WorldWideScience

Sample records for capital cost comparison

  1. The Opportunity Cost of Capital

    Directory of Open Access Journals (Sweden)

    Ayman Chit PhD

    2015-04-01

    Full Text Available The opportunity cost of the capital invested in pharmaceutical research and development (R&D to bring a new drug to market makes up as much as half the total cost. However, the literature on the cost of pharmaceutical R&D is mixed on how, exactly, one should calculate this “hidden” cost. Some authors attempt to adopt models from the field of finance, whereas other prominent authors dismiss this practice as biased, arguing that it artificially inflates the R&D cost to justify higher prices for pharmaceuticals. In this article, we examine the arguments made by both sides of the debate and then explain the cost of capital concept and describe in detail how this value is calculated. Given the significant contribution of the cost of capital to the overall cost of new drug R&D, a clear understanding of the concept is critical for policy makers, investors, and those involved directly in the R&D.

  2. Cost comparisons

    CERN Document Server

    CERN Bulletin

    2010-01-01

    How much does the LHC cost? And how much does this represent in other currencies? Below we present a table showing some comparisons with the cost of other projects. Looking at the figures, you will see that the cost of the LHC can be likened to that of three skyscrapers, or two seasons of Formula 1 racing! One year's budget of a single large F1 team is comparable to the entire materials cost of the ATLAS or CMS experiments.   Please note that all the figures are rounded for ease of reading.    CHF € $   LHC 4.6 billions 3 billions  4 billions   Space Shuttle Endeavour (NASA) 1.9 billion 1.3 billion 1.7 billion   Hubble Space Telescope (cost at launch – NASA/...

  3. INSURANCE AND THE CORPORATE COST OF CAPITAL

    Directory of Open Access Journals (Sweden)

    Monika Wieczorek-Kosmala

    2012-04-01

    Full Text Available The purpose of the paper is to provide some support to the thesis that insurance may reduce the cost of capital in a company by influencing both the cost of capital components and the need for rising capital. The problem is here perceived from two perspectives – the classical concept related to the weighted average cost of capital (WACC and a novel concept related to the risk-based capital structure model with the total average cost of capital (TACC. The paper explains the idea of insurance as a retrospective (post-loss risk financing tool and the risk transfer mechanism upon it. As the risk financing tool insurance reduces the need for the balance-sheet capital in a company and thus the financial distress costs. Also, insurance may reduce the level of operating risk and thus influences the required returns of the capital providers. These observations allow emphasising the impact of insurance on the WACC. However, according to the novel concept of the risk-based capital structure, insurance (as a risk financing tool represents an off-balance sheet capital component. As a consequence, it extends the volume of total capital. The presented conceptual model, based on the TACC concept, indicates that large volume of insurance (the insurance sum and its relatively low cost (the insurance premium gives the possibility to the significant reduction of the cost of capital on average. The concluding remarks discuss some dilemmas over the utility of the TACC concept.

  4. Capital cost: gas cooled fast reactor plant

    Energy Technology Data Exchange (ETDEWEB)

    1977-09-01

    The results of an investment cost study for a 900 MW(e) GCFR central station power plant are presented. The capital cost estimate arrived at is based on 1976 prices and a conceptual design only, not a mature reactor design.

  5. Capitals Cost and the Investments Actualisation Rate

    Directory of Open Access Journals (Sweden)

    Ion Stancu

    2006-04-01

    Full Text Available In this article, the author has assumed himself an assignment somehow ostentatious but useful, we believe, naming the one to illustrate by means of figures, the influence of both leverage and economic growth over the cost of capital, cost which will be used in capital budgeting. This synthesis is meant to be a forthcoming approach to a later investigation of the problems raised by the estimation of the cost of capital in the specific conditions of both the financial market in Romania and the quality of the economic-financial information, information available for this estimation. The discount rate for an investment project (kinv with a risk equal to the risk undertaken by the enterprise and financed within the firm’s capital structure itself (having the same leverage is equal to the (weighted average cost of capital in the respective risk class (k. Under these circumstances, it is interesting to find out this opportunity cost of capital invested in a medium-sized enterprise: a with investments in rebuilding the productive capacity, all equity financed; b with investments in rebuilding the productive capacity, financed both by equity and debt; c with new investments, all equity financed; d with new investments, financed both by equity and debt. Under these conditions, we estimate the effect of both the leverage and economic growth over the cost of capital (kec and kc to be able to determine in the end the discount rate of the analyzed investment (kinv: for enterprises with only maintaining investments (g = 0, unlevered (U and levered (L; for enterprises with growing investments (g > 0, unlevered (U and levered (L.

  6. LIFE Cost of Electricity, Capital and Operating Costs

    Energy Technology Data Exchange (ETDEWEB)

    Anklam, T

    2011-04-14

    Successful commercialization of fusion energy requires economic viability as well as technical and scientific feasibility. To assess economic viability, we have conducted a pre-conceptual level evaluation of LIFE economics. Unit costs are estimated from a combination of bottom-up costs estimates, working with representative vendors, and scaled results from previous studies of fission and fusion plants. An integrated process model of a LIFE power plant was developed to integrate and optimize unit costs and calculate top level metrics such as cost of electricity and power plant capital cost. The scope of this activity was the entire power plant site. Separately, a development program to deliver the required specialized equipment has been assembled. Results show that LIFE power plant cost of electricity and plant capital cost compare favorably to estimates for new-build LWR's, coal and gas - particularly if indicative costs of carbon capture and sequestration are accounted for.

  7. Cost of Capital when Dividends are Deductible

    Directory of Open Access Journals (Sweden)

    Ignacio Velez-Pareja

    2011-09-01

    Full Text Available Tax savings and the discount rate we use to calculate their value are involved in the calculation of cost of capital. Based on previous findings, we derive a general approach to cash flow valuation that take into account any kind of tax shields related to the financing decision of a firm and any date when they are earned. They can be used to introduce any type of externality that creates value through tax savings not captured by neither the cost of debt nor the cost of equity. This paper develops the formulations for the cost of capital when dividends, interest on equity or monetary correction of equity are deductible as it happens in Brazil. It shows that when properly done most known valuation methods are consistent and give identical results. Also, the paper argues that when dividends are tax deductible, optimal leverage is lower and equity value is higher.

  8. 75 FR 16894 - Railroad Cost of Capital-2009

    Science.gov (United States)

    2010-04-02

    ... current cost of debt capital; (2) the railroads' 2009 current cost of preferred equity capital (if any... Surface Transportation Board Railroad Cost of Capital--2009 AGENCY: Surface Transportation Board, DOT. ACTION: Notice of decision instituting a proceeding to determine the railroad industry's 2009 cost...

  9. 76 FR 10430 - Railroad Cost of Capital-2010

    Science.gov (United States)

    2011-02-24

    ... Surface Transportation Board Railroad Cost of Capital--2010 AGENCY: Surface Transportation Board. ACTION: Notice of decision instituting a proceeding to determine the railroad industry's 2010 cost of capital. SUMMARY: The Board is instituting a proceeding to determine the railroad industry's cost of capital...

  10. 77 FR 6625 - Railroad Cost of Capital-2011

    Science.gov (United States)

    2012-02-08

    ... Surface Transportation Board Railroad Cost of Capital--2011 AGENCY: Surface Transportation Board. ACTION: Notice of decision instituting a proceeding to determine the railroad industry's 2011 cost of capital. SUMMARY: The Board is instituting a proceeding to determine the railroad industry's cost of capital...

  11. 78 FR 13933 - Railroad Cost of Capital-2012

    Science.gov (United States)

    2013-03-01

    ... Surface Transportation Board Railroad Cost of Capital--2012 AGENCY: Surface Transportation Board, DOT... capital. SUMMARY: The Board is instituting a proceeding to determine the railroad industry's cost of capital for 2012. The decision solicits comments on the following issues: (1) The railroads' 2012...

  12. The role of capital costs in decarbonizing the electricity sector

    Science.gov (United States)

    Hirth, Lion; Steckel, Jan Christoph

    2016-11-01

    Low-carbon electricity generation, i.e. renewable energy, nuclear power and carbon capture and storage, is more capital intensive than electricity generation through carbon emitting fossil fuel power stations. High capital costs, expressed as high weighted average cost of capital (WACC), thus tend to encourage the use of fossil fuels. To achieve the same degree of decarbonization, countries with high capital costs therefore need to impose a higher price on carbon emissions than countries with low capital costs. This is particularly relevant for developing and emerging economies, where capital costs tend to be higher than in rich countries. In this paper we quantitatively evaluate how high capital costs impact the transformation of the energy system under climate policy, applying a numerical techno-economic model of the power system. We find that high capital costs can significantly reduce the effectiveness of carbon prices: if carbon emissions are priced at USD 50 per ton and the WACC is 3%, the cost-optimal electricity mix comprises 40% renewable energy. At the same carbon price and a WACC of 15%, the cost-optimal mix comprises almost no renewable energy. At 15% WACC, there is no significant emission mitigation with carbon pricing up to USD 50 per ton, but at 3% WACC and the same carbon price, emissions are reduced by almost half. These results have implications for climate policy; carbon pricing might need to be combined with policies to reduce capital costs of low-carbon options in order to decarbonize power systems.

  13. APPLICATION OF COST OF CAPITAL FOR CAPITAL STRUCTURING IN CROATIAN FIRMS

    Directory of Open Access Journals (Sweden)

    Silvije Orsag

    2014-12-01

    Full Text Available This paper show result of empirical analysis application of cost of capital for capital structuring in Croatian firms. Intensity of this applications is highly unrespectable because Croatian firms usually calculated cost of capital in their capital budgeting process. Analysis also show low inconsistency of Croatian firm’s capital structures with peaking order theory. The paper shows that Croatian firm’s employ debt in their capital structure close to the debt equity ratio 1:1, with the significant portion of trade credit and short term bank credits. This short term liabilities are greater than 60% of total used debt in analyzing firms. Finally, paper shows that with degree of using the cost of capital in capital structuring rise profitability of analyzing firms.

  14. The impact of intellectual capital disclosure on cost of equity capital: A case of French firms

    Directory of Open Access Journals (Sweden)

    Mohamed Ali Boujelbene

    2013-06-01

    Full Text Available The purpose of this paper is to examine empirically the impact of intellectual capital disclosure (IC on cost of Equity capital. The empirical research is based on companies listed in the French SBF 120 stock market index. The findings confirm our hypotheses that stipulate the existence of a significant and negative association between intellectual capital disclosure with its two components (human capital, structural and the cost of equity. However, the negative impact of the relational capital disclosure is not validated. The results in this paper are of considerable importance to both policy makers and firms. In fact, the understanding of the impact of Intellectual capital disclosure on cost of equity capital helps policy makers in the evaluation of the costs and benefits of disclosure. Moreover, with regard to managers of firms, the results show the benefit of enhanced IC disclosure regarding the reduction in their cost of capital. This study is one of the very first to provide empirical evidence of the association between Cost of equity capital and the level of disclosure in the three individual intellectual capital categories (human; structural and relational capital.

  15. Information and the Cost of Capital: An Ex Ante Perspective

    DEFF Research Database (Denmark)

    Christensen, Peter Ove; de la Rosa, Leonidas Enrique; Feltham, Gerald A.

    2010-01-01

    of capital is offset by an equal increase in the cost of capital for the period leading up to the release of the information (the preposterior cost of capital). Thus, within the class of models framing the recent discussion, there is no impact on the ex ante cost of capital covering the full time span...... of the firm. The extent to which information is made publicly or privately available affects the timing of the resolution of uncertainty and when the information is reflected in equilibrium prices, but there is no impact on initial equilibrium prices. Within a noisy rational expectations equilibrium, rational...

