  18. Conduit purging device and method

    Wilks, Michael T. (Inventor)

    2011-01-01

    A device for purging gas comprises a conduit assembly defining an interior volume. The conduit assembly comprises a first conduit portion having an open first end and an open second end and a second conduit portion having an open first end and a closed second end. The open second end of the first conduit portion is disposed proximate to the open first end of the second conduit portion to define a weld region. The device further comprises a supply element supplying a gas to the interior volume at a substantially constant rate and a vent element venting the gas from the interior volume at a rate that maintains the gas in the interior volume within a pressure range suitable to hold a weld bead in the weld region in equilibrium during formation of a weld to join the first conduit portion and the second conduit portion.

  19. On the Tonnage Tax Arrangements under KG Ship Finance Model%浅析德国KG船舶融资模式下的吨位税制

    冼先品

    2014-01-01

    Limited partnership ship investment fund has been established in china in 2009,it will be good for the Chinese counterparts to study the well-established ship finance model abroad. KG model is the main source of German ship finance,the rise of the German KG model are closely relating to the German shipping policy,limited partnership system,tax law and tonnage tax regime. This paper will discuss these factors and give an insight in the KG model.%中国有限合伙的船舶投资基金已经成立,对外国成熟的船舶融资模式进行借鉴和研究,有助于国内船舶融资模式的完善和创新。 KG模式是德国最为主要的船舶融资渠道,通过对KG模式的兴起,德国的航运政策、有限合伙制度、税法和吨位税制等方面的论述,探寻KG基金在吨位税制下的合理存在及其业务方式,为创新设计适合中国的船舶融资模式提供有益参考。

  20. New Issues in Corporate Finance

    Mayer, Colin

    1987-01-01

    Flow of funds data are used to compare methods of financing the corporate sector in five countries over the period 1970-85. Many of the problems associated with previous studies of corporate finance are avoided by defining financing proportions in net terms. The degree of consolidation of accounts, reciprocal arrangements between borrowers and lenders, and compensating deposit requirements on borrowers no longer distort financing patterns when net financing is the focus. Corrections for infla...

  1. Conduit Coating Abrasion Testing

    Sullivan, Mary K.

    2013-01-01

    During my summer internship at NASA I have been working alongside the team members of the RESTORE project. Engineers working on the RESTORE project are creating ·a device that can go into space and service satellites that no longer work due to gas shortage or other technical difficulties. In order to complete the task of refueling the satellite a hose needs to be used and covered with a material that can withstand effects of space. The conduit coating abrasion test will help the researchers figure out what type of thermal coating to use on the hose that will be refueling the satellites. The objective of the project is to determine whether or not the conduit coating will withstand the effects of space. For the RESTORE project I will help with various aspects of the testing that needed to be done in order to determine which type of conduit should be used for refueling the satellite. During my time on the project I will be assisting with wiring a relay board that connected to the test set up by soldering, configuring wires and testing for continuity. Prior to the testing I will work on creating the testing site and help write the procedure for the test. The testing will take place over a span of two weeks and lead to an informative conclusion. Working alongside various RESTORE team members I will assist with the project's documentation and records. All in all, throughout my internship at NASA I hope to learn a number of valuable skills and be a part of a hard working team of engineers.

  2. Integrating Conduit with Windows Installer

    2009-01-01

    Conduit is a multi-platform distribution and deployment system originally created by Arve Knudsen. Conduit sets out to streamline the installation process of software, and assist in the installation of software that might otherwise be quite complex to install manually. The system is written in the Python programming language and consists of a generic design which is implemented on multiple operating through several Python modules. The Conduit software suit consists of Python...

  3. Conduit coupling assembly

    A conduit coupling assembly for coupling pipes with an interposed seal has a first part for receiving a pipe and is in splined engagement with a bush fixed to a pipe. A second part having radial fingers so that it can be turned by a manipulator, has a threaded engagement with the first part which is the same hand but different pitch to a threaded engagement between the second part and the bush. Pitches of 8:7 for couplings will give a mechanical advantage of 56:1 thus reducing the force needed to obtain a given axial movement of the bush and thus of the pipe and compression of the seal. (author)

  4. Correctly arranged

    Schanuss, Martin

    2012-07-01

    Optimum yields are only possible with a good flow through the collector array. With large-scale systems it is sometimes necessary to calculate several possible arrangements in order to find the best design. (orig.)

  5. 48 CFR 32.114 - Unusual contract financing.

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Unusual contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.114 Unusual contract financing. Any contract financing arrangement that deviates from this part is unusual contract...

  6. 48 CFR 1332.114 - Unusual contract financing.

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Unusual contract financing... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 1332.114 Unusual contract financing. The designee authorized to approve unusual contract financing arrangements is set forth in...

  7. Financing Public Library Construction.

    Rohlf, Robert H.; Stoffel, Lester L.

    1987-01-01

    Reviews financing options available to Illinois public libraries for construction or expansion, including general obligation bonds, mortgage funds, building reserve funds, building fund levies, lease back arrangements, sale of air or ground development rights, interest on special funds, gift funds and grants, Library Service and Construction Act…

  8. PUBLIC FINANCE VERSUS PRIVATE FINANCE

    AUREL IOAN GIURGIU; FLORIN SEBASTIAN DUMA

    2010-01-01

    The generic term of finance comprises a multitude of practical forms, apparently different not only from the targeted purpose, but also by the way of creating and using of the funds. However, finance is divided in two main forms: public finance and private finance. The public finance is trying to satisfy the common needs of the entire community which is administered by the constituted authority, while the private finance refers to the needs of a much more restrained community constituted thro...

  9. Private Placement Debt Financing for Public Entities

    Holman, Lance S.

    2010-01-01

    Private placement financing is a debt or capital lease obligation arranged between a municipality or a 501(c) (3) not-for-profit organization and a single sophisticated institutional investor. The investor can be a bank, insurance company, finance company, hedge fund, or high-net worth individual. Private placement financing is similar to…

  10. Urinary conduits in gynecologic oncology

    Over an 11-year period (1971 to 1981), 212 urinary conduit surgeries were performed by the Department of Gynecology at the University of Texas, M. D. Anderson Hospital and Tumor Institute at Houston. The urinary diversions were performed as part of the pelvic exenteration operation in 154 patients, for radiation injury in 48 patients, and for palliation of disease recurrence in ten patients. Ninety-three percent had prior pelvic radiotherapy. Various segments of the gastrointestinal tract were used, including the ileum (102), sigmoid colon (99), transverse colon (four), jejunum (four), and others (three). Fifty percent of abnormal preoperative intravenous pyelograms reverted to normal after urinary diversion. Revision of the stoma was required in 6%. Other complications included infection (18%), renal loss (17%), and urinary leaks and fistulae (3%). The overall perioperative mortality was 7%, decreasing from 11% in the first five years to 3% during the last six years. Ureteral stents were routinely used. When selecting a segment of bowel for a urinary conduit, both tissue quality and mobility are important. Mortality and morbidity of urinary conduit surgery continues to decrease with experience

  11. China’s Real Estate Finance:Undergoing Directional Change

    郭琼; 宋燕华; 赵剑飞

    2008-01-01

    Influenced by a host of new policies on real property loans and foreign investment restrictions, real estate finance is in the midst of directional change characterized by fluctuations in domestic and overseas financing arrangements. The long-

  12. Behavioralizing Finance

    Shefrin, Hersh

    2010-01-01

    Finance is in the midst of a paradigm shift, from a neoclassical based framework to a psychologically based framework. Behavioral finance is the application of psychology to financial decision making and financial markets. Behavioralizing finance is the process of replacing neoclassical assumptions with behavioral counterparts. This monograph surveys the literature in behavioral finance, and identifies both its strengths and weaknesses. In doing so, it identifies possible directions for behav...

  13. Peripheral nerve conduits: technology update

    Arslantunali D

    2014-12-01

    Full Text Available D Arslantunali,1–3,* T Dursun,1,2,* D Yucel,1,4,5 N Hasirci,1,2,6 V Hasirci,1,2,7 1BIOMATEN, Center of Excellence in Biomaterials and Tissue Engineering, Middle East Technical University (METU, Ankara, Turkey; 2Department of Biotechnology, METU, Ankara, Turkey; 3Department of Bioengineering, Gumushane University, Gumushane, Turkey; 4Faculty of Engineering, Department of Medical Engineering, Acibadem University, Istanbul, Turkey; 5School of Medicine, Department of Histology and Embryology, Acibadem University, Istanbul, Turkey; 6Department of Chemistry, Faculty of Arts and Sciences, METU, Ankara, Turkey; 7Department of Biological Sciences, Faculty of Arts and Sciences, METU, Ankara, Turkey *These authors have contributed equally to this work Abstract: Peripheral nerve injury is a worldwide clinical problem which could lead to loss of neuronal communication along sensory and motor nerves between the central nervous system (CNS and the peripheral organs and impairs the quality of life of a patient. The primary requirement for the treatment of complete lesions is a tension-free, end-to-end repair. When end-to-end repair is not possible, peripheral nerve grafts or nerve conduits are used. The limited availability of autografts, and drawbacks of the allografts and xenografts like immunological reactions, forced the researchers to investigate and develop alternative approaches, mainly nerve conduits. In this review, recent information on the various types of conduit materials (made of biological and synthetic polymers and designs (tubular, fibrous, and matrix type are being presented. Keywords: peripheral nerve injury, natural biomaterials, synthetic biomaterials

  14. Project financing

    Project financing was defined ('where a lender to a specific project has recourse only to the cash flow and assets of that project for repayment and security respectively') and its attributes were described. Project financing was said to be particularly well suited to power, pipeline, mining, telecommunications, petro-chemicals, road construction, and oil and gas projects, i.e. large infrastructure projects that are difficult to fund on-balance sheet, where the risk profile of a project does not fit the corporation's risk appetite, or where higher leverage is required. Sources of project financing were identified. The need to analyze and mitigate risks, and being aware that lenders always take a conservative view and gravitate towards the lowest common denominator, were considered the key to success in obtaining project financing funds. TransAlta Corporation's project financing experiences were used to illustrate the potential of this source of financing

  15. Apartment purchase financing analysis since World War II until today

    Staniša, Maja

    2009-01-01

    The diploma work deals with the possibility of financing the apartment purchase since World War II until today. In the history of the financing residential economy we are trying to determine legal basis arranging financing, basic characteristics of financing, loaning and institutions which have a leading role in financing in certain periods of history. Residential politicy in Slovenia went through different periods and it always reflected the influence of economical and political systems duri...

  16. Institutional Arrangements for Public Debt Management

    Currie, Elizabeth; Dethier, Jean-Jacques; Togo, Eriko

    2003-01-01

    This paper analyzes institutional arrangements for public debt management by reviewing the experience of OECD countries during the late 1980s and 1990s. It discusses principal-agent issues arising from the delegation of authority from the Minister of Finance to the debt management office and describes how countries have designed governance structures and control and monitoring mechanisms t...

  17. Consumer Finance

    Peter Tufano

    2009-01-01

    Although consumer finance is a substantial element of the economy, it has had a smaller footprint within financial economics. In this review, I suggest a functional definition of the subfield of consumer finance, focusing on four key functions: payments, risk management, moving funds from today to tomorrow (saving/investing), and from tomorrow to today (borrowing). I provide data showing the economic importance of consumer finance in the American economy. I propose a historical explanation fo...

  18. Behavioral Finance

    Hirshleifer, David

    2003-01-01

    Behavioral finance is the study of how psychology affects financial decision making and financial markets. A valuable resource for both academics and practitioners, this authoritative collection brings together the main works in both psychology and finance, dealing with the debate between proponents of the behavioral school and advocates of the efficient market school. The first volume contains works written by leading psychologists that underlie behavioral finance, focusing on general issues...

  19. Biological conduits combining bone marrow mesenchymal stem cells and extracellular matrix to treat long-segment sciatic nerve defects

    Yang Wang

    2015-01-01

    Full Text Available The transplantation of polylactic glycolic acid conduits combining bone marrow mesenchymal stem cells and extracellular matrix gel for the repair of sciatic nerve injury is effective in some respects, but few data comparing the biomechanical factors related to the sciatic nerve are available. In the present study, rabbit models of 10-mm sciatic nerve defects were prepared. The rabbit models were repaired with autologous nerve, a polylactic glycolic acid conduit + bone marrow mesenchymal stem cells, or a polylactic glycolic acid conduit + bone marrow mesenchymal stem cells + extracellular matrix gel. After 24 weeks, mechanical testing was performed to determine the stress relaxation and creep parameters. Following sciatic nerve injury, the magnitudes of the stress decrease and strain increase at 7,200 seconds were largest in the polylactic glycolic acid conduit + bone marrow mesenchymal stem cells + extracellular matrix gel group, followed by the polylactic glycolic acid conduit + bone marrow mesenchymal stem cells group, and then the autologous nerve group. Hematoxylin-eosin staining demonstrated that compared with the polylactic glycolic acid conduit + bone marrow mesenchymal stem cells group and the autologous nerve group, a more complete sciatic nerve regeneration was found, including good myelination, regularly arranged nerve fibers, and a completely degraded and resorbed conduit, in the polylactic glycolic acid conduit + bone marrow mesenchymal stem cells + extracellular matrix gel group. These results indicate that bridging 10-mm sciatic nerve defects with a polylactic glycolic acid conduit + bone marrow mesenchymal stem cells + extracellular matrix gel construct increases the stress relaxation under a constant strain, reducing anastomotic tension. Large elongations under a constant physiological load can limit the anastomotic opening and shift, which is beneficial for the regeneration and functional reconstruction of sciatic nerve. Better

  20. Project financing

    This paper presents the basic concepts and components of the project financing of large industrial facilities. Diagrams of a simple partnership structure and a simple leveraged lease structure are included. Finally, a Hypothetical Project is described with basic issues identified for discussion purposes. The topics of the paper include non-recourse financing, principal advantages and objectives, disadvantages, project financing participants and agreements, feasibility studies, organization of the project company, principal agreements in a project financing, insurance, and an examination of a hypothetical project

  1. 47 CFR 32.2441 - Conduit systems.

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Conduit systems. 32.2441 Section 32.2441 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) COMMON CARRIER SERVICES UNIFORM SYSTEM OF ACCOUNTS FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.2441 Conduit systems....

  2. An Exploratory Study of the Effects of Project Finance on Project Risk Management : How the Distinguishing Attributes of Project Finance affects the Prevailing Risk Factor?

    Chan, Ka Fai

    2011-01-01

    Project finance is a financing arrangement for projects, and it is characterised by the creation of a legally independent project company financed with non- or limited recourse loans. It is observed that the popularity of project finance is increasing in the recent decades, despite of the impact of Asian financial crisis. Especially in emerging markets, project finance is very common among the public-private partnership projects. It is possible that project finance yields some benefits in pro...

  3. Structuring and financing power projects in Asia

    The contractual arrangements for the financing and construction of three 660 MW coal fired power plants in Hong Kong are summarized in the form of headings and a diagram. These cover the joint venture arrangement, construction and equipment supply, the operation and offtake contract, coal supply and the financial structure with respect to commercial risk. (UK)

  4. Financing a nuclear programme

    Nuclear power plant construction projects have many characteristics in common with other types of large infrastructure investment, both within the power generation sector and elsewhere. However, nuclear power itself has special features that can make nuclear financing particularly challenging. These features include the high capital cost, the relatively long period required to recoup investments, the often controversial nature of nuclear projects. The need for clear solutions and financing schemes for radioactive waste management and decommissioning and the need for nuclear power plants to operate at high capacity factors, preferably under base load conditions. During the previous major expansion of nuclear power in the 1970 and 1980, many nuclear projects suffered very large construction delays and cost overruns. The legacy of such problems increases the risks perceived by potential investors. A recent study undertaken jointly by the Iea and the Nea showed that the competitiveness of nuclear power strongly depends on the cost of financing due to the high share of fixed capital costs in the total lifetime costs of nuclear power. A key issue in this context is the long-term predictability of carbon pricing arrangements, which, for the time being and despite positive evolutions in this respect, most notably in Europe, does not yet exist. This paper will consider how the risks can be mitigated and examine in detail various models for corporate finance and the role of government assistance in providing a suitable financial basis. (Author)

  5. 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...

  6. Pumped Storage and Potential Hydropower from Conduits

    none,

    2015-02-25

    Th is Congressional Report, Pumped Storage Hydropower and Potential Hydropower from Conduits, addresses the technical flexibility that existing pumped storage facilities can provide to support intermittent renewable energy generation. This study considered potential upgrades or retrofit of these facilities, the technical potential of existing and new pumped storage facilities to provide grid reliability benefits, and the range of conduit hydropower opportunities available in the United States.

  7. Conduits for Coronary Bypass: Internal Thoracic Artery

    Barner, Hendrick B.

    2012-01-01

    This second report in the series on coronary artery bypass presents the authors experience and personal views on the internal thoracic artery (ITA) which date to 1966. There has been a very gradual evolution in the acceptance of this conduit which was initially compared with the saphenous vein and viewed as an improbable alternative to it. As is common with concepts and techniques which are 'outside the box' there was skepticism and criticism of this new conduit which was more difficult and t...

  8. Optical Arrangement and Method

    2010-01-01

    Processing of electromagnetic radiation is described, said incoming electromagnetic radiation comprising radiation in a first wavelength interval and a plurality of spatial frequencies. An arrangement comprises a focusing arrangement for focusing the incoming electromagnetic radiation, a first ca...

  9. Voluntary Environmental Governance Arrangements

    J. van der Heijden

    2012-01-01

    Voluntary environmental governance arrangements have focal attention in studies on environmental policy, regulation and governance. The four major debates in the contemporary literature on voluntary environmental governance arrangements are studied. The literature falls short of sufficiently specify

  10. Financing strategic healthcare facilities: the growing attraction of alternative capital.

    Zismer, Daniel K; Fox, James; Torgerson, Paul

    2013-05-01

    Community health system leaders often dismiss use of alternative capital to finance strategic facilities as being too expensive and less strategically useful, preferring to follow historical precedent and use tax-exempt bonding to finance such facilities. Proposed changes in accounting rules should cause third-party-financed facility lease arrangements to be treated similarly to tax-exempt debt financings with respect to the income statement and balance sheet, increasing their appeal to community health systems. An in-depth comparison of the total costs associated with each financing approach can help inform the choice of financing approaches by illuminating their respective advantages and disadvantages. PMID:23678696

  11. Financing Innovation

    Yoo, JaeHoon

    2007-01-01

    More than 24 countries operate separate boards and exchanges aimed at small and medium-size enterprises (SMEs). Equity markets play a critical role in fostering economic productivity by financing innovation. But only a few SME exchanges function properly, providing coveted fresh capital and liquidity. What steps are key to building an efficient exchange to provide risk capital for SMEs? Cr...

  12. Sustainable finance

    Boersma-de Jong, Margreet F.

    2012-01-01

    Presentation for Springschool of Strategy, University of Groningen, 10 October 2012. The role of CSR is to stimulate ethical behaviour, and as a result, mutual trust in society. Advantage of CSR for the company and the evolution of CSR. From CSR to Sustainable Finance: how does CSR influence Sustai

  13. Computational Finance

    Rasmussen, Lykke

    One of the major challenges in todays post-crisis finance environment is calculating the sensitivities of complex products for hedging and risk management. Historically, these derivatives have been determined using bump-and-revalue, but due to the increasing magnitude of these computations does...

  14. Variability of permeability with diameter of conduit

    J A Adegoke; J A Olowofela

    2008-05-01

    An entry length is always observed before laminar flow is achieved in fluid flowing in a conduit. This depends on the Reynolds number of the flow and the degree of smoothness of the conduit. This work examined this region and the point where laminar flow commences in the context of flow through conduit packed with porous material like beads, of known porosity. Using some theoretical assumptions, it is demonstrated that permeability varies from zero at wall-fluid boundary to maximum at mid-stream, creating a permeability profile similar to the velocity profile. An equation was obtained to establish this. We also found that peak values of permeability increase with increasing porosity, and therefore entry length increases with increasing porosity with all other parameters kept constant. A plot of peak permeability versus porosity revealed that they are linearly related.

  15. Finance versus democracy? Theorizing finance in society

    Sylvia Walby

    2013-01-01

    What should be the place of finance in social theory? What is the relationship between finance and democracy? The article identifies four major frameworks that analyse finance: orthodox, drawing on Adam Smith; political economy, drawing on Marx; heterodox, drawing on Keynes and Minsky; and societal, drawing on Polanyi. These frameworks are critically analysed along five dimensions: the conceptualization of finance; the relations between finance and the economy; the relations between finance a...

  16. Chitosan Conduit for Peripheral Nerve Regeneration

    1999-01-01

    Chitosan, the N-deacetylated form of chitin, has good biocompatibility and biodegradability.This paper investigates the feasibility of using chitosan conduits for peripheral nerve regeneration.Cell culture experiments were used to test the material's cytotoxicity and affinity to nerve cells.Conduit implantation experiments were used to study the degradation of the material and the regeneration of injured sciatic nerves.The primary results indicate that chitosan has good mechanical properties, biocompatibility, and biodegradability and it may be a promising biomaterial for peripheral nerve regeneration.

  17. Private Power Financing : From Project Finance to Corporate Finance

    Karl G. Jechoutek; Lamech, Ranjit

    1995-01-01

    Project financing of independent power producers (IPPs) may seem the only solution to the intractable problem of getting private credit to the power sector. In the developing world, however, the public-private partnership in project-financed IPP ventures has been slow to produce results. To achieve substantive progress in IPP financing, limited recourse project financing will have to evolv...

  18. The Japanese approach to financing LNG projects

    The Japanese approach approach to financing LNG project has been what could be called a combined purchase and finance system which has been arranged mainly at the initiative of japan's Sogo Shosh (general trading companies) with the support of japanese governmental financial agencies and a purchase commitment from japanese utilities. In the QATARGAS project, despite it being the first greenfield LNG project in decade since North West Shelf Australia LNG project, financing for the LNG plant phase has been successfully arranged through Japanese financing. The structuring of the financial facilities for the QATARGAS project seems to have lessons for future development of the next generation of greenfield LNG projects. Discharge of the parties' liability, proper sharing of the risk burden and reconfirmation of the spirit of mutual understanding and trust among the parties concerned are key factors for the success of any new LNG project in the future. (Author)

  19. Household Finance

    Campbell, John

    2006-01-01

    The welfare benefits of financial markets depend in large part on how effectively households use these markets. The study of household finance is challenging because household behavior is difficult to measure accurately, and because households face constraints that are not captured by textbook models, including fixed costs, uninsurable income risk, borrowing constraints, and contracts that are non-neutral with respect to inflation. Evidence on participation, diversification, and the exercise ...

  20. Sustainable finance

    Boersma-de Jong, Margreet F.

    2012-01-01

    Presentation for Springschool of Strategy, University of Groningen, 10 October 2012. The role of CSR is to stimulate ethical behaviour, and as a result, mutual trust in society. Advantage of CSR for the company and the evolution of CSR. From CSR to Sustainable Finance: how does CSR influence Sustainable Business Administration & Management Accounting, Financial Leadership and what is the importance of CSR in the financial sector

  1. Controlling Wavebreaking in a Viscous Fluid Conduit

    Anderson, Dalton; Maiden, Michelle; Hoefer, Mark

    2015-11-01

    This poster will present a new technique in the experimental investigation of dispersive hydrodynamics. In shallow water flows, internal ocean waves, superfluids, and optical media, wave breaking can be resolved by a dispersive shock wave (DSW). In this work, an experimental method to control the location of DSW formation (gradient catastrophe) is explained. The central idea is to convert an initial value problem (Riemann problem) into an equivalent boundary value problem. The system to which this technique is applied is a fluid conduit resulting from high viscosity contrast between a buoyant interior and heavier exterior fluid. The conduit cross-sectional area is modeled by a nonlinear, conservative, dispersive, third order partial differential equation. Using this model, the aim is to predict the breaking location of a DSW by controlling one boundary condition. An analytical expression for this boundary condition is derived by solving the dispersionless equation backward in time from the desired step via the method of characteristics. This is used in experiment to generate an injection rate profile for a high precision piston pump. This translates to the desired conduit shape. Varying the jump height and desired breaking location indicates good control of DSW formation. This result can be improved by deriving a conduit profile by numerical simulation of the full model equation. Controlling the breaking location of a DSW allows for the investigation of dynamics independent of the boundary. Support provided by NSF CAREER DMS-1255422 , NSF EXTREEMS.

  2. On arrangements of pseudohyperplanes

    PRIYAVRAT DESHPANDE

    2016-08-01

    To every realizable oriented matroid there corresponds an arrangement of real hyperplanes. The homeomorphism type of the complexified complement of such an arrangement is completely determined by the oriented matroid. In this paper we study arrangements of pseudohyperplanes; they correspond to non-realizable oriented matroids. These arrangements arise as a consequence of the Folkman--Lawrence topological representation theorem. We propose a generalization of the complexification process in this context. In particular we construct a space naturally associated with these pseudo-arrangements which is homeomorphic to the complexified complement in the realizable case. Further, we generalize the classical theorem of Salvetti and show that this space has the homotopy type of a cell complex defined in terms of the oriented matroid.

  3. Biological conduits combining bone marrow mesenchymal stem cells and extracellular matrix to treat long-segment sciatic nerve defects

    Yang Wang; Zheng-wei Li; Min Luo; Ya-jun Li; Ke-qiang Zhang

    2015-01-01

    The transplantation of polylactic glycolic acid conduits combining bone marrow mesenchymal stem cells and extracellular matrix gel for the repair of sciatic nerve injury is effective in some re-spects, but few data comparing the biomechanical factors related to the sciatic nerve are available. In the present study, rabbit models of 10-mm sciatic nerve defects were prepared. The rabbit models were repaired with autologous nerve, a polylactic glycolic acid conduit+bone marrow mesenchymal stem cells, or a polylactic glycolic acid conduit+bone marrow mesenchymal stem cells+extracellular matrix gel. After 24 weeks, mechanical testing was performed to determine the stress relaxation and creep parameters. Following sciatic nerve injury, the magnitudes of the stress decrease and strain increase at 7,200 seconds were largest in the polylactic glycolic acid conduit+bone marrow mesenchymal stem cells+extracellular matrix gel group, followed by the polylactic glycolic acid conduit+bone marrow mesenchymal stem cells group, and then the autologous nerve group. Hematoxylin-eosin staining demonstrated that compared with the poly-lactic glycolic acid conduit+bone marrow mesenchymal stem cells group and the autologous nerve group, a more complete sciatic nerve regeneration was found, including good myelination, regularly arranged nerve ifbers, and a completely degraded and resorbed conduit, in the polylac-tic glycolic acid conduit+bone marrow mesenchymal stem cells+extracellular matrix gel group. These results indicate that bridging 10-mm sciatic nerve defects with a polylactic glycolic acid conduit+bone marrow mesenchymal stem cells+extracellular matrix gel construct increases the stress relaxation under a constant strain, reducing anastomotic tension. Large elongations under a constant physiological load can limit the anastomotic opening and shift, which is ben-eifcial for the regeneration and functional reconstruction of sciatic nerve. Better regeneration was found with the

  4. Independent power project finance rating criteria

    Continuing growth of project financing for non-utility generators in the US and abroad has led to growing focus on their credit strength. In general, the financings remain relatively risky and would likely be rated below investment grade, because of various factors: loose power purchase arrangements, poor match between power pricing and fuel costs, aggressive leverage, troubled operating performance. But S and P believes some projects have the credit strength to support investment grade ratings. As traditional financing markets for these projects --- bank lending and private placements with highly specialized institutional investors --- have contracted, project sponsors and developers are considering broader markets. These include institutional investors without specialized focus on power project finance. In these markets, distinctions among projects may lead to greater liquidity and efficiency in developing the pricing and terms under which projects can be financed. This paper reports that ratings are most appropriate for projects seeking permanent financing as they enter commercial operations. They also may be useful for projects which have been operating for some time and for some very strong projects which are raising construction financing. To guide both project developers and investors in project financing, S and P has developed the following approach for rating these types of financings

  5. Arranged Marriage in China

    Ming; Zhao

    2015-01-01

    <正>Marriage is an important institution in our society,which binds men and women the most frequently.When men and women are together,the gender relationship becomes obvious.Most societies in the world are patriarchal,so men’s power penetrates everywhere,including the marriage institution.Marriage institution is built on men’s power,and at the same time,it contributes to men’s power.Arranged marriage is a good example to illustrate how men’s power is over women,which was prevailing in China.China also has arranged marriage today,but particularly in rural areas.Urban China develops a new form of arranged marriage recently,but whether traditional arranged

  6. Arranging the Seats

    官琪

    2004-01-01

    Fiveyouthsfromdifferentcountriescometoapartyandsitaroundaroundtable.AisaChinesewhoalsospeaksEnglish;BisaFrenchWhohaslearnedJapanese;CcomesfromEnglandbutalsospeaksFrench;DisaJapanesewhoseforeignlanguageisChinese;EisaFrenchwhoalsospeaksSpanish(西班牙语).HowcanyouarrangetheirseatssothattheyCanspeakwiththepersonssittingnexttohim?(Keytobefound.)Arranging the Seats@官琪

  7. Conduits for Coronary Bypass: Vein Grafts

    Barner, Hendrick B.; Farkas, Emily A.

    2012-01-01

    The saphenous vein has been the principal conduit for coronary bypass grafting from the beginning, circa 1970. This report briefly traces this history and concomitantly presents one surgeons experience and personal views on use of the vein graft. As such it is not exhaustive but meant to be practical with a modest number of references. The focus is that of providing guidance and perspective which may be at variance with that of others and recognizing that there may be many ways to accomplish ...

  8. Assessment of conduit artery vasomotion using photoplethysmography

    Kanders, Karlis; Grabovskis, Andris; Marcinkevics, Zbignevs; Aivars, Juris Imants

    2013-11-01

    Vasomotion is a spontaneous oscillation of vascular tone. The phenomenon has been observed in small arterioles and capillaries as well as in the large conduit arteries. The layer of smooth muscle cells that surrounds a blood vessel can spontaneously and periodically change its tension and thereby the arterial wall stiffness also changes. As the understanding of the phenomenon is still rather obscure, researchers would benefit from a low-cost and reliable investigation technique such as photoplethysmography (PPG). PPG is an optical blood pulsation measurement technique that can offer substantial information about the arterial stiffness. The aims of this pilot study were to evaluate the usefulness of the PPG technique in the research of vasomotion and to investigate vasomotion in the relatively large conduit arteries. Continuous 15 minute long measurements of posterior tibial artery wall stiffness were taken. Artery diameter, electrocardiogram, blood pressure and respiration were also simultaneously registered. Fast Fourier Transform power spectra were calculated to identify unique stiffness oscillations that did not correspond to fluctuations in the systemic parameters and thus would indicate vasomotion. We concluded that photoplethysmography is a convenient method for the research of the vasomotion in large arteries. Local stiffness parameter b/a is more accurate to use and easier to measure than the pulse wave velocity which describes stiffness of a segment of an artery. Conduit arteries might exhibit a low amplitude high frequency vasomotion ( 9 to 27 cycles per minute). Low frequency vasomotion is problematic to distinguish from the passive oscillations imposed by the arterial pressure.

  9. Thermal damping and retardation in karst conduits

    A. J. Luhmann

    2015-01-01

    Full Text Available Water temperature is a non-conservative tracer in the environment. Variations in recharge temperature are damped and retarded as water moves through an aquifer due to heat exchange between water and rock. However, within karst aquifers, seasonal and short-term fluctuations in recharge temperature are often transmitted over long distances before they are fully damped. Using analytical solutions and numerical simulations, we develop relationships that describe the effect of flow path properties, flow-through time, recharge characteristics, and water and rock physical properties on the damping and retardation of thermal peaks/troughs in karst conduits. Using these relationships, one can estimate the thermal retardation and damping that would occur under given conditions with a given conduit geometry. Ultimately, these relationships can be used with thermal damping and retardation field data to estimate parameters such as conduit diameter. We also examine sets of numerical simulations where we relax some of the assumptions used to develop these relationships, testing the effects of variable diameter, variable velocity, open channels, and recharge shape on thermal damping and retardation to provide some constraints on uncertainty. Finally, we discuss a multitracer experiment that provides some field confirmation of our relationships. High temporal resolution water temperature data are required to obtain sufficient constraints on the magnitude and timing of thermal peaks and troughs in order to take full advantage of water temperature as a tracer.

  10. Thermal damping and retardation in karst conduits

    A. J. Luhmann

    2014-08-01

    Full Text Available Water temperature is a non-conservative tracer in the environment. Variations in recharge temperature are damped and retarded as water moves through an aquifer due to heat exchange between water and rock. However, within karst aquifers, seasonal and short-term fluctuations in recharge temperature are often transmitted over long distances before they are fully damped. Using analytical solutions and numerical simulations, we develop relationships that describe the effect of flow path properties, flow-through time, recharge characteristics, and water and rock physical properties on the damping and retardation of thermal peaks/troughs in karst conduits. Using these relationships, one can estimate the thermal retardation and damping that would occur under given conditions with a given conduit geometry. Ultimately, these relationships can be used with thermal damping and retardation field data to estimate parameters such as conduit diameter. We also examine sets of numerical experiments where we relax some of the assumptions used to develop these relationships, testing the effects of variable diameter, variable velocity, open channels, and recharge shape on thermal damping and retardation to provide some constraints on uncertainty. Finally, we discuss a tracer experiment that provides field confirmation of our relationships. High temporal resolution water temperature data are required to obtain sufficient constraints on the magnitude and timing of thermal peaks and troughs in order to take full advantage of water temperature as a tracer.

  11. Nuclear reactor internals arrangement

    A nuclear reactor internals arrangement is disclosed which facilitates reactor refueling. A reactor vessel and a nuclear core is utilized in conjunction with an upper core support arrangement having means for storing withdrawn control rods therein. The upper core support is mounted to the underside of the reactor vessel closure head so that upon withdrawal of the control rods into the upper core support, the closure head, the upper core support and the control rods are removed as a single unit thereby directly exposing the core for purposes of refueling

  12. Peak load arrangements : Assessment of Nordel guidelines

    2009-07-01

    Two Nordic countries, Sweden and Finland, have legislation that empowers the TSO to acquire designated peak load resources to mitigate the risk for shortage situations during the winter. In Denmark, the system operator procures resources to maintain a satisfactory level of security of supply. In Norway the TSO has set up a Regulation Power Option Market (RKOM) to secure a satisfactory level of operational reserves at all times, also in winter with high load demand. Only the arrangements in Finland and Sweden fall under the heading of Peak Load Arrangements defined in Nordel Guidelines. NordREG has been invited by the Electricity Market Group (EMG) to evaluate Nordel's proposal for 'Guidelines for transitional Peak Load Arrangements'. The EMG has also financed a study made by EC Group to support NordREG in the evaluation of the proposal. The study has been taken into account in NordREG's evaluation. In parallel to the EMG task, the Swedish regulator, the Energy Markets Inspectorate, has been given the task by the Swedish government to investigate a long term solution of the peak load issue. The Swedish and Finnish TSOs have together with Nord Pool Spot worked on finding a harmonized solution for activation of the peak load reserves in the market. An agreement accepted by the relevant authorities was reached in early January 2009, and the arrangement has been implemented since 19th January 2009. NordREG views that the proposed Nordel guidelines have served as a starting point for the presently agreed procedure. However, NordREG does not see any need to further develop the Nordel guidelines for peak load arrangements. NordREG agrees with Nordel that the market should be designed to solve peak load problems through proper incentives to market players. NordREG presumes that the relevant authorities in each country will take decisions on the need for any peak load arrangement to ensure security of supply. NordREG proposes that such decisions should be

  13. National Planning Commission Arrangements

    Watkins, Joanna

    2009-01-01

    Based on a review of relevant World Bank materials and outside sources, this note focuses on two questions of critical importance in discussions surrounding the establishment of a planning commission. These are: 1) what planning commission arrangements seem to be effective? 2) What should the role of a planning commission be in a quasi-federal system? It should be recognized that a plannin...

  14. Power distribution arrangement

    2010-01-01

    An arrangement and a method for distributing power supplied by a power source to two or more of loads (e.g., electrical vehicular systems) is disclosed, where a representation of the power taken by a particular one of the loads from the source is measured. The measured representation of the amount...

  15. Financing wind power projects : perspectives from the US market

    This presentation outlined the recent assignments, core competencies and scope of services provided by Alyra Renewable Energy Finance Advisors. Renewable energy developers seek Alyra's assistance in developing strategies to achieve the most competitive solutions in finance and strategy. Alyra has broad finance expertise in renewable energy projects, a deep knowledge of markets and a significant wind industry network. Alyra identifies emerging issues, completes financing solutions and helps with contract negotiations. This presentation outlined the notable features of wind financing, wind assessment, offtake arrangements, equity considerations, US wind debt markets, long term bank financing, and combined bank and private placement financing. It also included recent debt market activity for seven large wind farms in the United States. tabs., figs

  16. Public Education Finances: 2010

    Dixon, Mark

    2012-01-01

    The U.S. Census Bureau conducts a Census of Government Finances and an Annual Survey of Government Finances as authorized by law under Title 13, U.S. Code, Sections 161 and 182. The Census of Government Finances has been conducted every 5 years since 1957, while the Annual Survey of Government Finances has been conducted annually since 1977 in…

  17. Public Education Finances, 2009

    US Census Bureau, 2011

    2011-01-01

    The U.S. Census Bureau conducts a Census of Government Finances and an Annual Survey of Government Finances as authorized by law under Title 13, U.S. Code, Sections 161 and 182. The Census of Government Finances has been conducted every 5 years since 1957, while the Annual Survey of Government Finances has been conducted annually since 1977 in…

  18. Public utility economics and finance

    Howe, K.M.; Rasmussen, E.F.

    1982-01-01

    Students will find this presentation of the economic and institutional arrangements that surround the area of public utilities helpful in understanding current regulations and possibly suggesting solutions for future problems. The eight sections of the text cover: (1) an introduction to the nature and types of services provided by public utilities; (2) economic characteristics; (3) legal concepts; (4) traditional issues in regulation; (5) independent regulatory commissions; (6) a critique of public-utility regulation; (7) pricing and the regulation of consumer demand; and (8) capital budgeting and finance. 490 references, 37 figures, 38 tables. (DCK)

  19. Tax issues in structuring gas process arrangements

    The current status of various tax issues regarding ownership, operation and financing of gas processing facilities in Canada was discussed. Frequently, energy companies are not taxed because of their large pools of un-depreciated capital cost and other resource related accounts. In addition, their time horizons for taxability are being extended in line with the expansion of their businesses. However, other investors are fully taxable, hence they wish to shelter their income through the use of tax efficient investment arrangements. This paper provides a detailed description of the tax treatment of gas processing facilities, tax implications of various structures between the producer and the investor such as lease, processing fee arrangements etc., and use of 'Canadian Renewable and Conservation Expense' (CRCE) for cogeneration projects within processing plants. All these need to be considered before completing a financing transaction involving a gas processing facility, since the manner in which the transaction is completed will determine the advantages and benefits from an income tax perspective. The accounting and legal aspects must be similarly scrutinized to ensure that the intended results for all parties are achieved. 8 figs

  20. Imaging arrangement and microscope

    Pertsinidis, Alexandros; Chu, Steven

    2015-12-15

    An embodiment of the present invention is an imaging arrangement that includes imaging optics, a fiducial light source, and a control system. In operation, the imaging optics separate light into first and second tight by wavelength and project the first and second light onto first and second areas within first and second detector regions, respectively. The imaging optics separate fiducial light from the fiducial light source into first and second fiducial light and project the first and second fiducial light onto third and fourth areas within the first and second detector regions, respectively. The control system adjusts alignment of the imaging optics so that the first and second fiducial light projected onto the first and second detector regions maintain relatively constant positions within the first and second detector regions, respectively. Another embodiment of the present invention is a microscope that includes the imaging arrangement.

