WorldWideScience

Sample records for asset management

  1. Management of Intangible Assets

    OpenAIRE

    Ioan BIRCEA; Noemi Iuliana BIRCEA

    2011-01-01

    In a society marked by economic crisis, creating value and market competition becomes a heady company need. According to recent studies, in competitive companies, the highest share in the assets is hold by the value of intangible assets. Consequently, this involves the identification, measurement, management and efficient development of these inputs (knowledge, information, intellectual property, skilled labor, etc.). It is noted that, in the case of companies that have established management...

  2. Efficiently Inefficient Markets for Assets and Assets Management

    DEFF Research Database (Denmark)

    Garleanu, Nicolae; Heje Pedersen, Lasse

    We consider a model where investors can invest directly or search for an asset manager, information about assets is costly, and managers charge an endogenous fee. The efficiency of asset prices is linked to the efficiency of the asset management market: if investors can find managers more easily......, more money is allocated to active management, fees are lower, and asset prices are more efficient. Informed managers outperform after fees, uninformed managers underperform after fees, and the net performance of the average manager depends on the number of "noise allocators." Finally, we show why large...

  3. 24 CFR 990.270 - Asset management.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Asset management. 990.270 Section... THE PUBLIC HOUSING OPERATING FUND PROGRAM Asset Management § 990.270 Asset management. As owners, PHAs have asset management responsibilities that are above and beyond property management activities....

  4. Steam generator asset management: integrating technology and asset management

    International Nuclear Information System (INIS)

    Asset Management is an established but often misunderstood discipline that is gaining momentum within the nuclear generation industry. The global impetus behind the movement toward asset management is sustainability. The discipline of asset management is based upon three fundamental aspects; key performance indicators (KPI), activity-based cost accounting, and cost benefits/risk analysis. The technology associated with these three aspects is fairly well-developed, in all but the most critical area; cost benefits/risk analysis. There are software programs that calculate, trend, and display key-performance indicators to ensure high-level visibility. Activity-based costing is a little more difficult; requiring a consensus on the definition of what comprises an activity and then adjusting cost accounting systems to track. In the United States, the Nuclear Energy Institute's Standard Nuclear Process Model (SNPM) serves as the basis for activity-based costing. As a result, the software industry has quickly adapted to develop tracking systems that include the SNPM structure. Both the KPI's and the activity-based cost accounting feed the cost benefits/risk analysis to allow for continuous improvement and task optimization; the goal of asset management. In the case where the benefits and risks are clearly understood and defined, there has been much progress in applying technology for continuous improvement. Within the nuclear generation industry, more specialized and unique software systems have been developed for active components, such as pumps and motors. Active components lend themselves well to the application of asset management techniques because failure rates can be established, which serves as the basis to quantify risk in the cost-benefits/risk analysis. A key issue with respect to asset management technologies is only now being understood and addressed, that is how to manage passive components. Passive components, such as nuclear steam generators, reactor vessels

  5. Managing Assets in The Infrastructure Sector

    Directory of Open Access Journals (Sweden)

    T.P. van Houten

    2010-09-01

    Full Text Available In view of the importance of managing assets and the lack of research in managing assets in the infrastructure sector, we develop an asset management model in this study. This model is developed in line with the unique characteristics of the infrastructure assets and asset management principles and criteria. In the proposed model, we consider activities at three levels, namely the strategical, tactical and operational levels. The interviews with experts in asset management and officials in several Dutch organizations have proven the potential of our asset management model.

  6. Asset management techniques for transformers

    International Nuclear Information System (INIS)

    In a deregulated/reformed environment, the electric utilities are under constant pressure for reducing operating costs, enhancing the reliability of transmission and distribution equipments, and improving quality of power and services to the customer. Moreover, the risk involved in running the system without proper attention to assets integrity in service is quite high. Additionally, the probability of losing any equipment vital to the transmission and distribution system, such as power and distribution transformers, is increasing especially with the aging of power system's assets. Today the focus of operating the power system is changed and efforts are being directed to explore new approaches/techniques of monitoring, diagnosis, condition evaluation, maintenance, life assessment, and possibility of extending the life of existing assets. In this paper, a comprehensive illustration of the transformer asset management activities is presented. The importance of each activity together with the latest researches done in the area is highlighted. (author)

  7. The asset management business model

    International Nuclear Information System (INIS)

    This presentation describes the 4 transformation stages of the electric power industry as being vertical unbundling as seen in Europe and Asia, horizontal unbundling as seen in Canada and the United States, industry convergence as seen in Australia and New Zealand, and strategic consolidation as seen in the United Kingdom. The rationale for horizontal unbundling is described with reference to the asset owner, the asset manager and the utility service provider. The presentation includes several viewgraphs depicting the following: the asset management model; the path to success which was built upon a decade of experience; number of stock items from 1991 to 2001; substation capacity utilization from 1997 to 2001; O and M costs per customer from 1990 to 2000; reliability improvements from 1994 to 2000; the design, operation and maintenance of 13 investment pools; transition strategies for total transformation; and, regionally adjusted wage rates. 11 figs

  8. Modelling railway bridge asset management

    OpenAIRE

    Le, Bryant Linh Hai

    2014-01-01

    The UK has a long history in the railway industry with a large number of railway assets. Railway bridges form one of the major asset groups with more than 35,000 bridges. The majority of the bridge population are old being constructed over 100 years ago. Many of the bridges were not designed to meet the current network demand. With an expected increasing rate of deterioration due to the increasing traffic loads and intensities, the management authorities are faced with the difficult task of k...

  9. Approaches of Improving University Assets Management Efficiency

    Science.gov (United States)

    Wang, Jingliang

    2015-01-01

    University assets management, as an important content of modern university management, is generally confronted with the issue of low efficiency. Currently, to address the problems exposed in university assets management and take appropriate modification measures is an urgent issue in front of Chinese university assets management sectors. In this…

  10. Asset management of wastewater networks

    OpenAIRE

    Ugarelli, Rita Maria

    2008-01-01

    Asset Management (AM) is a set of procedures operable at the strategic-tacticaloperational level, for the management of the physical asset’s performance, associated risks and costs within its whole life-cycle. AM combines the engineering, managerial and informatics points of view. In addition to internal drivers, AM is driven by the demands of customers (social pull) and regulators (environmental mandates and economic considerations). AM can follow either a top-down or a bottom...

  11. 2014 World Congress on Engineering Asset Management

    CERN Document Server

    Hoohlo, Changela; Mathew, Joe

    2015-01-01

    Engineering asset management encompasses all types of engineered assets including built environment, infrastructure, plant, equipment, hardware systems and components. Following the release of ISO 5500x set of standards, the 9th WCEAM addresses the hugely important issue of what constitutes the body of knowledge in Engineering Asset Management. Topics discussed by Congress delegates are grouped into a number of tracks including strategies for investment and divestment of assets, operations and maintenance of assets, assessments of assets condition, risk and vulnerability, technologies and systems for management of asset, standards, education, training and certification. These proceedings include a sample of the wide range of topics presented during the 9th World Congress on Engineering Asset Management in Pretoria South Africa 28 – 31 October, 2014 and complements other emerging publications and standards that embrace the wide ranging issues concerning the management of engineered physical assets.

  12. Nuclear asset management. Slide notes

    International Nuclear Information System (INIS)

    Nuclear asset management is defined as the process for making resource allocation and risk management decisions at all levels of nuclear generation business to maximize value/profitability for all stakeholders while maintaining plant safety. In the presentation, the NAM concept is explained, financial benefits achieved in US industry over the past 12 years are outlined, Data Systems and Solutions (DS and S) is presented as a joint venture between Rolls-Royce and SAIC, and NAM benefits in nuclear industry from DS and S client experience are demonstrated. (P.A.)

  13. Investor Flows to Asset Managers

    DEFF Research Database (Denmark)

    Christoffersen, Susan E. K.; Musto, David K.; Wermers, Russ

    2014-01-01

    Cash flows between investors and funds are both cause and effect in a complex web of economic decisions. Among the issues at stake are the prospects and fees of the funds, the efforts and risk choices by the funds' managers, the pricing and comovement of the assets they trade, the stability...... of the financial system and the real economy, and the retirement security and protection of the investors. There is an accordingly large and growing literature on flows that has concentrated on the main retail investment pool, the open-end mutual fund, and has used flows to explore many aspects of retail financial...

  14. Asset management methodology in NPP Cofrentes

    International Nuclear Information System (INIS)

    The Cofrentes asset management plan is articulated around the tool SIGAN (computer management system of nuclear assets), this tool allows you to structure in an objective and documented the investment plan aimed at modernization and management of the plant life, achieving a consensus among the parties involved in terms of planning development and implementation.

  15. Engineering Asset Management and Infrastructure Sustainability : Proceedings of the 5th World Congress on Engineering Asset Management

    CERN Document Server

    Ma, Lin; Tan, Andy; Weijnen, Margot; Lee, Jay

    2012-01-01

    Engineering Asset Management 2010 represents state-of-the art trends and developments in the emerging field of engineering asset management as presented at the Fifth World Congress on Engineering Asset Management (WCEAM). The proceedings of the WCEAM 2010 is an excellent reference for practitioners, researchers and students in the multidisciplinary field of asset management, covering topics such as: Asset condition monitoring and intelligent maintenance Asset data warehousing, data mining and fusion Asset performance and level-of-service models Design and life-cycle integrity of physical assets Education and training in asset management Engineering standards in asset management Fault diagnosis and prognostics Financial analysis methods for physical assets Human dimensions in integrated asset management Information quality management Information systems and knowledge management Intelligent sensors and devices Maintenance strategies in asset management Optimisation decisions in asset management Risk management ...

  16. Integrated Facilities Management and Fixed Asset Accounting.

    Science.gov (United States)

    Golz, W. C., Jr.

    1984-01-01

    A record of a school district's assets--land, buildings, machinery, and equipment--can be a useful management tool that meets accounting requirements and provides appropriate information for budgeting, forecasting, and facilities management. (MLF)

  17. Life cycle management of hydro assets

    International Nuclear Information System (INIS)

    Acres International Ltd. has developed and implemented a risk-based approach to the management of hydro plant assets in a least-cost manner. Recently, the Canadian Energy Association initiated a study to enhance Acres' asset management model to derive practical and efficient programs for rehabilitation of hydroelectric power plants. The study also determined the feasibility of developing suitable failure probability curves for some plant components including woodstave penstocks, steel penstocks and transformers. The study showed that the asset management model is also useful in determining the optimum timing for implementing capital remedial measures. 15 refs., 1 tab., 7 figs

  18. 6th World Congress on Engineering Asset Management

    CERN Document Server

    Ni, Jun; Sarangapani, Jagnathan; Mathew, Joseph

    2014-01-01

    This text represents state-of-the-art trends and developments in the emerging field of engineering asset management as presented at the Sixth World Congress on Engineering Asset Management (WCEAM) held in Cincinnati, OH, USA from October 3-5, 2011 The Proceedings of the WCEAM 2011 is an excellent reference for practitioners, researchers and students in the multidisciplinary field of asset management, covering topics such as: • Asset condition monitoring and intelligent maintenance • Asset data warehousing, data mining and fusion • Asset performance and level-of-service models • Design and lifecycle integrity of physical assets • Deterioration and preservation models for assets • Education and training in asset management • Engineering standards in asset management • Fault diagnosis and prognostics • Financial analysis methods for physical assets • Human dimensions in integrated asset management • Information quality management • Information systems and knowledge management • Intellig...

  19. Developing sustainable advantage in asset management

    OpenAIRE

    Moles, Peter

    2006-01-01

    This paper considers how asset management firms seek to develop sustainable advantage in a fragmented industry that has few obvious economies of scale and scope. It shows that the generic competitive strategies of cost leadership and differentiation are both applicable but lead to very different types of asset management firms. The key differentiators for firms are in their investment philosophies and attitude to trading. How firms address these two dimensions leads to various ‘types’ of asse...

  20. Assessing Your Assets: Systems for Tracking and Managing IT Assets Can Save Time and Dollars

    Science.gov (United States)

    Holub, Patricia A.

    2007-01-01

    The average school district loses more than $80,000 per year because of lost or damaged IT assets, according to a QED survey cosponsored by Follett Software Company. And many districts--59 percent--still use manual systems to track assets. Enter asset management systems. Software for managing assets, when implemented properly, can save time,…

  1. Managing Knowledge Assets in Project Environments

    OpenAIRE

    Ionel NĂFTĂNĂILĂ

    2012-01-01

    Knowledge, as the main source of competitive advantage in today’s knowledge-based society, is often a fuzzy concept, with no direct referent in the real world. In order to conceptualize it people use the metaphor of knowledge assets, assets that can be managed, evaluated, invested in, and that became the main source of value creation within the organization. The paper’s main purpose is to present an overview of the perspectives on knowledge assets for a better identification of what they comp...

  2. The Theoretical Underpinnings of Customer Asset Management

    OpenAIRE

    Bolton, R.N.; Lemo, K.N.; Verhoef, Peter

    2002-01-01

    textabstractMost research in customer asset management has focused on specific aspects of the value of the customer to the company. The purpose of this article is to propose an integrated framework ? called CUSAMS -- that enables service organizations to comprehensively assess the value of their "customer assets" and to understand the influence of marketing instruments on them. The foundation of the CUSAMS framework is a careful specification of key customer behaviors that reflect the length,...

  3. Instandhaltung und Plant Asset Management - zwei Welten?

    Science.gov (United States)

    Horch, Alexander

    Der Begriff des Asset Management wird nicht mehr nur in der Finanzwelt gebraucht, sondern seit einigen Jahren auch zunehmend in der produzierenden Industrie, insbesondere in der Prozessindustrie. Die Interessengemeinschaft Automatisierungstechnik der Prozessindustrie, NAMUR, hat bereits im Jahr 2001 eine entsprechende Empfehlung zum Thema anlagennahes Asset Management (Plant Asset Management) vorgelegt. In dieser Empfehlung (NAMUR NE 91) taucht der Begriff 'Instandhaltung' in verschiedener Verwendung 15 Mal auf. Die klassische Instandhaltung ist seit vielen Jahren wohl etabliert und definiert, was die große Anzahl Richtlinien, Beschreibungen und Standards belegt (DIN 31051, VDI 2884, VDI 2888, VDI 2889, VDI 2890). Eine oft geäußerte Kritik dem Plant Asset Management gegenüber ist, dass im Grunde nichts Neues angeboten wird, über die Instandhaltung hinaus. Auf der anderen Seite wird das Plant Asset Management seit über zehn Jahren vermehrt gebraucht und etabliert. Dieser scheinbare Widerspruch soll in diesem Beitrag ausgeräumt werden. Als Motivation sollen drei Beispiele kurz beschrieben werden.

  4. Computer Based Asset Management System For Commercial Banks

    OpenAIRE

    Amanze; Bethran Chibuike

    2015-01-01

    ABSTRACT The Computer-based Asset Management System is a web-based system. It allows commercial banks to keep track of their assets. The most advantages of this system are the effective management of asset by keeping records of the asset and retrieval of information. In this research I gather the information to define the requirements of the new application and look at factors how commercial banks managed their asset.

  5. Operational management of offshore energy assets

    Science.gov (United States)

    Kolios, A. J.; Martinez Luengo, M.

    2016-02-01

    Energy assets and especially those deployed offshore are subject to a variety of harsh operational and environmental conditions which lead to deterioration of their performance and structural capacity over time. The aim of reduction of CAPEX in new installations shifts focus to operational management to monitor and assess performance of critical assets ensuring their fitness for service throughout their service life and also to provide appropriate and effective information towards requalification or other end of life scenarios, optimizing the OPEX. Over the last decades, the offshore oil & gas industry has developed and applied various approaches in operational management of assets through Structural Health and Condition Monitoring (SHM/CM) systems which can be, at a certain level, transferable to offshore renewable installations. This paper aims to highlight the key differences between offshore oil & gas and renewable energy assets from a structural integrity and reliability perspective, provide a comprehensive overview of different approaches that are available and applicable, and distinguish the benefits of such systems in the efficient operation of offshore energy assets.

  6. The Theoretical Underpinnings of Customer Asset Management

    NARCIS (Netherlands)

    R.N. Bolton; K.N. Lemo; P.C. Verhoef (Peter)

    2002-01-01

    textabstractMost research in customer asset management has focused on specific aspects of the value of the customer to the company. The purpose of this article is to propose an integrated framework ? called CUSAMS -- that enables service organizations to comprehensively assess the value of their "cu

  7. System development and asset management under restructuring

    International Nuclear Information System (INIS)

    In many developed countries the electricity infrastructure contains ageing assets. Because of the need of a continuing operation and higher load factors on the network, the opportunities for replacement or refurbishment are limited. These must be regarded as an opportunity to review the structure of the system and to consider the design and development required to meet the new requirements, taking advantage of new available technologies: HVDC, FACTS, cables, etc. The symposium examines assets management issues and assesses strategies for overhauling existing systems, taking into account the impact on market operation, on supply security and environment

  8. Three-dimensional GIS approach for management of assets

    International Nuclear Information System (INIS)

    Assets play an important role in human life, especially to an organization. Organizations strive and put more effort to improve its operation and assets management. The development of GIS technology has become a powerful tool in management as it is able to provide a complete inventory for managing assets with location-based information. Spatial information is one of the requirements in decision making in various areas, including asset management in the buildings. This paper describes a 3D GIS approach for management of assets. An asset management system was developed by integrating GIS concept and 3D model assets. The purposes of 3D visualization to manage assets are to facilitate the analysis and understanding in the complex environment. Behind the 3D model of assets is a database to store the asset information. A user-friendly interface was also designed for more easier to operate the application. In the application developed, location of each individual asset can be easily tracked according to the referring spatial information and 3D viewing. The 3D GIS approach described in this paper is certainly would be useful in asset management. Systematic management of assets can be carried out and this will lead to less-time consuming and cost-effective. The results in this paper will show a new approach to improve asset management

  9. Ontology modeling in physical asset integrity management

    CERN Document Server

    Yacout, Soumaya

    2015-01-01

    This book presents cutting-edge applications of, and up-to-date research on, ontology engineering techniques in the physical asset integrity domain. Though a survey of state-of-the-art theory and methods on ontology engineering, the authors emphasize essential topics including data integration modeling, knowledge representation, and semantic interpretation. The book also reflects novel topics dealing with the advanced problems of physical asset integrity applications such as heterogeneity, data inconsistency, and interoperability existing in design and utilization. With a distinctive focus on applications relevant in heavy industry, Ontology Modeling in Physical Asset Integrity Management is ideal for practicing industrial and mechanical engineers working in the field, as well as researchers and graduate concerned with ontology engineering in physical systems life cycles. This book also: Introduces practicing engineers, research scientists, and graduate students to ontology engineering as a modeling techniqu...

  10. Legacy Management. Turning liabilities into assets

    International Nuclear Information System (INIS)

    The Legacy Management (LM) Program has responsibility for management of over 85 post-closure sites across the United States. The program was formed through a consolidation of AEC/DOE sites being managed under separate programs and with diverse geography, regulatory bases, residual contaminants, and operating histories. Through development and implementation of a nation-wide program to ensure public safety, remedy performance, compliance, records management and ongoing stakeholder communication, the program has become efficient at meeting post-closure responsibilities and effective at proactively turning these liabilities into assets. (author)

  11. 49 CFR 639.33 - Management of leased assets.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 7 2010-10-01 2010-10-01 false Management of leased assets. 639.33 Section 639.33..., DEPARTMENT OF TRANSPORTATION CAPITAL LEASES Lease Management § 639.33 Management of leased assets. Each recipient must maintain an inventory of capital assets acquired by standard FTA project...

  12. Earnings Management and Valuation of Biological Assets

    Directory of Open Access Journals (Sweden)

    Ricardo Luiz Menezes da Silva

    2015-01-01

    Full Text Available The use of fair value to measure the worth of biological assets allows discretionary choices when using discounted cash flow in the absence of an active market, influencing the quality of accounting information. The objective of this study was to investigate evidence of earnings management among Brazilian companies that have adopted fair value based on the discounted cash flow method. The firms were investigated with regard to: a disclosure of the discount rate, b BM&FBovespa corporate governance levels; and c adherence to disclosure requirements in the Brazilian accounting standard CPC 29 (IAS 41. We analyzed 31 firms with significant biological assets from 2010 to 2012. The earnings management measurements were calculated according to the modified Jones, the Teoh, Welch and Wong (1998, and the KS models. The Mann-Whitney test of the means was applied and revealed evidence of greater earnings management for companies that use discounted cash flow, and the ones that least meet CPC 29 disclosure requirements, considering the KS model estimates. Regarding the other proposals, testing did not offer enough evidence of differences in discretionary accruals. In this sense, only hypotheses 1 and 4 are partially accepted, demanding more research in this area. We also present evidence in favor of adopting Exposure Draft ED/2013/08 Agriculture: Bearer Plants, Proposed amendments to IAS 16 and IAS 41, which proposes to measure biological assets at cost, because firms already following these rules showed lower earnings management in this study.

  13. HIGHER LEVEL OF INTELLECTUAL ASSET MANAGEMENT

    Directory of Open Access Journals (Sweden)

    ROMANESC MARCEL LAURENTIU

    2014-05-01

    Full Text Available Creation and dissemination of knowledge is to be found in his wish of activity of any university. The challenge is to achieve in the best way on the use of these knowledge as an asset that can provide maximum value economy, society and university in itself. Most university are aware of how to market the results obtained through personal research carried out by his own personal. Therefore the management of universities realized that there is a need that they will be able to create an overall strategy for managing intellectual property, in accordance with their mission. This study is aimed at identifying strategies oriented to optimize benefits of assets intellectual property created by staff and students a university. This study will help generate the best strategies for intellectual property approaches, every institution in benefit of all (economy, society or any education institution.

  14. Implementing condition based maintenance within an asset management framework

    OpenAIRE

    Gusfre, David

    2010-01-01

     Condition Based Maintenance within an Asset Management Framework Description: The thesis shall describe how to implement Condition Based Maintenance within an Asset Management context. Asset Management (AM) is an area within Oil & Gas (O&G) Business with a large development potential in order to give companies added value in their operations. With the increased use of Integrated Operations concepts, a new approach for maintenance engineering is necessary. The asset performance is a resul...

  15. A Bank Asset and Liability Management Model

    OpenAIRE

    Kusy, M.I.; W. T. Ziemba

    1983-01-01

    The uncertainty of a bank's cash flows, cost of funds and return on investments due to inherent factors and variable economic conditions has emphasized the need for greater efficiency in the management of asset and liabilities. A primary goal is to determine an optimal tradeoff between risk, return, and liquidity. In this paper we develop a multiperiod stochastic linear programming model (ALM) that includes the essential institutional, legal, financial, and bank related policy considerations,...

  16. Individual and institutional asset liability management

    OpenAIRE

    Hainaut, Donatien

    2007-01-01

    One of the classical problems in finance is that of an economic unit who aims at maximizing his expected life-time utility from consumption and/or terminal wealth by an effective asset-liability management. The purpose of this thesis is to determine the optimal investment strategies , from the point of view of their economic utility, for individual and institutional investors such pension funds.

  17. Benefits of Reliability Centred Asset Management

    OpenAIRE

    Hilber, Patrik; Wallnerström, Carl Johan; Rosenlind, Johanna; Babu, Sajeesh; Westerlund, Per

    2013-01-01

    This paper provides an overview of risk and reliability assessment techniques, some which are available for distribution system operators, and others that are in the process of development. The main contribution of this paper is showing the possibilities and benefits of detailed risk and reliability analysis. Six samples of findings from research developed over the last decade within the RCAM group (Reliability Centred Asset Management) at the Royal Institute of Technology, Stockholm Sweden, ...

  18. IMPLEMENTATION OF ASSET MANAGEMENT IN ROAD ADMINISTRATION OF SLOVAK REPUBLIC

    Directory of Open Access Journals (Sweden)

    Ľubomír Pepucha

    2014-03-01

    Full Text Available The article presents basic principles and solutions for the application of Asset Management as part of road administration in Slovakia. It deals with application of Assets management methods and best practices of global trends in road maintenance, repair and rehabilitation strategies. An effective public Asset Management combines principles and strategies of asset management used in private sector with sound practices and methods proven to be applicable by public road administrator and his digital information systems. The under-funding of road management leads to development of tools and methods, which enable us to define criteria for establishing priorities for investments into road assets.

  19. Nuclear industry strategic asset management: Managing nuclear assets in a competitive environment

    International Nuclear Information System (INIS)

    The former Electric Power Research Institute took the lead in developing an approach now widely known as strategic asset management (SAM). The SAM methodology applies the tools of decision/risk analysis used in the financial community to clarify effective use of physical assets and resources to create value: to build a clear line of sight to value creation. SAM processes have been used in both the power and other industries. The rapid change taking place in the nuclear business creates the need for competitive decision making regarding the management of nuclear assets. The nuclear industry is moving into an era in which shareholder value is determined by the net revenues earned on power marketed in a highly competitive and frequently low-priced power market environment

  20. Continued Learning in Asset Management for the Dutch Transport Network

    OpenAIRE

    L. Volker; Van der Lei, T.E.; Van den Boom, M.; Van Der Velde, J.; Wessels, P.; Ligtvoet, A.; Herder, P.M.

    2012-01-01

    Asset management aims at improving the overall performance of assetintensive industries by making and executing systematic and highest value decisions about the use and care of assets. To assist organizations to improve their asset management performance, maturity models can be used. In this paper we describe two applications of the Infrastructure Management Maturity Matrix (IM³). The IM³ consists of five maturity levels on the vertical axis (ad hoc, repeatable, standard, managed, optimal), a...

  1. Capital asset management process: the case of Hose & Fittings Corporation

    OpenAIRE

    Sung C. Bae; Bell J.C. Park; Tracy Wagner

    2005-01-01

    Purpose – To develop a more effective, long-term-oriented capital asset management process for capital project evaluation Design/methodology/approach – Relying on a cash study format, the weaknesses of the traditional capital budgeting process are examined. The proposed capital asset management process is contrasted with the traditional process with respect to several aspects of long-term resource management. Flow-charts and evaluation matrices are presented. Findings – The capital asset mana...

  2. 12 CFR 704.8 - Asset and liability management.

    Science.gov (United States)

    2010-01-01

    ... used as a basis of estimation. (b) Asset and liability management committee (ALCO). A corporate credit... risk management policies. (c) Penalty for early withdrawals. A corporate credit union that permits... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Asset and liability management. 704.8...

  3. A PERFORMANCE MANAGEMENT MODEL FOR PHYSICAL ASSET MANAGEMENT

    Directory of Open Access Journals (Sweden)

    J.L. Jooste

    2012-01-01

    Full Text Available

    ENGLISH ABSTRACT: There has been an emphasis shift from maintenance management towards asset management, where the focus is on reliable and operational equipment and on effective assets at optimum life-cycle costs. A challenge in the manufacturing industry is to develop an asset performance management model that is integrated with business processes and strategies. The authors developed the APM2 model to satisfy that requirement. The model has a generic reference structure and is supported by operational protocols to assist in operations management. It facilitates performance measurement, business integration and continuous improvement, whilst exposing industry to the latest developments in asset performance management.

    AFRIKAANSE OPSOMMING: Daar is ‘n klemverskuiwing vanaf onderhoudsbestuur na batebestuur, waar daar gefokus word op betroubare en operasionele toerusting, asook effektiewe bates teen optimum lewensikluskoste. ‘n Uitdaging in die vervaardigingsindustrie is die ontwikkeling van ‘n prestasiemodel vir bates, wat geïntegreer is met besigheidsprosesse en –strategieë. Die outeurs het die APM2 model ontwikkel om in hierdie behoefte te voorsien. Die model het ‘n generiese verwysingsstruktuur, wat ondersteun word deur operasionele instruksies wat operasionele bestuur bevorder. Dit fasiliteer prestasiebestuur, besigheidsintegrasie en voortdurende verbetering, terwyl dit die industrie ook blootstel aan die nuutste ontwikkelinge in prestasiebestuur van bates.

  4. ASSESSMENT OF BANKING ASSETS ON FINANCIAL RISK MANAGEMENT - ALBANIAN CASE

    OpenAIRE

    ADRIATIK KOTORRI; MIRELA MITI; INGRIT KONOMI

    2014-01-01

    Recognizing the asset value dynamics volatility of the financial institutions and the importance of its recognition both for financial reporting purposes and risk management effect, this paper aims to provide a practical model for the assets and financial institutions evaluation especially banks. It also aims to present a model to measure the value of banking assets for the purposes of risk management as an opportunity to identify in an early moment the banking risks. The pape...

  5. Asset ranking manager (ranking index of components)

    International Nuclear Information System (INIS)

    The Ranking Index of Components (RIC) is an Asset Reliability Manager (ARM), which itself is a Web Enabled front end where plant database information fields from several disparate databases are combined. That information is used to create a specific weighted number (Ranking Index) relating to that components health and risk to the site. The higher the number, the higher priority that any work associated with that component receives. ARM provides site Engineering, Maintenance and Work Control personnel with a composite real time - (current condition) look at the components 'risk of not working' to the plant. Information is extracted from the existing Computerized Maintenance management System (CMMS) and specific site applications and processed nightly. ARM helps to ensure that the most important work is placed into the workweeks and the non value added work is either deferred, frequency changed or deleted. This information is on the web, updated each night, and available for all employees to use. This effort assists the work management specialist when allocating limited resources to the most important work. The use of this tool has maximized resource usage, performing the most critical work with available resources. The ARM numbers are valued inputs into work scoping for the workweek managers. System and Component Engineers are using ARM to identify the components that are at 'risk of failure' and therefore should be placed into the appropriate work week schedule

  6. Recent Reforms in Asset Management in New Zealand

    OpenAIRE

    Gimblett, Murray

    2015-01-01

    This presentation covers some of the changes to asset management following a comprehensive review of road maintenance in New Zealand. The review suggested increased efficiency could be realized by changing business models, procurement, asset management and critically examining levels of service.

  7. Prudent management of utility assets -- Problem or promise?

    International Nuclear Information System (INIS)

    As utilities move into a deregulated market, the extent and nature of their asset base, as well as, the manner in which they have managed it, may play a key factor in the form of regulatory recovery. Utilities must face the issue of stranded assets. One form of addressing this issue is using ''EVA'', Economic Value Added as a mechanism to form financial models for prudent asset management. The authors present an approach to this challenging aspect of deregulation. They focus on the following utility assets: buildings/facilities, and excess real physical assets. Primarily focusing on Niagara Mohawk, two or three case studies are used to demonstrate how proactive management and EVA analysis transforms underperforming utility assets. These will be presented in a way that can show benefits for all utility stakeholders such as cost avoidance, load growth, real estate tax savings, stranded asset reductions, environmental gains, corporate image enhancement, and regulatory/governmental gains; over and above possible economic gains. Examples will be given that include the transformation of utility assets into award winning commercial, residential, and industrial developments as well as recreational/park lands and greenways. Similarly, other examples will show the many tangible and intangible benefits of an effective investment recovery and waste stream management program. Various strategies will also be presented that detail how utilities can begin to develop a total comprehensive plan for their asset portfolio. The first step in realizing and maximizing EVA towards a portfolio of assets is a change in corporate policy--one from passive ownership to active prudent management. Service and cost will drive competition resulting from full deregulation. To drive down costs, utilities will need to become more efficient in dealing with their asset base. By embracing an EVA model on an entire asset portfolio, utilities can prepare and excel in the newly shaped marketplace

  8. Analytical Provision of Management of Intangible Assets

    Directory of Open Access Journals (Sweden)

    Shelest Viktoriya S.

    2013-11-01

    Full Text Available The goal of the article lies in the study of the process of conduct of economic analysis of such a complex product of the innovation and information society as objects of intellectual property, which are accepted in business accounting as intangible assets. All-absorbing integration processes in the economy and large-scale propagation of information technologies influence the capital structure. Thus, accepting intangible assets as a driving factor of competitiveness, enterprises prefer namely these assets, reducing the share of tangible assets. Taking this into account the scientists thoroughly studied the issues of economic analysis of intangible assets, since the obtained data are the main source of accounting and analytical information required for making weighted managerial decisions. At the same time, the issues of authenticity, accuracy, efficiency and transparency of the obtained results become topical. In the process of the study the article shows information content of the accounting and analytical data due to introduction of accounting and conduct of economic analysis of intangible assets. The article considers the modern state of the methods of analysis of intangible assets based on opinions of scientists. It characterises economic and legal state of development of licence agreements in Ukraine. It justifies economic expediency of use of such agreements. It forms the ways of making efficient managerial decisions on use of intangible assets in economic activity of subjects of entrepreneurship.

  9. 75 FR 43197 - Public Housing Assessment System (PHAS): Asset Management Transition Year 2 Extension

    Science.gov (United States)

    2010-07-23

    ... notice, Public Housing Assessment System (PHAS): Asset Management Transition Year 2 Information (75 FR... Register notice (FR-5227- N-01), ``Public Housing Assessment System (PHAS): Asset Management Transition... URBAN DEVELOPMENT Public Housing Assessment System (PHAS): Asset Management Transition Year 2...

  10. 7th World Congress on Engineering Asset Management

    CERN Document Server

    Choi, Byeongkuen; Ma, Lin; Mathew, Joseph

    2015-01-01

    These proceedings comprise 60 refereed papers of the Seventh World Congress on Engineering Asset Management (WCEAM) that was held in Deajeon City, Korea from 8-9 October 2012. The material is a compilation of state-of-the-art papers in the field covering a comprehensive range of subjects that are equally relevant to business managers and engineering professionals alike. Proceedings of the 7th World Congress on Engineering Asset Management (WCEAM 2012): Towards Integration and Interoperability in EAM covers a wide range of topics in the discipline of engineering asset management, including: ·         strategic asset management ·         condition monitoring and diagnostics ·         integrated intelligent maintenance ·         sensors and devices ·         information quality & management; ·         sustainability in asset management ·         asset performance and knowledge management ·         data mining and AI techniques in asset m...

  11. Managing Risks in Electrical Infrastructure Assets from a Strategic Perspective

    OpenAIRE

    Zhuang, Q.

    2015-01-01

    Should risks always be quantified before being managed? The answer is “yes” in the opinion of most asset managers in today’s electricity transmission and distribution companies, but “no” in modern theories of risk management. When the risks refer to reliability hazards of high-voltage assets, the answer to the above question is “yes, it should be, but not yet”. The first part of this thesis studies a typical cause of this situation: when data and knowledge on high-voltage assets are insuffici...

  12. Inventory Management with Asset-Based Financing

    OpenAIRE

    John A. Buzacott; Rachel Q. Zhang

    2004-01-01

    Most of the traditional models in production and inventory control ignore the financial states of an organization and can lead to infeasible practices in real systems. This paper is the first attempt to incorporate asset-based financing into production decisions. Instead of setting a known, exogenously determined budgetary constraint as most existing models suggest, we model the available cash in each period as a function of assets and liabilities that may be updated periodically according to...

  13. Analytical Provision of Management of Intangible Assets

    OpenAIRE

    Shelest Viktoriya S.

    2013-01-01

    The goal of the article lies in the study of the process of conduct of economic analysis of such a complex product of the innovation and information society as objects of intellectual property, which are accepted in business accounting as intangible assets. All-absorbing integration processes in the economy and large-scale propagation of information technologies influence the capital structure. Thus, accepting intangible assets as a driving factor of competitiveness, enterprises prefer namely...

  14. ASSESSMENT OF BANKING ASSETS ON FINANCIAL RISK MANAGEMENT - ALBANIAN CASE

    Directory of Open Access Journals (Sweden)

    ADRIATIK KOTORRI

    2014-02-01

    Full Text Available Recognizing the asset value dynamics volatility of the financial institutions and the importance of its recognition both for financial reporting purposes and risk management effect, this paper aims to provide a practical model for the assets and financial institutions evaluation especially banks. It also aims to present a model to measure the value of banking assets for the purposes of risk management as an opportunity to identify in an early moment the banking risks. The paper develops the bank assets assessment forms and the basis of mathematical modeling of this assessment in general. He identifies also the evaluation factors as for example time to maturity, interest rate market for the assets (YTM, the interest rate agreed, the early repayment of the loan, interest ceilings and floors, off-balance sheet treatment, etc..

  15. Dynamic Scenario Modelling in Electricity Distribution System Asset Management

    OpenAIRE

    Palola, Jussi

    2014-01-01

    The life of individuals, societal welfare and global economics are deeply interconnected with power systems in a multidimensional manner. A change in one entity affects the whole system. This thesis is a research journey from electrical distribution systems to global economics, and finally to power transformer unit asset management. The objective is to investigate dynamic scenario modelling in power system asset management and apply it to a distribution system operator’s power transformer fle...

  16. Approaches to Improving Asset Structure Management in Commercial Banks

    Directory of Open Access Journals (Sweden)

    Ahsan Akbar

    2015-04-01

    Full Text Available The financial crises of 2008 and afterwards the European debt crisis made it clearer that the financial and macroeconomic conditions can change quickly. For that reason ensuring asset quality and profitability in response to the changing environment remains an important concern. This study considers the key problems in asset structure management and discusses several techniques outlined by managers and academicians to tackle these problems. The important problems of banks are the need to dynamically boost asset and liability structure, to make sure profitability of operations and to curtail risks. This can be done by jointly structuring asset and liability portfolios, using the gap technique for management of interest rate risk and increasing the range of profitable business operations. However these techniques should be coupled with efficient and sophisticated analysis of financial and economic indicators.

  17. Orchestrated management of heterogeneous sensors incorporating feedback from intelligence assets

    Science.gov (United States)

    Sarkale, Yugandhar; Chong, Edwin K. P.

    2015-05-01

    We develop a method for autonomous management of multiple heterogeneous sensors mounted on unmanned aerial vehicles (UAVs) for multitarget tracking. The main contribution of the paper is incorporation of feedback received from intelligence assets (humans) on priorities assigned to specific targets. We formulate the problem as a partially observable Markov decision processes (POMDP) where information received from assets is captured as a penalty on the cost function. The resulting constrained optimization problem is solved using an augmented Lagrangian method. Information obtained from sensors and assets is fused centrally for guiding the UAVs to track these targets.

  18. Operations Research Approaches to Asset Management in Freight Rail

    DEFF Research Database (Denmark)

    Gorman, Michael F.; Harrod, Steven

    2011-01-01

    This article describes operations research methodologies as they apply to asset management in freight rail. We describe state-of-the-art methods for locomotive, crew, railcar, line and yard planning and management. We conclude with emerging areas of research in rail.......This article describes operations research methodologies as they apply to asset management in freight rail. We describe state-of-the-art methods for locomotive, crew, railcar, line and yard planning and management. We conclude with emerging areas of research in rail....

  19. Human Assets in the Social Control Management

    OpenAIRE

    Varzaru Anca Antoaneta; Varzaru Mihai

    2010-01-01

    Attempts to quantify the human assets of an organization happened the first time in the US in 1960, when it was tried to end it in their balance sheet. This idea of quantification started to analyze the differences in value between similarities or changes made in time by the same organization and the premises had the decisive contribution of human activities. The practical consequences of the current research on human activities were not eloquent. In recent years the problems of quantificatio...

  20. Keynes, King's and Endowment Asset Management

    OpenAIRE

    David Chambers; Elroy Dimson; Justin Foo

    2014-01-01

    Founded in 1441, King's College was one of Cambridge University's wealthiest Colleges, endowed with a vast agricultural portfolio. John Maynard Keynes was appointed bursar just after WWI and initiated a major reallocation to equities, an innovation at least as radical as the late 20th century commitment to illiquid assets by Harvard and Yale. Keynes initially pursued a market-timing approach to investment with mixed success and failed to anticipate the 1929 market crash. Thereafter, his switc...

  1. 8th World Congress on Engineering Asset Management & the 3rd International Conference on Utility Management & Safety

    CERN Document Server

    Mathew, Joseph; Wong, King; Lam, Rocky; Ko, CN; WCEAM 2013; ICUMAS; Engineering asset management : systems, professional practices and certification

    2015-01-01

    This proceedings represents state-of-the-art trends and developments in the emerging field of engineering asset management as presented at the Eight World Congress on Engineering Asset Management (WCEAM). The Proceedings of the WCEAM 2013 is an excellent reference for practitioners, researchers and students in the multidisciplinary field of asset management, covering topics such as: Asset condition monitoring and intelligent maintenance, 2.  Asset data warehousing, data mining and fusion, 3. Asset performance and level-of-service models, 4. Design and life-cycle integrity of physical assets, 5. Deterioration and preservation models for assets, 6. Education and training in asset management, 7. Engineering standards in asset management, 8. Fault diagnosis and prognostics, 9. Financial analysis methods for physical assets, 10. Human dimensions in integrated asset management, 11. Information quality management, 12. Information systems and knowledge management, 13. Intelligent sensors and devices, 14. Maintenance...

  2. 10th World Congress on Engineering Asset Management

    CERN Document Server

    Kortelainen, Helena; Aaltonen, Jussi; Uusitalo, Teuvo; Komonen, Kari; Mathew, Joseph; Laitinen, Jouko

    2016-01-01

    This book comprises refereed papers from the 10th World Congress on Engineering Asset Management (WCEAM 2015), held in Tampere, Finland in September 2015. These proceedings include a compilation of state-of-the-art papers covering a comprehensive range of subjects equally relevant to business managers and engineering professionals alike. With a focus on various aspects of engineering asset management ranging from strategic level issues to detail-level machine health issues, these papers address both industry and public sector concerns and issues, as well as advanced academic research. Proceedings of the WCEAM 2015 is an excellent reference and resource for asset management practitioners, researchers and academics, as well as undergraduate and postgraduate students at tertiary institutions or in the industry.

  3. Optimizing the Banking Activity Using Assets & Liabilities Management

    Directory of Open Access Journals (Sweden)

    Vasile Dedu

    2008-10-01

    Full Text Available In the actual study, starting from the international experience, we revealed the role that should be taken by the Assets and Liabilities Committee (ALCO within the Romanian commercial banks. ALCO became one of the tools used by the executive management of the banks to take decisions regarding the future policy of assets and liabilities management, relying on the synthetic information prepared by well trained technicians but without voting right (usually middle management staff. We consider that the implementation of an assets and liabilities management strategy cannot be done without an appropriate corporate governance structure, even though the bank is having highly specialized staff. Models of some western banking institutions may be considered as benchmarks by the Romanian banks.

  4. Fleet wide motor asset management program

    International Nuclear Information System (INIS)

    The Institute of Nuclear Power Operations (INPO) performed several studies concerning the effects of motor failures on US power production. Problems with aging and the lack of preventative maintenance were noted as major contributors to this production loss. Westinghouse has developed, and successfully utilized, a computer program to assist plants in the decision making process for maximizing the operational availability of their motor fleet. The program considers motors of a fleet as a single, critical to production asset, and aids the operator in decisions regarding the following: 1.) Purchase of spares. 2.) Rewind and refurbishment prioritization. 3.) Long-term budget forecasting. (author)

  5. Managing the growing complexity in information system implementation projects - Case study of Maximo asset management system

    OpenAIRE

    Holmborg, Markus

    2013-01-01

    Objectives of the Study The main objective in this study is to answer to the two main research questions: what factors cause complexity in Maximo asset management system implementation projects, and how the complexity in Maximo implementation projects can be effectively managed. The purpose of this study is also to give an overview of enterprise asset management field and the Maximo asset management system. In the empirical part it is also briefly discussed how the complexity varies betwe...

  6. Integrated Space Asset Management Database and Modeling

    Science.gov (United States)

    Gagliano, L.; MacLeod, T.; Mason, S.; Percy, T.; Prescott, J.