  16. Estimating the capital cost of underground car parking projects

    OpenAIRE

    Bastos, Mónica; Ribeiro, F. Loforte; Teixeira, José M. Cardoso

    2005-01-01

    Underground parking projects are expansive. The capital cost of underground parking project has been, and still is, one of the promoter's main economic concerns. Therefore, the capital cost estimation is an essential taskin the early stages pf underground parking projcts. In this context, the promoters mainly use cost estimation models, most of them produced by methodologies with lack of precision and with low performances. Over the last yeras Portugal has embarked ona a large programme of...

  17. Reducing the cost of health care capital.

    Science.gov (United States)

    Silberman, R

    1984-08-01

    Although one may ask four financial experts their opinion on the future of the hospital capital market and receive five answers, the blatant need for financial strategic planning is evident. Clearly, the hospital or system with sound financial management will be better positioned to gain and/or maintain an edge in the competitive environment of the health care sector. The trends of the future include hospitals attempting to: Maximize the efficiency of invested capital. Use the expertise of Board members. Use alternative capital sources. Maximize rate of return on investments. Increase productivity. Adjust to changes in reimbursements. Restructure to use optimal financing for capital needs, i.e., using short-term to build up debt capacity if long-term financing is needed in the future. Take advantage of arbitrage (obtain capital and reinvest it until the funds are needed). Delay actual underwriting until funds are to be used. Better management of accounts receivable and accounts payable to avoid short-term financing for cash flow shortfalls. Use for-profit subsidiaries to obtain venture capital by issuing stock. Use product line management. Use leasing to obtain balance sheet advantages. These trends indicate a need for hospital executives to possess a thorough understanding of the capital formation process. In essence, the bottom line is that the short-term viability and long-term survival of a health care organization will greatly depend on the financial expertise of its decision-makers.

  18. The opportunity cost of capital: development of new pharmaceuticals.

    Science.gov (United States)

    Chit, Ayman; Chit, Ahmad; Papadimitropoulos, Manny; Krahn, Murray; Parker, Jayson; Grootendorst, Paul

    2015-01-01

    The opportunity cost of the capital invested in pharmaceutical research and development (R&D) to bring a new drug to market makes up as much as half the total cost. However, the literature on the cost of pharmaceutical R&D is mixed on how, exactly, one should calculate this "hidden" cost. Some authors attempt to adopt models from the field of finance, whereas other prominent authors dismiss this practice as biased, arguing that it artificially inflates the R&D cost to justify higher prices for pharmaceuticals. In this article, we examine the arguments made by both sides of the debate and then explain the cost of capital concept and describe in detail how this value is calculated. Given the significant contribution of the cost of capital to the overall cost of new drug R&D, a clear understanding of the concept is critical for policy makers, investors, and those involved directly in the R&D.

  19. NSSS capital costs for a mature LMFBR industry

    Energy Technology Data Exchange (ETDEWEB)

    Zaman, S.U.

    1978-10-23

    The conceptual design of a commercial LMFBR (Target Plant) and its NSSS capital cost have been developed in support of the United Engineers and Constructors Contract EN-78-C-02-4954 with the Department of Energy. The objective of this work is to provide the Department of Energy/Office of Program Planning and Analysis - Nuclear Energy Programs with periodic updates of technical, capital cost, fuel cycle cost, and operating and maintenance cost information. This effort supports Task 3B of the UE and C's Phase I Energy Economic Data Base (EEDB) Program. Past estimates of LMFBR capital costs have generally predicted that these costs would be higher than those of a comparably sized LWR, primarily due to the more demanding technology associated wih higher temperatures and the large number of engineered systems. The LMFBR, because of its low fuel cycle costs, can tolerate a capital cost premium relative to thermal reactors. The key issues, therefore, are: the allowable LMFBR cost premium, and the steps necessary to reduce the capital cost below the projected allowable cost premium for a safe and reliable plant.

  20. Capitalizing strategic planning costs to recognize future value.

    Science.gov (United States)

    Meeting, D T; Luecke, R W

    1995-04-01

    As healthcare organizations devote more resources to strategic planning, financial managers should consider capitalizing, rather than expensing, planning costs. Traditionally, healthcare organizations have absorbed these costs in the year a plan is developed. However, a strategic plan may be viewed as an intangible asset that provides the organization with future benefits. Therefore, its costs can be amortized over the plan's life.

  1. Breckinridge Project, initial effort. Report VIII. Capital cost estimate

    Energy Technology Data Exchange (ETDEWEB)

    None

    1982-01-01

    The major objective of the Initial Effort for the Breckinridge Project is to develop engineering to the point where realistic economics for the construction and operation of the plant can be made. The plant is designed to process 23,000 tons per day of run-of-mine coal to produce a nominal 50,000 barrels per day of liquid products using the H-COAL and standard industry technology. The plant will be located in Breckinridge County, Kentucky. Considerable preliminary engineering has been performed for this estimate. This work uses a single-point design based on the Process Demonstration Unit (PDU) data from run 5, period 29 of the pilot plant. The design basis is discussed in Volume II of this report. Many aspects of plant construction and cost have been considered that were not taken into account in the past studies. Ashland and Bechtel believe the accuracy of the capital estimate to be +19%, -17%. This accuracy is postulated on January 1981 dollars, the as-spent dollar amount naturally depending upon the inflation rate through the construction period. Considerable attention has been devoted to reliability of operation, and redundant equipment has been used where it was deemed necessary to assure reasonable onstream time. This equipment is included in the capital estimate. The capital is summarized by total plant cost on Table 1. The subtotal plant cost, excluding contingency, fee, and adjustment is $2,710,940,000. Adding the contingency, fee and adjustment, the total depreciable cost of the plant is $3,167,430,000. Adding the working capital to the total plant cost results in total capital requirements of $3,258,430,000 as shown on the individual plant cost summary Table 2.

  2. 42 CFR 412.302 - Introduction to capital costs.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 2 2010-10-01 2010-10-01 false Introduction to capital costs. 412.302 Section 412.302 Public Health CENTERS FOR MEDICARE & MEDICAID SERVICES, DEPARTMENT OF HEALTH AND HUMAN SERVICES... of part 413 of this chapter that are related to assets that were first put in use for patient...

  3. Depreciation cost for the capital investment of a pyroprocess facility

    Energy Technology Data Exchange (ETDEWEB)

    Kim, S. K.; Lee, S. H.; Ko, W. I. [Korea Atomic Energy Research Institute, Daejeon (Korea, Republic of)

    2015-10-15

    The pyroprocess produces U/TRU metal ingots using four important processes, pretreatment, electrochemical reduction, electrorefining and electrowinning, in order to recycle spent fuel. KAPF+'s capacity is shown the cost that is injected into the KAPF+. The pyroprocess unit cost is data that are essential for inputting to calculate the pyroprocess-Sodiumcooled Fast Reactor (SFR) nuclear fuel cycle cost. Moreover, since the pyroprocess facility's depreciation cost is included in the manufacturing indirect cost of the pyroprocess cost, it can become an important element for judging the pyroprocess' economic viability. Since the pyroprocess unit cost calculates the sum of the costs that are incurred each year by dividing with the total amount of U/TRU ingot produced, the pyroprocess unit cost uncertainty increases as well when the uncertainty of the costs incurred by each year increases. KAPF+, which is a commercialization facility, was set as the cost object, and the existing methods (straightline method and fixed percentage of declining-balance method) used today and the depreciation cost of the ADDM were subjected to a comparative analysis. The results are as follows. First, in case of the straight-line method that calculated the durable period as 40 years, and in case of ADDM that factored in a 5% deceleration rate, the difference in the depreciation costs of $65.26/kgHM and $119.05/kgHM resulted during the first and last years, respectively. Accordingly, it was analyzed that there is a significant difference in terms of the cost of the capital investment every year depending on the depreciation method. Secondly, since the depreciation cost is a component of the manufacturing indirect cost, it is necessary to maintain a trend that is similar to that of the direct labor cost in addition to the direct material cost.

  4. 48 CFR 52.215-17 - Waiver of Facilities Capital Cost of Money.

    Science.gov (United States)

    2010-10-01

    ... Capital Cost of Money. 52.215-17 Section 52.215-17 Federal Acquisition Regulations System FEDERAL... Provisions and Clauses 52.215-17 Waiver of Facilities Capital Cost of Money. As prescribed in 15.408(i), insert the following clause: Waiver of Facilities Capital Cost of Money (OCT 1997) The Contractor did...

  5. 48 CFR 52.215-16 - Facilities Capital Cost of Money.

    Science.gov (United States)

    2010-10-01

    ... Money. 52.215-16 Section 52.215-16 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION....215-16 Facilities Capital Cost of Money. As prescribed in 15.408(h), insert the following provision: Facilities Capital Cost of Money (JUN 2003) (a) Facilities capital cost of money will be an allowable...

  6. Minimum Cost Design of Distributed Energy Resources with Studying the Effect of Capital Cost and Replacement Cost

    Directory of Open Access Journals (Sweden)

    Mehdi Nafar

    2012-02-01

    Full Text Available This study presents an optimized design of HPS in a distribution system including sources like, photovoltaic array, Diesel generator and battery bank.In this research, an algorithm has been developed for evaluation and cost optimization HPS. The costs include capital cost, replacement cost, operation and maintenance cost, fuel cost and production cost for HPS and DG power during different load profile. Then an objective function with aim to minimizing of total costs has been considered. A genetic algorithm approach is employed to obtain the best cost value of HPS construction. This study tested on case study network on Mardasht city in Iran.

  7. Multicriteria Estimated Cost of Equity Capital Estimación multicriterio del costo de capital patrimonial

    Directory of Open Access Journals (Sweden)

    Juan Carlos Gutiérrez Betancur

    2009-12-01

    Full Text Available The estimation of the cost of equity capital is a key input to the capital budgeting  process when the firm uses internal financing. Financial analyst and managers usually utilize the CAPM to estimate the cost of equity which requires both measurement of  the market risk premium and estimation of beta. For publicly traded firms, calculating the cost of equity is entirely based on information from the financial markets. Non traded firms and small businesses do not have sufficient market based information. This article proposes a multicriteria model to determine the cost of equity for non traded firms. The Analytic Hierarchy Process developed by Thomas Saaty is the proposed methodology for deriving relative priorities of tangible and intangible corporate risk factors. The model requires business managers to identify the relevant information sources for the required input data. The inconsistencies checking mechanism within the AHP model allows management to identify inconsistencies, to revise prior judgments and to synthesize coherently.ResumenLa estimación del costo del capital propio es un elemento clave en el proceso de presupuestación de capital. Analistas y gerentes financieros utilizan el CAPM para estimar el costo del patrimonio, el cual requiere tanto la medición de la prima de riesgo del mercado como la estimación de beta. En el caso de compañías públicamente cotizadas y bursátiles, el cálculo del costo del patrimonio se basa totalmente en la información disponible en los mercados financieros. Las firmas no transadas en bolsa no cuentan con suficiente información de mercado que permita construir un comparable exactamente válido. Este artículo propone un modelo multicriterio para determinar el costo del capital propio de compañías no transadas en bolsa. El Proceso Analítico de Jerarquías desarrollado por Thomas Saaty soporta la metodología propuesta para derivar prioridades relativas de factores de riesgo corporativos

  8. Disclosure and the Cost of Capital: Evidence from Firms' Responses to the Enron Shock

    OpenAIRE

    Christian Leuz; Catherine Schrand

    2009-01-01

    This paper examines the link between disclosure and the cost of capital. We exploit an exogenous cost of capital shock created by the Enron scandal in Fall 2001 and analyze firms' disclosure responses to this shock. These tests are opposite to the typical research design that analyzes cost of capital responses to disclosure changes. In reversing the tests and using an exogenous shock, we mitigate concerns about omitted variables in traditional cross-sectional disclosure studies. We estimate s...