  1. Coloring and Guarding Arrangements

    Bose, Prosenjit; Collette, Sébastien; Hurtado, Ferran; Korman, Matias; Langerman, Stefan; Taslakian, Perouz

    2012-01-01

    Given an arrangement of lines in the plane, what is the minimum number $c$ of colors required to color the lines so that no cell of the arrangement is monochromatic? In this paper we give bounds on the number c both for the above question, as well as some of its variations. We redefine these problems as geometric hypergraph coloring problems. If we define $\\Hlinecell$ as the hypergraph where vertices are lines and edges represent cells of the arrangement, the answer to the above question is equal to the chromatic number of this hypergraph. We prove that this chromatic number is between $\\Omega (\\log n / \\log\\log n)$. and $O(\\sqrt{n})$. Similarly, we give bounds on the minimum size of a subset $S$ of the intersections of the lines in $\\mathcal{A}$ such that every cell is bounded by at least one of the vertices in $S$. This may be seen as a problem on guarding cells with vertices when the lines act as obstacles. The problem can also be defined as the minimum vertex cover problem in the hypergraph $\\Hvertexcell$...

  2. "Money in Finance"

    Wray, L. Randall

    2011-01-01

    This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private institutions and provider of finance is also discussed, and related topics such as liquidity and saving are explored. We conclude with a look at some of the new innovations in finance, and at the global financial...

  3. The effect of Ti conduit on the critical current in (Nb,Ti)3Sn cable-in-conduit conductors

    The effect of titanium conduit on the critical current in (Nb,Ti)3Sn cable-in-conduit conductors was investigated to obtain a high performance conductor which would be applied to large superconducting magnets such as those for fusion machines. Titanium has equivalent thermal contraction coefficient to that of (Nb,Ti)3Sn filaments, and it is expected by using titanium as the conduit to suppress degradation of critical current due to excess thermal prestrain on (Nb,Ti)3Sn filaments. Some titanium conduit sample conductors were made, and thier critical current performance were measured together with some stainless steel (SUS316) and copper-nickel alloy (Cu-10Ni) conduit conductors. The experimental results indicated that the titanium conduit conductors had no critical current degradation due to thermal strain, whereas the stainless steel and copper-nickel alloy conduit conductors showed remarkable degradation on thier critical current performance and greater degradation was observed with smaller void conductor. In conclusion, titanium is verified to be excellent conduit material for (Nb,Ti)3Sn cable-in-conduit conductors. (author)

  4. Inspection of Emergency Arrangements

    The Working Group on Inspection Practices (WGIP) was tasked by the NEA CNRA to examine and evaluate the extent to which emergency arrangements are inspected and to identify areas of importance for the development of good inspection practices. WGIP members shared their approaches to the inspection of emergency arrangements by the use of questionnaires, which were developed from the requirements set out in IAEA Safety Standards. Detailed responses to the questionnaires from WGIP member countries have been compiled and are presented in the appendix to this report. The following commendable practices have been drawn from the completed questionnaires and views provided by WGIP members: - RBs and their Inspectors have sufficient knowledge and information regarding operator's arrangements for the preparedness and response to nuclear emergencies, to enable authoritative advice to be given to the national coordinating authority, where necessary. - Inspectors check that the operator's response to a nuclear emergency is adequately integrated with relevant response organisations. - Inspectors pay attention to consider the integration of the operator's response to safety and security threats. - The efficiency of international relations is checked in depth during some exercises (e.g. early warning, assistance and technical information), especially for near-border facilities that could lead to an emergency response abroad. - RB inspection programmes consider the adequacy of arrangements for emergency preparedness and response to multi-unit accidents. - RBs assess the adequacy of arrangements to respond to accidents in other countries. - The RB's role is adequately documented and communicated to all agencies taking part in the response to a nuclear or radiological emergency. - Inspectors check that threat assessments for NPPs have been undertaken in accordance with national requirements and that up-to-date assessments have been used as the basis for developing emergency plans for

  5. Seating arrangement in Althingi

    Þorsteinn Magnússon

    2014-12-01

    Full Text Available Almost a century has passed since Althingi, the Parliament of Iceland, introduced, in 1916, the method of allocating seats to Members by drawing lots at the start of each session. This arrangement is not customary in any other national parliament in the world. It has never been established why this particular method of allocating seats was introduced in Althingi. Neither has it been mapped out how the allocation was conducted, what the Members thought of it nor what impact, if any, the arrangement had on the relations of Members and the workings of Althingi. This article therefore presents the first study of this subject in Iceland. The article also places the seat allocation procedure of Althingi in an international context, as the general rule in parliaments around the world is that Members are seated together in parliamentary party groups. The conclusions of the study are, among other things, that the seat allocation by lot was probably modelled on the House of Representatives of the United States Congress, where seats were allocated by lot from 1845-1913. The study also reveals that over 40 years passed until seat allocation by lot became fully established procedure in Althingi. In the Upper House seats were not allocated by lot at the great majority of sessions until 1959 and Members appear to have been mainly seated along party lines. In the Lower House it was common for some Members to exchange seats following the drawing of lots, and for some time attempts were made to introduce seating by parliamentary party, but the efforts were unsuccessful due to insufficient support. Since 1959 there has not been any disagreement regarding the drawing of lots for seats. Generally speaking, Members appear to hold the opinion that the seating arrangement in Althingi has a positive impact on personal relations, is a positive counterbalance to the division of Members into government supporters and opposition members and that the allocation of seats by

  6. Port entry arrangements

    The objective of the paper is to describe the safety scheme port authorities should establish to deal with any contingency that may result from the visit of a nuclear powered ship. The safety scheme should be devised to cover both normal operation and any accident conditions that could arise while the ship is in port. The paper is divided into three parts. The three parts being: background information, general instructions, and emergency procedures. The background information will describe the nature of the hazards a port authority has to be prepared to deal with, and the philosophical basis for a berthing policy. In the part dealing with general instructions the objective of the safety scheme will be described. Also this part will describe the composition of the Port Safety Panel, allocation of responsibilities, passage and berthing arrangements, general safety precautions, records required, and rescue arrangements. In the part dealing with emergency procedures the role of: the Ship's Master, Harbour Authorities, Local Police, and local Health Services are discussed. As an Appendix to the paper a copy of the safety scheme that has been devised for visits of nuclear merchant ships to Southampton is given

  7. Project finance in Eastern Europe

    A dysfunctional system of commercial, legal, and financial institutions is the primary problem facing the energy sectors in Eastern Europe. Generally, a major systemic transformation is well underway in the area and is already showing signs of success. The empty promise of export credit financing exerts a significant negative influence on this reform process. The discipline of project finance provides the best, if not the only, basis for financing the modernization of the Eastern European energy sector. An example is given of the Cracow Environmental Project, a modernization project. The power plant is a combined heat and power facility with 460 MW of electric capacity and 1450 MW of thermal energy capacity. Located near the center of Cracow, the plant burns hard coal and provides more than seventy percent of the central district heat consumed in the city. The scope of proposed improvements has changed from the addition of capacity to a combination of modernization and environmental retrofit of the existing plant. The total estimated cost of the improvements program is 150 million dollars. The project consists of three major elements. First, it has proposed and is in the process of restructuring the ownership of the power plant. Second, it is engaged in a major restructuring of the commercial arrangements that govern the operation of the plant. Finally, it is in the late stages of selecting an engineering, procurement, and construction consortium with which it will contract to design and make major improvements to the existing plant

  8. Financing working capital

    Vasile Popengă; Mirela Popescu

    2002-01-01

    The paper presents some particularities regarding the following aspects: what is working capital; shows alternative net working capital financing strategies, ranging from the most to least risky; also some sources of short-term finance

  9. Statistics for Finance

    Lindström, Erik; Madsen, Henrik; Nielsen, Jan Nygaard

    Statistics for Finance develops students’ professional skills in statistics with applications in finance. Developed from the authors’ courses at the Technical University of Denmark and Lund University, the text bridges the gap between classical, rigorous treatments of financial mathematics...

  10. Auspicious tatami mat arrangements

    Erickson, Alejandro; Schurch, Mark; Woodcock, Jennifer

    2011-01-01

    An \\emph{auspicious tatami mat arrangement} is a tiling of a rectilinear region with two types of tiles, $1 \\times 2$ tiles (dimers) and $1 \\times 1$ tiles (monomers). The tiles must cover the region and satisfy the constraint that no four corners of the tiles meet; such tilings are called \\emph{tatami tilings}. The main focus of this paper is when the rectilinear region is a rectangle. We provide a structural characterization of rectangular tatami tilings and use it to prove that the tiling is completely determined by the tiles that are on its border. We prove that the number of tatami tilings of an $n \\times n$ square with $n$ monomers is $n2^{n-1}$. We also show that, for fixed-height, the generating function for the number of tatami tilings of a rectangle is a rational function, and outline an algorithm that produces the generating function.

  11. Thermally actuated linkage arrangement

    A reusable thermally actuated linkage arrangement includes a first link member having a longitudinal bore therein adapted to receive at least a portion of a second link member therein, the first and second members being sized to effect an interference fit preventing relative movement there-between at a temperature below a predetermined temperature. The link members have different coefficients of thermal expansion so that when the linkage is selectively heated by heating element to a temperature above the predetermined temperature, relative longitudinal and/or rotational movement between the first and second link members is enabled. Two embodiments of a thermally activated linkage are disclosed which find particular application in actuators for a grapple head positioning arm in a nuclear reactor fuel handling mechanism to facilitate back-up safety retraction of the grapple head independently from the primary fuel handling mechanism drive system. (author)

  12. Perspectives applicable to financing midstreamers: legal considerations

    Systemic changes that have affected the sale, distribution and transportation of gas near the burner tip (collectively called 'midstream' activities) are reviewed, examining the causes of change, and the types of midstream asset transactions that are occurring, whether they involve structured financing arrangements or midstream companies. Also addressed are issues involved in transactions of this type, especially as they relate to gathering and processing agreements and construction, ownership and operation (CO and O) agreements. The two principal alternative structures (1) the financing party who does not assume operational control of the facility, and the (2) midstream company who build or acquire assets and operate them, the different implications for financing of each of the structural alternatives and the changing attitudes of producers towards midstream entities are explained. Closer examination of these new business structures reveals that they conflict with the terms and conditions of midstream agreements commonly used throughout the industry. It is recommended that these standard agreements be amended to permit midstream transactions to occur without undue restrictions. The kind of amendments suggested include automatic consent to a transfer of a facility to a Financing Party that meets certain reasonable financial tests; allowing the reconveyance from the Financing Party to the producer under a repurchase option; allowing the producer to act as Operator in place of its Financing Party

  13. Islamic finance in Europe

    2013-01-01

    Islamic finance is based on ethical principles in line with Islamic religious law. Despite its low share of the global financial market, Islamic finance has been one of this sector’s fastest growing components over the last decades and has gained further momentum in the wake of the financial crisis. The paper examines the development of and possible prospects for Islamic finance, with a special focus on Europe. It compares Islamic and conventional finance, particularly as concerns risks assoc...

  14. Does Finance Benefit Society?

    Luigi Zingales

    2015-01-01

    Academics' view of the benefits of finance vastly exceeds societal perception. This dissonance is at least partly explained by an under-appreciation by academia of how, without proper rules, finance can easily degenerate into a rent-seeking activity. I outline what finance academics can do, from a research point of view and from an educational point of view, to promote good finance and minimize the bad.

  15. Caring finance practices

    Staveren, Irene

    2013-01-01

    textabstractThe 2008 financial crisis has demonstrated the failure of both utilitarian and deontological ethics in finance. Alternatives do not need to be created from nothing, because the crisis itself has stimulated the emergence of ethically sound finance practices from within the sector. This article presents two cases of such alternatives, which can be understood as caring finance. Caring finance is built around more personal relationships, responsibility, and risk reduction. The example...

  16. Nuclear decommissioning: Funding arrangements

    This statement describes the United Kingdom's approach to funding civil nuclear decommissioning activities and explain proposed changes to the current arrangements. The UK has nuclear operators both in the private and public sectors and the approach to decommissioning funding differs. British Energy (BE), which operates a fleet of AGR power stations and a PWR, is in the private sector. On privatization, a segregated fund was established to cover BE's future decommissioning costs. Money paid into the fund is invested and the accumulated assets used to meet future decommissioning and cleanup costs. The precise amount of money that will be required to cover decommissioning costs is not an exact science. That is why the performance of the segregated fund is reviewed at five yearly intervals, at which stage BE's annual contribution can be adjusted as appropriate. To ensure that the fund is managed effectively and investments are made wisely, the fund is managed by independent trustees jointly appointed by the Government and the company. So far, the fund is performing as expected and it is on target to cover BE's decommissioning costs. Operators in the public sector include British Nuclear Fuels Limited (BNFL) and the United Kingdom Atomic Energy Authority (UKAEA). BNFL operates the fleet of Magnox power stations, a number of which are in various stages of decommissioning. BNFL also operates Sellafield (reprocessing, MOX and other operations) and Springfields (fuel manufacture). UKAEA is responsible for decommissioning the UK's former research reactor sites at Dounreay, Windscale (Cumbria), Harwell and Winfrith (Dorset). Under current arrangements, taxpayers meet the cost of decommissioning and cleanup at UKAEA sites; taxpayers will also meet the costs associated with the decommissioning of Magnox power stations from 2008 onwards

  17. 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)

  18. Guinea School Finance

    World Bank Group

    2013-01-01

    Systems approach for better education results (SABER) school finance collects, analyzes, synthesizes, and disseminates comprehensive information on school finance policies in primary and secondary education across a range of different education systems. The goal is to enable policymakers to learn about how other countries address the same policy challenges related to school finance and thu...

  19. Alternative windpower ownership structures: Financing terms and project costs

    Wiser, R.; Kahn, E.

    1996-05-01

    Most utility-scale renewable energy projects in the United States are developed and financed by private renewable energy companies. Electric output is then sold to investor-owned and public utilities under long-term contracts. Limited partnerships, sale/leaseback arrangements, and project-financing have historically been the dominant forms of finance in the windpower industry, with project-finance taking the lead more recently. Although private ownership using project-finance is still the most popular form of windpower development, alternative approaches to ownership and financing are becoming more prevalent. U.S. public and investor-owned electric utilities (IOUs) have begun to participate directly in windpower projects by owning and financing their own facilities rather than purchasing windpower from independent non-utility generators (NUGs) through power purchase agreements (PPAs). In these utility-ownership arrangements, the wind turbine equipment vendor/developer typically designs and constructs a project under a turnkey contract for the eventual project owner (the utility). The utility will also frequently sign an operations and maintenance (O&M) contract with the project developer/equipment vendor. There appear to be a number of reasons for utility involvement in recent and planned U.S. wind projects. One important claim is that utility ownership and self-finance provides substantial cost savings compared to contracting with private NUGs to supply wind-generated power. In this report, we examine that assertion.

  20. Mezzanine finance and corporate bonds

    Libena TETREVOVA

    2009-01-01

    The article deals with the problems of mezzanine finance in relation to corporate bonds. Firstly, attention is paid to definition of mezzanine finance. The term mezzanine finance is used as a term for hybrid forms of financing that combine elements of debt and equity financing. Mezzanine finance represents an alternative form of financing corporate activities. Secondly, possible forms of mezzanine finance are characterized. We can say that special types of corporate bonds (convertible bonds a...

  1. Spotlight on CERN : Le code de conduite

    CERN Video Productions

    2010-01-01

    Cette année 2010, le démarrage du LHC a été le témoignage de la réussite de la collaboration scientifique au CERN, rapprochant les personnes, hommes et femmes, tous ensemble pour la plus grande des réalisations. Cette collaboration nécessite une ouverture sur la diversité basée sur des valeurs solides. Pour s’assurer que l'Organisation continue sur la voie du succès, un consensus a été atteint sur des valeurs caractérisant le CERN et celles-ci ont été regroupées dans un Code de conduite, décrivant la norme de base du comportement que nous pouvons tous espérer de nous-mêmes et de nos collègues sur notre lieu de travail. Entrevues avec Rolf Heuer, Directeur Général du CERN, Anne-Sylvie Catherin, Chef du Département des Ressources Humaines, et Vincent Vuillemin, Ombuds au CERN.

  2. Biological conduit small gap sleeve bridging method for peripheral nerve injury:regeneration law of nerve ifbers in the conduit

    Pei-xun Zhang; Li-ya A; Yu-hui Kou; Xiao-feng Yin; Feng Xue#; Na Han; Tian-bing Wang; Bao-guo Jiang

    2015-01-01

    The clinical effects of 2-mm small gap sleeve bridging of the biological conduit to repair periph-eral nerve injury are better than in the traditional epineurium suture, so it is possible to replace the epineurium suture in the treatment of peripheral nerve injury. This study sought to identify the regeneration law of nerve fibers in the biological conduit. A nerve regeneration chamber was constructed in models of sciatic nerve injury using 2-mm small gap sleeve bridging of a biodegradable biological conduit. The results showed that the biological conduit had good his-tocompatibility. Tissue and cell apoptosis in the conduit apparently lessened, and regenerating nerve ifbers were common. The degeneration regeneration law of Schwann cells and axons in the conduit was quite different from that in traditional epineurium suture. During the prime period for nerve fiber regeneration (2–8 weeks), the number of Schwann cells and nerve fibers was higher in both proximal and distal ends, and the effects of the small gap sleeve bridging method were better than those of the traditional epineurium suture. The above results provide an objec-tive and reliable theoretical basis for the clinical application of the biological conduit small gap sleeve bridging method to repair peripheral nerve injury.

  3. Biological conduit small gap sleeve bridging method for peripheral nerve injury: regeneration law of nerve fibers in the conduit

    Pei-xun Zhang

    2015-01-01

    Full Text Available The clinical effects of 2-mm small gap sleeve bridging of the biological conduit to repair peripheral nerve injury are better than in the traditional epineurium suture, so it is possible to replace the epineurium suture in the treatment of peripheral nerve injury. This study sought to identify the regeneration law of nerve fibers in the biological conduit. A nerve regeneration chamber was constructed in models of sciatic nerve injury using 2-mm small gap sleeve bridging of a biodegradable biological conduit. The results showed that the biological conduit had good histocompatibility. Tissue and cell apoptosis in the conduit apparently lessened, and regenerating nerve fibers were common. The degeneration regeneration law of Schwann cells and axons in the conduit was quite different from that in traditional epineurium suture. During the prime period for nerve fiber regeneration (2-8 weeks, the number of Schwann cells and nerve fibers was higher in both proximal and distal ends, and the effects of the small gap sleeve bridging method were better than those of the traditional epineurium suture. The above results provide an objective and reliable theoretical basis for the clinical application of the biological conduit small gap sleeve bridging method to repair peripheral nerve injury.

  4. Path innovation of rural property mortgage financing in China

    Wu Yongchao

    2016-01-01

    Rural property mortgage financing, as an important breakthrough to deepen the reform of rural property right system and financial system, is an important approach to increase the farmers’ property income. Besides, rural property mortgage financing is of great significance in implementing the rural land usufructuary right and meeting the demand of medium-and-long-term and large-scale operation of the funds used in agricultural production. Under the existing institutional arrangement, the prope...

  5. Risk Management In Mudharabah And Musharakah Financing Of Islamic Banks

    Irawan Febianto

    2010-01-01

    The low level participation of the Islamic banks in mudharabah and musharakah financing models has become one of the problems in the development of the industry. This arrangements are unique to Islamic banking and account for its superiority over conventional banking on grounds of ethics and efficiency, but the majority of Islamic banks have limited themselves to less risky trade-financing assets, which tend to be a shorter maturity. This paper tries to analyzes why Islamic banks are reluctan...

  6. Corporate Governance Mechanisms and Firm Financing in India

    Jayesh Kumar

    2005-01-01

    This study investigates the firm financing patterns in India and the role of corporate governance mechanisms. We use firm-level time series data of nearly 2000 listed companies from 1994 through 2000, to analyze the firm’s corporate financing behavior in connection with its corporate governance arrangements, specially its shareholding pattern. Our results show that the capital structure of the firm is non-linearly linked to its corporate governance mechanisms (ownership structure). We find th...

  7. Conduit flow experiments help constraining the regime of explosive eruptions

    Dellino, P.; Università di Bari; Dioguardi, F.; Università di Bari; Zimanowski, B.; University of Wurzburg; Buttner, R.; University of Wurzburg; Mele, D.; Università di Bari; La Volpe, L.; Università di Bari; Sulpizio, R.; Università di Bari, Centro Interdipartimentale per il Rischio Sismico e Vulcanico, c/o Dip.to Geomineralogico; Doronzo, D. M.; Università di Bari; Sonder, I.; University of Wurzburg; Bonasia, R.; Istituto Nazionale di Geofisica e Vulcanologia, Sezione OV, Napoli, Italia; Calvari, S.; Istituto Nazionale di Geofisica e Vulcanologia, Sezione Catania, Catania, Italia; Marotta, E.; Istituto Nazionale di Geofisica e Vulcanologia, Sezione OV, Napoli, Italia

    2009-01-01

    It is currently impractical to measure what happens in a volcano during an explosive eruption, and up to now much of our knowledge depends on theoretical models. Here we show, by means of large-scale experiments, that the regime of explosive events can be constrained based on the characteristics of magma at the point of fragmentation and conduit geometry. Our model, whose results are consistent with the literature, is a simple tool for defining the conditions at conduit exit th...

  8. Emplacement of the Nain anorthosite : diapiric versus conduit ascent

    Royse, Katherine; Park, R. G.

    2000-01-01

    Estimation of settling velocities of large orthopyroxene megacrysts, found within anorthosite intrusions, are calculated and compared with ascent rates achieved by diapirism and conduit propagation. Calculations suggest that diapirism is far too slow to be an appropriate ascent mechanism for anorthositic crystal mush and favour conduit emplacement. The intrusions of the Nain Plutonic Suite (NPS) are located along the Abloviak shear zone, which marks the boundary between the Nain and Churchill...

  9. k-Parabolic Subspace Arrangements

    Severs, Christopher; White, Jacob

    2009-01-01

    Nous généralisons les arrangements k-égaux à tous les groupes de réflexions finis réels. Les arrangements ainsi obtenus sont dits k-paraboliques. Dans le cas où k = 2 nous retrouvons les arrangements de Coxeter qui sont bien connus. En 1971, Brieskorn démontra que le groupe fondamental associé au complément (complexe) de l'arrangement de Coxeter de type W est en fait isomorphe au groupe pure d'Artin de type W . En 1996, Khovanov donne une description algébrique du groupe fondamental du complé...

  10. Guidebook to financing CDM projects

    Kamel, S.

    2007-07-01

    One of the challenges facing Clean Development Mechanism (CDM) projects today is their limited ability to secure financing for the underlying greenhouse gas emission reduction activities, particularly in the least developed countries. Among the key reasons for this is the fact that most financial intermediaries in the CDM host countries have limited or no knowledge of the CDM Modalities and Procedures. Moreover, approaches, tools and skills for CDM project appraisal are lacking or are asymmetrical to the skills in comparable institutions in developed countries. Consequently, developing country financial institutions are unable to properly evaluate the risks and rewards associated with investing or lending to developers undertaking CDM projects, and therefore have, by-and-large, refrained from financing these projects. In addition, some potential project proponents lack experience in structuring arrangements for financing a project. This Guidebook - commissioned by the UNEP Risoe Centre as part of the activities of the Capacity Development for CDM (CD4CDM) project (http://www.cd4cdm.org) - addresses these barriers by providing information aimed at both developing country financial institutions and at CDM project proponents. It should be noted that while the Guidebook was developed particularly with the CDM in mind, most sections will also be relevant for Joint Implementation (JI) project activities. For more detailed information on JI modalities and procedures please consult: http://ji.unfccc.int The purpose of this Guidebook is two-fold: 1) To guide project developers on obtaining financing for the implementation of activities eligible under the CDM; and 2) To demonstrate to developing country financial institutions typical approaches and methods for appraising the viability of CDM projects and for optimally integrating carbon revenue into overall project financing. The target audiences for the Guidebook are therefore, primarily: 1) CDM project proponents in

  11. Project financing in Latin America: The search for greener pastures

    This paper addresses the basic requisites for inducing private capital to engage in infrastructure project financing. Part 1 of this paper provides an overview of project financing considerations, such as how pricing of project outputs and the credit history of output purchasers can affect the availability of project financing, and explores the use of ''Revolving Funds'' as a stimulus for private investment. Part 2 discusses several areas in which governments can become pro-active participants in establishing a sound framework for project financing of infrastructure. Part 3 briefly addresses project structuring and the contractual risk allocation process which is central to project financing, and highlights some of the key legal arrangements found in project contracts

  12. FINANCING OF INTERNATIONAL TRANSACTIONS

    RADU NICOLAE BĂLUNĂ

    2013-02-01

    Full Text Available Financing (funding is essentially the purchase of funds necessary for a business. This can be done from internal sources (company’s own funds or external (borrowed funds. The high value of goods traded in international trade makes revenues generated from internal resources not sufficient to settle the value of the goods. Thus, it is frequent to resort to borrowed funds. In International Business Transactions, external financing is done both by classical techniques of credit (credit supplier and buyer credit and modern techniques of financing (factoring, forfeiting, leasing all trade tailored. In terms of the length of financing, accounting funding is short-term (1-12 months and long-term financing (over a year. In principle, export and import operations prevailing short-term financing techniques, while international investment and industrial cooperation actions are specific long-term funding

  13. Financing Distributed Generation

    This paper introduces the engineer who is undertaking distributed generation projects to a wide range of financing options. Distributed generation systems (such as internal combustion engines, small gas turbines, fuel cells and photovoltaics) all require an initial investment, which is recovered over time through revenues or savings. An understanding of the cost of capital and financing structures helps the engineer develop realistic expectations and not be offended by the common requirements of financing organizations. This paper discusses several mechanisms for financing distributed generation projects: appropriations; debt (commercial bank loan); mortgage; home equity loan; limited partnership; vendor financing; general obligation bond; revenue bond; lease; Energy Savings Performance Contract; utility programs; chauffage (end-use purchase); and grants. The paper also discusses financial strategies for businesses focusing on distributed generation: venture capital; informal investors (''business angels''); bank and debt financing; and the stock market

  14. Islamic Banking and Finance

    AlFarra, Diaa M. S.

    2015-01-01

    Islamic Banking and Finance has been growing rapidly during the last decades. Descriptive analysis has been used in order to introduce the Islamic banking and finance and how it works. On other hand, clarify the Islamic Banking and Finance Systems and show how it works in part of liability and also profit and loss sharing basis. In addition to that, the main similarities and differences were properly identified, introduced and discussed in the paper. It is obvious that there are many similari...

  15. Hawkes processes in finance

    Emmanuel Bacry; Iacopo Mastromatteo; Jean-Fran\\c{c}ois Muzy

    2015-01-01

    In this paper we propose an overview of the recent academic literature devoted to the applications of Hawkes processes in finance. Hawkes processes constitute a particular class of multivariate point processes that has become very popular in empirical high frequency finance this last decade. After a reminder of the main definitions and properties that characterize Hawkes processes, we review their main empirical applications to address many different problems in high frequency finance. Becaus...

  16. Globalisation et finances internationales

    Prada B., Luis M.

    2011-01-01

    Cet article énonce les principales caractéristiques de la globalisation économique, il précise également en quoi consiste la globalisation financière et met en relief le rôle des investisseurs institutionnels dans les nouvelles finances. De même, l´article conclut que la globalisation financière offre de nouvelles opportunités ; à nous la responsabilité de les profiter.

  17. Financing of Business Activities

    Klimkova, Jana

    2010-01-01

    This bachelor‘s thesis focuses on the financing of investment of a particular company. The thesis consists of three parts. The first part describes basic concepts, various sources of financing and methods of investment evaluation. In the second part, the company itself is introduced and there is also described the intention of the investment. In the third part the suggestions of the financing of investment are made. In the conclusion, there is chosen the exact suggestion, which is the most su...

  18. Nonrecourse financing and securitization

    Kobayashi, Mami; Osano, Hiroshi

    2012-01-01

    We consider the role of the nonrecourse financing of securitization by a financial institution (FI). Our model suggests that even though the FI has the opportunity to provide liquidity support afterward, it is optimal for the FI to use the nonrecourse financing of securitization initially, because the nonrecourse security makes liquidation of the original asset more attractive for an FI that knows that the original asset is bad. However, our model also predicts that the nonrecourse financing ...

  19. Financing Strategies for Nuclear Fuel Cycle Facility

    To help meet our nation's energy needs, reprocessing of spent nuclear fuel is being considered more and more as a necessary step in a future nuclear fuel cycle, but incorporating this step into the fuel cycle will require considerable investment. This report presents an evaluation of financing scenarios for reprocessing facilities integrated into the nuclear fuel cycle. A range of options, from fully government owned to fully private owned, was evaluated using a DPL (Dynamic Programming Language) 6.0 model, which can systematically optimize outcomes based on user-defined criteria (e.g., lowest life-cycle cost, lowest unit cost). Though all business decisions follow similar logic with regard to financing, reprocessing facilities are an exception due to the range of financing options available. The evaluation concludes that lowest unit costs and lifetime costs follow a fully government-owned financing strategy, due to government forgiveness of debt as sunk costs. Other financing arrangements, however, including regulated utility ownership and a hybrid ownership scheme, led to acceptable costs, below the Nuclear Energy Agency published estimates. Overwhelmingly, uncertainty in annual capacity led to the greatest fluctuations in unit costs necessary for recovery of operating and capital expenditures; the ability to determine annual capacity will be a driving factor in setting unit costs. For private ventures, the costs of capital, especially equity interest rates, dominate the balance sheet; the annual operating costs dominate the government case. It is concluded that to finance the construction and operation of such a facility without government ownership could be feasible with measures taken to mitigate risk, and that factors besides unit costs should be considered (e.g., legal issues, social effects, proliferation concerns) before making a decision on financing strategy

  20. Financing Strategies for Nuclear Fuel Cycle Facility

    David Shropshire; Sharon Chandler

    2005-12-01

    To help meet our nation’s energy needs, reprocessing of spent nuclear fuel is being considered more and more as a necessary step in a future nuclear fuel cycle, but incorporating this step into the fuel cycle will require considerable investment. This report presents an evaluation of financing scenarios for reprocessing facilities integrated into the nuclear fuel cycle. A range of options, from fully government owned to fully private owned, was evaluated using a DPL (Dynamic Programming Language) 6.0 model, which can systematically optimize outcomes based on user-defined criteria (e.g., lowest life-cycle cost, lowest unit cost). Though all business decisions follow similar logic with regard to financing, reprocessing facilities are an exception due to the range of financing options available. The evaluation concludes that lowest unit costs and lifetime costs follow a fully government-owned financing strategy, due to government forgiveness of debt as sunk costs. Other financing arrangements, however, including regulated utility ownership and a hybrid ownership scheme, led to acceptable costs, below the Nuclear Energy Agency published estimates. Overwhelmingly, uncertainty in annual capacity led to the greatest fluctuations in unit costs necessary for recovery of operating and capital expenditures; the ability to determine annual capacity will be a driving factor in setting unit costs. For private ventures, the costs of capital, especially equity interest rates, dominate the balance sheet; the annual operating costs dominate the government case. It is concluded that to finance the construction and operation of such a facility without government ownership could be feasible with measures taken to mitigate risk, and that factors besides unit costs should be considered (e.g., legal issues, social effects, proliferation concerns) before making a decision on financing strategy.

  1. IAEA paper on institutional arrangements

    At its fifth series of meetings, Working Group 3 received a background paper prepared by the IAEA which had a threefold purpose: firstly, to provide an overview on institutional arrangements under consideration by the INFCE Working Groups; secondly, to explore potential relationships between the various institutional arrangements under consideration; and thirdly, to identify areas where further analysis might be desirable

  2. Hyperplane Arrangements and Diagonal Harmonics

    Armstrong, Drew

    2010-01-01

    In 2003, Haglund's {\\sf bounce} statistic gave the first combinatorial interpretation of the $q,t$-Catalan numbers and the Hilbert series of diagonal harmonics. In this paper we propose a new combinatorial interpretation in terms of the affine Weyl group of type $A$. In particular, we define two statistics on affine permutations; one in terms of the Shi hyperplane arrangement, and one in terms of a new arrangement - which we call the Ish arrangement. We prove that our statistics are equivalent to the {\\sf area'} and {\\sf bounce} statistics of Haglund and Loehr. In this setting, we observe that {\\sf bounce} is naturally expressed as a statistic on the root lattice. We extend our statistics in two directions: to "extended" Shi arrangements and to the bounded chambers of these arrangements. This leads to a (conjectural) combinatorial interpretation for all integral powers of the Bergeron-Garsia nabla operator applied to the elementary symmetric functions.

  3. Universal Health Insurance in the Clinton Plan: Coverage as a Tax-Financed Public Good

    Pauly, Mark V

    1994-01-01

    The financing arrangements embodied in the Clinton health reform plan involve some important differences in the way in which public goods are usually financed. The subsidies to small, low-wage firms mandated to provide benefits distort markets in both labor and products, and offer incentives for the creation of small firms. In addition, the financing scheme implicitly envisions a head tax on families at modest income levels but offers a possible rationale for it. Nevertheless, the main reason...

  4. Financing for Gender Equality

    Kim, Jim Yong

    2015-01-01

    Remarks delivered by Jim Yong Kim, President of the World Bank Group. The Third International Conference on Financing for Development represents an important milestone in efforts to achieve universal and sustainable development as we move beyond 2015 and introduce a new set of Sustainable Development Goals. This event aims to mobilize high-level political support for financing gender equality and women’s...

  5. Financing - general considerations

    Various aspects of the problems of financing a multinational regional fuel cycle centre (RFCC) are briefly discussed. Some of the points covered are: financing by participants; floating long-term loans on capital markets outside the countries of the participants; and export credits for the purchase of equipment manufactured outside the countries of the participants

  6. Financing landfill gas projects

    The problems of financing landfill gas projects in the UK in the last few years are discussed. The approach of the author in setting up a company to finance such projects in the power generation field and a separate company to design and supply turnkey packages is reported. (UK)

  7. Caring finance practices

    I.P. van Staveren (Irene)

    2013-01-01

    textabstractThe 2008 financial crisis has demonstrated the failure of both utilitarian and deontological ethics in finance. Alternatives do not need to be created from nothing, because the crisis itself has stimulated the emergence of ethically sound finance practices from within the sector. This ar

  8. Finance Law Review

    Forth, Douglas S.

    1975-01-01

    Reviews recent state and federal court decisions dealing with issues relevant to educational finance. Within the area of elementary and secondary education, cases involve general school finance, state funding programs, employee negotiations, and business management. In the area of higher education, cases involve taxation, student fees,…

  9. Public Education Finances, 2005

    US Census Bureau, 2007

    2007-01-01

    The United States Census Bureau conducts an Annual Survey of Government Finances as authorized by law under Title 13, United States Code, Section 182. The 2005 survey, similar to other annual surveys and censuses of governments conducted for many years, covers the entire range of government finance activities--revenue, expenditure, debt, and…

  10. Public Education Finances, 2006

    US Census Bureau, 2008

    2008-01-01

    The United States Census Bureau conducts an Annual Survey of Government Finances as authorized by law under Title 13, United States Code, Section 182. The 2006 survey, similar to other annual surveys and censuses of governments conducted for many years, covers the entire range of government finance activities--revenue, expenditure, debt, and…

  11. Public Education Finances, 2008

    US Census Bureau, 2010

    2010-01-01

    The United States Census Bureau conducts an Annual Survey of Government Finances as authorized by law under Title 13, United States Code, Section 182. The 2008 survey, similar to other annual surveys and censuses of governments conducted for many years, covers the entire range of government finance activities--revenue, expenditure, debt, and…

  12. Public Education Finances, 2007

    US Census Bureau, 2009

    2009-01-01

    Every five years, the U.S. Census Bureau conducts a Census of Government Finance, as authorized by law under Title 13, U.S. Code, Section 182. The 2007 Census, similar to annual surveys and censuses of governments conducted for many years, covers the entire range of government finance activities--revenue, expenditure, debt, and assets (cash and…

  13. When Art & Finance Collide

    2011-01-01

    Fine art and big finance are proving a profitable combination in China but questions of authenticity need to be addressed CHINA’S art market is on fire.As sales and prices break records,a new force has appeared in the market - organized art finance in the form of art trust funds and artwork exchanges.

  14. Geothermal Financing Workbook

    Battocletti, E.C.

    1998-02-01

    This report was prepared to help small firm search for financing for geothermal energy projects. There are various financial and economics formulas. Costs of some small overseas geothermal power projects are shown. There is much discussion of possible sources of financing, especially for overseas projects. (DJE-2005)

  15. Financing CFM through REDD

    Skutsch, Margaret

    2008-01-01

    The Technology and Sustainable Development section of the Clean Technology and Environmental Policy Group, University of Twente, is working on a project financed by Netherlands Development Cooperation entitled “Kyoto: Think Global, Act Local” which will run from 2003 to 2009. The project is investigating the potential for carbon finance to support community forest management.

  16. Financing Canadian international operations

    A primer on financing international operations by Canadian corporations was provided. Factors affecting the availability to project finance (location, political risk), the various forms of financing (debt, equity, and combinations), the main sources of government backed financing to corporations (the International Finance Corporation) (IFC), the European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB), the Overseas Property Insurance Corporation (OPIC), government or agency guarantees, political risk coverage, the use of offshore financial centres, and the where, when and how these various organizations operate, were reviewed. Examples of all of the above, taken from the experiences of Canadian Occidental Petroleum of Calgary in the U.S., in South America, in the Middle and Far East, and in Kazakhstan, were used as illustrations. figs

  17. Debt Financing: Academia's Funding Alternative.

    Baum, Rudy M.

    1981-01-01

    Discusses debt financing as a way to help universities alleviate the problems of obsolete scientific equipment and facilities for research. Reviews several forms of tax-exempt financing and takes note of some of the advantages of debt financing. (CS)

  18. 48 CFR 832.202-4 - Security for Government financing.

    2010-10-01

    ... exposure to financial crisis, and credit arrangements. (d) A statement of the status of all State, local... for Government financing. An offeror's financial condition may be considered adequate security to... offeror's financial condition, the contracting officer may obtain, to the extent required, the...

  19. The Determinants of Debt Financing

    Zhao, Chenkai

    2013-01-01

    Debt financing is an important part in capital structure. Over the fifty years, most scholars and researchers focus primarily on the balance between debt financing and equity financing. And only few research involve in types of debt financing, as well as the determinant of debt financing. This study is aim to analyse the determinate of debt financing, which examine that the influence by eight different elements. This dissertation examined by quantitative techniques with 591 UK listed comp...

  20. Epineurium-mimicking chitosan conduits for peripheral nervous tissue engineering.

    Nawrotek, Katarzyna; Tylman, Michał; Rudnicka, Karolina; Gatkowska, Justyna; Wieczorek, Marek

    2016-11-01

    In this investigation, we report on a fabrication method of epineurium-mimicking tubular conduits based on electrodeposition from chitosan solution. The pre-enrichment of electrodeposition solution with hyaluronic acid and/or collagen components results in structures which structural, morphological, and physicochemical properties can be controlled. In order to determine the optimal composition of the initial chitosan solution resulting in conduits meeting the requirements imposed on peripheral nerve implants, we perform chemical, physical, and biological studies. Both the molecular weight of hyaluronic acid and the concentration of additives are found to be crucial for the final mechanical as well as biological performance of conduits. Because, the obtained structures show biocompatibility when contacting with a mouse hippocampal cell line (mHippoE-18), we further plan to test their application potential on an animal model. PMID:27516256

  1. Interactions of large amplitude solitary waves in viscous fluid conduits

    Lowman, Nicholas K; El, Gennady A

    2013-01-01

    The free interface separating an exterior, viscous fluid from an intrusive conduit of buoyant, less viscous fluid is known to support strongly nonlinear solitary waves due to a balance between viscosity-induced dispersion and buoyancy-induced nonlinearity. The overtaking, pairwise interaction of weakly nonlinear solitary waves has been classified theoretically for the Korteweg-de Vries equation and experimentally in the context of shallow water waves. We use numerical simulations and experimental observations to extend the classification scheme to the strongly nonlinear regime for viscous conduit solitary waves, where we identify three classes of nonlinear interaction behavior: purely bimodal, purely unimodal, and a mixed type. The magnitude of the dispersive radiation due to solitary wave interactions is quantified numerically and observed to be beyond the sensitivity of our experiments, suggesting that conduit solitary waves are approximately solitons. Experimental data are shown to be in excellent agreemen...

