WorldWideScience

Sample records for blending private capital

  1. Privatization Financing Alternatives: Blending Private Capital and Public Resources for a Successful Project

    Energy Technology Data Exchange (ETDEWEB)

    BT Oakley; JH Holbrook; L Scully; MR Weimar; PK Kearns; R DiPrinzio

    1998-10-19

    The U.S. Department of Energy (DOE) launched the Contract Reform Initiative in 1994 in order to improve the effectiveness and effkiency of managing major projects and programs. The intent of this initiative is to help DOE harness both technical and market forces to reduce the overall cost of accomplishing DOE's program goals. The new approach transfers greater risk to private contractors in order to develop incentives that align contractor performance with DOE's objectives. In some cases, this goal can be achieved through public-private partnerships wherein the govermhent and the contractor share risks associated with a project in a way that optimizes its economics. Generally, this requires that project risks are allocated to the party best equipped to manage and/or underwrite them. While the merits of privatization are well documented, the question of how privatized services should be financed is often debated. Given the cost of private sector equity and debt, it is difficult to ignore the lure of the government's "risk free" cost of capital. However, the source of financing for a project is an integral part of its overall risk allocation, and therefore, participation by the government as a financing source could alter the allocation of risks in the project, diminishing the incentive structure. Since the government's participation in the project's financing often can be a requirement for financial feasibility, the dilemma of structuring a role for the government without undermining the success of the project is a common and difficult challenge faced by policymakers around the world. However, before reverting to a traditional procurement approach where the government enters into a cost-plus risk profile, the government should exhaust all options that keep the private entity at risk for important aspects of the project. Government participation in a project can include a broad range of options and can be applied with precision to bridge a

  2. Private Equity and Regulatory Capital

    NARCIS (Netherlands)

    Bongaerts, D.; Charlier, E.

    2008-01-01

    Regulatory Capital requirements for European banks have been put forward in the Basel II Capital Framework and subsequently in the Capital Requirements Directive (CRD) of the EU. We provide a detailed discussion of the capital requirements for private equity investments under the simple risk weight

  3. 13 CFR 108.230 - Private Capital for NMVC Companies.

    Science.gov (United States)

    2010-01-01

    ... VENTURE CAPITAL (âNMVCâ) PROGRAM Qualifications for the NMVC Program Capitalizing A Nmvc Company § 108.230 Private Capital for NMVC Companies. (a) General. Private Capital means the contributed capital of a NMVC... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Private Capital for NMVC Companies...

  4. Public Capital, Congestion and Private Production in Australia

    OpenAIRE

    Lei Lei Song

    2002-01-01

    This paper is an empirical investigation into the impact of public capital on the private sector’s economic activity in Australia. In particular, it is assumed that the contribution of public capital to private factor productivity is subject to congestion. New data sets of capital stocks and private output are constructed for the Australian economy. By estimating flexible functional forms of private sector production functions with congestion in public capital services, the paper shows that p...

  5. 7 CFR 4290.230 - Private Capital for RBICs.

    Science.gov (United States)

    2010-01-01

    ... partners' contributed capital of a Partnership RBIC, in each case subject to the limitations in paragraph... 7 Agriculture 15 2010-01-01 2010-01-01 false Private Capital for RBICs. 4290.230 Section 4290.230... Qualifications for the RBIC Program Capitalizing A Rbic § 4290.230 Private Capital for RBICs. (a) General...

  6. Venture Capital and Other Private Equity: A Survey

    OpenAIRE

    Andrew Metrick; Ayako Yasuda

    2010-01-01

    We review the theory and evidence on venture capital (VC) and other private equity: why professional private equity exists, what private equity managers do with their portfolio companies, what returns they earn, who earns more and why, what determines the design of contracts signed between (i) private equity managers and their portfolio companies and (ii) private equity managers and their investors (limited partners), and how/whether these contractual designs affect outcomes. Findings highlig...

  7. Determinants of Success in Private Equity-Venture Capital Investments

    OpenAIRE

    Antonio Gledson de Carvalho; Eduardo Madureira Rodrigues Siqueira; Humberto Gallucci Netto

    2011-01-01

    This paper investigates the determinants of performance of the investments of private equity and venture capital (PEVC) funds in Brazil. We use two unique databases: the First Brazilian Private Equity and Venture Capital Census and the Guia-GVcepe Endeavor, with information on this industry for the period 1999 to 2007. As measures of performance we use the percentage and number of exits through IPO, acquisition by a company or by another investor. Our results indicate that the factors influen...

  8. Funding Continuum for Private Business Owners: Evidence from the Pepperdine Private Capital Markets Project Survey

    OpenAIRE

    Maretno A. Harjoto; John K. Paglia

    2011-01-01

    The Pepperdine Private Capital Markets Project survey for business owners, administered during the spring of 2010, reveals an increasingly important role of friends and family (Friends/Family) to provide capital for privately-held businesses. Examining business owners’ perceptions of their sources of capital reveals that, overall, business owners prefer Friends/Family and angel financing as well as asset-based lenders and banks (ABL/Bank). Business owners consider Friends/Family financing to ...

  9. Venture capital and private equity investment preferences in selected countries

    Directory of Open Access Journals (Sweden)

    Krzysztof Dziekoński

    2016-01-01

    Full Text Available Sources of capital to finance companies in the SME sector is one of the basic conditions for the functioning and development of enterprises, especially in the early phase of their development. Increasingly popular is the use of capital market instruments, Private Equity, Venture Capital, Business Angels or Mezzanine. Funding of this kind can finance risky investments in return for a higher expected rate of return on capital. Access to financial resources and the conditions under which entrepreneurs can use them can determine the introduction of new technology, new products and services, expand distribution channels, implement changes that may lead to the growth in competitiveness and above all, innovation, thus the growth of the company. The paper presents results of statistical analysis of the venture capital and private equity funds investment strategies in selected countries. As a result investment profiles are created.

  10. Capital accumulation in private information economies

    Czech Academy of Sciences Publication Activity Database

    Boháček, Radim

    2005-01-01

    Roč. 5, č. 1 (2005), s. 1-22 ISSN 1534-5998 Institutional research plan: CEZ:AV0Z70850503 Keywords : moral hazard * capital accumulation Subject RIV: AH - Economics http://www.bepress.com/cgi/viewcontent.cgi?article=1172&context=bejm

  11. Companies investments on Private Equity/Venture Capital market

    Directory of Open Access Journals (Sweden)

    Zbigniew Drewniak

    2009-12-01

    Full Text Available One of the investors on Private Equity/Venture Capital market are corporations. The share of companies in total funds raised by PE/VC funds is still on the very low level. Beside indirect investments, companies invest directly, creating special entities in one corporate structure. Capital gains are one of the advantages of these investments for companies. However, the companies have also other purposes like the acquirement and the development of new technologies, as well as the transfer of knowledge. The participation of PE/VC fund in the investment process results in the support for company expansion and the creation of company value.

  12. Transnational Academic Capitalism in the Arab Gulf: Balancing Global and Local, and Public and Private, Capitals

    Science.gov (United States)

    Findlow, Sally; Hayes, Aneta L.

    2016-01-01

    This article contributes to the emerging theoretical construct of what has been called "transnational academic capitalism", characterised by the blurring of traditional boundaries between public, private, local, regional and international, and between market-driven and critically transformative higher education visions. Here we examine…

  13. Hospital safeguards capital program through private sector partnership.

    Science.gov (United States)

    Thomas, J; Lungo, A; Bobrow, M

    1984-02-01

    As access to capital tightens, more hospitals are exploring the benefits of partnerships with private companies. A California hospital, burdened by the long-term debt it incurred for a medical office building, worked together with its medical staff and an outside real estate developer. By selling the building to the developer, not only was the hospital able to finance a much-needed expansion and reconstruction project, but the hospital's medical staff had an opportunity to become limited partners in the ownership of the building.

  14. Determinants of Success in Private Equity-Venture Capital Investments

    Directory of Open Access Journals (Sweden)

    Antonio Gledson de Carvalho

    2011-06-01

    Full Text Available This paper investigates the determinants of performance of the investments of private equity and venture capital (PEVC funds in Brazil. We use two unique databases: the First Brazilian Private Equity and Venture Capital Census and the Guia-GVcepe Endeavor, with information on this industry for the period 1999 to 2007. As measures of performance we use the percentage and number of exits through IPO, acquisition by a company or by another investor. Our results indicate that the factors influencing the performance of investments are: size of the fund, number of investments, the practice of co-investment, experience and foreign origin of the managing organization, focus on late stage, intensity of contact between managers and portfolio companies and the number of seats on the boards of the invested companies. The number of successes grows with the number of investments at a declining rate. This can indicate 1 a limit to the ability of managers or 2 that a large number of investments allows for greater diversification of risk, directing investments to companies of high risk but with a high upside.

  15. Transport Emissions and Energy Consumption Impacts of Private Capital Investment in Public Transport

    Directory of Open Access Journals (Sweden)

    Yunqiang Xue

    2017-10-01

    Full Text Available Introducing private capital into the public transport system for its sustainable development has been increasing around the world. However, previous research ignores emissions and energy consumption impacts, which are important for private capital investment policy-making. To address this problem, the system dynamic (SD approach was used to quantitatively analyze the cumulative effects of different private capital investment models in public transport from the environmental perspective. The SD model validity was verified in the case study of Jinan public traffic. Simulation results show that the fuel consumption and emission reductions are obvious when the private capital considering passenger value invests in public transport compared with the no private capital investment and traditional investment models. There are obvious cumulative reductions for fuel consumption, CO2, CO, SO2, and PM10 emissions for 100 months compared with no private capital investment. This research verifies the superiority of the passenger value investment model in public transport from the environmental point of view, and supplies a theoretical tool for administrators to evaluate the private capital investment effects systematically.

  16. Framework for Human Capital Development in Nigeria: A Public-Private Partnership Approach.

    OpenAIRE

    Akande, Emmanuel

    2010-01-01

    This paper investigates the framework for human capital development in Nigeria through a public-private partnership (PPP) approach. No doubt, population of a country determines the subsisted human capital resources and this in turn determines the economic status of such country. Therefore, human capital development becomes a mantra for economic development. Unfortunately, government spending on education and health is so negligible as to make any meaningful impact on Nigerian economy. It is...

  17. Private equity and venture capital in South Africa: A comparison of project financing decisions

    Directory of Open Access Journals (Sweden)

    David Portmann

    2013-09-01

    Full Text Available This paper investigates the manner in which private equity and venture capital firms in South Africa assess investment opportunities. The analysis was facilitated using a survey containing both Likert-scale and open-ended questions. The key findings show that both private equity and venture capital firms rate the entrepreneur or management team higher than any other criterion or consideration. Private equity firms, however, emphasise financial criteria more than venture capitalists do. There is also an observable shift in the investment activities away from start-up funding, towards later-stage deals. Risk appetite has also declined post the financial crisis.

  18. 76 FR 39645 - Exemptions for Advisers to Venture Capital Funds, Private Fund Advisers With Less Than $150...

    Science.gov (United States)

    2011-07-06

    ... Exemptions for Advisers to Venture Capital Funds, Private Fund Advisers With Less Than $150 Million in Assets... Investment Advisers Registration Act of 2010--the new rules define ``venture capital fund'' and provide an... Venture Capital Strategy 8. Is a Private Fund 9. Application to Non-U.S. Advisers 10. Grandfathering...

  19. The Relationship Between the Intellectual Capital Disclosure and Cost of Debt Capital – A Case of Slovenian Private Audited Organisations

    Directory of Open Access Journals (Sweden)

    Stropnik Neca

    2017-12-01

    Full Text Available The existing empirical research into the association between intellectual capital disclosures by organisations and the cost of debt is scarce or is based solely on the samples of the (large listed organisations. Since agency issues between management/owners and lenders exist also in (large private organisations whose financing is greatly dependent on loans and whose audited annual reports can be a source of additional information for external users, we performed an empirical research to find the answer to the question whether the level of intellectual capital disclosure (as a whole and of its sub-categories of organisations is associated with the cost of their debt capital. Our study was performed on a sample of private Slovenian organisations with audited annual reports. The results of our research did not reveal that lenders would take into account intellectual capital disclosures by Slovenian private audited organisations as the information about the potential for their future cash flows when deciding on the cost of debt issued to these organisations.

  20. How do private entrepreneurs transform local social capital into economic capital? Four case studies from rural Denmark

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Kjeldsen, Chris; Noe, Egon

    2010-01-01

    In economic sociology, Bourdieu’s neo-capital theory (Bourdieu, 1986) has regularly been applied by sociologists, who reject the rational action theory (Anheier et al., 1995). However, we claim that Bourdieu’s key finding that forms of tangible and intangible capital (e.g. physical, economic......, social, symbolic) are being perpetually accumulated and converted by individuals can best be explained within a rational action framework. This framework should be seen as modified by specific social structures (Coleman, 1988) and, hence, characterized by uncertainty and risky investments....... Methodologically, we think that the ‘laws of conversion’ (Bourdieu, 1986:252-255) can best be observed at the micro level, by analyzing specific strings of capital conversion in time and space. Therefore, drawing on in-depth interviews with four private entrepreneurs in rural Denmark we try to analyze rational...

  1. Educational Leadership Based on Social Capital for Improving Quality of Private Secondary School

    Directory of Open Access Journals (Sweden)

    Suwadi

    2017-12-01

    Full Text Available This study aims to explain the leadership pattern of social capital based education for the quality improvement of private schools. The research is conducted at private Junior Secondary Level with a qualitative naturalistic approach. This location is in Sleman District. The subject consists of selected cases purposively. The research procedure is carried out by four steps and methods of obtaining the data through observation, indepth interview, and documentation. Data analysis was carried out by inductive model while the level of trust result of research was undertaken by fulfilling criteria of credibility, transferability, dependability and conformability. The research findings are as follows. First, the concept of leadership of social capital based education rests on the ability of principals to influence school resources to achieve goals through an integrated pattern of trust dimensions, reciprocal relationships and networking. Second, school quality can be improved through a school leadership in recognizing social capital, b school leadership in utilizing social capital, c school leadership in functioning social capital. Third, the utilization of social capital based on leadership in private schools in the form of a bridging stakeholder aspirations both initiated by schools and stakeholders; b bonding stakeholder relations with schools; c following up or responding to stakeholder resources in school programs as a perspective new leadership at school.

  2. Private equity y venture capital: Diferenciación y principales características

    Directory of Open Access Journals (Sweden)

    Leonel Arango Vásquez

    2015-03-01

    Full Text Available El propósito de este artículo es explicar, desde la teoría, dos posibles opciones de financiación que tienen las empresas cuando éstas no pueden acceder a las fuentes tradicionales. La industria del Capital Riesgo surge así como una fuente alternativa de financiación. Esta industria opera a través de vehículos especiales de inversión llamados fondos Private Equity y fondos Venture Capital. En general, los primeros invierten en compañías maduras y desarrolladas, mientras que los segundos lo hacen en empresas nacientes y pequeñas. El ciclo de financiación que proveen estos fondos se estructura en tres etapas principales: captación de recursos, inversión y desinversión. En este artículo se explica la diferencia entre los términos Private Equity y Venture Capital, así como las principales características de las etapas mencionadas.Palabras clave: desinversión; Capital Riesgo; captación de fondos; inversión alternativa; pymes. Private equity and venture capital: Differentiation and main characteristicsAbstractThe purpose of this article with a qualitative approach aims to determine, from the theory the business environment, when companies are not capable to obtain financing through traditional sources, the Private Equity industry is viewed as an alternative source of finance for those companies. This industry operates through special investment vehicles named Private Equity Funds and Venture Capital Funds. In general, the former invest in develop and mature firms, the latter focus on infant and small companies. The financial cycle that these funds supply is structured in three main phases: fundraising phase, investment phase, and divestment phase or exit. This paper explains the difference between Private Equity and Venture Capital, as well as the main characteristics of the mentioned phases; through the methodology of content analysis, which aims to continue the research project of Venture Capital Industry in Colombia

  3. Managing Debt and Capital Investments: A Toolbox for Private Colleges and Universities

    Science.gov (United States)

    Townsley, Michael K.

    2008-01-01

    All private colleges and universities make strategic capital investments and consider the use of debt to fund those investments. From the commonplace purchase of photocopiers to the construction of new academic buildings or dormitories, investment decisions that yield long-term financial benefits must follow on the heels of careful analysis. To…

  4. Corporate Governance and Intellectual Capital: Evidence from Public and Private Universities

    Science.gov (United States)

    Wahid, Akma Hidayu Dol Abdu; Abu, Nor Asyiqin; Latif, Wannoraini Abdul; Smith, Malcolm

    2013-01-01

    This study was conducted to examine the perception of academics towards intellectual capital (IC) and governance practice at two Malaysian universities: University A (a Public University) and University B (a Private University). It also examines the factors which contribute to the retention of qualified academics and the relationship between…

  5. Building a castle on sand: effects of mass privatization on capital market creation in transition economies

    Czech Academy of Sciences Publication Activity Database

    Fungáčová, Zuzana

    -, č. 256 (2005), s. 1-51 ISSN 1211-3298 R&D Projects: GA ČR GA402/05/1014 Institutional research plan: CEZ:AV0Z70850503 Keywords : mass privatization * emerging capital markets Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp256.pdf

  6. Public Knowledge, Private Knowledge: The Intellectual Capital of Entrepreneurs. NBER Working Paper No. 14797

    Science.gov (United States)

    Link, Albert; Ruhm, Christopher

    2009-01-01

    This paper focuses on the innovative actions of entrepreneurs, namely their tendency to reveal the intellectual capital that results from their research efforts either in the form of public knowledge (publications) or private knowledge (patents). Using data collected by the National Research Council within the U.S. National Academies from their…

  7. Private Transfer Choices under Uncertainty in Human Capital

    Directory of Open Access Journals (Sweden)

    Rodrigo J. Raad

    2015-03-01

    Full Text Available We develop a theoretical model for parental behavior regarding land inheritance, accounting for consumption and savings strategies. We identify two types of modeling: one with, and another without, strategic behavior. In the first model, we assume that children do not act strategically towards their parent. We find that the child with the highest return to human capital is more likely to receive a larger share of the land if the difference in offspring’s returns is large. In the second model, we allow for each child to influence parent’s optimal choice of bequest by providing services to the latter. We illustrate that the child’s strategy for service provision is sufficient to assure that the one providing more assistance will receive a larger share of the bequest in a Nash equilibrium. We conclude by illustrating our theoretical model with some empirical analysis using longitudinal data for the rural Brazilian Amazon.

  8. Private capital requirements for international biomass energy projects

    Energy Technology Data Exchange (ETDEWEB)

    Goldemberg, J [University of Sao Paulo, Sao Paulo (Brazil)

    1995-12-01

    In developing countries, the use of biomass for energy production faces two contradictory pressures. On the one hand, biomass costs very little and it is used inefficiently for fuel or charcoal production, leading to widespread destruction of forested areas and environmental degradation; this problem is being attenuated by the promotion, through aid programmes, of more efficient cook stoves for poor people. On the other hand, the conversion of biomass into high-grade fuel such as ethanol from sugar cane or burning urban refuse or gasifying it to produce electricity is not economically competitive at this time and requires subsidies of approximately 30% to make it as attractive as conventional fuels. Only electricity production using residues from sawmills, crops and other biomass by-products is competitive, and a number of plants are in operation in some countries, particularly the United States. For such plants, the usual rates of return and long-term contract purchases that characterize investments of this kind are applied. Although technologies are available for the widespread efficient use of biomass, the financial hurdle of high initial costs has impeded their market penetration, which in turn precludes any decline in costs that might otherwise have come from production increases. Intervention by governments or by GEF, justified on grounds of environmental protection, is needed to accelerate the introduction of the new technologies. The only private flows that are taking place at the moment are those from enlightened investors wishing to guarantee themselves a strong position in the area for the future or to preempt command and control regulations, such as carbon taxes, imposed by governments. The joint implementation of biomass technologies between industrialized and developing countries might be one method of accelerating this flow. (author) 9 refs, 4 figs, 3 tabs

  9. Private capital requirements for international biomass energy projects

    International Nuclear Information System (INIS)

    Goldemberg, J.

    1995-01-01

    In developing countries, the use of biomass for energy production faces two contradictory pressures. On the one hand, biomass costs very little and it is used inefficiently for fuel or charcoal production, leading to widespread destruction of forested areas and environmental degradation; this problem is being attenuated by the promotion, through aid programmes, of more efficient cook stoves for poor people. On the other hand, the conversion of biomass into high-grade fuel such as ethanol from sugar cane or burning urban refuse or gasifying it to produce electricity is not economically competitive at this time and requires subsidies of approximately 30% to make it as attractive as conventional fuels. Only electricity production using residues from sawmills, crops and other biomass by-products is competitive, and a number of plants are in operation in some countries, particularly the United States. For such plants, the usual rates of return and long-term contract purchases that characterize investments of this kind are applied. Although technologies are available for the widespread efficient use of biomass, the financial hurdle of high initial costs has impeded their market penetration, which in turn precludes any decline in costs that might otherwise have come from production increases. Intervention by governments or by GEF, justified on grounds of environmental protection, is needed to accelerate the introduction of the new technologies. The only private flows that are taking place at the moment are those from enlightened investors wishing to guarantee themselves a strong position in the area for the future or to preempt command and control regulations, such as carbon taxes, imposed by governments. The joint implementation of biomass technologies between industrialized and developing countries might be one method of accelerating this flow. (author)

  10. Distributed ledger technology in the capital market : Shared versus private information in a permissioned blockchain

    OpenAIRE

    Piccolo, Alessandro

    2017-01-01

    This master thesis explores how blockchain technologies can be utilized within the financial sector with focus on how to store both private and public information on the blockchain. The capital market is looking into ways of cutting down administrative work through streamlining the financial process by using blockchain technologies. Public key encryption together with hash functions and a consensus mechanism make up the basis for creating a shared trustless database system. The thesis was con...

  11. Private equity and venture capital: investment fund structures in the Czech Republic

    Directory of Open Access Journals (Sweden)

    Marek Zinecker

    2011-01-01

    Full Text Available A working private equity and venture capital market (PE/VC market stimulates the business environment in a positive manner and impacts the level of economic growth of national economies. A study of the Austrian Private Equity and Venture Capital Organisation/AVCO (2004, p. 6 defines prerequisites for a correct operation of the PE/VC market. It views the legislative provision for suitable legal fund structures for PE/VC investments and their tax treatment as a key factor. In its publication, Private Equity & Venture Capital in the Czech Republic (2010, p. 14, the Czech Venture Capital Association/CVCA stresses that legal barriers are an important reason behind the limited scope of resources available to domestic PE/VC funds. Legal barriers prevent the establishment of a standard PE/VC fund in the territory of the Czech Republic, which fact in turn has a negative impact on the level of development of the domestic PE/VC market (fundraising, investment volumes, establishment of the infrastructure required for the operation of PE/VC funds. The purpose of this article is, based on an analysis of the relevant information sources, to assess how the current Czech legislation regulates the legal fund structures for PE/VC investments and their tax treatment. Proposals for a potential improvement of the situation are based on a comparison of the legislative framework applicable in the Czech Republic and the requirements defined by the European Venture Capital Association/EVCA, as well as the AVCO study (2004, 2006.

  12. (Net)Working out: social capital in a private health club.

    Science.gov (United States)

    Crossley, Nick

    2008-09-01

    In Bowling Alone Robert Putnam considers the possibility that the growth of private health clubs and the rising rates of membership to such clubs might represent a counter-trend to his thesis on the decline in social capital. In this paper I explore this idea using ethnographic data and social network analysis. I show both that and how networks form in health clubs and I discuss the ways in which these networks constitute social capital for their members. In addition, however, I explore the 'dark side' of this form of social capital. I argue that high integration amongst some members of a fitness class can generate a power differential between those members and other, less integrated members who experience this negatively. Furthermore, with an eye on Burt's (2005) important thesis on brokerage and closure, I argue that brokerage between relatively closed clusters of agents can lead to inter-group rivalry and conflict, which, in turn, is experienced negatively by those involved.

  13. Private Equity Capital in a Less Developed Economy: Evidence, Issues and Perspectives

    Directory of Open Access Journals (Sweden)

    Melusi Mpofu

    2015-10-01

    Full Text Available This study investigates the structure of the private equity industry and issues that impact on its development and growth in Zimbabwe. Studies conducted internationally have unequivocally demonstrated the importance of private equity investments in assisting firms at start/growth phase and decline phase. However there is a dearth of literature on how these financial intermediaries assist in unlocking firm value from an emerging markets perspective. The study uses the document analysis and an exploratory research paradigms to achieve the stated objectives. The study finds that the venture capital industry in Zimbabwe mimics similar industries in other countries except that it is constrained by market liquidity. Lack of regulation and viable business sectors coupled with excessive risks in the political economy narrows the scope of private equity operations. Several issues impacting on the development of the private equity industry are identified and evaluated. The study has policy implications for the development of regulatory framework to bolster the growth of the private equity industry in emerging market economies. This study provides new evidence and policy suggestions on the operations of the private equity industry in a liquidity constrained and less developed economy.

  14. NEW REGULATION OF PRIVATE EQUITY AND VENTURE CAPITAL FUNDS AND OPEN QUESTIONS

    Directory of Open Access Journals (Sweden)

    Suzana Audić Vuletić

    2017-01-01

    Full Text Available This article provides an analysis of the new regulation of private equity and venture capital funds which are in Croatian law regulated by Alternative Investment Funds Act and ordinances. These funds can offer their units only via private offering to primarily professional, i.e. qualifying investors. They invest mostly in shares and units of companies, including both companies in early (start-ups and in later stage of business. For the companies in which they invest, these funds are very signifi cant as they can provide capital for even small entrepreneurs which could not obtain fi nancing from traditional sources (e. g. banks. This article analyzes investment transactions between private equity (further in text: PE and venture capital (further in text: VC funds and the company in which they invest (portfolio company. PE and VC funds represent a new segment in the Croatian capital market which is still developing and whose potential is yet to be fully recognized. PE and VC funds are not regulated on the EU level. However, managers of AIFs, including PE and VC funds are under certain conditions. Authors shall analyze these legal sources, both on the EU and on the domestic level, with emphasis on the regulation of managers of AIFs when they acquire controlling stake in non-listed companies and issuers, which is of special interest to PE and VC funds due to their investment techniques. In that light, authors question if there is a mechanism which ensures that PE and VC funds act as a socially responsible shareholders/unitholders in portfolio companies (public accountability of the managers of AIFs. If so, authors argue the existence of possible confl ict of interest, as it is not clear in whose interest should managers of PE and VC funds act: in the interest of their investors or in the interest of the portfolio company.

  15. 2015 Plan. Project 9: the institutional base reformulation of electrical sector and the participation of private capital

    International Nuclear Information System (INIS)

    1992-12-01

    The structural changes in the electrical sector and the forecast for favoring the private participation in the investments of the sector are discussed, describing the main stages of the institutional evolution. Some economic markers as competitiveness, electric power prices, private capital and the regulations of electric power services are presented. (C.G.C)

  16. Study on the Impact of the Private Credit Excess on the Credit Risk under the Massive Capital Inflows Risk under the Massive Capital Inflows

    Directory of Open Access Journals (Sweden)

    Jong-Hee Kim

    2016-09-01

    Full Text Available By examining the relationship between private credit growth and the possibility of credit risk while focusing on international capital in 21 countries over the period 2000:1Q-2015:2Q, this paper shows that the impact of private credit growth on credit risk is apparent under the high ratio of capital inflows, and its impact on credit risk in the seven Asian countries is even stronger. And the possibility of credit risk caused by private credit is mainly coming from portfolio inflows rather than direct inflows. Finally, portfolio inflows strengthen the positive relationship between credit excess and credit risk in Asian countries, and this trend is seen more in these after the global financial crisis. Taken together, the stronger positive relationship between credit excess and credit risk can be strengthen under the massive portfolio inflows in particular in the seven Asian countries such as Hong Kong, India, Indonesia, Korea, Malaysia, Singapore, and Thailand.

  17. Investment criteria of private equity/venture capital funds and financial performance of companies before initial investment

    Directory of Open Access Journals (Sweden)

    Zbigniew Drewniak

    2013-12-01

    Full Text Available Understanding and recognizing of the investment criteria of private equity/venture capital seems to be crucial for all parties of this market. Entrepreneurs, who are looking for the capital for financing their businesses, can easier find the most proper fund and better formulate their expectations. For the funds, specifying theirs investment criteria is the reflection of the investment strategy leading to its better wording. The fund's investmentcriteriaare also importantfor investors - capital donors. First of allthey wantto knowin whattypes of assetswill be investedtheirfunds. That can help to assess the risk involved in the investment and calculate the expected rate of return. In addition topresentation ofthe investment criteriaof private equity/venture capital funds, thepaper refers to thecompany's financialsituationbefore investments. That draw the company profile, the funds are most interested to invest. The turnover, net profit, profitability ratios and liquidity were analyzed to specify this profile.

  18. Credit risk in the pool-implications for private capital investments in Brazilian power generation

    International Nuclear Information System (INIS)

    Rocha, Katia; Alcaraz Garcia, Francisco A.

    2006-01-01

    The new Brazilian Electric Sector Regulation of 2004 introduced two negotiation markets: the regulated pool and the free market. Competition in the pool is enforced via energy auctions, where the winning generator has to sign long-term power purchase agreements simultaneously with all distributors at the bidding-price. To estimate the appropriate credit risk spread of the pool, we implement a clustering methodology to rank and rate the distributors. The results show an average spread between 5.75% and 8.5%, which corresponds to a credit rating of B- according to the spreads available in Reuters 2004. This estimation is at least 208 basis points higher than the credit rating Ba1/BB+ assigned to the distributors by the National Electric Energy Agency (ANEEL) in the periodic tariff revisions. Distributors with higher risk/spread are located in the South-Southeast, compared to the low risk/spread ones concentrated in the North-Northeast. We estimate the opportunity cost of capital in real terms in the range of 13-16% to account for the credit risk of the pool. Essential to determine the bidding price at the auctions, this estimation is higher than the 11.26% opportunity cost estimated by ANEEL. The pool's credit risk has to be taken into consideration, especially for compensating new private capital investments in Brazilian power generation

  19. Restructuring the oil segment in South America: public policy, private capital and energy integration

    International Nuclear Information System (INIS)

    Fiorotti, A.; Tiomno Tolmasquim, M.; Tiomno Tolmasquim, M.; Alveal, C.

    2006-01-01

    The World Oil Industry (WOI) developed through two types of economic organization, built up around vertically integrated and internationalized enterprises: the US model, based on private international firms, and the model centered on setting up State-run enterprises, initially in the United Kingdom, Argentina and Mexico. However, from the first oil crisis (1973) onwards, the World Oil Industry has gradually been un-bundled through nationalization and the loss of control over the reserves by the oil majors. With this new configuration of the industry, from the 1980's onwards, the strategies of the major international oil companies focused on developing the spot market, while lowering investment and operating costs, introducing correlated diversification strategies, and enhancing industrial concentration through mergers and acquisitions and/or cooperation agreements between companies. The core purpose of these strategic shifts is to obtain control over new oil field areas. The restructuring processes of national oil industries all over the world - particularly in South America - constituted an important drive aligned with these new guidelines, headed up by the global oil operators. This paper analyzes the changes in the South American oil sector during the 1990's, analyzing aspects involved in awarding mineral rights in the upstream segment. Despite similar policies, market deregulation processes follow different patterns. However, the most significant aspect is an increase in the presence of international private capital in the dynamics of this sector, mainly in regional energy integration processes. (authors)

  20. Capital Budgeting: Do Private Sector Methods of Budgeting for Capital Assets Have Applicability to the Department of Defense

    Science.gov (United States)

    2005-12-01

    asset pricing model ( CAPM ). “According to the CAPM theory, investors determine their required return by adding a risk premium to the interest rate...NUMBER OF PAGES 77 14. SUBJECT TERMS Capital Budgeting; GAO; DOD; Capital Assets ; Risk, OMB; NPV, IRR 16. PRICE CODE 17. SECURITY...needs of the mission, as defined by the strategic plan, and limit the number of “nice to haves” (OMB, 1997). d. Alternatives to Capital Assets

  1. A research on the spatial disparity of China's private economic capital : Based on an Institutional non-equilibrium approach

    NARCIS (Netherlands)

    Jiang, J.; Zhang, J.

    2010-01-01

    In this paper we investigate China’s private economic capital and its spatial disparity from the perspective of institutional non-equilibrium, and then we test the efficiency coefficient of the institutional change of a region and inter-regions,which is analyzed on a special cost-benefit model.The

  2. Syndicated Investing in Private Equity and Venture Capital Industry: Comparing BRICS

    Directory of Open Access Journals (Sweden)

    Lucas V.B. Martins

    2015-04-01

    Full Text Available Objective. This article characterizes and compares the networks structure formed by Managing Organizations (GOs Private Equity and Venture Capital (PE&VC that co-invested in the so called BRICS countries.Methodology. The methodology used consists of PE or VC transactions with target companies based on the BRICS and involving more than one investor, or “syndicated investing”, between 1992 and 2013.Findings. The analysis revealed that the social structure in these countries is highly clustered, showing the existence of small worlds in all markets studied, yet under different intensities. This type of structure stimulates the flow of information impacting access to business opportunities. The results suggest that, when dealing with networks of PE&VC investors, one should consider the particularities of BRICS, which are not homogeneous from the perspective of network analysis.Limitations. This study considers only data from transactions originated and the effect known as BRICS.Originality/Value. This article offers unique contribution in that it explores Syndicated Investing in understudied markets, employing a methodology that provides new results. Copyright © 2015 Instituto Brasileiro de Inovação Financeira All rights reserved

  3. Exogenous factors and market value: an appraisal model of capital gains in urban redevelopment programs in public/ private partnerships

    Directory of Open Access Journals (Sweden)

    Francesco Calabrò

    2013-08-01

    Full Text Available The proposed article aims to illustrate an experimental model applicable, in the planning stage, to an appraisal of the capital gains in a residential requalification in public/ private partnership. The model develops a method using a conventional cost value through a multicriteria model which evaluates the influence of qualitative exogenous variables to the market value of the property. The aim is to develop a synthetic procedure, transparent, shared and easy to use by the public authorities, in determining the total benefits associated with urban transformations, in order to achieve a fair sharing of profits between public and private entities.

  4. Public Debts and Private Assets: Explaining Capital Flight from Sub-Saharan African Countries

    OpenAIRE

    Léonce Ndikumana; James K. Boyce

    2002-01-01

    We investigate the determinants of capital flight from 30 sub-Saharan African countries, including 24 countries classified as severely indebted low-income countries, for the period 1970-1996. The econometric analysis reveals that external borrowing is positively and significantly related to capital flight, suggesting that to a large extent capital flight is debt-fueled. We estimate that for every dollar of external borrowing in the region, roughly 80 cents flowed back as capital flight in the...

  5. Organizational Citizenship Behavior and Work Motivation as Correlates of Psychological Capital among Public and Private School Teachers

    OpenAIRE

    Nazirul Hasnain; Zuby Hasan; Sehal Chorath

    2017-01-01

    Background: The components of Psychological capital as well as Organizational citizenship behavior and Work motivation are so influential for an individual especially for their performance in organizational setting. Aims: The main objectives of the study were: (1) to study the contributions of organizational citizenship behavior and work motivation in psycap of public school teachers; (2) to study the contributions of organizational citizenship behavior and work motivation in psycap of privat...

  6. Allocating Overhead Costs in a Navy Working Capital Fund Environment: An Analysis and Comparison of Current Navy Policy and Private Sector Practice

    National Research Council Canada - National Science Library

    Schulte, Steven

    1999-01-01

    .... The objective of this thesis was to evaluate the overhead allocation practices of five private sector organizations for the potential improvement of overhead allocation practices in Navy Working Capital Fund activities...

  7. Barriers in adopting blended learning in a private university of Pakistan and East Africa: faculty members' perspective.

    Science.gov (United States)

    Rizvi, Nusrat Fatima; Gulzar, Saleema; Nicholas, Wachira; Nkoroi, Beatrice

    2017-01-01

    Education methods have undergone transformation over the centuries. Use of technology is the cornerstone for innovation in teaching methods. Hence, blended learning which includes face to face and online modalities is being increasingly explored as effective method for learning. This pilot study determines the perceptions of faculty members in a private international university on barriers influencing adoption of technology for teaching and learning. A cross-sectional survey was conducted through a self-reported questionnaire using 'survey monkey'. The data was entered and analyzed using Statistical Package for the Social Sciences (SPSS version 20). Frequencies and proportions are reported. Findings indicated that 51.6% faculty members perceived the importance of integration of technology in their teaching. Around 54% of the participants recognized that they do possess the ability and accessibility to integrate information communication technology (ICT) in teaching and learning, but there is a need to hone the basic information technology (IT) skills to initiate technology driven teaching. Findings revealed that 55% faculty members acknowledged the constraint of not getting protective time to develop and deliver technology driven courses. Further, results showed that 45% faculty members perceived that their innovation efforts in terms of teaching as blended learning do not count towards their professional promotion or recognition, as usually priority is given to research over teaching innovation. The findings also indicated that 54.5% participants asserted that university lack mentorship in the field of blended learning. Therefore, study suggests that universities should provide adequate mentorship programmes for the faculty members in enhancing their skills of integrating technology in their teaching.

  8. Barriers in adopting blended learning in a private university of Pakistan and East Africa: faculty members’ perspective

    Science.gov (United States)

    Gulzar, Saleema; Nicholas, Wachira; Nkoroi, Beatrice

    2017-01-01

    Background Education methods have undergone transformation over the centuries. Use of technology is the cornerstone for innovation in teaching methods. Hence, blended learning which includes face to face and online modalities is being increasingly explored as effective method for learning. This pilot study determines the perceptions of faculty members in a private international university on barriers influencing adoption of technology for teaching and learning. Methods A cross-sectional survey was conducted through a self-reported questionnaire using ‘survey monkey’. The data was entered and analyzed using Statistical Package for the Social Sciences (SPSS version 20). Frequencies and proportions are reported. Results Findings indicated that 51.6% faculty members perceived the importance of integration of technology in their teaching. Around 54% of the participants recognized that they do possess the ability and accessibility to integrate information communication technology (ICT) in teaching and learning, but there is a need to hone the basic information technology (IT) skills to initiate technology driven teaching. Findings revealed that 55% faculty members acknowledged the constraint of not getting protective time to develop and deliver technology driven courses. Further, results showed that 45% faculty members perceived that their innovation efforts in terms of teaching as blended learning do not count towards their professional promotion or recognition, as usually priority is given to research over teaching innovation. The findings also indicated that 54.5% participants asserted that university lack mentorship in the field of blended learning. Conclusions Therefore, study suggests that universities should provide adequate mentorship programmes for the faculty members in enhancing their skills of integrating technology in their teaching. PMID:28567414

  9. The Level of Utilizing Blended Learning in Teaching Science from the Point of View of Science Teachers in Private Schools of Ajman Educational Zone

    Science.gov (United States)

    Al-Derbashi, Khaled Y.; Abed, Osama H.

    2017-01-01

    This study aims to define the level of utilizing blended learning in teaching science from the point of view of science teachers (85 male and female teachers) who are working in private schools of Ajman Educational Zone. The study also aims to find if there are significant differences according to gender, years of experience, or the fact that…

  10. Assessment of value creation in private equity: the acquisition of Burger King by 3G Capital

    OpenAIRE

    Hoene, Daniel Jobst Elmar

    2016-01-01

    This thesis elaborates the creation of value in private equity and in particular analyzes value creation in 3G Capital’s acquisition of Burger King. In this sense, a specific model is applied that composes value creation into several drivers, in order to answer the question of how value creation can be addressed in private equity investments. Although previous research by Achleitner et al. (2010) introduced a specific model that addresses value creation in private equity, the r...

  11. Private Capital, Public Goods: Forest Plantations' Investment in Local Infrastructure and Social Services in Rural Tanzania

    NARCIS (Netherlands)

    Degnet, M.B.; Werf, van der E.; Ingram, V.J.; Wesseler, Justus

    2017-01-01

    With the rapid expansion of private forest plantations worldwide, their impacts on local development are under scrutiny by NGOs and researchers alike. This study investigates the impacts of private forest plantations on local infrastructure and social services in rural Tanzania. We take a

  12. Private capital investments in health care provision through mergers and acquisitions: from long-term to acute care.

    Science.gov (United States)

    Angeli, Federica; Maarse, Hans

    2016-10-01

    This work aims to test whether different segments of healthcare provision differentially attract private capital and thus offer heterogeneous opportunities for private investors' diversification strategies. Thomson Reuter's SDC Platinum database provided data on 2563 merger and acquisition (M&A) deals targeting healthcare providers in Western Europe between 1990 and 2010. Longitudinal trends of industrial and geographical characteristics of M&As' targets and acquirers are examined. Our analyses highlight: (i) a relative decrease of long-term care facilities as targets of M&As, replaced by an increasing prominence of general hospitals, (ii) a shrinking share of long-term care facilities as targets of financial service organizations' acquisitions, in favor of general hospitals, and (iii) an absolute and relative decrease of long-term care facilities' role as target of cross-border M&As. We explain the decreasing interest of private investors towards long-term care facilities along three lines of reasoning, which take into account the saturation of the long-term care market and the liberalization of acute care provision across Western European countries, regulatory interventions aimed at reducing private ownership to ensure resident outcomes and new cultural developments in favor of small-sized facilities, which strengthen the fragmentation of the sector. These findings advance the literature investigating the effect of private ownership on health outcomes in long-term facilities. Market, policy and cultural forces have emerged over two decades to jointly regulate the presence of privately owned, large-sized long-term care providers, seemingly contributing to safeguard residents' well-being. Copyright © 2016 John Wiley & Sons, Ltd. Copyright © 2016 John Wiley & Sons, Ltd.