  9. Accessing Low-Cost Capital Through Securitization (Poster)

    Energy Technology Data Exchange (ETDEWEB)

    Mendelsohn, M.

    2014-10-01

    Poster for Solar Power International conference presents information on NREL's effort to open capital markets through securitization via Solar Access to Public Capital (SAPC) working group's efforts.

  10. The sensitivity of capital services measurement : Measure all assets and the cost of capital

    NARCIS (Netherlands)

    Inklaar, R.

    2010-01-01

    The measurement of capital inputs is still a contentious issue: many choices have to be made that have potentially large effects on the resulting capital input series. This paper compares a large number of methodological choices and their impact on U.S. capital services at the industry and aggregate

  11. 48 CFR 9904.409 - Cost accounting standard-depreciation of tangible capital assets.

    Science.gov (United States)

    2010-10-01

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

  12. Impact of power purchases from nonutilities on the utility cost of capital

    Energy Technology Data Exchange (ETDEWEB)

    Kahn, E.; Stoft, S.; Belden, T. [Lawrence Berkeley Lab., CA (United States). Energy and Environment Div.

    1994-03-01

    This report studies the debt-equivalence debate empirically. The topics of the study include a review of the literature on the cost of equity capital for regulated utilities, a formulation of the debate on NUGs and the utility`s cost of capital, a review of variable definitions and data sources, and a discussion of statistical issues and results.

  13. Development of underground-mine cost-estimating equations. [Dependence of initial capital cost, deferred capital cost and annual operating cost on region, annual mine output and seam depth

    Energy Technology Data Exchange (ETDEWEB)

    1981-03-06

    Table 3.3 summarizes the initial capital, deferred capital, and operating costs (in millions of 1980 dollars) for the four regionally-based underground model mines. The initial capital is divided into two components, fixed and variable. The fixed component is just the investment cost for surface facilities, which is assumed to be independent of mine size. The rest of the initial capital cost is associated with production (primarily face-related) and is assumed to vary linearly with mine size (i.e., annual output). There exists a concern that deferred capital costs will change due to entry mode. However, the installations concerned primarily with this point are depreciated off over the mine life and are not targeted for replacement. Therefore, deferred capital costs will not change significantly with entry mode changes or seam depth. In conclusion, it is our feeling that, within the resources of this project, development of cost adjustment factors relating productivity to various supply regions and seam heights is not practical. Assuming that productivity and, therefore, cost is independent of seam height will introduce errors into the system; however, their extent should be minimized by the incorporation of multiple model mines into the RAMC. Lastly, the relationship presented in this memorandum for depth of cover should be used in the RAMC.

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

    OpenAIRE

    Inklaar, Robert

    2008-01-01

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

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

    NARCIS (Netherlands)

    Inklaar, Robert

    2008-01-01

    The measurement of capital inputs is still a contentious issue: many choices have to be made that have potentially large effects on the resulting capital input series, some entailing differing assumptions about firm behaviour. This paper compares a large number of methodological choices and their im

  16. 36 CFR 51.57 - How does a concessioner request arbitration of the construction cost of a capital improvement?

    Science.gov (United States)

    2010-07-01

    ... request arbitration of the construction cost of a capital improvement? 51.57 Section 51.57 Parks, Forests... Surrender Interest § 51.57 How does a concessioner request arbitration of the construction cost of a capital improvement? If a concessioner requests arbitration of the construction cost of a capital...

  17. Human capital demand in Brazil: The effects of adjustment cost, economic growth, exports and imports

    Directory of Open Access Journals (Sweden)

    Joilson Dias

    2015-01-01

    Full Text Available The objective of this paper is to learn about the effects of the adjustment costs, economic growth, imports and exports on human capital labor demand. The dynamic model proposed by Sargent (1978 was adjusted to consider three types of human capital: (a one with fundamental education (1–8 years of schooling; (b one with secondary education level (9–11 years of education; (c and one with tertiary education level (12 years or more of schooling. Using state level panel data, the dynamic econometrics estimates showed the following results: (i the labor market adjustment costs are very higher; (ii the adjustment cost for the human capital with intermediary education level is the highest one compared to the others; (iii the states’ economic growth favor those with superior education; (iv the imports seems to favor the demand for those with intermediate education levels; (v the degree of openness does show some weak effect on the demand for human capitals with intermediate education. In sum, the growing demand for human capital with some superior education seems to be more associated to its lower adjustment cost and economic growth; the non-significance of real wage elasticity and high adjustment cost seems to indicate that the human capital with intermediate knowledge is in short supply; hence, economic education policy that increases supply of such human capital are in need.

  18. Game theory approach to optimal capital cost allocation in pollution control

    Institute of Scientific and Technical Information of China (English)

    1998-01-01

    This paper tries to integrate game theory, a very usefultool to resolve conflict phenomena, with optimal capital costallocation issue in total emission control. First the necessity ofallocating optimal capital costs fairly and reasonably amongpolluters in total emission control is analyzed. Then thepossibility of applying game theory to the issue of the optimalcapital cost allocation is expounded. Next the cooperative N-person game model of the optimal capital cost allocation and itssolution ways including method based on Shapley value, least coremethod, weak least core methods, proportional least core method,CGA method, MCRS method and so on are delineated. Finally throughapplication of these methods it is concluded that to apply gamethory in the optimal capital cost allocation issue is helpful toimplement the total emission control planning schemes successfully,to control pollution effectively, and to ensure sustainable development.

  19. 47 CFR 65.305 - Calculation of the weighted average cost of capital.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Calculation of the weighted average cost of... Carriers § 65.305 Calculation of the weighted average cost of capital. (a) The composite weighted average... Commission determines to the contrary in a prescription proceeding, the composite weighted average cost...

  20. Capital cost reimbursement to community hospitals under Federal health insurance programs.

    Science.gov (United States)

    Kinney, E D; Lefkowitz, B

    1982-01-01

    Issues in current capital cost reimbursement to community hospitals by Medicare and Medicaid are described, and options for change analyzed. Major reforms in the way the federal government pays for capital costs--in particular substitution of other methods of payment for existing depreciation reimbursement--could have significant impact on the structure of the health care system and on government expenditures. While such reforms are likely to engender substantial political opposition, they may be facilitated by broader changes in the reimbursement system.

  1. Default Rate and Price of Capital in a Costly External Finance Model

    Directory of Open Access Journals (Sweden)

    Juan Pablo Medina

    2006-03-01

    Full Text Available Financial frictions have been used to enrich mechanisms transmission in macroeconomics. However, the predictions of real business cycle models of costly external finance imply a procyclical default rate, external premium and relative price of capital which seems at odds with the data. In this article, we include technology shocks that affect the average productivity and idiosyncratic risk of capital producers in a standard costly external finance model. These elements enhance the model to deliver a countercyclical default rate, external finance and relative price of capital premium which are more consistent with the data and contrary to the results obtained with a sector-neutral productivity shock. Intuitively, if the entrepreneurs’ investment projects become more productive in average, the relative price of capital and the default rate fall while investment and output increase. Using data on the relative price of capital, we perform a calibration of this type of shocks which highlights its business-cycle relevance.

  2. INTEREST ON EQUITY AND THE WEIGHTED AVERAGE COST OF CAPITAL

    OpenAIRE

    LUCAS AUGUSTO DE MORAIS PILOTO

    2008-01-01

    Diversos métodos são utilizados para o cálculo do valor justo de uma empresa. Dentre os métodos mais usados, estão o método do fluxo de caixa descontado, onde os fluxos de caixa estimados da empresa são trazidos a valor presente por uma taxa para se chegar a uma estimativa de valor da empresa. Esta taxa é uma média ponderada do custo de capital próprio e do custo de capital de terceiros, sendo conhecida pela sigla WACC. No Brasil, entretanto, existe uma peculiaridade na legi...

  3. The integrated supplier: key to cost management and multi-franchise capitation contracting.

    Science.gov (United States)

    Schuweiler, R C

    1996-05-01

    Capitation...most healthcare providers do not work under it, comprehend it, or even want it, yet supply capitation contracting seminars are popping up everywhere creating the feeling that the bandwagon is leaving, and it might be time to get on board. Not true. Supply capitation is not for all organizations. Capitation contracting is not easy and there are not many successful models to help the uninitiated. If a panacea is sought for reducing supply costs, capitation is only one component of a systematic strategy to reduce materiel costs. This article suggests a direction using the Group Health Materiel Management (Group Health Cooperative of Puget Sound, WA) experience as a point of reference. It advocates a systematic approach that focuses on expense reduction in: cost of goods, holding cost of inventory, labor cost associated with all materiel processes, distribution cost (transportation and par stock pick, pack, and replenishment), product utilization, variation in product standards, and waste stream byproducts. At Group Health (GH) these issues are primarily addressed through the use of: information systems, supplier certification/selection processes, group purchasing compliance, supply channel management, supply capitation contracting programs, standardization, and utilization management. Because of managed care organizational structure, Group Health Cooperative supply capitation contracting, as performed at GH, is discussed not as a quick fix solution but in the spirit of sharing our experience with others who may be considering it as a cost savings tactic in the context of a broad-based materiel management strategy. This article highlights the experiences of GH beginning with materiel management's business process assumptions toward multiple-franchise supply capitation.

  4. Capital Cost: Pressurized Water Reactor Plant Volume 1

    Energy Technology Data Exchange (ETDEWEB)

    1977-06-01

    The investment cost study for the 1139-MW(e) pressurized water reactor (PWR) central station power plant consists of two volumes. This volume includes in addition to the foreword and summary, the plant description and the detailed cost estimate.

  5. The Optimal Solution of the Model with Physical and Human Capital Adjustment Costs

    Institute of Scientific and Technical Information of China (English)

    RAO Lan-lan; CAI Dong-han

    2004-01-01

    We prove that the model with physical and human capital adjustment costs has optimal solution when the production function is increasing return and the structure of vetor fields of the model changes substantially when the prodution function from decreasing return turns to increasing return.And it is shown that the economy is improved when the coefficients of adjustment costs become small.

  6. Capital and operating costs of full-scale fecal sludge management and wastewater treatment systems in Dakar, Senegal.

    Science.gov (United States)

    Dodane, Pierre-Henri; Mbéguéré, Mbaye; Sow, Ousmane; Strande, Linda

    2012-04-03

    A financial comparison of a parallel sewer based (SB) system with activated sludge, and a fecal sludge management (FSM) system with onsite septic tanks, collection and transport (C&T) trucks, and drying beds was conducted. The annualized capital for the SB ($42.66 capita(-1) year(-1)) was ten times higher than the FSM ($4.05 capita(-1) year(-1)), the annual operating cost for the SB ($11.98 capita(-1) year(-1)) was 1.5 times higher than the FSM ($7.58 capita(-1) year(-1)), and the combined capital and operating for the SB ($54.64 capita(-1) year(-1)) was five times higher than FSM ($11.63 capita(-1) year(-1)). In Dakar, costs for SB are almost entirely borne by the sanitation utility, with only 6% of the annualized cost borne by users of the system. In addition to costing less overall, FSM operates with a different business model, with costs spread among households, private companies, and the utility. Hence, SB was 40 times more expensive to implement for the utility than FSM. However, the majority of FSM costs are borne at the household level and are inequitable. The results of the study illustrate that in low-income countries, vast improvements in sanitation can be affordable when employing FSM, whereas SB systems are prohibitively expensive.