  2. Project financing in the energy sector: The Indonesian experience

    Past Indonesian experiences in arranging Project Financing or Limited Recourse Financing in the Energy Sector and the feasibility of such a structure for Nuclear Power Projects are reviewed in this paper. Many of the projects in the energy sector, including Nuclear Power Project are capital intensive projects. A single project may require an investment level of several billion dollars. Large capital investments of this nature may drastically limit the availability of funds from external sources used to finance other non-energy projects in a developing country such as Indonesia. Therefore, the financing concept of a project is becoming a paramount element in the policies adopted by the Republic of Indonesia. As an example, a non-recourse finance structure is the preference of the government for export oriented energy projects. The aim of the government financing policy for export oriented energy projects is to limit the recourse to the applicable Indonesian state enterprise (the project sponsor) by transferring to third parties as much of the project risks as possible. Most of the export oriented energy projects come close to achieving a non-recourse structure. Domestic oriented energy projects however, continue to be financed with a loan guarantee by the government or by state owned enterprises. In addition to maintaining fund availability from external sources for the non-energy sector, Indonesia's reported external debts as well as debt service ratios are other factors in considering a limited recourse financing structure for capital intensive projects. (author)

  3. Seychelles: 2010 Article IV Consultation and Second Review Under the Extended Arrangement, Request for Rephasing of Disbursements, and Financing Assurances Review-Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Seychelles

    International Monetary Fund

    2011-01-01

    Seychelles's strong stabilization efforts has helped the economy to overcome debt crisis and global recession under the Stand-By Arrangement (SBA). But the authorities need to address monetary policy trade-offs, and financial sector challenges exist. Executive Directors welcomed Seychelles's structural reform agenda, which aims at enhancing public financial and central bank management, strengthening competition and risk management, and reducing the role of the state in the financial system. D...

  4. Democratic Republic of the Congo; Second Review Under the Three-Year Arrangement Under the Extended Credit Facility and Financing Assurances Review—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Democratic Republic of the Congo

    International Monetary Fund

    2011-01-01

    The IMF’s Executive Board completed the first review under the Extended Credit Facility (ECF) arrangement in June 2010 and decided that the Democratic Republic of Congo (DRC) had reached the completion point under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. In 2010, an improvement in global economic conditions supported strong macroeconomic performance; however, weaknesses in the financial sector were also exposed. The authorities recognized the importance of strengtheni...

  5. Determinants of flexible work arrangements

    Sarbu, Miruna

    2014-01-01

    Flexible work arrangements such as allowing employees to work at home are used in firms, especially since information and communication technologies have become so widespread. Using individual-level data from 10,884 German employees, this paper analyses the determinants of working at home as a form of flexible work arrangements. The analysis is based on descriptive analyses and a discrete choice model using a probit estimation approach. The results reveal that men have a higher...

  6. Innovative M and A financing structures

    The structuring and financing of mergers and acquisitions (M and A) is one of the most critical elements of a takeover process, given that Canadian securities law requires that any takeover must be 'fully financed'. It follows therefore, that in order to comply with securities laws, the financing for a takeover must be arranged in advance of making such a bid. This paper describes the structuring of an offer, outlines the sources of M and A financing, including a review of the 'full capital solution', reviews the key forces influencing the financial structuring of takeover bids, and provides examples of recent M and A transactions in the oil and gas resources sectors. Case histories of two recent mergers and acquisitions, one involving Sun Media Corporation and Rogers Communication Inc., the other John Labatt Limited and the Onex Corporation, were reviewed in detail. The importance of proper structuring of the offer for the specific target's shareholders, as well as for future business operations was stressed

  7. Financing Bologna Students’ Mobility

    Gérard, Marcel

    2011-01-01

    The current system for financing cross-border students, based on the host country, is neither sustainable nor efficient: it produces too little cross-border education. On that background, and motivate as well by a recent decision of the European Court of Justice, we explore two alternative solutions. The first one substitutes to the financing by the host country, a financing by the country of origin, through vouchers that the student may use at home or abroad provided it is in a recognized in...

  8. Financing Bologna Students’ Mobility

    Gérard, Marcel; Sixth Workshop on Public Policy Design: Education

    2010-01-01

    The current system for financing cross-border students, based on the host country, is neither sustainable nor efficient: it produces too little cross-border education. On that background, and motivate as well by a recent decision of the European Court of Justice, we explore two alternative solutions. The first one substitutes to the financing by the host country, a financing by the country of origin, through vouchers that the student may use at home or abroad provided it is in a recognized in...

  9. FINANCING SME FUTURE DEVELOPMENT

    Viorica CERBUSCA

    2015-01-01

    The paper highlights the problems faced by the SMEs in accessing adequate financing as one of the most significant barriers of the sector. Financial access is critical for SMEs’ growth and development. At the same time, the author emphasize that there is no unique way of financing SMEs. The need depends on the stage of maturity and size of the enterprise. In order to facilitate the SME access to finance it is necessary to adapt the best international practices and to adapt them at the ...

  10. Financing Sustainable Development

    Fejerskov, Adam Moe; Funder, Mikkel; Engberg-Pedersen, Lars;

    aid budgets or divert them to meet refugee and migration issues. In this context of massive global ambition and concurrent uncertainty on the future of aid, other actors and sources of development financing seem ever more critical, such as the private sector, private foundations and the BRICS....... But what are in fact the interests and modes of operation of such actors in the context of development financing, and to what extent do they align with the aims of the SDGs? And how do national governments of developing countries themselves perceive and approach these new sources of financing?...

  11. The Finance Curse

    Christensen, John; Shaxson, Nick; Wigan, Duncan

    2016-01-01

    The Global Financial Crisis placed the utility of financial services in question. The crash, great recession, wealth transfers from public to private, austerity and growing inequality cast doubt on the idea that finance is a boon to the host economy. This article systematizes these doubts......, economic instability, inequality, conflict, rent-seeking and corruption. The Finance Curse produces similar effects, often for similar reasons. Beyond a point, a growing financial sector can do more harm than good. Unlike the Resource Curse, these harms transcend borders. The concept of a Finance Curse...

  12. ARRANGING THE INDEX OF CORPORATE GOVERNANCE

    Surifah -

    2010-03-01

    Full Text Available Tujuan dari penelitian ini adalah untuk menyusun indeks yang dapat menilai pelaksanaan tata kelola perusahaan seperti yang tertulis dalam laporan tahunan. Hal ini disebut indeks pengungkapan tata kelola perusahaan. Pengaturan indeks didasarkan pada pedoman operasional tata kelola perusahaan yang baik (KNKG, 2006, literatur pada pemerintahan, hasil penelitian, dan undang-undang resmi tentang tata kelola perusahaan. Ada dua kelompok sampel. Kelompok sampel yang pertama telah dinilai oleh penilai tata kelola perusahaan dan kelompok sampel kedua belum dinilai. Nilai t-test membuktikan perbedaan yang signifikan antara kedua kelompok sampel. Ini berarti bahwa hasil dengan menggunakan indeks ini, mirip dengan hasil penilaian oleh The Indonesian Institute for Corporate Governance (IICG dalam operasi tata kelola perusahaan. Hal ini juga membuktikan bahwa indeks pengungkapan tata kelola perusahaan dalam penelitian ini mampu menjadi proksi corporate governance di luar jangkauan perusahaan bank, asuransi, dan perusahaan pembiayaan di Indonesia. The objective of the research is to arrange an index which is able to assess the implementation of corporate governance as written in the annual report, which is called disclosure index of corporate governance. Arranging Index is based on operational guidelines of good corporate governance (KNKG, 2006, literatures on governance, research results, and official laws on corporate governance. There are two groups of samples. The first one has been assessed by corporate governance assessor and the second one has not been assessed yet. The t-test score proves significant difference between the two groups of samples. It means that the result by using the index is similar to the assessment result by IICG in corporate governance operation. It also proves that the disclosure index of corporate governance in the research is able to be corporate governance proxy in companies beyond bank, insurance and finance companies in

  13. Treasure Island revisited. Jersey's offshore finance centre crisis: implications for other small island economies

    M P Hampton; J E Christensen

    1999-01-01

    Jersey appears to be a successful offshore finance centre (OFC) with high levels of gross domestic product per capita. The OFC is the largest contributor to Jersey's tax revenue, and accounts for about 20% of local employment. Jersey has become a major OFC in a global industry and is a conduit for sizeable capital flows. However, an unparalleled crisis in 1996 generated international media interest. The crisis involved three separate but related issues: a US $26 million fraud; the fast-tracki...

  14. Financing Professional Sports Facilities

    Baade, Robert A.; Victor A. Matheson

    2011-01-01

    This paper examines public financing of professional sports facilities with a focus on both early and recent developments in taxpayer subsidization of spectator sports. The paper explores both the magnitude and the sources of public funding for professional sports facilities.

  15. To finance the transition

    A set of brief articles illustrates the emergence of innovating and operational financing tools aimed at supporting energy transition in France and in Europe. As far as France is concerned, different examples are evoked: raising local savings, crowd-funding for renewable energies, citizen investment, cooperation between industries, communities and citizens, a semi-public company with citizen participation, the case of the Nancy urban community, a joint experience by a local public company and an investment fund. As far as Europe is concerned, the following topics or examples are evoked: local policies as lever for European financing, the Danish example of citizen-based financing, crowd-funding in the UK, the European emergence of cooperatives. As far as banks and institutions are concerned, the following topics are addressed: tools implemented by the Caisse des Depots for energy transition, the roles of banks and of public institutions in the financing of energy transition

  16. FINANCING SME FUTURE DEVELOPMENT

    Viorica CERBUSCA

    2015-04-01

    Full Text Available The paper highlights the problems faced by the SMEs in accessing adequate financing as one of the most significant barriers of the sector. Financial access is critical for SMEs’ growth and development. At the same time, the author emphasize that there is no unique way of financing SMEs. The need depends on the stage of maturity and size of the enterprise. In order to facilitate the SME access to finance it is necessary to adapt the best international practices and to adapt them at the local condition. Article aims to present microfinancing as a tool that could improve the SME access to finance, thus contributing to the economic development of the country by creating new jobs, new products and services

  17. Personal Finance Calculations.

    Argo, Mark

    1982-01-01

    Contains explanations and examples of mathematical calculations for a secondary level course on personal finance. How to calculate total monetary cost of an item, monthly payments, different types of interest, annual percentage rates, and unit pricing is explained. (RM)

  18. Introduction to Islamic finance

    Umar F. Moghul; Murtha Cullina

    2006-01-01

    An increasing number of individuals and banks have become curious about Islamic finance and how it is conducted in America. The author provides helpful background and tells where services can be found in New England.

  19. Export development financing

    The main activities of the Export Development Corporation (EDC) were described, as well as some of the changes currently being implemented. EDC is Canada's official export credit agency, providing risk management services such as insurance, loans, guarantees, equity and leasing. EDC's project finance initiative started in 1991, and focused mainly on the up-front process. It has established itself as a recognized leader in project financing. It has over 15 years experience in a variety of sectors and countries. Energy projects financed to date include hydro projects in India, Argentina and Pakistan, and thermal projects in Thailand, China, Indonesia and Egypt. Lending criteria used to select projects were outlined, along with the risks endemic to project financing

  20. PUBLIC FINANCE FUNCTIONS

    VEZURE OANA SABINA

    2011-09-01

    Full Text Available The emergence of public finances is due to objective causes needs and determined their main function being to obtain the financial resources it needs for the State to exercise its powers and on the way to intervene in the economy and society general. Public finances are necessary, subjectively and objectively, as it contributes to accomplishing the tasks and functions of the state, which could not be realized without financial leverage. Public finances are inextricably linked to the existence of the state, and public sector's role in the economy. Thus, they express "social relations, economic arising in the establishment and use of public funds between the state, on the one hand, and members of society on the other hand, to meet the needs of general interest of society" [1]. Thus, the role of public finance is to meet the needs of general interest or collective needs.

  1. FINANCING INNOVATION IN ROMANIA

    SORIN SERBAN

    2012-05-01

    Full Text Available This article based on an examination of empirical literature, analyses the financing of innovative enterprises in Romania and presents the characteristics of Romanian policies in this regard. It sets forth an estimation of the number of innovative enterprises in Romania based on figures from different sources. Assessing the role of financial restrictions on innovation reveals that a firm is facing obstacles to finance its innovative activities but also other difficulties to innovate which appears to be enhanced. This article also puts forward the role of different financing actors and instruments at different stages of the firm's life cycle and emphasizes the function of proximity capital in filling the gap between supply and demand of financing. Finally a framework for policy is recommended.

  2. What can behavioural finance teach us about finance?

    Werner DeBondt; William Forbes; Paul Hamalainen; Yaz Gulnur Muradoglu

    2010-01-01

    Purpose – The paper draws on the key themes raised at a Round Table discussion on behavioural finance attended by academics and practitioners. The paper provides a background to the key aims of behavioural finance research and the development of the discipline over time. The purpose of this paper is to indicate some future research issues on behavioural finance that emanate from the financial crisis and highlight areas of mutual benefit to both behavioural finance academics and the finance in...

  3. Essays in History & Finance

    D'ACUNTO, FRANCESCO

    2015-01-01

    To which extent may history help us understand current financial outcomes? FinancialHistory typically tests for financial theories using historical data, or studies past financialoutcomes to understand the present through analogy. This dissertation focuses on an alternative approach to the use of history in finance, which I label "History & Finance." This approach exploits facts and institutions of the past, and the persistence of the economic and social phenomena they determine, to directly...

  4. SME financing in China

    Chen Xiang Liu

    2007-01-01

    SMEs have a great contribution in China’s economic expansion. However, the financing predicament currently faced by SMEs constitutes a great bottleneck for their development. Banks are reluctant to lend to them, mainly due to the lack of collateral and their poor capability in pricing risk. This is the reason why credit guarantee institutions play a key role in SME financing and the perfection of the credit guarantee system is important for promoting their access to credit. In addition, the l...

  5. Qualitative research in finance

    Dan Kaczynski; Michelle Salmona; Tom Smith

    2014-01-01

    This paper provides an overview of qualitative research to encourage finance researchers to apply a more diverse approach to current research practices. Social science researchers recognize that research questions should determine what research paradigm is best for each study. Imagine the benefits to finance if we expand our empirical sources of data to include what people have to say, which then allows us to explore the complex reasoning behind these conversations. It is the intent of this p...

  6. Financing Water in Africa

    Bayliss, Kate

    2013-01-01

    Despite repeated policy initiatives from donors and governments, the human and economic cost of continued lack of access to safe water and sanitation in sub-Saharan Africa remains high. Progress is in large part constrained by a persistent ‘financing gap’. This paper shows that a radical reorientation of policy is needed to achieve a significant increase in investment finance in order to raise access levels. Rather than continuing to pursue policies that have failed for the past two decades, ...

  7. International Macro-Finance

    Pavlova, Anna; Rigobon, Roberto

    2011-01-01

    International macro-finance is a new area of open economy macroeconomics that brings portfolio choice and asset pricing considerations into models of international macroeconomics. The importance of these considerations--typically relegated to Finance and largely overlooked in traditional macroeconomics--for the international macroeconomy have been underscored by a series of recent financial crises and by unprecedented global imbalances. In this paper, we survey recent developments in this are...

  8. Financing Biodiversity Conservation

    Ricardo Bayón; J. Steven Lovink; Wouter J. Veening

    2000-01-01

    Financing the conservation and sustainable use of biodiversity has been called one of the greatest challenges. At the heart of this challenge lies the low financial and political value which is often assigned to biodiversity and the resulting lack of financial mechanisms for conservation and sustainable use. This report provides an overview of existing and experimental financing mechanisms that can be used to encourage the conservation and sustainable use of biodiversity. To help to better un...

  9. Biomechanical properties of decellularized porcine pulmonary valve conduits.

    Seebacher, Gernot; Grasl, Christian; Stoiber, Martin; Rieder, Erwin; Kasimir, Marie-Theres; Dunkler, Daniela; Simon, Paul; Weigel, Günter; Schima, Heinrich

    2008-01-01

    Tissue-engineered heart valves constructed from a xenogeneic or allogeneic decellularized matrix might overcome the disadvantages of current heart valve substitutes. One major necessity besides effective decellularization is to preserve the biomechanical properties of the valve. Native and decellularized porcine pulmonary heart valve conduits (PPVCs) (with [n = 10] or without [n = 10] cryopreservation) were compared to cryopreserved human pulmonary valve conduits (n = 7). Samples of the conduit were measured for wall thickness and underwent tensile tests. Elongation measurement was performed with a video extensometer. Decellularized PPVC showed a higher failure force both in longitudinal (+73%; P < 0.01) and transverse (+66%; P < 0.001) direction compared to human homografts. Failure force of the tissue after cryopreservation was still higher in the porcine group (longitudinal: +106%, P < 0.01; transverse: +58%, P < 0.001). In comparison to human homografts, both decellularized and decellularized cryopreserved porcine conduits showed a higher extensibility in longitudinal (decellularized: +61%, P < 0.001; decellularized + cryopreserved: +51%, P < 0.01) and transverse (decellularized: +126%, P < 0.001; decellularized + cryopreserved: +118%, P < 0.001) direction. Again, cryopreservation did not influence the biomechanical properties of the decellularized porcine matrix. PMID:18181800

  10. Exploring Higher Education Financing Options

    Nkrumah-Young, Kofi K.; Powell, Philip

    2011-01-01

    Higher education can be financed privately, financed by governments, or shared. Given that the benefits of education accrue to the individual and the state, many governments opt for shared financing. This article examines the underpinnings of different options for financing higher education and develops a model to compare conditions to choices and…

  11. Financing energy projects in Africa

    Contains Executive Summary and Chapters on: Overview of financing trends in Africa; Multilateral support - Bedrock of Africa's first generation energy projects; ECA insurance and financing; Bilateral development finance; Offshore commercial bank lending; Local commercial bank finance; Capital markets; Legal ramifications ; Risk factors; Conclusions. (Author)

  12. International energy financing

    Some of the innovative financing options being considered by developing countries and economies in transition as ways of mobilizing international energy financing are discussed. Build-Own-Operate (BOO) and Transfer (BOOT) is the most commonly adopted approach. This involves limited resource financing of a project on the basis of the associated cash flow and risks and not on the credit of the project owners. The World Bank has set up the Multilateral Investment Guarantee Agency to provide, on a fee basis, guarantees against certain non-commercial forms of risk in order to promote international capital flow to developing countries. In 1989, the World Bank introduced the Expanded Co-financing Operations (ECO) programme as an instrument to catalyze the flow of private finance into developing countries and to improve their access to international financial markets. Other financial instruments currently being established include: leasing of equipment or whole plants by foreign investors; private ownership or operation of generation and distribution facilities; exchange of specific export goods for energy imports; developing instruments to finance local costs; revenue bonds; tax-exempt bonds; sale of electricity futures to those seeking more stable, longer term electricity price contracts. (UK)

  13. Arranged marriages annulled by law.

    Zhu, H

    1996-06-01

    The arranged marriages of 210 young people in Yongle Town in Zunyi County of Guizhou Province were dissolved in 1995. The proportion of child betrothals, which generally happens among close relatives, is as high as 85% in the town. Some engagements, known as fetus betrothals or belt betrothals, are arranged before the children are born or while they are still infants strapped (belted) to their mothers. Dissemination of information from the Constitution, the Marriage Law, and the Regulations on the Registration of Marriage concerning marriage, healthier births, and good upbringing of children, and other information on reproductive health, has shown young people that they have the freedom to love and marry of their own free will, that their marriage is protected by law, and that consanguineous marriage is harmful to the health of future generations. Some convinced their parents that their arranged marriages should be annulled. PMID:12291696

  14. Transitional arrangements for ITER started

    Negotiations by the ITER Parties on the Agreement on the Establishment of the International Fusion Energy Organization for the Joint Implementation of the ITER Project (ITER Implementation Agreement, or simply 'the Agreement') and on the site selection for construction of the ITER machine are making good progress. Therefore, the ITER Parties decided that subsequent to the ITER Co-ordinated Technical Activities (CTA), the Transitional Arrangements for ITER (ITA or 'the Arrangements') will start on 1 January 2003, conducted under the auspices of the IAEA, and will terminate upon the entry into force of the Agreement, or at such earlier date as the Participants may decide. The Parties to the ITER Engineering Design Activities and the participants in the Negotiations on the ITER Joint Implementation wishing to co-operate in the ITER Transitional Arrangements will be the ITA Participants ('the Participants'). All four current ITER Parties, namely Canada, the European Union, Japan, and the Russian Federation confirmed, before the end of 2002, in their letters to the IAEA Director General their intention to participate in the ITA. The Arrangements are also open to new Participants acceding the Negotiations. The purpose of the ITA is to prepare for an efficient start of the Agreement, if and when so decided, and to maintain the integrity of the ITER Project. The overall direction of the Arrangements, as well as the supervision of their implementation will be exercised by the ITER Preparatory Committee ('the Committee'). It will be composed of two members from each Participant to the Arrangements. In exercising its functions, the Committee shall work for a smooth transition towards the organization and structure for ITER construction being developed in the frame of the ITER Negotiations. The first meeting of the Committee is scheduled for St. Petersburg, RF, on 17 February 2003

  15. AC loss characteristics of simulated CIC-type conductors having plastic conduit

    When alternating current superconducting coils having cable-in-conduit conductors are fabricated, non-metallic conduit materials are necessary to avoid eddy current losses in the conduits. Using two kinds of non-metallic tapes made of glass fiber reinforced plastics (GFRPs) and Dyneema fiber reinforced plastics (DFRPs), we made the conductors with the GFRP conduits and DFRP conduits, and experimentally studied the total losses of the conductors. The measured results showed that the total loss of the conductor with the GFRP conduit was smaller than that with the DFRP conduit at the same value of the void ratio, the transport current, the external magnetic field, and so on. When the void ratios become high, the superconducting bundle cable can easily move in the conduit. Hence the measured total losses increased with the void ratios of the conductors

  16. Hyperplane Arrangements and Diagonal Harmonics

    Armstrong, Drew

    2011-01-01

    En 2003, la statistique bounce de Haglund a donné la première interprétation combinatoire de la somme des nombres q,t-Catalan et de la série de Hilbert des harmoniques diagonaux. Dans cet article nous proposons une nouvelle interprétation combinatoire à partir du groupe de Weyl affine de type A. En particulier, nous définissons deux statistiques sur les permutations affines; l'une à partir de l'arrangement d'hyperplans Shi, et l'autre à partir d'un nouvel arrangement — que nous appelons l'arr...

  17. Patient positioning and supporting arrangement

    This patent specification describes an E.M.I. claim relating to a patient positioning and support arrangement for a computerised axial tomography system, the arrangement comprising a curved platter upon which the patient can be disposed, a table having a curved groove to accommodate the platter, and means for driving the platter slidably along the groove; the platter being formed of a substantially rigid platform shaped to conform to the groove, and a shroud, secured to the platter and disposed between the platter and the surface of the groove, so as to permit the platter to slide smoothly. (U.K.)

  18. Financing responsibility for nuclear waste disposal

    The basic premise for financing arrangements for the disposal of nuclear waste is that the nuclear industry - not the taxpayer - must bear the costs. Present regulations, however, are imperfect in this regard. The Inquiry therefore proposes extending the financial liability of the nuclear industry and introducing new fee-setting arrangements. It is proposed that a new law be enacted to regulate these changes. The present financing system is regulated in the 'Financing Act' 1. Under this Act, the licensed owner and operator of a nuclear reactor is required to pay an annual fee and provide guarantees to the State. Four companies are reactor owners. These companies are wholly or partly owned by other companies according to various arrangements. Each reactor owner is responsible for its own dismantling costs and for its share of allocated common costs of disposal and related measures. If there is insufficient money in the funds, the nuclear industry will still be liable. The basic premise of the Inquiry is that the financing system should be designed so as to minimise the risk that the State (and taxpayers) will need to step in and pay. Although the nuclear industry is intended to have full liability for payment, in practice it does not. This is because the formal full liability for payment in the nuclear industry rests with the reactor companies and not where the industry's long-term ability to pay is to be found. Essentially, the present arrangements mean that: - Companies that cannot be expected to have any long-term ability to pay have unlimited liability, and - Companies that can be expected to have an ability to pay have very limited liability. The Inquiry therefore proposes that ability to pay and liability are brought into line by a formal assumption by owning companies of the sort of liability for payment that now rests solely with the reactor companies. This means that the owning company in each group that is best suited to bear the liability for payment

  19. Cryovolcanic Conduit Evolution and Eruption on Icy Satellites

    Mitchell, K. L.

    2014-12-01

    In silicate volcanism, such as on Earth or Io, eruptions typically result from fracture formation caused by interaction of tectonic stresses with inflating, pressurized magma sources, leading to transport of melt through an evolving conduit. On icy satellites the paradigm may be similar, resulting from some combination of tidal stresses and expansion of freezing water within, or near the base of, an ice shell. Such a fracture will result in eruption if mass continuity can be established, with buoyancy aided by exsolution and expansion of dissolved volatiles. After onset, conduit shape evolves due to: (1) shear-stresses or frictional erosional; (2) wallrock "bursting" due to massive wall stresses; (3) wall melting or condensation of particles due to heat transfer; or (4) changes in applied stresses. Preliminary thermodynamic and fluid mechanical analysis suggests some initial cooling during ascent resulting from exsolution and expansion of volatiles, thermally buffered by freezing, Conduit contraction may occur, and so evolution towards a deep, gas-filled plume chamber is difficult to accommodate without evoking a co-incidental process. Conduit flaring occurs near the surface where velocities are greatest, enhancing erosion. Here, viscous dissipative heating exceeds adiabatic cooling, and so some boiling (a few wt%) may occur. In contrast with silicate volcanism, decompression to below the triple point will occur within conduit, vent or jet, resulting in rapid freezing and boiling of the remaining water at a 6.8:1 ratio. Subsequent isentropic or adiabatic expansion within erupting jets may result in a few percent net of condensation or sublimation. These effects combined lead to ~4:1-7:1 solid:vapor ratios in the jet for most eruption conditions. These figures are consistent with the ~6:1 inferred in Enceladus' jets, supporting the hypothesis that the Enceladus plume draws from a subsurface body of liquids through a conduit. Similar results are anticipated if

  20. Experimental Research on Differentiation-Inducing Growth of Nerve Lateral Bud by HUC-MSCs Chitosan Composite Conduit.

    Xiao, Qiang; Zhang, Xuepu; Wu, Yuexin

    2015-11-01

    This study is intended to explore the role of human umbilical-cord-derived mesenchymal stem cells (HUC-MSCs) in nerve end-to-side anastomosis, as well as in the induction and promotion of growth of nerve lateral bud. The chitosan nerve conduit was prepared based on the biological characteristics of chitosan, and the nerve conduit was filled with HUC-MSCs, and was used to bridge the nerve end-to-side anastomotic stoma. The experimental animals were randomly assigned into three groups (10 in each group), and the nerve end-to-side anastomosis was conducted: (1) group A (control group): traditional tibial nerve-common peroneal nerve end-to-side anastomosis; (2) group B (experimental group 1): tibial nerve-common peroneal nerve end-to-side anastomotic stoma bridged with chitosan nerve conduit; (3) group C (experimental group 2): tibial nerve-common peroneal nerve end-to-side anastomotic stoma bridged by chitosan nerve conduit filled with HUC-MSCs. General morphological observation, nerve electrophysiology, and anti-S-100 immunohistochemistry were performed. All experimental animals survived, and no infections were found at operative incisions. The nerve continuity was in good condition through visual observation when sampling, which is mild adhesion to the surrounding tissue and easy to be separated. 12 W HUC-MSCs chitosan composite nerve conduits were degraded completely after operation. Electrophysiological test showed that the nerve conduction velocity (NCV) in group C was significantly higher than that in group A or group B (p myelin sheath thickness in group C were larger than those in group A or B. There were no significant differences between the numbers of the medullated fibers and between the myelin sheath thicknesses of groups A and B. By means of anti-S-100 immunohistochemistry, the arrangement of a large number of brown-red proliferating schwann cells around the regenerated nerve fibers in group C could be found, while fewer and sparse brown-red matters

  1. Financing and insurance problems

    The author analyses the papers presented at the Paris Conference on the maturity of nuclear energy. It is evident that financing possibilities will be a determinant factor in the rate of development of nuclear power during the years to come. After having evaluated the capital requirements necessitated for the development of nuclear programmes, the parties intervening have examined the means at the disposal of electricity manufacturers to meet these needs (self-financing, recourse to external financing, regrouping, on an international scale of the electricity manufacturers of the setting up of high capacity plants). As concerns the insurance problems, they are becoming more and more involved as nuclear applications, are further diversified and intensified. The parties intervening have discussed new tarification techniques likely to be applied and pointed out the possibilities offered by regrouping or pooling of insurers (Market Pool) which allow for a maximum of risks to be covered without exceeding the means proper to each company concerned

  2. Single-friction-surface triboelectric generator with human body conduit

    We present a transparent single-friction-surface triboelectric generator (STEG) employing human body as the conduit, making the applications of STEG in portable electronics much more practical and leading to a significant output improvement. The STEG with micro-patterned polydimethylsiloxane surface achieved an output voltage of over 200 V with a current density of 4.7 μA/cm2. With human body conduit, the output current increased by 39% and the amount of charge that transferred increased by 34% compared to the results with grounded electrode. A larger increment of 210% and 81% was obtained in the case of STEG with a large-size flat polyethylene terephthalate surface

  3. Single-friction-surface triboelectric generator with human body conduit

    Meng, Bo; Cheng, Xiaoliang; Zhang, Xiaosheng; Han, Mengdi; Liu, Wen; Zhang, Haixia, E-mail: zhang-alice@pku.edu.cn [National Key Lab of Nano/Micro Fabrication Technology, Peking University, Beijing 100871 (China)

    2014-03-10

    We present a transparent single-friction-surface triboelectric generator (STEG) employing human body as the conduit, making the applications of STEG in portable electronics much more practical and leading to a significant output improvement. The STEG with micro-patterned polydimethylsiloxane surface achieved an output voltage of over 200 V with a current density of 4.7 μA/cm{sup 2}. With human body conduit, the output current increased by 39% and the amount of charge that transferred increased by 34% compared to the results with grounded electrode. A larger increment of 210% and 81% was obtained in the case of STEG with a large-size flat polyethylene terephthalate surface.

  4. Whither Multilateral Development Finance?

    Wihtol, Robert

    2014-01-01

    Multilateral development finance is at a critical juncture. In the past 70 years, it has developed through four distinct stages. The Bretton Woods conference established the World Bank and the International Monetary Fund in 1944 to finance post-war reconstruction and stabilize the global economy. The second stage saw the establishment of regional development banks in the 1950s and 1960s. This was followed by the emergence of subregional banks. In the fourth stage, from the mid-1970s to the 20...

  5. Rethinking SMEs’ Financing Predicament

    2009-01-01

    A waveofsharpcriticism has been aimed atthebanks concerning the difficulties for China’ss mallandmedium-sized enterprises(SMEs)in acquiring financing,whilethe Central Government began to strongly urge banks to provide loans for SMEs.Shouldall SMEs be financed while the bankst ake theblame?Is there anyother viable way to pull SMEs outof the financial predicament?Qiu Haiping,a professor with the School of Economics at Renmin University of China,recentlye xamined the issue and offered insights in the Guangming Daily.Edited excerpts follow

  6. Guidebook to Geothermal Finance

    Salmon, J. P.; Meurice, J.; Wobus, N.; Stern, F.; Duaime, M.

    2011-03-01

    This guidebook is intended to facilitate further investment in conventional geothermal projects in the United States. It includes a brief primer on geothermal technology and the most relevant policies related to geothermal project development. The trends in geothermal project finance are the focus of this tool, relying heavily on interviews with leaders in the field of geothermal project finance. Using the information provided, developers and investors may innovate in new ways, developing partnerships that match investors' risk tolerance with the capital requirements of geothermal projects in this dynamic and evolving marketplace.

  7. Impulsive Wave Propagation within Magmatic Conduits with Axial Symmetry

    De Negri Leiva, R. S.; Arciniega-Ceballos, A.; Scheu, B.; Dingwell, D. B.; Sanchez-Sesma, F. J.

    2013-12-01

    We implemented Trefftz's method to simulate wave propagation in a fluid-solid system aimed to represent a magmatic conduit. Assuming axial symmetry, a set of multipoles is used to build a complete system of wave functions for both the solid and the fluid. These functions are solutions of the elastodynamic equations that govern the motions in the fluid and the solid, respectively. The conduit can be closed or open and the exterior elastic domain may be unlimited or with an exterior boundary. In order to find the functions coefficients, boundary conditions (null shear and continuity of pressures and normal velocities) are satisfied in the least squares sense. The impulsive nature of the source is considered using Fourier analysis. Despite the simplicity of the formulation our results display a rich variety of behaviors. In fact, for a uniform infinite cylinder we reproduced the analytical solution. Moreover, this approach allows establishing some important effects of conduit geometry, including changes of sections. Lateral effects and bump resonances are well resolved. We compared our numerical calculations with results obtained from experimental simulations of volcanic explosions in which rapid depressurization induces fragmentation of volcanic rocks. These experiments are performed within a shock-tube apparatus at room temperature and various pressures using Argon (Ar) gas, particles and pumice samples of different porosities, from Popocatepetl volcano. The mechanical system is well characterized and the dynamics of the explosive process is monitored with high precision piezoelectric sensors located at the pipe surface. The combination of analytical and experimental approaches is very useful to understand the seismic wave field of volcanic conduit dynamics.

  8. Studies on forced convection nanofluid flow in circular conduits

    Harikrishna Vishwanadula; Emmanuel C. Nsofor

    2012-01-01

    An experimental system was developed and used to study the nanofluid flow and heat transfer in circular conduits. Experiments were performed for a variety of nanofluid flow features in the system. Results obtained from the study show that the heat transfer rate for flow of the base fluid is less than that of the nanofluid used in the study. It was also found that the observed relationship between molecular diffusivity of momentum and the molecular diffusivity of thermal energy at the macrosca...

  9. Reduced vibration motor winding arrangement

    Slavik, Charles J. (Rexford, NY); Rhudy, Ralph G. (Scotia, NY); Bushman, Ralph E. (Lathem, NY)

    1997-01-01

    An individual phase winding arrangement having a sixty electrical degree phase belt width for use with a three phase motor armature includes a delta connected phase winding portion and a wye connected phase winding portion. Both the delta and wye connected phase winding portions have a thirty electrical degree phase belt width. The delta and wye connected phase winding portions are each formed from a preselected number of individual coils each formed, in turn, from an unequal number of electrical conductor turns in the approximate ratio of .sqroot.3. The individual coils of the delta and wye connected phase winding portions may either be connected in series or parallel. This arrangement provides an armature winding for a three phase motor which retains the benefits of the widely known and utilized thirty degree phase belt concept, including improved mmf waveform and fundamental distribution factor, with consequent reduced vibrations and improved efficiency.

  10. MUSICAL ARRANGEMENT OF MEDIA ADS

    Chernyshov Alexander V.

    2015-01-01

    The music-compositional principles of commercial and political advertising and also the self-promotion of electronic media (radio, television, Internet) are considered in this mediatext: from the elementary beeps, symbolic functions, emblems/logos and musical brands to the sound engineering technology to underscore the product's name and the complex synthesis between music and intra movements and color-light design of frames. Simultaneously examines, how the musical arrangement of ethereal ad...

  11. X-ray tube arrangements

    A technique for ensuring the rapid correction of both amplitude and offset errors in the deflectional movement of an electron beam along an X-ray emissive target is described. The movement is monitored at at least two positions during a sweep and differences, between the two movements and a desired movement, at these positions are combined in different proportions to produce a corrective servo signal. Such arrangements find application, for example, in computerised tomographic scanners. (author)

  12. Methods of measuring pumpage through closed-conduit irrigation systems

    Kjelstrom, L.C.

    1991-01-01

    Methods of measuring volumes of water withdrawn from the Snake River and its tributaries and pumped through closed-conduit irrigation systems were needed for equitable management of and resolution of conflicts over water use. On the basis of evaluations and field tests by researchers from the University of Idaho, Water Resources Research Institute, Moscow, Idaho, an impeller meter was selected to monitor pumpage through closed-conduit systems. In 1988, impeller meters were installed at 20 pumping stations along the Snake River between the Upper Salmon Falls and C.J. Strike Dams. Impeller-derived pumpage data were adjusted if they differed substantially from ultrasonic flow-meter- or current-meter-derived values. Comparisons of pumpage data obtained by ultrasonic flow-meter and current-meter measurements indicated that the ultrasonic flow meter was a reliable means to check operation of impeller meters. The equipment generally performed satisfactorily, and reliable pumpage data could be obtained using impeller meters in closed-conduit irrigation systems. Many pumping stations that divert water from the Snake River for irrigation remain unmeasured; however, regression analyses indicate that total pumpage can be reasonably estimated on the basis of electrical power consumption data, an approximation of total head at a pumping station, and a derived coefficient.

  13. Peripheral nerve regeneration with conduits: use of vein tubes

    Rodrigo Guerra Sabongi

    2015-01-01

    Full Text Available Treatment of peripheral nerve injuries remains a challenge to modern medicine due to the complexity of the neurobiological nerve regenerating process. There is a greater challenge when the transected nerve ends are not amenable to primary end-to-end tensionless neurorraphy. When facing a segmental nerve defect, great effort has been made to develop an alternative to the autologous nerve graft in order to circumvent morbidity at donor site, such as neuroma formation, scarring and permanent loss of function. Tubolization techniques have been developed to bridge nerve gaps and have been extensively studied in numerous experimental and clinical trials. The use of a conduit intends to act as a vehicle for moderation and modulation of the cellular and molecular ambience for nerve regeneration. Among several conduits, vein tubes were validated for clinical application with improving outcomes over the years. This article aims to address the investigation and treatment of segmental nerve injury and draw the current panorama on the use of vein tubes as an autogenous nerve conduit.

  14. Parastomal hernias after radical cystectomy and ileal conduit diversion.

    Donahue, Timothy F; Bochner, Bernard H

    2016-07-01

    Parastomal hernia, defined as an "incisional hernia related to an abdominal wall stoma", is a frequent complication after conduit urinary diversion that can negatively impact quality of life and present a clinically significant problem for many patients. Parastomal hernia (PH) rates may be as high as 65% and while many patients are asymptomatic, in some series up to 30% of patients require surgical intervention due to pain, leakage, ostomy appliance problems, urinary obstruction, and rarely bowel obstruction or strangulation. Local tissue repair, stoma relocation, and mesh repairs have been performed to correct PH, however, long-term results have been disappointing with recurrence rates of 30%-76% reported after these techniques. Due to high recurrence rates and the potential morbidity of PH repair, efforts have been made to prevent PH development at the time of the initial surgery. Randomized trials of circumstomal prophylactic mesh placement at the time of colostomy and ileostomy stoma formation have shown significant reductions in PH rates with acceptably low complication profiles. We have placed prophylactic mesh at the time of ileal conduit creation in patients at high risk for PH development and found it to be safe and effective in reducing the PH rates over the short-term. In this review, we describe the clinical and radiographic definitions of PH, the clinical impact and risk factors associated with its development, and the use of prophylactic mesh placement for patients undergoing ileal conduit urinary diversion with the intent of reducing PH rates. PMID:27437533

  15. Free-boundary models of a meltwater conduit

    Dallaston, Michael C.

    2014-08-01

    © 2014 AIP Publishing LLC. We analyse the cross-sectional evolution of an englacial meltwater conduit that contracts due to inward creep of the surrounding ice and expands due to melting. Making use of theoretical methods from free-boundary problems in Stokes flow and Hele-Shaw squeeze flow we construct an exact solution to the coupled problem of external viscous creep and internal heating, in which we adopt a Newtonian approximation for ice flow and an idealized uniform heat source in the conduit. This problem provides an interesting variant on standard free-boundary problems, coupling different internal and external problems through the kinematic condition at the interface. The boundary in the exact solution takes the form of an ellipse that may contract or expand (depending on the magnitudes of effective pressure and heating rate) around fixed focal points. Linear stability analysis reveals that without the melting this solution is unstable to perturbations in the shape. Melting can stabilize the interface unless the aspect ratio is too small; in that case, instabilities grow largest at the thin ends of the ellipse. The predictions are corroborated with numerical solutions using boundary integral techniques. Finally, a number of extensions to the idealized model are considered, showing that a contracting circular conduit is unstable to all modes of perturbation if melting occurs at a uniform rate around the boundary, or if the ice is modelled as a shear-thinning fluid.

