WorldWideScience

Sample records for assets

  1. 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...

  2. Asset prices and priceless assets

    NARCIS (Netherlands)

    Penasse, J.N.G.

    2014-01-01

    The doctoral thesis studies several aspects of asset returns dynamics. The first three chapters focus on returns in the fine art market. The first chapter provides evidence for the existence of a slow-moving fad component in art prices that induces short-term return predictability. The article has b

  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. Preparing for asset retirement.

    Science.gov (United States)

    Luecke, Randall W; Reinstein, Alan

    2003-04-01

    Statement of Financial Accounting Standards (SFAS) No. 143 requires organizations to recognize a liability for an asset retirement obligation when it is incurred--even if that occurs far in advance of the asset's planned retirement. For example, organizations must recognize future costs associated with medical equipment disposal that carries hazardous material legal obligations.

  5. 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,...

  6. 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...

  7. IT Asset Management System -

    Data.gov (United States)

    Department of Transportation — ITAMS provides a web frontend for the managing of all HW Assets lifecycle data purchased by ATO since 2006. In addition it contains much of our Enterprise SW license...

  8. Solar Asset Management Software

    Energy Technology Data Exchange (ETDEWEB)

    Iverson, Aaron [Ra Power Management, Inc., Oakland, CA (United States); Zviagin, George [Ra Power Management, Inc., Oakland, CA (United States)

    2016-09-30

    Ra Power Management (RPM) has developed a cloud based software platform that manages the financial and operational functions of third party financed solar projects throughout their lifecycle. RPM’s software streamlines and automates the sales, financing, and management of a portfolio of solar assets. The software helps solar developers automate the most difficult aspects of asset management, leading to increased transparency, efficiency, and reduction in human error. More importantly, our platform will help developers save money by improving their operating margins.

  9. Management of Intangible Assets

    OpenAIRE

    Ioan BIRCEA; Noemi Iuliana BIRCEA

    2011-01-01

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

  10. 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.

  11. 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.

  12. Real Assets and Capital Structure

    NARCIS (Netherlands)

    Campello, M.; Giambona, E.

    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

  13. Asset management program

    Energy Technology Data Exchange (ETDEWEB)

    Wison, P.; Newman, G. [Bruce Power, Tiverton, Ontario (Canada)

    2013-07-01

    In order to understand our assets we have been assessing the condition of the units in our nuclear power plants developing asset life management options on a component by component basis. We have concluded that with the right work and planning we will be able to manage the units in a way that balances capacity requirements over the long term and at the same time manage the demand on critical resources. Major component replacement outages include Installing/removing bulkheads, pressure tube and calandria tube replacement, feeder replacement, steam generator replacement, supporting facilities and infrastructure, reactor inspections and maintenance including tooling enhancements, additional non reactor systems inspection & testing and continued research and analysis. These plans will have to take into account cost, resource and capacity requirements.

  14. 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 ...

  15. Asset sales, asset exchanges, and shareholder wealth in China

    Directory of Open Access Journals (Sweden)

    Weiting Huang

    2012-01-01

    Full Text Available In this paper, we study a sample of 1376 corporate asset sales and 250 asset exchanges in China between 1998 and 2006. We find that corporate asset sales in China enhance firm value with a cumulative abnormal return (CAR of 0.46% for the pre-announcement five-day period, which is consistent with the evidence discovered in both U.K. and U.S. For companies that exchanged assets during the sample period, the pre-announcement five-day CAR of 1.32% is statistically significant. We also discover that gains from divesting assets are positively related to managerial performance measured by Tobin's q ratio and the relative size of the asset sold or exchanged. Well-managed (high-q companies are more likely to sell or exchange assets in a value-maximizing fashion than poorly managed (low-q companies. Furthermore, asset-seller gains are not related to enhancing corporate focus, but improving corporate focus by exchanging for core assets enhances firm value.

  16. 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.

  17. 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...

  18. Targeted assets risk analysis.

    Science.gov (United States)

    Bouwsema, Barry

    2013-01-01

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

  19. Brand as an intangible asset

    OpenAIRE

    Shigina Natalya Sergeevna

    2012-01-01

    Purpose - determine the place and role of brand intangible assets. Methodology - investigations are analytical in nature. Results - the analysis of influence of the brand on a reputation for enterprise approaches to the evaluation of the brand as an asset, specify the value of the brand should be reflected in the balance sheet. Practical implications - these studies can be useful for any enterprise.

  20. 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

  1. 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,…

  2. 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

  3. 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)

  4. 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....

  5. 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

  6. Third Party Logistics: Is asset intensity competition as asset for growth?

    OpenAIRE

    Kwa, Francis CH

    2010-01-01

    Logistics trade journals, research literatures and annual reports from third party logistics firms claimed “Asset Intensity” strategy (asset-based, asset-light, non asset-based) is a strategy for superior financial performance. This thesis seeks to determine the origin and definition of the “Asset Intensity” strategy and its claim as a strategy for superior financial performance.

  7. Causes of asset shortages in emerging markets

    Directory of Open Access Journals (Sweden)

    Jiaqian Chen

    2013-01-01

    Full Text Available We first illustrate that emerging markets (EMs face a shortage of financial assets, with financial assets not growing as rapidly as domestic savings. An estimation to quantify the asset shortage in EMs for 1995–2008 is then undertaken. A theoretical model is developed to explain why asset shortages occur. We then econometrically estimate the causes of asset shortages, and conclude with policy implications.

  8. 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.

  9. 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...

  10. 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...

  11. Strategic Asset Seeking by EMNEs

    DEFF Research Database (Denmark)

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

    2014-01-01

    as the more relevant concept to use when explaining strategic asset seeking of EMNEs. A set of propositions are formulated to guide empirical testing. Originality/value: The insights gained from using the springboard perspective and the LOO concept are non-trivial: They basically predict future dominance...

  12. 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)

  13. 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...

  14. Experimental research on asset pricing

    NARCIS (Netherlands)

    Noussair, C.N.; Tucker, S.

    2013-01-01

    This paper discusses some of the literature on asset market behavior. We do not intend this paper to be an exhaustive survey, but rather a review of some of the more influential results and to illustrate to the nonspecialist reader the diversity of topics that have been pursued.

  15. 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.

  16. Recreational Assets in the State of Iowa

    Data.gov (United States)

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

  17. 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...

  18. Community Asset Mapping. Trends and Issues Alert.

    Science.gov (United States)

    Kerka, Sandra

    Asset mapping involves documenting tangible and intangible resources of a community viewed as a place with assets to be preserved and enhanced, not deficits to be remedied. Kretzmann and McKnight (1993) are credited with developing the concept of asset-based community development (ABCD) that draws on appreciative inquiry; recognition of social…

  19. Defining ecosystem assets for natural capital accounting

    NARCIS (Netherlands)

    Hein, Lars; Bagstad, Ken; Edens, Bram; Obst, Carl; Jong, de Rixt; Lesschen, Jan Peter

    2016-01-01

    In natural capital accounting, ecosystems are assets that provide ecosystem services to people. Assets can be measured using both physical and monetary units. In the international System of Environmental-Economic Accounting, ecosystem assets are generally valued on the basis of the net present va

  20. 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...

  1. Excess Asset Returns and Limited Enforcement

    OpenAIRE

    Lambertini, Luisa; Azariadis, Costas

    2002-01-01

    This paper investigates the effect of limited enforcement of contracts on asset returns in a three-period pure- exchange overlapping generations economy. We consider a life-cycle setting with a safe and a risky asset and find that lack of commitment can significantly affect the rate of returns of these assets and possibly generate large equity premia.

  2. 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

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

    Science.gov (United States)

    Holub, Patricia A.

    2007-01-01

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

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

    OpenAIRE

    CHRISTOPH MEINERDING

    2012-01-01

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

  5. Financial Assets [share, bonds] & Ancylia

    Science.gov (United States)

    Maksoed, Wh-

    2016-11-01

    Instead Elaine Scarry: "Thermonuclear monarchy" reinvent Carry Nation since Aug 17, 1965 the Republic of Indonesia's President speech: "Reach to the Star", for "cancellation" usually found in External Debt herewith retrieved from "the Window of theWorld": Ancylia, feast in March, a month named after Mars, the god of war. "On March 19 they used to put on their biggest performance of gymnastics in order to "bribe" their god for another good year", further we have vacancy & "vacuum tube"- Bulat Air karena Pembuluh, Bulat Kata karena Mufakat" proverb from Minangkabau, West Sumatra. Follows March 19, 1984 are first prototype flight of IAI Astra Jet as well as March 19, 2012 invoice accompanies Electric car Kujang-193, Fainancial Assets [share, bonds] are the answer for "infrastructure" & state owned enterprises assets to be hedged first initial debt per capita accordances. Heartfelt gratitudes to HE. Mr. Ir. Sarwono Kusumaatmadja/PT. Smartfren INDONESIA.

  6. Essays in Empirical Asset Pricing

    DEFF Research Database (Denmark)

    Rzeznik, Aleksandra

    This thesis consists of three essays investigating financial and real estate markets and identifying a relationship between them. A 2008 financial crises provides a perfect example of sizeable interactions between US housing market and equity prices, where a negative shock to house prices triggered...... a word-wide recession. Therefore, understanding forces driving investors behaviour and preferences, which in turn affect asset prices in both equity and housing market are of great interest....

  7. Reputation asset and environmental liability

    OpenAIRE

    Sjöblom, Rolf; Lindskog, Staffan

    2014-01-01

    The second largest asset to a company may well be its good reputation. Environmental liabilities warrant special attention in this regard since they may well constitute the largest uncertainty in an annual report, and it is not seldom discovered that they have been underestimated. The purpose of the paper is to compile and present a road map as to how to meet the legal and other requirements, and to analyse the alternatives of proactive and reactive approaches. The legal requirements are to b...

  8. Complex issues in accounting for fixed assets

    Directory of Open Access Journals (Sweden)

    Mykhaylo Luchko

    2013-11-01

    Full Text Available This paper considers the mentioned complex issues of business fixed assets accounting. The main emphasis in this case refers to the change in value of fixed assets over time. Author studied problems of the regulatory revaluation of fixed assets in accordance with the applicable accounting standards (regulations. Particular attention is paid to the revaluation and impairment of the business fixed assets objects and their recording on accounts. Author analyzed the complex issues in establishing the fair value of fixed assets. Attention is focused on the harmonization of accounting information with tax calculations and reporting provided by the Ukrainian Tax Code. In considering the matter referred to the tax differences (temporary and permanent. Established tax differences in depreciation of fixed assets, impairment amounts and revaluation of fixed assets and accounting entries to them.

  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. 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

  11. 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...

  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.

  13. 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

  14. Valuation of intellectual property and intangible assets

    OpenAIRE

    2010-01-01

    M.Comm. Intangible assets are increasingly becoming the critical determinant of value creation and future profitability of most businesses. There is a clear distinction between the accounting treatment of physical assets and are reported on the firm’s balance sheets, but intangible assets are by large written off in the income statement, along with regular expenses such as wages, rents and interest. This distorted treatment of intangibles in an accounting sense, has dire consequences for m...

  15. Energy Risk Management with Carbon Assets

    OpenAIRE

    Chevallier, Julien

    2009-01-01

    This article proposes a mean-variance optimization and portfolio frontier analysis of energy risk management with carbon assets, introduced in January 2005 as part of the EU Emissions Trading Scheme. In a stylized exercise, we compute returns, standard deviations and correlations for various asset classes from April 2005 to January 2009. Our central result features an expected return of 3% with a standard deviation < 0.06 by introducing carbon assets – carbon futures and CERs- in a diversifie...

  16. Conditional Density Models for Asset Pricing

    OpenAIRE

    Filipovic, Damir; Hughston, Lane P.; Macrina, Andrea

    2010-01-01

    We model the dynamics of asset prices and associated derivatives by consideration of the dynamics of the conditional probability density process for the value of an asset at some specified time in the future. In the case where the asset is driven by Brownian motion, an associated "master equation" for the dynamics of the conditional probability density is derived and expressed in integral form. By a "model" for the conditional density process we mean a solution to the master equation along wi...

  17. 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 ...

  18. 12 CFR 567.12 - Purchased credit card relationships, servicing assets, intangible assets (other than purchased...

    Science.gov (United States)

    2010-01-01

    ...-taxable business combinations. A deferred tax liability that is specifically related to an intangible asset (other than purchased credit card relationships) arising from a nontaxable business combination may be netted against this intangible asset. The net amount of the intangible asset must be...

  19. 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.

  20. 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...

  1. 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...

  2. 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

  3. Liquidity-related plan asset issues.

    Science.gov (United States)

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

    2000-12-01

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

  4. 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.

  5. International dynamic asset allocation and return predictability

    NARCIS (Netherlands)

    Basu, D.; Oomen, R.; Stremme, A.

    2010-01-01

    The presence of time varying investment opportunity sets has been documented in the context of international asset allocation, and the economic value associated with these is a topic of lively debate in the academic literature. This paper constructs simple, real-time dynamic international asset allo

  6. 12 CFR 347.210 - Asset maintenance.

    Science.gov (United States)

    2010-01-01

    ... primary regulator, may require that a higher ratio of eligible assets be maintained if the financial... requiring a higher ratio of eligible assets are the concentration of risk to any one borrower or group of... Reserves or equivalent write down, or “Loss” in the most recent state or federal examination report;...

  7. Intangible assets for intangible deliverables

    DEFF Research Database (Denmark)

    Elsmore, Matthew J.

    2008-01-01

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

  8. Investor Flows to Asset Managers

    DEFF Research Database (Denmark)

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

    2014-01-01

    Cash flows between investors and funds are both cause and effect in a complex web of economic decisions. Among the issues at stake are the prospects and fees of the funds, the efforts and risk choices by the funds' managers, the pricing and comovement of the assets they trade, the stability...... of the financial system and the real economy, and the retirement security and protection of the investors. There is an accordingly large and growing literature on flows that has concentrated on the main retail investment pool, the open-end mutual fund, and has used flows to explore many aspects of retail financial...... decision making. We survey this literature and, where relevant, describe how open-end flows compare to other investment vehicles. We also identify opportunities both for future research and for refinement of mutual fund design, in particular as suggested by the recent rethinking of retail investment pools...

  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. USING RF TECHNOLOGY FOR PROTECTED ASSET TRACKING

    Energy Technology Data Exchange (ETDEWEB)

    Younkin, James R [ORNL; Pickett, Chris A [ORNL; Richardson, Dave [ORNL; Stinson, Brad J [ORNL

    2008-01-01

    The Oak Ridge National Laboratory (ORNL) is working on systems that use a new radio frequency (RF) technology called Rubee to manage and inventory many types of protected assets, including weapons housed in Department of Energy (DOE) armories, tooling, and nuclear material containers. Rubee is being considered for an IEEE Standard, and is used on several projects at ORNL because of its high performance when used in, on, and around metal-an environment that is typical of that found in an armory vault and that of many other protected assets locations within nuclear facilities. The primary objective using Rubee is to supply sustainable technology that provides timely information on the status and location of protected assets. This paper focuses on the results from a deployment of this technology at a DOE armory and discusses the applicability of Rubee for use with other protected assets within nuclear facilities. Key Words: Rubee , low radio frequency, protected assets

  11. 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...

  12. 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.

  13. 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

  14. 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.

  15. Asset Management for Water and Wastewater Utilities

    Science.gov (United States)

    Renewing and replacing the nation's public water infrastructure is an ongoing task. Asset management can help a utility maximize the value of its capital as well as its operations and maintenance dollars.

  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 age....... The concerns for Media Asset Management, human and technical, are myriad. Media Asset Management is the framework upon which many of the largest technology projects will be built, including the future interconnection system between and among CPB member stations. It is CPB's hope that its licensees...... and their partners in university, museum, and library communities, will work together to contribute to Media Asset Management solutions. These issues are not unique to Public Broadcasters. Similar issues are faced by all networks at different levels of complexity. This panel will present efforts by broadcasters...

  17. 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

  18. 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...

  19. 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.

  20. The Role of Agribusiness Assets in Investment Portfolios

    OpenAIRE

    Johnson, Michael; Malcolm, Bill; O'Connor, Ian

    2006-01-01

    Investment in agribusiness assets has grown significantly in recent years. The question of interest is whether including agribusiness assets in investment portfolios provide benefits. The effects of diversification by including agribusiness assets in two investment portfolios, a mixed asset portfolio and a diversified share portfolio was investigated using Markowitz’s (1952) Modern Portfolio Theory (MPT) of mean-variance optimization. To measure the performance of agribusiness assets, an in...

  1. The pricing of illiquidity and illiquid assets : Essays on empirical asset pricing

    NARCIS (Netherlands)

    Tuijp, Patrick

    2016-01-01

    This dissertation studies the pricing of liquidity and illiquid assets. For this thesis, liquidity will generally refer to the ease with which an asset can be traded. The first chapter investigates the role of the investment horizon in the impact of illiquidity on stock prices. We obtain a clientele

  2. 76 FR 4231 - Issuer Review of Assets in Offerings of Asset-Backed Securities

    Science.gov (United States)

    2011-01-25

    ...- party expert to assist in determining the fair values of certain assets or liabilities disclosed in a...-interps.htm (whether a registrant that has engaged a third-party expert to assist in determining fair... grading of specific loans in a sample provided by the asset purchaser, according to whether the loans...

  3. 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

  4. 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

  5. Defining Ecosystem Assets for Natural Capital Accounting.

    Science.gov (United States)

    Hein, Lars; Bagstad, Ken; Edens, Bram; Obst, Carl; de Jong, Rixt; Lesschen, Jan Peter

    2016-01-01

    In natural capital accounting, ecosystems are assets that provide ecosystem services to people. Assets can be measured using both physical and monetary units. In the international System of Environmental-Economic Accounting, ecosystem assets are generally valued on the basis of the net present value of the expected flow of ecosystem services. In this paper we argue that several additional conceptualisations of ecosystem assets are needed to understand ecosystems as assets, in support of ecosystem assessments, ecosystem accounting and ecosystem management. In particular, we define ecosystems' capacity and capability to supply ecosystem services, as well as the potential supply of ecosystem services. Capacity relates to sustainable use levels of multiple ecosystem services, capability involves prioritising the use of one ecosystem service over a basket of services, and potential supply considers the ability of ecosystems to generate services regardless of demand for these services. We ground our definitions in the ecosystem services and accounting literature, and illustrate and compare the concepts of flow, capacity, capability, and potential supply with a range of conceptual and real-world examples drawn from case studies in Europe and North America. Our paper contributes to the development of measurement frameworks for natural capital to support environmental accounting and other assessment frameworks.

  6. 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...

  7. Modelling the Costs of Preserving Digital Assets

    DEFF Research Database (Denmark)

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

    2012-01-01

    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......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...... 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...

  8. 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.

  9. 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.

  10. 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

  11. 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

  12. 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.

  13. Asset Freezing: Smart Sanction or Criminal Charge?

    NARCIS (Netherlands)

    Broek, Melissa van den; Hazelhorst, Monique; Zanger, Wouter de

    2011-01-01

    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

  14. Aging System Sustainment and Enabling Technologies (ASSET)

    Science.gov (United States)

    2014-03-31

    137.5 Page 17 Budgetary Overview The ASSET contract was awarded in the amount of $2,043,162.35 on September 28, 2011 for a beginning period of...Technologies Inc Lilburn Georgia AGRI Dynamics Inc Albany Georgia Alektronics, Inc. Beavercreek Ohio All Right Steel, LLC Gushing Oklahoma Allegra

  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. 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…

  17. 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.

  18. 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...

  19. Determining Asset Criticality for Cyber Defense

    Science.gov (United States)

    2011-09-23

    algorithms that fit our criteria or adapt them in a manner that enables us to use them. 2) Recommender Systems Companies such as Netflix and Amazon use...are, can we understand the consequences of losing these assets, and produce a risk management strategy in which actions to deter threats or mitigate

  20. 75 FR 23327 - Asset-Backed Securities

    Science.gov (United States)

    2010-05-03

    ... financial assets, in many cases illiquid, are pooled and converted into instruments that are offered and... related instruments resulted in the display of price depreciation and volatility far in excess of levels... assessments on instruments that were often quite complex and also noting that downgrades were even...

  1. 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.

  2. 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

  3. 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.

  4. Asset Management: A Maintenance Engineers View

    NARCIS (Netherlands)

    Dongen, van L.A.M.

    2015-01-01

    In the past, assets were designed in large construction teams but companies in recent decades focus more and more on their core activities. The management of capital goods is being organized in the (supply) chain of owners, users, manufacturers, research institutes, IT, service providers and so on.

  5. 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

  6. Asset Reuse of Images from a Repository

    Science.gov (United States)

    Herman, Deirdre

    2014-01-01

    According to Markus's theory of reuse, when digital repositories are deployed to collect and distribute organizational assets, they supposedly help ensure accountability, extend information exchange, and improve productivity. Such repositories require a large investment due to the continuing costs of hardware, software, user licenses, training,…

  7. 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.

  8. 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...... 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 estimated on US data and the resulting pricing errors are compared using average pricing errors and a number of composite pricing error measures. The conditional C-CAPM and the two beta I-CAPM of Campbell and Vuolteenaho (2004) result in pricing errors of approximately the same size, both average...

  9. 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

  10. Assets and Liabilities Management – Concept and Optimal Organization

    OpenAIRE

    Ciobotea Adina; Oaca Sorina Cristina

    2011-01-01

    Asset-liability management (ALM) is a term whose meaning has evolved. It is used in slightly different ways in different contexts. ALM was pioneered by financial institutions, but corporations now also apply ALM techniques. In banking, asset and liability management is the practice of managing risks that arise due to mismatches between the assets and liabilities (debts and assets) of the bank. This can also be seen in insurance. Banks face several risks such as the liquidity risk, interest ra...

  11. STRATEGIC OUTLINES: BETWEEN VALUE AND DIGITAL ASSETS MANAGEMENT

    OpenAIRE

    Delia Babeanu; Alexandru Adrian Gavrila; Valerica Mares

    2009-01-01

    Enterprise content management leverages digital asset management to supportbusiness channel diversity. Business asset management technology is targeted to products and finalservices. By capturing photos, videos, logos and other creative assets in a central repository itbecomes possible to control how, when and by whom these assets are used.The ability to locate different images enhances collaboration inside and outside the organization.To provide full value, the system links to technologies t...

  12. 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...