    The Space Asset Management Database (SAM-D) was implemented in order to effectively track known objects in space by ingesting information from a variety of databases and performing calculations to determine the expected position of the object at a specified time. While SAM-D performs this task very well, it is limited by technology and is not available outside of the local user base. Modeling and simulation can be powerful tools to exploit the information contained in SAM-D. However, the current system does not allow proper integration options for combining the data with both legacy and new M&S tools. A more capable data management infrastructure would extend SAM-D to support the larger data sets to be generated by the COI. A service-oriented architecture model will allow it to easily expand to incorporate new capabilities, including advanced analytics, M&S tools, fusion techniques and user interface for visualizations. Based on a web-centric approach, the entire COI will be able to access the data and related analytics. In addition, tight control of information sharing policy will increase confidence in the system, which would encourage industry partners to provide commercial data. SIMON is a Government off the Shelf information sharing platform in use throughout DoD and DHS information sharing and situation awareness communities. SIMON providing fine grained control to data owners allowing them to determine exactly how and when their data is shared. SIMON supports a micro-service approach to system development, meaning M&S and analytic services can be easily built or adapted. It is uniquely positioned to fill this need as an information-sharing platform with a proven track record of successful situational awareness system deployments. Combined with the integration of new and legacy M&S tools, a SIMON-based architecture will provide a robust SA environment for the NASA SA COI that can be extended and expanded indefinitely. First Results of Coherent Uplink from a

  7. DOE Asset Revitalization: Sustainability and Waste Management Aspects - 12120

    International Nuclear Information System (INIS)

    In February 2011 Secretary of Energy Steven Chu established a Task Force on Asset Revitalization to facilitate a discussion among the Department of Energy (DOE), communities around DOE sites, non-profits, tribal governments, the private sector, and other stakeholders to identify reuse approaches as environmental cleanup efforts at DOE sites reach completion. The Task Force was charged with exploring opportunities to reuse DOE site assets for beneficial purposes and making recommendations to the Under Secretaries of Energy, Science, and Nuclear Security on the formation of an Asset Revitalization Initiative (ARI). The ARI is a Department-wide effort to advance the beneficial reuse of the DOE's unique and diverse mix of assets including land, facilities, infrastructure, equipment, technologies, natural resources, and a highly skilled workforce. The ARI will encourage collaboration between the public and private sectors in order to achieve energy and environmental goals as well as to stimulate and diversify regional economies. The recommendations of the ARI Task Force are summarized below, focusing on the sustainability and waste management aspects. DOE's ongoing completion of cleanup efforts and modernization efforts is creating opportunities to transition under-used or excess assets to future beneficial use. The FY 2011 DOE ARI Task Force determined that DOE's assets could be reused for beneficial purposes such as clean energy production, industrial manufacturing, recreational and conversation use, and other economic development initiatives. Asset revitalization has the potential to both help achieve DOE's energy and environmental goals and diversify regional economies where the sites are located, including providing the support needed to implement large-scale projects that achieve green sustainability goals. Asset revitalization efforts could be accelerated by effectively incorporating future use plans into environmental management and remediation efforts. (authors)

  8. RFID Application of Smart Grid for Asset Management

    Directory of Open Access Journals (Sweden)

    Xiwei Wang

    2013-01-01

    Full Text Available RFID technology research has resolved practical application issues of the power industry such as assets management, working environment control, and vehicle networking. Also it provides technical reserves for the convergence of ERP and CPS. With the development of RFID and location-based services technology, RFID is converging with a variety of sensing, communication, and information technologies. Indoor positioning applications are under rapid development. Micromanagement environment of the assets is a useful practice for the RFID and positioning. In this paper, the model for RFID applications has been analyzed in the microenvironment management of the data center and electric vehicle batteries, and the optimization scheme of enterprise asset management is also proposed.

  9. The Future of the U.S. Asset Management Industry

    OpenAIRE

    Shojai, Shahin

    2001-01-01

    The U.S. asset management industry is undergoing revolutionary change as a result of the Internet revolution. Power is shifting from large institutions to private investors, who are becoming reticent to pay mutual fund managers to underperform the indices. Today's individual investor is demanding the same personalization that has been common to institutional investors, and they are paying less for that privilege. For example, like institutions, individual investors can now choose their manage...

  10. A Case Study of Risk Informed Asset Management (RIAM) for Nuclear Power Plant

    International Nuclear Information System (INIS)

    Recently, the concern for Nuclear Asset Management (NAM) is increasing in nuclear industry. Asset Management is management of the financial assets of a company in order to maximize return. However, asset management in the nuclear industry is needed for coincidental consideration of nuclear safety and risk. Over fast several years, efforts for development of safety concerned and financial asset maximizing method, process and tools have been continued internationally. Risk Informed Asset Management (RIAM) is a methodology, process, and (eventually) software tool by which analyst review historical performance and develop predictive logic models and data analyses to provide plant manager and company decision-makers critical quantitative performance indicators

  11. Essays on Market Microstructure, Behavioral Finance, and Asset Management

    Science.gov (United States)

    Jochec, Marek

    2009-01-01

    This is a study on various aspects of market microstructure, behavioral finance and asset management. In the first chapter we put the PIN variable (Probability of Information-based trading) to test. The PIN variable has been used extensively in the microstructure literature despite the fact that its construction is based on rather strong…

  12. Asset management for infrastructure systems energy and water

    CERN Document Server

    Balzer, Gerd

    2015-01-01

    The book offers a broad overview of asset management processes for different utilities, with a special emphasis on energy and water. It provides readers with important practical considerations concerning the development of new competitive structures and procedures for guaranteeing a sufficient supply of energy and water in a regulated environment, using clearly defined technical and economic cornerstones. On the one hand asset owners expect suitable interests from their investment and business growth; on the other hand regulators focus more on a reliable and cost-effective customer supply. Thi

  13. Incentive structures in institutional asset management and their implications for financial markets

    OpenAIRE

    Bank for International Settlements

    2003-01-01

    Executive summary The institutional asset management industry has become an important feature of modern financial markets, with the scale of this business's importance readily apparent from the size of assets under management by different types of institutional asset managers. With asset management involving a delegation process, shaping appropriate incentive structures is essential for aligning the incentives of owners of funds with those of the institutional managers of these funds. Further...

  14. Sustainable construction building performance simulation and asset and maintenance management

    CERN Document Server

    2016-01-01

    This book presents a collection of recent research works that highlight best practice solutions, case studies and practical advice on the implementation of sustainable construction techniques. It includes a set of new developments in the field of building performance simulation, building sustainability assessment, sustainable management, asset and maintenance management and service-life prediction. Accordingly, the book will appeal to a broad readership of professionals, scientists, students, practitioners, lecturers and other interested parties.

  15. Learning Agents for Autonomous Space Asset Management (LAASAM)

    Science.gov (United States)

    Scally, L.; Bonato, M.; Crowder, J.

    2011-09-01

    Current and future space systems will continue to grow in complexity and capabilities, creating a formidable challenge to monitor, maintain, and utilize these systems and manage their growing network of space and related ground-based assets. Integrated System Health Management (ISHM), and in particular, Condition-Based System Health Management (CBHM), is the ability to manage and maintain a system using dynamic real-time data to prioritize, optimize, maintain, and allocate resources. CBHM entails the maintenance of systems and equipment based on an assessment of current and projected conditions (situational and health related conditions). A complete, modern CBHM system comprises a number of functional capabilities: sensing and data acquisition; signal processing; conditioning and health assessment; diagnostics and prognostics; and decision reasoning. In addition, an intelligent Human System Interface (HSI) is required to provide the user/analyst with relevant context-sensitive information, the system condition, and its effect on overall situational awareness of space (and related) assets. Colorado Engineering, Inc. (CEI) and Raytheon are investigating and designing an Intelligent Information Agent Architecture that will provide a complete range of CBHM and HSI functionality from data collection through recommendations for specific actions. The research leverages CEI’s expertise with provisioning management network architectures and Raytheon’s extensive experience with learning agents to define a system to autonomously manage a complex network of current and future space-based assets to optimize their utilization.

  16. Asset management -- Integrated software optimizes production performance

    International Nuclear Information System (INIS)

    Developments in data collection and retrieval systems to allow timely cost analysis, financial reporting and production management are discussed. One of the most important new OLAP (on-line analytical processing) products is Energy Warehouse which gathers field information from various sources, allows advanced searches, and generates reports previously unavailable in other conventional financial accounting systems. Another OLAP-based system, the Canadian Upstream Energy System (CUES), was developed by the Oracle Corporation and the Calgary-based Applied Terravision Systems (ATS) Inc. CUES combines Oracle's universal data server software development tools with ATS's upstream financial, land, geotechnical and production applications. ATS also developed a product called IDPMARS (Integrated Daily Production Management Accounting Reporting System). It interfaces with CUES to link working interests, government royalties, administration, facility charges, lifting costs, transportation tooling, and customers by integrating field data collection systems with financial accounting

  17. The possible influence of risk management, forecasting, and personnel training in physical asset management

    OpenAIRE

    Schoeman, Jacobus Smit; Vlok, Pieter-Jan

    2014-01-01

    The work presented in this paper highlights the possible effects of risk management, forecasting, and personnel training in the physical asset management environment. Each section is taken separately, and an argument is formed as to why it is important and what portion of the physical asset management five-year budget each should receive. This paper considers the long-term and short-term benefits in its conclusion that risk management should receive 60 per cent of the budget, personnel traini...

  18. Reliability centered asset management tool : The development of RACalc

    OpenAIRE

    Böös, Claes; Göransson, Richard

    2009-01-01

    Electrical distribution with high delivery quality is crucial for the society. The need for high quality power supply grows as people put more trust in electrical devices. However there are no perfect electrical distribution systems and interruptions occur randomly. To reduce the risk of outage, actions can be taken by the distribution system operator in the form of preventive maintenance. This report presents some of the methods for analysis that are available for the asset manager. The meth...

  19. Issues in the Establishment of Asset Management Companies

    OpenAIRE

    Stefan N. Ingves; Steven A. Seelig; Dong He

    2004-01-01

    This paper discusses the role of asset management companies (AMCs) in facilitating bank restructuring and specifies some policy lessons learned from international experience. The paper concludes that there is no single optimal solution but a combination of strategies that will vary from bank to bank and country to country. There are, however, common factors that contribute to the success of an AMC and these include the legal environment, leadership, independence, incentives, and commercial or...

  20. Contemporary Network Theory: Concepts and Implications for Transportation Asset Management

    OpenAIRE

    Fonseca, Andrea Esperanza

    2007-01-01

    This thesis proposes a novel working paradigm for transportation infrastructure asset management by viewing the transportation networks as key components (or nodes) of a broader network of resources, which includes infrastructure linked with societyâ s ecological, social, and economic systems. An extensive review of network science literature suggested that to understand the behavior of a complex network is imperative to characterize its topology. Consequently, this thesis focused on deve...

  1. Chemical cleaning an essential part of steam generator asset management

    International Nuclear Information System (INIS)

    Chemical Cleaning an essential part of Steam Generator asset management accumulation of deposits is intrinsic for the operation of Steam Generators in PWRs. Such depositions often lead to reduction of thermal performance, loss of component integrity and, in some cases to power restrictions. Accordingly removal of such deposits is an essential part of the asset management of the Steam Generators in a Nuclear Power Plant. Every plant has its individual condition, history and constraints which need to be considered when planning and performing a chemical cleaning. Typical points are: - Sludge load amount and constitution of the deposits - Sludge distribution in the steam generator - Existing or expected corrosion problems - Amount and tendency of fouling for waste treatment Depending on this points the strategy for chemical cleaning shall be evolved. the range of treatment starts with very soft cleanings with a removal of approx 100 kg per steam generator and goes to a full scale cleaning which can remove up to several thousand kilograms of deposits from a steam generator. Depending on the goal to be achieved and the steam generator present an adequate cleaning method shall be selected. This requires flexible and 'customisable' cleaning methods that can be adapted to the individual needs of a plant. Such customizing of chemical cleaning methods is an essential factor for an optimized asset management of the steam generator in a nuclear power plant

  2. Project management assets and project management performance outcomes: Exploratory factor analysis

    OpenAIRE

    Gita Mathur; Kam Jugdev; Tak Shing Fung

    2013-01-01

    Purpose – The purpose of this paper is to examine characteristics of project management assets and project management performance outcomes as a step towards exploring the link between assets being valuable, rare, inimitable, and having organizational support and the achievement of competitive advantage. Design/methodology/approach – This paper analyzes data from responses to an online survey by 198 North American Project Management Institute® members. Exploratory factor analysis is used to id...

  3. Face Recognition for Annotation in Media Asset Management Systems

    OpenAIRE

    Gröhn, Sebastian

    2013-01-01

    The goal of this thesis was to evaluate alternatives to the Wawo face recognition (fr) library, used by the company CodeMill AB in an application for video-based fr, implemented as a plugin to the media asset management system Vidispine. The aim was to improve the fr performance of the application, and the report tried to compare the performance of recent versions of Open Source Biometrics Recognition (OpenBR) and Open Source Computer Vision (OpenCV ) to Wawo.For comparison of the fr systems,...

  4. Evaluation of the importance of the 39 subjects defined by the global forum for maintenance and asset management

    Directory of Open Access Journals (Sweden)

    Visser, Jacobus Krige

    2015-05-01

    Full Text Available The Global Forum on Maintenance and Asset Management (GFMAM was formed in 2011 to bring together various experts, practitioners, academics, and other professionals who are active in the field of asset and maintenance management. The primary mission of GFMAM is to develop and promote knowledge, standards, and education for the maintenance and asset management professions. To fulfil this mission, GFMAM developed an ‘Asset Management Landscape’ document, which defines 39 subjects on asset management, grouped into six main subject areas. This paper reports on two surveys that were conducted to determine the importance of the 39 asset management subjects. Respondents were requested to rate the importance of each of the 39 subjects on a five-point scale. Results from the survey indicated that the five most important subjects are ‘asset management strategy and objectives’, ‘asset management policy’, ‘strategic planning’, ‘asset management planning’, and ‘asset management leadership’.

  5. Positioning the Learning Asset Portfolio as a Key Component in an Organization's Enterprise Risk Management Strategy

    Science.gov (United States)

    McAliney, Peter J.

    2009-01-01

    This article presents a process for valuing a portfolio of learning assets used by line executives across industries to value traditional business assets. Embedded within the context of enterprise risk management, this strategic asset allocation process is presented step by step, providing readers the operational considerations to implement this…

  6. Evaluation of the importance of the 39 subjects defined by the global forum for maintenance and asset management

    OpenAIRE

    Visser, Jacobus Krige; Botha, Arnold

    2015-01-01

    The Global Forum on Maintenance and Asset Management (GFMAM) was formed in 2011 to bring together various experts, practitioners, academics, and other professionals who are active in the field of asset and maintenance management. The primary mission of GFMAM is to develop and promote knowledge, standards, and education for the maintenance and asset management professions. To fulfil this mission, GFMAM developed an ‘Asset Management Landscape’ document, which defines 39 subjects on asset manag...

  7. Research and design on system of asset management based on RFID

    Science.gov (United States)

    Guan, Peng; Du, HuaiChang; Jing, Hua; Zhang, MengYue; Zhang, Meng; Xu, GuiXian

    2011-10-01

    By analyzing the problems in the current assets management, this thesis proposing RFID technology will be applied to asset management in order to improve the management level of automation and information. This paper designed the equipment identification based on 433MHz RFID tag and reader which was deeply studied on the basis of RFID tag and card reader circuits, and this paper also illustrates the system of asset management. The RS232 converts Ethernet is a innovative technology to transfer data to PC monitor software, and implement system of asset management based on WEB techniques (PHP and MySQL).

  8. Asset Management Based Distributed Generation Placement from Load Growth Viewpoint

    Directory of Open Access Journals (Sweden)

    majid ghani varzaneh

    2014-10-01

    Full Text Available In this paper, by presenting the asset management model, it is tried to investigate the importance of distributed generation (DG unit placement from radial distribution system reliability indices sensitivity viewpoint and then DG placement will be carried out. Asset management model is designed and explained to maximize the benefit of distribution companies for invested capital. As the value of distribution system reliability indices depend on customers load pattern, any change in customers load pattern causes changes in distribution system reliability indices. One of the factors that changes customers load pattern, is load growth. With considering that the system hardware characteristics are being constant, the values of reliability indices are also highly dependent on load distribution. Therefore, for assessing the current studies the level of validity and the adequacy of system in future, current load distribution and load growth in future should be studied. In this paper, with optimal placement of DG, it is tried to minimize the distribution system reliability indices sensitivity in accordance with load growth in different load patterns.

  9. Prioritising maintenance improvement opportunities in physical asset management

    Directory of Open Access Journals (Sweden)

    Von Petersdorff, Hagen

    2014-11-01

    Full Text Available Physical Asset Management (PAM initiatives suffer many barriers in implementation that can hinder their influence and sustainability. One of these barriers is the lack of buy-in from all levels in the organisation, due to a lack of understanding of the perceived benefits of PAM. Organisational alignment in a PAM project is achieved by aligning employees’ views on the deficient areas in the organisation, and managing their expectations of the perceived benefits of a good application of PAM. Barriers in implementation are created, however, by the lack of a transparent method for conveying the significance of critical areas in the system and by an unclear way of communicating these problems. Typically these initiatives are constrained by available resources. In order for PAM initiatives to be successful, there first needs to be an alignment in the execution through a clear understanding of which assets are critical, so that resources can be allocated effectively. In this study, this problem is thoroughly examined, and a method is sought that seeks to isolate the effects of the maintenance function in an operation and to uncover critical areas. A study is performed on the methods that are typically used to create such understanding. This study highlights the shortcomings of these methods, which limit their applicability. A new methodology is therefore created in order to overcome these problems. The methodology is validated through a case study, where it shown to be highly beneficial in uncovering critical areas and achieving organisational alignment through the communication of results.

  10. Chemical cleaning - essential for optimal steam generator asset management

    International Nuclear Information System (INIS)

    Accumulation of deposits in Steam Generator is intrinsic during the operation of Pressurized Water Reactors. Such depositions lead to reduction of thermal performance, loss of component integrity and, in some cases, to power restrictions. Accordingly, removal of such deposits is an essential part of the asset management program of Steam Generators. Every plant has specific conditions, history and constraints which must be considered when planning and performing a chemical cleaning. Typical points are: -Constitution of the deposits or sludge - Sludge load - Sludge distribution in the steam generator - Existing or expected corrosion problems - Amount and tendency of fouling for waste treatment The strategy for chemical cleaning is developed from these points. The range of chemical cleaning treatments starts with very soft cleanings which can remove approximately 100kg per steam generator and ends with full scale, i.e., hard, cleanings which can remove several thousand kilograms of deposits from a steam generator. Dependent upon the desired goal for the operating plant and the steam generator material condition, the correct cleaning method can be selected. This requires flexible cleaning methods that can be adapted to the individual needs of a plant. Such customizing of chemical cleaning methods is a crucial factor for an optimized asset management program of steam generators in a nuclear power plant

  11. How does assets-liabilities management affects the profitability of banks?

    OpenAIRE

    Ioan TRENCA; Mihail-Ioan COCIUBA

    2014-01-01

    The economic crisis has affected the stability of the financial institutions (banks) and the instability from the banking sector affected the real economy. Some banks were affected more than others and in this paper we analyze the stability and profitability of banks from the point of the asset-liability management. Assets-liabilities management (ALM) is the management of risk at bank level, the structure of the assets and liabilities of the banks may show which are the differences between th...

  12. China's Reform of State-owned Assets Management System IS Producing Notable Results

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

    @@ The 16th Party Congress in November 2002 identified the reform of state-owned assets management system as a very important task of the deepened economic reform. It marked a new stage at which China promoted SOE (State-owned Enterprise) reform and development by deepening the state-owned assets management system reform. Over the past two years, the reform of state-owned assets management system has made important progress, the SOE reform has been deepened continuously,and the strategic adjustment to the layout and structure of state economy has made new steps forward. The reform of state-owned assets management system has started to produce notable results.

  13. A Model of Human Capital Management in the Frame of Knwoledge Assets Management

    OpenAIRE

    Neagu Olimpia

    2012-01-01

    The paper aims to suggest a model of human capital management in the frame of the knowledge assets management and correlated to the organizational performance. The paper proposes to insert the system of human capital management into the knowledge management architecture. The inputs of the human capital management (education, training on the job, job experience and continual learning) are generating specific outputs (current jobs, training needs and expertise) through acquiring, sharing, creat...

  14. Utility asset management : where you are, where you are going, knowing when you get there

    International Nuclear Information System (INIS)

    Water and wastewater systems are one of the largest infrastructure assets a city can own. Cities are faced with a deteriorating infrastructure with a decreasing budget. A plan is needed to effectively manage this deterioration. New regulations and accounting requirements (CMOM - Capacity Management Operations and Management and GASB-34) are pushing utilities into asset management planning to manage their systems. An asset management plan provides a comprehensive assessment of the current condition of the utility and a projection of the cost required to meet standards of service. The capital asset management system provides a means to protect, maintain or improve the asset value of the water or sewer system (or any infrastructure) with planned maintenance and repair. (author)

  15. The 5C model: A new approach to asset integrity management

    Energy Technology Data Exchange (ETDEWEB)

    Rahim, Yousif, E-mail: yousif.rahim@unito.i [University of Torino, Torino (Italy); Det Norske Veritas (Norway); Refsdal, Ingbjorn, E-mail: inref@statoil.co [Statoil, Bergen (Norway); Kenett, Ron S., E-mail: ron@kpa.co.i [KPA Limited, Raanana, Israel, University of Torino (Italy); NYU - Poly Center for Risk Engr, NY (United States)

    2010-02-15

    As organizations grow more complex in operation and more global in scope, assets and technical integrity become key success factors. A company's asset integrity business process needs to be mapped in order to 1) provide a proper overview of operation and business processes, 2) identify all critical interfaces and 3) ensure that all gaps and overlaps in processes are eliminated. Achieving asset integrity requires companies to sustain their activities and identify the hazards, weaknesses and objectives of their strategic assets. Technical integrity emphasizes a complete overview of technical conditions and related information, and the ability of the companies to document the technical state of its assets. It is based on an integrated view of the current state of operations, and the identification of all critical interfaces, in order to ensure that all gaps and unnecessary overlaps in processes are eliminated. Companies look increasingly at their asset integrity management system as a means to extend the life of their assets, beyond the original design conditions and production capacity. Establishing an asset integrity management system requires the documentation of the company's technical integrity management, a strategy and the processes for carrying it out, identifying gaps; selecting corrective interventions and conducting follow up actions. The paper discusses various aspects of asset integrity management, including its planning and implementation. We begin with an introduction to asset technical integrity, provide some theoretical backgrounds, present a model we call 5C and conclude with a summary and discussion.

  16. The 5C model: A new approach to asset integrity management

    International Nuclear Information System (INIS)

    As organizations grow more complex in operation and more global in scope, assets and technical integrity become key success factors. A company's asset integrity business process needs to be mapped in order to 1) provide a proper overview of operation and business processes, 2) identify all critical interfaces and 3) ensure that all gaps and overlaps in processes are eliminated. Achieving asset integrity requires companies to sustain their activities and identify the hazards, weaknesses and objectives of their strategic assets. Technical integrity emphasizes a complete overview of technical conditions and related information, and the ability of the companies to document the technical state of its assets. It is based on an integrated view of the current state of operations, and the identification of all critical interfaces, in order to ensure that all gaps and unnecessary overlaps in processes are eliminated. Companies look increasingly at their asset integrity management system as a means to extend the life of their assets, beyond the original design conditions and production capacity. Establishing an asset integrity management system requires the documentation of the company's technical integrity management, a strategy and the processes for carrying it out, identifying gaps; selecting corrective interventions and conducting follow up actions. The paper discusses various aspects of asset integrity management, including its planning and implementation. We begin with an introduction to asset technical integrity, provide some theoretical backgrounds, present a model we call 5C and conclude with a summary and discussion.

  17. GE Hitachi's parts asset management solutions (PAMS)

    International Nuclear Information System (INIS)

    To ensure operational excellence and improve plant reliability, GE Hitachi Nuclear Energy (GEH) has partnered with its customers to develop PARTS Asset Management Solutions (PAMS). PAMS is a comprehensive set of services that enable plants to proactively manage inventory, obtain after-market replacement parts quickly, and resolve obsolescence issues, ensuring operation of equipment is maintained. PAMS includes: - Electronics Exchange Service Program (EESP) - On-demand exchange service program for GE electronics parts that guarantees rapid shipment of parts, results in cost savings and eliminates all obsolescence risk. - Engineering Services (ES) - Service that finds replacement electronics parts for customers encountering obsolescence. - System Assessment Report (SAR) - Comprehensive, customised report for customer systems that provides all information needed to minimise part availability risk. - Inventory Management (IM) - Visual application based on OEM drawings and decades of industry operational experience that enables customers to proactively identify obsolescence and inventory management issues. - Material Solutions (MS) - Fixed price and lead time model that allows the customer to set-up blanket contracts or purchase orders for obtaining needed parts with a focus on reduced overall cycle time. This paper will provide an overview of PAMS and showcase a case study of the PAMS Digitized deployment for an existing GEH customer. (authors)

  18. 75 FR 1632 - Public Housing Assessment System (PHAS): Asset Management Transition Year 2 Information

    Science.gov (United States)

    2010-01-12

    ... Register notice FR-5227- N-01, Public Housing Assessment System (PHAS): Asset Management Transition Year... URBAN DEVELOPMENT Public Housing Assessment System (PHAS): Asset Management Transition Year 2..., 1998 (63 FR 46596). Prior to 1998, PHAs were evaluated by HUD under the Public Housing...

  19. What Trustees Need to Know About Investment Managers and Asset Allocation.

    Science.gov (United States)

    Morrell, Louis R.

    1986-01-01

    Two important responsibilities of a trustee investment committee are the selection of the managers and the asset allocation of the endowment fund. Benefits from outside management include the ability to select firms that specialize in a particular segment of the market and the spreading of assets to reduce risk. (Author/MLW)

  20. Managing Guest as an Asset: a Conceptual Review in the Context of Accommodation Services

    OpenAIRE

    Dwi Suhartanto

    2015-01-01

    This article discusses the concept of a customer as an asset of business in the accommodation industry. The purpose of this article is to examine the value of guests as a firm asset and to propose a model for managing guests as an asset in the context of accommodation services. A guest is considered an asset due to its role in providing revenue to the accommodation firm. Because of this role, the accommodation guest needs to be managed appropriately. This article argues that guest service eva...

  1. The role of responsible investing in reputation management - A case study of an asset management company

    OpenAIRE

    Rankila, Oskari

    2011-01-01

    AALTO SCHOOL OF ECONOMICS ABSTRACT International Business Communication Master’s Thesis April 20, 2011 Oskari Rankila The Role of Responsible Investing in Reputation Management A Case Study of an Asset Management Company Objectives of the study The objective of this study was to investigate the role of responsible investing (RI) in reputation management. The study aims to explore the perceptions of the case company’s employees and its institutional clients about commu...

  2. INFORMATION SECURITY OF THE ACCOUNTING OF ASSETS AT CERTIFICATION OF MANAGEMENT SYSTEMS

    OpenAIRE

    Miroshnichenko M. A.; Miroshnichenko A. A.; Maximova O. V.

    2015-01-01

    Process of a choice for the organization of assets at design of information security management system is presented in article. There is the way in article how to design, introduce and certify information security management system at various requirements

  3. Sovereign Wealth and Risk Management. A New Framework for Optimal Asset Allocation of Sovereign Wealth

    OpenAIRE

    Bodie, Zvi; Brière, Marie

    2013-01-01

    This paper sets out a new analytical framework for optimal asset allocation of sovereign wealth, based on the theory of contingent claim ana lysis (CCA) applied to the sovereign’s economic balance sheet. A country solves an asset-l iability management (ALM) problem between its sources of income and its expenditures. We derive analytically the optimal asset allocation of sovereign wealth, taking explic it account of all sources of risks affecting the sovereign’s balance sheet. The optima l com...

  4. The Shamans of Wall Street: A Real Conundrum in Finance. Why Systematically Poor Performing Asset Managers Survive?

    OpenAIRE

    Delgado, Fransico A.; Cueto, Diego C.

    2012-01-01

    In this paper we propose a behavioral explanation for the survival of poorly performing asset managers. We argue that, in general, asset managers make use of copious amounts of correct but useless information to convince investors about their supposed superior ability to interpret the market. Their marketing skills and motivational speeches seem to be enough to maintain asset managers in business regardless of the results. We present data that show how bad a number of asset managers can be. W...

  5. Research on Knowledge Assets Assessment Based on the Context of the Global Knowledge Management

    OpenAIRE

    Jiansheng Tang; Chenghong Li

    2010-01-01

    This article thinks that knowledge management includes knowledge learning and knowledge innovation, thevalue of knowledge in these two areas is produced, and after these two processes, have knowledge assets. In thispaper, the ideas and methods of assessment about knowledge assets are proposed in the field of knowledgemanagement, and analysis and research on these methods.

  6. Managing Gap: A Case Study Approach to Asset-Liability Management of Banks

    OpenAIRE

    Madhu Vij

    2005-01-01

    The importance of managing the asset-liability mix in the Indian financial markets has emerged from the increased volatility in the domestic interest rates as well as foreign exchange rates that has evolved after liberalization. The deregulated interest rate environment has brought pressure on the management of banks to maintain a good balance among spreads, profitability and long-term viability. Over the last few years, theire has been an intense competition and banks have been required to t...

  7. Management problems intangible assets of private enterprise on the basis of its assessment of the level of investment activity

    OpenAIRE

    Приймачук, Ирина Васильевна

    2015-01-01

    The article studies the economic substance of the category of «intangible assets». The definition of this economic category. Calculation of the value of intangible assets is based on the calculation of the current value of the investment in the creation of these assets. The necessity of allocating costs of investment character of the totality of the cost of the intangible assets. Expanded classification of areas for management intangible assets by assessing the level of investment activity an...

  8. Asset Management The State of the Art in Europe from a Life Cycle Perspective

    CERN Document Server

    Herder, Paulien; Wijnia, Ype

    2012-01-01

    In the past decades asset intensive companies have witnessed a number of regulatory changes and especially industry is facing ever increasing competitiveness. To overcome these challenges different asset management methods have been developed aimed to improve the asset life cycle. Especially the design phase and operation and maintenance phase have seen a rise in tools and methods. Smarter design can lead to improved operation. Likewise, improved operation and maintenance leads to lower replacement costs and may provide the basis for better design.   This book brings together and coherently presents the current state of the art in asset management research and practice in Europe from a life cycle perspective. Each chapter  focuses on specific parts of this life cycle and explains how the methods and techniques described are connected and how they improve the asset life cycle, thus treating this important subject from a unique perspective.

  9. Management of marketing activities of research companies on the basis of rating evaluation of intangible assets

    Directory of Open Access Journals (Sweden)

    O.V. Kudyrko

    2013-06-01

    Full Text Available The article considered the essence of management of marketing research companies on the basis of intangible assets ratings.Despite the quantitative growth of the research market remain actual such problem as the market niche definition, the formation of own customer network, the effective positioning on the market. There are no objections that it is impossible to win the competition relying only on the strengths of tangible assets using. Competitive of the research companies is determined by using not only productive assets and financial resources, but also intangible assets. Thus, there is a need of using special tools for competitiveness improving. In such circumstances, the development and increase of intangible assets as estimated part of research companies can be a tool for services of research companies promotion.The aim of the article. In the article is outlined the role of marketing activities management of the research companies based on ratings and creation of the ranking algorithm for research companies by the development of intangible assets. After having formed a clear idea about the role of intangible assets in the manufacturing process of research organizations can be identified areas of the efficiency of the company improving and development its strategy on the market that will provide future growth and competitiveness of research companies.The results of analysis. Research companies are interested in certain ratings of intangible assets indicators of their activities. Conducted rating score will serve as an indicator of the company's competitiveness on the market and determine the degree of intangible assets. Feature is the development level of intangible assets that will be estimated in terms of appropriate research companies` customer, which in turn will determine the positioning of the company in the potential consumers minds.Ratings using in the management of marketing activities of research companies will be named rating

  10. COOPERATION WITH ASSETS MANAGEMENT COMPANIES AS THE INVESTMENT ACTIVITY OF INSURANCE COMPANIES

    OpenAIRE

    Sinitsyna, T.

    2008-01-01

    The article explores the peculiarities of investment activity of local insurance companies there is analyze of one of the option using the investment opportunities of insurance companies in the way of cooperation with assets management companies.

  11. Rule-Based Analytic Asset Management for Space Exploration Systems (RAMSES) Project

    Data.gov (United States)

    National Aeronautics and Space Administration — Payload Systems Inc. (PSI) and the Massachusetts Institute of Technology (MIT) were selected to jointly develop the Rule-based Analytic Asset Management for Space...

  12. Rule-Based Analytic Asset Management for Space Exploration Systems (RAMSES) Project

    Data.gov (United States)

    National Aeronautics and Space Administration — Currently, the state-of-the-art in space asset tracking and information management is bar-coding with relational database support. To support NASA's need for...

  13. Perpetual Asset Management of Customer-Based Brand Equity-The PAM Evaluator

    Directory of Open Access Journals (Sweden)

    Pallabi Mishra and Biplab Datta

    2011-01-01

    Full Text Available Customers and brands are the two most important intangible assets of any organization. This is a study about managing brands from customers viewpoints named as perpetual asset management. A model named as PAM evaluator has been formulated to discuss the importance of the effect of the brand assets treated as antecedents like brand name, awareness, personality and consequences like brand preference and purchase intention on customer based brand equity. The brand Nokia has been taken for the research. Hypotheses have been proposed and tested by using Structural Equation M odeling (SEM.

  14. Model of managing pension assets of the defined contribution mandatory state pension system

    OpenAIRE

    Rudensky Roman A.

    2014-01-01

    Introduction of the defined contribution mandatory state pension system in Ukraine actualises the issue of efficient management of its pension assets. The goals of the article are development of theoretical and methodical provisions and development of the economic and mathematical model of management of pension assets of the defined contribution pension system on the basis of the fuzzy set approach. The necessity to refer to the theory of fuzzy sets when modelling this process is caused by, f...

  15. Wealth Management, Asset Allocation and its relevance in the Singapore context

    OpenAIRE

    Ng, Kian Soon

    2008-01-01

    This paper tackles the necessity of wealth management for individuals, looks at the current trends of wealth management in the country. It will discuss the details of the different investible asset classes in Singapore and provide recommendation on how an individual can structure his investments across different asset classes to achieve a sizeable portfolio by the time he retires with the objective to earn good returns over the long term. It starts by reviewing the recent development o...

  16. A dynamic decision model for portfolio investment and assets management

    Institute of Scientific and Technical Information of China (English)

    QIAN Edward Y.; FENG Ying; HIGGISION James

    2005-01-01

    This paper addresses a dynamic portfolio investment problem. It discusses how we can dynamically choose candidate assets, achieve the possible maximum revenue and reduce the risk to the minimum level. The paper generalizes Markowitz's portfolio selection theory and Sharpe's rule for investment decision. An analytical solution is presented to show how an institutional or individual investor can combine Markowitz's portfolio selection theory, generalized Sharpe's rule and Value-at-Risk(VaR) to find candidate assets and optimal level of position sizes for investment (dis-investment). The result shows that the generalized Markowitz's portfolio selection theory and generalized Sharpe's rule improve decision making for investment.

  17. Decision-Oriented Project Ranking for Asset Management System: Rail Net Denmark

    DEFF Research Database (Denmark)

    Salling, Kim Bang; Moshøj, Claus Rehfeld; Timm, Henrik;

    2007-01-01

    is to apply a modified project ranking methodology: Asset Management System Priority Module (AMS-PM), which is a practical tool for assessing and ranking various project proposals in a straightforward manner. The methodology is set-out by a multi-criteria approach where weights are applied ultimately......The Danish rail net operator, Rail Net Denmark, has through the past years built up an Asset Management system, containing a certain percentile of all the company’s assets. This paper contains an elaborate overview on how to strengthen the system seen from a decision-support perspective. The focus...... resulting in priority indices for the state-of-repair data. This paper is disposed as follows; firstly, a description of the Asset Management system is set-up including an overview of the state-of-repair data and the case study. Secondly, is the AMS-PM software model implemented through an exploratory case...

  18. Management and auditing of bank assets and capital / T. Bosch

    OpenAIRE

    Bosch, Thahir

    2008-01-01

    As a result of the new regulatory prescripts for banks, known as the Basel II Capital Accord, there has been a heightened interest in the auditing process. We consider this issue with a particular emphasis on the auditing of reserves, assets and capital in both a random and non-random framework. The analysis relies on the stochastic dynamic modelling of banking items such as loans, shares, bonds, cash, reserves, Treasuries, outstanding debts, bank capital and government subsidies. In this reg...

  19. Does Culture Influence Asset Managers' Views and Behavior?

    OpenAIRE

    Beckmann, Daniela; Menkhoff, Lukas; Suto, Megumi

    2008-01-01

    This research enters new ground by presenting comparative survey evidence on asset managers’ views and behavior in the United States, Germany, Japan and Thailand. Relying on Hofstede's four cultural dimensions, we find that cultural differences are most helpful in understanding country differences which cannot be explained by pure economic reasoning. In short, controlling for various determinants, the dimension of more Individualism predicts less herding behavior, more Power Distance leads to...

  20. Management of marketing activities of research companies on the basis of rating evaluation of intangible assets

    OpenAIRE

    O.V. Kudyrko

    2013-01-01

    The article considered the essence of management of marketing research companies on the basis of intangible assets ratings.Despite the quantitative growth of the research market remain actual such problem as the market niche definition, the formation of own customer network, the effective positioning on the market. There are no objections that it is impossible to win the competition relying only on the strengths of tangible assets using. Competitive of the research companies is determined by ...

  1. Knowledge Management: the way companies generate, communicate and leverage their intellectual assets.

    OpenAIRE

    Choong, Wai Hoong

    2004-01-01

    The dissertation title is “Knowledge Management: the way companies generate, communicate and leverage their intellectual assets.” The dissertation focuses on how organisations generate knowledge, in terms of information processing or via knowledge creation and innovation. The research also investigates how organisations communicate their acquired knowledge within the organizations’ individuals and groups and the ways organisation leverages their intellectual assets to obtain competitive advan...

  2. Earnings management using asset sales: Interesting issues for further study under unique institutional settings

    OpenAIRE

    Chuan-San Wang; Samuel Tung; Lin Chen-Chang; Wang Lan-Fen; Lai Ching-Hui

    2010-01-01

    Purpose – The paper aims to clarify the relationship between earnings management and the sale of long-lived assets and investments for firms listed in Taiwan. In addition, it suggests several interesting issues for further studies by proposing that positive earnings are one of the necessary conditions for the companies to issue bonds or new shares. Design/methodology/approach – The paper uses archival data and regression analysis to document empirical evidence that assets sales are one of the...

  3. The Enterprise Value Creation Management Process and Intangible Assets - the CERM/ROIAM Approach (Japanese)

    OpenAIRE

    Kariya, Takeaki

    2006-01-01

    As Robert Redfield has stated, culture is a shared common knowledge and understanding to be manifested in behavior and processed goods. Intangible assets are the fundamental source of enterprise value creation. In this paper we first aim to clarify the compound, complex and multilayered processes whereby intangible assets contribute to value creation, and then aim to formulate the framework of an effective and comprehensive management process referred to as CERM/ROIAM. This approach makes it ...

  4. Fully Distributed Monitoring Architecture Supporting Multiple Trackees and Trackers in Indoor Mobile Asset Management Application

    OpenAIRE

    Seol Young Jeong; Hyeong Gon Jo; Soon Ju Kang

    2014-01-01

    A tracking service like asset management is essential in a dynamic hospital environment consisting of numerous mobile assets (e.g., wheelchairs or infusion pumps) that are continuously relocated throughout a hospital. The tracking service is accomplished based on the key technologies of an indoor location-based service (LBS), such as locating and monitoring multiple mobile targets inside a building in real time. An indoor LBS such as a tracking service entails numerous resource lookups being ...

  5. On-Orbit Asset Management System, September 1995. Final report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-10-10

    Declining budgets have prompted the need to decrease launch cost, increase satellite lifetime, and accomplish more with each satellite. This study evaluates an OOAMS system for its ability to lengthen lifetime of on-orbit assets, decrease the number of satellites required to perform a mission, increase responsiveness, and provide increased mission capability/tactical advantage. Lifetime analysis suggest that the larger satellite systems (NASA and military communication systems, surveillance satellites and earth observing satellites) would benefit most from a nuclear bimodal OOAMS. Evaluation of satellite constellations indicate that a modest reduction in the number of satellites could be realized using OOAMS if the thermal restart capability was at least ten. An OOAMS could improve the responsiveness (launching of new assets) using on-orbit reconstitution of assets. A top level utility assessment was done to address system cost issues relating to funding profiles, first unit cost, and break-even analysis. From mission capture and orbital lifetime criteria, the recommended minimum orbital altitude is 900 km. The on-orbit thermal restart capability should be increased from five to ten. Analysis of total impulse vs propellant consumed for selected missions suggests that total impulse be increased from 40 million to 48 million Newton-seconds.

  6. Risk based bridge data collection and asset management and the role of structural health monitoring

    Science.gov (United States)

    Omenzetter, Piotr; Bush, Simon; Henning, Theunis; McCarten, Peter

    2011-04-01

    Bridges are critical to the operation and functionality of the whole road networks. It is therefore essential that specific data is collected regarding bridge asset condition and performance, as this allows proactive management of the assets and associated risks and more accurate short and long term financial planning. This paper proposes and discusses a strategy for collection of data on bridge condition and performance. Recognizing that risk management is the primary driver of asset management, the proposed strategy prioritizes bridges for levels of data collection including core, intermediate and advanced. Individual bridges are seen as parts of wider networks and bridge risk and criticality assessment emphasizes bridge failure or underperformance risk in the network context. The paper demonstrates how more reliable and detailed data can assist in managing network and bridge risks and provides a rationale for application of higher data collection levels for bridges characterized by higher risk and criticality. As the bridge risk and/or criticality increases planned and proactive integration of structural health monitoring (SHM) data into asset management is outlined. An example of bridge prioritization for data collection using several bridges taken from a national highway network is provided using an existing risk and criticality scoring methodology. The paper concludes with a discussion on the role of SHM in data collection for bridge asset management and where SHM can make the largest impacts.

  7. Intangible Assets

    OpenAIRE

    Toubal, Farid

    2009-01-01

    The integration of the world economy has underlined the need for firms to exploit their intangible assets on a global scale. Firms' intangible assets include their stock of knowledge, which is related to ideas, research and development (R&D), patent and blueprints, scientific and technical workers, and management techniques. In addition, intangible assets consist of their stock of goodwill, which is associated with product

  8. The Survey of the Conservative Relationship between the Intangible Assets and Management Performance Ratio

    Directory of Open Access Journals (Sweden)

    Roya Darabi

    2013-07-01

    Full Text Available In this study, we investigate the relationship between the management performance and conservatism according to two conservatism scales, namely the profit time- asymmetry scale and the market to book value ratio. The objective of the current study is to survey the conservative relationship between intangible assets and management performance ratios. To achieve this goal, two hypotheses are being posed. To test the study hypothesis, the data from 108 companies, accepted in the Tehran's stock exchange market between the years from 2005 to 2011, was used by taking advantage of targeted systematic sampling method. The company's management performance is related to two factors, intangible assets and conservatism and in fact intangible assets and conservatism are regarded as two independent variables in the present study which have an influence on the management performance. In the present study, the Basu model has been used to measure the conservativeness from the profit and loss perspective and the book to market value ratio has been taken advantage of as well, which is a balance sheet model. The current study methodology is functional from the objective point of view and it is correlation-descriptive from the type perspective. The results obtained are indicative of the direct and significant relationship between the intangible assets and the conservativeness in the intangible assets with management performance.

  9. IoT-based Asset Management System for Healthcare-related Industries

    Directory of Open Access Journals (Sweden)

    Lee Carman Ka Man

    2015-11-01

    Full Text Available The healthcare industry has been focusing efforts on optimizing inventory management procedures through the incorporation of Information and Communication Technology, in the form of tracking devices and data mining, to establish ideal inventory models. In this paper, a roadmap is developed towards a technological assessment of the Internet of Things (IoT in the healthcare industry, 2010–2020. According to the roadmap, an IoT-based healthcare asset management system (IoT-HAMS is proposed and developed based on Artificial Neural Network (ANN and Fuzzy Logic (FL, incorporating IoT technologies for asset management to optimize the supply of resources.