  16. Project financing versus corporate financing under asymmetric information

    Anton Miglo

    2008-01-01

    In recent years financing through the creation of an independent project company or financing by non-recourse debt has become an important part of corporate decisions. Shah and Thakor (JET, 1987) argue that project financing can be optimal when asymmetric information exists between firm's insiders and market participants. In contrast to that paper, we provide an asymmetric information argument for project financing without relying on corporate taxes, costly information production or an assump...

  17. Financing social housing

    Amann, W.; Hegedüs, J.; Lux, Martin; Springler, E.

    New York/Londýn: Routledge, 2013 - (Hegedüs, J.; Lux, M.; Teller, N.), s. 50-64 ISBN 978-0-415-89014-4 R&D Projects: GA ČR GA403/09/1915 Institutional research plan: CEZ:AV0Z70280505 Keywords : Housing finance * transition countries * social housing Subject RIV: AO - Sociology, Demography

  18. Financing emerging energies

    This paper discusses the financing of emerging energies in Canada. Transforming energy markets will involve billions of dollars of investment from businesses and residents. Many different types of return on investment can be expected. These benefits will continue to grow over time and provide a permanent income

  19. Malliavin calculus in finance

    Kohatsu, Arturo; Miquel, Montero

    2003-01-01

    This article is an introduction to Malliavin Calculus for practitioners. We treat one specific application to the calculation of greeks in Finance. We consider also the kernel density method to compute greeks and an extension of the Vega index called the local vega index.

  20. Filtering in Finance.

    Lautier, Delphine; Javaheri, Alireza; Galli, Alain

    2003-01-01

    In this article we present an introduction to various Filtering algorithms and some of their applications to the world of Quantitative Finance. We shall first mention the fundamental case of Gaussian noises where we obtain the well-known Kalman Filter. Because of common nonlinearities, we will be discussing the Extended Kalman Filter.

  1. Jamaica School Finance

    World Bank

    2012-01-01

    Although the availability of financial resources does not guarantee quality education, it is impossible to achieve this goal without adequate resources which often come from public sources. Understanding how to use resources for education wisely should thus be a top priority for education policymakers. Systems approach for better education results (SABER) school finance informs this conver...

  2. Campaign Finance: Reporter Guide

    Wieder, Ben

    2014-01-01

    Campaign finance might seem like the exclusive province of political reporters, but there are many good reasons why authors should be paying attention--both in races for education positions and in other key races at the local, state, and federal levels with implications for education. Basic math is a necessary skill and familiarity with a…

  3. Specialized financing techniques

    Specific financing techniques applicable to wind energy projects in Canada are discussed. A limited partnership is the classic Canadian approach to tax-advantaged financing. For a typical wind project, the limited partners would get an internal rate of return of around 8% over 20 years as well as income tax deductions on Class 34 investments. This rate can be improved if the investors borrow some of the money; they get tax-free cash flow while having deductible loan interest, raising their rate of return after taxes to ca 9-10%. Special situation investors can get to take all of the Class 34 deduction right away, raising their return up to the 12% range. These investors include principal business corporations (such as utilities or oil companies), or companies who have sold their business. A second type of financing structure is related to inflation-indexed debt. The loan is structured like a mortgage, with the annual payments indexed to inflation but nevertheless low enough to provide an early positive cash flow from the project. Other possible financing structures are the immigrant investor fund and the provincial incentive corporations

  4. Copulas for finance

    Bouye, Eric; Durlleman, Valdo; Nikeghbali, Ashkan; Riboulet, Gaël; Roncalli, Thierry

    2000-01-01

    Copulas are a general tool to construct multivariate distributions and to investigate dependence structure between random variables. However, the concept of copula is not popular in Finance. In this paper, we show that copulas can be extensively used to solve many financial problems.

  5. Financing of Renewable Energy Projects

    The paper describes the role of the Banco Centroamericano de Integracion Economica in financing renewable energy projects in Central America. Also decribes the different financing modes to the goverment and private sectors

  6. From Finance Capitalism to Financialization

    Hansen, Per H.

    2014-01-01

    In this article I interpret 150 years of financial history with a focus on shifts in the role of finance in society. I argue that over time the role of finance has shifted twice from that of servant to that of master of society, and that this process has been driven by sense making through...... narratives that legitimized and shaped these changes. When finance became a master rent seeking, cultural capture and out-of control financial innovation resulted in financial and social instability. Finance as a master was the characteristic of finance capitalism from around 1900......–1931 and of financialization from around 1980 to today. Finance capitalism and financialization were enabled by a dominant narrative that legitimized the power of finance. The shifts in the role of finance happened when crises undermined the meaning of the existing narrative and created for a new narrative able to make sense...

  7. Real world financing opportunities for energy conservation projects

    Tramonte, D.J.

    1988-01-01

    Do you have the resources, dollars, people expertise and general know-how to do all the energy conservation measures. If you have the funds, do it yourself. Historically you would save more if you hired a private concern because that is the only job the contractor does for you. You have other hats to wear and fires to put out. Using third-party financing can be a good decision based on your specific needs. Procrastination is not the answer - the cost of delay is extensive. Financing energy conservation measures is no different from financing your automobile or home. If the benefits outweigh the negatives, the answer is obvious. Remember, in any case of using private sector financing, your are joining a partnership arrangement. The only way to succeed is to be honest with each other on the front end. There need not be any surprises. Any reputable company will gladly have your attorney evaluate all agreements, amortization schedules, and attachments. Real world financing alternatives will continue to change as the market matures. It's not too good to be true. It is no more than a vehicle to make the efforts of capital improvements streamlined. The money or financing is the catalyst to the project and makes the other areas meld.

  8. ISLAMIC FINANCE – UNDERGRADUATE EDUCATION

    TAHIR, SAYYID

    2009-01-01

    Islamic finance literacy has become critical for the future growth of the Islamic financial sector in the twenty-first century. While a multi-pronged approach is called for, the focus in this paper is on the undergraduate programs in Islamic banking and finance. It analyses the state of teaching of Islamic banking and finance at the undergraduate level and proposes solutions for improving the undergraduate education of Islamic banking and finance.

  9. The Challenge of Islamic Finance

    Sheng, Andrew; Singh, Ajit

    2012-01-01

    From its humble beginnings in the 1990s, Islamic finance has become a trillion US dollar industry. The market consensus is that Islamic finance has a bright future due to favourable demographics and rising incomes in the Muslim community. Moreover, despite voices sceptical of an accommodation between Islamic and global finance, leading global banks are buying Islamic bonds and forming subsidiaries specially to conduct Islamic finance business. Special laws have been passed in non-Muslim fi...

  10. An Overview of Islamic Finance

    Mumtaz Hussain; Asghar Shahmoradi; Rima Turk

    2015-01-01

    Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link t...

  11. Private finance and public policy

    Garry J. Schinasi

    2006-01-01

    This paper articulates a logical foundation-drawn from disparate literatures-for understanding why safeguarding financial stability is an important economic policy objective. The paper also explains why private aspects of finance provide broader social economic benefits and have the characteristics of public goods. Unique aspects of finance are examined, as are the linkages between finance, money, and the real economy. Sources of market imperfections in finance are identified and their implic...

  12. FINANCING DECISION AND CORPORATE GOVERNANCE

    ANDREI STANCULESCU; DAN NICOLAE IVANESCU; PETRE BREZEANU

    2011-01-01

    This paper sustains the existence of a biunivocal link between a company’s financing decision and the corporate governance. On the one hand, the financing decision has an impact on corporate performance, which has been confirmed. According to the agency theory, the financing decision will contribute to solving interest conflicts between shareholders and managers. On the other hand, the corporate governance mechanism provides the proper contractual framework for attracting financing resources....

  13. Projects Financing from EU Funds

    Prokešová, Lenka

    2011-01-01

    The diploma thesis is evaluating financing of certain project from EU funds and further comparison with other financing methods. At the end there is final evaluation if financing of this project can be sourced from EU funds. In theoretical part of work there are characteristics of structural and regional policies with financing from EU funds. Focus is for Operational Program Enterprise and Innovations, Program of support development. In practical part there is continuation of company introduc...

  14. Impact: What Influences Finance Research?

    Tom Arnold

    2003-01-01

    Which journal articles have had the most impact on finance research? Which journals dominated finance research in the 1990s? We answer these and similar questions using a comprehensive sample of journals, an extensive time period, and a new ranking method that avoids problems inherent in the existing literature. Among our findings: six of the 10 articles most highly cited by finance journals were published in econometrics or economics journals; Journal of Finance has the most citations, but i...

  15. Information,Informal finance,and SME financing

    LIN Justin Yifu; SUN Xifang

    2006-01-01

    Informal finance exists extensively and has been playing an important role in small-and medium-sized enterprise (SME) financing in developing economies,This paper tries to rationalize the extensiveness of informal finance.SME financing suffers more serious information asymmetry to the extent that most SMEs are more opaque and can only provide less collateral.Informal lenders have an advantage over formal financial institutions in collecting "soft information" about SME borrowers.This paper establishes a model including formal and informal lenders and high-and low-risk borrowers with or without sufficient collateral and shows that the credit market in which informal finance is eliminated will allocate funds in some inefficient way,and the efficiency of allocating credit funds can be improved once informal finance is allowed to coexist with formal finance.

  16. Moduli of weighted hyperplane arrangements

    Lahoz, Martí; Macrí, Emanuele; Stellari, Paolo

    2015-01-01

    This book focuses on a large class of geometric objects in moduli theory and provides explicit computations to investigate their families. Concrete examples are developed that take advantage of the intricate interplay between Algebraic Geometry and Combinatorics. Compactifications of moduli spaces play a crucial role in Number Theory, String Theory, and Quantum Field Theory – to mention just a few. In particular, the notion of compactification of moduli spaces has been crucial for solving various open problems and long-standing conjectures. Further, the book reports on compactification techniques for moduli spaces in a large class where computations are possible, namely that of weighted stable hyperplane arrangements.

  17. Arrangement for selectively irradiating webs

    The arrangement for selectively irradiating a web includes a perforated band of a radiation impermeable substance which is guided in an endless path via a pair of guide rollers and has two juxtaposed runs in this path. A take-up roller conveys a web of material past one of the runs at a side thereof remote from the other run, the direction of movement of the web being other than parallel to that of the band and, preferably, normal thereto. An electron accelerator is provided at the far side of the run remote from the web and is effective for directing a radiation beam at the web through the perforations

  18. On Security of Collateral in Danish Mortgage Finance

    Haldrup, Karin

    2016-01-01

    Specialized mortgage intermediaries in Denmark have for over two hundred years provided owners and buyers of real property wide access to credit. The present paper sets out to explore the safeguards that nurtured development of a robust, market based financing system and a deep mortgage market....... Observations are made on the nature of collateral performance in respect to property rights, mortgage law and market development in search of general features of required institutional arrangements. The robustness of the Danish mortgage finance system is largely accredited to the securitization model based...... rights and practically reduced legal risks of mortgaging to zero. Standardization and scale of economics supported collateral efficiency, as measured in terms of simplicity, transparency, rapidity and costs. The Danish mortgage finance system illustrates the critical role of government in insuring...

  19. Project financing renewable energy schemes

    The viability of many Renewable Energy projects is critically dependent upon the ability of these projects to secure the necessary financing on acceptable terms. The principal objective of the study was to provide an overview to project developers of project financing techniques and the conditions under which project finance for Renewable Energy schemes could be raised, focussing on the potential sources of finance, the typical project financing structures that could be utilised for Renewable Energy schemes and the risk/return and security requirements of lenders, investors and other potential sources of financing. A second objective is to describe the appropriate strategy and tactics for developers to adopt in approaching the financing markets for such projects. (author)

  20. Legal aspects of financing Canadian offshore oil and gas developments

    A review is presented of the significant legal considerations involved in structuring, negotiating, and documenting commercial financing of a Canadian offshore oil and gas production facility. Emphasis is placed on the Hibernia Project in the Newfoundland offshore as an example, and more specifically the $450 million bank financing completed in November 1991. The legal framework governing offshore production financing in this case was complex, due to the project's location in international waters on the continental shelf. Complex intergovernmental arrangements have been implemented between Canada and Newfoundland to govern the offshore area and regulate the project. An agreement called the Atlantic Accord allowed the Canada Newfoundland Offshore Petroleum Board (CNOPB) to grant production licenses and to regulate offshore exploration and development, with matters relating to legislation, taxation, and royalties shared between the governments. Certain other acts were enacted or extended for application to the offshore area. The CNOPB administers a registry system for transfers and security interests in offshore licenses. Security interests including property are ensured by the Hibernia Act, which makes Newfoundland's existing security interest regime applicable to the offshore. The project owners are operating Hibernia as a joint venture, and the structure of project financing and inter-creditor arrangements is examined. The competing security interest of project lenders and non-defaulting participants is discussed, along with assignment of priorities on the security in case of default

  1. The Centrality of Finance

    Tabb, William K.

    2015-01-01

    In the contemporary conjuncture financialization is driving a fundamentalreorganization of American capitalism and increasingly that of other economiessignificantly impacting the trajectory of the world-system. This paper interrogates the nature and extent of financialization, the ways it is adding to systemic risk with attention to the future of the dollar, and implications for the relationship between US based finance and new emerging centers of the world-system.

  2. The Centrality of Finance

    William K. Tabb

    2015-08-01

    Full Text Available In the contemporary conjuncture financialization is driving a fundamentalreorganization of American capitalism and increasingly that of other economiessignificantly impacting the trajectory of the world-system. This paper interrogates the nature and extent of financialization, the ways it is adding to systemic risk with attention to the future of the dollar, and implications for the relationship between US based finance and new emerging centers of the world-system.

  3. Mathematical Models in Finance

    Halim Kazan; Ahmet Ergülen

    2005-01-01

    Finance is the corner stone of the free enterprise system. Good financial management is therefore vitally important to the economic health of business firms, and thus the nation and the world. The field is relatively complex, and it is undergoing constant change in response to shifts in economic conditions say Brigham and Gapenski in the introduction of their Financial Management book (Brigham, Eugene F., Gapenski, Louis C 1994). As they said the field is relatively complex since most of the ...

  4. Innovation, Trade and Finance

    Egger, Peter; Keuschnigg, Christian

    2010-01-01

    This paper proposes a model where heterogeneous firms choose whether to undertake R&D or not. Innovative firms are more productive, have larger investment opportunities and lower own funds for necessary tangible continuation investments than non-innovating firms. As a result, they are financially constrained while standard firms are not. The efficiency of the financial sector and a country's institutional quality relating to corporate finance determine the share of R&D intensive firms and the...

  5. Private finance. Oz trials.

    West, P

    1999-08-19

    Privatization of a public sector general hospital in Adelaide, Australia, five years ago has revealed the strengths of the model and the difficulties of contracting with the private sector. Managers believe the new model has reduced overstaffing and increased local management. There have been continual contracting problems and the hospital has made losses, almost from the start. Private finance initiative contracts may always be difficult to negotiate and sustain. PMID:10662311

  6. Islamic finance in Europe

    WILSON, RODNEY

    2013-01-01

    Islam all too often resonates negatively in Europe, with a great part of non-Muslim public opinion uncomfortable with Islamic culture and values. Secular and Christian opinion is at best suspicious of shariah, Islamic law, and indeed often antagonistic. The notion of wanting to apply shariah principles to banking and finance is treated with scepticism if not outright hostility, especially as there is no concept of Christian or Jewish banking, even if there are some parallels between shariah f...

  7. When Art & Finance Collide

    Yu Lintao

    2011-01-01

    CHINA'S art market is on fire.As sales and prices break records,a new force has appeared in the market-organized art finance in the form of art trust funds and artwork exchanges.It was reported that the anonymous winner of the bid for the Song Dynasty calligraphy work Dizhuming by Huang Tingjian (1045-1105).which was sold for a staggering 436.

  8. Financing Vocational Education

    DURNALI, Mehmet

    2015-01-01

    The aim of this study is to establish a framework for the financing of Turkey's vocational education system. The literature review is conducted for this study. In addition, one to one consultation with relevant experts from General Directorate of Vocational and Technical Education (of Ministry of National Education, Republic of Turkey) is executed and related regulations, circulars and laws are identified. Moreover, the recent restructuring of vocational training and the student's educational...

  9. Financing ASEAN Connectivity

    Fauziah ZEN; Regan, Michael

    2013-01-01

    This report gives deeper insights on how the infrastructure development is being funded in different ASEAN Member States (AMSs) for ASEAN Connectivity. In this regards, the Public-Private Partnership (PPP) Program is also seen as one way to help build the infrastructure in ASEAN. The AMSs are having different levels of infrastructure policy, financing method and financial capacity. The PPP Program has been significantly developed and utilized in Malaysia, Indonesia, Thailand and the Philippin...

  10. Financing Old Age Dependency

    Shinichi Nishiyama; Kent Smetters

    2014-01-01

    Baby boomers are now retiring in large numbers, and most do not have enough assets of their own to finance retirement. Social insurance programs help baby boomers afford retirement, but these programs are substantially underfunded. Reforming these institutions earlier will produce fewer distortions than continued delays. Several options also exist for helping households prepare for their own retirement: improving financial literacy, more opt-out defaults, better guidance about the value of de...

  11. Finance and Balanced Growth

    Trew, Alex

    2010-01-01

    We study the relationships between various concepts of financial development and balanced economic growth. A model of endogenous growth that incorporates roles for both financial efficiency and access to financial services permits a better understanding of the relationship between the size of the financial sector (value added) and growth. Higher financial value added results from some, but not all, kinds of finance-driven growth. If greater access rather than greater efficiency generates high...

  12. Financing Public Service Broadcasting

    Berg, Christian Edelvold; Lund, Anker Brink

    2012-01-01

    Recently several European countries have abolished the traditional public service licence fee system, replacing it with direct public funding. But except for Iceland, the Nordic countries have not followed suit. The article discusses this development within a comparative framework of Public Service...... Broadcasting (PSB) financing regimes in Europe, concluding that Denmark, Finland, Iceland, Norway, and Sweden may still be considered conventional, licence fee PSB countries, but with some interesting differences in relation to competitive and market oriented alternatives of resource provision...

  13. Social security financing.

    1980-05-01

    After nearly 2 years of study, the 1979 Advisory Council on Social Security submitted its findings and recommendations in December. In February the Bulletin published the Executive Summary of the Council's report. Because of the continuing wide public interest in the future of social security financing, the Council's detailed findings and recommendations on that subject are published below. The Council unanimously reports that all current and future beneficiaries can count on receiving the payments to which they are entitled. Among the recommendations it calls for are partial financing with nonpayroll-tax revenues. Suggested changes include hospital insurance (HI) financed through portins of personal and corporate income taxes and a part of the HI insurance payroll tax diverted to cash benefits with the balance of this tax repealed. The Council also recommends that the social security cash benefits program be brought into long-run actuarial balance--with a payroll-tax rate increase in the year 2005. It rejects the idea of a value-added tax as being inflationary. Parenthetical remarks represent additional views of the Council members cited. PMID:7423348

  14. [Dilemmas of health financing].

    Herrera Zárate, M; González Torres, R

    1989-01-01

    The economic crisis had had a profound effect on the finances of health services in Mexico. The expenditure on health has decreased, both in absolute terms and in relation to the national gross product. Funding problems have been aggravated by inequities in budget distribution: social security institutions have been favored; geographical distribution of resources is concentrated in the central areas of the country and in the more developed states, and curative health care has prevailed over preventive medicine. Administrative inefficiency hinders even more the appropriate utilization of resources. Diversification of funding sources has been proposed, through external debt, local funding, and specific health taxing. But these proposals are questionable. The high cost of the debt service has reduced international credits as a source of financing. Resource concentration at the federal level, and the different compromises related to the economic solidarity pact have also diminished the potentiality of local state financing. On the other hand, a special health tax is not viable within the current fiscal framework. The alternatives are a better budget planning, a change in the institutional and regional distribution of resources, and improvement in the administrative mechanisms of funding. PMID:2697097

  15. Evaluation of the ITER cable in conduit conductor heat transfer

    Convective heat transfer correlations in dual channel Cable In Conduit Conductor (CICC) are presented as functions of friction factor, and based on the Reynolds-Colburn analogy using the Stanton number. The developed thermohydraulic model determines helium temperatures in both channels, with the real geometrical spiral perforation. It is applied with pertinence to the Poloidal Field Full Size Joint Sample (PF-FSJS) and shows good agreement between the experimental measurements and the calculated temperatures, characterised by a 0.43 m space constant. The heat load applied in the bundle region induces density imbalance; the gravity effect in this vertical sample is evaluated and discussed. (authors)

  16. 'Chrysanthemum petal' arrangements of silver nano wires.

    Cui, Hui-Wang; Jiu, Jin-Ting; Sugahara, Tohru; Nagao, Shijo; Suganuma, Katsuaki; Uchida, Hiroshi

    2014-12-01

    Highly ordered 'Chrysanthemum petal' arrangements of silver nano wires were fabricated in a biodegradable polymer of polyvinyl alcohol using a simple one-step blending method without any template. The degree of the arrangement increased with the decreasing content of polyvinyl alcohol. The mechanism for the formation of these 'Chrysanthemum petal' arrangements was discussed specifically. These 'Chrysanthemum petal' arrangements will be helpful to increase the electrical conductivity of silver nano wires films. PMID:25397618

  17. Hyperplane Arrangements with Large Average Diameter

    Deza, Antoine; Xie, Feng

    2007-01-01

    The largest possible average diameter of a bounded cell of a simple hyperplane arrangement is conjectured to be not greater than the dimension. We prove that this conjecture holds in dimension 2, and is asymptotically tight in fixed dimension. We give the exact value of the largest possible average diameter for all simple arrangements in dimension 2, for arrangements having at most the dimension plus 2 hyperplanes, and for arrangements having 6 hyperplanes in dimension 3. In dimension 3, we g...

  18. Face monoid actions and tropical hyperplane arrangements

    Johnson, Marianne; Kambites, Mark

    2016-01-01

    We study the combinatorics of tropical hyperplane arrangements, and their relationship to (classical) hyperplane face monoids. We show that the refinement operation on the faces of a tropical hyperplane arrangement, introduced by Ardila and Develin in their definition of a tropical oriented matroid, induces an action of the hyperplane face monoid of the classical braid arrangement on the arrangement, and hence on a number of interesting related structures. Along the way, we introduce a new ch...

  19. Tensile and fatigue qualification testing of ITER-CS conduit alloy JK2LB

    Walsh, R. P.; McRae, D. M.; Han, K.; Martovetsky, N. N.

    2015-12-01

    The ITER Central Solenoid (CS) coils utilize cable-in-conduit conductor (CICC) and the conduit alloy is JK2LB. The production grade conduit alloy (and it's welds) must meet strict requirements for strength, toughness, fatigue crack resistance, and fabricability. The conduit alloy must retain good mechanical properties after additional fabrication steps such as welding, coil winding strain and exposure to the Nb3Sn superconductor's reaction heat treatment. Here we present data from cryogenic tensile, fracture toughness, fatigue crack growth rate, and axial fatigue tests of JK2LB alloy and conduit butt welds, before and after the exposure to the reaction heat treatment. The tests of specimens removed directly from the conduit provide confirmation of the materials properties and the effect of the cold work and aging. The 4 K fatigue performance is extremely important to the reliability of the CS and is covered both by axial cyclic fatigue tests and the fatigue crack growth rate measurements.

  20. 29 CFR 779.229 - Other arrangements.

    2010-07-01

    ..., Franchise and Other Business Arrangements § 779.229 Other arrangements. With respect to those arrangements...” establishment will be considered a part of the same “enterprise.” For example, whether a franchise, lease, or... the enterprise which grants the franchise, right, or concession. (S. Rept. 145, 87th Cong., 1st...

  1. 25 CFR 170.300 - May tribes use flexible financing to finance IRR transportation projects?

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false May tribes use flexible financing to finance IRR... Financing § 170.300 May tribes use flexible financing to finance IRR transportation projects? Yes. Tribes may use flexible financing in the same manner as States to finance IRR transportation projects,...

  2. Diverse living arrangements of children.

    1993-01-01

    In the United States, over the past few decades, the prominence of the traditional two-parent family has gradually faded, with its place usually being taken by homes headed by a mother. Relatively few children are raised by single fathers. The pattern of this ongoing development varies considerably by major racial groups as well as by age of child. Current living arrangements for children by three classes of age, race and presence of parents were analyzed by four parental characteristics--age, educational attainment, labor force participation and existence of other siblings. Racial similarities and differences--some significant--are noted. For example, among white children, 36 percent of those under age six had a parent under age 30. Among black children, the proportion was 57 percent and among Hispanics, 46 percent. In all groups, educational attainment was higher in families with two parents. Parents' educational levels were parallel with their employment rates. PMID:8211668

  3. MUSICAL ARRANGEMENT OF MEDIA ADS

    Chernyshov Alexander V.

    2015-01-01

    Full Text Available The music-compositional principles of commercial and political advertising and also the self-promotion of electronic media (radio, television, Internet are considered in this mediatext: from the elementary beeps, symbolic functions, emblems/logos and musical brands to the sound engineering technology to underscore the product's name and the complex synthesis between music and intra movements and color-light design of frames. Simultaneously examines, how the musical arrangement of ethereal advertising is involved in creation the emotional drama or bravado which reach the level of explicit or associative counterpoint 'music with the advertised object or subject' and which extend to expression of cultural image of all the broadcast channel. The article explores the works of the next genres like infomercial, teleshopping, film-ad, and autonomous commercials that have been produced in European countries or USA.

  4. International arrangements against nuclear terrorism

    International efforts to show the spread of nuclear weapons have created an international norm of nonproliferation, backed by a variety of enforcement mechanisms. Together they are often referred to as the nonproliferation regime. This regime is reviewed, starting with the 1963 Limited Test Ban Treaty. The centerpiece of the regime, the Non-Proliferation Treaty (NPT), signed in 1968, now has 135 parties, including most of the advanced industrial nuclear countries. Results of the 1985 NPT Review Conference are briefly discussed; the 86 NPT parties that attended reaffirmed the treaty's value, pledged continued support for the IAEA safeguards system, and called upon nonsigners to renounce nuclear weapons and accept IAEA safeguards. A section is devoted to the physical protection of nuclear materials, facilities, and weapons. Finally, recommendations are presented to improve international arrangements against nuclear terrorists

  5. Nanofibrous nerve conduits for repair of 30-mm-long sciatic nerve defects

    Biazar, Esmaeil; Keshel, Saeed Heidari; Pouya, Majid; Rad, Hadi; Nava, Melody Omrani; Azarbakhsh, Mohammad; Hooshmand, Shirin

    2013-01-01

    It has been confirmed that nanofibrous poly(3-hydroxybutyrate-co-3-hydroxyvalerate) nerve conduit can promote peripheral nerve regeneration in rats. However, its efficiency in repair of over 30-mm-long sciatic nerve defects needs to be assessed. In this study, we used a nanofibrous poly(3-hydroxybutyrate-co-3-hydroxyvalerate) nerve conduit to bridge a 30-mm-long gap in the rat sciatic nerve. At 4 months after nerve conduit implantation, regenerated nerves were cally observed and histologicall...

  6. Alpha-lipoic acid loaded in chitosan conduit enhances sciatic nerve regeneration in rat

    Azizi, Saeed; Heshmatian, Behnam; AMINI, Keyvan; Raisi, Abbas; Azimzadeh, Mohammad

    2015-01-01

    Objective(s): To investigate the effect of topical administration of alpha-lipoic acid into chitosan conduit on peripheral nerve regeneration using a rat sciatic nerve transection model. Materials and Methods: Forty five Wistar rats were divided into three experimental groups randomly. A 10-mm gap of sciatic nerve was bridged with a chitosan conduit following surgical preparation and anesthesia. In treatment group, the conduit was filled with 30 µl alpha-lipoic acid (10 mg/kg/bw).It was fille...

  7. Causes and consequences of conduit wall permeability changes during explosive eruptions

    Rust, Alison; Hanson, Jonathan

    2015-04-01

    Magmatic volatiles, and in some cases external water, drive explosive volcanic eruptions and so the permeability of magma and conduit wall rocks can modulate the style and intensity of eruptions. Both modelling of eruption dynamics and field studies of lithic clasts indicate that fragmentation levels during explosive silicic eruptions commonly reach depths of kilometres. An important consequence is that substantial deviations from lithostatic pressure are sustained in the conduit during eruption, which, according to finite element modelling, are sufficient to damage a substantial volume of rock around the conduit. Underpressured regions will be susceptible to conduit erosion, widening the conduit; field data provide constraints on erosion rates and erosion depths where subsurface stratigraphy is known. Damage to wall rocks will also increase the rock permeability adjacent to the conduit, which could significantly affect magmatic degassing during and between eruptions. The degree to which external water can interact with magma in the conduit will also depend on wall rock permeability and spatial and temporal variations in pressure. When a major magmatic eruption ceases, deep magma is likely to ascend to fill the lower conduit, and the upper conduit may partially collapse forming vertically extensive breccia. Subvolcanic rocks exposed by exploration and mining of porphyry copper deposits (PCDs) and associated alteration and breccias may provide further field constraints on these models. Although syn- and post-mineralization explosive eruptions likely ruin potential PCDs, earlier eruptions might make space for vertical shallow intrusions and help establish permeable regions conducive to focussing of magmatic fluids required for PCD generation.

  8. Treatment of colon conduit redundancy in a child with esophageal atresia.

    Glasser, James G; Reddy, P Prithvi; Adkins, E Stanton

    2006-03-01

    We recently revised a redundant colon conduit in a boy who was born with isolated esophageal atresia. In view of the paucity of reports dealing with correction of this common complication of esophageal replacement, it seemed appropriate to report our experience. Because of effective medical therapy of acid peptic disease, patients who formerly required conduit replacement may now be candidates for revision; however, the medical literature does not specify when conduit revision, as opposed to conduit replacement, is indicated; also, no guidance is provided regarding what constitutes effective operative revision. Innovative techniques that stretch and elongate the atretic esophagus will likely lessen the use of conduits in esophageal atresia; nevertheless, colon conduits are useful in many other clinical situations and will remain an essential part of the armamentarium of pediatric, general, and thoracic surgeons. This report highlights the DeMeester and Tannuri technique, whereby a colon conduit is prepared like a Roux limb. The mesentery is divided only once; the conduit's blood supply is not severed from the distal mesocolon. This innovation improves a conduit's blood supply and lessens its attendant complications. Lastly, we describe a muscle splitting, posterolateral thoracotomy technique that is simpler than the alternatives and is useful in a variety of clinical situations. PMID:16553129

  9. A silk sericin/silicone nerve guidance conduit promotes regeneration of a transected sciatic nerve.

    Xie, Hongjian; Yang, Wen; Chen, Jianghai; Zhang, Jinxiang; Lu, Xiaochen; Zhao, Xiaobo; Huang, Kun; Li, Huili; Chang, Panpan; Wang, Zheng; Wang, Lin

    2015-10-28

    Peripheral nerve gap defects lead to significant loss of sensory or motor function. Tissue engineering has become an important alternative to nerve repair. Sericin, a major component of silk, is a natural protein whose value in tissue engineering has just begun to be explored. Here, the first time use of sericin in vivo is reported as a long-term implant for peripheral nerve regeneration. A sericin nerve guidance conduit is designed and fabricated. This conduit is highly porous with mechanical strength matching peripheral nerve tissue. It supports Schwann cell proliferation and is capable of up-regulating the transcription of glial cell derived neurotrophic factor and nerve growth factor in Schwann cells. The sericin conduit wrapped with a silicone conduit (sericin/silicone double conduits) is used for bridging repair of a 5 mm gap in a rat sciatic nerve transection model. The sericin/silicone double conduits achieve functional recovery comparable to that of autologous nerve grafting as evidenced by drastically improved nerve function and morphology. Importantly, this improvement is mainly attributed to the sericin conduit as the silicone conduit alone only produces marginal functional recovery. This sericin/silicone-double-conduit strategy offers an efficient and valuable alternative to autologous nerve grafting for repairing damaged peripheral nerve. PMID:26332703

  10. Environmental tracers as indicators of karst conduits in groundwater in South Dakota, USA

    Long, A.J.; Sawyer, J.F.; Putnam, L.D.

    2008-01-01

    Environmental tracers sampled from the carbonate Madison aquifer on the eastern flank of the Black Hills, South Dakota, USA indicated the approximate locations of four major karst conduits. Contamination issues are a major concern because these conduits are characterized by direct connections to sinking streams, high groundwater velocities, and proximity to public water supplies. Objectives of the study were to estimate approximate conduit locations and assess possible anthropogenic influences associated with conduits. Anomalies of young groundwater based on chlorofluorocarbons (CFCs), tritium, and electrical conductivity (EC) indicated fast moving, focused flow and thus the likely presence of conduits. ??18O was useful for determining sources of recharge for each conduit, and nitrate was a useful tracer for assessing flow paths for anthropogenic influences. Two of the four conduits terminate at or near a large spring complex. CFC apparent ages ranged from 15 years near conduits to >50 years in other areas. Nitrate-N concentrations >0.4 mg/L in groundwater were associated with each of the four conduits compared with concentrations ranging from <0.1 to 0.4 mg/L in other areas. These higher nitrate-N concentrations probably do not result from sinking streams but rather from other areas of infiltration. ?? Springer-Verlag 2007.

  11. Relationship finance, market finance and endogenous business cycles

    Deidda, Luca Gabriele; Fattouh, Bassam

    2010-01-01

    This paper develops an overlapping generation model with asymmetric information in the credit market such that the interplay between relationship finance supplied by investors who monitor investment decisions ex-ante and market finance supplied by investors who relay on public information can be the source of endogenous business fluctuations. Monitoring helps reducing the inefficiency caused by moral hazard. However, the incentives of entrepreneurs to demand relationship finance to induce mon...

  12. Is Islamic Finance ethical finance? Principles and Stakeholder Responsibilities

    Hamzah, Shariza

    2011-01-01

    With the recent global financial crisis and the many scandals that have happened of late, there is a need for an ethical finance system. Reports have mentioned and concluded that Islamic financial institutions were the least to be affected, with more than US$800 billion worth of deposits and investments lodged, Islamic banks, mutual funds, insurance schemes, and Islamic branches of conventional banks (Hesse et al, 2008). Would it be fair then to say that Islamic finance is ethical finance? T...

  13. Documentation of a Conduit Flow Process (CFP) for MODFLOW-2005

    Shoemaker, W. Barclay; Kuniansky, Eve L.; Birk, Steffen; Bauer, Sebastian; Swain, Eric D.

    2007-01-01

    This report documents the Conduit Flow Process (CFP) for the modular finite-difference ground-water flow model, MODFLOW-2005. The CFP has the ability to simulate turbulent ground-water flow conditions by: (1) coupling the traditional ground-water flow equation with formulations for a discrete network of cylindrical pipes (Mode 1), (2) inserting a high-conductivity flow layer that can switch between laminar and turbulent flow (Mode 2), or (3) simultaneously coupling a discrete pipe network while inserting a high-conductivity flow layer that can switch between laminar and turbulent flow (Mode 3). Conduit flow pipes (Mode 1) may represent dissolution or biological burrowing features in carbonate aquifers, voids in fractured rock, and (or) lava tubes in basaltic aquifers and can be fully or partially saturated under laminar or turbulent flow conditions. Preferential flow layers (Mode 2) may represent: (1) a porous media where turbulent flow is suspected to occur under the observed hydraulic gradients; (2) a single secondary porosity subsurface feature, such as a well-defined laterally extensive underground cave; or (3) a horizontal preferential flow layer consisting of many interconnected voids. In this second case, the input data are effective parameters, such as a very high hydraulic conductivity, representing multiple features. Data preparation is more complex for CFP Mode 1 (CFPM1) than for CFP Mode 2 (CFPM2). Specifically for CFPM1, conduit pipe locations, lengths, diameters, tortuosity, internal roughness, critical Reynolds numbers (NRe), and exchange conductances are required. CFPM1, however, solves the pipe network equations in a matrix that is independent of the porous media equation matrix, which may mitigate numerical instability associated with solution of dual flow components within the same matrix. CFPM2 requires less hydraulic information and knowledge about the specific location and hydraulic properties of conduits, and turbulent flow is approximated by

  14. Asset Pricing Implications of Firms' Financing Constraints

    Gomes, Joao F; Yaron, Amir; Zhang, Lu

    2002-01-01

    We incorporate costly external finance in a production based asset pricing model and investigate whether financing frictions are quantitatively important for pricing a cross-section of expected returns. We show that the common assumptions about the nature of the financing frictions are captured by a simple ‘financing cost’ function, equal to the product of the financing premium and the amount of external finance. This approach provides a tractable framework to examine the role of financing fr...

  15. Promotion and financing of nuclear power programmes in developing countries

    Nuclear power has been introduced only to a small extent in a few developing countries. A group of senior experts conducted a study of the existing constraints on nuclear power in developing countries, the requirements to be met for successful introduction of a nuclear power programme, and mechanisms to assist developing countries in overcoming the identified constraints. Financing represents one (but not the only) major constraint to nuclear power development in developing countries. The present schemes of export credits and commercial financing are seen as not adequately meeting the needs of nuclear power financing in terms of repayment periods and profiles, or in terms of flexibility to meet delays and cost overruns. Innovative and workable arrangements to share the economic and financial risks would be helpful in obtaining financing for a nuclear power project. All possible efforts should be made by all parties involved in the development of nuclear power to reduce as far as possible the uncertainties surrounding the cost and schedule of a nuclear power project, as an essential step to improve the overall climate for financing the project. Government commitment, soundly based and thorough planning, development of qualified manpower and other key infrastructures, and good project management are important mechanisms to achieve greater predictability in project schedule and cost. Technical assistance provided by the IAEA can be very helpful in building these capabilities in developing countries. (author). 1 tab

  16. Path innovation of rural property mortgage financing in China

    Wu Yongchao

    2016-01-01

    Full Text Available Rural property mortgage financing, as an important breakthrough to deepen the reform of rural property right system and financial system, is an important approach to increase the farmers’ property income. Besides, rural property mortgage financing is of great significance in implementing the rural land usufructuary right and meeting the demand of medium-and-long-term and large-scale operation of the funds used in agricultural production. Under the existing institutional arrangement, the property mortgage financing in the rural areas of our country still is faced with many obstacles, and it is still at the stage of low level development. In this paper, closely based on the acceptability and the difficulty in the mortgaged property involving in legal disposal, the author puts forward important methods: clearly define the ownership, unify the urban and rural markets, increase the participation enthusiasm of financing bodies, and improve the supporting policies to promote property mortgage financing in rural area. Finally, the government should give farmers more property rights and revitalize the usufructuary right of agricultural land and its derivative right.

  17. PFI redux? Assessing a new model for financing hospitals.

    Hellowell, Mark

    2013-11-01

    There is a growing need for investments in hospital facilities to improve the efficiency and quality of health services. In recent years, publicly financed hospital organisations in many countries have utilised private finance arrangements, variously called private finance initiatives (PFIs), public-private partnerships (PPPs) or P3s, to address their capital requirements. However, such projects have become more difficult to implement since the onset of the global financial crisis, which has led to a reduction in the supply of debt capital and an increase in its price. In December 2012, the government of the United Kingdom outlined a comprehensive set of reforms to the private finance model in order to revive this important source of capital for hospital investments. This article provides a critical assessment of the 'Private Finance 2' reforms, focusing on their likely impact on the supply and cost of capital. It concludes that constraints in supply are likely to continue, in part due to regulatory constraints facing both commercial banks and institutional investors, while the cost of capital is likely to increase, at least in the short term. PMID:24138730

  18. Internationally Recommended Best Practices in Transportation Financing Public-Private Partnerships (P3s)

    Martin, Lawrence; Lawther, Wendell; Hodge, Graeme;

    2013-01-01

    internationally recommended best practices in transportation financing P3s. Based upon the study findings, a checklist in then proposed that can be used by U.S. state and local governments to assess their current or proposed transportation financing P3 policies and procedures. The article makes a contribution to...... the literature on transportation financing P3s by bringing together for the first time internationally recommended best practices in ten major areas....... sector partner designs-builds-finances-operates- maintains (DBFOM) a transportation infrastructure asset (road, highway, bridge, tunnel, etc.) with an emphasis on financing. Under this type of arrangement, the private sector partner is primarily responsible for securing all or substantially all of the...