  7. Mandatory IFRS adoption and the cost of Equity Capital. Evidence from Spanish Firms

    Directory of Open Access Journals (Sweden)

    David Castillo-Merino

    2014-05-01

    Full Text Available Purpose: The main objective of this paper analyses the effects of mandatory International Financial Reporting Standards (IFRS adoption by Spanish firms in 2005 on the cost of equity capital. Design/methodology: Using a sample of listed Spanish companies during the 1999 to 2009 period and a country-level focused analysis. To achieve our objective we relied on OLS regression analysis and estimate the dependent variable – the cost of equity – by using the proxy suggested in Easton (2004. Findings: We find evidence that, unlike previous studies, Spanish listed companies show a significant reduction in their cost of equity capital after the mandatory adoption of IFRS in 2005, after controlling by a set of firm-risk and market variables. According to our results, increased financial disclosure and enhanced information comparability, along with changes in legal and institutional enforcement, seem to have a joint effect on the cost of capital, leading to a large decrease in expected equity returns. Research limitations: The main limitation of the study is that the sample represents just one country. Practical implications: The findings of the study may have implications for the firms’ management staff, as they reveal what information determines the cost of equity capital. The systematic risk and the leverage affect positively the cost of stocks and therefore their market value. The results are consistent with the financial principle establishing that the higher risk and the higher leverage, the higher cost of capital. Originality/value: As a result of the conducted research, one is able to figure out which stock-return variables should be observed to anticipate the change of a company’s cost of capital.

  8. Capital cost: low and high sulfur coal plants; 800 MWe

    Energy Technology Data Exchange (ETDEWEB)

    None

    1978-01-01

    This Commercial Electric Power Cost Study for 800-MWe (Nominal) low- and high-sulfur coal plants consists of three volumes. (This is the fourth subject in a series of eight performed in the Commercial Electric Power Cost Studies by the US NRC). The low-sulfur coal plant is described in Volumes I and II, while Volume III (this volume) describes the high sulfur coal plant. The design basis, drawings, and summary cost estimate for a 794-MWe high-sulfur coal plant are presented in this volume. This information was developed by redesigning the low-sulfur sub-bituminous coal plant for burning high-sulfur bituminous coal. The reference design includes a lime flue-gas-desulfurization system. These coal plants utilize a mechanical draft (wet) cooling tower system for condenser heat removal. Costs of alternate cooling systems are provided in Report No. 7 in this series of studies of costs of commercial electrical power plants.

  9. Information and Heterogeneous Beliefs: Cost of Capital, Trading Volume, and Investor Welfare

    DEFF Research Database (Denmark)

    Christensen, Peter Ove; Qin, Zhenjiang

    In an incomplete market setting with heterogeneous prior beliefs, we show that public information can have a substantial impact on the ex ante cost of capital, trading volume, and investor welfare. In a model with exponential utility investors and an asset with a normally distributed dividend......, the Pareto efficient public information system is the system which enjoys the maximum ex ante cost of capital, and the maximum expected abnormal trading volume. The public information system facilitates improved dynamic trading opportunities based on heterogeneously updated posterior beliefs in order to take...... information system. In an effectively complete market setting, in which investors do not need to trade dynamically in order to take full advantage of their differences in beliefs, the ex ante cost of capital and the investor welfare are both higher than in the incomplete market setting...

  10. The Determinants Factors of the Capital Cost � Evidence from 5 EU Countries

    Directory of Open Access Journals (Sweden)

    Georgiana Sterea

    2016-07-01

    Full Text Available The aim of the paper is to highlight the importance and complexity of the company�s capital and its components and the extent to which its cost is influenced by several factors. In order to achieve this goal we have made a study on a sample of 15 companies from Romania and other 4 EU countries: Italy, Spain, France and Finland. All are SME�s and micro-enterprises that acting in the sector of "Growing of spices, aromatic, drug and pharmaceutical crops". For the study of capital cost determinants were selected five variables: return on equity, return on assets, general indebtedness, taxation and firm�s size in order to determine their influence on the cost of capital.

  11. Willingness to pay and cost of illness for changes in health capital depreciation.

    Science.gov (United States)

    Ried, W

    1996-01-01

    The paper investigates the relationship between the willingness to pay and the cost of illness approach with respect to the evaluation of economic burden due to adverse health effects. The basic intertemporal framework is provided by Grossman's pure investment model, while effects on individual morbidity are taken to be generated by marginal changes in the rate of health capital depreciation. More specifically, both the simple example of purely temporary changes and the more general case of persistent variations in health capital depreciation are discussed. The analysis generates two principal findings. First, for a class of identical individuals cost as measured by the cost of illness approach is demonstrated to provide a lower bound on the true welfare cost to the individual, i.e. cost as given by the willingness to pay approach. Moreover, the cost of illness is increasing in the size of the welfare loss. Second, if one takes into account the possible heterogeneity of individuals, a clear relationship between the cost values supplied by the two approaches no longer exists. As an example, the impact of variations in either financial wealth or health capital endowment is discussed. Thus, diversity in individual type turns out to blur the link between cost of illness and the true economic cost.

  12. Capital cost: low and high sulfur coal plants; 800 MWe

    Energy Technology Data Exchange (ETDEWEB)

    None

    1978-01-01

    The Commercial Electric Power Cost Study for 800-MWe (Nominal) low- and high-sulfur coal plants consists of three volumes. (This the fourth subject in a series of eight performed in the Commercial Electric Power Cost Studies by the US NRC). The low-sulfur coal plant is described in Volumes I and II (this volume), while Volume III describes the high-sulfur coal plant. The design basis and cost estimate for the 801-MWe low-sulfur coal plant is presented in Volume I and the drawings, equipment list, and site description are contained in this document. The design basis, drawings, and summary cost estimate for a 794-MWe high-sulfur coal plant are presented in Volume III. This information was developed by redesigning the low-sulfur sub-bituminous coal plant for burning high-sulfur bituminous coal. The reference design includes a lime flue gas desulfurization system. These coal plants utilize a mechanical draft (wet) cooling tower system for condenser heat removal. Costs of alternate cooling systems are provided in Report No. 7 in this series of studies of costs of commercial electrical power plants.

  13. Conceptual capital-cost estimate and facility design of the Mirror-Fusion Technology Demonstration Facility

    Energy Technology Data Exchange (ETDEWEB)

    1982-09-01

    This report contains contributions by Bechtel Group, Inc. to Lawrence Livermore National Laboratory (LLNL) for the final report on the conceptual design of the Mirror Fusion Technology Demonstration Facility (TDF). Included in this report are the following contributions: (1) conceptual capital cost estimate, (2) structural design, and (3) plot plan and plant arrangement drawings. The conceptual capital cost estimate is prepared in a format suitable for inclusion as a section in the TDF final report. The structural design and drawings are prepared as partial inputs to the TDF final report section on facilities design, which is being prepared by the FEDC.

  14. CVP ANALYSIS INCORPORATING THE COST OF CAPITAL ON R&D INVESTMENT

    Directory of Open Access Journals (Sweden)

    DIAN PRIHADYANTI

    2011-04-01

    Full Text Available Cost-volume-profit (CVP analysis is a widely used tool for managerial planning. The failure of CVP analysis to incorporate the cost of capital into a product's cost function can lead to underestimating a product's cost, while overstating its profitability. This paper proposes another variation of the CVPanalytical model to include cost of capital on R&D investment and its risk level on strategic decisions. The modified CVP model provides more useful information to management because it focuses on morespecific type of investment which has particular characteristics. The CVP model developed is more complex, because it includes risk and uncertainty for the expected revenue, and specifies the R&D expense as percentage of total sales. However, the model still needs further development.

  15. Wind-To-Hydrogen Project: Electrolyzer Capital Cost Study

    Energy Technology Data Exchange (ETDEWEB)

    Saur, G.

    2008-12-01

    This study is being performed as part of the U.S. Department of Energy and Xcel Energy's Wind-to-Hydrogen Project (Wind2H2) at the National Renewable Energy Laboratory. The general aim of the project is to identify areas for improving the production of hydrogen from renewable energy sources. These areas include both technical development and cost analysis of systems that convert renewable energy to hydrogen via water electrolysis. Increased efficiency and reduced cost will bring about greater market penetration for hydrogen production and application. There are different issues for isolated versus grid-connected systems, however, and these issues must be considered. The manner in which hydrogen production is integrated in the larger energy system will determine its cost feasibility and energy efficiency.

  16. Rightsizing HVAC Systems to Reduce Capital Costs and Save Energy

    Science.gov (United States)

    Sebesta, James

    2010-01-01

    Nearly every institution is faced with the situation of having to reduce the cost of a construction project from time to time through a process generally referred to as "value engineering." Just the mention of those words, however, gives rise to all types of connotations, thoughts, and memories (usually negative) for those in the facilities…

  17. Molten Salt: Concept Definition and Capital Cost Estimate

    Energy Technology Data Exchange (ETDEWEB)

    Stoddard, Larry [Black & Veatch, Kansas City, MO (United States); Andrew, Daniel [Black & Veatch, Kansas City, MO (United States); Adams, Shannon [Black & Veatch, Kansas City, MO (United States); Galluzzo, Geoff [Black & Veatch, Kansas City, MO (United States)

    2016-06-30

    The Department of Energy’s (DOE’s) Office of Renewable Power (ORP) has been tasked to provide effective program management and strategic direction for all of the DOE’s Energy Efficiency & Renewable Energy’s (EERE’s) renewable power programs. The ORP’s efforts to accomplish this mission are aligned with national energy policies, DOE strategic planning, EERE’s strategic planning, Congressional appropriation, and stakeholder advice. ORP is supported by three renewable energy offices, of which one is the Solar Energy Technology Office (SETO) whose SunShot Initiative has a mission to accelerate research, development and large scale deployment of solar technologies in the United States. SETO has a goal of reducing the cost of Concentrating Solar Power (CSP) by 75 percent of 2010 costs by 2020 to reach parity with base-load energy rates, and to reduce costs 30 percent further by 2030. The SunShot Initiative is promoting the implementation of high temperature CSP with thermal energy storage allowing generation during high demand hours. The SunShot Initiative has funded significant research and development work on component testing, with attention to high temperature molten salts, heliostats, receiver designs, and high efficiency high temperature supercritical CO2 (sCO2) cycles. DOE retained Black & Veatch to support SETO’s SunShot Initiative for CSP solar power tower technology in the following areas: 1. Concept definition, including costs and schedule, of a flexible test facility to be used to test and prove components in part to support financing. 2. Concept definition, including costs and schedule, of an integrated high temperature molten salt (MS) facility with thermal energy storage and with a supercritical CO2 cycle generating approximately 10MWe. 3. Concept definition, including costs and schedule, of an integrated high temperature falling particle facility with thermal energy storage and with a supercritical CO2

  18. Falling Particles: Concept Definition and Capital Cost Estimate

    Energy Technology Data Exchange (ETDEWEB)

    Stoddard, Larry [Black & Veatch, Kansas City, MO (United States); Galluzzo, Geoff [Black & Veatch, Kansas City, MO (United States); Adams, Shannon [Black & Veatch, Kansas City, MO (United States); Andrew, Daniel [Black & Veatch, Kansas City, MO (United States)

    2016-06-30

    The Department of Energy’s (DOE) Office of Renewable Power (ORP) has been tasked to provide effective program management and strategic direction for all of the DOE’s Energy Efficiency & Renewable Energy’s (EERE’s) renewable power programs. The ORP’s efforts to accomplish this mission are aligned with national energy policies, DOE strategic planning, EERE’s strategic planning, Congressional appropriation, and stakeholder advice. ORP is supported by three renewable energy offices, of which one is the Solar Energy Technology Office (SETO) whose SunShot Initiative has a mission to accelerate research, development and large scale deployment of solar technologies in the United States. SETO has a goal of reducing the cost of Concentrating Solar Power (CSP) by 75 percent of 2010 costs by 2020 to reach parity with base-load energy rates, and to reduce costs 30 percent further by 2030. The SunShot Initiative is promoting the implementation of high temperature CSP with thermal energy storage allowing generation during high demand hours. The SunShot Initiative has funded significant research and development work on component testing, with attention to high temperature molten salts, heliostats, receiver designs, and high efficiency high temperature supercritical CO2 (sCO2) cycles.