  13. Application of the Fibonacci sequence in asset markets

    OpenAIRE

    Hájek, Štěpán

    2015-01-01

    This bachelor thesis deals with the possibilities of using the Fibonacci sequence in asset markets. First, it introduces the issue of asset market and describes the individual assets. Then it explains, twhat it is the Fibonacci sequence and what mechanisms cause that it can be applied to conduct market assets. Describes the various technical analysis tools, which using this sequence. In the next section, the reader is familiar with various business strategies that utilize the tools and indica...

  14. 18 CFR 367.22 - Accounting for 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 Accounting for asset... GAS ACT General Instructions § 367.22 Accounting for asset retirement obligations. (a) An asset... measurement changes to the initial liability for the legal obligation recorded in account 230,...

  15. Spectral decomposition of optimal asset-liability management

    NARCIS (Netherlands)

    Decamps, M.; de Schepper, A.; Goovaerts, M.

    2009-01-01

    This paper concerns optimal asset-liability management when the assets and the liabilities are modeled by means of correlated geometric Brownian motions as suggested in Gerber and Shiu [2003. Geometric Brownian motion models for assets and liabilities: from pension funding to optimal dividends. Nort

  16. Building Students' Developmental Assets To Promote Health and School Success.

    Science.gov (United States)

    Scales, Peter C.

    2000-01-01

    Discusses research identifying and examining specific "developmental assets": positive building blocks that all children and youth need for success. Discusses the role of these assets in health promotion and risk reduction. Outlines specific actions educators can take to build 12 of these developmental assets. Notes the special place of health…

  17. 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...

  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. 76 FR 78553 - Reporting of Specified Foreign Financial Assets

    Science.gov (United States)

    2011-12-19

    ... Internal Revenue Service 26 CFR Part 1 RIN 1545-BK17 Reporting of Specified Foreign Financial Assets AGENCY... reporting specified foreign financial assets. For a financial account, the name and address of the financial... also excepted from reporting. Specified foreign financial assets that qualify for either of these...

  20. 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...

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

    Institute of Scientific and Technical Information of China (English)

    MCDONALD John F.

    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.

  3. CONSIDERATION REGARDING CURRENT ASSETS IN THE CONSTRUCTION ENTITIES

    Directory of Open Access Journals (Sweden)

    Laura Adriana COJOCARU (ALIONESCU

    2014-06-01

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

  4. 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.

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

    DEFF Research Database (Denmark)

    Flor, Christian Riis; Hirth, Stefan

    2013-01-01

    We analyze how the liquidity of real and financial assets affects corporate investment. The trade-off between liquidation costs and underinvestment costs implies that low-liquidity firms exhibit negative investment sensitivities to liquid funds, whereas high-liquidity firms have positive...... 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...... the investment sensitivity. Our findings demonstrate that asset liquidity is an important determinant of corporate investment....

  6. 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.

  7. HIGHER LEVEL OF INTELLECTUAL ASSET MANAGEMENT

    Directory of Open Access Journals (Sweden)

    ROMANESC MARCEL LAURENTIU

    2014-05-01

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

  8. 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...

  9. Aging Systems Sustainment and Enabling Technologies (ASSET)

    Science.gov (United States)

    2012-08-14

    CAGE Code, (2) apply/confirm JCP, (3) validate capabilities, (4) perform baseline audit o\\’ current QMS, (5) initiate/provide ISO 9001 -2008 template...6) perform ISO based overview . (7) perform follow up audits when QMS system is in place. Several firms were confirmed to be, ISO 9001 -2008...compliant or ISO 9001 -2008 registered or registered AS 9100 Rev C firms. Based upon the classification of the ASSET projects, each firm was provided with

  10. Accounting for Leases of Biological Livestock Assets

    OpenAIRE

    Petro Suk

    2015-01-01

    The purpose of the article is the analysis and assessment of options of animals lease, disclosure of accounting for lease transactions and settlements between landlords and tenants. Biological livestock assets can be transferred in the financial and operating leases. The specific features of the lease are due to the fact that: a) the animals, as living organisms require constant care, regardless of their legal and de facto owner; b) a significant part of animal products produced in the farms ...

  11. 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.

  12. 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.

  13. 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.

  14. 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.

  15. 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.

  16. 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.

  17. Prospective Associations Among Assets and Successful Transition to Early Adulthood.

    Science.gov (United States)

    Oman, Roy F; Vesely, Sara K; Aspy, Cheryl B; Tolma, Eleni L

    2015-01-01

    Objectives. We investigated prospective associations among assets (e.g., family communication), which research has shown to protect youths from risk behavior, and successful transition to early adulthood (STEA). Methods. We included participants (n = 651) aged 18 years and older at study wave 5 (2007-2008) of the Youth Asset Study, in the Oklahoma City, Oklahoma, metro area, in the analyses. We categorized 14 assets into individual-, family-, or community-level groups. We included asset groups assessed at wave 1 (2003-2004) in linear regression analyses to predict STEA 4 years later at wave 5. Results. Individual- and community-level assets significantly (P assets participants possessed the better the STEA outcome. There was a gender interaction for family-level assets suggesting that family-level assets were significant predictors of STEA for males but not for females. Conclusions. Public health programming should focus on community- and family-level youth assets as well as individual-level youth assets to promote positive health outcomes in early adulthood.

  18. A technologically-driven asset management approach to managing physical assets: a literature review and research agenda for 'smart' asset management

    Directory of Open Access Journals (Sweden)

    Nel, Charles Benjamin Hirschowitz

    2016-12-01

    Full Text Available The concept of ‘smart’ is increasingly used in the commercial environment, and relates to a perception of technological intelligence. The concept of ‘Internet of Things’ (IoT has also become a reality that makes a different approach to managing physical assets necessary. With this technological intelligence come vast quantities of asset data and the analysis thereof, which has proven to add value to asset management. To capitalise on and expand this value creation, smart asset management (SAM came into being by incorporating proven methodologies and applying these in real-time management structures. This article offers a review of the existing literature, and aims to create industry awareness about the business potential of incorporating SAM into automated asset environments for strategic management decision-making.

  19. Marketing Plan for Demonstration and Validation Assets

    Energy Technology Data Exchange (ETDEWEB)

    None, 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.

  20. 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.

  1. 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...

  2. 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

  3. UT40 - Asset Library Open Architecture Framework (ALOAF) Version 0.8 - Draft

    Science.gov (United States)

    1991-11-22

    assets and provides one or more classification schemesI that a reuser may employ to locate an individual asset in that collection. An asset library may...also provide a reuser with information about each asset, such as the creation date of or an abstract for each asset. All of the information that an...asset library maintains about its assets, both information to support classification and information provided directly to a reuser , is described by the

  4. 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...

  5. Prognostic Health Management of DoD Assets

    Science.gov (United States)

    2015-06-01

    Feb-2012 12-Feb-2015 Approved for Public Release; Distribution Unlimited Final Report: Prognostic Health Management of DoD Assets The views, opinions...in non peer-reviewed journals: Final Report: Prognostic Health Management of DoD Assets Report Title This proposed research will synergistically...Final Report AMSRD-ARL-RO-SI Proposal Number: 60562-EG-REP PROGNOSTIC HEALTH MANAGEMENT OF DOD ASSETS Mannur J. Sundaresan, PI

  6. Condition Assessment Aspects of an Asset Management Program

    Science.gov (United States)

    2008-01-01

    guidance to agencies for improved agency accountability and performance through the application of defined asset management business procedures. The...for Improved Asset Management . http://www.whitehouse.gov/omb/financial/ fia /frpc_guidance.pdf Federal Highway Administration (FHWA). 1995. Recording...ER D C/ CE R L SR -0 8 -1 Navigation Systems Program Condition Assessment Aspects of an Asset Management Program Stuart D. Foltz and

  7. 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....

  8. Asset Return Dynamics under Bad Environment Good Environment Fundamentals

    OpenAIRE

    2009-01-01

    We introduce a "bad environment-good environment" technology for consumption growth in a consumption- based asset pricing model. Using the preference structure from Campbell and Cochrane (1999), the model generates realistic time-varying volatility, skewness and kurtosis in fundamentals while still permitting closed-form solutions for asset prices. The model not only fits standard salient asset prices features including means and volatilities for equity returns and risk free rates, but also g...

  9. 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...

  10. 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...

  11. 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.

  12. Ising model of financial markets with many assets

    Science.gov (United States)

    Eckrot, A.; Jurczyk, J.; Morgenstern, I.

    2016-11-01

    Many models of financial markets exist, but most of them simulate single asset markets. We study a multi asset Ising model of a financial market. Each agent has two possible actions (buy/sell) for every asset. The agents dynamically adjust their coupling coefficients according to past market returns and external news. This leads to fat tails and volatility clustering independent of the number of assets. We find that a separation of news into different channels leads to sector structures in the cross correlations, similar to those found in real markets.

  13. 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.

  14. Asset management in theory and practice.

    Science.gov (United States)

    Mace, J D

    1998-01-01

    Managing capital-intensive imaging environments continues to be a challenge for nearly all administrators. Asset management, the strategic management of equipment inventory, must include planning, assessment, procurement, utilization review, maintenance, repair and disposal of equipment to reduce costs and improve efficiency. It must involve some shared risk between the facility and the provider, whether an original equipment manufacturer (OEM) or independent service organization (ISO). An absence of risk in the arrangement implies the provider is offering service management or consulting. A case study reports on three hospitals in the OhioHealth system. Their immediate goal, as they began to investigate asset management: cut costs immediately. A cross-functional team from the three hospitals began its investigation of various options, including working with ISOs, OEMs and development of inhouse clinical engineering. After developing a process to evaluate vendors, the team was able to score each against their cost-reduction potential, quality and implementation skills. The team narrowed its selection quickly to two multivendor service providers. An initial contract guaranteed savings of 20 percent of the annual budget, with a projected two to five percent additional savings. OEM relationships were moved to a time-and-materials basis, and ISOs were used in selected areas. In addition, the internal inhouse clinical engineering services group was moved into a "first call" approach in some areas. That expanded role resulted in savings and improved response time. The process, although not without its problems, was viewed favorably overall.

  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. 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)].

  17. 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.

  18. USAF Logistics Process Optimization Study for the Aircraft Asset Sustainment Process. Volume 3. Future to be Asset Sustainment Process Model.

    Science.gov (United States)

    2007-11-02

    Models), contains the To-Be Retail Asset Sustainment Process Model displaying the activities and functions related to the improved processes for receipt...of a logistics process model for a more distant future asset sustainment scenario unconstrained by today’s logistics information systems limitations...It also contains a process model reflecting the Reengineering Team’s vision of the future asset sustainment process.

  19. 26 CFR 1.1060-1 - Special allocation rules for certain asset acquisitions.

    Science.gov (United States)

    2010-04-01

    ... non-recognition exchanges. (9) Insurance business. (c) Allocation of consideration among assets under... assets. Factors to be considered include— (A) The presence of any intangible assets (whether or not those assets are section 197 intangibles), provided, however, that the transfer of such an asset in the...

  20. 77 FR 36228 - Financial Asset Securitization Investment Trusts

    Science.gov (United States)

    2012-06-18

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 RIN 1545-AU94 Financial Asset Securitization Investment Trusts..., authorized a securitization vehicle called a Financial Asset Securitization Investment Trust (FASIT)....

  1. 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...

  2. 13 CFR 120.546 - Loan asset sales.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Loan asset sales. 120.546 Section 120.546 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION BUSINESS LOANS Servicing... a defaulted 504 loan in an asset sale conducted or overseen by SBA. Homestead Protection for Farmers...

  3. 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.

  4. 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.

  5. A generalized dynamic conditional correlation model for many asset returns

    NARCIS (Netherlands)

    C.M. Hafner (Christian); Ph.H.B.F. Franses (Philip Hans)

    2003-01-01

    textabstractIn this paper we put forward a generalization of the Dynamic Conditional Correlation (DCC) Model of Engle (2002). Our model allows for asset-specific correlation sensitivities, which is useful in particular if one aims to summarize a large number of asset returns. The resultant GDCC mode

  6. Long-Term Association between Developmental Assets and Health Behaviors

    Science.gov (United States)

    Bleck, Jennifer; DeBate, Rita

    2016-01-01

    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…

  7. Health Assets in Nursing Documentation of Cancer Care.

    OpenAIRE

    Rotegård, Ann Kristin; Fagermoen, May Solveig; Ruland, Cornelia M.

    2012-01-01

    Patients’ experiences, knowledge and preferences, as well as more person-centered care need to be implemented in clinical support systems and are central values and outcomes of eHealth. Health assets represent such information. The concept of health assets was explored and described based on analysis of nursing documentation in cancer patients’ records.

  8. The Working Poor: From the Economic Margins to Asset Building

    Science.gov (United States)

    Hogan, M. Janice; Solheim, Catherine; Wolfgram, Susan; Nkosi, Busisiwe; Rodrigues, Nicola

    2004-01-01

    Data from 25 participants in the Family Assets for Independence in Minnesota (FAIM) project were used to identify factors that enabled these low-income wage-earning families to save money and build assets. FAIM, part of the Individual Development Account movement, is a pilot program for families with incomes [less than or equal to] 200% of poverty…

  9. 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

  10. 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…

  11. 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...

  12. 77 FR 10422 - Reporting of Specified Foreign Financial Assets; Correction

    Science.gov (United States)

    2012-02-22

    ... Internal Revenue Service 26 CFR Part 1 RIN 1545-BJ69 Reporting of Specified Foreign Financial Assets... Monday, December 19, 2011 (76 FR 78594), relating to the reporting of specified foreign financial assets... executor is a bank, financial'' is corrected to read ``is a bank, financial''. 3. On page 78596, column...

  13. 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... misleading and are in need of clarification. List of Subjects in 26 CFR Part 1 Income taxes, Reporting...

  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... clarification. List of Subjects in 26 CFR Part 1 Income taxes, Reporting and recordkeeping...

  15. [Appliancation of logistics in resources management of medical asset].

    Science.gov (United States)

    Miroshnichenko, Iu V; Goriachev, A B; Bunin, S A

    2011-06-01

    The usage of basic regulations of logistics in practical activity for providing joints and military units with medical asset is theoretically justified. The role of logistics in organizing, building and functioning of military (armed forces) medical supply system is found out. The methods of solving urgent problems of improvement the resources management of medical asset on the basis of logistics are presented.

  16. 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...

  17. 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

  18. 34 CFR 682.420 - Federal nonliquid assets.

    Science.gov (United States)

    2010-07-01

    ... EDUCATION, DEPARTMENT OF EDUCATION FEDERAL FAMILY EDUCATION LOAN (FFEL) PROGRAM Administration of the Federal Family Education Loan Programs by a Guaranty Agency § 682.420 Federal nonliquid assets. (a... 34 Education 3 2010-07-01 2010-07-01 false Federal nonliquid assets. 682.420 Section...

  19. 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...

  20. A path integral approach to asset-liability management

    NARCIS (Netherlands)

    Decamps, M.; de Schepper, A.; Goovaerts, M.J.

    2006-01-01

    Functional integrals constitute a powerful tool in the investigation of financial models. In the recent econophysics literature, this technique was successfully used for the pricing of a number of derivative securities. In the present contribution, we introduce this approach to the field of asset-li

  1. 18 CFR 367.1750 - Account 175, Derivative instrument assets.

    Science.gov (United States)

    2010-04-01

    ... GAS ACT Balance Sheet Chart of Accounts Current and Accrued Assets § 367.1750 Account 175, Derivative... instrument assets. 367.1750 Section 367.1750 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY REGULATIONS UNDER THE PUBLIC UTILITY HOLDING COMPANY ACT OF...

  2. 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

  3. 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.

  4. 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.

  5. 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.

  6. Large Scale Asset Extraction for Urban Images

    KAUST Repository

    Affara, Lama

    2016-09-16

    Object proposals are currently used for increasing the computational efficiency of object detection. We propose a novel adaptive pipeline for interleaving object proposals with object classification and use it as a formulation for asset detection. We first preprocess the images using a novel and efficient rectification technique. We then employ a particle filter approach to keep track of three priors, which guide proposed samples and get updated using classifier output. Tests performed on over 1000 urban images demonstrate that our rectification method is faster than existing methods without loss in quality, and that our interleaved proposal method outperforms current state-of-the-art. We further demonstrate that other methods can be improved by incorporating our interleaved proposals. © Springer International Publishing AG 2016.

  7. Health assets in nursing documentation of cancer care.

    Science.gov (United States)

    Rotegård, Ann Kristin; Fagermoen, May Solveig; Ruland, Cornelia M

    2012-01-01

    Patients' experiences, knowledge and preferences, as well as more person-centered care need to be implemented in clinical support systems and are central values and outcomes of eHealth. Health assets represent such information. The concept of health assets was explored and described based on analysis of nursing documentation in cancer patients' records. A convenience sample from 100 records, available from a larger study, resulted in 43 records that met the inclusion criteria. These were analyzed using content analysis methods. A mean of 3.2 health assets was documented in these records, and 61% of the descriptions of assets quoted patients. Assets were found most often in the admission notes (49%), but no information was found that described or indicated an intended use or follow up in the nursing documentation.

  8. 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..

  9. Modelling of capital asset pricing by considering the lagged effects

    Science.gov (United States)

    Sukono; Hidayat, Y.; Bon, A. Talib bin; Supian, S.

    2017-01-01

    In this paper the problem of modelling the Capital Asset Pricing Model (CAPM) with the effect of the lagged is discussed. It is assumed that asset returns are analysed influenced by the market return and the return of risk-free assets. To analyse the relationship between asset returns, the market return, and the return of risk-free assets, it is conducted by using a regression equation of CAPM, and regression equation of lagged distributed CAPM. Associated with the regression equation lagged CAPM distributed, this paper also developed a regression equation of Koyck transformation CAPM. Results of development show that the regression equation of Koyck transformation CAPM has advantages, namely simple as it only requires three parameters, compared with regression equation of lagged distributed CAPM.

  10. 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....

  11. 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...

  12. Health assets for adolescents: opinions from a neighbourhood in Spain.

    Science.gov (United States)

    Pérez-Wilson, Patricia; Hernán, Mariano; Morgan, Antony R; Mena, Angel

    2015-09-01

    This study uses a health asset (HA) framework to explore current perspectives on health, wellbeing and their determinants amongst a group of 15-18-year-old adolescents living in the neighbourhood of Zaidin (Granada, Spain). The study was carried out in Summer 2011 using a qualitative approach. It included 20 semi-structured interviews, 2 focus groups with adolescents and 4 semi-structured interviews with key informants (adults who work with adolescents). Narrative data were analysed by means of content analysis methodology, considering the concept of health, HAs and how they are prioritized as dimensions for the analysis. The concept of health defined by adolescents involves physical, psychological and social dimensions. According to them, health is associated with happiness and quality of life. A range of HAs were identified and classified as internal (belonging to the adolescents) and external or contextual. Internal assets are classified into three types: personal traits (assets of 'being'), behaviour (assets of 'doing') and social resources which contribute to their feeling of health and well-being (assets of 'having'). The latter connects internal and external assets. The classification of HAs ('being', 'doing' and 'having') proposed in this study provides a useful starting framework of thinking about how these assets could be organized to support the development of health promotion programmes. The study highlights the opportunity for public policy to contribute to the improvement of the conditions and local scenarios that improve the possibilities for positive connections at the community level.

  13. Internal audit of costs on fixed assets repair

    Directory of Open Access Journals (Sweden)

    M.Yu. Samchyk

    2016-12-01

    Full Text Available The article focuses on the approaches to the process and methods of expenditure audit on repair and modernization of fixed assets and the author considers that there is no single approach to understanding the issue. The author improves the organizational and methodological support of internal audit of expenditures on the fixed assets repair and modernization that forms the accurate information for management repair and modernization of fixed assets. The paper specifies the goals and objectives of internal expenditures on repair and modernization of fixed assets, depending on the sources of such facilities to the company, allowing the author to determine the documentary control methods to be applied by an auditor to perform each task. The article determines the areas of risk components of internal control that can lead to ineffective implementation of authority by officials of an enterprise in the process of fixed assets repair, which can cause inefficient use of resources and, consequently, decrease in the efficiency of the work of fixed assets repair and modernization. The author proposes the list of auditor’s questions to assess the internal control system in the repair of fixed assets and these questions will help identify the significant drawbacks of control means.

  14. Analysis of Asset Classes Through the Business Cycle

    Directory of Open Access Journals (Sweden)

    Audrius Dzikevičius

    2012-06-01

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

  15. Launch Vehicle Demonstrator Using Shuttle Assets

    Science.gov (United States)

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

    2011-01-01

    The Marshall Space Flight Center Advanced Concepts Office (ACO) has the leading role for NASA s preliminary conceptual launch vehicle design and performance analysis. Over the past several years the ACO Earth-to-Orbit Team has evaluated thousands of launch vehicle concept variations for a multitude of studies including agency-wide efforts such as the Exploration Systems Architecture Study (ESAS), Constellation, Heavy Lift Launch Vehicle (HLLV), Heavy Lift Propulsion Technology (HLPT), Human Exploration Framework Team (HEFT), and Space Launch System (SLS). NASA plans to continue human space exploration and space station utilization. Launch vehicles used for heavy lift cargo and crew will be needed. One of the current leading concepts for future heavy lift capability is an inline one and a half stage concept using solid rocket boosters (SRB) and based on current Shuttle technology and elements. Potentially, the quickest and most cost-effective path towards an operational vehicle of this configuration is to make use of a demonstrator vehicle fabricated from existing shuttle assets and relying upon the existing STS launch infrastructure. Such a demonstrator would yield valuable proof-of-concept data and would provide a working test platform allowing for validated systems integration. Using shuttle hardware such as existing RS-25D engines and partial MPS, propellant tanks derived from the External Tank (ET) design and tooling, and four-segment SRB s could reduce the associated upfront development costs and schedule when compared to a concept that would rely on new propulsion technology and engine designs. There are potentially several other additional benefits to this demonstrator concept. Since a concept of this type would be based on man-rated flight proven hardware components, this demonstrator has the potential to evolve into the first iteration of heavy lift crew or cargo and serve as a baseline for block upgrades. This vehicle could also serve as a demonstration

  16. 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.

  17. 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.

  18. 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.

  19. 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.