  19. Financing, Overhead, and Profit: An In-Depth Discussion of Costs Associated with Third-Party Financing of Residential and Commercial Photovoltaic Systems

    Feldman, D.; Friedman, B.; Margolis, R.

    2013-10-01

    Previous work quantifying the non-hardware balance-of-system costs -- or soft costs -- associated with building a residential or commercial photovoltaic (PV) system has left a significant portion unsegmented in an 'other soft costs' category. This report attempts to better quantify the 'other soft costs' by focusing on the financing, overhead, and profit of residential and commercial PV installations for a specific business model. This report presents results from a bottom-up data-collection and analysis of the upfront costs associated with developing, constructing, and arranging third-party-financed residential and commercial PV systems. It quantifies the indirect corporate costs required to install distributed PV systems as well as the transactional costs associated with arranging third-party financing.

  20. Optimal Taxation and Risk-Sharing Arrangements in an Economic Federation

    Aronsson, Thomas; Wikström, Magnus

    2001-01-01

    This paper analyzes optimal taxation and risk-sharing arrangements in an economy with two levels of government. Both levels provide public goods and finance their expenditures via labor income taxation, where the tax base is responsive to the private agents' labor supply decisions. The localities are assumed to experience different random productivity shocks, meaning hat the private labor supply decisions as well as the choices of income tax rates are carried out under uncertainty. Part of th...

  1. Financing from ESF

    Hromková, Radka

    2010-01-01

    The thesis „Financing from the ESF“ deals with a study and description of a policy of economic and social cohesion, further the European Social Fund, its incorporation in a structure of European Union funds, its objectives and benefits. The second part of this thesis is to supply readers with valuable information and useful advice on how to act when preparing a project drawing subsidies from the European Social Fund. In the practical part of the thesis, all knowledge is applied to a concrete ...

  2. F# for quantitative finance

    Astborg, Johan

    2013-01-01

    To develop your confidence in F#, this tutorial will first introduce you to simpler tasks such as curve fitting. You will then advance to more complex tasks such as implementing algorithms for trading semi-automation in a practical scenario-based format.If you are a data analyst or a practitioner in quantitative finance, economics, or mathematics and wish to learn how to use F# as a functional programming language, this book is for you. You should have a basic conceptual understanding of financial concepts and models. Elementary knowledge of the .NET framework would also be helpful.

  3. My Life in Finance

    Eugene F. Fama

    2011-01-01

    I was invited by the editors to contribute a professional autobiography to the Annual Review of Financial Economics. I focus on what I think is my best stuff. Readers interested in the rest can download my vita from the Web site of the University of Chicago, Booth School of Business. I only briefly discuss ideas and their origins to give the flavor of context and motivation. I do not attempt to review the contributions of others, which is likely to raise feathers. Mea culpa in advance. Financ...

  4. Secular Patterns in Corporate Finance

    Robert A. Taggart, Jr.

    1981-01-01

    Trends in the financing of the corporate sector have been widely discussed in both business and academic circles. It is frequently argued, for example, that corporations' use of debt financing has increased dramatically in recent years. These discussions have been hampered, however, by the lack of a unified theoretical framework. In this paper, an attempt is made to develop such a framework using existing corporate finance theory and some extensions thereof. This theory is then used to interp...

  5. Financial Inclusion: Islamic Finance Perspective

    Mirakhor, Abbas; Iqbal, Zamir

    2012-01-01

    Enhancing financial inclusion or access to finance can make critical contributions to the economic development. Conventional mechanisms such as micro-finance, small-medium-enterprises (SME), and micro-insurance to enhance financial inclusion have been partially successful in enhancing the access and are not without challenges. Islamic finance, based on the concept of risk-sharing offers set of financial instruments promoting risk-sharing rather than risk-transfer in the financial system. In a...

  6. Trade Finance Affects Trade Dynamics

    ARESPA CASTELLÓ, Marta; Gruber, Diego

    2016-01-01

    Existent literature is by no means conclusive on the effects of trade finance on trade and the economy. We propose a suitable framework to explore the linkages between international trade and finance based on an international real business cycle model where firms require external finance to import and can be financially constrained. We find that credit shocks do affect the dynamic properties of the economy and they have the potential to cause significant deviations in trade and economic perfo...

  7. Trade finance: developments and issues

    Bank for International Settlements

    2014-01-01

    This report - prepared by a Working Group chaired by John Clark (Federal Reserve Bank of New York) - examines the structure and recent evolution of the global trade finance market, and the interplay between changes in trade finance and international trade. In particular, it reviews the available data sources and what they reveal about the size and evolution of the market, sheds light on the performance and impact of trade finance during recent episodes of funding strains in global markets, an...

  8. ISTISNA‘ FINANCING OF INFRASTRUCTURE PROJECTS

    ZARQA, MUHAMMAD ANAS

    1997-01-01

    Projects that do not generate explicit income cannot be possibly financed on a profit-sharing basis. A suitable interest-free alternative method of financing is presented here, based on istisna‘ sale contract (commissioned or pre-ordered productio). Various aspects of using istisna‘ as a financing tool for infrastructural projects are discussed, including: (a) the illiquidity of the resulting financial claims and its implications, (b) suitability for financial intermediaries, and (c) the poss...

  9. Survey of finance companies, 2000

    Karen E. Dynan; Kathleen W. Johnson; Samuel M. Slowinski

    2002-01-01

    Against a backdrop of robust economic activity, the finance company sector expanded briskly over the second half of the 1990s. The value of receivables held by finance companies in the United States rose nearly 50 percent, or about 11 percent a year, between 1996 and 2000. Business lending remained finance companies' major line of activity; the importance to the sector of consumer lending and leasing declined slightly, and the importance of real estate lending rose a bit. These and other find...

  10. Indirect financing can ease $ crunch

    Healy, T.J.

    1978-06-01

    The electric utility industry is moving toward indirect financing as a more promising way to raise the $500 to $600 billion in capital needed for expansion. Techniques of indirect financing include forming generating companies and construction trusts, leveraged leasing, and fuel-inventory financing. Some of the new strategies include forming independent or regional multi-sponsor companies, funding refuse-derived fuel or co-generation projects, imposing all-events full cost-of-service tariffs, mandating and financing residential conservation programs, and loan guarantees.

  11. Linearly arranged polytypic CZTSSe nanocrystals

    Fan, Feng-Jia; Wu, Liang; Gong, Ming; Chen, Shi You; Liu, Guang Yao; Yao, Hong-Bin; Liang, Hai-Wei; Wang, Yi-Xiu; Yu, Shu-Hong

    2012-01-01

    Even colloidal polytypic nanostructures show promising future in band-gap tuning and alignment, researches on them have been much less reported than the standard nano-heterostructures because of the difficulties involved in synthesis. Up to now, controlled synthesis of colloidal polytypic nanocrsytals has been only realized in II-VI tetrapod and octopod nanocrystals with branched configurations. Herein, we report a colloidal approach for synthesizing non-branched but linearly arranged polytypic I2-II-IV-VI4 nanocrystals, with a focus on polytypic non-stoichiometric Cu2ZnSnSxSe4−x nanocrystals. Each synthesized polytypic non-stoichiometric Cu2ZnSnSxSe4−x nanocrystal is consisted of two zinc blende-derived ends and one wurtzite-derived center part. The formation mechanism has been studied and the phase composition can be tuned through adjusting the reaction temperature, which brings a new band-gap tuning approach to Cu2ZnSnSxSe4-x nanocrystals. PMID:23233871

  12. LEASE FINANCING: A NEW DUAL APPROACH

    Cristina-Aurora, BUNEA-BONTAS

    2013-12-01

    Full Text Available Leasing is an important additional financing technique used by many companies, enabling them to use property, plant and equipment without making large initial cash outlays. It also provides flexibility, allowing entities to address obsolescence risks. Under current accounting rules, when referring to the operating leasing in particular, there is a lack of comparability between the financial position and operating results of companies that buy assets and the financial position and operating results of those that lease similar assets. This has led critics to assert that the current accounting does not portray the economics of lease arrangements. In response to this criticism, the IASB and FASB have developed a new approach to lease accounting that would require a lessee to recognise assets and liabilities for the rights and obligations created by leases, this providing greater transparency and comparability for financial statements users. On the other hand, the proposals will affect almost every company and the impact of the proposed changes may be significant, as recognising additional assets and liabilities and finance expense will affect key performance ratios and, consequently, the ability to satisfy debt covenants.

  13. Viscous Fluid Conduits as a Prototypical Nonlinear Dispersive Wave Platform

    Lowman, Nicholas K.

    This thesis is devoted to the comprehensive characterization of slowly modulated, nonlinear waves in dispersive media for physically-relevant systems using a threefold approach: analytical, long-time asymptotics, careful numerical simulations, and quantitative laboratory experiments. In particular, we use this interdisciplinary approach to establish a two-fluid, interfacial fluid flow setting known as viscous fluid conduits as an ideal platform for the experimental study of truly one dimensional, unidirectional solitary waves and dispersively regularized shock waves (DSWs). Starting from the full set of fluid equations for mass and linear momentum conservation, we use a multiple-scales, perturbation approach to derive a scalar, nonlinear, dispersive wave equation for the leading order interfacial dynamics of the system. Using a generalized form of the approximate model equation, we use numerical simulations and an analytical, nonlinear wave averaging technique, Whitham-El modulation theory, to derive the key physical features of interacting large amplitude solitary waves and DSWs. We then present the results of quantitative, experimental investigations into large amplitude solitary wave interactions and DSWs. Overtaking interactions of large amplitude solitary waves are shown to exhibit nearly elastic collisions and universal interaction geometries according to the Lax categories for KdV solitons, and to be in excellent agreement with the dynamics described by the approximate asymptotic model. The dispersive shock wave experiments presented here represent the most extensive comparison to date between theory and data of the key wavetrain parameters predicted by modulation theory. We observe strong agreement. Based on the work in this thesis, viscous fluid conduits provide a well-understood, controlled, table-top environment in which to study universal properties of dispersive hydrodynamics. Motivated by the study of wave propagation in the conduit system, we

  14. Empirical techniques in finance

    Bhar, Ramaprasad

    2005-01-01

    This book offers the opportunity to study and experience advanced empi- cal techniques in finance and in general financial economics. It is not only suitable for students with an interest in the field, it is also highly rec- mended for academic researchers as well as the researchers in the industry. The book focuses on the contemporary empirical techniques used in the analysis of financial markets and how these are implemented using actual market data. With an emphasis on Implementation, this book helps foc- ing on strategies for rigorously combing finance theory and modeling technology to extend extant considerations in the literature. The main aim of this book is to equip the readers with an array of tools and techniques that will allow them to explore financial market problems with a fresh perspective. In this sense it is not another volume in eco- metrics. Of course, the traditional econometric methods are still valid and important; the contents of this book will bring in other related modeling topics tha...

  15. Financing wind energy projects

    Triodos Bank has more than 10 years of experience with developing and financing wind projects in the Netherlands. Over 50 Megawatt has been installed with direct involvement of the bank. The experience is both as a bank and as a venture capital fund. In this contribution the perspective will be more from a venture capital point of view than as a bank. The bank's activities in the wind energy sector started in 1986 by forming a joint venture with an engineering bureau, experienced i wind energy but not yet in developing wind projects. From 1989 onwards the joint venture started to build wind farms, both as a private company and in a joint venture with utilities. The European Investment Bank became involved with a long-term debt finance facility (15 years, fixed interest loan). The main difficulties were long-term commitments from landowners (Dike authorities) and utilities with regard to power contracts. The development got really stuck when utilities refused to pay a fair price anymore. Also, site development became more and more difficult. Even the poor technical performance improved drastically and did not frighten developers and banks too much. (author)

  16. Innovating Development Finance : From Financing Sources to Financial Solutions

    Girishankar, Navin

    2009-01-01

    As early as 2000, development partners embarked on a decade-long search for "innovative" or alternative sources of Official Development Assistance to help finance achievement of the Millennium Development Goals. For their part, developing countries have sought not only more financial flows but better financial solutions, for example, through partnerships that mobilize private finance for p...

  17. Experimental investigations of aeration efficiency in high-head gated circular conduits.

    Cihat Tuna, M; Ozkan, Fahri; Baylar, Ahmet

    2014-01-01

    The primary purpose of water aeration is to increase the oxygen saturation of the water. This can be achieved by using hydraulic structures because of substantial air bubble entrainment at these structures. Closed conduit aeration is a particular instance of this. While there has been a great deal of research on air-demand ratio within closed conduit, very little research has specifically addressed aeration efficiency of closed conduit. In the present work an experimental study was conducted to investigate the aeration efficiency of high-head gated circular conduits. Results showed that high-head gated circular conduits were effective for oxygen transfer. The effects of Froude number and ratio of the water cross-sectional flow area to the conduit cross-sectional area on aeration efficiency were particularly significant, whereas the effect of conduit length was only moderate. Further, a design formula for the aeration efficiency was presented relating the aeration efficiency to ratio of water cross-sectional flow area to conduit cross-sectional area and Froude number. The obtained results will be useful in future modeling processes and aid the practicing engineer in predicting aeration efficiency for design purposes. PMID:24647194

  18. 78 FR 62351 - North Side Canal Company; Notice of Preliminary Determination of a Qualifying Conduit Hydropower...

    2013-10-18

    ... Qualifying Conduit Hydropower Facility and Soliciting Comments and Motions To Intervene On October 3, 2013, North Side Canal Company, filed a notice of intent to construct a qualifying conduit hydropower facility, pursuant to section 30 of the Federal Power Act, as amended by section 4 of the Hydropower...

  19. 78 FR 66355 - Pleasant Grove City, UT; Notice of Preliminary Determination of a Qualifying Conduit Hydropower...

    2013-11-05

    ... Conduit Hydropower Facility and Soliciting Comments and Motions To Intervene On October 22, 2013, as... a qualifying conduit hydropower facility, pursuant to section 30 of the Federal Power Act, as amended by section 4 of the Hydropower Regulatory Efficiency Act of 2013 (HREA). The 120 kW Battle...

  20. 78 FR 69847 - North Side Canal Company; Notice of Preliminary Determination of a Qualifying Conduit Hydropower...

    2013-11-21

    ... Qualifying Conduit Hydropower Facility and Soliciting Comments and Motions To Intervene On November 5, 2013, North Side Canal Company, filed a notice of intent to construct a qualifying conduit hydropower facility, pursuant to section 30 of the Federal Power Act, as amended by section 4 of the Hydropower...

  1. Hydraulic transients in pumping station-main conduit - Cooling tower systems

    The paper presented a method of starting up a pump with a partially filled main conduit allows to avoided filling the conduit with a low head and draining the pipeline followed by rotation of the pump in the opposite direction. This provides reduction of dynamic loads on the system elements and increases the reliability and time of the work

  2. Comparison of divided sciatic nerve growth within dermis, venous and nerve graft conduit in rat

    Mohammad Javad Fatemi

    2010-01-01

    Conclusions: In the present study, dermis was used as the nerve conduit for the first time. This study indicates that the dermal tube is not a suitable conduit for nerve regeneration till further studies to resolve the problems before clinical application.

  3. A one-dimensional heat-transport model for conduit flow in karst aquifers

    Long, A.J.; Gilcrease, P.C.

    2009-01-01

    A one-dimensional heat-transport model for conduit flow in karst aquifers is presented as an alternative to two or three-dimensional distributed-parameter models, which are data intensive and require knowledge of conduit locations. This model can be applied for cases where water temperature in a well or spring receives all or part of its water from a phreatic conduit. Heat transport in the conduit is simulated by using a physically-based heat-transport equation that accounts for inflow of diffuse flow from smaller openings and fissures in the surrounding aquifer during periods of low recharge. Additional diffuse flow that is within the zone of influence of the well or spring but has not interacted with the conduit is accounted for with a binary mixing equation to proportion these different water sources. The estimation of this proportion through inverse modeling is useful for the assessment of contaminant vulnerability and well-head or spring protection. The model was applied to 7 months of continuous temperature data for a sinking stream that recharges a conduit and a pumped well open to the Madison aquifer in western South Dakota. The simulated conduit-flow fraction to the well ranged from 2% to 31% of total flow, and simulated conduit velocity ranged from 44 to 353 m/d.

  4. Optimization and stability of a cable-in-conduit superconductor

    The optimization process for strand number and diameter, cable void fraction, and Cu/NbTi-ratio of the cable-in-conduit conductor for the superconducting magnet system of the planned stellarator fusion experiment Wendelstein 7-X is presented. Main optimization criteria are stability and cable cooling requirements, taking into account transient disturbances and losses. A simple stability criterion regarding transient disturbances is used which is derived from cable compression experiments. The resulting data for the 16 kA, 6 T cable are: cable and strand diameter ∼11.5 mm and ∼0.57 mm, respectively, strand number ∼250, void ∼36%, and Cu/sc-ratio ∼2.7

  5. Palliative urinary conduit diversion in cases of intolerable urinary discomfort

    Fifteen patients with incurable gynecological cancers, all primary radiation treated and all having severe urinary discomfort due to urinary tract injuries were retrospectively examined after urinary conduit diversion. All have been followed-up until termination or until all survivors had lived for 6 months after the operation. Twelve of the 15 were discharged from the hospital, 10 of whom survived the first 6 months. Of those discharged 82% of the cumulated sum of postoperative observations days was spent out of the hospital. At the end of the observation period nine patients had been supplied with a colostomy as well, thus having double stomas. All six patients still alive declared in retrospect that given the choice again, they would still be willing to undergo the operation

  6. Exchange rate arrangements from extreme to normal

    Emilija Beker

    2006-01-01

    The paper studies theoretical and empirical location dispersion of exchange rate arrangements - rigid-intermediate-flexible regimes, in the context of extreme arrangements of a currency board, dollarization and monetary union, moderate characteristics of intermediate arrangements (adjustable pegs, crawling pegs and target zones) and imperative-process normalization in the form of a managed or clean floating system. It is established that de iure and de facto classifications generate fear of f...

  7. Exchange rate arrangements from extreme to normal

    Beker Emilija

    2006-01-01

    The paper studies theoretical and empirical location dispersion of exchange rate arrangements - rigid-intermediate-flexible regimes, in the context of extreme arrangements of a currency board, dollarization and monetary union moderate characteristics of intermediate arrangements (adjustable pegs crawling pegs and target zones) and imperative-process "normalization" in the form of a managed or clean floating system. It is established that de iure and de facto classifications generate "fear of ...

  8. Flexible Working Time Arrangements in Bulgaria

    Beleva, Iskra

    2009-01-01

    The objective of this paper is to analyze the flexible working time arrangements in Bulgaria, using a life-course perspective. Two important features have to be outlined, namely: underdeveloped flexible forms of employment in the country, including working time arrangement, and lack of previous analysis on flexible working time arrangements from the angle of life-course perspective. The author describes the regulatory framework, collective agreements at national and company level as a frame w...

  9. Distributed measurement of flow rate in conduits using heated fiber optic distributed temperature sensing

    Sánchez, Raúl; Zubelzu, Sergio; Rodríguez-Sinobas, Leonor; Juana, Luis

    2016-04-01

    In some cases flow varies along conduits, such as in irrigated land drainage pipes and channels, irrigation laterals and others. Detailed knowledge of flow rate along the conduit makes possible analytical evaluation of water distribution and collection systems performance. Flow rate can change continuously in some systems, like in drainage pipes and channels, or abruptly, like in conduits bifurcations or emitter insertions. A heat pulse along the conduit makes possible to get flow rate from continuity and heat balance equations. Due to the great value of specific heat of water, temperature changes along conduit are smaller than the noise that involves the measurement process. This work presents a methodology that, dealing with the noise of distributed temperature measurements, leads to flow rate determination along pressurized pipes or open channel flows.

  10. Large-scale tests of insulated conduit for the ITER CS coil

    Reed, R. P.; Walsh, R. P.; Schutz, J. B.

    Compression-fatigue tests at 77 K were conducted on test modules of insulated Incoloy 908 conduit. To replicate the operating conditions for the ITER central solenoid (CS) full-scale coil, fatigue loads up to 3.6 MN were applied for 10 5 cycles; no mechanical breakdowns occurred. The conduits were insulated with a preimpregnated resin system, a tetraglycidyl diaminodiphenyl methane (TGDM) epoxy cured with DDS aromatic amine. The conduits were joined by vacuum-pressure impregnation with a diglycidyl ether of bisphenol-F epoxy/anhydride-cured resin system. In the 4×4 stacked-conduit test modules, the layer insulation (a high-pressure laminate of TGDM epoxy cured with DDS aromatic amine) was inserted. Periodically during the tests, breakdown voltage was measured across the conduits of both turn and layer insulation; throughout the test, breakdown voltages were at least 46 kV. The addition of a barrier increased structural and electrical reliability.

  11. Evaluation of PLGA/Chitosan/HA Conduits for Nerve Tissue Reconstruction

    SHEN Xiongjun; RUAN Jianming; ZHOU Zhongchi; ZENG Zhicheng; XIE Lesi

    2009-01-01

    A micro-envioment for nerve cells and tissue growth were designed and constructed via surface modification of poly(L-lactide-co-glycolide)(PLGA)with chitosan and hydroxyapa-tite(HA).The poly(L-lactide-co-glycolide)/chitosan/hydroxyapatite(PLGA/chitosan/HA)conduits were manufactured by a combined solvent casting and particulate leaching technique.The conduits were highly porous with an interconnected pore structure and 76.5%porosity.Micropores with 50-100 micrometer diameter were formed in the conduits.In vivo application of PLGA/chitosan/HA conduits for reconstruction of 10 mm sciatic nerve defect was assessed by the walking track analysis,the quantifying of the wet weight of tibialis anterior muscle and the histological assessment.The conduits in host rats in vivo can not only be an effective in promoting regenerating of nerves but can also lead to favorable nerve functional recovery.

  12. Economic Development and Islamic Finance

    IQBAL, ZAMIR; Mirakhor, Abbas

    2013-01-01

    Islamic finance has been practiced in some form since the inception of Islam, its practice in modern financial markets became recognized only in the 1980s, and began to represent a meaningful share of global financial activity only around the beginning of this century. In recent years, significant interest in Islamic finance has emerged in the world's leading conventional financial centers...

  13. The Possibilities of Strategic Finance

    Chaffee, Ellen

    2010-01-01

    Strategic finance is aligning financial decisions--regarding revenues, creating and maintaining institutional assets, and using those assets--with the institution's mission and strategic plan. The concept known as "strategic finance" increasingly is being seen as a useful perspective for helping boards and presidents develop a sustainable…

  14. Local financing through capital markets

    Alexandru, Ciprian Antoniade

    2007-01-01

    In this paper are presented results of research conducted to identify sources of financing alternatives for local community. The study includes an analysis of the present situation on the financing of investments by local municipal bonds. The paper ends with the presentation of the benefits of municipal bonds and proposals on the development of this market.

  15. Credit Reporting and Financing Constraints

    Love, Inessa; Mylenko, Nataliya

    2003-01-01

    The authors combine firm-level data from the World Bank Business Environment Survey (WBES) with data on private and public credit registries to investigate whether the presence of a credit registry in a country is associated with lower financing constraints, as perceived by managers, and with higher share of bank financing. They find that the existence of private credit registries is assoc...

  16. Mastering R for quantitative finance

    Berlinger, Edina; Badics, Milán; Banai, Ádám; Daróczi, Gergely; Dömötör, Barbara; Gabler, Gergely; Havran, Dániel; Juhász, Péter; Margitai, István; Márkus, Balázs; Medvegyev, Péter; Molnár, Julia; Szucs, Balázs Árpád; Tuza, Ágnes; Vadász, Tamás; Váradi, Kata; Vidovics-Dancs, Ágnes

    2015-01-01

    This book is intended for those who want to learn how to use R's capabilities to build models in quantitative finance at a more advanced level. If you wish to perfectly take up the rhythm of the chapters, you need to be at an intermediate level in quantitative finance and you also need to have a reasonable knowledge of R.

  17. Sanitation Finance in Rural Cambodia

    Robinson, Andy

    2012-01-01

    This document presents the findings of a study on sanitation finance in Cambodia conducted for the Water and Sanitation Program (WSP) with support from the Asian Development Bank (ADB). The overall objective of the assignment was to consider sustainable sanitation financing options with a focus on promoting access for the poorest. This guidance note contains an introduction on sanitation f...

  18. Solomon Islands : Health Financing Options

    Somanathan, Aparnaa

    2010-01-01

    The objective of this Policy Note is to provide an assessment of available options for financing health care in the Solomon Islands. In doing so, the analysis will factor in the country-specific economic, social and political factors, which will ultimately influence the performance of the health financing mechanisms. The Note was motivated by the Solomon Islands Government s (SIG) interest...

  19. Kosovo : Health Financing Reform Study

    World Bank

    2008-01-01

    The objective of this report is to present information on the different health financing reform options available to Kosovo, which can help the government to make informed policy decisions about financing reforms. The report focuses on the key insurance functions of revenue collection and management, risk pooling, and purchasing of health care, as well as the supportive regulatory and gove...

  20. Financing of the Development Project

    Moučková, Michaela

    2009-01-01

    The Bachelor thesis is dealing with the relevant questions to judge the usefulness of financing the development projects, especially the housing construction. It contains as well the recomended proposal of financing the Atrium Villas Císařka – II. stage of Akro Real, a.s. company.

  1. Financing electricity expansion

    Expansion of electricity supply is associated with economic development. The installation and enlargement of power systems in developing countries entails a huge financial burden, however. Energy consumers in such countries must pay not only for supplies but for the cost of raising the capital for expansion on the international markets. Estimates are presented for the capital expenditure for electricity supply over the period 1990 to 2020 for the major world regions, using approximations for the cost of plant and capital and for the returns earned. These data lead to the conclusion that the five regions with the lowest per capita incomes are those which will need the major part of the capital expenditure and the highest percentage of external finance. (6 tables) (UK)

  2. Romanian SMEs Financing Options:

    Ioan E. Nistor

    2013-11-01

    Full Text Available One of the most pressing problems faced by micro, small and medium sized enterprises (henceforth SMEs in Europe is the access to sufficient funds to sustain their long term growth. Romanian SMEs make no exception. In this context the present paper focuses on analyzing the extent to which external funding sources have contributed to the value added created by the Romanian SMEs between 2007 and 2011.The investigation’s results indicate the existence of a causal link between some forms of external financing (namely bank loans, leasing, factoring, guarantee products and European funds and the value added created by the Romanian micro, small and medium sized enterprises in the aforementioned period.

  3. Does literacy improve finance?

    Poon, Martha; Olen, Helaine

    2015-04-01

    When economists ask questions about basic financial principles, most ordinary people answer incorrectly. Economic experts call this condition "financial illiteracy," which suggests that poor financial outcomes are due to a personal deficit of reading-related skills. The analogy to reading is compelling because it suggests that we can teach our way out of population-wide financial failure. In this comment, we explain why the idea of literacy appeals to policy makers in the advanced industrial nations. But we also show that the narrow skill set laid out by economists does not satisfy the politically inclusive definition of literacy that literacy studies fought for. We identify several channels through which people engage with ideas about finance and demonstrate that not all forms of literacy will lead people to the educational content prescribed by academic economists. We argue that truly financial literate people can defy the demands of financial theory and financial institutions. PMID:25838274

  4. Statistics and finance an introduction

    Ruppert, David

    2004-01-01

    This textbook emphasizes the applications of statistics and probability to finance. Students are assumed to have had a prior course in statistics, but no background in finance or economics. The basics of probability and statistics are reviewed and more advanced topics in statistics, such as regression, ARMA and GARCH models, the bootstrap, and nonparametric regression using splines, are introduced as needed. The book covers the classical methods of finance such as portfolio theory, CAPM, and the Black-Scholes formula, and it introduces the somewhat newer area of behavioral finance. Applications and use of MATLAB and SAS software are stressed. The book will serve as a text in courses aimed at advanced undergraduates and masters students in statistics, engineering, and applied mathematics as well as quantitatively oriented MBA students. Those in the finance industry wishing to know more statistics could also use it for self-study. David Ruppert is the Andrew Schultz, Jr. Professor of Engineering, School of Oper...

  5. Debt relief and financing climate change action

    Fenton, Adrian; Wright, Helena; Afionis, Stavros; Paavola, Jouni; Huq, Saleemul

    2014-08-01

    Slow progress in scaling-up climate finance has emerged as a major bottleneck in international negotiations. Debt relief for climate finance swaps could provide an alternative source for financing mitigation and adaptation action in developing countries.

  6. 26 CFR 1.7701(l)-3 - Recharacterizing financing arrangements involving fast-pay stock.

    2010-04-01

    ... of a share of D Stock exceeds the price at which the shareholder can be compelled to dispose of the...'s issue price. Otherwise, the B Stock cannot be redeemed at either X's or the shareholder's option..., the number of shares). (B) Under paragraph (c)(2)(ii) of this section, the C Stock shareholders...

  7. The Finance of Primary Education in Ten OECD Countries: A Comparative Overview.

    Sherman, Joel D.

    1979-01-01

    This Center for Educational Research and Innovation (CERI) study was conducted in two phases. Phase I describes selected aspects of primary school finance arrangements in ten countries; Phase II examines the relationship between financial instruments and selected educational policy. Strengths and weaknesses of each system are assessed. (Author/KC)

  8. Adequacy, Efficiency and Equity of Higher Education Financing: The Case of Egypt

    Fahim, Yasmine; Sami, Noha

    2011-01-01

    To meet its future challenges in financing higher education, Egypt has no option but to search for alternative funding arrangements. This article considers the question of how to do so, keeping in mind the need to ensure equitable access to good quality education for those who cannot afford it. To this end, the article begins by assessing public…

  9. Decentralization in the Philippines : Stgrengthening Local Government Financing and Resource Management in the Short Term

    World Bank

    2004-01-01

    This report reviews two facets of decentralization currently engaging policy-makers: 1) the sources of financing under decentralization, and, 2) cross-cutting processes to strengthen the accountability of resource use. It does not assess whether decentralization is justified in the Philippines - it approaches the arrangements as they exist, and explicitly focuses on actions that could be f...

  10. Brief to the Canadian and Ontario Governments on the Financing of Higher Education in Canada.

    Council of Ontario Universities, Toronto.

    The Council of Ontario Universities, in view of important decisions to be made about the financing of university education, addresses a brief to the governments of Canada and Ontario. Discussed are: (1) the tripartite approach; (2) federal, provincial and university responsibilities; (3) federal-provincial funding arrangements; (4) the fiscal…

  11. Financing Infrastructure: A Spectrum of Country Approaches

    Sophia Chong; Emily Poole

    2013-01-01

    Over recent decades, there has been a shift away from public infrastructure financing towards private infrastructure financing, particularly in advanced economies. In this article, infrastructure financing in four countries – China, India, Australia and the United Kingdom – is examined to illustrate the different approaches taken by governments to finance infrastructure and encourage private financing. In all four countries, public financing of infrastructure remains significant, ranging from...

  12. Sharing of Risks in Islamic Finance

    Sekreter, Ahmet

    2011-01-01

    For most of the people the prohibition on interest is the well known part of Islamic finance. Indeed, the concept of Islamic finance was not being discussed enough till financial crisis, after crisis it started to be seen as an alternative financial system for conventional finance. Sharing the risks is the main concept of Islamic finance and one of the main differences between conventional and Islamic finance. Depositors/savers do not bear any risk in conventional finance however Islamic fina...

  13. Engineering a multimodal nerve conduit for repair of injured peripheral nerve

    Quigley, A. F.; Bulluss, K. J.; Kyratzis, I. L. B.; Gilmore, K.; Mysore, T.; Schirmer, K. S. U.; Kennedy, E. L.; O'Shea, M.; Truong, Y. B.; Edwards, S. L.; Peeters, G.; Herwig, P.; Razal, J. M.; Campbell, T. E.; Lowes, K. N.; Higgins, M. J.; Moulton, S. E.; Murphy, M. A.; Cook, M. J.; Clark, G. M.; Wallace, G. G.; Kapsa, R. M. I.

    2013-02-01

    Injury to nerve tissue in the peripheral nervous system (PNS) results in long-term impairment of limb function, dysaesthesia and pain, often with associated psychological effects. Whilst minor injuries can be left to regenerate without intervention and short gaps up to 2 cm can be sutured, larger or more severe injuries commonly require autogenous nerve grafts harvested from elsewhere in the body (usually sensory nerves). Functional recovery is often suboptimal and associated with loss of sensation from the tissue innervated by the harvested nerve. The challenges that persist with nerve repair have resulted in development of nerve guides or conduits from non-neural biological tissues and various polymers to improve the prognosis for the repair of damaged nerves in the PNS. This study describes the design and fabrication of a multimodal controlled pore size nerve regeneration conduit using polylactic acid (PLA) and (PLA):poly(lactic-co-glycolic) acid (PLGA) fibers within a neurotrophin-enriched alginate hydrogel. The nerve repair conduit design consists of two types of PLGA fibers selected specifically for promotion of axonal outgrowth and Schwann cell growth (75:25 for axons; 85:15 for Schwann cells). These aligned fibers are contained within the lumen of a knitted PLA sheath coated with electrospun PLA nanofibers to control pore size. The PLGA guidance fibers within the nerve repair conduit lumen are supported within an alginate hydrogel impregnated with neurotrophic factors (NT-3 or BDNF with LIF, SMDF and MGF-1) to provide neuroprotection, stimulation of axonal growth and Schwann cell migration. The conduit was used to promote repair of transected sciatic nerve in rats over a period of 4 weeks. Over this period, it was observed that over-grooming and self-mutilation (autotomy) of the limb implanted with the conduit was significantly reduced in rats implanted with the full-configuration conduit compared to rats implanted with conduits containing only an alginate

  14. Encoding and Decoding Procedures for Arrangements

    Alexander A. Babaev

    2012-05-01

    Full Text Available This article discusses an algorithm based on the encoding procedure for representing a set of arrangement elements as a single number. Also the author provides the procedure for the inverse transformation of the code into arrangement elements. In addition the Article includes recommendations on the use of the above procedures in combinatorial algorithms of optimization.

  15. The fundamental group of complex hyperplanes arrangements

    In this paper we suggest a new method to compute the fundamental group of the complemented of any complex hyperplanes arrangements. Our computation is based on a construction called labyrinth of an arrangement of complex lines. The method can be generalized for the case of an arbitrary affine curve. (author). 9 refs, 3 figs

  16. The making of local hospital discharge arrangements

    Burau, Viola; Bro, Flemming

    2015-01-01

    with doctors, nurses and secretaries conducted at two different stages in the process of the making of the local discharge arrangements. Results From the analysis, two distinct local models of discharge arrangements that connect more or less directly to existing professional practice emerge: an ‘add...

  17. Governance Arrangements for State Owned Enterprises

    Vagliasindi, Maria

    2008-01-01

    The aim of this paper is to shed new light on key challenges in governance arrangements for state owned enterprises in infrastructure sectors. The paper provides guidelines on how to classify the fuzzy and sometimes conflicting development goals of infrastructure and the governance arrangements needed to reach such goals. Three policy recommendations emerge. First, some of the structures i...

  18. Degradation properties of the electrostatic assembly PDLLA/CS/CHS nerve conduit

    A poly(d,l-lactic acid)/chondroitin sulfate/chitosan (PDLLA/CS/CHS) nerve conduit for repairing nerve defects was prepared by electrostatic assembly and the thermally induced phase separation technique. The hydrophilic characteristics of the PDLLA/CS/CHS assembly nerve conduits were improved markedly. The degradation behavior of the nerve conduit with various assembly layers was evaluated by a pH change, weight loss rate and molecular weight change. The pH of the solution of the nerve conduit could be effectively adjusted by varying the layer numbers and overcoming the acidity-caused auto-acceleration of PDLLA; the nerve conduit can retain its integrity in a phosphate buffer solution after being degraded for 3 months. After such a conduit was implanted in the rat for 3 months, obvious degradation occurred, but the regenerated nerve was integrated and it grew successfully from the proximal to distal nerve stump. All these results implied that the degradation rate of the prepared conduit can adapt to the regeneration of the peripheral nerve, which might be a new derivative of PDLLA-based biodegradable materials for repairing nerve injuries without acidity-caused irritations and acidity-induced auto-accelerating degradation behavior as shown by PDLLA.

  19. Financing long term liabilities

    In the '80 even if there were no precise law disposition in this specific matter, Enel has created a fund for the plants decommissioning and a fund for the irradiated fuel management. A setting aside pluri-annual plan has been defined. Cumulated funds transferred to the Sogin at the date of its constitution amount to about 1500 MLD ITL (750 M Euro). This amount was adequate to complete decommissioning activities within the Safe Store strategy. Following the separation of Sogin from Enel, a funding mechanism has been defined to provide resources for additional costs deriving from the different economic conditions (new discount rate and taxes), from the management costs for the new company, and from the change in strategy (from Safe Store to DECON). A Decree of the Ministry of the Industry, issued on 26 January 2000, states that the above mentioned extra costs for Sogin shall be financed on a levy on the price of the sold kWh. Every year Sogin shall present the program of future activities, with associated costs: on this basis, the national Authority for Electric energy and Gas (the national body which defines tariff policy) shall re-evaluate the global amount to be granted to Sogin and the levy on the price of the kWh due to Sogin for next three years. The re-evaluation will take into account economic efficiency criteria. For the period 2002- 2004 the Authority has defined a global amount of about 362 M euros to be granted to Sogin, corresponding to ∼0,04 cents of Euro per kWh. The same procedure is foreseen by the Decree in order to finance Sogin for additional costs related to the dismantling of nuclear installations now property of ENEA. In this context, a Consortium between ENEA and Sogin has been established. The Authority for the period 2002-2004 has defined a global amount of about 106 M euros to be granted to the Consortium, corresponding to ∼0,015 cents of Euro per kWh. (author)

  20. Proliferation Networks and Financing

    The objective of this study is to propose practical solutions aimed at completing and strengthening the existing arrangement for the control of nuclear proliferation through a control of financial as well as material or immaterial flows. In a first part, the author proposes a systemic analysis of networks of suppliers and demanders. He notably evokes the Khan's network and the Iraqi acquisition network during the 1993-2001 period. He also proposes a modelling of proliferation networks (supplier networks and acquisition networks) and of their interactions. In a second part, the author examines possible means and policies aimed at neutralising proliferation networks: organisation, adaptation and improvement of intelligence tools in front of proliferation networks, and means, limitations and perspectives of network neutralisation. He also briefly addresses the possibility of military action to contain proliferation flows

  1. Behavioural Finance: Theory and Survey

    Daiva Jurevičienė

    2013-04-01

    Full Text Available The paper analyses the importance of behavioural finance theories in household decision-making process. Behavioural finance theories investigate emotional characteristics to explain subjective factors and irrational anomalies in financial markets. In this regard, behavioural theories and behavioural anomalies in the decision-making process are examined; the application opportunities in the financial market are described. The aim of investigation is to determine the basic features and slopes of behavioural finance in concordance with financial decisions of a household. The survey method was applied to ascertain financial behaviour of literate households.

  2. PUBLIC FINANCING OF HEALTHCARE SERVICES

    Agnieszka Bem

    2013-10-01

    Full Text Available Healthcare in Poland is mainly financed by public sector entities, among them the National Health Fund (NFZ, state budget and local government budgets. The task of the National Health Fund, as the main payer in the system, is chiefly currently financing the services. The state budget plays a complementary role in the system, and finances selected groups of services, health insurance premiums and investments in healthcare infrastructure. The basic role of the local governments is to ensure access to the services, mostly by performing ownership functions towards healthcare institutions.