  13. 13 CFR 107.230 - Permitted sources of Private Capital for Licensees.

    Science.gov (United States)

    2010-01-01

    ... corporation established before October 1, 1987, to the extent that such revenues are reflected in the retained earnings of the corporation; and (iii) “Qualified Non-private Funds” as defined in paragraph (d) of this...

  14. Reform of Budgeting for Acquisition: Lessons from Private Sector Capital Budgeting for the Department of Defense

    National Research Council Canada - National Science Library

    McCaffery, Jerry L; Jones, Lawrence R

    2006-01-01

    .... The governments of New Zealand, Australia, and the United Kingdom, as well as most of the states in the United States have adopted some private budgeting methods with varying degrees of success...

  15. Capital social e a privatização do conhecimento Social capital and the privatization of knowledge

    Directory of Open Access Journals (Sweden)

    Renato P. Saul

    2008-06-01

    Full Text Available O trabalho examina o movimento intelectual que envolveu a reflexão científica nas ciências sociais a partir dos anos 1960 e suas vinculações com as transformações que, na mesma época, agitam as relações econômicas e políticas no plano mundial, com seu foco principal apontado para os Estados Unidos. Duas das expressões mais significativas desse movimento são localizadas em questões relativas à identificação de uma crise institucional na democracia americana e com a verificação do processo de reavaliação do papel da Sociologia, seja desde o ponto de vista institucional, seja como instrumento de explicação da realidade social do país e do mundo. A crise política americana é visualizada como tendo por pano de fundo a reorganização do poder econômico do país, resultante do desenvolvimento tecnológico e do processo de globalização. A partir da constatação de que os fundamentos da democracia americana parecem estar ameaçados por mudanças comportamentais e estruturais internas, desenvolve-se no país considerável quantidade de pesquisas e estudos abordando diferentes perspectivas da atuação das grandes corporações. Como contraponto à percepção da degradação da comunidade política interna, esse esforço é marcadamente orientado para a identificação dos compromissos do circuito empresarial com o comportamento cívico e com a democracia, quer na afirmação da ética nos negócios, quer na perspectiva do desenvolvimento de uma política social mais compatível com as estratégias corporativas. Este é o contexto em que a noção de capital social adquire o sentido de articulador principal das disputas políticas e teóricas em torno do desenvolvimento econômico e das transformações verificadas na atividade industrial resultantes da expansão de novas tecnologias e de seus efeitos em termos da necessidade de redimensionamento do direito de propriedade intelectual.This work examines the intellectual

  16. The Post-Privatization Role of Out-growers' Associations in Rural Capital Accumulation

    DEFF Research Database (Denmark)

    Isager, Lotte; Fold, Niels; Nsindagi, Thobias

    2018-01-01

    Contract farming is widely promoted by multilateral agencies as an engine of economic growth in developing countries. The agencies often stress the need for governments to create strong farmers' organizations that can shoulder the risks associated with contractual relationships with large...... a crucial position with regard to classic agrarian questions of land, labour and capital accumulation....

  17. Fee-for-service, Capitation and Health Provider Choice with Private Contracts

    NARCIS (Netherlands)

    Boone, J.

    2014-01-01

    Contracts between health insurers and providers are private; i.e. not public. By modelling this explicitly, we find the following. Insurers with bigger provider networks,pay higher fee-for-service rates to providers. This makes it more likely that a patient is treated and hence health care costs

  18. Mechanisms to Support Private Enterprise in the System of State Capitalism

    Directory of Open Access Journals (Sweden)

    Bogoutdinov Boris, B.

    2016-07-01

    Full Text Available Some of the main problems in developing the institute of private enterprise in Russia are ineffectiveness of government support and lack of competence among the entrepreneurs themselves. In the paper the author analyzes the existing mechanisms of business development for small and mediumsized businesses, which in case of effective implementation will drive up the share of self employment, tax revenue and quality of life. The aim of the paper is to develop methods and tools for development of private enterprise institute pursuing the task of forming a highly developed modern society. The mechanisms of support for small entrepreneurs in China, as well as problems of search funds and mittelshtands mechanisms were considered. The practical significance lies in the analysis of the existing enabling mechanism for small and medium-sized businesses with the purpose of development of new mechanisms of transformation of economic systems in Russia.

  19. Challenges of attracting private capital investments in the Russian power sector

    Energy Technology Data Exchange (ETDEWEB)

    Kiss, Peter; Sagodi, Attila

    2010-09-15

    The level of investment required by the Russian power sector by 2020 are expected to be in the range of USD 500-550 billion. It is of vital importance that Russia outlines an appropriate regulatory regime for its energy market that attracts foreign investors and combats corruption. The most important challenges determining the long term development of the country's power sector are skills development, regulatory effectiveness, corporate governance, and assurance regarding private investments.

  20. Small Private Online Research: A Proposal for A Numerical Methods Course Based on Technology Use and Blended Learning

    Science.gov (United States)

    Cepeda, Francisco Javier Delgado

    2017-01-01

    This work presents a proposed model in blended learning for a numerical methods course evolved from traditional teaching into a research lab in scientific visualization. The blended learning approach sets a differentiated and flexible scheme based on a mobile setup and face to face sessions centered on a net of research challenges. Model is…

  1. Linking bonding and bridging ownership social capital in private firms : Moderating effects of ownership-management overlap and family firm identity

    NARCIS (Netherlands)

    Uhlaner, L.M.; Matser, I.; Flören, R.H.; Berent-Braun, M.M.

    2015-01-01

    This study examines the relationship between bonding and bridging ownership social capital (OSC) for a random sample of 679 privately held small and medium-sized firms. Results confirm the positive effects of bonding OSC (quality of relationships and shared vision) on bridging OSC (network

  2. Linking bonding and bridging ownership social capital in private firms : moderating effects of ownership-management overlap and family firm identity

    NARCIS (Netherlands)

    Lorraine M. Uhlaner; Marta M. Berent-Braun; Ilse A. Matser; Roberto H. Flören

    2015-01-01

    This study examines the relationship between bonding and bridging ownership social capital (OSC) for a random sample of 679 privately held small and medium-sized firms. Results confirm the positive effects of bonding OSC (quality of relationships and shared vision) on bridging OSC (network

  3. Determinants of the cost of capital for privately financed hospital projects in the UK.

    Science.gov (United States)

    Colla, Paolo; Hellowell, Mark; Vecchi, Veronica; Gatti, Stefano

    2015-11-01

    Many governments make use of private finance contracts to deliver healthcare infrastructure. Previous work has shown that the rate of return to investors in these markets often exceeds the efficient level. Our focus is on the factors that influence that return. We examine the effect of macroeconomic, project- and firm-level variables using a detailed sample of 84 UK private finance initiative (PFI) contracts signed between 1997 and 2010. Of the above variables, macroeconomic conditions and lead sponsor size are related to the investor return. However, our results show a remarkable degree of stability in the return to investors over the 14-year period. We find evidence of a 'prevailing norm' that is robust to project- and firm-level variation. The sustainability of excess returns over a long period is indicative of a concentrated market structure. We argue that policymakers should consider new mechanisms for increasing competition in the equity market, while ensuring that authorities have the specialist resources required to negotiate efficient contract prices. Copyright © 2015 Elsevier Ireland Ltd. All rights reserved.

  4. Owners' insights into private practice dentistry in New South Wales and the Australian Capital Territory.

    Science.gov (United States)

    Fischer, J E; Marchant, T

    2010-12-01

    The aim of this study was to investigate aspects of practice ownership including debt on graduation, the time period between graduation and acquiring practice ownership and small business skills. A mail survey of 400 dentists with practice ownership, in New South Wales (NSW) and the Australian Capital Territory (ACT), addressed demographics, setting up practice, technology and business management. Most respondents were male and nearly half had 20 years of practice ownership. Dentists agreed with the need to be taught small business management skills. Average debt on graduation was AUD$18 000 and the figure was higher for post 1995 graduates. On average, it took five years to acquire some form of practice ownership, but nearly half acquired ownership within three years. Few favoured opening a new practice. Staff were the most frequently nominated contributors to a successful practice, with fees, profit and parking noted least frequently. There was no question that these experienced dentists thought small business skills should be taught to the dental fraternity. Given the significance of staff to a successful practice, dentists may need to learn more about advanced human resource management including professional development and performance management. © 2010 Australian Dental Association.

  5. Enhancing the Quality of Financial Advice with Web 2.0 - An Approach Considering Social Capital in the Private Asset Allocation

    Science.gov (United States)

    Kundisch, Dennis; Zorzi, Robin

    Although theoretically necessary, social capital is not considered within the process of asset allocation for private investors. Both the lack of appropriate practical valuation concepts and the effort of providing and processing the required information as input for a valuation were obstacles to include social capital in this process. However, first theoretical financial models for the evaluation of social capital recently have become available. Moreover, the fast growth of business community websites and the technological progress in Web 2.0 tools that allow and acquire the active involvement of users, facilitate the provision and processing of valuation relevant information. In this paper we focus on the second aspect and propose a social software-based concept that allows for an integration of social capital in the asset allocation process.

  6. The Potential of Private Capital in the Development of Small business in the Russian Federation

    Directory of Open Access Journals (Sweden)

    Lena S. Shavaleeva

    2017-01-01

    Full Text Available Purpose: the purpose of this article is to analyze the potential, opportunities and prospects of individual financial resources (personal savings in investment process for Russian small business projects. The subject of this study is particularly relevant due to the fact that in recent years in Russian Federation the development of small business plays an important role in economic policy but there are a number of reasons that impede the development of this segment especially lack of financial resources.Methods: in this article we used methods of qualitative analysis of relevant legal documents and statistical data; factorial, situational, and comparative approaches to empirical material on this subject, and the possibility of expert evaluation of emerging economic trends.Results and Conclusions: the Russian government implements significant measures to support segment of small businesses but there is still a whole range of reasons that hinder their development. The most serious of them is the lack of investment. At the same time, we can see the trend between the growing range of possibilities of private investments from the state and businesses and no apparent needs for them among the general russian population. There is a huge potential expressed in the possible transformation of available savings of this population into investment. This approach can be implemented due to using of the innovative instruments, one of which is crowdinvesting.

  7. Making Better Re/Insurance Underwriting and Capital Management Decisions with Public-Private-Academic Partnerships

    Science.gov (United States)

    Michel, G.; Gunasekera, R.; Werner, A.; Galy, H.

    2012-04-01

    Similar to 2001, 2004, and 2005, 2011 was another year of unexpected international catastrophe events, in which insured losses were more than twice the expected long-term annual average catastrophe losses of USD 30 to 40bn. Key catastrophe events that significantly contributed these losses included the Mw 9.0 Great Tohoku earthquake and tsunami, the Jan. 2011 floods in Queensland, the October 2011 floods in Thailand, the Mw 6.1 Christchurch earthquake and Convective system (Tornado) in United States. However, despite considerable progress in catastrophe modelling, the advent of global catastrophe models, increasing risk model coverage and skill in the detailed modelling, the above mentioned events were not satisfactorily modelled by the current mainstream Re/Insurance catastrophe models. This presentation therefore address problems in models and incomplete understanding identified from recent catastrophic events by considering: i) the current modelling environment, and ii) how the current processes could be improved via: a) the understanding of risk within science networks such as the Willis Research Network, and b) the integration of risk model results from available insurance catastrophe models and tools. This presentation aims to highlight the needed improvements in decision making and market practices, thereby advancing the current management of risk in the Re/Insurance industry. This also increases the need for better integration of Public-Private-Academic partnerships and tools to provide better estimates of not only financial loss but also humanitarian and infrastructural losses as well.

  8. 75 FR 77190 - Exemptions for Advisers to Venture Capital Funds, Private Fund Advisers With Less Than $150...

    Science.gov (United States)

    2010-12-10

    ...\\ Goldstein v. Securities and Exchange Commission, 451 F.3d 873 (D.C. Cir. 2006) (``Goldstein''). \\19\\ Section....'''). See also Loy Testimony, supra note 40, at 7 (noting the factors by which the venture capital industry... capital'' activity in capital formation for small businesses.\\47\\ The BDC provisions and venture capital...

  9. THERE IS INFLUENCE IN DEVELOPMENT OF COMPANIES WHICH BUILT STOCK, WITH SUPPORT OF INVESTIMENT FUND PRIVATE EQUITY AND VENTURE CAPITAL? EVIDENCES OF ENTRANT COMPANIES AT BOVESPA

    Directory of Open Access Journals (Sweden)

    Caciano Gianechini

    2013-09-01

    Full Text Available This work seeks to identify the impact of the participation of Private Equity funds and Venture Capital (PE/VC, the performance of companies that owned the contribution prior to the opening of capital (IPO. In a more objective the present study seeks to investigate whether companies that opened capital, financed by PE/VC, have performed better than the other formerly the Brazilian stock market debut. The sample of work consists of 116 companies that made the initial public offering (IPO in the São Paulo Stock Exchange (BOVESPA in the period January 2004 to December 2009. First identified that 41 enterprises debuted at BOVESPA being financed by PE/VC funds. Furthermore, the results indicate that the influence of PE/VC funds tend to improve some indices of profitability and market of companies after the IPO. In summary, the evidence found lead to the conclusion that the organizations of private equity and venture capital influence positively the performance of investee companies.

  10. The organization of mercantile capitalism in the Low Countries: private partnerships in early modern Antwerp (1480-1620)

    NARCIS (Netherlands)

    van Hofstraeten, Bram

    2016-01-01

    By means of an in-depth analysis of 132 partnership agreements, which had been notarized in the city of Antwerp between 1480 and 1620, the present article aspires to provide a substantiated narrative on the use as well as legal features of private partnerships in the early modern Low Countries. In

  11. Proposing changes in legislative and institutional conditions for private equity and venture capital financing in the Czech Republic – a comparative study with Poland

    Directory of Open Access Journals (Sweden)

    Jaroslava Rajchlová

    2011-01-01

    Full Text Available This paper discusses the conditions of private equity and venture capital financing in the Czech Republic and Poland. Especially the related legislation, taxes and support of this type of financing are discussed in detail. The purpose of this research is to evaluate the conditions, to find factors that have positive influence and to formulate recommendations that would improve the conditions for both PE/VC investors and firms with new business ideas. Improving the conditions for PE/VC financing helps small businesses get the needed capital that cannot be obtained from banks and other institutions. This form of financing has a proven positive effect on whole economy. Identifying and removing obstacles is therefore important and helps the government to promote economic growth. This form of financing is used frequently in other European countries. In the central and eastern Europe it is not used as frequently but the situation is improving according to (Zinecker & Rajchlová, 2010. According to the study made by EVCA an array of legislative shortcoming were identified in the Czech Republic. Poland and Hungary have better conditions for PE/VC financing. According to EVCA studies made in 2004 and 2006 Poland shows that the conditions improve each year. Therefore Poland was chosen in this research for a comparative study with the Czech Republic.

  12. Limiting the financial risks of electricity generation capital investments under carbon constraints: Applications and opportunities for public policies and private investments

    Science.gov (United States)

    Newcomer, Adam

    Increasing demand for electricity and an aging fleet of generators are the principal drivers behind an increasing need for a large amount of capital investments in the US electric power sector in the near term. The decisions (or lack thereof) by firms, regulators and policy makers in response to this challenge have long lasting consequences, incur large economic and environmental risks, and must be made despite large uncertainties about the future operating and business environment. Capital investment decisions are complex: rates of return are not guaranteed; significant uncertainties about future environmental legislation and regulations exist at both the state and national levels---particularly about carbon dioxide emissions; there is an increasing number of shareholder mandates requiring public utilities to reduce their exposure to potentially large losses from stricter environmental regulations; and there are significant concerns about electricity and fuel price levels, supplies, and security. Large scale, low carbon electricity generation facilities using coal, such as integrated gasification combined cycle (IGCC) facilities coupled with carbon capture and sequestration (CCS) technologies, have been technically proven but are unprofitable in the current regulatory and business environment where there is no explicit or implicit price on carbon dioxide emissions. The paper examines two separate scenarios that are actively discussed by policy and decision makers at corporate, state and national levels: a future US electricity system where coal plays a role; and one where the role of coal is limited or nonexistent. The thesis intends to provide guidance for firms and policy makers and outline applications and opportunities for public policies and for private investment decisions to limit financial risks of electricity generation capital investments under carbon constraints.

  13. Resolution proposal for the creation of an inquiry commission about the safety and transparency risks generated by the opening of the capital and the privatization of the French nuclear industry

    International Nuclear Information System (INIS)

    2004-12-01

    The privatization of the French nuclear industry leads to three types of risks: the dilution of decision prerogatives (need of long-term investment for maintenance and safety purposes which are incompatible with immediate profits), incompatibility between private control and safety, and speculation (need of stable and durable financing for a sustainable safety). For these reasons, the French house of commons has created an inquiry commission about the safety and transparency risks linked with the capital opening and privatization of the French nuclear industry. (J.S.)

  14. Sedentary lifestyle and its associated factors among adolescents from public and private schools of a Brazilian state capital.

    Science.gov (United States)

    Nascente, Flávia Miquetichuc Nogueira; Jardim, Thiago Veiga; Peixoto, Maria do Rosário Gondim; Carneiro, Carolina de Souza; Mendonça, Karla Lorena; Póvoa, Thaís Inácio Rolim; Sousa, Ana Luiza Lima; Barroso, Weimar Kunz Sebba; Jardim, Paulo César Brandão Veiga

    2016-11-21

    Adolescence is a transition stage between childhood and adulthood and is an important phase for the acquisition of future lifestyles, including the practice of physical activity (PA). The prevalence of sedentary lifestyle in adolescents is often high, creating the need for studies addressing the practice of PA and its associated factors for a better understanding of the phenomenon and possible interventions that would encourage positive changes. Cross-sectional study of a representative sample of students aged 14-18 years enrolled in both public and private schools of a large Brazilian city to determine the level of physical activity (PA) and its associated factors. Sedentary lifestyle was measured by applying the International Physical Activity Questionnaire. The independent variables were gender, age, race, tobacco use and alcohol consumption in the past 30 days, socioeconomic status, body mass index, waist circumference and blood pressure. The crude prevalence ratio was used as a measure of association and was estimated from a Poisson regression. The sample consisted of 862 adolescents with a mean age of 15.4 ± 1.1 years. Females were predominant (52.8%), and the age between 14 and 15 years was the most frequent (52.2%). The majority of the group reported themselves as Caucasians (51.2%), belonging to socioeconomic class C (52.5%) and were attending to public schools (69.1%). The prevalence of sedentary lifestyle was 66.8% (95% confidence interval [CI]: 63.5-69.9), where values of 65.4% and 69.9% were observed among students from public and private schools, respectively (p = 0.196). Sedentary lifestyle was more frequent in females (78.0% vs 54.3%; p sedentary lifestyle was female gender both in public and private schools and the only independent variable related to sedentarism was also female gender. The prevalence of sedentary lifestyle was extremely high in the population of adolescents studied both in public and private schools. Female sex was

  15. Leveraging human capital to reduce maternal mortality in India: enhanced public health system or public-private partnership?

    Science.gov (United States)

    Krupp, Karl; Madhivanan, Purnima

    2009-02-27

    Developing countries are currently struggling to achieve the Millennium Development Goal Five of reducing maternal mortality by three quarters between 1990 and 2015. Many health systems are facing acute shortages of health workers needed to provide improved prenatal care, skilled birth attendance and emergency obstetric services - interventions crucial to reducing maternal death. The World Health Organization estimates a current deficit of almost 2.4 million doctors, nurses and midwives. Complicating matters further, health workforces are typically concentrated in large cities, while maternal mortality is generally higher in rural areas. Additionally, health care systems are faced with shortages of specialists such as anaesthesiologists, surgeons and obstetricians; a maldistribution of health care infrastructure; and imbalances between the public and private health care sectors. Increasingly, policy-makers have been turning to human resource strategies to cope with staff shortages. These include enhancement of existing work roles; substitution of one type of worker for another; delegation of functions up or down the traditional role ladder; innovation in designing new jobs;transfer or relocation of particular roles or services from one health care sector to another. Innovations have been funded through state investment, public-private partnerships and collaborations with nongovernmental organizations and quasi-governmental organizations such as the World Bank. This paper focuses on how two large health systems in India--Gujarat and Tamil Nadu--have successfully applied human resources strategies in uniquely different contexts to the challenges of achieving Millennium Development Goal Five.

  16. Leveraging human capital to reduce maternal mortality in India: enhanced public health system or public-private partnership?

    Directory of Open Access Journals (Sweden)

    Madhivanan Purnima

    2009-02-01

    Full Text Available Abstract Developing countries are currently struggling to achieve the Millennium Development Goal Five of reducing maternal mortality by three quarters between 1990 and 2015. Many health systems are facing acute shortages of health workers needed to provide improved prenatal care, skilled birth attendance and emergency obstetric services – interventions crucial to reducing maternal death. The World Health Organization estimates a current deficit of almost 2.4 million doctors, nurses and midwives. Complicating matters further, health workforces are typically concentrated in large cities, while maternal mortality is generally higher in rural areas. Additionally, health care systems are faced with shortages of specialists such as anaesthesiologists, surgeons and obstetricians; a maldistribution of health care infrastructure; and imbalances between the public and private health care sectors. Increasingly, policy-makers have been turning to human resource strategies to cope with staff shortages. These include enhancement of existing work roles; substitution of one type of worker for another; delegation of functions up or down the traditional role ladder; innovation in designing new jobs;transfer or relocation of particular roles or services from one health care sector to another. Innovations have been funded through state investment, public-private partnerships and collaborations with nongovernmental organizations and quasi-governmental organizations such as the World Bank. This paper focuses on how two large health systems in India – Gujarat and Tamil Nadu – have successfully applied human resources strategies in uniquely different contexts to the challenges of achieving Millennium Development Goal Five.

  17. Credit Enhancements and Capital Markets to Fund Solar Deployment: Leveraging Public Funds to Open Private Sector Investment

    Energy Technology Data Exchange (ETDEWEB)

    Mendelsohn, Michael [National Renewable Energy Lab. (NREL), Golden, CO (United States); Urdanick, Marley [National Renewable Energy Lab. (NREL), Golden, CO (United States); Joshi, John [Capital Fusion Markets, London (United Kingdom)

    2015-02-01

    Credit enhancements represent a variety of financial support structures that are designed to reduce risk to those holding the debt, including debt raised via a securitization process, and thus lower the required yield associated with the security. The purpose of all forms of credit enhancement is to increase the collateral against which notes are secured (Lin,1999). The following section evaluates is not guaranteed. Perceived risks of the solar asset class--including those related to technology, offtaker creditworthiness, and regulatory policy--can increase the required yield, increase probability of investor loss of interest and/or principal, or both. In many cases, this is a cyclical phenomenon: risk perception is fed by lack of historical knowledge, which is in turn fed by risk perception. Therefore, successful access to capital market investment in order to spur low-cost solar deployment depends on the success of this initial fledgling period.

  18. Private pensions for Europe

    NARCIS (Netherlands)

    Bovenberg, L.; van Ewijk, C.

    2011-01-01

    Private pensions can enhance international and intergenerational risk-sharing and create a deeper European capital market, which allows for better diversification of country-specific risks and facilitates economic growth. Private funding of pensions creates a more integrated European capital market

  19. Applying a private sector capitation model to the management of type 2 diabetes in the South African public sector: a cost-effectiveness analysis.

    Science.gov (United States)

    Volmink, Heinrich C; Bertram, Melanie Y; Jina, Ruxana; Wade, Alisha N; Hofman, Karen J

    2014-09-30

    Diabetes mellitus contributes substantially to the non-communicable disease burden in South Africa. The proposed National Health Insurance system provides an opportunity to consider the development of a cost-effective capitation model of care for patients with type 2 diabetes. The objective of the study was to determine the potential cost-effectiveness of adapting a private sector diabetes management programme (DMP) to the South African public sector. Cost-effectiveness analysis was undertaken with a public sector model of the DMP as the intervention and a usual practice model as the comparator. Probabilistic modelling was utilized for incremental cost-effectiveness ratio analysis with life years gained selected as the outcome. Secondary data were used to design the model while cost information was obtained from various sources, taking into account public sector billing. Modelling found an incremental cost-effectiveness ratio (ICER) of ZAR 8 356 (USD 1018) per life year gained (LYG) for the DMP against the usual practice model. This fell substantially below the Willingness-to-Pay threshold with bootstrapping analysis. Furthermore, a national implementation of the intervention could potentially result in an estimated cumulative gain of 96 997 years of life (95% CI 71 073 years - 113 994 years). Probabilistic modelling found the capitation intervention to be cost-effective, with an ICER of ZAR 8 356 (USD 1018) per LYG. Piloting the service within the public sector is recommended as an initial step, as this would provide data for more accurate economic evaluation, and would also allow for qualitative analysis of the programme.

  20. RETURNS OF PRIVATE EQUITY COMPARATIVE ANALYSES OF THE RETURNS OF VENTURE CAPITAL AND BUYOUT FUNDS IN EUROPE AND IN THE US

    Directory of Open Access Journals (Sweden)

    Becsky-Nagy Patrícia

    2014-07-01

    Full Text Available This paper focuses on the returns of two segments of Private Equity (PE market in Europe and in the US; Venture Capital (VC and Buyout (BO. Contrary to the publicly traded stocks where information about the trade of securities is public, the measuring of the returns of these asset classes is not unambiguous. The returns of PE investments are considered as confidential information therefore we only have estimations about the real characteristics of the financial performance of the PE industry. Although it is impossible to observe the whole industry it is important to chart its performance because PE plays an essential role in the financing of firms, especially firms at special stages of their lives and the more information the investors and companies have, the more effective PE market can be therefore it can contribute to economic growth, employment, innovation etc. In the literature PE, VC and BO are not distinguished properly and they are often used as synonyms. Despite their similarities, there are significant differences in the features of these types of investments. In this paper the authors present the return characteristics of the PE industry of Europe and the US with regard to the stage-focus of PE funds. The key findings of this paper are that in average the returns of BO funds exceeded the returns of VC funds in the US as well as in Europe. Not just according to the absolute value of the returns, but also according to its risk-return tradeoff BO seems to be a preferable investment. The same statements can be made in case of the European market. The US returns are higher than European VC returns, because compared to the US VC industry the European is undeveloped. On the other hand the gap between the performances of BO funds is not as significant as the difference of VC funds. While in the 90’s US BO funds outperformed the European ones, after the millennia European BO returns were higher. The analysis of returns reveals the

  1. The Relationship between Reports of Psychological Capital and Reports of Job Satisfaction among Administrative Personnel at a Private Institution of Higher Education

    Science.gov (United States)

    Mello, James A.

    2012-01-01

    The purpose of this single-site case study was to investigate the relationship between administrative personnel's reports of psychological capital (Luthans, Youssef, & Avolio, 2007) and their reports of job satisfaction (Hackman & Oldham, 1980). Specifically, two surveys, the Psychological Capital Questionnaire (Luthans, Youssef, &…

  2. Blended Learning

    NARCIS (Netherlands)

    Van der Baaren, John

    2009-01-01

    Van der Baaren, J. (2009). Blended Learning. Presentation given at the Mini symposium 'Blended Learning the way to go?'. November, 5, 2009, The Hague, The Netherlands: Netherlands Defence Academy (NDLA).

  3. Blended Learning

    OpenAIRE

    Bauerová, Andrea

    2013-01-01

    This thesis is focused on a new approach of education called blended learning. The history and developement of Blended Learning is described in the first part. Then the methods and tools of Blended Learning are evaluated and compared to the traditional methods of education. At the final part an efficient developement of the educational programs is emphasized.

  4. Entrepreneurs’ human and social capital

    DEFF Research Database (Denmark)

    Shayegheh Ashourizadeh, Shayegheh; Rezaei, Shahamak; Schøtt, Thomas

    2014-01-01

    Abstract: It is widely acknowledged that entrepreneurs’ human capital in form of education and social capital in form of networking are mutually beneficial and also that both human and social capital benefit their performance. Here, the hypothesis is that human and social capital, in combination......, provide added value and jointly add a further boost to performance, specifically if the form of exporting. Global Entrepreneurship Monitor provides data on 52,946 entrepreneurs, who reported on exporting and networking for advice. Hierarchical linear modelling shows that human capital promotes social...... capital, that human capital and social capital (specifically networking in the international environment, work-place, professions and market, but not in the private sphere) both benefit export directly and that human capital amplifies the benefit of social capital, especially through international...

  5. Macroeconomic Conditions and Capital Raising

    OpenAIRE

    Isil Erel; Brandon Julio; Woojin Kim; Michael S. Weisbach

    2011-01-01

    Do macroeconomic conditions affect firms' abilities to raise capital? If so, how do they affect the manner in which the capital is raised? We address these questions using a large sample of publicly-traded debt issues, seasoned equity offers, bank loans and private placements of equity and debt. Our results suggest that a borrower's credit quality significantly affects its ability to raise capital during macroeconomic downturns. For noninvestment-grade borrowers, capital raising tends to be p...

  6. Polymer blends

    Energy Technology Data Exchange (ETDEWEB)

    Allen, Scott D.; Naik, Sanjeev

    2017-08-22

    The present invention provides, among other things, extruded blends of aliphatic polycarbonates and polyolefins. In one aspect, provided blends comprise aliphatic polycarbonates such as poly(propylene carbonate) and a lesser amount of a crystalline or semicrystalline polymer. In certain embodiments, provided blends are characterized in that they exhibit unexpected improvements in their elongation properties. In another aspect, the invention provides methods of making such materials and applications of the materials in applications such as the manufacture of consumer packaging materials.

  7. Perceived Quality of Private Education and Fears of Stratification: Investigating the Propositions of Human Capital Theory by Exploring the Case of Colombia

    Science.gov (United States)

    Nel Páez, Pedro; Teelken, Christine

    2016-01-01

    The purpose of this paper is to discuss the recent developments in the higher education system of Colombia in order to illustrate how these encourage stratification between (types of) universities and their students. We do so by discussing propositions generated by human capital theory and apply them to the experiences of students and graduates…

  8. Blended learning

    DEFF Research Database (Denmark)

    Staugaard, Hans Jørgen

    2012-01-01

    Forsøg på at indkredse begrebet blended learning i forbindelse med forberedelsen af projekt FlexVid.......Forsøg på at indkredse begrebet blended learning i forbindelse med forberedelsen af projekt FlexVid....

  9. Blended Learning

    Science.gov (United States)

    Imbriale, Ryan

    2013-01-01

    Teachers always have been and always will be the essential element in the classroom. They can create magic inside four walls, but they have never been able to create learning environments outside the classroom like they can today, thanks to blended learning. Blended learning allows students and teachers to break free of the isolation of the…

  10. Blended learning

    DEFF Research Database (Denmark)

    Dau, Susanne

    2016-01-01

    Blended Learning has been implemented, evaluated and researched for the last decades within different educational areas and levels. Blended learning has been coupled with different epistemological understandings and learning theories, but the fundamental character and dimensions of learning...... in blended learning are still insufficient. Moreover, blended learning is a misleading concept described as learning, despite the fact that it fundamentally is an instructional and didactic approach (Oliver & Trigwell, 2005) addressing the learning environment (Inglis, Palipoana, Trenhom & Ward, 2011......) instead of the learning processes behind. Much of the existing research within the field seems to miss this perspective. The consequence is a lack of acknowledgement of the driven forces behind the context and the instructional design limiting the knowledge foundation of learning in blended learning. Thus...

  11. an examination of risk allocation preferences in public-private

    African Journals Online (AJOL)

    Chikara Onda

    tension in many negotiations between the public and private sector in PPPs ... compensates for higher cost of capital used by private sector partners .... this study, both the public sector client and private sector contractor should share the risks.

  12. O CAPITAL COMUNITÁTIO E O PPC: A PARTICIPAÇÃO PÚBLICA, PRIVADA E COMUNITÁRIA NA CONSTRUÇÃO DO DESENVOLVIMENTO LOCAL / THE COMMUNITARIAN CAPITAL AND THE PPCP: THE PUBLIC, PRIVATE AND COMMUNITARIAN PARTICIPATION IN THE CONSTRUCTION OF THE LOCAL DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Sebastião Sibá Machado Oliveira

    2009-12-01

    Full Text Available The peasant struggle has as its major feature the battle for control of the main means of production in the rural economy: the land. This struggle, in general, is characterized by subsistence production and its connection to capital is very conflicted and it only happens when rural communities become suppliers of inputs and raw materials for agro-industrial complex. When all the productive rural communitarian organizations move to the stage of medium and high complexity of the production process, they form the "Communitarian Capital" and "PPCP" (Public, Private and Communitarian Participation that is, the method of local development in which community appropriates the means of production in whole or in part considering all links of agricultural and forestry supply chains promoted by the state. Our study is an evaluation of the trajectory of peasant struggle in Acre in three phases: a the struggle for land tenure, which began in the 1970s, b rural social movements and the struggle in the land, and c the current moment of the industrialization of Acre and the new version of the capital.

  13. Capital budgeting under relational contracting: optimal ranking and duration criteria for schemes of concession, project-financing and public-private partnership

    OpenAIRE

    Biondi, Yuri

    2009-01-01

    International audience; Project-financing and public-private partnership schemes are joint projects of investment that are generally submitted to investment valuation criteria based on compound discounting. However, the theoretical basis of these criteria is at issue nowadays. According to recent studies on relational contracting economics and behavioral finance, joint projects of investment can be considered as special relational environments where the project's returns improve on alternativ...

  14. Intellectual Capital.

    Science.gov (United States)

    Snyder, Herbert W.; Pierce, Jennifer Burek

    2002-01-01

    This review focuses on intellectual capital and its relationship to information professionals. Discusses asset recognition; national practices and the acceptance of intellectual capital; definitions of intellectual capital; measuring intellectual capital, including multiple and single variable measures; managing intellectual capital; and knowledge…

  15. Governing Global Capital

    DEFF Research Database (Denmark)

    Harrington, Brooke

    in helping elites avoid taxes and other forms of regulation. The study documents how the means through which they achieve this objective - shifting billions in private capital wealth between Asia, Africa, India and Europe - and how this affects the balance of regional economic power. Drawing from...

  16. The structure of privatization plans

    NARCIS (Netherlands)

    Perotti, E.C.; Guney, S.E.

    1993-01-01

    In the last decade, large-scale privatization programs have transformed the structure of corporate ownership in many countries, and are a major cause of the development of their capital markets. They have contributed to nondebt financing of the public deficit, attracted foreign capital and

  17. Privatization in economic theory

    Directory of Open Access Journals (Sweden)

    Drakić Maja

    2007-01-01

    Full Text Available In reality privatization has never occurred according to the handbook rules of ordinary market transactions. Not even in advanced market economies can privatization transactions be described by the Walrasian or Arrowian, or Leontiefian equilibrium models, or by the equilibrium models of the game theory. In these economies transactions of privatization take place in a fairly organic way – which means that those are driven by the dominance of private property rights and in a market economy. But despite this fact Western privatization also some peculiar features as compared to ordinary company takeovers, since the state as the seller may pursue non – economic goals. Changes in the dominant form of property change positions and status of many individuals and groups in the society. That’s why privatization can even less be explained by ordinary market mechanisms in transition countries where privatizing state-owned property have happened in a mass scale and where markets and private property rights weren't established at the time process of privatization began. In this paper I’ll discuss and analyze the phenomenon of privatization in context of different economic theories arguing that empirical results go in favor of the public choice theory (Buchanan, 1978, theory of "economic constitution" (Brennan and Buchanan 1985, (Buchanan and Tullock, 1989, and theory of "collective action" (Olson, 1982. These theories argues that transition from one economic system into another, for example transition from collectivistic, socialistic system into capitalism and free market economy with dominant private property, will not happen through isolated changes of only few economic institutions, no matter how deep that changes would be. In other words privatization can not give results if it's not followed by comprehensive change of economic system because privatized companied wouldn't be able to operate in old environment.

  18. Intellectual Capital

    DEFF Research Database (Denmark)

    Bukh, Per Nikolaj; Christensen, Karina Skovvang

    2015-01-01

    Intellectual capital (IC) consists of human capital, organizational capital, and relational capital, and their relationships. It has been said to be important to explain the difference between market value and book value of a firm, but measurement of IC is more likely to be important because...

  19. Privatising general practice in Mongolia: a trial of needs-adjusted capitation.

    Science.gov (United States)

    Hindle, D; O'Rourke, M; Batsuury, R; Orgil, B

    1999-01-01

    Mongolia's family doctors have long been salaried government employees. The crisis caused by the break-up of the Soviet Bloc required the government to seek a balance between command and market economies, and this influenced the decision to introduce capitated private practice for family doctor services on a trial basis. This article explains why and how a risk-adjusted capitation model was developed by a blend of empirical analysis and expert judgement, which comprises ten classes of clients defined by age-sex and poverty groupings. Payment relativities across the classes were set in proportion to a desirable (or target) number of contacts per year. Separate processes were used to set the targets for patient-initiated and active (health promotion and illness prevention) contacts. The model is intended to lead to greater equity of service access and provision. It should also encourage a greater concern for health outcomes, sensitivity to clients' views, and operational efficiency.

  20. Private Schools

    Data.gov (United States)

    Department of Homeland Security — This Private Schools feature dataset is composed of all Private elementary and secondary education features in the United States as defined by the Private School...

  1. Outside Entrepreneurial Capital

    OpenAIRE

    Andy Cosh; Douglas Cumming; Alan Hughes

    2005-01-01

    This paper investigates the internal versus external financing decisions among 1900 early stage privately held UK firms in 1996-1997. We study the factors that affect rejection rates in applications for outside finance among the different types of investors, taking into account the non-randomness in a firm’s decision to seek outside finance. The data support the traditional pecking order theory; firms with greater capital expenditures / profits are more likely to seek finance and apply for mo...

  2. Does Government Public Capital Expenditure Matter?: Evidence for Canada

    OpenAIRE

    Dadgostar, Bahram; Mirabelli, Frank

    1998-01-01

    Does the provision of Canadian government capital expenditures and government deficits displace private economic activity? In the U.S., Erenburg (1993) found that private sector investment spending is enhanced by expected increases in public spending on infrastructure, while also showing that deficit spending has no significant effect on private investment. There is no empirical study to date that addresses the relationship between government capital investment and government debt on private ...

  3. Privatization in Turkey

    OpenAIRE

    Kjellstrom, Sven B.

    1990-01-01

    State capitalism has been a basic tenet of the developing strategy for Turkey for half a century, with import-substituting industrialization through state economic enterprises (SEEs) as a guiding principle. By 1980 a serious economic and political crisis called for a reassessment of economic policies. Policy reorientation was radical : from import substitution to export promotion, from interventionism to market forces, and from promotion of SEEs to promotion of the private sector. The state's...

  4. Measuring Capital

    OpenAIRE

    W. Erwin Diewert

    2003-01-01

    The paper revisits Harper, Berndt and Wood (1989) and calculates Canadian reproducible capital services aggregates under alternative assumptions about the form of depreciation, the opportunity cost of capital and the treatment of capital gains. Five different models of depreciation are considered: (1) one hoss shay; (2) straight line depreciation; (3) declining balance or geometric depreciation; (4) linearly declining efficiency profiles and (5) linearly increasing maintenance profiles. The l...

  5. Working Capital Management and Firm Listing Status

    OpenAIRE

    Seraina Anagnostopoulou

    2012-01-01

    This study comparatively examines the determinants of working capital management for listed vs. unlisted firms, and assesses the impact of this policy on profitability by focusing on the cash conversion cycle, a commonly used measure of working capital management. By using a large UK public and private firm sample, it is found that private firms have significantly lower cash conversion cycles than their public counterparts, and that traditional determinants of the cycle significantly differ b...

  6. An Economic Viewpoint on Capitalism Bashing

    Directory of Open Access Journals (Sweden)

    Burnete Sorin

    2016-12-01

    Full Text Available In this paper I discuss two long disputed notions: that capitalism without crises is a fallacy respectively that capitalism bashing, however severe, will not endanger the system itself. Yet proving both is not an easy task since the capitalism issue has always been a cupellation of theory, ideology and political precepts, which are controversial and hard to disentangle. That capitalism detractors are numberless is a truism. Yet criticism against capitalism, however fierce, has always been clearly delineated. Not any more: globalization has rendered the picture dangerously fuzzy. It is now hard to ascertain whether someone who will harangue about the ostensible evils of globalization is also a declared anti-capitalist. The blend of capitalism and globalization seems to be pure dynamite.

  7. Capital gains

    International Nuclear Information System (INIS)

    Blishen, C.

    1997-01-01

    This article examines African and Middle East oil and natural gas project financing. Capital markets financing, Ras Laffan's project bonds, capital market issues in Saudi Arabia, the movement toward gas and away from oil, and Islamic opportunities are discussed, African and Middle East oil and gas projects are listed. (UK)

  8. Understanding Capitalism

    DEFF Research Database (Denmark)

    du Gay, Paul; Morgan, Glenn

    2013-01-01

    This chapter places The New Spirit of Capitalism in the context of the development of capitalism over the last twenty years, up to and including the 200-7-8 financial crisis and the ongoing economic crisis which has developed out of this and is now focused on the relationship between state expend...

  9. Private Tutoring and Social Cohesion

    Science.gov (United States)

    Heyneman, Stephen P.