  20. Implementation of Total Asset Management at the University of Tasmania.

    Science.gov (United States)

    Smith, Matt

    2002-01-01

    Describes the implementation of total asset management (TAM) at the University of Tasmania to better link physical resources management with the university's strategic planning. Discusses TAM's principles, objectives, and future direction. (EV)

  1. Asset Liability Management of Conventional and Islamic Banks in Malaysia

    Directory of Open Access Journals (Sweden)

    Yee Loon Mun

    2016-12-01

    Full Text Available The objective of the paper is to investigate the effect of asset liability management on the financial performance of 6 conventional and 6 Islamic banks in Malaysia during the period of 2010 to 2013. The variables used in the study are capital adequacy, asset quality, management efficiency, earnings quality, liquidity, size of bank and degree of risk aversion in relation to asset liability management to examine the return on equity (ROE, which is the measure of profitability of the banks. The quantitative analysis using correlation and regression analysis concluded that there is a positive relationship between asset liability management and the financial performance of the banks.DOI: 10.15408/aiq.v9i1.3334 

  2. 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.

  3. 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.

  4. 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...

  5. 76 FR 48152 - Commercial Building Asset Rating Program

    Science.gov (United States)

    2011-08-08

    ... Improvements. (8) National Commercial Building Energy Database. (9) Quality Assurance. (10) Potential for... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF ENERGY Office of Energy Efficiency and Renewable Energy Commercial Building Asset Rating Program AGENCY: Office...

  6. Approaches to Improving Asset Structure Management in Commercial Banks

    OpenAIRE

    Ahsan Akbar; Minhas Akbar

    2015-01-01

    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 dyna...

  7. 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...... stimulate innovation performance. However, family firms can fight this process by institutionalizing innovation within the family and the firm by means of family and corporate governance and through incentivizing key individuals in the innovation process....

  8. 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.

  9. Remarks on the measurement, valuation, and reporting of intangible assets

    OpenAIRE

    Baruch Lev

    2003-01-01

    This paper was presented at the conference "Economic Statistics: New Needs for the Twenty-First Century," cosponsored by the Federal Reserve Bank of New York, the Conference on Research in Income and Wealth, and the National Association for Business Economics, July 11, 2002. Intangible assets are both large and important. However, current financial statements provide very little information about these assets. Even worse, much of the information that is provided is partial, inconsistent, and ...

  10. THE PATTERNS OF THE INVESTMENT IN INTANGIBLE ASSETS

    OpenAIRE

    Ilona Bartuševičienė; Evelina Šakalytė

    2014-01-01

    Purpose– Scientific studies have concluded that investments in intangible assets increase future output and consumption for the entire economy the key point again is whether an increase in intangibles yields returns at some point in the future in the form of higher production efficiency, improved product quality and effectiveness. The challenge relies around the uncertainty of what are the components of intangible assets that should have more attention regarding the size of the investment. Va...

  11. Intellectual Capital and Intangible Assets Analysis and Valuation

    OpenAIRE

    Ion Anghel

    2008-01-01

    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...

  12. Family Assets and Liabilities in the Innovation Process

    DEFF Research Database (Denmark)

    Bennedsen, Morten; Foss, Nicolai Juul

    2015-01-01

    stimulate innovation performance. However, family firms can fight this process by institutionalizing innovation within the family and the firm by means of family and corporate governance and through incentivizing key individuals in the innovation process.......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...

  13. The Financial Audit Complexity of The Fixed Assets

    OpenAIRE

    Sorin Domnisoru; Sorin Vinatoru

    2008-01-01

    The paper shows concretely and in detail a part of what can means the auditing of fixed assets, the challenges and threatening of this field. For showing the complexity of the issue analysed, it is starting from the too much general and sinthetic of the broached issues into specialized literature, but whithout to minimize their importance. For tangible fixed assets, selected as basis of our research, there are presented the co-ordinates of the methodological approaching: the nuances of the fi...

  14. 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.

  15. The 1998 annual: Focusing on asset quality

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-12-31

    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.

  16. Evaluation of asset replacement strategies considering economic cycles: lessons from the machinery rental business

    NARCIS (Netherlands)

    Grössler, A.; Bivona, E.; Fuzhuang, L.

    2015-01-01

    In businesses with heavy capital investments, the effective management of assets is crucial, in particular in the fleet rental business where assets are the major source of revenues. One important question in this regard concerns the replacement of used assets and the purchase of new assets. Thus, t

  17. 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.

  18. 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...

  19. 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...

  20. Asset management: increasing the efficiency of network services; Asset Management: Effizienzsteigerung von Netz-Betriebsprozessen. Ohne Qualitaetseinschraenkung Anlagenrendite sichern

    Energy Technology Data Exchange (ETDEWEB)

    Dijk, R. van; Zwart, T. de [Kema T und D Consulting, Arnheim (Netherlands); Koenig, S. [Business Development Germany, Kema Consulting, Bonn (Germany)

    2003-02-10

    The author discuss the asset management aspects from a strategic modeling perspective, relating to improving network performance as well as services in a competitive power trading environment. It is shown how to establish and optimise a balance of costs, performance and risks. (orig./CB) [German] Die Verfasser beschreiben das Asset Management aus strategischer Perspektive in Bezug auf die Betriebsprozesse eines Netzbetreibers. Sie zeigen, wie die praktische Optimierung des Gleichgewichts zwischen Kosten, Performance und Risiken einfach und zweckmaessig konkretisiert werden kann. (orig.)

  1. 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)

  2. 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

  3. 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

  4. Cost approach of health care entity intangible asset valuation.

    Science.gov (United States)

    Reilly, Robert F

    2012-01-01

    In the valuation synthesis and conclusion process, the analyst should consider the following question: Does the selected valuation approach(es) and method(s) accomplish the analyst's assignment? Also, does the selected valuation approach and method actually quantify the desired objective of the intangible asset analysis? The analyst should also consider if the selected valuation approach and method analyzes the appropriate bundle of legal rights. The analyst should consider if there were sufficient empirical data available to perform the selected valuation approach and method. The valuation synthesis should consider if there were sufficient data available to make the analyst comfortable with the value conclusion. The valuation analyst should consider if the selected approach and method will be understandable to the intended audience. In the valuation synthesis and conclusion, the analyst should also consider which approaches and methods deserve the greatest consideration with respect to the intangible asset's RUL. The intangible asset RUL is a consideration of each valuation approach. In the income approach, the RUL may affect the projection period for the intangible asset income subject to either yield capitalization or direct capitalization. In the cost approach, the RUL may affect the total amount of obsolescence, if any, from the estimate cost measure (that is, the intangible reproduction cost new or replacement cost new). In the market approach, the RUL may effect the selection, rejection, and/or adjustment of the comparable or guideline intangible asset sale and license transactional data. The experienced valuation analyst will use professional judgment to weight the various value indications to conclude a final intangible asset value, based on: The analyst's confidence in the quantity and quality of available data; The analyst's level of due diligence performed on that data; The relevance of the valuation method to the intangible asset life cycle stage and

  5. THE PATTERNS OF THE INVESTMENT IN INTANGIBLE ASSETS

    Directory of Open Access Journals (Sweden)

    Ilona Bartuševičienė

    2014-08-01

    Full Text Available Purpose– Scientific studies have concluded that investments in intangible assets increase future output and consumption for the entire economy the key point again is whether an increase in intangibles yields returns at some point in the future in the form of higher production efficiency, improved product quality and effectiveness. The challenge relies around the uncertainty of what are the components of intangible assets that should have more attention regarding the size of the investment. Various economies use different approaches to assess their investment strategies, therefore the purpose of this article is to explore the investment in intangible assets patterns in OECD countries as well as Baltic States. Design/methodology/approach – Scientific literature review, comparative and statistical data analysis. Findings – According to the statistics department of Lithuania, investment in Research and Development as a share of Gross Domestic Product in Lithuania has increased starting 0,79 perc. back in 2006 up to 0,9 perc. in 2012. Konstatinos et all (2013 defended, that the size of the investment in R&D is not enough to get a grasp of the intangible asset essence and impact in the economy. Corado (2012 has adopted a model to assess the intangible investment potential valuation in Organization for Economic Co-operation and Development countries, where intangible assets are classified based on three categories: computerized information, intellectual property and economic competencies. The objective of this paper is to explore whether it is possible to apply adopted Corrado model in Lithuania. Research limitations/implications – Statistics department of Lithuania measures the percentage of investment in Research and Development as a share of Gross Domestic Product. This indicator alone should not be used to identify the investment level in intangible assets in Lithuania, therefore adopted model, which includes various indicators, should be

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

    Directory of Open Access Journals (Sweden)

    Crisan Sorana Adina

    2013-07-01

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

  7. Key determinants of managing the marketing asset of global companies

    Directory of Open Access Journals (Sweden)

    Tatyana Tsygankova

    2016-12-01

    Full Text Available As a result of organization and summarization of key concepts of evolution of the marketing tools of global companies, the authors determined the role of the marketing assets in the system of modern marketing management (as a dialectically higher stage of development of the analyzed tools, which will allow overcoming the antagonistic contradiction of “P- and C-vectors” of their development. The article identified the optimal set of key elements of the system of marketing assets, which are the brand, customer loyalty, reputation, network cooperation, marketing strategy, internal marketing, marketing information system and marketing innovation. Due to correlation and regression analysis of the impact of each system elements on performance of global companies, the model of the "marketing asset octagon" was built as an integrative management tool. Also, as a result of construction of the said model, the authors identified the most profitable marketing assets, return on investment and development of competencies in the field of efficient management will bring the highest profit to the company. On the basis of summarizing the regional and branch features of managing the disparate elements of the marketing assets of global companies, the key regional and sectoral priorities of formation, development and improvement of existing concepts of the international marketing management were identified, particularly in terms of building an author’s integrative octagon model.

  8. The Diversification Benefits of Including Carbon Assets in Financial Portfolios

    Directory of Open Access Journals (Sweden)

    Yinpeng Zhang

    2017-03-01

    Full Text Available Carbon allowances traded in the EU-Emission Trading Scheme (EU-ETS were initially designed as an economic motivation for efficiently curbing greenhouse as emissions, but now it mimics quite a few characteristics of financial assets, and have now been used as a candidate product in building financial portfolios. In this study, we examine the time-varying correlations between carbon allowance prices with other financial indices, during the third phase of EU-ETS. The results show that, at the beginning of this period, carbon price was still strongly corrected with other financial indices. However, this connection was weakened over time. Given the relative independence of carbon assets from other financial assets, we argue for the diversification benefits of including carbon assets in financial portfolios, and building such portfolios, respectively, with the traditional global minimum variance (GMV strategy, the mean-variance-OGARCH (MV-OGARCH strategy, and the dynamic conditional correlation (DCC strategy. It is shown that the portfolio built with the MV-OGARCH strategy far out-performs the others and that including carbon assets in financial portfolios does help reduce investment risks.

  9. 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.

  10. 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.

  11. Optimizing the Banking Activity Using Assets & Liabilities Management

    Directory of Open Access Journals (Sweden)

    Vasile Dedu

    2008-10-01

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

  12. 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.

  13. 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.

  14. 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

  15. [Methodology for health assets mapping in a community].

    Science.gov (United States)

    Botello, Blanca; Palacio, Sergio; García, Mercedes; Margolles, Mario; Fernández, Federico; Hernán, Mariano; Nieto, Javier; Cofiño, Rafael

    2013-01-01

    Within the development of a regional strategy for community health engagement in Asturias (Spain), and connected to the Health Observatory, we carried out a methodology to initiate the mapping of health assets at a local level. This methodology begins with a description of the most formal resources and of the pre-existing community activities, together with a characterization of the most informal, personal and symbolic health resources. We introduce our tools, grouped for the development of mapping, and explain their connection with the theoretical models of salutogenesis, asset model and community development.

  16. 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....

  17. Latent Utility Shocks in a Structural Empirical Asset Pricing Model

    DEFF Research Database (Denmark)

    Christensen, Bent Jesper; Raahauge, Peter

    We consider a random utility extension of the fundamental Lucas (1978) equilibriumasset pricing model. The resulting structural model leads naturally to a likelihoodfunction. We estimate the model using U.S. asset market data from 1871 to2000, using both dividends and earnings as state variables....... We find that current dividendsdo not forecast future utility shocks, whereas current utility shocks do forecastfuture dividends. The estimated structural model produces a sequence of predictedutility shocks which provide better forecasts of future long-horizon stock market returnsthan the classical...... dividend-price ratio.KEYWORDS: Randomutility, asset pricing, maximumlikelihood, structuralmodel,return predictability...

  18. 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.

  19. 16 CFR 801.15 - Aggregation of voting securities and assets the acquisition of which was exempt.

    Science.gov (United States)

    2010-01-01

    ... entity controlled by “Z.” M's assets consist of $150 million worth of producing coal reserves plus less than $50 million (as adjusted) worth of non-exempt assets and N's assets consist of a producing coal... of N will exceed the limitation for coal reserves or for non-exempt assets. Since the assets of...

  20. A decision support model to determine the critical success factors of asset management services

    Directory of Open Access Journals (Sweden)

    Jooste, Johannes Lodewyk

    2015-05-01

    Full Text Available Business-to-business services relating to physical asset management play an increasingly important role in industry. This is in the context of the current pressures that organisations experience in realising optimal value from their assets. Complying with asset management standards such as ISO 55000 contributes towards the importance of these services. This paper summarises the findings from a study identifying the critical success factors for asset management services, and presents a decision support model that provides the asset management community with access to these factors for decision-making and for improving asset management services.

  1. 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

  2. 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....

  3. 18 CFR 35.18 - Asset retirement obligations.

    Science.gov (United States)

    2010-04-01

    ... obligation on its books must provide a schedule, as part of the supporting work papers, identifying all cost components related to the asset retirement obligations that are included in the book balances of all accounts..., with its filing under § 35.12 or § 35.13, a detailed study supporting the amounts proposed to...

  4. 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...

  5. 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...

  6. 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...

  7. Turkey’s Soft Power Assets in Peacekeeping Operations

    Science.gov (United States)

    2015-06-01

    accepted the sovereignty of a neutral Afghan state and completed its withdrawal from Afghanistan in 1989. The total casualties of Soviet invasion were... POWER ASSETS IN PEACEKEEPING OPERATIONS by Nuri Sener June 2015 Thesis Advisor: Victoria Clement Second Reader: Tristan James Mabry THIS...

  8. 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.

  9. 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.

  10. 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,…

  11. How Hybrid Organizations Turn Antagonistic Assets into Complementarities

    DEFF Research Database (Denmark)

    Hockerts, Kai

    2015-01-01

    This article focuses on people excluded from traditional markets as employees, producers, or consumers on the grounds that they lack the appropriate skills. It describes the processes through which these perceived liabilities can be overcome by so-called hybrid organizations. Hybrids pursue expli...... for complementarities, and by creating demands for antagonistic assets, or by using partnerships....

  12. 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

  13. 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…

  14. 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…

  15. 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.

  16. Risks, Assets, and Negative Health Behaviors among Arkansas' Hispanic Adolescents

    Science.gov (United States)

    Fitzpatrick, Kevin M.; Choudary, Wendie; Kearney, Anne; Piko, Bettina F.

    2013-01-01

    This study examined the relationship between risk, assets, and negative health behaviors among a large sample of Hispanic adolescents. Data were collected from over 1,000 Hispanic youth in grades 6, 8, 10, and 12 attending school in a moderate size school district in Northwest Arkansas. Logistic regression models examined the variation in the odds…

  17. The value of using schools as community assets for health.

    Science.gov (United States)

    Caan, W; Cassidy, J; Coverdale, G; Ha, M-A; Nicholson, W; Rao, M

    2015-01-01

    In planning, designing, procuring and ensuring delivery of improved services ('commissioning') for the school age population, the outcomes should be students who are healthy to learn and who learn to be healthy. Intuitively, linking education and health development together within the wider learning environment seems a good start to planning school health. However there has been a shortage of either theoretical models that can span different settings or experimental research that demonstrates improved community health. Is there evidence that the wider learning environment provided in a school is valuable in improving health? An initial scoping exercise identified domains of health where there was a promise of health gain. International literature on school health outcomes using the framework of Asset-Based Community Development (ABCD) has been reviewed. It was found that research on a variety of interventions was relevant to schools as an asset for public health. Effective areas for health gain were identified for local planning and evaluation using this community model. However, none of the studies reviewed was originally designed to test schools as assets and most of the research lacked methodological rigour, especially regarding children in low income countries. The ABCD model could help national governments develop resources for both education and health, but there is a global need to generate better quality evidence. Then people who commission for their local communities can make more effective use of these multifaceted assets to improve health and education outcomes for children.

  18. 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

  19. 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…

  20. 76 FR 47296 - Transit Asset Management (TAM) Pilot Program Funds

    Science.gov (United States)

    2011-08-04

    ... agencies. Transit Asset Management Selections State Recipient Allocation CA Peninsula Corridor Joint Powers... and Metropolitan Offices Mary E. Mello, Regional Robert C. Patrick, Regional Administrator, Region 1--Boston, Administrator, Region 6--Ft. Kendall Square, 55 Broadway, Suite Worth, 819 Taylor Street,...

  1. 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

  2. 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...

  3. 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

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

    Science.gov (United States)

    Jochec, Marek

    2009-01-01

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

  5. 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,…

  6. 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…

  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) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE SURETY COMPANIES DOING...

  8. 31 CFR 223.7 - Investment of capital and assets.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Investment of capital and assets. 223.7 Section 223.7 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE SURETY COMPANIES DOING...

  9. Corporate Sustainability, Intangible Assets Accumulation and Competitive Advantage

    OpenAIRE

    Perrini, Francesco; Vurro, Clodia

    2010-01-01

    The article bridges corporate sustainability (CS) and intangibles, deepening the mechanisms linking specific stakeholder-related CS policies and practices to intangible asset accumulation and competitive outcomes. The implementation of CS strategies, practices and processes strengthens company ability to identify, protect and give value to inimitable resources, stimulating the development of intangibles related to human capital, innovation and knowledge, culture and reputation.

  10. Asset Markets, General Equilibrium and the Neutrality of Money

    OpenAIRE

    Christophe Chamley; Heracles M. Polemarchakis

    1981-01-01

    When government liabilities (including money) are held in private portfolios only as stores of value, and do not provide additional benefits (as liquidity services), the real variables in an economy with uncertainty are not affected by the government's trading in assets. There are also policies which alter the money supply through taxes or subsidies, and affect the price of money without changing real variables.

  11. 75 FR 70966 - Transit Asset Management (TAM) Pilot Program

    Science.gov (United States)

    2010-11-19

    ... inventories and improve the level of asset management in the public transportation industry as a whole, FTA is... evaluations. Proposers will be required to assist FTA in reporting the TAM pilot program's progress to... available commercial product if new. 5. Any proposed software system must explicitly state what data...

  12. 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...

  13. Rural Schools and Communities Getting Better Together: Building on Assets.

    Science.gov (United States)

    Tompkins, Rachel B.

    2003-01-01

    Research reports from multiple studies in dozens of states have shown there are advantages to learning in small schools. To take advantage of the assets of rural schools and small-town survival, new state policy directions will be necessary in finance, facilities, teacher pay, preparation, and professional and curriculum development. (Contains 10…

  14. CNPC Speeds up Overseas Oil Assets Purchase Plan

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    @@ China National Petroleum Corporation(CNPC),the country's largest oil and gas producer,will speed up overseas acquisitions in regions such as Africa,Asia-Pacific and South America this year.Currently,the company is in talks with foreign partners for several deals because the relatively low prices of overseas assets this year have offered the company unprecedented opportunities for acquisition.

  15. 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.

  16. Financial Capability and Asset Building in the Curricula: Student Perceptions

    Science.gov (United States)

    Loke, Vernon; Birkenmaier, Julie; Hageman, Sally A.

    2017-01-01

    Although social work education competencies include economic justice, and practice includes addressing client finances and assets, social work curricula lack an emphasis on these topics. Little is known about students' perceptions of the relevancy of this information or how well their program is preparing them for contemporary practice. This study…

  17. 18 CFR 367.2300 - Account 230, Asset retirement obligations.

    Science.gov (United States)

    2010-04-01

    ... GAS ACT Balance Sheet Chart of Accounts Other Noncurrent Liabilities § 367.2300 Account 230, Asset... retirement obligations. 367.2300 Section 367.2300 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY REGULATIONS UNDER THE PUBLIC UTILITY HOLDING COMPANY ACT OF...

  18. Net foreign asset (com)position : Does financial development matter?

    NARCIS (Netherlands)

    Vermeulen, Robert; de Haan, Jakob

    2014-01-01

    We investigate the relationship between a country's domestic financial development and the (composition of its) net foreign asset position using a pooled mean group estimator and data for 50 countries for the 1970-2007 period. The results show that financial development reduces a country's long-run

  19. Are your asset data as good as you think? Conducting a comprehensive census of built assets to improve urban population health.

    Science.gov (United States)

    Makelarski, Jennifer A; Lindau, Stacy Tessler; Fabbre, Vanessa D; Grogan, Colleen M; Sadhu, Eugene M; Silverstein, Jonathan C; Tran, Thuy Tien T; Van Haitsma, Martha; Whitaker, Eric; Johnson, Daniel

    2013-08-01

    Secondary data sources are widely used to measure the built asset environment, although their validity for this purpose is not well-established. Using community-engaged research methodology, this study conducted a census of public-facing, built assets via direct observation and then tested the performance of these data against widely used secondary datasets. After engaging community organizations, a community education campaign was implemented. Using web-enabled cell phones and a web-based application prepopulated with the secondary data, census workers verified, modified, and/or added assets using street-level observation, supplementing data with web searches and telephone calls. Data were uploaded to http://www.SouthSideHealth.org . Using direct observation as the criterion standard, the sensitivity of secondary datasets was calculated. Of 5,773 assets on the prepopulated list, direct observation of public-facing assets verified 1,612 as operating; another 653 operating assets were newly identified. Sensitivity of the commercial list for nonresidential, operating assets was 61 %. Using the asset census as the criterion standard, secondary datasets were incomplete and inaccurate. Comprehensive, accurate built asset data are needed to advance urban health research, inform policy, and improve individuals' access to assets.

  20. 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...

  1. 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....