  10. New Challenges for Asset Managers in the Danish Social Housing Sector

    DEFF Research Database (Denmark)

    Haugbølle, Kim; Engberg, Lars A.

    2004-01-01

    ’ involvement. 2. New partnerships with the building industry. 3. Moving towards a European internal market of construction products. The paper explores and analyses these three challenges by drawing on a number of case studies as well as a re-analysis of current research on management of renewal and building......During the 1990s, the social housing sector in Denmark has undergone a number of changes. New trends are forcing asset managers to rethink their roles and strategies. In this changing context, asset managers have been confronted with strategic challenges on three topics: 1. New modes of tenants...

  11. New accounting rules: asset allocation and portfolio management.

    Science.gov (United States)

    Andrew, B K

    1997-01-01

    New accounting rules went into effect at the end of 1995 that are now starting to affect how medical practices must report income from equity and fixed income investments. This article explores the new accounting rules and considers the other factors that help practices determine investment strategies, including desired investment return, comfort with level of risk, appropriate time horizons, liquidity needs and legal restrictions. The author also presents an example that examines the different considerations that may affect an asset allocation decision, including endowments and operating reserve funds. PMID:10165780

  12. INFORMATION SECURITY OF THE ACCOUNTING OF ASSETS AT CERTIFICATION OF MANAGEMENT SYSTEMS

    Directory of Open Access Journals (Sweden)

    Miroshnichenko M. A.

    2015-09-01

    Full Text Available Process of a choice for the organization of assets at design of information security management system is presented in article. There is the way in article how to design, introduce and certify information security management system at various requirements

  13. Managing Guest as an Asset: a Conceptual Review in the Context of Accommodation Services

    Directory of Open Access Journals (Sweden)

    Dwi Suhartanto

    2015-10-01

    Full Text Available This article discusses the concept of a customer as an asset of business in the accommodation industry. The purpose of this article is to examine the value of guests as a firm asset and to propose a model for managing guests as an asset in the context of accommodation services. A guest is considered an asset due to its role in providing revenue to the accommodation firm. Because of this role, the accommodation guest needs to be managed appropriately. This article argues that guest service evaluation (i.e. service quality, perceived value, and guest satisfaction and service loyalty are important factors in the development of guest lifetime value. The proposed model of managing guests as an asset consists of marketing instruments, service evaluation, guest loyalty, and financial outcomes provides a comprehensive guide on how accommodation firms can manage the lifetime value of their guests. Finally, as there are limited studies examining this issue, future research should test the proposed model.

  14. Sustainable Water Infrastructure Asset Management: A Gap Analysis of Customer and Service Provider Perspectives

    Directory of Open Access Journals (Sweden)

    Sangjong Han

    2015-09-01

    Full Text Available The ultimate goal of urban water infrastructure asset management may be sustainable water supply with satisfaction for customers. In this work, we attempted to evaluate the gaps between the perspectives of customers and service providers in Korea’s water infrastructure asset management. To evaluate the customers’ perspective, a hierarchical questionnaire survey was conducted to estimate the weights of influence for six customer values and their attributes on Korean water utility management. To evaluate the service providers’ perspective, an AHP (Analytic Hierarchy Process analysis was performed to estimate the weights of influence for the customer values and their PIs (performance indicators. The gap analysis results show that customers place higher value on customer service satisfaction (emotion and information than do the service providers (managers, whereas the managers place more value on affordability than do the customers. The findings from this work imply that improving customer service is effective in satisfying the desirable water LOS (level of service for customers. Recommendations have also been provided for administrators and engineers to develop integrated decision-making systems that can reflect customer needs regarding the improvement of their water infrastructure asset management. The findings from this work may be helpful for the Korean government and water supply utilities in improving the sustainability of their water infrastructure asset management.

  15. Model of managing pension assets of the defined contribution mandatory state pension system

    Directory of Open Access Journals (Sweden)

    Rudensky Roman A.

    2014-01-01

    Full Text Available Introduction of the defined contribution mandatory state pension system in Ukraine actualises the issue of efficient management of its pension assets. The goals of the article are development of theoretical and methodical provisions and development of the economic and mathematical model of management of pension assets of the defined contribution pension system on the basis of the fuzzy set approach. The necessity to refer to the theory of fuzzy sets when modelling this process is caused by, firstly, absence of rather complete consistent “a priori” information, secondly, uncertainty of flows of insurance contributions and pension payments and, thirdly, significant influence of the instable market environment upon investment processes. The proposed fuzzy set economic and mathematical model of the task of optimal management of pension assets of the defined contribution system is a target function of minimisation of the investment risk as the risk of insufficiency of net pension assets and system of restrictions that reflect restriction of the investment activity with pension assets of the defined contribution pension system, determined by the current pension legislation.

  16. A Proactive Aging/Asset Management Model to Optimize Equipment Maintenance Resources Over Plant Lifetime

    International Nuclear Information System (INIS)

    Experience has shown that proactive aging/asset management can best be defined as an ongoing process. Station goals directly supported by such a process include reducing Unplanned Capability Loss Factor and gaining the optimum value from maintenance and aging management budgets. An effective aging/asset management process must meet evolving and sometimes conflicting requirements for efficient and reliable nuclear power plant operation. The process should identify most likely contributors before they fail, and develop cost-effective contingencies. Current trends indicate the need for focused tools that give quantitative input to decision-making. Opposing goals, such as increasing availability while optimizing aging management budgets, must be balanced. Recognizing the importance of experience in reducing the uncertainty inherent in predicting equipment degradation rates, nuclear industry demographics suggest the need to capture existing expert knowledge in a usable form. The Proactive Aging/Asset Management Process has been developed to address these needs. The proactive approach is a process supported by tools. The process identifies goals and develops criteria - including safety, costs, and power production - that are used to prioritize systems and equipment across the plant. The process then draws upon tools to most effectively meet the plant's goals. The Proactive Aging/Asset Management ModelTM is one software-enabled tool designed for mathematical optimization. Results assist a plant in developing a plant-wide plan of aging management activities. This paper describes the proactive aging/asset management process and provides an overview of the methodology that has been incorporated in a model to perform a plant-wide optimization of aging management activities. (authors)

  17. Development of Asset Fault Signatures for Prognostic and Health Management in the Nuclear Industry

    Energy Technology Data Exchange (ETDEWEB)

    Vivek Agarwal; Nancy J. Lybeck; Randall Bickford; Richard Rusaw

    2014-06-01

    Proactive online monitoring in the nuclear industry is being explored using the Electric Power Research Institute’s Fleet-Wide Prognostic and Health Management (FW-PHM) Suite software. The FW-PHM Suite is a set of web-based diagnostic and prognostic tools and databases that serves as an integrated health monitoring architecture. The FW-PHM Suite has four main modules: Diagnostic Advisor, Asset Fault Signature (AFS) Database, Remaining Useful Life Advisor, and Remaining Useful Life Database. This paper focuses on development of asset fault signatures to assess the health status of generator step-up generators and emergency diesel generators in nuclear power plants. Asset fault signatures describe the distinctive features based on technical examinations that can be used to detect a specific fault type. At the most basic level, fault signatures are comprised of an asset type, a fault type, and a set of one or more fault features (symptoms) that are indicative of the specified fault. The AFS Database is populated with asset fault signatures via a content development exercise that is based on the results of intensive technical research and on the knowledge and experience of technical experts. The developed fault signatures capture this knowledge and implement it in a standardized approach, thereby streamlining the diagnostic and prognostic process. This will support the automation of proactive online monitoring techniques in nuclear power plants to diagnose incipient faults, perform proactive maintenance, and estimate the remaining useful life of assets.

  18. Managerial Stress Management as an Asset in People Management Being a Marketing Strategy Element

    Directory of Open Access Journals (Sweden)

    Branislav Radnović

    2013-07-01

    Full Text Available Any service organization operating under turbulent market conditions must have a successful marketing strategy. A successful marketing strategy implies proper management of all elements within a marketing mix: service package, price, distribution channels, promotion, service process, service ambience and people. People, i.e. primarily the employed within an organization are one of the elements that must be appropriately considered when drawing up and implementing a marketing strategy. Proper personnel management must nowadays include good management of managerial stress. Adequate managerial stress management is preconditioned by successful identification of sources of managerial stress. The aim of this paper is to present the importance of proper and timely identification of sources of managerial stress. The paper demonstrates the carried out scientific research based on a method that is universal for all types of organizations, regardless of their type and activity, in order to precisely identify the sources of managerial stress and define its proper management, as an asset in people management, which is an element of marketing strategy. The research was conducted using a survey, sampling 100 employees in 13 organizations throughout Serbia. Survey results indicated that the most important sources of managerial stress are: participation in decision-making, selection process, earnings, and time and deadlines pressure. Therefore, recommendations are provided for directing identified sources of managerial stress towards successful management of people as an element of marketing strategy.

  19. Adding intelligence to mobile asset management in hospitals: the true value of RFID.

    Science.gov (United States)

    Castro, Linda; Lefebvre, Elisabeth; Lefebvre, Louis A

    2013-10-01

    RFID (Radio Frequency Identification) technology is expected to play a vital role in the healthcare arena, especially in times when cost containments are at the top of the priorities of healthcare management authorities. Medical equipment represents a significant share of yearly healthcare operational costs; hence, ensuring an effective and efficient management of such key assets is critical to promptly and reliably deliver a diversity of clinical services at the patient bedside. Empirical evidence from a phased-out RFID implementation in one European hospital demonstrates that RFID has the potential to transform asset management by improving inventory management, enhancing asset utilization, increasing staff productivity, improving care services, enhancing maintenance compliance, and increasing information visibility. Most importantly, RFID allows the emergence of intelligent asset management processes, which is, undoubtedly, the most important benefit that could be derived from the RFID system. Results show that the added intelligence can be rather basic (auto-status change) or a bit more advanced (personalized automatic triggers). More importantly, adding intelligence improves planning and decision-making processes. PMID:23943057

  20. Application of Q-Measure in a Real Time Fuzzy System for Managing Financial Assets

    Directory of Open Access Journals (Sweden)

    Penka Georgieva

    2012-12-01

    Full Text Available One of the major problems that a financial manager faces is the enormous amount of financial data. Thereis a variety of software systems used to support the process of investment decision making. In this paper, asoftware system for financial asset management is presented. The system is based on fuzzy logic, operatesin real time and differs from existing systems for portfolio management in five key aspects. The system istested on real data from Bulgarian Stock Exchange

  1. Decision support tools: Review of risk models in drinking water network asset management

    OpenAIRE

    Large, A; Le Gat, Y.; Elachachi, S. M.; Renaud, E.; D. Breysse

    2014-01-01

    An objective of infrastructure asset management of drinking water network is to minimize risks (service outage, or disruption of vehicular traffic...). However there are several methods to assess their frequency. This paper first discusses the different models used in predicting the structural deterioration, because it is a compulsory preliminary step to calculate risk. Risk models for service outage are then discussed.

  2. A Case Study of Implications and Applications of Standardized Nomenclature for Asset Management in Healthcare

    Science.gov (United States)

    DeFrancesco, Jennifer A.

    2016-01-01

    Healthcare organizations strive to adapt to the continuous change in what has become a fast-paced, high technology environment. Many organizations are charged to find efficiencies to better manage medical device assets. Increasingly, healthcare leaders opt to adopt a standardized medical device nomenclature under the purview of a set of national…

  3. An asset and liability management (ALM) model using integrated chance constraints

    OpenAIRE

    Hussin, SAS; Mitra, G; Roman, D.

    2014-01-01

    This paper discusses and develops a Two Stage Integrated Chance Constraints Programming for the Employees Provident Fund Malaysia. The main aim is to manage, that is, balance assets and liabilities. Integrated Chance Constraints not only limit the event of underfunding but also the amount of underfunding. This paper includes the numerical illustration.

  4. An asset and liability management (ALM) model using integrated chance constraints

    Science.gov (United States)

    Hussin, Siti Aida Sheikh; Mitra, Gautam; Roman, Diana

    2014-12-01

    This paper discusses and develops a Two Stage Integrated Chance Constraints Programming for the Employees Provident Fund Malaysia. The main aim is to manage, that is, balance assets and liabilities. Integrated Chance Constraints not only limit the event of underfunding but also the amount of underfunding. This paper includes the numerical illustration.

  5. Managing asset protection in the re-engineered environment of the nineties

    International Nuclear Information System (INIS)

    This paper discusses innovative management of equipment assets during this climate of increased competitiveness in order to reduce the costs of equipment failures, and avoid business interruptions and consequential loss of market share. The topics of the paper include proper design and specification, monitoring, maintenance, timely repair, and protecting buildings

  6. An Exploration of the Professional Competencies Required in Engineering Asset Management

    Science.gov (United States)

    Bish, Adelle J.; Newton, Cameron J.; Browning, Vicky; O'Connor, Peter; Anibaldi, Renata

    2014-01-01

    Engineering asset management (EAM) is a rapidly growing and developing field. However, efforts to select and develop engineers in this area are complicated by our lack of understanding of the full range of competencies required to perform. This exploratory study sought to clarify and categorise the professional competencies required of individuals…

  7. Asset allocation in private wealth management: theory versus practice

    OpenAIRE

    Schröder, David

    2013-01-01

    This study analyzes the responses to a representative survey of wealth advisors on private wealth management practices, and compares the advisors' views to academic research in household finance. This study demonstrates that many wealth managers do not apply novel insights proposed by financial economists when advising their clients. Many practitioners focus on managing only the market risk exposure of their clients' portfolios. Although financial research has stressed the importance of incor...

  8. Managing nursing assets: a primer on maximizing investment in people.

    Science.gov (United States)

    Flannery, T P; Grace, J L

    1999-01-01

    Nurse managers require critical competencies and skills to thrive in today's turbulent health care environment. A nurse manager's relationship with nursing staff is the primary variable that can reduce nursing turnover and improve unit morale in a variety of measurable ways. Self-confidence is the cornerstone competency required for the nurse manager's success. Nurse managers set the context for the delivery of patient services. To do so effectively, a working partnership with finance and human resources is required. Both functions can provide essential information for real time decision making, including variance analysis, flexible budgets, absenteeism rating, turnover rate, and innovative compensation programs. PMID:10711141

  9. The Shamans of Wall Street: a real conundrum in Finance: Why systematically poor performing asset managers survive?

    Directory of Open Access Journals (Sweden)

    Francisco A. Delgado

    2012-06-01

    Full Text Available In this paper we propose a behavioral explanation for the survival of poorly performing asset managers. We argue that, in general, asset managers make use of copious amounts of correct but useless information to convince investors about their supposed superior ability to interpret the market. Their marketing skills and motivational speeches seem to be enough to maintain asset managers in business regardless of the results. We present data that show how bad a number of asset managers can be. We also show how prevalent asset managers’ underperformance is. We argue that some Wall Street professionals are able to fool almost all of their clients most of the time into believing that they add value in the services they provide while the data show that this is not true. What we cannot show with this data is whether managers actually believe they are as good as they claim they are, or are not just shamans, albeit shameless as well.

  10. ASSET ALLOCATION – INSTRUMENT FOR RISK MANAGEMENT IN THE CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    Saša Stevanović

    2011-01-01

    Full Text Available This paper aims to point to one ofthe main reasons for poor performance ofindividual and institutional investors in theinvestment process. The first step that is proposedwhen investing is defining investment policy(Investment Policy Statement – IPS. Mostindividual and institutional investors in BH have noclearly defined investment policy. By respectingsimple rules that the investment process involvesthe beginner’s mistakes could have been avoided toa great extent and financial losses in investorsportfolios could have been reduced as well.Practicing concept of assets allocation, mutualfunds would preserve the value of assets undermanagement in the amount of BAM 213 million forits 417,000 shareholders. Assets allocation involvesmaking decisions about the choice betweendifferent classes of assets in the portfolio. Thisconcept explains between 80% and 90% of portfolioperformance measured by return on investment.Passivity of investment funds has led to illiquidity ofthe market, preventing the restructuring of theissuers at the Banja Luka Stock Exchange, theabsence of support for the process of incorporationand slowing down the process of creating newfinancial instruments in domestic market. Withadequate assets allocation investors manage andcontrol the portfolio risk, increase yield, introducediscipline in the investment process and become"intelligent investors."

  11. Integrated Risk-Informed Asset Management for Commercial Nuclear Power Stations

    International Nuclear Information System (INIS)

    The objective of this paper is to provide electric utilities with a concept for preparing and implementing integrated risk-informed asset management (RIAM) programs for power stations and generating companies. RIAM is a process by which analysts review historical performance and develop predictive logic models and data analyses to predict critical decision support figures-of-merit (or metrics) for generating station managers and electric utility company executives. These metrics include, but are not limited to, the following: profitability, projected revenue, projected costs, asset value, safety (catastrophic facility damage frequency and consequences, etc.), power production availability (capacity factor, etc.), efficiency (heat rate), and others. RIAM applies probabilistic safety assessment (PSA) techniques and generates predictions probabilistically so that metrics information can be supplied to managers in terms of probability distributions as well as point estimates. This enables the managers to apply the concept of 'confidence levels' in their critical decision-making processes. (authors)

  12. IoT-based Asset Management System for Healthcare-related Industries

    OpenAIRE

    Lee Carman Ka Man; Cheng Mei Na; Ng Chun Kit

    2015-01-01

    The healthcare industry has been focusing efforts on optimizing inventory management procedures through the incorporation of Information and Communication Technology, in the form of tracking devices and data mining, to establish ideal inventory models. In this paper, a roadmap is developed towards a technological assessment of the Internet of Things (IoT) in the healthcare industry, 2010–2020. According to the roadmap, an IoT-based healthcare asset management system (IoT-HAMS) is proposed and...

  13. FLUCTUATION IN PENSION FUND ASSETS PRIVATELY MANAGED UNDER THE INFLUENCE OF CERTAIN FACTORS. STATISTICAL STUDY IN ROMANIA

    OpenAIRE

    Dracea Raluca; Siminica Marian; Cristea Mirela

    2011-01-01

    On international level, the economic and financial crisis has determined a diminution of the asset value of compulsory pension funds, reflecting a reallocation of funds towards alternative or low-risk investments. The present paper indicates how the net asset value of privately managed pension funds in Romania may be affected or not by certain influence factors in direct correlation with different asset allocation strategies of pension funds. In this way, on literature review there are many s...

  14. Can we delay the replacement of this component?-an asset management approach to the question [for electric utilities

    DEFF Research Database (Denmark)

    Østergaard, Jacob; Jensen, A. Norsk

    2001-01-01

    evaluating consequences of replacing today or later, so the most cost-efficient solutions can be reached. A software system, VefoNet, has been developed in a common Nordic project. The system includes the described model as well as other asset management models. The system also includes a data collection......Asset management is emerging as a new approach on how to exploit an electric utility physical asset in the most profitable way. One of the major questions to answer by the asset management staff is when to do replacements? This is a difficult question, which require weighting of several parameters...... of totally different nature-e.g. reliability data, operating cost and condition information. This paper presents an asset management approach which answer the question "When to replace a component?" The presented model address the problem in direct economic terms, and the model is capable of...

  15. Integrating risk analysis and multi-criteria decision support under uncertainty in electricity distribution system asset management

    International Nuclear Information System (INIS)

    Asset managers in electricity distribution companies generally recognize the need and the challenge of adding structure and a higher degree of formal analysis into the increasingly complex asset management decisions. This implies improving the present asset management practice by making the best use of the available data and expert knowledge and by adopting new methods for risk analysis and decision support and nevertheless better ways to document the decisions made. This paper discusses methods for integrating risk analysis and multi-criteria decision support under uncertainty in electricity distribution system asset management. The focus is on how to include the different company objectives and risk analyses into a structured decision framework when deciding how to handle the physical assets of the electricity distribution network. This paper presents an illustrative example of decision support for maintenance and reinvestment strategies based, using expert knowledge, simplified risk analyses and multi-criteria decision analysis under uncertainty.

  16. Asset management. Combining knowledge and information for the energy sector

    International Nuclear Information System (INIS)

    In recent years information flows have diversified and information management has become increasingly important because of a change in organisation structure. Nowadays, state-of-the-art technology makes it possible to combine data and knowledge. This should result in cost minimization and revenue maximization. Gastec (Dutch centre for Gas technology) and KEMA (Research and Development, Engineering and Consultant for the Electric Power Industry) carried out a definition study into the opportunities of integrated network management in the energy sector. First calculations show that such a system may lead to cost reductions of up to 25%

  17. Infrastructure asset management: The valuation of complex objects

    NARCIS (Netherlands)

    Verlaan, J.G.; De Ridder, H.A.J.

    2010-01-01

    For two years now, Rijkswaterstaat, an agency of the Dutch Ministry of Transport, Public Works and Water Management, is required to have a financial administration, which is based on accrual accounting principles. This involves the use of a balance sheet and the equivalent of a profit and loss state

  18. Fully distributed monitoring architecture supporting multiple trackees and trackers in indoor mobile asset management application.

    Science.gov (United States)

    Jeong, Seol Young; Jo, Hyeong Gon; Kang, Soon Ju

    2014-01-01

    A tracking service like asset management is essential in a dynamic hospital environment consisting of numerous mobile assets (e.g., wheelchairs or infusion pumps) that are continuously relocated throughout a hospital. The tracking service is accomplished based on the key technologies of an indoor location-based service (LBS), such as locating and monitoring multiple mobile targets inside a building in real time. An indoor LBS such as a tracking service entails numerous resource lookups being requested concurrently and frequently from several locations, as well as a network infrastructure requiring support for high scalability in indoor environments. A traditional centralized architecture needs to maintain a geographic map of the entire building or complex in its central server, which can cause low scalability and traffic congestion. This paper presents a self-organizing and fully distributed indoor mobile asset management (MAM) platform, and proposes an architecture for multiple trackees (such as mobile assets) and trackers based on the proposed distributed platform in real time. In order to verify the suggested platform, scalability performance according to increases in the number of concurrent lookups was evaluated in a real test bed. Tracking latency and traffic load ratio in the proposed tracking architecture was also evaluated. PMID:24662407

  19. Fully Distributed Monitoring Architecture Supporting Multiple Trackees and Trackers in Indoor Mobile Asset Management Application

    Directory of Open Access Journals (Sweden)

    Seol Young Jeong

    2014-03-01

    Full Text Available A tracking service like asset management is essential in a dynamic hospital environment consisting of numerous mobile assets (e.g., wheelchairs or infusion pumps that are continuously relocated throughout a hospital. The tracking service is accomplished based on the key technologies of an indoor location-based service (LBS, such as locating and monitoring multiple mobile targets inside a building in real time. An indoor LBS such as a tracking service entails numerous resource lookups being requested concurrently and frequently from several locations, as well as a network infrastructure requiring support for high scalability in indoor environments. A traditional centralized architecture needs to maintain a geographic map of the entire building or complex in its central server, which can cause low scalability and traffic congestion. This paper presents a self-organizing and fully distributed indoor mobile asset management (MAM platform, and proposes an architecture for multiple trackees (such as mobile assets and trackers based on the proposed distributed platform in real time. In order to verify the suggested platform, scalability performance according to increases in the number of concurrent lookups was evaluated in a real test bed. Tracking latency and traffic load ratio in the proposed tracking architecture was also evaluated.

  20. Asset Allocation and Optimal Contract for Delegated Portfolio Management

    Science.gov (United States)

    Liu, Jingjun; Liang, Jianfeng

    This article studies the portfolio selection and the contracting problems between an individual investor and a professional portfolio manager in a discrete-time principal-agent framework. Portfolio selection and optimal contracts are obtained in closed form. The optimal contract was composed with the fixed fee, the cost, and the fraction of excess expected return. The optimal portfolio is similar to the classical two-fund separation theorem.

  1. Fixed income strategies for trading and for asset management

    OpenAIRE

    Tinschert, Jonas; Cremers, Heinz

    2012-01-01

    Trading and investment strategies play an essential part in better understanding fixed income markets. Over-the-counter markets and thousands of different outstanding bonds increase the difficulties to identify adequate comparison methods. Market participants and their practices differ widely depending on intentions and are often based on non-uniform decision-making figures. This working paper deals with the differing intentions of traders, treasurers and portfolio managers within fixed-incom...

  2. Human Resource Management: An Invaluable Asset or an Ineffective Burden?

    OpenAIRE

    Gow, Christopher

    2011-01-01

    In the current economic climate, making the most of the resources that one has available to them is considered key. In the past, the employees of a company have not always been considered as resources but it is clear that times are changing. The topic of Human Resource Management is one that has been discussed in great detail over the years but it is still felt that it is lacking the attention it deserves. Traditional business functions such as Sales or Finance have dominated headlines in the...

  3. DETECTING ASSET IMPAIRMENT EARNINGS MANAGEMENT ON IFRS CONTEXT: SOME EVIDENCE FROM GREEK LISTED COMPANIES

    Directory of Open Access Journals (Sweden)

    Ekaterini C. Laskaridou

    2014-01-01

    Full Text Available The purpose of this study is two fold: (a to bring on issues of asset impairment manipulation in the IFRS context (b to examine, any statistical inference validating impairment discretionary charges and firms’ earning experience. The Impairment Accounting Standard (IAS 36, enters new requirements for asset impairment provided to satisfying accrued loss amounts. Earning Management through the use of asset impairments within constrains of taking accounting process results to income manipulation representing (a an external demand to meet earnings forecasts (b internal demand for communicating board’ level performance. We expect to present a critical view of the earnings discretion and provide an answer on the prevailing content of asset impairment. The sample constituted of 236 firms, listed in the Greek Stock Exchange Market on the basis of impairment observations. We analyze the earnings levels for impairer companies, for 2004-2012 years. Findings suggest (a firms recording impairment charges possess lower earnings than do their counterparts not recording write downs and (b the impairment losses are likely reported as timely opportunity to taking “big bath” and increasing future earnings. However we estimate that Greek firms’ operating performance is engaged to earning adjustments on (a taxable environment and (b new accounting rules liable to income strategies."

  4. PUBLIC SECTOR ASSET MANAGEMENT PLANNING TO MITIGATE CLIMATE CHANGE DRIVEN NATURAL DISASTERS - A STUDY OF UK DISASTER AND BUSINESS CONTINUITY PLANNING

    OpenAIRE

    C.M.J. Warren

    2010-01-01

    This paper describes the current climate change predictions and the likely consequences for European building assets. It addresses the role of Public Sector Asset Managers with particular emphasis on UK practice. It highlights the need for asset managers to mitigate the adverse effects of climate change and prepare for extreme weather events and other associated natural disasters.The paper is based on a literature review of current climate data and best practice public sector asset management...

  5. The integration of performance measurement and asset-and-liability management / John Singleton Janse van Rensburg

    OpenAIRE

    Van Rensburg, John Singleton Janse

    2008-01-01

    The financial intermediation function that a bank performs dictates the existence of a risk-reward trade-off embedded within a bank's balance sheet. The process of risk management focuses on achieving the broader organisational objectives relating to this risk-reward trade-off. Measuring the contribution of risk to profitability is pivotal in assessing the optimality of a bank's risk-reward trade-off. Conventional accounting-based performance measures such as return on assets and return on eq...

  6. Zustandsabhängiges, risikobasiertes Asset-Management in der Energieversorgung

    OpenAIRE

    Osztermayer, Jozsef

    2007-01-01

    Für die vorliegende Arbeit versteht man unter risikobasiertem und funktionsübergreifendem Asset-Management (RB&FÜAM) die risikobewusste Verwaltung von technischen Anlagen während ihrer gesamten Lebensdauer. Die konkrete Aufgabe ist dabei, die betriebsmittelrelevanten Aktivitäten zeitlich und inhaltlich funktionsübergreifend so zu koordinieren, dass die strategischen Unternehmensziele bei minimalen Anlagenkosten erreicht werden können. In der Tat geht es um die optimale Geldmittelallokation un...

  7. Landslide hazard assessment and characterisation for forestry asset management in Great Britain

    OpenAIRE

    Foster, C.; Reeves, H. J.; Pennington, C; Hobbs, P.R.N.; Culshaw, M.G.; Plim, J.; Smith, J.T.; MacCulloch, F.; Queen, G.; Winter, M. G.

    2012-01-01

    Between 2008 and 2010, the British Geological Survey (BGS) carried out 2 separate studiesto identify and quantify landslide hazards with the potential to affect third party assets (infrastructure, property and communities) in Scottish Forestry Commission managed land (with the Transport Research Laboratory) and in Wales. A desk-based investigation analysed a range of information, including: the BGS National Land-slide Database, National Digital Geological Mapping (DiGMap50), landslide potenti...

  8. Can we delay the replacement of this component?-an asset management approach to the question [for electric utilities

    DEFF Research Database (Denmark)

    Østergaard, Jacob; Jensen, A. Norsk

    2001-01-01

    Asset management is emerging as a new approach on how to exploit an electric utility physical asset in the most profitable way. One of the major questions to answer by the asset management staff is when to do replacements? This is a difficult question, which require weighting of several parameter...... system based on Windows CE handheld computers which are presented in this paper. The calculations shown in the paper are based on this tool, and the software system is today available and used by Danish electric utilities....

  9. Portfolio Risk Management and Capital asset Pricing Model : Case: The comparison among the portfolio in the same and different regions

    OpenAIRE

    Liem Nguyen, Thanh

    2015-01-01

    The objective of this thesis is to figure out the profitability in stock investment through portfolio risk management and the practical application of Capital Asset Pricing Model (CAPM) in specific empirical study. In this paper, readers will have the overall information about different aspects of portfolio risk management, the role of diversification in investment, general knowledge about Capital Asset Pricing Model as well as its contribution in investment evaluation. Additionally, the stud...

  10. The role of enterprise asset management system in the PVO group's business

    International Nuclear Information System (INIS)

    This presentation describes the role of the Enterprise Asset Management (EAM) and Enterprise Document Management (EDM) in the PVO Group's business. The use of the functionality of the EAM (Immpower) and EDM (Documentum) is not limited only to the plant maintenance. All power plants and some other business functions and units will use the system in the future for financial management, activity based costing, purchasing, of materials, office supplies and fuel, invoice matching, project budgeting and costing, real estate management etc. The technical service concept of IT solution is also described in this presentation. The Information Management Strategy development as background to the project is also outlined together with the company information. The benefits of the common EAM system and related business process needs are also described. (orig.)

  11. The role of enterprise asset management system in the PVO group`s business

    Energy Technology Data Exchange (ETDEWEB)

    Jaervinen, J. [RAMSE Consulting Oy, Helsinki (Finland)

    1998-12-31

    This presentation describes the role of the Enterprise Asset Management (EAM) and Enterprise Document Management (EDM) in the PVO Group`s business. The use of the functionality of the EAM (Immpower) and EDM (Documentum) is not limited only to the plant maintenance. All power plants and some other business functions and units will use the system in the future for financial management, activity based costing, purchasing, of materials, office supplies and fuel, invoice matching, project budgeting and costing, real estate management etc. The technical service concept of IT solution is also described in this presentation. The Information Management Strategy development as background to the project is also outlined together with the company information. The benefits of the common EAM system and related business process needs are also described. (orig.)

  12. Fleet-Wide Prognostic and Health Management Suite: Asset Fault Signature Database

    Energy Technology Data Exchange (ETDEWEB)

    Vivek Agarwal; Nancy J. Lybeck; Randall Bickford; Richard Rusaw

    2015-06-01

    Proactive online monitoring in the nuclear industry is being explored using the Electric Power Research Institute’s Fleet-Wide Prognostic and Health Management (FW-PHM) Suite software. The FW-PHM Suite is a set of web-based diagnostic and prognostic tools and databases that serves as an integrated health monitoring architecture. The FW-PHM Suite has four main modules: (1) Diagnostic Advisor, (2) Asset Fault Signature (AFS) Database, (3) Remaining Useful Life Advisor, and (4) Remaining Useful Life Database. The paper focuses on the AFS Database of the FW-PHM Suite, which is used to catalog asset fault signatures. A fault signature is a structured representation of the information that an expert would use to first detect and then verify the occurrence of a specific type of fault. The fault signatures developed to assess the health status of generator step-up transformers are described in the paper. The developed fault signatures capture this knowledge and implement it in a standardized approach, thereby streamlining the diagnostic and prognostic process. This will support the automation of proactive online monitoring techniques in nuclear power plants to diagnose incipient faults, perform proactive maintenance, and estimate the remaining useful life of assets.

  13. Chemical Industry Corrosion Management: A Comprehensive Information System (ASSET 2). Final Report

    Energy Technology Data Exchange (ETDEWEB)

    John, Randy C. [Shell Global Solutions, Houston, TX (United States); Young, Arthur L. [Humberside Solutions, Toronto, ON (Canada); Pelton, Arthur D. [CRCT, Ecole Polytechnique de Montreal, Quebec (Canada); Thompson, William T. [Royal Military College of Canada, Kingston, ON (Canada); Wright, Ian G. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2008-10-10

    The research sponsored by this project has greatly expanded the ASSET corrosion prediction software system to produce a world-class technology to assess and predict engineering corrosion of metals and alloys corroding by exposure to hot gases. The effort included corrosion data compilation from numerous industrial sources and data generation at Shell Oak Ridge National Laboratory and several other companies for selected conditions. These data were organized into groupings representing various combinations of commercially available alloys and corrosion by various mechanisms after acceptance via a critical screening process to ensure the data were for alloys and conditions, which were adequately well defined, and of sufficient repeatability. ASSET is the largest and most capable, publicly-available technology in the field of corrosion assessment and prediction for alloys corroding by high temperature processes in chemical plants, hydrogen production, energy conversion processes, petroleum refining, power generation, fuels production and pulp/paper processes. The problems addressed by ASSET are: determination of the likely dominant corrosion mechanism based upon information available to the chemical engineers designing and/or operating various processes and prediction of engineering metal losses and lifetimes of commercial alloys used to build structural components. These assessments consider exposure conditions (metal temperatures, gas compositions and pressures), alloy compositions and exposure times. Results of the assessments are determination of the likely dominant corrosion mechanism and prediction of the loss of metal/alloy thickness as a function of time, temperature, gas composition and gas pressure. The uses of these corrosion mechanism assessments and metal loss predictions are that the degradation of processing equipment can be managed for the first time in a way which supports efforts to reduce energy consumption, ensure structural integrity of equipment

  14. A multiple decision support metrics method for effective risk-informed asset management

    International Nuclear Information System (INIS)

    The objective of this paper is to provide electric utilities with a concept for developing and applying effective decision support metrics via integrated risk-informed asset management (RIAM) programs for power stations and generating companies. RIAM is a process by which analysts review historical performance and develop predictive logic models and data analyses to predict critical decision support figures-of-merit (or metrics) for generating station managers and electric utility company executives. These metrics include, but are not limited to, the following: profitability, net benefit, benefit-to-cost ratio, projected return on investment, projected revenue, projected costs, asset value, safety (catastrophic facility damage frequency and consequences, etc.), power production availability (capacity factor, etc.), efficiency (heat rate), and others. RIAM applies probabilistic safety assessment (PSA) techniques and generates predictions in a probabilistic way so that metrics information can be supplied to managers in terms of probability distributions as well as point estimates. This enables the managers to apply the concept of 'confidence levels' in their critical decision-making processes. (authors)

  15. Practical application of decision support metrics for power plant risk-informed asset management

    International Nuclear Information System (INIS)

    The objective of this paper is to provide electric utilities with a concept for developing and applying effective decision support metrics via integrated risk-informed asset management (RIAM) programs for power stations and generating companies. RIAM is a process by which analysts review historical performance and develop predictive logic models and data analyses to predict critical decision support figures-of-merit (or metrics) for generating station managers and electric utility company executives. These metrics include, but are not limited to, the following; profitability, net benefit, benefit-to-cost ratio, projected return on investment, projected revenue, projected costs, asset value, safety (catastrophic facility damage frequency and consequences, etc.), power production availability (capacity factor, etc.), efficiency (heat rate), and others. RIAM applies probabilistic safety assessment (PSA) techniques and generates predictions probabilistically so that metrics information can be supplied to managers in terms of probability distributions as well as point estimates. This enables the managers to apply the concept of 'confidence levels' in their critical decision-making processes. (author)

  16. Mathematical and Economic Modeling of the Results of Correlation Between Indicators of Profitability and Asset Management

    Directory of Open Access Journals (Sweden)

    Silviu CÂRSTINA

    2015-09-01

    Full Text Available Activity companies, regardless of sector, aims to both keep a favorable position in the market and creating financial resources to respond favorably people interact undertaking. These considerations are actually provided by the existence and sustainability of any business activity. Through this paper we follow not only the level of profitability of businesses related to food industry sector in Dolj, Romania, but also the correlation between the indicators of profitability and management of assets. The period of analysis is given by the range of 2012 - 2013, and of data analysis in terms of economic and mathematical being done using SPSS statistical and mathematical software.

  17. i-Locate - Indoor/Outdoor location and Asset Management through Open Data

    OpenAIRE

    Claudio Eccher; Giuseppe Conti

    2015-01-01

    Studi recenti hanno evidenziato che, in media, trascorriamo circa il 90% del nostro tempo in ambienti chiusi e, spesso, non familiari. L’esigenza di localizzare/guidare persone o ogg etti in spazi sia esterni che interni (senza discontinuità tra esterno ed interno) darà origine ad una serie di nuovi servizi di tipo LBS (Location-Based Services) che potranno avere anche una notevole rilevanza economica.i-locate (Indoor / outdoor location and Asset Management Through open geodata) is a project ...

  18. Implications of ultra-low interest rates for financial institutions’ asset liability management – a policy-oriented overview

    OpenAIRE

    Christian Beer; Ernest Gnan

    2015-01-01

    In a historical perspective, interest rates are currently very low. The further course of nominal and real interest rates crucially depends on how the macroeconomy will develop over the cycle and in a long-term structural perspective. In this contribution, we analyze how ultra-low interest rates affect financial institutions and their asset-liability management. In the short term, the impact depends on the relative duration of assets and liabilities. Hence, different financial institutions ar...

  19. Key performance indicators in plant asset management: hype, burden or real help?

    International Nuclear Information System (INIS)

    The paper tackles the increasing role and use of indicators (e.g. the key performance indicators, KPIs) in asset management in power and process plants, in particular for risk and safety management (safety performance indicators, SPIs), inspection, maintenance, emerging risks analysis and aging management. The two main aspects of the use of indicators are monitoring of performance (e.g. of a single unit) and benchmarking (e.g. among different units). The basis for the considerations presented in the paper are several international projects in the field, showing that the main issue in the field is not and cannot be just the introduction of new indicators as such. They deal with the principles of establishing indicators, establishing generally accepted indicators (goal 'globally accepted' indicators), creating of 'repositories' of indicators in industry and respective tools. The repository/tool developed in the EU project iNTeg-Risk is presented in more detail. The main proposed criteria for successful introduction are the acceptance, transparency and clear added value, e.g. when the indicators help in finding solutions for the issues where the conventional analysis, e.g. the one based on engineering models and analysis is too expensive, complex or simply unavailable. Three practical cases are briefly shown in the paper: one for the improved asset management in a refinery, one for the identification of indicators helping to deal with emerging risks (how to identify them and how to assess risks of a new technology) and one for the implementation of a complex aging management program for industrial plants. (orig.)

  20. Key performance indicators in plant asset management: hype, burden or real help?

    Energy Technology Data Exchange (ETDEWEB)

    Jovanovic, A. (Steinbeis Advanced Risk Technologies, Stuttgart (Germany)); Bareiss, J.M. (EnBW, Stuttgart (Germany))

    2010-05-15

    The paper tackles the increasing role and use of indicators (e.g. the key performance indicators, KPIs) in asset management in power and process plants, in particular for risk and safety management (safety performance indicators, SPIs), inspection, maintenance, emerging risks analysis and aging management. The two main aspects of the use of indicators are monitoring of performance (e.g. of a single unit) and benchmarking (e.g. among different units). The basis for the considerations presented in the paper are several international projects in the field, showing that the main issue in the field is not and cannot be just the introduction of new indicators as such. They deal with the principles of establishing indicators, establishing generally accepted indicators (goal 'globally accepted' indicators), creating of 'repositories' of indicators in industry and respective tools. The repository/tool developed in the EU project iNTeg-Risk is presented in more detail. The main proposed criteria for successful introduction are the acceptance, transparency and clear added value, e.g. when the indicators help in finding solutions for the issues where the conventional analysis, e.g. the one based on engineering models and analysis is too expensive, complex or simply unavailable. Three practical cases are briefly shown in the paper: one for the improved asset management in a refinery, one for the identification of indicators helping to deal with emerging risks (how to identify them and how to assess risks of a new technology) and one for the implementation of a complex aging management program for industrial plants. (orig.)

  1. An evaluation of asset management compliance in the national office of the Department of Justice and Constitutional Development / Toto R.N Matshediso

    OpenAIRE

    Matshediso, Toto R N

    2013-01-01

    The study was aimed to evaluate compliance to the management of assets in the National Office of the Department of Justice and Constitutional Development in Pretoria. Since moveable asset management is still an unfamiliar concept in South African public sector, not much research ·has been done in this field. From the problem statement, it was evident that asset management is indeed a subject within the department that needs attention. Literature review on the study was conducte...

  2. What to do about Lake Buntzen 2; an asset management perspective

    International Nuclear Information System (INIS)

    Condition and performance of certain key equipment in BC Hydro's aging Lake Buntzen 2 (LB2) generating plant located within the boundaries of the Greater Vancouver municipal area were studied. The study included an examination of asset plans, base case requirements, an equipment condition review, penstock assessment, a seismic review, and an environmental review. The assessment has affected the review of potential life cycle options for the facility which included: (1) sustaining maintenance and continued operation until major equipment failure and then decommission the plant, (2) decommissioning the plant in 2003, (3) operating the plant for 20 years and then decommissioning it, (4) implementing remote start/stop capability for units 2 and 3, (5) refurbishing unit 1 and implementing remote start/stop capability on all units, (6) redeveloping the plant with a new 27 MW unit, and (7) selling the plant 'as is' in 1998. The full potential of all possible auxiliary services and benefits which could be provided by the station were considered. The viable means of upgrading the facility to extend its operating life and to maximize production were described. It was concluded that, notwithstanding formidable technical challenges, a fully integrated asset management approach to plant life extension or modernization could make the facility marginally attractive for another 20 years. 2 tabs., 4 figs

  3. FLUCTUATION IN PENSION FUND ASSETS PRIVATELY MANAGED UNDER THE INFLUENCE OF CERTAIN FACTORS. STATISTICAL STUDY IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Dracea Raluca

    2011-07-01

    Full Text Available On international level, the economic and financial crisis has determined a diminution of the asset value of compulsory pension funds, reflecting a reallocation of funds towards alternative or low-risk investments. The present paper indicates how the net asset value of privately managed pension funds in Romania may be affected or not by certain influence factors in direct correlation with different asset allocation strategies of pension funds. In this way, on literature review there are many studies which have analyzed the fluctuation of pension funds assets and a better reallocation of their investment in order to improve their efficiency. The experience of the value fluctuation of privately administered pension fund net assets is highly important, firstly beacause of its effects on the increase and the decrease of invested values for the insured persons’ accounts, under the circumstances of constantly maintaining their contributions and, implicitly, the results achieved through these investments. The research methodology consists in testing of five variables: currency exchange rate, credit interest rate, bank deposit interest rate, reference interest rate and value of the stock exchange market index (BET-C index, by means of the multiple linear regression method. The conclusion is that only two of these factors, namely, the currency exchange rate and the reference interest rate, influence net asset value of privately managed pension funds, the second pillar, one in direct and the other in indirect correlation. In order to neutralize the effects generated by the diminution of the net asset value of privately managed pension funds, considering a short time horizon, we shall elaborate a dynamic mix of their investments able to adapt to the fluctuations of the influence factors. Thus, new opportunities will be generated in order to achieve the efficiency of pension funds and to prevent the diminution of the value of insured individuals

  4. Application of a fully-integrated groundwater-surface water flow model in municipal asset management

    Science.gov (United States)

    Bowman, L. K.; Unger, A.; Jones, J. P.