  19. 42 CFR 413.130 - Introduction to capital-related costs.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 2 2010-10-01 2010-10-01 false Introduction to capital-related costs. 413.130 Section 413.130 Public Health CENTERS FOR MEDICARE & MEDICAID SERVICES, DEPARTMENT OF HEALTH AND HUMAN... depreciable assets under § 413.134(f). (2) Taxes on land or depreciable assets used for patient care....

  20. 47 CFR 65.300 - Calculations of the components and weights of the cost of capital.

    Science.gov (United States)

    2010-10-01

    ... the cost of capital. 65.300 Section 65.300 Telecommunication FEDERAL COMMUNICATIONS COMMISSION... of financing that are not investor supplied, or that are otherwise subtracted from a carrier's rate... that are made pursuant to section 203 of the Communications Act of 1934, 47 U.S.C. 203, or that...

  1. Human Capital and Cross-Country Comparison of Inequality

    NARCIS (Netherlands)

    J.M.A. Viaene (Jean-Marie); I. Zilcha (Itzhak)

    2002-01-01

    textabstractThe paper studies the effects of cross-country differences in the production process of human capital on income distribution and growth. Our overlapping gen- erations economy has the following features: (1) consumers are heterogenous with respect to parental human capital and wealth; (2)

  2. Capital and operating costs for industrial boilers. Final report Apr-Jun 79

    Energy Technology Data Exchange (ETDEWEB)

    Gibbs, L.L.; AbrahaM, J.P.; Noe, N.D.; Forste, D.S.; Kimball, H.T.

    1979-06-01

    The report provides estimates of capital and operating costs for industrial boilers. Costs are related to the type of fuel fired, firing design and rated capacity. Both package and field-erected boilers are evaluated. Fuels considered include coal, residual oil, distillate oil and natural gas. Firing designs for coal include underfeed-stoker, spreader-stoker and pulverized. Rated capacities range from 15(10 to the 6th)Btu/hr for oil and gas to 700(10 to the 6th)Btu/hr for coal. Costs are developed on a study estimate basis. Individual boiler cost estimates were plotted and cost equations developed for total equipment, installation (direct and indirect) and operating costs (variable and fixed).

  3. Environmental residuals and capital costs of energy recovery from municipal sludge and feedlot manure

    Energy Technology Data Exchange (ETDEWEB)

    Ballou, S W; Dale, L; Johnson, R; Chambers, W; Mittelhauser, H

    1980-09-01

    The capital and environmental cost of energy recovery from municipal sludge and feedlot manure is analyzed. Literature on waste processing and energy conversion and interviews with manufacturers were used for baseline data for construction of theoretical models using three energy conversion processes: anaerobic digestion, incineration, and pyrolysis. Process characteristics, environmental impact data, and capital costs are presented in detail for each conversion system. The energy recovery systems described would probably be sited near large sources of sludge and manure, i.e., metropolitan sewage treatment plants and large feedlots in cattle-raising states. Although the systems would provide benefits in terms of waste disposal as well as energy production, they would also involve additional pollution of air and water. Analysis of potential siting patterns and pollution conflicts is needed before energy recovery systems using municipal sludge can be considered as feasible energy sources.

  4. Assesing the Impact of Local Incentives on Capital Cost: The Case of the Indiana Era Program

    Directory of Open Access Journals (Sweden)

    Esteban G. DALEHITE

    2006-02-01

    Full Text Available Public policy makers and administrators around the world recurrently face the question of whether to grant tax privileges to businesses in order to promote investment, jobs, or economic development in general. This article analyzes a very popular form of local incentive, the property tax abatement, and its ability to reduce capital cost. The research question is: By how much do property tax abatements reduce the capital cost of business and homes? Results show that abatements can account for quite a large range of possible percentage reductions in the price of investment for firms. The findings provide public administrators and policy makers with data and a tool to assess the benefits that firms derive from abatements. This in turn can contribute to more informed abatement decisions and to an overall assessment concerning the suitability of this tool to promote economic development.

  5. Managerial Optimism and the Cost of Capital. The SEM-Approach with a Focus on the German Capital Market 

    Directory of Open Access Journals (Sweden)

    Jan-Hendrik Meier

    2016-04-01

    Full Text Available The present study contributes the first analysis of the influence of managerial optimism on companies’ financing policy and cost of capital. Since overconfidence biases investment and financing decisions, it may directly and indirectly influence a company’s risks and value. In contrast to prior research, which has almost exclusively been focused on the analysis of leverage, the present paper also takes risk measures into account to decompose the cost of capital and to identify direct and indirect effects of managerial optimism by using structural equation modeling (SEM. Based on a large sample of companies listed in Germany, this study found strong evidence that optimistic managers caused a higher equity risk and a higher risk of insolvency. However, this effect was not caused by the choice of leverage, and, thus, it must have been caused by investment-policy decisions. However, an optimistic management achieves a significant reduction in the overall cost of capital.

  6. Controlling Capital Costs in High Performance Office Buildings: A Review of Best Practices for Overcoming Cost Barriers

    Energy Technology Data Exchange (ETDEWEB)

    Pless, S.; Torcellini, P.

    2012-05-01

    This paper presents a set of 15 best practices for owners, designers, and construction teams of office buildings to reach high performance goals for energy efficiency, while maintaining a competitive budget. They are based on the recent experiences of the owner and design/build team for the Research Support Facility (RSF) on National Renewable Energy Facility's campus in Golden, CO, which show that achieving this outcome requires each key integrated team member to understand their opportunities to control capital costs.

  7. Capital cost: pressurized water reactor plant. Commercial electric power cost studies

    Energy Technology Data Exchange (ETDEWEB)

    1977-06-01

    The investment cost study for the 1139 MW(e) pressurized water reactor (PWR) central station power plant consists of two volumes. This volume contains the drawings, equipment list and site description.

  8. Structural and performance costs of reproduction in a pure capital breeder, the Children's python Antaresia childreni.

    Science.gov (United States)

    Lourdais, Olivier; Lorioux, Sophie; DeNardo, Dale F

    2013-01-01

    Females often manage the high energy demands associated with reproduction by accumulating and storing energy in the form of fat before initiating their reproductive effort. However, fat stores cannot satisfy all reproductive resource demands, which include considerable investment of amino acids (e.g., for the production of yolk proteins or gluconeogenesis). Because capital breeders generally do not eat during reproduction, these amino acids must come from internal resources, typically muscle proteins. Although the energetic costs of reproduction have been fairly well studied, there are limited data on structural and performance costs associated with the muscle degradation required to meet amino acid demands. Thus, we examined structural changes (epaxial muscle width) and performance costs (constriction and strength) over the course of reproduction in a pure capital breeder, the children's python (Antaresia childreni). We found that both egg production (i.e., direct resource allocation) and maternal care (egg brooding) induce muscle catabolism and affect performance of the female. Although epaxial muscle loss was minimal in nonreproductive females, it reached up to 22% (in females after oviposition) and 34% (in females after brooding) of initial muscle width. Interestingly, we found that individuals with higher initial muscular condition allocated more of their muscle into reproduction. The amount of muscle loss was significantly linked to clutch mass, underscoring the role of structural protein in egg production. Egg brooding significantly increased proteolysis and epaxial loss despite no direct allocation to the offspring. Muscle loss was linked to a significant reduction in performance in postreproductive females. Overall, these results demonstrate that capital-breeding females experience dramatic costs that consume structural resources and jeopardize performance.

  9. Statistical analysis of regional capital and operating costs for electric power generation

    Energy Technology Data Exchange (ETDEWEB)

    Sanchez, L.R.; Myers, M.G.; Herrman, J.A.; Provanizano, A.J.

    1977-10-01

    This report presents the results of a three and one-half-month study conducted for Brookhaven National Lab. to develop capital and operating cost relationships for seven electric power generating technologies: oil-, coal-, gas-, and nuclear-fired steam-electric plants, hydroelectric plants, and gas-turbine plants. The methodology is based primarily on statistical analysis of Federal Power Commission data for plant construction and annual operating costs. The development of cost-output relationships for electric power generation is emphasized, considering the effects of scale, technology, and location on each of the generating processes investigated. The regional effects on cost are measured at the Census Region level to be consistent with the Brookhaven Multi-Regional Energy and Interindustry Regional Model of the United States. Preliminary cost relationships for system-wide costs - transmission, distribution, and general expenses - were also derived. These preliminary results cover the demand for transmission and distribution capacity and operating and maintenance costs in terms of system-service characteristics. 15 references, 6 figures, 23 tables.

  10. Developing a Cost Model and Methodology to Estimate Capital Costs for Thermal Energy Storage

    Energy Technology Data Exchange (ETDEWEB)

    Glatzmaier, G.

    2011-12-01

    This report provides an update on the previous cost model for thermal energy storage (TES) systems. The update allows NREL to estimate the costs of such systems that are compatible with the higher operating temperatures associated with advanced power cycles. The goal of the Department of Energy (DOE) Solar Energy Technology Program is to develop solar technologies that can make a significant contribution to the United States domestic energy supply. The recent DOE SunShot Initiative sets a very aggressive cost goal to reach a Levelized Cost of Energy (LCOE) of 6 cents/kWh by 2020 with no incentives or credits for all solar-to-electricity technologies.1 As this goal is reached, the share of utility power generation that is provided by renewable energy sources is expected to increase dramatically. Because Concentrating Solar Power (CSP) is currently the only renewable technology that is capable of integrating cost-effective energy storage, it is positioned to play a key role in providing renewable, dispatchable power to utilities as the share of power generation from renewable sources increases. Because of this role, future CSP plants will likely have as much as 15 hours of Thermal Energy Storage (TES) included in their design and operation. As such, the cost and performance of the TES system is critical to meeting the SunShot goal for solar technologies. The cost of electricity from a CSP plant depends strongly on its overall efficiency, which is a product of two components - the collection and conversion efficiencies. The collection efficiency determines the portion of incident solar energy that is captured as high-temperature thermal energy. The conversion efficiency determines the portion of thermal energy that is converted to electricity. The operating temperature at which the overall efficiency reaches its maximum depends on many factors, including material properties of the CSP plant components. Increasing the operating temperature of the power generation

  11. Fair Value Accounting and the Cost of Equity Capital: The Moderating Effect of Risk Disclosure

    Directory of Open Access Journals (Sweden)

    Dignah Ashwag

    2017-01-01

    Full Text Available Evidence thus far suggests fair value accounting poses risk and affects firms’ returns in some ways. This research, on a sample of Asian banks, improves the understanding of the information risk effect of fair value accounting by examining the moderating role of risk disclosure in the relationship between fair value accounting and the cost of equity capital. The results from a generalised method of moments on dynamic panel data analysis, show that risk disclosure mitigates the asymmetric information problem. Thus the findings contribute towards the standard setters’ effort in improving the practice of fair value accounting, and suggest that there are benefits in mandating disclosure especially for banks.