  2. Leading beyond the bottom line: organizational assets for the new economy. 2.

    Science.gov (United States)

    Schenke, R; Berkowitz, E; Gaintner, J R; Hickey, M E; Hodge, R H; Ludden, J; Randolph, L M

    2000-01-01

    Organizations are created to aggregate resources to accomplish some purpose, be it to provide health care, raise a family, or build cars. These resources are assets. A manager has a fiduciary responsibility, by practice, and, in many cases, by law, to make the best use of those assets. Traditionally, we've evaluated the use of assets through financial statements. The troublesome aspect of these financial statements is that they were designed to measure only those things that can be counted simply--financial and physical assets. But our world has moved from an industrial, manufacturing age to an information, service economy and we are learning that intangible assets are as powerful--potentially more powerful--in creating value as are tangible assets. Recognizing the intangible asset value of employees, customers, and the community is the challenge in this new service economy. Effective health care leaders need to leverage and manage all of an organization's assets.

  3. DCC Digital Curation Manual: Instalment on Investment in an Intangible Asset

    OpenAIRE

    Hunter, Laurie

    2006-01-01

    Instalment on the role of digital information as an intangible asset. From an economist’s point of view, this instalment explores some key properties of digital assets and digital preservation and argues the case that digital information should be classified as an intangible asset. Intangible assets (and investment) have recently been the subject of increased attention from economists, business analysts and accountancy and financial experts. This reflects the recognition that c...

  4. 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.

  5. 75 FR 74622 - Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets; Expected...

    Science.gov (United States)

    2010-12-01

    ... table is needed in order to compute the value of early retirement benefits and, thus, the total value of... plan's underfunding. Under Sec. 4044.51(b) of the asset allocation regulation, early retirement... entitled to early retirement benefits. Appendix D of part 4044 contains tables to be used in...

  6. 78 FR 72018 - Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets; Expected...

    Science.gov (United States)

    2013-12-02

    ... table is needed in order to compute the value of early retirement benefits and, thus, the total value of.... Under Sec. 4044.51(b) of the asset allocation regulation, early retirement benefits are valued based on... retirement benefits. Appendix D of part 4044 contains tables ] to be used in determining the expected...

  7. 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....

  8. 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...

  9. Youth Assets and Sexual Activity: Differences Based on Race/Ethnicity

    Science.gov (United States)

    Tolma, Eleni L.; Vesely, Sara K.; Oman, Roy F.; Aspy, Cheryl B.; Beebe, Laura; Rodine, Sharon; Marshall, LaDonna; Fluhr, Janene

    2008-01-01

    Race/ethnicity has been associated with the prevalence of sexual activity among youth as well as with youth assets. Research has also shown that youth assets are associated with youth abstinence. However, very few studies have examined whether the relationship between youth assets and sexual activity might differ based on race/ethnicity. The study…

  10. 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…

  11. 76 FR 47947 - Re-Proposal of Shelf Eligibility Conditions for Asset-Backed Securities

    Science.gov (United States)

    2011-08-05

    ... Manager and Repurchase Request Dispute Resolution Provisions (c) Investor Communication 2. Revised and Re... designed to improve investor protection and promote more efficient asset-backed markets. \\10\\ See Asset... require asset-backed issuers to provide investors with more time to consider ]...

  12. 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…

  13. 77 FR 48514 - Water Asset Management, Inc.; Notice of Preliminary Permit Application Accepted for Filing and...

    Science.gov (United States)

    2012-08-14

    ... Federal Energy Regulatory Commission Water Asset Management, Inc.; Notice of Preliminary Permit... June 6, 2012, Water Asset Management, Inc., New York, filed an application for a preliminary permit... Winnemucca Farms West site project.\\1\\ \\1\\ Water Asset Management, Inc. Winnemucca Farms West Pump...

  14. 77 FR 48513 - Water Asset Management, Inc.; Notice of Preliminary Permit Application Accepted for Filing and...

    Science.gov (United States)

    2012-08-14

    ... Energy Regulatory Commission Water Asset Management, Inc.; Notice of Preliminary Permit Application..., 2012, Water Asset Management, Inc., New York, filed an application for a preliminary permit, pursuant... Farms East site project.\\1\\ \\1\\ Water Asset Management, Inc., Winnemucca Farms East Pump Storage...

  15. 77 FR 43868 - Credit Suisse Asset Management, LLC, et al.; Notice of Application

    Science.gov (United States)

    2012-07-26

    ... COMMISSION Credit Suisse Asset Management, LLC, et al.; Notice of Application July 20, 2012. AGENCY... instruments. Applicants: Credit Suisse Asset Management, LLC (the ``Adviser''), Credit Suisse Commodity Return.... Applicants: c/o Ms. Joanne Doldo, Credit Suisse Asset Management, LLC, One Madison Avenue, New York, NY...

  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. 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...

  18. 77 FR 19678 - Cooperative Research and Development Agreement: Asset Tracking and Reporting Technology

    Science.gov (United States)

    2012-04-02

    ... necessary approvals and access for their installation of the asset tracking and non-verbal communications... interest in asset tracking and non-verbal communications exchange technology; and (2) capability to provide.... Presently, the Coast Guard has no plan to acquire asset tracking and non-verbal communications...

  19. 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

  20. Revitalising the evidence base for public health: an assets model.

    Science.gov (United States)

    Morgan, Antony; Ziglio, Erio

    2007-01-01

    Historically, approaches to the promotion of population health have been based on a deficit model. That is, they tend to focus on identifying the problems and needs of populations that require professional resources and high levels of dependence on hospital and welfare services. These deficit models are important and necessary to identify levels of needs and priorities. But they need to be complemented by some other perspectives as they have some drawbacks. Deficit models tend to define communities and individuals in negative terms, disregarding what is positive and works well in particular populations. In contrast 'assets' models tend to accentuate positive capability to identify problems and activate solutions. They focus on promoting salutogenic resources that promote the self esteem and coping abilities of individuals and communities, eventually leading to less dependency on professional services. Much of the evidence available to policy makers to inform decisions about the most effective approaches to promoting health and to tackling health inequities is based on a deficit model and this may disproportionately lead to policies and practices which disempower the populations and communities who are supposed to benefit from them. An assets approach to health and development embraces a 'salutogenic' notion of health creation and in doing so encourages the full participation of local communities in the health development process. The asset model presented here aims to revitalise how policy makers, researchers and practitioners think and act to promote a more resourceful approach to tackling health inequities. The model outlines a systematic approach to asset based public health which can provide scientific evidence and best practice on how to maximise the stock of key assets necessary for promoting health. Redressing the balance between the assets and deficit models for evidence based public health could help us to unlock some of the existing barriers to effective

  1. 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

  2. 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 ...

  3. Asset Management System through the design of a Jadex Agent System

    Directory of Open Access Journals (Sweden)

    Javier CARBÓ

    2016-11-01

    Full Text Available In this paper we have designed an agent system using JADEX platform in order to facilitate the asset management of an institution with several types of assets with some unknown similarities, and a high number of operators. Such environment would justify the use of a recommendation system that would provide an useful plan to be applied over an asset generated from previous maintenance operations hold over other assets. Here we provide the full design of such agent system, including the ontology, beliefs, plans, protocols and goals. This design has been implemented within GAIA: an information & asset management solution developed by Altran.

  4. 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.

  5. 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.

  6. Limit Laws in Transaction-Level Asset Price Models

    CERN Document Server

    Aue, Alexander; Hurvich, Clifford M; Soulier, Philippe

    2011-01-01

    We consider pure-jump transaction-level models for asset prices in continuous time, driven by point processes. In a bivariate model that admits cointegration, we allow for time deformations to account for such effects as intraday seasonal patterns in volatility, and non-trading periods that may be different for the two assets. We also allow for asymmetries (leverage effects). We obtain the asymptotic distribution of the log-price process. We also obtain the asymptotic distribution of the ordinary least-squares estimator of the cointegrating parameter based on data sampled from an equally-spaced discretization of calendar time, in the case of weak fractional cointegration. For this same case, we obtain the asymptotic distribution for a tapered estimator under more

  7. Index Tracking with Control on the Number of Assets

    Directory of Open Access Journals (Sweden)

    Leonardo Riegel Sant'Anna

    2014-06-01

    Full Text Available Index tracking is a passive investment strategy, which aims at generating portfolios to reproduce a specific market index’s performance. This article proposes a model for a index tracking problem with control on the number of assets in the portfolio, which corresponds to a restriction in transaction costs. The model is applied to Ibovespa (sample: 67 stocks from January/2009 to July/2012. Portfolios were formed without limiting the amount of stocks and limiting this amount to 40, 30 and 20 stocks, with rebalancing periods of 20, 40 and 60 trading days. The results were satisfactory especially for the 60 days rebalancing period, in which transaction costs become lower due to the longer rebalancing period. We also verified that changes in Cplex parameters didn’t influence the results especially in relation to the computational times. Therefore, we also conclude about the need of using heuristic approaches to form portfolios with smaller amounts of assets.

  8. 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.

  9. Enterprise Digital Asset Management System Pilot: Lessons Learned

    Directory of Open Access Journals (Sweden)

    Yong-Mi Kim

    2007-12-01

    Full Text Available Enterprise digital asset management (DAM systems are beginning to be explored in higher education, but little information about their implementation issues is available. This article describes the University of Michigan’s investigation of managing and retrieving rich media assets in an enterprise DAM system. It includes the background of the pilot project and descriptions of its infrastructure and metadata schema. Two case studies are summarized—one in healthcare education, and one in teacher education and research. Experiences with five significant issues are summarized: privacy, intellectual ownership, digital rights management, uncataloged materials backlog, and user interface and integration with other systems.

  10. 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.

  11. 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.

  12. D Data Acquisition for Indoor Assets Using Terrestrial Laser Scanning

    Science.gov (United States)

    Lee, S. Y.; Majid, Z.; Setan, H.

    2013-09-01

    The newly development of technology clearly shows an improvement of three-dimension (3D) data acquisition techniques. The requirements of 3D information and features have been obviously increased during past few years in many related fields. Generally, 3D visualization can provide more understanding and better analysis for making decision. The need of 3D GIS also pushed by the highly demand of 3D in geospatial related applications as well as the existing fast and accurate 3D data collection techniques. This paper focuses on the 3D data acquisition by using terrestrial laser scanning. In this study, Leica C10 terrestrial laser scanner was used to collect 3D data of the assets inside a computer laboratory. The laser scanner device is able to capture 3D point cloud data with high speed and high accuracy. A series of point clouds was produced from the laser scanner. However, more attention must be paid during the point clouds data processing, 3D modelling, and analysis of the laser scanned data. Hence, this paper will discuss about the data processing from 3D point clouds to 3D models. The processing of point cloud data divided into pre-processing (data registration and noise filter) and post-processing (3D modelling). During the process, Leica Cyclone 7.3 was used to process the point clouds and SketchUp was used to construct the 3D asset models. Afterward, the 3D asset models were exported to multipatch geometry format, which is a 3D GIS-ready format for displaying and storing 3D model in GIS environment. The final result of this study is a set of 3D asset models display in GIS-ready format since GIS can provides the best visual interpretation, planning and decision making process. This paper shows the 3D GIS data could be produced by laser scanning technology after further processing of point cloud data.

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

    OpenAIRE

    Li, Xiao-Juan

    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 prec...

  14. On asset pricing and the equity premium puzzle

    OpenAIRE

    2000-01-01

    This thesis was submitted for the degree of Doctor of Philosophy and awarded by Brunel University. Presented here are consumption and production related asset pricing models which seek to explain stock market behaviour through the stock premium over risk-free bonds and to do so using parameter values consistent with theory. Our results show that there are models capable of explaining stock market behaviour. For the consumption-based model, we avoid many of the suggestions to artificiall...

  15. A Strategic Assessment of Infrastructure Asset-Management Modeling

    Science.gov (United States)

    2013-12-01

    facilities and infrastructure assets, ranging from dormitories to aircraft hangars to warehouses.27 This infra- structure, which supports a myriad of...College and University Business Officers, Managing the Facili- ties Portfolio (Washington, DC: National Academy Press, 1995), 12–16. 49. Maunsell Project...Force, 2011), 2. Lt Col William E. Sitzabee, PhD, PE, USAF Lieutenant Colonel Sitzabee (BSCE, Norwich University ; MS, Air Force Institute of

  16. 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.

  17. 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.

  18. Intangible assets and national income accounting: measuring a scientific revolution

    OpenAIRE

    Leonard I. Nakamura

    2009-01-01

    In this paper the author relates the measurement of intangibles to the project of measuring the sources of growth. He focuses on three related and difficult areas of the measurement of national income: the measurement of new goods, the deflation of intangible investment, and the divergence between the social and private valuations of intangible assets. The author argues that the economic theory and practice underlying measurement of these items is currently controversial and incomplete, and h...

  19. 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.

  20. Intangible asset valuation, damages, and transfer price analyses in the health care industry.

    Science.gov (United States)

    Reilly, Robert F

    2010-01-01

    Most health care industry participants own and operate intangible assets. These intangible assets can be industry-specific (e.g., patient charts and records, certificates of need, professional and other licenses), or they can be general commercial intangible assets (e.g., trademarks, systems and procedures, an assembled workforce). Many industry participants have valued their intangible assets for financial accounting or other purposes. This article summarizes the intangible assets that are common to health care industry participants. This article describes the different types of intangible asset analyses (including valuation, transfer price, damages estimates, etc.), and explains the many different transaction, accounting, taxation, regulatory, litigation, and other reasons why industry participants may wish to value (or otherwise analyze) health care intangible assets.

  1. 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.

  2. 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.

  3. 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.

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

    Science.gov (United States)

    Kivits, Robbert Anton; Furneaux, Craig

    2013-11-10

    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.

  5. 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.

  6. 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.

  7. 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.

  8. A study on intangible assets disclosure: An evidence from Indian companies

    Directory of Open Access Journals (Sweden)

    Subash Chander

    2011-04-01

    Full Text Available Purpose: India has emerged at the top of the pedestal in the present knowledge-driven global marketplace, where intangible assets hold much more value than physical assets. The objective of this study is to determine the extent of intangible asset disclosure by companies in IndiaDesign/methodology/approach: This study relates to the years 2003-04 and 2007-08 and is based on 243 companies selected from BT-500 companies. The annual reports of these companies were analyzed using content analysis so as to examine the level of disclosure of intangible asset information. Intangible assets disclosure index based on the intangible assets framework as given by Sveiby (1997 and as used and tested by Guthrie and Petty (2000 and many other subsequent studies was modified and used for this study. Findings: The results showed that external capital is the most disclosed intangible asset category with a disclosure score of 37.90% and 35.83% in the years 2003-04 and 2007-08 respectively. Infosys technologies Ltd. is the company with the highest intangible assets reporting for both the years (2003-04: 68.52%, 2007-08: 81.48%. Further the reporting of intangible assets is unorganized and unsystematic. There is lack of appropriate framework for disclosing intangible assets information in the annual reports.Originality/value: This is perhaps the first comprehensive study on intangible assets disclosure based on a large sample of the companies from India. Literature reveals that now the intangible assets play relatively an increasingly significant role in the decision making process of various users of corporate reports. This study shows that the overall disclosure of intangible assets is low in India. Thus this study may be of value to the corporate sector in India to explore the areas of intangible assets disclosure so that they can provide useful and relevant information to the users of annual reports.

  9. 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...

  10. Selection of asset investment models by hospitals: examination of influencing factors, using Switzerland as an example.

    Science.gov (United States)

    Eicher, Bernhard

    2016-10-01

    Hospitals are responsible for a remarkable part of the annual increase in healthcare expenditure. This article examines one of the major cost drivers, the expenditure for investment in hospital assets. The study, conducted in Switzerland, identifies factors that influence hospitals' investment decisions. A suggestion on how to categorize asset investment models is presented based on the life cycle of an asset, and its influencing factors defined based on transaction cost economics. The influence of five factors (human asset specificity, physical asset specificity, uncertainty, bargaining power, and privacy of ownership) on the selection of an asset investment model is examined using a two-step fuzzy-set Qualitative Comparative Analysis. The research shows that outsourcing-oriented asset investment models are particularly favored in the presence of two combinations of influencing factors: First, if technological uncertainty is high and both human asset specificity and bargaining power of a hospital are low. Second, if assets are very specific, technological uncertainty is high and there is a private hospital with low bargaining power, outsourcing-oriented asset investment models are favored too. Using Qualitative Comparative Analysis, it can be demonstrated that investment decisions of hospitals do not depend on isolated influencing factors but on a combination of factors. Copyright © 2016 John Wiley & Sons, Ltd.

  11. Cultural Assets and Substance Use Among Hispanic Adolescents.

    Science.gov (United States)

    Ma, Mindy; Malcolm, Lydia R; Díaz-Albertini, Kristine; Sánchez, Juan Carlos; Simpson, Brett; Cortes, Lissette; Kibler, Jeffrey L

    2017-04-01

    Research on cultural factors and substance use among Hispanic adolescents has focused primarily on acculturation, while specific core Hispanic values and attributes have received minimal attention. The objective of the current study was to examine the relationship between traditional Hispanic cultural assets and substance use among adolescents. A purposive sample of 225 Hispanic adolescents (47% male) aged 13 to 16 years were recruited from community venues (e.g., park, school, mall) in a predominately Hispanic neighborhood. Participants completed a survey to assess cultural factors (familism, simpatía, respeto, and ethnic pride) and substance use in the past 3 months (alcohol and drug). Point-biserial correlations revealed significant associations of alcohol and drug use with greater familism (family connectedness), simpatía (interpersonal relationship harmony), and respeto (respect). Two stepwise binary logistic regressions were performed to evaluate the independent association between the cultural factors and substance use. The interaction of gender with each cultural factor was examined in both analyses. Simpatía emerged as the only cultural factor independently associated with alcohol use. Greater simpatía was related to abstention from alcohol. Both simpatía and familism independently correlated with drug use. Stronger endorsements of simpatía and familism were associated with absence from drug use. Interactions between cultural factors and gender were not observed. Simpatía emerged as the strongest cultural asset that may confer protection against substance use. If replicated, our results suggest substance prevention programs targeting Hispanic adolescents may benefit from the inclusion of cultural assets in the intervention paradigm.

  12. Marketing assets: Relating brand equity and customer equity

    Directory of Open Access Journals (Sweden)

    Jaime Romero

    2016-03-01

    Full Text Available 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 alternatives explanations regarding the link between brand equity and customer equity. In order to estimate these models we employ Structural Equations Modelling. We measure model variables using data collected through a survey to marketing managers of services companies that operate in Spain. We compare these four research models in terms of explanatory power and goodness of fit. Findings: Our results indicate that the models that correspond to the simultaneity approach have a higher explanatory power and goodness of fit than the models that suggest that brand equity is an antecedent of customer equity, thus supporting that these intangible assets are built by marketing activities at the same time. Research limitations/implications: Our results recommend caution when interpreting previous research about the effects of brand (customer equity, as they might indeed correspond to customer (brand management. Similarly, future research focusing on customer and brand management need to take into account both managerial areas in their studies. Practical implications: From a practitioners’ point of view, our findings suggest adopting a brand-customer portfolio approach to enhance company profitability. Similarly, we derive implications for firm valuation processes, which incorporate brand equity and customer equity in their calculations. Originality/value: We empirically study the relationship between brand equity and customer equity, while previous research has analyzed

  13. Life-cycle asset allocation with focus on retirement savings

    DEFF Research Database (Denmark)

    Konicz, Agnieszka Karolina

    costs, taxes, and uncertain labor income. The problem is solved using a combination of a multi-stage stochastic linear programming (SLP) model and stochastic optimal control, such that the practical application is emphasized. Both solutions are integrated into the SLP formulation. The decisions......We consider optimal asset allocation of a pension saver with uncertain lifetime. The objective is to maximize the expected utility of the retirement savings. The model accounts for characteristics of a pension saver given by her mortality risk, risk attitude, type of retirement contract, trading...

  14. 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.

  15. A path integral approach to asset-liability management

    Science.gov (United States)

    Decamps, Marc; De Schepper, Ann; Goovaerts, Marc

    2006-05-01

    Functional integrals constitute a powerful tool in the investigation of financial models. In the recent econophysics literature, this technique was successfully used for the pricing of a number of derivative securities. In the present contribution, we introduce this approach to the field of asset-liability management. We work with a representation of cash flows by means of a two-dimensional delta-function perturbation, in the case of a Brownian model and a geometric Brownian model. We derive closed-form solutions for a finite horizon ALM policy. The results are numerically and graphically illustrated.

  16. 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.

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

    DEFF Research Database (Denmark)

    Geyer, Alois; Hanke, Michael; Weissensteiner, Alex

    2013-01-01

    We compare two popular scenario tree generation methods in the context of financial optimization: moment matching and scenario reduction. Using a simple problem with a known analytic solution, moment matching-when ensuring absence of arbitrage-replicates this solution precisely. On the other hand......, 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....

  18. On the Treatment of Intangible Assets in National Accounting

    OpenAIRE

    Sakuma, Itsuo

    2008-01-01

    The purpose of this paper is to give some suggestions on the treatment of intangible assets in national accounting. Knowledge ("World 3" in Karl Popper's term) is a sort of environment for human beings. As people more and more come to think that knowledge is an important factor for economic growth, the society comes to believe knowledge is capital. However, it is not easy to treat knowledge as capital. First of all, it is because knowledge creation is not economic production. In this paper, i...

  19. Renewable energies: the Spanish assets; Energies renouvelables: les atouts espagnols

    Energy Technology Data Exchange (ETDEWEB)

    Petit-Pez, Ch.; Molenat, G

    2009-07-01

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

  20. 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."

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

    Science.gov (United States)

    Andrew, B K

    1997-01-01

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

  2. 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.

  3. Monetary Policy Trade-Offs in a Portfolio Model with Endogenous Asset Supply

    OpenAIRE

    Schüder, Stefan

    2012-01-01

    This paper develops an open economy portfolio balance model with endogenous asset supply. Domestic producers choose an optimal capital structure and finance capital goods through credit, bonds and equity assets. Private households hold a portfolio of domestic and foreign assets, shift balances depending on risk-return considerations, and maximise real consumption in accordance with the law of one price. Within this general equilibrium model, it will be shown that central bank interventions ma...

  4. BEYOND IAS 38 [A look to the future of Intangible Assets

    OpenAIRE

    Valdivia Ramos, Román Arturo; Facultad de Ciencias Contables, Universidad Nacional Mayor de San Marcos

    2014-01-01

    Intangible assets are assets that generate and create value things. The product itself does not create value; the value is what gives the brand, reputation, corporate culture. Therefore, it is difficult that the current accounting can record these intangible assets, as it was not created and designed for it. Accounting is made to record tangible or material things, giving an economic value to such things. Would you sell your company for the amount that reflects the accounting? Surely the answ...