  3. Representation of water abstraction from a karst conduit with numerical discrete-continuum models

    T. Reimann

    2013-04-01

    Full Text Available Karst aquifers are characterized by highly conductive conduit flow paths embedded in a less conductive fissured and fractured matrix resulting in strong permeability contrasts with structured heterogeneity and anisotropy. Groundwater storage occurs predominantly in the fissured matrix. Hence, most karst models assume quasi steady-state flow in conduits neglecting conduit associated drainable storage (CADS. The concept of CADS considers storage volumes, where karst water is not part of the active flow system but rather hydraulically connected to conduits (for example karstic voids and large fractures. The disregard of conduit storage can be inappropriate when direct water abstraction from karst conduits occurs, e.g. large scale pumping. In such cases, CADS may be relevant. Furthermore, the typical fixed head boundary condition at the karst outlet can be inadequate for water abstraction scenarios because unhampered water inflow is possible. The objective of this paper is to analyze the significance of CADS and flow-limited boundary conditions on the hydraulic behavior of karst aquifers in water abstraction scenarios. To this end, the numerical hybrid model MODFLOW-2005 Conduit Flow Process Mode 1 (CFPM1 is enhanced to account for CADS. Additionally, a fixed-head limited-flow (FHLQ boundary condition is added that limits inflow from constant head boundaries to a user-defined threshold. The affect and proper functioning of these modifications is demonstrated by simplified model studies. Both enhancements, CAD storage and the FHLQ boundary, are shown to be useful for water abstraction scenarios within karst aquifers. An idealized representation of a large-scale pumping test in a karst conduit is used to demonstrate that the enhanced CFPM1 is potentially able to adequately represent water abstraction processes in both the conduits and the matrix of real karst systems.

  4. Access to Finance Thresholds and the Finance-Growth Nexus

    Ben Jelili, Riadh; Abdmoulah, Walid

    2013-01-01

    Based on Aghion et al. (2005), this article provides new insights regarding whether financial development can affect economic growth non-linearly by adopting the concept of threshold effects. The empirical approach adopted in this article allows for the finance-growth relationship to be piecewise linear with a set of indicators including access to finance acting as a regime-switching trigger. Using cross-country observations from 144 countries stretching from 1985 to 2009, strong evidence of ...

  5. The Private Finance Initiative and public sector finance

    Rob Ball; Maryanne Heafey; David King

    2002-01-01

    Traditionally, when the public sector wanted more capital assets, it borrowed funds for the purpose. Under the Private Finance Initiative (PFI), private consortia borrow funds to build assets and then, in return for a charge, use them to provide services for the public sector. The authors explore the implications for the public finances of using the PFI. A widely held belief, which has been put forward by the Treasury, is that using the PFI allows investment in assets used by the public secto...

  6. Fiscal Content of Financial Programs Supported by Stand-by Arrangements in the Upper Credit Tranches, 1969-78 (Objectifs de finances publiques des programmes financiers soutenus par des accords de confirmation portant sur les tranches de crédit supérieures, 1969-78) (Componentes fiscales de los programas financieros respaldados por acuerdos de derecho de giro en los tramos superiores de crédito, 1969-78)

    W. A. Beveridge; Margaret R. Kelly

    1980-01-01

    The paper catalogs and analyzes the fiscal policy content of financial programs under the 105 stand-by arrangements in the upper credit tranches approved by the Fund's Executive Board in the ten years to 1978. A growing tendency toward use of a fiscal performance clause was observed, with the most usual clauses being the use of bank credit by the government or the size of the overall budget balance. Evidence is presented indicating a close association between observance of the fiscal performa...

  7. Republic of Congo; 2008 Article IV Consultation, Requests for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries, and Financing Assurances Review: Staff Report; Staff Statement and Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Congo

    International Monetary Fund

    2009-01-01

    The staff report for the Republic of Congo’s combined 2008 Article IV Consultation and Requests for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility is discussed. To enhance external viability, the authorities recognize the need to improve competitiveness, raise output growth through diversification, and consolidate the fiscal position. The authorities are making a concerted effort to improve the business climate, liberalize trade, deepen financial intermediation, co...

  8. Financing Hierarchy, Financial Market Constraints, Leverage and Investment Financing in a Low-Income Developing Country

    Johnson, Omotunde E G

    1992-01-01

    A debt-service constraint and co-financing requirement for outside equity financing are incorporated into a financing hierarchy framework in which firms behave as if they prefer inside to outside financing and debt to equity when they use outside financing. The constraints place both a floor and a ceiling on the ratios of debt to outside financing and a ceiling on the ration of outside equity to outside finance. If creditors and outside investor act in concert, under certain conditions, they ...

  9. Transcatheter Pulmonary Valve Replacement for Right Ventricular Outflow Tract Conduit Dysfunction After the Ross Procedure

    Gillespie, Matthew J; McElhinney, Doff B; Kreutzer, Jacqueline; Hellenbrand, William E; El-Said, Howaida; Ewert, Peter; Rhodes, John F; Søndergaard, Lars; Jones, Thomas K

    2015-01-01

    BACKGROUND: Right ventricular outflow tract (RVOT) conduit dysfunction is a limitation of the Ross procedure. Transcatheter pulmonary valve replacement (TPVR) could alter the impact of conduit dysfunction and the risk-benefit balance for the Ross procedure. METHODS: Retrospective review of...... databases from 3 prospective Melody TPV (Medtronic Inc, Minneapolis, MN) trials. RESULTS: Among 358 patients who were catheterized with the intent to implant a Melody TPV for RVOT conduit stenosis or regurgitation (PR) as part of 3 prospective multicenter studies, 67 (19%) had a prior Ross procedure. Of...

  10. Bricker's ileal conduit urinary diversion with a simple non-refluxing uretero ileal anastomosis

    Bernstein, I T; Bennicke, K; Rørdam, P;

    1991-01-01

    Fifty consecutive patients had ileal conduits constructed with a technically and quick simple antireflux ureteroileal anastomosis. Complications related to the ureteral implantation were studied retrospectively, and at follow-up (8 months-12 years later, median 3 years) conduit dysfunction and ur...... from 300 to 420 mumol/l. Partial ureteral reflux was present in three (2 patients) of 33 ureters studied and minimal conduit dysfunction was found in 8 patients. In conclusion we find this method of urinary diversion to be quick, easy, and safe....

  11. Computing for Finance

    CERN. Geneva

    2007-01-01

    The finance sector is one of the driving forces for the use of distributed or Grid computing for business purposes. The speakers will review the state-of-the-art of high performance computing in the financial sector, and provide insight into how different types of Grid computing – from local clusters to global networks - are being applied to financial applications. They will also describe the use of software and techniques from physics, such as Monte Carlo simulations, in the financial world. There will be four talks of 20min each. The talk abstracts and speaker bios are listed below. This will be followed by a Q&A panel session with the speakers. From 19:00 onwards there will be a networking cocktail for audience and speakers. This is an EGEE / CERN openlab event organized in collaboration with the regional business network rezonance.ch. A webcast of the event will be made available for subsequent viewing, along with powerpoint material presented by the speakers. Attendance is free and open to all. R...

  12. A conduit dilation model of methane venting from lake sediments

    Scandella, B.P.; Varadharajan, C.; Hemond, Harold F.; Ruppel, C.; Juanes, R.

    2011-01-01

    Methane is a potent greenhouse gas, but its effects on Earth's climate remain poorly constrained, in part due to uncertainties in global methane fluxes to the atmosphere. An important source of atmospheric methane is the methane generated in organic-rich sediments underlying surface water bodies, including lakes, wetlands, and the ocean. The fraction of the methane that reaches the atmosphere depends critically on the mode and spatiotemporal characteristics of free-gas venting from the underlying sediments. Here we propose that methane transport in lake sediments is controlled by dynamic conduits, which dilate and release gas as the falling hydrostatic pressure reduces the effective stress below the tensile strength of the sediments. We test our model against a four-month record of hydrostatic load and methane flux in Upper Mystic Lake, Mass., USA, and show that it captures the complex episodicity of methane ebullition. Our quantitative conceptualization opens the door to integrated modeling of methane transport to constrain global methane release from lakes and other shallow-water, organic-rich sediment systems, and to assess its climate feedbacks.

  13. Structure of a Bacterial Cell Surface Decaheme Electron Conduit

    Clarke, Thomas A.; Edwards, Marcus; Gates, Andrew J.; Hall, Andrea; White, Gaye; Bradley, Justin; Reardon, Catherine L.; Shi, Liang; Beliaev, Alex S.; Marshall, Matthew J.; Wang, Zheming; Watmough, Nicholas; Fredrickson, Jim K.; Zachara, John M.; Butt, Julea N.; Richardson, David J.

    2011-05-23

    Some bacterial species are able to utilize extracellular mineral forms of iron and manganese as respiratory electron acceptors. In Shewanella oneidensis this involves deca-heme cytochromes that are located on the bacterial cell surface at the termini of trans-outermembrane (OM) electron transfer conduits. The cell surface cytochromes can potentially play multiple roles in mediating electron transfer directly to insoluble electron sinks, catalyzing electron exchange with flavin electron shuttles or participating in extracellular inter-cytochrome electron exchange along ‘nanowire’ appendages. We present a 3.2 Å crystal structure of one of these deca-heme cytochromes, MtrF, that allows the spatial organization of the ten hemes to be visualized for the first time. The hemes are organized across four domains in a unique crossed conformation, in which a staggered 65 Å octa-heme chain transects the length of the protein and is bisected by a planar 45 Å tetra-heme chain that connects two extended Greek key split β-barrel domains. The structure provides molecular insight into how reduction of insoluble substrate (e.g. minerals), soluble substrates (e.g. flavins) and cytochrome redox partners might be possible in tandem at different termini of a trifurcated electron transport chain on the cell surface.

  14. A New Kind of Finance

    Maymin, Philip Z.

    2012-01-01

    Finance has benefited from the Wolfram's NKS approach but it can and will benefit even more in the future, and the gains from the influence may actually be concentrated among practitioners who unintentionally employ those principles as a group.

  15. The securitization of housing finance

    Gordon H. Sellon; Deana VanNahmen

    1988-01-01

    Since 1970, housing finance has undergone a radical transformation due to the securitization of mortgage loans. As the market for mortgage securities continues to grow and develop, this transformation raises a number of important public policy issues.

  16. Corruption, Growth, and Public Finances

    Vito Tanzi; Hamid Reza Davoodi

    2000-01-01

    The paper discusses some channels through which corruption affects growth such as the impact of corruption on enterprises, on the allocation of talent, and on investment. It also discusses the impact of corruption on some aspects of public finance.

  17. Quantum Game Theory in Finance

    Piotrowski, Edward W.; Jan Sladkowski

    2004-01-01

    This is a short review of the background and recent development in quantum game theory and its possible application in economics and finance. The intersection of science and society is also discussed. The review is addressed to non--specialists.

  18. Issues in Financing the Superfund

    Brazell, David W.; Gerardi, Geraldine

    1994-01-01

    Discussion of Superfund financing sources and litigation costs, and review of design issues related to an insurer fee that would pay for proposed litigation reform. Benefits-received, ability-to-pay, and economic efficiency evaluations are included.

  19. Major Issues in School Finance

    McLure, William P.

    1969-01-01

    Interprets the contemporary issues in school finance as functions of three phenomena: (1) Educational needs of individuals and society, (2) governance, and (3) ecological characteristics of the population. (DE)

  20. Exchange rate arrangements: From extreme to "normal"

    Beker Emilija

    2006-01-01

    Full Text Available The paper studies theoretical and empirical location dispersion of exchange rate arrangements - rigid-intermediate-flexible regimes, in the context of extreme arrangements of a currency board, dollarization and monetary union moderate characteristics of intermediate arrangements (adjustable pegs crawling pegs and target zones and imperative-process "normalization" in the form of a managed or clean floating system. It is established that de iure and de facto classifications generate "fear of floating" and "fear of pegging". The "impossible trinity" under the conditions of capital liberalization and globalization creates a bipolar view or hypothesis of vanishing intermediate exchange rate regimes.

  1. Arrangement and Description of the CERN Archive

    Hollier, Anita

    2005-01-01

    This paper describes recent work on the arrangement and description of the CERN Archive. In order to improve access a shelf list was created and then adapted to become a Guide for public use. A functional arrangement was chosen for the Guide, in the hope that this would accommodate ongoing reorganisations and would grow with CERN. A re-evaluation of this approach was carried out 18 months later, and produced several improvements. It also raised a number of questions concerning the theoretical basis for some of the decisions taken about archival arrangement, and suggested ideas for future directions.

  2. Corporate Finance and Financial Institutions

    Mark J. Flannery

    2012-01-01

    Many corporate finance researchers have avoided analyzing financial institutions, perhaps on the grounds that they are “unique” or “different” from other types of firms. This assessment reflects some unusual features of financial firms' liabilities and a set of governmental regulatory restrictions that have become less pervasive in recent years. In fact, corporate finance theory applies equally well to financial firms, although some modifications are required to recognize the effects of gover...

  3. Behavioral Corporate Finance: A Survey

    Malcolm Baker; Richard S. Ruback; Jeffrey Wurgler

    2004-01-01

    Research in behavioral corporate finance takes two distinct approaches. The first emphasizes that investors are less than fully rational. It views managerial financing and investment decisions as rational responses to securities market mispricing. The second approach emphasizes that managers are less than fully rational. It studies the effect of nonstandard preferences and judgmental biases on managerial decisions. This survey reviews the theory, empirical challenges, and current evidence per...

  4. The epistemology of modern finance

    De Scheemaekere, Xavier

    2006-01-01

    Modern finance is a social science where the complexity of mathematical models compares to that of physics. The aim of this paper is to provide a conceptual framework for the interpretation of mathematical models in finance, in order to determine the epistemological standards according to which financial theory must be assessed. The analysis enlightens the contrast between highly objective results and the radical uncertainty that governs the markets. The main contribution of the paper is to s...

  5. Financing Property's Contribution to Regeneration

    Alastair Adair; Jim Berry; Stanley McGreal

    2003-01-01

    Attracting investment and finance into inner-city and other renewal areas poses particular difficulties and is frequently reliant on strong public-sector commitment through special incentives or other mechanisms to provide the conditions to lever private-sector activity. This paper initially links the concept of market failure and the rationale for regeneration and examines policy responses from UK, European and US perspectives, followed by a consideration of public- and private-sector financ...

  6. Development assistance and climate finance

    Arndt, Channing

    2015-01-01

    The distinction between development assistance and climate finance is driven by an optic of compensation largely derived from the 'polluter pays' principle. For practical as well as conceptual reasons, this principle provides a weak basis for climate finance. The distinction also cuts against the need to holistically consider developmental, adaptation, and mitigation policies and naturally focuses on government-to-government flows despite the manifest need to catalyse non-official sources of ...

  7. Vertical Integration and Supplier Finance

    Kersting, Erasmus; Görg, Holger

    2014-01-01

    We investigate the financial implications of a multinational firm's choice between outsourcing and integration from the perspective of the supplier. Using a simple model, we explore the extent to which an integrated supplier's access to finance, as well as its sources of funding, change relative to a firm supplying a multinational at arm's-length. The model predicts that integrated firms have better access to finance and cover a larger share of their costs using internal funds. Furthermore, i...

  8. Wind power: valuation and finance

    The past 20 years of wind energy experience in Denmark has primarily been based upon three financing schemes, tailored to individually owned, guild owned and utility owned wind turbines. The merits of and problems with these schemes are discussed, as well as their relations to specific legislation regarding e.g. taxation. It is finally explored, whether new forms of organisation, valuation and financing may be needed. (author)

  9. Financing as a Marketing Strategy

    S. Hun Seog; Hyun, Yong J

    2009-01-01

    This paper investigates the issues concerning a film producer that finances production costs not only by the conventional funding from an institutional investor, but also by “Internet funding,” financing through the Internet from so-called netizen investors. In Internet funding, netizen investors engage in word-of-mouth activities. Assuming that information asymmetry exists between the producer and investors, we investigate how the Internet funding size varies with the word-of-mouth effect, t...

  10. Debt Financing in Asset Markets

    Zhiguo He; Wei Xiong

    2012-01-01

    We study rollover risk and collateral value in a dynamic asset pricing model with endogenous debt financing by extending the framework of Geanakoplos (2009) with a generic binomial tree and time-varying heterogeneous beliefs. Optimistic borrowers face rollover risk if the belief dispersion between the borrowers and the pessimistic lenders widens after interim bad news. We demonstrate the optimality of the maximum riskless short-term debt financing for optimistic borrowers even in the presence...

  11. Project finance for alternative energy

    This paper is intended to provide general advice to sponsors of renewable energy projects who expect to raise project-based financing from commercial banks to fund the development of their projects. It will set out, for the benefit of such sponsors, how bankers typically approach the analysis of these undertakings and in particular the risk areas on which they concentrate. By doing so it should assist sponsors to maximise their prospects of raising bank finance. (author)

  12. Overvalued equity and financing decisions

    DONG Ming; Hirshleifer, David; Teoh, Siew Hong

    2012-01-01

    We test whether and how equity overvaluation affects corporate financing decisions using an ex ante misvaluation measure that filters firm scale and growth prospects from market price. We find that equity issuance and total financing increase with equity overvaluation; but only among overvalued stocks; and that equity issuance is more sensitive than debt issuance to misvaluation. Consistent with managers catering to maintain overvaluation and with investment scale economy effects, the sensiti...

  13. Corporate Finance and Comparative Advantage

    Keuschnigg, Christian; Egger, Peter

    2009-01-01

    Since innovative firms are often financially constrained, access to external funds is important for the expansion of innovative industries. This paper reports four important results. First, comparative advantage is shaped by factor endowments as well as fundamental determinants of corporate finance. In particular, a larger equity ratio of firms and tough governance standards relax finance constraints and create a comparative advantage in innovative industries. Second, factor price equalizatio...

  14. Computational analytics for venture finance

    Stone, T. R.

    2014-01-01

    This thesis investigates the application of computational analytics to the domain of venture finance – the deployment of capital to high-risk ventures in pursuit of maximising financial return. Traditional venture finance is laborious and highly inefficient. Whilst high street banks approve (or reject) personal loans in a matter of minutes It takes an early-stage venture capital (VC) firm months to put a term sheet in front of a fledgling new venture. Whilst these are fundamentally different ...

  15. Finance Applications of Game Theory

    Franklin Allen; Stephen Morris

    1998-01-01

    Traditional finance theory based on the assumptions of symmetric information and perfect and competitive markets has provided many important insights. These include the Modigliani and Miller Theorems, the CAPM, the Efficient Markets Hypothesis and continuous time finance. However, many empirical phenomena are difficult to reconcile with this traditional framework. Game theoretic techniques have allowed insights into a number of these. Many puzzles remain. This paper argues that recent advance...

  16. SABER-School Finance : Data Collection Instrument

    World Bank

    2015-01-01

    The aim of the SABER-school finance initiative is to collect, analyze and disseminate comparable data about education finance systems across countries. SABER-school finance assesses education finance systems along six policy goals: (i) ensuring basic conditions for learning; (ii) monitoring learning conditions and outcomes; (iii) overseeing service delivery; (iv) budgeting with adequate an...

  17. SABER-School Finance: Data Collection Instrument

    King, Elizabeth; Patrinos, Harry; Rogers, Halsey

    2015-01-01

    The aim of the SABER-school finance initiative is to collect, analyze and disseminate comparable data about education finance systems across countries. SABER-school finance assesses education finance systems along six policy goals: (i) ensuring basic conditions for learning; (ii) monitoring learning conditions and outcomes; (iii) overseeing…

  18. 12 CFR 226.4 - Finance charge.

    2010-01-01

    ... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Finance charge. 226.4 Section 226.4 Banks and... LENDING (REGULATION Z) General § 226.4 Finance charge. (a) Definition. The finance charge is the cost of...) Charges by third parties. The finance charge includes fees and amounts charged by someone other than...

  19. 48 CFR 32.109 - Termination financing.

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Termination financing. 32... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.109 Termination financing. To encourage contractors to invest their own funds in performance despite the susceptibility...

  20. 24 CFR 882.405 - Financing.

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financing. 882.405 Section 882.405... § 882.405 Financing. (a) Types. Any type of public or private financing may be utilized with the... Contract as security for financing. An Owner may pledge, or offer as security for any loan or...

  1. 13 CFR 120.476 - Prohibited financing.

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Prohibited financing. 120.476... Business Lending Companies (sblc) § 120.476 Prohibited financing. An SBLC may not make a loan to a small business that has received financing (or a commitment for financing) from an SBIC that is an Associate...

  2. 48 CFR 12.210 - Contract financing.

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Contract financing. 12.210... financing. Customary market practice for some commercial items may include buyer contract financing. The contracting officer may offer Government financing in accordance with the policies and procedures in part 32....

  3. The financing of nuclear power plants

    Existing nuclear generating capacity plays an important role in providing secure, economic and low-carbon electricity supplies in many OECD countries. At the same time, there is increasing recognition that an expansion of nuclear power could play a valuable role in reducing future carbon dioxide emissions. However, in recent years only a handful of new nuclear power plants (NPPs) have been built in just a few OECD countries. An important reason for this is the challenges associated with financing the construction of new NPPs. The just-published NEA report entitled The Financing of Nuclear Power Plants examines these challenges. In addition, recognizing that any expansion of nuclear power programmes will require strong and sustained government support, the report highlights the role of governments in facilitating and encouraging investment in new nuclear capacity. Key actions that should be considered by governments that wish to see investment in new NPPs include: - Provide clear and sustained policy support for the development of nuclear power, by setting out the case for a nuclear component in energy supply as part of a long-term national energy strategy. - Work with electricity utilities, financial companies and other potential investors, and the nuclear industry from an early stage to address concerns that may prevent nuclear investment and to avoid mistakes in establishing the parameters for new NPPs. - Establish an efficient and effective regulatory system which provides adequate opportunities for public involvement in the decision-making process, while also providing potential investors with the certainty they require to plan such a major investment. - Put arrangements in place for the management of radioactive waste and spent fuel, and show progress towards a solution for final disposal of waste. For investors in NPPs, the financial arrangements for paying their fair share of the costs must be clearly defined. - Ensure that electricity market regulation does

  4. MRI of the heart following implantation of a left ventricular apico-aortic conduit; Kernspintomografie zur umfassenden Untersuchung des Herzens nach Implantation von linksventrikulaeren apikoaortalen Conduits

    Ruhl, K.M.; Katoh, M.; Guenther, R.W.; Krombach, G.A. [Technische Hochschule Aachen (Germany). Klinik fuer Radiologische Diagnostik; Langebartels, G.; Autschbach, R. [Technische Hochschule Aachen (Germany). Klinik fuer Thorax-, Herz- und Gefaesschirurgie

    2007-06-15

    Purpose: To investigate the potential of ECG-triggered MRI for the evaluation of postoperative anatomy and function of the heart and conduit following implantation of a left-ventricular apico-aortic conduit. Materials and Methods: 5 patients (2 female, 3 male, mean age 72.5 years) were examined using a 1.5 Tesla whole-body MRI (Gyroscan Intera, Philips Medical Systems, Best, The Netherlands) following apico-aortic conduit surgery due to severe aortic valve stenosis. The reason for performing conduit implantation instead of aortic valve replacement was the risk of injuring a bypass graft from prior coronary artery bypass surgery. Cine steady-state-free-precession (SSFP) sequences were used to assess ventricular function, navigator-gated 3D-SSFP and breath-hold, time-resolved contrast-enhanced MR angiography was used to display the postoperative anatomy, and 2D-gradient echo sequences with an inversion pulse to suppress the signal of the healthy myocardium were used to evaluate potential myocardial scarring. Flow sensitive gradient echo sequences were performed to determine the blood flow in the conduit. Results: In all patients the apico-aortic conduit proved to be open with a maximum flow velocity of 126 (+ 43) cm/s. The postoperative anatomy was able to be evaluated in all patients and perioperative myocardial infarction was able to be ruled out. The mean ejection fraction of the left ventricle was 44.2 + 6.2 % with a mean volume of 80 + 20.6 ml per heart beat. (orig.)

  5. Issues in energy finance

    Khokher, Zeigham Islam

    As opposed to the well developed and understood equity markets, the energy markets are still in their infancy. The explosion of contracts, of both the primary and derivative types, are testament both to the existing size and the untapped growth potential of this exciting industry. However, because of its relative youth many basic issues in the energy markets remain unresolved. This thesis introduces some interesting questions and provides insights into these issues. Thematically, the chapters of this thesis are linked by an emphasis on valuation and risk management decisions. A contribution of this thesis is to show that subtle differences between the endogenous price process in our general equilibrium setting and the exogenous processes considered in earlier papers can generate significant differences in both financial and real option values. In addition to these valuation concerns there has been much debate about the corporate risk management function. Finance theory suggests that a value maximizing corporation should either be indifferent to hedging or, in the presence of certain imperfections, it should completely hedge all exposures. Both these extremes contradict empirical evidence. We show that existing corporate hedging behaviour is best explained in light of both physical market imperfections and directional predictions on future prices. While these speculative motives may arise from corporate hubris or genuine informational advantages, we argue that it would be difficult to implement private information in the absence of noise traders. Related to the risk management decision is the existence of futures risk premia. These premia have been thought to be cause by covariance with priced factors or due to the hedging demands of consumers and producers. This thesis argues that inventories serve as a signal of available quantity, which coupled with consumers fears regarding stockouts can induce a positive relationship between premia and inventories. In

  6. Flood risk governance arrangements in Europe

    Matczak, P.; Lewandowski, J.; Choryński, A.; Szwed, M.; Kundzewicz, Z. W.

    2015-06-01

    The STAR-FLOOD (Strengthening and Redesigning European Flood Risk Practices Towards Appropriate and Resilient Flood Risk Governance Arrangements) project, funded by the European Commission, investigates strategies for dealing with flood risk in six European countries: Belgium, the UK, France, the Netherlands, Poland and Sweden and in 18 vulnerable urban regions in these countries. The project aims to describe, analyse, explain, and evaluate the main similarities and differences between the selected EU Member States in terms of development and performance of flood risk governance arrangements. It also discusses the scientific and societal importance of these similarities and differences. Attention is paid to identification and characterization of shifts in flood risk governance arrangements and in flood risk management strategies and to determination of triggering factors and restraining factors. An assessment of a change of resilience and appropriateness (legitimacy, effectiveness, efficiency) of flood risk governance arrangements in Poland is presented and comparison with other European countries is offered.

  7. 76 FR 37343 - Proposed Subsequent Arrangement

    2011-06-27

    ... INFORMATION: This subsequent arrangement concerns the retransfer of 924,556 kg of U.S.-origin natural uranium hexafluoride (UF6) (67.60% U), 625,000 kg of which is uranium, from Cameco Corporation (Cameco) in...

  8. 77 FR 53876 - Proposed Subsequent Arrangement

    2012-09-04

    ... arrangement concerns the retransfer of 2,959,580 kg of U.S.-origin natural uranium hexafluoride (UF6) (67.60% U), 2,000,000 kg of which is uranium, from Cameco Corporation (Cameco) in Saskatoon,...

  9. Efficacy of nanofibrous conduits in repair of long-segment sciatic nerve defects*

    Esmaeil Biazar; Saeed Heidari Keshel; Majid Pouya

    2013-01-01

    Our previous studies have histomorphological y confirmed that nanofibrous poly(3-hydroxybutyrate-co-3-hydroxyvalerate) conduit can be used to repair 30-mm-long sciatic nerve defects. However, the repair effects on rat behaviors remain poorly understood. In this study, we used nanofibrous poly(3-hydroxybutyrate-co-3-hydroxyvalerate) conduit and autologous sciatic nerve to bridge 30-mm-long rat sciatic nerve gaps. Within 4 months after surgery, rat sciatic nerve functional re-covery was evaluated per month by behavioral analyses, including toe out angle, toe spread anal-ysis, walking track analysis, extensor postural thrust, swimming test, open-field analysis and noci-ceptive function. Results showed that rat sciatic nerve functional recovery was similar after nanofibrous poly(3-hydroxybutyrate-co-3-hydroxyvalerate) conduit and autologous nerve grafting. These findings suggest that nanofibrous poly(3-hydroxybutyrate-co-3-hydroxyvalerate) conduit is suitable in use for repair of long-segment sciatic nerve defects.

  10. Economic Determinants of Fund Financial Arrangements

    Julio A. Santaella; Knight, Malcolm D.

    1994-01-01

    This paper analyses empirically the economic factors that lead to approval of Fund financial arrangements. We account for both the economic variables that induce a country to seek an arrangement with the Fund ("demand-side" factors) and the macroeconomic policy commitments that the Fund considers when deciding whether to approve it ("supply-side" factors). Using a pooled sample of annual observations for 91 developing countries over 1973-1991, we obtain maximum likelihood estimates of bivaria...

  11. Flexible Employment Arrangements and Workplace Performance

    Giovanis, Eleftherios

    2016-01-01

    There is an increasing concern on the quality of jobs and productivity that is witnessed in the flexible employment arrangements. However, the effects of the employment flexible types on workplace performance has not been explored in Britain. In this study the relationship between two employment arrangements and the workplace performance is examined. More specifically, teleworking and compress hours are two main employment types examined using the Workplace Employee R...

  12. Optimal hash arrangement of tentacles in jellyfish

    Okabe, Takuya; Yoshimura, Jin

    2016-06-01

    At first glance, the trailing tentacles of a jellyfish appear to be randomly arranged. However, close examination of medusae has revealed that the arrangement and developmental order of the tentacles obey a mathematical rule. Here, we show that medusa jellyfish adopt the best strategy to achieve the most uniform distribution of a variable number of tentacles. The observed order of tentacles is a real-world example of an optimal hashing algorithm known as Fibonacci hashing in computer science.

  13. New multiple aperture arrangements for speckle photography

    Angel-Toro, Luciano; Tebaldi, Myrian; Trivi, Marcelo; Bolognini, Néstor

    2000-01-01

    Abstract. We propose a multiple exposure specklegram by using an optical system whose multiple aperture pupil changes between exposures. In particular, we analyze experimentally two arrangements and we show that it is possible to store the required information by employing a minimum number of registers if an adequate selection of the pupil is done. We study the effect of the decorrelation (among the stored speckle pattern) introduced by changing the multiple aperture pupil arrangements betwee...

  14. Arrangements of curves and algebraic surfaces

    Urzua, Giancarlo

    2007-01-01

    We prove a strong relation between Chern and log Chern invariants of algebraic surfaces. For a given arrangement of curves, we find nonsingular projective surfaces with Chern ratio arbitrarily close to the log Chern ratio of the log surface defined by the arrangement. Our method is based on sequences of random p-th root covers, which exploit a certain large scale behavior of Dedekind sums and lengths of continued fractions. We show that randomness is necessary for our asymptotic result, provi...

  15. Can one identify karst conduit networks geometry and properties from hydraulic and tracer test data?

    Borghi, Andrea; Renard, Philippe; Cornaton, Fabien

    2016-04-01

    Karst aquifers are characterized by extreme heterogeneity due to the presence of karst conduits embedded in a fractured matrix having a much lower hydraulic conductivity. The resulting contrast in the physical properties of the system implies that the system reacts very rapidly to some changes in the boundary conditions and that numerical models are extremely sensitive to small modifications in properties or positions of the conduits. Furthermore, one major issue in all those models is that the location and size of the conduits is generally unknown. For all those reasons, estimating karst network geometry and their properties by solving an inverse problem is a particularly difficult problem. In this paper, two numerical experiments are described. In the first one, 18,000 flow and transport simulations have been computed and used in a systematic manner to assess statistically if one can retrieve the parameters of a model (geometry and radius of the conduits, hydraulic conductivity of the conduits) from head and tracer data. When two tracer test data sets are available, the solution of the inverse problems indicate with high certainty that there are indeed two conduits and not more. The radius of the conduits are usually well identified but not the properties of the matrix. If more conduits are present in the system, but only two tracer test data sets are available, the inverse problem is still able to identify the true solution as the most probable but it also indicates that the data are insufficient to conclude with high certainty. In the second experiment, a more complex model (including non linear flow equations in conduits) is considered. In this example, gradient-based optimization techniques are proved to be efficient for estimating the radius of the conduits and the hydraulic conductivity of the matrix in a promising and efficient manner. These results suggest that, despite the numerical difficulties, inverse methods should be used to constrain numerical

  16. Financing asset sales and business cycles

    Arnold, Marc; Hackbarth, Dirk; Puhan, Tatjana-Xenia

    2014-01-01

    This paper analyzes the decision of firms to sell assets to fund investments (financing asset sales). For a sample of U.S. manufacturing firms during the 1971-2010 period, we document new stylized facts about financing asset sales that cannot be explained by traditional motives for selling assets, such as financial distress or financing constraints. Using a structural model of financing, investment, and macroeconomic risk, we show that financing asset sales attenuate the debt overhang problem...

  17. Efficacy of nanofibrous conduits in repair of long-segment sciatic nerve defects

    Biazar, Esmaeil; Keshel, Saeed Heidari; Pouya, Majid

    2013-01-01

    Our previous studies have histomorphologically confirmed that nanofibrous poly(3-hydroxybutyrate-co-3-hydroxyvalerate) conduit can be used to repair 30-mm-long sciatic nerve defects. However, the repair effects on rat behaviors remain poorly understood. In this study, we used nanofibrous poly(3-hydroxybutyrate-co-3-hydroxyvalerate) conduit and autologous sciatic nerve to bridge 30-mm-long rat sciatic nerve gaps. Within 4 months after surgery, rat sciatic nerve functional recovery was evaluate...

  18. Bridging peripheral nerves using a deacetyl chitin conduit combined with short-term electrical stimulation

    Zhang, Zhongli; Xin LI; Zuo, Songjie; Xin, Jie; Zhang, Peixun

    2014-01-01

    Previous studies have demonstrated that deacetyl chitin conduit nerve bridging or electrical stimulation can effectively promote the regeneration of the injured peripheral nerve. We hypothesized that the combination of these two approaches could result in enhanced regeneration. Rats with right sciatic nerve injury were subjected to deacetyl chitin conduit bridging combined with electrical stimulation (0.1 ms, 3 V, 20 Hz, for 1 hour). At 6 and 12 weeks after treatment, nerve conduction velocit...

  19. Bone Marrow Mesenchymal Stem Cell and Vein Conduit on Sciatic Nerve Repair in Rats

    Seyed Foroutan, Kamal; Khodarahmi, Ali; Alavi, Hootan; Pedram, Sepehr; Baghaban Eslaminejad, Mohamad Reza; Bordbar, Sima

    2015-01-01

    Background: Peripheral nerve repair with sufficient functional recovery is an important issue in reconstructive surgery. Stem cells have attracted extensive research interest in recent years. Objectives: The purpose of this study was to compare the vein conduit technique, with and without the addition of mesenchymal stem cells in gap-less nerve injury repair in rats. Materials and Methods: In this study, 36 Wistar rats were randomly allocated to three groups: In the first group, nerve repair was performed with simple neurorrhaphy (control group), in the second group, nerve repair was done with vein conduit over site (vein conduit group) and in the third group, bone marrow stem cells were instilled into the vein conduit (stem cell group) after nerve repair with vein conduit over site. Six weeks after the intervention, the sciatic function index, electrophysiological study and histological examination were performed. Results: All animals tolerated the surgical procedures and survived well. The sciatic function index and latency were significantly improved in the vein conduit (P = 0.04 and 0.03, respectively) and stem cell group (P = 0.02 and 0.03, respectively) compared with the control group. No significant difference was observed in sciatic function and latency between the vein conduit and stem-cell groups. Moreover, histological analysis showed no significant difference in regenerative density between these two groups. Conclusions: The results of this study showed that the meticulous microsurgical nerve repair, which was performed using the vein tubulization induced significantly better sciatic nerve regeneration. However, the addition of bone marrow mesenchymal stem cell to vein conduit failed to promote any significant changes in regeneration outcome. PMID:25825699

  20. Study on the air flow field of the drawing conduit in the spunbonding process

    Wu Li-Li

    2015-01-01

    Full Text Available The air flow field of the drawing conduit in the spunbonding process has a great effect on the polymer drawing, the filament diameter and orientation. A numerical simulation of the process is carried out, and the results are compared with the experimental data, showing good accuracy of the numerical prediction. This research lays an important foundation for the optimal design of the drawing conduit in the spunbonding process.

  1. Poly(lactic-co-glycolic acid) conduit for repair of injured sciatic nerve: A mechanical analysis

    Yu, Tao; ZHAO, CHANGFU; Li, Peng; Liu, Guangyao; Luo, Min

    2013-01-01

    Tensile stress and tensile strain directly affect the quality of nerve regeneration after bridging nerve defects by poly(lactic-co-glycolic acid) conduit transplantation and autogenous nerve grafting for sciatic nerve injury. This study collected the sciatic nerve from the gluteus maximus muscle from fresh human cadaver, and established 10-mm-long sciatic nerve injury models by removing the ischium, following which poly(lactic-co-glycolic acid) conduits or autogenous nerve grafts were transpl...

  2. Effects of dynamically variable saturation and matrix-conduit coupling of flow in karst aquifers

    Reimann, T.; Geyer, T.; Shoemaker, W.B.; Liedl, R.; Sauter, M.

    2011-01-01

    Well-developed karst aquifers consist of highly conductive conduits and a relatively low permeability fractured and/or porous rock matrix and therefore behave as a dual-hydraulic system. Groundwater flow within highly permeable strata is rapid and transient and depends on local flow conditions, i.e., pressurized or nonpressurized flow. The characterization of karst aquifers is a necessary and challenging task because information about hydraulic and spatial conduit properties is poorly defined or unknown. To investigate karst aquifers, hydraulic stresses such as large recharge events can be simulated with hybrid (coupled discrete continuum) models. Since existing hybrid models are simplifications of the system dynamics, a new karst model (ModBraC) is presented that accounts for unsteady and nonuniform discrete flow in variably saturated conduits employing the Saint-Venant equations. Model performance tests indicate that ModBraC is able to simulate (1) unsteady and nonuniform flow in variably filled conduits, (2) draining and refilling of conduits with stable transition between free-surface and pressurized flow and correct storage representation, (3) water exchange between matrix and variably filled conduits, and (4) discharge routing through branched and intermeshed conduit networks. Subsequently, ModBraC is applied to an idealized catchment to investigate the significance of free-surface flow representation. A parameter study is conducted with two different initial conditions: (1) pressurized flow and (2) free-surface flow. If free-surface flow prevails, the systems is characterized by (1) a time lag for signal transmission, (2) a typical spring discharge pattern representing the transition from pressurized to free-surface flow, and (3) a reduced conduit-matrix interaction during free-surface flow. Copyright 2011 by the American Geophysical Union.

  3. Financing energy projects: experience of the International Finance Corporation

    This paper provides an overview of the recent trend towards private ownership and financing of power projects in the developing countries, focusing on the role played by both private and public agencies in meeting the large financing challenges. The paper draws upon the operational experience of the International Finance Corporation, which has been involved in the financing of more than 30 private power projects in the developing countries over the past three decades. Among the issues that affect implementation of private power projects is the balancing of risk and reward to equity investors and to commercial lenders. The paper discusses the principal sources of risk and the strategies used to manage them. A related issue is the competition for capital on the international markets, and the techniques that are being devised to bring more finance to the power sector. Finally, the paper considers the role of government in bringing private investors to the power sector, and the approaches being adopted to balance the needs of investors with the needs of the public. (author)

  4. Current distribution in Cable-In-Conduit Conductors

    A numerical study of the current distribution in Cable-In-Conduit Conductors (CICC's) experiencing linearly ramping transport currents and transverse magnetic fields was conducted for both infinitely long, periodic cables and finite length cables terminated in low resistance joints. The goal of the study was to gain insight into the phenomenon known as Ramp Rate Limitation, an as yet unexplained correspondence between maximum attainable current and the ramp time taken to reach that current in CICC superconducting magnets. A discrete geometric model of a 27 strand multiply twisted CICC was developed to effectively represent the flux linkages, mutual inductances, and resistive contact points between the strands of an experimentally tested cable. The results of the numerical study showed that for fully periodic cables, the current imbalances due to ramping magnetic fields and ramping transport currents are negligible in the range of experimentally explored operating conditions. For finite length, joint terminated cables, however, significant imbalances can exist. Unfortunately, quantitative results are limited by a lack of knowledge of the transverse resistance between strands in the joints. Nonetheless, general results are presented showing the dependency of the imbalance on cable length, ramp time, and joint resistance for both ramping transverse magnet fields and ramping transport currents. At the conclusion of the study, it is suggested that calculated current imbalances in a finite length cable could cause certain strands to prematurely ''quench'' -- become non-superconducting --thus leading to an instability for the entire cable. This numerically predicted ''current imbalance instability'' is compared to the experimentally observed Ramp Rate Limitation for the 27 strand CICC sample

  5. MR and CT imaging of pulmonary valved conduits in children and adolescents: normal appearance and complications

    Tenisch, Estelle V.; Alamo, Leonor T.; Gudinchet, Francois [Lausanne University Hospital, Department of Medical Imaging, Lausanne (Switzerland); Sekarski, Nicole [Lausanne University Hospital, Department of Pediatrics, Lausanne (Switzerland); Hurni, Michel [Lausanne University Hospital, Department of Cardiovascular Surgery, Lausanne (Switzerland)

    2014-12-15

    The Contegra registered is a conduit made from the bovine jugular vein and then interposed between the right ventricle and the pulmonary artery. It is used for cardiac malformations in the reconstruction of right ventricular outflow tract. To describe both normal and pathological appearances of the Contegra registered in radiological imaging, to describe imaging of complications and to define the role of CT and MRI in postoperative follow-up. Forty-three examinations of 24 patients (17 boys and 7 girls; mean age: 10.8 years old) with Contegra registered conduits were reviewed. Anatomical description and measurements of the conduits were performed. Pathological items examined included stenosis, dilatation, plicature or twist, thrombus or vegetations, calcifications and valvular regurgitation. Findings were correlated to the echographic gradient through the conduit when available. CT and MR work-up showed Contegra registered stenosis (n = 12), dilatation (n = 9) and plicature or twist (n = 7). CT displayed thrombus or vegetations in the Contegra registered in three clinically infected patients. Calcifications of the conduit were present at CT in 12 patients and valvular regurgitation in three patients. The comparison between CT and/or MR results showed a good correlation between the echographic gradient and the presence of stenosis in the Contegra registered. CT and MR bring additional information about permeability and postoperative anatomy especially when echocardiography is inconclusive. Both techniques depict the normal appearance of the conduit, and allow comparison and precise evaluation of changes in the postoperative follow-up. (orig.)