    2011-01-01

    Mastering the public school curriculum is so important to a child's occupational future that in many regions of the world "shadow" education outside of the public system has now become the norm. In one way, this is excellent news because private investment in human capital is a strong contributor to economic and social development.…

  10. CAPITAL STRUCTURE AND VENTURE CAPITAL

    Directory of Open Access Journals (Sweden)

    Becsky-Nagy Patricia

    2015-07-01

    Full Text Available Venture capital significantly changes the capital structure of the portfolio company at the time of the investment. Venture capitalists contribute to the company’s success through their active involvement in the management and their added value appears in the increase of the value of the equity. At the same time with taking active role in the management, agency problem occurs, that complicates the cooperation and the success of exit. In this article we search the answer for the question whether the preferred equity, that are commonly used in the US for bridging the agency problem, are used and able to help Hungarian venture capitalists to manage agency problems. On the other hand we examined how the venture capital affect capital structure, how the venture capitalists value added appear in the capital structure. During the evaluation of the three case studies, we came to the conclusion, that the venture capital investments have positive effect on the liabilities of the enterprises, as the capital structure indexes show. However, the investors need the ownership, which help them to step up resolutely, when things change for the worse, and companies need the expertise, which the investors bring with their personal assistance. The investor’s new attitude also has positive effect on a mature company, which has an experienced leader, because he can show another aspect, as a person who come from outside. During the examination of the capital structure, we cannot disregard the events of the company’s environment, which have effects on the firm. The investor’s decisions also appear different ways. Because of this, every venture capital investment is different, just as the capital structure of the firms, in which they invest.

  11. SWOT analysis & privatization in Croatia

    Directory of Open Access Journals (Sweden)

    Družić Ivo

    2006-01-01

    economic consequences of war. On the macro level it took approximately three years to restructure and downsize CPF majority ownership in 2700 companies to majority ownership in just 70 companies. Overall weakness of the restructuring process is concentrated in a painfully slow emergence of sound business activity in market environment. The economic inefficiency of this model is reflected in the substitution of modern entrepreneurial capitalism, which was hoped for with retrograde rent seeking capitalism, typical of early capitalism in its transition from a feudal to an industrial environment two centuries ago. Instead of efficiency and development, it is characterized by the drain of liquid capital through inflated debts, false reserves and falsified claims and the tunneling of constant capital through "soft" loans into tax havens outside the country. Therefore, the solution is not to deal with the consequences, which are evident in various affairs that are treated as individual deviations of the more or less good model of privatization. The problem lies in the model itself.

  12. 38 CFR 61.10 - Capital grants-general.

    Science.gov (United States)

    2010-07-01

    ...) VA HOMELESS PROVIDERS GRANT AND PER DIEM PROGRAM § 61.10 Capital grants—general. (a) VA provides capital grants to public or nonprofit private entities so they can assist homeless veterans by helping to... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Capital grants-general...

  13. Private Placement Debt Financing for Public Entities

    Science.gov (United States)

    Holman, Lance S.

    2010-01-01

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

  14. Venture Capital

    National Research Council Canada - National Science Library

    Lister, M. J; Andreassen, A; Bales, Shanda; Biddle, J. G; Chang, M. M; McCormick, R; Packard, W. J; Sun, T

    2006-01-01

    Leveraging venture capital to the advantage of the Naval Services should be viewed as part of the larger project of reforming the acquisition system to permit rapid introduction of new technologies...

  15. Private Labels

    OpenAIRE

    Kolmačková, Zuzana

    2013-01-01

    This Bachelor Thesis titled Private labels deals with distribution strategy based on the introduction of private labels especially in retail chains. At the beginning it is focused on the general concept of private label offered by retailers, where is mentioned basic characteristics, history and structuring of distribution brands. Subsequently this thesis informs readers about the introduction of new special distribution brands, which focus primarily on the new consumption habits of customers....

  16. Privat boligudlejning

    DEFF Research Database (Denmark)

    Andersen, Hans Skifter

    2008-01-01

    for private udlejningsboligers pris, økonomi og kvalitet. Det økonomiske afkast af investering i private udlejningsejendomme har været højt i de sidste 10 år, men fortrinsvist pga. værdistigninger. For tiden er disse gået i stå, hvilket gør den økonomiske fremtid for den private udlejningssektor mindre...

  17. Derivatives and Global Capital Flows: Applications to Asia

    OpenAIRE

    J. A. Kregel

    1998-01-01

    There are four factors involved in the current financial crisis in Asia that have caused surprise. Since the Latin American debt crisis was thought to have been aggravated by the dominance of syndicated private bank lending, borrowers were encouraged to increase private direct investment flows. The stability of capital flows to Asia was used as an example. Yet, the Asian crisis appears to have been precipitated by the reversal of short-term private bank lending. Second, the flows of capital t...

  18. Private prisons

    Directory of Open Access Journals (Sweden)

    Dimovski Darko

    2014-01-01

    Full Text Available The author, based on the circumstances that contributed to the creation of private prisons, has explained the historical development of private prisons in the United States and Great Britain. After that, the author has analyzed the strengths and weaknesses of the prison run by private companies. Namely, the author has, stating the benefits of private prisons (reduced overcrowding penitencijarnih institution, cheaper accommodation cost per prisoner, provide better services, the possibility of applying a new philosophy in the manner of execution of sentence, with modern Penitentiary program, with the aim of re-socialization and the reduction of recidivism and weaknesses of the private prisons (the question of legitimac, a chronic lack of space in the Penitentiary system is not solved, business-oriented policies of private prisons, less salaries, poor performance of the security service, worst food, weak enforcement of parole, lack of appropriate penitentiary program, wanted to draw attention to the professional public about controversy of the introduction private companies in the management structure of penitentiary institutions . As the Republic of Serbia is, constantly in the last twenty years, faced with the increasing number of inmates, as well as the chronic shortage of money, which affects on the situation in industrial areas of prisons, there are options to give licenses to private companies to manage prisons. Therefore, the author has paid special attention to potential problems of introducing private prisons in the penitentiary system in Serbia.

  19. Financial capital and intellectual capital in physician practice management.

    Science.gov (United States)

    Robinson, J C

    1998-01-01

    Medical groups need financial resources yet most retain no earnings and have no reserves. Physician practice management (PPM) companies have recognized the need for investment and the scarcity of indigenous capital in the physician sector and are rushing to fill the void. Resources are being contributed by venture capitalists, bond underwriters, private investors, pharmaceutical manufacturers, health plans, hospital systems, and public equity markets. The potential contribution of PPM firms is to nurture the intellectual capital of leading physician organizations and diffuse it throughout the health care system. The risk is that short-term financial imperatives will impede necessary long-term investments.

  20. Private Roads

    NARCIS (Netherlands)

    Verhoef, Erik T.

    2007-01-01

    This paper studies the efficiency impacts of private toll roads in initially untolled networks. The analysis allows for capacity and toll choice by private operators, and endogenizes entry and therewith the degree of competition, distinguishing and allowing for both parallel and serial competition.

  1. Intellectual Capital

    National Research Council Canada - National Science Library

    Fondo, Clint

    2004-01-01

    ...), of the California Business, Transportation and Housing Agency. The goal of this project was to identify and document both the history of valuing IC, and the models currently in use throughout the private sector...

  2. Bolivian petroleum privatization taking shape

    International Nuclear Information System (INIS)

    Anon.

    1995-01-01

    Bolivia is boldly embracing a free market philosophy that extends to liberalization of the country's petroleum sector. Although petroleum industry privatization is being considered by several South American countries, only Argentina has so far completely opened its oil sector and fully privatized its state oil company. The Bolivian government's own version of privatization, capitalization, is a groundbreaking attempt to attract massive investment from the private sector without leaving the government open to accusations of stripping the country's assets for short term electoral gain. The paper discusses the government's strategy to sell the state owned company either as a single unit or to split it into upstream and downstream units. Questions still to be resolved, international interest in the move, bolivian potential, and the gas supply infrastructure are also discussed

  3. Allergy Capitals

    Science.gov (United States)

    ... to face one of the season’s biggest problems: tree pollen . Common symptoms of springtime allergies include: Runny nose Itchy eyes Sneezing Congestion “Our Spring Allergy Capitals report is a valuable tool to help identify cities where seasonal allergy symptoms can create challenges,” ...

  4. Capital Unchained

    DEFF Research Database (Denmark)

    Bryan, Dick; Rafferty, Michael; Wigan, Duncan

    2017-01-01

    on measuring (by accountants), managing (by corporations) and monitoring (by International Political Economy scholars and regulators), this article explores the longer term implications of accumulation of internationalised capital in intangible and abstract forms, and the prominent role of finance and offshore...

  5. Corporate Reputation,Auditor Reputation and the Cost of Equity Capital--An Empirical Analysis of Chinese Listed Private Companies%公司声誉、审计师声誉与权益资本成本基于中国民营上市公司的经验证据

    Institute of Scientific and Technical Information of China (English)

    张嘉兴; 余冬根; 刘艳春

    2016-01-01

    By taking A-share listed private companies in Shanghai and Shenzhen Stock Ex-changes from 2009 to 2013 as research objects,this paper examines empirically the relation among the auditor reputation,the corporate reputation and the cost of equity capital.The results show that the auditor reputation and the corporate reputation respectively has significant negative cor-relation with the cost of company's equity capital by controlling other conditions.Besides,further study finds that as the corporate reputation is established gradually,the influence of the auditor reputation on the company's equity capital cost will be gradually weakened,in another word,the corporate reputation has a substitution effect on the auditor reputation.The findings expand the research of the auditor reputation and corporate reputation mechanism,and provide a valuable reference for the future corporate governance of private companies.%以2009~2013年中国沪深两市 A 股民营上市公司为样本,实证检验审计师声誉、公司声誉与权益资本成本的关系。研究发现:限制其他条件,审计师声誉、公司声誉分别与公司权益资本成本呈显著负相关。进一步研究发现,随着公司自身声誉的逐步建立,审计师声誉对于公司权益资本成本的影响将会逐渐减弱,公司声誉对于审计师声誉具有替代作用。

  6. Social opportunity cost of capital: empirical estimates

    Energy Technology Data Exchange (ETDEWEB)

    Townsend, S.

    1978-02-01

    This report develops estimates of the social-opportunity cost of public capital. The private and social costs of capital are found to diverge primarily because of the effects of corporate and personal income taxes. Following Harberger, the social-opportunity cost of capital is approximated by a weighted average of the returns to different classes of savers and investors where the weights are the flows of savings or investments in each class multiplied by the relevant elasticity. Estimates of these parameters are obtained and the social-opportunity cost of capital is determined to be in the range of 6.2 to 10.8%, depending upon the parameter values used. Uncertainty is found to affect the social-opportunity cost of capital in two ways. First, some allowance must be made for the chance of failure or at least of not realizing claims of a project's proponents. Second, a particular government project will change the expected variability of the returns to the government's entire portfolio of projects. In the absence of specific information about each project, the use of the economy-wide average default and risk adjustments is suggested. These are included in the empirical estimates reported. International capital markets make available private capital, the price of which is not distorted by the U.S. tax system. The inclusion of foreign sources slightly reduces the social-opportunity cost of capital. 21 references.

  7. Trinidadian capitalism

    Directory of Open Access Journals (Sweden)

    Kevin A. Yelvington

    1999-07-01

    Full Text Available [First paragraph] Capitalism: An Ethnographic Approach. DANIEL MILLER. Oxford: Berg, 1997. x + 357 pp. (Cloth £39.00, Paper £17.99 Women, Labour and Politics in Trinidad and Tobago: A History. RHODA E. REDDOCK. London: Zed, 1994. vi + 346 pp. (Cloth £39.95, Paper £15.95 Despite the underdeveloped state of the scholarship on its admittedly short sugar plantation slavery period, we now have a corpus of studies on various aspects of capitalism in Trinidad - from its historical advent (Sebastien 1978 to its twentieth-century manifestation in the petroleum sector (Seers 1964; Sandoval 1983, and from the ethnic structure of labor markets (Camejo 1971; Harewood 1971 and the role of capitalism in racial/ethnic inequality (Henry 1993; Coppin & Olsen 1998 to the way ethnicity affects business, big (Button 1981; Parris 1985; Centre for Ethnic Studies 1993 and small (Ryan & Barclay 1992; Griffith 1997, and the way ethnicity and gender are used in class recruitment (Yelvington 1995. There are also a number of fine working-class histories (e.g., Rennie 1973; Ramdin 1982; Basdeo 1983 and important works on the labor riots and strikes and the nature of the colonial state during the crises of the 1930s (e.g., Thomas 1987; Singh 1994. The two books under review here complement the works mentioned above, and they complement each other as well: Reddock's deals with the way capitalism up to the mid-century was buttressed by colonial politics, and explores how this formation engendered certain kinds of political responses, while Miller approaches capitalism through the assumption that fundamental changes in the post-Oil Boom period (ca. 1973-80 brought about considerable autonomy between production and consumption that can and should now be read through an analysis of the cultural circulation of images and commodities in the society. These books are both noteworthy because they engage in explicit theorizing on what capitalism was and is, and what it did and

  8. Instrumental Capital

    Directory of Open Access Journals (Sweden)

    Gabriel Valerio

    2007-07-01

    Full Text Available During the history of human kind, since our first ancestors, tools have represented a mean to reach objectives which might otherwise seemed impossibles. In the called New Economy, where tangibles assets appear to be losing the role as the core element to produce value versus knowledge, tools have kept aside man in his dairy work. In this article, the author's objective is to describe, in a simple manner, the importance of managing the organization's group of tools or instruments (Instrumental Capital. The characteristic conditions of this New Economy, the way Knowledge Management deals with these new conditions and the sub-processes that provide support to the management of Instrumental Capital are described.

  9. partial capitalness

    Directory of Open Access Journals (Sweden)

    Elena Grigoryeva

    2017-06-01

    A world away, in the Cape Winelands, architects of Stellenbosch struggle for the identity of the city, the capital of the unique cultural landscape. Here the traditional African culture is mixed with three century-long tradition of winegrowing and winemaking. This wonderful mixture was placed on the UNESCO Tentative List of World Heritage Sites. The authors of the project use cultural heritage protection laws to protect their city from chaotic development.

  10. Does corporate social responsibility need social capital? The example of the 'Sector Model Social Responsibility' of the 'Foreign Trade Association of the German Retail Trade (AVE)', a public private partnership project

    OpenAIRE

    Hiss, Stefanie

    2004-01-01

    This paper raises the question of whether controlling companies with the help of a monitoring system is a successful way to establish social standards within the supply chain and to help to spread social standards into developing societies. Since the debate thus far has concentrated strongly on the question of what monitoring systems look like and how they are implemented, this paper aims to broaden the discussion by pointing out the possible interrelations between the role of social capital ...

  11. Tailoring the mechanical and biodegradable properties of binary blends of biomedical thermoplastic elastomer.

    Science.gov (United States)

    Ang, Hui Ying; Chan, Jingni; Toong, Daniel; Venkatraman, Subbu S; Chia, Sing Joo; Huang, Ying Ying

    2018-03-01

    Blending polymers with complementary properties capitalizes on the inherent advantages of both components, making it possible to tailor the behaviour of the resultant material. A polymer blend consisting of an elastomer and thermoplastic can help to improve the mechanical integrity of the system without compromising on its processibility. A series of blends of biodegradable Poly(L-lactide-co-ɛ-caprolactone) (PLC) and Poly-(l,l-lactide-co-glycolic acid) (PLLGA), and PLC with Poly-(d,l-lactide-co-glycolic acid) (PDLLGA) were evaluated as a potential material for a biodegradable vesicourethral connector device. Based on the Tg of the blends, PLC/PLLGA formed an immiscible mixture while PLC/PDLLGA resulted in a compatible blend. The results showed that with the blending of PLC, the failure mode of PLLGA and PDLLGA changed from brittle to ductile fracture, with an significant decreas in tensile modulus and strength. SEM images demonstrated the different blend morphologies of different compositions during degradation. Gel Permeation Chromatography (GPC) and mechanical characterization revealed the degradation behaviour of the blends in this order (fastest to slowest): PDLLGA and PLC/PDLLGA blends > PLLGA and PLC/PLLGA blends > PLC. The PLC/PLLGA (70:30) blend was recommended as a suitable for the vesicourethral connector device application, highlighting the tailoring of blends to achieve a desired mechanical performance. Copyright © 2017 Elsevier Ltd. All rights reserved.

  12. Privatization costs

    International Nuclear Information System (INIS)

    Jackson, I.

    2007-01-01

    The efforts in progress now in Great Britain to liberalize the nuclear decommissioning activity market imply that by 2012 the competitive commercial private companies will lead the national nuclear decommissioning and decontamination related activity market. Paper dwells upon the new market peculiar features and upon some peculiar features of the new market related activities [ru

  13. Using Venture Capital to Improve Army Research and Development

    National Research Council Canada - National Science Library

    Held, Bruce

    2000-01-01

    ...) while keeping current equipment relevant and affordable. This issue paper introduces the idea that the Army should fund some of its technology development through a private venture capital organization...

  14. Flexible Capitalism

    DEFF Research Database (Denmark)

    Approaching “work” as at heart a practice of exchange, this volume explores sociality in work environments marked by the kind of structural changes that have come to define contemporary “flexible” capitalism. It introduces anthropological exchange theory to a wider readership, and shows how...... the perspective offers new ways to enquire about the flexible capitalism’s social dimensions. The essays contribute to a trans-disciplinary scholarship on contemporary economic practice and change by documenting how, across diverse settings, “gift-like” socialities proliferate, and even sustain the intensified...

  15. Contemporary forms of international movement of capital

    Directory of Open Access Journals (Sweden)

    Sanja Šovran

    2016-11-01

    Full Text Available International movement of capital is one of the most important forms of international economic cooperation and achievement of strategic goals of enterprises. It leads to international diversification of business activities, strengthening of competitive advantage, changes in economic structures, employment rates and economic stability of participating countries. The present research addresses the contemporary forms of international movement of capital, with an emphasis on the public-private partnerships and concessions. The creation of different forms of public-private partnerships (PPPs in Serbia gained in importance in the early ‘90s of the 20th century. PPP implies joint activities within the framework of which the public and private sector pool resources, especially financial capital and expertise in order to meet the public needs of local, regional or national significance for adequate resource allocation. This type of partnership between the public and private sector has become an effective way towards a more rational use of limited resources and development of business entities from different sectors. The partnership of the public and private sector is particularly important in the construction and maintenance of transportation and other infrastructure facilities. Concessions represent a special form of public-private partnerships.

  16. Review of capital investment in economic growth cycle

    Science.gov (United States)

    Shaffie, Siti Salihah; Jaaman, Saiful Hafizah; Mohamad, Daud

    2016-11-01

    The study of linkages of macroeconomics factors is prominent in order to understand how the economic cycle affects one another. These factors include interest rate, growth rate, saving and capital investment which are mutually correlated to stabilize the GDP. Part of this study, it will look upon the impact of investment which emphasize the efficiency of capital investment to the economic growth. Capital investment is one investment appraisal that gives impact to the economic growth. It is a long term investment and involve with large amount of capital to incorporate the development of private and public capital investment.

  17. Privatization and Financial Market Development: Theoretical Issues

    OpenAIRE

    Gabriella Chiesa; Giovanna Nicodano

    2003-01-01

    Stock market capitalization in developed countries grew while massive privatization plans were in progress. It is however possible that stock market development would have occurred anyway. Below we identify features that are specific to share-issue privatizations (SIPs) and should a priori impact on market liquidity and market size. A positive correlation between such features and market development in a cross section of countries would support the claim that certain types of SIPs contribute ...

  18. Decentralized Blended Acquisition

    NARCIS (Netherlands)

    Berkhout, A.J.

    2013-01-01

    The concept of blending and deblending is reviewed, making use of traditional and dispersed source arrays. The network concept of distributed blended acquisition is introduced. A million-trace robot system is proposed, illustrating that decentralization may bring about a revolution in the way we

  19. Private power in China

    International Nuclear Information System (INIS)

    Daniel, Martin

    1999-10-01

    Contains Executive Summary and Chapters on: Introduction; Political and economic background; Energy supply; The Chinese electricity sector; Private power in China; Issues for private investors; Fuel choice in private projects; Private investors in China; Listed Chinese generators; Private power prospects; Implemented private generation projects; Planned private Generation Projects; Plants owned by listed Chinese generators. (Author)

  20. Triads of capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase

    of capital means a coherent stock of capital, including social, cultural and physical capital, which belongs to a local community. The case of civic organization in rural Denmark 1800-1900 shows how the three capitals successively acted as driving forces: physical capital about year 1800, social capital...... about year 1880, and cultural capital about year 1900. In each case, one form of capital changed the two others in a chain reaction process, which ultimately led to a major reorganization of the triads of capital in the local rural communities....

  1. Nuclear privatization

    International Nuclear Information System (INIS)

    Jeffs, E.

    1995-01-01

    The United Kingdom government announced in May 1995 plans to privatize the country's two nuclear generating companies, Nuclear Electric and Scottish Nuclear. Under the plan, the two companies will become operating divisions of a unified holding company, to be called British Electric, with headquarters in Scotland. Britain's nuclear plants were left out of the initial privatization in 1989 because the government believed the financial community would be unwilling to accept the open-ended liability of decommissioning the original nine stations based on the Magnox gas-cooled reactor. Six years later, the government has found a way around this by retaining these power stations in state ownership, leaving the new nuclear company with the eight Advanced Gas-cooled Reactor (AGR) stations and the recently completed Sizewell B PWR stations. The operating Magnox stations are to be transferred to BNFL, which operates two Magnox stations of their own at Calder Hall and Chapelcross

  2. Private law

    DEFF Research Database (Denmark)

    working and researching in the key areas of law, security and privacy in IT, international trade and private law. Now, in 2010 and some seven conferences later, the event moves to Barcelona and embraces for the first time the three conference tracks just described. The papers in this work have all been...... blind reviewed and edited for quality. They represent the contributions of leading academics, early career researchers and others from an increasing number of countries, universities and institutions around the world. They set a benchmark for discussion of the current issues arising in the subject area...... and continue to offer an informed and relevant contribution to the policy making agenda. As Chair of the Conference Committee, I am once more very proud to endorse this work "Private Law: Rights, Duties & Conflicts" to all those seeking an up to date and informed evaluation of the leading issues. This work...

  3. The Effects of Foreign Capital Inflows

    Directory of Open Access Journals (Sweden)

    Sangyong Joo

    1998-03-01

    Full Text Available This thesis analyzes the pre-1996 foreign capital inflows to Korea and the major impact of macroeconomic variables, discussed the background of South Korean foreign exchange crisis. VAR model using the analysis results reflect the impact of capital inflows and the increase in the volume of overseas department of communication makes the current account deteriorated, and no increase in revenue. It is well known that the positive effects of free capital flows can lower interest rates, but after 1980 the results of analysis of data showed that, despite the freedom of capital inflows, but interest rates did not decline. In contrast, the increase in domestic credit makes incomes increase, although in the short term, but it makes interest rates decline. Under the circumstance than the inflow of overseas capital did not bring positive effects to economic circumstances, although the private sector (private enterprises and the number of financial institutions has worsened the financial structure, but the government finances and private consumption has been showing a strong and stable trend, deflation does not exist. One particularly striking is the sudden increase of the phenomenon of short-term debt, although a higher proportion of short-term debt, but the basic conditions for economic point of view, the inevitability and certainty of the foreign exchange crisis, there is still room for debate.

  4. Entanglement in miscible blends

    Science.gov (United States)

    Watanabe, Hiroshi

    2010-03-01

    The entanglement length Le of polymer chains (corresponding to the entanglement molecular weight Me) is not an intrinsic material parameter but changes with the interaction with surrounding chains. For miscible blends of cis-polyisoprene (PI) and poly(tert-butyl styrene) (PtBS), changes of Le on blending was examined. It turned out that the Le averaged over the number fractions of the Kuhn segments of the components (PI and PtBS) satisfactorily describes the viscoelastic behavior of pseudo-monodisperse blends in which the terminal relaxation time is the same for PI and PtBS.

  5. Fundraising Basics for Private School Facilities

    Science.gov (United States)

    Roach, Arthur H.

    2009-01-01

    This report examines the process behind setting up and implementing a "capital campaign": a program for raising money for new or renovated facilities at private K-12 schools. The report covers tax information regarding gifts to institutions then offers advice for setting up a comprehensive development program, including fundraising software and…

  6. Ciemat Relational Capital: Institutional Presence

    International Nuclear Information System (INIS)

    Vaquero Ortiz, E. M.; González Pineda, L. M.; Cascante Díaz, E.

    2015-01-01

    The resources in any organization for its activity development can be divided into two main groups: tangible assets and intangible assets. In recent decades there has been a recognition of the importance of the intangible assets as value generators for the development and growth of organizations. And the so called Relational Capital is among them Relational Capital arises from the relationship processes that an organization maintains with external agents. Thus, in the case of a public research institution, such as CIEMAT, it includes the relations with projects financing organizations, with partners and with customers (both public and private entities which are serviced), as well as the institutional presence understood as the participation in discussion and coordination forums (foundations, associations, committees…). This report presents a study of CIEMAT institutional presence in the year 2015.

  7. GOVERNMENT INTERVENTIONS IN THE VENTURE CAPITAL MARKET HOW JEREMIE AFFECTS THE HUNGARIAN VENTURE CAPITAL MARKET?

    Directory of Open Access Journals (Sweden)

    Fazekas Balazs

    2014-07-01

    Full Text Available JEREMIE (Joint European Resources for Micro to Medium Enterprises program was implemented as a part of the EU cohesion policy in the framework of 2007-2013 programming period. The primary objective of the program was to enhance the financing prospects of SME’s through structural funds that provide financial engineering instruments like loan, guarantee and venture capital. This paper focuses on the effects of JEREMIE on Hungary’s venture capital market. Since 2010, 28 JEREMIE backed venture capital funds were founded in four rounds and 130 billion HUF capital was allocated into these funds with the contribution of Hungarian government. A well-established venture capital market can boost entrepreneurship and innovation, therefore economic growth which is the foundation of government involvement. On the other hand, there is an extensive literature highlighting the limits and possible drawbacks of the active role of public sector in the venture capital market. There is a consensus in the literature that in the long run the extensive role of government in venture capital industry is counterproductive. Substituting market participants by government agencies will hardly result in a competitive and efficient market. However, temporarily as a catalyst public sector can contribute to the development of venture capital market. Direct government intervention supportable temporarily only in the infancy of the industry. The primary objective of every program must be to develop the market to the level where it becomes self-sustaining. This way the success of these programs must not be measured only by the amount of invested capital, financial performance of venture capital funds and venture capital backed companies. Raising private sector awareness and the progress of necessary institutions are also the criteria of a successful program. During the design and implementation of venture capital agendas these aspects must be taken into consideration. This

  8. MOOC Blended learning ontwikkelen

    NARCIS (Netherlands)

    Verjans, Steven

    2015-01-01

    Presentatie over het ontwerpen van leeractiviteiten (learning design) tijdens de zesde live sessie van de MOOC Blended learning ontwikkelen. Met gebruikmaking van presentatiematerialen van Diana Laurillard, Grainne Conole, Helen Beetham, Jos Fransen, Pieter Swager, Helen Keegan, Corinne Weisgerber.

  9. Fuel Property Blend Model

    Energy Technology Data Exchange (ETDEWEB)

    Pitz, William J. [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States); Mehl, Marco [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States); Wagnon, Scott J. [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States); Zhang, Kuiwen [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States); Kukkadapu, Goutham [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States); Westbrook, Charles K. [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States)

    2017-01-12

    The object of this project is to develop chemical models and associated correlations to predict the blending behavior of bio-derived fuels when mixed with conventional fuels like gasoline and diesel fuels.

  10. Blending into the mix

    Energy Technology Data Exchange (ETDEWEB)

    Adams, R.G.; Gibb, W.H.; Majid, K.A. [Power Technology (United Kingdom)

    1999-07-01

    Successful coal blending requires finding a careful balance between fuel costs and plant performance. A recent study of a Malaysian power plant shows how the utility (Tenaga Nasional Berhad (TNB)) could reduce fuel costs while avoiding boiler operating problems normally associated with firing low-grade coals. TNB`s Kaper 2220 MW power station in Selangor needed an improved method of coal blending for two new 500 MW units and for two existing 300 MW units. UK`s Power Technology was commissioned to identify what coal blends the boiler could tolerate. A Coal Quality Impact Model (CQIM) analysis of the effect of different coals and coal blends on combustion performance and economics, and a performance analysis of coal yard handling facility was made to determine whether the accuracy of the required blend could be achieved (using a Coal Handling Simulation, CHAS, software package). The CQIM study showed that the proportion of cheaper coals could be increased from 20% to 50% provided each shipment was adequately sampled. The CHAS study showed that use of a flat back reclaimer or modifications to the dry coal stove would allow accurate blending. 5 figs., 1 tab.

  11. Stockholders' interests in the energy system privatization

    International Nuclear Information System (INIS)

    Matei, Magdalena; Matei, Lucian

    2004-01-01

    The paper highlights the benefits and objectives of competition and privatization in the power sector. The reasons for electric utility privatization are numerous and vary from country to country. Some of the more evident reasons include the following: - Raising revenues for the state through asset sales; - Acquiring investment capital; - Improving managerial performance; - Moving toward market-determined prices; - Technology transfer; - Reducing the frequency of power shortages; - Reducing the cost of electricity to consumers through efficiency gain; - Taking advantage of creating national and regional power grids. Several objectives commonly associated with privatization, includes: - Improving access to private capital resources for the rehabilitation, replacement and eventual expansion of the electric power infrastructure; - Improving access to new technology and management practices designed to improve the performance of the sector; - Reducing corruption through the introduction of commercial practices which will lead to strengthened collections, transparent and accountable delivery of electricity and reduced political interference in commercial operations; - Improving customer service and customer choice through continued reform of the power sector as a result of innovation and reform introduced by the new owners; - Human resources development; - Improving environmental performance . The paper addresses the following items: - Some elements of a successful power sector privatization; - Stockholders' position versus privatization in Romania; - Managing 'The Change'; - Power sector privatization in Romania. The paper demonstrates that the power sector privatization is a key condition for EU's support for Romania accession. The international organization push towards this essential economic change, which will guarantee a real competition and a liberalized energy market in facto. Strategic privatization can be a positive step in improving energy service and

  12. Private placements

    International Nuclear Information System (INIS)

    Bugeaud, G. J. R.

    1998-01-01

    The principles underlying private placements in Alberta, and the nature of the processes employed by the Alberta Securities Commission in handling such transactions were discussed. The Alberta Securities Commission's mode of operation was demonstrated by the inclusion of various documents issued by the Commission concerning (1) special warrant transactions prior to listing, (2) a decision by the Executive Director refusing to issue a receipt for the final prospectus for a distribution of securities of a company and the reasons for the refusal, (3) the Commission's decision to interfere with the Executive Director's decision not to issue a receipt for the final prospectus, with full citation of the Commission's reasons for its decision, (4) and a series of proposed rules and companion policy statements regarding trades and distributions outside and in Alberta. Text of a sample 'short form prospectus' was also included

  13. Investment in capital markets

    OpenAIRE

    Ledenyov, Dimitri O.; Ledenyov, Viktor O.

    2017-01-01

    Investment in Capital Markets creates a strategic vision on the financial capital investment in the capital markets with the aim to get an increased return premium in the short and long time periods. The book is written with a main goal to explain the pros and cons of the financial capital investment in the capital markets, discussing the sophisticated investment concepts and techniques in the simple understandable readable general format language. We would like to highlight the three interes...

  14. Private Sector Investment in Pakistani Agriculture: The Role of Infrastructural Investment

    Science.gov (United States)

    1999-01-01

    private sector will be expected to play the major role in providing capital to the agricultural sector, with the government’s remaining involvement being largely one of furnishing basic infrastructure. The critical question of course is how willing is the private sector to commit capital to agricultural activities in this new policy environment? Has the private sector responded in the past to the increases in profitability provided by an expansion in infrastructure? If so, what types of infrastructure are most conducive in

  15. "We Had a Blast!": An Empirical Affirmation of Blended Learning as the Preferred Learning Mode for Adult Learners

    Science.gov (United States)

    Asunka, Stephen

    2017-01-01

    As many important issues pertaining to blended learning within the Sub-Saharan African context remain unexplored, this study implemented a blended learning approach in a graduate level course at a private university in Ghana, with the objective of exploring adult learners' attitudes, experiences and behaviors towards this learning approach, as…

  16. Heating plant privatization stagnates

    International Nuclear Information System (INIS)

    Janoska, J.; Benka, M.; Sobinkovic, B.; Haluza, I.

    2005-01-01

    The state has been talking about privatization of 6 municipal heating plants since 2001. The tenders were to start last year. But nothing has happened and the future is uncertain. The city councils would prefer to receive, if not 100%, then at least a majority stake in the heating plants free of charge. But the Cabinet has decided to sell 51% to investors. The privatization agency - the National Property Fund (FNM) is preparing a proposal to increase the stake offered for sale to 67%. According to information provided by the FNM the sale will begin after Cabinet approval. The Fund intends to apply the same model to the sale of all the heating plants. Last year, a major German company Verbundnetz Gas declared its interest in purchasing large municipal heating plants in Slovakia. But it has been waiting for a response ever since. The French company - Dalkia, which has 10-years' experience of doing business in Slovakia, is interested in all the heating plants to be offered for sale. The Austrian company - Stefe is not new to the business either, it is interested mainly in the regions where it has already established itself - Central and Eastern Slovakia. Strategic investors expect financial groups to show interest too. The Penta Group has not hid its ambitions - it has already privatised a company which represents the key to the future development of heat management in Bratislava - Paroplynovy cyklus. Whereas Penta is not new to the heat production business another financial group - Slavia Capital is still surveying the sector. Should it not succeed, it plans several projects that would allow it to take a stake in the sector

  17. Supporting School Leaders in Blended Learning with Blended Learning

    Science.gov (United States)

    Acree, Lauren; Gibson, Theresa; Mangum, Nancy; Wolf, Mary Ann; Kellogg, Shaun; Branon, Suzanne

    2017-01-01

    This study provides a mixed-methods case-study design evaluation of the Leadership in Blended Learning (LBL) program. The LBL program uses blended approaches, including face-to-face and online, to prepare school leaders to implement blended learning initiatives in their schools. This evaluation found that the program designers effectively…

  18. Blended Learning Design

    DEFF Research Database (Denmark)

    Pedersen, Lise

    2015-01-01

    University College Lillebaelt has decided that 30 percent of all educational elements must be generated as blended learning by the end of the year 2015 as part of a modernization addressing following educational needs: 1. Blended learning can help match the expectations of the future students who...... learning. 4. Blended learning can contribute to supporting and improving efficiency of educational efforts. This can for instance be done through programmes for several classes by using video conferencing, allocating traditional face to face teaching to synchronous and asynchronous study activities produce...... digital materials which can be employed didactically and reused by the teachers. This can also mean that the particular competencies which teaches have in Svendborg can be used at other locations in UCL and disseminated to a larger group of students without further costs. Educational Innovation...

  19. 13 CFR 107.1570 - Distributions by Licensee-optional Distribution to private investors and SBA.

    Science.gov (United States)

    2010-01-01

    ... Distribution to private investors and SBA. 107.1570 Section 107.1570 Business Credit and Assistance SMALL... private investors and SBA. If you have outstanding Participating Securities or Earmarked Assets, you may... and your private investors in proportion to the capital contributions of each. You must notify SBA of...

  20. AKRO/SF: Blend System

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — The Blend was the system used by the NMFS Alaska Regional Office to monitor groundfish catch from 1991 until 2002. The Blend system combined data from industry...

  1. Blended Learning over Two Decades

    Science.gov (United States)

    Zhonggen, Yu; Yuexiu, Zhejiang

    2015-01-01

    The 21st century has witnessed vast amounts of research into blended learning since the conception of online learning formed the possibility of blended learning in the early 1990s. The theme of this paper is blended learning in mainstream disciplinary communities. In particular, the paper reports on findings from the last two decades which looked…

  2. Morphology stabilization of heterogeneous blends

    International Nuclear Information System (INIS)

    1980-01-01

    A heterogeneous elastomer blend is described, consisting of at least two elastomer components which are cross-linkable by irradiation and having a stabilized morphology formed by subjecting the blend to high energy radiation to a point from below to slightly above the gel dose of the blend. (author)

  3. Locally restricted blending of Blobtrees

    NARCIS (Netherlands)

    Groot, de Erwin; Wyvill, B.; Wetering, van de H.M.M.

    2009-01-01

    Blobtrees are volume representations particularly useful for models which require smooth blending. When blending is applied to two or more Blobtree models, extra volume will be created in between the two surfaces to form a smooth connection. Although it is easy to apply blending, it is hard to

  4. Integrating an Interprofessional Education Model at a Private University

    Science.gov (United States)

    Parker, Ramona Ann; Gottlieb, Helmut; Dominguez, Daniel G.; Sanchez-Diaz, Patricia C.; Jones, Mary Elaine

    2015-01-01

    In 2012, a private University in South Texas sought to prepare eight cohorts of 25 nursing, optometry, pharmacy, physical therapy, and health care administration students with an interprofessional education activity as a model for collaborative learning. The two semester interprofessional activity used a blended model (Blackboard Learn®,…

  5. Studies of PVC/ENR blends: blend compositions

    International Nuclear Information System (INIS)

    Chantara Thevy Ratnam; Khairul Zaman Mohd Dahlan; Nasir, M.; Baharin, A.

    2002-01-01

    Blends of poly(vinyl chloride/epoxidized natural rubber (PVC/ENR) were prepared by using Bra bender Plasticorder at compositions ranging from 0-100% PVC. They were blended at 150 degree C mixing temperature, 50 rpm rotor speed and 10 minutes mixing time. The blends were characterized for tensile strength , elongation at break, glass transition temperatures and Fourier transform infra red spectroscopy (FTIR). Results revealed that as the PVC content increases the blend behaviour changes from elastomeric to glassy. However the blends found to be compatible at all compositions. (Author)

  6. Private benefits and board size: International evidence

    Directory of Open Access Journals (Sweden)

    Shinya Shinozaki

    2011-04-01

    Full Text Available In our analyses of 10,390 companies from 51 countries, we find that in countries that have small capital markets free cash flow is positively related to board size. However, this positive relation becomes significantly weak for companies in large securities markets. This result suggests that managers in underdeveloped capital markets have an incentive to construct less effective boards to extract private benefits. However, the distorted managerial incentive is alleviated in developed countries that have various disciplinary mechanisms to ensure good governance practices. We do not find clear evidence that legal protection of shareholder rights mitigates the managerial incentive to construct less effective boards.

  7. Chinese Entrepreneurs Human and Social Capital Benefiting Innovation

    DEFF Research Database (Denmark)

    Jensen, Kent Wickstrøm; Rezaei, Shahamak; Schøtt, Thomas

    2016-01-01

    An entrepreneur’s innovative work tends to benefit from the entrepreneur’s human capital in the form of entrepreneurial competencies partly based on education, and the entrepreneur’s social capital in the form of a network in the public sphere and a network in the private sphere, although this may...... of human and social capital for innovation, comparing Chinese entrepreneurs in China with Chinese entrepreneurs in the diaspora. We find that the level of education, entrepreneurial competencies and social capital varied between entrepreneurs in home country and diaspora. Of the social and human capitals...... also be a liability. The entrepreneur’s human and social capital depend on the social context, specifically whether the entrepreneur is residing in the home country or in the diaspora. An indigenous entrepreneur is embedded in own country, but a migrant entrepreneur has a dual embeddedness, in the old...

  8. On technology blending.

    OpenAIRE

    Rosenberg N

    1986-01-01

    ILO pub-WEP pub. Working paper on the blending of traditional technology and technological change in developing countries - argues that choice of technology should be compatible with labour intensive requirements and local level management and economic conditions; considers employment creation and economic implications; concludes that technology transfer should be selective. References.

  9. State Capitalism in Eurasia

    NARCIS (Netherlands)

    C. Spechler, Martin; Ahrens, Joachim; Hoen, Herman W.

    2017-01-01

    The book specifies the type of economic system that has arisen in Central Asian. It presents three types of state-capitalism established in the former Soviet Union states in Eurasia - crony, dual sector, and predatory capitalism.

  10. Capital Flight from Russia

    OpenAIRE

    Prakash Loungani; Paolo Mauro

    2000-01-01

    This paper documents the scale of capital flight from Russia, compares it with that observed in other countries, and reviews policy options. The evidence from other countries suggests that capital flight can be reversed once reforms take hold. The paper argues that capital flight from Russia can only be curbed through a medium-term reform strategy aimed at improving governance and macroeconomic performance, and strengthening the banking system. Capital controls result in costly distortions an...

  11. Apparatus for blending small particles

    International Nuclear Information System (INIS)

    Bradley, R.A.; Reese, C.R.; Sease, J.D.

    1975-01-01

    An apparatus is described for blending small particles and uniformly loading the blended particles in a receptacle. Measured volumes of various particles are simultaneously fed into a funnel to accomplish radial blending and then directed onto the apex of a conical splitter which collects the blended particles in a multiplicity of equal subvolumes. Thereafter the apparatus sequentially discharges the subvolumes for loading in a receptacle. A system for blending nuclear fuel particles and loading them into fuel rod molds is described in a preferred embodiment

  12. Capital Equipment Replacement Decisions

    OpenAIRE

    Batterham, Robert L.; Fraser, K.I.

    1995-01-01

    This paper reviews the literature on the optimal replacement of capital equipment, especially farm machinery. It also considers the influence of taxation and capital rationing on replacement decisions. It concludes that special taxation provisions such as accelerated depreciation and investment allowances are unlikely to greatly influence farmers' capital equipment replacement decisions in Australia.

  13. DEDUCTIBILITY OF CONTRIBUTIONS TO VOLUNTARY PRIVATE PENSIONS

    Directory of Open Access Journals (Sweden)

    LILIANA MUNTEAN

    2011-01-01

    Full Text Available The present paper approaches the notion of public and private pension in Romania. Pension can be seen in terms of a replacement income to individuals whose age no longer affords to operate in the labour market. Pension reform in Romania has allowed besides the public pension system, called Pillar I, which is a distributive system based on solidarity between generations also a private pension system that records the contributions of participants in individual accounts, based on capitalization, investment and accumulation of these contributions.

