WorldWideScience

Sample records for assets

  1. 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

  2. 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...

  3. Capital Structure and Assets

    DEFF Research Database (Denmark)

    Flor, Christian Riis

    2008-01-01

    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...

  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. 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...

  6. 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...

  7. 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...

  8. 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

  9. 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...

  10. 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...

  11. 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.

  12. 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 ...

  13. 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...

  14. 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...

  15. 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...

  16. Distributed charging of electrical assets

    Energy Technology Data Exchange (ETDEWEB)

    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.

  17. 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.

  18. 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...

  19. Real Assets and Capital Structure

    NARCIS (Netherlands)

    M. Campello; E. Giambona

    2013-01-01

    We characterize the relation between asset structure and capital structure by exploiting variation in the salability of corporate assets. To establish this link, we distinguish across different assets in firms’ balance sheets (machinery, land, and buildings) and use an instrumental approach that inc

  20. 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...

  1. 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...

  2. 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...

  3. 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 ...

  4. 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 ...

  5. 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.

  6. 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...

  7. 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...

  8. 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...

  9. INNOVATION IN ACCOUNTING BIOLOGIC ASSETS

    Directory of Open Access Journals (Sweden)

    Stolуarova M. A.

    2016-09-01

    Full Text Available The article describes the innovations in the classification and measurement of biological assets according to IFRS (IAS 41 "Agriculture". The difficulties faced by agricultural producers using standard, set out in article. The classification based on the adopted amendments, according to which the fruit-bearing plants, previously accounted for as biological assets are measured at fair value are included in the category of fixed assets. The structure of biological assets and main means has been studied in trials. Changes made to the IFRS (IAS 41 "Agriculture", make similar national and international accounting rules. In this way, the fruit-bearing plants are carried at cost, taking into account accumulated depreciation. This approach is similar in both accounting systems. The method of accounting of fruit-bearing assets, which after maturation are not significant biotransformation in the value, has been simplifying accounting. According to the fruit-bearing assets, active market was absent; therefore, the estimation of fair value for them is not correct. The model of using fruit-bearing assets is similar to the use of industrial equipment. Historical cost is more appropriate and meets economic substance of the objects. Assessment of performance of fruit-bearing assets and indicators of their use is represented on an example of perennial crops

  10. 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.

  11. 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,…

  12. 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

  13. Asset management techniques for transformers

    Energy Technology Data Exchange (ETDEWEB)

    Abu-Elanien, Ahmed E.B.; Salama, M.M.A. [University of Waterloo, Waterloo, ON (Canada)

    2010-04-15

    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)

  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. 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....

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

    Energy Technology Data Exchange (ETDEWEB)

    Shoemaker, P.; Cislo, D. [AREVA NP Inc., Lynchburg, Virginia (United States)]. E-mail: paul.shoemaker@areva.com

    2006-07-01

    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

  19. 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

  20. 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...

  1. 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

  2. 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.

  3. 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...

  4. 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...

  5. Asset tracking in harsh environments

    Energy Technology Data Exchange (ETDEWEB)

    O' Neal, E.S. [Infosight Corp., Chillicothe, OH (United States)

    2009-07-01

    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)

  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 perspectiv...

  7. 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

  8. 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.

  9. 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.

  10. 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)

  11. 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.

  12. 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.

  13. Optimal Investment Strategy for Risky Assets

    OpenAIRE

    Sergei Maslov; Yi-Cheng Zhang

    1998-01-01

    We design an optimal strategy for investment in a portfolio of assets subject to a multiplicative Brownian motion. The strategy provides the maximal typical long-term growth rate of investor's capital. We determine the optimal fraction of capital that an investor should keep in risky assets as well as weights of different assets in an optimal portfolio. In this approach both average return and volatility of an asset are relevant indicators determining its optimal weight. Our results are parti...

  14. 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...

  15. 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...

  16. 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...

  17. 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...

  18. 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...

  19. 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…

  20. 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.…

  1. Intelligent tactical asset allocation support system

    NARCIS (Netherlands)

    Hiemstra, Y.

    1995-01-01

    This paper presents an advanced support system for Tactical Asset Allocation. Asset allocation explains over 90% of portfolio performance (Brinson, Hood and Beebower, 1988). Tactical asset allocation adjusts a strategic portfolio on the basis of short term market outlooks. The system includes apredi

  2. 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.

  3. 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.

  4. 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.

  5. 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...

  6. 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...

  7. 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...

  8. 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...

  9. INNOVATION AMONG INTANGIBLE ASSETS (IA

    Directory of Open Access Journals (Sweden)

    Paula - Angela VIDRAȘCU

    2015-04-01

    Full Text Available The purpose of this article is to highlight the existence and importance of innovation present among intangible assets. In the new economy, the knowledge society, innovation is one of the most commonly used terms, along with globalization and sustainable development. This study has an important role in both the short and long term, through proper understanding of the terms of innovation, intangible assets and strategy. The primary purpose of this article is played by understanding and easy identification of innovation amongst those assets above. Most recent studies highlight the idea that can be identified more indirect benefits of innovation. These can be listed as follows: improving the image, better customer loyalty, and ability to attract new ones. This research was focused on the advice of the Executive Directors given by the study of the year 2011 from PricewaterhouseCoopers, on innovation as a means of running the enterprise and also throughout this study we have been highlighted misconceptions related innovation and last but not least the study conducted during 2001 - 2004 by the Romanian Government in order to place a strategic priority Scientific Research.

  10. 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

  11. 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

  12. 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

  13. 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.

  14. 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

  15. 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...

  16. 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...

  17. 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...

  18. 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...

  19. 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 ...

  20. 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 ...

  1. 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...

  2. 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 ...

  3. 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.

  4. The Q theory of investment, the capital asset pricing model,and asset valuation: a synthesis

    Institute of Scientific and Technical Information of China (English)

    MCDONALDJohnF.

    2004-01-01

    The paper combines Tobin's Q theory of real investment with the capital asset pricing model to produce a new and relatively simple procedure for the valuation of real assets using the income approach. Applications of the new method are provided.

  5. 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...

  6. On the management and operation of enterprises intangible asset

    Science.gov (United States)

    Zhu, Yu; Wang, Hong

    2011-10-01

    Since entering the knowledge economy, the management of intangible assets becomes an important part of manage, this article discusses the problem of management on intangible assets, the properties of intangible assets, and the channels of management and operation on intangible assets, and stressed the important role of intangible assets in the development and innovation of the enterprise.

  7. 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......' returns and the riskiness of corporate ownership. To remunerate this higher volatility and stronger risk, firms' equities have to grant high return. This mechanism is able to offer an explanation of for the "equity puzzle", that is it can explain the difference between equity returns and the risk free...... rate. It is a welcome result that the simulated excess return is about the empirical estimate and this result is obtained with a logarithmic specification of the shareholders preferences....

  8. 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

  9. 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.

  10. 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... COMPETITIVE PRODUCTS ENTERPRISE § 3060.12 Asset allocation. Within 6 months of January 23, 2009, and for each... competitive products enterprise using a method of allocation based on appropriate revenue or cost...

  11. Road map voor technologische uitdagingen Asset Management

    NARCIS (Netherlands)

    Peelen, W.H.A.; Mookhoek, S.D.

    2013-01-01

    Omdat Asset Management steeds belangrijker wordt, heeft TNO een Road Map opgesteld waarin staat welke meet-, model- wn simulatietechnieken (MMS) in de toekomst voor goed Asset Management ontwikkeld moeten worden. Het doel is te komen tot hoogwaardige technologie voor de ondersteuning van beheer en o

  12. 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.

  13. 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.

  14. 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...

  15. 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.

  16. 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.

  17. 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.

  18. APPROACHES CONCERNING ACCOUNTING OF INTANGIBLE ASSETS

    Directory of Open Access Journals (Sweden)

    Gheorghe MOROSAN

    2016-02-01

    Full Text Available Given the importance of intangible assets in the company the paper aims to establish criteria for recognizing and measuring these assets through which the company can not only reflect the true value and its carrying amount. The main objective is to formulate a logical definition of intangible assets in accounting terms that allows their recognition in financial reporting to help build an accurate image of the company. It will demonstrate how important intangible assets for a successful company are and how they can help develop the economy and especially the Romanian economy. The secondary objectives are: - Setting limits in the valuation of intellectual capital from the point of view of internal control and external - Create a new post in the balance sheet to include this related value

  19. 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)

  20. Asset Ownership and Foreign-Market Entry

    OpenAIRE

    Raff, Horst; Ryan, Michael; Stähler, Frank

    2006-01-01

    This paper examines the link between a firm's ownership of productive assets and its choice of foreign-market entry strategy. We find that, controlling for industry- and country-specific characteristics, the most productive firms (i.e., those owning the most assets) will enter through greenfield investment, less productive ones will choose M&A, and the least productive ones will export. In addition, the most productive firms are shown to prefer whole ownership to a joint venture. These predic...

  1. Material planning for remanufacturing defense assets

    OpenAIRE

    Ferrer, Geraldo

    2009-01-01

    This paper develops a planning system for depots remanufacturing components of defense assets, such as helicopters, armored cars, and so forth. These depots take in used assets, disassemble them, repair, upgrade and reassemble them to supply US troops and, occasionally, foreign military services of allied nations. Uncertainty in the supply of used components, the yield of good parts, and the demand for remanufactured products makes this a difficult process to manage. This article describes a ...

  2. 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...

  3. 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,...

  4. 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...

  5. 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...

  6. 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...

  7. 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

  8. 12 CFR 615.5209 - Deferred-tax assets.

    Science.gov (United States)

    2010-01-01

    ... POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Capital Adequacy § 615.5209 Deferred-tax assets. For purposes of calculating capital ratios under this part, deferred-tax assets are subject to the conditions... deferred-tax assets, net of any valuation allowance, from its assets and its total capital that is equal...

  9. System and Method for Monitoring Distributed Asset Data

    Science.gov (United States)

    Gorinevsky, Dimitry (Inventor)

    2015-01-01

    A computer-based monitoring system and monitoring method implemented in computer software for detecting, estimating, and reporting the condition states, their changes, and anomalies for many assets. The assets are of same type, are operated over a period of time, and outfitted with data collection systems. The proposed monitoring method accounts for variability of working conditions for each asset by using regression model that characterizes asset performance. The assets are of the same type but not identical. The proposed monitoring method accounts for asset-to-asset variability; it also accounts for drifts and trends in the asset condition and data. The proposed monitoring system can perform distributed processing of massive amounts of historical data without discarding any useful information where moving all the asset data into one central computing system might be infeasible. The overall processing is includes distributed preprocessing data records from each asset to produce compressed data.

  10. A Model for Bank’s Optimal Asset Securitization Program

    OpenAIRE

    Masahiko Egami; Kaoru Hosono

    2010-01-01

    We propose a framework to examine banks’ asset securitization program. It provides a comprehensive view that explains various separate findings and claims in the literature. We derive optimal timing and quantity of banks’ asset securitization by explicitly incorporating stochastic asset returns and leverage constraints. We also quantify how much additional value can be created by asset securitization program, which gives some insights into why banks securitize assets. We further conduct some ...

  11. Agility in asset management, or: how to be flexible with assets designed for stability

    NARCIS (Netherlands)

    Ruitenburg, R.J.; Braaksma, A.J.J.; Dongen, van L.A.M.

    2016-01-01

    Agility is increasingly important in manufacturing. However, thus far little attention has been paid to the agility of the physical assets used in production, which are typically designed for decades of operation in a stable context. This paper investigates the topic of agile Asset Management using

  12. Macroeconomic Dynamics of Assets, Leverage and Trust

    Science.gov (United States)

    Rozendaal, Jeroen C.; Malevergne, Yannick; Sornette, Didier

    A macroeconomic model based on the economic variables (i) assets, (ii) leverage (defined as debt over asset) and (iii) trust (defined as the maximum sustainable leverage) is proposed to investigate the role of credit in the dynamics of economic growth, and how credit may be associated with both economic performance and confidence. Our first notable finding is the mechanism of reward/penalty associated with patience, as quantified by the return on assets. In regular economies where the EBITA/Assets ratio is larger than the cost of debt, starting with a trust higher than leverage results in the highest long-term return on assets (which can be seen as a proxy for economic growth). Therefore, patient economies that first build trust and then increase leverage are positively rewarded. Our second main finding concerns a recommendation for the reaction of a central bank to an external shock that affects negatively the economic growth. We find that late policy intervention in the model economy results in the highest long-term return on assets. However, this comes at the cost of suffering longer from the crisis until the intervention occurs. The phenomenon that late intervention is most effective to attain a high long-term return on assets can be ascribed to the fact that postponing intervention allows trust to increase first, and it is most effective to intervene when trust is high. These results are derived from two fundamental assumptions underlying our model: (a) trust tends to increase when it is above leverage; (b) economic agents learn optimally to adjust debt for a given level of trust and amount of assets. Using a Markov Switching Model for the EBITA/Assets ratio, we have successfully calibrated our model to the empirical data of the return on equity of the EURO STOXX 50 for the time period 2000-2013. We find that dynamics of leverage and trust can be highly nonmonotonous with curved trajectories, as a result of the nonlinear coupling between the variables. This

  13. 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.

  14. Entropy-based financial asset pricing.

    Science.gov (United States)

    Ormos, Mihály; Zibriczky, Dávid

    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 efficient portfolios are situated on a hyperbola in the expected return-entropy system. For empirical investigation we use daily returns of 150 randomly selected securities for a period of 27 years. Our regression results show that entropy has a higher explanatory power for the expected return than the capital asset pricing model beta. Furthermore we show the time varying behavior of the beta along with entropy.

  15. Entropy-based financial asset pricing.

    Directory of Open Access Journals (Sweden)

    Mihály Ormos

    Full Text Available 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 efficient portfolios are situated on a hyperbola in the expected return-entropy system. For empirical investigation we use daily returns of 150 randomly selected securities for a period of 27 years. Our regression results show that entropy has a higher explanatory power for the expected return than the capital asset pricing model beta. Furthermore we show the time varying behavior of the beta along with entropy.

  16. CREATIVE ACCOUNTING – TANGIBLE ASSETS AND AMORTIZATION

    Directory of Open Access Journals (Sweden)

    PARTENIE DUMBRAVĂ

    2012-05-01

    Full Text Available Evaluation is a necessary first order and consists of expressed using monetary standard the assets, processes and resources of the entities. Economic entities and their leaders have different techniques for handling information presented in the annual statements: to influence the results or to change the entity financial position. The most used creative accounting techniques for tangible assets are the following: treatment of amortization and impairments policy, the revaluation of tangible assets, capitalization of expenses subsequent to commissioning (capitalize or not the expenses and treatment of development costs. The objective of this paper is to present the influence of the amortization policy used by entities in Romania and Hungary by a case study on the annual financial statements.

  17. 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...

  18. 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...

  19. 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

  20. Hedging contingent claims on defaultable assets

    Science.gov (United States)

    Beumee, Johan G. B.

    2001-02-01

    Following the JLT model (Jarrow, Lando and Turnbull), this paper represents a defaultable asset as a continuous stochastic process plus a Poisson jump modelling the bankruptcy event. It is shown that if the recovery condition is known beforehand, a contingent claim can be hedged by a position in the defaultable asset and a risk-free instrument. In addition, the claim must satisfy a jump-diffusion equation and a risk-neutral representation is obtained using this equation. Examples include the price of a risky zero-coupon bond with a fixed recovery value and the prices of risky Call/Put options on corporate instruments (instrument terminates upon default).

  1. Optimal Monetary Policy under Asset Market Segmentation

    OpenAIRE

    Rajesh Singh; Amartya Lahiri; Carlos Vegh

    2007-01-01

    This paper studies optimal monetary policy in a small open economy under flexible prices. The paper’s key innovation is to analyze this question in the context of environments where only a fraction of agents participate in asset market transactions (i.e., asset markets are segmented). In this environment, we first show that there exist state contingent rules (based either on the rate of money growth or the devaluation rate) that can implement the first-best equilibrium. Such rules, however,...

  2. 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

  3. A simplified Capital Asset Pricing Model

    OpenAIRE

    Vovk, Vladimir

    2011-01-01

    We consider a Black-Scholes market in which a number of stocks and an index are traded. The simplified Capital Asset Pricing Model is the conjunction of the usual Capital Asset Pricing Model, or CAPM, and the statement that the appreciation rate of the index is equal to its squared volatility plus the interest rate. (The mathematical statement of the conjunction is simpler than that of the usual CAPM.) Our main result is that either we can outperform the index or the simplified CAPM holds.

  4. Asset Stripping in a Mature Market Economy

    DEFF Research Database (Denmark)

    Klarskov Jeppesen, Kim; Møller, Ulrik Gorm

    2011-01-01

    indicates that asset stripping may take place in mature market economies to the extent that perpetrators are able to circumvent the corporate governance system by giving lawyers, public accountants and banks incentives to act less critically towards dubious business transactions. Research limitations...... is to analyse why the asset-stripping schemes occurred in a mature market economy with a strong corporate governance system and a low level of corruption. Design/methodology/approach – The research is conducted as a longitudinal single case study based on documentary research. Findings – The Danish case...

  5. Assessing environmental dependence using asset and income measures

    DEFF Research Database (Denmark)

    Charlery, Lindy Callen; Walelign, Solomon Zena

    2015-01-01

    on income and asset measures. Using a composite asset index, we were able to distinguish the asset poor from the asset non-poor. We then combined income data with the asset index, enabling us to disentangle the stochastic and structural nature of poverty. The distribution of poor and non-poor households...... based on income measures was significantly different from that based on asset measures. The income poor are substantially more dependent on environmental resources than the income non-poor (about 15% difference) while strikingly minimal difference was observed in environmental dependence between...

  6. THEORETICAL ASPECTS REGARDING THE VALUATION OF INTANGIBLE ASSETS

    Directory of Open Access Journals (Sweden)

    HOLT GHEORGHE

    2015-03-01

    Full Text Available Valuation of intangible assets represents one of the most delicate problems of assessing a company. Usually, valuation of intangible assets is in the process of evaluating enterprise as a whole. Therefore, Intangible Asset Valuers must have detailed knowledge on business valuation, in particular, the income-based valuation methods (capitalization / updating net cash flow. Valuation of Intangible Assets is the objective of the International Valuation Standards (GN 4 Valuation of Intangible Assets (revised 2010. Next to it was recently proposed GN 16 Valuation of Intangible Assets for IFRS reporting. International Accounting Standard (IAS 38 Intangible Assets prescribe the accounting treatment for intangible assets, analyze the criteria that an intangible asset must meet to be recognized, specific carrying amount of intangible assets and sets out requirements for disclosure of intangible assets. From an accounting perspective, relevant professional accounting standards and the following: IFRS 3 Business Combinations, IAS 36 Impairment of Assets and SFAS 157 fair value measurement, developed by the FASB. There is a more pronounced near the provisions of IAS 38 contained in GN 4. Therefore, a good professional intangible asset valuation must know thoroughly the conditions, principles, criteria and assessment methods recognized by those standards

  7. Asset-Based Measurement of Poverty

    Science.gov (United States)

    Brandolini, Andrea; Magri, Silvia; Smeeding, Timothy M.

    2010-01-01

    Poverty is generally defined as income or expenditure insufficiency, but the economic condition of a household also depends on its real and financial asset holdings. This paper investigates measures of poverty that rely on indicators of household net worth. We review and assess two main approaches followed in the literature: income-net worth…

  8. Data issues for practical asset management

    Energy Technology Data Exchange (ETDEWEB)

    Bergman, W.; Meehan, J. [PowerNex Associates Inc., Toronto, ON (Canada)

    2007-07-01

    This paper presented opportunities for improvement of an electric utility's asset management processes, with particular reference to transmission utilities. The objective was to offer support for future maintenance and reinvestment decisions for assets such as disconnect switches and protection systems. Several recommendations were presented to help utilities quantify the state of assets and the risk to transmission system performance. Issues dealing with data gathering and condition assessment were considered. The basic approach to asset management decisions for disconnect switches and protection systems included a best practice survey; an infrared survey; a review of criticality criteria; maintenance practices; and, the possibility of refurbishment. It was noted that although there is minimal information on the performance or condition of switches, much is known about switch deficiencies. Therefore, data can be gathered to identify poor designs and substantiate changes to switch specifications and maintenance practices. Performance is the key driver for protection equipment. As such, a complete analysis of each protection operation is needed in order to understand the actual protection reliability and success. 1 tab., 1 fig.

  9. Sinopec Goes After Oil Assets Worldwide

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ US$2.45b deal to gain reserves of 393m barrels of crude equivalent China's enterprises eye global expansion via mergers and acquisitions in 2010 as the country's economic power increases.China Petrochemical Corporation (Sinopec),Asia's largest oil refiner, plans to purchase the entire oil and gas assets in the Argentinean arm of US-based Occidental Petroleum Corp.

  10. Regionalisation of asset values for risk analyses

    Directory of Open Access Journals (Sweden)

    A. H. Thieken

    2006-01-01

    Full Text Available In risk analysis there is a spatial mismatch of hazard data that are commonly modelled on an explicit raster level and exposure data that are often only available for aggregated units, e.g. communities. Dasymetric mapping techniques that use ancillary information to disaggregate data within a spatial unit help to bridge this gap. This paper presents dasymetric maps showing the population density and a unit value of residential assets for whole Germany. A dasymetric mapping approach, which uses land cover data (CORINE Land Cover as ancillary variable, was adapted and applied to regionalize aggregated census data that are provided for all communities in Germany. The results were validated by two approaches. First, it was ascertained whether population data disaggregated at the community level can be used to estimate population in postcodes. Secondly, disaggregated population and asset data were used for a loss evaluation of two flood events that occurred in 1999 and 2002, respectively. It must be concluded that the algorithm tends to underestimate the population in urban areas and to overestimate population in other land cover classes. Nevertheless, flood loss evaluations demonstrate that the approach is capable of providing realistic estimates of the number of exposed people and assets. Thus, the maps are sufficient for applications in large-scale risk assessments such as the estimation of population and assets exposed to natural and man-made hazards.

  11. 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

  12. 12 CFR 347.210 - Asset maintenance.

    Science.gov (United States)

    2010-01-01

    ..., exclusive of liabilities due to the foreign bank's head office, other branches, agencies, offices, or wholly owned subsidiaries. The Director of the Division of Supervision and Consumer Protection or his designee... affiliates; (2) Any asset classified “Value Impaired,” to the extent of the required Allocated Transfer...

  13. Asset Pricing Restrictions on Predictability : Frictions Matter

    NARCIS (Netherlands)

    F.A. de Roon (Frans); M. Szymanowska (Marta)

    2011-01-01

    textabstractU.S. stock portfolios sorted on size, momentum, transaction costs, M/B, I/A and ROA ratios, and industry classi…cation show considerable levels and variation of return predictability, inconsistent with asset pricing models. This means that a predictable risk premium is not equal to compe

  14. Catholic Identity Remains a Public Relations Asset

    Science.gov (United States)

    Wirth, Eileen

    2004-01-01

    The massive sex scandal that rocked the Roman Catholic Church raises a question as to whether Catholic identity remains an asset that the nation's 8,000 Catholic schools should continue to promote. This case study found that continuing to promote Catholic identity has had no adverse effect on recruitment and enrollment at four Omaha, Nebraska,…

  15. 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

  16. 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

  17. Introducing HEAL: The Health Education Assets Library.

    Science.gov (United States)

    Candler, Chris S.; Uijtdehaage, Sebastian H. J.; Dennis, Sharon E.

    2003-01-01

    Describes the development of a new Health Education Assets Library (HEAL), a freely accessible, national library of high-quality digital multimedia to support all levels of health sciences education. HEAL's primary mission is to provide educators with high-quality and free multimedia materials (such as images and videos) to augment health science…

  18. Ambiguity and Volatility : Asset Pricing Implications

    NARCIS (Netherlands)

    Pataracchia, B.

    2011-01-01

    Using a simple dynamic consumption-based asset pricing model, this paper explores the implications of a representative investor with smooth ambiguity averse preferences [Klibano¤, Marinacci and Mukerji, Econometrica (2005)] and provides a comparative analysis of risk aversion and ambiguity aversion.

  19. Assets of Nation (Pyramid of Economic Development)

    OpenAIRE

    Ahmed, Ovais; mashkoor, Aasim

    2015-01-01

    The theory of economic development have designed to explore the assets of nations which explain and analyzed the emphasize on Water crisis, deforestation, land of agriculture for yield and minerals. these are the main resources of improving and generating economic health. we analyzed further significant factors which help to designed the qualitative theory of economic development.

  20. 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.

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

    DEFF Research Database (Denmark)

    Rasmussen, Anne-Sofie Reng

    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 to be error ridden. The other strand to be investigated is based on the premise that the C-CAPM is only...... able to price assets conditionally as suggested by Cochrane (1996) and Lettau and Ludvigson (2001b). The unconditional C-CAPM is rewritten as a scaled factor model using the approximate log consumptionwealth ratio cay, developed by Lettau and Ludvigson (2001a), as scaling variable. The models are...

  2. Fixed Costs and Asset Market Participation Fixed Costs and Asset Market Participation

    Directory of Open Access Journals (Sweden)

    Harold H. Zhang

    2000-03-01

    Full Text Available This paper investigates the effects of fixed costs on investor's decision of asset market participation. The model features a continuum of agents with heterogeneous initial wealth and attitude toward risk. We show that under certain conditions there exists a unique competitive equilibrium in which investors optimally choose to stay in autarky, participate just in the riskless asset market or in both the riskless and the risky asset markets. The model is calibrated based on earnings profile from the U.S. We find that using fixed costs that are comparable to the current commission charged by brokers the model can generate participation patterns similar to observed ones. Further, we find participation rates to be very sensitive to the costs differentials associated with entering the risky asset market while relatively less sensitive to the overall levels of fixed costs. Finally, we find that costs make it even harder for dynamic models to replicate the risk free rate and in that sense deepen that puzzle. This paper investigates the effects of fixed costs on investor's decision of asset market participation. The model features a continuum of agents with heterogeneous initial wealth and attitude toward risk. We show that under certain conditions there exists a unique competitive equilibrium in which investors optimally choose to stay in autarky, participate just in the riskless asset market or in both the riskless and the risky asset markets. The model is calibrated based on earnings profile from the U.S. We find that using fixed costs that are comparable to the current commission charged by brokers the model can generate participation patterns similar to observed ones. Further, we find participation rates to be very sensitive to the costs differentials associated with entering the risky asset market while relatively less sensitive to the overall levels of fixed costs. Finally, we find that costs make it even harder for dynamic models to replicate

  3. THEORETICAL ASPECTS REGARDING THE VALUATION OF INTANGIBLE ASSETS

    OpenAIRE

    HOLT GHEORGHE

    2015-01-01

    Valuation of intangible assets represents one of the most delicate problems of assessing a company. Usually, valuation of intangible assets is in the process of evaluating enterprise as a whole. Therefore, Intangible Asset Valuers must have detailed knowledge on business valuation, in particular, the income-based valuation methods (capitalization / updating net cash flow). Valuation of Intangible Assets is the objective of the International Valuation Standards (GN) 4 Valuation of Intangible A...