    2014-12-01

    Access to affordable potable water is critical in the development and maintenance of urban centres. Given that water is a public good in Canada, all funds related to operation and maintenance of the drinking water and wastewater networks must come from consumers. An asset management system can be put in place by municipalities to more efficiently manage their water and wastewater distribution system to ensure proper use of these funds. The system works at the operational, tactical, and strategic levels, thus ensuring optimal scheduling of operation and maintenance activities, as well as prediction of future water demand scenarios. At the operational level, a fully integrated model is used to simulate the groundwater-surface water interaction of the Laurel Creek Watershed, of which 80% is urbanized by the City of Waterloo. Canadian municipalities typically lose 13% of their potable water through leaks in watermains and sanitary sewers, and sanitary sewers often generate substantial inflows from fractures in pipe walls. The City of Waterloo sanitary sewers carry an additional 10,000 cubic meters of water to wastewater treatment plants. Therefore, watermain and sanitary sewers present a significant impact on the groundwater-surface water interaction, as well as the affordability of the drinking water and wastewater networks as a whole. To determine areas of concern within the network, the integrated groundwater-surface water model also simulates flow through the City of Waterloo's watermain and sanitary sewer networks. The final model will be used to assess the interaction between measured losses of water from the City of Waterloo's watermain system, infiltration into the sanitary sewer system adjacent to the watermains, and the response of the groundwater system to deteriorated sanitary sewers or to pipes that have been recently renovated. This will ultimately contribute to the City of Waterloo's municipal asset management plan.

  5. Development of a Total Energy, Environment and Asset Management (TE2AM tm) Curriculum

    Energy Technology Data Exchange (ETDEWEB)

    O' Leary, Phillip R. [Univ. of Wisconsin, Madison, WI (United States)

    2012-12-31

    The University of Wisconsin Department of Engineering Professional Development (EPD) has completed the sponsored project entitled, Development of a Total Energy, Environment and Asset Management (TE2AM) Curriculum. The project involved the development of a structured professional development program to improve the knowledge, skills, capabilities, and competencies of engineers and operators of commercial buildings. TE2AM advances a radically different approach to commercial building design, operation, maintenance, and end of life disposition. By employing asset management principles to the lifecycle of a commercial building, owners and occupants will realize improved building performance, reduced energy consumption and positive environmental impacts. Through our commercialization plan, we intend to offer TE2AM courses and certificates to the professional community and continuously improve TE2AM course materials. The TE2AM project supports the DOE Strategic Theme 1 Energy Security; and will further advance the DOE Strategic Goal 1.4 Energy Productivity. Through participation in the TE2AM curriculum, engineers and operators of commercial buildings will be eligible for a professional certificate; denoting the completion of a prescribed series of learning activities. The project involved a comprehensive, rigorous approach to curriculum development, and accomplished the following goals: 1. Identify, analyze and prioritize key learning needs of engineers, architects and technical professionals as operators of commercial buildings. 2. Design and develop TE2AM curricula and instructional strategies to meet learning needs of the target learning community. 3. Establish partnerships with the sponsor and key stakeholders to enhance the development and delivery of learning programs. 4. Successfully commercialize and sustain the training and certificate programs for a substantial time following the term of the award. The project team was successful in achieving the goals and

  6. 75 FR 51507 - WisdomTree Asset Management, Inc., and WisdomTree Trust; Notice of Application

    Science.gov (United States)

    2010-08-20

    ... necessary standards for the reasons discussed below. 3. Applicants state that the shareholders expect the... materially amend subadvisory agreements without shareholder approval. Applicants: WisdomTree Asset Management... section 2(a)(19) of the Act (the ``Independent Trustees''), and by the initial shareholder of each Fund...

  7. The Application of the Analytic Network Process in Evaluating Assets Management of the Institution of Higher Education

    OpenAIRE

    Yong Zhao; Chunyan Shao

    2010-01-01

    The Analytic Network Process is a decision method developing on the basis of AHP. This article introduced thebasic theory of ANP and discussed its application in evaluating assets management of the institution of highereducation through establishing evaluation index system and confirming the weight of every index.

  8. The Real Time Mission Monitor: A Situational Awareness Tool For Managing Experiment Assets

    Science.gov (United States)

    Blakeslee, Richard; Hall, John; Goodman, Michael; Parker, Philip; Freudinger, Larry; He, Matt

    2007-01-01

    The NASA Real Time Mission Monitor (RTMM) is a situational awareness tool that integrates satellite, airborne and surface data sets; weather information; model and forecast outputs; and vehicle state data (e.g., aircraft navigation, satellite tracks and instrument field-of-views) for field experiment management RTMM optimizes science and logistic decision-making during field experiments by presenting timely data and graphics to the users to improve real time situational awareness of the experiment's assets. The RTMM is proven in the field as it supported program managers, scientists, and aircraft personnel during the NASA African Monsoon Multidisciplinary Analyses experiment during summer 2006 in Cape Verde, Africa. The integration and delivery of this information is made possible through data acquisition systems, network communication links and network server resources built and managed by collaborators at NASA Dryden Flight Research Center (DFRC) and Marshall Space Flight Center (MSFC). RTMM is evolving towards a more flexible and dynamic combination of sensor ingest, network computing, and decision-making activities through the use of a service oriented architecture based on community standards and protocols.

  9. i-Locate - Indoor/Outdoor location and Asset Management through Open Data

    Directory of Open Access Journals (Sweden)

    Claudio Eccher

    2015-02-01

    Full Text Available Studi recenti hanno evidenziato che, in media, trascorriamo circa il 90% del nostro tempo in ambienti chiusi e, spesso, non familiari. L’esigenza di localizzare/guidare persone o ogg etti in spazi sia esterni che interni (senza discontinuità tra esterno ed interno darà origine ad una serie di nuovi servizi di tipo LBS (Location-Based Services che potranno avere anche una notevole rilevanza economica.i-locate (Indoor / outdoor location and Asset Management Through open geodata is a project that aims to develop a set of tools and services based on geo location technologies based on open data for the location and management of objects in indoor and outdoor spaces. The tools are intended both to citizens who use their smartphones to access services, aids to navigation from the front door to internal destinations to buildings (public office, clinic, shop, etc.. Obtaining any information available to support (code , unforeseen changes in the path, suggestions, etc., and professionals for specific activities that require the location of people, equipment, etc. i-locate to an intense use of GIS technologies for navigation and tracking "indoor" (indoor GIS, 3D GIS, to locate people (eg. Alzheimer's patients and their movements in areas not suited (geofencing to identify and track objects / portable equipment for their location, management and maintenance.

  10. Advancements in Risk-Informed Performance-Based Asset Management for Commercial Nuclear Power Plants

    International Nuclear Information System (INIS)

    Over the past several years, ABSG Consulting Inc. (ABS Consulting) and the South Texas Project Nuclear Operating Company (STPNOC) have developed a decision support process and associated software for risk-informed, performance-based asset management (RIPBAM) of nuclear power plant facilities. RIPBAM applies probabilistic risk assessment (PRA) tools and techniques in the realm of plant physical and financial asset management. The RIPBAM process applies a tiered set of models and supporting performance measures (or metrics) that can ultimately be applied to support decisions affecting the allocation and management of plant resources (e.g., funding, staffing, scheduling, etc.). In general, the ultimate goal of the RIPBAM process is to continually support decision-making to maximize a facility's net present value (NPV) and long-term profitability for its owners. While the initial applications of RIPBAM have been for nuclear power stations, the methodology can easily be adapted to other types of power station or complex facility decision-making support. RIPBAM can also be designed to focus on performance metrics other than NPV and profitability (e.g., mission reliability, operational availability, probability of mission success per dollar invested, etc.). Recent advancements in the RIPBAM process focus on expanding the scope of previous RIPBAM applications to include not only operations, maintenance, and safety issues, but also broader risk perception components affecting plant owner (stockholder), operator, and regulator biases. Conceptually, RIPBAM is a comprehensive risk-informed cash flow model for decision support. It originated as a tool to help manage plant refueling outage scheduling, and was later expanded to include the full spectrum of operations and maintenance decision support. However, it differs from conventional business modeling tools in that it employs a systems engineering approach with broadly based probabilistic analysis of organizational 'value

  11. Empowering file-based radio production through media asset management systems

    Science.gov (United States)

    Muylaert, Bjorn; Beckers, Tom

    2006-10-01

    In recent years, IT-based production and archiving of media has matured to a level which enables broadcasters to switch over from tape- or CD-based to file-based workflows for the production of their radio and television programs. This technology is essential for the future of broadcasters as it provides the flexibility and speed of execution the customer demands by enabling, among others, concurrent access and production, faster than real-time ingest, edit during ingest, centrally managed annotation and quality preservation of media. In terms of automation of program production, the radio department is the most advanced within the VRT, the Flemish broadcaster. Since a couple of years ago, the radio department has been working with digital equipment and producing its programs mainly on standard IT equipment. Historically, the shift from analogue to digital based production has been a step by step process initiated and coordinated by each radio station separately, resulting in a multitude of tools and metadata collections, some of them developed in-house, lacking integration. To make matters worse, each of those stations adopted a slightly different production methodology. The planned introduction of a company-wide Media Asset Management System allows a coordinated overhaul to a unified production architecture. Benefits include the centralized ingest and annotation of audio material and the uniform, integrated (in terms of IT infrastructure) workflow model. Needless to say, the ingest strategy, metadata management and integration with radio production systems play a major role in the level of success of any improvement effort. This paper presents a data model for audio-specific concepts relevant to radio production. It includes an investigation of ingest techniques and strategies. Cooperation with external, professional production tools is demonstrated through a use-case scenario: the integration of an existing, multi-track editing tool with a commercially available

  12. Air traffic management system design using satellite based geo-positioning and communications assets

    Science.gov (United States)

    Horkin, Phil

    1995-01-01

    The current FAA and ICAO FANS vision of Air Traffic Management will transition the functions of Communications, Navigation, and Surveillance to satellite based assets in the 21st century. Fundamental to widespread acceptance of this vision is a geo-positioning system that can provide worldwide access with best case differential GPS performance, but without the associated problems. A robust communications capability linking-up aircraft and towers to meet the voice and data requirements is also essential. The current GPS constellation does not provide continuous global coverage with a sufficient number of satellites to meet the precision landing requirements as set by the world community. Periodic loss of the minimum number of satellites in view creates an integrity problem, which prevents GPS from becoming the primary system for navigation. Furthermore, there is reluctance on the part of many countries to depend on assets like GPS and GLONASS which are controlled by military communities. This paper addresses these concerns and provides a system solving the key issues associated with navigation, automatic dependent surveillance, and flexible communications. It contains an independent GPS-like navigation system with 27 satellites providing global coverage with a minimum of six in view at all times. Robust communications is provided by a network of TDMA/FDMA communications payloads contained on these satellites. This network can support simultaneous communications for up to 30,000 links, nearly enough to simultaneously support three times the current global fleet of jumbo air passenger aircraft. All of the required hardware is directly traceable to existing designs.

  13. Capital assets and intercultural borderlands: socio-cultural challenges for natural resource management.

    Science.gov (United States)

    Stratford, Elaine; Davidson, Julie

    2002-12-01

    In their design or implementation, many natural resource management (NRM) programs ignore critical socio-cultural dimensions of the challenge to advance sustainability. Building on particular ideas about culture and human ecosystems, we combine the strengths of the capital assets model of sustainability and the idea of intercultural borderlands to respond to this gap. To advance our thesis about the utility of these tools, we critically reviewed and analysed a cross-disciplinary literature relating to the socio-cultural dimensions of NRM. This paper stems from that labour and examines particular tensions that arise in land management as a result of Australians' specific colonial and postcolonial legacies. These tensions--related to ethnicity, gender, population, age and health--are among the threads in the larger tapestry that comprises the socio-cultural dimensions of NRM. For the Australian case, they are central, longstanding and persistent, and thus worthy of analysis; and they are applicable in general terms to other places with similar histories of settlement and land use. PMID:12503497

  14. Analysis of Assets Management in Colleges%高校资产管理问题透析

    Institute of Scientific and Technical Information of China (English)

    黄路瓯; 何飞

    2014-01-01

    With the gradual promotion of the strategy of"technology promotes the provincial economy"and the purpose of im-proving educational quality and cooperating teaching reform, our country pays more and more attention to assets input in colleges, and the total amount of assets in colleges tends to increase greatly year by year. Through the large assets input, assets form and construc-tion are existing diversity and complexity gradually. The original first-level management can not adapt to modern university assets management model any more, therefore, second-level assets management model comes into being. It is urgent to solve problems we are facing, that is, how to establish a mechanism conforms to the secondary assets management mode and operation, how to allocate the secondary school in the management rights and responsibilities of people, property and goods.%随着科教兴国的教育战略深化,为提高教育质量和配合教学改革,国家对高校资产投入也越来越重视,各高校的资产总量呈逐年较大幅度增长。经历了资产的大投入后,资产的形式与构成也逐渐呈现多样性和复杂性。原来一级管理已经不能适应现代高校的资产管理模式,资产的二级管理模式应运而生。如何建立符合高校二级资产管理模式和运行的机制,以及如何分配二级学院在人、财、物的管理上权利与职责,成为摆在高校面前亟需解决的问题。

  15. [ASSET experience in China

    International Nuclear Information System (INIS)

    The ASSET philosophy for prevention of nuclear safety incident is being implemented in our nuclear power plant as the other international nuclear power plants, and the in-depth analysis of operational events in order to find out and eliminate the root causes is considered as the prioritized work in the plant safety management. Some observations are discussed which were made during the implementation of ASSET philosophy and the ASSET approach in our nuclear power plant

  16. The environment, international standards, asset health management and condition monitoring: An integrated strategy

    Energy Technology Data Exchange (ETDEWEB)

    Roe, S. [CSD, British Institute of Non-Destructive Testing (BINDT) (United Kingdom); Mba, D. [School of Engineering, Cranfield University, MK43 0AL, Bedfordshire (United Kingdom)], E-mail: d.mba@cranfield.ac.uk

    2009-02-15

    Asset Health Management (AHM), supported by condition monitoring (CM) and performance measuring technologies, together with trending, modelling and diagnostic frameworks, is not only critical to the reliability of high-value machines, but also to a companies Overall Equipment Efficiency (OEE), system safety and profitability. In addition these protocols are also critical to the global concern of the environment. Industries involved with monitoring key performances indicators (KPI) to improve OEE would benefit from a standardised qualification and certification scheme for their personnel, particularly if it is based on internationally accepted procedures for the various CM technologies that also share the same objectives as AH and CM. Furthermore, the development of 'models' for implementation of a Carbon tax is intrinsically dependent on the integrity and accuracy of measurements contributing to these indicators. This paper reviews the global picture of condition monitoring, the environment and related international standards and then considers their relationship and equivalent global objectives. In addition, it presents the methods behind the development of such standards for certification of competence in personnel involved with data collection, modelling and measurements of KPIs. Two case studies are presented that highlight the integrated strategy in practise.

  17. THE ROLE OF VALUE AT RISK IN THE MANAGEMENT OF ASSET AND LIABILITIES

    Directory of Open Access Journals (Sweden)

    Petria Nicolae

    2012-12-01

    Full Text Available ALM is the management of risk at enterprise level, the models used in ALM can be static or dynamic: single period-static models, multiple period static model, single period stochastic model, multi period stochastic model. While single period-static don't incorporate the dynamic of the economical changes the multiple period-static models are an extension of the single period-static model, the most common used are multi-period stochastic which model the evolution of financial series in time and the assets and liabilities using different types of probability distributions (Student, GED. Highly correlated with ALM is the Value at Risk which can be used as and function to be minimized in ALM models. In the Value at Risk methodology the estimation models are classified as: parametric, nonparametric, semi-parametric; we present the parametric models (GARCH models used in Value at Risk and the connections that can be established between ALM models and Value at Risk. We present the Conditional Value-at-risk and offer and example on how to calculate CVaR .

  18. Soil geohazard mapping for improved asset management of UK local roads

    Science.gov (United States)

    Pritchard, O. G.; Hallett, S. H.; Farewell, T. S.

    2015-09-01

    Unclassified roads comprise 60 % of the road network in the United Kingdom (UK). The resilience of this locally important network is declining. It is considered by the Institution of Civil Engineers to be "at risk" and is ranked 26th in the world. Many factors contribute to the degradation and ultimate failure of particular road sections. However, several UK local authorities have identified that in drought conditions, road sections founded upon shrink-swell susceptible clay soils undergo significant deterioration compared with sections on non-susceptible soils. This arises from the local road network having little, if any, structural foundations. Consequently, droughts in East Anglia have resulted in millions of pounds of damage, leading authorities to seek emergency governmental funding. This paper assesses the use of soil-related geohazard assessments in providing soil-informed maintenance strategies for the asset management of the locally important road network of the UK. A case study draws upon the UK administrative county of Lincolnshire, where road assessment data have been analysed against mapped clay-subsidence risk. This reveals a statistically significant relationship between road condition and susceptible clay soils. Furthermore, incorporation of UKCP09 future climate projections within the geohazard models has highlighted roads likely to be at future risk of clay-related subsidence.

  19. Football players, asset management & the unexploited potential of enhanced player engagement in football management & marketing

    DEFF Research Database (Denmark)

    Cortsen, Kenneth

    2014-01-01

    This article gives insights into why and how football brands (e.g. clubs and governing bodies) can benefit from enhancing the activation of players in football management and football marketing initiatives.......This article gives insights into why and how football brands (e.g. clubs and governing bodies) can benefit from enhancing the activation of players in football management and football marketing initiatives....

  20. Digital asset ecosystems rethinking crowds and cloud

    CERN Document Server

    Blanke, Tobias

    2014-01-01

    Digital asset management is undergoing a fundamental transformation. Near universal availability of high-quality web-based assets makes it important to pay attention to the new world of digital ecosystems and what it means for managing, using and publishing digital assets. The Ecosystem of Digital Assets reflects on these developments and what the emerging 'web of things' could mean for digital assets. The book is structured into three parts, each covering an important aspect of digital assets. Part one introduces the emerging ecosystems of digital assets. Part two examines digital asset manag

  1. Model averaging and value-at-risk based evaluation of large multi asset volatility models for risk management

    OpenAIRE

    Pesaran, Mohammad Hashem; Zaffaroni, Paolo

    2004-01-01

    This paper considers the problem of model uncertainty in the case of multi-asset volatility models and discusses the use of model averaging techniques as a way of dealing with the risk of inadvertently using false models in portfolio management. In particular, it is shown that under certain conditions portfolio returns based on an average model will be more fat-tailed than if based on an individual underlying model with the same average volatility. Evaluation of volatility models is also cons...

  2. Risk management as an instrument for protecting assets at Nketoane Local Municipality in Free State Province / Izak Rasetapo Mofokeng

    OpenAIRE

    Mofokeng, Izak Rasetapo

    2012-01-01

    Local Governments are the closest sphere of government to the people and are the ones who render all different kinds of service to people on daily basis. The national sphere of government create the policies and legislations in regard to risk management for protection of assets and how the local government should render the service to community and most probably gives a mandate which services and responsibility rest on local sphere. The primary objective of this research is to investigate var...

  3. Managerial Stress Management as an Asset in People Management Being a Marketing Strategy Element

    OpenAIRE

    Branislav Radnović; Vladana Radnović

    2013-01-01

    Any service organization operating under turbulent market conditions must have a successful marketing strategy. A successful marketing strategy implies proper management of all elements within a marketing mix: service package, price, distribution channels, promotion, service process, service ambience and people. People, i.e. primarily the employed within an organization are one of the elements that must be appropriately considered when drawing up and implementing a marketing strategy. Proper ...

  4. RAMSI management model and evaluation criteria for Nordic offshore wind asset

    Energy Technology Data Exchange (ETDEWEB)

    Tiusanen, R.; Jaennes, J. [VTT Technical Research Centre of Finland, Espoo (Finland); Liyanage, J. P. [Univ. of Stavanger, Center for Industrial Asset Management (Norway)

    2012-07-01

    The offshore wind energy sector is in the early stages of development, but it is growing fast. Due to the European Union's renewable-energy and climate goals along with national legislation, the offshore wind sector will develop strongly over the coming years in Europe. In the offshore wind energy sector, there are many different wind-turbine designs ranging from traditional mono pile structures to floating platforms, depending on the water depth. Today, most offshore turbines are based on onshore turbine designs, and turbine technology continues to develop incrementally. At the same time, there is strong demand in the market for new, innovative designs for offshore wind turbines whose main focus is reliability and cost efficiency. For floating offshore wind turbine designs, there may be new types of uncertainty and system risks compared with onshore wind turbines. Wind turbines in cold climates, such as those experienced in the Nordic countries, may be exposed to extreme conditions, such as formation of ice or very low temperatures that are outside the design limits of standard wind turbines. In the offshore wind energy sector, specification, implementation and verification of the so-called R&M's (Reliability, Availability, Maintainability, Safety and Inspect ability) requirements during development work are important for companies delivering wind turbines, from the perspective of system integrity. Decisions made before the formal design phase strongly determine the costs and benefits gained during the whole life cycle of a wind turbine. The benefits of implementing the R&M's program include support with investment decisions, cost management, improved management of resource requirements, systematic support with development and implementation of products, and integration of dependability and safety requirements. This publication outlines a model for managing R&M's factors during the conceptual design phase of an offshore wind turbine. The model

  5. Chemical cleaning as an essential part of steam generator asset management

    International Nuclear Information System (INIS)

    Accumulation of deposits is intrinsic for the operation of Steam Generators in PWRs. Such depositions often lead to reduction of thermal performance, loss of component integrity and, in some cases to power restrictions. Accordingly removal of such deposits is an essential part of the asset management of the Steam Generators in a Nuclear Power Plant. Every plant has its individual condition, history and constraints which need to be considered when planning and performing a chemical cleaning. Typical points are: Sludge load amount and constitution of the deposits; Sludge distribution in the steam generator; Existing or expected corrosion problems; Amount and treatment possibilities for the waste generated. Depending on these points the strategy for chemical cleaning shall be evolved. The range of treatment starts with very soft cleanings with a removal of approx 100 kg per steam generator and goes to a full scale cleaning which can remove up to several thousand kilograms of deposits from a steam generator. Depending on the goal to be achieved and the steam generator present an adequate cleaning method shall be selected. Flexible and 'customizable' cleaning methods that can be adapted to the individual needs of a plant are therefore a must. Particular for the application of preventive cleanings where repeated or even regular application are intended, special focus has to be put on low corrosion and easy waste handling. Therefore AREVA has developed the 'C3' concept, Customized Chemical Cleaning concept. This concept covers the entire range of steam generator cleaning. Particular for the preventive maintenance cleanings processes with extreme low corrosion rates and easy waste handling are provided which make repeated applications safe and cost efficient. (author)

  6. Suitability of the Kaizen Model on the management of fixed assets in the South African Reserve Bank / S.M. Mavhina

    OpenAIRE

    Mavhina, Mulalo Simon

    2012-01-01

    This study involves establishing the suitability of the Kaizen Model on the management of fixed assets in the SARB. The goal is to show that the Kaizen Model could enhance the management of fixed assets in the SARB. This has been done through a literature review, empirical study and hypothesis testing. The literature review indicated that implementation of the Kaizen Model could help to eliminate none value-adding activities and ensure that standard processes are continuously adjusted. Hen...

  7. Conformance and non conformance of asset managers to the environment, social and governance pressures: sensemaking capacities and the use of externally defined information

    OpenAIRE

    Sakuma, Kyoko

    2012-01-01

    This thesis focuses on a central behavioral paradox in the asset management community. Recent decades have brought an upsurge in initiatives throughout the investment community to voluntarily integrate sustainability issues into investment decisions. The financial crisis has however revealed behavioral inconsistency and deepening irresponsibility. Today, sustainable investments represent USD 10.7 trillion, or 7% of the entire market, of assets under management and it is growing steadily. One ...

  8. Intangible Assets-According to German GAAP

    OpenAIRE

    Heng Wang

    2009-01-01

    With the growth of global markets, intangible assets have become more and more important for both investors and managers in recent years. Although the economic importance of intangible assets has long been recognised, there has been extensive debate as to the definition of intangible assets, how to measure intangible assets, and the extent to which enterprises should be required to report these assets. Intangible Assets are likely to become increasingly important with the continuing developme...

  9. Securing Digital Image Assets in Museums and Libraries: A Risk Management Approach.

    Science.gov (United States)

    Beamsley, Teresa Grose

    1999-01-01

    A number of threats to the integrity of digital image information can be identified when standard practices in museums and archives are examined. Systematic consideration of risk factors can inform the creation of procedures and application of security that works to guarantee the reliability and accuracy of digital image assets. (Author/AEF)

  10. 医院固定资产管理相关问题探讨%Discussion on Issues of Hospital Fixed Asset Management

    Institute of Scientific and Technical Information of China (English)

    梁建业

    2014-01-01

    Scientific and effective management of the hospital fixed asset can ensure the safety, value maintaining and increment of hospital assets and prevent the loss of state assets. Scientific, standardized and institutionalized hospital management of fixed assets can enhance the core competitiveness of the hospital and improve hospital modernization management level. This paper explores issues related to the hospital management of fixed assets with the aim to increase the awareness of hospital administrators to do a good job on fixed asset management.%实施科学有效的医院固定资产管理,可以确保医院资产安全和保值增值,防止国有资产流失。医院固定资产管理的科学化、规范化、制度化,能够增强医院的核心竞争力,提升医院现代化管理水平。本文就医院固定资产管理的相关问题进行探讨,旨在强化医院管理者做好固定资产管理的意识,切实做好固定资产的管理。

  11. Customer asset management in action: using customers portfolio for allocating resources across business-to-business relationships for improved shareholder value

    OpenAIRE

    Nenonen, Suvi

    2009-01-01

    Suvi Nenonen Customer asset management in action: using customer portfolios for allocating resources across business-to-business relationships for improved shareholder value Customers are crucial assets to all firms as customers are the ultimate source of all cash flows. Regardless this financial importance of customer relationships, for decades there has been a lack of suitable frameworks explaining how customer relationships contribute to the firm financial performance and how this co...

  12. Asset/liability management of German life insurance companies : a value-at-risk approch in the presence of interest rate guarantees

    OpenAIRE

    Albrecht, Peter; Weber, Carsten

    2003-01-01

    This contribution analyses the implications of two major determinants influencing the asset allocation decision of German life insurers, which are the capital market development on the one hand and the interest rate guarantees of the traditional life insurance policies on the other hand. The adverse development of the stock prices between 2000 and 2002 asks for a consideration of not only the "normal" volatility but also the worst-case developments in an asset/liability management. In order t...

  13. The AREVA customized chemical cleaning C3-concept as part of the steam generator asset management

    International Nuclear Information System (INIS)

    In pressurized water reactors corrosion products and impurities are transported into the steam generators by feed water. Corrosion products and impurities are accumulated in the SGs as deposits and scales on the tubes, the tube support structures and the tube sheet. Depending on the location, the composition and the morphology such deposits may negatively affect the performance of the steam generators by reducing the thermal performance, changing the flow patterns and producing localized corrosion promoting conditions. Accordingly removal of deposits or deposit minimization strategies are an essential part of the asset management program of the steam generators in Nuclear Power Plants. It is evident that such a program is plant specific, depending on the individual condition prevailing. Parameters to be considered are for example: - Steam generator and balance of plant design; - Secondary side water chemistry treatment; - Deposit amount and constitution; - Deposit distribution in the steam generator; - Existing or expected corrosion problems. After evaluation of the steam generator condition a strategy for deposit minimization has to be developed. Depending on the individual situation such strategies may span from curative full scale cleanings which are capable of removing the entire sludge inventory in the range of several 1000 kg per SG to preventive cleanings that remove only a portion of the deposits in the range of several 100 kg per SG. But also other goals depending on the specific plant situation, like tube sheet sludge piles or hard scale removal, may be considered. Beside the chemical cleaning process itself also the integration of the process into the outage schedule and considerations about its impact on other maintenance activities is of great importance. It is obvious that all these requirements cannot be met easily by a standardized cleaning method, thus a customisable chemical cleaning technology is required. Based on its comprehensive experience

  14. The Power of Public Investment Management : Transforming Resources into Assets for Growth

    OpenAIRE

    Rajaram, Anand; Minh Le, Tuan; Kaiser, Kai; Kim, Jay-Hyung; Frank, Jonas

    2014-01-01

    This publication consists of seven chapters: building a system for public investment management; a unified framework for public investment management; country experiences of public investment management; approaches to better project appraisal; public investment management under uncertainty; procurement and public investment management; and public investment management for public-private pa...

  15. ASSETS MANAGEMENT - A CONCEPTUAL MODEL DECOMPOSING VALUE FOR THE CUSTOMER AND A QUANTITATIVE MODEL

    Directory of Open Access Journals (Sweden)

    Susana Nicola

    2015-03-01

    Full Text Available In this paper we describe de application of a modeling framework, the so-called Conceptual Model Decomposing Value for the Customer (CMDVC, in a Footwear Industry case study, to ascertain the usefulness of this approach. The value networks were used to identify the participants, both tangible and intangible deliverables/endogenous and exogenous assets, and the analysis of their interactions as the indication for an adequate value proposition. The quantitative model of benefits and sacrifices, using the Fuzzy AHP method, enables the discussion of how the CMDVC can be applied and used in the enterprise environment and provided new relevant relations between perceived benefits (PBs.

  16. Central SOEs and State-owned Assets Management System Witness Great Reform & Development

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    @@ Since the beginning of 2005, the central SOEs (state-owned enterprises) earnestly carried out and put into effect various strategies and policies as well as work plans of the Central Committee of the Party and the State Council.They kept forging ahead and carved out in an innovative spirit, and made great achievements worth celebrating in their various work.Both sales revenue and total profits of the central SOEs have been growing rapidly and synchronously, and the quality of the stateowned assets have been further improved and appeared a good momentum.

  17. Central SOEs and State-owned Assets Management System Witness Great Reform & Development

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

      Since the beginning of 2005, the central SOEs (state-owned enterprises) earnestly carried out and put into effect various strategies and policies as well as work plans of the Central Committee of the Party and the State Council.They kept forging ahead and carved out in an innovative spirit, and made great achievements worth celebrating in their various work.Both sales revenue and total profits of the central SOEs have been growing rapidly and synchronously, and the quality of the stateowned assets have been further improved and appeared a good momentum.……

  18. Support of high operating efficiency of nuclear power plant in USA. Enterprise Asset Management solution of SAP

    International Nuclear Information System (INIS)

    A new examination system of nuclear power plants will be introduced in Japan in the fiscal year 2008. USA has introduced this system and realized the high operating efficiency. The management method and information system of USA is explained. Enterprise Asset Management (EAM) is used by 13 nuclear power plant companies and 2,800 companies in the world. Concept of EAM, comparison of performance of nuclear power plants between USA and Japan, change of business by the new examination system, Standard Nuclear Plant Model (SNPM), mapping of SNPM and SAP solution, and approach to AP-913 Equipment Reliability in SAP are described. EAM solution of SAP for nuclear power plants is the same system for other sections such as the thermal and hydroelectric power plants, oil, chemical, airline, and manufacture companies. Reliability Centered Maintenance Optimization (RCMO) is able to control information of machines and facilities and to instruct maintenance. (S.Y.)

  19. A framework for operationalization of strategic plans and metrics for corporate performance measurement in transportation asset management

    Science.gov (United States)

    Mteri, Hassan H.

    This thesis investigated the business processes required to translate corporate-level strategic plans into tactical and operational plans in the context of transportation asset management. The study also developed a framework for effective performance measure for departments of transportation. The thesis was based on a case study of transportation agencies in the U.S.A. and Canada. The scope is therefore limited or more directly applicable to transportation assets such as pavement, bridges and culverts. The goal was to address the problem of translating or managing strategic plans, especially in the context of the public sector responsible for operating transportation infrastructure. It was observed that many agencies have been successful in formulating good strategic plans but they have performed relatively poorly in translating such corporate-level strategic plans into operational activities. A questionnaire survey was designed and targeted about 30 state agencies that are currently active in transportation asset management. Twenty one (21) transportation agencies in the USA and Canada responded to the questionnaire. The analysis of the questionnaire data showed that there is a lack of a standard approach to managing corporate strategic plans in transportation agencies. The results also indicated that most transportation agencies operate in three organizational levels but there was no systematic approach of translating goal and objectives from high level to lower levels. Approaches in performance measurement were found to vary from agency to agency. A number of limitations were identified in the existing practice on performance measurements. Key weaknesses include the large number of measures in use (as many as 25 or more), and the disconnection between the measures used and the corporate goals and objectives. Lessons from the private sector were thoroughly reviewed in order to build the groundwork for adapting existing tools to the public sector. The existing

  20. Investments Portfolio Optimal Planning for industrial assets management: Method and Tool

    International Nuclear Information System (INIS)

    The purpose of this paper is to describe the method and tool dedicated to optimize investments planning for industrial assets. These investments may either be preventive maintenance tasks, asset enhancement or logistic investment such as spare parts purchase. The three methodological points to investigate in such an issue are: 1. The measure of the profitability of a portfolio of investments 2. The selection and planning of an optimal set of investments 3. The measure of the risk of a portfolio of investments The measure of the profitability of a set of investments in the IPOP (registered) tool is synthesised in the Net Present Value indicator. The NPV is the sum of the differences of discounted cash flows (direct costs, forced outages...) between the situations with and without a given investment. These cash flows are calculated through a pseudo-markov reliability model representing independently the components of the industrial asset and the spare parts inventories. The component model has been widely discussed over the years but the spare part model is a new one based on some approximations that will be discussed. This model, referred as the NPV function, takes for input an investments portfolio and gives its NPV. The second issue is to optimize the NPV. If all investments were independent, this optimization would be an easy calculation, unfortunately there are two sources of dependency. The first one is introduced by the spare part model, as if components are indeed independent in their reliability model, the fact that several components use the same inventory induces a dependency. The second dependency comes from economic, technical or logistic constraints, such as a global maintenance budget limit or a precedence constraint between two investments, making the aggregation of individual optimum not necessary feasible. The algorithm used to solve such a difficult optimization problem is a genetic algorithm. After a description of the features of the software a

  1. Asset management and the calculation of capital costs for mains-usage fees

    International Nuclear Information System (INIS)

    This article discusses the requirements stipulated in the Swiss Electricity Supply Law that capital costs for all mains-levels must be declared on a yearly basis. The costs are calculated from current market value and depreciation according to technical lifetime. The authors examine the requirements placed on the declaration of capital costs and how they are calculated. The detailed book-keeping needed is discussed as is the large volume of data involved. The role of existing mains information systems is looked at, as are methods of assessing current assets. Experience gained in practice is discussed: This is taken as the basis for future processes. Utilities participating in the project and a number of solutions available are noted

  2. ASSET guidelines

    International Nuclear Information System (INIS)

    The IAEA Assessment of Safety Significant Events Team (ASSET) Service provides advice and assistance to Member States to enhance the overall level of plant safety while dealing with the policy of prevention of incidents at nuclear power plants. The ASSET programme, initiated in 1986, is not restricted to any particular group of Member States, whether developing or industrialized, but is available to all countries with nuclear power plants in operation or approaching commercial operation. The IAEA Safety Series publications form common basis for the ASSET reviews, including the Nuclear Safety Standards (NUSS) and the Basic Safety Principles (Recommendations of Safety Series No. 75-INSAG-3). The ASSET Guidelines provide overall guidance for the experts to ensure the consistency and comprehensiveness of their review of incident investigations. Additional guidance and reference material is provided by the IAEA to complement the expertise of the ASSET members. ASSET reviews accept different approaches that contribute to ensuring an effective prevention of incidents at plants. Suggestions are offered to enhance plant safety performance. Commendable good practices are identified and generic lessons are communicated to other plants, where relevant, for long term improvement

  3. 媒体资产管理下的电视内容资产价值分析%Asset Value Analysis of TV Content under Media Asset Management

    Institute of Scientific and Technical Information of China (English)

    王正; 王娟

    2015-01-01

    When most TV stations at hom e have constructed media asset management system, there is a question on how to make the most of the system to function it and realize the value. The goal of the management is to maximum the value of content asset in order that the owner of the asset could gain more benefits both socially and economically. The article, based on the summary of the value form from review, analysis and control of TV content asset, puts forward the strategies of development and added value.%当国内大部分电视台都建立起媒体资产管理系统的时候,必然会出现一个问题,那就是该怎么利用媒体资产管理系统,使其发挥作用,实现其建立的价值。媒体资产管理的目标是实现内容资产价值的最大化,从而使资产的拥有者获得更多的社会和经济利益。本文将对电视内容资产的概述、分析和把握,总结出电视内容资产的价值形式,根据这些价值形式提出开发和增值策略。

  4. After-sales service of engineering industrial assets a reference framework for warranty management

    CERN Document Server

    González-Prida Díaz, Vicente

    2014-01-01

    This book explores the practical implementation of an advanced after-sales management framework devoted to warranty management. The framework is intended for companies producing either standardized or customized products, and such a management tool will facilitate organizational improvement and support innovative decision making processes for technical assistance in after-sales services.  “After–sales Service of Engineering Industrial Assets” comprises a proposal for a warranty management framework, with an account of the different methods that can be used to improve decision making in the different stages of the after-sales service management process, and strategies for strengthening the structure and foundations of the framework. A review of the fundamental issues and current research topics in warranty management and after sales services is also provided, which is exemplified by a case study. This book is intended for postgraduates, researchers and engineers who are interested in aftersales manageme...

  5. The Discipline of Asset Allocation.

    Science.gov (United States)

    Petzel, Todd E.

    2000-01-01

    Discussion of asset allocation for college/university endowment funds focuses on three levels of risk: (1) the absolute risk of the portfolio (usually leading to asset diversification); (2) the benchmark risk (usually comparison with peer institutions; and (3) personal career risk (which may incline managers toward maximizing short-term returns,…

  6. An asset-based approach to social risk management : a conceptual framework

    OpenAIRE

    Siegel, Paul B; Alwang, Jeffrey

    1999-01-01

    There is increasing concern about the vulnerability of poor and near-poor rural households, who have limited capabilities to manage risk and often resort to strategies that can lead to a vicious cycle of poverty. Household-related risk is ususally considered individual or private, but measures to manage risk are actually social or public in nature. Furthermore, various externality issues are associated with household-related risk, such as its links to economic development, poverty reduction, ...

  7. Asset Meltdown

    DEFF Research Database (Denmark)

    Marekwica, Marcel; Maurer, Raimond; Sebastian, Steffen P.

    2011-01-01

    Executive Summary. This paper analyzes the relation between demographic structure and real asset returns on Treasury bills, bonds, and stocks for the G7 countries (United States, Canada, Japan, Italy, France, the United Kingdom, and Germany). A macroeconomic multifactor model is used to examine a...

  8. Long Term Asset Management Strategy for Refurbishment and Replacement of Nuclear Power Plants in Korea

    International Nuclear Information System (INIS)

    LTAM strategy was developed for the component level to efficiently manage aging and obsolescence. Systematic monitoring and proactive measures against aging mechanism will reduce unplanned loss due to failure of large components. Also, financial risk for lost power production will be minimized on the basis of fleet-wide LTAM strategies. (author)

  9. Value of monitoring in asset management: A social costbenefit analysis approach

    NARCIS (Netherlands)

    Zouch, M.; Courage, W.; Nápoles, O.M.

    2013-01-01

    We present a framework to investigate new monitoring techniques for infrastructures and assess their potential value for the network management. This framework is based on a social cost benefit analysis tool that aims to (i) assist decision makers in selecting and developing cost-effective new monit

  10. Chemical cleaning as an essential part of steam generator asset management

    International Nuclear Information System (INIS)

    This paper presents the mechanisms of steam generator fouling, various methodologies for mitigation and the AREVA C3 (Customised Chemical Cleaning) Concept as a solution to this problem in operating power plants. It also covers the principle of preventative versus curative chemical cleaning and innovative waste treatments options to manage the chemical cleaning liquid waste. Finally it presents the AREVA field experience covering these aspects. (author)

  11. Importance of managing intangible assets in enhancing dynamic capabilities of firms : cases from Sweden and Germany

    OpenAIRE

    Schiller, Stefan; Perera, Hector

    2012-01-01

    The purpose of this article is to provide insights into our understanding of integrated learning incorporating interactive control systems and diagnostic control systems, through a new integrative learning framework related to management control systems (MCSs). The proposed framework can be used to analyze systematically the knowledge-creating ability of a firm. The study adopts a learning perspective under qualitative research methodology. Data were collected through interviews and analyzed ...

  12. THE ROLE OF VALUE AT RISK IN THE MANAGEMENT OF ASSET AND LIABILITIES

    OpenAIRE

    Petria Nicolae; Cociuba Mihai; Zapodeanu Daniela

    2012-01-01

    ALM is the management of risk at enterprise level, the models used in ALM can be static or dynamic: single period-static models, multiple period static model, single period stochastic model, multi period stochastic model. While single period-static don't incorporate the dynamic of the economical changes the multiple period-static models are an extension of the single period-static model, the most common used are multi-period stochastic which model the evolution of financial series in time and...

  13. Making Enterprise Information Management (EIM) Work for Business A Guide to Understanding Information as an Asset

    CERN Document Server

    Ladley, John

    2010-01-01

    Organizations of all types struggle with information. Millions of dollars are spent on ERP applications to integrate data and yet this data still isn't accessible or relevant. Emails contain hidden liabilities. Safety manuals endanger workers. Worse, there is data and information being created and handled in every nook and cranny of large organizations, well out of view of formal oversight, but within view of customers and regulators. Thus far, any efforts to wrestle the "data-beast" to the ground have failed, and there exists a profound need for all levels of business management, not just IT,

  14. Liability valuation and optimal asset allocation

    OpenAIRE

    Inkmann, Joachim; Blake, David

    2004-01-01

    Current approaches to asset-liability management employ a sequence of distinct procedures to value liabilities and determine the asset allocation. First, a discount rate that is usually dic-tated by accounting standards is used to value liabilities. Second, the asset allocation is determined by maximizing some objective function in the surplus of assets over liabilities, taken as given the valuation of liabilities. We introduce a model that allows for the joint valuation of liabilities and th...

  15. Marketing intellectual assets: some approaches to estimation

    OpenAIRE

    Burlitska, Oksana Petrivna; Pinyak, Iryna Lyubomyrivna

    2012-01-01

    Main approaches to intellectual assets estimation in the context of the currentconception concerning the company cost management are systematized in the article. The attemptto introduce and classify the expenses dealing with marketing intellectual assets development ismade. The essential calculation procedures within comparative and profitable approaches in theintellectual assets estimation are found out. Our vision of the choice priority concerning theapproaches to certain marketing assets e...