  14. Realisation Ratios in the Capital Expenditure Survey

    OpenAIRE

    Leon Berkelmans; Gareth Spence

    2013-01-01

    The Australian Bureau of Statistics capital expenditure survey is one of the inputs into the Reserve Bank’s forecasts for private business investment. This article considers several methods for interpreting the expectations data from this survey and evaluates these methods using out-of-sample forecasts. Forecasts based on long-run average realisation ratios are found to be the most accurate of the options considered, although the use of these forecasts for predicting investment in the nationa...

  15. Privatization and Education

    Science.gov (United States)

    Dash, Neena

    2009-01-01

    This paper highlights emerging trends, programmes and policies in privatization of education in Western countries. These trends are educational vouchers, choice of private schools, private school liberalization, private contracting of specific services, tuition tax credits and deductions for parents ,subsidies and assistance grants to private…

  16. Private Water Projects

    OpenAIRE

    Izaguirre, Ada Karina; Hunt, Catherine

    2005-01-01

    Drawing on the World Bank's Private Participation in Infrastructure Project Database, this Note reviews developments in the water and sewerage sector of developing countries in 2004 and changes in private participation in the sector since 2001. Data for 2004 show that total investment in water and sewerage projects with private participation amounted to nearly US$2 billion. Recent private ...

  17. Private sector approaches to workforce enhancement.

    Science.gov (United States)

    Wendling, Wayne R

    2010-06-01

    This paper addresses the private practice model of dental care delivery in the US. The great majority of dental care services are delivered through this model and thus changes in the model represent a means to substantially change the supply and availability of dental services. The two main forces that change how private practices function are broad economic factors, which alter the demand for dental care and innovations in practice structure and function which alter the supply and cost of services. Economics has long recognized that although there are private market solutions for many issues, not all problems can be addressed through this model. The private practice of dentistry is a private market solution that works for a substantial share of the market. However, the private market may not work to resolve all issues associated with access and utilization. Solutions for some problems call for creative private - public arrangements - another form of innovation; and market-based solutions may not be feasible for each and every problem. This paper discusses these economic factors and innovation as they relate to the private practice of dentistry, with special emphasis on those elements that have increased the capacity of the dental practice to offer services to those with limited means to access fee-based care. Innovations are frequently described as new care delivery models or new workforce models. However, innovation can occur on an ongoing and regular basis as dental practices examine new ways to combine capital and human resources and to leverage the education and skill of the dentists to a greater number of patients. Innovation occurs within a market context as the current and projected economic returns reward the innovation. Innovation can also occur through private-public arrangements. There are indications of available capacity within the existing delivery system to expand service delivery. The Michigan Medicaid Healthy Kids Dental program is discussed as

  18. India's petroleum privatization gathering speed

    International Nuclear Information System (INIS)

    Anon.

    1994-01-01

    Privatization of India's petroleum industry is seen as inevitable, even by the staunchest supporters of the state owned sector there. What has become clear is that the huge investments required for Indian exploration, refining, and marketing are beyond the scope of even the biggest state owned firms, such as Oil and Natural Gas Commission (ONGC) and Indian Oil Corp. (IOC). A proposal was put forth last fall to offer Bombay High offshore oil fields to leading multinationals for redevelopment to stem the production slide in India's mainstay producing area. Some of those projects could entail capital outlays of as much as $1 billion. In another step to attract foreign investment to the petroleum sector, India last month decided to take steps for phased decontrol of domestic crude oil prices to bring them in line with world market levels and help set the stage for privatization of ONGC. The paper describes major projects, the slide in oil production, price changes, the need for privatization, and the lukewarm interest in exploration

  19. THE ROLE OF INTELLECTUAL CAPITAL IN KNOWLEDGE - BASED SOCIETY

    OpenAIRE

    Denisa-Elena Parpandel

    2013-01-01

    In a knowledge - based society, organizations undergo permanent changes and transformations, and the key factor of such changes is intellectual capital regarded as one of the most critical, yet most strategic values an organization might own. Analyzing intelectual capital and knowledge society over the last decades has primarily emerged in private companies, whereas at present there is an increasing concern in all the fields of activity. The goal of this paper is to emphasize the im...

  20. Power development- private investment and initiatives

    International Nuclear Information System (INIS)

    Gupta, B.P.

    1995-01-01

    In the context of paucity of resources with Central/State public sector companies and to bridge the gap between rapidly growing demand for electricity and supply, a policy to encourage greater investments by private enterprises in the power sector with the objective of mobilizing additional resources for capacity addition in power generation and distribution, had been formulated in 1991 and is currently under implementation. The policy also allows liberal capital structuring and an attractive return on investment

  1. The Blended Learning Shift: New Report Shows Blended Learning Growing in U.S. Private Schools

    Science.gov (United States)

    Warren, Travis

    2015-01-01

    The technology conversation in independent schools has evolved considerably over the last five years. In particular, it has moved beyond the question of how can schools augment traditional classroom practices with hardware (laptops, interactive whiteboards, etc.) to the question of how software can improve outcomes and enable new learning models,…

  2. Blended learning in anatomy

    DEFF Research Database (Denmark)

    Østergaard, Gert Værge; Brogner, Heidi Marie

    behind DBR is that new knowledge is generated through processes that simultaneously develop, test and improve a design, in this case, an educational design (1) The main principles used in the project is blended learning and flipped learning (2). …"I definitely learn best in practice, but the theory...... in working with the assignments in the classroom."... External assesor, observer and interviewer Based on the different evaluations, the conclusion are that the blended learning approach combined with the ‘flipped classroom’ is a very good way to learn and apply the anatomy, both for the students......The aim of the project was to bridge the gap between theory and practice by working more collaboratively, both peer-to-peer and between student and lecturer. Furthermore the aim was to create active learning environments. The methodology of the project is Design-Based Research (DBR). The idea...

  3. Theory of polymer blends

    International Nuclear Information System (INIS)

    Curro, J.G.; Schweizer, K.S.

    1989-01-01

    We have recently developed a new theoretical approach to the study of polymer liquids. The theory is based on the ''reference interaction site model'' (RISM theory) of Chandler and Andersen, which has been successful in describing the structure of small molecule liquids. We have recently extended our polymer RISM theory to the case of polymer blends. In the present investigation we have applied this theory to two special binary blends: (1) the athermal mixture where we isolate structural effects, and (2) the isotopic mixture in which structurally identical polymer chains interact with dissimilar attractive interactions. By studying these two special cases we are able to obtain insights into the molecular factors which control the miscibility in polymer mixtures. 18 refs., 2 figs

  4. Causes of ransom private railways in the Russian Empire during the reign of Alexander III

    Directory of Open Access Journals (Sweden)

    Pavel A. Gurianov

    2016-03-01

    Full Text Available This article focuses on a number of reasons, redemption of private railways in the Russian Empire during the reign of Alexander III. Preconditions for this step. After the defeat in the Crimean War, the state began to consider two basic ways construction of railways: the expense of the treasury at the expense of private capital, including foreign ones. Attempts to organize joint capital of private foreign and domestic on the example of the main Russian Railway Company ended sadly. Foreign capital is mainly interested in speculation on the Russian stock exchange, as a result the majority of the company's shares went to the Russian capital. To support the private Russian capital the government has gone the way of the guarantee capital, in certain cases, as a joint stock or bond or one of the types of capital. When distribution concessions were not crucial economic factors, and the proximity to the elite or the corruption component. Often concession won by those who offered the lowest price, which affects the quality of railway construction in the country. As a result of the concession is not got the most professionally trained people who are almost entirely the burden shifted to the state, and profits for the most part getting any private owners. As a result, such practice is ruinous for the Treasury forced the government to buy back a significant portion of private railways on acceptable terms. As a result, initially malpractice and corruption safeguards prevent a real manifestation of self-employment initiatives

  5. Synthesizing optimal waste blends

    International Nuclear Information System (INIS)

    Narayan, V.; Diwekar, W.M.; Hoza, M.

    1996-01-01

    Vitrification of tank wastes to form glass is a technique that will be used for the disposal of high-level waste at Hanford. Process and storage economics show that minimizing the total number of glass logs produced is the key to keeping cost as low as possible. The amount of glass produced can be reduced by blending of the wastes. The optimal way to combine the tanks to minimize the vole of glass can be determined from a discrete blend calculation. However, this problem results in a combinatorial explosion as the number of tanks increases. Moreover, the property constraints make this problem highly nonconvex where many algorithms get trapped in local minima. In this paper the authors examine the use of different combinatorial optimization approaches to solve this problem. A two-stage approach using a combination of simulated annealing and nonlinear programming (NLP) is developed. The results of different methods such as the heuristics approach based on human knowledge and judgment, the mixed integer nonlinear programming (MINLP) approach with GAMS, and branch and bound with lower bound derived from the structure of the given blending problem are compared with this coupled simulated annealing and NLP approach

  6. THE EFFECT OF HUMAN CAPITAL ON SOCIAL CAPITAL AMONG ENTREPRENEURS

    OpenAIRE

    HANNES OTTÓSSON; KIM KLYVER

    2010-01-01

    Using data collected from 714 entrepreneurs in a random sample of 10,000 Danes, this study provides an investigation of the effect of human capital on social capital among entrepreneurs. Previous entrepreneurship research has extensively investigated the separated effect of human capital and social capital on different entrepreneurial outputs. The study takes a step back and investigates how these two capital concepts are related — specifically how human capital influences social capital. In ...

  7. Blended acquisition with dispersed source arrays

    NARCIS (Netherlands)

    Berkhout, A.J.

    2012-01-01

    Blended source arrays are historically configured with equal source units, such as broadband vibrators (land) and broadband air-gun arrays (marine). I refer to this concept as homogeneous blending. I have proposed to extend the blending concept to inhomogeneous blending, meaning that a blended

  8. A study to measure the impact of privatized industries

    Directory of Open Access Journals (Sweden)

    Seyed Hossein Miri

    2012-08-01

    Full Text Available One of the most important issues in privatization is to measure the impact of such decisions on improving efficiency of governmental organizations. Privatization, in the past, has had both positive and negative consequences in different countries. Therefore, it is necessary to measure the impact of privatization in Iran to see the outcome of such decision. In this paper, we present an empirical study to measure the financial performance of the privatized firms three years before and three years after privatization happed using pairwise t-student. We use five financial figures of asset turnover, working capital turnover, return on assets, return on equity and earnings per share. The results indicate that there was no meaningful relationship between these financial figures before and after privatization occurred.

  9. Cultural Capital in Context:

    DEFF Research Database (Denmark)

    Andersen, Ida Gran; Jæger, Mads Meier

    This paper analyzes the extent to which the effect of cultural capital on academic achievement varies across high- and low-achieving schooling environments. We distinguish three competing theoretical models: Cultural reproduction (cultural capital yields higher returns in high-achieving schooling...... to be higher in low-achieving schooling environments than in high-achieving ones. These results support the cultural mobility explanation and are in line with previous research suggesting that children from low-SES families benefit more from cultural capital than children from high-SES families....... environments than in low-achieving ones), cultural mobility (cultural capital yields higher returns in low-achieving environments), and cultural resources (cultural capital yields the same returns in different environments). We analyze PISA data from six countries and find that returns to cultural capital tend...

  10. Nigeria Prays, Yet Private Primitive Capital Accumulation Persists

    African Journals Online (AJOL)

    Religion Dept

    2008-07-03

    Jul 3, 2008 ... The task before this paper is to prove that even though prayer is essential for .... Nigeria's overall health system performance was ranked 187th by the WHO in ..... mundane activities are subjected to the external vigilance and ...

  11. Foreign private capital inflows in Nigeria's democratic dispensation ...

    African Journals Online (AJOL)

    FPCI) in Nigeria in the current democratic dispensation with a view to finding out whether the inflows have recorded significant increase since the institution of Democracy in the country. Relevant theories and empirical data were reviewed.

  12. Handbook of Social Capital

    DEFF Research Database (Denmark)

    The Handbook of Social Capital balances the ‘troika' of sociology, political science and economics by offering important contributions to the study of bonding and bridging social capital networks. This inter-disciplinary Handbook intends to serve as a bridge for students and scholars within all...... the social sciences. The contributors explore the different scientific approaches that are all needed if international research is to embrace both the bright and the more shadowy aspects of social capital....

  13. Modern Human Capital Management

    OpenAIRE

    Feldberger, Madita

    2008-01-01

    Title: Modern Human Capital Management Seminar date: 30th of May 2008 Course: Master thesis in Business Administration, 15 ECTS Authors: Madita Feldberger Supervisor: Lars Svensson Keywords: Human capital, SWOT Analysis, Strategic Map, Balanced Scorecard Research Problem: Despite of the success of Human Capital Management (HCM) in research it did not arrive yet in the HR departments of many companies. Numerous firms even have problems to set their strategic goals with focus on HR. The HR Bala...

  14. ACCOUNT INSTRUMENT CAPITAL BORROWED

    Directory of Open Access Journals (Sweden)

    Holt Gheorghe

    2012-03-01

    Full Text Available Setting up business capital is made from different sources and their use coordinates its policy aims, issues that affect the overall efficiency and thus differentiate companies with the same profile of activity and a similar level of capital advanced in the economic cycle. Thus financial structure, the average cost of capital used in the mechanism how the financial management of the company, of particular importance for this.

  15. A CBO PAPER: The Budgetary Treatment of Leases and Public/Private Ventures

    National Research Council Canada - National Science Library

    Clay-Mendex, Deborah

    2003-01-01

    Federal agencies sometimes use long-term leases and special-purpose public/private ventures to acquire capital assets without having to obtain Congressional appropriations for the full costs up front...

  16. Electronic Capitalization Asset Form -

    Data.gov (United States)

    Department of Transportation — National Automated Capitalization Authorization Form used by ATO Engineering Services, Logistics, Accounting for the purpose of identifying and capturing FAA project...

  17. Piketty’s Capital

    DEFF Research Database (Denmark)

    Larsen, Øjvind

    2016-01-01

    Piketty’s Capital in Twenty-First Century has posed a totally new platform for the discussion of the economy and capitalism. Piketty has reinvented the classical political economy founded by Adam Smith in his 1776 Wealth of Nations. Piketty has shown via massive historical research how growth...... and inequality have developed since 1793. Piketty’s conclusion is that the French Revolution did not change the existing inequality either in the medium or in the long term. Piketty’s prediction is that a new form of global capitalism will arise, patrimonial capitalism, in which inequality will develop further...

  18. Social Capital Database

    DEFF Research Database (Denmark)

    Paldam, Martin; Svendsen, Gert Tinggaard

    2005-01-01

      This report has two purposes: The first purpose is to present our 4-page question­naire, which measures social capital. It is close to the main definitions of social capital and contains the most successful measures from the literature. Also it is easy to apply as discussed. The second purpose...... is to present the social capital database we have collected for 21 countries using the question­naire. We do this by comparing the level of social capital in the countries covered. That is, the report compares the marginals from the 21 surveys....

  19. Human Capital Overview

    National Research Council Canada - National Science Library

    McCarthy, Ellen E

    2007-01-01

    ...: To provide an agile, adaptive, integrated, and innovative defense intelligence workforce through a deliberate process identifying, implementing, and directing human capital organizational, doctrinal...

  20. Private Water Districts

    Data.gov (United States)

    California Natural Resource Agency — Private Water District boundaries are areas where private contracts provide water to the district in California. This database is designed as a regions polygon...

  1. Design, Development and Implementation of Decision Support Systems for Private Equity Investment

    OpenAIRE

    Vroomen, Paul

    2017-01-01

    The objective of this research is to design, develop and implement an intelligent decision support system (IDSS) for making rational private equity investment decisions. (Private equity investments are capital investments in enterprises that are not traded on public equity markets; they include Equity Buy-Out, Venture Capital, and the new Equity Crowd Funding (ECF) asset classes). The design and development of the IDSS requires the integration of investment science (valuation theory, portfoli...

  2. Blended Learning on Campus

    DEFF Research Database (Denmark)

    Heilesen, Simon; Nielsen, Jørgen Lerche

    2004-01-01

    On the basis of a large-scale project implementing information and communication technology at Roskilde University, Denmark, this paper discusses ways of introducing technology-based blended learning in academic life. We examine some examples of use of systems for computer-mediated collabora......-tive learning and work in Danish Open University education as well as in courses on campus. We further suggest some possi-bilities for using technology in innovative ways, arguing that innovation is to be found, not in isolated instantiations of sys-tems, but in the form of a deliberate integration of all...... relevant ICT-features as a whole into the learning environment....

  3. Blended Learning Design

    DEFF Research Database (Denmark)

    Pedersen, Lise

    2015-01-01

    learning. 4. Blended learning can contribute to supporting and improving efficiency of educational efforts. This can for instance be done through programmes for several classes by using video conferencing, allocating traditional face to face teaching to synchronous and asynchronous study activities produce...... digital materials which can be employed didactically and reused by the teachers. This can also mean that the particular competencies which teaches have in Svendborg can be used at other locations in UCL and disseminated to a larger group of students without further costs. Educational Innovation...

  4. Private Equity Waves

    NARCIS (Netherlands)

    J.T.J. Smit (Han); W.A. van den Berg (Ward)

    2006-01-01

    textabstractThis study presents a dynamic model for the private equity market in which information revelation and uncertainty rationally explain the cyclical pattern of investment flows into private equity. The net benefit of private equity over public equity is i) uncertain and ii) agents have

  5. 26 CFR 1.147(b)-1 - Bond maturity limitation-treatment of working capital.

    Science.gov (United States)

    2010-04-01

    ... and Local Bonds § 1.147(b)-1 Bond maturity limitation-treatment of working capital. Section 147(b) does not apply to proceeds of a private activity bond issue used to finance working capital... 26 Internal Revenue 2 2010-04-01 2010-04-01 false Bond maturity limitation-treatment of working...

  6. Does Human Capital Theory Explain the Value of Higher Education? A South African Case Study

    Science.gov (United States)

    van der Merwe, Alex

    2010-01-01

    A perennial debate in the economics of education is whether human capital or screening/signalling theories best explain the value of schooling and hence the private demand for, in particular, higher education. Human capital theory proposes that formal training such as that offered by higher education institutions improves the productive capacity…

  7. Human Capital Externalities : Effects for Low-Educated Workers and Low-Skilled Jobs

    NARCIS (Netherlands)

    Broersma, Lourens; Edzes, Arjen J. E.; Van Dijk, Jouke

    2016-01-01

    Investments in human capital are essential themes in many policy programmes. Besides the direct private returns of education, there is evidence of positive human capital externalities at the level of regions and firms. The results in this paper show that both production and consumption externalities

  8. Classifying K-12 Blended Learning

    Science.gov (United States)

    Staker, Heather; Horn, Michael B.

    2012-01-01

    The growth of online learning in the K-12 sector is occurring both remotely through virtual schools and on campuses through blended learning. In emerging fields, definitions are important because they create a shared language that enables people to talk about the new phenomena. The blended-learning taxonomy and definitions presented in this paper…

  9. Blended Learning: An Innovative Approach

    Science.gov (United States)

    Lalima; Dangwal, Kiran Lata

    2017-01-01

    Blended learning is an innovative concept that embraces the advantages of both traditional teaching in the classroom and ICT supported learning including both offline learning and online learning. It has scope for collaborative learning; constructive learning and computer assisted learning (CAI). Blended learning needs rigorous efforts, right…

  10. Blended Learning: A Dangerous Idea?

    Science.gov (United States)

    Moskal, Patsy; Dziuban, Charles; Hartman, Joel

    2013-01-01

    The authors make the case that implementation of a successful blended learning program requires alignment of institutional, faculty, and student goals. Reliable and robust infrastructure must be in place to support students and faculty. Continuous evaluation can effectively track the impact of blended learning on students, faculty, and the…

  11. Empowering Learners through Blended Learning

    Science.gov (United States)

    Owston, Ron

    2018-01-01

    Blended learning appears to facilitate learner empowerment more readily than either face-to-face or fully online courses. This contention is supported by a review of literature on the affordances of blended learning that support Thomas and Velthouse's (1990) four conditions of empowerment: choice, meaningfulness, competence, and impact. Blended…

  12. The Basics of Blended Instruction

    Science.gov (United States)

    Tucker, Catlin R.

    2013-01-01

    Even though many of teachers do not have technology-rich classrooms, the rapidly evolving education landscape increasingly requires them to incorporate technology to customize student learning. Blended learning, with its mix of technology and traditional face-to-face instruction, is a great approach. Blended learning combines classroom learning…

  13. Implementing a Capital Plan.

    Science.gov (United States)

    Daigneau, William A.

    2003-01-01

    Addresses four questions regarding implementation of a long-term capital plan to manage a college's facilities portfolio: When should the projects be implemented? How should the capital improvements be implemented? What will it actually cost in terms of project costs as well as operating costs? Who will implement the plan? (EV)

  14. World wide spatial capital.

    Science.gov (United States)

    Sen, Rijurekha; Quercia, Daniele

    2018-01-01

    In its most basic form, the spatial capital of a neighborhood entails that most aspects of daily life are located close at hand. Urban planning researchers have widely recognized its importance, not least because it can be transformed in other forms of capital such as economical capital (e.g., house prices, retail sales) and social capital (e.g., neighborhood cohesion). Researchers have already studied spatial capital from official city data. Their work led to important planning decisions, yet it also relied on data that is costly to create and update, and produced metrics that are difficult to compare across cities. By contrast, we propose to measure spatial capital in cheap and standardized ways around the world. Hence the name of our project "World Wide Spatial Capital". Our measures are cheap as they rely on the most basic information about a city that is currently available on the Web (i.e., which amenities are available and where). They are also standardized because they can be applied in any city in the five continents (as opposed to previous metrics that were mainly applied in USA and UK). We show that, upon these metrics, one could produce insights at the core of the urban planning discipline: which areas would benefit the most from urban interventions; how to inform planning depending on whether a city's activity is mono- or poly-centric; how different cities fare against each other; and how spatial capital correlates with other urban characteristics such as mobility patterns and road network structure.

  15. Venture capital and internationalization

    NARCIS (Netherlands)

    Schertler, A.G.; Tykvova, T.

    Cross-border investments represent a substantial share of venture capital activities. We use a comprehensive dataset on investments worldwide to analyze the internationalization of venture capital financing. We postulate that cross-border activity is shaped by macroeconomic factors in the venture

  16. La escritura capital cursiva

    OpenAIRE

    Carbonell Boria, María José

    1989-01-01

    Estado de la cuestión de los trabajos sobre la Capital Cursiva. Análisis de la misma y muestras de su existencia y uso en la cultura occidental, incluida España. The matter of the study of Italic Capital letters. Its analysis, samples, and use in Western cultur, including Spain.

  17. The Brazilian Public Health in Contemporary Capitalism.

    Science.gov (United States)

    Junqueira, Virgínia; Mendes, Áquilas N

    2018-01-01

    This article examines some political and economic facts that led to an intensification of austerity measures by the Brazilian government, including ones against the Unified Health System (SUS) and its progressive dismantling. In a country where fundamental human rights were never fully respected, nowadays social and labor rights are under severe attacks. The deepening of the capital crisis and the rise of interest-bearing capital dominance have been causing unemployment, social insecurity growth, and resulting public fund appropriation by the private capital. The Brazilian governments in the 1990s and 2000s have implemented deeper cuts in social policy expenditure, freezing security benefits, privatizing services, and prioritizing the payment of public debt interests. The right wing's project involves the demoralization of not only the Workers' Party but also the left as a whole, so that the adoption of austerity measures could be achieved without popular resistance. It is the duty of the Brazilian left wing to denounce such a project and to provoke firm initiatives to rebuild its bonds with the working class.

  18. The Hollow University: Disaster Capitalism Befalls American Higher Education

    Science.gov (United States)

    Letizia, Angelo J.

    2016-01-01

    Over the last 40 years, American institutions of higher education have been encouraged to align with the private sector by policymakers, think tank experts and businessmen in order to become more efficient and more accountable. In a wider sense, this new partnership may be evidence of what has been termed "disaster capitalism." In…

  19. Capitalism, Identity Politics, and Queerness Converge: LGBT Employee Resource Groups

    Science.gov (United States)

    Githens, Rod P.

    2009-01-01

    Lesbian, gay, bisexual, and transgender (LGBT) employee resource groups have brought about substantial organizational change within corporations. Capitalist structures have enabled these changes to occur more quickly in the private sector than within the public sector. In this article, I explore how capitalism has converged with two approaches of…

  20. Negotiating Professionalism: The Gendered Social Capital of Flexible Time.

    Science.gov (United States)

    Seron, Carroll; Ferris,Kerry

    1995-01-01

    From a sample of 1,000 New York attorneys, data from 553 men and 129 women suggest that professional autonomy depends on social capital arrangements that assume overtime, open-ended work demands, and release from private obligations. Access to time is qualitatively different for men and women, especially married women with children. (SK)

  1. Cultural Capital Today

    DEFF Research Database (Denmark)

    Prieur, Annick; Skjøtt-Larsen, Jakob; Rosenlund, Lennart

    2008-01-01

    Based on Danish survey data subjected to correspondence analysis, this article aims at carrying out a critical assessment of Pierre Bourdieu's theory of social differentiation in advanced societies as a multi-dimensional phenomenon. As his theory goes, capital volume (economic + cultural capital......) and capital composition (the relative weight of the two) are the main dimensions of social differentiation, which structure the space of social positions as well as the space of lifestyles. The central discussion of the article concerns the character of cultural capital, and the role it plays in the formation......, as those adhering to the preferences that are most typical for the cultural elite tend to simultaneously avoid or mark distance to popular expressions of taste. Fourth, are there traces of new forms of cultural capital? The study uncovers a cleavage between a global orientation or a form of cosmopolitanism...

  2. Measuring Social Capital

    DEFF Research Database (Denmark)

    Svendsen, Gert Tinggaard; Bjørnskov, Christian

    2007-01-01

    How to construct a robust measure of social capital? This paper contains two contributions. The first is an attempt to establish a broad social capital measure based on four indicators, the Freedom House Index, an index of perceived corruption from Transparency International, and scores on civic...... participation and generalized trust. This measure is then applied by comparing the level of social capital in 25 countries from Western and Eastern Europe. Our nine cluster analysis shows that Switzerland has the highest score, followed by the Netherlands and Scandinavia. At the other end of the continuum we...... find post-communist countries and Southern Italy. The findings for this specific sample suggest that institutions matter for social capital and the relationship between decentralization and social capital emerges as a promising line of inquiry. Thus, the highest scoring countries in the sample may...

  3. Social Capital in Asia

    DEFF Research Database (Denmark)

    Li, Peter Ping; Redding, Gordon

    2014-01-01

    This article provides an overview of social capital in Asia. Social capital is trust and appears in two main forms: relational, based on societal norms, and systemic, based on societal institutions. The relational encourages personalistic transactions; and systemic trust, supports more formal......, and usually larger, transactions backed by law. For economic development, the systemic form becomes crucial but needs to be compatible with relational norms. The dimensions of social capital are often dual in nature. This article employs a theory that accepts this and analyses the phenomena as yin......–yang balancing, seeing trust as a culturally determined enabler of social cooperation. The evolutions of trustworthiness in Japan, China, and the Philippines are analysed. This article contributes to the literature on varieties of capitalism and business systems as well as that on social capital. It raises...

  4. How private are Europe's private forests?

    DEFF Research Database (Denmark)

    Nichiforel, Liviu; Keary, Kevin; Deuffic, Philippe

    2018-01-01

    Private forests are widespread in Europe providing a range of ecosystem services of significant value to society, and there are calls for novel policies to enhance their provision and to face the challenges of environmental changes. Such policies need to acknowledge the importance of private...... across jurisdictions, we constructed an original Property Rights Index for Forestry encompassing five rights domains (access, withdrawal, management, exclusion and alienation). We documented substantial variation of the private forest owners' rights, and notably to i) make decisions in operational...... management and the formulation of management goals, ii) withdraw timber resources from their forest, and iii) exclude others from the use of forest resources. We identified broad relations between the scope for decision making of private forest owners and jurisdictions' former socio-political background...

  5. Mobilizing the private sector. Indonesia.

    Science.gov (United States)

    Ferraz-tabor, L

    1993-12-01

    The national diarrheal disease control program has made progress against diarrheal illness in Indonesia, but diarrhea still accounts for 130,000 deaths of under-5 year olds annually. The potential of the private sector had been virtually untapped until the PRITECH Project designed and implemented a private sector based program to complement government efforts to reduce childhood morbidity and mortality related to diarrhea. PRITECH wanted to motivate commercial firms to invest the capital necessary to commercialize oral rehydration salts (ORS) so that program self-sufficiency would be maximized over the long term without depending upon donor support. Sections describe the lack of commercial sector ORS promotion, supply and demand factors, raising interest in ORS, conditions for change, the potential market for ORS, demand, production capacity, previous collaborative efforts, areas for improvement, PRITECH's role as catalyst, coordination with commercial companies, marketing workshops, collaboration with the Indonesian Medical Association, the handwashing campaign, and program impact. Although the program has been in place for just 1 year, sales of ORS have increased along with the degree of sustainable collaboration among local institutions. The author stresses that for the model to be successfully replicated elsewhere, the government, medical and pediatric associations, the World Health Organization, UNICEF, groups which can promote oral rehydration therapy, and opinion leaders in the medical community must be involved. Finally, note is made that the image of ORS must be improved and that the work of the public and commercial sectors can be complementary.

  6. Profiling Student Behaviour in a Blended Course: Closing the Gap Between Blended Teaching and Blended Learning

    NARCIS (Netherlands)

    Bos, Nynke; Brand-Gruwel, Saskia

    2018-01-01

    Blended learning is often associated with student-oriented learning in which students have varying degrees of control over their learning process. However, the current notion of blended learning is often a teacher- oriented approach in which the teacher identifies the used learning technologies and

  7. Blend or not to blend: a study investigating faculty members perceptions of blended teaching

    Directory of Open Access Journals (Sweden)

    Mehmet A Ocak

    2010-12-01

    Full Text Available This study examined faculty members’ perceptions of blended teaching from several perspectives. A total of 73 faculty members in Turkish Higher Education context participated in the study by completing an online survey that combined quantitative and qualitative approaches. Based on a data analysis, the faculty members’ perceptions were sorted into six categories: (a satisfaction with blended teaching, (b perceived impact on the role of the faculty, (c perceived impact on student learning, (d perceived impact on student motivation, (e advantages of blended teaching, and (f disadvantages of blended teaching. Findings indicated that faculty members were likely to agree that blended teaching provides a high degree of satisfaction and that it requires more time and commitment from the faculty. The faculty members perceived that blended teaching improves student learning and, to some extent, improves motivation. The faculty members also emphasized the importance of institutional support and the use of technology to mitigate student problems. This study presents these faculty members’ perceptions, which are helpful for those planning to implement a blended teaching approach, and makes suggestions for trouble-shooting and taking advantage of the opportunities in a blended environment successfully.

  8. Recent estimates of capital flight

    OpenAIRE

    Claessens, Stijn; Naude, David

    1993-01-01

    Researchers and policymakers have in recent years paid considerable attention to the phenomenon of capital flight. Researchers have focused on four questions: What concept should be used to measure capital flight? What figure for capital flight will emerge, using this measure? Can the occurrence and magnitude of capital flight be explained by certain (economic) variables? What policy changes can be useful to reverse capital flight? The authors focus strictly on presenting estimates of capital...

  9. Judicial Protection of Private Property Rights in Ethiopia: Selected ...

    African Journals Online (AJOL)

    Hailu_Elias_&_Muradu

    “Property Rights Protection and Private Sector Development in Ethiopia” which was .... Even if land has come under public ownership in Ethiopia since 1975, these ... may be capital contributions and in effect, the ownership of the use right over ..... Ethiopian Intellectual Property Office (EIPO) did not hesitate to register this.

  10. Corporal Punishment in Private Schools: The Case of Kathmandu, Nepal

    Science.gov (United States)

    Khanal, Jeevan; Park, Sae-Hoon

    2016-01-01

    The purpose of this study was to elaborate the situation of corporal punishment which is being practiced in Nepalese schools going against new policies that promote the non-violence teaching. It was based on original qualitative study of one private school of Kathmandu (the capital city of Nepal) having more than 2000 students and 100 teachers.…

  11. Cyclicality and Firm Size in Private Firm Defaults

    DEFF Research Database (Denmark)

    Jensen, Thais Lærkholm; Lando, David; Medhat, Mamdouh

    2017-01-01

    The Basel II/III and CRD IV Accords reduce capital charges on bank loans to smaller firms by assuming that the default probabilities of smaller firms are less sensitive to macroeconomic cycles. We test this assumption in a default intensity framework using a large sample of bank loans to private...

  12. Private Returns on Education in Ghana: Estimating the Effects of ...

    African Journals Online (AJOL)

    national progress as investment in education accrues both private and social returns. ... Universal Basic Education (FCUBE), the Capitation Grant and the School Feeding .... working conditions of media workers in Ghana found a close link between educational ..... jobs, particularly elementary jobs in the formal sector.

  13. Optimal Provision of Infrastructure Using Public-Private Partnership Contracts

    NARCIS (Netherlands)

    van der Laan, G.; Ruys, P.H.M.; Talman, A.J.J.

    2000-01-01

    This paper deals with the optimal provision of infrastructure by means of public-private partnership contracts.In the economic literature infrastructure is characterized as a large, indivisible and non-rival capital good that produces services for its users.Users can be both consumers and producers.

  14. Globalisation and private infrastructure investments in emerging markets

    CSIR Research Space (South Africa)

    Chege, L

    2004-11-01

    Full Text Available benefit, it is argued that globalisation has brought a mixed basket of hope and disillusionment to emerging markets. On the one hand, there is the euphoria that comes with increased private capital inflows and market access, and on the other...

  15. Privatizing and liberalizing electricity, the case of Hungary

    Energy Technology Data Exchange (ETDEWEB)

    Bakos, G. [Kyoto Womens' University (Japan). Institute of Economy

    2001-11-01

    Hungary, a forerunner in Eastern reforms, has boldly privatized its energy sector with foreign capital. While in the west liberalization resulted in electricity abundance and dramatic tariff cuts, in Hungary as a result of asymmetric market opening it brought excess capacities, transparent cost base prices, but lower tariffs are still ahead. Foreign investors made the branch profitable and are planning to expand capacities. (author)

  16. People, partnerships and human progress: building community capital.

    Science.gov (United States)

    Hancock, T

    2001-09-01

    The Victorian-era journal The Sanitarian used on its masthead the slogan 'A nation's health is a nation's wealth'. Today, we are re-discovering that wisdom, recognizing that health is indeed a form of wealth. Moreover, we are beginning to understand that wealth is not merely our economic capital, but includes three other forms of capital--social, natural and human capital. Health is one key element of human capital. A healthy community is one that has high levels of social, ecological, human and economic 'capital', the combination of which may be thought of as 'community capital'. The challenge for communities in the 21st century will be to increase all four forms of capital simultaneously. This means working with suitable partners in the private sector, making human development the central purpose of governance, and more closely integrating social, environmental and economic policy. Community gardens, sustainable transportation systems and energy conservation programmes in community housing projects are some of the ways in which we can build community capital.

  17. Influence of privatization model to society in transition

    Directory of Open Access Journals (Sweden)

    Cvijetićanin Danijel M.

    2004-01-01

    Full Text Available The goal of the paper is to explain the influence of privatization to the transition in Serbia. At the same time, it will be shown that the absence of the results of development of small and medium enterprises influenced the continuous pointing out the results of privatization. The influence of privatization to performance of enterprises will be especially discussed. The process of privatization of the public sector in the countries of developed market economy will be compared with the privatization in the former socialist countries. The specificity of the latter consists, above all, in huge offer of capital for sale in relatively short time. Inevitable consequence is the low price of this capital, which is very interesting for analysis. Specificities of privatization with not only state, but also social property in the economies of the former SFRY will be also discussed. The paradox of enlarging state property in Serbia and Montenegro will be also pointed out. The results of privatization will be discussed, as well as possible modifications of the model (and the law in the near future.

  18. The importance of size in private equity : Evidence from a survey of limited partners

    NARCIS (Netherlands)

    Da Rin, Marco; Phalippou, L.

    Using a comprehensive survey, we show that investors with a larger capital allocation to private equity are more specialized − measured by the degree to which the investor focuses on private equity rather than other classes of investments − and have a wider scope of due diligence and investment

  19. Enhancing Cross-Cultural Training Efficacy on Expatriate Adjustment through Emotional Intelligence and Social Capital

    Directory of Open Access Journals (Sweden)

    Ely Susanto

    2012-05-01

    Full Text Available Cross cultural training is widely believed to make a positive contribution to expatriate adjustment. In practice, however, it is very costly and sometimes ineffective for expatriates. Therefore, there is a growing importance placed on increasing the cost effectiveness or enhancing the efficacy of crosscultural training by functioning individual expatriate’s social capital and emotional intelligence as moderating variables towards expatriate’s adjustment and performance. To do so we blend ideas drawn from social capital theory and emotional intelligence to develop the structure that underlies the logic of this paper. Thus, this paper uses social capital and emotional intelligence theories to enrich extant literature on expatriate adjustment

  20. 13 CFR 107.240 - Limitations on including non-cash capital contributions in Private Capital.

    Science.gov (United States)

    2010-01-01

    ... more than their fair market value. (c) Tangible assets used in your operations, priced at no more than their fair market value. (d) Shares in a Disadvantaged Business received by a subsidiary Section 301(d) Licensee from its parent Licensee, valued at the lower of cost or fair value. (e) Other non-cash assets...

  1. ATAQUES À POLÍTICA DE SAÚDE EM TEMPOS DE CRISE DO CAPITAL

    Directory of Open Access Journals (Sweden)

    Amanda Santos de Paiva

    2016-01-01

    Full Text Available This article highlights the determinations inherent to the corrosive movement of capital in the current context of crisis for the Brazilian Health Sector Reform Project. It is a bibliographical research that verifies the subsumption of the Sistema Único de Saúde (SUS - National Health System to macro determinations of finance capital. Shows the management model and privatizing healthcare, individual curative and centered procedure that has hegemonized the implementation of health policy in the context of SUS. As an expression of capital's attacks it emphasizes the obstacles to ensuring universal right to health when privatize it. It problematizes up, so the various forms of health privatization: the proposed universal health coverage-UHC, the so-called "new" management models, DAC 451 and the law n o 13.097 / 2015. And, notes the incestuous relationship between state intervention and the need for expansion of capital via appropriation of public funds.

  2. The Genesis of Capitalism

    DEFF Research Database (Denmark)

    Li, Xing

    2004-01-01

     This paper aims to offer a framework of interpreting the “evolution” of capitalism that is reaching every corner of the world and has achieved greater legitimacy than at any time in human history. It covers an interdisciplinary discussion on the development of market capitalism that has been...... characterized by a dual process: unanticipated origin (cultural and historical) and anticipated progress (political economy). The point of departure of this paper is that although the advancement of market capitalism is a process of societal development involving historical, cultural and religious causes...... (historical, divine, spiritual, miraculous), the establishment of capitalism is less the result of a force for cultural and economic dynamism than the realization of a political project. In other words, from being an enterprise within defined geographical boundaries to becoming a global project is first...

  3. Unsustainable growth, unsustainable capitalism

    DEFF Research Database (Denmark)

    Næss, Petter

    2006-01-01

    problems, but serve to further highlight the difficulties of changing capitalism towards sustainability. In a profit-oriented economy, capital accumulation is a prime driving force, and non-growth for the economy at large tends to result in serious economic and social crises. On the other hand, a de...... according to which the powers and mechanisms of the natural world are considered totally controllable by humans as if they were mere epiphenomena of the human world. On the other hand, the assumptions of certain ecological economists about the possibility of steady-state capitalism disregard the relation...... between capital and surplus value, which constitutes a strong mechanism driving the capitalist economy toward limitless growth....

  4. Prioritization of Capital Projects

    National Research Council Canada - National Science Library

    LaVielle, Michael

    2002-01-01

    Public works capital projects in the U,S, naval forces are not prioritized and funded in a way that best uses limited operations resources and maintenance dollars, This thesis develops a linear model...

  5. capital. A discussion paper

    Directory of Open Access Journals (Sweden)

    Ewa Chojnacka

    2015-04-01

    Full Text Available The purpose of this study is to confront certain propositions presented in Lesław Niemczyk’s publication Rachunkowość finansowa aktywów kompetencyjnych i kapitału intelektualnego. Nowy dział rachunkowości(Accounting for Competence Assets and Intellectual Capital. A New Area in Accounting with ideas published in other studies. The authors discuss issues concerning firm value, selected definitions of intellectual capital, as well as certain methods of intellectual capital measurement and valuation. Other problems analysed include accounting for and reporting of intellectual capital and similarities and differences between the way those issues are presented in Polish and in international studies as well as in existing legal regulations and standards.

  6. Capital Projects Application (CPA)

    Data.gov (United States)

    General Services Administration — Capital Projects application (CPA) provides users with the ability to maintain project related financial data for Budget Activity (BA) 51, 55, 64, 01, 02, 03, 04....

  7. Capital Improvements Business Line

    Science.gov (United States)

    2012-08-08

    NAVFAC Southwest Dan Waid Program & Business Mgmt NAVFAC SW Capital Improvements Business Line NAVFAC SW 8 August 2012 1 Report...REPORT TYPE 3. DATES COVERED 00-00-2012 to 00-00-2012 4. TITLE AND SUBTITLE Capital Improvements Business Line 5a. CONTRACT NUMBER 5b. GRANT...AVAILABILITY STATEMENT Approved for public release; distribution unlimited 13. SUPPLEMENTARY NOTES Presented at the 2012 Navy Gold Coast Small Business

  8. World wide spatial capital.

    Directory of Open Access Journals (Sweden)

    Rijurekha Sen

    Full Text Available In its most basic form, the spatial capital of a neighborhood entails that most aspects of daily life are located close at hand. Urban planning researchers have widely recognized its importance, not least because it can be transformed in other forms of capital such as economical capital (e.g., house prices, retail sales and social capital (e.g., neighborhood cohesion. Researchers have already studied spatial capital from official city data. Their work led to important planning decisions, yet it also relied on data that is costly to create and update, and produced metrics that are difficult to compare across cities. By contrast, we propose to measure spatial capital in cheap and standardized ways around the world. Hence the name of our project "World Wide Spatial Capital". Our measures are cheap as they rely on the most basic information about a city that is currently available on the Web (i.e., which amenities are available and where. They are also standardized because they can be applied in any city in the five continents (as opposed to previous metrics that were mainly applied in USA and UK. We show that, upon these metrics, one could produce insights at the core of the urban planning discipline: which areas would benefit the most from urban interventions; how to inform planning depending on whether a city's activity is mono- or poly-centric; how different cities fare against each other; and how spatial capital correlates with other urban characteristics such as mobility patterns and road network structure.