  4. Tangible fixed assets in Czech accounting regulation and International standards

    OpenAIRE

    Vojířová, Tereza

    2015-01-01

    In my bachelor thesis, I will discuss the comparison of reporting of tangible fixed assets in according Czech accounting regulation and according to International Financial Reporting Standards. In the first part the tangible fixed assets are described according to the Czech legal accounting regulation. After that are defined the main differences in reporting of tangible fixed assets in comparison with IFRS. In next part I focus on the specific issue of reporting tangible fixed assets in real ...

  5. 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...

  6. Information spillovers in asset markets with correlated values

    OpenAIRE

    Asriyan, Vladimir; Fuchs, William; Green, Brett

    2015-01-01

    We study information spillovers in a dynamic setting with privately informed traders and correlated asset values. A trade of one asset (or lack thereof) can provide information about the value of other assets. The information content of trading behavior is endogenously determined in equilibrium. We show that this endogeneity leads to multiple equilibria when the correlation between asset values is sufficiently high. The equilibria are ranked in terms of both trade volume and e...

  7. Accounting for the recognition of information as an asset

    OpenAIRE

    El Tawy, NAH; Abdel-Kader, M.

    2011-01-01

    Tangible assets as property, plant and equipment continue to be important factors in the production of both goods and services. However, their relative importance has decreased through time as the importance of intangible, knowledge-based assets has increased. This shift in importance has raised a number of accounting questions critical for recognizing the information as an asset in nowadays financial statements. Attempts to recognize “information” as an asset in the financial statements has ...

  8. National and International Methods of Fixed Assets Depreciation

    OpenAIRE

    Silvia Samara Ph. D student

    2010-01-01

    Depreciation is an extremely debated subject in the assets accounting area. Numerous articles were written on the subject and very different accounting solutions have been chosen from one country to another. Depreciation reflects best, the rate of consumption of economic benefits attached to the asset, knowing that, mainly, by using it, the asset is consumed. Thus, it is considered that depreciation reflects the consumption of future economic benefits attached to an asset, as consequence of i...

  9. ACCOUNTING AND TAX ISSUES RELATING TO DEPRECIATION OF TANGIBLE ASSETS

    OpenAIRE

    ZEFINESCU CARMEN-VERONICA

    2014-01-01

    The article proposes a study on the financial and accounting implications of tangible assets depreciation. According to national accounting rules and IFRS, depreciation is the equivalent to irreversible impairment of assets. This amend character is given by correcting the fixed assets counting value to obtain the net counting value. The value of depreciation calculated by applying redemption quota to the counting value of the asset is included in operating expenses for the dur...

  10. Specific asset investment in industry and university research

    Science.gov (United States)

    Tu, Jing; Yang, Zhonghua

    Industry university research have become more frequent in development activities. Both industry and university will invest specific asset which may cause switching costs. The paper discusses the issue of deciding optimal specific asset rate in the relationship by a game model. Conclusions about the factors which determine the optimal specific asset investments are drawn.

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

    NARCIS (Netherlands)

    Volker, L.; 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 w

  12. 48 CFR 32.304-3 - Asset formula.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Asset formula. 32.304-3... REQUIREMENTS CONTRACT FINANCING Loan Guarantees for Defense Production 32.304-3 Asset formula. (a) Under..., by use of an asset formula, to an amount that does not exceed a specified percentage (90 percent...

  13. Asset liquidity, corporate investment, and endogenous financing costs

    DEFF Research Database (Denmark)

    Flor, Christian Riis; Hirth, Stefan

    2013-01-01

    sensitivities. If real assets are not divisible in liquidation, firms with high financial liquidity optimally avoid external financing and instead cut new investment. If real assets are divisible, firms use external financing, which implies a lower sensitivity. In addition, asset redeployability decreases...

  14. 12 CFR 615.5210 - Risk-adjusted assets.

    Science.gov (United States)

    2010-01-01

    ... POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Capital Adequacy § 615.5210 Risk-adjusted assets. (a... comprises “risk-adjusted assets,” the denominator for computation of the permanent capital ratio. (b... institution must deduct from capital and assets the face amount of the position (dollar-for-dollar...

  15. 18 CFR 367.22 - Accounting for asset retirement obligations.

    Science.gov (United States)

    2010-04-01

    ... GAS ACT General Instructions § 367.22 Accounting for asset retirement obligations. (a) An asset... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Accounting for asset retirement obligations. 367.22 Section 367.22 Conservation of Power and Water Resources FEDERAL...

  16. 18 CFR 154.315 - Asset retirement obligations.

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Asset retirement obligations. 154.315 Section 154.315 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY... seeking recovery of the asset retirement costs in rates, must remove all asset retirement...

  17. 18 CFR 346.3 - Asset retirement obligations.

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Asset retirement obligations. 346.3 Section 346.3 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY... seeking recovery of the asset retirement costs in rates, must remove all asset retirement...

  18. A Study of the Effectiveness of Postal Financial Assets Services

    Institute of Scientific and Technical Information of China (English)

    2002-01-01

    Based on the theory of bank management, the article analyses the operating principles of postal financial assets service; selects and divides different kinds of postal financial assets services; dissects their economic and comprehensive results; furthermore, and gives examples of different assets combinations according to the development of the services.

  19. 24 CFR 990.290 - Compliance with asset management requirements.

    Science.gov (United States)

    2010-04-01

    ... asset management requirements. (a) A PHA is considered in compliance with asset management requirements... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Compliance with asset management requirements. 990.290 Section 990.290 Housing and Urban Development Regulations Relating to Housing and...

  20. 18 CFR 367.15 - Contingent assets and liabilities.

    Science.gov (United States)

    2010-04-01

    ... uncertain. Contingent liabilities include items that, under certain conditions, may become obligations of... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Contingent assets and... ACT General Instructions § 367.15 Contingent assets and liabilities. Contingent assets represent...

  1. Money Illusion and Nominal Inertia in Experimental Asset Markets

    DEFF Research Database (Denmark)

    Noussair, Charles N.; Richter, Gregers; Tyran, Jean-Robert

    We test whether large but purely nominal shocks affect real asset market prices. We subject a laboratory asset market to an exogenous shock, which either inflates or deflates the nominal fundamental value of the asset, while holding the real fundamental value constant. After an inflationary shock...

  2. 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.

  3. Asset Allocation and Predictability of Real Estate Returns

    OpenAIRE

    Rakesh Bharati; Manoj Gupta

    1992-01-01

    We examine the issue of optimal asset allocation among three broad classes of assetsà à Large Stocks (proxied by the S&P composite index); real estate assets (a portfolio of thirty Equity Real Estate Investment Trusts (REITs) traded on major stock exchanges); and the risk-free asset (the one-month T-bill), employing the evidence on their predictability. An active strategy of investing in the assets, using predicted returns from our model outperforms investing in passive strategies, which are ...

  4. Self-Consistent Asset Pricing Models

    CERN Document Server

    Malevergne, Y

    2006-01-01

    We discuss the foundations of factor or regression models in the light of the self-consistency condition that the market portfolio (and more generally the risk factors) is (are) constituted of the assets whose returns it is (they are) supposed to explain. As already reported in several articles, self-consistency implies correlations between the return disturbances. As a consequence, the alpha's and beta's of the factor model are unobservable. Self-consistency leads to renormalized beta's with zero effective alpha's, which are observable with standard OLS regressions. Analytical derivations and numerical simulations show that, for arbitrary choices of the proxy which are different from the true market portfolio, a modified linear regression holds with a non-zero value $\\alpha_i$ at the origin between an asset $i$'s return and the proxy's return. Self-consistency also introduces ``orthogonality'' and ``normality'' conditions linking the beta's, alpha's (as well as the residuals) and the weights of the proxy por...

  5. Evolutionary complexity for protection of critical assets.

    Energy Technology Data Exchange (ETDEWEB)

    Battaile, Corbett Chandler; Chandross, Michael Evan

    2005-01-01

    This report summarizes the work performed as part of a one-year LDRD project, 'Evolutionary Complexity for Protection of Critical Assets.' A brief introduction is given to the topics of genetic algorithms and genetic programming, followed by a discussion of relevant results obtained during the project's research, and finally the conclusions drawn from those results. The focus is on using genetic programming to evolve solutions for relatively simple algebraic equations as a prototype application for evolving complexity in computer codes. The results were obtained using the lil-gp genetic program, a C code for evolving solutions to user-defined problems and functions. These results suggest that genetic programs are not well-suited to evolving complexity for critical asset protection because they cannot efficiently evolve solutions to complex problems, and introduce unacceptable performance penalties into solutions for simple ones.

  6. Asset management using an extended Markowitz theorem

    Directory of Open Access Journals (Sweden)

    Paria Karimi

    2014-06-01

    Full Text Available Markowitz theorem is one of the most popular techniques for asset management. The method has been widely used to solve many applications, successfully. In this paper, we present a multi objective Markowitz model to determine asset allocation by considering cardinality constraints. The resulted model is an NP-Hard problem and the proposed study uses two metaheuristics, namely genetic algorithm (GA and particle swarm optimization (PSO to find efficient solutions. The proposed study has been applied on some data collected from Tehran Stock Exchange over the period 2009-2011. The study considers four objectives including cash return, 12-month return, 36-month return and Lower Partial Moment (LPM. The results indicate that there was no statistical difference between the implementation of PSO and GA methods.

  7. Realizalion of the 9200-MW Generation Assets

    Institute of Scientific and Technical Information of China (English)

    Peng Yuanchang; Yan Qingxu

    2007-01-01

    @@ With a process of disposition obeying market rules and a result of realization at a cost of 18.7 billion Yuan which is 56% excess, the State Electricity Regulatory Commission, the organizers for realization of the 9200-MW generation assets (the so-called "920 Project") didn't fail to accomplish its mission and withdrew the curtain of power reform in the 11th Five-Year period with a satisfactory performance.

  8. Wealth Distributions in Asset Exchange Models

    CERN Document Server

    Krapivsky, P L

    2010-01-01

    How do individuals accumulate wealth as they interact economically? We outline the consequences of a simple microscopic model in which repeated pairwise exchanges of assets between individuals build the wealth distribution of a population. This distribution is determined for generic exchange rules --- transactions that involve a fixed amount or a fixed fraction of individual wealth, as well as random or greedy exchanges. In greedy multiplicative exchange, a continuously evolving power law wealth distribution arises, a feature that qualitatively mimics empirical observations.

  9. 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.

  10. Asset Bubbles, Inflation, and Agricultural Land Values

    OpenAIRE

    Schurle, Bryan; Wilson, Christine; Featherstone, Allen; Remaury, Hugo; Harmon, Jacob

    2012-01-01

    This article discusses asset bubbles, the Kansas and Illinois land markets, estimates land values, and develops a land price/earnings ratio. Current land sales data are also examined. Finally, we examine relationships between land values and interest rates, inflation rates, and cash rents. Results show that real land values increase substantially when inflation increases. Recent land values are explored for both Kansas and Illinois with somewhat differing results. Development of land price bu...

  11. Asset Pricing Implications of Firms' Financing Constraints

    OpenAIRE

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

    2002-01-01

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

  12. Property Derivatives in the Strategic Asset Allocation

    OpenAIRE

    Steininger, B.

    2009-01-01

    Real estate investments have attracted attention as an asset class with high stability of their values, opportunity to hedge against inflation, specific risk-return characteristics, and low co-movements with traditional stock and bond markets. The integration of property investment vehicles to a stock and bond portfolio should ameliorate the performance of an until-then domestic oriented portfolio on the long run. Various studies ascertain that low comovements could also be observed among int...

  13. Anchoring Adjusted Capital Asset Pricing Model

    OpenAIRE

    Hammad, Siddiqi

    2015-01-01

    An anchoring adjusted Capital Asset Pricing Model (ACAPM) is developed in which the payoff volatilities of well-established stocks are used as starting points that are adjusted to form volatility judgments about other stocks. Anchoring heuristic implies that such adjustments are typically insufficient. ACAPM converges to CAPM with correct adjustment, so CAPM is a special case of ACAPM. The model provides a unified explanation for the size, value, and momentum effects in the stock market. A ke...

  14. Asset sale, debt restructuring, and liquidation

    OpenAIRE

    Michi NISHIHARA; Shibata, Takashi

    2015-01-01

    This paper considers a dynamic model in which shareholders of a firm in distress have a choice of whether to proceed to debt restructuring or direct liquidation at an arbitrary time. In the model, we show the following results. Fewer asset sales, lower financing, debt renegotiation, and running costs, a lower premium to the debt holders, a lower cash flow volatility, and a higher initial coupon increase the shareholders f incentive to choose debt restructuring to avoid full liquidation. In th...

  15. Agency Conflicts, Investment, and Asset Pricing

    OpenAIRE

    Albuquerque, Rui; Wang, Neng

    2007-01-01

    Corporations in most countries are run by controlling shareholders whose cash flow rights are substantially smaller than their control rights in the firm. This separation of ownership and control allows the controlling shareholders to pursue private benefits at the cost of outside minority investors by diverting resources away from the firm and distorting corporate investment and payout policies. We develop a dynamic stochastic general equilibrium asset pricing model that acknowledges the imp...

  16. Metadata for the description of broadcast assets

    DEFF Research Database (Denmark)

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

    2003-01-01

    The Corporation for Public Broadcasting (CPB) and public broadcasters consider Media Asset Management (MAM) of critical importance since without a concerted and cooperative plan to manage their vast library of content, broadcasters are unable to reach their potential for service in the digital ag...... is currently under development; the Disney Nomenclature Registry at Disney Corporation; and the ViDe (video access group) MPEG-7 and Dublin Core mapping....

  17. 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...

  18. The treatment of assets in pension funding

    OpenAIRE

    Owadally, M. I; Haberman, S

    2004-01-01

    A recent survey of actuarial practitioners in North America shows that smoothed-market actuarial asset values are commonly used in funding valuations of defined benefit pension plans. Four methods of calculating such values are reported in the actuarial literature but only qualitative descriptions of the methods are given. This paper provides mathematical descriptions of the “average of market”, “weighted average”, “deferred recognition” and “write-up” actuarial values. They are shown to be b...

  19. Growth Opportunities, Technology Shocks, and Asset Prices

    OpenAIRE

    Leonid Kogan; Dimitris Papanikolaou

    2012-01-01

    We explore the impact of investment-specific technology (IST) shocks on the crosssection of stock returns. IST shocks reflect technological advances embodied in new capital goods. Using a structural model, we show that IST shocks have a differential effect on the two fundamental components of firm value, the value of assets in place and the value of growth opportunities. This differential sensitivity to IST shocks has two main implications. First, risk premia on firms with abundant growth opp...

  20. 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...

  1. Curriculum asset mapping for One Health education.

    Science.gov (United States)

    Mor, Siobhan M; Robbins, Alison H; Jarvin, Linda; Kaufman, Gretchen E; Lindenmayer, Joann M

    2013-01-01

    The major premise of One Health is engagement of multiple disciplines to address shared problems spanning human, animal, and ecosystem health. The current model of academic specialization encourages development of isolated disciplines within the university setting, thereby creating barriers to resource sharing and academic collaboration. The aim of this project was to develop a systematic approach to mapping university assets that could be harnessed to advance One Health education. Asset in this context was defined as a course, program, or faculty expertise relevant to a particular One Health problem. The approach adopted comprised the following steps: (1) identify a current problem that would benefit from an integrated, interdisciplinary perspective (e.g., EIDs [emerging infectious diseases]); (2) identify individual disciplinary teaching areas pertinent to the problem (e.g., health communication, wildlife ecology); (3) identify competencies expected to be attained by graduates who will address the problem (e.g., respond to outbreaks); (4) survey faculty members on their teaching areas and curricular offerings that address these competencies; and (5) compile responses in a database that is searchable by teaching area and competency. We discuss our recent experiences mapping the assets at Tufts University that are relevant to the problem of EIDs with emphasis on zoonotic-disease surveillance, outbreak investigation, and outbreak response. Using 13 teaching areas and 16 competencies relevant to applied epidemiology, we identified and characterized previously untapped resources across the university. Asset mapping is thus a useful tool for identifying university resources and opportunities that can be leveraged to support interdisciplinary education for One Health. PMID:24072190

  2. 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.

  3. Management of Waqf Assets in Malaysia

    Directory of Open Access Journals (Sweden)

    Zunaidah Ab Hasan

    2015-12-01

    Full Text Available Waqf is one of the main mechanism in providing support for the development to all levels of the ummah more so for the underprivileged. Waqf institutions in Malaysia are under the jurisdiction of the 14 states rather than the Federal government. This paper reviews the development of waqf in Melaka, one of the states in Malaysia. It discusses a brief historical background, function and legal aspects of waqf matters. A brief information on the structure and administration of waqf in Melaka, Baitulmal is responsible for the sake of administering and managing such waqf assets in Melaka is also presented. This study is also concerned with examining of the current situation of development waqf asset; which is known as waqf saham in Melaka through the record by Majlis Agama Islam Melaka (MAIM. Yet, it is undeniably true that some challenges and impediments pertaining to the issues of developing waqf assets; inter alia, lack of fund and expertise, poor documentation and the record value of waqf property and others.

  4. Institutional theory of privatization - nationalization assets

    Directory of Open Access Journals (Sweden)

    Sukharev Oleg, S.

    2015-03-01

    Full Text Available Introduce the basic provisions, principles and criteria of institutional theory of privatization-nationalization, asset management in the economy. Structural analysis of property in terms of its two basic elements - public and private property, introduced a model of cooperation between state and private sectors. The main attention is paid to the criteria for evaluating the performance of these types of property, as well as the rationale of the process of privatization and nationalization of property. Offers asset management principles - the privatization and nationalization of the economy to changes in the economic well-being, the price criterion is formulated privatization-nationalization of assets. Based on the study of the theoretical criteria for the privatization and nationalization of the economy, assesses the changes in the welfare of the economic system. Summarizes the conditions of the privatization and nationalization depending on the objectives of the public and private sectors. Assesses the optimal size of the public sector and derivation of the budget deficit, depending on the dynamics of the public and private sectors (in the framework of the dichotomy.

  5. Asset Building: integrating Research, Education and Practice

    Directory of Open Access Journals (Sweden)

    Michael Sherraden

    2000-05-01

    Full Text Available Asset building is an emerging concept in anti-poverty work in economically advanced nations. In the past, welfare states have defined poverty primarily in terms of income. While income is necessary to maintain consumption, saving and investment is also necessary if families and communities are to progress out of poverty over the long term. Asset building is a broad idea with many possible applications, including homeownership, microenterprise, and individual development accounts (IDAs. IDAs are matched saving accounts for low-wealth families. In this paper, the authors 1 describe asset building as a policy and practice innovation; 2 discuss results from two research projects, one on IDAs and a second on microenterprise; and 3 illustrate a strategy for education and advocacy. This work may serve as an example of simultaneous advances in research, education, and practice, wherein each aspect of the work is enriched by and contributes to the others. The strongest advances in social work proceed not by the separation of ideas, study, and application, but by their integration and mutual reinforcement.

  6. 71 Assets Repatriation and Global Best Practices: Lessons for Nigeria

    Directory of Open Access Journals (Sweden)

    Abiodun ODUSOTE

    2015-09-01

    Full Text Available This study enquires into the multi-dimensional challenges involved in tracing, freezing and repatriating looted state assets in foreign jurisdictions. It is the view of this paper that the forms of proceeding available in Nigeria to recover looted assets are inadequate. The paper discusses the successful assets recovery cases and the not so successful cases involving Nigerian corrupt officials. The paper examines the main challenges to assets recovery through criminal proceedings and also highlights various approaches to assets recovery. The paper recommends that for effective assets recovery, Nigeria must among others enact forfeiture and confiscation laws that should be applied through the civil process rather than the traditional criminal justice system. The paper proposes some strategies for assets repatriation, but warns that the success of these proposals are contingent on strong political will on the part of the Nigerian government and its ability to constructively engage the requested state.

  7. RAPID: Collaborative Commanding and Monitoring of Lunar Assets

    Science.gov (United States)

    Torres, Recaredo J.; Mittman, David S.; Powell, Mark W.; Norris, Jeffrey S.; Joswig, Joseph C.; Crockett, Thomas M.; Abramyan, Lucy; Shams, Khawaja S.; Wallick, Michael; Allan, Mark; Hirsh, Robert

    2011-01-01

    RAPID (Robot Application Programming Interface Delegate) software utilizes highly robust technology to facilitate commanding and monitoring of lunar assets. RAPID provides the ability for intercenter communication, since these assets are developed in multiple NASA centers. RAPID is targeted at the task of lunar operations; specifically, operations that deal with robotic assets, cranes, and astronaut spacesuits, often developed at different NASA centers. RAPID allows for a uniform way to command and monitor these assets. Commands can be issued to take images, and monitoring is done via telemetry data from the asset. There are two unique features to RAPID: First, it allows any operator from any NASA center to control any NASA lunar asset, regardless of location. Second, by abstracting the native language for specific assets to a common set of messages, an operator may control and monitor any NASA lunar asset by being trained only on the use of RAPID, rather than the specific asset. RAPID is easier to use and more powerful than its predecessor, the Astronaut Interface Device (AID). Utilizing the new robust middleware, DDS (Data Distribution System), developing in RAPID has increased significantly over the old middleware. The API is built upon the Java Eclipse Platform, which combined with DDS, provides platform-independent software architecture, simplifying development of RAPID components. As RAPID continues to evolve and new messages are being designed and implemented, operators for future lunar missions will have a rich environment for commanding and monitoring assets.

  8. Nuclear Materials: Reconsidering Wastes and Assets - 13193

    International Nuclear Information System (INIS)

    The nuclear industry, both in the commercial and the government sectors, has generated large quantities of material that span the spectrum of usefulness, from highly valuable ('assets') to worthless ('wastes'). In many cases, the decision parameters are clear. Transuranic waste and high level waste, for example, have no value, and is either in a final disposition path today, or - in the case of high level waste - awaiting a policy decision about final disposition. Other materials, though discardable, have intrinsic scientific or market value that may be hidden by the complexity, hazard, or cost of recovery. An informed decision process should acknowledge the asset value, or lack of value, of the complete inventory of materials, and the structure necessary to implement the range of possible options. It is important that informed decisions are made about the asset value for the variety of nuclear materials available. For example, there is a significant quantity of spent fuel available for recycle (an estimated $4 billion value in the Savannah River Site's (SRS) L area alone); in fact, SRS has already blended down more than 300 metric tons of uranium for commercial reactor use. Over 34 metric tons of surplus plutonium is also on a path to be used as commercial fuel. There are other radiological materials that are routinely handled at the site in large quantities that should be viewed as strategically important and / or commercially viable. In some cases, these materials are irreplaceable domestically, and failure to consider their recovery could jeopardize our technological leadership or national defense. The inventories of nuclear materials at SRS that have been characterized as 'waste' include isotopes of plutonium, uranium, americium, and helium. Although planning has been performed to establish the technical and regulatory bases for their discard and disposal, recovery of these materials is both economically attractive and in the national interest. (authors)

  9. Assessing Asset Pricing Models Using Revealed Preference

    OpenAIRE

    Jonathan B. Berk; Jules H. van Binsbergen

    2014-01-01

    We propose a new method of testing asset pricing models that relies on using quantities rather than prices or returns. We use the capital flows into and out of mutual funds to infer which risk model investors use. We derive a simple test statistic that allows us to infer, from a set of candidate models, the model that is closest to the model that investors use in making their capital allocation decisions. Using this methodology, we find that of the models most commonly used in the literature,...

  10. Dynamic asset allocation and latent variables

    DEFF Research Database (Denmark)

    Sørensen, Carsten; Trolle, Anders Bjerre

    We derive an explicit solution to the portfolio problem of a power utility investorwith preferences for wealth at a ¯nite investment horizon. The investor can investin assets with return dynamics described as part of a general multivariate model.The modeling framework encompasses discrete-time VAR......-models where some ofthe state-variables (e.g. expected excess returns) may not be directly observable.A realistic multivariate model is estimated and applied to analyze the portfolioimplications of investment horizon and return predictability when real interest ratesand expected excess returns on stock...

  11. Some Divergence Properties of Asset Price Models

    Science.gov (United States)

    Stummer, Wolfgang

    2001-12-01

    We consider asset price processes Xt which are weak solutions of one-dimensional stochastic differential equations of the form (equation (2)) Such price models can be interpreted as non-lognormally-distributed generalizations of the geometric Brownian motion. We study properties of the Iα-divergence between the law of the solution Xt and the corresponding drift-less measure (the special case α=1 is the relative entropy). This will be applied to some context in statistical information theory as well as to arbitrage theory and contingent claim valuation. For instance, the seminal option pricing theorems of Black-Scholes and Merton appear as a special case.

  12. 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)

  13. Marketing Plan for Demonstration and Validation Assets

    Energy Technology Data Exchange (ETDEWEB)

    None

    2008-05-30

    The National Security Preparedness Project (NSPP), is to be sustained by various programs, including technology demonstration and evaluation (DEMVAL). This project assists companies in developing technologies under the National Security Technology Incubator program (NSTI) through demonstration and validation of technologies applicable to national security created by incubators and other sources. The NSPP also will support the creation of an integrated demonstration and validation environment. This report documents the DEMVAL marketing and visibility plan, which will focus on collecting information about, and expanding the visibility of, DEMVAL assets serving businesses with national security technology applications in southern New Mexico.

  14. SMS based Android asset tracking system

    OpenAIRE

    Olufowobi, Lawal

    2011-01-01

    As security increasingly becomes not just the concern of security institutions but also that of small companies and individuals, there is a need to offer a solution for everyday common problems of monitoring and tracking valuable assets such as cars, pets, motor-bikes and other valuables. This solution has to be cheap, convenient and inexpensive to be adopted by the general mass of people. This project provides such a solution with the use of a mobile phone for monitoring an SMS-based GPS ...

  15. Electricity - a great asset for Canada

    International Nuclear Information System (INIS)

    Canada has a great national asset in its ability to generate electricity economically from its abundant hydro, coal, and uranium resources. Its nuclear industry has an excellent product. Despite lack of orders for now, the CANDU will be a competitive force when the reactor market recovers. Canada has a proven record of reliability for electricity trade with the United States. There appear to be some opportunities for plants in Canada dedicated to the export of electric power. The federal government is prepared to work closely with the provinces to develop projects which will be attractive to customers in the United States

  16. Test and Demonstration Assets of New Mexico

    Energy Technology Data Exchange (ETDEWEB)

    None

    2008-03-31

    This document was developed by the Arrowhead Center of New Mexico State University as part of the National Security Preparedness Project (NSPP), funded by a DOE/NNSA grant. The NSPP has three primary components: business incubation, workforce development, and technology demonstration and validation. The document contains a survey of test and demonstration assets in New Mexico available for external users such as small businesses with security technologies under development. Demonstration and validation of national security technologies created by incubator sources, as well as other sources, are critical phases of technology development. The NSPP will support the utilization of an integrated demonstration and validation environment.

  17. AUDIT OF PROVISION FOR DECLINE IN VALUE OF MATERIAL ASSETS

    Directory of Open Access Journals (Sweden)

    Afanasenko A. N.