  6. Poly(lactic-co-glycolic acid) conduit for repair of injured sciatic nerve A mechanical analysis*

    Tao Yu; Changfu Zhao; Peng Li; Guangyao Liu; Min Luo

    2013-01-01

    Tensile stress and tensile strain directly affect the quality of nerve regeneration after bridging nerve defects by poly(lactic-co-glycolic acid) conduit transplantation and autogenous nerve grafting for sciatic nerve injury. This study col ected the sciatic nerve from the gluteus maximus muscle from fresh human cadaver, and established 10-mm-long sciatic nerve injury models by removing the ischium, fol owing which poly(lactic-co-glycolic acid) conduits or autogenous nerve grafts were transplanted. Scanning electron microscopy revealed that the axon and myelin sheath were torn, and the vessels of basilar membrane were obstructed in the poly(lactic-co-glycolic acid) con-duit-repaired sciatic nerve fol owing tensile testing. There were no significant differences in tensile tests with autogenous nerve graft-repaired sciatic nerve. Fol owing poly(lactic-co-glycolic acid) conduit transplantation for sciatic nerve repair, tensile test results suggest that maximum tensile load, maximum stress, elastic limit load and elastic limit stress increased compared with autogen-ous nerve grafts, but elastic limit strain and maximum strain decreased. Moreover, the tendencies of stress-strain curves of sciatic nerves were similar after transplantation of poly(lactic-co-glycolic acid) conduits or autogenous nerve grafts. Results showed that after transplantation in vitro for sciatic nerve injury, poly(lactic-co-glycolic acid) conduits exhibited good intensity, elasticity and plasticity, indicating that poly(lactic-co-glycolic acid) conduits are suitable for sciatic nerve injury repair.

  7. MR and CT imaging of pulmonary valved conduits in children and adolescents: normal appearance and complications

    The Contegra registered is a conduit made from the bovine jugular vein and then interposed between the right ventricle and the pulmonary artery. It is used for cardiac malformations in the reconstruction of right ventricular outflow tract. To describe both normal and pathological appearances of the Contegra registered in radiological imaging, to describe imaging of complications and to define the role of CT and MRI in postoperative follow-up. Forty-three examinations of 24 patients (17 boys and 7 girls; mean age: 10.8 years old) with Contegra registered conduits were reviewed. Anatomical description and measurements of the conduits were performed. Pathological items examined included stenosis, dilatation, plicature or twist, thrombus or vegetations, calcifications and valvular regurgitation. Findings were correlated to the echographic gradient through the conduit when available. CT and MR work-up showed Contegra registered stenosis (n = 12), dilatation (n = 9) and plicature or twist (n = 7). CT displayed thrombus or vegetations in the Contegra registered in three clinically infected patients. Calcifications of the conduit were present at CT in 12 patients and valvular regurgitation in three patients. The comparison between CT and/or MR results showed a good correlation between the echographic gradient and the presence of stenosis in the Contegra registered. CT and MR bring additional information about permeability and postoperative anatomy especially when echocardiography is inconclusive. Both techniques depict the normal appearance of the conduit, and allow comparison and precise evaluation of changes in the postoperative follow-up. (orig.)

  8. In vitro evaluation of carbon-nanotube-reinforced bioprintable vascular conduits

    Dolati, Farzaneh; Yu, Yin; Zhang, Yahui; De Jesus, Aribet M.; Sander, Edward A.; Ozbolat, Ibrahim T.

    2014-04-01

    Vascularization of thick engineered tissue and organ constructs like the heart, liver, pancreas or kidney remains a major challenge in tissue engineering. Vascularization is needed to supply oxygen and nutrients and remove waste in living tissues and organs through a network that should possess high perfusion ability and significant mechanical strength and elasticity. In this paper, we introduce a fabrication process to print vascular conduits directly, where conduits were reinforced with carbon nanotubes (CNTs) to enhance their mechanical properties and bioprintability. In vitro evaluation of printed conduits encapsulated in human coronary artery smooth muscle cells was performed to characterize the effects of CNT reinforcement on the mechanical, perfusion and biological performance of the conduits. Perfusion and permeability, cell viability, extracellular matrix formation and tissue histology were assessed and discussed, and it was concluded that CNT-reinforced vascular conduits provided a foundation for mechanically appealing constructs where CNTs could be replaced with natural protein nanofibers for further integration of these conduits in large-scale tissue fabrication.

  9. Comparison of a karst groundwater model with and without discrete conduit flow

    Saller, Stephen P.; Ronayne, Michael J.; Long, Andrew J.

    2013-01-01

    Karst aquifers exhibit a dual flow system characterized by interacting conduit and matrix domains. This study evaluated the coupled continuum pipe-flow framework for modeling karst groundwater flow in the Madison aquifer of western South Dakota (USA). Coupled conduit and matrix flow was simulated within a regional finite-difference model over a 10-year transient period. An existing equivalent porous medium (EPM) model was modified to include major conduit networks whose locations were constrained by dye-tracing data and environmental tracer analysis. Model calibration data included measured hydraulic heads at observation wells and estimates of discharge at four karst springs. Relative to the EPM model, the match to observation well hydraulic heads was substantially improved with the addition of conduits. The inclusion of conduit flow allowed for a simpler hydraulic conductivity distribution in the matrix continuum. Two of the high-conductivity zones in the EPM model, which were required to indirectly simulate the effects of conduits, were eliminated from the new model. This work demonstrates the utility of the coupled continuum pipe-flow method and illustrates how karst aquifer model parameterization is dependent on the physical processes that are simulated.

  10. Benefits of a Project Finance Approach to Infrastructure Development in Ghana: The Need to Adopt a Public Private Partnership Model

    Karikari Amoa-Gyarteng

    2015-01-01

    This article sheds light on the extent to which private entities partake in the provision of transport infrastructure to the Ghanaian public. The paper compares Public-Private Partnership(PPP) arrangements between Ghana and the rest of the world including Sub-Saharan Africa and concludes that PPP is not been extensively utilized. There are benefits in falling on PPP arrangements to provide infrastructure. The non-recourse nature of project finance is well acclaimed. The use of PPP also frees ...

  11. The international Finance Corporation and financing of sustainable energy

    The International Finance Corporation (IFC), a member of the World Bank Group, is the largest multilateral source of loan and equity financing for private sector projects in the developing world. IFC participates in an investment only when it can make a special contribution that complements the role of market operators. Since its founding 40 years ago, IFC has provided more than $18.8 billion in financing for 1,706 companies in developing countries. Its share capital is provided by its 170 member countries, which collectively determine its policies and activities. Strong shareholder support and a substantial paid-in capital base have allowed IFC to raise funds for its lending activities through its triple-A rated bond issues in international financial markets. (orig.)

  12. Does Islamic Finance Outperform Conventional Finance ? Further Evidence from the recent financial crisis

    Fredj Jawadi; Nabila Jawadi; Waël Louhichi

    2014-01-01

    This paper aims to study the performance of Islamic finance regarding that of conventional finance over the last decade. This question is particularly interesting as within the current financial crisis, conventional finance is being rather ineffectual an

  13. The Adaptation Finance Gap Report

    UNEP’s Adaptation Gap Report series focuses on Finance, Technology and Knowledge gaps in climate change adaptation. It compliments the Emissions Gap Report series, and explores the implications of failing to close the emissions gap. The report builds on a 2014 assessment by the United Nations...... Environment Programme (UNEP), which laid out the concept of ‘adaptation gaps’ and outlined three such gaps: technology, finance and knowledge. The 2016 Adaptation Gap Report assesses the difference between the financial costs of adapting to climate change in developing countries and the amount of money...... actually available to meet these costs – a difference known as the “adaptation finance gap”. Like the 2014 report, the 2016 report focuses on developing countries, where adaptation capacity is often the lowest and needs the highest, and concentrates on the period up to 2050. The report identifies trends...

  14. Financing patterns of European SMEs – an empirical taxonomy

    Moritz, Alexandra; Block, Joern; Heinz, Andreas

    2016-01-01

    This EIF Working Paper takes a holistic approach to investigate SME financing patterns in Europe by performing a cluster analysis including 12,726 SMEs in 28 European countries. The results reveal that SME financing in Europe is not homogenous but that different financing patterns exist. The cluster analysis identifies six distinct SME financing types: mixed-financed SMEs, state-subsidised SMEs, debt-financed SMEs, flexible-debt-financed SMEs, trade-financed SMEs and internally-financed SMEs....

  15. The managerial process of business financing

    Solomia Andres

    2008-10-01

    Full Text Available This paper presents some modalities and financing forces for business, getting out in the first place the entrepreneur ingenuity for finding these sources of financing necessary for the business success. Also get some contributions and proposals regarding the criteria’s of which the entrepreneur must be take care in choosing the financial sources, for preparing the finance pack and presenting the financing demands, which good documented, not only grows up the chances of one financing but also can lead to fix some relations on long time with financing source.

  16. Java meshing tool for sphere arrangements

    A tool for meshing sphere arrangements was programmed in order to perform finite element calculations. Sphere arrangements are investigated in frame of the feasibility study of the sphere-pac nuclear fuel. One major concern of this study is the thermal conductivity of the arrangement. Further concerns are the mechanical behavior and sintering of the fuel. The thermal conductivity of the fuel was addressed with the computer code SPACON based on a unit cell approach and a radial heat flow experiment. However, a further approach using the finite element method is desirable, in order to better understanding the thermal flow through the package and to cross check with SPACON data and with experimental data. Also the mechanical behavior of the fuel could be addressed using the finite element technique. (author)

  17. Cooling arrangement for a superconducting coil

    A superconducting device is disclosed, such as a superconducting rotor for a generator or motor. A vacuum enclosure has an interior wall surrounding a cavity containing a vacuum. A superconductive coil is placed in the cavity. A generally-annularly-arranged, thermally-conductive sheet has an inward-facing surface contacting generally the entire outward-facing surface of the superconductive coil. A generally-annularly-arranged coolant tube contains a cryogenic fluid and contacts a generally-circumferential portion of the outward-facing surface of the sheet. A generally-annularly-arranged, thermally-insulative coil overwrap generally circumferentially surrounds the sheet. The coolant tube and the inward-facing surface of the coil overwrap together contact generally the entire outward-facing surface of the sheet. 3 figs

  18. Polymeric Nerve Conduits with Contact Guidance Cues Used in Nerve Repair

    G DAI; X NIU; J YIN

    2016-01-01

    In the modern life, the nerve injury frequently happens due to mechanical, chemical or thermal accidents. In the trivial injuries, the peripheral nerves can regenerate on their own; however, in most of the cases the clinical treatments are required, where relatively large nerve injury gaps are formed. Currently, the nerve repair can be accomplished by direct suture when the injury gap is not too large;while the autologous nerve graft working as the gold standard of peripheral nerve injury treatment for nerve injuries with larger gaps. However, the direct suture is limited by heavy tension at the suture sites, and the autologous nerve graft also has the drawbacks of donor site morbidity and insufifcient donor tissue. Recently, artiifcial nerve conduits have been developed as an alternative for clinical nerve repair to overcome the limitations associated with the above treatments. In order to further improve the efifciency of nerve conduits, various guidance cues are incorporated, including physical cues, biochemical signals, as well as support cells. First, this paper reviewed the contact guidance cues applied in nerve conduits, such as lumen ifllers, multi-channels and micro-patterns on the inner surface. Then, the paper focused on the polymeric nerve conduits with micro inner grooves. The polymeric nerve conduits were fabricated using the phase inversion-based ifber spinning techniques. The smart spinneret with grooved die was designed in the spinning platform, while different spinning conditions, including flow rates, air-gap distances, and polymer concentrations, were adjusted to investigate the inlfuence of fabrication conditions on the geometry of nerve conduits. The inner groove size in the nerve conduits can be precisely controlled in our hollow ifber spinning process, which can work as the efifcient contact guidance cue for nerve regeneration.

  19. Fabrication and Optimization of Gelatin/ Nano Bioglass Conduits for Peripheral Nerve Regeneration

    M. Foroutan Koudehi

    2014-07-01

    Full Text Available Introduction & Objective: Peripheral nerve injury is common in trauma patients and 4.5% of all soft-tissue injuries are accompanied by defects of peripheral nerve. Peripheral nerve injuries can lead to lifetime loss of function and permanent disfigurement. Designed conduits com-prised of natural and synthetic materials are now widely used in the construction of damaged tissues. The aim of this project was to prepare nanocomposite conduits from gelatin and bioglass for damaged peripheral nerve reconstruction. Materials & Methods: In this experimental study,compound water solution of gelatin and nano bioglass synthesized through sol gel method, was made. After preparing the solution, special mandrels were dipped in solution several times and freeze dried in order to be emptied of wa-ter via sublimation. The conduits had the following dimensions: internal diameter: 1.6 mm, outside diameter: 2.2 mm and length about 12 mm. In order to evaluate the biocompatibility of conduits we used cytotoxicity test by Chinese ovary cells and MTT assay by Miapaca-2 (pancreatic cancer cell line. Results: The prepared nano bioglass and conduits were characterized using transmission elec-tron microscopy, scanning electron microscopy, fourier transformed infrared spectroscopy and X-ray diffraction. Results of biocompatibility test showed no sign of cytotoxicity and cells were found to be attached to the pore walls offered by the conduits. Conclusion: According to the results, nano bioglass conduits could be a good candidate for peripheral nerve regeneration. (Sci J Hamadan Univ Med Sci 2014; 21 (2:152-160

  20. Evolution of karst conduit networks in transition from pressurised flow to free surface flow

    M. Perne

    2014-06-01

    Full Text Available We present a novel modelling approach to study the evolution of conduit networks in soluble rocks. Unlike the models presented so far, the model allows a transition from pressurised (pipe flow to a free surface (open channel flow in evolving discrete conduit networks. It calculates flow, solute transport and dissolutional enlargement within each time step and steps through time until a stable flow pattern establishes. The flow in each time step is calculated by calling the EPA Storm Water Management Model (EPA SWMM, which efficiently solves the 1-D Saint Venant equations in a network of conduits. We present several cases with low dip and sub-vertical networks to demonstrate mechanisms of flow pathway selection. In low dip models the inputs were randomly distributed to several junctions. The evolution of pathways progresses upstream: initially pathways linking outlets to the closest inputs evolve fastest because the gradient along these pathways is largest. When a pathway efficiently drains the available recharge, the head drop along the pathway attracts flow from the neighbouring upstream junctions and new connecting pathways evolve. The mechanism progresses from the output boundary inwards until all inputs are connected to the stable flow system. In the pressurised phase, each junction is drained by at least one conduit, but only one conduit remains active in the vadose phase. The selection depends on the initial geometry of a junction, initial distribution of diameters, the evolution in a pressurised regime, and on the dip of the conduits, which plays an important role in vadose entrenchment. In high dip networks, the vadose zone propagates downwards and inwards from the rim of the massif. When a network with randomly distributed initial diameters is supplied with concentrated recharge from the adjacent area, the sink point regresses up upstream along junctions connected to the prominent pathways. Large conductive structures provide deep

  1. The Islamic Finance and Banking

    Shektbayev, Nurbulat

    2015-01-01

    My thesis consists of two parts. The first part is the theoretical one, where I am going to introduce basic models of Islamic finance and banking. Assess the pros and cons of these models and the whole Islamic finance and banking industry. I will make a review of its history and find out reasons that have led to its creation. The second part is the practical one where I am going to find connections between the theoretical issues and data from the qualitative research method (in form of interv...

  2. The euro and corporate financing

    Bris, Arturo; Koskinen, Yrjö; Nilsson, Mattias

    2011-01-01

    In this paper we study how the introduction of the euro has affected corporate financing in Europe. We use firm-level data from eleven euro area countries as well as from a control group of five other European countries spanning the years 1991–2006. We show that firms from euro area countries that previously had weak currencies have increased both their equity and their debt financing compared to the control group. We also show that results are stronger for firms that hail from less financial...

  3. Project finance for renewable energy

    This paper is intended to provide general advice to sponsors of renewable energy projects who expect to raise project-based financing from commercial banks to fund the development of their projects. It sets out, for the benefit of such sponsors, how bankers typically approach the analysis of these undertakings and in particular the risk areas on which they concentrate. By doing so it should assist sponsors to maximize their prospects of raising bank finance. The watchword for sponsors approaching banks must be ''Be Prepared'' . (author)

  4. The A daptations of SMEs into Rating Process within the S cope of Bas el Arrangements a Study in the city of Corum

    Recep Çakar

    2014-12-01

    Full Text Available SMEs operate in certain hardships when the developments in financial markets are taken into account. The primary of these hardships is the difficulty in reaching low-cost finance facilities which are crucial for competing and growing. When it comes to today, the most important developments affecting the SMEs in terms of finance are Basel arrangements. From now on, financial institutions will take the rating notes of SMEs into consideration while giving credits to them. Financial resources will be provided for SMEs in accordance with their rating, and therefore competition advantage and disadvantages of SMEs will be ensued.A hesitation about the orientation of SMEs to the financing technique which is brought by Basel arrangements occurred and thus a study was conducted relating to the matter in the city of Corum. When the results of the study were analysed, it was realised that the SMEs operating in Corum were not sufficiently informed about the rating system brought about Basel arrangements and also the ones who were knowledgeable about these arrangements did not demand rating due to the cost issues of this system. The first and foremost reason of adaptation problems into Basel process was the fact that the SMEs were run by the proprietors themselves not the professional managers, and there were not finance managers in those SMEs

  5. Arranged matches and mental illness: therapists' dilemmas.

    Greenberg, David; Buchbinder, Jacob Tuvia; Witztum, Eliezer

    2012-01-01

    Traditional societies place especial value on marriage and having children, and marriages are often arranged. A series of situations and dilemmas associated with arranged matches and their consequences are described in the course of mental health work with ultra-orthodox Jewish people with severe mental illness. Issues of confidentiality may arise with parents and matchmakers; on the other hand, respectful cooperation with religious authorities, counselors in the community, and family members is important. Information on genetic counseling, contraception, medication during pregnancy, and breastfeeding are considered and interact with communal structures and practices. There is a need for close support and evaluation during the process of marriage, childbearing, and parenthood. PMID:23244012

  6. People management implications of virtual workplace arrangements

    K. Ortlepp

    2006-12-01

    Full Text Available Purpose: The purpose of this paper is to investigate the factors that led to an organisation implementing a particular form of virtual workplace arrangement, namely, home-based work. The benefits and disadvantages associated with this form of work arrangement are explored from both the managers' and home-based employees' perspectives. Design/Methodology/Approach: Given the exploratory nature of the empirical study on which this paper is based, a qualitative research design was adopted so as to ensure that the data collection process was dynamic and probing in nature. Semi-structured in-depth interviews were therefore used as instruments for data collection. Findings: The research findings indicate that virtual work arrangements such as home-based work arrangements have advantages for both employers and employees. For instance, reduction of costs associated with office space and facilities, decrease in absenteeism rates, increased employee job satisfaction and improvements in employees' general quality of life. However, a number of negative experiences related to this form of virtual work arrangement are also evident, for example, feelings of isolation as well as stress related to the inability to have firm boundaries between work and family responsibilities. Implications: Based on the insights gained from the findings in the empirical study, a number of areas that need to be given specific attention when organisations are introducing virtual workplace arrangements of this nature are identified. Recommendations made in this article are important for human resource management specialists as well as core business policy makers considering different forms of organisational design. Originality/Value: Maximising the quality of production and service provided has become the prime objective in most organisations in the 21st century. Technology has made it possible for some jobs to be performed at any place at any time and has facilitated the

  7. A novel electrospun nerve conduit enhanced by carbon nanotubes for peripheral nerve regeneration

    Yu, Wenwen; Jiang, Xinquan; Cai, Ming; Zhao, Wen; Ye, Dongxia; Zhou, Yong; Zhu, Chao; Zhang, Xiuli; Lu, Xiaofeng; Zhang, Zhiyuan

    2014-04-01

    For artificial nerve conduits, great improvements have been achieved in mimicking the structures and components of autologous nerves. However, there are still some problems in conduit construction, especially in terms of mechanical properties, biomimetic surface tomography, electrical conductivity and sustained release of neurotrophic factors or cells. In this study, we designed and fabricated a novel electrospun nerve conduit enhanced by multi-walled carbon nanotubes (MWNTs) on the basis of a collagen/poly(ɛ-caprolactone) (collagen/PCL) fibrous scaffold. Our aim was to provide further knowledge about the mechanical effects and efficacy of MWNTs on nerve conduits as well as the biocompatibility and toxicology of MWNTs when applied in vivo. The results showed that as one component, carboxyl MWNTs could greatly alter the composite scaffold’s hydrophilicity, mechanical properties and degradability. The electrospun fibers enhanced by MWNTs could support Schwann cell adhesion and elongation as a substrate in vitro. In vivo animal studies demonstrated that the MWNT-enhanced collagen/PCL conduit could effectively promote nerve regeneration of sciatic nerve defect in rats and prevent muscle atrophy without invoking body rejection or serious chronic inflammation. All of these results showed that this MWNT-enhanced scaffold possesses good biocompatibility and MWNTs might be excellent candidates as engineered nanocarriers for further neurotrophic factor delivery research.

  8. A novel electrospun nerve conduit enhanced by carbon nanotubes for peripheral nerve regeneration

    For artificial nerve conduits, great improvements have been achieved in mimicking the structures and components of autologous nerves. However, there are still some problems in conduit construction, especially in terms of mechanical properties, biomimetic surface tomography, electrical conductivity and sustained release of neurotrophic factors or cells. In this study, we designed and fabricated a novel electrospun nerve conduit enhanced by multi-walled carbon nanotubes (MWNTs) on the basis of a collagen/poly(ε-caprolactone) (collagen/PCL) fibrous scaffold. Our aim was to provide further knowledge about the mechanical effects and efficacy of MWNTs on nerve conduits as well as the biocompatibility and toxicology of MWNTs when applied in vivo. The results showed that as one component, carboxyl MWNTs could greatly alter the composite scaffold’s hydrophilicity, mechanical properties and degradability. The electrospun fibers enhanced by MWNTs could support Schwann cell adhesion and elongation as a substrate in vitro. In vivo animal studies demonstrated that the MWNT-enhanced collagen/PCL conduit could effectively promote nerve regeneration of sciatic nerve defect in rats and prevent muscle atrophy without invoking body rejection or serious chronic inflammation. All of these results showed that this MWNT-enhanced scaffold possesses good biocompatibility and MWNTs might be excellent candidates as engineered nanocarriers for further neurotrophic factor delivery research. (paper)

  9. Electrospun polycaprolactone/polylactic acid nanofibers as an artificial nerve conduit

    Development of conduits made of biodegradable nanofibers is gaining substantial interest due to their suitability for nerve regeneration. Among all polymeric nanofibers PCL (Poly-Caprolactone) is distinctively found for mechanical stability and PLLA (Poly (L-Lactic Acid)) for relatively faster biodegradability. The aim of this study is to investigate blending compatibility between PCL and PLLA and the ability to fabricate nanofibers conduits via electro spinning. The PCL-PLLA nano-fiber tubular made from different blend ratios of PCL-PLLA were electro spun. The electro spun nanofibers were continuously deposited over high speed rotating mandrel to fabricate nanofibers conduit having inner diameter of 2mm and the wall thickness of 55-65 m. The diameters of nano-fibers were between 715-860nm. FTIR (Fourier Transform Infrared) spectroscopy used to analyze chemical change in the blends of nerve conduits, which revealed that the PCL-PLLA blend nanofiber exhibit characteristic peaks of both PCL and PLLA and was composition dependent. The crystallinity of PCL-PLLA tubes were studied using WAXD (Wide Angle Xray Diffraction). The morphology of nanofibers were investigated under SEM (Scanning Electron Microscope). The mechanical properties of the conduits were also tested; the Young's modulus obtained for small diameter was 10MPa, twice as high as larger diameter. (author)

  10. Electrospun Polycaprolactone/Polylactic Acid Nanofibers as an Artificial Nerve Conduit

    Zeeshan Ali Khatri

    2014-07-01

    Full Text Available Development of conduits made of biodegradable nanofibers is gaining substantial interest due to their suitability for nerve regeneration. Among all polymeric nanofibers PCL (Poly ?-Caprolactone is distinctively found for mechanical stability and PLLA (Poly (L-Lactic Acid for relatively faster biodegradability. The aim of this study is to investigate blending compatibility between PCL and PLLA and the ability to fabricate nanofibers conduits via electro spinning. The PCL-PLLA nano-fiber tubular made from different blend ratios of PCL-PLLA were electro spun. The electro spun nanofibers were continuously deposited over high speed rotating mandrel to fabricate nanofibers conduit having inner diameter of 2mm and the wall thickness of 55-65µm. The diameters of nano-fibers were between 715-860nm. FTIR (Fourier Transform Infrared spectroscopy used to analyze chemical change in the blends of nerve conduits, which revealed that the PCL-PLLA blend nanofiber exhibit characteristic peaks of both PCL and PLLA and was composition dependent. The crystallinity of PCL-PLLA tubes were studied using WAXD (Wide Angle Xray Diffraction. The morphology of nanofibers were investigated under SEM (Scanning Electron Microscope. The mechanical properties of the conduits were also tested; the Young?s modulus obtained for small diameter was 10MPa, twice as high as larger diameter.

  11. Midterm results of bovine jugular vein conduit for right ventricular outflow tract reconstruction

    Objective: To evaluate the midterm results of Contegra conduit. Methods: The retrospective study comprised patient record at Aga Khan University Hospital, Karachi, of conduits implanted between May 2007 and June 2012. Data collection was made from the clinical notes and from serial echocardiograms by a single cardiologist. The last followup echocardiography was done at the time of data collection in June 2012. SPSS 19 was used for statistical analysis. Results: A total of 18 conduits had been implanted (16-22mm) during the study period. Median age at the time of surgery was 9 years (range: 2.5-16 years). Early mortality was seen in 3 (16.66%) patients, but none was Contegra related. Of the remaining 15 patients, 2 (13.33%) with a diagnosis of Pulmonary Atresia-Ventricular Septal Defect with hypoplastic peripheral Pulmonary Arteries (PA), developed severe distal pressure gradient (50mmHg) across Contegra over a median period of 18 months (range: 12-24 months), with resultant severe regurgitation and needed percutaneous intervention. There was no thrombosis, calcification, anuerysmal dilation or late deaths. Conclusion: At midterm followup, Contegra conduit was associated with low re-intervention rates with satisfactory haemodynamic results. However, long-term durability must be determined for this conduit, especially in patients with Pulmonary Atresia-Ventricular Septal Defect with hypoplastic peripheral Pulmonary Arteries. (author)

  12. Long Term Complications Following Heal Conduit Urinary Diversion after Radical Cystectomy

    To study the long term complications of ileal conduit urinary diversion in 36 patients with invasive urinary bladder cancer who lived more than 5 years after surgery. Patients and Methods: A retrospective study included 36 long term survivors (survival 5 years or greater) with invasive bladder cancer who did radical cystectomy or anterior pelvic excentration with ileal conduit urinary diversion at the National Cancer Institute, Cairo University before January 2004. Results: A total of 36 patients, 28 Males and 8 females, with median age at surgery of 62 years. Complications developed in 22 (61 %) patients and surgical re-intervention was needed, in 14 patients (39%). Stoma related complications developed in 7 (19%) patients, bowel related complications developed in 4 (11%), urinary tract infection and pyelonephritis was observed in 9 (25%) patients, conduit/ureteral anastomosis related complications developed in 5 (14%) patients, urolithiasis developed in 4 (11%) patients. Renal function deterioration (morphological and functional) was observed in 9 (25%) patients, nephrectomy was required in 2 patients, hemodialysis was required in 1 patient, and 1 patient had persistent hyperchloraemic acidosis. Conclusion: Long term follow-up for patients with ileal conduit urinary diversion shows high complication and high surgical re-intervention rates following this technique. Longer follow-up period for 20 or more years is needed for all urinary diversion techniques to prove either the ileal conduit will remain the gold standard for urinary diversion or other newly developed techniques will take its place

  13. (Micro)Financing to Give

    Bajde, Domen

    2013-01-01

    transaction. We turn to recent efforts of hybridizing charity and venture finance, exemplified by microfinance platforms such as Kiva.org. We combine data from an existing study of Kiva and its online community, with additional participant observation and third-party accounts detailing the evolution and...

  14. Microleasing : Overcoming Equipment Financing Barriers

    Goldberg , Mike

    2008-01-01

    As their businesses grow, many microbusiness owners would like to purchase new machinery from a microfinance institution (MFI), since such equipment can hold the key to increasing production. However, MFIs are often not able or willing to lend for longer periods of time, with grace periods that long term lending for machinery requires. Long term financing from other sources is usually not ...

  15. Guideposts for Low Carbon Finance

    The author proposes four guideposts for efficient low carbon finance: remove subsidies for high-carbon technologies, improve the cost-effectiveness of low-carbon subsidies, encourage private sector innovation and maintain transparent public policy tools that support cost-benefit accounting

  16. New Approaches to Debt Financing.

    Levitz, Larry; And Others

    1987-01-01

    The use of tax-exempt and taxable bonds by colleges and universities to raise capital is discussed. Currently, the most common tax-exempt instrument issued by higher education institutions is the revenue bond. Until the early 1980s the most common form of tax-exempt financing was long-term fixed-rate debt. Variable or floating rate debt became…

  17. Financing Higher Education in Canada.

    Association of Universities and Colleges of Canada, Ottawa (Ontario).

    It is the purpose of the committee responsible for this document to study, report, and make recommendations on the financing of universities and colleges of Canada, with particular reference to the decade ending 1975, including: (1) prospective financial requirements of universities and colleges, for operation, research, physical facilities and…

  18. Revolution in Business and Finance

    Hazel Henderson

    2003-01-01

    Hazel Henderson argues that the world must address how to finance development through innovative funding sources, as well as how to fund global public goods as a matter of priority in the new global order. Development (2003) 46, 55–60. doi:10.1177/1011637003046001584

  19. Financing Community Education. A Primer.

    Knight, Philip H.

    This manual is divided into three modules designed for use in a self-teaching situation. The first module presents a philosophical discussion of financing community education. The traditional model, requiring subordination of community education goals to the goals of the funding agency, is contrasted with an alternative model that establishes…

  20. Metacognitive scaffolding in an innovative learning arrangement

    Molenaar, I.; Boxtel, C.A.M. van; Sleegers, P.J.C.

    2011-01-01

    This study examined the effects of metacognitive scaffolds on learning outcomes of collaborating students in an innovative learning arrangement. The triads were supported by computerized scaffolds, which were dynamically integrated into the learning process and took a structuring or problematizing f

  1. Arranging a Library to Support Adolescent Development

    Cesari, Lindsay

    2014-01-01

    When designing a school library space and deciding how to arrange resources, it is important to consider multiple components of adolescent development, including social, emotional, and behavioral aspects. Acknowledging these developmental facets and their importance can provide additional justification for some of the more controversial aspects of…

  2. Device and method for measuring multi-phase fluid flow in a conduit using an elbow flow meter

    Ortiz, Marcos G.; Boucher, Timothy J.

    1997-01-01

    A system for measuring fluid flow in a conduit. The system utilizes pressure transducers disposed generally in line upstream and downstream of the flow of fluid in a bend in the conduit. Data from the pressure transducers is transmitted to a microprocessor or computer. The pressure differential measured by the pressure transducers is then used to calculate the fluid flow rate in the conduit. Control signals may then be generated by the microprocessor or computer to control flow, total fluid dispersed, (in, for example, an irrigation system), area of dispersal or other desired effect based on the fluid flow in the conduit.

  3. Off-balance-sheet financing can generate capital for strategic development.

    Campobasso, F D

    2000-06-01

    To manage their real estate portfolios effectively and obtain funding for strategic development, IDSs should consider adopting off-balance-sheet financing strategies, such as sale-and-leaseback transactions, synthetic leases, and joint-venture arrangements. Under these approaches, real estate assets are moved off of the organization's balance sheet via a partial or complete transfer of ownership to a third-party entity. The organization typically retains a satisfactory degree of control over the assets as lessee in sale-and-leaseback and synthetic-lease arrangements, or limited or minority partner in a joint venture, while freeing up cash to use for other strategic purposes. PMID:11010180

  4. Recent Developments in Quantitative Finance: An Overview

    Chang, Chia-Lin; Hu, Shing-Yang; Yu, Shih-Ti

    2014-01-01

    Quantitative finance combines mathematical finance, financial statistics, financial econometrics and empirical finance to provide a solid quantitative foundation for the analysis of financial issues. The purpose of this special issue on “Recent developments in quantitative finance” is to highlight some areas of research in which novel methods in quantitative finance have contributed significantly to the analysis of financial issues, specifically fast methods for large-scale non-elliptical por...

  5. E-Finance Development in Korea

    Choong Young Ahn; Doo Yong Yang

    2011-01-01

    E-finance in Korea has evolved since the late 1980s, when developments in information and telecommunication technology started to be applied to the financial industry. Since the 1990s, e-finance has led a paradigm shift in the financial industry as financial transactions in computer-based tools began increasing. There are several factors that contributed to e-finance development. Korea possess the basic requisite conditions to foster thriving e-finance, including an advanced IT infrastructure...

  6. Education Financing of Rural Households in China

    Wang, Hua-shu; Moll, Henk

    2010-01-01

    The purpose of this paper was to examine children’s education financing alternatives among households in rural China. Data on education financing was from a household survey conducted in three poverty villages in Guizhou, China. The difference in financing education by households was verified through non-parametric testing. Findings show that private savings is dominant in financing education of children in school. Formal loans are almost absent even in the highest wealth group examined. The ...

  7. Behavioral Finances versus Technical and Fundamental Analysis

    Ion Stancu; Adrian Mitroi

    2007-01-01

    Although the field of modern finance has progressed impressively, it is still hard to explain on a scientific basis why people behave nonrationally when dealing with money. The classic finance assumes people rationalize and optimize their financial decisions. Behavioral Finance adds the importance of what investors should do and complements the mantra of classic finance with what people actually do, in terms of economic decisions. The new field of Neuroeconomy investigates the subtle and prof...

  8. Foundations and Trends(R) in Finance

    Shefrin, Hersh

    2010-01-01

    Finance is in the midst of a paradigm shift, from a neoclassical based framework to a psychologically based framework. Behavioral finance is the application of psychology to financial decision making and financial markets. Behavioralizing finance is the process of replacing neoclassical assumptions with behavioral counterparts. This monograph surveys the literature in behavioral finance, and identifies both its strengths and weaknesses. In doing so, it identifies possible directions for behav...

  9. Financing power projects in emerging markets

    Financing for power generation projects in the developing countries of the world has been provided by the United States Export-Import Bank. The loans provided by its new Project Finance Division, totalling $8.3 billion are described. The future of project financing for the power generation industry should, it is argued, rest not with government financing agencies, but with private sector financial markets. (UK)

  10. Internationalisation and financing options of Ghanaian SMEs

    Joshua Abor

    2004-01-01

    This article presents a study of internationalisation and the financing options of Ghanaian small and medium scale nontraditional exporters. The article also examines how the age and size of an organisation affect the choice of financing. The results show a positive association between debt financing and the age of an organisation. Over time, organisations become more acceptable investments to lenders, and consequently older organisations are more likely to obtain debt financing than their yo...

  11. ASPECTS REGARDING THE FINANCING OF HIGHER EDUCATION

    Adrian Macris; Maria Macris

    2008-01-01

    This paper sets forth the issue of financing higher education in Romania according tothe fundamental principles adopted by most of the countries of the European Union. Under suchcircumstances, the two components of financing State universities are minutely exhibited, namelybasic financing and complementary financing. At the same time, the extremely important matterrequiring the foundation of an efficient and competitive educational system demanded by the newenvironment also implies the provid...

  12. Corporate Self-Financing and Growth

    Ricardo Bebczuk; Lorena Garegnani

    2006-01-01

    This paper analyzes the advantages and disadvantages of corporate self-financing from de perspective of corporative finance in order to evaluate its macroeconomic consequences. Specifically, a corporate self-financing coefficient is calculated for a group of 15 countries of OECD during the period 1970-2003. Using recent panel data methods, this paper studies the long-run effect of the corporate self-financing coefficient on the corporate investment, the total factor productivity and the outpu...

  13. The vanishing effect of finance on growth

    Gründler, Klaus

    2015-01-01

    This paper investigates the causes of the "vanishing effect of finance" detected in recent studies. The results highlight that the negative effect of the financial system on growth is mainly driven by advanced economies, whereas finance is still beneficial for income increases in developing countries. The reason is that finance and growth are associated via a nonlinear relationship, which is due to a fundamental change in the transmission mechanism of finance across different levels of econom...

  14. Towards a theory of trade finance

    Schmidt-Eisenlohr, Tim

    2011-01-01

    Shipping goods internationally is risky and takes time. Therefore, trading partners not only have to agree on the specification and the price of a good, but also on the timing of payments. To allocate risk and to finance the time gap between production and sale, a range of different payment contracts is utilized, broadly classified into exporter finance (Open Account), importer finance (Cash in Advance) and bank finance (Letter of Credit). I study the optimal choice between these three types ...

  15. Discussion On The Theory Of Behavioral Finance

    Jing Lulu

    2014-01-01

    behavioral finance theory as a new research field is introduced into China from the last century 80's, the study not only explains many anomalies in the market, also poses a challenge to traditional finance theory, some could not be explained by traditional financial theory, behavioral finance theory provides a new vision for us.

  16. Access to Finance for Smallholder Farmers

    International Finance Corporation

    2014-01-01

    The percentage of smallholders with access to finance is equally difficult to quantify. According to estimates, even promising approaches to expanding smallholder lending, such as value chain finance, are reaching fewer than 10 percent of smallholders, primarily those in well-established value chains dedicated to higher value cash crops. International Finance Corporation (IFC) has been eng...

  17. 41 CFR 101-39.003 - Financing.

    2010-07-01

    ... 41 Public Contracts and Property Management 2 2010-07-01 2010-07-01 true Financing. 101-39.003... MANAGEMENT SYSTEMS 39.0-General Provisions § 101-39.003 Financing. (a) Section 211(d) of the Federal Property... fleet management system, the financing and accounting methods shall be developed by GSA in...

  18. Capital Financing for Independent Private Schools.

    Quinn, Kevin G.; Doherty, Robert F.; Wienk, Christopher O.

    This document contains summary materials from a presentation by Wye River Capital, Inc. of Annapolis, Maryland, on capital financing for independent private schools. The main sections of the presentation address: (1) overview of the capital financing process; (2) tax law considerations for tax-exempt financings by private schools; and (3) key…

  19. 24 CFR 884.114 - Financing.

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financing. 884.114 Section 884.114... HOUSING PROJECTS Applicability, Scope and Basic Policies § 884.114 Financing. (a) Types. Eligible projects... contract as security for financing. (1) An Owner may pledge, or offer as security for any loan...