  12. A comparison of the capital structures of nonprofit and proprietary health care organizations.

    Science.gov (United States)

    Trussel, John

    2012-01-01

    The relative amount of debt used by an organization is an important determination of the organization's likelihood of financial problems and its cost of capital. This study addresses whether or not there are any differences between proprietary and nonprofit health care organizations in terms of capital structure. Controlling for profitability, risk, growth, and size, analysis of covariance is used to determine whether or not proprietary and nonprofit health care organizations use the same amount of leverage in their capital structures. The results indicate that there is no difference in the amount of leverage between the two institutional types. Although nonprofit and proprietary organizations have unique financing mechanisms, these differences do not impact the relative amount of debt and equity in their capital structures.

  13. Disclosure, Conservatism and their Influence on Cost of Capital of the Companies Accepted by Tehran Stock Exchange (TSE

    Directory of Open Access Journals (Sweden)

    R. Zare

    2013-05-01

    Full Text Available This study attempts to examine the relevance of Disclosure, conservatism and their influence on cost of capital of the companies accepted by Tehran Stock Exchange (TSE and Compare the relative information content of them. Based on sampling, 113 firms from Tehran Stock Exchange (TSE were selected and examined during 2003 to 2009. The results support the priority of accounting figures over dividend policy. The results show there is some significant relation between the conservatism rate and cost of capital. The relation between the conservatism and cost of capital is on the basis of the Spence (1973. By virtue of the theory the companies benefit from the conservative accounting policy as a quality sign. When the conservative accounting policy is chosen it indicates a positive qualitative sign. Higher quality indicates the information risk of a company decreases probably; when the information risk of a company decreases the cost of capital decreases, too. Also the results show a significant relation between the disclosure rate and cost of capital namely when the disclosure rate of a company is higher (better the usual shares cost is lower.

  14. Life-cycle cost comparisons of advanced storage batteries and fuel cells for utility, stand-alone, and electric vehicle applications

    Energy Technology Data Exchange (ETDEWEB)

    Humphreys, K.K.; Brown, D.R.

    1990-01-01

    This report presents a comparison of battery and fuel cell economics for ten different technologies. To develop an equitable economic comparison, the technologies were evaluated on a life-cycle cost (LCC) basis. The LCC comparison involved normalizing source estimates to a standard set of assumptions and preparing a lifetime cost scenario for each technology, including the initial capital cost, replacement costs, operating and maintenance (O M) costs, auxiliary energy costs, costs due to system inefficiencies, the cost of energy stored, and salvage costs or credits. By considering all the costs associated with each technology over its respective lifetime, the technology that is most economical to operate over any given period of time can be determined. An analysis of this type indicates whether paying a high initial capital cost for a technology with low O M costs is more or less economical on a lifetime basis than purchasing a technology with a low initial capital cost and high O M costs. It is important to realize that while minimizing cost is important, the customer will not always purchase the least expensive technology. The customer may identify benefits associated with a more expensive option that make it the more attractive over all (e.g., reduced construction lead times, modularity, environmental benefits, spinning reserve, etc.). The LCC estimates presented in this report represent three end-use applications: utility load-leveling, stand-alone power systems, and electric vehicles.

  15. Commercialising Comparison: Pearson Puts the TLC in Soft Capitalism

    Science.gov (United States)

    Hogan, Anna; Sellar, Sam; Lingard, Bob

    2016-01-01

    This paper provides a critical policy analysis of "The Learning Curve" (TLC) (2012), an initiative developed by the multinational edu-business, Pearson, in conjunction with the Economist Intelligence Unit. "TLC" exemplifies the commercialising of comparison and the efforts of edu-businesses to strategically position themselves…

  16. Credit Constraints and Determinants of the Cost of Capital in Vietnamese Manufacturing

    DEFF Research Database (Denmark)

    Rand, John

    2007-01-01

    This paper examines the extent to which borrowing constraints restrict firm access to credit and identifies individual, firm, and loan characteristics, which determine the cost of capital in Vietnamese manufacturing. Using direct information from a Vietnamese enterprise survey the paper shows...... to have the necessary time to go through the many administrative difficulties in the formal credit system if they want to "seize the day". Finally, collateralized loans face larger interest rates, explained by the significant influence of "policy lending" in Vietnamese credit markets...... that between 14 and 25% of the enterprises are credit constrained, and these enterprises would increase their debt holdings by between 40 and 115% if borrowing constraints were relaxed. Moreover, it emerges that informal credit markets play an important role for fast growing firms. Enterprises do not appear...

  17. A heat & mass integration approach to reduce capital and operating costs of a distillation configuration

    Energy Technology Data Exchange (ETDEWEB)

    Madenoor Ramapriya, Gautham [Purdue University; Jiang, Zheyu [Purdue University; Tawarmalani, Mohit [Purdue University; Agrawal, Rakesh [Purdue University

    2015-11-11

    We propose a general method to consolidate distillation columns of a distillation configuration using heat and mass integration. The proposed method encompasses all heat and mass integrations known till date, and includes many more. Each heat and mass integration eliminates a distillation column, a condenser, a reboiler and the heat duty associated with a reboiler. Thus, heat and mass integration can potentially offer significant capital and operating cost benefits. In this talk, we will study the various possible heat and mass integrations in detail, and demonstrate their benefits using case studies. This work will lay out a framework to synthesize an entire new class of useful configurations based on heat and mass integration of distillation columns.

  18. GAME THEORY: MINIMISING THE COST OF CAPITAL VS. MAXIMISING THE RETURN OF INVESTORS

    Directory of Open Access Journals (Sweden)

    Mihaela Brindusa Tudose

    2014-12-01

    Full Text Available The application of game theory to financial transactions focuses on two categories of stakeholders: users of financing (firms and providers of financing (investors. The core of game theory consists in the strategy that a partner is able to build starting from the possible decisions of the other partner (each party having opposing interests. In fact, we deal here with a cooperative game in which both opponents seek to maximise their own chances of winning. The article aims to highlight the manner in which mathematical game theory is transposed in the field of corporate finance by balancing the firm’s objectives (maximising market value by minimising the cost of raising capital and the investors’ objectives (maximising returns on investments. The intended novelty of this paper lies in developing a model for optimising a firm’s financial structure and assessing it in terms of investors’ interests.

  19. CNSS plant concept, capital cost, and multi-unit station economics

    Energy Technology Data Exchange (ETDEWEB)

    1984-07-01

    United Engineers and Constructors (UE and C) and the Babcock and Wilcox Company (B and W) have performed several studies over the last eight years related to small integral pressurized water reactors. These reactors include the 365 MWt (100 MWe) Consolidated Nuclear Steam Generator (CNSG) and the 1200 MWt Consolidated Nuclear Steam System (CNSS). The studies, mostly performed under contract to the Oak Ridge National Laboratory, have led to a 1250 MWt (400 MWe) Consolidated Nuclear Steam System (CNSS) plant concept, with unique design and cost features. This report contains an update of earlier studies of the CNSS reactor and balance-of-plant concept design, capital costs, and multi-unit plant economics incorporating recent design developments, improvements, and post-TMI-2 upgrades. The economic evaluation compares the total system economic impact of a phased, three stage 400 MWe CNSS implementation program, i.e., a three-unit station, to the installation of a single 1200 MWe Pressurized Water Reactor (PWR) into a typical USA utility system.

  20. Cost of soybean crop yield transgenic in Goias ( crop 2015/2016 equity x third capital

    Directory of Open Access Journals (Sweden)

    Sidney Jordan Silva

    2016-06-01

    Full Text Available Considering the data from the Ministry of Agriculture, in 2014 the Gross Domestic Product - Brazilian agricultural GDP accounted for about 23% of the total GDP of the Brazilian economy, in reais equivalent to R $ 1.1 trillion. And within it agriculture is represented in 70% of the production of agribusiness. Seen it, one sees Brazil's potential in this activity. Therefore, it is evident that this Montate production needs to be managed throughout the production cycle. This includes as a first step planting, a fact that needs initial investment to allow the harvest to the end of the process. Because of this it was thought what are the ways to start agricultural production. This work specifically measured the transgenic soybean crop in the state of Goiás. The source of the resource that defrayed the cost of production was studied. It found that can be made via bank through a rural financing or financing with own resources, considering that the farmer has this option when you start your planting. If the producer utilizasse own resources he would not receive the full amount calculated the profitability of Agribusiness Credit Bills - LCA. By financing the farmer will pay only the interest calculated if using all capital financed the formalization of the contract. And taking into account that the cost of financing ranges from planting to harvest, if the releases are gradually made the producer may also reduce the interest to be paid.

  1. Comparison between cylindrical and prismatic lithium-ion cell costs using a process based cost model

    Science.gov (United States)

    Ciez, Rebecca E.; Whitacre, J. F.

    2017-02-01

    The relative size and age of the US electric vehicle market means that a few vehicles are able to drive market-wide trends in the battery chemistries and cell formats on the road today. Three lithium-ion chemistries account for nearly all of the storage capacity, and half of the cells are cylindrical. However, no specific model exists to examine the costs of manufacturing these cylindrical cells. Here we present a process-based cost model tailored to the cylindrical lithium-ion cells currently used in the EV market. We examine the costs for varied cell dimensions, electrode thicknesses, chemistries, and production volumes. Although cost savings are possible from increasing cell dimensions and electrode thicknesses, economies of scale have already been reached, and future cost reductions from increased production volumes are minimal. Prismatic cells, which are able to further capitalize on the cost reduction from larger formats, can offer further reductions than those possible for cylindrical cells.