    2016-04-01

    Full Text Available The article reveals and confirms the necessity for provision for impairment of tangible assets. Inadequate valuation of provision for impairment of tangible assets or its non-reflection in accounting leads to the distortion of all forms of accounting (financial statements, except for cash flow statement. Because of it, there is a distortion of the information provided to reporting users. Also, the article describes the main legal and theoretical ideas about provision for impairment of tangible assets in the organization; a comparative analysis of domestic and foreign practice of creating reserves for impairment of tangible assets. More advanced and practical methods of creating reserves are developed; degree of impact on the financial (accounting reports the creation of reserves for impairment of tangible assets in the organization; summary of the importance of the audit with the creation and use of provisions for impairment of tangible assets

  18. Incomplete Financial Markets and Jumps in Asset Prices

    DEFF Research Database (Denmark)

    Crès, Hervé; Markeprand, Tobias Ejnar; Tvede, Mich

    A dynamic pure-exchange general equilibrium model with uncertainty is studied. Fundamentals are supposed to depend continuously on states of nature. It is shown that: 1. if financial markets are complete, then asset prices vary continuously with states of nature, and; 2. if financial markets...... are incomplete, jumps in asset prices may be unavoidable. Consequently incomplete financial markets may increase volatility in asset prices significantly....

  19. Probabilistic Asset Valuation Applied to Natural Resource Projects

    OpenAIRE

    Michal Wypych

    2011-01-01

    This paper develops three probabilistic asset valuation models for mining projects. Firstly, an overview of available asset valuation techniques is presented. The probabilistic asset valuation technique is described in greater detail in advance of developing the probabilistic financial models. The probabilistic models incorporate a stochastic behaviour model for the price of copper and a Chilean peso exchange rate correlated to the copper price. The stochastic model parameters are defined bas...

  20. Equilibrium on International Financial Assets and Goods Marke

    OpenAIRE

    Patrice Fontaine; Cuong Le Van

    2010-01-01

    The international asset pricing models are mostly developed in the situation where purchasing power parity (PPP) is not respected. Investors of di erent countries do not agree on expected security real returns. In this case, an equilibrium on the international assets market may exist but not on the international goods market. Our purpose in this paper is to give conditions under which we have equilibrium, not only on the international nancial assets market but also on the international good m...

  1. Vulnerability to asset-poverty in Sub-Saharan Africa

    OpenAIRE

    Echevin, Damien

    2011-01-01

    This paper presents a methodology to measure vulnerability to asset-poverty. Using repeated cross-section data, age cohort decomposition techniques focusing on second-order moments can be used to identify and estimate the variance of shocks on assets and, therefore, the probability of being poor in the future. Estimates from the Ghana Living Standard Surveys show that expected asset-poverty is a reliable proxy for expected consumption-poverty. Applying the methodology to nine Demographic Heal...

  2. The Evaluation of Company's Intangible Assets' influence for Business Value

    OpenAIRE

    Savickaitė, Živilė

    2014-01-01

    Mismeasurement of intangible assets in a company may result in high costs and loss of its competitiveness and position in the market. Conventional evaluation methods are not able to identify reliably intangible intensive business value because of such assets specificity. Therefore, the business assessment process adjustment, making it comprehensive and including the intangible asset valuation methods is a critical process that allows to evaluate companies better and increases business managem...

  3. Dynamic asset allocation for bank under stochastic interest rates.

    OpenAIRE

    Chakroun, Fatma; Fathi ABID

    2014-01-01

    This paper considers the optimal asset allocation strategy for bank with stochastic interest rates when there are three types of asset: Bank account, loans and securities. The asset allocation problem is to maximize the expected utility from terminal wealth of a bank's shareholders over a finite time horizon. As a consequence, we apply a dynamic programming principle to solve the Hamilton-Jacobi-Bellman (HJB) equation explicitly in the case of the CRRA utility function. A case study is given ...

  4. Wealth effects from asset securitization : (the case of Australia)

    OpenAIRE

    Lapanan, Nicha; Anchev, Stefan

    2011-01-01

    Asset securitization is one of the most important financial innovations recently. With an impressive growth in terms of volume of issuance, from almost zero to five trillion USD, in a period of 15-20 years, it is one of the most rapidly growing markets in the financial world. Yet, little is known about this, literally invisible market. Companies engage in asset securitization for a variety of reasons and numerous advantages and disadvantages of asset securitization can be found throughout the...

  5. Multivariate Lèvy models: estimation and asset allocation

    OpenAIRE

    Loregian,

    2013-01-01

    Multidimensional asset models based on Lévy processes have been introduced to meet the necessity of capturing market shocks using more refined distribution assumptions compared to the standard Gaussian framework. In particular, along with accurately modeling marginal distributions of asset returns, capturing the dependence structure among them is of paramount importance, for example, to correctly price derivatives written on more than one underlying asset. Most of the literatur...

  6. 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

  7. REGULATORY SUPPORT COST ACCOUNTING FOR IMPROVEMENT OF FIXED ASSETS

    OpenAIRE

    Лободзинська, Тетяна Петрівна

    2015-01-01

    This article explores and analyzes the regulatory and legal framework and identified differences in financial and tax accounting related expenses for the improvement of fixed assets. Also the requirements to assign costs to improve fixed assets accounting and tax accounting. Investigated that the outcome of cost accounting for fixed assets improvement depends correct definition of financial results in accounting and correct definition of taxable income, what primarily interested owners and ma...

  8. 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...

  9. Conceptual framework for measurement of asset depreciation on buildings

    OpenAIRE

    Kask, K

    2015-01-01

    Asset depreciation is an important issue in many economic decisions made either by private or public sector institutions in all times. For example, the methodology and measurement issues of asset depreciation are influencing capital budgeting decisions in corporate finance and also major capital expenditure decisions that concern public sector long-term investments. As the depreciable assets come in many forms, there is still large gaps in literature that need to be filled in order to develop...

  10. 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...

  11. Asset Accounting According to National and International Standards

    OpenAIRE

    Karina Utenkova

    2014-01-01

    The Article overviews the issues of complying National Accounting Standards at the enterprises of Ukraine with International Financial Reporting Standards. Key provisions of national and international standards governing the accounting of fixed assets (NP(S)A 7 'Property, Plant, Equipment', IFRS 16 'Fixed Assets') have been analyzed. It has been found that the list of PPE regulated by both accounting standard frameworks is not identical. Specifics of fixed assets recognition, their classifica...

  12. Fractal asset returns, arbitrage and option pricing

    Energy Technology Data Exchange (ETDEWEB)

    Potgieter, Petrus H. [Department of Decision Sciences, School of Economic Sciences, University of South Africa, P.O. Box 392, Pretoria 0003 (South Africa)], E-mail: php@member.ams.org

    2009-11-15

    In the discrete-time fractional random walk model a market with one risky asset affords an arbitrage opportunity as described by Cutland et al. [Cutland NJ, Kopp PE, Willinger W. Stock price returns and the Joseph effect: a fractional version of the Black-Scholes model. In: Russo Francesco, Bolthausen Erwin, Dozzi Marco, editors. Seminar on 6 stochastic analysis, random fields and applications, pp. 327-351. Seminar on stochastic analysis, random fields and applications. Ascona: Centro Stefano Franscini; 1993, Progress in probability 36. Birkhauser Verlag; 1995.] and Sottinen [Sottinen Tommi. Fractional Brownian motion, random walks and binary market models. Finance Stoch 2001;5(3):343-355]. We briefly discuss these results and compute a numerical example in a fractional binomial model as illustration and mention an option pricing model for assets the returns of which are driven by a fractional Brownian motion [Yaozhong Hu, Bernt Oksendal. Fractional white noise calculus and applications to finance. Infin Dimens Anal Quant Probability Rel Top 2003;6:1-32, ISSN 0219-0257; Fajardo J, Cajueiro DO. Volatility estimation and option pricing with fractional Brownian motion, October 2003. Available from: (http://ideas.repec.org/p/ibm/finlab/flwp53.html)].

  13. Fractal asset returns, arbitrage and option pricing

    International Nuclear Information System (INIS)

    In the discrete-time fractional random walk model a market with one risky asset affords an arbitrage opportunity as described by Cutland et al. [Cutland NJ, Kopp PE, Willinger W. Stock price returns and the Joseph effect: a fractional version of the Black-Scholes model. In: Russo Francesco, Bolthausen Erwin, Dozzi Marco, editors. Seminar on 6 stochastic analysis, random fields and applications, pp. 327-351. Seminar on stochastic analysis, random fields and applications. Ascona: Centro Stefano Franscini; 1993, Progress in probability 36. Birkhauser Verlag; 1995.] and Sottinen [Sottinen Tommi. Fractional Brownian motion, random walks and binary market models. Finance Stoch 2001;5(3):343-355]. We briefly discuss these results and compute a numerical example in a fractional binomial model as illustration and mention an option pricing model for assets the returns of which are driven by a fractional Brownian motion [Yaozhong Hu, Bernt Oksendal. Fractional white noise calculus and applications to finance. Infin Dimens Anal Quant Probability Rel Top 2003;6:1-32, ISSN 0219-0257; Fajardo J, Cajueiro DO. Volatility estimation and option pricing with fractional Brownian motion, October 2003. Available from: (http://ideas.repec.org/p/ibm/finlab/flwp53.html)].

  14. 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

  15. Asset Freezing: Smart Sanction or Criminal Charge?

    Directory of Open Access Journals (Sweden)

    Wouter de Zanger

    2011-02-01

    Full Text Available In this article the question is asked whether asset freezing can be qualified as a criminal charge within the meaning of Article6 ECHR and if yes, what effects this qualification may have on the legislative framework on so called smart sanctions. Byanalysing Community and EU law and case law of the European Court of Human Rights, General Court of Instance andCourt of Justice of the European Communities the authors give an overview of the notion and possible qualification of assetfreezing as a criminal charge. The article further focusses on the consequenses of qualifying asset freezing as a criminal chargeunder ECHR and EC/EU law and concludes by answering the aforementioned question.This article is a rewrite of a research paper written under supervision of prof. dr. J.A.E. Vervaele and prof. dr. C.H. Brants(Willem Pompe Institute for Criminal Law and Criminology, Utrecht University School of Law, whom the authors wouldlike to thank for their useful comments and supervision.

  16. ACCRUAL OF LIABILITIES AND CONTINGENT ASSETS

    Directory of Open Access Journals (Sweden)

    Elena Ilie

    2011-12-01

    Full Text Available International Financial Reporting Standards together with Public Sector Accounting Standards are based on professional reasoning by appealing to principles that can lead to several solutions for a certain problem. In this respect Romanian economic mechanisms have a high level of rigidity in the implementation of accounting concepts and principles so that it is important to highlight the aspects that generate added value in the current economic climate. Even since 2005 the harmonization of Romanian accounting with the directives of International Accounting Standards, which came to support the harmonization of rules and principles concerning the development of annual financial statements of public institutions, is the most important and essential challenge for administrative environment. Assets and contingent liabilities are elements which in terms of the law cannot be included in the assets of a public institution that is why accounting of these elements must be performed using special off-balance sheet accounts. The purpose of this work emphasizes the opportunity and the recognition of economic events whose elements should be reflected in balance sheet, but also the appropriate and necessary moment of making entries over special accounts off the balance sheet in accordance with IPSAS 19.

  17. THEORETICAL ASPECTS OF THREE-ASSET PORTFOLIO MANAGEMENT

    OpenAIRE

    Michal ŠOLTÉS

    2012-01-01

    The paper deals with three-asset portfolio. It focuses on ordinary investor, for whom the Markowitz’s theory of selection of optimal portfolio is often too difficult to use in practise. In the paper, new formulas for calculation of the weights of the assets in three-asset portfolio optimised according to the risk measured by standard deviation are being derived. The paper also deals with comparison of optimisation of two- and three-asset portfolio. Also the formulas for calculation of weights...

  18. ACCOUNTING AND TAX ISSUES RELATING TO DEPRECIATION OF TANGIBLE ASSETS

    Directory of Open Access Journals (Sweden)

    ZEFINESCU CARMEN-VERONICA

    2014-05-01

    Full Text Available The article proposes a study on the financial and accounting implications of tangible assets depreciation. According to national accounting rules and IFRS, depreciation is the equivalent to irreversible impairment of assets. This amend character is given by correcting the fixed assets counting value to obtain the net counting value. The value of depreciation calculated by applying redemption quota to the counting value of the asset is included in operating expenses for the duration of its use until full recovery of input value and affects the outcome of the exercise.

  19. Analysis of Appraising Agricultural Intangible Asset Value by Cost Method

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    On the basis of describing the connotation of agricultural intangible asset and cost method,the technical ideas of appraising by cost method are introduced.The article analyzes the advantages(simple appraisal principle and easy to understand and grasp;overall consideration of various factors related to appraisal result value) and disadvantages(high appraisal cost;difficult to appraise and grasp various appraisal factors) of appraising by cost method.The article also summarizes the precondition of appraising by cost method:it is applicable to appraise the agricultural intangible asset which can be reproduced and afresh developed.Based on the cognition of agricultural intangible asset and the relevant rules of Ministry of Finance on appraisal of intangible asset by using cost method,the model of appraising agricultural intangible asset by cost method is constructed.That is:agricultural intangible asset value = replacement cost of agricultural intangible asset ×newness rate + opportunity cost of agricultural intangible asset.Determine and analyze parameters of the model,in order to offer references for appraisers to appraise agricultural intangible asset value more reasonably.

  20. 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.

  1. Invisible Assets of Uneven-Age Associations

    Directory of Open Access Journals (Sweden)

    Krapivina L. A.

    2014-01-01

    Full Text Available The problem of insufficient usage of research results devoted to the development and teaching a person in multi-aged in pedagogical theory and practice is considered. The occurrence of “invisible assets” as a phenomenon of human activity results is also reviewed. These results show the synergic effect that considerably exceeds the index relative to the effort sum of separate components. The results of the emergent effect of invisible assets manifestation in multi-aged unions studied in Russian pedagogical science are represented. The systemic factors defining the magnitude, power and limit of educative potential of a multi-aged union are singled out. The necessity of using the results of rich Russian pedagogical experience of G. V. Radetskiy, S. T. Shatskiy, A. S. Makarenko, I. P. Ivanov, V. P. Krapivin and their followers of the 21st century in studying social development of adolescents based on the historical-genetic analysis is shown in the paper.

  2. Determinant of securitization asset pricing in Malaysia

    Science.gov (United States)

    Bakri, M. H.; Ali, R.; Ismail, S.; Sufian, F.; Baharom, A. H.

    2014-12-01

    Malaysian firms have been reported involve in Asset Back Securities since 1986s where Cagamas is a pioneer. This research aims to examine the factor influencing primary market spread. Least square method and regression analysis are applied for the study period 2004-2012. The result shows one determinants in internal regression model and three determinants in external regression influence or contribute to the primary market spread and are statistically significant in developing the securitization in Malaysia. It can be concluded that transaction size significantly contribute to the determinant primary market spread in internal regression model while liquidity, transaction size and crisis is significant in both regression model. From five hypotheses, three hypotheses support that the determinants have a relationship with primary market spread.

  3. Some Divergence Properties of Asset Price Models

    Directory of Open Access Journals (Sweden)

    Wolfgang Stummer

    2001-12-01

    Full Text Available Abstract: We consider asset price processes Xt which are weak solutions of one-dimensional stochastic differential equations of the form (equation (2 Such price models can be interpreted as non-lognormally-distributed generalizations of the geometric Brownian motion. We study properties of the Iα-divergence between the law of the solution Xt and the corresponding drift-less measure (the special case α=1 is the relative entropy. This will be applied to some context in statistical information theory as well as to arbitrage theory and contingent claim valuation. For instance, the seminal option pricing theorems of Black-Scholes and Merton appear as a special case.

  4. 12 CFR 616.6500 - Investment in leased assets.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Investment in leased assets. 616.6500 Section 616.6500 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LEASING § 616.6500 Investment in leased assets. An institution may acquire property to be leased that is consistent with current...

  5. 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...

  6. 77 FR 70178 - Application for the Transfer of Physical Assets

    Science.gov (United States)

    2012-11-23

    ... URBAN DEVELOPMENT Application for the Transfer of Physical Assets AGENCY: Office of the Chief... lists the following information: Title of Proposed: Application for the Transfer of Physical Assets. OMB... information will be used to ensure that HUD multifamily housing properties are not placed in...

  7. Meeting the Needs of LGBTQ Youth: A "Relational Assets" Approach

    Science.gov (United States)

    Sadowski, Michael; Chow, Stephen; Scanlon, Constance P.

    2009-01-01

    Drawing primarily on three case studies, this article proposes a framework that those concerned about the welfare of lesbian, gay, bisexual, transgender, queer, and questioning (LGBTQ) youth can consider when developing, evaluating, or arguing for more effective programming: a relational assets approach. The relational assets approach merges the…

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

    NARCIS (Netherlands)

    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

  9. 2014 State of Western's Assets

    Energy Technology Data Exchange (ETDEWEB)

    None

    2014-01-01

    In this report we document the State of Western’s Assets in terms of physical equipment, financial resources, strategic direction, and human capital, both at the organizational and regional levels. We identify the condition of our assets today and share what work we will be doing in these areas in the coming years.

  10. Estimating expenditure impacts without expenditure data using asset proxies

    OpenAIRE

    Martin Wittenberg

    2009-01-01

    When asset indices are used in regressions the coefficients obtained are typically difficult to interpret. We show how lower bounds on expenditure effects can be extracted, if the relationship between the assets and expenditure can be calibrated on an auxiliary data set.

  11. Reasons to value the health care intangible asset valuation.

    Science.gov (United States)

    Reilly, Robert F

    2012-01-01

    There are numerous individual reasons to conduct a health care intangible asset valuation. This discussion summarized many of these reasons and considered the common categories of these individual reasons. Understanding the reason for the intangible asset analysis is an important prerequisite to conducting the valuation, both for the analyst and the health care owner/operator. This is because an intangible asset valuation may not be the type of analysis that the owner/operator really needs. Rather, the owner/operator may really need an economic damages measurement, a license royalty rate analysis, an intercompany transfer price study, a commercialization potential evaluation, or some other type of intangible asset analysis. In addition, a clear definition of the reason for the valuation will allow the analyst to understand if (1) any specific analytical guidelines, procedures, or regulations apply and (2) any specific reporting requirement applies. For example, intangible asset valuations prepared for fair value accounting purposes should meet specific ASC 820 fair value accounting guidance. Intangible asset valuations performed for intercompany transfer price tax purposes should comply with the guidance provided in the Section 482 regulations. Likewise, intangible asset valuations prepared for Section 170 charitable contribution purposes should comply with specific reporting requirements. The individual reasons for the health care intangible asset valuation may influence the standard of value applied, the valuation date selected, the valuation approaches and methods applied, the form and format of valuation report prepared, and even the type of professional employed to perform the valuation. PMID:23971140

  12. 12 CFR 347.209 - Pledge of assets.

    Science.gov (United States)

    2010-01-01

    ... Development Bank, Asian Development Bank, Inter-American Development Bank, and the International Bank for... INTERNATIONAL BANKING Foreign Banks § 347.209 Pledge of assets. (a) Purpose. A foreign bank that has an insured... market value of such assets at the time of the original pledge and thereafter as of the last day of...

  13. 77 FR 10422 - Reporting of Specified Foreign Financial Assets; Correction

    Science.gov (United States)

    2012-02-22

    ... Monday, December 19, 2011 (76 FR 78594), relating to the reporting of specified foreign financial assets... Internal Revenue Service 26 CFR Part 1 RIN 1545-BJ69 Reporting of Specified Foreign Financial Assets... publication of the notice of proposed rulemaking (REG-130302-10), which was the subject of FR Doc....

  14. 77 FR 9845 - Reporting of Specified Foreign Financial Assets; Correction

    Science.gov (United States)

    2012-02-21

    ... Internal Revenue Service 26 CFR Part 1 RIN 1545-BK17 Reporting of Specified Foreign Financial Assets... on Monday, December 19, 2011, relating to the reporting of specified foreign financial assets. DATES... section 6038 of the Internal Revenue Code. Need for Correction As published on December 19, 2011 (76...

  15. 77 FR 9877 - Reporting of Specified Foreign Financial Assets; Correction

    Science.gov (United States)

    2012-02-21

    ... Internal Revenue Service 26 CFR Part 1 RIN 1545-BJ69 Reporting of Specified Foreign Financial Assets... Register on Monday, December 19, 2011, relating to the reporting of specified foreign financial assets. FOR... section 6038 of the Internal Revenue Code. Need for Correction As published on December 19, 2011, (76...

  16. Family Assets and Liabilities in the Innovation Process

    DEFF Research Database (Denmark)

    Bennedsen, Morten; Foss, Nicolai Juul

    2015-01-01

    Innovation in family firms is often driven by family assets, valuable resources that are particularly prevalent in family firms. For example, they have particularly strong networks that can be deployed in an innovation context. These family assets can over time atrophy and stifle rather than stim...

  17. 48 CFR 9904.404 - Capitalization of tangible assets.

    Science.gov (United States)

    2010-10-01

    ... assets. 9904.404 Section 9904.404 Federal Acquisition Regulations System COST ACCOUNTING STANDARDS BOARD, OFFICE OF FEDERAL PROCUREMENT POLICY, OFFICE OF MANAGEMENT AND BUDGET PROCUREMENT PRACTICES AND COST ACCOUNTING STANDARDS COST ACCOUNTING STANDARDS 9904.404 Capitalization of tangible assets....

  18. 12 CFR 225.132 - Acquisition of assets.

    Science.gov (United States)

    2010-01-01

    ... Companies Interpretations § 225.132 Acquisition of assets. (a) From time to time questions have arisen as to... the Board's Regulation Y (12 CFR 225.4(c)(3)) generally prohibits a bank holding company or its... any merger “or acquisition of assets other than in the ordinary course of business” without...

  19. 75 FR 39329 - Interagency Guidance on Asset Securitization Activities

    Science.gov (United States)

    2010-07-08

    ... Office of Thrift Supervision Interagency Guidance on Asset Securitization Activities AGENCY: Office of... collection. Title of Proposal: Interagency Guidance on Asset Securitization Activities. OMB Number: 1550-0104... securitization activities and to ensure that they minimize operational risk in these activities. OTS will...

  20. 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.

  1. 75 FR 24774 - Interagency Guidance on Asset Securitization Activities

    Science.gov (United States)

    2010-05-05

    ... Office of Thrift Supervision Interagency Guidance on Asset Securitization Activities AGENCY: Office of... collection. Title of Proposal: Interagency Guidance on Asset Securitization Activities. OMB Number: 1550-0104... securitization activities and to ensure that they minimize operational risk in these activities. OTS will...

  2. 47 CFR 32.1500 - Other jurisdictional assets-net.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Other jurisdictional assets-net. 32.1500....1500 Other jurisdictional assets—net. This account shall include the cumulative impact on assets of... account shall be recorded net of any applicable income tax effects and shall be supported by...

  3. 18 CFR 35.18 - Asset retirement obligations.

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Asset retirement obligations. 35.18 Section 35.18 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY... not seeking recovery of the asset retirement costs in rates, must remove all...

  4. An empirical analysis of asset-backed securitization

    NARCIS (Netherlands)

    Vink, D.; Thibeault, A.

    2007-01-01

    In this study we provide empirical evidence demonstrating a relationship between the nature of the assets and the primary market spread. The model also provides predictions on how other pricing characteristics affect spread, since little is known about how and why spreads of asset-backed securities

  5. 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.

  6. 39 CFR 3060.11 - Valuation of assets.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Valuation of assets. 3060.11 Section 3060.11 Postal Service POSTAL REGULATORY COMMISSION PERSONNEL ACCOUNTING PRACTICES AND TAX RULES FOR THE THEORETICAL COMPETITIVE PRODUCTS ENTERPRISE § 3060.11 Valuation of assets. For the purposes of 39 U.S.C....

  7. 31 CFR 223.9 - Valuation of assets and liabilities.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Valuation of assets and liabilities. 223.9 Section 223.9 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued... WITH THE UNITED STATES § 223.9 Valuation of assets and liabilities. In determining the...

  8. Reasons to value the health care intangible asset valuation.

    Science.gov (United States)

    Reilly, Robert F

    2012-01-01

    There are numerous individual reasons to conduct a health care intangible asset valuation. This discussion summarized many of these reasons and considered the common categories of these individual reasons. Understanding the reason for the intangible asset analysis is an important prerequisite to conducting the valuation, both for the analyst and the health care owner/operator. This is because an intangible asset valuation may not be the type of analysis that the owner/operator really needs. Rather, the owner/operator may really need an economic damages measurement, a license royalty rate analysis, an intercompany transfer price study, a commercialization potential evaluation, or some other type of intangible asset analysis. In addition, a clear definition of the reason for the valuation will allow the analyst to understand if (1) any specific analytical guidelines, procedures, or regulations apply and (2) any specific reporting requirement applies. For example, intangible asset valuations prepared for fair value accounting purposes should meet specific ASC 820 fair value accounting guidance. Intangible asset valuations performed for intercompany transfer price tax purposes should comply with the guidance provided in the Section 482 regulations. Likewise, intangible asset valuations prepared for Section 170 charitable contribution purposes should comply with specific reporting requirements. The individual reasons for the health care intangible asset valuation may influence the standard of value applied, the valuation date selected, the valuation approaches and methods applied, the form and format of valuation report prepared, and even the type of professional employed to perform the valuation.

  9. FEATURES OF ACCOUNTING OF INTANGIBLE RAR AND US GAAP ASSETS

    Directory of Open Access Journals (Sweden)

    Bashkatov V. V.

    2014-01-01

    Full Text Available The article gives an overview of the results of a com-parison of features of intangible assets RAS and US GAAP, were also elucidating the pros and cons of the-se accounting standards and proposed options for improving the Russian accounting intangible assets

  10. The Developmental Assets and ASCA's National Standards: A Crosswalk Review

    Science.gov (United States)

    Stevens, Holly; Wilkerson, Kevin

    2010-01-01

    This article offers a comprehensive literature review of Developmental Assets[TM], defined as the positive building blocks that all children and adolescents need to succeed. The article examines the usefulness of the Developmental Assets for a comprehensive, developmental, and strengths-based school counseling program. A crosswalk comparing the…

  11. Launch Vehicle Demonstrator Using Shuttle Assets

    Science.gov (United States)

    Creech, Dennis M.; Threet, Grady E., Jr.; Philips, Alan D.; Waters, Eric D.

    2011-01-01

    The Advanced Concepts Office at NASA's George C. Marshall Space Flight Center undertook a study to define candidate early heavy lift demonstration launch vehicle concepts derived from existing space shuttle assets. The objective was to determine the performance capabilities of these vehicles and characterize potential early demonstration test flights. Given the anticipated budgetary constraints that may affect America's civil space program, and a lapse in U.S. heavy launch capability with the retirement of the space shuttle, an early heavy lift launch vehicle demonstration flight would not only demonstrate capabilities that could be utilized for future space exploration missions, but also serve as a building block for the development of our nation s next heavy lift launch system. An early heavy lift demonstration could be utilized as a test platform, demonstrating capabilities of future space exploration systems such as the Multi Purpose Crew Vehicle. By using existing shuttle assets, including the RS-25D engine inventory, the shuttle equipment manufacturing and tooling base, and the segmented solid rocket booster industry, a demonstrator concept could expedite the design-to-flight schedule while retaining critical human skills and capital. In this study two types of vehicle designs are examined. The first utilizes a high margin/safety factor battleship structural design in order to minimize development time as well as monetary investment. Structural design optimization is performed on the second, as if an operational vehicle. Results indicate low earth orbit payload capability is more than sufficient to support various vehicle and vehicle systems test programs including Multi-Purpose Crew Vehicle articles. Furthermore, a shuttle-derived, hydrogen core vehicle configuration offers performance benefits when trading evolutionary paths to maximum capability.