  5. Exploring some standard-setters’ views in respect of asset recognition

    OpenAIRE

    El-Tawy, N; Tollington, T

    2009-01-01

    In-depth semi-structured interviews were conducted with four Standards-setters: three International Accounting Standards Board members and a Canadian Accounting Standards Board staff member –who has been working on the IASB’s Conceptual Framework project – in particular, the elements and recognition phase. These interviews were conducted from May to June 2008 and were directed towards seven related themes taken from the litarture: the definition of an asset, the recognition of an asset, asset...

  6. MAKING THE INVISIBLE VISIBLE: THE INTANGIBLE ASSETS RECOGNITION, THE VALUATION AND REPORTING IN ROMANIA

    OpenAIRE

    NICOLETA RADNEANTU

    2009-01-01

    The emergence of knowledge-based companies increased the importance of intangible assets, assets that were considered the most competitive advantages of companies. So, in this paper I tried to answer the following question: Which is the Romanian accounting reality about the intangible assets recognition, evaluation and reporting? What can we do that traditional financial statements do not become mostly useless for their end users?

  7. The Future of Asset Management for Human Space Exploration: Supply Classification and an Integrated Database

    Science.gov (United States)

    Shull, Sarah A.; Gralla, Erica L.; deWeck, Olivier L.; Shishko, Robert

    2006-01-01

    One of the major logistical challenges in human space exploration is asset management. This paper presents observations on the practice of asset management in support of human space flight to date and discusses a functional-based supply classification and a framework for an integrated database that could be used to improve asset management and logistics for human missions to the Moon, Mars and beyond.

  8. 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.

  9. The Effect Of Intangible Asset Financial Performance And Financial Policies On The Firm Value

    OpenAIRE

    Rindu Rika Gamayuni

    2015-01-01

    Abstract The purpose of this study is to test empirically the relationship between intangible assets financial policies and financial performance to the firm value at going-public company in Indonesia. Path analysis was used to ascertain the relationship between intangible assets financial policies financial performance and firm value at going-public company in Indonesia in the year 2007 to 2009. This study also provides empirical evidence that Intangible assets financial policies financial p...

  10. Value relevance of acquired intangible assets and accounting discretion in purchase price allocation

    OpenAIRE

    2009-01-01

    The purchase price allocation process introduced by IFRS 3 provides a unique and new setting to study the reliability and value relevance of acquired intangible assets and goodwill. The purpose of this study is to examine the purchase price allocation and to analyze whether the separate recognition of acquired net assets adds the quality of financial reporting. This study focuses on the value relevance of acquired intangible assets and on the possible bias, stemming from manage...

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

    Science.gov (United States)

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

    2011-10-01

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

  12. Nurse perceptions and experiences of patient health assets in oncology care: a qualitative study.

    Science.gov (United States)

    Rotegård, Ann Kristin; Ruland, Cornelia M; Fagermoen, May Solveig

    2011-01-01

    Health assets, a term that refers to patients' strengths and potentials, has emerged as an important aspect of health care. A conceptual analysis of health assets revealed five core dimensions: mobilization, motivational, relational, volitional, and protective strengths. How nurses experience and use patients' health assets, however, is unknown. In this qualitative study, 26 expert nurses in cancer care participated in focus group interviews. The nurses had a large repertoire of experiences with cancer patients' health assets. When the data were subjected to thematic analysis, three new core dimensions were revealed: cognitive, emotional, and physical strengths. Balancing processes within and among health assets--identified as an overriding theme--appeared to be affected by individual and contextual variations. The nurses realized that patients' health assets could be better used and voiced a need for the clinical and organizational support to do so. New issues about health assets raised in this study may be caused by its novel context (e.g., expert nurses in oncology care). More research is needed on health assets in other contexts, such as patients with different health problems, and of possible strategies to support nurses' use of health assets.

  13. Comparing the assets of uninsured households to cost sharing under high-deductible health plans.

    Science.gov (United States)

    Jacobs, Paul D; Claxton, Gary

    2008-01-01

    Financial assets are relevant when one is assessing whether high-deductible plans, which require greater up-front cost sharing, are worthwhile for the uninsured. We show that uninsured households have less financial assets compared to the insured; at lower income levels, their net financial assets may even be negative. Although lower premiums may increase the ability of the uninsured to buy some coverage, high out-of-pocket liability may leave families exposed to costs that they cannot meet. Paying premiums for a policy that exposes the uninsured to unaffordable medical bills may be viewed as an uneconomical use of their limited assets.

  14. 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.

  15. 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.

  16. Return on Assets Efficiency of Kenyan Banking Sector

    Directory of Open Access Journals (Sweden)

    Isaiah Onsarigo Miencha

    2016-08-01

    Full Text Available This paper empirically predicts the Return on Assets (ROA efficiency of sample banks by using the Data Envelopment Analysis. A sample of 18 banks was taken for the study. The sample banks were categorized into three main groups’ i.e. large size group, medium size group and small size group. The main objective of this study was to analyze the technical efficiency (in respect of return on asset of sample Kenyan banks, namely, Kenya Commercial Bank Ltd, Standard Chartered Bank Ltd, Barclays bank of Kenya Ltd, Co-operative Bank of Kenya Ltd, CFC Stanbic Bank Ltd, Equity Bank Ltd, Bank of India Ltd, Bank of Baroda Ltd, Commercial Bank of Africa Ltd, National Industrial Development Bank of Kenya Ltd, I & M Bank Ltd, Diamond Trust Bank (K Ltd, Habib Bank Ltd, Oriental Commercial Bank Ltd, Habib Bank A.G. Zurich,Development Bank of Kenya Ltd, Fidelity Commercial Bank Ltd and K-Rep Bank Ltd. The study recommends that the inefficient banks should especially improve their non-cash loans and should control their annual expenditures.

  17. INTANGIBLE ASSETS – IMPORTANT RESOURCE FOR ENTERPRISE PERFORMANCE MANAGEMENT

    Directory of Open Access Journals (Sweden)

    ANDREEA PAULA DUMITRU

    2011-04-01

    Full Text Available Along time, the goal of intangible assets became very important for the activity and prosperity of business. This matter is achieved as well as more and more the companies operate in a global economy which has as main base the digital revolution and information management. The increase of the immaterial investments percent requires evaluation and recognition criteria by knowledge, intelligence and human competence. But recently, the accounting standards were about to accord negligible attention or even totally ignored the appropriate modalities of report this category of assets. The accounting, obliged to bend to economic, financial and juridical logics, in a „Taylor” modality, presents an unreal image of the company economic life and particularly of investment activity. In a competitive environment, the reliability of future economic benefits, generated by investments, depends less on their material or immaterial nature and more on the characteristics of the market they operate on. These are just a few reflections which determined us to focus our attention to this thoughtprovoking domain of immaterial investments, appreciated as a potential for the company.

  18. Intangible Assets – Important Resources for Performant Enterprise Gestion

    Directory of Open Access Journals (Sweden)

    Corina Grosu

    2006-10-01

    Full Text Available Along time, the goal of intangible assets became very important for the activity and prosperity of business. This matter is achieved as well as more and more the companies operate in a global economy which has as main base the digital revolution and information management. The increase of the immaterial investments percent requires evaluation and recognition criteria by knowledge, intelligence and human competence. But recently, the accounting standards were about to accord negligible attention or even totally ignored the appropriate modalities of report this category of assets. The accounting, obliged to bend to economic, financial and juridical logics, in a „Taylor” modality, presents an unreal image of the company economic life and particularly of investment activity. In a competitive environment, the reliability of future economic benefits, generated by investments, depends less on their material or immaterial nature and more on the characteristics of the market they operate on. These are just a few reflections which determined us to focus our attention to this thought-provoking domain of immaterial investments, appreciated as a potential for the company.

  19. 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.

  20. 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.

  1. Wealth concentration in a biased asset-exchange model

    Science.gov (United States)

    Devitt-Lee, Adrian

    Economic inequality is a significant and dynamic problem throughout the world. Asset-exchange models have been used to model macroeconomic systems based on microeconomic assumptions about how agents exchange wealth in an economy. Previous studies of a certain asset-exchange model, called the Yard-Sale model, have found that trade alone promotes the condensation of wealth to a single individual in an economy [Chakraborti, 2002, Moukarzel et al., 2007, Boghosian, 2014b]. A later study found that a slight modification of the Yard-Sale model seems to allow for the coexistence of both "condensed wealth" and a normal population in an economy [Boghosian et al., 2016a]. This work formalizes the notion of wealth condensation in a macroeconomic system. This can be done by extending Schwartz's theory of distributions to allow for objects which increase at most linearly at infinity, or by considering condensed wealth to be a nonstandard phenomenon, and describing it as such. Numerical simulations indicate that this continuous description of wealth concentration is a valid approximation of wealth concentration in discrete systems with as few as 256 agents. We then study the properties of the steady-state distribution of wealth in such a system, and mention the fit of our system to the distribution of wealth in the United States in 2016.

  2. 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.

  3. 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.

  4. Getting past the dual logic: findings from a pilot asset mapping exercise in Sheffield, UK.

    Science.gov (United States)

    South, Jane; Giuntoli, Gianfranco; Kinsella, Karina

    2017-01-01

    Asset-based approaches seek to identify and mobilise the personal, social and organisational resources available to communities. Asset mapping is a recognised method of gathering an inventory of neighbourhood assets and is underpinned by a fundamentally different logic to traditional needs assessments. The aim of this paper is to explore how asset mapping might be used as a tool for health improvement. It reports on a qualitative evaluation of a pilot asset mapping project carried out in two economically disadvantaged neighbourhoods in Sheffield, UK. The project involved community health champions working with two community organisations to identify assets linked to the health and wellbeing of their neighbourhoods. The evaluation was undertaken in 2012 after mapping activities had been completed. A qualitative design, using theory of change methodology, was used to explore assumptions between activities, mechanisms and outcomes. Semi structured interviews were undertaken with a purposive sample of 11 stakeholders including champions, community staff and strategic partners. Thematic analysis was used and themes were identified on the process of asset mapping, the role of champions and the early outcomes for neighbourhoods and services. Findings showed that asset mapping was developmental and understandings grew as participatory activities were planned and implemented. The role of the champions was limited by numbers involved, nonetheless meaningful engagement occurred with residents which led to personal and social resources being identified. Most early outcomes were focused on the lead community organisations. There was less evidence of results feeding into wider planning processes because of the requirements for more quantifiable information. The paper discusses the importance of relational aspects of asset mapping both within communities and between communities and services. The conclusions are that it is insufficient to switch from the logic of needs to assets

  5. 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.

  6. 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...

  7. 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...

  8. 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...

  9. 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...

  10. 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....

  11. 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....

  12. 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.

  13. 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.

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

    NARCIS (Netherlands)

    Zhang, J.; Fachry, K.N.; Kamps, J.; Tibbo, H.R.; Hank, C.; Lee, C.A.; Clemens, R.

    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

  15. Estimating and Forecasting Asset Volatility and Its Volatility: A Markov-Switching Range Model

    NARCIS (Netherlands)

    Piplack, J.

    2009-01-01

    This paper proposes a new model for modeling and forecasting the volatility of asset markets. We suggest to use the log range defined as the natural logarithm of the difference of the maximum and the minimum price observed for an asset within a certain period of time, i.e. one trading week. There is

  16. 77 FR 63763 - Regulatory Capital Rules: Standardized Approach for Risk-Weighted Assets; Market Discipline and...

    Science.gov (United States)

    2012-10-17

    ...; ] FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Part 324 RIN 3064-AD96 Regulatory Capital Rules: Standardized Approach for Risk-Weighted Assets; Market Discipline and Disclosure Requirements; Initial Regulatory..., titled, ``Regulatory Capital Rules: Standardized Approach for Risk-Weighted Assets; Market Discipline...

  17. Strengthening Universal Primary Education in Uganda: The Potential Role of an Asset-Based Development Policy

    Science.gov (United States)

    Ssewamala, Fred M.; Wang, Julia Shu-Huah; Karimli, Leyla; Nabunya, Proscovia

    2011-01-01

    This paper is divided into three complementary parts. First, we examine the challenges to the Universal Primary Education (UPE) policy in Uganda, including insufficient instructional materials and family-level poverty. Second, guided by asset theory, and based on a systematic review of studies on asset-based development programs and interventions,…

  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. 75 FR 34755 - Privacy Act; Proposed Alteration to Existing Systems of Records, Single Family Mortgage Asset...

    Science.gov (United States)

    2010-06-18

    .... HUD/HS-59 SYSTEM NAME: Single Family Mortgage Asset Recovery Technology (SMART). SYSTEM LOCATION... URBAN DEVELOPMENT Privacy Act; Proposed Alteration to Existing Systems of Records, Single Family Mortgage Asset Recovery Technology (SMART/A80H) AGENCY: Office of the Chief Information Officer,...

  20. Monitoring of current assets of enterprises in increasing level of economic security

    Directory of Open Access Journals (Sweden)

    Andrii Ruzhytskyi

    2013-11-01

    Full Text Available In the article it is reasonably argued that complex of theoretical and methodological principles for approaches to management of current assets with regard to their influence on the current and future state of the economic security of enterprises and monitoring scheme is proposed as a way of organizing management activities. As part of this goal, solved the following research objectives: monitoring scheme is proposed as a way of organizing management activities; methodical approaches to formation control system of current assets with regard to its effect on the current and future state of economic security; have been proposed a scientific approach to select management alternatives that can simultaneously takes account the status of current assets and changing economic security for different time horizons. Have been generalized a role in enterprise management of current assets the economic security mechanism. Have been proposed a matrix of management alternatives depending on the matrix and current assets use of forms and types of calculations depending on the type of policy, management of current assets. The result of the comprehensive study have been proposed a matrix of management alternatives depending on the status of current assets and the use of matrix forms and types of calculations depending on the type of policy management of current assets.

  1. 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...

  2. 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...

  3. 11 CFR 9034.9 - Sale of assets acquired for fundraising purposes.

    Science.gov (United States)

    2010-01-01

    ... 11 Federal Elections 1 2010-01-01 2010-01-01 false Sale of assets acquired for fundraising... fundraising purposes. (a) General. A candidate may sell assets donated to the candidate's authorized committee(s) or otherwise acquired for fundraising purposes (See 11 CFR 9034.5(c)(2)), subject to...

  4. 11 CFR 9004.10 - Sale of assets acquired for fundraising purposes.

    Science.gov (United States)

    2010-01-01

    ... 11 Federal Elections 1 2010-01-01 2010-01-01 false Sale of assets acquired for fundraising... § 9004.10 Sale of assets acquired for fundraising purposes. (a) General. A minor or new party candidate... fundraising purposes subject to the limitations and prohibitions of 11 CFR 9003.2, title 2, United States...

  5. 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...

  6. 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...

  7. 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. 1.430(g)-1 Section 1.430(g)-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Certain Stock Options § 1.430(g)-1 Valuation date and valuation of plan assets. (a) In...

  8. Cooperative Control of Unmanned Surface Vessels and Unmanned Underwater Vessels for Asset Protection

    Science.gov (United States)

    2015-05-18

    COOPERATIVE LOCALIZATION OF UUVS 9.1 Overview Localization of vehicles beneath the surface presents a very challenging problem given that...A TRIDENT SCHOLAR PROJECT REPORT NO. 444 Cooperative Control of Unmanned Surface Vessels and Unmanned Underwater Vessels for Asset...project report; no. 444 (2015) COOPERATIVE CONTROL OF UNMANNED SURFACE VESSELS AND UNMANNED UNDERWATER VESSELS FOR ASSET PROTECTION by

  9. 78 FR 40953 - Loan Participations; Purchase, Sale and Pledge of Eligible Obligations; Purchase of Assets and...

    Science.gov (United States)

    2013-07-09

    ... ADMINISTRATION 12 CFR Parts 701 and 741 RIN 3133-AEOO Loan Participations; Purchase, Sale and Pledge of Eligible Obligations; Purchase of Assets and Assumption of Liabilities; Extension of Effective Date AGENCY: National... Loan Participations; Purchase, Sale and Pledge of Eligible Obligations; Purchase of Assets...

  10. Why Do Gamers Buy "Virtual Assets"? An Insight in to the Psychology behind Purchase Behaviour

    Science.gov (United States)

    Cleghorn, Jack; Griffiths, Mark D.

    2015-01-01

    The present study investigated the phenomenon of buying "virtual assets" for game avatars. Virtual Assets are items that are bought with real-world money for an avatar in-game. Weapons, items, pets, mounts and skin customisations are the most popular examples. Using a qualitative methodology--in this case Interpretative phenomenological…

  11. 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.

  12. 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...

  13. 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.

  14. 78 FR 79286 - Truth in Lending (Regulation Z): Adjustment to Asset-Size Exemption Threshold

    Science.gov (United States)

    2013-12-30

    ... 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 for... requirements, Savings associations, Truth in lending. Authority and Issuance For the reasons set forth in...

  15. 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.

  16. 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.

  17. 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

  18. Explaining the Variation in REIT Capital Structure: The Role of Asset Liquidation Value

    NARCIS (Netherlands)

    Giambona, E.; Harding, J.P.; Sirmans, C.F.

    2008-01-01

    We test the Shleifer-Vishny hypothesis that asset liquidation values influence both firm leverage and the choice of debt maturity. Using panel data on real estate investment trusts, we estimate a simultaneous equation model and find that firms specializing in the most (least) liquid assets use more

  19. 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...

  20. 18 CFR 367.1760 - Account 176, Derivative instrument assets-Hedges.

    Science.gov (United States)

    2010-04-01

    ... GAS ACT Balance Sheet Chart of Accounts Current and Accrued Assets § 367.1760 Account 176, Derivative... instrument assets-Hedges. 367.1760 Section 367.1760 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY REGULATIONS UNDER THE PUBLIC UTILITY HOLDING COMPANY ACT OF...

  1. Evaluating Asset Pricing Models in a Simulated Multifactor Approach

    Directory of Open Access Journals (Sweden)

    Wagner Piazza Gaglianone

    2012-12-01

    Full Text Available In this paper a methodology to compare the performance of different stochastic discount factor (SDF models is suggested. The starting point is the estimation of several factor models in which the choice of the fundamental factors comes from different procedures. Then, a Monte Carlo simulation is designed in order to simulate a set of gross returns with the objective of mimicking the temporal dependency and the observed covariance across gross returns. Finally, the artificial returns are used to investigate the performance of the competing asset pricing models through the Hansen and Jagannathan (1997 distance and some goodness-of-fit statistics of the pricing error. An empirical application is provided for the U.S. stock market.

  2. 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.

  3. 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.

  4. 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.

  5. International interest in space assets under the Cape Town Convention

    Science.gov (United States)

    Ametova, Lutfiie

    2013-12-01

    Private human access to outer space is impossible without space equipment. Nowadays space equipment is increasingly being financed by private sector. Private sector financiers, naturally, seek to secure their interest in space equipment. At the same time, increasing international cooperation in space industry leads to some problems of legal character. Thus, space equipment involved in international cooperation programs crosses national borders and is subject to a certain jurisdiction in a given period of time. The problem is that when an interest is created in one jurisdiction, it may not necessarily be recognised in another one. In order to provide a unified approach to interests vested in space equipment an international legal instrument is necessary. The Cape Town Convention represents an international instrument designed to provide a unified approach to interests vested in mobile equipment, including space assets.

  6. The angular distribution of asset returns in delay space

    Directory of Open Access Journals (Sweden)

    Roger Koppl

    2001-01-01

    Full Text Available Plotting asset returns against themselves with a one-period lag reveals the “compass rose” pattern of Crack and Ledoit (1996. They describe the pattern, caused by discreteness, as “subjective”. We develop a new and original set of “objective” statistical procedures to quantify the compass rose and detect changes in it. empirical and bootstrapped “theta histograms” permits hypothesis testing. Simulations suggest that intertemporal statistical dependence skews the compass rose in ways that mimic ARCH phenomena. Using our techniques on “credit ruble” data, we test the hypothesis that “Big Players” influence the degree of this “X-skewing” and, therefore, apparent ARCH behavior.

  7. Programs and Place: Risk and Asset Mapping for Fall Prevention

    Science.gov (United States)

    Smith, Matthew Lee; Towne, Samuel D.; Motlagh, Audry S.; Smith, Donald R.; Boolani, Ali; Horel, Scott A.; Ory, Marcia G.

    2017-01-01

    Identifying ways to measure access, availability, and utilization of health-care services, relative to at-risk areas or populations, is critical in providing practical and actionable information to key stakeholders. This study identified the prevalence and geospatial distribution of fall-related emergency medical services (EMS) calls in relation to the delivery of an evidence-based fall prevention program in Tarrant County, Texas over a 3-year time period. It aims to educate public health professionals and EMS first respondents about the application of geographic information system programs to identify risk-related “hot spots,” service gaps, and community assets to reduce falls among older adults. On average, 96.09 (±108.65) calls were received per ZIP Code (ranging from 0 calls to 386 calls). On average, EMS calls per ZIP Code increased from 30.80 (±34.70) calls in 2009 to 33.75 (±39.58) calls in 2011, which indicate a modest annual call increase over the 3-year study period. The percent of ZIP Codes offering A Matter of Balance/Volunteer Lay Leader Model (AMOB/VLL) workshops increased from 27.3% in 2009 to 34.5% in 2011. On average, AMOB/VLL workshops were offered in ZIP Codes with more fall-related EMS calls over the 3-year study period. Findings suggest that the study community was providing evidence-based fall prevention programming (AMOB/VLL workshops) in higher-risk areas. Opportunities for strategic service expansion were revealed through the identification of fall-related hot spots and asset mapping. PMID:28361049

  8. 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

  9. 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.

  10. Time Consistent Strategies for Mean-Variance Asset-Liability Management Problems

    Directory of Open Access Journals (Sweden)

    Hui-qiang Ma

    2013-01-01

    Full Text Available This paper studies the optimal time consistent investment strategies in multiperiod asset-liability management problems under mean-variance criterion. By applying time consistent model of Chen et al. (2013 and employing dynamic programming technique, we derive two-time consistent policies for asset-liability management problems in a market with and without a riskless asset, respectively. We show that the presence of liability does affect the optimal strategy. More specifically, liability leads a parallel shift of optimal time-consistent investment policy. Moreover, for an arbitrarily risk averse investor (under the variance criterion with liability, the time-diversification effects could be ignored in a market with a riskless asset; however, it should be considered in a market without any riskless asset.