  9. Public-Private partnership procurement: Game-theoretic studies of the tender process.

    OpenAIRE

    De Clerck, Dennis

    2015-01-01

    A Public-private partnership (PPP) is a settlement between a public party and a contractor or private sector consortium to engage in a long-term contractual agreement for designing, building, operating and/or maintaining capital intensive projects, while trying to attain value for money. PPPs are globally gaining importance in the construction industry. The risk transfer from the contracting government towards the private entity has important repercussions on the tender. Contractors need to c...

  10. Capital mobility, tax competition, and lobbying for redistributive capital taxation

    OpenAIRE

    Lorz, Jens Oliver

    1996-01-01

    This paper analyzes the impact of international capital mobility on redistributive capital taxation and on lobbying activities by interest groups. It employs a model where different capital endowments lead to a conflict between households concerning their most preferred capital tax rate. Three main results are derived: First, redistributive source based capital taxes or subsidies decline as international tax competition intensifies. Second, lobbying activities of certain interest groups may e...

  11. 75 FR 6151 - Minimum Capital

    Science.gov (United States)

    2010-02-08

    ... capital and reserve requirements to be issued by order or regulation with respect to a product or activity... minimum capital requirements. Section 1362(a) establishes a minimum capital level for the Enterprises... entities required under this section.\\6\\ \\3\\ The Bank Act's current minimum capital requirements apply to...

  12. Method to blend separator powders

    Science.gov (United States)

    Guidotti, Ronald A.; Andazola, Arthur H.; Reinhardt, Frederick W.

    2007-12-04

    A method for making a blended powder mixture, whereby two or more powders are mixed in a container with a liquid selected from nitrogen or short-chain alcohols, where at least one of the powders has an angle of repose greater than approximately 50 degrees. The method is useful in preparing blended powders of Li halides and MgO for use in the preparation of thermal battery separators.

  13. Prospects of Foreign Capital Raising for Russian Power Grid Companies

    Directory of Open Access Journals (Sweden)

    N. N. Shvets

    2015-01-01

    Full Text Available The power sector reform in Russia saw capital raising as one of the key objectives. Additional investments are necessary, in particular, for renovation of fixed assets which are ca. 70% worn out. The official Strategy for the development of the Russian power grid also provides for privatization of certain companies and foreign investors are considered among others as the target audience. Upon prospective privatization the sector is expected not only to experience a certain increase in capital expenditures, but also to benefit from foreign expertise and efficiency enhancement. At the moment, however, the privatization plans are hard to implement due to a number of obstacles. Prospective investors are mostly concerned about the lack of transparent regulation and clear development strategy of the industry. This is particularly relevant to the tariff system, which has been continuously altered in recent years. This might be explained by the need of the state support by other sectors, which is often provided at the expense of the power industry. Furthermore, the prospects of foreign capital raising are negatively influenced by the conflict in Ukraine and the corresponding negative perception of potential investors. The above factors result in the decrease in value of power grid companies as well as in the lack of visibility regarding the prospects of the sector development. Privatization thus becomes unreasonable both for the state and prospective investors. At the same time, despite the sector specifics, there are precedents of successful sale of power grid assets to private investors by international peers. Particularly, Vatenfall and Forum have recently closed relevant transactions, nothing to say about the power grid sector of Brazil, majorly controlled by private owners. Transparent regulation, clear pricing rules and well-balanced economic policy are, indeed, indispensable prerequisites for successful privatization. Those might back up a

  14. The Performance of Intellectual Capital

    DEFF Research Database (Denmark)

    Murthy, Vijaya; Mouritsen, Jan

    2011-01-01

    Purpose – This paper aims to analyse the relationship between intellectual capital and financial capital using a case study. This makes it possible to discuss how intellectual capital is related to value creation with a degree of nuance that is absent from most statistical studies of relationships...... between human, organisational, relational and financial capital. Design/methodology/approach – The paper uses a case study of a firm that invests in intellectual capital in order to develop financial capital. It traces the relationship between intellectual capital elements and financial capital via...... interviews. This allows the development of a nuanced account of the performance of intellectual capital. This account questions the universality of the linear model typically found in statistical studies. The model makes it possible to show how items of intellectual capital not only interact but also compete...

  15. Privatization Framework: Political Economy Perspective

    OpenAIRE

    Bastian, Indra

    2009-01-01

    Privatization has been recognized as a worldwide phenomenon. In this pa-per, a political economy approach is developed to analyze privatization. The ap-proach assumes that political economy and privatization overlap in people’s need. So, the framework of political economy in privatization is based on the ‘need’ phi-losophy. Government and private sectors are contrasted in this respect, leading to a conclusion on privatization as a method to manage the economy. Keywords: privatization, politic...

  16. CONSUMERS’ PERCEPTIONS TOWARDS INTERNATIONALSUPERMARKET PRIVATE BRAND PRODUCTS

    Directory of Open Access Journals (Sweden)

    May Chen Yap

    2011-01-01

    Full Text Available In recent year, we observed the rapid growth of international supermarkets chainslike Tesco, Carrefour, Jusco, and Giant in Malaysia. These internationalsupermarkets are capitalizing on local manufacturers to produce products of theirown brand. No doubt this private brand product price could be as low as otherlocal produce but pricing is not the only factor influencing local consumerspurchase intention. In this paper, we set to investigate consumers’ perceptions onperceived price, perceived quality, confidence, social influence, and brand imagetowards international supermarket private brand products. Using MultipleRegressions, we found all factors significantly influence consumers purchaseintention and price is the key factor that triggerpurchase. These factors wouldprovide international supermarkets to cater for local consumers’ demand.

  17. Capital Flight and Economic Performance

    OpenAIRE

    Beja, Edsel Jr.

    2007-01-01

    Capital flight aggravates resource constraints and contributes to undermine long-term economic growth. Counterfactual calculations on the Philippines suggest that capital flight contributed to lower the quality of long-term economic growth. Sustained capital flight over three decades means that capital flight had a role for the Philippines to lose the opportunities to achieve economic takeoff. Unless decisive policy actions are taken up to address enduring capital flight and manage the macroe...

  18. How government venture capital guiding funds work in financing high-tech start ups in China? A 'strategic exchange' perspective

    OpenAIRE

    Wang, Jinmin; Wang, Jing; Ni, Hua; He, Shaowei

    2013-01-01

    Under its specific institutional context, the public/private partnership approach needs to be interpreted differently from strategic level to operational level in China to improve the performance of venture capital guiding funds.

  19. A contemporary perspective on capitated reimbursement for imaging services.

    Science.gov (United States)

    Schwartz, H W

    1995-01-01

    Capitation ensures predictability of healthcare costs, requires acceptance of a premium in return for providing all required medical services and defines the actual dollar amount paid to a physician or hospital on a per member per month basis for a service or group of services. Capitation is expected to dramatically affect the marketplace in the near future, as private enterprise demands lower, more stable healthcare costs. Capitation requires detailed quantitative and financial data, including: eligibility and benefits determination, encounter processing, referral management, claims processing, case management, physician compensation, insurance management functions, outcomes reporting, performance management and cost accounting. It is important to understand actuarial risk and capitation marketing when considering a capitation contract. Also, capitated payment methodologies may vary to include modified fee-for-service, incentive pay, risk pool redistributions, merit, or a combination. Risk is directly related to the ability to predict utilization and unit cost of imaging services provided to a specific insured population. In capitated environments, radiologists will have even less control over referrals than they have today and will serve many more "covered lives"; long-term relationships with referring physicians will continue to evaporate; and services will be provided under exclusive, multi-year contracts. In addition to intensified use of technology for image transfer, telecommunications and sophisticated data processing and tracking systems, imaging departments must continue to provide the greatest amount of appropriate diagnostic information in a timely fashion at the lowest feasible cost and risk to the patient.

  20. Public private partnerships

    NARCIS (Netherlands)

    Miranda Sarmento, J.J.

    2014-01-01

    Public-private partnerships (PPPs) are increasing in number worldwide and are used to build and manage large public infrastructure projects. In PPPs, the private sector plays a role in developing and maintaining public infrastructure and services, which is usually a public sector responsibility.

  1. Women and Private Pensions.

    Science.gov (United States)

    Benson, Helene A.

    This speech focuses on women and private pension plans, such as private pension coverage and smaller benefit amounts. Pension issues affecting women as employees include participation in plans, vesting, break-in service, benefit accruals, integration with Social Security, sex-based actuarial tables, portability, inflation, and individual…

  2. Private Speech in Ballet

    Science.gov (United States)

    Johnston, Dale

    2006-01-01

    Authoritarian teaching practices in ballet inhibit the use of private speech. This paper highlights the critical importance of private speech in the cognitive development of young ballet students, within what is largely a non-verbal art form. It draws upon research by Russian psychologist Lev Vygotsky and contemporary socioculturalists, to…

  3. Serial private infrastructures

    NARCIS (Netherlands)

    van den Berg, V.A.C.

    2013-01-01

    This paper investigates private supply of two congestible infrastructures that are serial, where the consumer has to use both in order to consume. Four market structures are analysed: a monopoly and 3 duopolies that differ in how firms interact. It is well known that private supply leads too high

  4. The performance of newly privatized firms: The case of Portugal

    Directory of Open Access Journals (Sweden)

    José Vaz Ferreira

    2012-06-01

    Full Text Available The aim of this study is to investigate the pre and post privatization financial, social and operational performance of forty two Portuguese companies in most of sectors of economic activity that experience full or partial privatization through public share offering, direct sale or public contest, for the period from 1989 to 2009. That is, this work investigates, whether or not, the privatization of sate-owned enterprises (SOE’s had caused improvements on the economic and financial health of those privatized companies, as it is suggested by the literature of property rights, public choice and agency theory. First, we document significant improvements on profitability, operating efficiency, capital investment, real output, dividend payout, treasury applications, activity levels and capital structure. Secondly, we experience significant decreases in employment after privatization. Third, we observe that, following privatization, the financial equilibrium (short and long of firms was negatively affected. Lastly, our results are generally robust surviving the partition of the dataset into various sub-samples.

  5. 78 FR 76973 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-12-20

    ... Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital..., 2013, a document adopting a final rule that revises its risk-based and leverage capital requirements... risk-based and leverage capital requirements for banking organizations. An allowance for additional...

  6. Capital effectiveness in a capital intensive project

    Energy Technology Data Exchange (ETDEWEB)

    Yarossi, M.E. (IPA Institute, The Hague (Netherlands))

    2009-07-01

    The technical difficulty of incorporating new technology in capital intensive projects has been underestimated. Bio-refineries projects are no exemption. These projects in many occasions have assigned inadequate project resources, such as lean project teams and overly optimistic contingencies. Furthermore, project developers have set unrealistic expectations; for example: aggressive schedule duration, low cost targets and optimistic operability targets. These project drivers set before project's authorization compromise the project's outcome. In many cases, this translates into lower return on investment, higher costs, and lower operability. In order to counteract these outcomes, it is critical for capital intensive projects, like bio-refineries, to have a well define project which will enable to increase its chance of success. IPA's research has shown that bio-refineries projects have poor project performance due to poor project practices, lack of owner project controls and inadequate change management. An adequate risk analysis during definition is a critical component of a project's success, especially when there is new technology, like biomass conversion. It is of outmost importance to asses this technology and set realistic expectations. parallel to this, there is a need to have a well established execution strategy, which should be maintained throughout the execution of the project. In conclusion, IPA's research has indicated that bio-refineries, as any other capital intensive project, need to assign adequate resources at an early state of project development, by making sure there is and adequate team in place, reasonable schedule, technical difficulties evaluation, and keeping control during execution. Although these elements might be seen as common practices that should be taken into account when developing a project, many projects being their execution without having a proper foundation, and thus affecting the project

  7. Polystyrene/Hyperbranched Polyester Blends and Reactive Polystyrene/Hyperbranched Polyester Blends

    National Research Council Canada - National Science Library

    Mulkern, Thomas

    1999-01-01

    .... In this work, the incorporation of HBPs in thermoplastic blends was investigated. Several volume fractions of hydroxyl functionalized hyperbranched polyesters were melt blended with nonreactive polystyrene (PS...

  8. Pobreza, capital humano, capital social e familiar

    OpenAIRE

    Petrini, Giancarlo; Fonseca, Ricardo; Porreca, Wladimir

    2010-01-01

    O presente estudo investiga a pobreza partindo de uma análise dos recursos que os pobres dispõem em sua realidade, analisando os temas do capital humano, social e familiar, procurando estabelecer conexões e elucidar fatores da realidade pouco considerados em estudos e  projetos de combate à pobreza e à exclusão social. O presente artigo, em seu conjunto, procura compreender porque, em condições semelhantes de pobreza, algumas pessoas conseguem elaborar um projeto de vida enquanto outras se es...

  9. Performance of Blended Learning in University Teaching:

    Directory of Open Access Journals (Sweden)

    Michael Reiss

    2010-07-01

    Full Text Available Blended learning as a combination of classroom teaching and e-learning has become a widely represented standard in employee and management development of companies. The exploratory survey “Blended Learning@University” conducted in 2008 investigated the integration of blended learning in higher education. The results of the survey show that the majority of participating academic teachers use blended learning in single courses, but not as a program of study and thus do not exploit the core performance potential of blended learning. According to the study, the main driver of blended learning performance is its embeddedness in higher education. Integrated blended programs of study deliver the best results. In blended learning, learning infrastructure (in terms of software, culture, skills, funding, content providing, etc. does not play the role of a performance driver but serves as an enabler for blended learning.

  10. Return on capital of Brazilian electricity distributors: A comparative analysis

    International Nuclear Information System (INIS)

    Rocha, Katia; Camacho, Fernando; Braganca, Gabriel

    2007-01-01

    This paper analyzes the electricity distribution segment in Brazil from 1998 to 2005-after the conclusion of privatization process-trying to assess whether the return on capital invested was in line with the risk required in the segment. It concludes that the return on equity in Brazil was systematically negative until 2003. Only in 2005 did the distribution segment really begin to recover, showing profitability consistent with the estimated cost of equity. Comparisons with Argentine, Chilean and American companies reveal that firms in the latter two countries, generally managed to reward shareholders according to the opportunity cost of capital. Estimates are that to sustain annual growth of roughly 3.7% for the next decade, the entire electricity sector will demand US$ 7 billion in capital expenditures a year for the next decade, 67% for generation, 16% for transmission and 17% for distribution. In order to stimulate private capital investment, it is fundamental for the regulator, in the tariff revision processes, to consistently assure a rate of return on capital in line with the segment's real opportunity cost and therefore maintain the health of all the three segments without the burden of subsidies

  11. Venturing into the private sector: Conclusion

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    From the very beginning, HEU has been a government-to-government deal. And right fully so. These weapons were produced by the US and Russia over the course of the Cold War. The two superpowers should play the main role in their dismantlement. After all, these aren't cars or microcomputers we're talking about. They are weapons of mass destruction. One day, private business will profit from their dismantlement. But it is truly the responsibility of the US and Russian governments to accomplish the larger objective of the HEU deal: To destroy these weapons, once and for all. But if government can fulfill the role of moral overseer, there's no reason why the private sector should not be involved in implementing the plan. And there is no shortage of companies lining up for a piece of the business. The Russians are all ears. While a deal with the US is their main priority, they've spoken to a number of private companies about blending down and marketing the HEU. In recent months, several US companies have signed preliminary agreements with the Russians. But what actual business these agreements will lead to is very unclear

  12. Setting up virtual private network

    International Nuclear Information System (INIS)

    Huang Hongmei; Zhang Chengjun

    2003-01-01

    Setting up virtual private network for business enterprise provides a low cost network foundation, increases enterprise's network function and enlarges its private scope. The text introduces virtual private network's principal, privileges and protocols that use in virtual private network. At last, this paper introduces several setting up virtual private network's technologies which based on LAN

  13. Setting up virtual private network

    International Nuclear Information System (INIS)

    Huang Hongmei; Zhang Chengjun

    2003-01-01

    Setting up virtual private network for business enterprise provides a low cost network foundation, increases enterprise network function and enlarges its private scope. This text introduces virtual private network principal, privileges and protocols applied in virtual private network. At last, this paper introduces several setting up virtual private network technologies which is based on LAN

  14. Blending Words Found In Social Media

    Directory of Open Access Journals (Sweden)

    Giyatmi Giyatmi

    2017-12-01

    Full Text Available There are many new words from the social media such as Netizen, Trentop, and Delcon. Those words include in blending. Blending is one of word formations combining two clipped words to form a brand new word. The researchers are interested in analyzing blend words used in the social media such as Instagram, Twitter, Facebook, and Blackberry Messenger. This research aims at (1 finding blend words used in the social media (2 describing kinds of blend words used in social media (3 describing the process of blend word formation used in the social media. This research uses some theories dealing with definition of blending and kinds of blending. This research belongs to descriptive qualitative research. Data of the research are English blend words used in social media. Data sources of this research are websites consisting of some English words used in social media and some social media users as the informant. Techniques of data collecting in this research are observation and simak catat. Observation is by observing some websites consisting of some English words used in social media. Simak catat is done by taking some notes on the data and encoding in symbols such as No/Blend words/Kinds of Blending. The researchers use source triangulation to check the data from the researchers with the informant and theory triangulation to determine kinds of blending and blend word formation in social media. There are115 data of blend words. Those data consists of 65 data of Instagram, 47 data of Twitter, 1 datum of Facebook, and 2 data of Blackberry Messenger. There are 2 types of blending used in social media;108 data of blending with clipping and 7 data of blending with overlapping. There are 10 ways of blend word formation found in this research.

  15. Institutional Determinants of Private Equity Market in Czech Republic

    Directory of Open Access Journals (Sweden)

    Martina Skalická Dušátková

    2017-12-01

    Full Text Available A well-functioning private equity and venture capital market is affected by a range of institutional aspects. This study intends to answer the question on what is the current tax and legal environment for private equity and venture capital investments in Czech Republic as previous studies have emphasized that a rather poor scope of resources available. Qualitative data with content analysis proved to be the best way to assess the institutional framework. Data collection methods cover a comparative analysis of scientific literature documents and reports, as well as primary data from interviews with experts in the industry. The results of both secondary and primary data analysis were categorized and serious gaps in the institutional framework were identified and discussed. Our results indicate that the issue of legal and organisational structure suitable for private equity and venture capital funds may be resolved through a national equivalent to a Limited Partnership which has already been adopted into Czech law. However, a tax handicap was identified implying that it is necessary to amend the tax legislation so that the legal regulation extends the tax exemption. Another amendment should then be directed towards eliminating or mitigating the barriers imposed on pension. We believe that our findings provide valuable implications for the government, banks, stock exchanges and venture capital industry while formulating new strategies how to increase the level of investments in this specific environment of Czech Republic.

  16. Financial resources for development. Capital markets in developing countries: a study on borrowing by developing countries in the emerging capital markets of the Middle East

    Energy Technology Data Exchange (ETDEWEB)

    Nashashibi, H S

    1980-10-01

    Private transfers of capital from the Organization of Petroleum Exporting Countries (OPEC) to developing countries are intended to complement private transfers from the Organization of Economic Cooperation and Development (OECD) by tapping the emerging capital markets in the Middle East. Developing countries will be able to diversify their borrowing and gain additional financing. The long-term investment of oil-producing countries will benefit and the pressures on the banking institutions to recycle funds will lessen. Middle East capital markets include international loans and international bonds. The history of the Kuwaiti dinar (KD) bond market, with its advantages for both investors and borrowers, illustrates the successful development of a capital market. Financial intermediation needs to be improved, however, if the Middle East is to become efficient enough to compete with the Euromarkets. Efficiency will require different measures and should reflect strengthening relationships among Middle East nations. (DCK)

  17. Capitation, contracts, and control

    International Nuclear Information System (INIS)

    McIsaac, L.H.

    1987-01-01

    The radiology business manager in today's environment must become proficient in contract evaluations and negotiations. Health care is focusing on preventive medicine. Third-party payers are offering plans and programs to provide ''well-patient'' care. For prepaid (HMO-IPA-PTO) plans to succeed, demands for reduced fees and other entrepreneurial contractual arrangements are developed. This presentation will focus on specific items contained in most contracts. The issues of withhold, billing procedures, prompt-payment rewards, medical liability, capitation determinations, and modified capitation plans will be discussed. It is the intent of this presentation to share with the audience methods of evaluating contracts, the importance of negotiating specific terms, and an approach to determination of capitation amounts

  18. Thinking strategically about capitation.

    Science.gov (United States)

    Boland, P

    1997-05-01

    All managed care stakeholders--health plan members, employers, providers, community organizations, and government entitites--share a common interest in reducing healthcare costs while improving the quality of care health plan members receive. Although capitation is a usually thought of primarily as a payment mechanism, it can be a powerful tool providers and health plans can use to accomplish these strategic objectives and others, such as restoring and maintaining the health of plan members or improving a community's health status. For capitation to work effectively as a strategic tool, its use must be tied to a corporate agenda of partnering with stakeholders to achieve broader strategic goals. Health plans and providers must develop a partnership strategy in which each stakeholder has well-defined roles and responsibilities. The capitation structure must reinforce interdependence, shift focus from meeting organizational needs to meeting customer needs, and develop risk-driven care strategies.

  19. Risk capital allocation

    DEFF Research Database (Denmark)

    Hougaard, Jens Leth; Smilgins, Aleksandrs

    Risk capital allocation problems have been widely discussed in the academic literature. We consider a company with multiple subunits having individual portfolios. Hence, when portfolios of subunits are merged, a diversification benefit arises: the risk of the company as a whole is smaller than...... the sum of the risks of the individual sub-units. The question is how to allocate the risk capital of the company among the subunits in a fair way. In this paper we propose to use the Lorenz set as an allocation method. We show that the Lorenz set is operational and coherent. Moreover, we propose a set...... of new axioms related directly to the problem of risk capital allocation and show that the Lorenz set satisfies these new axioms in contrast to other well-known coherent methods. Finally, we discuss how to deal with non-uniqueness of the Lorenz set....

  20. Blended Learning: enabling Higher Education Reform

    Directory of Open Access Journals (Sweden)

    Kathleen Matheos

    2018-01-01

    Full Text Available Blended learning research and practice have been areas of growth for two decades in Canada, with over 95% of Canadian higher education institutions involved in some form of blended learning. Despite strong evidence based research and practice blended learning, for the most part, has remained at sidelined in Canadian universities. The article argues the need for blended learning to situate itself within the timely and crucial Higher Education Reform (HER agenda. By aligning the affordances of blended learning with the components of HER, blended learning can clearly serve as an enabler for HER.

  1. Further thoughts on agrarian capitalism: a reply to Albritton.

    Science.gov (United States)

    Zmolek, M

    2001-01-01

    In response to Albritton [2000], who asserts that the central dynamic of capitalism's genesis was putting-out manufacturing, I provide a sketch of the processes of agrarian capitalism. The elaboration of the common law in the Middle Ages enabled widespread conversion to leaseholds after the plague. An increasingly privatized system of land ownership resulted from the enclosure movement in the fifteenth and sixteenth centuries, and the upheavals of the seventeenth century represented the triumph of the enclosers. The rise of cottage industry in the eighteenth century was supported by a systematic effort at improving agricultural productivity. By the Industrial Revolution, the principle of individual control over production had long been established.

  2. A New capitalism in Brazil? Fusions & acquisitions on Lula government

    Directory of Open Access Journals (Sweden)

    José Carlos Martines Belieiro Junior

    2014-06-01

    Full Text Available This paper aims analyze the phenomenon of fusions and acquisitions of companies in Brazil during the government of ex-president Luis Ignacio Lula da Silva, from 2003 to 2010. The adopted point of view is the one of relations between the State an d the economy trying to investigate what the new role of the private capital in the contemporary Brazil. The basic hypothesis that guide this work is to explain the fusions and acquisitions in a broader context of State support to the process of fusions and acquisitions as a new way of global insertion of Brazilian capitalism in a moment of international competitiveness.

  3. Updating cultural capital theory

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

    2011-01-01

    This paper considers how the analysis of cultural engagement can be elaborated through a reworking of the concept of cultural capital, as originally derived from Bourdieu’s (1984) Distinction. Drawing on detailed studies of the UK and Aalborg, Denmark, we show that despite the weakening of ‘‘high......This paper considers how the analysis of cultural engagement can be elaborated through a reworking of the concept of cultural capital, as originally derived from Bourdieu’s (1984) Distinction. Drawing on detailed studies of the UK and Aalborg, Denmark, we show that despite the weakening...

  4. Five models of capitalism

    Directory of Open Access Journals (Sweden)

    Luiz Carlos Bresser-Pereira

    2012-03-01

    Full Text Available Besides analyzing capitalist societies historically and thinking of them in terms of phases or stages, we may compare different models or varieties of capitalism. In this paper I survey the literature on this subject, and distinguish the classification that has a production or business approach from those that use a mainly political criterion. I identify five forms of capitalism: among the rich countries, the liberal democratic or Anglo-Saxon model, the social or European model, and the endogenous social integration or Japanese model; among developing countries, I distinguish the Asian developmental model from the liberal-dependent model that characterizes most other developing countries, including Brazil.

  5. Alternative solutions for public and private catastrophe funding in Austria

    Science.gov (United States)

    Gruber, M.

    2008-07-01

    The impacts of natural hazards as well as their frequency of occurrence during the last decades have increased decisively. Therefore, the public as well as the private sector are expected to react to this development by providing sufficient funds, in particular for the improvement of protection measures and an enhanced funding of damage compensation for affected private individuals, corporate and public entities. From the public stance, the establishment of an appropriate regulatory environment seems to be indispensable. Structural and legal changes should, on the one hand, renew and improve the current distribution system of public catastrophe funds as well as the profitable investment of these financial resources, and on the other hand, facilitate the application of alternative mechanisms provided by the capital and insurance markets. In particular, capital markets have developed alternative risk transfer and financing mechanisms, such as captive insurance companies, risk pooling, contingent capital solutions, multi-trigger products and insurance securitisation for hard insurance market phases. These instruments have already been applied to catastrophic (re-)insurance in other countries (mainly the US and off-shore domiciles), and may contribute positively to the insurability of extreme weather events in Austria by enhancing financial capacities. Not only private individuals and corporate entities may use alternative mechanisms in order to retain, thus, to finance certain risks, but also public institutions. This contribution aims at analysing potential solutions for an improved risk management of natural hazards in the private and the public sector by considering alternative mechanisms of the capital and insurance markets. Also the establishment of public-private-partnerships, which may contribute to a more efficient cat funding system in Austria, is considered.

  6. Alternative solutions for public and private catastrophe funding in Austria

    Directory of Open Access Journals (Sweden)

    M. Gruber

    2008-07-01

    Full Text Available The impacts of natural hazards as well as their frequency of occurrence during the last decades have increased decisively. Therefore, the public as well as the private sector are expected to react to this development by providing sufficient funds, in particular for the improvement of protection measures and an enhanced funding of damage compensation for affected private individuals, corporate and public entities.

    From the public stance, the establishment of an appropriate regulatory environment seems to be indispensable. Structural and legal changes should, on the one hand, renew and improve the current distribution system of public catastrophe funds as well as the profitable investment of these financial resources, and on the other hand, facilitate the application of alternative mechanisms provided by the capital and insurance markets.

    In particular, capital markets have developed alternative risk transfer and financing mechanisms, such as captive insurance companies, risk pooling, contingent capital solutions, multi-trigger products and insurance securitisation for hard insurance market phases. These instruments have already been applied to catastrophic (re-insurance in other countries (mainly the US and off-shore domiciles, and may contribute positively to the insurability of extreme weather events in Austria by enhancing financial capacities. Not only private individuals and corporate entities may use alternative mechanisms in order to retain, thus, to finance certain risks, but also public institutions.

    This contribution aims at analysing potential solutions for an improved risk management of natural hazards in the private and the public sector by considering alternative mechanisms of the capital and insurance markets. Also the establishment of public-private-partnerships, which may contribute to a more efficient cat funding system in Austria, is considered.

  7. Capital Requirements and Banks' Leniency

    DEFF Research Database (Denmark)

    Dietrich, J. Kimball; Wihlborg, Clas

    2003-01-01

    We investigate the effect of changes in capital regulation on the strictness(leniency) of loan terms using a simple model of bank capital requirements andasset quality examinations. Banks offer different levels of `leniency' in the senseof willingness to offer automatic extensions of loans...... rates. As capital requirements increase thedifference between initial capital levels and between interest rates of strict andlenient banks decrease. Thus, higher capital requirements in recessions tend toreduce the interest rate premium paid for leniency. If a recession is interpreted asan increase...... in the required return, the interest rate premium paid for leniency isincreased in recession at a given level of required capital....

  8. Capitalism and human flourishing? : The strange story of the bias to activity and the downgrading of work

    NARCIS (Netherlands)

    D.R. Gasper (Des)

    2009-01-01

    textabstractWhat interpretation of human flourishing, what ideas of value does capitalism in practice embody and promote? To address this question the paper clarifies first that "capitalism" must be understood as more than merely a system of private property and markets. It contains "the prerogative

  9. 12 CFR 701.34 - Designation of low income status; Acceptance of secondary capital accounts by low-income...

    Science.gov (United States)

    2010-01-01

    ... NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS ORGANIZATION AND OPERATION OF... governmental or private entity. (6) Subordination of claim. The secondary capital account investor's claim... investor or into a separate account from which the secondary capital investor may make withdrawals. Losses...

  10. THE FORMING OF ROMANIAN NATIONAL CAPITAL

    Directory of Open Access Journals (Sweden)

    Ion Gr. IONESCU

    2017-12-01

    Full Text Available The evolution of the international economic and social-politic life, after 1821 was strongly marked by visible trends and renewing action, animated by the idea of civic freedoms and feudal privileges deleting, emancipation of the peoples and nations. As an expression of the capitalist development, we assist at the constitution intensification of the global market, at the same time, with many differences in opinions, misunderstandings, disagreements and controversies, between the developed strong states, for domination. Politically, this situation has led to convolutions interstate relations, first of all, in Western Europe. Because capitalist relationships were deeply consolidated in this part of the continent, it is easy to understand that countries regarded as great powers - economic, military - were therefore acting, for domination and expansion. The level of economic freedom, as well as the rules of private property defining, have varied, from historical stage, at historical stage. However, on the territory of Romania, the penetration and the development of capitalism and its specific relations have been carried out slower, comparatively, with the West and even the center of Europe. The present study is the fruit of a profound research, through archives, libraries, published papers, periodicals, general and special works, of which, some of them have been finalized with conclusions in order to better understand the processuality and phenomenology of the capital accumulation and capital market formation, drawing of models and templates, depending on conditions and causalities, for knowing their effects.

  11. Market and Labour Control in Digital Capitalism

    Directory of Open Access Journals (Sweden)

    Philipp Staab

    2016-11-01

    Full Text Available Theorists of post capitalism have recently argued for a more or less inevitable end to capitalism. They assume that private accumulation is systematically blocked by the inability of capitalist corporations to create revenues by setting prices as they lose control over the reproduction of their commodities and that in this process, capitalist labour will eventually disappear. Drawing on a case study of Amazon and thoughts on the policies of other leading digital corporations, we challenge these assumptions. Key corporate players of digitization are trying to become powerful monopolies and have partly succeeded in doing so, using the network effects and scaling opportunities of digital goods and building socio-technical ecosystems. These strategies have led to the development of in part isomorphic structures, hence creating a situation of oligopolistic market competition. We draw on basic assumptions of monopoly capital theory to argue that in this situation labour process rationalization becomes key to the corporation’s competitive strategies. We see the expansion of digital control and the organizational structures applied by key corporate players of the digital economy as evidence for the expansion of capitalist labour, not its reduction.

  12. Ciemat Relational Capital: Institutional Presence; Capital Relacional del Ciemat: Presencia Institucional

    Energy Technology Data Exchange (ETDEWEB)

    Vaquero Ortiz, E. M.; González Pineda, L. M.; Cascante Díaz, E.

    2015-07-01

    The resources in any organization for its activity development can be divided into two main groups: tangible assets and intangible assets. In recent decades there has been a recognition of the importance of the intangible assets as value generators for the development and growth of organizations. And the so called Relational Capital is among them Relational Capital arises from the relationship processes that an organization maintains with external agents. Thus, in the case of a public research institution, such as CIEMAT, it includes the relations with projects financing organizations, with partners and with customers (both public and private entities which are serviced), as well as the institutional presence understood as the participation in discussion and coordination forums (foundations, associations, committees…). This report presents a study of CIEMAT institutional presence in the year 2015.

  13. Does workplace social capital protect against long-term sickness absence? Linking workplace aggregated social capital to sickness absence registry data.

    Science.gov (United States)

    Hansen, Anne-Sophie K; Madsen, Ida E H; Thorsen, Sannie Vester; Melkevik, Ole; Bjørner, Jakob Bue; Andersen, Ingelise; Rugulies, Reiner

    2018-05-01

    Most previous prospective studies have examined workplace social capital as a resource of the individual. However, literature suggests that social capital is a collective good. In the present study we examined whether a high level of workplace aggregated social capital (WASC) predicts a decreased risk of individual-level long-term sickness absence (LTSA) in Danish private sector employees. A sample of 2043 employees (aged 18-64 years, 38.5% women) from 260 Danish private-sector companies filled in a questionnaire on workplace social capital and covariates. WASC was calculated by assigning the company-averaged social capital score to all employees of each company. We derived LTSA, defined as sickness absence of more than three weeks, from a national register. We examined if WASC predicted employee LTSA using multilevel survival analyses, while excluding participants with LTSA in the three months preceding baseline. We found no statistically significant association in any of the analyses. The hazard ratio for LTSA in the fully adjusted model was 0.93 (95% CI 0.77-1.13) per one standard deviation increase in WASC. When using WASC as a categorical exposure we found a statistically non-significant tendency towards a decreased risk of LTSA in employees with medium WASC (fully adjusted model: HR 0.78 (95% CI 0.48-1.27)). Post hoc analyses with workplace social capital as a resource of the individual showed similar results. WASC did not predict LTSA in this sample of Danish private-sector employees.

  14. From political capitalism to clientelist capitalism? The case of Croatia

    OpenAIRE

    Vladimir Cvijanovic; Denis Redzepagic

    2011-01-01

    The paper analyses the typology of capitalism in Croatia. The Croatian form of capitalism is specific, in form and origin, with links between the pre-independence and post-independence periods, implying that capitalism has gradually evolved – from the political during the eighties towards current clientelistic capitalism. The manufacturing focus aims to facilitate the analysis of institutional, political and economic changes over the past forty years, emphasising the implications of instituti...

  15. Green Capital: Student Capital student-led evaluation

    OpenAIRE

    Runkle, Q.; Haines, T.; Piper, K.; Leach, S.

    2016-01-01

    To assess and evaluate the impact of the Green Capital: Student Capital project, the partnership (the University of the West of England, the University of Bristol, the Students’ Union at UWE, and Bristol Students’ Union) worked with NUS to train a team of students from both universities to lead an evaluation process. There were two key aims for the evaluation: \\ud \\ud • To verify the quantitative outputs of the Green Capital: Student Capital project; \\ud • And to make a qualitative assessment...

  16. "Private Views" Ungaris

    Index Scriptorium Estoniae

    1999-01-01

    9. juulist Dunaujvarosi Kaasaegse Kunsti Instituudis eesti ja briti kunstnike ühisnäitus "Private Views. Ruum taasavastatud eesti ja briti kaasaegses kunstis". Kuraatorid Pam Skelton, Mare Tralla. Osalejad.

  17. "Private Views" Ungaris

    Index Scriptorium Estoniae

    1999-01-01

    9. juulist Dunaujvarosi Kaasaegse Kunsti Instituudis eesti ja briti kunstnike ühisnäitus "Private Views. Ruum taasavastatud eesti ja briti kaasaegses kunstis" Kuraatorid Pam Skelton, Mare Tralla. Osalejad

  18. Private sector development

    International Development Research Centre (IDRC) Digital Library (Canada)

    Small businesses can be an important vehicle for .... Small and medium enterprises make up most of private businesses in the. Middle East ... Small businesses can drive more equi- table growth. ... patterns affect job creation and the demand ...

  19. Private Web Browsing

    National Research Council Canada - National Science Library

    Syverson, Paul F; Reed, Michael G; Goldschlag, David M

    1997-01-01

    .... These are both kept confidential from network elements as well as external observers. Private Web browsing is achieved by unmodified Web browsers using anonymous connections by means of HTTP proxies...

  20. The private partners of public health: public-private alliances for public good.

    Science.gov (United States)

    McDonnell, Sharon; Bryant, Carol; Harris, Jeff; Campbell, Marci Kramish; Lobb, Ano; Hannon, Peggy A; Cross, Jeffrey L; Gray, Barbara

    2009-04-01

    We sought to convey lessons learned by the Centers for Disease Control and Prevention's (CDC's) Prevention Research Centers (PRCs) about the value and challenges of private-sector alliances resulting in innovative health promotion strategies. Several PRCs based in a variety of workplace and community settings contributed. We conducted interviews with principal investigators, a literature review, and a review of case studies of private-sector alliances in a microbusiness model, a macrobusiness model, and as multiparty partnerships supporting public health research, implementation, and human resource services. Private-sector alliances provide many advantages, particularly access to specialized skills generally beyond the expertise of public health entities. These skills include manufacturing, distribution, marketing, business planning, and development. Alliances also allow ready access to employee populations. Public health entities can offer private-sector partners funding opportunities through special grants, data gathering and analysis skills, and enhanced project credibility and trust. Challenges to successful partnerships include time and resource availability and negotiating the cultural divide between public health and the private sector. Critical to success are knowledge of organizational culture, values, mission, currency, and methods of operation; an understanding of and ability to articulate the benefits of the alliance for each partner; and the ability and time to respond to unexpected changes and opportunities. Private-public health alliances are challenging, and developing them takes time and resources, but aspects of these alliances can capitalize on partners' strengths, counteract weaknesses, and build collaborations that produce better outcomes than otherwise possible. Private partners may be necessary for program initiation or success. CDC guidelines and support materials may help nurture these alliances.

  1. Clarifying the concept of social capital through its three perspectives: individualistic, communitarian and macrosocial

    Directory of Open Access Journals (Sweden)

    Matías Membiela-Pollán

    2017-12-01

    Full Text Available The concept of social capital has received increasing attention in recent years. The complexity and multidimensionality that accompany the variable of social capital have caused confusion and ambiguity. This article presents a synthesis of social capital in three perspectives. From the individualistic or micro-social perspective, social capital is an "individual resource" that consists of the networks of relations of the focal subject that bring it a set of instrumental and expressive resources. For the communitarian or meso-social perspective, social capital is a "community resource" or set of attributes and properties present in the social structure (shared norms and values, private trust, closure ... that facilitate its functioning and collective action. Finally, for the macrosocial perspective, social capital is a "macrosocial and macroinstitutional resource" resting on aspects such as civic-mindedness, general trust and social cohesion, which favors the functioning of the economy and society in general.

  2. Does Private Tutoring Payoff?

    OpenAIRE

    Gurun, Ayfer; Millimet, Daniel L.

    2008-01-01

    We assess the causal effect of private tutoring on the probability of university placement in Turkey. We find that tutoring increases the probability of being placed in a university when non-random selection is ignored. Moreover, among those utilizing private tutoring, greater expenditure on tutoring is also positively associated with university placement. However, we find evidence of positive selection into tutoring, but negative selection into greater expenditures among those receiving tuto...

  3. Areva's privatization uncertainties

    International Nuclear Information System (INIS)

    Jemain, A.

    2004-01-01

    The French nuclear public group Areva (the fusion of CEA-Industrie, Framatome and Cogema companies) will actively prepare its privatization and stock exchange introduction before the end of the first half of 2005, in order to re-launch its acquisitions and associations policy. However, the advantages of this privatization with a preponderant public share-holding will depend on the intentions of the French government. Short paper. (J.S.)

  4. Privatizing electricity: Pt. 2

    International Nuclear Information System (INIS)

    Bindon, F.J.L.

    1991-01-01

    In February 1988, the Government announced their intention of privatizing the electricity supply industry of England, Wales and Scotland. The Government's proposals were outlined in two White Papers. Cm 322 covered the proposals for England and Wales and Cm 327 the proposals for Scotland. This article deals with the events covering the stages of the privatization process from just before passing of the Electricity Bill in July 1989 to December 1990. (author)

  5. Cooperative social capital

    Directory of Open Access Journals (Sweden)

    Oscar Acera Manero

    2005-12-01

    Full Text Available Social capital consists of the contributions of members and associates, both mandatory and voluntary. From an accounting point of view, it is a liability figure that expresses the value of a portion of the equity of the cooperative. Its inclusion in the liability is not the fact that it is a debt but by its nature unenforceable.

  6. Towards Transnational Academic Capitalism

    Science.gov (United States)

    Kauppinen, Ilkka

    2012-01-01

    This paper contributes to current debates on the relationship between globalisation and higher education. The main argument of the paper is that we are currently witnessing transnationalisation of academic capitalism. This argument is illustrated by examining the collaboration between transnational corporations and research universities, and how…

  7. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

    Thöni, Christian; Tyran, Jean-Robert; Wengström, Erik Roland

    We show that the standard trust question routinely used in social capital research is importantly related to cooperation behavior and we provide a microfoundation for this relation. We run a large-scale public goods experiment over the internet in Denmark and find that the trust question is a proxy...