  12. The engineering assessment for New England's power asset divestiture

    International Nuclear Information System (INIS)

    The structuring of the electric industry is progressing. On October 1, 1996, New England Electric System (NEES) announced that it would divest its generating assets. Since then other utilities in California and New England have also decided to divest all or some of their generating facilities. NEES owns 3,962 MWs of generating assets consisting of two coal/oil fired stations, one combined cycle gas station, fourteen hydro stations and one pumped storage station. Also included in the asset sale is 1,155 MWs of purchased capacity under power purchasing agreements. This paper will describe the activities undertaken by NEES and Stone and Weber in preparing for the asset sale. It will provide insight for others on how these activities help to maximize the value obtained for the generating assets

  13. 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..

  14. 7 CFR 4290.506 - Safeguarding the RBIC's assets/Internal controls.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Safeguarding the RBIC's assets/Internal controls... Safeguarding the RBIC's assets/Internal controls. You must adopt a plan to safeguard your assets and monitor... your control procedures....

  15. 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...

  16. The financial economics of sovereign asset value: functional perspectives and market outcomes

    OpenAIRE

    Posch, Peter N; Roger J. Bowden; Kalteier, Eva-Maria

    2014-01-01

    The asset value of government has traditionally been seen as the accounting value of public assets. We develop a detailed financial economics view on sovereign asset values using market measures to arrive at implied sovereign asset values. We establish definition and dependencies within the resulting framework. Unlike the private sector, it is not a necessary public sector objective to maximise functional asset value as such; indeed some wealthier countries can run a habitually lower asset co...

  17. 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...

  18. Inverse Statistics and Asset Allocation Efficiency

    Science.gov (United States)

    Bolgorian, Meysam

    In this paper using inverse statistics analysis, the effect of investment horizon on the efficiency of portfolio selection is examined. Inverse statistics analysis is a general tool also known as probability distribution of exit time that is used for detecting the distribution of the time in which a stochastic process exits from a zone. This analysis was used in Refs. 1 and 2 for studying the financial returns time series. This distribution provides an optimal investment horizon which determines the most likely horizon for gaining a specific return. Using samples of stocks from Tehran Stock Exchange (TSE) as an emerging market and S&P 500 as a developed market, effect of optimal investment horizon in asset allocation is assessed. It is found that taking into account the optimal investment horizon in TSE leads to more efficiency for large size portfolios while for stocks selected from S&P 500, regardless of portfolio size, this strategy does not only not produce more efficient portfolios, but also longer investment horizons provides more efficiency.

  19. 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.

  20. Strategies for sustaining current nuclear assets

    International Nuclear Information System (INIS)

    Examination of today's United States 'big picture' electrical generation strategies, both economic and environmental, shows a common assumption - the current nuclear fleet will continue to operate successfully for at least 60 years. In accomplishing this current plants will provide significant quantities of low cost electricity to the public and are a fundamental established contributor to limiting the quantity of CO2 emitted to the environment in the production of electricity. Our industry should be honored by this confidence but should also recognize several challenges associated with fulfilling this trust. From an operating nuclear power plant perspective there are major challenges associated with both the physical plants as well as the staff who ensure their successful operation. This paper largely addresses the several issues related to the physical plants - material degradation issues, sustaining equipment reliability and addressing obsolescence/supply chain issues. Of the multiple 'people' aspects important to the future of nuclear power this paper focuses on the impact the changing workforce has on the ability to sustain high levels of equipment reliability and thus plant generation, economics. The importance of 'Total Asset Optimization Strategies' to addressing these issues will be described as well as several key operative elements. (author)

  1. 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

  2. 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.)

  3. Heritage asset in Italian local governements

    Directory of Open Access Journals (Sweden)

    Giuseppe Farneti

    2009-03-01

    Full Text Available Culture has always been an important factor for economic development and local attractiveness in European regions and cities. In Italy, there are over 4,100 museums, 1,400 theatres, 11,400 libraries, 6,000 archaeological sites, 367 archaeological areas, 85,000 National Trust churches, and 40,000 historical residences, whose property, traditionally, is entrusted to public administration, and local entities in particular. For this reason it would be particularly interesting to analyze the Italian case in order to assess the political and institutional changes of the cultural public sector which have made it necessary to introduce governmental criteria and adopt methods and instrumentation marked by a logic of economic rationality in the governance of cultural heritage. The present contribution proposes a definition of the political-institutional context in which the Italian cultural “services” are allocated along with an interpretational scheme of analysis regarding the variables relevant to their governance. It also analyzes in depth the dimension of the cultural sector in Italy, in comparison with other European countries, and the effects of the present financial crisis on the amount of resources devoted to Italian local cultural assets.

  4. Capitals, assets, and resources: some critical issues.

    Science.gov (United States)

    Savage, Mike; Warde, Alan; Devine, Fiona

    2005-03-01

    This paper explores the potential of Bourdieu's approach to capital as a way of understanding class dynamics in contemporary capitalism. Recent rethinking of class analysis has sought to move beyond what Rosemary Crompton (1998) calls the 'employment aggregate approach', one which involves categorizing people into class groups according to whether they have certain attributes (e.g. occupations). Instead, recent contributions by Pierre Bourdieu, Erik Wright, Aage Sorensen, and Charles Tilly have concentrated on understanding the mechanisms that produce class inequalities. Concepts such as assets, capitals and resources (CARs) are often used to explain how class inequalities are produced, but there remain ambiguities and differences in how such terms are understood. This paper identifies problems faced both by game theoretical Marxism and by the rational choice approach of Goldthorpe in developing an adequate approach to CARs. It then turns to critically consider how elements of Bourdieu's approach, where his concept of capital is related to those of habitus and field, might overcome these weaknesses. Our rendering of his arguments leads us to conclude that our understanding of CARs might be enriched by considering how capital is distinctive not in terms of distinct relations of exploitation, but through its potential to accumulate and to be converted to other resources. This focus, we suggest, sidesteps otherwise intractable problems in CAR based approaches.

  5. Market competitiveness, intangible assets and efficiency in combination of fixed assets in companies listed on the BM&Fbovespa

    Directory of Open Access Journals (Sweden)

    Geovanne Dias de Moura

    2013-12-01

    Full Text Available The study aimed to analyze, among companies listed on BM&FBovespa, what is the relationship between market competitiveness, proportions of intangible assets and efficiency in combination of fixed assets. To this end, descriptive research and quantitative in a sample consisting of 268 companies, with data collected through the database Economática, for the period 2008 to 2010. In relation to the competitiveness of the market results showed there is monopoly in the economic sector, oil and gas, biofuel sectors oligopoly of industrial goods, financial and basic materials and a structure of perfect competition with slight increase of competitiveness over time in other sectors. As to the proportion of intangible assets generally amounted to 7% of the total assets of the companies in the year 2008, 9% in 2009 and 17% in the year 2010, with highlight to the public utility industries and information technology. In terms of efficiency in combination of fixed assets realized that the economic sector of information technology and oil, gas and biofuels were with companies that had the best combinations. The results of the 2008 to 2010 period have also shown that among companies listed on the BM&FBovespa sample, those in competitive environments (contingency factor had the largest proportion of intangible assets and the best combinations of investments and assets related to its intangible.

  6. "Total assets" versus "risk weighted assets": Does it matter for MREL requirements?

    OpenAIRE

    Hellwig, Martin

    2016-01-01

    The paper discusses the role of risk weighting in the determination of minimum requirements for eligible bail-in-able liabilities of banks (MREL), i.e. liabilities that are not exempt from the bail-in tool in bank resolution and that can be written down or converted into equity if losses on assets exceed the available equity and such bailing-in is required to re-establish bank solvency so as to provide a basis for maintaining systemically important operations in resolution. The paper begins w...

  7. A Theoretical Assessment on Optimal Asset Allocations in Insurance Industry

    Directory of Open Access Journals (Sweden)

    Bilel Jarraya

    2013-10-01

    Full Text Available In recent years the financial markets known a rapid development and become more and more complex. So, many regulatory requirements, focused on banks as well as insurance sector, have been developed. These regulatory are concentrated essentially on business risk control and required capital to cover risks. These requirements have influenced the asset allocation issue in insurance industry. These requirements have influenced the asset allocation issue in insurance industry. This section is interested by this issue. In first time it highlights some research works in this issue. Then we will investigate the relation between Solvency and optimal asset allocation. Finally we will explore the principal used methods in modeling asset and in choosing the optimal portfolio composition.

  8. 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.

  9. NMFS Prioritization, Allocation & Scheduling System (NMFS Asset PASS)

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — NMFS Asset PASS is a web-based enterprise application and ORACLE database that collects research platform requests. The first release initially focused on line...

  10. THE SECURITIZATION OF MORTGAGE ASSETS: PROBLEMS AND DEVELOPMENT PROSPECTS

    OpenAIRE

    Moshkova, M.

    2010-01-01

    It is found especially the securitization of mortgage assets mechanism in the world, analyzed the development operations of securitization in case of developed countries, and identified the problems and prospects of development of securitization in domestic practice.

  11. Careful Planning Key to Accurate Fixed Reports Assets.

    Science.gov (United States)

    MaRous, Arnold M.

    1986-01-01

    Only with careful planning can school business managers develop fixed asset information and good recordkeeping. Use of a simple inventory system and discussion with school districts already utilizing this system will assist planning. (CJH)

  12. 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...

  13. Valuation Effects and the Dynamics of Net External Assets

    OpenAIRE

    Devereux, Michael B.; Alan Sutherland

    2009-01-01

    The traditional current account can be an inaccurate measure of the change in the net foreign asset (NFA) position. Using gross asset and liability positions at the country level, a number of 'valuation effects' have been identified which contribute to changes in NFA but do not enter the reported current account. This paper uses new developments in the analysis of portfolio allocation in general equilibrium to investigate valuation effects in a two-country model. The model can be used to anal...

  14. ACCOUNTING ASPECTS OF THE ACQUISITION OF TANGIBLE ASSETS THROUGH LEASING

    OpenAIRE

    Ionela Cornelia Stanciu; Nicolae Todea

    2008-01-01

    The present paper approaches problems on lease operations. A lease isan agreement whereby the lessor conveys to the lessee in return for a payment orseries of payments the right to use an asset for an agreed period of time. A financelease is a lease that transfers substantially all the risks and rewards incident toownership of an asset. Title may or may not eventually be transferred. A leaseclassified as an operating lease if it does not transfer substantially all risks andrewards to ownershi...

  15. Commercial Building Energy Asset Rating Program -- Market Research

    Energy Technology Data Exchange (ETDEWEB)

    McCabe, Molly J.; Wang, Na

    2012-04-19

    Under contract to Pacific Northwest National Laboratory, HaydenTanner, LLC conducted an in-depth analysis of the potential market value of a commercial building energy asset rating program for the U.S. Department of Energy (DOE) Office of Energy Efficiency and Renewable Energy. The market research objectives were to: (1) Evaluate market interest and need for a program and tool to offer asset rating and rapidly identify potential energy efficiency measures for the commercial building sector. (2) Identify key input variables and asset rating outputs that would facilitate increased investment in energy efficiency. (3) Assess best practices and lessons learned from existing national and international energy rating programs. (4) Identify core messaging to motivate owners, investors, financiers, and others in the real estate sector to adopt a voluntary asset rating program and, as a consequence, deploy high-performance strategies and technologies across new and existing buildings. (5) Identify leverage factors and incentives that facilitate increased investment in these buildings. To meet these objectives, work consisted of a review of the relevant literature, examination of existing and emergent asset and operational rating systems, interviews with industry stakeholders, and an evaluation of the value implication of an asset label on asset valuation. This report documents the analysis methodology and findings, conclusion, and recommendations. Its intent is to support and inform the DOE Office of Energy Efficiency and Renewable Energy on the market need and potential value impacts of an asset labeling and diagnostic tool to encourage high-performance new buildings and building efficiency retrofit projects.

  16. Open-Market Operations, Asset Distributions, and Endogenous Market Segmentation

    OpenAIRE

    Mahmoudi, Babak

    2013-01-01

    This paper investigates the long-run effects of open-market operations on the distributions of assets and prices in the economy. It offers a theoretical framework to incorporate multiple asset holdings in a tractable heterogeneous-agent model, in which the central bank implements policies by changing the supply of nominal bond and money. This model features competitive search, which produces distributions of money and bond holdings as well as price dispersion among submarkets. At a high enoug...

  17. Strategic CSR Assets within SMEs: A Comparative Case Study

    OpenAIRE

    Elise Bonneveux; Isabelle Calmé; Richard Soparnot

    2012-01-01

    This article aims to show the extent to which strategic organizational resources and assets may determine the type of CSR strategy deployed in SMEs. It is based on the Resource Based View (RBV) approach that allows the authors to propose a theoretical grid to analyse CSR commitment considering the assets mobilized. We have conducted interviews with two SME chief executives with a view to assessing their perception of both internal and external challenges involved in corporate responsibility p...

  18. Sovereign Asset Values and Implications for the Credit Market

    OpenAIRE

    Posch, Peter N.; Kalteier, Eva-Maria

    2013-01-01

    Using the contingent claim approach and market data on sovereign credit default swaps we assess the drivers of a country s risk perception. Deriving market-based asset values for a set of advanced economies we gain insights into the capital markets perspectives on sovereign creditworthiness. We find the market-based asset values to be positively influenced by debt and to be an early risk indicator for economic developments. In a cross-section analysis we identify drivers of the economic risk ...

  19. 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...

  20. Do commodities offer diversification benefits in multi-asset portfolios?

    OpenAIRE

    Hansen-Tangen, Nicoline Heier; Overaae, Mats

    2015-01-01

    During the last decade commodities have increased in popularity as an alternative asset class. Previous research reports the diversification benefits when adding individual commodity indices or futures to a traditional portfolio of stocks and bonds, due to low correlation to traditional asset classes. Hence, a major motive of commodity investments is to increase the performance of the portfolio. More recent research report that commodities have been financialized and that the benefits of addi...

  1. Equilibrium Investment and Asset Prices under Imperfect Corporate Control

    OpenAIRE

    James Dow; Gary Gorton; Arvind Krishnamurthy

    2005-01-01

    We integrate a widely accepted version of the separation of ownership and control—Michael 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. Aggregate free cash flow of the corporate sector is an important state variable in explaining asset prices, investment, and the cyclical behavior of interest rates and the yield curve. The financial friction causes cash-flow shocks to affect investmen...

  2. Treating research and development as a capital asset

    OpenAIRE

    Emma Edworthy; Gavin Wallis

    2007-01-01

    Presents work undertaken and some estimates of the productivity impact of R&D on business sector firms.Treating research and development as an asset requires a number of important steps. The first step is to determine the components of research and developmentexpenditure to be included as investment and then to translate those expenditure components into a National Accounts compatible format. The second step isthe construction of appropriate deflators for research and development assets. The ...

  3. uling Elites' Rotation and Asset Ownership: Implications for Property Rights

    OpenAIRE

    Leonid Polishchuk; Georgiy Syunyaev

    2014-01-01

    We provide a theory and empirical evidence indicating that the rotation of ruling elites in conjunction with elites’ asset ownership could improve property rights protection in non-democracies. The mechanism that upholds property rights is based on elites’ concern about the security of their own asset ownership in the event they lose power. Such incentives provide a solution to the credible commitment problem in maintaining secure property rights when institutional restrictions on expropriati...

  4. Asset Pricing When Risk Sharing is Limited by Default

    OpenAIRE

    Fernando Alvarez; Urban J. Jermann

    2010-01-01

    We study the asset pricing implications of a multi-agent endowment economy where agents can default on contracts that would leave them otherwise worse off. We specialize and extend the environment studied by Kocherlakota (1995) and Kehoe and Levine (1993) to make it comparable to standard studies of asset pricing. We make contributions along two fronts. First, we extend the characterization of efficient allocations. Second, we present an equilibrium concept with complete markets and with endo...

  5. Informational Asymmetries in Laboratory Asset Markets with State Dependent Fundamentals

    OpenAIRE

    Keser, Claudia; Markstädter, Andreas

    2014-01-01

    We investigate the formation of market prices in a new experimental setting involving multi-period asset markets with state-dependent fundamentals. We are particularly interested in two informational aspects: (1) the role of traders who are informed about the true state and (2) the provision of Bayesian updates of the assets state-dependent fundamental value (BFVs) to all traders. We find that bubbles are a rare phenomenon in all our treatments. Markets with asymmetrically informed traders co...

  6. 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...

  7. 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...

  8. ISS Asset Tracking Using SAW RFID Technology

    Science.gov (United States)

    Schellhase, Amy; Powers, Annie

    2004-01-01

    A team at the NASA Johnson Space Center (JSC) is undergoing final preparations to test Surface Acoustic Wave (SAW) Radio Frequency Identification (RFID) technology to track assets aboard the International Space Station (ISS). Currently, almost 10,000 U.S. items onboard the ISS are tracked within a database maintained by both the JSC ground teams and crew onboard the ISS. This barcode-based inventory management system has successfully tracked the location of 97% of the items onboard, but its accuracy is dependant on the crew to report hardware movements, taking valuable time away from science and other activities. With the addition of future modules, the volume of inventory to be tracked is expected to increase significantly. The first test of RFID technology on ISS, which will be conducted by the Expedition 16 crew later this year, will evaluate the ability of RFID technology to track consumable items. These consumables, which include office supplies and clothing, are regularly supplied to ISS and can be tagged on the ground. Automation will eliminate line-of-sight auditing requirements, directly saving crew time. This first step in automating an inventory tracking system will pave the way for future uses of RFID for inventory tracking in space. Not only are there immediate benefits for ISS applications, it is a crucial step to ensure efficient logistics support for future vehicles and exploration missions where resupplies are not readily available. Following a successful initial test, the team plans to execute additional tests for new technology, expanded operations concepts, and increased automation.

  9. Extracting strategic value from nuclear assets

    International Nuclear Information System (INIS)

    Over the past 40 yr, nuclear power has played an increasingly important role as a provider of the electric generation capacity in the US. As expanding technologies and innovative business processes continue to provide for economic growth and development, electricity will grow as a progressively larger share of total energy consumption on both a national and global scale. However, restructuring and deregulation continue to shape the electric utility industry and provide testing platforms for those competitive technologies in power generation. It is important that the nuclear option be closely examined and the appropriate strategies be developed for maintaining and improving the utilization of this valuable resource during this very demanding period of industry transition. The articulation and execution of viable strategies are crucial when considering that (a) 40% of existing nuclear capacity will retire within the next 15 yr and (b) 25% of the current nuclear work force will retire within the next 10 yr. Therefore, nuclear power must be able to identify and extract the strategic values of its intrinsic characteristics and core benefits to continue as an important commodity supplier in this energy marketplace. The authors examine the current competitive energy marketplace and explore the necessary business elements that both executive management and senior technical officers must consider when developing strategies and initiatives for rationalizing and optimizing nuclear assets. Costs alone are not the sole measure of whether nuclear will be operationally competitive in this new marketplace. The key elements and issues of nuclear generation are evaluated in three categories: industry environment, market responses, and strategic options and initiatives. The first two areas are covered in a cursory fashion, enabling the opportunity to develop the last item (options and initiatives) in the context of the activities and expectations of the external marketplace

  10. The 1998 annual: Focusing on asset quality

    International Nuclear Information System (INIS)

    Operational and financial activities of Newport Petroleum Corporation during fiscal year 1998 are reviewed. Despite the low oil prices, and the consequent reduction in industry activity and financial results, the Company continued to focus on high quality assets. The Company improved its proved and probable reserves by 21.3 million barrels of oil equivalent, increasing its reserve life index to over 10 years. Reserve addition costs in 1998 were a competitive $ 7.08 per barrel of oil equivalent. The Company produced more than 20,000 barrels of oil equivalent per day, generating revenue of $ 141 million. The Company acquired an interest in the Caroline Gas Unit for $ 165 million late in 1998 and experienced success with the drilling of two wells. At year end, reserves of approx. 575 bcf of raw gas in place were attributed to this area. New light oil discoveries were made in the Rigel area of northern British Columbia and the Shiningbank area of west-central Alberta. Both properties have significant development potential. While share price performance was essentially flat for the year, the target remains to add value on a per share basis over the long term. The outlook for natural gas appears to be positive, with markets expected to be robust with prices tracking supply/demand fundamentals. The completion of additional pipeline capacity from Alberta into U.S. markets has resulted in a lowering of the differential to U.S. prices, and as a result, it appears that pricing in western Canada will improve in the next several years. Although the outlook for oil prices remains uncertain, with recent OPEC commitments to curtail volumes, there is reason for cautious optimism. Overall, the Company is confident that it has the financial strength to not only weather an extended period of oil price weakness, but to continue to expand its activity levels and prosper

  11. Asset Management Recovery after the Disater: State of Knowledge

    Directory of Open Access Journals (Sweden)

    Sapri Maimunah

    2016-01-01

    Full Text Available Asset, infrastructure and business can be destroyed in a split seconds. It only takes a minute for natural disasters such as flood, hurricane and others to happen that will stop the business process and destroying the business as well as their assets. Late response towards the disaster will bring disastrous impact not only to the people but also the social and economic of the impacted people and area. It is therefore important for the organization to ensure speedy recovery of the disaster’s impact such as the assets in an effort to ensure the business survival and facilitating societal and economic recovery. Therefore this paper examines the state of knowledge in relation to the asset management recovery especially after the disaster. Following to that, this paper will discuss the literatures involves in asset management recovery such as disaster management and business continuity plan (BCP. Towards the end, this paper suggests that the effect of lack of planning in asset management recovery will lead to an untold damage towards the community, organization as well as the business, taking months or even years to rectify. In some cases, businesses are shut down for goods due to loss data as well as other emerge problems cause by the disaster.

  12. Stochastic dominance on optimal portfolio with one risk-less and two risky assets

    OpenAIRE

    Jean Fernand Nguema

    2005-01-01

    The paper provides restrictions on the investor's utility function which are sufficient for a dominating shift no decrease in the investment in the respective asset if there are one risk free asset and two risky assets in the portfolio. The analysis is then confined to portfolio in which the distributions of assets differ by a first-degree-stochastic dominance shift.

  13. 17 CFR 229.1112 - (Item 1112) Significant obligors of pool assets.

    Science.gov (United States)

    2010-04-01

    ... obligors of pool assets. 229.1112 Section 229.1112 Commodity and Securities Exchanges SECURITIES AND... (Regulation AB) § 229.1112 (Item 1112) Significant obligors of pool assets. (a) Descriptive information... the pool assets with the obligor. (4) The material terms of the pool assets and the agreements...

  14. 26 CFR 1.338-7 - Allocation of redetermined ADSP and AGUB among target assets.

    Science.gov (United States)

    2010-04-01

    ...: Asset class Asset Fair market value V Building $ 100 V Stock of X (not a target) 200 Total 300 (B) T has... target assets. 1.338-7 Section 1.338-7 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE... redetermined ADSP and AGUB among target assets. (a) Scope. ADSP and AGUB are redetermined at such time and...

  15. 29 CFR 4281.17 - Asset valuation methods-in general.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Asset valuation methods-in general. 4281.17 Section 4281.17... MASS WITHDRAWAL Valuation of Plan Benefits and Plan Assets § 4281.17 Asset valuation methods—in general. (a) General rule. The plan sponsor shall value plan assets as of the valuation date, using...

  16. Radioactive waste today - an asset tomorrow

    Energy Technology Data Exchange (ETDEWEB)

    Holmstrand, M. [Norwegian Radiation Protection Authority (Norway)

    2014-07-01

    possibility that extracted thorium could be stored in the form of thorium oxide and later used as fuel in nuclear power plants. If this is feasible, then today's radioactive waste could be tomorrow's asset. Document available in abstract form only. (authors)

  17. Illuminating Asset Value through New Seismic Technology

    Science.gov (United States)

    Brandsberg-Dahl, S.

    2007-05-01

    The ability to reduce risk and uncertainty across the full life cycle of an asset is directly correlated to creating an accurate subsurface image that enhances our understanding of the geology. This presentation focuses on this objective in areas of complex overburden in deepwater. Marine 3D seismic surveys have been acquired in essentially the same way for the past decade. This configuration of towed streamer acquisition, where the boat acquires data in one azimuth has been very effective in imaging areas in fairly benign geologic settings. As the industry has moved into more complicated geologic settings these surveys no longer meet the imaging objectives for risk reduction in exploration through production. In shallow water, we have seen increasing use of ocean bottom cables to meet this challenge. For deepwater, new breakthroughs in technology were required. This will be highlighted through examples of imaging below large salt bodies in the deep water Gulf of Mexico. GoM - Mad Dog: The Mad Dog field is located approximately 140 miles south of the Louisiana coastline in the southern Green Canyon area in water depths between 4100 feet to 6000 feet. The complex salt canopy overlying a large portion of the field results in generally poor seismic data quality. Advanced processing techniques improved the image, but gaps still remained even after several years of effort. We concluded that wide azimuth acquisition was required to illuminate the field in a new way. Results from the Wide Azimuth Towed Streamer (WATS) survey deployed at Mad Dog demonstrated the anticipated improvement in the subsalt image. GoM - Atlantis Field: An alternative approach to wide azimuth acquisition, ocean bottom seismic (OBS) node technology, was developed and tested. In 2001 deepwater practical experience was limited to a few nodes owned by academic institutions and there were no commercial solutions either available or in development. BP embarked on a program of sea trials designed to both

  18. Radioactive waste today - an asset tomorrow

    International Nuclear Information System (INIS)

    extracted thorium could be stored in the form of thorium oxide and later used as fuel in nuclear power plants. If this is feasible, then today's radioactive waste could be tomorrow's asset. Document available in abstract form only. (authors)

  19. Should All Capital Goods of Governments be Recognised as Assets in Financial Accounting?

    OpenAIRE

    Christiaens, J.; J. ROMMEL; Barton, A; P. EVERAERT

    2008-01-01

    Although accrual accounting has become increasingly more popular in many governments over recent years, some issues remain unresolved. Previous literature questioned whether non-business-like governmental assets can be adequately capitalized. Whereas these studies mostly focussed on specific types of assets, such as infrastructure, military assets or heritage assets, this paper expands these views by taking a holistic approach to their treatment. Because such specific types of assets share fu...