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

    Directory of Open Access Journals (Sweden)

    Piotr Szczepankowski

    2007-12-01

    Full Text Available 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 value of equity (the lower financial risk. Not taking into account the profitable influence of cash value and other non-operating assets can negatively affect on result of final value of enterprise, reducing it. In the article two alternative approaches (separate and inclusive of cash value is presented. Also main determinants of estimating value of cash are described as well as potential threats of its valuation.

  12. Accounting Practices Regarding the Non-Current Assets Held for Sale

    Directory of Open Access Journals (Sweden)

    Marinela Manea

    2010-12-01

    Full Text Available Generally the non-current assets, and especially the tangible assets, are held by the entity (as it results from their very definition in order to be used in the production of goods or for services, to be rented to the thirds or to be used for administrative purposes during several periods. For the time interval that a non-current asset is not classified as being held for sale, its recognition and implicitly its assessment will be done in accordance with the provisions of the applicable International Financial Reporting Standards; after the classification of the respective asset as being held with the intention of subsequent sale there will be applicable the provisions of the contemporary IFRS norm 5 “Non-current assets held for sale and discontinued activities”.

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

    CERN Document Server

    Herder, Paulien; Wijnia, Ype

    2012-01-01

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

  14. 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.

  15. Application of quantum master equation for long-term prognosis of asset-prices

    Science.gov (United States)

    Khrennikova, Polina

    2016-05-01

    This study combines the disciplines of behavioral finance and an extension of econophysics, namely the concepts and mathematical structure of quantum physics. We apply the formalism of quantum theory to model the dynamics of some correlated financial assets, where the proposed model can be potentially applied for developing a long-term prognosis of asset price formation. At the informational level, the asset price states interact with each other by the means of a "financial bath". The latter is composed of agents' expectations about the future developments of asset prices on the finance market, as well as financially important information from mass-media, society, and politicians. One of the essential behavioral factors leading to the quantum-like dynamics of asset prices is the irrationality of agents' expectations operating on the finance market. These expectations lead to a deeper type of uncertainty concerning the future price dynamics of the assets, than given by a classical probability theory, e.g., in the framework of the classical financial mathematics, which is based on the theory of stochastic processes. The quantum dimension of the uncertainty in price dynamics is expressed in the form of the price-states superposition and entanglement between the prices of the different financial assets. In our model, the resolution of this deep quantum uncertainty is mathematically captured with the aid of the quantum master equation (its quantum Markov approximation). We illustrate our model of preparation of a future asset price prognosis by a numerical simulation, involving two correlated assets. Their returns interact more intensively, than understood by a classical statistical correlation. The model predictions can be extended to more complex models to obtain price configuration for multiple assets and portfolios.

  16. A managerial approach to costing fixed assets in health care organizations: the role of depreciation and interest.

    Science.gov (United States)

    Goldschmidt, Y; Gafni, A

    1991-01-01

    The economic aspect of depreciation and interest on capital are incorporated within a managerial accounting framework by treating both items as imputed charges to be debited to the users of the assets' services. The costs of these services is examined for individual assets that provide either uniform or declining service over the expected life, and for a stock of assets where the character of the individual assets is ignored. By using imputed charges, the hospital's net income is allocated to its sources.

  17. ASSETS AND LIABILITIES DEPENDENCE: EVIDENCE FROM AN EUROPEAN SAMPLE OF BANKS

    Directory of Open Access Journals (Sweden)

    Cociuba Mihail Ioan

    2014-12-01

    Full Text Available In this paper we analyzed the correlation between asset and liabilities using the canonical correlation method, in the case of correlation we analyze the interdependence between two variables, by using canonical correlation analyses we study the interdependence between two groups of variables, X consisting of p variables and Y with q variables from which the best linear combination can be constructed to maximize the correlation between X and Y. While on the financial markets the relation between variables may be linear or non-linear and although canonical correlation analyses only the linear combination of variables it is a more efficient tool than then simple correlation.The asset group which we analyze is composed of different types of loans, derivatives and other earning assets, while in the group of liabilities we have deposits (short and long term, interest bearing liabilities and trading liabilities. We find that the assets and liabilities in the banking sector are directly linked. In the context of the global financial crisis (2007-2008 and the afterwards financial recession this direct correlation between assets and liabilities created a vicious cycle in which the losses from assets had a direct impact on the liabilities which also influenced the levels of assets.The behavior of different variables is important, especially in the financial markets, mainly due to the structure of financial markets. The banking sector and the systemic risk associated with it can affect the financial system and even the whole economy so the study of the correlation of assets and liabilities may give us insights on the causes of the financial crises. We use a panel of fifty-nine European banks for the 2004-2011 period and we analyses the correlation between assets and liabilities. We find that there exists a direct and strong connection between different classes of assets held by banks and the structure of liabilities. The impact of the economic crisis on

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

    DEFF Research Database (Denmark)

    Østergaard, Jacob; Jensen, A. Norsk

    2001-01-01

    Asset management is emerging as a new approach on how to exploit an electric utility physical asset in the most profitable way. One of the major questions to answer by the asset management staff is when to do replacements? This is a difficult question, which require weighting of several parameter...

  19. An Analysis of Information Asset Valuation (IAV) Quantification Methodology for Application with Cyber Information Mission Impact Assessment (CIMIA)

    Science.gov (United States)

    2008-03-01

    16  Intangible Asset ..................................................................................................... 16  Financial...examined from the accounting discipline. Intangible asset valuation is also a concern in the legal discipline in the two main areas of intellectual...property infringement and natural resource damage. The area of law lending itself to intangible asset valuation may be found in the documents covering

  20. 20 CFR 404.1084 - Gain or loss from disposition of property; capital assets; timber, coal, and iron ore...

    Science.gov (United States)

    2010-04-01

    ...; capital assets; timber, coal, and iron ore; involuntary conversion. 404.1084 Section 404.1084 Employees... from disposition of property; capital assets; timber, coal, and iron ore; involuntary conversion. (a... capital asset; (2) From the cutting of timber or from the disposal of timber or coal, even if...

  1. What Young Children Need To Succeed: Working Together To Build Assets from Birth to Age 11. A Leader's Guide.

    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 grow up healthy, well-adjusted, and strong. This leader's guide provides instructions for five workshops that introduce the concept of children's assets and address how to build assets in infants, toddlers,…

  2. 77 FR 60732 - PACE Select Advisors Trust and UBS Global Asset Management (Americas) Inc.; Notice of Application

    Science.gov (United States)

    2012-10-04

    ... COMMISSION PACE Select Advisors Trust and UBS Global Asset Management (Americas) Inc.; Notice of Application... Global Asset Management (Americas) Inc. (the ``Adviser'') (collectively, ``Applicants''). Filing Dates... Global Asset Management (Americas) Inc., 1285 Avenue of the Americas, New York, NY 10019-6028....

  3. 17 CFR 250.41 - Exemption of public utility subsidiaries with respect to limited acquisition of utility assets.

    Science.gov (United States)

    2010-04-01

    ... utility assets already owned and operated by the acquiring company, excluding connections over lines not operated by the acquiring company. (b) Gas utility assets. Any gas utility assets to be acquired are... operated by the acquiring company are located. (c) Limit in amount. The total consideration paid...

  4. The Effect Of Intangible Asset Financial Performance And Financial Policies On The Firm Value

    Directory of Open Access Journals (Sweden)

    Rindu Rika Gamayuni

    2015-01-01

    Full Text Available Abstract The purpose of this study is to test empirically the relationship between intangible assets financial policies and financial performance to the firm value at going-public company in Indonesia. Path analysis was used to ascertain the relationship between intangible assets financial policies financial performance and firm value at going-public company in Indonesia in the year 2007 to 2009. This study also provides empirical evidence that Intangible assets financial policies financial performance have significant influence to the firm value simultaneously. Intangible assets has no significant influence to financial policies but has positive and significant influenced to financial performance ROA and firm value. Debt policies and financial performance ROA influenced firm value positive and significant. Financial statements limitation in measuring and disclosing intangible assets is the cause of significant difference between book value equity and market value equity. Measurement and disclosure of intangible assets intellectual capital precisely and aqurately is very important because intangible assets have a positive and significant effect to the firm value. Accounting standards should be concerned about this.

  5. Asset Management Planning – providing the evidence to support robust and risk-based investment decisions

    Directory of Open Access Journals (Sweden)

    Mitchell Chrissy

    2016-01-01

    Full Text Available Over the last decade the UK’s joint Flood and Coastal Erosion Risk Management Research and Development programme has been developing methods to support a move to a risk-based approach to flood defence asset management. Looking to ensure investment is less ‘find and fix’ and made to those assets where the biggest risk reduction can be made for the money available. In addition, providing the capability to articulate the benefits of investing in these assets quantitatively and transparently. This paper describes how the Asset Performance Tools (APT project [1] is delivering practical methods, prototype tools and supporting guidance which, together with related initiatives such as the Environment Agency’s Creating Asset Management Capacity (CAMC strategic programme [2] and the ‘State of the Nation’ (SoN [3] supportive datasets, will enable a risk-based, ‘predict and protect’ approach to asset management. A key advance is the ability to bring in local knowledge to make national generic datasets locally relevant. The paper also highlights existing outputs that can already be used to support a more proactive approach to asset management. It will summarise the ongoing work which will further develop and fine tune performance assessment and investment decision processes within an integrated conceptual framework aligned with ISO55000, deliverable via CAMC and whose concepts can be used by all risk management authorities.

  6. Patient centeredness in terminologies: coverage of health assets concepts in the International Classification of Nursing Practice.

    Science.gov (United States)

    Rotegaard, Ann Kristin; Ruland, Cornelia M

    2010-10-01

    Health assets has emerged as an important concept in health care, representing patients' strengths and perspectives, but has not received much attention in structured vocabularies or classification systems of nursing care to date. The purpose of this study was to explore the representation of health assets concepts in the International Classification of Nursing Practice(R) (ICNP). Concepts from a conceptual model of health assets were cross-mapped to the ICNP terminology system version 2.0. Thirty-three of 76 health assets concepts/terms were represented in the ICNP. However, several health assets categories and subcategories were missing or embedded in the descriptors of other ICNP concepts/terms. A number of ICNP terms did not include positive statements consistent with the health assets approach, and many terms reflected the objectiveness of a clinician's perspective rather than a patient's strength perspective. ICNP would benefit from the inclusion of additional health assets concept to reflect and support patient-centered nursing care as well as the patient's empowerment and self-management of health.

  7. Does Online Investor Sentiment Affect the Asset Price Movement? Evidence from the Chinese Stock Market

    Directory of Open Access Journals (Sweden)

    Chi Xie

    2017-01-01

    Full Text Available With the quick development of the Internet, online platforms that provide financial news and opinions have attracted more and more attention from investors. The question whether investor sentiment expressed on the Internet platforms has an impact on asset return has not been fully addressed. To this end, this paper uses the Baidu Searching Index as the agent variable to detect the effect of online investor sentiment on the asset price movement in the Chinese stock market. The empirical study shows that although there is a cointegration relationship between online investor sentiment and asset return, the sentiment has a poor ability to predict the price, return, and volatility of asset price. Meanwhile, the structural break points of online investor sentiment do not lead to changes in the asset price movement. Based on the empirical mode decomposition of online investor sentiment, we find that high frequency components of online investor sentiment can be used to predict the asset price movement. Thus, the obtained results could be useful for risk supervision and asset portfolio management.

  8. HARMONIZATION OF NATIONAL REGULATION AND INTERNATIONAL FINANCIAL REPORTING STANDARDS – PARTICULAR CASE OF NONCURRENT ASSETS

    Directory of Open Access Journals (Sweden)

    Coste Andreea Ioana

    2013-07-01

    Full Text Available In the scientific literature, accounting harmonization is a top topic because it helps to increase the comparability of financial statements. Also in Romania in the last 10 years becames a topic that is very often debated. The harmonization is trying to reduce differences of financial reporting statements between countries or, in the other words, it is trying to bring to a common denominator of existing rules when appear conflicts of comparability between them. The purpose of this paper is to measure the harmonisation between national and international regulation for a significant element of financial position statement, such as noncurrent assets. This paper provides an empirical research of information that must be presented by entities which apply national accounting standards or international ones when financial statements are prepared, trying to measure the harmonization between the two referential. Thus, in trying to determine the harmonisation, we use the Jaccard coefficient in order to provide an overview of the degree of harmonization of accounting practice. When measuring the degree of comparability of Romanian accounting regulations with International Accounting Standards we analyzed noncurrent assets and impairment of assets using the Jaccard coefficient for accounting treatments and we calculated an average of similarities between the two regulations. Further, the results suggest that there is an average level of harmonization for the accounting treatment of noncurrent assets and for determining the impairment of the assets, the methods are the same. The study contributes to the development of accounting literature about the harmonisation between national regulation and international standards regarding the noncurrent assets and impairment of the assets, which together with the other elements define the activity of the business. In addition, the study provides an analysis of how the regulations treats noncurrent assets, during the

  9. PARTICULARITES AND VARIOS ACCOUTING WAYS OF FIXED ASSETS IN ACCORDANCE WITH RAS AND IAS

    Directory of Open Access Journals (Sweden)

    Azieva Z. I.

    2014-05-01

    Full Text Available This article concerns the peculiarities of accounting of fixed assets according to RAS and IAS, because of unnecessarily increasing of number of companies experiencing the need for the preparation of financial statements for the 2nd standards. Despite the fact that RAS in recent years have made significant progress in convergence with IFRS in terms of fixed assets accounting, but still has the inherent differences with IFRS. Some organizations are faced with additional costs for parallel accounting or reporting transformation. Understanding the fundamental differences between the RAS, in terms of the assets, will maximize reconcile accounting and management accounting with IFRS in the industry and reduce the costs

  10. The Educational Asset Market: A Finance Perspective on Human Capital Investment

    DEFF Research Database (Denmark)

    Christiansen, Charlotte; Nielsen, Helena Skyt

    2002-01-01

    Like the stock market, the human capital market consists of a wide range of assets, i.e. educations. Each young individual chooses the educational asset that matches his preferred combination of risk and return in terms of future income. A unique register-based data set with exact information...... on type and level of education enables us to focus on the shared features between human capital and stock investments. An innovative finance-labor approach is applied to study the educational asset market. A risk-return trade-off is revealed which is not directly related to the length of education....

  11. Competing in Several Areas Simultaneously: The Case of Strategic Asset Markets

    Directory of Open Access Journals (Sweden)

    Manfred Nermuth

    2011-04-01

    Full Text Available We characterize the structure of Nash equilibria for a certain class of asset market games. In equilibrium, different assets have different returns, and (risk neutral investors with different wealth hold portfolios with different structures. In equilibrium, an asset’s return is inversely related to the elasticity of its supply. The larger an investor, the more diversified is his portfolio. Smaller investors do not hold all the assets, but achieve higher percentage returns. More generally, our results can be applied also to other “multi-market games” in which several players compete in several arenas simultaneously, like multi-market Cournot oligopolies, or multiple rent-seeking games.

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

    Directory of Open Access Journals (Sweden)

    Maja DJUKIC

    2009-12-01

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

  13. ACCOUNTING POLICIES APPLIED BY ENTITIES AND THE VALUE OF FIXED ASSETS

    Directory of Open Access Journals (Sweden)

    Partenie Dumbravă

    2012-01-01

    Full Text Available The objective of this paper is to present the accounting policies applied by medium taxpayers in Covasna county and analyse the factors of influence over choice of accounting policies related to tangible assets. The study contains an analysis of answers given by respondents to the questionnaire sent, with regard to: evaluation bases, revaluation of the tangible assets of the entities, used amortization methods and the depreciable value. The results obtained among other, show that the greatest effect on accounting policy choices have influence factor no. 7 - The tangible assets value in the financial statements present the true and fair view of them.

  14. Capital management and measuring intangible assets for public organizations, revisiting the literature

    Directory of Open Access Journals (Sweden)

    Ivan Ramirez

    2017-03-01

    Full Text Available Public administration is not alien to knowledge society or to the "new economy". Thus, it is transforming itself to these new requirements, improving its processes to meet the needs of citizens. In this context intangible assets play an important role and become a source of competitive advantage, but only if they are properly managed. Therefore, it is necessary to previously identify intangible assets. This paper revisited the literature in order to comprehend intellectual capital model reflecting different capitals which make up institutions. This study aims to propose an intellectual capital model that enables measurement and management of intangible assets in public administration, including specific issues of public entities.

  15. Fair value versus historical cost-based valuation for biological assets: predictability of financial information

    Directory of Open Access Journals (Sweden)

    Josep M. Argilés

    2011-08-01

    This paper performs an empirical study with a sample of Spanish farms valuing biological assets at HC and a sample applying FV, finding no significant differences between both valuation methods to assess future cash flows. However, most tests reveal more predictive power of future earnings under fair valuation of biological assets, which is not explained by differences in volatility of earnings and profitability. The study also evidences the existence of flawed HC accounting practices for biological assets in agriculture, which suggests scarce information content of this valuation method in the predominant small business units existing in the agricultural sector in advanced Western countries.

  16. Architecture Study for a Fuel Depot Supplied from Lunar Assets

    Science.gov (United States)

    Perrin, Thomas M.; Casler, James G.

    2016-01-01

    This architecture study sought to determine the optimum architecture for a fuel depot supplied from lunar assets. Four factors - the location of propellant processing (on the Moon or on the depot), the depot location (on the Moon, L1, GEO, or LEO), the propellant transfer location (L1, GEO, or LEO), and the propellant transfer method (bulk fuel or canister exchange) were combined to identify 18 candidate architectures. Two design reference missions (DRMs) - a commercial satellite servicing mission and a Government cargo mission to Mars - created demand for propellants, while a propellant delivery DRM examined supply issues. The study concluded Earth-Moon L1 is the best location for an orbiting depot. For all architectures, propellant boiloff was less than anticipated, and was far overshadowed by delta-v requirements and resulting fuel consumption. Bulk transfer is the most flexible for both the supplier and customer. However, since canister exchange bypasses the transfer of bulk cryogens and necessary chilldown losses, canister exchange shows promise and merits further investigation. Overall, this work indicates propellant consumption and loss is an essential factor in assessing fuel depot architectures.

  17. Coordination between offshore transmission assets - A third way approach

    DEFF Research Database (Denmark)

    Silva, Filipe Miguel Faria da

    2014-01-01

    Offshore wind farms have been seen for several years as key for achieving the European targets on the use of renewable energies. The majority of offshore wind parks has been built without considering possible coordination between them, but as their number increases so does the benefits of coordin......Offshore wind farms have been seen for several years as key for achieving the European targets on the use of renewable energies. The majority of offshore wind parks has been built without considering possible coordination between them, but as their number increases so does the benefits...... of coordination between assets. This paper analyses the Ofgem’s document ”Consultation on a proposed framework to enable coordination of offshore transmission” and summarises its proposals. The developer-lead approach used in UK is compared with the TSO-lead approach used in Denmark, regarding potential...... coordination between offshore wind farms of different developers. The paper proposes a third approach, mixing the developer-lead and TSO-lead approaches. The main benefits and challenges of the proposed approach are presented, as well as future work....

  18. The Banff taxonomy of asset valuation methods : how petroleum asset valuation has evolved in the past and where it might go in the future

    Energy Technology Data Exchange (ETDEWEB)

    Laughton, D. [Alberta Univ., Edmonton, AB (Canada)

    2004-07-01

    This presentation described the various approaches that maximize asset value for public corporations with particular reference to the upstream petroleum industry. It focused on estimating asset values using discounted cash flow (DCF) methods and compared it with real options analysis (ROA) methods. Each valuation method was discussed with reference to the reasons for its placement in the taxonomy and the relationships to other methods. Good estimations of asset values are given by methods based on elaborations of the ideas introduced in 1970 by Black, Scholes and Merton (BSM) in their analysis of the value of stock options. The paper described how, why and at what cost the industry should move in certain business directions. A quantitative model to resolve uncertainty was presented. 4 figs.

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

    Data.gov (United States)

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

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

    Data.gov (United States)

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

  1. Building Efficiency Evaluation and Uncertainty Analysis with DOE's Asset Score Preview

    Energy Technology Data Exchange (ETDEWEB)

    None

    2016-08-12

    Building Energy Asset Score Tool, developed by the U.S. Department of Energy (DOE), is a program to encourage energy efficiency improvement by helping building owners and managers assess a building's energy-related systems independent of operations and maintenance. Asset Score Tool uses a simplified EnergyPlus model to provide an assessment of building systems, through minimum user inputs of basic building characteristics. Asset Score Preview is a newly developed option that allows users to assess their building's systems and the potential value of a more in-depth analysis via an even more simplified approach. This methodology provides a preliminary approach to estimating a building's energy efficiency and potential for improvement. This paper provides an overview of the methodology used for the development of Asset Score Preview and the scoring methodology.

  2. Global Asset Pricing: Is There a Role for Long-run Consumption Risk?

    DEFF Research Database (Denmark)

    Rangvid, Jesper; Schmelling, Maik; Schrimpf, Andreas

    We estimate long-run consumption-based asset pricing models using a comprehensive set of international test assets, including broad equity market portfolios, international value/growth portfolios, and international bond portfolios. We find that differences in returns across assets within a country...... that consumption growth is more predictable over short to medium-run horizons than over longer horizons and that empirical evidence of a de- clining risk aversion parameter estimate in long-run risk models has to be interpreted with care....... are sometimes (and most prominently for the U.S.) better captured by the assets' exposure to long-run consumption risk as opposed to their exposure to one-period changes in consumption (the canonical consumption CAPM). Across countries, however, exposure to long-run consumption risk does not provide a better...

  3. [Health promotion based on assets: how to work with this perspective in local interventions?