  8. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

    Thöni, Christian; Tyran, Jean-Robert Karl; Wengström, Erik Roland

    2012-01-01

    Research on social capital routinely relies on survey measures of trust which can be collected in large and heterogeneous samples at low cost. We validate such survey measures in an incentivized public good experiment and show that they are importantly related to cooperation behavior in a large...

  9. Reporting on intellectual capital

    NARCIS (Netherlands)

    Meer-Kooistra, Jeltje van der; Zijlstra, Siebren M.

    2001-01-01

    In today’s knowledge-based economy intellectual capital (IC) is becoming a major part of companies’ value. Being able to manage and control IC requires that companies can identify, measure and report internally on IC. As financial accounting rules ban full disclosure of IC in the annual report the

  10. Capital projects coordination

    Directory of Open Access Journals (Sweden)

    Zubović Jovan

    2004-01-01

    Full Text Available This paper looks at the difficulties of managing modem capital projects and endeavors to reduce the complexities to simpler and more understandable terms. It examines the project environment, defines project management and discusses points of difference from traditional management. In the second part of the paper are presented fundamentals for project success for different types of projects.

  11. Reggio Social Capital

    Science.gov (United States)

    Stejzygier, Aneta

    2009-01-01

    The paper presents the social capital as the essential element of success of the Reggio Emilia preschools known for their unique approach to the early childhood education. The collaborative effort is introduced through examples of the currently ongoing "Reggio Narrates" project of Reggio preschools, the "Dialogue with the…

  12. Reproduction and Fixed Capital

    NARCIS (Netherlands)

    van Schaik, A.B.T.M.

    2014-01-01

    In the 'sixties, the reproduction model was often the subject of analysis and discussion in economic literat­ ure. Discussion was by criticism of the neo-classical concept of capital as well as by a renewed interest in the labour theory of value. Criticism of the use of a homogeneous concept of

  13. Manage "Human Capital" Strategically

    Science.gov (United States)

    Odden, Allan

    2011-01-01

    To strategically manage human capital in education means restructuring the entire human resource system so that schools not only recruit and retain smart and capable individuals, but also manage them in ways that support the strategic directions of the organization. These management practices must be aligned with a district's education improvement…

  14. Is capitalism possible?

    NARCIS (Netherlands)

    Gaay Fortman, B. de

    1998-01-01

    In the two ages of its existence capitalism has given proof of its reformability. It was, however, anti-capitalist blueprints and ideas that constituted a continuous spiritual driving force towards reform. Today, after the collapse of real existing socialism there is an urgent need for new

  15. Social Capital in Organizations.

    NARCIS (Netherlands)

    M. Oteman

    2008-01-01

    In my belief the effectiveness of organizations has more to do with managing people in a more ethical, sustainable and effective way than what is common these days. For example employees values like trust, respect and commitment are rarely considered as values that can contribute to social capital

  16. Understanding your capital options.

    Science.gov (United States)

    Payne, Christopher T

    2012-05-01

    When planning capital expenditures, hospitals and health systems should understand the following financing considerations: Traditional fixed-rate tax-exempt bonds; Variable-rate financing alternatives; Basel III Accord requirements; Direct tax-exempt bank loans; Total return swaps Taxable financings; Interest-rate swaps and collateral requirements

  17. Capital Structure and Assets

    DEFF Research Database (Denmark)

    Flor, Christian Riis

    2008-01-01

    This paper analyzes a firm's capital structure choice when assets have outside value. Valuable assets implicitly provide a collateral and increase tax shield exploitation. The key feature in this paper is asset value uncertainty, implying that it is unknown ex ante whether the equity holders ex p...

  18. Antecedents of Relational Capital

    DEFF Research Database (Denmark)

    Nowinska, Agnieszka

    This paper merges economic geography and relational capital perspective in order to analyze the proximity-based antecedents of relational assets in brokerage. It investigates empirically the role and interplay of geographical and cognitive proximity between a broker and her buyers in a quantitative...... for buyers characteristics. Lastly, I make use the under-researched empirical field of brokers....

  19. Creation of Real Estate Based on Public Private Partnership and Municipal Private Partnership Agreements in the Russian Federation

    Science.gov (United States)

    Voronina, M. D.

    2017-11-01

    The article considers individual questions connected with the application of the legislation on public private partnership and municipal private partnership agreements as new types of contracts at the newly built property development. Public private partnership and municipal private partnership agreements are contracts at the initial development stage. Their objective is to attract investments in the Russian economy including for the creation of separate real estate types (capital facilities). The Law enables one to build the relationship in such a way that joint efforts result in the grounds for the accrual of the ownership right to the built (reconstructed) asset. This circumstance certainly influences the infrastructural development of the Russian Federation and its municipal units, the rather that it occurs due to the attraction of extra-budgetary sources

  20. On the capitalization and cultivation of social capital

    DEFF Research Database (Denmark)

    Waldstrøm, Christian; Svendsen, Gunnar Lind Haase

    2008-01-01

    a dual focus on social capital as both immediately and potentially productive resources, i.e. assets that can be immediately capitalized by individuals as well as ‘cultivated' for future use. We argue that to further operationalize this concept we must distinguish between actual/potential social capital...

  1. Thin Capitalization Rules and Multinational Firm Capital Structure

    NARCIS (Netherlands)

    Blouin, J.; Huizinga, H.P.; Laeven, L.; Nicodeme, G.

    2014-01-01

    Abstract: This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using

  2. Human Capital and Optimal Positive Taxation of Capital Income

    NARCIS (Netherlands)

    B. Jacobs (Bas); A.L. Bovenberg (Lans)

    2005-01-01

    textabstractThis paper analyzes optimal linear taxes on capital and labor incomes in a life-cycle model of human capital investment, financial savings, and labor supply with heteroge- nous individuals. A dual income tax with a positive marginal tax rate on not only labor income but also capital

  3. Blended Learning as Transformational Institutional Learning

    Science.gov (United States)

    VanDerLinden, Kim

    2014-01-01

    This chapter reviews institutional approaches to blended learning and the ways in which institutions support faculty in the intentional redesign of courses to produce optimal learning. The chapter positions blended learning as a strategic opportunity to engage in organizational learning.

  4. Morphology development in immiscible polymer blends

    NARCIS (Netherlands)

    Cardinaels, R.M.; Moldenaers, P.; Guo, Qipeng

    This chapter discusses the morphology development of immiscible binary polymer blends. It first describes morphology development in droplet-matrix structures, the dynamics of fibrillar structures and cocontinuous structures. The chapter then considers binary immiscible polymer blends, such systems

  5. Radiation effect on PVC/ENR blends

    International Nuclear Information System (INIS)

    Chantara Thevy Ratnam; Khairul Zaman Mohd Dahlan

    1997-01-01

    The effect of irradiation on the physical properties of Polyvinyl Chloride / Epoxidised Natural Rubber Blends (PVC/ENR blends) were investigated. The enhancement in tensile strength, elongation at break, hardness and aging properties of the blends have confirmed the positive effect of irradiation on the blends. It is evident from gel fraction and infra red spectroscopic studies that the blends of PVC and ENR cross-linked upon irradiation. The results also revealed that at any blend composition, the enhancement in properties depend on irradiation dose which controls the degree of radiation induced cross-linking. In an attempt to maximize the constructive effect of irradiation, the influence of various additives such as stabilizers, radiation sensitizers, fillers and processing aids on the blend properties were studied. The changes in blend properties upon irradiation with the presents of above additives were also presented in this paper

  6. NESDIS Blended Rain Rate (RR) Products

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — The blended Rain Rate (RR) product is derived from multiple sensors/satellites. The blended products were merged from polar-orbiting and geostationary satellite...

  7. New variables for detecting transport disadvantages. The role of social capital

    Energy Technology Data Exchange (ETDEWEB)

    Ciommo, F. di

    2016-07-01

    This paper explores the potential role of social capital variables on the transport mode choice. Traditionally travel behavior model included social capital as empowerment factor (i.e. social capital as substitute of financial capital) or as social network influence on travel choice. Only recently constraints of social capital are considered as factors influencing travel behavior (Swanen et al, 2015, Di Ciommo & Martens, 2015).This article will show both aspects of empowerments and constraints of social capital in a dynamic way stressing two dynamic aspects of social capital: the building up social capital and use of social capital. Both aspects are related with the value of time: when you are doing something for others ( i.e. Voluntary actions, pick up all family members, etc) you are loosing your time, and your mode choice will be oriented to saving time, therefore a private mode will be chosen, while when you are using your social capital benefit (somebody else is helping you), you will easily choose the less flexible and more time consuming public transport. After defining social capital notion in both aspects of empowerments and constraints, a set of social capital variables is defined. Then two of these variables are tested through a smartphone short panel survey, where 100 individuals living or working in one surrounding southern area of Madrid have participated in entering their travel data for an entire working week. The estimated mixed-logit model that incorporated two “social capital variables: participation in voluntary activities and receiving help for various tasks (i.e. child care) show how people who have less social capital, but that are trying to build it up choose more private than public modes: building social capital stock has a cost in term of time that push people to use more flexible transport mode (i.e. private car), while people who have already a stock of social capital and can use it (i.e. helped people) receive time from others and

  8. Intrinsically safe moisture blending system

    Science.gov (United States)

    Hallman Jr., Russell L.; Vanatta, Paul D.

    2012-09-11

    A system for providing an adjustable blend of fluids to an application process is disclosed. The system uses a source of a first fluid flowing through at least one tube that is permeable to a second fluid and that is disposed in a source of the second fluid to provide the adjustable blend. The temperature of the second fluid is not regulated, and at least one calibration curve is used to predict the volumetric mixture ratio of the second fluid with the first fluid from the permeable tube. The system typically includes a differential pressure valve and a backpressure control valve to set the flow rate through the system.

  9. How venture capital works.

    Science.gov (United States)

    Zider, B

    1998-01-01

    The popular mythology surrounding the U.S. venture-capital industry derives from a previous era. Venture capitalists who nurtured the computer industry in its infancy were legendary both for their risk taking and for their hands-on operating experience. But today things are different, and separating the myths from the realities is crucial to understanding this important piece of the U.S. economy. Today's venture capitalists are more like conservative bankers than the risk takers of days past. They have carved out a specialized niche in the capital markets, filling a void that other institutions cannot serve. They are the linch-pins in an efficient system for meeting the needs of institutional investors looking for high returns, of entrepreneurs seeking funding, and of investment bankers looking for companies to sell. Venture capitalists must earn a consistently superior return on investments in inherently risky businesses. The myth is that they do so by investing in good ideas and good plans. In reality, they invest in good industries--that is, industries that are more competitively forgiving than the market as a whole. And they structure their deals in a way that minimizes their risk and maximizes their returns. Although many entrepreneurs expect venture capitalists to provide them with sage guidance as well as capital, that expectation is unrealistic. Given a typical portfolio of ten companies and a 2,000-hour work year, a venture capital partner spends on average less than two hours per week on any given company. In addition to analyzing the current venture-capital system, the author offers practical advice to entrepreneurs thinking about venture funding.

  10. Wavelet and Blend maps for texture synthesis

    OpenAIRE

    Du Jin-Lian; Wang Song; Meng Xianhai

    2011-01-01

    blending is now a popular technology for large realtime texture synthesis .Nevertheless, creating blend map during rendering is time and computation consuming work. In this paper, we exploited a method to create a kind of blend tile which can be tile together seamlessly. Note that blend map is in fact a kind of image, which is Markov Random Field, contains multiresolution signals, while wavelet is a powerful way to process multiresolution signals, we use wavelet to process the traditional ble...

  11. Blended Identities: Identity Work, Equity and Marginalization in Blended Learning

    Science.gov (United States)

    Heikoop, Will

    2013-01-01

    This article is a theoretical study of the self-presentation strategies employed by higher education students online; it examines student identity work via profile information and avatars in a blended learning environment delivered through social networking sites and virtual worlds. It argues that students are faced with difficult choices when…

  12. Capitalism: A System of Conspiracy

    OpenAIRE

    Das, Subhendu

    2010-01-01

    There are some myths about American capitalism. Some of them are (1) Capitalism made America the richest nation, (2) Capitalism is based on self interest, and (3) America has democracy. We show that the survival of capitalism is based on several powerful conspiracy theories. We briefly describe these conspiracies. Our analysis is based on the following principles: (a) Laws of conservation, (b) System theoretic concepts, and (c) The global space time (GST) environment. Using these princip...

  13. Capital Requirements and Credit Rationing

    OpenAIRE

    Itai Agur

    2010-01-01

    This paper analyzes the trade-off between financial stability and credit rationing that arises when increasing capital requirements. It extends the Stiglitz-Weiss model of credit rationing to allow for bank default. Bank capital structure then matters for lending incentives. With default and rationing endogenous, optimal capital requirements can be analyzed. Introducing bank financiers, the paper also shows that uninsured funding raises the sensitivity of rationing to capital requirements. In...

  14. Does Venture Capital Spur Innovation?

    OpenAIRE

    Samuel Kortum; Josh Lerner

    1998-01-01

    While policymakers often assume venture capital has a profound impact on innovation, that premise has not been evaluated systematically. We address this omission by examining the influence of venture capital on patented inventions in the United States across twenty industries over three decades. We address concerns about causality in several ways, including exploiting a 1979 policy shift that spurred venture capital fundraising. We find that the amount of venture capital activity in an indust...

  15. Public Supervision over Private Relationships : Towards European Supervision Private Law?

    NARCIS (Netherlands)

    Cherednychenko, O.O.

    2014-01-01

    The rise of public supervision over private relationships in many areas of private law has led to the development of what, in the author’s view, could be called ‘European supervision private law’. This emerging body of law forms part of European regulatory private law and is made up of

  16. Public-Private Partnerships in China’s Urban Water Sector

    Science.gov (United States)

    Mol, Arthur P. J.; Fu, Tao

    2008-01-01

    During the past decades, the traditional state monopoly in urban water management has been debated heavily, resulting in different forms and degrees of private sector involvement across the globe. Since the 1990s, China has also started experiments with new modes of urban water service management and governance in which the private sector is involved. It is premature to conclude whether the various forms of private sector involvement will successfully overcome the major problems (capital shortage, inefficient operation, and service quality) in China’s water sector. But at the same time, private sector involvement in water provisioning and waste water treatments seems to have become mainstream in transitional China. PMID:18256780

  17. 40 CFR 80.82 - Butane blending.

    Science.gov (United States)

    2010-07-01

    ... FUELS AND FUEL ADDITIVES Reformulated Gasoline § 80.82 Butane blending. A refiner for any refinery that produces gasoline by blending butane with conventional gasoline or reformulated gasoline or RBOB may meet... paragraph (b)(1) of this section, the refiner may: (i) Blend the butane with conventional gasoline, or...

  18. 7 CFR 989.16 - Blend.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 8 2010-01-01 2010-01-01 false Blend. 989.16 Section 989.16 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements and... CALIFORNIA Order Regulating Handling Definitions § 989.16 Blend. Blend means to mix or commingle raisins. ...

  19. Financing Preference Behaviour for Private Finance Initiative (PFI Projects

    Directory of Open Access Journals (Sweden)

    Yati Md Lasa

    2016-01-01

    Full Text Available Project Financing Initiative (PFI projects require the private sector to invest an enormous amount of capital for the development of public projects. The private sector has to seek cost-effective financing sources for their survival in the long-term concession. Conventional financing uses widely; however, Islamic financing promises better financing through profit and loss sharing. This paper reviews financing preferences for PFI projects and the factors influencing the choice of funding. The results show that religious perspective, quality of services, financing facilities and reputation are the factors that are expected will influence the financing preference behaviour, either Islamic or conventional finance.

  20. Intellectual Capital: Comparison and Contrast.

    Science.gov (United States)

    Madsen, Susan R.

    2001-01-01

    Suggests that one of the most important keys for improving individual and organizational performance is in developing and strengthening intellectual capital (IC) and explores the similarities and differences between the concepts of intellectual capital, human capital, and knowledge management. Presents four IC characteristics and addresses the…

  1. Bank capital management : International evidence

    NARCIS (Netherlands)

    De Jonghe, O.G.; Öztekin, Ö.

    We examine the dynamic behavior of bank capital using a global sample of 64 countries during the 1994-2010 period. Banks achieve deleveraging through active capital management (equity growth) rather than asset liquidation. In contrast, they achieve leveraging through passive capital management

  2. Working Paper on Social capital

    DEFF Research Database (Denmark)

    Lassen Hanan, Anne

    This paper outlines the major schools within social capital theory. Contemporary authors such as Coleman, Putnam and Bourdieu are elaborated on. The paper also presents a non-exhaustive review on studies of social capital. Furthermore, a criticial discussion on social capital is reviewed, before...

  3. Social Capital and Online Games

    OpenAIRE

    Safferling, Christoph

    2011-01-01

    We use data from an online game economy and econometric matching methods to test whether social capital of players has an impact on game success. Membership in a 'clan', a voluntary organization of players, positively impacts game success. Hence, social capital has a positive effect on outcomes. Yet, top performers do not gain from access to this social capital.

  4. Cultural Capital: A Concept Analysis.

    Science.gov (United States)

    Ohashi, Yuki; Taguchi, Atsuko; Omori, Junko; Ozaki, Akiko

    2017-07-01

    Harnessing community assets may help public health nurses address health inequalities. Cultural factor is one such asset, which is assumed to be capital in a community. Cultural capital is a key concept for understanding the causes of public health issues. This paper provided an in-depth analysis of "cultural capital" as a concept. Rodgers' evolutionary methodology was used for concept analysis. Forty-two studies published in English between 1998 and 2015 were retrieved from MEDLINE by searching for "cultural capital" in the title field. Antecedents of cultural capital included "educational environment," "belongingness in one's social group," "existing health/social inequalities," and "daily behavior." Cultural capital's identified attributes were "social cultivation," "reproductive rubric," "practical knowledge," and "autogenic ability." Cultural capital's consequences were "improving productivity," "reducing health/social inequality," and "enhancing well-being." Cultural capital is defined as capital characterized by cultivation, rubric, knowledge, and ability. These aspects of cultural capital are typically autogenic, and accumulate and reproduce through lifelong community membership. Cultural capital reduces inequality and ultimately enhances the well-being of individuals and the community through bonding, bridging, and linking economic and social capital. © 2017 Wiley Periodicals, Inc.

  5. Venture Capital and Innovation Strategies

    NARCIS (Netherlands)

    Da Rin, Marco; Penas, Maria

    2015-01-01

    Venture capital investors are specialized financial intermediaries that provides funding for technological innovation with the goal of realizing a capital gain within a few years. We are the first to examine the association of venture capital funding with a company’s choice of innovation strategies.

  6. Venture capital and innovation strategies

    NARCIS (Netherlands)

    Da Rin, Marco; Penas, Fabiana

    2017-01-01

    Venture capital investors are specialized financial intermediaries that provide funding for technological innovation with the goal of realizing a capital gain within a few years. We are the first to examine the association of venture capital funding with a company's choice of innovation strategies.

  7. Capital regulation and tail risk

    NARCIS (Netherlands)

    Perotti, E.; Ratnovski, L.; Vlahu, R.

    2011-01-01

    The paper studies risk mitigation associated with capital regulation, in a context when banks may choose tail risk assets. We show that this undermines the traditional result that higher capital reduces excess risk-taking driven by limited liability. When capital raising is costly, poorly

  8. Capital regulation and tail risk

    NARCIS (Netherlands)

    Perotti, E.; Ratnovski, L.; Vlahu, R.

    2011-01-01

    The paper studies risk mitigation associated with capital regulation, in a context where banks may choose tail risk assets. We show that this undermines the traditional result that higher capital reduces excess risk taking driven by limited liability. Moreover, higher capital may have an unintended

  9. Forecasting Business Investment Using the Capital Expenditure Survey

    OpenAIRE

    Natasha Cassidy; Emma Doherty; Troy Gill

    2012-01-01

    Business investment is a key driver of economic growth and is currently around record highs in Australia as a share of GDP. In compiling forecasts for business investment, the Reserve Bank uses a variety of different indicators, including information from liaison as well as survey measures of firms’ investment intentions. The most comprehensive survey is the Australian Bureau of Statistics’ (ABS) quarterly survey of Private New Capital Expenditure and Expected Expenditure (Capex survey). Whil...

  10. A study on determinants of capital structure in India

    Directory of Open Access Journals (Sweden)

    Anshu Handoo

    2014-09-01

    Full Text Available The paper identifies the most important determinants of capital structure of 870 listed Indian firms comprising both private sector companies and government companies for the period 2001–2010. Ten independent variables and three dependent variables have been tested using regression analysis. It has been concluded that factors such as profitability, growth, asset tangibility, size, cost of debt, tax rate, and debt serving capacity have significant impact on the leverage structure chosen by firms in the Indian context.

  11. Financial potential of migrants’ capital in Ukraine

    Directory of Open Access Journals (Sweden)

    I.М. Krupka

    2015-06-01

    Full Text Available In today’s globalized world, labor migration is an important source of remittances and other transfers of migrants to their homeland, which expands the country’s capacity for the development of the national economy and financial markets in particular. Due to the transformational changes in the domestic economy in the 1990th many citizens became migrant workers and their remittances now exceed foreign direct investment in the country. Until 2013 remittances in Ukraine were mainly coming through the banking system, but recently the dominant role is being played by international payment systems, as well as quite a significant amount is incoming by informal channels. In order to increase the role of formal financial market infrastructure in providing capital inflows of migrants first of all the cost of transfer must be reduced.Unfortunately, the capital of Ukrainian migrant workers is directed primarily at the consumer market, real estate market, as well as the shadow economy. The investment focus has actually only investments in real estate and private business (own entrepreneurship. Migrant workers invest in those areas of the economy that are the least compliant to investment and bank lending standards. At the same time, migrants almost do not use capital to purchase shares and bonds, but use it actively to invest in such financial market tool as deposits. Regardless of significant efforts by the Government of Ukraine to attract funds in the state budget by selling different variations of bonds a notable success in modern conditions was not achieved. Nowadays remittances have enabled us to soften financial instability, balance of payments deficit; to strengthen the exchange rate of the national currency and they also have the positive impact on international credit ratings of Ukraine. However, the effectiveness of government policy to direct remittances into investment is very low, and it actualizes the search of effective tools to realize

  12. 78 FR 55339 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-09-10

    ... countercyclical capital buffer was designed to take into account the macro-financial environment in which large... ability to raise capital to meet the increased minimum requirements in the current environment and upon...

  13. Privatization and the allure of franchising: a Zambian feasibility study.

    Science.gov (United States)

    Fiedler, John L; Wight, Jonathan B

    2003-01-01

    Efforts to privatize portions of the health sector have proven more difficult to implement than had been anticipated previously. One common bottleneck encountered has been the traditional organizational structure of the private sector, with its plethora of independent, single physician practices. The atomistic nature of the sector has rendered many privatization efforts difficult, slow and costly-in terms of both organizational development and administration. In many parts of Africa, in particular, the shortages of human and social capital, and the fragile nature of legal institutions, undermine the appeal of privatization. The private sector is left with inefficiencies, high prices and costs, and a reduced effective demand. The result is the simultaneous existence of excess capacity and unmet need. One potential method to improve the efficiency of the private sector, and thereby enhance the likelihood of successful privatization, is to transfer managerial technology--via franchising--from models that have proven successful elsewhere. This paper presents a feasibility analysis of franchizing the successful Bolivian PROSALUD system's management package to Zambia. The assessment, based on PROSALUD's financial model, demonstrates that technology transfer requires careful adaptation to local conditions and, in this instance, would still require significant external assistance.

  14. Netbaserede uddannelser og blended learning

    DEFF Research Database (Denmark)

    Bertelsen, Jesper Vedel; Vognsgaard Hjernø, Henriette; Jensen, Michael Peter

    2016-01-01

    Denne håndbog er tænkt som inspiration til uddannelsesfaglige medarbejdere, som er eller skal i gang med at undervise på en netbaseret uddannelse i UCL. Håndbogen giver et teoretisk overblik i forhold til netbaserede uddannelser, online- og blended learning samt en indførsel i hvilke didaktiske...

  15. New Faces of Blended Learning

    Science.gov (United States)

    Horn, Michael B.; Fisher, Julia Freeland

    2017-01-01

    The Clayton Christiansen Institute maintains a database of more than 400 schools across the United States that have implemented some form of blended learning, which combines online learning with brick-and-mortar classrooms. Data the Institute has collected over the past six months suggests three trends as this model continues to evolve and mature.…

  16. Multiscattering illumination in blended acquisition

    NARCIS (Netherlands)

    Berkhout, A.J.; Blacquiere, G.; Verschuur, D.J.

    2012-01-01

    In traditional seismic surveys, the firing time between shots is such that the shot records do not interfere in time. However, in the concept of blended acquisition, the records do overlap, allowing denser source sampling and wider azimuths in an economic way. A denser shot sampling and wider

  17. Radiation crosslinking of polymer blends

    International Nuclear Information System (INIS)

    Spenadel, L.

    1979-01-01

    Rocked by the one-two punch of rising energy costs and tougher pollution controls, a growing number of companies are looking to radiation crosslinking as a cheaper, cleaner alternative to heat and costly chemical crosslinking agents such as peroxides. With the development of larger, more powerful electron beam machines it is now possible to irradiate parts as thick as 400 mils in a single pass. Two application areas which have been investigated at our laboratory are the electron beam processing of thermoplastic elastomeric automotive parts and EPDM electrical insulation. This paper covers work carried out to develop the necessary technology base for the radiation crosslinking of ethylene propylene/polyolefin blends. Initial results indicate that EP/PE blends of electrical insulation quality cross-link quite readily when irradiated. On the other hand, EP/PP blends developed for automotive fascia require the addition of crosslinking monomers such as trimethylol propane trimethacrylate in order for crosslinking to predominate over chain scission. Crosslinking EP/PP blends improve mar resistance, flexural set and deformation at elevated temperatures. These are all key properties for automotive fascia. (author)

  18. Confined flow of polymer blends

    NARCIS (Netherlands)

    Tufano, C.; Peters, G.W.M.; Meijer, H.E.H.

    2008-01-01

    The influence of confinement on the steady-state morphology of two different emulsions is investigated. The blends, made from polybutene (PB) in polydimethylsiloxane (PDMS) and polybutadiene (PBD) in PDMS, are sheared between two parallel plates, mostly with a standard gap spacing of 40 m, in the

  19. PEO + PVP blended polymer composite

    Indian Academy of Sciences (India)

    Blended polymer films of polyethylene oxide + polyvinyl pyrrolidone (PEO + PVP) containing transition metal (TM) ions like Fe3+, Co2+ and Ni2+ have been synthesized by a solution casting method. For these films, structural, thermal, magnetic and optical properties have been studied. X-ray diffraction results reveal the ...

  20. Blended Learning: The Student Viewpoint

    African Journals Online (AJOL)

    Student perceptions were assessed using Mann–Whitney. U‑test and ... Keywords: Blended learning, Online learning, Students' perceptions. Access this article online ..... performance, EC: Educational counseling, MIB: Medical insurance billing, MT: .... distance in education at the harvard business school. Educ. Technol ...

  1. Improvement of biodiesel methanol blends

    Directory of Open Access Journals (Sweden)

    Y. Datta Bharadwaz

    2016-06-01

    Full Text Available The main objective of this work was to improve the performance of biodiesel–methanol blends in a VCR engine by using optimized engine parameters. For optimization of the engine, operational parameters such as compression ratio, fuel blend, and load are taken as factors, whereas performance parameters such as brake thermal efficiency (Bth and brake specific fuel consumption (Bsfc and emission parameters such as carbon monoxide (CO, unburnt hydrocarbons (HC, Nitric oxides (NOx and smoke are taken as responses. Experimentation is carried out as per the design of experiments of the response surface methodology. Optimization of engine operational parameters is carried out using Derringers Desirability approach. From the results obtained it is inferred that the VCR engine has maximum performance and minimum emissions at 18 compression ratio, 5% fuel blend and at 9.03 kg of load. At this optimized operating conditions of the engine the responses such as brake thermal efficiency, brake specific fuel consumption, carbon monoxide, unburnt hydrocarbons, nitric oxide, and smoke are found to be 31.95%, 0.37 kg/kW h, 0.036%, 5 ppm, 531.23 ppm and 15.35% respectively. It is finally observed from the mathematical models and experimental data that biodiesel methanol blends have maximum efficiency and minimum emissions at optimized engine parameters.

  2. The Free Movement of Capital and Foreign Direct Investment

    DEFF Research Database (Denmark)

    Hindelang, Steffen

    2009-01-01

    The scope of protection offered to foreign investors by EU law has become a matter of intense political debate. Neo-protectionist policies are on the rise within EU Member States, who are struggling to acclimatise to increasing inward direct investment from developing countries. Strict regulations...... are being implemented to control the flow of this investment, undermining the principle of free movement of capital. Are such policies permitted under EU law? What impact does EU law have on foreign direct investment? This book addresses these questions through a coherent doctrinal reconstruction of the EC...... Treaty provisions on free movement of capital in a third country context. Opening with a timely restatement of the central features of the EU law of free movement of capital, the book then asks the central question: What rights does a private market participant, engaged in cross-border direct investment...

  3. Performance systems and social capital

    DEFF Research Database (Denmark)

    Rasmussen, Grane Mikael Gregaard; Edwards, Kasper

    2014-01-01

    Performance systems and social capital are considered mutually exclusive. Contemporary studies show that social capital is essential in generating performance improvement. This raises an important question: “How do performance systems and social capital correspond?” This study draws on findings...... from a study on implementation of a performance system in Danish construction. The results show causalities between implementing the performance system and the emergence of social capital in construction projects. Results indicate that performance systems and social capital is not mutually exclusive...

  4. Introducing blended e-learning course design

    DEFF Research Database (Denmark)

    Gyamfi, Samuel Adu; Ryberg, Thomas

    2012-01-01

    In the face of diminishing education budgets in higher education, blended learning has been found to be a viable and effective approach to deliver high-quality, up-to-date, on-demand solutions to developing cross-curricular skills of undergraduates. However, research has also shown that blended...... learning solutions do not often live up to the potential of the approach or fail to produce the intended results because the students are not always equipped to handle the technical, psychological and organisational challenges of blended learning approaches. This project surveyed seventy-five first year...... the students’ e-readiness for an implementation of a blend-ed course design....

  5. Leveraging organisational cultural capital

    Directory of Open Access Journals (Sweden)

    R Scheel

    2007-10-01

    Full Text Available Organisational culture discourse mandates a linear approach of diagnosis, measurement and gap analysis as standard practice in relation to most culture change initiatives. Therefore, a problem solving framework geared toward “fixing�? and/or realigning an organisation’s culture is usually prescribed. The traditional problem solving model seeks to identify gaps between current and desired organisational cultural states, inhibiting the discovery of an organisation’s unique values and strengths, namely its cultural capital. In pursuit of discovering and leveraging organisational cultural capital, a descriptive case study is used to show how an Appreciative Inquiry process can rejuvenate the spirit of an organisation as a system-wide inquiry mobilises a workforce toward a shared vision.

  6. Managing soil natural capital

    DEFF Research Database (Denmark)

    Cong, Ronggang; Termansen, Mette; Brady, Mark

    2017-01-01

    Farmers are exposed to substantial weather and market related risks. Rational farmers seek to avoid large losses. Future climate change and energy price fluctuations therefore make adaptating to increased risks particularly important for them. Managing soil natural capital—the capacity of the soil...... to generate ecosystem services of benefit to farmers—has been proven to generate the double dividend: increasing farm profit and reducing associated risk. In this paper we explore whether managing soil natural capital has a third dividend: reducing the downside risk (increasing the positive skewness of profit......). This we refer to as the prudence effect which can be viewed as an adaptation strategy for dealing with future uncertainties through more prudent management of soil natural capital. We do this by developing a dynamic stochastic portfolio model to optimize the stock of soil natural capital—as indicated...

  7. 78 FR 62417 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-10-22

    ..., Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital Rule AGENCY: Federal Deposit Insurance... Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and...

  8. Inequality in Human Capital and Endogenous Credit Constraints.

    Science.gov (United States)

    Hai, Rong; Heckman, James J

    2017-04-01

    This paper investigates the determinants of inequality in human capital with an emphasis on the role of the credit constraints. We develop and estimate a model in which individuals face uninsured human capital risks and invest in education, acquire work experience, accumulate assets and smooth consumption. Agents can borrow from the private lending market and from government student loan programs. The private market credit limit is explicitly derived by extending the natural borrowing limit of Aiyagari (1994) to incorporate endogenous labor supply, human capital accumulation, psychic costs of working, and age. We quantify the effects of cognitive ability, noncognitive ability, parental education, and parental wealth on educational attainment, wages, and consumption. We conduct counterfactual experiments with respect to tuition subsidies and enhanced student loan limits and evaluate their effects on educational attainment and inequality. We compare the performance of our model with an influential ad hoc model in the literature with education-specific fixed loan limits. We find evidence of substantial life cycle credit constraints that affect human capital accumulation and inequality. The constrained fall into two groups: those who are permanently poor over their lifetimes and a group of well-endowed individuals with rising high levels of acquired skills who are constrained early in their life cycles. Equalizing cognitive and noncognitive ability has dramatic effects on inequality. Equalizing parental backgrounds has much weaker effects. Tuition costs have weak effects on inequality.

  9. Policy changes that encourage private business investment in Colombia

    OpenAIRE

    Dailami, Mansoor

    1989-01-01

    Private business investment has expanded remarkably in Colombia's recent economic recovery. Sustained expansion of this investment is considered crucial to continued economic growth and increases in production. Having analyzed demand, the cost of capital, and the availability and allocation of investable funds, the paper makes the following conclusions. First, motivating firms to expand capacity is a key requirement for continued expansion. Secondly, frequent forecasting of such variables as ...

  10. Tuition Fees, as User Prices, and Private Incentives

    OpenAIRE

    Economides, George; Philippopoulos, Apostolis; Sakkas, Stelios

    2016-01-01

    This paper studies the aggregate and distributional implications of introducing tuition fees for public education services into a tax system with income and consumption taxes. The setup is a neoclassical growth model where agents differ in capital holdings. We show that the introduction of tuition fees (a) improves individual incentives to work and/or save and (b) can be both efficient and equitable. The focus is on the role of tuition fees as an extra price and how this affects private incen...

  11. Timing of Investment and Dynamic Pricing in Privatized Sectors

    OpenAIRE

    Sandro Brusco; Ornella Tarola; Sandro Trento

    2012-01-01

    In equipment-intensive sectors - such as water utilities, power generation, gas - billions of dollars are spent in capital equipment. We discuss and characterize the optimal policy of a profit-maximizing firm and compare it with the optimal policy of a welfare-maximizing planner. When there is no technical progress, the duration of the plant is longer for a private firm. With technical progress, we show that duration tends to increase when the installed capacity increases over time, while it ...

  12. Selection of intellectual capital management strategies

    OpenAIRE

    Shcherbachenko Viktoriia Oleksiivna

    2016-01-01

    This article deals with the selection of intellectual capital management strategy. The attention is paid to the structure of intellectual capital, which consists of human capital, customer capital, process capital, intellectual property, intangible assets. The algorithm of selection of intellectual capital management strategy was created by author.

  13. Selection of intellectual capital management strategies

    Directory of Open Access Journals (Sweden)

    Shcherbachenko Viktoriia Oleksiivna

    2016-02-01

    Full Text Available This article deals with the selection of intellectual capital management strategy. The attention is paid to the structure of intellectual capital, which consists of human capital, customer capital, process capital, intellectual property, intangible assets. The algorithm of selection of intellectual capital management strategy was created by author.

  14. Private Sector Savings

    Directory of Open Access Journals (Sweden)

    Pitonáková Renáta

    2018-03-01

    Full Text Available The majority of household savings are in the form of bank deposits. It is therefore of interest for credit institutions to tailor their deposit policy for getting finances from non-banking entities and to provide the private sector with the loans that are necessary for investment activities and consumption. This paper deals with the determinants of the saving rate of the private sector of Slovakia. Economic, financial and demographic variables influence savings. Growth of income per capita, private disposable income, elderly dependency ratio, real interest rate and inflation have a positive impact on savings, while increases in public savings indicate a crowding out effect. The inflation rate implies precautionary savings, and dependency ratio savings for bequest. There are also implications for governing institutions deciding on the implementation of appropriate fiscal and monetary operations.

  15. PRIVATE SECURITY IN SPORT

    Directory of Open Access Journals (Sweden)

    Dragan Vukasović

    2011-09-01

    Full Text Available Given the importance of sport for international integration, affirmation, a sense of belonging and other values of general interest, in order to maintain and open new prospects of development, it is necessary to form the private security system along with state security system, with a view to creating conditions for development sports athletes to achieve better results both in domestic and international competitions. Private security is only one element of an integrated security system which, with its efficient organization with the use of adequate means and measures should provide answers to new challenges, risks and threats. Private security in line with the new understanding of the concept of security has an important role in providing athletes.

  16. Alternative measures of the Federal Reserve Banks' cost of equity capital

    OpenAIRE

    Barnes, Michelle L.; Lopez, Jose A.

    2005-01-01

    The Monetary Control Act of 1980 requires the Federal Reserve System to provide payment services to depository institutions through the twelve Federal Reserve Banks at prices that fully reflect the costs a private-sector provider would incur, including a cost of equity capital (COE). Although Fama and French (1997) conclude that COE estimates are “woefully” and “unavoidably” imprecise, the Reserve Banks require such an estimate every year. We examine several COE estimates based on the Capital...

  17. The Impact of Public Capital Investments on the Revenue Growth of Medium Enterprise in Indonesia

    OpenAIRE

    Tirtosuharto, Darius

    2012-01-01

    Public capital investment represents the role of state and local governments in supporting greater capacity of private enterprises to gain success in a market economy measured by revenue growth. Medium enterprises are considered as the catalysts for economic growth and competitiveness particularly in developing countries due to efficiency and flexibility in an adverse economic environment. Using aggregate data of 30 states (provinces) in Indonesia from 1997-2002, the impact of public capital ...

  18. Private Tutoring: Evidence from India

    OpenAIRE

    Azam, Mehtabul

    2015-01-01

    Drawing on the nationally representative "Participation and Expenditure in Education" surveys, we document the incidence and cost of private tutoring at different stages of schooling over the last two decades in India. As private tutoring involve two decisions: a) whether to take private tuition or not, and b) how much to spend on private tutoring conditional on positive decision in (a), we analyze the determinants of the two decisions separately using a Hurdle model. We find that private tut...

  19. Peruvian projects, privatization proceeding

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    This paper reports that Petroleos del Peru is forging ahead on several fronts despite Peru's political turmoil and uncertainty over where government ordered-privatization will take it. The state oil company: is expected to sign contract soon related to development of Chambira oil field in the northern jungle; let contract to a group of Peruvian and Brazilian companies for construction of an oil terminal at Talara on the Pacific coast; and received expressions of interest in participating in an operating contract on an offshore block operated by its Petromar SA offshore subsidiary under the government's privatization program

  20. Peruvian projects, privatization proceeding

    Energy Technology Data Exchange (ETDEWEB)

    1992-10-19

    This paper reports that Petroleos del Peru is forging ahead on several fronts despite Peru's political turmoil and uncertainty over where government ordered-privatization will take it. The state oil company: is expected to sign contract soon related to development of Chambira oil field in the northern jungle; let contract to a group of Peruvian and Brazilian companies for construction of an oil terminal at Talara on the Pacific coast; and received expressions of interest in participating in an operating contract on an offshore block operated by its Petromar SA offshore subsidiary under the government's privatization program.

  1. At private den

    DEFF Research Database (Denmark)

    Winther, Ida

    2006-01-01

    ?To go private? As an object the cell phone is a diminutive phenomenon, but its power and importance in the social space is infinite. What happens in the social space when the cell phone is used and when it is turned off? As a point of departure observations from a field study conducted in a youth...... club (teens between 12-16 years) in Denmark will be presented. The teens are always situated end located when they use the cell phone. When they use it, temporary personal reserves are created, in which they do territorial demands. As the most obvious they forget themselves and ?go private?. It has...

  2. Sources of Regional Banks Capitalization

    Directory of Open Access Journals (Sweden)

    Olga Sergeevna Miroshnichenko

    2018-03-01

    Full Text Available Searching of sources to increase the capitalization of Russian banks is an important economic problem for both the national and regional economy. Moreover, a strong capital base allows to credit institutions to meet the demands of economic agents for banking service. The research focuses on the choice of sources of regulatory capital for the banks of Tyumen region in the context of changing supervisory requirements in the period of 2005–2016, in different phases of the business cycle. We apply econometric methods of statistical information using IBM SPSS Statistics software. We have calculated the individual correlations of regional banks’ capital with gross domestic product (GDP (excluding gross regional product (GRP and GRP (with the exception of the effect of GDP. These calculations have shown that the capital of regional banks is related only to GDP. The increase in the capital of regional banks is accompanied by a change in its structure: the share of authorized capital has halved, and the share of subordinated debt has grown. All sources of capital, other than the reserve fund, are related to GDP. Authorized capital is associated with the profit of profitable lending institutions; retained earnings in the capital of regional banks — with the aggregated amount of risks of the banking system of the Russian Federation. Subordinated debt, like capital as a whole, is negatively affected by the profitability of the banking sector. The change in the capital of regional banks is determined by the change in retained earnings, subordinated debt and reserve fund. Modelling of these relations has allowed to obtain a system of equations. This system synthesizes linear regression models of changing the capital of regional banks in the context of their sourcing. The results of this study are significant for theoretical justification and practical development of a balanced financial policy of regional banks. Our research will contribute to

  3. Development of Optimization method about Capital Structure and Senior-Sub Structure by considering Project-Risk

    Science.gov (United States)

    Kawamoto, Shigeru; Ikeda, Yuichi; Fukui, Chihiro; Tateshita, Fumihiko

    Private finance initiative is a business scheme that materializes social infrastructure and public services by utilizing private-sector resources. In this paper we propose a new method to optimize capital structure, which is the ratio of capital to debt, and senior-sub structure, which is the ratio of senior loan to subordinated loan, for private finance initiative. We make the quantitative analysis of a private finance initiative's project using the proposed method. We analyze trade-off structure between risk and return in the project, and optimize capital structure and senior-sub structure. The method we propose helps to improve financial stability of the project, and to make a fund raising plan that is expected to be reasonable for project sponsor and moneylender.