  20. Racial and ethnic differences in wealth and asset choices.

    Science.gov (United States)

    Choudhury, S

    White households in the United States are far wealthier than black or Hispanic households, a disparity that remains unexplained even after taking into account income and demographic factors. This article uses data from the Health and Retirement Study to examine various components of aggregate wealth, including housing equity, nonhousing equity, financial assets in general, and risky assets in particular. It inspects asset choices by race and ethnicity and assesses whether differences in saving behavior--and, consequently, in rates of return on assets--are possible sources of the wealth gap. It also demonstrates the equalizing effect of pension wealth and Social Security wealth on total wealth. Racial and ethnic differences in housing equity narrow among households in the higher income quartiles, whereas differences in nonhousing equity generally widen as income increases. The widening gap in nonhousing equity stems from differences in financial asset holdings, particularly risky assets. At every income quartile and educational level, the percentage of black and Hispanic households that own risky, higher-yielding assets in considerably smaller than the percentage of white households. Thus, some of the wealth gap appears to be attributable to differences in saving behavior. Understanding how people save--in particular, knowing whether certain people will be more vulnerable financially because of their saving choices--helps policymakers assess older Americans' financial preparedness for retirement and anticipate their economic well-being thereafter. Lower rates of investment in the financial market will probably result in slower wealth creation in minority households. Recognizing this, some organizations are trying to open opportunities for minority households to invest in the financial market. This is a positive step toward narrowing the wealth divide. Such efforts will become even more critical if Social Security reform places increased responsibility on individuals

  1. 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.

  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. REVALUATION OF TANGIBLE ASSETS FROM ACCOUNTING AND FISCAL PERSPECTIVES

    Directory of Open Access Journals (Sweden)

    MARIANA GURAU

    2011-04-01

    Full Text Available Acknowledged by the accounting regulations conform to the European directives inside the alternative assessment norms, the revaluation of tangible assets is also accepted by the International Accounting Standards as an allowed alternative treatment. As there is a real interaction between accountancy and taxation, the present study aims to analyze the fiscal vision on the revaluation, the manner in which the above mentioned accepts the revaluation of tangible assets. It is a known fact that the accounting information is used by the taxation as an object and a support in order to determine and to settle the assessments, the taxes and the contributions. Still, the taxation authority reserves the rights to punctually impose some financial treatments distinct to the accounting rules. This also happens with the revaluation of tangible assets, and this is exactly what we emphasize in the present paper.

  4. Variable capacity utilization, ambient temperature shocks and generation asset valuation

    International Nuclear Information System (INIS)

    This paper discusses generation asset valuation in a framework where capital utilization decisions are endogenous. We use real options approach for valuation of natural gas fueled turbines. Capital utilization choices that we explore include turning on/off the unit, operating the unit at increased firing temperatures (overfiring), and conducting preventive maintenance. Overfiring provides capacity enhancement which comes at the expense of reduced maintenance interval and increased costs of part replacement. We consider the costs and benefits of overfiring in attempt to maximize the asset value by optimally exercising the overfire option. In addition to stochastic processes governing prices, we incorporate an exogenous productivity shock: ambient temperature. We consider how variation in ambient temperature affects the asset value through its effect on gas turbine's productivity. (author)

  5. 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.

  6. Analysis of Factors Influencing the Turnover Efficiency of Quick Assets in Agricultural Companies

    Institute of Scientific and Technical Information of China (English)

    ZOU Ling-li; JIA Xian-wei

    2012-01-01

    We select 34 representative agricultural listed companies as the study object,to analyze the characteristics of quick assets in agricultural companies.The ratio between quick assets and total assets roughly displays normal distribution,with the peak value up to 40%;the distribution figure shape of the ratio between quick assets and liquid asset displays normal distribution,with the peak value up to 63%.Taking the case of typical agricultural company,Yuan Longping High-Tech Agriculture Co.,Ltd.,we analyze the factors influencing turnover of quick assets,and the main factors influencing the turnover of quick assets in agricultural companies are monetary funds and receivables.We establish the multiple linear regression model,and draw the conclusion that the turnover efficiency of quick assets is significantly affected by the ratio between cash assets and income,turnover rate of receivables,and quickness ratio.

  7. European Interoperability Assets Register and Quality Framework Implementation.

    Science.gov (United States)

    Moreno-Conde, Alberto; Thienpont, Geert; Lamote, Inge; Coorevits, Pascal; Parra, Carlos; Kalra, Dipak

    2016-01-01

    Interoperability assets is the term applied to refer to any resource that can support the design, implementation and successful adoption of eHealth services that can exchange data meaningfully. Some examples may include functional requirements, specifications, standards, clinical models and term lists, guidance on how standards may be used concurrently, implementation guides, educational resources, and other resources. Unfortunately, these are largely accessible in ad hoc ways and result in scattered fragments of a solution space that urgently need to be brought together. At present, it is well known that new initiatives and projects will reinvent assets of which they were unaware, while those assets which were potentially of great value are forgotten, not maintained and eventually fall into disuse. This research has defined a quality in use model and assessed the suitability of this quality framework based on the feedback and opinion of a representative sample of potential end users. This quality framework covers the following domains of asset development and adoption: (i) Development process, (ii) Maturity level, (iii) Trustworthiness, (iv) Support & skills, (v) Sustainability, (vi) Semantic interoperability, (vii) Cost & effort of adoption (viii) Maintenance. When participants were requested to evaluate how the overall quality in use framework, 70% would recommend using the register to their colleagues, 70% felt that it could provide relevant benefits for discovering new assets, and 50% responded that it would support their decision making about the recommended asset to adopt or implement in their organisation. Several European projects have expressed interest in using the register, which will now be sustained and promoted by the the European Institute for Innovation through Health Data. PMID:27577473

  8. The risk of stranded assets for utilities in Canada

    International Nuclear Information System (INIS)

    The problems of dealing with stranded assets in Canada and the United States were discussed. Compared to the United States, the risk associated with stranded assets for utilities in Canada was considered to be relatively low because of the following factors: (1) low variable cost, (2) isolation, (3) lack of transmission interconnection capacity, (4) lack of tight synchronization in North America, (5) the likelihood of an increase in natural gas prices, (6) the absence of jurisdictional disputes such as FERC versus the states, (7) social considerations, (8) the learning curve, (9) politics, (10) weak balance sheets, (11) relatively low electricity prices, (12) the weak Canadian dollar, and (13) the possibility of refinancing at lower interest rates. Ontario Hydro, New Brunswick and Nova Scotia Power are the three Canadian utilities that may have stranded costs. For Ontario Hydro and New Brunswick Power the stranded costs would be related to nuclear generator problems, whereas for Nova Scotia Power, the stranded costs would be related to the thermal generating base, the threat from Sable Island Gas and the changing tax structure of the utility. Some other reasons why stranded assets could be created in Canada would include low variable costs and high fixed costs, over capacity of at least 30 per cent in generation, limited domestic energy growth, competitive threat from gas, reliability and safety of nuclear plants, and technology change. Five factors in terms of which stranded assets can be expressed are: (1) variable cost definition, (2) total cost definition, (3) operating profit definition, (4) wide geographic definition, and (5) free market definition. In calculating stranded assets, the number of years over which the assets are recovered and the discount rate are considered to be key factors. 26 tabs

  9. 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

  10. 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....

  11. ON THE OPTIMAL PACKAGE FORMAT FOR ASSET SELLERS

    OpenAIRE

    Ming-Song Kao; Chih-Hsiang Hsu; Chung-Chih Liao

    2009-01-01

    A seller who owns two common-value assets can choose to either sell them as a bundle or separately. In this paper, we present a theoretical model to select the optimal selling option when there is asymmetric information between the seller and the buyers. Our main finding is that separate selling makes the seller fall into a bilateral monopoly environment, in which the assets are sold through bargaining, while bundled selling leads to a competitive bidding environment. When the seller’s barg...

  12. THE INTANGIBLE ASSETS INVESTMENTS. CHARACTERISTICS AND THE ACCOUNTING TREATMENT

    Directory of Open Access Journals (Sweden)

    Prediscan Mariana

    2011-07-01

    Full Text Available In the knowledge-based economy the fundamental determinants of the enterprise value, in the present, have an intangible nature. The intangible investments are the most important factors of the enterprise success. Wealth, growth and welfare are driven nowadays by intangible investments. The knowledge economy is characterized by huge investments in human capital and informational technology. Despite of the increased importance of intangible assets, as the source of the firm` competitive advantages, the information regarding these kind of assets, both available in the inside of the firm and, which is presented to the externals, is pour. In this paper I present the reasons for this situation.

  13. Asset Composition and Performance of Swedish Listed Mutual Funds

    OpenAIRE

    Javidfar, Fargol; Luo, Zhiwen

    2014-01-01

    Fund investments are very popular in Sweden. However, we have the impression that despite this popularity, the average fund investor in Sweden does not pay much attention to the importance and possible link of fund’s asset composition features (e.g. Asset class, Holdings, and Geo-exposure) to fund’s performance. Instead, S/he relies on factors such as fees, risk levels, historical performance, etc. in her/his investment decisions. Similarly, academic studies mainly focus on attributes such as...

  14. Effect of False Confidence on Asset Allocation Decisions of Households

    Directory of Open Access Journals (Sweden)

    Swarn Chatterjee

    2014-01-01

    Full Text Available This paper investigates whether false confidence, as characterized by a high level of personal mastery and a low level of intelligence (IQ, results in frequent investor trading and subsequent investor wealth erosion across time. Using the National Longitudinal Survey (NLSY79, change in wealth and asset allocation across time is modeled as a function of various behavioral, socio-economic and demographic variables drawn from prior literature.  Findings of this research reveal that false confidence is indeed a predictor of trading activity in individual investment assets, and it also has a negative impact on individual wealth creation across time.

  15. 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.

  16. 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

  17. 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

  18. 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.

  19. Dynamic asset allocation and downside-risk aversion

    NARCIS (Netherlands)

    A.B. Berkelaar (Arjan); R.R.P. Kouwenberg (Roy)

    2000-01-01

    textabstractThis paper considers dynamic asset allocation in a mean versus downside-risk framework. We derive closed-form solutions for the optimal portfolio weights when returns are lognormally distributed. Moreover, we study the impact of skewed and fat-tailed return distributions. We find that th

  20. An Overview of Intellectual Property and Intangible Asset Valuation Models

    Science.gov (United States)

    Matsuura, Jeffrey H.

    2004-01-01

    This paper reviews the economic models most commonly applied to estimate the value of intellectual property and other forms of intangible assets. It highlights the key strengths and weaknesses of these models. One of the apparent weaknesses of the most commonly used valuation models is the failure to incorporate legal rights into their…

  1. 77 FR 36228 - Financial Asset Securitization Investment Trusts

    Science.gov (United States)

    2012-06-18

    ... the FASIT provisions were published in the Federal Register on February 7, 2000 (65 FR 5807). (Section... (REG-100276-97) published in the Federal Register on February 7, 2000 (65 FR 5807) is withdrawn. Steven... Internal Revenue Service 26 CFR Part 1 RIN 1545-AU94 Financial Asset Securitization Investment...

  2. Beyond Level 4: Tying HPT to Valuation of Intangible Assets.

    Science.gov (United States)

    Gayeski, Diane

    2001-01-01

    Considers how human performance technology (HPT) can achieve greater recognition in the mainstream business world by developing interventions that are framed in terms of enhancing the overall valuation of the organization's intangible assets. Discusses a consulting model that can be used with clients and stakeholders to identify barriers to…

  3. A Data Mining Approach to Modelling of Water Supply Assets

    DEFF Research Database (Denmark)

    Babovic, V.; Drecourt, J.; Keijzer, M.;

    2002-01-01

    supply assets are mainly situated underground, and therefore not visible and under the influence of various highly unpredictable forces. This paper proposes the use of advanced data mining methods in order to determine the risks of pipe bursts. For example, analysis of the database of already occurred...

  4. 17 CFR 210.6-05 - Statements of net assets.

    Science.gov (United States)

    2010-04-01

    ... 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Registered Investment Companies § 210.6-05... assets are represented by investments in securities of unaffiliated issuers. If presented in...

  5. Pareto Improving Price Regulation when the Asset Market is Incomplete

    NARCIS (Netherlands)

    Herings, P.J.J.; Polemarchakis, H.M.

    1999-01-01

    When the asset market is incomplete, competitive equilibria are constrained suboptimal, which provides a scope for pareto improving interventions. Price regulation can be such a pareto improving policy, even when the welfare effects of rationing are taken into account. An appealing aspect of price r

  6. Scenario tree generation and multi-asset financial optimization problems

    DEFF Research Database (Denmark)

    Geyer, Alois; Hanke, Michael; Weissensteiner, Alex

    2013-01-01

    , even if the scenario trees generated by scenario reduction are arbitrage-free, the solutions are biased and highly variable. These results hold for correlated and uncorrelated asset returns, as well as for normal and non-normal returns. © 2013 Elsevier B.V. All rights reserved....

  7. 7 CFR 3550.54 - Calculation of income and assets.

    Science.gov (United States)

    2010-01-01

    ... other forms of capital investments including life insurance policies and retirement plans that are... (including gifts); (6) Lump sum additions to family assets such as inheritances; capital gains; insurance payments under health, accident, or worker's compensation policies; settlements for personal or...

  8. PORTFOLIO SELECTION THEORY WITH STRICTLY POSITIVE SUPPLY OF RISKLESS ASSET

    Institute of Scientific and Technical Information of China (English)

    ZHANG Shunming

    2000-01-01

    This paper considers the portfolio selection theory with strictly positive supply of riskless asset. The portfolio selection problem is described as a quadratic program, then this problem is solved by the Kuhn-Tucker condition and the method of artificial variable.

  9. Challenging the myths: the mid-stream asset provider's view

    International Nuclear Information System (INIS)

    The term 'mid-stream asset business' implies custom processing and gathering, meaning that a gas producer sells his gas at the wellhead, thereby transferring the business of gathering, processing and marketing of the gas and liquids to a third party. The concept is popular in the United States, but is not yet common in Canada. In Canada, producers own the gas gathering and processing systems. The mid-stream asset business was claimed to be more user friendly than the old custom processing business. Three myths about the mid-stream asset business were challenged: (1) all the risk is on the producer, the processor takes no risk, (2) the mid-stream asset business is an expensive means of financing further exploration, and (3) owning and operating gathering and processing facilities is an integral part of a producer's business. Arguments were brought forth to dispel these myths and to emphasize that a processor should be prepared to accept risks associated with the commodity, prices, production and operations. To be operationally effective, the producer's flexibility and strategic advantages must approach the same level as if he were the owner of the facility

  10. 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.

  11. Economic evaluation of the efficiency of use of circulating assets

    Directory of Open Access Journals (Sweden)

    Svetlana Mullinova

    2015-06-01

    Full Text Available The article reviewed the status of inventory in the organization. The results of an economic study of current assets and their effect on the financial condition of the organization. The analysis of indicators of working capital and their efficiency. The recommendations to speed up inventory turnover may find practical application in the accounting and analytical activity of the agricultural organizations.

  12. Managing Pressure Vessel Equipment as a Capital Asset.

    Science.gov (United States)

    Robinson, Glenn; Trombley, Robert; Shultes, Kenneth

    1999-01-01

    Argues the importance of treating facility pressure equipment as capital assets and discusses three steps in their management process. The following steps are discussed: understanding the condition of all major equipment; altering maintenance practices and procedures; and developing a long-term equipment strategy such as increased monitoring,…

  13. Asset Attribution Stability and Portfolio Construction: An Educational Example

    Science.gov (United States)

    Chong, James T.; Jennings, William P.; Phillips, G. Michael

    2014-01-01

    This paper illustrates how a third statistic from asset pricing models, the R-squared statistic, may have information that can help in portfolio construction. Using a traditional CAPM model in comparison to an 18-factor Arbitrage Pricing Style Model, a portfolio separation test is conducted. Portfolio returns and risk metrics are compared using…

  14. Asset Inequality and Economic Activity in Artificial Societies

    Science.gov (United States)

    Kikuchi, Toshiko

    In this paper, using multi-agent simulations, the effect asset inequality has on an artificial society is analyzed. It is shown that it is possible for a sustainable society to decrease in asset inequality and at the same time increase economic activity. In sustainable societies, the asset inequality increases as the consumption tax rate is raised, and in artificial societies where the tax rate is the same, inequality increases in the society in which agents with even small a surplus undertake unselfish actions. In sustainable societies which employ both income and consumption tax, an increase in asset inequalities leads to an increase economic activity. But, in sustainable societies which levy only the income tax, this result does not necessarily hold. These results show that if economic activity is increased in sustainable societies where the consumption tax rate is raised for the fiscal stability, an inequality expansion is an acceptable consequence. However, the sustainable society with the highest economic activity is realized when only the income tax is levied. In sustainable societies which levy only the income tax, it is possible to decrease inequality while simultaneously increasing economic activity.

  15. Yan Theorem in L∞ with Applications to Asset Pricing

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    We prove an L∞ version of the Yan theorem and deduce from it a necessary condition for the absence of free lunches in a model of financial markets, in which asset prices are a continuous Rd valued process and only simple investment strategies are admissible. Our proof is based on a new separation theorem for convex sets of finitely additive measures.

  16. The Space Sector and Civilization of Intangible Assets

    Science.gov (United States)

    Hernandez, Daniel

    The value of a company is no longer solely measured according to the value of its assets (stock of raw materials, products being manufactured or finished products, machines and tools, real estate, etc.). Intangible assets are also becoming increasingly important, especially in Western economies which have massively transferred the production of goods to the so-called emerging countries offering lower labor costs. Numerous companies subcontracting their production focus on the study and design of new products and their marketing. As a result, the intangible assets (patents, brands, distribution networks, etc.) represent a growing proportion of the value of companies. Nevertheless, it is not impossible, as we saw several decades ago with Japan, for example, that the "emerging" countries which largely depend on contract production and copies, move more or less quickly to economies including the entire chain from design to production of original products. We will analyze here the importance of intangible assets in the space sector, especially as regards orbital systems (satellites and associated ground facilities). While the space sector remains dominated by states through the orders they generate and the regulations they impose on the space industry, the commercial market continues to develop and, with it, the importance of marketing actions and more generally the development of distinctive brands.

  17. Choosing a Digital Asset Management System That's Right for You

    Science.gov (United States)

    Kaplan, Deborah

    2009-01-01

    Planning is necessary in selecting the appropriate digital asset management system for your institution. Key issues one should consider in planning: the objects to be stored, where they come from, and how they will be accessed; the end users; and the needed staffing levels for system maintenance. During the development of the system requirements,…

  18. Investment in Relationship-Specific Assets : Does Finance Matter?

    NARCIS (Netherlands)

    Strieborny, M.; Kukenova, M.

    2010-01-01

    An influential strand of literature starting with the Nobel Prize winning work of Oliver Williamson (1971, 1975) argues that a rational agent underinvests in relationship-specific assets due to the possibility of an opportunistic behaviour on the part of her contractual partner. We first combine the

  19. Development of an Asset Map of Medical Education Research Activity

    Science.gov (United States)

    Christiaanse, Mary E.; Russell, Eleanor L.; Crandall, Sonia J.; Lambros, Ann; Manuel, Janeen C.; Kirk, Julienne K.

    2008-01-01

    Introduction: Medical education research is gaining recognition as scholarship within academic medical centers. This survey was conducted at a medium-sized academic medical center in the United States. The purpose of the study was to learn faculty interest in research in medical education, so assets could be used to develop educational scholarship…

  20. International asset pricing under segmentation and PPP deviations

    NARCIS (Netherlands)

    I. Chaieb; V. Errunza

    2007-01-01

    We analyze the impact of both purchasing power parity (PPP) deviations and market segmentation on asset pricing and investor's portfolio holdings. The freely traded securities command a world market risk premium and an inflation risk premium. The securities that can be held by only a subset of inves

  1. 26 CFR 1.168(i)-1 - General asset accounts.

    Science.gov (United States)

    2010-04-01

    ... depreciation method; (C) Have the same applicable recovery period; (D) Have the same applicable convention; and... recovery period and/or a more accelerated depreciation method) for which the depreciation allowance for the... applicable depreciation method, recovery period, and convention for the assets in the account....

  2. Internet skills : vital assets in an information society

    NARCIS (Netherlands)

    Deursen, van Alexander Johannes Aloisius Maria

    2010-01-01

    Internet Skills, vital assets in an information society starts with a brief history of communication technologies. It appears that in the course of history, these technologies have changed and have put increasing demands on the people that use them. Moreover, the stakes for not being able to keep up

  3. 26 CFR 1.507-7 - Value of assets.

    Science.gov (United States)

    2010-04-01

    ... liabilities of the foundation, including appropriate estimated and contingent liabilities. Thus, a determination of net assets may reflect reductions for any liability or contingent liability for tax imposed... termination, for any liability or contingent liability for failures to correct such acts or failures to...

  4. Fixed assets accounting for HANDI 2000 business management system

    Energy Technology Data Exchange (ETDEWEB)

    Wilson, D.

    1998-08-24

    All fixed assets used by the Project Hanford Management Contract are normally acquired or built using capital funding. Replacement Property Record Units (PRUS) may be expense funded and tracked and capitalized upon installation. A specific Department of Energy capitalization policy is followed.

  5. Active sensor tags for global visibility of asset readiness

    Science.gov (United States)

    Burghard, B. J.; Silvers, K. L.; Skorpik, J. R.

    2005-05-01

    The era of wireless communication and discrete, autonomous sensors platforms is upon us. Advances in radio-frequency (RF) technology from simple two-way personal communications to smart, independent, sensor command, and control units has greatly expanded the applications domain. In the past four years, Pacific Northwest National Laboratory (PNNL) scientists and engineers have developed smart sensor tags (health tags) for the Army to monitor environmental conditions of high value assets over their lifetime (10 yrs). These field tested health tags uniquely identify individual assets, record and store data, run diagnostic and prognostic protocols, identify asset performance status (GO, CAUTION, NO-GO), and provide all this information over a wireless RF link to a portable, hand held reader. Leveraging the innovation achieved for health monitoring tags, the next generation active sensor tag has been developed (FlexiTag) providing reduced tag size and manufacturing cost, greater sensor interface capabilities, and a flexible substrate for surface mount conformity. The design has a greatly reduced part count due to the use of newly available, highly integrated RF chip sets. In addition to asset health monitoring, the new tag platform opens up additional application areas such as TTL (tagging, tracking, and locating), real-time machine fault monitoring, and ad-hoc sensor networking. This paper will compare and contrast the FlexiTag to its predecessors and discuss the current application areas it is being applied to.

  6. 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...

  7. 13 CFR 107.506 - Safeguarding Licensee's assets/Internal controls.

    Science.gov (United States)

    2010-01-01

    .../Internal controls. 107.506 Section 107.506 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION... Safeguarding Licensee's assets/Internal controls. You must adopt a plan to safeguard your assets and monitor... your control procedures....

  8. Problems with Cash and Other Non-Operating Assets Value in the Process of Valuing Company

    OpenAIRE

    Piotr Szczepankowski

    2007-01-01

    In economic practice the process of valuing enterprises is based on potential earnings from companies operating assets ñ operating fixed assets and operating working capital. Cash and other non-operating assets (mainly financial) are treated as unproductive, non-income assets. Eventually, in process of pricing their current, accounting value is added to income value of enterprise or cash is treated as source for quick covering the debts of firm, what of course indirectly improve for better va...

  9. Empirical evaluation of asset pricing models: Arbitrage and pricing errors over contingent claims

    OpenAIRE

    Wang, Zhenyu; Zhang, Xiaoyan

    2006-01-01

    Hansen and Jagannathan (1997) have developed two measures of pricing errors for asset pricing models: the maximum pricing error in all static portfolios of the test assets and the maximum pricing error in all contingent claims of the assets. In this paper, we develop simulation-based Bayesian inference for these measures. While the literature reports that the time-varying extensions substantially reduce pricing errors of classic models on the standard test assets, our analysis shows that the ...

  10. WAYS TO OVERCOME THE PROBLEMS OF INTANGIBLE ASSETS ACCOUNTING OF THE UKRAINIAN ENTERPRISES

    OpenAIRE

    Yu. S. Barash; BULHAKOVA Yu.V.; BOZHOK, N. O.; HOLOVKO F.P.

    2014-01-01

    Introduction. In modern conditions, one of the priority instruments of profit formation is the use of assets that do not have a material form. Using intangible assets (IA) is performed the capitalization of enterprises, i.e. the conversion of their capacity in the market outcome. Improvement of intangible assets accounting will enhance the competitiveness of Ukrainian enterprises. Purpose of the article is identification and justification of improvement areas of intangible assets accounting b...

  11. 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...

  12. Asset-backed Securitization -- a New Financing Channel for the Telecom Industry

    Institute of Scientific and Technical Information of China (English)

    2003-01-01

    Telecom enterprises are in urgent need of a large amount of funds for updating networks and expanding market shares, while asset-backed securitization is the most rapidly and vigorously growing product of financial innovation in the international capital market. Since telecom asset is characterized by long recovery period, poor liquidity, high quality and stable cash flow, which are the basic conditions for using asset-backed securitization to finance, asset-backed securitization can be a new financing way for telecom enterprises.

  13. 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…

  14. 26 CFR 1.338-6 - Allocation of ADSP and AGUB among target assets.

    Science.gov (United States)

    2010-04-01

    ... allocated among Class II acquisition date assets of target in proportion to the fair market values of such... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Allocation of ADSP and AGUB among target assets... among target assets. (a) Scope—(1) In general. This section prescribes rules for allocating ADSP...

  15. 78 FR 15062 - Cohen & Steers Real Assets Fund, Inc., et al.; Notice of Application

    Science.gov (United States)

    2013-03-08

    ... COMMISSION Cohen & Steers Real Assets Fund, Inc., et al.; Notice of Application March 4, 2013. AGENCY...: Cohen & Steers Real Assets Fund, Inc. (the ``Corporation''), Cohen & Steers Real Assets Fund, Ltd. (the ``Subsidiary''), and Cohen & Steers Capital Management, Inc. (``Cohen & Steers'' or the ``Advisor'')....

  16. What Young Children Need To Succeed: Working Together To Build Assets from Birth to Age 11.

    Science.gov (United States)

    Roehlkepartain, Jolene L.; Leffert, Nancy

    Providing children developmental assets such as family support, a caring neighborhood, positive values, and social skills will help them to grow up healthy, well-adjusted, and strong. This book spells out more than 1,000 practical, creative ways to build 40 key assets in children from birth to 11 years. The book describes developmental assets as…

  17. Youth Asset Mapping: Showcasing Youth Empowerment and Positive Youth-Adult Partnerships

    Science.gov (United States)

    Handy, Deborah J.; Rodgers, Kathleen Boyce; Schwieterman, Tiffany Anne

    2011-01-01

    Youth and adult partners participated in youth asset mapping, a form of action research, to assess community assets and youth involvement opportunities. Qualitative data were analyzed to examine youths' feelings of empowerment and experiences with adult partners. Asset mapping contributed to youth empowerment, especially when adults were engaging…

  18. Research on the Asset-Backed Securitization Financing of Large Stadium

    OpenAIRE

    Hongquan Li; Houzhong Jin; Dan Wang

    2011-01-01

    Along with the maturity and standardization of market, the asset-backed securitization financing is penetrating into the construction and operation of stadium, especially for the large stadium. In this paper, authors analyze the procedures of asset-backed securitization financing for stadium and the current situations, and put forward policy suggestions for the asset-backed securitization financing of large stadium in China.

  19. 18 CFR 367.4031 - Account 403.1, Depreciation expense for asset retirement costs.

    Science.gov (United States)

    2010-04-01

    ..., Depreciation expense for asset retirement costs. 367.4031 Section 367.4031 Conservation of Power and Water... § 367.4031 Account 403.1, Depreciation expense for asset retirement costs. This account must include the depreciation expense for asset retirement costs included in service company property....