  20. Enhancing the Capability of Central Finance Agencies

    Allen, Richard; Grigoli, Francesco

    2012-01-01

    A well-organized and effective finance ministry and its associated central finance agencies (CFAs) are essential to good fiscal outcomes. Recent studies of CFAs in selected low-income countries demonstrate that their organizational structure varies widely and that decision making on public finance is strongly influenced by political economy factors. This note presents some common themes ar...

  1. Threshold Concepts in Finance: Student Perspectives

    Hoadley, Susan; Kyng, Tim; Tickle, Leonie; Wood, Leigh N.

    2015-01-01

    Finance threshold concepts are the essential conceptual knowledge that underpin well-developed financial capabilities and are central to the mastery of finance. In this paper we investigate threshold concepts in finance from the point of view of students, by establishing the extent to which students are aware of threshold concepts identified by…

  2. 48 CFR 32.003 - Simplified acquisition procedures financing.

    2010-10-01

    ... procedures financing. 32.003 Section 32.003 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING 32.003 Simplified acquisition procedures financing. Unless agency regulations otherwise permit, contract financing shall not be provided...

  3. Impact of conduit geometry on the performance of typical particulate microchip packings.

    Jung, Stephanie; Höltzel, Alexandra; Ehlert, Steffen; Mora, Jose-Angel; Kraiczek, Karsten; Dittmann, Monika; Rozing, Gerard P; Tallarek, Ulrich

    2009-12-15

    This work investigates the impact of conduit geometry on the chromatographic performance of typical particulate microchip packings. For this purpose, high-performance liquid chromatography (HPLC)/UV-microchips with separation channels of quadratic, trapezoidal, or Gaussian cross section were fabricated by direct laser ablation and lamination of multiple polyimide layers and then slurry-packed with either 3 or 5 microm spherical porous C8-silica particles under optimized packing conditions. Experimentally determined plate height curves for the empty microchannels are compared with dispersion coefficients from theoretical calculations. Packing densities and plate height curves for the various microchip packings are presented and conclusively explained. The 3 microm packings display a high packing density irrespective of their conduit geometries, and their performance reflects the dispersion behavior of the empty channels. Dispersion in 5 microm packings correlates with the achieved packing densities, which are limited by the number and accessibility of corners in a given conduit shape. PMID:19916548

  4. Flambage vertical des conduites en souillées Vertical Buckling of Buried Pipes

    Bournazel C.

    2006-01-01

    Si l'apparition d'un flambage vertical des conduites rigides enfouies dans une tranchée est un phénomène assez rare, il peut ne pas en être de même pour des conduites flexibles dont les propriétés mécaniques sont de nature différente. Une étude théorique et expérimentale, ayant pour but de proposer une méthode analytique de calcul de l'apparition du flambage et de son évolution sous l'effet de la pression interne, a été réalisée. II apparaît que les conduites flexibles actuelles sont très sen...

  5. Bridging peripheral nerves using a deacetyl chitin conduit combined with short-term electrical stimulation

    Zhongli Zhang; Xin Li; Songjie Zuo; Jie Xin; Peixun Zhang

    2014-01-01

    Previous studies have demonstrated that deacetyl chitin conduit nerve bridging or electrical stimulation can effectively promote the regeneration of the injured peripheral nerve. We hypoth-esized that the combination of these two approaches could result in enhanced regeneration. Rats with right sciatic nerve injury were subjected to deacetyl chitin conduit bridging combined with electrical stimulation (0.1 ms, 3 V, 20 Hz, for 1 hour). At 6 and 12 weeks after treatment, nerve conduction velocity, myelinated axon number, ifber diameter, axon diameter and the thickness of the myelin sheath in the stimulation group were better than in the non-stimulation group. The results indicate that deacetyl chitin conduit bridging combined with temporary electrical stimu-lation can promote peripheral nerve repair.

  6. Bridging peripheral nerves using a deacetyl chitin conduit combined with short-term electrical stimulation.

    Zhang, Zhongli; Li, Xin; Zuo, Songjie; Xin, Jie; Zhang, Peixun

    2014-05-15

    Previous studies have demonstrated that deacetyl chitin conduit nerve bridging or electrical stimulation can effectively promote the regeneration of the injured peripheral nerve. We hypothesized that the combination of these two approaches could result in enhanced regeneration. Rats with right sciatic nerve injury were subjected to deacetyl chitin conduit bridging combined with electrical stimulation (0.1 ms, 3 V, 20 Hz, for 1 hour). At 6 and 12 weeks after treatment, nerve conduction velocity, myelinated axon number, fiber diameter, axon diameter and the thickness of the myelin sheath in the stimulation group were better than in the non-stimulation group. The results indicate that deacetyl chitin conduit bridging combined with temporary electrical stimulation can promote peripheral nerve repair. PMID:25206762

  7. The Use of Degradable Nerve Conduits for Human Nerve Repair: A Review of the Literature

    M. F. Meek

    2005-01-01

    Full Text Available The management of peripheral nerve injury continues to be a major clinical challenge. The most widely used technique for bridging defects in peripheral nerves is the use of autologous nerve grafts. This technique, however, has some disadvantages. Many alternative experimental techniques have thus been developed, such as degradable nerve conduits. Degradable nerve guides have been extensively studied in animal experimental studies. However, the repair of human nerves by degradable nerve conduits has been limited to only a few clinical studies. In this paper, an overview of the available international published literature on degradable nerve conduits for bridging human peripheral nerve defects is presented for literature available until 2004. Also, the philosophy on the use of nerve guides and nerve grafts is given.

  8. Study on Risk Management in Financing and Operational of Grameen Bank Financing Concept in MBK Finance

    Bobby Yulandika Putra

    2014-03-01

    Full Text Available Objective – Poverty is one of the most fundamental issues that still surround the life of 29.89 million people of Indonesia (National Statistical Bureau data from January 2, 2012. During this time, the pattern of poverty alleviation programs undertaken by the government is a pattern of generosity. This pattern can directly exacerbate the poor morals and behavior. Ideally, poverty alleviation efforts are made by concrete steps, which empower poor `communities themselves.In line with the theme of this research, one of the financial institutions (non-Banks who cares and has the spirit to empower people to overcome poverty is Mitra Bisnis Keluarga (MBK. This study aimed to assess the financial risks and operational risks of implementation of Grameen Bank financing concept in MBK.Methods - The method used in this research is literature review and qualitative descriptive study using actual MBK data.Results - Results from this research showed that products with the concept of Grameen Bank financing is relatively safe in the terms of the financing risk, but requires more attention on operational risk and which can be implemented for large-scale poverty alleviation program.Conclusion - The data showed that the risk of financing given to the poor (without collateral is minimal and MBK actual data shows that the Operational self-sufficiency is relatively high at> 90% Keywords : MBK, Grameen Bank, Poverty

  9. Ascent and decompression of viscous vesicular magma in a volcanic conduit

    Massol, HéLèNe; Jaupart, Claude; Pepper, Darrell W.

    2001-01-01

    During eruption, lava domes and flows may become unstable and generate dangerous explosions. Fossil lava-filled eruption conduits and ancient lava flows are often characterized by complex internal variations of gas content. These observations indicate a need for accurate predictions of the distribution of gas content and bubble pressure in an eruption conduit. Bubbly magma behaves as a compressible viscous liquid involving three different pressures: those of the gas and magma phases, and that of the exterior. To solve for these three different pressures, one must account for expansion in all directions and hence for both horizontal and vertical velocity components. We present a new two-dimensional finite element numerical code to solve for the flow of bubbly magma. Even with small dissolved water concentrations, gas overpressures may reach values larger than 1 MPa at a volcanic vent. For constant viscosity the magnitude of gas overpressure does not depend on magma viscosity and increases with the conduit radius and magma chamber pressure. In the conduit and at the vent, there are large horizontal variations of gas pressure and hence of exsolved water content. Such variations depend on decompression rate and are sensitive to the "exit" boundary conditions for the flow. For zero horizontal shear stress at the vent, relevant to lava flows spreading horizontally at the surface, the largest gas overpressures, and hence the smallest exsolved gas contents, are achieved at the conduit walls. For zero horizontal velocity at the vent, corresponding to a plug-like eruption through a preexisting lava dome or to spine growth, gas overpressures are largest at the center of the vent. The magnitude of gas overpressure is sensitive to changes of magma viscosity induced by degassing and to shallow expansion conditions in conduits with depth-dependent radii.

  10. Increasing revenues for protected areas. A wealth of financing options

    focuses on an overview of financing mechanisms in support of the creation and maintenance of protected areas comprising terrestrial ecosystems.The term 'protected area' refers in this paper to all IUCN protected area categories, including extractive reserves. The financing mechanisms are classified into six different categories, according to the type of institutional arrangement, and the dominant actor or group of actors

  11. Increasing revenues for protected areas. A wealth of financing options

    Verweij, P.

    2004-12-15

    scoping paper focuses on an overview of financing mechanisms in support of the creation and maintenance of protected areas comprising terrestrial ecosystems.The term 'protected area' refers in this paper to all IUCN protected area categories, including extractive reserves. The financing mechanisms are classified into six different categories, according to the type of institutional arrangement, and the dominant actor or group of actors.

  12. The International Finance Corporation and financing of sustainable energy

    NONE

    1997-12-01

    The International Finance Corporation (IFC), a member of the World Bank Group, is the largest multilateral source of loan and equity financing for private sector projects in the developing world. IFC participates in an investment only when it can make a special contribution that complements the role of market operators. Since its founding 40 years ago, IFC has provided more than $18.8 billion in financing for 1,706 companies in developing countries. Its share capital is provided by its 170 member countries, which collectively determine its policies and activities. Strong shareholder support and a substantial paid-in capital base have allowed IFC to raise funds for its lending activities through its triple-A rated bond issues in international financial markets. IFC created an Infrastructure Department in 1992 in response to the growing demand for its services in this area. During fiscal 1996 IFC approved 33 projects for new investments of $715 million of which 27% were in the power sector. In recognition of the continuing demand growth for private power investments an expanded Power Department has been formed to handle IFC`s investments in electric power generation projects using renewable resources such as: run-of-the-river hydro, geothermal, biomass cogeneration, wind energy, and solar (photovoltaic, solar thermal, etc.), as well as conventional thermal generation projects, transmission and distribution projects, and energy efficiency investments.

  13. The Relation Between Reporting Quality and Financing and Investment: Evidence from Changes in Financing Capacity

    Balakrishnan, Karthik; John E. Core; Verdi, Rodrigo

    2011-01-01

    We use changes in the value of a firm's real estate assets as an exogenous change in a firm's financing capacity to examine (1) the relation between reporting quality and financing and investment conditional on this change, and (2) firms’ reporting quality responses to the change in financing capacity. We find that financing and investment by firms with higher reporting quality is less affected by changes in real estate values than are financing and investment by firms with lower reporting qu...

  14. Small scale high resolution LiDAR measurements of a subglacial conduit

    Mankoff, K. D.; Gulley, J.

    2012-04-01

    We present direct measurements of surface roughness in a sub-glacial conduit system underneath the Rieperbreen Glacier, Svalbard, Norway. Data was collected with a low-cost (129 USD) Microsoft Kinect video game device used as a LIDAR sensor. Surface roughness is a primary control on water flow in rivers, channels, and cave conduit systems and understanding the effects of surface roughness on water flow has been problematic due to lack of direct measurements of roughness in natural systems. We use the ice scallop dimensions to derive flow velocity and explore implications of the changing roughness parameters as the cave grows and shrinks.

  15. Pressure distribution along the AGS vacuum chambers with new types of pump out conduits

    The AGS HEBT and ring vacuum system is monitored by the discharge current of the magnet ion pumps, which is proportional to the pressure at the inlet port of these ion pumps. The discharge current is measured and suitably calibrated to indicate the ion pump pressure. In order to calculate the vacuum chamber pressure from the ion pump pressure, a detailed analysis is essential to compute their difference in different scenarios. Such analysis has been carried out numerically in the past for the system with the older type of pump out conduits, and similar analysis using FEM in ANSYS is presented in this paper with the newer type of pump out conduit.

  16. Robotic-assisted aortic valve bypass (apicoaortic conduit) for aortic stenosis.

    Gammie, James S; Lehr, Eric J; Griffith, Bartley P; Dawood, Murtaza Y; Bonatti, Johannes

    2011-08-01

    Aortic valve bypass (AVB [apicoaortic conduit]) surgery consists of the construction of a valved conduit between the left ventricular apex and the descending thoracic aorta. In our institution, AVB is routinely performed without cardiopulmonary bypass or manipulation of the ascending aorta or native aortic valve. We report the case of an 83-year-old man with severe symptomatic bioprosthetic aortic stenosis, chronic thrombocytopenia, and a patent bypass graft who underwent robotically assisted beating-heart AVB through an anterior minithoracotomy. The distal anastomosis was constructed entirely using robotic telemanipulation. Robotic assistance enables the performance of beating-heart AVB through a small incision. PMID:21801931

  17. Chitosan conduits combined with nerve growth factor microspheres repair facial nerve defects

    Liu, Huawei; Wen, Weisheng; Hu, Min; Bi, Wenting; Chen, Lijie; Liu, Sanxia; Chen, Peng; Tan, XinYing

    2013-01-01

    Microspheres containing nerve growth factor for sustained release were prepared by a compound method, and implanted into chitosan conduits to repair 10-mm defects on the right buccal branches of the facial nerve in rabbits. In addition, chitosan conduits combined with nerve growth factor or normal saline, as well as autologous nerve, were used as controls. At 90 days post-surgery, the muscular atrophy on the right upper lip was more evident in the nerve growth factor and normal sa-line groups...

  18. Identification of the range of small diameters conduits, regarding two-phase flow pattern transitions

    Integrated frame of both stability and well-posedness analyses is shown to predict the complete stratified/nonstratified transitional boundary over wide ranges of conduit size. In this paper it is shown that the stabilizing effects of surface tension associated with practically finite wave lengths must be considered. This explains the basic deficiency of all previous analyses which employed single stability criteria of infinite long waves. The range of small diameters' conduits, regarding flow pattern transition, is identified by Eotwos number smaller than unity

  19. Pressure distribution along the AGS vacuum chambers with new types of pump out conduits

    Nayak, S. [Brookhaven National Lab. (BNL), Upton, NY (United States); Mapes, M. [Brookhaven National Lab. (BNL), Upton, NY (United States); Smart, L. [Brookhaven National Lab. (BNL), Upton, NY (United States); Weiss, D. [Brookhaven National Lab. (BNL), Upton, NY (United States)

    2015-10-28

    The AGS HEBT and ring vacuum system is monitored by the discharge current of the magnet ion pumps, which is proportional to the pressure at the inlet port of these ion pumps. The discharge current is measured and suitably calibrated to indicate the ion pump pressure. In order to calculate the vacuum chamber pressure from the ion pump pressure, a detailed analysis is essential to compute their difference in different scenarios. Such analysis has been carried out numerically in the past for the system with the older type of pump out conduits, and similar analysis using FEM in ANSYS is presented in this paper with the newer type of pump out conduit.

  20. Havery Mudd 2014-2015 Computer Science Conduit Clinic Final Report

    Aspesi, G [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States); Bai, J [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States); Deese, R [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States); Shin, L [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States)

    2015-05-12

    Conduit, a new open-source library developed at Lawrence Livermore National Laboratories, provides a C++ application programming interface (API) to describe and access scientific data. Conduit’s primary use is for inmemory data exchange in high performance computing (HPC) applications. Our team tested and improved Conduit to make it more appealing to potential adopters in the HPC community. We extended Conduit’s capabilities by prototyping four libraries: one for parallel communication using MPI, one for I/O functionality, one for aggregating performance data, and one for data visualization.

  1. Wave Propagation in Axi-Symmetrical Magmatic Conduits Due to an Internal Source

    De Negri, R. S.; Sanchez-Sesma, F. J.; Arciniega-Ceballos, A.

    2014-12-01

    The classical Trefftz's method is implemented to simulate wave propagation in and around axi-symmetrical magmatic conduits. In this fluid-solid system the fluid (magma) is confined by an elastic unbounded medium that represents the surrounding rock. Our aim is to associate wave behavior with mechanical and geometrical conduit characteristics. The source is assumed to be at a point along the conduit centered axis medium are constructed in both cases as linear combinations of particular solutions.Within the fluid such solutions are spherical standing waves that are smooth at the origins. In the elastic solid region the field is constructed with monopoles and dipoles for the P waves and spheroidal dipoles for SV waves. The particular solutions satisfy the elastodynamic equations that govern the wave motion at those media and are associated to origins (selected points) distributed along the conduit axis. For the surrounding rock the solutions are sources that satisfy Sommerfeld's radiation condition. These sets of solutions are assumed to be complete. This conjecture is exact in 2D acoustic problems. The conduit can be closed or open at the ends and the surrounding elastic domain is unbounded. In order to find the coefficients of Trefftz's wave expansions, boundary conditions at the fluid-solid interface (null shear and continuity of pressures and normal velocities) are satisfied in the least squares sense. The solution is obtained in the frequency domain and the source time function can be introduced using Fourier analysis.Regardless the low order of the formulation our results display a rich variety of behaviors. For a uniform infinite cylinder we reproduced the exact analytical solution. In addition, this approach allows identifying some important effects of the conduit geometry, including changes of sections. Lateral and longitudinal resonances of irregular axi-symmetric conduits are well resolved. The stiffness of the solid domain with respect to the fluid

  2. Use of arterial conduit for arterial revascularization during liver and multivisceral transplantation

    MA Yi; LI Qiang; YE Zhi-ming; ZHU Xiao-feng; HE Xiao-shun

    2011-01-01

    Background At present, revascularization is still one of the most critical technologies in orthotopic liver transplantation (OLT). Hepatic artery (HA) variations occur frequently in both donors and recipients. Moreover, there are always some pathological changes in the recipient hepatic artery. If handled improperly, it may cause complications after anastomosis.Therefore, arterial conduit could be used in primary OLT, re-OLT and multiple-OLT. This study aimed to investigate the indications, methods and techniques with usage of arterial conduit for HA revascularization during adult OLT.Methods We reviewed 1200 patients of consecutive OLTs performed during 2000-2009 in the First Affiliated Hospital of Sun Yat-sen University. Of these patients, 48 recipients with artery variations received HA revascularization with usage of arterial conduit and special postoperative managements. The indications, methods, techniques, and the managements of postoperative complications in adult OLT with usage of arterial conduit for HA revascularization were analyzed.Results In 48 cases with artery bypass, the arterial conduit were anastomosed between donor hepatic artery and recipient infrarenal aorta (n=32), between donor hepatic artery and recipient suprarenal aorta (n=10), and between donor upper abdominal organ cluster artery and recipient suprarenal aorta (n=6). The technique was applied in 4% (48/1200 cases) of the whole OLTs performed in the same period, and the patency rate of the conduits was 100%. Forty patients (83.3%) survived, and the average survival time was 3.9 years. Eight patients (16.7%) died (all due to tumor recurrence),while the average survival time was 1.2 years. All these patients have not experienced artery-related complications in their survival time.Conclusions When recipient HA has variations or pathological changes in OLT, the donor artery should be anastomosed to recipient abdominal aorta with an arterial conduit to achieve satisfactory outcomes

  3. Mauritius; Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

    International Monetary Fund

    2008-01-01

    A detailed assessment report on Anti-Money Laundering and Combating the Financing of Terrorism for Mauritius is discussed. Mauritius is well placed to capitalize on its national strategy to diversify its economy into global financial services by taking advantage of its linkages with both African and long-standing arrangements with the larger Asian economies. Additionally, Mauritius intends to offer new products in Islamic financial services and wealth management. The investigative and prosecu...

  4. Introducing activity-based financing: a review of experience in Australia, Denmark, Norway and Sweden

    Andrew Street; Kirsi Vitikainen; Afsaneh Bjorvatn; Anne Hvenegaard

    2007-01-01

    We review and evaluate the international literature on activity-based funding of health services, focussing especially on experience in Australia (Victoria), Denmark, Norway and Sweden. In evaluating this literature we summarise the differences and pros and cons of three different funding arrangements, namely cost-based reimbursement, global budgeting and activity-based financing. The institutional structures of the four jurisdictions that are the main focus of the review are described, and a...

  5. Response to State Fiscal Crisis - Drawing on Experiences in International Finance

    Masatsugu Asakawa

    2011-01-01

    What primarily does the "failure of nation" mean? Although it ultimately means the denial or abandonment of public debts, practically, any failure to repay on a due date might eventually lead to an official debt restructuring arrangement such as a deferral, or reduction of principal and interest payments. In international finance, the State Debt Restructuring Mechanism (SDRM) was once discussed at the IMF in the early 2000s. This mechanism aimed at restructuring national debts through a legal...

  6. Understanding financing options for PACS implementation. Picture archiving and communication systems.

    Reiner, B; Siegel, E

    2000-05-01

    The acquisition of expensive equipment such as picture archiving and communication systems (PACS) becomes increasingly difficult as capital budgets become tighter. Traditional ownership financing options in the form of direct purchase or financing (loan) have several limitations including technology obsolescence, higher fixed pricing, limited options for equipment disposal, and the need to tie up valuable capital. Alternative financing options, in the form of conventional lease and risk sharing arrangements, offer several theoretical advantages including technology obsolescence protection in the form of built-in upgrades, preservation of borrowing power, multiple end-of-term options, and payment flexibility (which can be directly tied to realized productivity and operational efficiency gains). These options are discussed, with emphasis on the acquisition of PACS. PMID:10843249

  7. Risk Analysis of Telecom Enterprise Financing

    YU Hua; SHU Hua-ying

    2005-01-01

    The main research objects in this paper are the causes searching and risk estimating method for telecom enterprises' financial risks. The multi-mode financing for telecom enterprises makes it flexible to induce the capital and obtain the profit by corresponding projects. But there are also potential risks going with these financing modes. After making analysis of categories and causes of telecom enterprises' financing risk, a method by Analytic Hierarchy Process (AHP) is put forward to estimating the financing risk. And the author makes her suggestion and opinion by example analysis, in order to provide some ideas and basis for telecom enterprise's financing decision-making.

  8. 12 CFR 985.4 - Finance Board oversight.

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Finance Board oversight. 985.4 Section 985.4 Banks and Banking FEDERAL HOUSING FINANCE BOARD OFFICE OF FINANCE THE OFFICE OF FINANCE § 985.4 Finance Board oversight. (a) Oversight and enforcement actions. The Finance Board shall have the same...

  9. 12 CFR 908.71 - Practice before the Finance Board.

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Practice before the Finance Board. 908.71 Section 908.71 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOUSING FINANCE BOARD ORGANIZATION... Finance Board § 908.71 Practice before the Finance Board. Practice before the Finance Board for...

  10. Child Care Arrangements Of Working Mothers

    Singh H

    1993-01-01

    Full Text Available Children arrangements for infants and preschool children and the reasons for working outside the home were studied in 300 mothers of whom 100 were teachers (Group. I 100 clerks (groups II and 100 tabourers (Group III. The interview method was used. The most common (80% reason for working was financial needs, the next most frequent was utilization of specialized skills. In 58.7% of the cases, substitute childcare was provided by one of the family members, usually the grandmother. Sixty six percent of caretakers were illiterate. Most (93% of the working mothers had also to perform certain household chores. Bottle-feeding was stated at birth by 80% of these mothers: Childcare arrangements for children of working mothers must be considered in the future.

  11. Co-Management Arrangements in Orthopedic Surgery.

    Bushnell, Brandon D

    2015-06-01

    A co-management arrangement (CMA) is a contractual relationship between physicians and a hospital that results in a shared-responsibility management structure for a specific service line. In orthopedic surgery, CMAs are becoming increasingly popular as stakeholders in the health care market seek increased value (ie, higher-quality care at lower costs). A CMA can significantly improve the efficiency and the outcomes of a musculoskeletal service line if it adheres to the basic principles of a focus on the patient, evidence-based decision-making, physician leadership, appropriate physician compensation, transparency, reasonable and modifiable goals, and accountability. While the specifics of each CMA will vary, all CMAs have common operational elements that include the arrangement's legal structure, legal compliance, leadership and reporting structure, facilities management, personnel management, clinical data management, financial data management, and quality and effectiveness reporting. PMID:26047000

  12. Patterns of childcare arrangements and cognitive development

    Eryigit-Madzwamuse, S.; Barnes, Jacqueline

    2014-01-01

    Objectives. The current study investigated (a) whether identifiable patterns of childcare arrangements from birth to 51 months exist and (b) whether these patterns moderate cognitive development from 18 months to 51 months in relation to maternal stimulation of language and infant difficult temperament controlling for SES and child gender. Methods. Of the 1201 who participated in the Families, Children Childcare Study, 978 were included in the current study. Data were collected when childr...

  13. Germany; Technical Note on Crisis Management Arrangements

    International Monetary Fund

    2011-01-01

    This paper discusses Germany’s challenges and measures to strengthen crisis management arrangements. Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and the Bundesbank have closely coordinated with the interagency risk committee on banking matters, which also encompasses BaFin representatives for all three financial sectors. The Bundesbank maintains an internal crisis committee and a steering committee. The crisis committee is chaired by a board member and combines expertise from vari...

  14. Arrangement Computation for Planar Algebraic Curves

    Berberich, Eric; Emeliyanenko, Pavel; Kobel, Alexander; Sagraloff, Michael

    2011-01-01

    We present a new certified and complete algorithm to compute arrangements of real planar algebraic curves. Our algorithm provides a geometric-topological analysis of the decomposition of the plane induced by a finite number of algebraic curves in terms of a cylindrical algebraic decomposition of the plane. Compared to previous approaches, we improve in two main aspects: Firstly, we significantly reduce the amount of exact operations, that is, our algorithms only uses resultant and gcd as pure...

  15. Simple Euclidean arrangements with one (>=5)-gon

    Leaños, Jesus; Rivera-Martinez, Luis Manuel

    2010-01-01

    Let L be a simple Euclidean arrangement of n pseudolines. It is shown that if L has exactly one (>=5)=gon P, and k is the number of edges of P that are adjacent to an unbounded cell of the subarrangement of L induced by the pseudolines in P, then L has exactly n-k triangles and k+n(n-5)/2 quadrilaterals. We also prove that if each pseudoline of L is adjacent to P then L is stretchable.

  16. Child Care Arrangements Of Working Mothers

    Singh H.; Raizada N; Soni R.K; Gill P J S

    1993-01-01

    Children arrangements for infants and preschool children and the reasons for working outside the home were studied in 300 mothers of whom 100 were teachers (Group. I) 100 clerks (groups II) and 100 tabourers (Group III). The interview method was used. The most common (80%) reason for working was financial needs, the next most frequent was utilization of specialized skills. In 58.7% of the cases, substitute childcare was provided by one of the family members, usually the grandmot...

  17. Flood risk governance arrangements in Europe

    Matczak, P.; Lewandowski, J.; Choryński, A.; Szwed, M.; Z. W. Kundzewicz

    2015-01-01

    The STAR-FLOOD (Strengthening and Redesigning European Flood Risk Practices Towards Appropriate and Resilient Flood Risk Governance Arrangements) project, funded by the European Commission, investigates strategies for dealing with flood risk in six European countries: Belgium, the UK, France, the Netherlands, Poland and Sweden and in 18 vulnerable urban regions in these countries. The project aims to describe, analyse, explain, and evaluate the main similarities and differen...

  18. Chapitre VI. Prudence du financement

    Jambard, Pierre

    2015-01-01

    L’histoire financière de la société permet de comprendre bien des traits de son histoire. Comme toutes les entreprises du bâtiment et des travaux publics, la Société Auxiliaire s’est trouvée devant la nécessité de disposer d’importants capitaux circulants. Grâce à une gestion financière efficace, elle est, en général, parvenue à dégager de son activité les fonds nécessaires, bien que l’aisance de la trésorerie quotidienne n’ait été acquise qu’avec la reconversion. Les années 1927-1946 sont ce...

  19. Derivatives in energy project finance

    This chapter focuses on risk management of merchant power generation projects and describes project finance as balancing risk and reward over time. The historical background to risk management is traced, and the case for derivatives in energy project finance is put forward with the hedging of forward output, and forwards and power purchase agreements discussed. Current and prospective usage, and the implementation issues of market liquidity, margin calls, letters of credit, derivative counterparty credit risk, and accounting policy are considered. A detailed example of a gas-fired plant in the US is presented with details given of the distribution of project earnings before tax. Oil field operating cashflows are examined, with reserved flow models, leverage effects, and price hedging addressed

  20. Commodities, energy and environmental finance

    Ludkovski, Michael; Sircar, Ronnie

    2015-01-01

    This volume is a collection of chapters covering the latest developments in applications of financial mathematics and statistics to topics in energy, commodity financial markets and environmental economics. The research presented is based on the presentations and discussions that took place during the Fields Institute Focus Program on Commodities, Energy and Environmental Finance in August 2013. The authors include applied mathematicians, economists and industry practitioners, providing for a multi-disciplinary spectrum of perspectives on the subject. The volume consists of four sections: Electricity Markets; Real Options; Trading in Commodity Markets; and Oligopolistic Models for Energy Production. Taken together, the chapters give a comprehensive summary of the current state of the art in quantitative analysis of commodities and energy finance. The topics covered include structural models of electricity markets, financialization of commodities, valuation of commodity real options, game-theory analysis of ...

  1. Internationalisation and financing options of Ghanaian SMEs

    Joshua Abor

    2004-12-01

    Full Text Available This article presents a study of internationalisation and the financing options of Ghanaian small and medium scale nontraditional exporters. The article also examines how the age and size of an organisation affect the choice of financing. The results show a positive association between debt financing and the age of an organisation. Over time, organisations become more acceptable investments to lenders, and consequently older organisations are more likely to obtain debt financing than their younger counterparts. With respect to size, the results again indicate that larger organisations are more likely to receive debt financing. The results also show a positive relationship between degree of internationalisation and debt financing. The results suggest that as organisations engage more in international activities, they employ more debt but use less of equity financing. This is explained by the fact that organisations involved in international business tend to be more diversified and, as such, are capable of accommodating more debt capital

  2. Recurring part arrangements in shape collections

    Zheng, Youyi

    2014-05-01

    Extracting semantically related parts across models remains challenging, especially without supervision. The common approach is to co-analyze a model collection, while assuming the existence of descriptive geometric features that can directly identify related parts. In the presence of large shape variations, common geometric features, however, are no longer sufficiently descriptive. In this paper, we explore an indirect top-down approach, where instead of part geometry, part arrangements extracted from each model are compared. The key observation is that while a direct comparison of part geometry can be ambiguous, part arrangements, being higher level structures, remain consistent, and hence can be used to discover latent commonalities among semantically related shapes. We show that our indirect analysis leads to the detection of recurring arrangements of parts, which are otherwise difficult to discover in a direct unsupervised setting. We evaluate our algorithm on ground truth datasets and report advantages over geometric similarity-based bottom-up co-segmentation algorithms. © 2014 The Author(s) Computer Graphics Forum © 2014 The Eurographics Association and John Wiley & Sons Ltd. Published by John Wiley & Sons Ltd.

  3. Frequency Arrangement For 700 MHz Band

    Ancans G.

    2015-02-01

    Full Text Available The 694-790 MHz (700 MHz band was allocated by the 2012 World Radiocommunication Conference (WRC-12 in ITU Region 1 (Europe included, to the mobile service on a co-primary basis with other services to which this band was allocated on the primary basis and identified for the International Mobile Telecommunications (IMT. At the same time, the countries of Region 1 will be able also to continue using these frequencies for their broadcasting services if necessary. This allocation will be effective immediately after 2015 World Radiocommunication Conference (WRC-15. In order to make the best possible use of this frequency band for mobile service, a worldwide harmonized frequency arrangement is to be prepared to allow for large economies of scale and international roaming as well as utilizing the available spectrum in the best possible way, minimizing possible interference between services, facilitating deployment and cross-border coordination. The authors analyze different possible frequency arrangements and conclude on the frequency arrangement most suitable for Europe.

  4. The fundamental group of the complement of complexified real arrangements

    Let V be a finite dimensional vector space over the real or complex numbers. An arrangement in V is a finite collection of affine hyperplanes of V. Given a real arrangement A in a real vector space V. Then its complexification, AC, is a complex arrangement in the complex vector space VC, and will be called a complexified real arrangement. In this paper, we shall prove a presentation for the fundamental group of the complement of a complexified real arrangement. (author). 7 refs

  5. Value Capture for Transportation Finance

    Zhirong (Jerry) Zhao; Michael Iacono; David Levinson

    2009-01-01

    As vehicles become more fuel-efficient and overall levels of travel stagnate in response to increases in fuel prices, conventional sources of revenue for transportation finance such as taxes on motor fuels have been put under increasing pressure. One potential replacement as a source of revenue is a set of policies collectively referred to as value capture policies. In contrast to fuel taxes and other instruments that impose charges on users of transportation networks, value capture policies ...

  6. Equilibrium Corporate Finance and Intermediation

    Bisin, Alberto; Gottardi, Piero; Ruta, Guido

    2014-01-01

    This paper analyzes a class of competitive economies with production, incomplete financial markets, and agency frictions. Firms take their production, financing, and contractual decisions so as to maximize their value under rational conjectures. We show that competitive equilibria exist and that shareholders always unanimously support firms' choices. In addition, equilibrium allocations have well-defined welfare properties: they are constrained efficient when information is symmetric, or when...

  7. Conformal symmetry in quantum finance

    The quantum finance symmetries are studied. In order to do this, the one dimensional free non-relativistic particle and its symmetries are revisited and the particle mass is identified as the inverse of square of the volatility. Furthermore, using financial variables, a Schrödinger algebra representation is constructed. In addition, it is shown that the operators of this last representation are not hermitian and not conserved.

  8. Introduction to Micro-finance

    Mariam SANGARÉ

    2008-01-01

    Micro-finance appears today as the most promising tool in the struggle against poverty and banking exclusion. By providing micro-credit, collecting saving and supplying microinsurance, microfinance institutions (MFIs) are renewing the banking activity by practices as innovative as the group lending method. However, the real impacts of the microfinance on target populations are to be confirmed, theirevaluation colliding with numerous difficulties. Nevertheless, the future development of micro-...

  9. Innovation Performance and Government Financing

    Svensson, Roger

    2006-01-01

    External financing is important when inventors and small technology-based firms wish to commercialize their inventions. However, it is likely that problems related to adverse selection and moral hazard are present, and market failures occur, since inventors know more about the inventions than do potential external financiers. To overcome these problems, the Swedish Government has intervened in the market by offering loans with different terms to firms and inventors. Using a unique database on...

  10. The fight against terrorist financing

    Clunan, Anne L.

    2006-01-01

    According to a well-informed former participant, the effort to combat terrorists' access to financial resources has been "the most successful part" of the global community's counterterrorism endeavor since the al Qaeda 11 September 2001 attacks on the United States. Genuine success, however, hinges on U.S. ability to successfully frame terrorist financing as a collective action problem, both internally, to overcome interagency rivalries, and internationally, to overcome the benefits of free-...

  11. ECONOMIC COST OF FOREIGN FINANCING

    Glenn Jenkins; Chun-Yan Kuo

    1999-01-01

    The conventional treatment by the economic appraisal of investments has been to disregard the particular terms of foreign financing as a benefit or cost. This approach is being called into question as the private provision of public services has become dominated by foreign investors and operators. Many of the BOT and BOO contracts are far from being transparent capital market transaction. This paper contains a methodology for introducing the measurement of extra costs or benefits attributable...

  12. Risk Measures in Quantitative Finance

    Sovan Mitra

    2009-01-01

    This paper was presented and written for two seminars: a national UK University Risk Conference and a Risk Management industry workshop. The target audience is therefore a cross section of Academics and industry professionals. The current ongoing global credit crunch has highlighted the importance of risk measurement in Finance to companies and regulators alike. Despite risk measurement's central importance to risk management, few papers exist reviewing them or following their evolution from ...

  13. Finance: Economic Lifeblood or Toxin?

    Pagano, Marco

    2012-01-01

    In the past two decades, academic research has produced massive evidence of the beneficial role of financial development for growth and the allocation of investment. Our current vision, however, is dominated by instances of dysfunctional behavior of financial markets associated with acute and widespread crises. This raises the issue of when and why finance ceases to be the “lifeblood” and turns into a “toxin” for real economic activity. This paper is a first step towards an answer. Its thesis...

  14. Financing a portfolio of projects

    Inderst, Roman; Mueller, Holger M.; Münnich, Felix

    2006-01-01

    This paper shows that investors financing a portfolio of projects may use the depth of their financial pockets to overcome entrepreneurial incentive problems. While competition for scarce informed capital at the refinancing stage increases the investor’s ex post bargaining position, it may nevertheless improve entrepreneurs’ ex ante incentives. This is because projects funded by investors with 'shallow pockets' must have not only a positive NPV at the refinancing stage, but one that is higher...

  15. Household finances and social interaction

    Brown, S; Taylor, K.

    2012-01-01

    In this paper, we investigate the relationship between social interaction and household finances using data from the British Household Panel Survey. We explore how social interaction influences the probability of holding different types of unsecured debt and assets, as well as how social interaction influences the levels of unsecured debt, financial assets and net worth held. Our findings suggest that social interaction has a positive influence upon the types of financial assets held, which i...

  16. Random monitoring in financing relationships

    Sami, Hind

    2009-01-01

    This paper examines a financier's optimal monitoring intensity in a multi-period financing relationship.We identify conditions under which the financier should sometimes misidentify the quality of an entrepreneur. Such an imperfect evaluation technology affects action choices by bad entrepreneurs. We first characterize the optimal monitoring intensity and show that it is one in which the investor monitors entrepreneurs randomly. Random monitoring in the first stage of a relationship induces b...

  17. 12 CFR 987.2 - Law governing rights and obligations of Banks, Finance Board, Office of Finance, United States...

    2010-01-01

    ..., Finance Board, Office of Finance, United States and Federal Reserve Banks; rights of any Person against Banks, Finance Board, Office of Finance, United States and Federal Reserve Banks. 987.2 Section 987.2 Banks and Banking FEDERAL HOUSING FINANCE BOARD OFFICE OF FINANCE BOOK-ENTRY PROCEDURE FOR...

  18. Development of high strength austenitic stainless steel for conduit of Nb3Al conductor

    Japan Atomic Energy Research Institute (JAERI) started developing new austenitic stainless steel for a conduit (1 - 2 mm) of a Nb3Al conductor in collaboration with Nippon Steel Corporation (NSC). A high strength austenitic stainless steel is required for a conduit of a Nb3Al conductor to make the best use of superconducting properties of a Nb3Al conductor. JAERI and NSC successfully developed the high strength austenitic stainless steel, JN1 (YS ≥ 1,300 MPa, KIc ≥ 200 MPa√m at 4K) for magnet structures having thick section. However, JN1 is not suitable for a conduit material because elongation of JN1 decreases to less than 10 % due to sensitization during reaction heat treatment for Nb3Al. Therefore, modification of JN1 was performed as a first step to develop a new conduit material which withstands Nb3Al reaction heating. Small trial lots heat-treated at 973 - 1173 K for 2 - 200 hours were prepared and evaluated by Charpy impact test and tensile test at 77 K and 4K. A material having yield strength of 1,390 MPa and elongation of 34 % after aging at 973 K x 200 h are developed up to now. This paper describes requirements on the mechanical properties and status of the development work. In addition, empirical equations to predict 4K yield strength, elongation, and Charpy absorbed energy from 77K data are proposed in this paper

  19. 78 FR 62324 - Village of Oak Lawn, Illinois; Notice of Preliminary Determination of a Qualifying Conduit...

    2013-10-16

    ... project would consist of: (1) A new intake pipeline receiving water from an existing 26-inch conduit... of water for agricultural, municipal, or industrial consumption and not primarily for the generation... Hydroelectric Turbine Installation Project would utilize Oak Lawn's water distribution system, and it would...

  20. 78 FR 61985 - City of Astoria, Oregon; Notice of Preliminary Determination of a Qualifying Conduit Hydropower...

    2013-10-09

    ... developments: Site one would consist of: (1) A new intake pipeline receiving water from an existing 26-inch... would consist of: (1) A new intake pipeline receiving water from an existing 21-inch conduit pipeline... of water for agricultural, municipal, or industrial consumption and not primarily for the...