  4. Data blending in health care : Evaluation of data blending

    OpenAIRE

    Chen, Qian

    2016-01-01

    This report is aimed at those who are interested in data analysis and data blending. Decision making is crucial for an organization to succeed in today’s market. Data analysis is an important support activity in decision making and is applied in many industries, for example healthcare. For many years data analysts have worked on structured data in small volumes, with traditional methods such as spreadsheet. As new data sources emerged, such as social media, data is generated in higher volume,...

  5. Seeding Social Capital? Urban Community Gardening and Social Capital

    DEFF Research Database (Denmark)

    Christensen, Søren

    2017-01-01

    There is a continuing debate regarding urban community gardening’s benefits to local communities, and a particularly interesting branch of this debate has focused on community gardens capacity to encourage and facilitate social interaction, which may generate social capital. Social capital...... is an increasingly important concept in international research and measures of social capital have been associated with various measures of health. In a meta-analysis of literature published between 2000 and 2016 regarding community gardens’ social advantages, through the lens of the concept of social capital......, it is demonstrated that several studies substantiate that urban community gardens create social capital, both bonding and bridging, and exhibit indications of linking. It is moreover identified how there is much to be learned from future research, illuminating how urban community gardens can foster social capital...

  6. Rethinking the economics of capital mobility and capital controls

    Directory of Open Access Journals (Sweden)

    Thomas I. Palley

    2009-09-01

    Full Text Available This paper reexamines the issue of international financial capital mobility, which is today's economic orthodoxy. Discussion is often framed in terms of the impossible trinity. That framing distorts discussion by representing capital mobility as having equal significance with sovereign monetary policy and control over exchange rates. It also distorts discussion by ignoring possibilities for coordinated monetary policy and exchange rates, and for managed capital flows. The case for capital mobility rests on neo-classical economic efficiency arguments and neo-liberal political arguments. The case against capital mobility is based on Keynesian macroeconomic inefficiency arguments, neo-Walrasian market failure arguments, and neo-Marxian arguments regarding distortion of the social structure of accumulation. Close examination shows the case for capital mobility to be extremely flimsy, pointing to the ideological dimension behind today's policy orthodoxy.

  7. Small public private partnerships

    DEFF Research Database (Denmark)

    Koch, Christian; Jensen, Jesper Ole

    2009-01-01

    Public Private Partnerships (PPP) are frequently mobilized as a purchasing form suitable for large infrastructure projects. And it is commonly assumed that transaction costs linked to the establishment of PPP make them prohibitive in small sizes. In a Danish context this has been safeguarded by t...

  8. Secure quantum private comparison

    International Nuclear Information System (INIS)

    Yang Yuguang; Cao Weifeng; Wen Qiaoyan

    2009-01-01

    We propose a two-party quantum private comparison protocol using single photons, in which two distrustful parties can compare whether their secrets are equal with the help of a third party (TP). Any information about the values of their respective secrets will not be leaked out even with a compromised TP. Security is also discussed.

  9. Secure quantum private comparison

    Energy Technology Data Exchange (ETDEWEB)

    Yang Yuguang [College of Computer Science and Technology, Beijing University of Technology, Beijing 100124 (China); Cao Weifeng [College of Electric and Information Engineering, Zhengzhou University of Light Industry, Zhengzhou 450002 (China); Wen Qiaoyan [State Key Laboratory of Networking and Switching Technology, Beijing University of Posts and Telecommunications, Beijing 100876 (China)], E-mail: yangyang7357@bjut.edu.cn

    2009-12-15

    We propose a two-party quantum private comparison protocol using single photons, in which two distrustful parties can compare whether their secrets are equal with the help of a third party (TP). Any information about the values of their respective secrets will not be leaked out even with a compromised TP. Security is also discussed.

  10. Future Of Privatized Warfare

    Science.gov (United States)

    2016-05-26

    including Bosnia, Ukraine, Chile , and others made up the largest portion of private contractors in Iraq.43 Mercenary...56 movements, schools are now advocating “diversity rather than unity” and make “little effort to inculcate immigrants in American culture...identities are becoming increasingly important as a result of failures to assimilate new immigrants . Huntington highlights that immigrants from Mexico

  11. A Typology of Social Capital and Associated Network Measures

    OpenAIRE

    Jackson, Matthew O.

    2017-01-01

    I provide a typology of social capital, breaking it down into seven more fundamental forms of capital: information capital, brokerage capital, coordination and leadership capital, bridging capital, favor capital, reputation capital, and community capital. I discuss how most of these forms of social capital can be identified using different network-based measures.

  12. Government Sponsored Venture Capital: Blessing Or Curse?

    Directory of Open Access Journals (Sweden)

    Erika Jáki

    2017-12-01

    Full Text Available Young companies with growth opportunities face serious problems when it comes to financing. The private venture capital (VC market fails to provide sufficient funding for this segment. First, we present the main characteristics of start-up companies and market failures that can lead to government intervention. These failures include asymmetric information embodied in the business plan; high transaction costs of the investment process from the investment decision to the exit; and positive externalities in the economy, as the government prefers other goals than profit realization. Government participation is categorized as direct or indirect intervention. We present international studies showing that indirect government intervention can have both beneficial and negative effects on the vc market. Finally, the Hungarian government’s participation and intervention are evaluated on the domestic VC market.

  13. Business-State Relations in the Differentiated Private Sector in Vietnam

    DEFF Research Database (Denmark)

    Thomsen, Lotte

    2011-01-01

    Abstract This paper examines private businesses' access to land and capital in Vietnam. It finds that the allocation of these resources to private firms is still excessively state-driven and personalised, and examines the links that business people of different ethnical and regional backgrounds...... have with the state and how this facilitates or hinders their access to land and capital. Lacking relationships with the state may have profound consequences for unconnected private enterprises, which are accordingly subject to uneven competition from connected ones. The paper suggests that private...... businesses' uneven opportunities are basically a consequence of the general history of the country and the role that individual business people have played in it, in such respects as having had former state-sector employment, party membership, the 'side' they were on before and during the Vietnam War etc...

  14. Policy Pathways: Joint Public-Private Approaches for Energy Efficiency Finance

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-09-06

    This Policy Pathway outlines, through the experiences and lessons learned from country examples, the critical elements to put in place a public-private partnership to finance energy efficiency. It focuses on three mechanisms - dedicated credit lines, risk guarantees, and energy performance service contracts and presents the planning, implementing, monitoring, and evaluating phases of implemention. Accelerating and scaling up private investment in energy efficiency is crucial to exploit the potential of energy efficiency. However many barriers remain to private investment such as access to capital, uncertainty of future energy prices, transaction costs, perceived higher risk, and lack of knowledge. As part of the IEA 25 Energy Efficiency Policy Recommendations, the IEA recommends that governments support private investment in energy efficiency. A joint public-private approach can use public finance and regulatory policy to support the scaling up of private investment in energy efficiency.

  15. X-ray blending device

    International Nuclear Information System (INIS)

    Manolov, S.S.; Donchev, I.D.; Paunchev, A.N.; Atanasov, A.B.; Kerin, T.P.

    1985-01-01

    The X-ray blending device comprises electric motors for vertical and horizontal blending plates, electrically connected with the output of the block for format voltages and mechanically connected with the measuring potentiometers' slides. The potentiometers are respectively connected with the data inputs of the block for format voltages, the control input of which is connected with the control block output in a mode of scanning. The data outputs of the format voltage block are connected through a buffer converter, a memory block and a decoder with the data inputs of the first and second digital-to-analog converters, the outputs of which are connected with the first inputs of the first and the second comparison circuits. The second inputs of the last are linked to the slides of the first and the second potentiometers and their inputs are connected with the data inputs of the first and the second combinational logic circuits. The output of the control block in a mode of scanning is connected with the first control inputs of the first and the second combinational logic circuits and with the control inputs of the memory block and the decoder. The second and the third control units of the first and the second combinational circuits are respectively linked with the outputs for a position determination of the vertical and horizontal blending plates from the control block in a mode of scanning. The outputs of the first and the second combinational logic circuits are respectively connected with the first and the second control bridge circuits, the control outputs of which are electrically connected with the first and the second electric motors for vertical and horizontal blending plates. 1 cl., 3 figs

  16. SOCIAL CAPITAL AND REGIONAL DEVELOPMENT: THE CASE OF SOUTHEAST TOCANTINS

    Directory of Open Access Journals (Sweden)

    Waldecy Rodrigues

    2012-05-01

    Full Text Available What are the variables as the economic development of localities? The traditional economic view emphasizes the role of natural conditions, human capacity, the public and private investments to the process of economic growth and development, but recently the literature on social capital has been emphasizing that economic variables are not sufficient to explain the process, as the social and civic participation are also relevant. Thus, this paper has as main objective to present and discuss the relationship between social capital and local economic development, taking as a case study in southeastern state of Tocantins. The method employed to collect secondary data on the variables as the development and interviews to assess the social capital of the municipalities surveyed. They were collected in a descriptive way and also created an econometric model to assess the specific importance of social capital on the levels of development in the region. We conclude that social capital is relevant to improving development indicators, but variables related to the advancement of public policies to improve life expectancy, education and direct combat poverty are even more important.

  17. Knight Capital Americas LLC

    DEFF Research Database (Denmark)

    Austin, Robert D.; Meister, Darren

    2015-01-01

    It took 19 years to build Knight Capital Americas LLC into the largest market maker on the New York Stock Exchange, but on August 1, 2012, it took only 45 minutes for the firm to be wiped out by an information technology (IT) problem: a change in the company's software caused it to lose more than...... $450 million dollars in less than an hour. Although it was ultimately saved from bankruptcy when it was acquired two days later, the terms of acquisition were very unfavourable to the company's shareholders. How did this happen? Could it have been prevented? What should the staff, the chief executive...

  18. Corruption and Social Capital

    DEFF Research Database (Denmark)

    Bjørnskov, Christian

    2003-01-01

    I examine the causal relation between social capiatl and corruption. A simple model illustrates potential mechanisms and yields testable implications, which I estimate in a sample of European countries. The estimated effect of social capital on corruption is found to be robust to the inclusion...... of a number of other variables and supplementing the sample with slightly older data from non-European countries. The evidence of the reverse causal direction is weak. I suggest that it is possible to build social capiatl through investing in education, interest in society and some level of income...

  19. Contratos de capital humano

    OpenAIRE

    Oscar Alejandro Goyes Viteri

    2005-01-01

    Este documento busca dar a conocer el tema de la inversión en capital humano a través de la celebración de contratos atípicos y utilizando la fiducia mercantil y la titularización como vehículos financieros. Por medio de estos contratos un estudiante obtiene los recursos que requiere para financiar su educación superior, a cambio de entregar un porcentaje de sus ingresos después de su graduación a quien financió la operación.

  20. CAPITAL HUMANO: DOS ENFOQUES

    Directory of Open Access Journals (Sweden)

    María Isabel Pueyo Roy

    2005-01-01

    Full Text Available El artículo presenta un resumen de la teoría existente sobre capital humano, considerando dos proposiciones que se complementan: la Teoría Neoclásica -educación como formación laboral o señalización al mercado de trabajo- y la Teoría Institucional o de mercados internos de trabajo. Se presenta el desarrollo de ambas teorías, los problemas que presentan y la complementariedad entre las mismas.

  1. Determinants of capital structure.

    Science.gov (United States)

    McCue, M J; Ozcan, Y A

    1992-01-01

    This study analyzes the determinants of hospital capital structure in a new market setting that are created by the financial pressures of prospective payment and the intense price competition among hospitals. Using California data, the study found hospital system affiliation, bed size, growth rate in revenues, operating risk, and asset structure affected both short- and long-term debt borrowings. In addition, percentage of uncompensated care, profitability, and payer mix influenced short-term borrowings while market conditions and ownership affected long-term borrowings. Most significant of all is the finding that smaller hospitals tend to borrow more, possibly because they cannot generate funds internally.

  2. Blending of phased array data

    Science.gov (United States)

    Duijster, Arno; van Groenestijn, Gert-Jan; van Neer, Paul; Blacquière, Gerrit; Volker, Arno

    2018-04-01

    The use of phased arrays is growing in the non-destructive testing industry and the trend is towards large 2D arrays, but due to limitations, it is currently not possible to record the signals from all elements, resulting in aliased data. In the past, we have presented a data interpolation scheme `beyond spatial aliasing' to overcome this aliasing. In this paper, we present a different approach: blending and deblending of data. On the hardware side, groups of receivers are blended (grouped) in only a few transmit/recording channels. This allows for transmission and recording with all elements, in a shorter acquisition time and with less channels. On the data processing side, this blended data is deblended (separated) by transforming it to a different domain and applying an iterative filtering and thresholding. Two different filtering methods are compared: f-k filtering and wavefield extrapolation filtering. The deblending and filtering methods are demonstrated on simulated experimental data. The wavefield extrapolation filtering proves to outperform f-k filtering. The wavefield extrapolation method can deal with groups of up to 24 receivers, in a phased array of 48 × 48 elements.

  3. Teaching Shakespeare through blended learning

    Directory of Open Access Journals (Sweden)

    Lesley Hawkes

    2018-03-01

    Full Text Available This paper describes and discusses experimentation with the use of blended learning in teaching Shakespeare. Previous iterations of the subject in a traditional lecture and tutorial format had seen a decline in student attendance and a fall in student achievement at the higher grade levels. A further complicating issue was the range of expectations from the cohort, which comprised students from Creative Writing, Drama, and Education, a factor which also highlights the cross-disciplinary nature of teaching Shakespeare. A blended learning and lectorial format was employed to facilitate small group discussion of the plays in conjunction with a wider social and historical overview. Student feedback indicated that the changes to the delivery method were received positively, although some questions do remain concerning levels of student engagement and the specific disciplinary needs of student cohorts. The findings of the teaching of this subject will translate usefully to other fields and disciplines, especially as more and more subjects take up blended learning. The findings indicate that it is not enough to take up new technologies in the teaching of a unit. The learning environment must also be rethought and reconceptualised.

  4. A Review and Assessment of Privatization in Canada

    Directory of Open Access Journals (Sweden)

    Aidan R. Vinning

    2012-01-01

    Full Text Available Most privatizations in Canada occurred in the 10-year period from the mid-1980s to the mid1990s, and while many of the remaining candidates are both politically and economically problematic, the Harper government has signalled its renewed interest in more privatizations. This paper, written by two of Canada’s leading experts on the subject, comprehensively assesses hard data from the earlier privatizations in Canada, including sectors such as energy, transport and telecommunications. They find that the overall impacts have been largely positive, in many cases impressively so. Key economic indicators such as capital expenditures, dividends, tax revenues and sales per employee tended to increase, while others such as employment initially fell, only to rise again over the long term. Ultimately, most of the privatized firms continue to operate efficiently, making them positive contributors to Canadians’ social welfare through the provision of increased economic opportunities, higher profits and taxes. Drawing on lessons learned, the authors propose a common-sense framework to guide future privatizations and ensure all Canadians derive the maximum possible benefits from them. No Canadian government has ever formulated such a plan for a privatization regime, making this paper a must-read for anyone with a stake in the future of Canadian business.

  5. The role of territorial capital in building the competitive advantages of Podkarpackie Voivodeship

    Directory of Open Access Journals (Sweden)

    Dąbrowska Anna

    2017-06-01

    Full Text Available In the discussion of regional development factors in recent years, more and more importance has been attributed to territory, locality, site specificity and endogenous resources, as evidenced on theoretical grounds by the concept of territorial capital (Camagni 2008 and regional, place-based policy. This article aims to identify the elements of territorial capital that play a key role in the process of changing the development path of an underdeveloped region - Podkarpackie - as well as ascertaining what consequences territorial capital has for development planning within regional policy. The research highlights the importance of the immobile and intangible development factors - a high level of social capital, extensive networks and the ability to cooperate - which have helped to eliminate the limitations resulting from the weakness of other factors (especially material factors, such as private capital and low GDP.

  6. Social Capital in Rural Denmark

    DEFF Research Database (Denmark)

    Svendsen, G.L.; Svendsen, Gert Tinggaard

    1999-01-01

    What are the roots of social capital and how can it be measured and built? Social capital is considered as a new production factor which must be added to the conventional concepts of human and physical capital. Social capital is productive because it increases the level of trust in a society...... and allows more transactions to take place without third-party enforcement. Theory and lessons from empirical evidence lead to the general recommendation that any loss in social capital must be deducted from the economic gain following market forces. For example, the voluntary organization of small......-sized groups in the Danish Cooperative Dairy Movement was eliminated due to economies of scale. It may be so that an alternative way of production, taking social capital into account, could have increased economic growth further....

  7. Enhancing Cross-Cultural Training Efficacy on Expatriate Adjustment through Emotional Intelligence and Social Capital

    OpenAIRE

    Susanto, Ely; Rostiani, Rokhima

    2012-01-01

    Cross cultural training is widely believed to make a positive contribution to expatriate adjustment. In practice, however, it is very costly and sometimes ineffective for expatriates. Therefore, there is a growing importance placed on increasing the cost effectiveness or enhancing the efficacy of crosscultural training by functioning individual expatriate’s social capital and emotional intelligence as moderating variables towards expatriate’s adjustment and performance. To do so we blend idea...

  8. How do government reforms influence the establishment of private limited companies in Sweden?

    OpenAIRE

    Patel, Ibrahim; Thörn, Simon

    2012-01-01

    Background: This study focuses on three reforms which the Swedish government have performed: The abolishment of the audit requirement, the reduction of the legal capital requirement, and the reduction of the employment taxes. What effect have they had on the establishment of private limited companies? Purpose: The purpose of this dissertation is to explain the influence government reforms have on the establishment and re-establishment of private limited companies inSweden. Method: An explanat...

  9. Banks’ Capital and Liquidity Creation

    OpenAIRE

    Horváth, Roman; Seidler, Jakub; Weill, Laurent

    2012-01-01

    This paper examines the relation between banks’ capital and liquidity creation. This issue is of interest to determine the potential impact of higher capital requirements for banks on their liquidity creation, which may have particular importance with new Basel III reform demanding from banks higher capital. We perform Granger-causality tests in a dynamic GMM panel estimator framework on an exhaustive dataset of Czech banks from 2000 to 2010.

  10. Legal capital: an outdated concept

    OpenAIRE

    John Armour

    2006-01-01

    This paper reviews the case for and against mandatory legal capital rules. It is argued that legal capital is no longer an appropriate means of safeguarding creditors' interests. This is most clearly the case as regards mandatory rules. Moreover, it is suggested that even an 'opt in' (or default) legal capital regime is unlikely to be a useful mechanism. However, the advent of regulatory arbitrage in European corporate law will provide a way of gathering information regarding investors' prefe...

  11. Corporate taxation and capital accumulation

    OpenAIRE

    Stephen Bond; Jing Xing

    2010-01-01

    We present new empirical evidence that aggregate capital accumulation is strongly influenced by the user cost of capital and, in particular, by corporate tax incentives summarised in the tax-adjusted user cost. We use sectoral panel data for the USA, Japan, Australia and ten EU countries over the period 1982-2007. Our panel combines data on capital stocks, value-added and relative prices from the EU KLEMS database with measures of effective corporate tax rates from the Oxford University Centr...

  12. Public funding and private investment for R&D: a survey in China's pharmaceutical industry.

    Science.gov (United States)

    Qiu, Lan; Chen, Zi-Ya; Lu, Deng-Yu; Hu, Hao; Wang, Yi-Tao

    2014-06-13

    In recent years, China has experienced tremendous growth in its pharmaceutical industry. Both the Chinese government and private investors are motivated to invest into pharmaceutical research and development (R&D). However, studies regarding the different behaviors of public and private investment in pharmaceutical R&D are scarce. Therefore, this paper aims to investigate the current situation of public funding and private investment into Chinese pharmaceutical R&D. The primary data used in the research were obtained from the China High-tech Industry Statistics Yearbook (2002-2012) and China Statistical Yearbook of Science and Technology (2002-2012). We analyzed public funding and private investment in five aspects: total investment in the industry, funding sources of the whole industry, differences between provinces, difference in subsectors, and private equity/venture capital investment. The vast majority of R&D investment was from private sources. There is a significantly positive correlation between public funding and private investment in different provinces of China. However, public funding was likely to be invested into less developed provinces with abundant natural herbal resources. Compared with the chemical medicine subsector, traditional Chinese medicine and biopharmaceutical subsectors obtained more public funding. Further, the effect of the government was focused on private equity and venture capital investment although private fund is the mainstream of this type of investment. Public funding and private investment play different but complementary roles in pharmaceutical R&D in China. While being less than private investment, public funding shows its significance in R&D investment. With rapid growth of the industry, the pharmaceutical R&D investment in China is expected to increase steadily from both public and private sources.

  13. You have more capital than you think.

    Science.gov (United States)

    Merton, Robert C

    2005-11-01

    Senior executives typically delegate the responsibility for managing a firm's derivatives portfolio to in-house financial experts and the company's financial advisers. That's a strategic blunder, argues this Nobel laureate, because the inventiveness of modern financial markets makes it possible for companies to double or even triple their capacity to invest in their strategic assets and competencies. Risks fall into two categories: either a company adds value by assuming them on behalf of its shareholders or it does not. By hedging or insuring against non-value-adding risks with derivative securities and contracts, thereby removing them from what the author calls the risk balance sheet, managers can release equity capital for assuming more value-adding risk. This is not just a theoretical possibility. One innovation-the interest rate swap, introduced about 20 years ago-has already enabled the banking industry to dramatically increase its capacity for adding value to each dollar of invested equity capital. With the range of derivative instruments growing, there is no reason why other companies could not similarly remove strategic risks, potentially creating billions of dollars in shareholder value. The possibilities are especially important for private companies that have no access to public equity markets and therefore cannot easily increase their equity capital by issuing more shares. The author describes how derivative contracts of various kinds are already being employed strategically to mitigate or eliminate various risks. He also shows how companies can use the risk balance sheet to identify risks they should not bear directly and to determine how much equity capacity they can release for assuming more value-adding risk.

  14. Game innovation through conceptual blending

    DEFF Research Database (Denmark)

    Möring, Sebastian Martin

    In  this  paper  I  wish  to  apply implications of  the  Conceptual  Blending  Theory  to  computer  games.  I  will  analyze  chosen  examples  and  discuss  them  as  a  result  of  video  game  innovation  made  possible  through  "conceptual  blending."  Conceptual  blending  links  at  least.......,  Hell.  The  purpose  of  my  approach  is  not  so  much  to  validate  the  ideas  of  conceptual  blending  theory  through  another  field  of  examples  (computer  games)  but  to  name  and analyze characteristics of the mentioned games with the  help of a given method.......  integration  network  consisting  of  at  least  two  input  spaces,  a  generic  space  and  a  blended  space  as  well  as  its  governing  principles  consisting  of  composition,  completion,  and  elaboration.  With  the  help  of  these  instruments  I  analyze computer  games like  Tuper  Tario  Tros...

  15. Exploring the social capital grid

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Patulny, Roger

    2007-01-01

    The purpose of this paper is to show that numerous studies have advanced social capital research over the past decade. Most studies have accepted the theoretical distinction between bonding and bridging social capital networks. Many, however, tend to agglomerate empirical research under the one...... catch-all social capital concept, rather than classifying it according to the bonding/bridging distinction. Furthermore, most studies make little distinction on the basis of methodology, between qualitative and quantitative approaches to investigating social capital. These omissions need to be addressed....

  16. BLENDED LEARNING STRATEGY IN TEACHER TRAINING PROGRAMS

    Directory of Open Access Journals (Sweden)

    Marian F. Byrka

    2017-12-01

    Full Text Available The article examines the implementation of blended learning strategy in teacher training programs as an innovation in online learning. The blended learning idea comes from blending elements which use online technology with more traditional face-to-face teaching in the same course. The article analyses teacher training programs offered by Chernivtsi Regional Institute of Postgraduate Pedagogical Education. Additional data were gathered through a questionnaire administered to teachers who attended training courses. The characteristics of blended learning strategy, its benefits and limitations for teacher training are supported by a review of literature. The article closes with the comparison of curriculum components (content delivery, learner activities, materials, and required competences between traditional and blended learning teacher training programs. Having obvious benefits in teacher training programs, the implementation of blended learning strategy sets some additional requirements to a learner, as well as to course instructors and lectors.

  17. Correspondence Theory and Phonological Blending in French

    Directory of Open Access Journals (Sweden)

    Lee Scott

    2014-07-01

    Full Text Available Though less productive than rival word-formation processes like compounding and affixation, blending is still a rich source of neologisms in French. Despite this productivity, however, blends are often seen by scholars as unpredictable, uninteresting, or both. This analysis picks up where recent studies of blending have left off, using Correspondence Theory and a bundle of segmental constraints to deal with this phenomenon as it pertains to French. More specifically, it shows that blending is the result of a single output standing in correspondence with two or more other outputs, and that we do not need to refer to prosodic information, which is crucial in accounts of blending in languages with lexical stress like English, to account for the process in French. The analysis also differs from previous studies in that it locates blending exclusively within the phonology, leaving its morphological and semantic characteristics to be handled by other processes in the grammar.

  18. Valuing Private Equity

    DEFF Research Database (Denmark)

    Sørensen, Morten; Wang, Neng; Yang, Jinqiang

    2014-01-01

    We investigate whether the performance of private equity (PE) investments is sufficient to compensate investors (LPs) for risk, long-term illiquidity, management, and incentive fees charged by the general partner (GP).We analyze the LPs’ portfolio-choice problem and find that management fees, car....... On average, LPs may just break even, net of management fees, carry, risk, and costs of illiquidity.......We investigate whether the performance of private equity (PE) investments is sufficient to compensate investors (LPs) for risk, long-term illiquidity, management, and incentive fees charged by the general partner (GP).We analyze the LPs’ portfolio-choice problem and find that management fees......, carried interest, and illiquidity are costly, and GPs must generate substantial alpha to compensate LPs for bearing these costs. Debt is cheap and reduces these costs, potentially explaining the high leverage of buyout transactions. Conventional interpretations of PE performance measures appear optimistic...

  19. Evaporation characteristics of ETBE-blended gasoline

    International Nuclear Information System (INIS)

    Okamoto, Katsuhiro; Hiramatsu, Muneyuki; Hino, Tomonori; Otake, Takuma; Okamoto, Takashi; Miyamoto, Hiroki; Honma, Masakatsu; Watanabe, Norimichi

    2015-01-01

    Highlights: • We chose 8-component hydrocarbon mixture as a model gasoline, and defined the molar mass of gasoline. • We proposed an evaporation model assuming a 2-component mixture of gasoline and ETBE. • We predicted the change in the vapor pressure of ETBE-blended gasoline by evaporation. • The vapor pressures were measured and compared as a means of verifying the model. • We presented the method for predicting flash points of the ETBE-blended gasoline. - Abstract: To reduce greenhouse gas emissions, which contribute to global warming, production of gasoline blended with ethyl tert-buthyl ether (ETBE) is increasing annually. The flash point of ETBE is higher than that of gasoline, and blending ETBE into gasoline will change the flash point and the vapor pressure. Therefore, it is expected that the fire hazard caused by ETBE-blended gasoline would differ from that caused by normal gasoline. The aim of this study was to acquire the knowledge required for estimating the fire hazard of ETBE-blended gasoline. Supposing that ETBE-blended gasoline was a two-component mixture of gasoline and ETBE, we developed a prediction model that describes the vapor pressure and flash point of ETBE-blended gasoline in an arbitrary ETBE blending ratio. We chose 8-component hydrocarbon mixture as a model gasoline, and defined the relation between molar mass of gasoline and mass loss fraction. We measured the changes in the vapor pressure and flash point of gasoline by blending ETBE and evaporation, and compared the predicted values with the measured values in order to verify the prediction model. The calculated values of vapor pressures and flash points corresponded well to the measured values. Thus, we confirmed that the change in the evaporation characteristics of ETBE-blended gasoline by evaporation could be predicted by the proposed model. Furthermore, the vapor pressure constants of ETBE-blended gasoline were obtained by the model, and then the distillation curves were

  20. Evaporation characteristics of ETBE-blended gasoline

    Energy Technology Data Exchange (ETDEWEB)

    Okamoto, Katsuhiro, E-mail: okamoto@nrips.go.jp [National Research Institute of Police Science, 6-3-1 Kashiwanoha, Kashiwa, Chiba 277-0882 (Japan); Hiramatsu, Muneyuki [Yamanashi Prefectural Police H.Q., 312-4 Kubonakajima, Isawa-cho, Usui, Yamanashi 406-0036 (Japan); Hino, Tomonori; Otake, Takuma [Metropolitan Police Department, 2-1-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8929 (Japan); Okamoto, Takashi; Miyamoto, Hiroki; Honma, Masakatsu; Watanabe, Norimichi [National Research Institute of Police Science, 6-3-1 Kashiwanoha, Kashiwa, Chiba 277-0882 (Japan)

    2015-04-28

    Highlights: • We chose 8-component hydrocarbon mixture as a model gasoline, and defined the molar mass of gasoline. • We proposed an evaporation model assuming a 2-component mixture of gasoline and ETBE. • We predicted the change in the vapor pressure of ETBE-blended gasoline by evaporation. • The vapor pressures were measured and compared as a means of verifying the model. • We presented the method for predicting flash points of the ETBE-blended gasoline. - Abstract: To reduce greenhouse gas emissions, which contribute to global warming, production of gasoline blended with ethyl tert-buthyl ether (ETBE) is increasing annually. The flash point of ETBE is higher than that of gasoline, and blending ETBE into gasoline will change the flash point and the vapor pressure. Therefore, it is expected that the fire hazard caused by ETBE-blended gasoline would differ from that caused by normal gasoline. The aim of this study was to acquire the knowledge required for estimating the fire hazard of ETBE-blended gasoline. Supposing that ETBE-blended gasoline was a two-component mixture of gasoline and ETBE, we developed a prediction model that describes the vapor pressure and flash point of ETBE-blended gasoline in an arbitrary ETBE blending ratio. We chose 8-component hydrocarbon mixture as a model gasoline, and defined the relation between molar mass of gasoline and mass loss fraction. We measured the changes in the vapor pressure and flash point of gasoline by blending ETBE and evaporation, and compared the predicted values with the measured values in order to verify the prediction model. The calculated values of vapor pressures and flash points corresponded well to the measured values. Thus, we confirmed that the change in the evaporation characteristics of ETBE-blended gasoline by evaporation could be predicted by the proposed model. Furthermore, the vapor pressure constants of ETBE-blended gasoline were obtained by the model, and then the distillation curves were

  1. Privatized multipurpose reactor initiative

    International Nuclear Information System (INIS)

    Davis, G.A.

    1995-01-01

    ABB Combustion Engineering (ABB CE) and seven other companies have submitted a plan to the DOE for deploying a multipurpose reactor at the Savannah River Plant. The facility would consume excess plutonium as fuel, irradiate tritium producing targets, and generate electricity. The plan proposes to establish a consortium that would privately finance and own two System 80+ nuclear units and a mixed oxide fuel fabrication facility

  2. Privatized Military Operations

    Science.gov (United States)

    2006-01-01

    environment such as that in Abu Grahib prison , where military personnel tasked with similar duties to that of contractors have been held legally accountable... Grahib Prison . The Washington Post. Office of Management and Budget Circular A-76. (August 4, 1988. Revised 1999). Performance of Commercial...downsizes the military after the Global War on Terror as it did after the Cold War. Private contractors depend largely upon former service members to

  3. Agriculture and private sector

    DEFF Research Database (Denmark)

    Sahin, Sila; Prowse, Martin Philip; Weigh, Nadia

    and this looks set to remain for the next two decades at least. The agriculture and growth evidence paper series has been developed to cover a range of issues that are of most relevance to DFID staff. The paper is not intended to be a comprehensive overview of all issues relating to agriculture and the private...... sector. It concentrates on those areas that are of particular focus for DFID policy and strategy....

  4. Privatize Candu (question mark)

    International Nuclear Information System (INIS)

    Kelly, Thomas.

    1981-01-01

    A report sponsored by a group of nuclear suppliers and the Royal Bank suggested that the Candu reactor system would sell better if it were owned by a private company. Licensing of a Candu reactor in the U.S.A. was also suggested. The author of this article agrees with these points, but disagrees with the suggestion that safeguards should be relaxed. He suggests that contracts should stipulate that instrumentation should be supplied as much as possible from Canadian sources

  5. Apaches push privatization

    International Nuclear Information System (INIS)

    Daniels, S.

    1994-01-01

    Trying to drum up business for what would be the first private temporary storage facility for spent nuclear fuel rods, the Mescalero Apaches are inviting officials of 30 utilities to convene March 10 at the tribe's New Mexico reservation. The state public utilities commission will also attend the meeting, which grew from an agreement the tribe signed last month with Minneapolis-based Northern States Power Co

  6. Public-Private Partnerships

    DEFF Research Database (Denmark)

    Lehmann, Martin; Jeppesen, S.

    2006-01-01

    Public-private partnerships in the environmental field have emerged as one option in the pursuit of sustainable development. So-called ‘Green Networks’, ‘Cleaner Production Centres’, ‘Waste Minimisation Clubs’ are among others highlighted as alternatives to governmental regulation. While being...... these initiatives in an institutional framework and suggest how the experiences can be understood in their own rights....

  7. Virtual private network (VPN)

    International Nuclear Information System (INIS)

    Caskey, Susan

    2006-01-01

    A virtual private network (VPN) is the essential security feature that allows remote monitoring systems to take advantage of the low communications cost of the internet. This paper introduces the VPN concept and summarizes the networking and security principles. The mechanics of security, for example, types of encryption and protocols for exchange of keys between partners, are explained. Important issues for partners in different countries include the interoperability and mutual accreditations of systems. (author)

  8. Financial Private Regulation and Enforcement

    OpenAIRE

    MILLER, Geoffrey

    2011-01-01

    This paper has been delivered within the context of the research project "Transnational Private Regulatory Regimes: Constitutional foundations and governance design". This paper considers the topic of private regulation and enforcement for internationally active financial services firms. The paper documents the following types of regulation and enforcement that involve significant private input: house rules, contracts, internal compliance, management-based regulation, private standard-sett...

  9. THE CAPITAL STRUCTURE OF VENTURE CAPITAL FIRMS IN INDONESIA

    Directory of Open Access Journals (Sweden)

    Andi Buchari

    2016-10-01

    Full Text Available Venture capital (VC is an important fund source for small and medium enterprises (SMEs and start up, particularly to deliver its main product of equity participation. Therefore, capital structure and factors that affect it are very crucial. This study aims to analyze the capital structure of VC firms in Indonesia using econometric model of panel data regression. This study utilizes secondary data of six years period (2009-2014 monthly financial statements of 27 samples out of 58 VC firms to form 1,944 observations. The study reveals that capital structure of VC firms in Indonesia is dominated by debt/loan rather than capital with DER on average is 136.95%. In addition, the research confirms that VC firms’ capital structure is affected simultaneously by financial aspects which are asset size, profitability, liquidity, asset/investment quality, and earning asset structure. The attentions to financial aspects that affect the VC firms’ capital structure as well as other initiatives related to capital increases are necessary so that the VC firms could carry out its role effectively.

  10. Mechanical properties of irradiated rubber-blends

    International Nuclear Information System (INIS)

    Nasr, G.M.; Madani, M.

    2005-01-01

    A study has been made on blend ratios of natural rubber (NR) and acrylonitrile butadiene rubber (NBR) that are loaded with general purpose furnace (GPE) carbon black and irradiated at different gamma radiation doses. It was fount that the mechanical properties of such blend are highly affected by γ- irradiation dose and the composition ratios of its constituents. The elongation at break for blends was found to increase slightly with increasing NBR loafing which is mainly due to the stiffness of blending matrix formation between NR and GPF carbon black particles. The hysteresis loss, extension ratio and shape factor have been calculated for the different un-irradiated and irradiated samples

  11. THE COMBUSTION CHARACTERISTICS OF LIGNITE BLENDS

    Institute of Scientific and Technical Information of China (English)

    Cheng Jun; Zhou Junhu; Cao Xinyu; Cen Kefa

    2000-01-01

    The combustion characteristics of lignite blends were studied with a thermogravimetric analyzer (t.g.a.), at constant heating rate.The characteristic temperatures were determined from the burning profiles.It was found that the characteristic times of combustion reaction moved forward, the ignition temperature dropped and the burnout efficiency slightly changed when blending lignites.The characteristic parameters of blends could not be predicted as a linear function of the average values of the individual lignites.when blending with less reactive coal, the ignition and burnout characteristics of lignite turned worse.

  12. From Social to Private Ownership

    DEFF Research Database (Denmark)

    Gregoric, Aleksandra; Masten, Arjana Brezigar; Zajc, Katarina

    2011-01-01

    of the multiple blockholder structures that these firms were assigned at privatization. We observe significant path dependence: patterns of ownership and control are in part determined by the persistence of the initial privatization owners (state funds, privatization investment funds, employees, and managers...

  13. Design Principles for the Blend in Blended Learning: A Collective Case Study

    Science.gov (United States)

    Lai, Ming; Lam, Kwok Man; Lim, Cher Ping

    2016-01-01

    This paper reports on a collective case study of three blended courses taught by different instructors in a higher education institution, with the purpose of identifying the different types of blend and how the blend supports student learning. Based on the instructors' and students' interviews, and document analysis of course outlines, two major…

  14. 47 CFR 65.304 - Capital structure.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Capital structure. 65.304 Section 65.304... OF RETURN PRESCRIPTION PROCEDURES AND METHODOLOGIES Exchange Carriers § 65.304 Capital structure. The proportion of each cost of capital component in the capital structure is equal to: Proportion in the capital...

  15. Private political archives

    Directory of Open Access Journals (Sweden)

    Waldemar Chorążyczewski

    2010-12-01

    Full Text Available "Private political archives" are understood by me as all acts collected intently by a private person. These acts are connected with the person's participation in political life and gathered in order to be used in public activity as the source of argumentation and information about factors and mechanisms of political processes. Private political archives of the first half of the XVI century were mainly created by royal servants, often with reference to their job duties. These duties could inspire to collect political acts for private purposes. During the reign of Sigismund Augustus, archives of gentry activists were developed to small extent and they mainly focused on parliamentary life. Private political archives were created outside the executionist movement, namely in the community gathered around the royal court. After 1572, Crown and Lithuanian magnates greatly influenced the creation of political archives. Archives of lesser gentry, scarce and poor, did not disappear completely. However, they became difficult for identification. Therefore, developmental process concerned exclusively documentary "treasure troves" created by magnates. They had the financial means and possibilities to create truly valuable political archives. The same as in the previous period the dynamisms of executionist movement was reflected in political archival documentation, now the creation of patronage system and clientele, or traditionally understood magnate oligarchy, (depending on the point of view corresponded best to archives development. The heritage of previous generations was the treasure trove of patterns and solutions. However, this trove was used selectively, on one hand giving up patterns and rights that were uncomfortable, and, on the other, giving the value of precedence to unexpected acts that gained more importance or even new content in changed political conditions. The application of interpretation principle raised interest in old acts and patterns

  16. The Effect of Private Brands on Business Performance in Retail

    Directory of Open Access Journals (Sweden)

    Radojko LUKIĆ

    2011-06-01

    Full Text Available In the length of time many new retail features were developed, as a part of the total value chain (from manufacturer to customer. One such feature is: the development of private brands (private-label merchandise, private-label brands, store brands, house brands, own brands. Because of economic importance, both in theory and in practice, more complex stress was put on its research from various perspectives: the individual countries and regions - geographic, retail companies and formats (types of stores, product categories, as well as from the perspective of the perception of customers / consumers. In the context of it, special empirical emphasis was placed on the effects of private brands on business performance in retail, in particular, on cost, gross margin, profit, in other words, on profit indicators, such as: rate of profits from sales, profit rate of assets and the rate of profit of the share capital. Having such starting point, this paper attempts to, as thoroughly as it can, primarily empirically, investigate the impact of the development of private brands in the retail business performance. Using the latest available relevant data gathered from various scientific and professional sources, including well-known agencies that primarily conduct empirical analysis of private brands in some countries, companies and retail formats and product categories. The results should serve as a reliable basis for creating the most efficient strategy for managing the development of private brands in order to improve business performance in retail. This is especially true of the so-called "emerging market" private brands, as it is the case with Serbia.

  17. Culture as Capital

    DEFF Research Database (Denmark)

    Kacunko, Slavko

    essays, Slavko Kacunko discusses the process art by crossing the disciplines of art history and comparative media-, visual- and -cultural studies. As a first approximation, several historiographical remarks on closed-circuit video installations underline their importance as a core category of process art......A collection of essays 2011-2014 By following, and reproducing, the cultural turn, the rhetoric of cultural mix and hybridism is disseminated today primarily in its crossing of trade barriers. Cultures reduced to their exchange value function as capital - an accumulative, speculative and....... In the second part, the problems of process art, seen as a threshold of art history, are further examined in another retroanalytical step, in which concepts and objects related to `mirror', `frame' and `immediacy' are analyzed as the triple delimitation of visual culture studies. In the third part, previously...