  20. 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... the participants and beneficiaries of the plan. Ivy Asset Management Corporation Located in Jericho... Investment-Master Group Trust (the Group Trust), to Ivy Asset Management Corporation (Ivy), a party...

  1. Real options and asset valuation in competitive energy markets

    Science.gov (United States)

    Oduntan, Adekunle Richard

    The focus of this work is to develop a robust valuation framework for physical power assets operating in competitive markets such as peaking or mid-merit thermal power plants and baseload power plants. The goal is to develop a modeling framework that can be adapted to different energy assets with different types of operating flexibilities and technical constraints and which can be employed for various purposes such as capital budgeting, business planning, risk management and strategic bidding planning among others. The valuation framework must also be able to capture the reality of power market rules and opportunities, as well as technical constraints of different assets. The modeling framework developed conceptualizes operating flexibilities of power assets as "switching options' whereby the asset operator decides at every decision point whether to switch from one operating mode to another mutually exclusive mode, within the limits of the equipment constraints of the asset. As a current decision to switch operating modes may affect future operating flexibilities of the asset and hence cash flows, a dynamic optimization framework is employed. The developed framework accounts for the uncertain nature of key value drivers by representing them with appropriate stochastic processes. Specifically, the framework developed conceptualizes the operation of a power asset as a multi-stage decision making problem where the operator has to make a decision at every stage to alter operating mode given currently available information about key value drivers. The problem is then solved dynamically by decomposing it into a series of two-stage sub-problems according to Bellman's optimality principle. The solution algorithm employed is the Least Squares Monte Carlo (LSM) method. The developed valuation framework was adapted for a gas-fired thermal power plant, a peaking hydroelectric power plant and a baseload power plant. This work built on previously published real options valuation

  2. PENGARUH KOMITE AUDIT, RETURN ON ASSETS DAN DEBT TO TOTAL ASSETS TERHADAP AUDIT REPORT LAG PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

    OpenAIRE

    Ariani

    2014-01-01

    Penelitian ini dilakukan dengan tujuan untuk mengetahui pengaruh independensi komite audit terhadap audit report lag, mengetahui pengaruh return on assets terhadap audit report lag dan mengetahui pengaruh debt to total assets terhadap audit report lag. Penelitian ini dilakukan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2010 – 2012. Hasil penelitian menunjukkan bahwa independensi komite audit berpengaruh negatif terhadap audit report lag, return on assets berpen...

  3. The Impact of Leased and Rented Assets on Industry Productivity Measurement

    OpenAIRE

    Wang, Weimin; Moussaly, Karim

    2014-01-01

    Leasing is an important means of gaining access to assets, of obtaining finance, and of reducing a lessee?s exposure to the risks inherent to asset ownership. A lease can be either a financial lease (capital lease) or an operating lease (capital rental). A financial lease is one where the legal owner of an asset (lessor) passes the economic ownership to the user of the asset (lessee), who then accepts the operating risks and receives the economic benefits from using the asset in a productive ...

  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

    Full Text Available Background: With the evolution of data, via information into knowledge and beyond, intangible information assets (seen as an integral part of IT assets in this article increasingly come to fore. A contemporary issue facing organisations in the knowledge economy and beyond is how best to safeguard and derive optimum value from their evolving information assets. A well-known fact is that risk exists because there is the possibility of threats to an asset. Likewise, no assets equals no risk. Although a large body of work is addressing threat models, the nature of the assets of the knowledge economy and beyond has not been well researched.Objectives: To investigate the definition of information assets across a number of financial, risk and information technology standards, frameworks and regulations, in order to ascertain whether a coherent definition exists across the board. If there is none (or limited, then propose a workable definition that is apt for the knowledge economy and beyond.Method: Qualitative thematic content analysis and a comparative study based on four main themes (Assets, Types of Asset, Information, and Information Assets. This then serves as a basis for argumentation schemes that lead to a proposed re-definition. The qualitative research approach assists us to address the concern of the incoherent definition of information and information assets across the board.Results: Contrary to expectations, the research study found the current definition to be incoherent. When the asset to be controlled is not properly defined and understood, it stands the risk of not being identified properly. This implies that the effectiveness, efficiency, reliability of internal control, and compliance with the applicable legislation and regulations would not be appropriate. This article highlights the need for a fundamental shift in how information assets (valuable, but unvalued organisational intangible assets are being viewed and treated, especially

  5. Intertemporal Asset Allocation with Habit Formation in Preferences: An Approximate Analytical Solution

    DEFF Research Database (Denmark)

    Pedersen, Thomas Quistgaard

    assets: a risk free asset with constant return and a risky asset with a time-varying premium. We extend the ap- proach proposed by Campbell and Viceira (1999), which builds on log-linearizations of the Euler equation, intertemporal budget constraint, and portfolio return, to also contain the log......-linearized surplus consumption ratio. The "difference habit model" implies that the relative risk aversion is time-varying which is in line with recent ev- idence from the asset pricing literature. We show that accounting for habit a¤ects both the myopic and intertemporal hedge component of optimal asset demand...

  6. Emergent volatility in asset markets with heterogeneous agents

    Directory of Open Access Journals (Sweden)

    Honggang Li

    2001-01-01

    Full Text Available This paper examines the emergence of complex volatility in dynamic asset markets when there are heterogeneous agents. A discrete formulation is studied with two categories of market participants, fundamentalist traders who buy when the asset price is below the fundamental value and sell when it is above and noise traders who use moving average technical trading rules that can lead them to chase trends. Agents switch from one type of strategy to the other according to relative returns. A variety of outcomes are studied using numerical simulation, including variation of market price responsiveness to changes in excess demand, in switching behavior, and the introduction of noise. Bifurcation analysis of certain parameters is presented.

  7. Dynamic instability in a simple model of correlated assets

    CERN Document Server

    Raffaelli, G

    2005-01-01

    Portfolio theory maintains that investment should be diversified across assets in order to minimize risk. If investment has an impact on prices, it generates correlations between returns of assets, and hence modifies the risk measure which determines the optimal portfolio itself. Hence the correlations enter a feedback loop because they are generated by the very same strategies devised to exploit them. We introduce a simple phenomenological model which takes the impact of investment on the market explicitly into account. We show that the feedback on correlations gives rise to an instability when the impact of optimal portfolio investors exceeds a critical value. Close to the critical point, the model exhibits dynamical correlations very similar to those observed in real markets. Indeed fitting our model to real markets data, we find parameters close to the critical point. These results suggest that financial markets cannot be regarded as frictionless systems and that there is a limit to the amount of investme...

  8. Transmission assets investment timing using net present value curves

    International Nuclear Information System (INIS)

    Improvement and expansion of the transmission grid is still an unresolved issue in the new competitive environment. In current electricity markets, transmission lines have become assets that need financial instruments for investors who wish to ensure steady long-term returns and to withstand short-term market volatility. The timing and the combination of new transmission investments is key to analyze their long-term effects. This paper presents the concept of net present value (NPV) curve to estimate the best investment time for the investor, where the curve is constructed by calculating the NPVs resulting from the investment in successive years. A specific contract model based on financial transmission rights (FTR) is used for the NPV evaluation of transmission assets, and the stochastic properties of all variables related to the investment market structure are considered. The model is applied to the IEEE 24-bus Reliability Test System (RTS) showing the approach capabilities as a decision-aid tool for transmission investors.

  9. Guidelines for Provision and Interchange of Geothermal Data Assets

    Energy Technology Data Exchange (ETDEWEB)

    none,

    2014-07-03

    The US Department of Energy Office of Geothermal Technologies (OGT) is funding and overseeing the development of the National Geothermal Data System (NGDS), a distributed information system providing access to integrated data in support of, and generated in, all phases of geothermal development. NGDS is being built in an open paradigm and will employ state-of-the-art informatics approaches and capabilities to advance the state of geothermal knowledge in the US. This document presents guidelines related to provision and interchange of data assets in the context of the National Geothermal Data System. It identifies general specifications for NGDS catalog metadata and data content, and provides specific instructions for preparation and submission of data assets by OGT-funded projects.

  10. A new test on the conditional capital asset pricing model

    Institute of Scientific and Technical Information of China (English)

    LI Xia-fei; CAI Zong-wu; REN Yu

    2015-01-01

    Testing the validity of the conditional capital asset pricing model (CAPM) is a puzzle in the finance literature. Lewellen and Nagel[14] find that the variation in betas and in the equity premium would have to be implausibly large to explain important asset-pricing anomalies. Unfortunately, they do not provide a rigorous test statistic. Based on a simulation study, the method proposed in Lewellen and Nagel[14] tends to reject the null too frequently. We develop a new test procedure and derive its limiting distribution under the null hypothesis. Also, we provide a Bootstrap approach to the testing procedure to gain a good finite sample performance. Both simulations and empirical studies show that our test is necessary for making correct inferences with the conditional CAPM.

  11. Habit-based Asset Pricing with Limited Participation Consumption

    DEFF Research Database (Denmark)

    Bach, Christian; Møller, Stig Vinther

    We calibrate and estimate a consumption-based asset pricing model with habit formation using limited participation consumption data. Based on survey data of a representative sample of American households, we distinguish between assetholder and non-assetholder consumption, as well as the standard ...... enables the model to explain the equity premium puzzle and the risk-free rate puzzle simultaneously for a reasonable value of relative risk aversion.......We calibrate and estimate a consumption-based asset pricing model with habit formation using limited participation consumption data. Based on survey data of a representative sample of American households, we distinguish between assetholder and non-assetholder consumption, as well as the standard...

  12. Habit-based asset pricing with limited participation consumption

    DEFF Research Database (Denmark)

    Møller, Stig Vinther; Bach, Christian

    2011-01-01

    We calibrate and estimate a consumption-based asset pricing model with habit formation using limited participation consumption data. Based on survey data of a representative sample of American households, we distinguish between assetholder and non-assetholder consumption, as well as the standard ...... enables the model to explain the equity premium puzzle and the risk-free rate puzzle simultaneously for a reasonable value of relative risk aversion.......We calibrate and estimate a consumption-based asset pricing model with habit formation using limited participation consumption data. Based on survey data of a representative sample of American households, we distinguish between assetholder and non-assetholder consumption, as well as the standard...

  13. An Ising spin state explanation for financial asset allocation

    Science.gov (United States)

    Horvath, Philip A.; Roos, Kelly R.; Sinha, Amit

    2016-03-01

    We build on the developments in the application of statistical mechanics, notably the identity of the spin degree of freedom in the Ising model, to explain asset price dynamics in financial markets with a representative agent. Specifically, we consider the value of an individual spin to represent the proportional holdings in various assets. We use partial moment arguments to identify asymmetric reactions to information and develop an extension of a plunging and dumping model. This unique identification of the spin is a relaxation of the conventional discrete state limitation on an Ising spin to accommodate a new archetype in Ising model-finance applications wherein spin states may take on continuous values, and may evolve in time continuously, or discretely, depending on the values of the partial moments.

  14. Predictability of Asset Returns and the Efficient Market Hypothesis

    OpenAIRE

    Pesaran, Mohammad Hashem

    2010-01-01

    This paper is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk aversion and market efficiency. The paper then focuses on the theoretical foundation of the EMH, and show that market efficiency could co-exit with heterogeneous beliefs and individual irrationality so...

  15. 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.

  16. Dynamic portfolio selection without risk-free assets

    OpenAIRE

    Lam, Chi Kin; Xu,Yuhong; Yin, Guosheng

    2016-01-01

    We consider the mean--variance portfolio optimization problem under the game theoretic framework and without risk-free assets. The problem is solved semi-explicitly by applying the extended Hamilton--Jacobi--Bellman equation. Although the coefficient of risk aversion in our model is a constant, the optimal amounts of money invested in each stock still depend on the current wealth in general. The optimal solution is obtained by solving a system of ordinary differential equations whose existenc...

  17. A Simple Approach to CAPM, Option Pricing and Asset Valuation

    OpenAIRE

    Cesari, Riccardo; D’Adda, Carlo

    2003-01-01

    In this paper we propose a simple, intuitive approach to asset valuation in terms of marginal contributions to the characteristics (moments) of the market portfolio. Considering only the first two moments, mean and variance, the valuation equation is shown to correspond to Sharpe’s CAPM. A risk-neutral pricing formula is easily derived, showing the equivalence between CAPM and the Black and Scholes’ model. Extensions to higher moments like skewness and kurtosis are straightforward, providing ...

  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. Healthy youth development: the role of youth assets

    OpenAIRE

    MacKay, Laura Jean

    2007-01-01

    Much of the literature investigating adolescent health focuses on risk and problem behaviours and factors related to risk reduction. Recently, however, there has been increasing interest in identifying factors related to the positive aspects of adolescent health and development as opposed to the absence of risk. The current research extends this recent work by examining the relationship between youth assets and positive indicators of health and well-being among 30,588 adolescents in British C...

  20. PetroChina Continues to Restructure Lubricants Assets

    Institute of Scientific and Technical Information of China (English)

    Zhang Bingxing

    2002-01-01

    @@ PetroChina has recently separated the lubricants assets of the two oil refining enterprises at Liaohe Oil Field and Yumen Oil Field and transferred them to PetroChina Lubricating Oil Company. As a result,the lubricating oil company has currently nine regional lubricants production plants nationwide with six regional sales centers and two research centers,forming a large-scale lubricants complex with integration of production, marketing and technical development.

  1. Internet skills : vital assets in an information society

    OpenAIRE

    Deursen, van, D.S.

    2010-01-01

    Internet Skills, vital assets in an information society starts with a brief history of communication technologies. It appears that in the course of history, these technologies have changed and have put increasing demands on the people that use them. Moreover, the stakes for not being able to keep up with these technologies have also increased. Special attention is given to the Internet as a contributor to social inequality in contemporary information society. Since the impact of the Internet ...

  2. Optimized positioning of pre-disaster relief force and assets

    OpenAIRE

    Tean, Ee Shen

    2006-01-01

    Approved for public release; distribution is unlimited Recent events in the United States of America and Pakistan have exposed the shortcomings of existing planning in relief and humanitarian assistance in the face of large-scale natural disasters. This thesis develops a two-stage stochastic optimization model to provide guidance in the pre-positioning of relief units and assets, where budget, physical limitations and logistics are taken into account. Stochastic data include the numbers...

  3. Asset Accumulation and Labor Force Participation of Disability Insurance Applicants

    OpenAIRE

    Pian Shu

    2013-01-01

    Using panel data from the RAND Health and Retirement Study, I show that rejected applicants for Social Security Disability Insurance (SSDI) possess significantly more assets immediately prior to their application and exhibit lower labor force attachment than accepted applicants. These findings are consistent with the theoretical prediction that disability insurance may encourage individuals to save more in the present and plan to apply for disability benefits in the future, regardless of the ...

  4. Cultural and historical heritage: An asset for city branding

    Directory of Open Access Journals (Sweden)

    Cvijić Siniša

    2013-01-01

    Full Text Available Achieving wider recognition is part of the development agenda of contemporary cities, which are all confronted with the need to stand out and compete against one another. City branding reads as and plays an important role in this struggle for recognition. The identity of a city is generated over a long period, as it undergoes historical change, resulting in cultural diversity as the product of a specific environment. This paper discusses the possibility of using the cultural and historical heritage of Trebinje and its identity as an asset to create its city brand. Trebinje is a small city situated in the vicinity of Dubrovnik, a major tourist destination with a rich cultural and historical heritage and an excellent city brand. Dubrovnik may be seen as jeopardising the development of Trebinje’s authentic identity; on the other hand, the strong historical ties between the two cities can actually be used as an asset to develop Trebinje’s city brand. The material and non-material heritage which helped the formation of Trebinje’s identity, is analysed. The Mediterranean region in which it is located, its rich history, authentic architecture and different cultural influences, including the national poet Jovan Dučić, have all helped create Trebinje’s genius loci. The same factors may be used to communicate its new image. After that, the paper outlines models of the possible use of the recognised assets to brand the city and emphasise the importance of the effective presentation of these assets for creating a recognisable city image. It also proposes specific actions and interventions that may contribute to branding the city.

  5. 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...

  6. 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...

  7. 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...

  8. Securitization of residential solar photovoltaic assets: Costs, risks and uncertainty

    International Nuclear Information System (INIS)

    Limited access to low-cost financing is an impediment to high-velocity technological diffusion and high grid penetration of solar photovoltaic (PV) technology. Securitization of solar assets provides a potential solution to this problem. This paper assesses the viability of solar asset-backed securities (ABS) as a lower cost financing mechanism and identifies policies that could facilitate implementation of securitization. First, traditional solar financing is examined to provide a baseline for cost comparisons. Next, the securitization process is modeled. The model enables identification of several junctures at which risk and uncertainty influence costs. Next, parameter values are assigned and used to generate cost estimates. Results show that, under reasonable assumptions, securitization of solar power purchase agreements (PPA) can significantly reduce project financing costs, suggesting that securitization is a viable mechanism for improving the financing of PV projects. The clear impediment to the successful launch of a solar ABS is measuring and understanding the riskiness of underlying assets. This study identifies three classes of policy intervention that lower the cost of ABS by reducing risk or by improving the measurement of risk: (i) standardization of contracts and the contracting process, (ii) improved access to contract and equipment performance data, and (iii) geographic diversification. - Highlights: • Limited access to low-cost financing is hampering penetration of solar PV. • Solar asset-backed securities (ABS) provide a low cost financing mechanism. • Results for securitization of solar leases and power purchase agreements (PPA). • Securitization can significantly reduce project financing costs. • Identifies policy intervention that lower cost of ABS by reducing risk

  9. Portfolio selection and asset pricing under a benchmark approach

    Science.gov (United States)

    Platen, Eckhard

    2006-10-01

    The paper presents classical and new results on portfolio optimization, as well as the fair pricing concept for derivative pricing under the benchmark approach. The growth optimal portfolio is shown to be a central object in a market model. It links asset pricing and portfolio optimization. The paper argues that the market portfolio is a proxy of the growth optimal portfolio. By choosing the drift of the discounted growth optimal portfolio as parameter process, one obtains a realistic theoretical market dynamics.

  10. Capital Asset Pricing Model in building investment portfolio

    OpenAIRE

    Do, Trung

    2014-01-01

    Investing is one of the most interesting subjects for businesses and individuals. In investment finance, stock is a financial instrument that has been giving investors the highest return in comparison with others. However, it is also considered as the riskiest asset in investment. Therefore, investors need to fully understand the characteristics of stocks as well as approaches to trading. The author was inspired from one of the greatest investors Warren Buffett, and this study was made i...

  11. 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...

  12. Marketing assets: relating brand equity and customer equity

    OpenAIRE

    Jaime Romero; Yagüe, María J.

    2016-01-01

    Purpose: Brand equity and customer equity are inextricably linked. Some authors propose that marketing activities build these intangible assets simultaneously. In contrast, others suggest that brand equity is an antecedent of customer equity. In this research, we aim to shed light about the relationship between brand equity and customer equity, by empirically testing these two alternative explanations. Design/methodology/approach: We propose four research models that reflect these two alte...

  13. Properties of equilibrium asset prices under alternative learning schemes

    OpenAIRE

    Massimo Guidolin; Allan Timmerman

    2005-01-01

    This paper characterizes equilibrium asset prices under adaptive, rational and Bayesian learning schemes in a model where dividends evolve on a binomial lattice. The properties of equilibrium stock and bond prices under learning are shown to differ significantly compared with prices under full information rational expectations. Learning causes the discount factor and risk-neutral probability measure to become path-dependent and introduces serial correlation and volatility clustering in stock ...

  14. New empirical findings for international investment in intangible assets

    OpenAIRE

    Falk, Martin

    2013-01-01

    This study empirically analyses the determinants of greenfield investment in intangible assets in emerging and industrialized countries. Data consists of host parent country pairs of greenfield FDI projects in (i) software (except video games), (ii) advertising, public relations and related activities, (iii) headquarters, (iv) research & development and (v) design, development & testing. With a world market share of 33 per cent in 2011 in terms of the number of projects, descriptive statistic...

  15. 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.

  16. Topics in accounting for impairment of fixed assets

    OpenAIRE

    Kvaal, Erlend

    2005-01-01

    This dissertation consists of three topics related to the accounting for impairment of fixed assets, represented by five papers. The first topic is an empirical research into the functionality of the new generation of impairment standards. The second topic is an analytical discussion of one particular measurement aspect of the new impairment standards, which is their mandated discounting technique and the treatment of future tax cash flows. The third topic is a historical research into the or...

  17. Pricing of options on assets with level dependent stochastic volatility

    Science.gov (United States)

    Skabelin, Alexander

    2005-05-01

    Many asset classes, such as interest rates, exchange rates, commodities, and equities, often exhibit a strong relationship between asset prices and asset volatilities. This paper examines an analytical model that takes into account this level dependence of volatility. We demonstrate how prices of European options under stochastic volatility can be calculated analytically via inverse Laplace transformations. We also examine a Hull-White stochastic volatility expansion. While a success of this expansion in approximate computation of option prices has already been established empirically, the question of convergence has been left unanswered. We demonstrate, in this paper, that this expansion diverges essentially for all possible stochastic volatility processes. In contrast to a majority of volatility expansion models reported in the literature, we construct expansions that explicitly show the contribution of all of the variance moments. Such complete expansions are very useful in analyzing properties of option prices, as we demonstrate by examining why empirical volatility surfaces plotted as a function of the rescaled strike can sometimes exhibit striking time invariance.

  18. BIM: enabling sustainability and asset management through knowledge management.

    Science.gov (United States)

    Kivits, Robbert Anton; Furneaux, Craig

    2013-01-01

    Building Information Modeling (BIM) is the use of virtual building information models to develop building design solutions and design documentation and to analyse construction processes. Recent advances in IT have enabled advanced knowledge management, which in turn facilitates sustainability and improves asset management in the civil construction industry. There are several important qualifiers and some disadvantages of the current suite of technologies. This paper outlines the benefits, enablers, and barriers associated with BIM and makes suggestions about how these issues may be addressed. The paper highlights the advantages of BIM, particularly the increased utility and speed, enhanced fault finding in all construction phases, and enhanced collaborations and visualisation of data. The paper additionally identifies a range of issues concerning the implementation of BIM as follows: IP, liability, risks, and contracts and the authenticity of users. Implementing BIM requires investment in new technology, skills training, and development of new ways of collaboration and Trade Practices concerns. However, when these challenges are overcome, BIM as a new information technology promises a new level of collaborative engineering knowledge management, designed to facilitate sustainability and asset management issues in design, construction, asset management practices, and eventually decommissioning for the civil engineering industry. PMID:24324392

  19. 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.

  20. 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.

  1. BIM: enabling sustainability and asset management through knowledge management.

    Science.gov (United States)

    Kivits, Robbert Anton; Furneaux, Craig

    2013-01-01

    Building Information Modeling (BIM) is the use of virtual building information models to develop building design solutions and design documentation and to analyse construction processes. Recent advances in IT have enabled advanced knowledge management, which in turn facilitates sustainability and improves asset management in the civil construction industry. There are several important qualifiers and some disadvantages of the current suite of technologies. This paper outlines the benefits, enablers, and barriers associated with BIM and makes suggestions about how these issues may be addressed. The paper highlights the advantages of BIM, particularly the increased utility and speed, enhanced fault finding in all construction phases, and enhanced collaborations and visualisation of data. The paper additionally identifies a range of issues concerning the implementation of BIM as follows: IP, liability, risks, and contracts and the authenticity of users. Implementing BIM requires investment in new technology, skills training, and development of new ways of collaboration and Trade Practices concerns. However, when these challenges are overcome, BIM as a new information technology promises a new level of collaborative engineering knowledge management, designed to facilitate sustainability and asset management issues in design, construction, asset management practices, and eventually decommissioning for the civil engineering industry.

  2. Testing Benjamin Graham’s net current asset value model

    Directory of Open Access Journals (Sweden)

    Chongsoo An

    2015-02-01

    Full Text Available The objective of this paper is to empirically test one of Graham’s investment methods based on the net current asset value (NCAV. The NCAV is truly unique, and conservative, and commonly known as the net-net method.  The ratio of the net current asset value to market value (NCAV/MV was employed in this study to test a stock’s performance comparing to the performance of S&P 500 as the market index. We used all stocks in Portfolio123 whose raw data were supplied by Compustat, Standard & Poors, Capital IQ, and Reuters for the period of January 2, 1999 to August 31, 2012. The overall results show that the firms with high net current asset values outperform the market. These results are strong in the up market. It can be argued that the firms with a high NCAV/MV ratio are likely to move toward their fundamental value and generate high excess return because its stock prices are now undervalued. The implications of the study are: (a a positive NCAV/MV ratio may be a good indicator of the underpriced security; (b investing in the growth period and avoiding the downturn period leads investors to earn much higher returns from the firms with a high NCAV/MV ratio; and (c The NCAV/MV strategy requires a longer holding period of the portfolio in order to generate excess returns.

  3. BIM: Enabling Sustainability and Asset Management through Knowledge Management

    Directory of Open Access Journals (Sweden)

    Robbert Anton Kivits

    2013-01-01

    Full Text Available Building Information Modeling (BIM is the use of virtual building information models to develop building design solutions and design documentation and to analyse construction processes. Recent advances in IT have enabled advanced knowledge management, which in turn facilitates sustainability and improves asset management in the civil construction industry. There are several important qualifiers and some disadvantages of the current suite of technologies. This paper outlines the benefits, enablers, and barriers associated with BIM and makes suggestions about how these issues may be addressed. The paper highlights the advantages of BIM, particularly the increased utility and speed, enhanced fault finding in all construction phases, and enhanced collaborations and visualisation of data. The paper additionally identifies a range of issues concerning the implementation of BIM as follows: IP, liability, risks, and contracts and the authenticity of users. Implementing BIM requires investment in new technology, skills training, and development of new ways of collaboration and Trade Practices concerns. However, when these challenges are overcome, BIM as a new information technology promises a new level of collaborative engineering knowledge management, designed to facilitate sustainability and asset management issues in design, construction, asset management practices, and eventually decommissioning for the civil engineering industry.

  4. Confidence sets for asset correlations in portfolio credit risk

    Directory of Open Access Journals (Sweden)

    Carlos Castro

    2012-06-01

    Full Text Available Asset correlations are of critical importance in quantifying portfolio credit risk and economic capitalin financial institutions. Estimation of asset correlation with rating transition data has focusedon the point estimation of the correlation without giving any consideration to the uncertaintyaround these point estimates. In this article we use Bayesian methods to estimate a dynamicfactor model for default risk using rating data (McNeil et al., 2005; McNeil and Wendin, 2007.Bayesian methods allow us to formally incorporate human judgement in the estimation of assetcorrelation, through the prior distribution and fully characterize a confidence set for the correlations.Results indicate: i a two factor model rather than the one factor model, as proposed bythe Basel II framework, better represents the historical default data. ii importance of unobservedfactors in this type of models is reinforced and point out that the levels of the implied asset correlationscritically depend on the latent state variable used to capture the dynamics of default,as well as other assumptions on the statistical model. iii the posterior distributions of the assetcorrelations show that the Basel recommended bounds, for this parameter, undermine the levelof systemic risk.