    Science.gov (United States)

    Cofiño, Rafael; Aviñó, Dory; Benedé, Carmen Belén; Botello, Blanca; Cubillo, Jara; Morgan, Antony; Paredes-Carbonell, Joan Josep; Hernán, Mariano

    2016-11-01

    An asset-based approach could be useful to revitalise health promotion or community health interventions combining work with multiple partnerships, positive health, community engagement, equity and orientation of health determinants. We set some recommendations about how to incorporate the assets model in programmes, projects and interventions in health promotion. Some techniques are described for assets mapping and some experiences with this methodology being developed in different regions are systematised. We propose the term "Asset-based Health Promotion/Community Health" as an operational definition to work at the local level with a community engagement and participatory approach, building alliances between different institutions at the state-regional level and trying to create a framework for action with the generation of evaluations and evidence to work on population interventions from the perspective of positive health.

  4. Health, Education, and the Post-Retirement Evolution of Household Assets.

    Science.gov (United States)

    Poterba, James; Venti, Steven; Wise, David A

    2013-01-01

    We explore the relationship between education and the evolution of wealth after retirement. Asset growth following retirement depends in part on health capital and financial capital accumulated prior to retirement, which in turn are strongly related to educational attainment. These "initial conditions" at retirement can have a lingering effect on subsequent asset evolution. We aim to disentangle the effects of education that operate through health and financial pathways (such as Social Security benefits and the general level of health) prior to retirement from the effects of education that impinge directly on asset evolution after retirement. We also consider the additional effects of education that are not captured through these pathways. We find a substantial effect of education on asset growth through each of the pathways as well as a substantial additional effect not captured by the identified pathways.

  5. Asset Analysis Method for the Cyber Security of Man Machine Interface System

    Energy Technology Data Exchange (ETDEWEB)

    Kang, Sung Kon; Kim, Hun Hee; Shin, Yeong Cheol [Korea Hydro and Nuclear Power, Daejeon (Korea, Republic of)

    2010-10-15

    As digital MMIS (Man Machine Interface System) is applied in Nuclear Power Plant (NPP), cyber security is becoming more and more important. Regulatory guide (KINS/GT-N27) requires that implementation plan for cyber security be prepared in NPP. Regulatory guide recommends the following 4 processes: 1) an asset analysis of MMIS, 2) a vulnerability analysis of MMIS, 3) establishment of countermeasures, and 4) establishment of operational guideline for cyber security. Conventional method for the asset analysis is mainly performed with a table form for each asset. Conventional method requires a lot of efforts due to the duplication of information. This paper presents an asset analysis method using object oriented approach for the NPP

  6. Impact of the IFRS Adoption on Financial Assets and Liabilities. Empirical Evidence from Bucharest Stock Exchange

    Directory of Open Access Journals (Sweden)

    Maria Carmen HUIAN

    2015-12-01

    Full Text Available The aim of this paper is to study the impact of the transition to IFRS on financial assets and liabilities reported by non-financial companies listed on the Bucharest Stock Exchange. It uses data from the individual financial statements for the comparative year 2011, prepared under both Romanian accounting standards (RAS and IFRS. Through a set of financial ratios involving information from balance sheet, income statement and cash flow statement, we study how the IFRS adoption affected financial assets and liabilities. We also test the empirical correlation between profitability (measured by ROE and financial assets/ liabilities before and after the transition to IFRS. We find that financial instruments are very little affected by the change in the accounting system. However, the association between ROE and financial assets/ liabilities is of greater intensity for the IFRS data.

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

    OpenAIRE

    2008-01-01

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

  8. METHODS AND WAYS OF MANAGING INTANGIBLE ASSETS IN THE ROMANIAN ECONOMY

    Directory of Open Access Journals (Sweden)

    Alexandru IOANCEA

    2011-09-01

    Full Text Available The term intangible is used to describe things that can be easily recognized but difficult to quantify. The best example is the intangible economic asset that is easy to describe but difficult to estimate in a particular economic theory.In the current economic theory, intangible economic assets , or intangible Assets are identifiable non-monetary goods specific for property and intellectual capital, beyond physical substance, containing knowledge as the results of research and development (patents, certificates of innovative concepts, specialized treatment, documentation, scientific brands or trademarks, trade secrets and industrial titles advertising, software licensing, copyright, license usage, etc..This paper presents a macroeconomic model to quantify intangible assets during 1991-2009. The model can be used to develop forecasts for the next period.

  9. Impact of bankruptcy through asset portfolios. Network analytic solution unveils 1990s Japanese banking crisis

    Science.gov (United States)

    Sakamoto, Y.; Vodenska, I.

    2016-09-01

    We investigate the Japanese banking crisis in the late 1990s with a simple network based mathematical model, which allows us to simulate the crisis as well as to obtain new perspective through analytic solution of our network model. We effectively identify the actual bankrupted banks and the robustness of the banking system using a simulation model based on properties of a bi-partite bank-asset network. We show the mean time property and analytical solution of the model revealing aggregate time dynamics of bank asset prices throughout the banking crisis. The results disclose simple but fundamental property of asset growth, instrumental for understanding the bank crisis. We also estimate the selling pressure for each asset type, derived from a Cascading Failure Model (CFM), offering new perspective for investigating the phenomenon of banking crisis.

  10. Comparison analysis of enterprise intangible assets structure in Ukraine and over the world

    Directory of Open Access Journals (Sweden)

    D.A. Gorovyi

    2016-12-01

    Full Text Available One of the problems of Ukrainian enterprises at the present stage of economic development is the optimization the volume and structure of their assets through a tendency of their value underestimation. Only a small part of the intangible assets are displayed now on the balance of Ukrainian enterprises as intangible assets. This significantly reduces the competitiveness of enterprises at both the local and global markets. And due to that at M & A agreements or the procedure of IPO Ukrainian companies are undervalued, and they are considerably weaker and cheaper compared with foreign ones. The aim of the article. The aim of the article is to compare the structure of intangible assets, which are recognized in the financial statements of different countries, and to develop proposals on for intangible assets types differing in their structure on the Ukrainian enterprises. The results of the analysis. World practice shows quite different structure of intangible assets in different countries of the world. It was defined, that it is impossible to identify any one dominant element in the structure of intangible assets of all countries. Although the membership of investigated countries of Europe in a single economic organization - the European Union, and commonality of economic laws and the use of single currency euro by Netherlands, Germany, Italy, Spain, France, it should be noted that the intangible assets structure in each country is different, with different elements, which occupy the largest share. As the significant discrepancies in official data acquires, which are determined in the different countries, an attempt was made to summarize the data, if only to bring them into a single structure. Due to it was made the simplification, according to which all components of the intangible assets of these countries have been grouped for the three categories, which are often defined in the financial statements: brand, information resources and people

  11. The methodical substantiation of measures to improve the use of basic production assets of the enterprise

    Directory of Open Access Journals (Sweden)

    Korol Svetlana Anatolevna

    2013-07-01

    Full Text Available The method of calculating the performance measures to improve the use of basic production assets of the enterprise: production cost, production volume, number of additional workers, depreciation and amortization.

  12. Evolution of China’s Financial Asset Mix from 1991 to 2007

    Institute of Scientific and Technical Information of China (English)

    易纲; 宋旺

    2009-01-01

    In 1996,the first author of this essay manifested that financial assets structure of China,which was then dominated by indirect financing,had led to many problems in the economy.After more than ten years of financial reform,has the financial assets structure been improved?Can the existing financial assets structure accommodate the development of Chinese economy?This paper tries to answer the above questions by reanalyzing the current financial structure in China.It is found that the financial asset structure of China has experienced obvious improvement.Meanwhile the new structure has brought some new problems which ought to be resolved by further improvement of monetary market and capital market.In the coming ten years,the optimal path for the development of China’s financial market is through twoway opening.

  13. Combining household income and asset data to identify livelihood strategies and their dynamics

    DEFF Research Database (Denmark)

    Walelign, Solomon Zena; Pouliot, Mariéve; Larsen, Helle Overgaard

    2017-01-01

    Current approaches to identifying and describing rural livelihood strategies, and household movements between strategies over time, in developing countries are imprecise. Here we: (i) present a new statistical quantitative approach combining income and asset data to identify household activity...... choice variables, characterise livelihood strategy clusters, and analyse movements between strategies, and (ii) apply the approach using an environmentally-augmented three-wave household (n = 427) level panel dataset from Nepal. Combining income and asset data provides a better understanding...... of livelihood strategies and household movements between strategies over time than using only income or asset data. Most households changed livelihood strategy at least once over the two three-year periods. A common pathway out of poverty included an intermediate step during which households accumulate assets...

  14. Analysis on Assets Management of University%浅析高校资产管理

    Institute of Scientific and Technical Information of China (English)

    周静

    2012-01-01

    In order to make the assets management of university more efficient and scientific, this article puts forward the corresponding reform measures and methods in aspects of improving assets management of university and maintaining the safe operation of assets, aiming at the disadvantages existing in current process of assets management of university.%为了使高校资产的管理更加高效科学,本文针对当前高校资产管理过程中存在的弊端,在建立健全高校资产管理,维护资产运行安全方面,提出了相应的改革措施和方法.

  15. IDENTIFICATION OF NATIONAL AND INTERNATIONAL REGULATIONS ON ACCOUNTING DEPRECIATION OF TANGIBLE FIXED ASSETS

    Directory of Open Access Journals (Sweden)

    Lumbo Flavio MUCOMO

    2016-07-01

    Full Text Available Amortization is the process of gradual recovery of the financial result in irreversible impairment of assets, charges for the year by including the depreciation of the consideration of the duration determined by the projected operating assets, as amortization. Impairment occurs as a result of their use within the entity, or due to the passage of time and the amount of this distribution is performed impairment on the value of new products, works, services or activities carried out using these tangible assets. This process of distribution requires that the conclusion of the economic circuit through profit distribution, works, services or activities harnessed to separate or recover from revenue from that part of the value that was included in the operating cost of title reduction in value. Such amortization is considered separately in depreciation fund which is a power source of the fund's agent economic. Depreciation serves to correct the value of assets to bring to a value closer to reality.

  16. 18 CFR 367.1740 - Account 174, Miscellaneous current and accrued assets.

    Science.gov (United States)

    2010-04-01

    ... POWER ACT AND NATURAL GAS ACT Balance Sheet Chart of Accounts Current and Accrued Assets § 367.1740... FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY REGULATIONS UNDER THE PUBLIC UTILITY...

  17. The Strategies of Internationa l E-Finance under Basel II: A Complementary Assets Approach

    OpenAIRE

    Hong-Jen Lin

    2007-01-01

    This article adopts the complementary assets model to analyze the environmental issues of international e-finance under the new Base l Accord (Basel II). The capability of a bank to comply with Basel II is regarded as the complementary assets and the e-finance is treated as the innovative new technology in the model. Based on the analysis, several strategies that bankers may take are suggested. The analysis shows that Basel II will obviously foster more e-finance invest...

  18. Fixed Assets Fair Value and Historical Value – Practical Problems with Implementation and Interpretation

    Directory of Open Access Journals (Sweden)

    Krzysztof Zawadzki

    2009-06-01

    Full Text Available The article presents practical problems with implementation of fixed assets fair value during the acquisition processes. This has influence on the financial statements making and their research by accouters and auditors. In the article, the author would like to find the solution, how the fair value can be used on valuation of fixed assets and which method of it is better during the financial crisis period.

  19. The dependency of the banks' assets and liabilities: evidence from Germany

    OpenAIRE

    Memmel, Christoph; Schertler, Andrea

    2009-01-01

    Developments in risk-transfer instruments and risk management techniques in the last two decades have fundamentally changed how banks manage their assets and liabilities. In this document we show that, for all three sectors of German universal banks (private commercial banks, savings banks, and cooperative banks), asset-liability dependency declined over the period 1994-2007, the decline was strongest for those banks that use more than sector-average amounts of derivatives. Only in the case o...

  20. Essays in quantitative analysis of the effects of market imperfections on asset returns

    OpenAIRE

    DélÚze, Frédéric

    2014-01-01

    Financial assets prices are not always in perfect equilibrium and deviate from their fundamental values. The dramatic rise and fall of the stock market raises concern about the rationality of sudden changes in stock valuations. The mispricing of assets contributes to financial crises, which can damage the overall economy. This dissertation analyses the effect of market imperfections at different time horizons. Starting at a macroeconomic level with a change of currency, the first essay analys...

  1. Ethnic Minorities in Northern Mountains of Vietnam: Poverty, Income and Assets

    OpenAIRE

    Nguyen Viet, Cuong

    2012-01-01

    This study examines the asset and income pattern of poor ethnic minorities in Northern Mountains of Vietnam using data from a 2010 Northern Mountain Baseline Survey (NMBS) of the Second Northern Mountains Poverty Reduction Project and Vietnam Household Living Standard Survey (VHLSS) 2010. The poor ethnic minorities in Northern Mountains have lower assets and income than ethnic minorities in other regions. Their income is mainly from crops and livestock. Compared with Kinh/Hoa and ethnic minor...

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

    OpenAIRE

    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 influenc...

  3. Accountancy Modeling on Intangible Fixed Assets in Terms of the Main Provisions of International Accounting Standards

    Directory of Open Access Journals (Sweden)

    Riana Iren RADU

    2014-12-01

    Full Text Available Intangible fixed assets are of great importance in terms of progress of economic units. In recent years new approaches have been developed, additions to old standards so that intangible assets have gained a reputation both in the economic environment and in academia. We intend to develop a practical study on the main accounting approaches of the accounting modeling of the intangibles that impact on a company's brand development research PRORESEARCH SRL.

  4. International Consumption Risk Is Shared After All: An Asset Return View

    OpenAIRE

    Edith Liu; Karen Lewis

    2012-01-01

    International consumption risk sharing studies have largely ignored their models' counter-factual implications for asset returns although these returns incorporate direct market measures of risk. In this paper, we modify a canonical risk-sharing model to generate more plausible asset return behavior and then consider the effects on welfare gains. Matching the mean and variance of equity returns and the risk-free rate requires persistent consumption risk, leading to three main findings: (1) ri...

  5. International Consumption Risk Is Shared After All: An Asset Return View

    OpenAIRE

    Karen K. Lewis; Edith X. Liu

    2012-01-01

    International consumption risk sharing studies have largely ignored their models' counterfactual implications for asset returns although these returns incorporate direct market measures of risk. In this paper, we modify a canonical risk-sharing model to generate more plausible asset return behavior and then consider the effects on welfare gains. Matching the mean and variance of equity returns and the risk-free rate requires persistent consumption risk, leading to three main findings: (1) ris...

  6. Features of Intangible Assets Inventory Technique and the Recognition of Its Results

    OpenAIRE

    Nataliya Kantsedal

    2014-01-01

    Practical implementation of science-based inventory methodology promotes objective and reliable estimates of results for further interpretation in the accounting system, as well the decision-making on eliminated shortcomings and violations. The scope of the article is an analysis of the legal provisions of inventory of intangible assets and organizing the views of the individual authors to identify problem issues to be addressed in terms of specification of technique for intangible assets inv...

  7. ACCOUNTING OF PROVISIONS, CONTINGENT LIABILITIES, CONTINGENT ASSETS IN SCOPE OF IAS 37

    OpenAIRE

    Usul, Hayrettin; ÖZER KEÇE, Figen

    2016-01-01

    This study tries to gain an insight into thenumber 37 Provisions, Contingent Liabilities and Contingent Assets, one of theInternational Financial Reporting Standards. At first a general overview hasbeen provided about these concepts, and then under what circumstancesbusinesses accrue provisions, contingent liabilities and contingent assets andwhat kind of information related to the concepts about financial statementsshould be explained have been examined in detail. After these explanations, i...

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

    Institute of Scientific and Technical Information of China (English)

    2012-01-01

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

  9. Infrastructure Asset Management Modeling through an Analysis of the Air Force Strategic Vision and Goals

    Science.gov (United States)

    2012-03-01

    D.C.: Office of the Air Force Civil Engineer, 2008. [17] Robinson , C. Paul, Joan B. Woodard, and Samuel G. Varnado. Critical Infrastructure...interconnectedness of infrastructure links assets into a complex system of interrelated elements ( Robinson , Woodard, and Varnado, 1998:61). This concept of...interrelated elements ( Robinson , Woodard, and Varnado, 1998). This concept of infrastructure coupling correlates the state of one infrastructure asset to the

  10. HUMAN RESOURCES ACCOUNTING ACCOUNTING FOR THE MOST VALUABLE ASSET OF AN ENTERPRISE

    OpenAIRE

    2010-01-01

    Employees are the most important assets of an enterprise and its success or failure depends on their qualifications and performance. Human resources are not properly evaluated because the enterprises consider the wages, actually an investment in the qualification and improvement of the staff as expenditure and and not as an investment in the most important asset of an enterprise - the human capital. The current accounting system is not able to provide the actual value of employee capabilities...

  11. STRATEGICAL APPROACHES TO THE RISK MENAGEMENT OF NON-VIALE BANKS' FUNCIONING AND DISTRESSED ASSETS SERVISING

    Directory of Open Access Journals (Sweden)

    V. Mishchenko

    2014-09-01

    Full Text Available It was researched conditions of non-viable banks appearance, was characterized modern approaches to non-viable banks and distressed assets management, was determined the strategical approaches to withdrawal non-viable banks from the market, was grounded risk-management mechanism in stress conditions as a result of systemic disbalances in banking system of Ukraine and risks of non-viable banks functioning and distressed assets management.

  12. Broadening the influence of asset managers through the six principles of persuasion

    OpenAIRE

    Swart, Petrus Daniel; Vlok, P. J.; Jooste, Johannes Lodewyk

    2016-01-01

    Asset managers (AMRs) have long struggled to influence others within their organisations to support Asset Management (AM) practices. This dilemma was further highlighted with the issuance of the AM suite of standards, ISO 55000. This paper explores an alternative approach to existing influence and change management approaches. Social psychology, and more specifically Robert Cialdini’s ‘six principles of persuasion’, have benefited advertisers, lawyers, and even waiters in their respective pro...

  13. The Sensitivity of Capital Services Measurement: Measure all assets and the cost of capital

    OpenAIRE

    Inklaar, Robert

    2008-01-01

    The measurement of capital inputs is still a contentious issue: many choices have to be made that have potentially large effects on the resulting capital input series, some entailing differing assumptions about firm behaviour. This paper compares a large number of methodological choices and their impact on US capital services growth at the industry and aggregate level. The results show that measuring all assets, in particular intangible assets, and the choice for the rate of return matter sub...

  14. Discovering the best: Informational efficiency and liquidity of alternative trading mechanisms in experimental asset markets

    OpenAIRE

    2001-01-01

    This paper reports the results of 18 experimental asset markets with 262 subjects that explore the effects of liquidity and aggregation of information. The main focus lies on the comparison of different trading mechanisms of stock exchanges. Compared to most of financial markets experiments, reality is met by introducing long-living assets and integrating all subjects in a multi-period decision-making process. In accordance with the evidence from the empirical research in real financial marke...

  15. 39 CFR 3060. 30 - Statement of allocated assets and liabilities for competitive products.

    Science.gov (United States)

    2010-07-01

    ...: Total net assets Cash and Cash Equivalents $x,xxx $x,xxx $x,xxx Net Accounts Receivable x,xxx x,xxx x,xxx Supplies, Advances and Prepayments x,xxx x,xxx x,xxx Appropriations Receivable—Revenue Forgone x,xxx x,xxx x,xxx Total Current Assets x,xxx x,xxx x,xxx Property and Equipment:......

  16. An alternative method to estimate WiP inventory for cultivated assets

    OpenAIRE

    野村, 浩二

    2006-01-01

    The objectives of this paper are to describe the problems with the current estimates for WiP inventories of cultivated assets in Japan's system of national accounts and to propose an alternative method of dealing with these assets. There is a huge di erence between inventory stock measurement that are compiled according to the 1968 SNA versus the 1993 SNA for Japan's national accounts. This leads to non-negligible di erences for productivity measures when inventories are treated as a capital ...

  17. Limits to international diversification in oil and gas -domestic vs foreign asset control

    OpenAIRE

    2010-01-01

    We provide evidence that international diversification in the oil and gas sector comes at an important cost; lower control over foreign oilfield assets (and therefore reduced control over oilfield cash-flows). This work examines the factors that drive companies to diversify despite the loss of control over oilfields. Detailed worldwide data for 293 companies owning 6633 field stakes enable us to demonstrate that diversification increases with firm size but results in lower asset control - wit...

  18. 26 CFR 1.861-12T - Characterization rules and adjustments for certain assets (temporary).

    Science.gov (United States)

    2010-04-01

    ... reserved. Paragraph (j) of this section sets forth an example illustrating the rules of this section, as... $2 million. Thus, X's debt-to-asset ratio computed under § 1.861-10T(e)(1)(i) is 1 to 2. Step 2. The...-asset ratio computed under § 1.861-10T(e)(1)(ii) is $0 to $500,000. Step 3. Y's average...

  19. Power generation assets. Energy constraints, upper bounds and hedging strategies

    Energy Technology Data Exchange (ETDEWEB)

    Enge, Thomas

    2010-09-20

    The overall topic of this thesis is the valuation of power generation assets under energy and risk constraints. Our focus is on the modeling aspect i.e. to find the right balance between accuracy and computational feasibility. We define a new not yet investigated unit commitment problem that introduces an energy constraint to a thermal power plant. We define a continuous stochastic dynamic program with a nested mixed integer program (MIP). We introduce a fast implementation approach by replacing the MIP with an efficient matrix calculation and use principal component analysis to reduce the number of risk factors. We also provide a fast heuristic valuation approach for comparison. As both models can only provide lower bounds of the asset value, we investigate the theory of upper bounds for a proper validation of our power plant results. We review the primal dual algorithm for swing options by Meinshausen and Hambly and in particular clarify their notation and implementation. Then we provide an extension for swing options with multiple exercises at the same stage that we developed together with Prof. Bender, University of Braunschweig. We outline Prof. Bender's proof and describe the implementation in detail. Finally we provide a risk analysis for our thermal power plant. In particular we investigate strategies to reduce spot price risk to which power plants are significantly exposed. First, we focus on the measurement of spot price risk and propose three appropriate risk figures (Forward delta as opposed to Futures delta, synthetic spot delta and Earnings-at-Risk) and illustrate their application using a business case. Second we suggest risk mitigation strategies for both periods, before and in delivery. The latter tries to alter the dispatch policy i.e. pick less risky hours and accept a (desirably only slightly) smaller return. We introduce a benchmark that weighs risk versus return and that we will call EaR-efficient option value. We propose a mitigation

  20. Casting a Resource-Based View on Intangible Assets and Export Behaviour

    Directory of Open Access Journals (Sweden)

    Seyyed Mohammad Tabatabaei Nasab

    2013-09-01

    Full Text Available Prosperous companies in the 21st century have come to know the necessity of intangible assets as an important factor to achieve sustainable competitive advantage and constant presence in the international markets. Hence, the purpose of this paper is to examine intangible assets and evaluate its relationship with export behaviour in terms of export intensity (Export-Sales Ratio and export type (Permanent, Occasional & Periodical. The population under study includes all export firms during 2002 until 2010 in Yazd province, Iran. Research data were collected by questionnaire and in order to answer the research questions and testing hypotheses, MCDM techniques (i.e. AHP & TOPSIS and statistical analysis (i.e. ANOVA were utilized. According to the research results, human capital, relational capital, technological capital, corporate reputation, and structural capital placed as the first to the fifth significant factors respectively. Findings revealed that there is a significant difference between the permanent and occasional presence in the international markets regarding intangible assets; as the mean of intangible assets in the firms with permanent export is higher than the mean of intangible assets in the firms with occasional export. However, there is no significant difference between intangible assets and the export intensity.