  16. Contribution of Enterprise Asset Management (EAM) systems and CAP programs to support NPP life extension program

    International Nuclear Information System (INIS)

    There is no specific IS (Information System) which supports the entire scope of a plant life extension, but there are a number of existing solutions that contributes to support it. Globally there are 2 categories of IS solution in the market: those supporting the Plant Life Improvement (PLIM) side of the life extension program and the others supporting the Plant Life Extension (PLEX) process side of it. The first category involves a large number of applications that span from ageing evaluation criteria programs, to monitoring solution for the critical components and to analysis and decision tools. The second category comprises solutions which support partially or globally the overall business process under a regulatory controlled manner. Both categories require 3 conditions to be satisfied: -) a comprehensive set of data (these data are often produced by various applications and the ability to correlate all the data together with a high degree of integrity is an important success factor); -) a feedback mechanism whose dual aspect is the monitoring of the ageing phenomena and the management of all the actions to be coordinated to ensure that preset objectives will be achieved in due time; and -) good people management to ensure particularly that staff will be well acquainted with new equipment or with new operating processes

  17. Could weapon-grade plutonium be an asset for managing Pu inventories?

    International Nuclear Information System (INIS)

    Due to the temporary shortage of MOX fuel fabrication facilities, the stockpile of separated civilian grade Pu (CPu) is predicted to increase up to the turn of the century. An additional quantity of weapon grade Pu (WPu) will be progressively isolated at the same period. Both CPu and WPu surpluses require disposition as soon as feasible. Although non-proliferation concerns, established national policies, public acceptance problems and other considerations largely complicate the aspect of the use of WPu, it is worth examining the advantages which could result from a synergetic management of: LWR grade Pu to which AGR grade Pu might be associated; WPu; GCR grade Pu which should be considered as a Pu variety situated between the two first ones as far as their physical and neutronic characteristics are concerned. Two scenarios of integrated managements of the CPu varieties and WPu are being considered. They indicate several technical and economical advantages but also important problems to be resolved, mainly from the non-proliferation point of view. In that respect, it is concluded that, although no reasonable perspective exists to resolve these problems easily (or at all), the advantages justify an effort of the international community to consider how it could be implemented. (author). 24 refs, 2 figs, 5 tabs

  18. Risk based knowledge assessments: towards a toolbox for managing key knowledge assets

    International Nuclear Information System (INIS)

    Full text: It is now well acknowledged that considerable Knowledge Management (KM) issues are faced by national and international nuclear communities. Much of these problems relate to issues of an ageing workforce and the significantly reduced influx of new generation of nuclear engineers and scientists. The management discipline of KM contains a broad spectrum of methods and techniques. However, the effective implementation of a KM strategy requires the selection and deployment of appropriate and targeted approaches that are pertinent to the particular issues of the technical or business area within an organisation. A clear strategy is contingent upon an assessment of what are the knowledge areas and what are the key (knowledge) risk areas. In particular the following issues have to be addressed: 'what knowledge exists?', 'what is the nature and format of that knowledge?' and 'what knowledge is key to our continued, safe, and effective operation?'. Answers to such questions will enable an organisation to prioritise KM effort and employ subsequent KM approaches that are appropriate. Subsequent approaches ranging from the utilisation of information technologies, such as databases; knowledge retention methods; and the setting up of Community of Practices to share knowledge and experience. This paper considers a risk assessment based approach to KM. In so doing the paper extends work previously reported on an approach to conducting knowledge audits by considering the integration of that approach with approaches to (knowledge) risk assessment. The paper also provides a brief review of the various KM approaches that can act to reduce the level of risk faced by an organisation. The paper concludes by reflecting upon the role, value of deploying such a risk based approach. (author)

  19. A flexible methodology to integrate energy issue in strategic asset management in social housing: the ECOSIM French experience

    Energy Technology Data Exchange (ETDEWEB)

    Lacarriere, Bruno; Bourges, Bernard (Ecole des Mines de Nantes, Nantes (France)); Jallet, Paul (Le Toit Angevin, Angers (France))

    2009-07-01

    In order to improve the efforts to reduce energy use in the Social Housing sector, the IEE-ESAM project (completed in December 2008) aimed to develop adequate tools to integrate the issue of energy in strategic asset management (SAM) processes. The present work details a methodology built with the aim of a sufficient flexibility to be adaptable of the different Social Housing Operators (SHO) situations. The paper illustrates this methodology by a successful experience of development. The objective was to develop a tool satisfying the practical expectations of the Social Housing Operators. Examples of the difficulties that had to be overcome include difficulties in knowing in detail some technical properties of the housing stock (thermal properties, glazing properties, history of refurbishment) and lack of internal skills in thermal modelling to evaluate the different possible actions. The final tool developed can be used for one particular building, a set of buildings or at the whole stock scale. The tool does not use an integrated thermal calculation core but external databases and/or feedback based on experience. It offers a description of the energy performance level of the stock, points out the worst-performing elements, evaluates solutions to improve the energy performance (for building envelopes and equipments) and quantifies the gains (energy and carbon saved, financial) and the costs (investment) of these solutions. The tool assists the SHO in taking decisions (regarding priorities for investment) which include energy efficiency parameters in addition to classical SAM parameters. The success of the approach has been demonstrated by the SHO that manages the stock used as a field test for this project. They are currently using the tool developed from the methodology to plan stock investment actions.

  20. Asset prices and priceless assets

    OpenAIRE

    Penasse, J.N.G.

    2014-01-01

    The doctoral thesis studies several aspects of asset returns dynamics. The first three chapters focus on returns in the fine art market. The first chapter provides evidence for the existence of a slow-moving fad component in art prices that induces short-term return predictability. The article has been published in Economics Letters (Volume 122, Issue 3, pp. 432-434), and was written together with Christophe Spaenjers and Luc Renneboog. Chapter 2 investigates how fast is information incorpora...

  1. Physical dose reconstruction in case of radiological accidents: an asset for the victims' management

    International Nuclear Information System (INIS)

    In most cases of radiological accidents caused by an external source, the irradiation is heterogeneous, even for a whole body irradiation. Therefore, more than a whole body dose, estimating the dose distribution in the victim's organism is essential to assess biological damages. This dose distribution can be obtained by physical dosimetric reconstruction methods. The laboratory has developed several techniques based on experimental and numerical dose reconstruction and retrospective dosimetry by ESR in order to assess as accurately as possible and as quickly as possible the dose received and especially its distribution throughout the organism so that the physicians may fine tune their diagnosis and prescribe the most suitable treatment. These last years, these techniques were applied several times and each time the results obtained proved to be essential for the physicians in charge of the victims in order to define the therapeutic strategy. This article proposes a review of the physical dose reconstructions performed in the laboratory for recent radiological accidents focusing on the complementarity of the methods and the gain for the victims' management. (author)

  2. Pengaruh Good Corporate Governance, Total Asset Turnover, dan Earnings management Terhadap Nilai Perusahaan pada Perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia

    OpenAIRE

    Ginting, Lias Karina

    2013-01-01

    The purpose of this study was to empirically test the simultaneous and partial influence of Good Corporate Government, Total Assets Turnover and Earnings Management on the value of company. The components of Good Corporate Government itself are Managerial Ownership, Institutional Ownership, Audit Committee, Board of Commissioner Composition, Audit Quality and the Number of Board of Commissioners. After the factor test was done, the variables used to represent Good Corporate Government were Ma...

  3. Generation of SEEAW asset accounts based on water resources management models

    Science.gov (United States)

    Pedro-Monzonís, María; Solera, Abel; Andreu, Joaquín

    2015-04-01

    One of the main challenges in the XXI century is related with the sustainable use of water. This is due to the fact that water is an essential element for the life of all who inhabit our planet. In many cases, the lack of economic valuation of water resources causes an inefficient water use. In this regard, society expects of policymakers and stakeholders maximise the profit produced per unit of natural resources. Water planning and the Integrated Water Resources Management (IWRM) represent the best way to achieve this goal. The System of Environmental-Economic Accounting for Water (SEEAW) is displayed as a tool for water allocation which enables the building of water balances in a river basin. The main concern of the SEEAW is to provide a standard approach which allows the policymakers to compare results between different territories. But building water accounts is a complex task due to the difficulty of the collection of the required data. Due to the difficulty of gauging the components of the hydrological cycle, the use of simulation models has become an essential tool extensively employed in last decades. The target of this paper is to present the building up of a database that enables the combined use of hydrological models and water resources models developed with AQUATOOL DSSS to fill in the SEEAW tables. This research is framed within the Water Accounting in a Multi-Catchment District (WAMCD) project, financed by the European Union. Its main goal is the development of water accounts in the Mediterranean Andalusian River Basin District, in Spain. This research pretends to contribute to the objectives of the "Blueprint to safeguard Europe's water resources". It is noteworthy that, in Spain, a large part of these methodological decisions are included in the Spanish Guideline of Water Planning with normative status guaranteeing consistency and comparability of the results.

  4. Asset and Liabilities Management. The Institutional Approach to ALM by Commercial Banks in Poland: a Special Focus on Risk Management

    OpenAIRE

    Katarzyna Zawalinska

    1999-01-01

    According to the early evidence, privatization and consolidation of banks have a strong favorable impact on the advancement of ALM and risk management methods. This paper examines various approaches to ALM by commercial banks in Poland. It elaborates results of the empirical survey of ALM and risk management techniques applied by banks in Poland. The survey was conducted in Spring 1999. The analysis shows that privatization of banks contributes to the improvement of efficiency and to better r...

  5. Organizations must match assets

    International Nuclear Information System (INIS)

    The unprofitable state of the Canadian oil industry, the adverse economic environment, the difficulty of finding capital, and the diminishing resources of conventional lighter crude oil make it necessary for Canadian oil companies to match their organizations and their financing to their assets. This is illustrated according to the experience of Saskoil, a Saskatchewan oil and gas company. An increasing production of oil and natural gas, and an increasing amount of new oil production as heavy oil, led to organizational changes such as the purchase of an asphalt plant to provide the company with downstream experience, establishing a working group to explore and develop heavy oil resources, and forming a company to manage non-core assets. The latter company, Pasqua Resources, manages assets such as small properties and ownership interests in order to increase the operating efficiency of Saskoil. Pasqua provides Saskoil with a corporate and organizational vehicle to accommodate partnerships and joint venture capital invested in property purchase opportunities, and to manage any of Saskoil's divestiture activities

  6. Marketing intellectual assets: some approaches to estimation

    Directory of Open Access Journals (Sweden)

    Burlitska, Oksana Petrivna

    2012-11-01

    Full Text Available Main approaches to intellectual assets estimation in the context of the currentconception concerning the company cost management are systematized in the article. The attemptto introduce and classify the expenses dealing with marketing intellectual assets development ismade. The essential calculation procedures within comparative and profitable approaches in theintellectual assets estimation are found out. Our vision of the choice priority concerning theapproaches to certain marketing assets estimation is proposed. The problems of intellectual assetsestimation are detected. They need all-round and deep study and elimination due to the matrix thatwould connect the spheres of the company key competence and the above-mentioned types of assets.

  7. Asset Condition, Information Systems and Decision Models

    CERN Document Server

    Willett, Roger; Brown, Kerry; Mathew, Joseph

    2012-01-01

    Asset Condition, Information Systems and Decision Models, is the second volume of the Engineering Asset Management Review Series. The manuscripts provide examples of implementations of asset information systems as well as some practical applications of condition data for diagnostics and prognostics. The increasing trend is towards prognostics rather than diagnostics, hence the need for assessment and decision models that promote the conversion of condition data into prognostic information to improve life-cycle planning for engineered assets. The research papers included here serve to support the on-going development of Condition Monitoring standards. This volume comprises selected papers from the 1st, 2nd, and 3rd World Congresses on Engineering Asset Management, which were convened under the auspices of ISEAM in collaboration with a number of organisations, including CIEAM Australia, Asset Management Council Australia, BINDT UK, and Chinese Academy of Sciences, Beijing University of Chemical Technology, Chin...

  8. Intangible Assets-According to German GAAP

    Directory of Open Access Journals (Sweden)

    Heng Wang

    2009-02-01

    Full Text Available With the growth of global markets, intangible assets have become more and more important for both investors and managers in recent years. Although the economic importance of intangible assets has long been recognised, there has been extensive debate as to the definition of intangible assets, how to measure intangible assets, and the extent to which enterprises should be required to report these assets. Intangible Assets are likely to become increasingly important with the continuing development of high-technology industries and global service markets. The meaningful and comparable accounting for intangible assets is likely to remain one of the key international challenges facing the accounting profession during the next decade and beyond.

  9. Optimal Asset Allocation in Asset Liability Management

    OpenAIRE

    Jules H. van Binsbergen; Michael W. Brandt

    2007-01-01

    We study the impact of regulations on the investment decisions of a defined benefits pension plan. We assess the influence of ex ante (preventive) and ex post (punitive) risk constraints on the gains to dynamic, as opposed to myopic, decision making. We find that preventive measures, such as Value-at-Risk constraints, tend to decrease the gains to dynamic investment. In contrast, punitive constraints, such as mandatory additional contributions from the sponsor when the plan becomes underfunde...

  10. Climate change in asset management of infrastructure: A risk-based methodology applied to disruption of traffic on road networks due to the flooding of tunnels

    OpenAIRE

    Huibregtse, E.; Morales Napoles, O.; Hellebrandt, L.; D. Paprotny; S. De Wit

    2016-01-01

    This paper presents a risk-based method to quantify climate change effects on road infrastructure, as a support for decision-making on interventions. This can be implemented in climate adaptation plans as an element of asset management. The method is illustrated by a specific case in which traffic on a road network is disrupted by the flooding of a tunnel due to extreme rainfall. Novel techniques to describe both probability of occurrence and consequences of an event are integrated into the p...

  11. The use of an advanced risk-based asset management system for evaluation of rehabilitation options for an aging hydroelectric station

    International Nuclear Information System (INIS)

    An advanced risk-based asset management system, designed to assist in collating rehabilitation/ replacement options for individual components of an electric power plant was described. Application of the technique to determine rehabilitation options for an aging hydroelectric power station in Northern Ontario, was demonstrated. The method helped to assess a wide range of complex alternatives, the direct and indirect costs associated with delayed implementation of the alternatives, partial or full rehabilitation of the site, and the construction of an entirely new replacement facility.3 refs., 8 figs., 3 photos

  12. Targeted assets risk analysis.

    Science.gov (United States)

    Bouwsema, Barry

    2013-01-01

    Risk assessments utilising the consolidated risk assessment process as described by Public Safety Canada and the Centre for Security Science utilise the five threat categories of natural, human accidental, technological, human intentional and chemical, biological, radiological, nuclear or explosive (CBRNE). The categories of human intentional and CBRNE indicate intended actions against specific targets. It is therefore necessary to be able to identify which pieces of critical infrastructure represent the likely targets of individuals with malicious intent. Using the consolidated risk assessment process and the target capabilities list, coupled with the CARVER methodology and a security vulnerability analysis, it is possible to identify these targeted assets and their weaknesses. This process can help emergency managers to identify where resources should be allocated and funding spent. Targeted Assets Risk Analysis (TARA) presents a new opportunity to improve how risk is measured, monitored, managed and minimised through the four phases of emergency management, namely, prevention, preparation, response and recovery. To reduce risk throughout Canada, Defence Research and Development Canada is interested in researching the potential benefits of a comprehensive approach to risk assessment and management. The TARA provides a framework against which potential human intentional threats can be measured and quantified, thereby improving safety for all Canadians. PMID:23615063

  13. A Comparison Between a Dynamic and Static Approach to Asset Management Using CAPM Models on the Australian Securities Market

    Directory of Open Access Journals (Sweden)

    Dionigi Gerace

    2015-06-01

    Full Text Available Despite the capital asset pricing model being one of the most influential mod¬els in modern portfolio theory, it has also been a victim of criticism in numerous academic papers. Its assumptions which seem to be rather unre¬alistic, have caused many academics to improve the model by relaxing some of its restrictive statements. In this journal article, we compare the performance of an optimal portfolio of securities in the Australian securities market by constructing two theoretical portfolios; one using the capital asset pricing model which uses a single beta throughout a static investment horizon; and another, which allows the op¬timal portfolio to be rebalanced each week with an adjusted beta. The performance of the two theoretical portfolios is compared to determine the superior model. Overall, findings showed that due to rebalancing of the portfolio, the multiple period model was the superior model based on before and after transaction cost returns.

  14. INTERNAL CONTROLS AND THE POWER OF NEGOTIATION: THE ROLE OF IDENTITY MANAGEMENT IN THE PROTECTION OF INFORMATION ASSETS

    OpenAIRE

    David L. Coss

    2014-01-01

    This research is focused on developing an understanding of how individuals identify with their assigned roles and responsibility structures within an organization. Additionally it is concerned with how individuals approach their responsibility and accountability for protecting information assets within an organization. We utilize Social Identity Theory and Identity Theory as a lens for analyzing the negotiation process between an organization and their stakeholders, with respect to identifyin...

  15. Internal controls and the power of negotiation : the role of identity management in the protection of information assets

    OpenAIRE

    David L. Coss

    2014-01-01

    This research is focused on developing an understanding of how individuals identify with their assigned roles and responsibility structures within an organization. Additionally it is concerned with how individuals approach their responsibility and accountability for protecting information assets within an organization. We utilize Social Identity Theory and Identity Theory as a lens for analyzing the negotiation process between an organization and their stakeholders, with respect to identifyin...

  16. FOOD PROCESSING ASSETS

    OpenAIRE

    Gallo, Anthony E.

    1996-01-01

    U.S. food processing sector assets are valued at about $360 billion, or about 12 percent of all manufacturing assets. Profit and sales returns on assets in food processing are among the highest in the U.S. economy. Foreign holdings comprise a significant portion of food processors' assets.

  17. Capital Structure and Assets

    DEFF Research Database (Denmark)

    Flor, Christian Riis

    2008-01-01

    This paper analyzes a firm's capital structure choice when assets have outside value. Valuable assets implicitly provide a collateral and increase tax shield exploitation. The key feature in this paper is asset value uncertainty, implying that it is unknown ex ante whether the equity holders ex...... post optimally sell the assets or re-optimize the capital structure. Ex ante, more uncertain asset value decreases leverage, but not firm value, and selling the assets becomes less likely. Firms should tend to invest in assets whose value is less correlated to changes in earnings and, in addition...

  18. Securing Assets with RFID

    OpenAIRE

    Oustad, Mats; Chanrasekaram, Santhakumar

    2008-01-01

    Loss of property is something every company has had to deal with at some point, without proper securing this is a problem that is very hard to get control of. RFID has been available for decades but it has been a technology which has been dormant without very much development. In the last years the interest has grown and new ideas to use it has surfaced. This thesis is set out to present a comprehensive solution proposal for a RFID asset management system. A case will be presented which will ...

  19. Analysis of Communication System Construction of Life Cycle Asset Management in Power Grid Enterprise%析电网企业资产全寿命周期管理沟通工作体系建设

    Institute of Scientific and Technical Information of China (English)

    杨晓月; 赵大青; 张毅; 黎珊

    2015-01-01

    In order to improve the management efficiency of power grid enterprise based on physical assets gradually, this paper analyzes all the communication needs from various stakeholders and presents the communication context during each stage in assets management. The paper discusses the close-loop com-munication system from mechanism optimization, performance evaluation to continuous improvement and its role in life cycle asset management.%为不断提高以实物资产为主的电网企业管理效率,文章在分析不同利益相关方沟通需求,梳理资产管理各阶段沟通工作脉络的基础上,初步论述了从机制优化、效果评估到持续改进的闭环沟通工作体系及其所发挥的作用。

  20. On the use of genetic algorithm to optimize industrial assets lifecycle management under safety and budget constraints

    Energy Technology Data Exchange (ETDEWEB)

    Lonchampt, J.; Fessart, K. [EDF R and D, Departement MRI, 6, quai Watier, 78401 Chatou cedex (France)

    2013-07-01

    The purpose of this paper is to describe the method and tool dedicated to optimize investments planning for industrial assets. These investments may either be preventive maintenance tasks, asset enhancements or logistic investments such as spare parts purchases. The two methodological points to investigate in such an issue are: 1. The measure of the profitability of a portfolio of investments 2. The selection and planning of an optimal set of investments 3. The measure of the risk of a portfolio of investments The measure of the profitability of a set of investments in the IPOP tool is synthesised in the Net Present Value indicator. The NPV is the sum of the differences of discounted cash flows (direct costs, forced outages...) between the situations with and without a given investment. These cash flows are calculated through a pseudo-Markov reliability model representing independently the components of the industrial asset and the spare parts inventories. The component model has been widely discussed over the years but the spare part model is a new one based on some approximations that will be discussed. This model, referred as the NPV function, takes for input an investments portfolio and gives its NPV. The second issue is to optimize the NPV. If all investments were independent, this optimization would be an easy calculation, unfortunately there are two sources of dependency. The first one is introduced by the spare part model, as if components are indeed independent in their reliability model, the fact that several components use the same inventory induces a dependency. The second dependency comes from economic, technical or logistic constraints, such as a global maintenance budget limit or a safety requirement limiting the residual risk of failure of a component or group of component, making the aggregation of individual optimum not necessary feasible. The algorithm used to solve such a difficult optimization problem is a genetic algorithm. After a description

  1. On the use of genetic algorithm to optimize industrial assets lifecycle management under safety and budget constraints

    International Nuclear Information System (INIS)

    The purpose of this paper is to describe the method and tool dedicated to optimize investments planning for industrial assets. These investments may either be preventive maintenance tasks, asset enhancements or logistic investments such as spare parts purchases. The two methodological points to investigate in such an issue are: 1. The measure of the profitability of a portfolio of investments 2. The selection and planning of an optimal set of investments 3. The measure of the risk of a portfolio of investments The measure of the profitability of a set of investments in the IPOP tool is synthesised in the Net Present Value indicator. The NPV is the sum of the differences of discounted cash flows (direct costs, forced outages...) between the situations with and without a given investment. These cash flows are calculated through a pseudo-Markov reliability model representing independently the components of the industrial asset and the spare parts inventories. The component model has been widely discussed over the years but the spare part model is a new one based on some approximations that will be discussed. This model, referred as the NPV function, takes for input an investments portfolio and gives its NPV. The second issue is to optimize the NPV. If all investments were independent, this optimization would be an easy calculation, unfortunately there are two sources of dependency. The first one is introduced by the spare part model, as if components are indeed independent in their reliability model, the fact that several components use the same inventory induces a dependency. The second dependency comes from economic, technical or logistic constraints, such as a global maintenance budget limit or a safety requirement limiting the residual risk of failure of a component or group of component, making the aggregation of individual optimum not necessary feasible. The algorithm used to solve such a difficult optimization problem is a genetic algorithm. After a description

  2. Methods and apparatus for switching a transponder to an active state, and asset management systems employing same

    Science.gov (United States)

    Mickle, Marlin H. (Inventor); Jones, Alex K. (Inventor); Cain, James T. (Inventor); Hawrylak, Peter J. (Inventor); Marx, Frank (Inventor); Hoare, Raymond R. (Inventor)

    2012-01-01

    A transponder that may be used as an RFID tag includes a passive circuit to eliminate the need for an "always on" active RF receiving element to anticipate a wake-up signal for the balance of the transponder electronics. This solution allows the entire active transponder to have all circuit elements in a sleep (standby) state, thus drastically extending battery life or other charge storage device life. Also, a wake-up solution that reduces total energy consumption of an active transponder system by allowing all non-addressed transponders to remain in a sleep (standby) state, thereby reducing total system or collection energy. Also, the transponder and wake-up solution are employed in an asset tracking system.

  3. Dukovany ASSET mission preparation

    International Nuclear Information System (INIS)

    We are in the final stages of the Dukovany ASSET mission 1996 preparation. I would like to present some of our recent experiences. Maybe they would be helpful to other plants, that host ASSET missions in future

  4. Salience and Asset Prices

    OpenAIRE

    Bordalo, Pedro; Gennaioli, Nicola; Shleifer, Andrei

    2013-01-01

    We present a simple model of asset pricing in which payoff salience drives investors' demand for risky assets. The key implication is that extreme payoffs receive disproportionate weight in the market valuation of assets. The model accounts for several puzzles in finance in an intuitive way, including preference for assets with a chance of very high payoffs, an aggregate equity premium, and countercyclical variation in stock market returns.

  5. Asset Pricing Theories

    OpenAIRE

    Michael Rothschild

    1985-01-01

    This article compares two leading models of asset pricing: the capital asset pricing model (CAPM) and the arbitrage pricing theory (APT): I argue that while the APT is compatible with the data available for testing theories of asset pricing, the CAPM is not. In reaching this conclusion emphasis is placed on the distinction between the unconditional (relatively incomplete) information which econometricians must use to estimate asset pricing models and the conditional (complete) information whi...

  6. Asset tracking in harsh environments

    International Nuclear Information System (INIS)

    Current economic times require tight control of all assets / inventory and processes a company manages. These items if managed correctly and timely can mean the difference between success and failure of a company. Cost savings in hard economic times are essential to allow a company to utilize its assets to the fullest potential by eliminating duplication and waste. Accurate process management leads to greater customer satisfaction and loyalty. Many industries and processes have believed it to be impossible to track their products or assets using bar-codes due to the unique conditions of their environment; whether it is high temperature, rough handling or chemicals. That has now changed. Companies specializing in identification methods have stepped up to the challenge and have overcome many obstacles of the past. It's no longer a paper or plastic bar-code world. The presentation will be broken down into four parts: 1) The differences between Asset and ID tracking; 2) Why does a company need to bar-code?; 3) The objections many companies use for not bar-coding; and, 4) What's new in bar-coding? Case study handouts and a reference list of various companies including software, labeling and attachment techniques will be available at the end of the presentation. (author)

  7. Optimiser les ressources en images fixes avec un système de Digital Asset Management (DAM) ? Le cas d'Archimag

    OpenAIRE

    Senesi, Vera

    2010-01-01

    Ce mémoire a pour objectif de définir le DAM, Digital Asset Management. Il commence par exposer le contexte, le passage au numérique, qui a permis la naissance des systèmes de DAM, et définit ce système de gestion de contenu et ses spécificités. Il aborde ensuite dans une plate-forme DAM la chaîne des fonctions qui permet à tout média d'être numérisé et/ou intégré, indexé, édité, recherché, distribué, puis s'intéresse aux solutions DAM orientées images fixes. Enfin, il décrit le besoin d'une ...

  8. CONSIDERATION REGARDING CURRENT ASSETS IN THE CONSTRUCTION ENTITIES

    Directory of Open Access Journals (Sweden)

    Laura Adriana COJOCARU (ALIONESCU

    2014-06-01

    Full Text Available Accounting for current assets mainly aims to obtain useful information on the management of their best in order to make management decisions. Counting efficiency of these assets, their importance, provides improved performance of the entity. In this paper we want to study the degree of implementation of policies and accounting treatments on the current assets in the specific construction economic entities, the problems of implementation and thus better addressing their theoretical and procedural to improve the information provided by financial statements. Due to the importance of proper conduct of business owned entities, accounting current assets should result in optimal and efficient control of current assets.

  9. 行政事业单位无形资产管理探析%Research on Management of Intangible Assets in Administrative Institutions

    Institute of Scientific and Technical Information of China (English)

    黄艳霞

    2013-01-01

      With the rapid development of knowledge economy and informatization, the importance of intangi-ble assets(IA) management is highlighted in the routine operation of administrative institutions and manage-ment of public service. However, due to the outdated management concepts, flaws in current legal system as well as the specialties of IA, its management turns out to be vulnerable in the general system. To cope with the existing problems and challenges, measures must be taken to establish a sound legal system and feasible mechanisms for the HR distribution, monitoring and evaluation.%  在新经济和信息化建设迅猛发展的环境下,无形资产在我国行政事业单位的日常行政运行及公共事业管理中的重要性与日俱增。然而传统管理观念的滞后、法律法规制度的不足,以及无形资产本身的一些特性,导致了目前行政事业单位对无形资产的管理处于较为薄弱的环节。针对这些管理中存在的难点和挑战,需要从法规制度建设、人才配备、监督考核机制完善等方面加以改良和提高,从而提升政府行政效能和公共事业管理与服务水平。

  10. A process approach for managing credit asset portfolios in a South African bank / Pieter Gabriël Vosloo

    OpenAIRE

    Vosloo, Pieter Gabriël

    2003-01-01

    The operating environment in which banks conduct their business, especially the credit risk environment, underwent significant changes since the latter half of the previous decade. Developments have resulted in a bombardment of quantitative and qualitative credit risk information and data on the one hand, and on the other an absence of a clear focus and management approach and philosophy to effectively manage credit risk. The primary objective of the research was the formulatio...

  11. Securitization and Asset Prices

    OpenAIRE

    Aksoy, Yunus; Henrique S. Basso

    2015-01-01

    During the 15 years prior to the global financial crisis the volume of securitized assets transacted in the US has grown substantially, reflecting a change in the nature of the financial intermediation process. Together with increased securitization, financial entities, who participate more heavily in the asset-backed security (ABS) market and hold a diversified portfolio of assets, have also become more relevant. As a result, the volume of securitization, although traditionally associated wi...

  12. Securitization and asset prices

    OpenAIRE

    Yunus Aksoy; Henrique S. Basso

    2015-01-01

    We investigate the link between securitization and asset prices and show that increases in the growth rate of the volume of ABS issuance lead to a sizable decline in bond and equity premia. Furthermore, we show that in a model where banks select their portfolio of assets and create synthetic securities, the compensation for undertaking risk decreases as securitization increases. The pooling and tranching of credit assets relaxes both the funding and the risk constraints banks face allowing th...

  13. Securitization and asset prices

    OpenAIRE

    Aksoy, Yunus; Basso, Henrique

    2014-01-01

    During the 15 years prior to the global financial crisis the volume of securitized assets transacted in the US has grown substantially, reflecting a change in the nature of the financial intermediation process. Together with increased securitization, financial entities, who participate more heavily in the asset-backed security (ABS) market and hold a diversified portfolio of assets, have also become more relevant. As a result, the volume of securitization, although traditionally associated wi...

  14. Japanese views on ASSET

    International Nuclear Information System (INIS)

    In general, the ASSET has had a positive effect on enhancement of operating experience feedback. The ASSET has played an important role to supply information to the IAEA Extra Budgetary Program. However, this role has come to an end; since the needs for safety upgrading have become identified and prioritized. ASSET missions in future: Linkage among various safety missions should be sought in order to avoid duplication and to enhance effective usage of a limited budget and human resources

  15. When private water rights become a public asset: Stakeholder perspectives on the fairness of environmental water management

    Science.gov (United States)

    Lukasiewicz, Anna; Dare, Melanie (Lain)

    2016-05-01

    This paper explores environmental water management as a social process of navigating conflicting interests through a distributive justice lens. Environmental water management can achieve substantial ecological outcomes and address ongoing river degradation caused by past management and climate change; however it also causes specific and substantial burdens and benefits to different groups of stakeholders. Given that in most developed countries the majority of land is under private tenure, environmental watering must have active cooperation of private landholders to achieve its ecological outcomes and thus it must effectively deal with an array of vested interests. Australia's reforms aimed at reallocating water from production to the environment have resulted in significant considerable volumes of environmental water. In the state of New South Wales, this water is managed by the state and national governments with the help of five Environmental Water Advisory Groups made up of a wide representation of interests. In this paper, we explore the perceptions of environmental, government, irrigator and grazing representatives, which demonstrate conflicting principles over how environmental water should be distributed. We detail how government water managers reconcile competing distributive principles of equity (ensuring that no one is disproportionally affected or benefits unduly), need (achieving environmental outcomes) and efficiency (prioritizing operational feasibility) in order to maintain the social acceptability of environmental water.

  16. The Importance of the Security Culture in SMEs as Regards the Correct Management of the Security of Their Assets

    Directory of Open Access Journals (Sweden)

    Antonio Santos-Olmo

    2016-07-01

    Full Text Available The information society is increasingly more dependent on Information Security Management Systems (ISMSs, and the availability of these kinds of systems is now vital for the development of Small and Medium-Sized Enterprises (SMEs. However, these companies require ISMSs that have been adapted to their special features, and which are optimized as regards the resources needed to deploy and maintain them. This article shows how important the security culture within ISMSs is for SMEs, and how the concept of security culture has been introduced into a security management methodology (MARISMA is a Methodology for “Information Security Management System in SMEs” developed by the Sicaman Nuevas Tecnologías Company, Research Group GSyA and Alarcos of the University of Castilla-La Mancha. for SMEs. This model is currently being directly applied to real cases, thus allowing a steady improvement to be made to its implementation.

  17. The Development and Application Results of Hospital Fixed Asset Management Software Based on ASP.NET%基于ASP.NET医院固定资产管理软件的开发与应用成效

    Institute of Scientific and Technical Information of China (English)

    张娜; 杨建民

    2014-01-01

    目的:针对医院的固定资产业务活动,规范管理流程,自主设计开发权责分明、全程跟踪、信息共享、三帐一卡的固定资产管理系统。方法:以SQL Server数据库为中心,ASP.NET、C#为开发语言,应用基于B/S的浏览器平台,通过QRCode二维码技术监管固定资产整个生命周期。结果:保证了医院固定资产安全完整,极大地提高了工作效率,发挥了固定资产最大效益,也为经济分析和决策提供了依据。%Objective: For the fixed assets business activities of hospitals, the management process is standardized. The fixed assets management system with clear responsibilities, all-the-way tracking, information sharing and three accounts and one card is independently designed and developed. Methods: With SQL Server database as the center, and ASP.NET、C# as the development language, the browser platform based on B/S is applied. Through QRCode two-dimension code technology, the entire life cycle of fixed assets is supervised and managed. Results: Safety and integrity of fixed assets of our hospital is ensured, the working efficiency is greatly improved, the biggest benefit of fixed assets is given full play to, and the basis is provided for economic analysis and decision-making.

  18. INTANGIBLE ASSETS – AN OPEN ISSUE

    OpenAIRE

    Cristina-Ionela Fadur

    2011-01-01

    We live in an ever more competitive, globalized world, in continuous technological evolution. Optimal resource management implies detailed knowledge on the value of intangible assets. In the present article, we aim to analyze the issue of intangible assets from the perspective of the Spanish accounting system, in order to identify the similarities and differences between it and the Romanian accounting system. The purpose of our approach is to complete the stage of knowledge concerning intangi...

  19. THE BUSINESS MODEL AND FINANCIAL ASSETS MEASUREMENT

    OpenAIRE

    Ileana NICULA

    2012-01-01

    The paper work analyses some aspects regarding the implementation of IFRS 9, the relationship between the business model approach and the assets classification and measurement. It does not discuss the cash flows characteristics, another important aspect of assets classification, or the reclassifications. The business model is related to some characteristics of the banks (opaqueness, leverage ratio, compliance to capital, sound liquidity requirements and risk management) and to Special Purpose...

  20. Valuing the human asset - the impact of university placements on academic performance and graduate employment amongst management students

    Science.gov (United States)

    Brooks, R.

    2012-05-01

    The employment market for graduates is competitive with employers requiring appropriate work experience in addition to academic qualifications. Sandwich courses, where up to a year is spent in industry, provide an opportunity for structured work experience to be gained alongside studying. Benefits of placements include improved academic performance and the development of transferable skills to increase employability. This paper evaluates the impact of placements on academic performance and graduate employment among management students. Analysing performance data and graduate destinations data, results indicate that management students completing a placement are more likely to perform better academically with improvements in their personal grades between year 2 and the final year. Additionally, a qualitative themed analysis of student experiences indicates placement students feel more confident in engaging with the graduate recruitment process, with a better understanding of their personal skills and an ability to articulate their experience in relation to the workplace.

  1. Mission and Assets Database

    Science.gov (United States)

    Baldwin, John; Zendejas, Silvino; Gutheinz, Sandy; Borden, Chester; Wang, Yeou-Fang

    2009-01-01

    Mission and Assets Database (MADB) Version 1.0 is an SQL database system with a Web user interface to centralize information. The database stores flight project support resource requirements, view periods, antenna information, schedule, and forecast results for use in mid-range and long-term planning of Deep Space Network (DSN) assets.

  2. The inclusion of a business management module within the master of pharmacy degree: a route to asset enrichment?

    Directory of Open Access Journals (Sweden)

    Fleming H

    2013-06-01

    Full Text Available Background: Over the past decade the profession of pharmacy has steadily evolved. The New Pharmacy Contract exposed pharmacists to a fundamental change in traditional pharmacy business models. Objective: This study will consider whether community pharmacists, pharmacy undergraduates and academic staff within the United Kingdom believe it would be beneficial to incorporate a business management module within the Master of Pharmacy (MPharm undergraduate degree along with potential mechanisms of delivery.Methods: Further to ethical approval, the questionnaire was distributed to UK registered pharmacists (n=600, MPharm undergraduates (n=441 and academic staff at Liverpool John Moores University (n=44. The questions were formatted as multiple choice questions, Likert scales or the open answer type. On questionnaire completion and return, data were analysed using simple frequencies, cross tabulations and non-parametric techniques in the SPSS (v18.Results: The majority of pharmacists (84.9% confirmed that business skills affect their everyday responsibilities to a considerable extent. A high proportion of undergraduate students (92.8% believed that business management skills will impact on their future role. In total, 64.3% of this cohort declared that if a module were introduced they would study it. The majority of staff (79% agreed that business skills are gaining increased importance within the field of pharmacy. Conclusions: Data suggest that business skills are of relevance to the practice of pharmacy. Appropriate staff to deliver the taught material would include business owners / lecturers and teaching practitioners covering topics including management, leadership, interpersonal skills and regulation. We suggest the inclusion of a business module with the MPharm degree would be of great value in preparing individuals for practice within a modern day healthcare setting.

  3. Research on the Optimal Allocation of Assets Structure and Corporation Management Performance: A Case Study of China Textile Machinery Co., Ltd

    Directory of Open Access Journals (Sweden)

    ZhengSheng Xu

    2013-09-01

    Full Text Available This study argues that the research of assets structure has more practical value and universal significance than capital structure. They are the main source of creating corporate value and avoid risks. As a result, this study tries to evaluate the relationship between assets structure and business performance through the correlation of the demonstration about listed company. On this basis, the study separately and then curve fitting each variable, trying to fit in the established model based on the equation, find the optimal asset allocation values. This study will get the multivariate linear regression equation.

  4. Asset protection through security awareness

    CERN Document Server

    Speed, Tyler Justin

    2011-01-01

    Introduction: What Is Information Security? Creating a Culture of Security Awareness Protecting Corporate Assets Protective MeasuresA Culture of Security AwarenessRemaining DynamicOverview of Security Awareness Categories Overview Industry StandardsPrivacy ConcernsPassword Management Credit Card Compliance (PCI) General File ManagementExamples of Security Regulations and LawsWho Is an IS Professional?Introduction Empowering Security Professionals Top-Down ApproachDiplomacyThe People Portion of Information SecurityThe IS SpecialistDiplomacy-The IS Professional's Best FriendEnd Users Are Great N

  5. RFID-BASED REAL-TIME MANAGEMENT SYSTEM FOR FIXED ASSETS IN UNIVERSITIES%基于 RFID的高校实时固定资产管理系统

    Institute of Scientific and Technical Information of China (English)

    顾亦然; 戴晓罡

    2013-01-01

    采用电子标签和射频识读器来管理高校固定资产,改变传统的管理方式。将电子标签嵌入到固定资产内,管理员可以使用手持识读器对标签进行修改。遍布校园的分布识读器可以对全校的固定资产进行自动管理。将数据绑定在校园地图上,用户可以在电子地图上查询数据。提出一个任务调度算法,对嵌入式系统的CPU时间进行合理分配。通过应用该系统,高校固定资产管理的效率和准确性得到了极大的提高,同时降低了资产管理的成本。%The electronic tags and radio frequency reader are applied to manage the fixed assets in universities , this changes the traditional management means .By embedding the electronic tags into the fixed assets , the administrators can modify their information with handheld RFID reader.The distributed readers all around the campus can manage the fixed assets of the whole university automatically .By binding the data to the campus map , the users can query the data on e-map.In order to allocate the CPU time of embedded system reasonably , a task scheduling algorithm is proposed at the same time .Through the application of this system , the efficiency and accuracy of fixed assets management in universities will be greatly improved , and the management cost will be decreased as well .

  6. Asset management on books and reference materials in academic library supported by three-level information support system%三级文献保障体系下的高校图书资产管理探索

    Institute of Scientific and Technical Information of China (English)

    庄玫; 邵敏; 陈辉; 赵庆双

    2014-01-01

    在由校图书馆、专业图书馆和院系资料室构成的三级文献保障体系下,清华大学图书馆针对图书资产管理工作采用“分层控制、统一规范、动态管理”的管理模式,促进了资产管理的科学化与标准化,保障图书资产的连续性、完整性、完好性和共享性。该校图书馆还试用超高频RFID管理系统,提高了图书的动态管理水平,提高了图书馆工作人员的工作效率。%Supported-by-the-Three-level-Document-System-which-contains-Academic-library-,Branch-library-and-Reference-material-house-,one-special-asset-management-scheme-has-been-introduced-to-Tsinghua-University-Library-regarding-the-asset-management-of-books-and-reference-materials-.-The-scheme-consists-of-three-sections-which-are-the-level-dominated-control-,the-synchronized-standard-and-the-dynamic-management-.The-introduced-scheme-has-rationalized-the-asset-management-process-and-helped-to-secure-the-consistency-,-integrity-,quality-and-sharing-of-the-books-and-reference-materials-.

  7. Asset sharing platform construction in project management organizational process of China Communications Service Company%中国通服项目管理组织过程资产共享平台建设研究

    Institute of Scientific and Technical Information of China (English)

    李立高

    2015-01-01

    项目管理组织过程资产是一种重要的信息资源,如何基于网络环境进行发布、利用和管理,同时兼顾数据的统一标准和有效传输,使得组织过程资产真正地为广大中国通服在岗项目管理人员所使用,借以提高企业的核心竞争力,即建立项目管理组织过程资产的共享技术平台是文章研究的主要内容。%Project management organizational process asset is a kind of important information resources. This paper mainly studies the ways to carry on the distribution, utilization and management based on network environment, and at the same time, the unified standard and effective transmission of the data should also be paid attention to. In this way, the organizational process assets can be used by the majority of the project management personnel so as to improve the core competitiveness of the enterprise. That means to establish the sharing technology platform of the project management organizational process asset.

  8. Households' Interest-bearing Assets

    OpenAIRE

    Ellis Connolly; Fiona Fleming; Jarkko Jääskelä

    2012-01-01

    Households invest around two-fifths of their financial assets in interest-bearing assets. These assets are predominantly held directly in deposits and also via superannuation and other investment funds. Deposits have grown strongly in recent years, although there has been no growth in interest-bearing securities. Compared with other advanced economies, interest-bearing assets represent a relatively small share of financial assets. For the household sector as a whole, interest-bearing assets a...

  9. 电网资产全寿命周期管理外部环境主体识别%Identification of External Environment Interest Groups of Power Grid Assets Life Cycle Management

    Institute of Scientific and Technical Information of China (English)

    闫庆友; 王小雅

    2012-01-01

    针对资产全寿命周期管理在一定程度上受到多种外部环境因素影响的问题,根据电网资产全寿命周期管理的特点,将其流程划分为规划设计、采购建设、运行检修和退役报废4个阶段,分析了4个阶段的资产管理具体工作内容及其相应的外部环境,并识别出每一阶段的外部环境主体,为进一步研究电网资产全寿命周期管理外部环境协调机制奠定了基础.%The life cycle asset management is affected by various external environment factors to some extent. According to the characteristics of life cycle asset management of power grid, this paper divides the life cycle asset management of power grid into four stages, which includes planning and designing stage, procurement and construction stage, operation and maintenance stage and retired and disposal stage. And then the specific work content and its corresponding external environment in four stages are analyzed to identify the major interest groups in each stage. Therefore, it will lay the foundations to further study the external environment coordination mechanism of power grid asset life cycle management.

  10. The rise of citizen competence: asset or handicap for the French authorities during post-accident management?

    International Nuclear Information System (INIS)

    EDA is a non-profit association of volunteer members aware of the limits of the planet's capacities and motivated to prepare a future based on sustainability and solidarity. The ability to plan in advance the measures to be taken in a post-accident situation, adapting them to the territory concerned and making full use of active and responsible involvement by local participants, is highly valuable. Naturally, this must not take precedence over all the preventive measures to ensure that an accident does not occur. We did not think that after 40 years of practical experience and after 20 years of observation of the seriousness of the consequence of Chernobyl we were so unprepared today. The CLIs (local information committees) attached to basic nuclear installations are indisputably the crucial links to be used to provide the necessary training of selected citizens to help manage the emergency phase and above all the post-accident phases, on condition that they receive financial resources commensurate with the challenges to be faced. It is also important to consider increasing the competence of citizens over the whole territory. Nothing can be achieved under satisfactory conditions if the citizens are not prepared well in advance: this must begin at school, so that the population knows how to behave in these situations. We appreciate being associated with the work of CODIRPA in 'calm' phases and we try to make an active contribution at our level. The accounts from Norway and Belarus are there to prevent us from forgetting that we are all concerned. From 2008 we hope to play a constructive and committed role in confronting the challenges to be faced and thank ASN for allowing us to take part in the work of CODIPPA. (author)

  11. Asset price, asset securitization and financial stability

    OpenAIRE

    Liu, Luke

    2011-01-01

    Prior to the Global Financial Crisis in 2008, securitization has been widely perceived as a way to disperse credit risks, and to enhance financial system’s capacity in dealing with defaults. This paper develops a model of securitization and financial stability in the form of amplification effects. This model has illustrated three different scenarios: A negative shock in the economy will lead to downturn of the economy and falling of the asset prices, deteriorating balance sheets and tightenin...