  5. Organizational information assets classification model and security architecture methodology

    Directory of Open Access Journals (Sweden)

    Mostafa Tamtaji

    2015-12-01

    Full Text Available Today's, Organizations are exposed with huge and diversity of information and information assets that are produced in different systems shuch as KMS, financial and accounting systems, official and industrial automation sysytems and so on and protection of these information is necessary. Cloud computing is a model for enabling ubiquitous, convenient, on-demand network access to a shared pool of configurable computing resources that can be rapidly provisioned and released.several benefits of this model cuses that organization has a great trend to implementing Cloud computing. Maintaining and management of information security is the main challenges in developing and accepting of this model. In this paper, at first, according to "design science research methodology" and compatible with "design process at information systems research", a complete categorization of organizational assets, including 355 different types of information assets in 7 groups and 3 level, is presented to managers be able to plan corresponding security controls according to importance of each groups. Then, for directing of organization to architect it’s information security in cloud computing environment, appropriate methodology is presented. Presented cloud computing security architecture , resulted proposed methodology, and presented classification model according to Delphi method and expers comments discussed and verified.

  6. Assessing environmental assets for health promotion program planning: a practical framework for health promotion practitioners.

    Science.gov (United States)

    Springer, Andrew E; Evans, Alexandra E

    2016-01-01

    Conducting a health needs assessment is an important if not essential first step for health promotion planning. This paper explores how health needs assessments may be further strengthened for health promotion planning via an assessment of environmental assets rooted in the multiple environments (policy, information, social and physical environments) that shape health and behavior. Guided by a behavioral-ecological perspective- one that seeks to identify environmental assets that can influence health behavior, and an implementation science perspective- one that seeks to interweave health promotion strategies into existing environmental assets, we present a basic framework for assessing environmental assets and review examples from the literature to illustrate the incorporation of environmental assets into health program design. Health promotion practitioners and researchers implicitly identify and apply environmental assets in the design and implementation of health promotion interventions;this paper provides foundation for greater intentionality in assessing environmental assets for health promotion planning.

  7. Assessing environmental assets for health promotion program planning: a practical framework for health promotion practitioners.

    Science.gov (United States)

    Springer, Andrew E; Evans, Alexandra E

    2016-01-01

    Conducting a health needs assessment is an important if not essential first step for health promotion planning. This paper explores how health needs assessments may be further strengthened for health promotion planning via an assessment of environmental assets rooted in the multiple environments (policy, information, social and physical environments) that shape health and behavior. Guided by a behavioral-ecological perspective- one that seeks to identify environmental assets that can influence health behavior, and an implementation science perspective- one that seeks to interweave health promotion strategies into existing environmental assets, we present a basic framework for assessing environmental assets and review examples from the literature to illustrate the incorporation of environmental assets into health program design. Health promotion practitioners and researchers implicitly identify and apply environmental assets in the design and implementation of health promotion interventions;this paper provides foundation for greater intentionality in assessing environmental assets for health promotion planning. PMID:27579254

  8. Assessing environmental assets for health promotion program planning: a practical framework for health promotion practitioners

    Science.gov (United States)

    Springer, Andrew E.; Evans, Alexandra E.

    2016-01-01

    Conducting a health needs assessment is an important if not essential first step for health promotion planning. This paper explores how health needs assessments may be further strengthened for health promotion planning via an assessment of environmental assets rooted in the multiple environments (policy, information, social and physical environments) that shape health and behavior. Guided by a behavioral-ecological perspective- one that seeks to identify environmental assets that can influence health behavior, and an implementation science perspective- one that seeks to interweave health promotion strategies into existing environmental assets, we present a basic framework for assessing environmental assets and review examples from the literature to illustrate the incorporation of environmental assets into health program design. Health promotion practitioners and researchers implicitly identify and apply environmental assets in the design and implementation of health promotion interventions;this paper provides foundation for greater intentionality in assessing environmental assets for health promotion planning. PMID:27579254

  9. Population and Asset Distributions in Economically Competitive Activities:a Rate-Equation Approach

    Institute of Scientific and Technical Information of China (English)

    KE Jian-Hong; CAI Xiao-Ou; LIN Zhen-Quan

    2004-01-01

    We introduce a simple asset migration model for the wealth redistribution in economical activities, in which a unit of asset migrates from one individual to another whenever they interact. By means of the mean-field rate equation, we have analysed the dynamic behaviour of the system. In the random migration case, the asset distribution of individuals takes the standard Gaussian form and consistently decreases to zero at the end. As for the system in which only the richer can gain assets from the poorer, it is found that the individual asset distribution is discontinuous at a critical point and only the individuals with asset absolute value less than a cutoff value have a uniform and non-zero distribution. Moreover, the result shows that for the system with migration bias the assets of the individuals may have a cutoff value at each given time, which is different from the system without migration bias.

  10. 7 CFR 4290.885 - Disposition of assets to RBIC's Associates or to competitors of Portfolio Concerns.

    Science.gov (United States)

    2010-01-01

    ... competitors of Portfolio Concerns. 4290.885 Section 4290.885 Agriculture Regulations of the Department of... on Disposition of Assets § 4290.885 Disposition of assets to RBIC's Associates or to competitors of... assets (including assets acquired in liquidation) to any Associate or to competitors of...

  11. Towards the convergence of accounting treatment for intangible assets Towards the convergence of accounting treatment for intangible assets Towards the convergence of accounting treatment for intangible assets

    Directory of Open Access Journals (Sweden)

    Yolanda Ramírez Córcoles

    2010-10-01

    Full Text Available This study aims at analysing the accounting treatment for identifiable intangible assets. Our research is based on the analysis of the Spanish regulation under the current General Accounting Plan of 2007 (from now on referred to as PGC-2007 and the international regulations stated by two important accounting regulation organisms: the International Accounting Standards Board (IASB and the Financial Accounting Standards Board (FASB. In particular, we will carry out a comparative study of the definition, recognition criteria, valuation, amortisation, impairment of value as well as its recovery and information to be provided in the Notes to the Financial Statements. The review of these accounting regulations shows that there is no homogeneous treatment, despite the great advance achieved on this subject, to obtain a higher level of convergence.This study aims at analysing the accounting treatment for identifiable intangible assets. Our research is based on the analysis of the Spanish regulation under the current General Accounting Plan of 2007 (from now on referred to as PGC-2007 and the international regulations stated by two important accounting regulation organisms: the International Accounting Standards Board (IASB and the Financial Accounting Standards Board (FASB. In particular, we will carry out a comparative study of the definition, recognition criteria, valuation, amortisation, impairment of value as well as its recovery and information to be provided in the Notes to the Financial Statements. The review of these accounting regulations shows that there is no homogeneous treatment, despite the great advance achieved on this subject, to obtain a higher level of convergence.This study aims at analysing the accounting treatment for identifiable intangible assets. Our research is based on the analysis of the Spanish regulation under the current General Accounting Plan of 2007 (from now on referred to as PGC-2007 and the international regulations

  12. 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.

  13. 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.

  14. FEATURES OF ACCOUNTING OF REPAIRING FIXED ASSETS IN THE AGRICULTURAL ORGANIZATIONS

    Directory of Open Access Journals (Sweden)

    Azieva Z. I.

    2015-02-01

    Full Text Available The agriculture unlike other branches has features in structure and the accounting of fixed assets: the main kind of fixed assets is the land here, the important place in the course of production is taken by such types of fixed assets as productive and working animals, long-term plantings. Expenses on repair of fixed assets are allowed for ESHN of that tax period in which they were carried out and paid, at a rate of the actual expenses in relation to an order of formation of the specified expenses for rules of accounting. In accounting, since 2011 the formation of the reserve on repair of fixed assets isn't provided. In tax accounting the taxpayer has the right to make formation of a reserve on repair of own fixed assets. Standards of the Tax Code of the Russian Federation regulated application of two algorithms of calculation of the sums forming a reserve on repair of fixed assets. The reserve on repair of fixed assets irrespective of the applied algorithm is created both on own, and on leased objects of fixed assets. The basis for calculation of a reserve is the schedule of carrying out repair work on each object of fixed assets in which are specified the implementation period, a type of repair work and their estimated cost approved by the authorized employee of the agrarian and industrial complex enterprise

  15. 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’.

  16. 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...

  17. 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...

  18. Used nuclear materials at Savannah River Site: asset or waste?

    International Nuclear Information System (INIS)

    The nuclear industry, both in the commercial and the government sectors, has generated large quantities of material that span the spectrum of usefulness, from highly valuable ''assets'' to worthless ''wastes''. In many cases, the decision parameters are clear. Transuranic waste and high level waste, for example, have no value, and is either in a final disposition path today, or - in the case of high level waste - awaiting a policy decision about final disposition. Other materials, though discardable, have intrinsic scientific or market value that may be hidden by the complexity, hazard, or cost of recovery. An informed decision process should acknowledge the asset value, or lack of value, of the complete inventory of materials, and the structure necessary to implement the range of possible options. It is important that informed decisions are made about the asset value for the variety of nuclear materials available. For example, there is a significant quantity of spent fuel available for recycle (an estimated $4 billion value in the Savannah River Site's (SRS) L area alone); in fact, SRS has already blended down more than 300 metric tons of uranium for commercial reactor use. Over 34 metric tons of surplus plutonium is also on a path to be used as commercial fuel. There are other radiological materials that are routinely handled at the site in large quantities that should be viewed as strategically important and / or commercially viable. In some cases, these materials are irreplaceable domestically, and failure to consider their recovery could jeopardize our technological leadership or national defense. The inventories of nuclear materials at SRS that have been characterized as ''waste'' include isotopes of plutonium, uranium, americium, and helium. Although planning has been performed to establish the technical and regulatory bases for their discard and disposal, recovery of these materials is both economically attractive and in the national interest.

  19. The DSN Asset Management/Maintenance Improvement Initiative

    Science.gov (United States)

    Wackley, J.; Dundics, D.

    2011-11-01

    This article describes the Asset Management/Maintenance Improvement (AMMI) initiative: the first focused Deep Space Network (DSN) initiative intended to improve the efficiency and efficacy of maintenance, support improvement in equipment reliability, and provide metrics for use in understanding equipment reliability and the use of maintenance resources. The initiative has resulted in the introduction of many new processes and procedures including the global use of a computerized maintenance management system (CMMS) and Reliability-Centered Maintenance (RCM) concepts. The work performed as part of the AMMI initiative represents significant changes to the DSN maintenance culture that has been in place for over 40 years.

  20. Decontamination of Anthrax spores in critical infrastructure and critical assets.

    Energy Technology Data Exchange (ETDEWEB)

    Boucher, Raymond M.; Crown, Kevin K.; Tucker, Mark David; Hankins, Matthew Granholm

    2010-05-01

    Decontamination of anthrax spores in critical infrastructure (e.g., subway systems, major airports) and critical assets (e.g., the interior of aircraft) can be challenging because effective decontaminants can damage materials. Current decontamination methods require the use of highly toxic and/or highly corrosive chemical solutions because bacterial spores are very difficult to kill. Bacterial spores such as Bacillus anthracis, the infectious agent of anthrax, are one of the most resistant forms of life and are several orders of magnitude more difficult to kill than their associated vegetative cells. Remediation of facilities and other spaces (e.g., subways, airports, and the interior of aircraft) contaminated with anthrax spores currently requires highly toxic and corrosive chemicals such as chlorine dioxide gas, vapor- phase hydrogen peroxide, or high-strength bleach, typically requiring complex deployment methods. We have developed a non-toxic, non-corrosive decontamination method to kill highly resistant bacterial spores in critical infrastructure and critical assets. A chemical solution that triggers the germination process in bacterial spores and causes those spores to rapidly and completely change to much less-resistant vegetative cells that can be easily killed. Vegetative cells are then exposed to mild chemicals (e.g., low concentrations of hydrogen peroxide, quaternary ammonium compounds, alcohols, aldehydes, etc.) or natural elements (e.g., heat, humidity, ultraviolet light, etc.) for complete and rapid kill. Our process employs a novel germination solution consisting of low-cost, non-toxic and non-corrosive chemicals. We are testing both direct surface application and aerosol delivery of the solutions. A key Homeland Security need is to develop the capability to rapidly recover from an attack utilizing biological warfare agents. This project will provide the capability to rapidly and safely decontaminate critical facilities and assets to return them to

  1. International Asset Pricing, Currency Risk and Integration of Markets

    Directory of Open Access Journals (Sweden)

    Sema BAYRAKTAR

    2014-11-01

    Full Text Available This study attempts to test the conditional version of the international asset-pricing model proposed in Bayraktar (2000, 2009 by using a parsimonious multivariate GARCH process. The theoretical model, contrary to previous empirical studies that have used random selection of currency risks, determines which currencies should be included in an empirical test, thus avoids this kind of random selection bias. The results from both full and sub-samples regressions provide some weak evidence for the existence of exchange rate risks, thus partially support the theory. However, exchange rate risks' premia are found considerably smaller than that of market risk.

  2. Multifractal Model of Asset Returns versus real stock market dynamics

    CERN Document Server

    Oswiecimka, P; Drozdz, S; Górski, A Z; Rak, R

    2006-01-01

    There is more and more empirical evidence that multifractality constitutes another and perhaps the most significant financial stylized fact. A realistic model of the financial dynamics should therefore incorporate this effect. The most promising in this respect is the Multifractal Model of Asset Returns (MMAR) introduced by Mandelbrot in which multifractality is carried by time deformation. In our study we focus on the Lux extension to MMAR and empirical data from Warsaw Stock Exchange. We show that this model is able to reproduce relevant aspects of the real stock market dynamics.

  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. REVERSIBLE IMPAIRMENT OF ASSETS AND THE IMPACT ON ECONOMIC PERFORMANCE

    Directory of Open Access Journals (Sweden)

    MIRON VASILE-CRISTIAN-IOACHIM

    2015-03-01

    Full Text Available Economic performance is an essential objective of economic entities activating in the energy sector. The profit and loss account provides relevant information for performance analyzes, but evaluating the factors which determined the modification of the financial result demands detailed analyzes based on specific techniques. This paper develops and implements an econometric model that analyses the relation between gross profit and the reversible impairment of assets. The results of the analysis have shown that, in the energy sector, there is a significant connection between those two variables.

  5. Determinants of Non-Performing Assets in India - Panel Regression

    Directory of Open Access Journals (Sweden)

    Saikat Ghosh Roy

    2014-12-01

    Full Text Available It is well known that level of banks‟ credit plays an important role in economic developments. Indian banking sector has played a seminal role in supporting economic growth in India. Recently, Indian banks are experiencing consistent increase in non-performing assets (NPA. In this perspective, this paper investigates the trends in NPA in Indian banks and its determinants. The panel regressions, fixed effect allows evaluating the impact of selected macroeconomic variables on the NPA. The Panel regression result indicates that the GDP growth, change in exchange rate and global volatility have major effects on the NPA level of Indian banking sector.

  6. CNPC Hopeful to Have Piece of YUKOS Assets

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

    @@ China's top oil and gas producer, CNPC, is likely to acquire a one-fifth stake of Yuganskneftegaz, a millionbarral-a-day oilunit of Yukos, according to Russian Energy Minister Viktor Khristenko. "The assets of Yuganskneftegaz will be spun off and transferred to a separate company, 100percent owned by the state," Khristenko said in a statement issued by his ministry. "Up to 20 percent of the shares in this company may be acquired by the Chinese National Petroleum Corporation. Such an option was mentioned in documents signed earlier with CNPC."

  7. Hybrid animation integrating 2D and 3D assets

    CERN Document Server

    O'Hailey, Tina

    2010-01-01

    Artist imaginations continue to grow and stretch the boundaries of traditional animation. Successful animators adept and highly skilled in traditional animation mediums are branching out beyond traditional animation workflows and will often use multiple forms of animation in a single project. With the knowledge of 3D and 2D assets and the integration of multiple animation mediums into a single project, animators have a wealth of creative resources available for a project that is not limited to a specific animation medium, software package or workflow processs. Enhance a poignant scene by choos

  8. 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.

  9. Efficient "Myopic" Asset Pricing in General Equilibrium: A Potential Pitfall in Excess Volatility Tests

    OpenAIRE

    Willem H. Buiter

    1987-01-01

    Excess volatility tests for financial market efficiency maintain the hypothesis of risk-neutrality. This permits the specification of the benchmark efficient market price as the present discounted value of expected future dividends. By departing from the risk-neutrality assumption in a stripped-down version of Lucas's general equilibrium asset pricing model, I show that asset prices determined in a competitive asset market and efficient by construction can nevertheless violate the variance bo...

  10. 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...

  11. 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...

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

    OpenAIRE

    Pallabi Mishra and Biplab Datta

    2011-01-01

    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 re...

  13. Tanggung Jawab Direksi Dalam Pelepasan Asset Tidak Bergerak Pada Badan Usaha Milik Negara (BUMN)

    OpenAIRE

    Nababan, Bornok Maria Irene

    2012-01-01

    Board of Directors in conducting the release of assets do not move in the form of land transfers ex HGU, where directors must be approved by the Minister of BUMNs as a shareholder, and so are the immovable asset disposal proceeds should go into state coffers, because the ex HGU land belonged to the state asset disposal proceeds should not move into the treasury. The research uses descriptive analytical research, which describes / presents at once analyzed the responsibilities of directors ...

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

    OpenAIRE

    Daniel Quacoe; Francis Appiah-Kubi Banson; Jonathan Sakoe

    2015-01-01

    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 ...

  15. 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...

  16. Effects of diversification among assets in an agent-based market model

    CERN Document Server

    Ghoulmié, F; Mellen, C P; Di Matteo, T

    2007-01-01

    We extend to the multi-asset case the framework of a discrete time model of a single asset financial market developed in Ghoulmie et al (2005). In particular, we focus on adaptive agents with threshold behavior allocating their resources among two assets. We explore numerically the effect of this diversification as an additional source of complexity in the financial market and we discuss its destabilizing role. We also point out the relevance of these studies for financial decision making.

  17. The issue of depreciation of fixed assets in the Czech Republic

    OpenAIRE

    Michlová, Hana

    2012-01-01

    Depreciation reflects the permanent wear of both tangible and intangible assets. Tangible fixed assets are included in depreciation groups, which subsequently determine the level of depreciation and their amortization length. Summary of depreciation already implemented in the accounting period is called accumulated depreciation. Fixed assets can be depreciated up to the full amount of their appreciation. In the Czech Republic, we distinguish two types of depreciation, accounting and tax depre...

  18. Transmission assets investment timing using net present value curves

    International Nuclear Information System (INIS)

    Improvement and expansion of the transmission grid is still an unresolved issue in the new competitive environment. In current electricity markets, transmission lines have become assets that need financial instruments for investors who wish to ensure steady long-term returns and to withstand short-term market volatility. The timing and the combination of new transmission investments is key to analyze their long-term effects. This paper presents the concept of net present value (NPV) curve to estimate the best investment time for the investor, where the curve is constructed by calculating the NPVs resulting from the investment in successive years. A specific contract model based on financial transmission rights (FTR) is used for the NPV evaluation of transmission assets, and the stochastic properties of all variables related to the investment market structure are considered. The model is applied to the IEEE 24-bus Reliability Test System (RTS) showing the approach capabilities as a decision-aid tool for transmission investors. (author)

  19. 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.

  20. The Asset and Maintenance Management System (AMMS Project

    Directory of Open Access Journals (Sweden)

    Rosina Surovi Khan

    2010-07-01

    Full Text Available With the advent of ever evolving technology, it becomes necessary to manage IT information efficiently, and managing it the right way cuts down maintenance costs. A variety of IT-maintenance software products exist in the market which can be used to manage IT equipment efficiently. But often these IT-maintenance software products do not always fulfill all the IT requirements of an organization. For example, most of the IT-maintenance software products available in the market manage hardware and software assets quite well but fail to capture non-pc data such as telephone system and office material and also lack the ability to support heterogeneous networking in MAC environment. In such cases, developing a good interface to a database where IT information are stored often helps to provide good overviews, good updates and low maintenance costs. This paper is just about such a system that the author worked on. The system is called the Asset and Maintenance Management System (AMMS.

  1. Selected Views on Fixed Assets in the Czech Economy

    Directory of Open Access Journals (Sweden)

    Drahomíra Dubská

    2011-03-01

    Full Text Available Gross fixed capital formation (investment in the Czech economy has been remaining the significant component of gross domestic product (GDP from expenditure side during last roughly decade – in spite of the modest decrease in its share in GDP in nominal terms (from less than one third in 1995 to just about one quarter in 2008. In real terms its share in the GDP shows more likely stagnation (from 29% in 1995 to 28% in 2008. But correlation between GDP and investment in the Czech Republic is weaker compared to EU27. The increases of the various types of fixed assets in the Czech economy in constant prices of the year 2000 show clearly more dynamic growth in machinery and equipment in comparison with the dwellings and other buildings and structures. NACE K Real estate, renting and business activities participated most in the total state quantity of the gross capital formation. Although the state of the gross fixed capital formation was growing on average by about 2%, y-o-y, the investment in dwellings in constant prices of the year 2000 only stagnated. Thearticle describes the reasons for that. The tangible assets in the households sector are mentioned, as well. The last part analyses current problems of investment in the Czech economy during economic crisis of 2009. Nevertheless, the fall of gross fixed capital formation in that year should not influence negatively the convergence of the Czech economy towards EU27 level.

  2. SPLINE LINEAR REGRESSION USED FOR EVALUATING FINANCIAL ASSETS 1

    Directory of Open Access Journals (Sweden)

    Liviu GEAMBAŞU

    2010-12-01

    Full Text Available One of the most important preoccupations of financial markets participants was and still is the problem of determining more precise the trend of financial assets prices. For solving this problem there were written many scientific papers and were developed many mathematical and statistical models in order to better determine the financial assets price trend. If until recently the simple linear models were largely used due to their facile utilization, the financial crises that affected the world economy starting with 2008 highlight the necessity of adapting the mathematical models to variation of economy. A simple to use model but adapted to economic life realities is the spline linear regression. This type of regression keeps the continuity of regression function, but split the studied data in intervals with homogenous characteristics. The characteristics of each interval are highlighted and also the evolution of market over all the intervals, resulting reduced standard errors. The first objective of the article is the theoretical presentation of the spline linear regression, also referring to scientific national and international papers related to this subject. The second objective is applying the theoretical model to data from the Bucharest Stock Exchange

  3. 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.

  4. KNOWLEDGE ASSETS IN SERVICES ACROSS INDUSTRIES AND ACROSS TIME

    Directory of Open Access Journals (Sweden)

    Erickson, G. Scott

    2015-05-01

    Full Text Available This paper explores the question of whether knowledge assets are more developed in services industries than in non-services. The concept of the “knowledge economy” has always gone hand-in-hand with growth in the percentage of the economy represented by services. Two multi-year, multi-industry datasets are used to directly compare the knowledge asset levels in service industry firms against those in non-service industry firms. Service industries do, indeed, reflect higher levels of intellectual capital in recent years, but did not do so a decade ago. Further, there is considerable evidence of changes in specific service and non-service industries over the time period, adding details to the finding that knowledge development is not static but does vary over time and circumstance. These results open up a number of promising research directions that could lead to a better understanding of the nature of these differing circumstances and how better strategic choices might be made regarding investments in knowledge management.

  5. MOTIVES FOR ASSET REVALUATION POLICY CHOICE IN CROATIA

    Directory of Open Access Journals (Sweden)

    Željana Aljinović Barać

    2011-02-01

    Full Text Available The aim of this paper is to research managers’ motives of accounting policy choice for long-term nonfinancial assets. International Financial Reporting Standards (IFRS allow managers to choose between cost and revaluation model for measurement after recognition. The assumption is that manager’s decision is opportunistic so they use the revaluation model as a device to improve perceptive borrowing capacity of a company, and consequently, to reduce debt cost. Prior studies were mainly conducted in developed, marketoriented economies, unlike Croatia. The contribution of this paper is the research of motives and determinants of asset revaluation policy choice in bank-oriented economies with inactive markets. Furthermore, multivariate logistic regression was not used as a research method in this field of accounting in transition and emerging economies till now. Empirical evidence is provided through the sample of Croatian listed companies and the results show that large, profitable companies with low liquidity ratio, low cash flow ratio and increasing debt are more likely to perform upward revaluation.

  6. Loss Aversion, Adaptive Beliefs, and Asset Pricing Dynamics

    Directory of Open Access Journals (Sweden)

    Kamal Samy Selim

    2015-01-01

    Full Text Available We study asset pricing dynamics in artificial financial markets model. The financial market is populated with agents following two heterogeneous trading beliefs, the technical and the fundamental prediction rules. Agents switch between trading rules with respect to their past performance. The agents are loss averse over asset price fluctuations. Loss aversion behaviour depends on the past performance of the trading strategies in terms of an evolutionary fitness measure. We propose a novel application of the prospect theory to agent-based modelling, and by simulation, the effect of evolutionary fitness measure on adaptive belief system is investigated. For comparison, we study pricing dynamics of a financial market populated with chartists perceive losses and gains symmetrically. One of our contributions is validating the agent-based models using real financial data of the Egyptian Stock Exchange. We find that our framework can explain important stylized facts in financial time series, such as random walk price behaviour, bubbles and crashes, fat-tailed return distributions, power-law tails in the distribution of returns, excess volatility, volatility clustering, the absence of autocorrelation in raw returns, and the power-law autocorrelations in absolute returns. In addition to this, we find that loss aversion improves market quality and market stability.

  7. 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...

  8. 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.

  9. ASSETS ADMITTED TO COVER GROSS TECHNICAL RESERVES CASE STUDY: INSURANCE – REINSURANCE COMPANY ASTRA SA

    Directory of Open Access Journals (Sweden)

    IRINELA – CONSTANTINA BADEA

    2015-12-01

    Full Text Available The aim of this paper is to analyze the asset structure and the coverage of gross technical reserves of the Insurance – Reinsurance Company Astra SA, for the period 2003 – 2014. Insurance companies are required to constitute technical reserves, in order to cope with the payment obligations to policyholders. These reserves may only be covered on account of certain assets, admitted by law. In Romania, Orders No. 8 and 9/2011, issued by the Insurance Supervisory Commission, contain Rules regarding the assets admitted to cover gross technical reserves, the dispersion of assets admitted to cover gross technical reserves and the liquidity coefficient. Order No. 9/2011, relating to general insurance, has been amended by Rule No. 22/2014. In this paper, we have analyzed the main elements of Astra’s assets, their share in total assets and we have calculated the coverage of gross technical reserves by total assets and liquid assets. In 2013 and 2014, the value of total assets was below the value of gross tehnical reserves, which demonstrated Astra’s financial instability, through negative capital and the inability to meet the obligations to policyholders. Failure to comply with the prudential indicators has been one of the main causes of Astra`s bankruptcy.

  10. Assets Structure, Asset Efficiency and Enterprise Value%资产结构、资产效率与企业价值

    Institute of Scientific and Technical Information of China (English)

    张俊瑞; 张健光; 高杰; 李金霖

    2012-01-01

    在委托代理模型和生产函数的基础上,利用股东最大化剩余推导了生产效率参数的求解方法。以此为基础,主要研究了资产结构与资产效率、资产效率与企业价值之间的关系。利用1999—2006年期间存在管理层持股745个企业年数据,发现在资产结构与资产效率、资产效率与企业价值之间存在“倒U型”规律,但管理层持股比例与企业价值存在正U型关系。因此可以得出资产结构能够影响生产效率和企业价值的结论。%On the basis of principal-agent model and production function, we derivate solution method of productivity parameters by Shareholders maximum expected total surplus. Using the productivity parameters of total assets and managerial ownership, we research the relationship between asset structure and asset efficiency, asset efficiency and enterprise value. In our sample of 745 firm-year data in 1999-2006, we find that the "inverted-U" rule exists in between asset structure and asset efficiency, and between asset efficiency and enterprise value. However, the relationship between Tobin's Q and managerial ownership is in the "U" shape. Therefore, we conclude that asset structure can affect productivity and enterprise value.