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

    Science.gov (United States)

    Sairam, Nivedita; Nagarajan, Sudhagar; Ornitz, Scott

    2016-03-12

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

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

    Science.gov (United States)

    Sairam, Nivedita; Nagarajan, Sudhagar; Ornitz, Scott

    2016-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Nivedita Sairam

    2016-03-01

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

  4. RECOGNITION AND VALUATION OF BIOLOGICAL ASSETS IN TOURISM AREA. INTERNATIONAL ACCOUNTING STANDARDS

    Directory of Open Access Journals (Sweden)

    Mirela NICHITA

    2009-06-01

    Full Text Available Consistent with the Financial Reporting Standards Board's international convergence and harmonization policy it is proposed that a new accounting regime will prescribe the financial reporting practice and minimum disclosure requirements for agricultural activities, including the fair value of biological assets. In any financial report, the inclusion of biological assets may confuse the reality of the income profit and the wealth profit. There are many reasons it may provide misleading figures, the most obvious would be because the entity may have reported the value of heritage properties that do not actually generate any income but rather they are properties, which actually generate expenses for the entity, for example in maintenance costs. For any regime that requires entities to account and report on biological assets there should be a clear classification system that takes into account the different types of ownership structures in a society. Therefore in Romania, it is important that any financial reporting regime on biological assets should provide for the difference between business assets and cultural assets.

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2014-06-01

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

  6. Successful Community Midwives in Pakistan: An Asset-Based Approach.

    Science.gov (United States)

    Mumtaz, Zubia; Levay, Adrienne V; Bhatti, Afshan

    2015-01-01

    In response to the low levels of skilled birth attendance in rural Pakistan, the government introduced a new cadre of community midwives (CMWs) in 2006. Assessments to-date have found that these CMWs have yet to emerge as significant providers for a number of sociocultural, geographic and financial reasons. However, a small number of CMWs have managed to establish functional practices in the private sector in conservative, infrastructure-challenged rural contexts. With an objective to highlight "what are the successful CMWs doing right given their context?" this paper adopts an asset-based approach to explore the experiences of the Pakistani CMWs who have managed to overcome the barriers and practice. We drew upon ethnographic data that was collected as part of a larger mixed methods study conducted in 2011-2012 in districts Jhelum and Layyah, Pakistan. Thirty eight CMWs, 45 other health care providers, 20 policymakers, 78 women, 35 husbands and 23 older women were interviewed. CMW clinics and practices were observed. Our data showed that only eight 8 out of 38 CMWs sampled were active providers. Poverty as a push factor to work and intrinsic individual-level characteristics that enabled the CMWs to respond successfully to the demands of the midwifery profession in the private sector emerged as the two key themes. Household poverty pushed the CMWs to work in this perceived low-status occupation. Their families supported them since they became the breadwinners. The successful CMWs also had an intrinsic sense of what was required to establish a private practice; they exhibited professionalism, had strong business sense and provided respectful maternity care. The study provides insight into how the program might improve its functioning by adapting its recruitment criteria to ensure selection of right candidates.

  7. Real options valuation and optimization of energy assets

    Science.gov (United States)

    Thompson, Matthew

    In this thesis we present algorithms for the valuation and optimal operation of natural gas storage facilities, hydro-electric power plants and thermal power generators in competitive markets. Real options theory is used to derive nonlinear partial-integro-differential equations (PIDEs) for the valuation and optimal operating strategies of all types of facilities. The equations are designed to incorporate a wide class of spot price models that can exhibit the same time-dependent, mean-reverting dynamics and price spikes as those observed in most energy markets. Particular attention is paid to the operational characteristics of real energy assets. For natural gas storage facilities these characteristics include: working gas capacities, variable deliverability and injection rates and cycling limitations. For thermal power plants relevant operational characteristics include variable start-up times and costs, control response time lags, minimum generating levels, nonlinear output functions, structural limitations on ramp rates, and minimum up/down time restrictions. For hydro-electric units, head effects and environmental constraints are addressed. We illustrate the models with numerical examples of a gas storage facility, a hydro-electric pump storage facility and a thermal power plant. This PIDE framework is the first in the literature to achieve second order accuracy in characterizing the operating states of hydro-electric and hydro-thermal power plants. The continuous state space representation derived in this thesis can therefore achieve far greater realism in terms of operating state specification than any other method in the literature to date. This thesis is also the first and only to allow for any continuous time jump diffusion processes in order to account for price spikes.

  8. The Assets of Knowledge Society in Oman: People and ICT

    Directory of Open Access Journals (Sweden)

    Samia Al Hadi

    2014-09-01

    Full Text Available The technological progress has been considered as driver of overall development in the world and a lot of countries have adopted a diversified economic growth model such as Oman. Oman is a Middle Eastern country with an economy that relies heavily on Oil. As part of its 2020 vision aiming at sustaining social and economic growth and development, Oman has been seeking to develop a Knowledge Society (KS. This paper focuses on people and ICT as important and vital assets and resources to successfully develop a KS. The main objectives of this paper are the following:  To investigate the role of people and ICT in developing the Knowledge Society in Oman  To propose a framework on how to involve people in developing KS in Oman  To identify how to align the development of the Knowledge Society with the human resource development in Oman The main research method used in this paper is interview. Also, secondary sources such as books and online journals are utilized to get the maximum understanding of the topic of the research. The results of this project are expected to show how Oman KS project affects the development of human resources, their life and their work. Moreover, the finding of this project shows that for Oman to develop KS, there are certain areas that have to be considered such as ICT infrastructure and training of human resources. The development of human capacity is essential in developing the KS in Oman. The main concern is to focus on the development of education as it is the key investment in humans. This paper seeks to develop a framework for involving people in KS development and aligning KS development to go along with human resources development.

  9. Electronic integrated disease surveillance system and pathogen asset control system.

    Science.gov (United States)

    Wahl, Tom G; Burdakov, Aleksey V; Oukharov, Andrey O; Zhilokov, Azamat K

    2012-06-20

    Electronic Integrated Disease Surveillance System (EIDSS) has been used to strengthen and support monitoring and prevention of dangerous diseases within One Health concept by integrating veterinary and human surveillance, passive and active approaches, case-based records including disease-specific clinical data based on standardised case definitions and aggregated data, laboratory data including sample tracking linked to each case and event with test results and epidemiological investigations. Information was collected and shared in secure way by different means: through the distributed nodes which are continuously synchronised amongst each other, through the web service, through the handheld devices. Electronic Integrated Disease Surveillance System provided near real time information flow that has been then disseminated to the appropriate organisations in a timely manner. It has been used for comprehensive analysis and visualisation capabilities including real time mapping of case events as these unfold enhancing decision making. Electronic Integrated Disease Surveillance System facilitated countries to comply with the IHR 2005 requirements through a data transfer module reporting diseases electronically to the World Health Organisation (WHO) data center as well as establish authorised data exchange with other electronic system using Open Architecture approach. Pathogen Asset Control System (PACS) has been used for accounting, management and control of biological agent stocks. Information on samples and strains of any kind throughout their entire lifecycle has been tracked in a comprehensive and flexible solution PACS.Both systems have been used in a combination and individually. Electronic Integrated Disease Surveillance System and PACS are currently deployed in the Republics of Kazakhstan, Georgia and Azerbaijan as a part of the Cooperative Biological Engagement Program (CBEP) sponsored by the US Defense Threat Reduction Agency (DTRA).

  10. Electronic Integrated Disease Surveillance System and Pathogen Asset Control System

    Directory of Open Access Journals (Sweden)

    Tom G. Wahl

    2012-06-01

    Full Text Available Electronic Integrated Disease Surveillance System (EIDSS has been used to strengthen and support monitoring and prevention of dangerous diseases within One Health concept by integrating veterinary and human surveillance, passive and active approaches, case-based records including disease-specific clinical data based on standardised case definitions and aggregated data, laboratory data including sample tracking linked to each case and event with test results and epidemiological investigations. Information was collected and shared in secure way by different means: through the distributed nodes which are continuously synchronised amongst each other, through the web service, through the handheld devices. Electronic Integrated Disease Surveillance System provided near real time information flow that has been then disseminated to the appropriate organisations in a timely manner. It has been used for comprehensive analysis and visualisation capabilities including real time mapping of case events as these unfold enhancing decision making. Electronic Integrated Disease Surveillance System facilitated countries to comply with the IHR 2005 requirements through a data transfer module reporting diseases electronically to the World Health Organisation (WHO data center as well as establish authorised data exchange with other electronic system using Open Architecture approach. Pathogen Asset Control System (PACS has been used for accounting, management and control of biological agent stocks. Information on samples and strains of any kind throughout their entire lifecycle has been tracked in a comprehensive and flexible solution PACS.Both systems have been used in a combination and individually. Electronic Integrated Disease Surveillance System and PACS are currently deployed in the Republics of Kazakhstan, Georgia and Azerbaijan as a part of the Cooperative Biological Engagement Program (CBEP sponsored by the US Defense Threat Reduction Agency (DTRA.

  11. Successful Community Midwives in Pakistan: An Asset-Based Approach.

    Directory of Open Access Journals (Sweden)

    Zubia Mumtaz

    Full Text Available In response to the low levels of skilled birth attendance in rural Pakistan, the government introduced a new cadre of community midwives (CMWs in 2006. Assessments to-date have found that these CMWs have yet to emerge as significant providers for a number of sociocultural, geographic and financial reasons. However, a small number of CMWs have managed to establish functional practices in the private sector in conservative, infrastructure-challenged rural contexts. With an objective to highlight "what are the successful CMWs doing right given their context?" this paper adopts an asset-based approach to explore the experiences of the Pakistani CMWs who have managed to overcome the barriers and practice. We drew upon ethnographic data that was collected as part of a larger mixed methods study conducted in 2011-2012 in districts Jhelum and Layyah, Pakistan. Thirty eight CMWs, 45 other health care providers, 20 policymakers, 78 women, 35 husbands and 23 older women were interviewed. CMW clinics and practices were observed. Our data showed that only eight 8 out of 38 CMWs sampled were active providers. Poverty as a push factor to work and intrinsic individual-level characteristics that enabled the CMWs to respond successfully to the demands of the midwifery profession in the private sector emerged as the two key themes. Household poverty pushed the CMWs to work in this perceived low-status occupation. Their families supported them since they became the breadwinners. The successful CMWs also had an intrinsic sense of what was required to establish a private practice; they exhibited professionalism, had strong business sense and provided respectful maternity care. The study provides insight into how the program might improve its functioning by adapting its recruitment criteria to ensure selection of right candidates.

  12. Strengthening of Asset Management in Universities Using "Large Asset" Model%以大资产模式强化高等学校资产的管理

    Institute of Scientific and Technical Information of China (English)

    刘海林

    2012-01-01

    分析了高等学校资产管理存在的问题,介绍了资产生命周期管理的概念,提出了用大资产模式进行管理的理念和方法:以工作流平台和数据流平台结合为前提,以专业化、信息化和精细化管理为手段,以过程的动态监控为管理保障,实现高等学校资产管理过程中的信息畅通、数据共享、沟通及时,从而进一步提升管理水平和管理绩效.%This paper analyzed the current problems of assets management in colleges and universities, described the concept of "asset lifecycle management", proposed model of "large assets". The concept is based on the premise of workflow and data stream with the method of specialization, informatization and refinement, using dynamic monitor as management measures to strengthen management, data sharing, and timely communication so as to enhance management and performance. This paper can provide reference for asset management in colleges and universities.

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

    Directory of Open Access Journals (Sweden)

    Ming Dong

    2010-01-01

    Full Text Available The primary objective of engineering asset management is to optimize assets service delivery potential and to minimize the related risks and costs over their entire life through the development and application of asset health and usage management in which the health and reliability prediction plays an important role. In real-life situations where an engineering asset operates under dynamic operational and environmental conditions, the lifetime of an engineering asset is generally described as monitored nonlinear time-series data and subject to high levels of uncertainty and unpredictability. It has been proved that application of data mining techniques is very useful for extracting relevant features which can be used as parameters for assets diagnosis and prognosis. In this paper, a tutorial on nonlinear time-series data mining in engineering asset health and reliability prediction is given. Besides that an overview on health and reliability prediction techniques for engineering assets is covered, this tutorial will focus on concepts, models, algorithms, and applications of hidden Markov models (HMMs and hidden semi-Markov models (HSMMs in engineering asset health prognosis, which are representatives of recent engineering asset health prediction techniques.

  14. ISSUES RELATED TO THE ACCOUNTING TREATMENT OF THE TANGIBLE AND INTANGIBLE ASSETS DEPRECIATION

    Directory of Open Access Journals (Sweden)

    Danciu Radu

    2011-12-01

    Full Text Available The issue of accounting depreciation is an older concern of this study's authors on the incidence over the true and fair view of the earning and the net value of the non- current assets. Proceeding from the consideration that the present depreciation methods, acknowleged by the accounting standards and regulations are not sufficient to render the reality of the irreversible impairment of the fixed assets nor that of the material and immaterial investment recovery we performed a research on the indicators reported by 20 companies in Cluj county and we applied a questionnaire to each entity on the depreciation methods used, their incidence on the true and fair view and their proposals for the completion of the depreciation methods. The objective of the research is to identify the most appropriate depreciation methods, truthfully illustrating the effects of the irreversible impairment on the net asset and on the earning, to introduce the excluded assests in the cathegory of the non-current assets ( like property and plant, goodwill, intangible assets created with ones own strengths and the enforcement of appropriate treatments to the revaluation differences and their own overhead investments. The International Accounting Standard IAS 16 - Property, plant and equipment refers to three depreciation methods: the straightline method, the diminishing balance method and the technical depreciation method (units of production method. In Romania only two of these methods are accepted: the straightline method, the diminishing balance method and the accelerated method was additionally instilled, which is used internationally in exceptional situations and not currently. The results of the research led us to the following conclusions: - for the depreciation of the machinery, facilities and technological equipments it is recommended to use the technical depreciation method or the units of production method; -taking into consideration the financial conception on

  15. Distributed Smart Grid Asset Control Strategies for Providing Ancillary Services

    Energy Technology Data Exchange (ETDEWEB)

    Kalsi, Karanjit; Zhang, Wei; Lian, Jianming; Marinovici, Laurentiu D.; Moya, Christian; Dagle, Jeffery E.

    2013-10-30

    With large-scale plans to integrate renewable generation driven mainly by state-level renewable portfolio requirements, more resources will be needed to compensate for the uncertainty and variability associated with intermittent generation resources. Distributed assets can be used to mitigate the concerns associated with renewable energy resources and to keep costs down. Under such conditions, performing primary frequency control using only supply-side resources becomes not only prohibitively expensive but also technically difficult. It is therefore important to explore how a sufficient proportion of the loads could assume a routine role in primary frequency control to maintain the stability of the system at an acceptable cost. The main objective of this project is to develop a novel hierarchical distributed framework for frequency based load control. The framework involves two decision layers. The top decision layer determines the optimal gain for aggregated loads for each load bus. The gains are computed using decentralized robust control methods, and will be broadcast to the corresponding participating loads every control period. The second layer consists of a large number of heterogeneous devices, which switch probabilistically during contingencies so that aggregated power change matches the desired amount according to the most recently received gains. The simulation results show great potential to enable systematic design of demand-side primary frequency control with stability guarantees on the overall power system. The proposed design systematically accounts for the interactions between the total load response and bulk power system frequency dynamics. It also guarantees frequency stability under a wide range of time varying operating conditions. The local device-level load response rules fully respect the device constraints (such as temperature setpoint, compressor time delays of HVACs, or arrival and departure of the deferrable loads), which are crucial for

  16. The ASSET intercomparison of stratosphere and lower mesosphere humidity analyses

    Directory of Open Access Journals (Sweden)

    H. E. Thornton

    2009-02-01

    Full Text Available This paper presents results from the first detailed intercomparison of stratosphere-lower mesosphere water vapour analyses; it builds on earlier results from the EU funded framework V "Assimilation of ENVISAT Data" (ASSET project. Stratospheric water vapour plays an important role in many key atmospheric processes and therefore an improved understanding of its daily variability is desirable. With the availability of high resolution, good quality Michelson Interferometer for Passive Atmospheric Sounding (MIPAS water vapour profiles, the ability of four different atmospheric models to assimilate these data is tested. MIPAS data have been assimilated over September 2003 into the models of the European Centre for Medium Range Weather Forecasts (ECMWF, the Belgian Institute for Space and Aeronomy (BIRA-IASB, the French Service d'Aéronomie (SA-IPSL and the UK Met Office. The resultant middle atmosphere humidity analyses are compared against independent satellite data from the Halogen Occultation Experiment (HALOE, the Polar Ozone and Aerosol Measurement (POAM III and the Stratospheric Aerosol and Gas Experiment (SAGE II. The MIPAS water vapour profiles are generally well assimilated in the ECMWF, BIRA-IASB and SA systems, producing stratosphere-mesosphere water vapour fields where the main features compare favourably with the independent observations. However, the models are less capable of assimilating the MIPAS data where water vapour values are locally extreme or in regions of strong humidity gradients, such as the southern hemisphere lower stratosphere polar vortex. Differences in the analyses can be attributed to the choice of humidity control variable, how the background error covariance matrix is generated, the model resolution and its complexity, the degree of quality control of the observations and the use of observations near the model boundaries. Due to the poor performance of the Met Office analyses the results are not included in

  17. Low-cost asset tracking using location-aware camera phones

    Science.gov (United States)

    Chen, David; Tsai, Sam; Kim, Kyu-Han; Hsu, Cheng-Hsin; Singh, Jatinder Pal; Girod, Bernd

    2010-08-01

    Maintaining an accurate and up-to-date inventory of one's assets is a labor-intensive, tedious, and costly operation. To ease this difficult but important task, we design and implement a mobile asset tracking system for automatically generating an inventory by snapping photos of the assets with a smartphone. Since smartphones are becoming ubiquitous, construction and deployment of our inventory management solution is simple and costeffective. Automatic asset recognition is achieved by first segmenting individual assets out of the query photo and then performing bag-of-visual-features (BoVF) image matching on the segmented regions. The smartphone's sensor readings, such as digital compass and accelerometer measurements, can be used to determine the location of each asset, and this location information is stored in the inventory for each recognized asset. As a special case study, we demonstrate a mobile book tracking system, where users snap photos of books stacked on bookshelves to generate a location-aware book inventory. It is shown that segmenting the book spines is very important for accurate feature-based image matching into a database of book spines. Segmentation also provides the exact orientation of each book spine, so more discriminative upright local features can be employed for improved recognition. This system's mobile client has been implemented for smartphones running the Symbian or Android operating systems. The client enables a user to snap a picture of a bookshelf and to subsequently view the recognized spines in the smartphone's viewfinder. Two different pose estimates, one from BoVF geometric matching and the other from segmentation boundaries, are both utilized to accurately draw the boundary of each spine in the viewfinder for easy visualization. The BoVF representation also allows matching each photo of a bookshelf rack against a photo of the entire bookshelf, and the resulting feature matches are used in conjunction with the smartphone

  18. THE ASSET PRICE CHANNEL AND ITS ROLE IN MONETARY POLICY TRANSMISSION

    Directory of Open Access Journals (Sweden)

    Dan Horatiu

    2013-07-01

    Full Text Available his paper addresses the subject of the monetary policy transmission mechanism by focusing on the asset price channel, which is the monetary transmission channel responsible for the propagation of the effects induced by the monetary policy decisions made by the central bank that affect the price of assets. We will analyze the asset price channel by taking a close look at its structure, internal processes and the way it delivers monetary policy throughout the economy, ultimately influencing key variables such as the unemployment rate and the levels of consumption and production. After an introduction dealing with the entire monetary transmission mechanism, its role and purposes, we will focus on the particularities of the asset price channel and the two main ways in which it delivers monetary policy decision effects: through changes in Tobin’s q value, which is the ratio between the market value of a given company and its replacement cost of capital, and through the effect of wealth, both of financial and housing nature, on consumption. In our study, we will consider theoretical aspects and observations, but also empirical evidence that highlights that the exact way in which the asset price channel functions may differ from one economy to another due to differences in the structures of the respective economies and differences in psychology and cultural values of consumers. The deep understanding of the asset price transmission channel is very important for any central bank, as this is the channel that governs key aspects of monetary policy transmission linked to the market value of assets and individual wealth. These values have, as we will see in more detail throughout the paper, an important impact on both consumption and investment, two economic actions that can help the economy, but can also prove to be a crucial element in starting and perpetuating an economic crisis.

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

    Directory of Open Access Journals (Sweden)

    O.V. Kudyrko

    2013-06-01

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

  20. Assets Held for Sale and Discontinued Operations – Evaluation of Liquidity – Determination of Ratio – or Necessity of Adjustment?

    Directory of Open Access Journals (Sweden)

    Grazyna Voss

    2015-03-01

    Full Text Available The change in the use of an asset results from economic conditions and requires that a company revalue the asset and adjusts its value by costs of sale or liquidation. The current value of the asset determined in that way influences the financial result of the company and enables the movement of value from non-current assets to current assets. This change has an impact on the evaluation of financial situation and financial ratios.The aim of this article is to describe principles of measurement and presentation of assets held for sale and application of financial analysis in order to assess risks by potential investors. The purpose of this work constitutes part of a wide-ranging discussion on the directions of changes in financial reporting and principles of effective investing.