  2. Sustentabilidade empresarial e o impacto no custo de capital próprio das empresas de capital aberto Sustainable development and consequences for equity costs in public companies

    Directory of Open Access Journals (Sweden)

    Lílian Simone Aguiar da Silva

    2006-12-01

    Full Text Available Este trabalho apresenta o impacto no custo de capital próprio para as empresas brasileiras de capital aberto face à adoção dos princípios de sustentabilidade. O conceito de desenvolvimento sustentável tem se aprimorado num processo contínuo de reavaliação da relação existente entre: crescimento econômico, a sociedade civil e o meio ambiente. O triple-bottom-line das dimensões econômica, ambiental e social da sustentabilidade tem emergido como um modelo de interpretação pelas empresas, embora cada uma dessas dimensões represente um grande desafio. O segmento corporativo vem atendendo às demandas cada vez maiores da sociedade frente a essas questões, ficando a dúvida quanto à legitimidade dessas ações e o questionamento relativo ao papel das empresas na economia e na sociedade. Para avaliar o impacto no custo de capital próprio, foi implementado um modelo de decomposição do beta em medidas contábeis de risco, incluindo uma variável referente à sustentabilidade. O resultado confirma a expectativa de que ao aderir aos padrões de sustentabilidade a empresa reduz o risco corporativo medido pelo risco sistemático, determinando a redução do custo de capital e aumento do valor econômico.This article provides an analysis of equity costs in Brazilian public companies regarding the adoption of sustainability principles. The concept of sustainable development has evolved considering the relation among economic growth, the society and the environment. The triple-bottom-line of economic, environmental, and social dimensions has emerged as an interpretation model by companies, although each of these dimensions may present a challenge. The corporate sector has faced an increasing demand from society regarding these sustainability concepts, though the actions and the role to be played by companies within this context are still being questioned. Equity costs were analyzed by a multivariate regression of beta on accounting measures

  3. Perceptions of social capital and cost-related non-adherence to medication among the elderly.

    Science.gov (United States)

    Luz, Tatiana Chama Borges; Loyola Filho, Antônio Ignácio de; Lima-Costa, Maria Fernanda

    2011-02-01

    The aim of this study was to examine the association between social capital and cost-related non-adherence (CRN) in an elderly population, using data from 1,134 respondents to the Greater Metropolitan Belo Horizonte Health Survey. CRN was lower for those elderly with a better perception of attachment to their neighbourhoods (PR = 0.68; 95%CI: 0.50-0.94), with more social contacts (one to five, PR = 0.49; 95%CI: 0.30-0.80 and more than five, PR = 0.42; 95%CI: 0.26-0.67), and with private health insurance coverage (PR = 0.64; 95%CI: 0.45-0.93). Meanwhile, CRN was significantly higher for those with fair to poor self-rated health (PR =1.66; 95%CI: 0.95-2.90 and PR = 2.62; 95%CI: 1.46-4.71 respectively), with multiple comorbidities (two, PR = 3.45; 95%CI: 1.38-8.62 and three or more, PR = 4.42; 95%CI: 1.74-11.25), and with a lower frequency of physician-patient dialogue about health/treatment (rarely/never, PR = 1.91; 95%CI: 1.16-3.13). These findings highlight the need to take into account the social context in future research on CRN.

  4. Hospital Case Cost Estimates Modelling - Algorithm Comparison

    CERN Document Server

    Andru, Peter

    2008-01-01

    Ontario (Canada) Health System stakeholders support the idea and necessity of the integrated source of data that would include both clinical (e.g. diagnosis, intervention, length of stay, case mix group) and financial (e.g. cost per weighted case, cost per diem) characteristics of the Ontario healthcare system activities at the patient-specific level. At present, the actual patient-level case costs in the explicit form are not available in the financial databases for all hospitals. The goal of this research effort is to develop financial models that will assign each clinical case in the patient-specific data warehouse a dollar value, representing the cost incurred by the Ontario health care facility which treated the patient. Five mathematical models have been developed and verified using real dataset. All models can be classified into two groups based on their underlying method: 1. Models based on using relative intensity weights of the cases, and 2. Models based on using cost per diem.

  5. A zinc–iron redox-flow battery under $100 per kW h of system capital cost

    OpenAIRE

    Gong, Ke; Ma, Xiaoya; Kuttler, Kevin J.; Grunewald, Jonathan B.; Yeager, Kelsey L.; Bazant, Martin Z.; Gu, Shuang; Yan, Yushan; Conforti, Kameron Michael

    2015-01-01

    Redox flow batteries (RFBs) are one of the most promising scalable electricity-storage systems to address the intermittency issues of renewable energy sources such as wind and solar. The prerequisite for RFBs to be economically viable and widely employed is their low cost. Here we present a new zinc–iron (Zn–Fe) RFB based on double-membrane triple-electrolyte design that is estimated to have under $100 per kW h system capital cost. Such a low cost is achieved by a combination of inexpensive r...

  6. Levelised unit electricity cost comparison of alternate technologies for baseload generation in Ontario

    Energy Technology Data Exchange (ETDEWEB)

    Ayres, M.; McRae, M.; Stogran, M.

    2004-08-15

    This report provides a comparison of the lifetime cost of constructing, operating and decommissioning new generation suitable for supplying baseload power by early in the next decade. New baseload generation options in Ontario are nuclear, coal-fired steam turbines or combined cycle gas turbines (CCGT). Nuclear and coal-fired units are characterised by high capital costs and low operating costs. As such, they are candidates for baseload operation only. Gas-fired generation is characterised by lower capital costs and higher operating costs and thus may meet the requirements for operation as peaking and/or baseload generation. The comparison of baseload generating technologies is made by reference to the estimated levelised unit electricity cost (LUEC). The LUEC can be thought of as a 'supply cost', where the unit cost is the price needed to recover all costs over the period. It is determined by finding the price that sets the sum of all future discounted cash flows (net present value, or NPV) to zero. It can also be thought of as representing the constant real wholesale price of electricity that meets the financing cost, debt repayment, income tax and cash flow constraints associated with the construction operation and decommissioning of a generating plant. Levelised unit cost comparisons are usually made with different sets of financing assumptions. This report considers two base cases, which we describe as 'merchant' and 'public' financing. The term 'merchant plant' is used to refer to ones that are built and operated by private investors. These investors pay for their capital through debt and by raising equity, and thus pay return on equity and interest on debt throughout their lifetime. These projects include income taxes, both provincial and federal. Publicly financed projects typically are not subject to income taxes or to the same constraints on raising finance through issuing debt and equity. However, they are

  7. Wind energy in Brazil. Systemic risks and the cost of the own capital in the context of the cleaning development mechanism; Energia eolica no Brasil. Riscos sistemicos e o custo do capital proprio no contexto do mecanismo de desenvolvimento limpo

    Energy Technology Data Exchange (ETDEWEB)

    Lisboa, Cristines [IBMEC, Rio de Janeiro, RJ (Brazil)], E-mail: cristines.lisboa@gmail.com; Hauser, Philip, E-mail: philipphauser@web.de; Medeiros, Anamelia, E-mail: anameliam@yahoo.com.br

    2010-07-01

    This paper analyses the capital cost of technology based on the CDM rules and the financial practice established and applied by the ANEEL, viewing the establishment of a reference rate for the discussion of financial additional of the projects.

  8. Optimal Dividend and Dynamic Reinsurance Strategies with Capital Injections and Proportional Costs

    Institute of Scientific and Technical Information of China (English)

    Yi-dong WU; Jun-yi GUO

    2012-01-01

    We consider an optimization problem of an insurance company in the diffusion setting,which controls the dividends payout as well as the capital injections.To maximize the cumulative expected discounted dividends minus the penalized discounted capital injections until the ruin time,there is a possibility of (cheap or non-cheap) proportional reinsurance.We solve the control problems by constructing two categories of suboptimal models,one without capital injections and one with no bankruptcy by capital injection.Then we derive the explicit solutions for the value function and totally characterize the optimal strategies.Particularly,for cheap reinsurance,they are the same as those in the model of no bankruptcy.

  9. Privatization and the Corporate Cost of Capital in New Zealand: An Application of Fama and French (1999)

    OpenAIRE

    2005-01-01

    Fama and French’s (1999) internal rate of return method is applied to Datastream data from 1993-2001 for 81 non-financial firms listed on the New Zealand Stock Exchange. The nominal return on value is 7.09%. The real return on value is 5.07%. The nominal return on cost is 11.59%. The real return on cost is 9.48%. The 10 former state-owned enterprises have nominal and real returns significantly higher than the 71other publicly-listed companies and their capital structures and market-to-book ...

  10. The Feasibility and Current Estimated Capital Costs of Producing Jet Fuel at Sea Using Carbon Dioxide and Hydrogen

    Science.gov (United States)

    2010-09-29

    1,250,000,000 In addition to the electrolysis units, commercial reactors and carbon capture materials must also be accounted for in the overall cost of a jet...Power The U.S. Navy’s Nimitz class aircraft carriers are powered by two nuclear fission pressurized water reactors (PWRs) capable of producing a...total minimum of 275 MW of power [16]. The estimated capital cost of these light water reactors (L WR) is 1,200 dollars per kilowatt of electricity

  11. Cross-national comparison of capitation funding: the American, British and Dutch experience.

    Science.gov (United States)

    Persaud, D; Narine, L

    1999-05-01

    In this paper we review the performance of the capitation payment systems of three countries--the Adjusted Average Per Capita Cost (AAPCC) system used in the United States to reimburse Health Maintenance Organizations (HMOs) for insuring Medicare recipients, a somewhat similar system in the Netherlands which reimburses third-party payers for insuring the entire population and a weighted system utilized in Britain for regional funding. Our review revealed significant problems with the current version of the AAPCC formula as there is evidence of the biased selection of beneficiaries and actual losses to Medicare through its use. Furthermore, several studies show that the demographic adjusters utilized in the AAPCC formula are extremely poor predictors of future healthcare utilization relative to the potential of direct and indirect health status measures. The Dutch experience with capitated funding has been similar to that of the United States. While Dutch researchers have built on the work of their American counterparts they acknowledge that further work is needed before a fully functional system is implemented. Britain's weighted system has fulfilled its original mandate to redistribute healthcare resources based on population need but recent changes giving increased influence to age weighting could reverse some of these gains. A number of proposed improvements to these risk adjustment problems were reviewed including the development of diagnostic cost groups, the coexisting hierarchical conditions model and the use of community-rated high-risk pooling. The findings from this study can help others narrow the alternatives they need to consider when thinking of introducing capitation funding or refining already existing systems.

  12. Investigation of Iterative Algorithms for Evaluation of Capital Structure and Cost

    Directory of Open Access Journals (Sweden)

    Vigen Minasyan

    2014-01-01

    Full Text Available Determination of structure and correct calculation of a company’s capital value is an essential; theoretical and practical problem for corporate finance. The proportion between the company’s equity and borrowed capital determines the risk and profitability of the company and, consequently, the welfare of its owners. The most common recommendation is to evaluate the stricture of capital based on market proportions between indebtedness and equity. However, market proportions most often deviate from values obtained through analytical calculations. This means that weak efficiency of the market brings about inconsistency between the input data and the results, which are calculated from them. Second, not all companies have a representative market quotation. There is a question, then: how can we correctly evaluate capital and its market structure for individual projects and companies in general? The work presented below is dedicated to the iterative method for evaluation of fair structure of capital as suggested in (Limitovsky M.A., Minasyan V.B. 2010, and to the proving of consistency of this method for a very large number of companies.

  13. Market value calculation and the solution of circularity between value and the weighted average cost of capital WACC

    Directory of Open Access Journals (Sweden)

    Ignacio Vélez-Pareja

    2009-12-01

    Full Text Available Most finance textbooks present the Weighted Average Cost of Capital (WACC calculation as: WACC = Kd×(1-T×D% + Ke×E%, where Kd is the cost of debt before taxes, T is the tax rate, D% is the percentage of debt on total value, Ke is the cost of equity and E% is the percentage of equity on total value. All of them precise (but not with enough emphasis that the values to calculate D% y E% are market values. Although they devote special space and thought to calculate Kd and Ke, little effort is made to the correct calculation of market values. This means that there are several points that are not sufficiently dealt with: Market values, location in time, occurrence of tax payments, WACC changes in time and the circularity in calculating WACC. The purpose of this note is to clear up these ideas, solve the circularity problem and emphasize in some ideas that usually are looked over. Also, some suggestions are presented on how to calculate, or estimate, the equity cost of capital.