  11. Economies of scale and asset values in power production

    International Nuclear Information System (INIS)

    While innovative trading tools have become an increasingly important aspect of the electricity business, the future of any firm in the industry boils down to a basic bread and butter issue of generating power at competitive costs. While buying electricity from power pools at spot prices instead of generating power to service load may be profitable for some firms in the short run, the need to efficiently utilize existing plants in the long run remains. These competitive forces will force the closure of many inefficient plants. As firms close plants and re-evaluate their generating asset portfolios, the basic structure of the industry will change. This article presents some quantitative analysis that sheds light on this unfolding transformation

  12. Short-Run Asset Selection using a Logistic Model

    Directory of Open Access Journals (Sweden)

    Walter Gonçalves Junior

    2011-06-01

    Full Text Available Investors constantly look for significant predictors and accurate models to forecast future results, whose occasional efficacy end up being neutralized by market efficiency. Regardless, such predictors are widely used for seeking better (and more unique perceptions. This paper aims to investigate to what extent some of the most notorious indicators have discriminatory power to select stocks, and if it is feasible with such variables to build models that could anticipate those with good performance. In order to do that, logistical regressions were conducted with stocks traded at Bovespa using the selected indicators as explanatory variables. Investigated in this study were the outputs of Bovespa Index, liquidity, the Sharpe Ratio, ROE, MB, size and age evidenced to be significant predictors. Also examined were half-year, logistical models, which were adjusted in order to check the potential acceptable discriminatory power for the asset selection.

  13. Competition and environment: two assets for natural gas

    International Nuclear Information System (INIS)

    This article summarizes the talks given during the round table of September 13 which makes the link between the competition aspects and the environmental aspects of the gas market. During the first part of the round table, clients and suppliers have examined the implementation of the gas directive, the reality of competition situations, the selection criteria of clients and the factors of improvement of market fluidity. In a second part, after a scientific presentation of the causes of the greenhouse effect, representatives of gas companies and environment experts have discussed the real and concrete relations between the environment protection, the abatement of greenhouse gas emissions and the assets of natural gas in these domains. (J.S.)

  14. Safety culture evaluation and asset root cause analysis

    International Nuclear Information System (INIS)

    This paper examines the role of organizational and management factors in nuclear power plant safety through the use of operating experiences. The ASSET (Assessment of Safety Significant Events Team) reports of thirteen plants (total thirty events) have been analyzed in term of twenty organizational dimensions (factors) identified by Brookhaven National Laboratory and Pennsylvania State University. For three plants detailed results are reported in this paper. The results of thirteen plants are summarized in the form of a table. The study tends to confirm that organizational and management factors play an important role in plant safety. The twenty organizational dimensions and their definitions, in general, were adequate in this study. Formalization, Safety Culture, Technical Knowledge, Training, Roles-Responsibilities and Problem Identification appear to be key organizational factors which influence the safety of nuclear power plants studied

  15. Economies of scale and asset values in power production

    Energy Technology Data Exchange (ETDEWEB)

    Considine, T.J.

    1999-12-01

    While innovative trading tools have become an increasingly important aspect of the electricity business, the future of any firm in the industry boils down to a basic bread and butter issue of generating power at competitive costs. While buying electricity from power pools at spot prices instead of generating power to service load may be profitable for some firms in the short run, the need to efficiently utilize existing plants in the long run remains. These competitive forces will force the closure of many inefficient plants. As firms close plants and re-evaluate their generating asset portfolios, the basic structure of the industry will change. This article presents some quantitative analysis that sheds light on this unfolding transformation.

  16. CNOOC Acquires Oilfield Assets in Indonesia from Repsol-YPF

    Institute of Scientific and Technical Information of China (English)

    Wang Yiwen

    2002-01-01

    @@ CNOOC Limited has recently agreed with the Repsol-YPF group on acquisition of the interests in five oil fields in Indonesia at the cost of US$585million. The assets to be acquired include an aggregate 65.34 percent interest in the Southeast Sumatra PSC, an aggregate 36.72 percent interest in the Offshore Northwest Java PSC, a 25 percent interest in the West Madura PSC, a 50 percent interest in the Poleng TAC and a 16.7 percent interest in the Blora PSC. This acquisition, which helps the Chinese oil company get access to 360 million barrels of proven reserves in total, has made CNOOC Limited the largest offshore oil producer in Indonesia.

  17. Safety culture evaluation and asset root cause analysis

    International Nuclear Information System (INIS)

    This paper examines the role of organizational and management factors in nuclear power plant safety through the use of operating experiences. The ASSET reports of thirteen plants (total thirty events) have been analyzed in term of twenty organizational dimensions (factors) identified by Brookhaven National Laboratory and Pennsylvania State University. For three plants detailed results are reported in this paper. The results of thirteen plants are summarized in the form of a table. The study tends to confirm that organizational and management factors play an important role in plant safety. The twenty organizational dimensions and their definitions, in general, were adequate in this study. Formalization, safety culture, technical knowledge, training, roles-responsibilities and problem identification appear to be key organizational factors which influence the safety of nuclear power plants studied. (author)

  18. Imperfect Knowledge, Asset Price Swings, and Structural Slumps

    DEFF Research Database (Denmark)

    Juselius, Katarina

    2013-01-01

    emphasizes real interest rates and real exchange rates as potentially important determinants underlying the persistent fluctuations in aggregate activities, and the latter provides the conditions under which speculative behavior in currency markets generates such persistence. The paper argues that by combing......This paper discusses interactions between speculative behavior in the currency markets and aggregate fluctuations in the real economy. It builds on the Structural Slumps theory in Phelps (1994) and the recent theory of Imperfect Knowledge Economics in Frydman and Goldberg (2007). The former...... the two theories we can shed new light on the two-way interdependence between persistent swings in asset markets and persistent fluctuations in the real economy. In particular, we may improve our understanding of the mechanisms behind the long recurrent spells of high unemployment that continue to mar our...

  19. Correlations and risk contagion between mixed assets and mixed-asset portfolio VaR measurements in a dynamic view: An application based on time varying copula models

    Science.gov (United States)

    Han, Yingying; Gong, Pu; Zhou, Xiang

    2016-02-01

    In this paper, we apply time varying Gaussian and SJC copula models to study the correlations and risk contagion between mixed assets: financial (stock), real estate and commodity (gold) assets in China firstly. Then we study the dynamic mixed-asset portfolio risk through VaR measurement based on the correlations computed by the time varying copulas. This dynamic VaR-copula measurement analysis has never been used on mixed-asset portfolios. The results show the time varying estimations fit much better than the static models, not only for the correlations and risk contagion based on time varying copulas, but also for the VaR-copula measurement. The time varying VaR-SJC copula models are more accurate than VaR-Gaussian copula models when measuring more risky portfolios with higher confidence levels. The major findings suggest that real estate and gold play a role on portfolio risk diversification and there exist risk contagion and flight to quality between mixed-assets when extreme cases happen, but if we take different mixed-asset portfolio strategies with the varying of time and environment, the portfolio risk will be reduced.

  20. Effective access to digital assets: An XML-based EAD search system

    NARCIS (Netherlands)

    J. Zhang; K.N. Fachry; J. Kamps

    2009-01-01

    This paper focuses on the question of effective access methods, by developing novel search tools that will be crucial on the massive scale of digital asset repositories. We illustrate concretely why XML matters in digital curation by describing an implementation of a baseline digital asset search sy

  1. Long-Term Association Between Developmental Assets and Health Behaviors: An Exploratory Study.

    Science.gov (United States)

    Bleck, Jennifer; DeBate, Rita

    2016-10-01

    Introduction Based on internal and external assets, the positive youth development approach aims to increase the capacity among adolescents to overcome challenges as they transition to adulthood. Developmental assets have been found to be positively associated with academic achievement, a variety of health promoting behaviors, and improved physical and mental health. The purpose of this exploratory study was to assess the long-term association between positive youth developmental assets with health risk and promoting behaviors. Method A continuous scale of developmental assets was created using 30 items from Wave I of the National Longitudinal Study of Adolescent to Adult Health, when participants were in 7th to 12th grades. Health behavior outcomes including cigarette use, substance use, fast food consumption, and physical activity were measured at both Wave III (age 18-26) and Wave IV (age 24-32). Path analysis was employed to assess the relationship between these observed measures. Results The well-fitted path model revealed associations between developmental assets with each health behavior at Wave III. Developmental assets indirectly influenced each health behavior and direct associations were observed between assets with substance use and physical activity at Wave IV. Conclusion Findings provide additional support for the developmental assets approach to adolescent health. Implications include Healthy People 2020 objectives related to tobacco and alcohol use and nutrition and physical activity. PMID:26462541

  2. 13 CFR 108.506 - Safeguarding the NMVC Company's assets/Internal controls.

    Science.gov (United States)

    2010-01-01

    ... assets/Internal controls. 108.506 Section 108.506 Business Credit and Assistance SMALL BUSINESS... Requirements § 108.506 Safeguarding the NMVC Company's assets/Internal controls. You must adopt a plan to... document describing your control procedures....

  3. The Impact of Asset Repurchases and Issues in an Experimental Market

    NARCIS (Netherlands)

    Haruvy, E.; Noussair, C.N.; Powell, O.R.

    2012-01-01

    Abstract: We create an experimental asset market in which we conduct share repurchases and share issues. Although the intrinsic value of the shares is independent of the quantity outstanding, the interventions result in changes in asset price. Specifically, we find the following. (1) A repurchase of

  4. Predicting the volume of investments into capital assets in the industry of Kyrgyz Republic

    Directory of Open Access Journals (Sweden)

    Tatyana Vladimirovna Palagina

    2015-03-01

    Full Text Available Objective to define the demand and predict the required volume of investments into capital assets of industrial sector of economy in Kyrgyz Republic. Results the article analyzes the dynamics of renewing the capital assets in the industrial sector of economy in Kyrgyzstan in the recent decade. Basing on the analysis of dynamics and actual condition of capital assets the author predicts the volume of investments into the capital assets taking into account the hypothesis on preserving the existing trends of renewing the capital assets.nbsp The influence is revealed of the level of deterioration of capital assets on the amount of investments expressed as the ratio of investment volume to the production volume. It is defined that reaching the predicted volumes of investment will keep the deterioration level at not more than 43. Scientific novelty for the first time the article predicts the investment volume basing on the balance model and extrapolation of mean values of renewal and retirement of capital assets in the recent decade 20032012 reveals the dependence of the deterioration level and capital assets investment norm. Practical value the main conclusions of the article can be used in scientific and educational activity in practical calculations and planning capital investments. nbsp

  5. 17 CFR 230.145 - Reclassification of securities, mergers, consolidations and acquisitions of assets.

    Science.gov (United States)

    2010-04-01

    ..., mergers, consolidations and acquisitions of assets. 230.145 Section 230.145 Commodity and Securities... § 230.145 Reclassification of securities, mergers, consolidations and acquisitions of assets.... A statutory merger or consolidation or similar plan or acquisition in which securities of...

  6. Weak convergence of tree methods, to price options on defaultable assets

    NARCIS (Netherlands)

    Nieuwenhuis, J.W.; Vellekoop, M.H.

    2004-01-01

    We discuss a practical method to price and hedge European contingent claims on assets with price processes which follow a jump-diffusion. The method consists of a sequence of trinomial models for the asset price and option price processes which are shown to converge weakly to the corresponding conti

  7. Influence of socio-cultural modernization on development of human capital assets in Russia

    Directory of Open Access Journals (Sweden)

    2014-01-01

    Full Text Available The paper presents major points of research into socio-cultural conditions of human capital assets accumulation in Russia. Notion of social justice, social responsibility of business, realization of their role as “vehicle of capital” by employees, national mentality – all this essentially influences on efficiency of human capital assets accumulation in Russia.

  8. 25 CFR 115.106 - Assets of members of the Agua Caliente Band of Mission Indians.

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Assets of members of the Agua Caliente Band of Mission Indians. 115.106 Section 115.106 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR FINANCIAL ACTIVITIES TRUST FUNDS FOR TRIBES AND INDIVIDUAL INDIANS IIM Accounts § 115.106 Assets of members of the...

  9. Examining the relation between intangible assets and technical efficiency in the international textile and clothing industry

    NARCIS (Netherlands)

    Kapelko, M.; Oude Lansink, A.G.J.M.

    2014-01-01

    The resource-based view of the firm suggests that intangible assets have a positive impact on firm performance. This study examined the relation between intangible assets and technical efficiency of textile and clothing firms. A double bootstrap data envelopment analysis approach was used to measure

  10. 78 FR 79286 - Truth in Lending (Regulation Z): Adjustment to Asset-Size Exemption Threshold

    Science.gov (United States)

    2013-12-30

    ... establish. In the 2013 Escrows Final Rule, 78 FR 4726 (January 22, 2013), the Bureau established such an... PROTECTION 12 CFR Part 1026 Truth in Lending (Regulation Z): Adjustment to Asset-Size Exemption Threshold... (Truth in Lending) to reflect a change in the asset size threshold for certain creditors to qualify...

  11. Use of Contemporary Information Technologies in Accounting of Long-Term Assets in Ukraine

    OpenAIRE

    Ivan A. Derun

    2012-01-01

    The article deals with approaches for automatization of accounting of long-term assets in Ukraine. A due attention is paid to the use of ERP (on the SAP R/3 Model) and EAM-systems for accounting of long-term assets.

  12. Use of Contemporary Information Technologies in Accounting of Long-Term Assets in Ukraine

    Directory of Open Access Journals (Sweden)

    Ivan A. Derun

    2012-12-01

    Full Text Available The article deals with approaches for automatization of accounting of long-term assets in Ukraine. A due attention is paid to the use of ERP (on the SAP R/3 Model and EAM-systems for accounting of long-term assets.

  13. 75 FR 45114 - Determination of Insufficient Assets To Satisfy Claims Against Financial Institution in Receivership

    Science.gov (United States)

    2010-08-02

    ... determined that insufficient assets exist in the receivership of PFF Bank & Trust, Pomona, California, to.... Written correspondence may also be mailed to FDIC as Receiver of PFF Bank & Trust, Attention: Claims Agent... creditors or any lower priority claims. The FDIC has determined that the assets of PFF Bank & Trust...

  14. 48 CFR 31.205-52 - Asset valuations resulting from business combinations.

    Science.gov (United States)

    2010-10-01

    ... capital assets, when the purchase method of accounting for a business combination is used, whether or not... based on the capitalized asset values measured and assigned in accordance with 48 CFR 9904.404-50(d), if... method of accounting for a business combination is used, allowable amortization and cost of money...

  15. 12 CFR 563.22 - Merger, consolidation, purchase or sale of assets, or assumption of liabilities.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Merger, consolidation, purchase or sale of assets, or assumption of liabilities. 563.22 Section 563.22 Banks and Banking OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY SAVINGS ASSOCIATIONS-OPERATIONS Operation and Structure § 563.22 Merger, consolidation, purchase or sale of assets,...

  16. Regime-Based Versus Static Asset Allocation: Letting the Data Speak

    DEFF Research Database (Denmark)

    Nystrup, Peter; Hansen, Bo William; Madsen, Henrik;

    2015-01-01

    Regime shifts present a big challenge to traditional strategic asset allocation. This article investigates whether regimebased asset allocation can effectively respond to changes in financial regimes at the portfolio level, in an effort to provide better long-term results than more static...

  17. The Long Arm of Justice: The Potential for Seizing the Assets of Child Support Obligors.

    Science.gov (United States)

    Pirog-Good, Maureen A.; Amerson, Lydia

    1997-01-01

    Discusses the effects of the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 on states' efforts to seize assets held by noncustodial parents for payment of overdue child support. Results show that fathers who do not live with their children have assets that can be prioritized for collection. (MKA)

  18. Asset management in the grid - catchword or lever?; Assetmanagement im Netz - Schlagwort oder Hebel?

    Energy Technology Data Exchange (ETDEWEB)

    Jendernalik, Lars; Wohlfarth, Herbert [RWE Westfalen-Weser-Ems Verteilnetz GmbH, Recklinghausen (Germany)

    2009-09-15

    Asset management today is a regular part of network operators' business activities. It is striking however to see the diversity of concepts, organisational forms and types of process with which the term is associated. The present article describes the range of activities currently subsumed under asset management and examines relevant means of influencing the network business.

  19. FINANCIAL LEASING AS AN INVESTMENT INSTRUMENT OF FIXED ASSETS RENOVATION OF DOMESTIC ENTERPRISES

    Directory of Open Access Journals (Sweden)

    O. Miroshnychenko

    2014-04-01

    Full Text Available The main characteristics of the financial leasing using as an investment instrument for fixed assets renovation of domestic enterprises have been considered. The advantages of financial leasing and the need to use in order to update the fixed assets, especially in the lack of financial resources for the purchasing of new machinery and equipment, have been determined.

  20. 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.

  1. 17 CFR 229.1009 - (Item 1009) Persons/assets, retained, employed, compensated or used.

    Science.gov (United States)

    2010-04-01

    ..., SECURITIES EXCHANGE ACT OF 1934 AND ENERGY POLICY AND CONSERVATION ACT OF 1975-REGULATION S-K Mergers and Acquisitions (Regulation M-A) § 229.1009 (Item 1009) Persons/assets, retained, employed, compensated or used... corporate assets of the subject company that has been or will be employed or used by the filing person...

  2. 77 FR 22616 - Huntington Asset Advisors, Inc., et al.; Notice of Application

    Science.gov (United States)

    2012-04-16

    ... COMMISSION Huntington Asset Advisors, Inc., et al.; Notice of Application April 10, 2012. AGENCY: Securities... exemption from sections 12(d)(1)(A) and (B) of the Act. Applicants: Huntington Asset Advisors, Inc. (``Adviser''), Huntington Strategy Shares (``Trust''), and SEI Investments Distribution Co. Summary...

  3. 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

    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...

  4. 29 CFR 4204.13 - Net income and net tangible assets tests.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Net income and net tangible assets tests. 4204.13 Section....13 Net income and net tangible assets tests. (a) General. The criteria under this section are that either— (1) Net income test. The purchaser's average net income after taxes for its three most...

  5. 26 CFR 12.4 - Election of Class Life Asset Depreciation Range System (ADR).

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Election of Class Life Asset Depreciation Range... Election of Class Life Asset Depreciation Range System (ADR). (a) Elections filed before February 1, 1972... tax return in accordance with § 1.167(a)-11 of this chapter (relating to depreciation allowances...

  6. 48 CFR 9904.409 - Cost accounting standard-depreciation of tangible capital assets.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Cost accounting standard-depreciation of tangible capital assets. 9904.409 Section 9904.409 Federal Acquisition Regulations System COST...—depreciation of tangible capital assets....

  7. 42 CFR 413.144 - Depreciation: Allowance for depreciation on fully depreciated or partially depreciated assets.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 2 2010-10-01 2010-10-01 false Depreciation: Allowance for depreciation on fully... SKILLED NURSING FACILITIES Capital-Related Costs § 413.144 Depreciation: Allowance for depreciation on fully depreciated or partially depreciated assets. (a) Principle. Depreciation on assets being used by...

  8. DEPRECIATION AND AMORTIZATION OF FIXED ASSETS IN FISCAL INSTITUTIONS AND COMMERCIAL ENTERPRISES

    Directory of Open Access Journals (Sweden)

    Yu. T. Trush

    2009-11-01

    Full Text Available The comparison of methods of extra charge of wear of the fixed assets in budgetary establishments and their amortization in business enterprises is conducted. The procedure of choice of amortization method for an object of the fixed assets in business enterprises is grounded.

  9. 78 FR 9042 - Request for Information (RFI) for Commercial Building Energy Asset Score

    Science.gov (United States)

    2013-02-07

    ... description of building assets. The primary modeling output of the energy asset scoring tool is the energy use... provided for building components, including envelope (roof, wall, window), lighting, heating, cooling, and... will not affect the durability of the score. DOE will incorporate new software releases of...

  10. 76 FR 55308 - Treatment of Asset-Backed Issuers Under the Investment Company Act

    Science.gov (United States)

    2011-09-07

    ... with a conditional exclusion from the definition of investment company. Amendments to Rule 3a-7 that.... Introduction and Executive Summary Asset-backed issuers \\1\\ typically meet the definition of investment company... specifically to exclude from the definition of investment company certain asset-backed issuers that meet...

  11. Asset-Based Assessment in Educational Psychology: Capturing Perceptions during a Paradigm Shift

    Science.gov (United States)

    Lubbe, Carien; Eloff, Irma

    2004-01-01

    Several trends are compelling educational psychologists towards a philosophy of assessment that is asset-based and strength focused. This article shares the results from a study that explored perceptions about asset-based assessment in Educational Psychology in South Africa. Three focus groups were held and four main themes emerged from the…

  12. 75 FR 66295 - Fixed Assets, Member Business Loans, and Regulatory Flexibility Program

    Science.gov (United States)

    2010-10-28

    ... credit unions. Those provisions pertain to fixed assets, member business loans (MBL), stress testing of... Parts 701, 723, and 742 RIN 3133-AD68 Fixed Assets, Member Business Loans, and Regulatory Flexibility.... 66 FR 58656 (November 23, 2001). Since then, NCUA has amended RegFlex a number of times to...

  13. 75 FR 14372 - Fixed Assets, Member Business Loans, and Regulatory Flexibility Program

    Science.gov (United States)

    2010-03-25

    ... assets, member business loans (MBL), stress testing of investments, and discretionary control of... ADMINISTRATION 12 CFR Parts 701, 723 and 742 RIN 3133-AD68 Fixed Assets, Member Business Loans, and Regulatory.... 66 FR 58656 (November 23, 2001). Since then, NCUA has amended RegFlex a number of times to...

  14. 26 CFR 1.168(i)-0 - Table of contents for the general asset account rules.

    Science.gov (United States)

    2010-04-01

    ... recovery period and/or depreciation method. (i) No effect on general asset account election. (ii) Asset is...) General rules. (ii) Special rules. (d) Determination of depreciation allowance. (1) In general. (2...) Source determined by allocation and apportionment of depreciation allowed. (ii) Formula for...

  15. 26 CFR 1.430(g)-1 - Valuation date and valuation of plan assets.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 5 2010-04-01 2010-04-01 false Valuation date and valuation of plan assets. 1... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Certain Stock Options § 1.430(g)-1 Valuation date and valuation of plan assets. (a) In general—(1) Overview. This section provides rules relating to a...

  16. 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.

  17. 77 FR 31981 - Eligible Obligations, Charitable Contributions, Nonmember Deposits, Fixed Assets, Investments...

    Science.gov (United States)

    2012-05-31

    ... incidental to its operations. 12 U.S.C. 1757(4). Generally, the fixed assets rule provides limits on fixed asset investments, establishes occupancy and other requirements for acquired and abandoned premises, and... only to RegFlex FCUs. The Board issued a Notice of Proposed Rulemaking (NPRM) in December 2011. 76...

  18. USED NUCLEAR MATERIALS AT SAVANNAH RIVER SITE: ASSET OR WASTE?

    Energy Technology Data Exchange (ETDEWEB)

    Magoulas, V.

    2013-06-03

    The nuclear industry, both in the commercial and the government sectors, has generated large quantities of material that span the spectrum of usefulness, from highly valuable (“assets”) to worthless (“wastes”). In many cases, the decision parameters are clear. Transuranic waste and high level waste, for example, have no value, and is either in a final disposition path today, or – in the case of high level waste – awaiting a policy decision about final disposition. Other materials, though discardable, have intrinsic scientific or market value that may be hidden by the complexity, hazard, or cost of recovery. An informed decision process should acknowledge the asset value, or lack of value, of the complete inventory of materials, and the structure necessary to implement the range of possible options. It is important that informed decisions are made about the asset value for the variety of nuclear materials available. For example, there is a significant quantity of spent fuel available for recycle (an estimated $4 billion value in the Savannah River Site’s (SRS) L area alone); in fact, SRS has already blended down more than 300 metric tons of uranium for commercial reactor use. Over 34 metric tons of surplus plutonium is also on a path to be used as commercial fuel. There are other radiological materials that are routinely handled at the site in large quantities that should be viewed as strategically important and / or commercially viable. In some cases, these materials are irreplaceable domestically, and failure to consider their recovery could jeopardize our technological leadership or national defense. The inventories of nuclear materials at SRS that have been characterized as “waste” include isotopes of plutonium, uranium, americium, and helium. Although planning has been performed to establish the technical and regulatory bases for their discard and disposal, recovery of these materials is both economically attractive and in the national

  19. Tasking and sharing sensing assets using controlled natural language

    Science.gov (United States)

    Preece, Alun; Pizzocaro, Diego; Braines, David; Mott, David

    2012-06-01

    We introduce an approach to representing intelligence, surveillance, and reconnaissance (ISR) tasks at a relatively high level in controlled natural language. We demonstrate that this facilitates both human interpretation and machine processing of tasks. More specically, it allows the automatic assignment of sensing assets to tasks, and the informed sharing of tasks between collaborating users in a coalition environment. To enable automatic matching of sensor types to tasks, we created a machine-processable knowledge representation based on the Military Missions and Means Framework (MMF), and implemented a semantic reasoner to match task types to sensor types. We combined this mechanism with a sensor-task assignment procedure based on a well-known distributed protocol for resource allocation. In this paper, we re-formulate the MMF ontology in Controlled English (CE), a type of controlled natural language designed to be readable by a native English speaker whilst representing information in a structured, unambiguous form to facilitate machine processing. We show how CE can be used to describe both ISR tasks (for example, detection, localization, or identication of particular kinds of object) and sensing assets (for example, acoustic, visual, or seismic sensors, mounted on motes or unmanned vehicles). We show how these representations enable an automatic sensor-task assignment process. Where a group of users are cooperating in a coalition, we show how CE task summaries give users in the eld a high-level picture of ISR coverage of an area of interest. This allows them to make ecient use of sensing resources by sharing tasks.

  20. The Impact of Foreign Asset Investments on the Performance of Brazilian Pension Funds

    Directory of Open Access Journals (Sweden)

    Luiz Felipe Jacques Motta

    2009-02-01

    Full Text Available The present study has performed an analysis of the effects caused in the performance of Brazilian pension funds by the inclusion of international assets in their portfolios. The Resolution CMN 3456 of June 1, 2007 allowed pension funds in Brazil to allocate up to 3% of their investments in international hedge funds. Given the wide range of assets classes available in this category of hedge funds, this study has focused on international assets. The investments in such asset classes do not generate a major effect on the efficient frontier of the pension funds’ investments. The results do not change much even if we increase the constraint from 3% to 20%. However, changes in the current economic environment indicate that finding alternative investments that can enhance the asset performance on a long term view will be a crucial factor to maintain the financial health of pension funds.