  12. Asset Inventory Database

    Data.gov (United States)

    US Agency for International Development — AIDM is used to track USAID assets such as furniture, computers, and equipment. Using portable bar code readers, receiving and inventory personnel can capture...

  13. Metadata for the description of broadcast assets

    DEFF Research Database (Denmark)

    Efthimiadis, Efthimis N.; Mai, Jens Erik; Burrows, Paul E.;

    2003-01-01

    . The concerns for Media Asset Management, human and technical, are myriad. Media Asset Management is the framework upon which many of the largest technology projects will be built, including the future interconnection system between and among CPB member stations. It is CPB's hope that its licensees and...... broadcasters and media companies to deal with the creationand maintenance of metadata, indexing and controlled vocabularies required for effective Media Asset Management of broadcasts. Panelist will provide perspectives of their organization or project, for example, the CPB's PB Core metadata element set......, which is currently under development; the Disney Nomenclature Registry at Disney Corporation; and the ViDe (video access group) MPEG-7 and Dublin Core mapping....

  14. Asset Stock Accumulation and Sustainability of Competitive Advantage

    OpenAIRE

    Ingemar Dierickx; Karel Cool

    1989-01-01

    Given incomplete factor markets, appropriate time paths of flow variables must be chosen to build required stocks of assets. That is, critical resources are accumulated rather than acquired in "strategic factor markets" (Barney [Barney, J. 1986. Strategic factor markets: Expectations, luck, and business strategy. Management Sci. (October) 1231--1241.]). Sustainability of a firm's asset position hinges on how easily assets can be substituted or imitated. Imitability is linked to the characteri...

  15. Optimal Asset Allocation for Sovereign Wealth Funds: Theory and Practice

    OpenAIRE

    Zvi Bodie; Marie Brière

    2014-01-01

    This paper addresses management of sovereign wealth from the perspective of the theory of contingent claims.Starting with the sovereign’s balance sheet, we frame sovereign fund management as an asset-liability management (ALM) problem, covering all public entities and taking explicit account of all sources of risks affecting government resources and expenditures. Real-life SWFs asset allocations differ strongly from theoretical ones. Financial management of the sovereign balance sheet is hamp...

  16. Conformance and Non Conformance of Asset Managers to Environment, Social and Governance Pressures - Sensemaking capacities and the use of externally defined information- / Conformance et Non Conformance des Gestionnaires d'Actifs aux Pressions Environmental, Social et Gouvernance - Capabilités de sensemaking et l'usage d'information externellement définie-

    OpenAIRE

    Sakuma, Kyoko

    2012-01-01

    This thesis focuses on a central behavioral paradox in the asset management community. Recent decades have brought an upsurge in initiatives throughout the investment community to voluntarily integrate sustainability issues into investment decisions. The financial crisis has however revealed behavioral inconsistency and deepening irresponsibility. Today, sustainable investments represent USD 10.7 trillion, or 7% of the entire market, of assets under management and it is growing steadily. O...

  17. 论商业银行资产负债比例管理控制论系统%ON THE CYBERNETIC SYSTEM OF THE COMMERCIAL BANK ASSET LIABILITY-RATIOS MANAGEMENT

    Institute of Scientific and Technical Information of China (English)

    彭建刚; Rudi Vander Vennet

    2000-01-01

    This paper presents the view on the innovation of commercial bank manangement. Authors combine financial theory with cybernetics and system theory to prove and elucidate a new bank management method: the cybernetic system of commercial bank asset-liability-ratios management.%本文提出了商业银行管理创新的观点,作者将金融理论、控制论、系统论有机地结合起来,提出并论证了一种新的银行管理方法:商业银行资产负债比例管理控制论系统.

  18. Basel III and Asset Securitization

    OpenAIRE

    M. Mpundu; Petersen, M. A.; Mukuddem-Petersen, J.; Gideon, F.

    2013-01-01

    Asset securitization via special purpose entities involves the process of transforming assets into securities that are issued to investors. These investors hold the rights to payments supported by the cash flows from an asset pool held by the said entity. In this paper, we discuss the mechanism by which low- and high-quality entities securitize low- and high-quality assets, respectively, into collateralized debt obligations. During the 2007–2009 financial crisis, asset securitization was seri...

  19. Rational Asset Pricing Bubbles Revisited

    OpenAIRE

    Jan Werner

    2012-01-01

    Price bubble arises when the price of an asset exceeds the asset's fundamental value, that is, the present value of future dividend payments. The important result of Santos and Woodford (1997) says that price bubbles cannot exist in equilibrium in the standard dynamic asset pricing model with rational agents as long as assets are in strictly positive supply and the present value of total future resources is finite. This paper explores the possibility of asset price bubbles when either one of ...

  20. Asset Pricing - A Brief Review

    OpenAIRE

    Li, Minqiang

    2010-01-01

    I first introduce the early-stage and modern classical asset pricing and portfolio theories. These include: the capital asset pricing model (CAPM), the arbitrage pricing theory (APT), the consumption capital asset pricing model (CCAPM), the intertemporal capital asset pricing model (ICAPM), and some other important modern concepts and techniques. Finally, I discuss the most recent development during the last decade and the outlook in the field of asset pricing.

  1. Asset Management: A Sustainable Strategy

    International Nuclear Information System (INIS)

    New plants are on the horizon. Plans for no less than thirteen (13) Combined Operating Licenses (COL's) have been announced in 2005 with corresponding submittals to begin by 2007. Several utilities have announced intentions of breaking ground in 2010, meaning that heavy component orders will have to be placed as early as 2007. Industry analysts' project that 100 new plants will be required in the next 25 years. With an average lead time of 10 years, the bulk of the new plant orders will have to be placed by not later than 2015. This equates to almost 8-9 new plant orders a year. (author)

  2. A Tutorial on Nonlinear Time-Series Data Mining in Engineering Asset Health and Reliability Prediction: Concepts, Models, and Algorithms

    OpenAIRE

    Ming Dong

    2010-01-01

    The primary objective of engineering asset management is to optimize assets service delivery potential and to minimize the related risks and costs over their entire life through the development and application of asset health and usage management in which the health and reliability prediction plays an important role. In real-life situations where an engineering asset operates under dynamic operational and environmental conditions, the lifetime of an engineering asset is generally described as...

  3. Asset and Liability Management Optimal Model based on VaR Preparation Duration Gap%基于VaR控制预留缺口的资产负债管理优化模型

    Institute of Scientific and Technical Information of China (English)

    迟国泰; 闫达文

    2011-01-01

    Asset liability management is an effective method to maximize asset portfolio profits by coordinating internal relationships between capital source and capital use at an acceptable risk level. A bank' s net worth or shareholder equity changes constantly because the values of asset and liability change with interest rates. Risk control of interest rates is important because interest rate risks are an kernel aspect in asset liability management.Assets liabilities management optimal model is set up through VaR risk control constrained with interest rate changes, and profit maximization of asset portfolio. Preparation duration gap offers an opportunity to increase a bank' s net worth at floating interest rates moving in favorable directions. Preparation duration gap can help control changes to a bank' s net worth through VaR constraints of risk limitation when market interest rates change in unfavorable directions. We make sure that a bank' s capital losses do not exceed net interest profits at certain confidence levels. A bank' s interest rate risk is controlled at an acceptable tolerance level.In Section I, we introduce the advantages and disadvantages of interest rate risk management based on the current literature. A bank' s assets portfolio can increase the bank net worth through preparation duration gap when the market interest rate changes in favorable directions. A bank' s assets portfolio meets the requirement risk limitation. Through the preparation duration gap, asset portfolio can increase a bank' s net worth at floating interest rates when market interest rates change in favorable directions. Through the preparation duration gap, a control bank' s assets portfolio can meet risk limitation requirements at certain confidence levels when market interest rates change in unfavorable direction. In Section 2, we propose a model to optimize asset and liability management based on the preparation duration gap. The model uses an objective function of interest income

  4. Does Reversal of Asset Impairment Loss Matter? Evidence from China

    Directory of Open Access Journals (Sweden)

    Ming-Lei Chang

    2015-04-01

    Full Text Available The purpose of this research is to investigate whether the reforms of asset impairment regulations affect the provision and functional role of impairment losses and reversals of listed firms in China. The results reveal that listed firms decrease the provision of long-term asset impairments, but increase the provision of current asset impairments and reversals following the implementation of new asset impairment regulations. This research also verifies that listed firms adjust impairment provisions and reversals policy for income smoothing and big-bath purposes. Under different earnings management incentives, this study also finds that special treatment (ST and non-ST firms show different level of accounting policy adjustment.

  5. Making Web Sites an Effective Recruitment Asset: Content Management Solutions Keep Web Sites Fresh and Relevant--and Students Engaged. Noel-Levitz White Paper

    Science.gov (United States)

    Noel-Levitz, Inc, 2009

    2009-01-01

    Have you updated your Web site today? Is it possible that answering "yes" to this simple question is the key to the success of your marketing and recruiting efforts? In the current recruitment arena, the ability to update and maintain this one high-value asset (your Web site) might be the key to the potency of your institutional marketing effort.…

  6. Livelihood asset maps: a multidimensional approach to measuring risk-management capacity and adaptation policy targeting—a case study in Bhutan

    DEFF Research Database (Denmark)

    Jakobsen, Kristian Thor

    2013-01-01

    the fact that some areas facing increased level of climate-related risks lack access to productive and human capital, while other areas facing a similar situation have relatively insufficient access to financial assets. This again shows that any non-targeted policy aiming at improving households’ risk...

  7. COLLATERALIZED DEBT OBLIGATION IN THE MECHANISM OF SECURITIZATION OF ASSETS

    OpenAIRE

    Solodkaya, Olga

    2015-01-01

    The article examines the nature and features of the structure CDO. The characteristics of classic and synthetic securitization of assets. The expediency of implementation of collateralized debt obligation in the mechanism of securitization assets. The conditions of efficient CDO’s portfolio management in the сash flow transaction and market value transaction.

  8. Asset Poverty in India

    OpenAIRE

    Swati Dutta

    2013-01-01

    In order to formulate policy to target the correctly identified rural poor in India, focus on an income poverty measure alone is insufficient. The purpose of this research is to study a new area of poverty measurement based on data that detail a household’s access to basic assets. The study has used the secondary data source provided by the Demographic and Health Survey (DHS) for the time period of 1992, 1998 and 2005. In order to construct the asset index the technique of multiple correspo...

  9. Inflation and Asset Prices

    OpenAIRE

    Tatom, John

    2011-01-01

    Changes in the general level of prices and inflation have profound effects on asset prices. There are several reasons for these effects and the influence differs depending on the source of the inflation and whether it is expected or not. To understand these effects it is important to clarify what is meant by inflation, the pure theory of the sources of inflation, how inflation affects goods and services prices and how it affects the assets that are used to finance production, both equity pr...

  10. Failure Monitoring and Asset Condition Assessment in Water Supply Systems

    OpenAIRE

    Misiunas, Dalius

    2005-01-01

    In this thesis, different aspects of failure management in urban water supply systems are discussed. As assets are getting older, the number of pipe failures is increasing and an efficient failure management strategy becomes important. Two types of failure management strategies can be applied: proactive asset condition assessment and reactive failure detection and location. Currently available condition assessment techniques cannot be extensively applied in water supply systems due to high co...

  11. Measuring the strategic readiness of intangible assets.

    Science.gov (United States)

    Kaplan, Robert S; Norton, David P

    2004-02-01

    Measuring the value of intangible assets such as company culture, knowledge management systems, and employees' skills is the holy grail of accounting. Executives know that these intangibles, being hard to imitate, are powerful sources of sustainable competitive advantage. If managers could measure them, they could manage the company's competitive position more easily and accurately. In one sense, the challenge is impossible. Intangible assets are unlike financial and physical resources in that their value depends on how well they serve the organizations that own them. But while this prevents an independent valuation of intangible assets, it also points to an altogether different approach for assessing their worth. In this article, the creators of the Balanced Scorecard draw on its tools and framework--in particular, a tool called the strategy map--to present a step-by-step way to determine "strategic readiness," which refers to the alignment of an organization's human, information, and organization capital with its strategy. In the method the authors describe, the firm identifies the processes most critical to creating and delivering its value proposition and determines the human, information, and organization capital the processes require. Some managers shy away from measuring intangible assets because they seem so subjective. But by using the systematic approaches set out in this article, companies can now measure what they want, rather than wanting only what they can currently measure. PMID:14971269

  12. Capitalizing hidden values from hospital assets.

    Science.gov (United States)

    Beith, Carsten; Vaughan, James

    2010-04-01

    Benefits from selling noncore assets include generating capital and freeing up management resources. Monetization transaction structures include sale, partnership, and strategic affiliation. A hospital that engages in such a transaction needs to ensure that the purchaser or joint venture partner will maintain the hospital's high standards of care and ethical principles. PMID:20358876

  13. Downside Risk And Empirical Asset Pricing

    NARCIS (Netherlands)

    P. van Vliet (Pim)

    2004-01-01

    textabstractCurrently, the Nobel prize winning Capital Asset Pricing Model (CAPM) celebrates its 40th birthday. Although widely applied in financial management, this model does not fully capture the empirical riskreturn relation of stocks; witness the beta, size, value and momentum effects. These pr

  14. The Discussion of the Development and Supervision Measures of Securities Company's Collective Asset Management Business%券商集合资产管理业务发展及监管对策探析

    Institute of Scientific and Technical Information of China (English)

    朱晓俊; 张晓惠; 李文华; 何奇骑; 李云亮

    2012-01-01

    The asset management business of securities companies was not standard before their comprehensive treatments.Comprehensive treatments established the regulatory system foundation of the development of Securities Company's Collective Asset Management business,and consequently,this business turned over a new leaf with a great development.This paper emphasizes on the problems existing in the development of asset management business of securities companies,such as small scale,low operating efficiency,restrictive products sale,deviative products issue compared to investment mainstream and market operation,insufficient risk management and product innovation.In order to promote the continuous and healthy development of collective asset management business,some supervision measures are proposed,such as establishing philosophy of "counter-cyclical regulation",relaxing regulation,reinforcing supervision,expanding marketing,encouraging business innovation.%证券公司综合治理前资产管理业务极不规范。综合治理为券商集合资产管理业务规范发展奠定了制度基础,集合资产管理业务重获新生,得到了很大发展。本文着重分析了券商集合资产管理业务发展中存在的规模弱小、运行效率不高、产品销售存在制约、产品发行与投资主流和市场运行存在偏差、风险管理与产品创新不够等问题,提出了树立"逆周期监管"理念,放松管制,加强监管,拓展营销,鼓励券商进行业务创新等推动集合资产管理业务持续健康发展的监管对策。

  15. Benefit-oriented Exploration of Fixed Assets Management Ways in Colleges and Universities%以效益为导向的高校固定资产管理方法初探

    Institute of Scientific and Technical Information of China (English)

    曾庆蓬

    2012-01-01

    It is the objective requirement with the development of social economic that the ways of management in colleges and universities must be developed towards the economic benefits. Meanwhile, we must pay attention to the social benefits in the management because of the quasi-public goods quality of colleges and universities. The management of fixed assets is the important part in colleges and universities. And the ultimate purpose of the fixed assets putting into use is to provide strong support for the teaching quality and scientific research, to obtain the benefits of running a school, include the economic benefits and social benefits. This paper is to analyse the current situation of low benefits, and tries to explore the effective ways in fixed assets management in colleges and universities according to the benefits, so that the management of fixed assets becomes scientific and benefic finally.%社会经济发展客观要求高校的管理方式要向着不断提高经济效益的方向发展,同时,由于高校的准公共产品性质,高校管理工作还应注重社会效益.高校的固定资产管理属于高校管理工作的重要组成部分,高校固定资产投入使用的最终目的是要保障教学质量和提高科研水平,是要切实取得良好的办学效益,包括“经济效益”和“社会效益”.以效益为导向,分析当前高校固定资产管理存在的低效益现状,并尝试探索固定资产管理的有效方法,最终实现固定资产管理的科学化、效益化.

  16. INTANGIBLE ASSETS – AN OPEN ISSUE

    Directory of Open Access Journals (Sweden)

    Cristina-Ionela Fadur

    2011-12-01

    Full Text Available We live in an ever more competitive, globalized world, in continuous technological evolution. Optimal resource management implies detailed knowledge on the value of intangible assets. In the present article, we aim to analyze the issue of intangible assets from the perspective of the Spanish accounting system, in order to identify the similarities and differences between it and the Romanian accounting system. The purpose of our approach is to complete the stage of knowledge concerning intangible capital – the hidden fortune of the new economy.

  17. Evaluating the Knowledge Assets of Innovative Companies

    Directory of Open Access Journals (Sweden)

    Maen Al-Hawari

    2002-11-01

    Full Text Available Knowledge has long been recognised as a valuable resource for organisational growth and sustained competitive advantage, especially for organisations competing in an uncertain environment (Miller & Shamsie 1987. In the current post-industrial society, knowledge is recognised as a primary source of a company’s wealth. However knowledge assets are much more difficult to identify and measure than are the physical assets with which we are much more familiar. (Boisot 1998 As a company’s innovative capacity may be dependent upon its ability to take advantage of its knowledge assets, it is important to be able to identify and measure those assets. While large companies can afford extensive knowledge management projects, there is a acute need for a method by which managers in smaller organisations can easily and reliably locate, quantify and compare their knowledge assets in order to maximise their potential for innovation. The paper will begin with an overview of current thinking on the topic of Knowledge Management (KM. It will then introduce the three functions of the knowledge life cycle (Bhatt 2000, Tan 2000, the four modes of conversion between tacit and explicit knowledge (Nonaka 1995 and the five knowledge enablers (Von Krogh 2000. The research, reported here, aims to identify, from the literature, a set of knowledge elements that will give a balanced view of knowledge assets across the four modes and five enablers. An integrated model, which is the result of research to date by the authors, will then be defined. This model combines the functions of the knowledge life cycle and Nonaka’s knowledge creation spiral with the notion of I-Space, which has been used to classify information across three dimensions, to form a new model of K-Space, which can be used to classify the knowledge elements. The paper will present this model and discuss the appropriateness of a set of knowledge elements as a means of measuring the knowledge asset of an

  18. Distributed charging of electrical assets

    Science.gov (United States)

    Ghosh, Soumyadip; Phan, Dung; Sharma, Mayank; Wu, Chai Wah; Xiong, Jinjun

    2016-02-16

    The present disclosure relates generally to the field of distributed charging of electrical assets. In various examples, distributed charging of electrical assets may be implemented in the form of systems, methods and/or algorithms.

  19. 《外包业务知识产权安全管理》简介%Managing Security in Outsourced and Off-shored Environments How to Safeguard Intellectual Assets in a Virtual Business World

    Institute of Scientific and Technical Information of China (English)

    钟华

    2010-01-01

    @@ 英国标准协会(BSI)近期出版了一本新书(Managing Security in Outsourced and Off-shored Environmems,How to Safeguard Intellectual Assets in a Virtual Business World).该书全面介绍了信息产业和服务业外包业务中的信息安全管理问题.对初涉该领域的读者,也同样可以从中获得丰富的实务知识.

  20. Risk analysis for critical asset protection.

    Science.gov (United States)

    McGill, William L; Ayyub, Bilal M; Kaminskiy, Mark

    2007-10-01

    This article proposes a quantitative risk assessment and management framework that supports strategic asset-level resource allocation decision making for critical infrastructure and key resource protection. The proposed framework consists of five phases: scenario identification, consequence and criticality assessment, security vulnerability assessment, threat likelihood assessment, and benefit-cost analysis. Key innovations in this methodology include its initial focus on fundamental asset characteristics to generate an exhaustive set of plausible threat scenarios based on a target susceptibility matrix (which we refer to as asset-driven analysis) and an approach to threat likelihood assessment that captures adversary tendencies to shift their preferences in response to security investments based on the expected utilities of alternative attack profiles assessed from the adversary perspective. A notional example is provided to demonstrate an application of the proposed framework. Extensions of this model to support strategic portfolio-level analysis and tactical risk analysis are suggested. PMID:18076495

  1. Modelling the Costs of Preserving Digital Assets

    DEFF Research Database (Denmark)

    Kejser, Ulla Bøgvad; Nielsen, Anders Bo; Thirifays, Alex

    2012-01-01

    Information is increasingly being produced in digital form, and some of it must be preserved for the longterm. Digital preservation includes a series of actively managed activities that require on-going funding. To obtain sufficient resources, there is a need for assessing the costs and the...... benefits accrued by preserving the assets. Cost data is also needed for optimizing activities and comparing the costs of different preservation alternatives. The purpose of this study is to analyse generic requirements for modelling the cost of preserving digital assets. The analysis was based on...... experiences from a Danish project to develop a cost model. It was found that a generic cost model should account for the nature of the organisation and the assets to be preserved, and for all major preservation activities and cost drivers. In addition, it should describe accounting principles. It was proposed...

  2. Technological breakthroughs and asset replacement

    OpenAIRE

    YATSENKO, Yuri; Hritonenko, Natali

    2008-01-01

    The authors analyze the optimal replacement of assets under continuous and discontinuous technological change. They investigate the variable lifetime of assets in an infinite-horizon replacement problem. Due to deterioration, the maintenance cost increases when the asset becomes older. Because of technological change, both maintenance and new capital costs decrease for a fixed asset age. The dynamics of the optimal lifetime is investigated analytically and numerically under tec...

  3. SIMPLE INNOVATION OF FINANCIAL ASSET

    Institute of Scientific and Technical Information of China (English)

    ZHANG Shunming

    2001-01-01

    This paper presents a simple two-period model of the innovationof financial asset by commission-revenue maximization exchange. The economic agents with meanvariance preferences take transaction costs in the process of trading the financial asset, the buying per-unit commission of the futures contract and the selling per-unit commission of the financial asset. The commission-revenue maximization exchange innovates financial asset.

  4. Asset returns and economic risk

    OpenAIRE

    Cesare Robotti

    2002-01-01

    The capital asset pricing model (CAPM), favored by financial researchers and practitioners fifteen years ago, holds that the extra return on a risky asset comes from bearing market risk only. But newer evidence supports the intertemporal CAPM (I-CAPM) theory (Merton 1973), which suggests that the premium on any risky asset is related not only to market risk but also to additional economic variables. ; This article reviews and interprets recent advances in the asset pricing literature. The stu...

  5. Equilibrium Asset Prices Under Imperfect Corporate Control

    OpenAIRE

    James Dow; Gary Gorton; Arvind Krishnamurthy

    2003-01-01

    Shareholders have imperfect ontrol over the decisions of the management of a firm. We integrate a widely accepted version of the separation of ownership and control -- Jensen's (1986) free cash flow theory--into a dynamic equilibrium model and study the effect of imperfect corporate control on asset prices and investment. We assume that firms are run by empire-building managers who prefer to invest all free cash flow rather than distributing it to shareholders. Sharefholders are aware of this...

  6. Asset securitization in Europe

    OpenAIRE

    Baums, Theodor

    1994-01-01

    Until the late 1980s, asset securitisation was an US-American finance technique. Meanwhile this technique has been used also in some European countries, although to a much lesser extent. While some of them have adopted or developed their legal and regulatory framework, others remain on earlier stages. That may be because of the lack of economic incentives, but also because of remaining regulatory or legal impediments. The following overview deals with the legal and regulatory environment in f...

  7. Pricing Volatility Referenced Assets

    OpenAIRE

    Alan De Genaro Dario

    2006-01-01

    Volatility swaps are contingent claims on future realized volatility. Variance swaps are similar instruments on future realized variance, the square of future realized volatility. Unlike a plain vanilla option, whose volatility exposure is contaminated by its asset price dependence, volatility and variance swaps provide a pure exposure to volatility alone. This article discusses the risk-neutral valuation of volatility and variance swaps based on the framework outlined in the Heston (1993) st...

  8. Intermediary Asset Pricing

    OpenAIRE

    Arvind Krishnamurhty; Zhiguo He

    2013-01-01

    We present a model to study the dynamics of risk premia during crises in asset markets where the marginal investor is a financial intermediary. Intermediaries face a constraint on raising equity capital. When the constraint binds, so that intermediaries' equity capital is scarce, risk premia rise to reflect the capital scarcity. We calibrate the model and show that it does well in matching two aspects of crises: the nonlinearity of risk premia during crisis episodes; and, the speed of adjustm...

  9. Asset pricing without garbage

    OpenAIRE

    Kroencke, Tim Alexander

    2013-01-01

    This paper provides an explanation why garbage as a measure of consumption implies a several times lower coefficient of relative risk aversion in the consumption-based asset pricing model than consumption based on the official National Income and Product Ac- counts (NIPA): Unlike garbage, NIPA consumption is filtered to mitigate measurement error. I apply a structural model of the filtering process, which allows to revoke the filter inherent in NIPA consumption. "Unfiltered NIP...

  10. Accounting treatment of intangible assets

    OpenAIRE

    Gorgieva-Trajkovska, Olivera; Koleva, Blagica; Georgieva Svrtinov, Vesna

    2015-01-01

    The accounting for fixed assets is, in many cases, a straightforward exercise, but it isn’t always so when it comes to the issue of intangible fixed assets and recognizing such assets on the balance sheet. IAS 38, In¬tan¬gi¬ble Assets, outlines the accounting re¬quire¬ments for in¬tan¬gi¬ble assets, which are non-mon¬e¬tary assets which are without physical substance and iden¬ti¬fi¬able (either being separable or arising from con¬trac¬tual or other legal rights). In¬tan¬gi¬ble assets meeting ...

  11. Active Portofolio Management in the Presence of Regime Switching: What Are the Benefits of Defensive Asset Allocation Strategies If the Investor Faces Bear Markets?

    Directory of Open Access Journals (Sweden)

    Klaus Grobys

    2012-06-01

    Full Text Available This paper studies the asset allocation decision in the presence of regime switchingin stock market returns. The analysis is based on two stock indices: DJI 30 and OMX30. The two-step optimization procedure employed points towards the usage of defensiveasset allocation strategies under bear markets and ordinary index tracking strategies underbull markets. The out-of-sample experiments strengthen the performance of active strategiesthat distinguish between different regimes. Moreover, the Sharpe ratios of portfolios basedon such strategies are higher than the ones of ordinary index tracking based portfolios.

  12. Default Risk Management for Credit Asset Securitization Based on Structural Model%基于结构化模型的信贷资产证券化违约风险管理

    Institute of Scientific and Technical Information of China (English)

    刘洪

    2012-01-01

    日前,停滞4 a多的信贷资产证券化正式重启,首期信贷资产证券化额度500亿元;我国于2005年便开始了信贷资产证券化的试点,之后由于美国次贷危机出现了暂停,本次重启可以看成是对平台贷款的一次创新,但证券化过程本身也面临着很多的问题,其中对违约风险的管理尤为重要;主要描述了当前证券化过程面临的主要问题,并着重提出预测违约率的结构化方法,并在最后提出了几点利于证券化改革的政策建议。%Currently credit asset securitization is formally reinitiated after four years standstill and the amount of the first securitized credit assets is 50 billion RMB yuan. China began to practice pilot credit asset securitization in 2005 but the experiment temporarily stopped after America subprime mortgage crisis emergence. The re-initiation of the securitization can be regarded as a innovation for loan platform, however, the securitization process itself faces many problems, among which the management of default risk is most important. This paper mainly describes the central problems faced by current securitization process, emphatically points out structural method for forecasting default rate and finally advances several suggestions for helping the securitization reform.

  13. Real Assets and Inflation: Which Real Assets Hedge Inflation

    OpenAIRE

    Parajuli, Rajan; Chang, Sun Joseph

    2015-01-01

    Inflation is considered as a leading macroeconomic indicator, which might create substantial distortions in financial statements, future earnings, and overall performance of securities in the financial market. An inflation-hedging ability of an asset offers protection against inflation, which eliminates or at least reduces the uncertainty about the future real returns. Real assets like real estate, timberland, and farmland have been regarded as good inflation hedges, whereas financial assets ...

  14. Pricing Volatility Referenced Assets

    Directory of Open Access Journals (Sweden)

    Alan De Genaro Dario

    2006-12-01

    Full Text Available Volatility swaps are contingent claims on future realized volatility. Variance swaps are similar instruments on future realized variance, the square of future realized volatility. Unlike a plain vanilla option, whose volatility exposure is contaminated by its asset price dependence, volatility and variance swaps provide a pure exposure to volatility alone. This article discusses the risk-neutral valuation of volatility and variance swaps based on the framework outlined in the Heston (1993 stochastic volatility model. Additionally, the Heston (1993 model is calibrated for foreign currency options traded at BMF and its parameters are used to price swaps on volatility and variance of the BRL / USD exchange rate.

  15. Heterogeneity of Intellectual Assets

    DEFF Research Database (Denmark)

    Dahlgren, Johan Henrich; Lund Jensen, Rasmus; Valentin, Finn

    2004-01-01

    This paper deals with methodological issues of assessing the composition and level ofheterogeneity of firms' intellectual assets. It develops an original metric - referred to asthe H-index - for measuring heterogeneity using data extracted from patent documents.The main purpose is to improve the...... characterisation of research activities within firmsin the biotechnology sector. Although the H-index grew out of research on biotechfirms, the metric carries broader relevance for all patent-intensive industries. Themeasurement and calculation of the H-index is illustrated using some empiricalexamples from our...

  16. Pemilihan Model Asset Pricing

    OpenAIRE

    Pasaribu, Rowland Bismark Fernando

    2010-01-01

    The Capital Asset Pricing Model (CAPM) has dominated finance theory for over thirty years; it suggests that the market beta alone is sufficient to explain stock returns. However evidence shows that the cross-section of stock returns cannot be described solely by the one-factor CAPM. Therefore, the idea is to add other factors in order to complete the beta in explaining the price movements in the stock exchange. The Arbitrage Pricing Theory (APT) has been proposed as the first multifactor succ...

  17. FY95 capital asset implementation plan

    International Nuclear Information System (INIS)

    The Waste Isolation Division (WID) is committed to providing good stewardship for the capital assets under its operational and physical control. To achieve this goal, the WID has developed the Capital Asset Implementation Plan (CAIP) to continue to implement for FY95 Department of Energy (DOE) Order 4320.2A, Capital Asset Management Process (CAMP). The Order provides policy and elements needed to establish a credible, consistent, auditable, and technically sound process for the DOE to forecast, plan, and budget for capital assets on a functional unit level. The objective of the WIPP CAMP program is to meet the goals of DOE Order 4320.2A in the most effective and efficient manner possible in support of the Waste Isolation Pilot Plant (WIPP) mission. As a result, this CAIP provides a way to implement the CAMP Program using a graded approach. Continued implementation will be accomplished by improving the existing process, and establishing future goals to promote growth for the CAMP Program. The CAIP is issued annually by the WID with quarterly progress reports submitted to the DOE. This document describes the current-year program staffing, roles, responsibilities, funding, and near-term milestones. In addition, the results of past goals are discussed

  18. Liquidity and asset market dynamics

    OpenAIRE

    Guillaume Rocheteau; Randall Wright

    2010-01-01

    We study economies with an essential role for liquid assets in transactions. The model can generate multiple stationary equilibria, across which asset prices, market participation, capitalization, output and welfare are positively related. It can also generate a variety of nonstationary equilibria, even when fundamentals are deterministic and time invariant, including periodic, chaotic, and stochastic (sunspot) equilibria with recurrent market crashes. Some equilibria have asset price traject...

  19. Asset Prices and Institutional Investors

    OpenAIRE

    Basak, Suleyman; Pavlova, Anna

    2013-01-01

    Empirical evidence indicates that trades by institutional investors have sizable effects on asset prices, generating phenomena such as index effects, asset-class effects and others. It is difficult to explain such phenomena within standard representative-agent asset pricing models. In this paper, we consider an economy populated by institutional investors alongside standard retail investors. Institutions care about their performance relative to a certain index. Our framework is tractable, adm...

  20. 供电企业的资产全寿命周期管理评价指标体系构建%Evaluation Index System of Asset Life Cycle Management for Power Supply Enterprises

    Institute of Scientific and Technical Information of China (English)

    李彩萍; 李金鹏; 岳超源; 吴相林

    2011-01-01

    Based on the analysis of the evaluation index system of assets life cycle management for the National Grid Company, and with regard to the present situation of the domestic power grid assets' management, this paper proposed a new evaluation index system for power supply enterprise's assets life cycle management, which contains four phases( research plan, preliminary design of purchasing construction, operation maintenance, discarding and retire- ment) and covers three aspects of safety, efficiency and life cycle cost. The proposed system includes 22 indices, each of which is applicable for a specific cycle stage and is illustrated respectively by the evaluation cases.%在分析和借鉴国家电网公司资产全寿命周期管理评价指标体系的基础上,结合电网资产管理的内容和特点,提出适用于供电企业的包括规划可研、初设采购建设、运行维护和退役报废四个阶段的资产全寿命周期管理评价指标体系。该指标体系涵盖安全、效能和周期成本三方面,共包含22个指标,且各指标都有明显的适用周期阶段。对各指标作简要分析并给出评价实例。

  1. Liquid Asset Ratios and Financial Sector Reform

    OpenAIRE

    Anne Marie Gulde

    1997-01-01

    As a monetary, selective credit, and government debt-management instrument, a liquid asset ratio is generally inefficient and may introduce serious distortions. However, it may play a limited role as a prudential instrument, particularly in less sophisticated banking systems or in the context of currency board arrangements. Recent trends in the use of this instrument have been to either abolish it altogether or to design it so as to minimize distortions. When necessary, these changes have bee...

  2. Stochastic Dominance Portfolio Analysis of Forestry Assets

    OpenAIRE

    V.-P. Heikkinen; & Timo Kuosmanen

    2002-01-01

    We consider the forestry decision-making and harvesting problem from the perspective of financial portfolio management, where harvestable forest stands constitute one of the liquid assets of the portfolio. Using real data from Finnish mixed borealis forests and from the Helsinki stock exchange, we investigate the effect of trading the timber stock together with the forest land, or without the land (i.e., harvesting), on the portfolio efficiency. As our research methodology, we utilize the gen...

  3. Studying the effect of assets return rate on stock price of the companies accepted in Tehran stock exchange

    OpenAIRE

    Parviz Saeidi; Abolghasem Okhli

    2012-01-01

    One of the criteria to evaluate management ability of a company to gain return is assets return rate, with regard to existing resources. Management is expected to use the current assets so that the maximum return is gained. The present study aims at investigating assets return rate impact on stock prices of the companies accepted in Tehran stock exchange. In this research, assets return rate is considered as independent variable,...

  4. Software asset management and its implementation based on Chinese information technology services standard%软件资产管理及其基于ITSS原理的实施

    Institute of Scientific and Technical Information of China (English)

    杜兴盛

    2013-01-01

    This paper aimed to improve the percentage of organizational software's legalization,to enhance compliance of organizational software,reduce legal risks,and solve the problem relating to the rationalization of software investment.This research aimed at scientific methods to improve lifecycle management capabilities of organizational software,and was based on domestic practice of Software Asset Management (SAM) and International Organization for Standardization/International Electrotechnical Commission 19770 (ISO /IEC 19770),combined relevant research of Chinese Information Technology Services Standard (ITSS) aiming at Chinese Information Technology (IT) industry to analyze ITSS core principles,the contents SAM stakeholders concerning about,and to clarify SAM's concept,purpose and characteristics.This paper gave the main method of SAM implementation and the maturity model of evaluation,which not only meet the consistency of organization's asset management,but also meet the unique nature of the financial management,material management and available state management.The organization was promoted through SAM,and the organizational compliance was improved and legal risks and costs were reduced.%针对如何提高组织软件正版化率、提升组织的软件合规、降低法律风险、合理化的软件投入的问题,研究旨在提高组织软件全生命周期管理能力的科学方法,基于软件资产管理(SAM)国内实践以及ISO/IEC 19770的相关标准,结合中国信息技术服务标准体系(ITSS)对中国信息技术产业现状进行的相关研究,分析ITSS核心原理、SAM相关方关注内容,明确SAM的概念、目的以及特点,给出了实施SAM的主要方法以及评价的成熟度模型,实现SAM既要满足组织资产管理的一致性,又有贯穿财务管理、实物管理及对其可用状态的管理的独特性,并能够真正让组织从中获得提升,解决提高组织合规、降低法律风险和费用的问题.

  5. Asset Stocks and Sustained Competitive Advantage: A Comment

    OpenAIRE

    Jay B. Barney

    1989-01-01

    In their paper, Dierickx and Cool suggest that the strategic factor markets model developed in Barney (Barney, J. B. 1986a. Strategic factor markets: Expectations, luck, and business strategy. Management Sci. (October) 1231--1241.) cannot be applied in the analysis of sustained competitive advantages due to asset stocks accumulated over time. In this comment, it is shown that the discussion of asset stocks extends and complements, rather than limits, the strategic factor markets model. This i...

  6. Essays in Financial Econometrics, Asset Pricing and Corporate Finance

    OpenAIRE

    Pelger, Markus

    2015-01-01

    My dissertation explores how tail risk and systematic risk affects various aspects of risk management and asset pricing. My research contributions are in econometric and statistical theory, in finance theory and empirical data analysis. In Chapter 1 I develop the statistical inferential theory for high-frequency factor modeling. In Chapter 2 I apply these methods in an extensive empirical study. In Chapter 3 I analyze the effect of jumps on asset pricing in arbitrage-free markets. Chapter 4 d...

  7. Packaging Software Assets for Reuse

    Science.gov (United States)

    Mattmann, C. A.; Marshall, J. J.; Downs, R. R.

    2010-12-01

    The reuse of existing software assets such as code, architecture, libraries, and modules in current software and systems development projects can provide many benefits, including reduced costs, in time and effort, and increased reliability. Many reusable assets are currently available in various online catalogs and repositories, usually broken down by disciplines such as programming language (Ibiblio for Maven/Java developers, PyPI for Python developers, CPAN for Perl developers, etc.). The way these assets are packaged for distribution can play a role in their reuse - an asset that is packaged simply and logically is typically easier to understand, install, and use, thereby increasing its reusability. A well-packaged asset has advantages in being more reusable and thus more likely to provide benefits through its reuse. This presentation will discuss various aspects of software asset packaging and how they can affect the reusability of the assets. The characteristics of well-packaged software will be described. A software packaging domain model will be introduced, and some existing packaging approaches examined. An example case study of a Reuse Enablement System (RES), currently being created by near-term Earth science decadal survey missions, will provide information about the use of the domain model. Awareness of these factors will help software developers package their reusable assets so that they can provide the most benefits for software reuse.

  8. Analysis of Asset Classes Through the Business Cycle

    Directory of Open Access Journals (Sweden)

    Audrius Dzikevičius

    2012-06-01

    Full Text Available This study was driven by the dissimilar performance characteristics displayed by asset classes over the business cycle. The authors aim to explore assets classes on the grounds of a scientific literature review and a statistical analysis. Business cycles are divided into four stages to explore broad movements in returns of asset classes and a possible existence of asymmetrical effects of determinants within stages. Six main asset classes were analysed: US stocks, EAFE stocks, Bonds, Gold, Real Estate and Commodities. Monthly data from February 1976 to August 2011 were used for the study. The article combines business cycle and asset allocation theories by adding valuable information about performance of asset classes during different phases of the business cycle. Using the OECD Composite Leading Indicator as a business cycle measure, the authors demonstrate that different assets classes have different return/risk characteristics over the business cycle. The article demonstrates how to use the business cycle approach for investment decision-making. The OECD Composite Leading Indicator can provide significant information on market expectations and the future outlook; hence, results of this study can help every investor improve his/her performance and risk management.

  9. 75 FR 16843 - Prohibited Transaction Exemptions Grant of Individual Exemptions Involving: 2010-09, Ivy Asset...

    Science.gov (United States)

    2010-04-02

    ...: 2010-09, Ivy Asset Management Corporation, D-11492; 2010-10, Deutsche Bank AG and Its Affiliates, D... (55 FR 32836, 32847, August 10, 1990) and based upon the entire record, the Department makes the... the participants and beneficiaries of the plan. Ivy Asset Management Corporation Located in...

  10. DESIGN AND IMPLEMENTATION OF UNIVERSITY ASSETS AND LABS INTEGRATED MANAGEMENT PLATFORM BASED ON B/S AND C/S COLLABORATIVE SERVICES%基于B/S与C/S协同服务的高校资产与实验室综合管理平台的设计实现

    Institute of Scientific and Technical Information of China (English)

    姜吉婷; 韩勇; 张小垒; 陈戈

    2014-01-01

    The thesis thoroughly investigates how to utilize B/S and C /S collaborative service technology to design and implement a plat-form for university assets management department to integratedly manage assets and labs.It comprehensively utilizes WPF,SilverLight,WCF service and other technologies to carry out system's collaborative architecture design.By combining a number of technologies,it implements an integrated business office platform to provide quick and convenient services for university routine assets management so as to solve the disorder and low-efficiency of university assets management situation at present,thus enabling university fixed assets management level to take another step upward,heading towards a new scientization,technologization and informatization stage.%深入研究如何通过 B/S、C /S 协同服务技术设计并实现一个可供高校资产管理部门对资产以及实验室进行综合管理的平台。结合使用 WPF(Windows Presentation Foundation)、SliverLight、WCF(Windows Communication Foundation)服务等技术进行系统的协同架构设计。通过多种技术的结合,实现一个屏蔽各种技术之间差异、可为高校日常的资产管理提供快速便捷服务的综合业务办公平台,解决当前高校资产管理混乱、效率低下的现状,使高校固定资产管理水平再上新台阶,迈向科技化、信息化新阶段。

  11. Do strong brands pay off? An empirical investigation of the relation between brand AssetTM valuator and financial performance

    OpenAIRE

    Frank Verbeeten; Pieter Vijn

    2006-01-01

    In this study, we investigate the relation between BrandAsset ™ Valuatorand financial performance measures. More specifically, we investigate whether pillars of the BrandAssetTM Valuatormodel (Brand Vitality and Brand Stature) are associated with accounting performance (return on investment, return on sales and sales over total assets). Brands are generally considered a large part of the intangible assets of companies, yet the economic consequences of brand management are often difficult to e...

  12. Do strong brands pay off? : An empirical investigation of the relation between brand asset valuator and financial performance

    OpenAIRE

    Verbeeten, F.H.M.; Vijn, P.

    2006-01-01

    In this study, we investigate the relation between BrandAssetTM Valuatorand financial performance measures. More specifically, we investigate whether pillars of the BrandAssetTM Valuatormodel (Brand Vitality and Brand Stature) are associated with accounting performance (return on investment, return on sales and sales over total assets). Brands are generally considered a large part of the intangible assets of companies, yet the economic consequences of brand management are often difficult to e...

  13. The Enlightenment of Post-modernism on Administrative Institutions’Assets Management%浅论后现代主义对行政事业单位资产管理的启示

    Institute of Scientific and Technical Information of China (English)

    赵萍

    2013-01-01

    Post-modernism is a trend of thought emerging in 1960s in the west,which has a great impact on humanities,and management science.Under its influence,post-modern public administration theory was formed in 1990s.It also introduced new ideas and set new directions for public administration,enlightening us in the administrative institutions assets management.%后现代主义是20世纪60年代在西方兴起的一种思潮,它对人文科学、和管理科学等都产生了很大的影响。在它的影响下,20世纪90年代形成了后现代公共行政理论,并给公共行政管理带来了新的思维和发展方向,促使人们就行政事业单位资产管理思维方式转变等方面获得启迪。

  14. Security: a supranational legal asset

    OpenAIRE

    Manuel Monteiro Guedes Valente

    2012-01-01

    This paper discusses the concept of security as a manysided, multifunctional and multilevel regulation topology which requires its several actors to view legal assets from a polygonal perspective worthy of legal protection from local to global and from global to local space. The concept of security as a supranational legal asset requires criminal legislation which defines the principles of criminal policy and the intervention of criminal Law, barriers to security trends and to the attempt to ...

  15. Valuation Risk and Asset Pricing

    OpenAIRE

    Rui Albuquerque; Martin S. Eichenbaum; Sergio Rebelo

    2012-01-01

    Standard representative-agent models have difficulty in accounting for the weak correlation between stock returns and measurable fundamentals, such as consumption and output growth. This failing underlies virtually all modern asset-pricing puzzles. The correlation puzzle arises because these models load all uncertainty onto the supply side of the economy. We propose a simple theory of asset pricing in which demand shocks play a central role. These shocks give rise to valuation risk that allow...