  18. Veja a Carta Capital

    OpenAIRE

    Iuan, Igor

    2014-01-01

    Resumo: Este estudo consiste numa análise das estratégias ideológicas e discursivas em reportagens das revistas Veja e Carta Capital, publicadas em maio de 2009, sobre a revelação do câncer da então ministra-chefe da Casa Civil do Brasil, Dilma Rousseff. O objetivo é investigar como a comunicação, por meio das estratégias discursivas e ideológicas utilizadas em ambos os veículos informativos, emite determinadas descrições da conjuntura política e eleitoral da época. Para isto, são realizados ...

  19. A successful capital treadmill

    International Nuclear Information System (INIS)

    Bohun, D.A.

    1995-01-01

    A summary of the operating economics of the Winter Cummings Sand Pool, a horizontal well development project with a sustained rate of development, was presented. A total of 58 horizontal wells have been drilled over a time span of seven years. The production performance of the first pilot wells indicated that development of the pool by horizontal wells could be economically viable. Since its inception the Winter field development was considered to have become a capital treadmill with an incremental rate of return on the incremental investment of 240 percent (a 24 million dollar net operating cash flow for a 10 million dollar investment). Current development status and production forecasts were also discussed. 21 figs

  20. Culture as Capital

    DEFF Research Database (Denmark)

    Kacunko, Slavko

    A collection of essays 2011-2014 By following, and reproducing, the cultural turn, the rhetoric of cultural mix and hybridism is disseminated today primarily in its crossing of trade barriers. Cultures reduced to their exchange value function as capital - an accumulative, speculative and...... essays, Slavko Kacunko discusses the process art by crossing the disciplines of art history and comparative media-, visual- and -cultural studies. As a first approximation, several historiographical remarks on closed-circuit video installations underline their importance as a core category of process art....... In the second part, the problems of process art, seen as a threshold of art history, are further examined in another retroanalytical step, in which concepts and objects related to `mirror', `frame' and `immediacy' are analyzed as the triple delimitation of visual culture studies. In the third part, previously...

  1. International venture capital perspective

    International Nuclear Information System (INIS)

    Carter, D.

    2004-01-01

    'Full text:' The emerging fuel cell industry is characterized by global cooperation and partnerships in commercial, technical, and financial aspects. In this talk, we would like to provide observations about international venture capital focused on fuel cells globally. The talk will refer to experiences Conduit Ventures has had with its portfolio companies and other investors in various countries. We discuss our approach to working with portfolio companies who are geographically remote from our main office in London. We also discuss the process of making investment decisions on possible investments in various countries. The talk will conclude with insights and 'lessons learned' which may be of interest to fellow members of Fuel Cells Canada. (author)

  2. A Capital Adequacy Buffer Model

    NARCIS (Netherlands)

    D.E. Allen (David); M.J. McAleer (Michael); R.J. Powell (Robert); A.K. Singh (Abhay)

    2013-01-01

    markdownabstract__Abstract__ In this paper, we develop a new capital adequacy buffer model (CABM) which is sensitive to dynamic economic circumstances. The model, which measures additional bank capital required to compensate for fluctuating credit risk, is a novel combination of the Merton

  3. Schools, Social Capital and Space

    Science.gov (United States)

    Allan, Julie; Catts, Ralph

    2014-01-01

    This paper reports on the significance of social capital in relation to education, exploring its relevance to teachers and other professionals as well as among young people. It draws on aspects of five case studies undertaken by the Schools and Social Capital Network, within the Applied Educational Research Scheme in Scotland. These case studies…

  4. Social Capital and Savings Behavior

    DEFF Research Database (Denmark)

    Newman, Carol; Tarp, Finn; Khai, Luu Duc

    In this paper, we analyze household savings in rural Vietnam paying particular attention to the factors that determine the proportion of savings held as formal deposits. Our aim is to explore the extent to which social capital can play a role in promoting formal savings behavior. Social capital...

  5. Capital intelectual no varejo brasileiro

    OpenAIRE

    Edelweiss, Danila Lorens

    2010-01-01

    Através de uma pesquisa realizada com empresas rio setor de varejo, é realizada uma análise do conjunto de indicadores de capital intelectual com o objetivo de buscar evidências que empresas que apresentam melhores indicadores de capital intelectual, também apresentam melhores resultados financeiros.

  6. Venture Capital and Innovation Strategies

    NARCIS (Netherlands)

    Da Rin, M.; Penas, M.F.

    2015-01-01

    Venture capital is a specialized form of financial intermediation that often provides funding for costly technological innovation. Venture capital firms need to exit portfolio companies within about five years from the investment to generate returns for institutional investors. This paper is the

  7. Universities Venture into Venture Capitalism.

    Science.gov (United States)

    Desruisseaux, Paul

    2000-01-01

    Reports that some universities are starting their own venture-capital funds to develop campus companies, or are investing endowment funds with established venture-capital firms inclined to finance potential spinoffs from campus research. Examples cited are from the University of Alabama, Vanderbilt University (Tennessee), University of…

  8. Capital flight and political risk

    NARCIS (Netherlands)

    Lensink, R; Hermes, N; Murinde, [No Value

    This paper provides the first serious attempt to examine the relationship between political risk and capital flight for a large set of developing countries. The outcomes of the analysis show that in most cases political risk variables do have a statistically robust relationship to capital flight

  9. Avascular Necrosis of the Capitate

    OpenAIRE

    Bekele, Wosen; Escobedo, Eva; Allen, Robert

    2011-01-01

    Avascular necrosis of the capitate is a rare entity. The most common reported etiology is trauma. We report a case of avascular necrosis of the capitate in a patient with chronic wrist pain that began after a single episode of remote trauma.

  10. Avascular Necrosis of the Capitate

    Science.gov (United States)

    Bekele, Wosen; Escobedo, Eva; Allen, Robert

    2011-01-01

    Avascular necrosis of the capitate is a rare entity. The most common reported etiology is trauma. We report a case of avascular necrosis of the capitate in a patient with chronic wrist pain that began after a single episode of remote trauma. PMID:22470799

  11. INSTITUTE OF THE STATE-PRIVATE PARTNERSHIP IN THE SPHERE OF THE STATE PURCHASES: PROBLEMS AND PROSPECTS OF DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    A. Sh. Subkhonberdiev

    2015-01-01

    Full Text Available Close cooperation between public and private property within the boundaries of a single firm (mixed company or within various forms of public-private partnerships is a characteristic tendency of modern innovative economy. The term covers a wide range of partnerships from simple contracts with private entrepreneurs in the production of goods, works, the provision of services to large projects needed in the areas where privatization is not possible, but there is a need in private investment. State, attracting private capital to financing of capital-intensive, long payback, but important for innovative economic development projects, does not lose control over them, and the private business gets access to previously closed sectors of the economy, such as transport infr astructure, housing and communal services, bringing with it new efficient technology management. Now there is no single approach to defining the nature and content of the concepts in the economic and legal literature presented different points of view, institutional problems of public-private partnership actively discussed by scientists and practitioners. Analysis of international experience projects shows that the specific features of and peculiarities of the institute of public-private partnership determined by the historical, social and economic characteristics development of each country. In turn, the institutional system public procurement is formed depending on the current in them budgetary and legislative system. Because of the historical development United States, perhaps on other developed countries advanced in the organization system of partnership between the state and private business, based solely on market principles.

  12. A Phenomenology of Capital

    Directory of Open Access Journals (Sweden)

    Christian Schmidt

    2017-02-01

    Full Text Available O artigo aborda a questão da metodologia que Marx utilizou em O Capital. A hipótese é que Marx utiliza a Fenomenologia do Espírito de Hegel como paradigma, em vez da Ciência da Lógica, como se acredita. O argumento discerne a fenomenologia do século 19 a partir da compreensão atual, moldada por Husserl. Além disso, eu remeto a ideia de uma fenomenologia em economia de volta ao círculo dos jovens hegelianos em torno de Proudhon. No entanto, o argumento é conclusivo apenas por um olhar mais atento ao uso que Hegel e Marx fazem dos níveis distintos de abstração dentro de suas respectivas exposições. O artigo demonstra especialmente os paralelos no início de ambos os livros e a forma como os seus autores avançam de um nível para o outro. Em contraste com as abordagens atuais que empregam a Ciência da Lógica como paradigma, eu saliento a especificidade que os objetos de investigação exibem em seus níveis particulares de abstração. Exemplos são a diferença de valores e preços de mercado e a discriminação entre capitais em geral e capital como um de muitos capitais em competição.

  13. An Empirical Analysis of Incremental Capital Structure Decisions Under Managerial Entrenchment

    NARCIS (Netherlands)

    de Jong, A.; Veld, C.H.

    1998-01-01

    We study incremental capital structure decisions of Dutch companies. From 1977 to 1996 these companies have made 110 issues of public and private seasoned equity and 137 public issues of straight debt. Managers of Dutch companies are entrenched. For this reason a discrepancy exists between

  14. What do we know about the capital structure of small firms?

    Czech Academy of Sciences Publication Activity Database

    Joeveer, Karin

    -, č. 283 (2005), s. 1-38 ISSN 1211-3298 Institutional research plan: CEZ:AV0Z70850503 Keywords : capital structure * publicly traded and privately hold companies * Europe Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp283.pdf

  15. Oklahoma Aerospace Intellectual Capital/Educational Recommendations: An Inquiry of Oklahoma Aerospace Executives

    Science.gov (United States)

    Nelson, Erin M.

    2010-01-01

    Scope and Method of Study: The purpose of this qualitative study was to conduct detailed personal interviews with aerospace industry executives/managers from both the private and military sectors from across Oklahoma to determine their perceptions of intellectual capital needs of the industry. Interviews with industry executives regarding…

  16. Social capital and localised learning

    DEFF Research Database (Denmark)

    Lorenzen, Mark

    2007-01-01

      This conceptual paper analyses why social capital is important for learning and economic development, how it is created and its geography. It argues that with the rise of globalisation and learning-based competition, social capital is becoming valuable because it organises markets, lowering...... business firms' costs of co-ordinating and allowing them flexibly to connect and reconnect. The paper defines social capital as a matrix of various social relations, combined with particular normative and cognitive social institutions that facilitate co-operation and reciprocity, and suggests that social...... capital is formed at spatial scales lower than the national or international, because the density of matrices of social relations increases with proximity. The paper also offers a discussion of how national and regional policies may be suited for promoting social capital....

  17. Measuring social capital: further insights.

    Science.gov (United States)

    Carrillo Álvarez, Elena; Riera Romaní, Jordi

    Social capital is defined as the resources available to individuals and groups through membership in social networks. However, multiple definitions, distinct dimensions and subtypes of social capital have been used to investigate and theorise about its relationship to health on different scales, creating a confusing picture. This heterogeneity makes it necessary to systematise social capital measures in order to build a stronger foundation in terms of how these associations between the different aspects of social capital and each specific health indicator develop. We aim to provide an overview of the measurement approaches used to measure social capital in its different dimensions and scales, as well as the mechanisms through which it is presumed to influence health. Understanding the mechanisms through which these relationships develop may help to refine the existing measures or to identify new, more appropriate ones. Copyright © 2016 SESPAS. Publicado por Elsevier España, S.L.U. All rights reserved.

  18. Individual social capital and survival

    DEFF Research Database (Denmark)

    Ejlskov, Linda; Mortensen, Rikke N; Overgaard, Charlotte

    2014-01-01

    BACKGROUND: The concept of social capital has received increasing attention as a determinant of population survival, but its significance is uncertain. We examined the importance of social capital on survival in a population study while focusing on gender differences. METHODS: We used data from...... a Danish regional health survey with a five-year follow-up period, 2007-2012 (n = 9288, 53.5% men, 46.5% women). We investigated the association between social capital and all-cause mortality, performing separate analyses on a composite measure as well as four specific dimensions of social capital while...... controlling for covariates. Analyses were performed with Cox proportional hazard models by which hazard ratios and 95% confidence intervals were calculated. RESULTS: For women, higher levels of social capital were associated with lower all-cause mortality regardless of age, socioeconomic status, health...

  19. Human capital and career success

    DEFF Research Database (Denmark)

    Frederiksen, Anders; Kato, Takao

    capital formally through schooling for career success, as well as the gender gap in career success rates. Second, broadening the scope of human capital by experiencing various occupations (becoming a generalist) is found to be advantageous for career success. Third, initial human capital earned through......Denmark’s registry data provide accurate and complete career history data along with detailed personal characteristics (e.g., education, gender, work experience, tenure and others) for the population of Danish workers longitudinally. By using such data from 1992 to 2002, we provide rigorous...... formal schooling and subsequent human capital obtained informally on the job are found to be complements in the production of career success. Fourth, though there is a large body of the literature on the relationship between firm-specific human capital and wages, the relative value of firm-specific human...

  20. Human capital strategy: talent management.

    Science.gov (United States)

    Nagra, Michael

    2011-01-01

    Large organizations, including the US Army Medical Department and the Army Nurse Corps, are people-based organizations. Consequently, effective and efficient management of the human capital within these organizations is a strategic goal for the leadership. Over time, the Department of Defense has used many different systems and strategies to manage people throughout their service life-cycle. The current system in use is called Human Capital Management. In the near future, the Army's human capital will be managed based on skills, knowledge, and behaviors through various measurement tools. This article elaborates the human capital management strategy within the Army Nurse Corps, which identifies, develops, and implements key talent management strategies under the umbrella of the Corps' human capital goals. The talent management strategy solutions are aligned under the Nurse Corps business strategy captured by the 2008 Army Nurse Corps Campaign Plan, and are implemented within the context of the culture and core values of the organization.

  1. Sludge Stabilization Campaign blend plan

    International Nuclear Information System (INIS)

    De Vries, M.L.

    1994-01-01

    This sludge stabilization blend plan documents the material to be processed and the order of processing for the FY95 Sludge Stabilization Campaign. The primary mission of this process is to reduce the inventory of unstable plutonium bearing sludge. The source of the sludge is residual and glovebox floor sweepings from the production of material at the Plutonium Finishing Plant (PFP). The reactive sludge is currently being stored in various gloveboxes at PFP. There are two types of the plutonium bearing material that will be thermally stabilized in the muffle furnace: Plutonium Reclamation Facility (PRF) sludge and Remote Mechanical C (RMC) Line material

  2. The financial and accounting implications of the privatization of the regional electricity companies in the UK

    International Nuclear Information System (INIS)

    Thomson, L.

    1993-01-01

    This paper reviews some of the financial and accounting implications of the privatization of the electricity distribution and supply sector in England and Wales, specifically the transformation of the Electricity Area Boards into the 12 Regional Electricity Companies (RECs). It considers the factors influencing the setting of post-privatization price control factors; the capital restructuring of the RECs; the valuation placed by the Secretary of State for Energy on each company at flotation, and market reaction to this as shown in subsequent changes in share price; and changes in the information provided in the RECs' accounts over the privatization period. (Author)

  3. Privatization an a national business

    Directory of Open Access Journals (Sweden)

    Andrzej Tokarski

    2009-12-01

    Full Text Available Privatization is a very complicated process that builds a market economy. It entails numerous problems, the overcoming of which depends on the pace and scale of privatization in a particular country. The privatization process of the Polish economy is assessed differently, and still raises a lot of controversy and debate, not only for the economy, but also politics. This is particularly the privatization of state assets. Privatization was one of the foundations for political transformation in Poland and other Central- and Eastern European countries. Some say that was a great success, while for others it was a field for plunder and affairs. Who is right? Is privatization a success or a failure? This paper aims to present the arguments posed by both supporters and opponents of the privatization in Poland.

  4. Sand in the Wheels of Capitalism

    DEFF Research Database (Denmark)

    Bersem, Mario; Perotti, Enrico; von Thadden, Ernst-Ludwig

    We present a positive theory of capital market frictions that raise the cost of capital for new firms and lower the cost of capital for incumbent firms. Capital market frictions arise from a political conflict across voters who differ in two dimensions: (i) a fraction of voters owns capital......, the rest receives only lab or income; and (ii) voters have different vintages of human capital. We identify young workers as the decisive voter group, with preferences in between capitalists who favor a free capital market, and old workers, who favor restricted capital mobility. We show that capital market...... frictions do not naturally arise in a static framework, or even in a dynamic framework if capital market frictions are reversible. But if capital market frictions can be made to p ersist over time, we show that young workers favor capital market frictions as a way to smo oth income, especially if wealth...

  5. Mobile Virtual Private Networking

    Science.gov (United States)

    Pulkkis, Göran; Grahn, Kaj; Mårtens, Mathias; Mattsson, Jonny

    Mobile Virtual Private Networking (VPN) solutions based on the Internet Security Protocol (IPSec), Transport Layer Security/Secure Socket Layer (SSL/TLS), Secure Shell (SSH), 3G/GPRS cellular networks, Mobile IP, and the presently experimental Host Identity Protocol (HIP) are described, compared and evaluated. Mobile VPN solutions based on HIP are recommended for future networking because of superior processing efficiency and network capacity demand features. Mobile VPN implementation issues associated with the IP protocol versions IPv4 and IPv6 are also evaluated. Mobile VPN implementation experiences are presented and discussed.

  6. Private Sector Involvement

    DEFF Research Database (Denmark)

    Hansen, Annette Skovsted

    New and independent donors are adding their own twist to the experiences of receiving ODA and their examples are already inspiring the DAC, UN, and other multiple- and bilateral aid relationships. Rather than competition among development paradigms, I see negotiations of ideas of development and ...... and a co-existence of a multiplicity of approaches. I will argue that a trend of new and old actors inspiring each other will continue and the explicit focus on private sector development is just a first outcome....

  7. Private information retrieval

    CERN Document Server

    Yi, Xun; Bertino, Elisa

    2013-01-01

    This book deals with Private Information Retrieval (PIR), a technique allowing a user to retrieve an element from a server in possession of a database without revealing to the server which element is retrieved. PIR has been widely applied to protect the privacy of the user in querying a service provider on the Internet. For example, by PIR, one can query a location-based service provider about the nearest car park without revealing his location to the server.The first PIR approach was introduced by Chor, Goldreich, Kushilevitz and Sudan in 1995 in a multi-server setting, where the user retriev

  8. Fatores determinantes da estrutura de capital das maiores empresas que atuam no Brasil Determinant factors of capital structure for the largest companies active in Brazil

    Directory of Open Access Journals (Sweden)

    Giovani Antonio Silva Brito

    2007-04-01

    the financial statements of publicly traded and private companies. Multiple linear regression was applied as a statistical technique. The results indicate that risk, firm size, fixed assets and growth are determinants of the firms’ capital structure, while profitability is not a determinant factor. The results also show that the firms’ leverage is unaffected by whether a firm is publicly-traded or private.

  9. 78 FR 62017 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-10-11

    ... unlevel playing field between banking organizations and other financial services providers. For example, a... for banking organizations. The final rule consolidates three separate notices of proposed rulemaking... minimum capital requirement, a higher minimum tier 1 capital requirement, and, for banking organizations...

  10. Tax incentives and firm size : effects on private R&D investment in Spain

    NARCIS (Netherlands)

    Labeaga Azcona, J.; Martínez-Ros, E.; Mohnen, P.

    2014-01-01

    The use of fiscal policy instruments to stimulate private R&D is widespread and important in some countries like Spain. In this paper we explore the effectiveness of R&D tax incentives on knowledge capital accumulation in Spanish manufacturing firms using an unbalanced panel and compare the

  11. What do we know about private family firms? A meta-analytic review

    NARCIS (Netherlands)

    Carney, M.; van Essen, M.; Gedajlovic, E.; Heugens, P.P.M.A.R.

    2015-01-01

    The universe of family firms is heterogeneous, and findings gleaned from publicly listed firms may not apply to the ubiquitous, but less frequently studied, privately held family firm (PFF). As PFFs are insulated from capital market pressures, owner-managers have greater latitude in setting

  12. Linear polarizers based on oriented polymer blends

    NARCIS (Netherlands)

    Jagt, H.J.B.; Dirix, Y.J.L.; Hikmet, R.A.M.; Bastiaansen, C.W.M.

    1998-01-01

    Linear sheet polarizers based on the anisotropic scattering of light by drawn polymer blends are introduced here. The proper selection of materials and processing conditions for the production of large-area, flexible films of phase-segregated polymer blends suitable for polarization applications are

  13. Enhancing Students' Language Skills through Blended Learning

    Science.gov (United States)

    Banditvilai, Choosri

    2016-01-01

    This paper presents a case study of using blended learning to enhance students' language skills and learner autonomy in an Asian university environment. Blended learning represents an educational environment for much of the world where computers and the Internet are readily available. It combines self-study with valuable face-to-face interaction…

  14. Blended Learning in Personalized Assistive Learning Environments

    Science.gov (United States)

    Marinagi, Catherine; Skourlas, Christos

    2013-01-01

    In this paper, the special needs/requirements of disabled students and cost-benefits for applying blended learning in Personalized Educational Learning Environments (PELE) in Higher Education are studied. The authors describe how blended learning can form an attractive and helpful framework for assisting Deaf and Hard-of-Hearing (D-HH) students to…

  15. Improving Curriculum through Blended Learning Pedagogy

    Science.gov (United States)

    Darojat, Ojat

    2016-01-01

    This paper is a study of blended learning pedagogy in open and distance learning (ODL), involving two universities in Southeast Asia, STOU Thailand and UT Indonesia. The purpose of this study is to understand the issues related to the implementation of blended-learning pedagogy. Qualitative case study was employed to optimize my understanding of…

  16. Preparing Teachers for Emerging Blended Learning Environments

    Science.gov (United States)

    Oliver, Kevin M.; Stallings, Dallas T.

    2014-01-01

    Blended learning environments that merge learning strategies, resources, and modes have been implemented in higher education settings for nearly two decades, and research has identified many positive effects. More recently, K-12 traditional and charter schools have begun to experiment with blended learning, but to date, research on the effects of…

  17. Effect of noise in blending and deblending

    NARCIS (Netherlands)

    Berkhout, A.J.; Blacquière, G.

    2013-01-01

    If simultaneous shooting is carried out by incoherent source arrays, being the condition of blended acquisition, the deblending process generates shot records with a very low residual interference (blending noise). We found, theoretically and numerically, that deblended shot records had a better

  18. PAIRWISE BLENDING OF HIGH LEVEL WASTE

    International Nuclear Information System (INIS)

    CERTA, P.J.

    2006-01-01

    The primary objective of this study is to demonstrate a mission scenario that uses pairwise and incidental blending of high level waste (HLW) to reduce the total mass of HLW glass. Secondary objectives include understanding how recent refinements to the tank waste inventory and solubility assumptions affect the mass of HLW glass and how logistical constraints may affect the efficacy of HLW blending

  19. Multiscattering illumination in blended acquisition design

    NARCIS (Netherlands)

    Berkhout, A.J.; Blacquière, G.; Verschuur, D.J.

    2010-01-01

    In traditional seismic surveys the firing time between shots is such that the records do not interfere in time. However, in the concept of blending the records do overlap, allowing much denser and wider geometries in an economic way. The blending parameters are the locations of the involved sources

  20. Structuring of Interface-Modified Polymer Blends

    DEFF Research Database (Denmark)

    Lyngaae-Jørgensen, Jørgen

    1999-01-01

    The paper treats the case where blends of polystyrene (PS), poly (dimethylsiloxane) (PDMS) and a diblock copolymer of PS and PDMS are used as model materials. This modelsystem is predicted to be "stable" in discrete blends in simple shear flow. Stable in the sence that the block copolymer can not...

  1. Meeting Diverse Learner Needs with Blended Learning

    Science.gov (United States)

    Owen, Hazel

    2010-01-01

    This article describes a 40-week Computer, Research Skills, and Projects (CRSP) blended learning course designed and implemented at Dubai Men's College. The learning employed a design using socio-constructivist principles in the blended approach to cater to the learning preferences of students. (Contains 2 figures and 1 footnote.)

  2. Public and private science at home and abroad: networks among chemists, physicians and industrialists in the 1780s.

    Science.gov (United States)

    Levere, Trevor H

    2002-09-01

    The tensions between public and private science, so familiar to us today, were alive in the science of the industrial revolution. These tensions confronted the members of a society of chemists and natural philosophers, physicians, industrialists and instrument makers who met in London from 1780 to 1787. Their meetings, held in private rooms in coffee houses, provided an ideal forum for their blend of public and private science, reinforced by a vital international network of scientific intelligence. The records of those meetings tell us a good deal about communication among natural philosophers in the 1780s, and show that some, at least in Britain, were well-informed about the latest foreign developments.

  3. Analysis of debt leveraging in private power projects

    International Nuclear Information System (INIS)

    Kahn, E.P.; Meal, M.; Doerrer, S.; Morse, S.

    1992-08-01

    As private power (non-utility generation) has grown to become a significant part of the electricity system, increasing concern about its financial implications has arisen. In many cases, the source of this concern has been the substantial reliance of these projects on debt financing. This study examines debt leveraging in private power projects. The policy debate on these issues has typically been conducted at a high level of generality. Critics of the private power industry assert that high debt leveraging confers an unfair competitive advantage by lowering the cost of capital, and that this leveraging is only possible because risks are shifted to the utility. Further, debt leveraging is claimed to be a threat to reliability. On the opposite side, it is argued that debt leveraging imposes costs and obligations not home by utilities, and so there is no financial advantage. The private producers also argue that on balance more risk is shifted away from utilities than to them, and that incentives for reliability are strong. In this study we examine the project finance mechanisms used in private power lending in detail, relying on a sample of actual loan documents. This review and its findings should be relevant to the further evolution of this debate. State regulatory commissions are likely to be interested in it, and Federal legislation to amend the Public Utility Holding Company Act (PUHCA) could require states to consider the implications of debt leveraging in relation to their oversight of utility power purchase programs

  4. Analysis of debt leveraging in private power projects

    Energy Technology Data Exchange (ETDEWEB)

    Kahn, E.P. (Lawrence Berkeley Lab., CA (United States)); Meal, M.; Doerrer, S.; Morse, S. (Morse, Richard, Weisenmiller Associates, Inc., Oakland, CA (United States))

    1992-08-01

    As private power has grown to become a significant part of the electricity system, increasing concern about its financial implications has arisen. In many cases, the source of this concern has been the substantial reliance of these projects on debt financing. This study examines debt leveraging in private power projects. The policy debate on these issues has typically been conducted at a high level of generality. Critics of the private power industry assert that high debt leveraging confers an unfair competitive advantage by lowering the cost of capital. This leveraging is only possible because risks are shifted to the utility. Further, debt leveraging is claimed to be a threat to reliability. On the opposite side, it is argued that debt leveraging imposes costs and obligations not borne by utilities, and so there is no financial advantage. The private producers also argue that on balance more risk is shifted away from utilities than to them, and that incentives for reliability are strong. In this study we examine the project finance mechanisms used in private power lending in detail, relying on a sample of actual loan documents. This review and its findings should be relevant to the further evolution of this debate. State regulatory commissions are likely to be interested in it, and Federal legislation to amend the Public Utility Holding Company Act (PUHCA) could require states to consider the implications of debt leveraging in relation to their oversight of utility power purchase programs.

  5. Evaluation of Private Sector Roles in Space Resource Development

    Science.gov (United States)

    Lamassoure, Elisabeth S.; Blair, Brad R.; Diaz, Javier; Oderman, Mark; Duke, Michael B.; Vaucher, Marc; Manvi, Ramachandra; Easter, Robert W.

    2003-01-01

    An integrated engineering and financial modeling approach has been developed and used to evaluate the potential for private sector investment in space resource development, and to assess possible roles of the public sector in fostering private interest. This paper presents the modeling approach and its results for a transportation service using propellant extracted from lunar regolith. The analysis starts with careful case study definition, including an analysis of the customer base and market requirements, which are the basis for design of a modular, scalable space architecture. The derived non-recurring, recurring and operations costs become inputs for a `standard' financial model, as used in any commercial business plan. This model generates pro forma financial statements, calculates the amount of capitalization required, and generates return on equity calculations using two valuation metrics of direct interest to private investors: market enterprise value and multiples of key financial measures. Use of this model on an architecture to sell transportation services in Earth orbit based on lunar propellants shows how to rapidly test various assumptions and identify interesting architectural options, key areas for investment in exploration and technology, or innovative business approaches that could produce an economically viable industry. The same approach can be used to evaluate any other possible private ventures in space, and conclude on the respective roles of NASA and the private sector in space resource development and solar system exploration.

  6. Perceptions of Nongovernmental Organization (NGO Staff about Water Privatization in Developing Countries

    Directory of Open Access Journals (Sweden)

    Ellis A. Adams

    2014-11-01

    Full Text Available Almost a billion people globally lack access to potable water. In the early 1990’s, attempts to improve potable water access in the global south included a massive push for water services privatization, often involving the transfer of public water services to private companies. Critics of water privatization claim it rarely improves access to water, and in most cases, unfairly affect poor people. Proponents on the other hand argue that it is necessary for efficient management and capital investment in the water sector. Although development NGOs play an important role in developing country water provision, hardly any studies have sought to understand their perceptions about the potential role of water privatization towards improving access to potable water in developing countries. We interviewed the key staff among 28 international and national NGO staff about water privatization, its opportunities and constraints. Their perceptions were mixed. While most criticized water privatization as increasing water costs to the poor, some noted that privatization is necessary for improving water access through increased capital investment. We present the findings and discuss larger implications for water policies and reforms in developing countries.

  7. External debt and capital flight in Nigeria: Is there a revolving door?

    Directory of Open Access Journals (Sweden)

    OT Ajilore

    2014-10-01

    Full Text Available Using the residual method of capital flight estimation, this paper estimates Nigerian capital flight over the period 1970 - 2001 and finds a close correlation between external debt and capital flight flows. This phenomenon suggests a paradoxical revolving door of a bi-directional flow of capital, i.e. where capital enters the country in the guise of external borrowing and simultaneously slips out of the country as private capital flight. The research question addressed by this paper is whether such a financial revolving door relationship exists in Nigeria, just as previous empirical researches had established in a number of countries. The paper utilises a simultaneous equation model and three stage least square estimation technique (3SLS, in addition to two-way Granger causality tests, to obtain statistical evidence that confirms the existence of a financial revolving door relationship between the two endogenous variables. In addition, existence of stronger causality from debt to capital flight is instrumental in showing that growing public deficit and the resulting increase in external debt is being used as a transfer mechanism for capital flight.

  8. A blending rule for octane numbers of PRFs and TPRFs with ethanol

    KAUST Repository

    AlRamadan, Abdullah S.; Sarathy, Mani; Khurshid, Muneeb; Badra, Jihad

    2016-01-01

    -gasoline synergistic/antagonistic blending effects. Understanding ethanol blending effects with simpler gasoline surrogates blends may enable a better understanding of ethanol blending with complex multi-component gasoline fuels. This study presents a blending rule

  9. Development of high-performance blended cements

    Science.gov (United States)

    Wu, Zichao

    2000-10-01

    This thesis presents the development of high-performance blended cements from industrial by-products. To overcome the low-early strength of blended cements, several chemicals were studied as the activators for cement hydration. Sodium sulfate was discovered as the best activator. The blending proportions were optimized by Taguchi experimental design. The optimized blended cements containing up to 80% fly ash performed better than Type I cement in strength development and durability. Maintaining a constant cement content, concrete produced from the optimized blended cements had equal or higher strength and higher durability than that produced from Type I cement alone. The key for the activation mechanism was the reaction between added SO4 2- and Ca2+ dissolved from cement hydration products.

  10. National Capital Planning Commission Meeting Transcripts

    Data.gov (United States)

    National Capital Planning Commission — Transcripts of the monthly (with the exception of August) National Capital Planning Commission meeting transcripts are provided for research to confirm actions taken...

  11. Evaporation characteristics of ETBE-blended gasoline.

    Science.gov (United States)

    Okamoto, Katsuhiro; Hiramatsu, Muneyuki; Hino, Tomonori; Otake, Takuma; Okamoto, Takashi; Miyamoto, Hiroki; Honma, Masakatsu; Watanabe, Norimichi

    2015-04-28

    To reduce greenhouse gas emissions, which contribute to global warming, production of gasoline blended with ethyl tert-buthyl ether (ETBE) is increasing annually. The flash point of ETBE is higher than that of gasoline, and blending ETBE into gasoline will change the flash point and the vapor pressure. Therefore, it is expected that the fire hazard caused by ETBE-blended gasoline would differ from that caused by normal gasoline. The aim of this study was to acquire the knowledge required for estimating the fire hazard of ETBE-blended gasoline. Supposing that ETBE-blended gasoline was a two-component mixture of gasoline and ETBE, we developed a prediction model that describes the vapor pressure and flash point of ETBE-blended gasoline in an arbitrary ETBE blending ratio. We chose 8-component hydrocarbon mixture as a model gasoline, and defined the relation between molar mass of gasoline and mass loss fraction. We measured the changes in the vapor pressure and flash point of gasoline by blending ETBE and evaporation, and compared the predicted values with the measured values in order to verify the prediction model. The calculated values of vapor pressures and flash points corresponded well to the measured values. Thus, we confirmed that the change in the evaporation characteristics of ETBE-blended gasoline by evaporation could be predicted by the proposed model. Furthermore, the vapor pressure constants of ETBE-blended gasoline were obtained by the model, and then the distillation curves were developed. Copyright © 2015 Elsevier B.V. All rights reserved.

  12. Farmers’ territory invaded by a water company: The effects of drinking water privatization on rice farmers in Calapan City, the Philippines

    NARCIS (Netherlands)

    Liebrand, J.

    2009-01-01

    This book documents a water conflict known as the Bayanan water issue in Calapan City, the Philippines. Drinking water privatization in Calapan City was implemented by the book; a private company was granted extensive water rights and subsequently made capital investments in a drinking water system

  13. The Localization Characteristic of the Idea and Mission of Private Universities in China

    Directory of Open Access Journals (Sweden)

    Fan Jixuan

    2013-12-01

    Full Text Available The idea and mission of college and university are always assuming a fluxion accompanied with social upheaval. The Chinese private universities' idea and mission take on local characteristic: “As the foundation of a nation, education should meet the needs of social development, should take the responsibility of practical application and take service for the community”, “Education should place people first, attach great importance to the improvement of the students' individual quality and put heavy emphasis on the service quality”, which have become the important content of the faith of Chinese private universities; “To strengthen the internationalization and to open running college”, which is the new direction of faith of Chinese private universities. It became those private universities’ bounden duty to translate normal human resources into quality human capital. So, those private universities have the responsibilities and missions to construct human resources powerful nation, to popular higher education with high standard satisfied by people.

  14. Immigrant Capital and Entrepreneurial Opportunities

    Directory of Open Access Journals (Sweden)

    Malavika Sundararajan

    2016-01-01

    Full Text Available Objective: The main objective of this study is to define and operationalize the concept of immigrant capital, a key factor that differentiates immigrant from host country entrepreneurs in how they recognize and start new ventures. Research Design & Methods: A detailed analysis of contemporary immigrant entrepreneurship and opportunity recognition literature was carried out. Using grounded theory, we synthesized the outcomes from the analysis of eight Canadian and U.S. case studies of successful immigrant entrepreneurs with the key findings from the literature to define and develop a model of immigrant capital. Findings: Based on our grounded theory development process we show that the concept of immigrant capital as a distillate of human, cultural, economic and social capital that goes beyond expected opportunity recognition (OR drivers like prior knowledge and prior experience to differentiate and enhance the immigrant entrepreneur’s ability to recognize business opportunities compared to host country entrepreneurs. We found immigrant capital to be a consequence of being boundary spanners in host and home country networks. Implications & Recommendations: Understanding a unique resource like immigrant capital, will help immigrant as well as host country entrepreneurs further develop their opportunity recognition ability by bridging gaps and fulfilling the needs for both, immigrant and host country consumers. Contribution & Value Added: The main contribution is the theoretical development, identification and definition of the immigrant capital model and propositions that will articulate the factors that lead to the conceptualization and operationalization of immigrant capital. Furthermore, the immigrant capital model can serve host country entrepreneurs to develop cross-cultural networks and jump-start entrepreneurial activities in their home countries as well as learn how to expand their operations into global markets.

  15. THE ROLE OF INTELLECTUAL CAPITAL IN KNOWLEDGE - BASED SOCIETY

    Directory of Open Access Journals (Sweden)

    Denisa-Elena Parpandel

    2013-01-01

    Full Text Available In a knowledge - based society, organizations undergo permanent changes and transformations, and the key factor of such changes is intellectual capital regarded as one of the most critical, yet most strategic values an organization might own. Analyzing intelectual capital and knowledge society over the last decades has primarily emerged in private companies, whereas at present there is an increasing concern in all the fields of activity. The goal of this paper is to emphasize the importance of intellectual capital as a source of innovation and novelty used to create competitive advantages for organizations in the era of knowledge where man must rely on intellect, intuition and creativity. The present paper is an exploratory endeavour based on the qualitative method as various information sources are resorted to in order to conceptualize the terms of intellectual capital and knowledge society: specialty literature, case studies, mass-media articles, reports of in-field organizations etc. Organizations should use all the tangible or non-tangible resources they have in order to secure their success and also to build a knowledge society which involves going a long way, based on an ample, complex process where innovation has a major role and a global nature.

  16. Capitalism, Socialism and Public Choice

    Directory of Open Access Journals (Sweden)

    Adrián Osvaldo Ravier

    2010-10-01

    Full Text Available The essay examines Schumpeter’s understanding of the capitalist process and develops a critical analysis of his explanation of why capitalism cannot survive. Part I deals with how Schumpeter understood capitalism. Part II studies why –- from his point of view — capitalism couldn’t survive. Part III analysis why it is actually socialism, as a socio-political alternative, that is impractical and must collapse from contradictions inherent in it. Part IV presents some final reflections, presenting the public choice and the thought of James M. Buchanan, as an alternative to the pessimist Schumpeterian view.

  17. Social capital in engineering education

    Science.gov (United States)

    Brown, Shane

    A theoretical argument is presented to suggest that engineering curriculum be designed to develop social capital. Additionally, the value of social capital in the retention of students in the College of Engineering, and the development, role, and value of social capital in an electrical engineering laboratory is evaluated. Data collected includes participant observations, informal and formal student interviews, and a researcher-designed survey. Social capital consists of interaction among individuals (networks), social rules that encourage interactions such as trust and reciprocity (norms), and the value of these networks and norms to the individual and the group. A large body of evidence suggests that social capital is valuable in terms of retention and multiple measures of academic achievement. The importance of social capital in retention was verified by students that have left engineering and those that remain, in terms of interactions with peers, teaching assistants, and engineering faculty; and a lack of sense of community in freshman engineering courses. Students that have left engineering differed in their perceptions of social capital from those that remain in their frustrations with teaching methods that encourage little discussion or opportunities to ask questions about assumptions or approaches. The open-ended nature of laboratory assignments, extensive required troubleshooting, and lack of specific directions from the teaching assistants were found to encourage the development of social capital in the laboratory setting. Degree centrality, a network measure of social capital as the number of ties an individual has within a social network, was found to be positively correlated with laboratory grade. Student perceptions of the importance of interactions with other students on success in the laboratory setting has a negative model effect on academic achievement in the laboratory. In contrast, student perceptions of the quality of interactions with

  18. Does a Formal Wiki Event Contribute to the Formation of a Network of Practice? A Social Capital Perspective on the Potential for Informal Learning

    Science.gov (United States)

    Rehm, Martin; Littlejohn, Allison; Rienties, Bart

    2018-01-01

    Informal learning in blended and online settings plays an increasingly important role in the continuous professional development of individuals. Yet, how do individuals engage into these types of activities? We argue that social capital theory can provide valuable insights into how people behave and decide to take part in (in)formal learning.…

  19. From political capitalism to clientelist capitalism? The case of Croatia

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    Denis Redžepagić

    2011-12-01

    Full Text Available The paper analyses the typology of capitalism in Croatia. The Croatian form of capitalism is specific, in form and origin, with links between the pre-independence and post-independence periods, implying that capitalism has gradually evolved – from the political during the eighties towards current clientelistic capitalism. The manufacturing focus aims to facilitate the analysis of institutional, political and economic changes over the past forty years, emphasising the implications of institutional changes which have to a great extent, apart from the war of course, influenced the evolution of capitalism. The paper finds that the transition generated a number of costs, mainly generated by the state (fall in employment, manufacturing and social capital. The claim that the manufacturing industry has inherited low competitiveness neglects the necessary discussion on the role of the state in the formation of industrial policy and market actions. It is also an ex post argument for the claim that restructuring should have been implemented prior to privatisation as this would reduce negative impacts. Institutional changes led to a drastic reduction of the role of the manufacturing sector in the economy. The main finding in this paper is that the change in the interaction between the financial and the real sectors of the economy, the educational system and industrial relations system exposed the vulnerability of the current institutional environment. Despite similarities, institutional advantages of political capitalism are lost in the new type of Croatian capitalism, due to the complexity of the double transition process and the institutional or socio-economic particularities.

  20. Capital market efficiency III

    Directory of Open Access Journals (Sweden)

    Pantelić Svetlana

    2015-01-01

    Full Text Available In 2013 the Nobel Prize in Economic Sciences was awarded to the American economists, Eugene Fama, Lars Peter Hansen and Robert Shiller. The monetarists, Fama and Hansen, from the University of Chicago, and the Neo- Keynesian, Shiller, from the Yale University, according to the Swedish Royal Academy, won this prestigious prize for their research providing mathematical and economic models to determine (irregularities in the stock value trends at the stock exchanges. With his colleagues, in the 1960s Fama established that, in the short term, it is extremely difficult to forecast stock prices, given that new information gets embedded in the prices rather quickly. Shiller, however, determined that, although it is almost impossible to predict the stock prices for a period of few days, this is not true for a period of several years. He discovered that the stock prices fluctuate much more substantially than corporation dividents, and that the relationship between prices and dividends tends to decline when high, and to grow when low. This pattern does not apply only to stocks, but also to bonds and other forms of capital.