  16. Portfolio Choice with Illiquid Assets

    OpenAIRE

    Koren, Miklós; Szeidl, Adam

    2003-01-01

    The present Paper investigates the effects of incorporating illiquidity in a standard dynamic portfolio choice problem. Lack of liquidity means that an asset cannot be immediately traded at any point in time. We find the portfolio share of financial wealth invested in illiquid assets given the liquidity premium. Benchmark calibrations imply a portfolio share of 2-6% in cash. These numbers are in line with survey data and also with portfolio recommendations by practitioners. We also find that ...

  17. Asset Accumulation and Family Size

    OpenAIRE

    Smith, James P; Ward, Michael P.

    2004-01-01

    Utilizing panel data on families, estimates are made of the effects of children on asset accululation, asset composition, consumption, and family income. Young children are found to depress savings for young families but to increase savings for marriages of duration greater than five years. The principal channel through which children act to reduce savings is the decline in female earnings associated with the child- induced withdrawal of wives from the labor force. Family consumption actually...

  18. Asset Allocation in Transition Economies.

    OpenAIRE

    Jondeau, E.; Rockinger, M.

    2002-01-01

    Designing an investment strategy in transition economies is a difficult task, because stock markets opened through time, time series are short, and there is little guidance how to obtain expected returns and covariance matrices necessary for mean-variance asset allocation. Moments of market returns can be expected to be time varying as structural changes occur in nascent market economies. We develop an ad-hoc optimal asset-allocation strategy with a flavor of Bayesian learning adapted to thes...

  19. IAEA-TECDOC ASSET Guidelines

    International Nuclear Information System (INIS)

    The ASSET programme provides an international mechanism for determining procedures to prevent incidents and accidents in nuclear facilities. The programme deals with, and critically assesses, analyses of incidents and accidents, provides instructions at a general level and gives suggestions and recommendations aimed at increasing the operating nuclear safety standard. ASSET guidelines and regulations are intended to ensure consistency in the application of the team's analytical methods. They serve systematic inspection and help gaining insight into any relevant problem. (M.D.). Diagrams

  20. Multifactor Capital Asset Pricing Models

    OpenAIRE

    Warmuth, Niels Jakob

    2014-01-01

    In this dissertation I deal with three aspects of asset pricing. First, I analyze international bank stock returns and show the existence of a bank specific industry effect. Second, I explain parts of the size and the value factor of the Fama-French model by default and disaster risk. Third, I develop a new rational inattention based model for asset pricing and with the help of this model I challenge the notion of market efficiency by a concept of attention driven efficiency.

  1. Updating Fixed Production Assets: Incentive Tools

    Directory of Open Access Journals (Sweden)

    Maria P. Merzlova

    2014-11-01

    Full Text Available Based on an analysis of national statistics on the structure and condition fixed production assets of Russiancompanies identified disparities in the structure of the fixed assets in Russia, as well as a high degree of wear andtear, (about 50%. In the study, the reasons for the poor state of basic production assets and identify opportunitiesto overcome the problem of low investment activity of domestic enterprises in the modernization of productionis determined that one of the main constraints is the current tax system and the associated high cost of investment.Determined that under the tax laws do not give preferences to the expected positive effect, because it does nothave a significant impact on reducing the cost of acquisition of machinery and equipment due to the highproportion of it indirect taxes (VAT, duties, which reduces the investment business opportunities at the sametime holding back the development of domestic engineering and construction industry, which are created and thebasic production assets (active and passive parts of them. As stimulus measures proposed substantial cuts inVAT and duties, and in high-tech equipment in strategic industries - complete their cancellation. Dropping out inconnection with this budget revenues at the initial stage may compensate by increasing excise taxes on certainproducts that are detrimental to public health (alcohol and tobacco, increased taxation on the export of capital.As a non-tax instruments to promote development of the proposed technical outsourcing (after-sales service ofprocess equipment, the use of which will provide the companies who invest in technological renovation ofproduction, significant cost savings by reducing the costs associated with the content in the state of highlyspecialized staff and simplify the process of enterprise management . The enterprises of mechanical engineeringwill be able to sustainable development and establishing long-term business relationships with client

  2. 31 CFR 597.302 - Assets.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Assets. 597.302 Section 597.302 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) OFFICE OF FOREIGN ASSETS... Definitions § 597.302 Assets. The term assets includes, but is not limited to, money, checks, drafts,...

  3. 7 CFR 1773.40 - Regulatory assets.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Regulatory assets. 1773.40 Section 1773.40... § 1773.40 Regulatory assets. The CPA's workpapers must document whether all regulatory assets comply with... whether all regulatory assets have received RUS approval....

  4. Safeguarding information as an asset: Do we need a redefinition in the knowledge economy and beyond?

    Directory of Open Access Journals (Sweden)

    Adeniji K. Adesemowo

    2016-04-01

    with regard to information risk and internal controls.Conclusion: This article has identified a major defect in most standards, frameworks, and regulations dealing with regard to the safeguarding and management of information assets (and IT assets. It has established from the review carried out that information assets have not been properly defined across the board. Beyond this significant finding, it was further shown that the principle of risk (assessment across the board requires the identification of the asset that needs to be controlled. A starting point, then, is a coherent definition (as proposed for the information asset in itself. Therefore, proper definition across the board might assists in proper identification that could result in appropriate control and graceful handling of the end-of-life disposal.Keywords: infonomics; information asset; information risk; internal control; reputation loss

  5. The instrument of asset securitization on the basis of investment funds

    OpenAIRE

    O.S. Novak

    2015-01-01

    This article explores the instruments of asset securitization on the basis of investment funds According to the proposed national model of asset securitization on the basis of investment funds developed the financial instruments, which provide its implementation. Depending on the opportunities the payment management proposed to service the operations of asset securitization by investment certificates with replenishment and without the possibility of replenishment. The use of financial instrum...

  6. Asset Class Diversification and Delegation of Responsibilities between Central Banks and Sovereign Wealth Funds

    OpenAIRE

    Aizenman, Joshua; Reuven GLICK

    2010-01-01

    This paper presents a model comparing the optimal degree of asset class diversification abroad by a central bank and a sovereign wealth fund. We show that if the central bank manages its foreign asset holdings in order to meet balance of payments needs, particularly in reducing the probability of sudden stops in foreign capital inflows, it will place a high weight on holding safer foreign assets. In contrast, if the sovereign wealth fund, acting on behalf of the Treasury, maximizes the expect...

  7. 12 CFR 567.12 - Purchased credit card relationships, servicing assets, intangible assets (other than purchased...

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Purchased credit card relationships, servicing assets, intangible assets (other than purchased credit card relationships and servicing assets), credit... credit card relationships, servicing assets, intangible assets (other than purchased credit...

  8. Water as an Asset Class (Revised Version)

    OpenAIRE

    B. Michael Gilroy; Heike Schreckenberg; Volker Seiler

    2013-01-01

    As correlations of asset returns increased and diversification effects vanished during the financial crisis, the search for new and potentially uncorrelated asset classes gains importance. As a result, several asset classes have been analyzed by academics in order to determine their diversification properties. In this article we take a closer look at water as an asset and its potential diversification benefits. Water as an alternative asset improves a traditional stock and bond portfolio. Tho...

  9. Financing asset sales and business cycles

    OpenAIRE

    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...

  10. Model for equipment life-cycle cost forecasting and its application in assets management in the oil industry; Modelo para previsao de custo de ciclo de vida de equipamentos e sua aplicacao na gestao de ativos na industria do petroleo

    Energy Technology Data Exchange (ETDEWEB)

    Cesca, Igor Gimenes; Elias Junior, Antonio; Carvalho, Marcos Henrique [Universidade Estadual de Campinas (DEP/FEM/UNICAMP), SP (Brazil). Dept. de Engenharia de Petroleo; Lima, Gabriel Alves da Costa [Centro de Estudos de Petroleo (CEPETRO/UNICAMP), SP (Brazil)

    2012-07-01

    In the area of oil exploration and production (E and P), knowing the behavior of the equipment in their life cycles becomes even more important than in other industries due to: 1) high cost and 2) severity in terms of requirements safety. The purchase of equipment should not be decided only at the initial cost, but through the life cycle cost (LCC). This paper presents a study to find the cost over the life cycle of a group of equipment used in the petroleum industry by methods of dynamic programming, as well as a discussion on how to use such information in assets management in order to obtain better financial indicators. The main causes of variation in the useful economic life of equipment is the resale value and maintenance costs. Thus, it is possible to avoid high expenditure on maintenance costs and avoid an excessive depreciation of the equipment. So it is possible to conclude that the more intense the depreciation of value, the greater the useful economic life. For maintenance costs, the more intense are the costs, the lower the useful economic life. (author)

  11. Tactical Asset Management or Financial Trauma?: Why the Abandonment of Buy-and-Hold May be a Symptom of Posttraumatic Stress

    Directory of Open Access Journals (Sweden)

    Bradley T Klontz

    2012-12-01

    Full Text Available

    The purpose of this study was to measure the psychological impact of the 2008 financial crisis on financial planners. Recent surveys of financial advisors have confirmed a fundamental shift away from strategic management in favor of tactical management, with planners reporting having had made on average 2.15 adjustments in the past 12 months to take advantage of market changes (FPA 2012 Trends in Investing Study, 2012, and 83% of financial planners planning to make at least one tactical adjustment within the next three months (Veres, 2012. This article explores the psychological impact of the 2008 financial crisis on financial planners, measuring symptoms of posttraumatic stress and related changes in belief systems as a result of the crisis. In the months following the 2008 crisis, 93% of the planners surveyed reported medium to high levels of posttraumatic stress. We hypothesize that while the acute psychological distress has diminished the cognitive changes have persisted and may ultimately put the financial health of clients at risk.

  12. ASSET guidelines. Revised 1991 Edition

    International Nuclear Information System (INIS)

    The present publication is an updated version of the IAEA Assessment of Safety Significant Events Team (ASSET) Guidelines, IAEA-TECDOC-573, published in 1990. Sections 5 and 6 include revised definitions and investigation guidelines for identification of both direct and root causes. These revisions were recommended by a Consultants Meeting held in Vienna on 3-7 December 1990. This guidance is not intended to infringe an expert's prerogative to investigate additional items. Its main purpose is to provide a basic structure and ensure consistency in the assessments. Use of the ASSET guidelines should also facilitate comparison between the observations made in different nuclear power plants and harmonize the reporting of generic ASSET results. The guidelines should always be used with a critical attitude and a view to possible improvements

  13. Space assets for demining assistance

    Science.gov (United States)

    Kruijff, Michiel; Eriksson, Daniel; Bouvet, Thomas; Griffiths, Alexander; Craig, Matthew; Sahli, Hichem; González-Rosón, Fernando Valcarce; Willekens, Philippe; Ginati, Amnon

    2013-02-01

    Populations emerging from armed conflicts often remain threatened by landmines and explosive remnants of war. The international mine action community is concerned with the relief of this threat. The Space Assets for Demining Assistance (SADA) undertaking is a set of activities that aim at developing new services to improve the socio-economic impact of mine action activities, primarily focused on the release of land thought to be contaminated, a process described as land release. SADA was originally initiated by the International Astronautical Federation (IAF). It has been implemented under the Integrated Applications Promotion (IAP) program of the European Space Agency (ESA). Land release in mine action is the process whereby the demining community identifies, surveys and prioritizes suspected hazardous areas for more detailed investigation, which eventually results in the clearance of landmines and other explosives, thereby releasing land to the local population. SADA has a broad scope, covering activities, such as planning (risk and impact analysis, prioritization, and resource management), field operations and reporting. SADA services are developed in two phases: feasibility studies followed by demonstration projects. Three parallel feasibility studies have been performed. They aimed at defining an integrated set of space enabled services to support the land release process in mine action, and at analyzing their added value, viability and sustainability. The needs of the mine action sector have been assessed and the potential contribution of space assets has been identified. Support services have been formulated. To test their fieldability, proofs of concept involving mine action end users in various operational field settings have been performed by each of the study teams. The economic viability has also been assessed. Whenever relevant and cost-effective, SADA aims at integrating Earth observation data, GNSS navigation and SatCom technologies with existing

  14. 77 FR 52887 - Regulatory Capital Rules: Standardized Approach for Risk-Weighted Assets; Market Discipline and...

    Science.gov (United States)

    2012-08-30

    ... ; Karl Reitz, Chief, Capital Markets Strategies Section, kreitz@fdic.gov , Division of Risk Management... determine risk- weighted asset amounts. B. Risk-weighted Assets for General Credit Risk. A description of... description of the requirement to assign higher risk weights to certain commercial real estate exposures....

  15. Risk Exposure and Net Flow in Investment Funds: Do Shareholders Monitor Asset Allocation?

    Directory of Open Access Journals (Sweden)

    Rafael Felipe Schiozer

    2014-03-01

    Full Text Available This study investigates the impact of asset allocation on the net flow of fixed income funds in the Brazilian market, by exploiting the exogenous variation in the risk perception of bank liabilities (CDs caused by the financial turmoil that followed Lehman Brothers’ demise in September 2008. The central hypothesis is that the exposure to assets negatively affected by the crisis impacts negatively the fund’s net flow. We find that, for mutual funds, the larger proportion of assets negatively affected by the crisis the larger the net outflow of resources, indicating that shareholders monitor asset allocation and exert disciplining power on fund managers by withdrawing their resources. In exclusive (fundos exclusivos, i.e., funds with a single shareholder, for which the shareholder is presumed to exert more influence on asset reallocation, we find no significant relationship between the exposure to assets negatively affected by the crisis and net flows.

  16. Saving-Based Asset Pricing

    DEFF Research Database (Denmark)

    Dreyer, Johannes Kabderian; Schneider, Johannes; T. Smith, William

    2013-01-01

    This paper explores the implications of a novel class of preferences for the behavior of asset prices. Following a suggestion by Marshall (1920), we entertain the possibility that people derive utility not only from consumption, but also from the very act of saving. These ‘‘saving-based’’ prefere......This paper explores the implications of a novel class of preferences for the behavior of asset prices. Following a suggestion by Marshall (1920), we entertain the possibility that people derive utility not only from consumption, but also from the very act of saving. These ‘‘saving...

  17. Asset Pricing with Liquidity Risk

    OpenAIRE

    Acharya, Viral V; Lasse Heje Pedersen

    2004-01-01

    This Paper solves explicitly a simple equilibrium asset pricing model with liquidity risk – the risk arising from unpredictable changes in liquidity over time. In our liquidity-adjusted capital asset pricing model, a security’s required return depends on its expected liquidity as well as on the covariances of its own return and liquidity with market return and market liquidity. In addition, the model shows how a negative shock to a security’s liquidity, if it is persistent, results in low con...

  18. Radio-Frequency Identification: Asset Control at Your Fingertips

    Science.gov (United States)

    Scholes, Marcus

    2009-01-01

    Times are tough for everyone, including public school districts. During the past decade, school districts have faced the dual challenges of tightening budgets and increasing fiscal responsibility and oversight. Many school districts have found a way to manage their assets, reduce staff requirements, increase accountability, and save money on…

  19. Note--The Capital Asset Pricing Model and Strategic Planning

    OpenAIRE

    Birger Wernerfelt

    1985-01-01

    We make two clarifying comments on a recent paper by Naylor and Tapon (Naylor, T. H., F. Tapon. 1982. The capital asset pricing model: An evaluation of its potential as a strategic planning tool. Management Sci. 28 1166-1173.). The conclusions of their paper are significantly affected by this.

  20. Financial Assets'Fair Value Measurement and Earnings Management---An Empirical Analysis Based on 2007-2010 A-share companies%金融资产公允价值计量与盈余管理关系研究--基于2007-2010年上市公司的经验证据

    Institute of Scientific and Technical Information of China (English)

    李梦雪

    2014-01-01

    This paper has taken the companies which have the changes in fair value in 2007-1010 years' annual report as a sample, and tests the relationship between investment income of financial assets and earnings management. It shows that: The listed companies use the time of selling investment income to conduct earnings management. But relative to the tradable financial assets, managers prefer to use the available for sale financial assets for earnings management. Based on the above research results, it is recommended that the two types of assets are identified as the fair value of the changes in the current profits and losses, timely and transparent table outside information disclosure.%本文以2007-2010年年报中有金融资产公允价值变动的上市公司为样本,检验了金融资产已实现收益与上市公司盈余管理关系。研究发现,上市公司均通过出售时机的选择对交易性金融资产和可供出售金融资产已实现收益进行了盈余管理,但是相对于交易性金融资产,管理者更倾向于通过可供出售金融资产进行盈余管理。基于上述研究结果,建议两类资产的公允价值变动均确认为当期损益,并对其进行及时、透明的表外信息披露。

  1. The economics of asset securitization

    OpenAIRE

    Ronel Elul

    2005-01-01

    Ronel Elul explains why asset-backed securities exist and discusses some reasons for their common structure. Elul notes that despite well-developed theories on the what and why of securitization, more research is needed. In particular, additional research could uncover the effect that government regulation and bankruptcy law have on securitization.

  2. Covered bonds vs. assets securitization

    OpenAIRE

    Silviu Eduard DINCĂ

    2014-01-01

    During the past few years, in the recent post-crisis global banking and capital markets context, financial institutions around the globe are exploring new options to better secure their financing and refinancing demands. We will exhibit herewith a comparison between covered bonds and asset securitizations as financial markets-based funding techniques, highlighting certain key structuring and implementation specifics on each of them.

  3. Instructional Films: Asset or Liability?

    Science.gov (United States)

    Braselman, Herbert P.

    1978-01-01

    The unique capabilities of film and research findings in educational psychology, learning psychology, and cost effectiveness indicate that film is an asset to the educational process. Sufficient resources and continued training should be provided to enable teachers to use the most effective film at the optimal time. (CMV)

  4. Labor Unions and Asset Prices

    DEFF Research Database (Denmark)

    Busato, Francesco; Addessi, William

    The paper investigates the nexus between labor and financial markets, focusing on the interaction between labor union behavior in setting wages, firms' investment strategy and asset prices. The way unions set wage claims after observing firm's financial performance increases the volatility of firms...

  5. Experimental Research On Asset Pricing

    NARCIS (Netherlands)

    Noussair, C.N.; Tucker, S.

    2013-01-01

    Abstract This paper selectively surveys some of the more prominent laboratory experimental studies on asset market behavior. The strands of literature considered are market microstructure, pari-mutuel betting markets, characteristics of participants, the effect of information release, and studies of

  6. Strategic Asset Seeking by EMNEs

    DEFF Research Database (Denmark)

    Petersen, Bent; Seifert, Jr., Rene E.

    2014-01-01

    Purpose: The chapter provides an economic explanation and perspectivation of strategic asset seeking of multinational enterprises from emerging economies (EMNEs) as a prominent feature of today’s global economy. Approach: The authors apply and extend the “springboard perspective.” This perspective...

  7. Prediction of future asset prices

    Science.gov (United States)

    Seong, Ng Yew; Hin, Pooi Ah; Ching, Soo Huei

    2014-12-01

    This paper attempts to incorporate trading volumes as an additional predictor for predicting asset prices. Denoting r(t) as the vector consisting of the time-t values of the trading volume and price of a given asset, we model the time-(t+1) asset price to be dependent on the present and l-1 past values r(t), r(t-1), ....., r(t-1+1) via a conditional distribution which is derived from a (2l+1)-dimensional power-normal distribution. A prediction interval based on the 100(α/2)% and 100(1-α/2)% points of the conditional distribution is then obtained. By examining the average lengths of the prediction intervals found by using the composite indices of the Malaysia stock market for the period 2008 to 2013, we found that the value 2 appears to be a good choice for l. With the omission of the trading volume in the vector r(t), the corresponding prediction interval exhibits a slightly longer average length, showing that it might be desirable to keep trading volume as a predictor. From the above conditional distribution, the probability that the time-(t+1) asset price will be larger than the time-t asset price is next computed. When the probability differs from 0 (or 1) by less than 0.03, the observed time-(t+1) increase in price tends to be negative (or positive). Thus the above probability has a good potential of being used as a market indicator in technical analysis.

  8. Recreational Assets in the State of Iowa

    Data.gov (United States)

    Iowa State University GIS Support and Research Facility — This dataset is meant to be a comprehensive database of recreational assets in public areas. Recreational assets are considered amenities provided to the public for...

  9. Problems of intangible assets commercialization accounting

    Directory of Open Access Journals (Sweden)

    S.F. Legenchyk

    2016-03-01

    Full Text Available The growing role of intangible assets in conditions of global economy postindustrialization is grounded. The problems of intangible assets accounting are singled out. The basic tasks of the intangible assets accounting commercialization process are determined. The difference between the commercialization of intellectual property and intangible assets is considered. The basic approaches to understanding the essence of the intangible assets commercialization are singled out and grounded. The basic forms and methods of intangible assets commercialization researched by the author are analyzed. The order of accounting reflection of licensee royalties is considered. The factors of influence on the accounting process of intangible assets commercialization are determined. The necessity of solving the problem of accounting of lease payments for computer program by providing access to SaaS environment is grounded. The prospects of further studies of intangible assets accounting commercialization are determined.

  10. Intellectual Capital and Intangible Assets Analysis and Valuation

    Directory of Open Access Journals (Sweden)

    Ion Anghel

    2008-03-01

    Full Text Available Today the intellectual capital is a key factor in company’s profitability. Two major forces have driven the high performance workplace over the past two decades: globalization and increasing in technological changes. In this environment, the intellectual capital and intangible assets is fundamental to success. In the new economic competition, knowledge assets provide a sustainable competitive advantage. The measurement is fundamental to support management decision in allocation investment and investor’s decision regarding the value versus price. In our research we consider a group of Romanian listed companies on Bucharest Stock Exchange and analyze the importance of intangible value into the total market value of the equity. From accounting point of view the importance of intangible assets is very low but from the market evidence was indicated 47% importance of intangible value in total market value for the Romanian listed companies.

  11. Asset market hangovers and economic growth

    OpenAIRE

    Matthew Higgins; Carol Osler

    1997-01-01

    During the early 1990s, asset prices and investment were unusually weak throughout the industrial world. This paper highlights this stylized fact, and connects it with another: in most of the industrial world, asset markets boomed for several years before collapsing around 1989. The paper suggests that the sluggish asset markets and investment growth of the early 1990s may represent, in part, symptoms of an "asset market hangover," that is, the lingering effects on real activity of collapsing...

  12. Intangible Assets Valuation in the Hospitality Industry

    OpenAIRE

    Du, Ruixue

    2013-01-01

    Market value of firms and book value of firms are rarely the same. The difference, which is attributed to unrecorded or unrecognized intangible assets, has increased significantly since the 1970s. The issue of appropriately valuing these intangible assets, however, still remains unresolved. The purpose of this study is to address this lack of understanding of valuing intangible assets in the hospitality industry. Five intangible asset investments: Research and Development, Training, Advertisi...

  13. Safe Assets, Liquidity and Monetary Policy

    OpenAIRE

    Benigno, Pierpaolo; Nisticò, Salvatore

    2013-01-01

    This paper studies monetary policy in models where multiple assets have different liquidity properties: safe and "pseudo-safe" assets coexist. A shock worsening the liquidity properties of the pseudo-safe assets raises interest-rate spreads and can cause a deep recession cum deflation. Expanding the central bank's balance sheet fills the shortage of safe assets and counteracts the recession. Lowering the interest rate on reserves insulates market interest rates from the liquidity shock and im...

  14. Asset Market Equilibrium with Short-Selling.

    OpenAIRE

    Nielsen, Lars Tyge

    1989-01-01

    This paper presents simple conditions and a simple proof of the existence of equilibrium in asset markets where short-selling is allowed and satiation is possible. Unlike standard nonsatiation assumptions, the one used here is weak enough to be reasonable in the mean-variance capital asset pricing model and in asset market models where investors maximize expected utility and where total returns to individual assets may be negative. Copyright 1989 by The Review of Economic Studies Limited.

  15. Asset liquidity, capital structure, and secured debt

    OpenAIRE

    Morellec, Erwan

    2001-01-01

    This paper investigates the impact of asset liquidity on the valuation of corporate securities and the firm's financing decisions. I show that asset liquidity increases debt capacity only when bond covenants restrict the disposition of assets. By contrast, I demonstrate that, with unsecured debt, greater liquidity increases credit spreads on corporate debt and reduces optimal leverage. The model also determines the extent to which pledging assets increases firm value and relates the optimal s...

  16. Capital Asset Prices with Heterogeneous Beliefs

    OpenAIRE

    Haim Levy

    2006-01-01

    We show that in a market with an infinite number of assets and investors with unbiased heterogeneous beliefs, asset prices are identical to pricing in the capital asset pricing model, even if prices reveal no information. This result holds despite the fact that in the heterogeneous market the separation theorem does not hold, and investors hold different portfolios, which are generally located below the capital market line. When the number of assets is finite, prices deviate systematically fr...

  17. Assets at marriage in rural Ethiopia

    OpenAIRE

    Fafchamps, Marcel; Quisumbing, Agnes

    2004-01-01

    This paper examines the determinants of assets at marriage in rural Ethiopia. We find ample evidence of assertive matching at marriage. Assets brought to marriage are distributed in a highly unequal manner. Sorting operates at a variety of levels - wealth, schooling, and work experience - that cannot be summarized into a single additive index. For first unions, assets brought to marriage are positively associated with parents’ wealth, indicating that a bequest motive affects assets at marriag...

  18. Asset Identification for Security Risk Assessment in Web Applications

    Directory of Open Access Journals (Sweden)

    Hisham M. Haddad

    2009-12-01

    Full Text Available As software applications become more complex they require more security, allowing them to reach an appropriate level of quality to manage information, and therefore achieving business objectives. Web applications represent one segment of software industry where security risk assessment is essential. Web engineering must address new challenges to provide new techniques and tools that guarantee high quality application development. This work focuses asset identification, the initial step in security risk assessment for web applications. Risk assessment helps organizations determine security risks in information management systems. The formal approach to identifying information assets for risk assessment is investigated using the MAGERIT methodology and EBIOS method. This work is carried out at Sim?n Bolivar University (Venezuela for its Student Opinion Survey Coordination web-based application. Under this research, a methodological tool for asset identification was developed to help the University achieve security risk assessment. Assets are identified according to their priorities in the organizational environment. This work contributes to Web Engineering in general, and to Information Security Management with emphasis on security risk assessment.

  19. Experience with the ASSET service in Slovakia

    International Nuclear Information System (INIS)

    The experience with the ASSET service in Slovakia is described, including the following: ASSET follow-up mission to Bohunice Unit 1-2 NPP; IAEA peer review of the national Incident Reporting System in the Slovak Republic; ASSET seminar on prevention of incidents, Bratislava, January 8-12, 1996

  20. Work at Forsmark since ASSET 1996

    International Nuclear Information System (INIS)

    The following directions of work at Forsmark since ASSET 1996 are briefly described: peer review follow-up; work related to peer review, Forsmark 2 mini-ASSET; MTO(man-technology-organization)-analysis method, concept development, combination of MTO and ASSET methods; Forsmark INES manual

  1. Assets and Educational Achievement: Theory and Evidence

    Science.gov (United States)

    Elliott, William; Sherraden, Michael

    2013-01-01

    This special issue of Economics of Education Review explores the role of savings and asset holding in post-secondary educational achievement. Most college success research has focused on income rather than assets as a predictor, and most college financing policy has focused on tuition support and educational debt, rather than asset accumulation.…

  2. 12 CFR 560.160 - Asset classification.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Asset classification. 560.160 Section 560.160... Lending and Investment Provisions Applicable to all Savings Associations § 560.160 Asset classification... consistent with, or reconcilable to, the asset classification system used by OTS in its Thrift...

  3. Protecting high value assets in transit

    International Nuclear Information System (INIS)

    This paper reports that one of the most daunting tasks facing a security manager is how to protect classified or high value assets such as nuclear materials in transit, especially when the shipment is to be handled by a commercial carrier. There are many opportunities for an adversary to gain access to cargo shipments en route, including situations in which the cargo must be held in storage for weeks or even months. Standard commercial alarm systems are not suitable for use in containers subject to vibration or high and low temperature extremes, or situations in which national assets might be used to gain surreptitious access to the container and to defeat the alarm system. A new alarm monitoring system has been developed to provide a secure auditing system for use in rail cars, Conex containers, and other transportable containers. The system, referred to as the PEL-100, electronically supervises intrusion detection sensors mounted on or within a container, and records all intrusion attempts in a secure, solid state memory storage device. The security archive can be withdrawn and reviewed after the container has completed its travels, and will provide a complete audit trail of intrusion attempts in transit. The PEL-100 includes one of the most comprehensive security tamper systems ever fielded, and is intended to operate reliably and securely in an environment subject to vibration, EMI/RFI emissions, electronic spoofing, and physical manipulation. The unit provides a clear and unambiguous indication of tampering and includes a comprehensive internal security system to detect insider tampering

  4. EHV transmission maintenance. A total asset strategy

    International Nuclear Information System (INIS)

    For countries whose economies are rapidly expanding, the demand for power, and in particular electricity, is resulting in rapid expansions of the generation, transmission and distribution of electricity. This means that a new plant is being installed which, apart from some minor post commissioning problems, will be free from major maintenance for several years to come. Consequently, in such cases, maintenance is confined to basic annual shutdown checks and routine online monitoring. As equipment and plant age it is important to commence planning for additional maintenance over and above these basic annual checks; to monitor performance; to monitor faults and defects and to use that information to engineer out design faults, to influence current maintenance techniques and to influence future procurement specifications. Also, provided that sufficient information is available, informed decisions can be taken as to when a power plant should be decommissioned or refurbished. This process can be described as a total asset management strategy covering all decisions from procurement through to commissioning, ongoing maintenance, refurbishment, decommissioning and reappraisal of specifications for future procurement. Based upon the author's experience within the United Kingdom Electricity Supply industry, a total asset strategy will be proposed for EHV transmission plant that will optimise current and future expenditure while maximizing reliability and minimising downtime. 1 ref., 5 figs

  5. CAN ASSET REVALUATION BE MANIPULATIVE? - A CASE STUDY

    Directory of Open Access Journals (Sweden)

    Crisan Sorana Adina

    2013-07-01

    Full Text Available Asset revaluation can trigger different signals to investors depending upon company type, asset intensity and category and investors’ expectations. In the same time, motivations behind asset revaluation decisions are diverse, being influenced by management incentives, credit covenants, faithful representation and various other reasons. In many cases the revaluation decision is imposed upon the company by auditors or the need to reduce information asymmetry. In Romania, one of the main decision drivers is the Fiscal Code, due to buildings taxation provisions. For companies that revaluate their fixed assets for taxation purposes only (which is the case for most small companies in Romania, the primary concern is to reduce the fiscal impact – the preferred scenario in this case is most likely to be the one that reduces tax expenses. Our research aims to provide a full picture of the motivations behind the revaluation decision and point to the manipulation instruments made available to companies by the allowed alternatives in what regards (1 which assets to be revalued and (2 how to recalculate book values. By means of a case study we identify the options available to a revaluating company and show how each one can impact the financial statements and financial ratios, thus influencing financial statement users’ perception. Our analysis is limited to fixed assets revaluation, as these are the ones revaluated by most Romanian companies. The comparative analysis shows that the decision to not revaluate certain assets categories can lead to serious distortions of the faithful image. Financial ratios can be significantly impacted by the type of assets revalued, depending upon the revaluation direction (upward or downward and the revaluation differences. In upward revaluation leverage ratios and solvency can improve, leading to a better position in relation to credit covenants. Equity is also positively affected. Alternatively, a decrease of assets

  6. ASSET ALLOCATION AND ASSET PRICING IN THE FACE OF SYSTEMIC RISK: A LITERATURE OVERVIEW AND ASSESSMENT

    OpenAIRE

    CHRISTOPH MEINERDING

    2012-01-01

    This paper provides a detailed overview of the current research linking systemic risk, financial crises and contagion effects among assets on the one hand with asset allocation and asset pricing theory on the other hand. Based on the ample literature about definitions, measurement and properties of systemic risk, we derive some elementary ingredients for models of financial contagion and assess the current state of knowledge about asset allocation and asset pricing with explicit focus on syst...

  7. Neighborhood Assets and Adolescent Adjustment

    Directory of Open Access Journals (Sweden)

    Alfredo Oliva Delgado

    2011-12-01

    Full Text Available This paper presents the results of a study analyzing the relationship between some dimensions or developmental assets in the neighborhood, as measured by the Scale for the Assessment of Developmental Assets in the Neighborhood, and adjustment and life satisfaction of adolescent boys and girls. The sample consisted of 2400 adolescents (1068 boys and 1332 girls between ages 12 and 17 who were secondary students in public and private schools in Western Andalusia. The results showed significant relationships between most dimensions of the scale (youth empowerment, attachment to neighbourhood safety and social control and internalizing and externalizing problems, substance use and life satisfaction of participants. Moreover, the data provide evidence about the external validity of the scale used in the study. From the results some suggestions for intervention in the community environment are extracted.

  8. Security: a supranational legal asset

    Directory of Open Access Journals (Sweden)

    Manuel Monteiro Guedes Valente

    2012-01-01

    Full Text Available This paper discusses the concept of security as a manysided, multifunctional and multilevel regulation topology which requires its several actors to view legal assets from a polygonal perspective worthy of legal protection from local to global and from global to local space. The concept of security as a supranational legal asset requires criminal legislation which defines the principles of criminal policy and the intervention of criminal Law, barriers to security trends and to the attempt to enhance the principle of presumed hazard as a basis for criminal intervention. We contend that the obstacle to "human self-objectification" in the global polygon is a (new world legal order as humanity's future balance.

  9. Leverage and Asset Prices: An Experiment

    OpenAIRE

    Ana Fostel

    2012-01-01

    This is the first paper to test the asset pricing implication of leverage in a laboratory. We show that as theory predicts, leverage increases asset prices: when an asset can be used as collateral (i.e., when the asset can be bought on margin), its price goes up. This increase is significant, and quantitatively close to what theory predicts. However, important deviations from the theory arise in the laboratory. First, the demand for the asset shifts when it can be used as a collateral, even t...

  10. Cost minimization and asset pricing

    OpenAIRE

    Chambers, Robert G.; John Quiggin

    2005-01-01

    A cost-based approach to asset-pricing equilibrium relationships is developed. A cost function induces a stochastic discount factor (pricing kernel) that is a function of random output, prices, and capital stockt. By eliminating opportunities for arbitrage between financial markets and the production technology, firms minimize the current cost of future consumption. The first-order conditions for this cost minimization problem generate the stochastic discount factor. The cost-based approach i...

  11. Brand Loyalty- a Valuable Asset

    OpenAIRE

    Petruºcã Claudia-Ioana; Brunello Adrian

    2011-01-01

    Brand loyalty represents a significant factor which leads to the development of business competitiveness and also it is one of the most frequently implemented marketing initiatives by the practitioners. The question of how loyalty develops has been subject to an abundance of research, leading to an expansive body of literature on loyalty determinants. This article focuses on brand loyalty as an important company asset. Defining the concept and typology of brand loyalty supports practitioners ...

  12. Path Integral and Asset Pricing

    OpenAIRE

    Zura Kakushadze

    2014-01-01

    We give a pragmatic/pedagogical discussion of using Euclidean path integral in asset pricing. We then illustrate the path integral approach on short-rate models. By understanding the change of path integral measure in the Vasicek/Hull-White model, we can apply the same techniques to "less-tractable" models such as the Black-Karasinski model. We give explicit formulas for computing the bond pricing function in such models in the analog of quantum mechanical "semiclassical" approximation. We al...

  13. Debt Financing in Asset Markets

    OpenAIRE

    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...

  14. Collateral-Based Asset Pricing

    OpenAIRE

    Roberto Steri

    2015-01-01

    Recent corporate finance studies show that hedging is a first-order driver of corporate decisions. I use firms' hedging behavior to build a novel asset pricing model, the Corporate CAPM. I propose a dynamic contracting framework in which collateral constraints induce a tradeoff between hedging and immediate needs for funding. Firms hedge by transferring resources to future states that are most important for firm's value. In the model, firms' hedging behavior is informative of the shareholders...

  15. Asset Pricing with Home Capital

    OpenAIRE

    Michal Pakos

    2008-01-01

    I analyze a stylized consumption-based asset pricing model that features heterogeneous agents and household capital, and discover a novel recession risk factor related to the cross-sectional second moments of the corresponding investments into such home capital. In order to fully isolate the orthogonal effects at work, I completely shut off the well-known mechanism of Constantinides and Duffie (1996) by explicitly stipulating homoscedastic cross-sectional distribution of nondurable goods and ...

  16. The Capital Asset Pricing Model

    OpenAIRE

    André F. Perold

    2004-01-01

    The Capital Asset Pricing Model (CAPM) revolutionized modern finance. Developed in the early 1960s by William Sharpe, Jack Treynor, John Lintner and Jan Mossin, the model provided the first coherent framework for relating the required return on an investment to the risk of that investment. This paper lays out the key ideas of the model, places its development in a historical context, and discusses its applications and enduring importance to the field of finance.

  17. Capital Mobility and Asset Pricing

    OpenAIRE

    Duffie, Darrell; Strulovici, Bruno

    2009-01-01

    We present a model for the equilibrium movement of capital between asset markets that are distinguished only by the levels of capital invested in each. Investment in that market with the greatest amount of capital earns the lowest risk premium. Intermediaries optimally trade off the costs of intermediation against fees that depend on the gain they can offer to investors for moving their capital to the market with the higher mean return. Those fees also depend on the bargaining power of the in...

  18. Managing your assets in the publication economy

    Directory of Open Access Journals (Sweden)

    Ulf Kronman

    2013-03-01

    Full Text Available The issue this article aims to address is the fact that publications may nowadays be used to assess impact and quality of research in ways academics may not be fully aware of. During recent years, scholarly publications have gained in importance, not primarily as the traditional vehicle for the dissemination of new scientific findings, but as a foundation for assessing the production and impact of organizations, research groups and individual researchers. This means that publications as artefacts per se are starting to play a new important role in the scientific community and that researchers need to be aware of how publication and citation counts are being used to assess their research and the outreach, impact and reputation of their mother organization. University rankings, for instance, often have some parameters based on the publishing of the ranked institution. This article is thus not about scientific writing as such; it focuses on what happens to your publication after the publishing has taken place and on aspects to take into account while planning the publishing of your article, report or book.

  19. THE IMPORTANCE OF INTAGIBILE ASSETS FOR TOURISTIC`S ENTERPRISE IN THE PERSPECTIVE OF GLOBALIZATION

    Directory of Open Access Journals (Sweden)

    Maja DJUKIC

    2009-12-01

    Full Text Available In time of globalization very important role in touristic enterprise have intangible assets: human capital, information capital and organization capital. Intangible assets, especially human resources drive long-term value creation. So human resources are generally accepted as being strategically important. The main management problem is being able to make alignment of intangible assets and organization's strategy. The tools which management in tourism enterprise can use for this purpose are balanced score card and strategy map, which will be explained in this article.

  20. Implementation of ASSET concept in India

    International Nuclear Information System (INIS)

    The paper presents a retrospective assessment of the use of ASSET methodology in India since the first ASSET seminary organized by IAEA in collaboration with the Atomic Energy Regulatory Board, India (AERB) in May, 1994. The first ASSET seminar was organized to initiate the spread of idea among operating and research organizations and regulatory body personnel. The participants were carefully chosen from various fields and with different levels of experiences to generate teams with sufficiently wide spectrum of knowledge base. AERB took initiative in leading by example and formed ASSET teams to carry out the first ASSET reviews in India. These teams at the instance of AERB carried out ASSET review of three Safety Related Events, two at Nuclear Power Plants and one at Research Reactor. This paper describes the outcome of these ASSET studies and subsequent implementation of the recommendations. The initiative taken by the regulatory body has led to formation of ASSET teams by the utilities to carry out ASSET study on their own. The results of these studies are yet to be assessed by the regulatory body. The result of the ASSET experience reveals the fact that it has further potential in improving the safety performance and safety culture and brining in fresh enthusiasm among safety professionals of Indian Nuclear Utilities

  1. Management Academy LANL Business Systems: Property Management, Course #31036

    Energy Technology Data Exchange (ETDEWEB)

    Shepherd, Michael J. [Los Alamos National Lab. (LANL), Los Alamos, NM (United States); Rinke, Helen Mae [Los Alamos National Lab. (LANL), Los Alamos, NM (United States); Hanson, Todd [Los Alamos National Lab. (LANL), Los Alamos, NM (United States); Wolfe, Randy P. [Los Alamos National Lab. (LANL), Los Alamos, NM (United States)

    2016-07-08

    Los Alamos National Laboratory (LANL) is responsible for the efficient economical management of all government property in its stewardship. This training explains the role LANL managers have in managing, controlling, and disposing of government property. The Laboratory's goal is good asset management. By properly managing property across the facility, Laboratory managers can help ASM improve government property utilization and extend asset life, while reducing asset-related operating costs and expenditures.

  2. The effects of asset securitization on sustainability & profitability of microfinance institutions in Ghana

    Directory of Open Access Journals (Sweden)

    Daniel Quacoe

    2015-08-01

    Full Text Available Asset Securitization is a process that involves repackaging portfolios of cash-flow-producing financial instruments into securities or tradable capital market instruments for transfer to investors. There have been a number of studies on asset securitization and microfinance but most of these studies did not focus on the effects of asset securitization on sustainability and profitability of microfinance institutions. These studies were conducted in developed economies and little has been done in Africa and for that matter Ghana. This study therefore sought to explore the effects of asset securitization on sustainability and profitability of MFIs in Ghana knowing the important role they play in the Ghanaian economy. The objectives were to determine whether asset securitization is being practiced in Ghana, to determine whether asset securitization will improve the sustainability and profitability of microfinance institutions (MFI’s as well as challenges that may arise. As a qualitative research, the case study approach was employed in the research design. Questionnaires were administered to a sample size of 200 respondents from a population of 517 who were drawn from the management and staff of five microfinance companies selected through convenience and purposeful sampling techniques. The findings are that asset securitization in microfinance is currently not being practiced in Ghana but if implemented, it will have a positive effect on the sustainability and profitability of microfinance companies in Ghana. The study identified some challenges that microfinance institutions may face in the introduction of asset securitization in Ghana.

  3. Confidence Risk and Asset Prices

    OpenAIRE

    Ravi Bansal; Ivan Shaliastovich

    2009-01-01

    In the data, asset prices exhibit large negative moves at frequencies of about 18 months. These large moves are puzzling as they do not coincide, nor are they followed by any significant moves in the real side of the economy. On the other hand, we find that measures of investor's uncertainty about their estimate of future growth have significant information about large moves in returns. We set-up a recursive-utility based model in which investors learn about the latent expected growth using t...

  4. Renewable energies: the Spanish assets

    International Nuclear Information System (INIS)

    Even though Spain is far away from the Kyoto protocol objectives, this country possesses numerous assets in terms of renewable energies. This report presents overviews of the present situation and of innovation and research activities in the different fields of renewable energies: wind energy, solar energy (thermal, thermoelectric and photovoltaic), hydraulic energy (dams, tide and wave energy), biomass (wood, bio-fuels, biogas). Along with these presentations, the authors propose tables and graphs of quantitative data concerning these different energy productions, at the national as well as at the regional level, with comparison with data for other European countries

  5. Nominal Rigidities and Asset Pricing

    OpenAIRE

    Michael Weber

    2014-01-01

    This paper examines the asset-pricing implications of nominal rigidities. I find that firms that adjust their product prices infrequently earn a cross-sectional return premium of more than 4% per year. Merging confidential product price data at the firm level with stock returns, I document that the premium for sticky-price firms is a robust feature of the data and is not driven by other firm and industry characteristics. The consumption-wealth ratio is a strong predictor of the return differe...

  6. Advantages of North Sea Assets

    International Nuclear Information System (INIS)

    The North Sea is a significant hydrocarbon province and any large multinational will need to maintain North Sea assets within their portfolio - as indeed they do. The general feeling that pervades the oil industry that the North Sea is ''mature'' can be demonstrated by reference to the facts. The result is a potential fall-off in activity and a serious threat to the future levels of profitability in the region. Notwithstanding the continuing development of large fields, such as Troll, of or multi-field developments, for example BP's recent announcement on ETAPs, activity is beginning to fall, most noticeably at the front end of the development cycle, in exploration. (author)

  7. Newspaper archives : a knowledge asset

    OpenAIRE

    Pujari, Anita; Pai, Priya

    2005-01-01

    This paper deals with Newspaper Content as a source of knowledge and how Times Archives of the Times Group has converted the 166-year span of socio-political content of “The Times of India” and the 43 year economic and business barometer “The Economic Times” into an easily accessible Archive. The value of this Archive as a Knowledge Asset lies in its potential of being recalled, researched, reused and re-expressed by the various ventures of the Group. This paper describes the process of Micro...

  8. Retrading, production, and asset market performance.

    Science.gov (United States)

    Gjerstad, Steven D; Porter, David; Smith, Vernon L; Winn, Abel

    2015-11-24

    Prior studies have shown that traders quickly converge to the price-quantity equilibrium in markets for goods that are immediately consumed, but they produce speculative price bubbles in resalable asset markets. We present a stock-flow model of durable assets in which the existing stock of assets is subject to depreciation and producers may produce additional units of the asset. In our laboratory experiments inexperienced consumers who can resell their units disregard the consumption value of the assets and compete vigorously with producers, depressing prices and production. Consumers who have first participated in experiments without resale learn to heed their consumption values and, when they are given the option to resell, trade at equilibrium prices. Reproducibility is therefore the most natural and most effective treatment for suppression of bubbles in asset market experiments. PMID:26553991

  9. Retrading, production, and asset market performance

    Science.gov (United States)

    Gjerstad, Steven D.; Porter, David; Smith, Vernon L.; Winn, Abel

    2015-01-01

    Prior studies have shown that traders quickly converge to the price–quantity equilibrium in markets for goods that are immediately consumed, but they produce speculative price bubbles in resalable asset markets. We present a stock-flow model of durable assets in which the existing stock of assets is subject to depreciation and producers may produce additional units of the asset. In our laboratory experiments inexperienced consumers who can resell their units disregard the consumption value of the assets and compete vigorously with producers, depressing prices and production. Consumers who have first participated in experiments without resale learn to heed their consumption values and, when they are given the option to resell, trade at equilibrium prices. Reproducibility is therefore the most natural and most effective treatment for suppression of bubbles in asset market experiments. PMID:26553991

  10. Are Asset Demand Functions Determined by CAPM?

    OpenAIRE

    Jeffrey A. Frankel; Dickens, William T.

    1983-01-01

    The Capital Asset Pricing Model (CAPH) says that the responsiveness of asset-demands to expected returns depends (inversely) on the variance-covariance matrix of returns, rather than being an arbitrary set of parameters.Previous tests of CAPM have usually computed covariances of returns around sample means, and then checked whether the riskier assets are those with the higher mean returns. We offer a new technique for testing CAPM. The technique requires the use of time series data on actual ...

  11. Modeling the strategic trading of electricity assets

    OpenAIRE

    Oliveira, Fernando de S.; Derek W. Bunn; London Business School

    2006-01-01

    We analyze how strategic asset trading can be used to gain competitive advantage. In the case of electricity markets, companies seek to improve the value of their generating portfolios by acquiring, or selling, power plants. Accordingly, we derive the basic determinants of plant value, explaining how a particular productive asset may have different values for different firms. From this, we develop an evolutionary model to understand how market structure interacts with strategic asset trading ...

  12. The Destruction of a Safe Haven Asset?

    OpenAIRE

    Baur, Dirk G.; Kristoffer Glover

    2012-01-01

    Gold has been a store of value for centuries and a safe haven for investors in the past decades. However, the increased investment in gold for speculative or hedging purposes has changed the safe haven property. We demonstrate theoretically and empirically that investor behaviour has the potential to destroy the safe haven property of gold. The results suggest that an asset cannot be both an investment asset and an effective safe haven asset. This finding has important implications for financ...

  13. Financial Regulation and Australian Dollar Liquid Assets

    OpenAIRE

    Alexandra Heath; Mark Manning

    2012-01-01

    Liquid assets with low credit and market risk have a number of uses in financial markets, such as providing collateral against short-term funding or credit exposures that arise between counterparties to financial transactions. This article examines the existing sources of demand for Australian dollar-denominated liquid assets. Given relatively low levels of government debt in Australia, demand for these assets has been increasing relative to supply for some time. A further increase in demand ...

  14. Asset Price Fluctuation and Price Indices

    OpenAIRE

    Shiratsuka, Shigenori

    1999-01-01

    Since the late 1980s, the Japanese economy has experienced tremendous rise and fall of asset prices and large fluctuations of real economic activity, while the general price level has remained relatively stable. Such developments have raised the question of whether monetary policy should target asset prices rather than conventional price indices. This paper focuses on how to make use of information inherent with asset price fluctuations in the monetary policy judgment. To this end, it investi...

  15. Are Financial Assets Priced Locally or Globally?

    OpenAIRE

    G. Andrew Karolyi; Rene M. Stulz

    2002-01-01

    We review the international finance literature to assess the extent to which international factors affect financial asset demands and prices. International asset pricing models with mean-variance investors predict that an asset's risk premium depends on its covariance with the world market portfolio and, possibly, with exchange rate changes. The existing empirical evidence shows that a country's risk premium depends on its covariance with the world market portfolio and that there is some evid...

  16. Improvement to Biological Assets Valuation Documentation

    OpenAIRE

    Evgeniya Popko

    2013-01-01

    The article deals with the improvement concerning the documentation on the valuation of an agricultural enterprise's biological assets. The objective of the paper is to substantiate the need for the new forms of primary documents for valuation of biological assets at fair value. Based on existing specialized forms of primary documents for long-term and current biological assets accounting it has been found that they do not fully meet the farmers requirements. To eliminate the deficit of the a...

  17. Aggregate Implications of Micro Asset Market Segmentation

    OpenAIRE

    Chris Edmond; Pierre-Olivier Weill

    2011-01-01

    This paper develops a consumption-based asset pricing model to explain and quantify the aggregate implications of a frictional financial system, comprised of many financial markets partially integrated with one another. Each of our micro financial market's is inhabited by traders who are specialized in that markets type of asset. We specify exogenously the level of segmentation that ultimately determines how much idiosyncratic risk traders bear in their micro market and derive aggregate asset...

  18. The Supply and Demand for Safe Assets

    OpenAIRE

    Gary B. Gorton; Guillermo Ordoñez

    2013-01-01

    There is a demand for safe assets, either government bonds or private substitutes, for use as collateral. Government bonds are safe assets, given the government's power to tax, but their supply is driven by fiscal considerations, and does not necessarily meet the private demand for safe assets. Unlike the government, the private sector cannot produce riskless collateral. When the private sector reaches its limit (the quality of private collateral), government bonds are net wealth, up to the g...

  19. Equilibrium in CAPM without a Riskless Asset.

    OpenAIRE

    Nielsen, Lars Tyge

    1990-01-01

    In the mean-variance capital asset pricing model without a riskless asset, the possibility of satiation sometimes leads to nonexistence of general equilibrium. Moreover, because portfolio preferences are not necessarily monotone, equilibrium asset prices, when they exist, may be negative or zero. To demonstrate the possibility of nonexistence, and to develop an intuitive understanding of when and why equilibrium does or does not exist, this paper fully investigates the special case of utility...

  20. Hedging with a correlated asset

    Science.gov (United States)

    Windcliff, H.; Wang, J.; Forsyth, P. A.; Vetzal, K. R.

    2007-03-01

    Hedging a contingent claim with an asset which is not perfectly correlated with the underlying asset results in unhedgeable residual risk. Even if the residual risk is considered diversifiable, the option writer is faced with the problem of uncertainty in the estimation of the drift rates of the underlying and the hedging instrument. If the residual risk is not considered diversifiable, then this risk can be priced using an actuarial standard deviation principle in infinitesimal time. In both cases, these models result in the same nonlinear partial differential equation (PDE). A fully implicit, monotone discretization method is developed for solution of this pricing PDE. This method is shown to converge to the viscosity solution. Certain grid conditions are required to guarantee monotonicity. An algorithm is derived which, given an initial grid, inserts a finite number of nodes in the grid to ensure that the monotonicity condition is satisfied. At each timestep, the nonlinear discretized algebraic equations are solved using an iterative algorithm, which is shown to be globally convergent. Monte Carlo hedging examples are given to illustrate the profit and loss distribution at the expiry of the option.

  1. Impairment of assets - between regulation and deregulation

    OpenAIRE

    Professor Traian Nicolae, Ph.D.

    2010-01-01

    Objective of IAS 36 Impairment of assets is to prescribe procedures that apply to an undertaking to ensure that its assets are carried at amounts not exceeding their recoverable amount if the carrying amount is recoverable in full. An asset is carried at an amount not exceeding the amount will be recovered through its use or sale. If this case proves, is described as impaired assets and IAS 36 requires the company to account for a loss of value. Also, the rule specifies that a business case s...

  2. Risk and return in oilfield asset holdings

    International Nuclear Information System (INIS)

    Convention suggests that emerging market investment should provide commensurately lower risk or higher returns than comparable assets in developed countries. This study demonstrates that emerging markets contain regulatory specificities that challenge asset valuation model convergence and potentially invert risk return convention. 292 oilfield assets are used to provide evidence that, under upward oil prices, emerging markets are characterized by progressive state participation in oilfield cash flows. Specifically, this work advances the low oil price paradigm of prior oil and gas asset valuation studies and provides evidence that emerging market state participation terms limit the corporate value of globalization for the sector. (author)

  3. Fractional-moment Capital Asset Pricing model

    Energy Technology Data Exchange (ETDEWEB)

    Li Hui; Wu Min [Dep. of Math., South China University of Technology, Guangzhou 510640 (China); Wang Xiaotian [Dep. of Math., South China University of Technology, Guangzhou 510640 (China)], E-mail: swa001@126.com

    2009-10-15

    In this paper, we introduce the definition of the '{alpha}-covariance' and present the fractional-moment versions of Capital Asset Pricing Model,which can be used to price assets when asset return distributions are likely to be stable Levy (or Student-t) distribution during panics and stampedes in worldwide security markets in 2008. Furthermore, if asset returns are truly governed by the infinite-variance stable Levy distributions, life is fundamentally riskier than in a purely Gaussian world. Sudden price movements like the worldwide security market crash in 2008 turn into real-world possibilities.

  4. Fractional-moment Capital Asset Pricing model

    International Nuclear Information System (INIS)

    In this paper, we introduce the definition of the 'α-covariance' and present the fractional-moment versions of Capital Asset Pricing Model,which can be used to price assets when asset return distributions are likely to be stable Levy (or Student-t) distribution during panics and stampedes in worldwide security markets in 2008. Furthermore, if asset returns are truly governed by the infinite-variance stable Levy distributions, life is fundamentally riskier than in a purely Gaussian world. Sudden price movements like the worldwide security market crash in 2008 turn into real-world possibilities.

  5. Illiquid Assets and Optimal Portfolio Choice

    OpenAIRE

    Schwartz, Eduardo S.; Tebaldi, Claudio

    2004-01-01

    The presence of illiquid assets, such as human wealth or a family owned business, complicates the problem of portfolio choice. This paper is concerned with the problem of optimal asset allocation and consumption in a continuous time model when one asset cannot be traded. This illiquid asset, which depends on an uninsurable source of risk, provides a liquid dividend. In the case of human capital we can think about this dividend as labor income. The agent is endowed with a given amount of the i...

  6. Asset Identification for Security Risk Assessment in Web Applications

    OpenAIRE

    Hisham M. Haddad; Brunil D. Romero

    2009-01-01

    As software applications become more complex they require more security, allowing them to reach an appropriate level of quality to manage information, and therefore achieving business objectives. Web applications represent one segment of software industry where security risk assessment is essential. Web engineering must address new challenges to provide new techniques and tools that guarantee high quality application development. This work focuses asset identification, the initial step in sec...

  7. Entrepreneurial Human Capital, Complementary Assets, and Takeover Probability

    OpenAIRE

    Thorsten V. Braun; Krispin, Sebastian; Lehmann, Erik E

    2009-01-01

    Gaining access to technologies, competencies, and knowledge is observed as one of the major motives for corporate mergers and acquisitions. In this paper we show that a knowledge-based firm's probability of being a takeover target is influenced by whether relevant specific human capital aimed for in acquisitions is directly accumulated within a specific firm or is bound to its founder or manager owner. We analyze the incentive effects of different arrangements of ownership in a firm's assets ...

  8. Desarrollo de la nueva guía canadiense de diseño y gestión de infraestructura vial 2011: un resumen del estado de la práctica canadiense Development of the new 2011 canadian pavement asset design and management guide: a brief summary of canadian state-of-the-practice

    OpenAIRE

    Susan L Tighe; McLeod, Norman W.; Marta Juhasz

    2012-01-01

    En septiembre de 2009, la Asociación de Transporte de Canadá (Transportation Association of Canada, TAC) comenzó a desarrollar la versión 2011 de la Guía de diseño y gestión de infraestructura vial (Pavement Asset Design and Management Guide, PADMG). El proyecto es un fondo de estudios auspiciado por más de veinte organismos públicos canadienses entre los cuales se encuentran los diez Departamentos de Transporte provinciales, varias de las principales ciudades canadienses, diversas asociacion...

  9. The instrument of asset securitization on the basis of investment funds

    Directory of Open Access Journals (Sweden)

    O.S. Novak

    2015-03-01

    Full Text Available This article explores the instruments of asset securitization on the basis of investment funds According to the proposed national model of asset securitization on the basis of investment funds developed the financial instruments, which provide its implementation. Depending on the opportunities the payment management proposed to service the operations of asset securitization by investment certificates with replenishment and without the possibility of replenishment. The use of financial instruments without the possibility of replenishment envisages a simple and low-cost operation of redirecting funds from the originator to the investors in the form of investment income by certification of securitization fund. The instruments with replenishment allow not only to redirect payments for operations of assets securitization, but also to manage them in order to minimize risks.

  10. Knowledge Management

    Science.gov (United States)

    Deepak

    2005-01-01

    Knowledge Management (KM) is the process through which organizations generate value from their intellectual and knowledge-based assets. Frequently generating value from such assets means sharing them among employees, divisions and even with other companies in order to develop best practices. This article discusses three basic aspects of…

  11. The asset pricing model of musharakah factors

    Science.gov (United States)

    Simon, Shahril; Omar, Mohd; Lazam, Norazliani Md

    2015-02-01

    The existing three-factor model developed by Fama and French for conventional investment was formulated based on risk-free rates element in which contradict with Shariah principles. We note that the underlying principles that govern Shariah investment were mutual risk and profit sharing between parties, the assurance of fairness for all and that transactions were based on an underlying asset. In addition, the three-factor model did not exclude stock that was not permissible by Shariah such as financial services based on riba (interest), gambling operator, manufacture or sale of non-halal products or related products and other activities deemed non-permissible according to Shariah. Our approach to construct the factor model for Shariah investment was based on the basic tenets of musharakah in tabulating the factors. We start by noting that Islamic stocks with similar characteristics should have similar returns and risks. This similarity between Islamic stocks was defined by the similarity of musharakah attributes such as business, management, profitability and capital. These attributes define factor exposures (or betas) to factors. The main takeaways were that musharakah attributes we chose had explain stock returns well in cross section and were significant in different market environments. The management factor seemed to be responsible for the general dynamics of the explanatory power.

  12. 76 FR 78594 - Reporting of Specified Foreign Financial Assets

    Science.gov (United States)

    2011-12-19

    ... Internal Revenue Service 26 CFR Part 1 RIN 1545-BJ69 Reporting of Specified Foreign Financial Assets AGENCY... foreign financial assets (other than assets excepted from reporting as provided in Sec. 1.6038D-7T) with... interest in specified foreign financial assets (other than assets excepted from reporting as provided...

  13. CNMC Made Great Break-throughs in Both Total Assets and Sales Revenue

    Institute of Scientific and Technical Information of China (English)

    2012-01-01

    <正>Luo Tao, General Manager of China Nonferrous Metals Corporation (CNMC) indicated in a recent interview that, in 2011, CNMC’s business indicators grew robustly, with both of the total assets and sales revenue exceeding RMB 100 billion for the first time.Luo noted that, compared with the initial stage of the 11th Five-Year Plan period, CNMC’s total assets, sales revenue and total profit went up by 15 times, 20 times and 10 times respectively.

  14. Intangible assets for intangible deliverables

    DEFF Research Database (Denmark)

    Elsmore, Matthew J.

    2008-01-01

    As the dominant economic business model in Europe, services are important when we consider intangible assets. This article argues a case for some kind of 'special relationship' between service firms and trade marks-specifically bearing in mind the CTM system and new EU services law. On the question...... if there can be constructive overlap between trade marks and services and how this emerges, the analysis shows there is reason both for and against thinking that together the relevant sets of laws, among other things, ease the transition from national- to Community-based trading for the overwhelming...... majority of EU businesses. The article suggests a starting point for a fresh yet reassuringly ordinary dialogue within trade mark law, one that asserts it a central role in realising predicted economic benefits of the Internal Market....

  15. CNOOC Acquires Oversea Assets Successfully

    Institute of Scientific and Technical Information of China (English)

    Hu Senlin

    2006-01-01

    @@ After last year CNOOC's bidding for buy the US energy company Unocal Corp lost out to the Chevron Corporation, it conducted the crossing-border asset-acquirement again in the beginning of this year. On Jan. 9, 2006,CNOOC Ltd signed a definitive agreement with Nigeria South Atlantic Petroleum Limited (SAPETRO) to acquire a 45 % working interest in an offshore oil developing license OML 130 in Nigeria for US$2.268 billion cash. The purchase will be funded by the internal capital resources of CNOOC Ltd. In which, US$1.75 billion will pay for buying SAPETRO, and the remaining cash will be used to pay for the early operation cost.

  16. Cogema acquires TOTAL's uranium assets

    International Nuclear Information System (INIS)

    On April 28, France's nuclear fuel cycle conglomerate Cogema and petroleum group TOTAL announced a plan in which Cogema will assume ownership of TOTAL's uranium assets worldwide, and as part of the deal, each firm will acquire shares of the other. On June 2, the agreement will be submitted to shareholders and, assuming it is approved, will go into effect this year. The agreement calls for TOTAL to acquire a 10.8-percent share in Cogema, thus becoming its first private sector shareholder, by underwriting a reserve capital increase of FF1.5 billion (approximately US$283 million). In return, Cogema will pay FF2.52 billion for approximately 4.3 percent of TOTAL, as part of a reserve capital increase totalling FF4.07 billion

  17. BILINGUALISM: AN ASSET OR A BURDEN?

    OpenAIRE

    Ienneke Indra Dewi

    2008-01-01

    The article shows literary scholar opinion whether bilingualism is an asset or burden. The literary scholars see it from many aspects such as neuropsychological, cognitive, social, and psychology. From their research it found that generally bilingualism is an asset and not a burden. The analysis is also supported by argument and some examples from bilingual peoples.

  18. 12 CFR 347.210 - Asset maintenance.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Asset maintenance. 347.210 Section 347.210 Banks and Banking FEDERAL DEPOSIT INSURANCE CORPORATION REGULATIONS AND STATEMENTS OF GENERAL POLICY INTERNATIONAL BANKING Foreign Banks § 347.210 Asset maintenance. (a) An insured branch of a foreign bank...

  19. Liquidity-related plan asset issues.

    Science.gov (United States)

    Murphy, B B; Johnson, M K; Zorn, W P

    2000-12-01

    By about 2025, most baby boomers will have retired, which will put a tremendous strain on public sector pension plans. Many will experience negative cash flows, and liquidity will be an increasing concern. Asset/liability studies can help measure the effect of this risk on system funding and contribution requirements, resulting in more informed asset allocation choices and benefit policies. PMID:11188405

  20. 39 CFR 3060.12 - Asset allocation.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Asset allocation. 3060.12 Section 3060.12 Postal Service POSTAL REGULATORY COMMISSION PERSONNEL ACCOUNTING PRACTICES AND TAX RULES FOR THE THEORETICAL COMPETITIVE PRODUCTS ENTERPRISE § 3060.12 Asset allocation. Within 6 months of January 23, 2009, and for...

  1. BILINGUALISM: AN ASSET OR A BURDEN?

    Directory of Open Access Journals (Sweden)

    Ienneke Indra Dewi

    2008-10-01

    Full Text Available The article shows literary scholar opinion whether bilingualism is an asset or burden. The literary scholars see it from many aspects such as neuropsychological, cognitive, social, and psychology. From their research it found that generally bilingualism is an asset and not a burden. The analysis is also supported by argument and some examples from bilingual peoples.

  2. Demonstration and Validation Assets: User Manual Development

    Energy Technology Data Exchange (ETDEWEB)

    None

    2008-06-30

    This report documents the development of a database-supported user manual for DEMVAL assets in the NSTI area of operations and focuses on providing comprehensive user information on DEMVAL assets serving businesses with national security technology applications in southern New Mexico. The DEMVAL asset program is being developed as part of the NSPP, funded by both Department of Energy (DOE) and NNSA. This report describes the development of a comprehensive user manual system for delivering indexed DEMVAL asset information to be used in marketing and visibility materials and to NSTI clients, prospective clients, stakeholders, and any person or organization seeking it. The data about area DEMVAL asset providers are organized in an SQL database with updateable application structure that optimizes ease of access and customizes search ability for the user.

  3. Rate of Return Parity in Experimental Asset Markets

    OpenAIRE

    Jason Childs; Stuart Mestelman

    2004-01-01

    This paper applies experimental methods to evaluate the completeness of arbitrage and rate of return parity in simultaneous asset markets in which the assets are denominated in different currencies. Two assets, which return uncertain, but known, dividends in each trading period, are traded over twenty periods, after which the asset has no value. Results indicate that risk neutral rate of return parity is a strong predictor of relative asset prices when assets have common expected dividends an...

  4. Online Monitoring of Plant Assets in the Nuclear Industry

    Energy Technology Data Exchange (ETDEWEB)

    Nancy Lybeck; Vivek Agarwal; Binh Pham; Richard Rusaw; Randy Bickford

    2013-10-01

    Today’s online monitoring technologies provide opportunities to perform predictive and proactive health management of assets within many different industries, in particular the defense and aerospace industries. The nuclear industry can leverage these technologies to enhance safety, productivity, and reliability of the aging fleet of existing nuclear power plants. The U.S. Department of Energy’s Light Water Reactor Sustainability Program is collaborating with the Electric Power Research Institute’s (EPRI’s) Long-Term Operations program to implement online monitoring in existing nuclear power plants. Proactive online monitoring in the nuclear industry is being explored using EPRI’s Fleet-Wide Prognostic and Health Management (FW-PHM) Suite software, a set of web-based diagnostic and prognostic tools and databases that serves as an integrated health monitoring architecture. This paper focuses on development of asset fault signatures used to assess the health status of generator step-up transformers and emergency diesel generators in nuclear power plants. Asset fault signatures describe the distinctive features based on technical examinations that can be used to detect a specific fault type. Fault signatures are developed based on the results of detailed technical research and on the knowledge and experience of technical experts. The Diagnostic Advisor of the FW-PHM Suite software matches developed fault signatures with operational data to provide early identification of critical faults and troubleshooting advice that could be used to distinguish between faults with similar symptoms. This research is important as it will support the automation of predictive online monitoring techniques in nuclear power plants to diagnose incipient faults, perform proactive maintenance, and estimate the remaining useful life of assets.

  5. Nuclear energy an asset for sustainable development

    International Nuclear Information System (INIS)

    The energy issue is now a worldwide concern. It is showed that nuclear energy combined with renewable energies are the only efficient response to face the challenge of climate warming by cutting drastically the emission of greenhouse gases in the electricity production. The second asset of nuclear energy is to be able to meet the growing need for electric power of developing countries. Energy conservation is a good thing to do in western countries but it is far to be sufficient. The success of France's nuclear energy program has enabled the country to be independent from other countries concerning its electricity production, to produce electricity at moderate and stable costs even on the long term, and to develop nuclear industry operators that are world leaders. According to the 28 june 2006 bill that clarifies the management of radioactive wastes, the disposal of high-level radioactive wastes in deep geological layers, will be put into service in 2025. The law has let the possibility of recovering the waste containers during a certain period after their burial if new solutions will have emerged. In the context of an expected renaissance of nuclear energy, the EPR (European Pressurized Reactor) is a valuable offer that must be developed. The construction of an EPR unit on the Flamanville site is necessary to perfect its design. (A.C.)

  6. Development of Mobile Mapping System for 3D Road Asset Inventory.

    Science.gov (United States)

    Sairam, Nivedita; Nagarajan, Sudhagar; Ornitz, Scott

    2016-01-01

    Asset Management is an important component of an infrastructure project. A significant cost is involved in maintaining and updating the asset information. Data collection is the most time-consuming task in the development of an asset management system. In order to reduce the time and cost involved in data collection, this paper proposes a low cost Mobile Mapping System using an equipped laser scanner and cameras. First, the feasibility of low cost sensors for 3D asset inventory is discussed by deriving appropriate sensor models. Then, through calibration procedures, respective alignments of the laser scanner, cameras, Inertial Measurement Unit and GPS (Global Positioning System) antenna are determined. The efficiency of this Mobile Mapping System is experimented by mounting it on a truck and golf cart. By using derived sensor models, geo-referenced images and 3D point clouds are derived. After validating the quality of the derived data, the paper provides a framework to extract road assets both automatically and manually using techniques implementing RANSAC plane fitting and edge extraction algorithms. Then the scope of such extraction techniques along with a sample GIS (Geographic Information System) database structure for unified 3D asset inventory are discussed. PMID:26985897

  7. Development of Mobile Mapping System for 3D Road Asset Inventory

    Science.gov (United States)

    Sairam, Nivedita; Nagarajan, Sudhagar; Ornitz, Scott

    2016-01-01

    Asset Management is an important component of an infrastructure project. A significant cost is involved in maintaining and updating the asset information. Data collection is the most time-consuming task in the development of an asset management system. In order to reduce the time and cost involved in data collection, this paper proposes a low cost Mobile Mapping System using an equipped laser scanner and cameras. First, the feasibility of low cost sensors for 3D asset inventory is discussed by deriving appropriate sensor models. Then, through calibration procedures, respective alignments of the laser scanner, cameras, Inertial Measurement Unit and GPS (Global Positioning System) antenna are determined. The efficiency of this Mobile Mapping System is experimented by mounting it on a truck and golf cart. By using derived sensor models, geo-referenced images and 3D point clouds are derived. After validating the quality of the derived data, the paper provides a framework to extract road assets both automatically and manually using techniques implementing RANSAC plane fitting and edge extraction algorithms. Then the scope of such extraction techniques along with a sample GIS (Geographic Information System) database structure for unified 3D asset inventory are discussed. PMID:26985897

  8. The Differences Between Revaluation and Assets Impairment

    Directory of Open Access Journals (Sweden)

    BOBIȚAN Nicolae

    2013-05-01

    Full Text Available Impairment and revaluation are terms closely related to one another, with subtle differences. Revaluation and impairment both require the company to evaluate the assets for their fair value, and then take appropriate action in updating the accounting books. The major difference between the two is that a revaluation can be made upwards (to increase the value of the asset to market value or downwards (to ecrease the value. An impairment, on the other hand, only refers to one of the two, a fall in the market value which is then written down. The purpose of the paper is to establish what are the differences between revaluation and impairment of assets.

  9. Financial Assets of Private Households in Austria

    OpenAIRE

    Peter Mooslechner

    1995-01-01

    The stock of financial assets owned by private households at the end of 1993 was estimated at almost Sch 2,100 billion. For the individual household this amounts to financial assets worth about Sch 660,000 on average, while indebtedness was slightly higher than Sch 260,000. These amounts may seem high but the financial wealth of Austrian households is low in an international comparison. While in the U.S., Japan, and the United Kingdom financial assets are more than twice as high as nominal gr...

  10. Asset Forfeiture Laws and Criminal Deterrence

    OpenAIRE

    Derek Johnson; Thomas J. Miceli

    2013-01-01

    Asset forfeiture laws allow the seizure of assets used in the commission of a crime. This paper examines the impact of such laws on deterrence by incorporating the possibility of asset forfeiture into the standard economic model of crime. When punishment is by a fine that can be optimally chosen, forfeiture is never optimal because of the deadweight loss it imposes in the capital market. When the fine is limited by the offender’s wealth, forfeiture may or may not be desirable. Extensions of t...

  11. The strategic importance of identifying knowledge-based and intangible assets for generating value, competitiveness and innovation in sub-Saharan Africa

    Directory of Open Access Journals (Sweden)

    Nicoline Ondari-Okemwa

    2011-01-01

    Full Text Available This article discusses the strategic importance of identifying intangible assets for creating value and enhancing competitiveness and innovation in science and technology in a knowledge economy with particular reference to the sub- Saharan Africa region. It has always been difficult to gather the prerequisite information to manage such assets and create value from them. The paper discusses the nature of intangible assets, the characteristics of a knowledge economy and the role of knowledge workers in a knowledge economy. The paper also discusses the importance of identifying intangible assets in relation to capturing the value of such assets, the transfer of intangible assets to other owners and the challenges of managing organizational intangible assets. Objectives of the article include: underscoring the strategic importance of identifying intangible assets in sub-Saharan Africa; examining the performance of intangible assets in a knowledge economy; how intangible assets may generate competitiveness, economic growth and innovation; and assess how knowledge workers are becoming a dominant factor in the knowledge economy. An extensive literature review was employed to collect data for this article. It is concluded in the article that organizations and governments in sub-Saharan Africa should look at knowledge-based assets as strategic resources, even though the traditional accounting systems may still be having problems in determining the exact book value of such assets. It is recommended that organizations and government departments in sub-Saharan Africa should implement a system of the reporting of the value of intangible organizational assets just like the reporting of the value of tangible assets; and that organizations in sub-Saharan Africa should use knowledge to produce “smart products and services” which command premium prices.

  12. The complexity classification of intangible assets

    Directory of Open Access Journals (Sweden)

    Paula-Angela Vidrascu

    2013-03-01

    Full Text Available This paper tries to solve the complex problems of arising in the definition and delimitation of the intangible assets. Over time the technology develops and resizes continuously and along with it redefine in a very short time the theoretical and practical concepts of the economy. From the economic point of view an asset can be defined as a resource controlled by the enterprise as a result of past transactions or investments, and which is expected to generate future economic benefits. Intangible assets are the most important economic resources of an entity because in terms of their analysis of the technical, material and financial ñ of her evolution over time and the ability of continuous development. The main purpose of this article is to analyse the research carried out for the purposes of the definition and delimitation of intangible assets.

  13. Asset Valuation in an Experimental Market

    OpenAIRE

    Forsythe, Robert; Palfrey, Thomas R.; Plott, Charles R.

    1982-01-01

    The time path of asset prices is studied within a stationary experimental environment. After several replications prices converge to a perfect foresight equilibrium. A sequential market having an "informational trap" and a futures market are also studied.

  14. What have we learned from asset sales?

    International Nuclear Information System (INIS)

    The author has created a database of 33 sales of generating assets and has the characteristics of those sales to estimate the value of generating assets. The authors conclusion so far is negative: the sales observed to date have varied so widely in characteristics and price that observed sales data cannot be usefully employed to forecast with any reliability the price at which some other asset is likely to sell in a subsequent auction. The author concludes this does not mean that the auction method is in any way inferior to an administrative method for determining stranded costs. It simply means that there are at present no reliable inferences which can be drawn from this process to inform the administrative process. While this situation might change as more and more assets are auctioned, there are reasons to think that this may not be the case

  15. 浅析高校餐饮部门固定资产信息化管理的必要性%Analysis on the Necessity of the Informatized Management of Fixed Asset in Food and Beverage Department of Colleges and Universities

    Institute of Scientific and Technical Information of China (English)

    吴强

    2014-01-01

    餐饮部门作为高校后勤的一个重要组成部分,是学校和社会稳定的重要因素,为了提高食品质量,政府投入了大量的资金进行固定资产的购置。探讨了高校餐饮部门固定资产信息化管理的必要性,并提出了相应的措施。%Being as an important component of the rear service of colleges and universities, the food and beverage department is an important factor for the stability of the school and society. In order to improve the food quality, the government has spent a great deal of money to purchase the fixed assets. This paper probes into the necessity of the informatized management of fixed asset in food and beverage department of colleges and universities, and puts forward some corresponding measures.

  16. Recognition of losses to impairment of assets: impairment in oil operation and production assets

    OpenAIRE

    Odilanei Morais dos Santos; Ariovaldo dos Santos; Paula Danyelle Almeida da Silva

    2011-01-01

    Losses to impairment of assets are placed in the context that assets cannot be registered above their recoverable amount, through use or sale of by the company. In the oil sector, the representativeness of exploration and production assets is relevant and meaningful. Therefore, the practice in the industry is not new and dates of the 70’s. Moreover, oil companies are obligated to publish additional information about their typical activities. Thus, the purpose is to analyze how this addition...

  17. Improving the asset pricing ability of the Consumption-Capital Asset Pricing Model?

    OpenAIRE

    Rasmussen, Anne-Sofie Reng

    2006-01-01

    This paper compares the asset pricing ability of the traditional consumption-based capital asset pricing model to models from two strands of literature attempting to improve on the poor empirical results of the C-CAPM. One strand is based on the intertemporal asset pricing model of Campbell (1993, 1996) and Campbell and Vuolteenaho (2004). The model takes the traditional C-CAPM as its starting point, but substitutes all references to consumption out, as empirical consumption data is assumed t...

  18. The Asset Allocation of Private Pension Plans

    OpenAIRE

    Papke, Leslie E.

    1991-01-01

    This paper summarizes the Form 5500 data on private pension fund investment. Using Form 5500 data from 1981 to 1987, the asset allocation of single employer and mu1tiemp1oyer defined benefit and defined contribution plans is reported, as well as the asset mix of the following subgroups: defined benefit plans categorized by plan funding ratio, sole and multiple defined contribution plans, savings or thrift, money purchase, ESOP, and 401(k) defined contribution plans. A brief survey of the lite...

  19. Household Assets and Rural Finance in Nigeria

    OpenAIRE

    Onafowokan O. Oluyombo

    2013-01-01

    The study assesses the roles played by the loan service of cooperatives on household assets acquisition among cooperative members in rural communities of Ogun State where there is no bank.Independent student test and one way analysis of variance were used to analyze the data collected through questionnaire from 302 members. The study shows that the following assets – land, generator, television, radio and refrigerator – were more likely to be acquired by members than non-members. This is an i...

  20. Asset pricing and capital structure of SMEs

    OpenAIRE

    Crain, Michael Alan

    2013-01-01

    This thesis examines asset pricing and capital structure of small- and medium-sized enterprises (SMEs) in three essays. Firm finance and asset pricing are areas of voluminous research in the literature. Most of this research observes firms trading on public stock exchanges. In my thesis, I examine privately-owned SMEs where relatively little research has been done. I use a proprietary database of over 16,000 SMEs that sold from 1990 to 2010, reporting market valuations and accounting informat...

  1. Executive compensation based on asset values

    OpenAIRE

    Hans Bystrom

    2012-01-01

    This paper describes how credit default swaps could be employed to create performance based executive compensation portfolios that reflect the value of a firm's debt as well as equity; i.e. the total value of all a firm's assets. We define so-called Asset Value Unit (AVU) compensation portfolios that work both for executive- and non-executive pay schemes in financial as well as non-financial firms.

  2. Systemic Risks, Financial Intermediaries, and Asset Markets

    OpenAIRE

    Gandhi, Priyank

    2012-01-01

    The credit crisis of 2007-2009 has sparked an enormous interest in the role that financial intermediaries play in our economy. Recent literature examines how financial intermediaries affect not only macro-economic variables but also asset markets such as the stock and the bond markets. The underlying theme in this recent literature is that the function of financial intermediaries in our asset markets is not yet completely understood and requires further study. This dissertation is based on th...

  3. Fed asset buying and private borrowing rates

    OpenAIRE

    Bauer, Michael D.

    2012-01-01

    Past rounds of large-scale asset purchases by the Federal Reserve have lowered yields not only on the targeted securities, but also on various private borrowing rates. In particular, yields on corporate bonds and primary mortgage rates decreased in response to Fed asset purchase announcements. Notably, however, the link between rates on mortgage-backed securities and actual mortgage rates has weakened in the wake of the financial crisis.

  4. Integrating ESRI GIS with asset database

    OpenAIRE

    Škerjanc, Matej

    2013-01-01

    Elektro Celje d.d. is one of the five Slovenian distributers of electrical energy. They keep records of their electric distribution network in several different computer systems. For their business system and records of their fixed assets they use “Baza tehničnih podatkov” (BTP, angl. database of technical data). Information about the geographical location of the assets is stored in the geographic information system (GIS). Such data sharing without interconnection is causing problems to the c...

  5. Inference, arbitrage, and asset price volatility

    OpenAIRE

    Adrian, Tobias

    2004-01-01

    This paper models the impact of arbitrageurs on stock prices when arbitrageurs are uncertain about the drift of the dividend process of a risky asset. Under perfect information, the presence of risk-neutral arbitrageurs unambiguously reduces the volatility of asset returns. When arbitrageurs are uncertain about the drift of the dividend process, they condition their investment strategy on the observation of dividends and trading volume. In such a setting, the presence of arbitrageurs can lead...

  6. A review of capital asset pricing models

    OpenAIRE

    Don U.A. Galagedera

    2007-01-01

    Purpose -The main aspect of security analysis is its valuation through a relationship between the security return and the associated risk. The purpose of this paper is to review the traditional capital asset pricing model (CAPM) and its variants adopted in empirical investigations of asset pricing. Design/methodology/approach -Pricing models are discussed under five categories: the single-factor model, multifactor models, CAPM with higher order systematic co-moments, CAPM conditional on marke...

  7. Financial Risk Aversion and Household Asset Diversification

    OpenAIRE

    Barasinska, Nataliya; Schäfer, Dorothea; Stephan, Andreas

    2008-01-01

    This paper explores the relationship between risk attitude and asset diversification in household portfolios. We first examine the impact of manifested risk aversion on the total number of distinct assets held in a portfolio (naive diversification). The second part of the paper focuses on a more sophisticated strategy of diversification and asks whether financial theory is compatible with observed diversification patterns. Based on the German Socioeconomic Panel which provides unique measures...

  8. Financial Contagion and Asset Liquidation Strategies

    OpenAIRE

    Zachary Feinstein

    2015-01-01

    This paper provides a framework for modeling the financial system with multiple illiquid assets during a crisis. This extends the network model of Cifuentes, Shin & Ferrucci (2005) that incorporates a single asset with fire sales. We prove sufficient conditions for the existence and uniqueness of equilibrium clearing payments and liquidation prices. We prove sufficient conditions for the existence of an equilibrium liquidation strategy with corresponding clearing payments and liquidation pric...

  9. Entropy-Based Financial Asset Pricing

    OpenAIRE

    Mihaly Ormos; David Zibriczky

    2014-01-01

    We investigate entropy as a financial risk measure. Entropy explains the equity premium of securities and portfolios in a simpler way and, at the same time, with higher explanatory power than the beta parameter of the capital asset pricing model. For asset pricing we define the continuous entropy as an alternative measure of risk. Our results show that entropy decreases in the function of the number of securities involved in a portfolio in a similar way to the standard deviation, and that eff...

  10. Evaluating Asset Pricing Implications of DSGE Models

    OpenAIRE

    Reffett, Kevin L; Frank Schorfheide

    2000-01-01

    This paper conducts an econometric evaluation of structural macroeconomic asset pricing models. A one-sector dynamic stochastic general equilibrium model (DSGE) with habit formation and capital adjustment costs is considered. Based on the log-linearized DSGE model, a Gaussian probability model for the joint distribution of aggregate consumption, investment, and a vector of asset returns R(t) is specified. We facilitate the stochastic discount factor M(t) representation obtained from the DSGE ...

  11. Econometric evaluation of asset pricing models

    OpenAIRE

    Ferson, Wayne E; Ravi Jagannathan

    1996-01-01

    We provide a brief review of the techniques that are based on the Generalized Method of Moments (GMM) and used for evaluating capital asset pricing models. We first develop the CAPM and multi-beta models and discuss the classical two-stage regression method originally used to evaluate them. We then describe the pricing kernel representation of a generic asset pricing model; this representation facilitates use of the GMM in a natural way for evaluating the conditional and unconditional version...

  12. Empirical Testing of Asset Pricing Models

    OpenAIRE

    Bruce N. Lehmann

    1992-01-01

    This essay reviews the extensive literature on empirical testing of asset pricing models. It briefly describes the kinds of asset pricing models typically tested in the literature and explicates their econometric implications, both in terms of the estimation of relevant parameters and tests of their implied restrictions. Pertinent aspects of the available data on security prices and macroeconomic variables are discussed as well. The essay concludes with the examination of selected aspects of ...

  13. Last Mile Asset Monitoring; Low Cost Rapid Deployment Asset Monitoring

    Science.gov (United States)

    Zumr, Zdenek

    high levels of harmonic distortion. The excessive loading and harmonic profile can potentially result in damaging heat build-up resulting in asset degradation. In this thesis I present a device and method that monitors pole mounted distribution transformers for overheating, collect and wirelessly upload data and initiate commands to chargers to change output levels from Level 2 to Level 1 or shut down EV charging altogether until the transformer returns into safe operational range.

  14. 久期与免除战略在资产—负债管理中的应用原理初探%Exploration of Principle for Applying Duration and Immunization in Assets-Liabilities Management

    Institute of Scientific and Technical Information of China (English)

    崔玉杰; 李炅宇; 沈愉

    2001-01-01

    Based on the basic concept of the bond, and the viewpoint and method of financial mathematics, the definition and nature of duration are described; and by its nature, the basic principle of immunization strategy is analyzed. The analysis of varies immunization strategies is of practical significance to the investment of fixed return asset under China's oncoming interest rate marketization.%从债券最基本的概念入手,利用金融数学的观点方法,阐明久期的定义、性质,利用其性质分析免除战略的基本原理.各种免除战略模型的分析对我国即将到来的利率市场化条件下如何进行固定收益资产的投资具有现实意义.

  15. 5 CFR 4001.105 - Purchase of System institution assets.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Purchase of System institution assets....105 Purchase of System institution assets. (a) Prohibition on purchasing assets owned by a System... asset (such as real property, vehicles, furniture, or similar items) from a System institution...

  16. 48 CFR 28.203-2 - Acceptability of assets.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Acceptability of assets... Acceptability of assets. (a) The Government will accept only cash, readily marketable assets, or irrevocable... underlying bond obligations. (b) Acceptable assets include— (1) Cash, or certificates of deposit, or...

  17. 16 CFR 802.50 - Acquisitions of foreign assets.

    Science.gov (United States)

    2010-01-01

    ... 16 Commercial Practices 1 2010-01-01 2010-01-01 false Acquisitions of foreign assets. 802.50... Acquisitions of foreign assets. (a) The acquisition of assets located outside the United States shall be exempt from the requirements of the act unless the foreign assets the acquiring person would hold as a...

  18. 12 CFR 28.20 - Maintenance of assets.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Maintenance of assets. 28.20 Section 28.20... ACTIVITIES Federal Branches and Agencies of Foreign Banks § 28.20 Maintenance of assets. (a) General rule. (1... certain assets in the state in which its Federal branch or agency is located. Those assets may...

  19. 26 CFR 301.7507-3 - Segregated or transferred assets.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 18 2010-04-01 2010-04-01 false Segregated or transferred assets. 301.7507-3... States § 301.7507-3 Segregated or transferred assets. (a) In general. In a case involving segregated or transferred assets, it is not necessary, for application of section 7507, that the assets shall...

  20. 5 CFR 4101.105 - Purchase of System institution assets.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Purchase of System institution assets... assets. (a) Prohibition on purchasing assets owned by a System institution. No covered employee, or spouse or minor child of a covered employee, shall purchase, directly or indirectly, an asset (such...