  14. DO FINANCIAL STATEMENTS PROVIDE ADEQUATE INFORMATION ABOUT THE CAPITALIZATION OF COSTS RELATED TO INTANGIBLE ASSETS?: AN EMPIRICAL RESEARCH ON ITALIAN LISTED COMPANIES

    OpenAIRE

    Vignini, Stefania

    2015-01-01

    The aim of our research is to verify if Italian listed companies financial statements provide adequate information about the capitalization of costs related to intangible assets and if the information provided are reliable. Moreover, we investigated if they merely comply with law or provide additional information on cost capitalization and reveal if internal control systems (especially managerial accounting systems) or other information systems are applied to support the measurement proces...

  15. Comparison of high-speed rail and maglev system costs

    Energy Technology Data Exchange (ETDEWEB)

    Rote, D.M.

    1998-07-01

    This paper compares the two modes of transportation, and notes important similarities and differences in the technologies and in how they can be implemented to their best advantage. Problems with making fair comparisons of the costs and benefits are discussed and cost breakdowns based on data reported in the literature are presented and discussed in detail. Cost data from proposed and actual construction projects around the world are summarized and discussed. Results from the National Maglev Initiative and the recently-published Commercial Feasibility Study are included in the discussion. Finally, estimates will be given of the expected cost differences between HSR and maglev systems implemented under simple and complex terrain conditions. The extent to which the added benefits of maglev technology offset the added costs is examined.

  16. THE RELATIONSHIP BETWEEN THE COST OF EDUCATION AND THE HUMAN CAPITAL. THE ALIGNEMENT OF ROMANIA TO THE EUROPEAN STANDARDS

    Directory of Open Access Journals (Sweden)

    IOANA-JULIETA JOSAN

    2012-05-01

    Full Text Available Once with the development of the human capital theory, the education received an economic value, which is a quality variable of human resources and the main determinant of economic growth. The famed economists have shown that the remarkable economic effects of the investments in education influence the chances of acquiring a job and earnings, demonstrating how the theory justifies such an investment. Human capital approach allows also estimating the costs of education in schools and higher education, as well as the profits that comes out of it. Thus, the human capital theory is primarily focused on the demand for education. Moreover, the objective function of the state, in terms of education, contains itself two contradictory arguments: the state, theoretically, is a representative and guarantor of the collective good and its organizer; the state will seek to maximize individual education on the one hand and on the other hand will search for the optimization of the relationship between professional training and formal education. Also, in the context of recent years, the budgetary constraints are raising the problem of optimal allocation of the resources, as well as the funding of the performance of the educational services. The particularities, in terms of flexibility and cumulative distribution of the investment levels in the human factors, are translated into a practical action in the sense that global competition, from which Romania cannot decouple. In the long run, there are winning and resisting only those with academic flexible formation and the intelligent persons. Considering the above arguments, the purpose of this paper is to analyze the main characteristics of funding mechanisms for education systems, the volume of spending on education and ways of managing the resources allocated to the education. The cost allocation for education in Romania is investigated in terms of government policies, but also in terms of human capital theory

  17. THE RELATIONSHIP BETWEEN THE COST OF EDUCATION AND THE HUMAN CAPITAL. THE ALIGNEMENT OF ROMANIA TO THE EUROPEAN STANDARDS

    Directory of Open Access Journals (Sweden)

    Ioana-Julieta JOSAN

    2012-11-01

    Full Text Available Once with the development of the human capital theory, the education received an economic value, which is a quality variable of human resources and the main determinant of economic growth.The famed economists have shown that the remarkable economic effects of the investments in education influence the chances of acquiring a job and earnings, demonstrating how the theory justifies such an investment. Human capital approach allows also estimating the costs of education in schools and higher education, as well as the profits that comes out of it. Thus, the human capital theory is primarily focused on the demand for education. Moreover, the objective function of the state, in terms of education, contains itself two contradictory arguments: the state, theoretically, is a representative and guarantor of the collective good and its organizer; the state will seek to maximize individual education on the one hand and on the other hand will search for the optimization of the relationship between professional training and formal education. Also, in the context of recent years, the budgetary constraints are raising the problem of optimal allocation of the resources, as well as the funding of the performance of the educational services. The particularities, in terms of flexibility and cumulative distribution of the investment levels in the human factors, are translated into a practical action in the sense that global competition, from which Romania cannot decouple. In the long run, there are winning and resisting only those with academic flexible formation and the intelligent persons. Considering the above arguments, the purpose of this paper is to analyze the main characteristics of funding mechanisms for education systems, the volume of spending on education and ways of managing the resources allocated to the education. The cost allocation for education in Romania is investigated in terms of government policies, but also in terms of human capital theory

  18. Geography and the costs of urban energy infrastructure: The case of electricity and natural gas capital investments

    Science.gov (United States)

    Senyel, Muzeyyen Anil

    Investments in the urban energy infrastructure for distributing electricity and natural gas are analyzed using (1) property data measuring distribution plant value at the local/tax district level, and (2) system outputs such as sectoral numbers of customers and energy sales, input prices, company-specific characteristics such as average wages and load factor. Socio-economic and site-specific urban and geographic variables, however, often been neglected in past studies. The purpose of this research is to incorporate these site-specific characteristics of electricity and natural gas distribution into investment cost model estimations. These local characteristics include (1) socio-economic variables, such as income and wealth; (2) urban-related variables, such as density, land-use, street pattern, housing pattern; (3) geographic and environmental variables, such as soil, topography, and weather, and (4) company-specific characteristics such as average wages, and load factor. The classical output variables include residential and commercial-industrial customers and sales. In contrast to most previous research, only capital investments at the local level are considered. In addition to aggregate cost modeling, the analysis focuses on the investment costs for the system components: overhead conductors, underground conductors, conduits, poles, transformers, services, street lighting, and station equipment for electricity distribution; and mains, services, regular and industrial measurement and regulation stations for natural gas distribution. The Box-Cox, log-log and additive models are compared to determine the best fitting cost functions. The Box-Cox form turns out to be superior to the other forms at the aggregate level and for network components. However, a linear additive form provides a better fit for end-user related components. The results show that, in addition to output variables and company-specific variables, various site-specific variables are statistically

  19. Operative Cost Comparison: Plating Versus Intramedullary Fixation for Clavicle Fractures.

    Science.gov (United States)

    Hanselman, Andrew E; Murphy, Timothy R; Bal, George K; McDonough, E Barry

    2016-09-01

    Although clavicle fractures often heal well with nonoperative management, current literature has shown improved outcomes with operative intervention for specific fracture patterns in specific patient types. The 2 most common methods of midshaft clavicle fracture fixation are intramedullary and plate devices. Through retrospective analysis, this study performed a direct cost comparison of these 2 types of fixation at a single institution over a 5-year period. Outcome measures included operative costs for initial surgery and any hardware removal surgeries. This study reviewed 154 patients (157 fractures), and of these, 99 had intramedullary fixation and 58 had plate fixation. A total of 80% (79 of 99) of intramedullary devices and 3% (2 of 58) of plates were removed. Average cost for initial intramedullary placement was $2955 (US dollars) less than that for initial plate placement (Pcost for removal was $1874 less than that for plate removal surgery (P=.2). Average total cost for all intramedullary surgeries was $1392 less than the average cost for all plating surgeries (Pcost for all intramedullary surgeries requiring plate placement and removal was $653 less than the average cost for all plating surgeries that involved only placement (P=.04). Intramedullary fixation of clavicle fractures resulted in a statistically significant cost reduction compared with plate fixation, despite the incidence of more frequent removal surgeries. [Orthopedics.2016; 39(5):e877-e882.].

  20. A comparison of NEAR actual spacecraft costs with three parametric cost models

    Science.gov (United States)

    Mosher, Todd J.; Lao, Norman Y.; Davalos, Evelyn T.; Bearden, David A.

    1999-11-01

    Costs for modern (post-1990) U.S.-built small planetary spacecraft have been shown to exhibit significantly different trends from those of larger spacecraft. These differences cannot be accounted for simply by the change in size alone. Some have attributed this departure to NASA's "faster, better, cheaper" design approach embodied by the efficiency of smaller teams, reduced government oversight, increased focus on cost, and short development periods. With the Discovery, Mars Surveyor and New Millennium programs representing the new approach to planetary exploration, it is important to understand these current cost trends and to be able to estimate costs of future proposed missions. To address this issue, The Aerospace Corporation (hereafter referred to as Aerospace) performed a study to compare the actual costs of the Near Earth Asteroid Rendezvous (NEAR) spacecraft bus (instruments were not estimated) using three different cost models; the U.S. Air Force Unmanned Spacecraft Cost Model, Version 7 (USCM-7), the Science Applications International Corporation (SAIC) NASA/Air Force Cost Model 1996 (NAFCOM96) and The Aerospace Corporation's Small Satellite Cost Model 1998 (SSCM98). The NEAR spacecraft was chosen for comparison because it was the first Discovery mission launched, and recently recognized with a Laurel award by Aviation Week and Space Technology as a benchmark for NASA's Discovery program [North, 1997]. It was also selected because the cost data has been released into the public domain [Hemmings, 1996]which makes it easy to discuss in a public forum. This paper summarizes the NEAR program, provides a short synopsis of each of the three cost models, and demonstrates how they were applied for this study.

  1. 公司现金流与资本成本研究%On Corporate, Cash Flow and Capital Cost

    Institute of Scientific and Technical Information of China (English)

    马克林

    2015-01-01

    The investment formed capital over a period of time gives the company a sustainable cash flow , and cash flow to a discount rate that is used to meet the total risk of the company is the market value of the company . Meanwhile , the cash flow generated by the company ’ s assets can basically be divided into pay interest , taxes and shareholders income , and the three are discounted by different discount rate and the total value may also mean the company’s market value.This indicates that the company ’s market value has nothing to do with the proportion of the interest , taxes and the shareholders ’ income in the company ’ s total cash flow , and the company ’ s weighted cost of capital has nothing to do with the interest , taxes, and shareholders’ income value ratio.Therefore, it is be-lieved that there are no connections between corporate value , capital cost and capital structure .%公司投资而形成的资本经过一段时间会给公司带来一个持续的现金流,将该现金流用一个与公司总风险相适应的折现率折现而求得的价值即是公司的市场价值。同时,公司资产产生的现金流基本上可以分解为支付利息、税收和股东所得,三者分别按不同的折现率进行折现后所得的现价值之和也表示公司的市场价值。这表明公司的市场价值与利息、税收、股东所得在公司总现金流中的比例无关,而公司的加权资本成本与利息、税收、股东所得三者现价值比例也没有关系。因此,可以认为,资本结构同资本成本与公司价值无关。

  2. CONSTANT LEVERAGE AND CONSTANT COST OF CAPITAL: A COMMON KNOWLEDGE HALF-TRUTH

    Directory of Open Access Journals (Sweden)

    IGNACIO VÉLEZ-PAREJA

    2008-01-01

    Full Text Available Un enfoque típico para valorar flujos de caja finitos es suponer que el endeudamiento es constante (generalmente como un endeudamiento objetivo o deseado y que por tanto, el costo del patrimonio, Ke y el costo promedio ponderado de capital CPPC, también son constantes. Para los flujos de caja perpetuos, y con el costo de la deuda, Kd como la tasa de descuento para el ahorro en impuestos o escudo fiscal, Ke y el CPPC aplicado al flujo de caja libre FCL son constantes si el endeudamiento es constante. Sin embargo esto no es verdad para los flujos de caja finitos. En este documento mostramos que para flujos de caja finitos, Ke y por lo tanto el CPPC dependen de la tasa de descuento que se utiliza para valorar el ahorro en impuestos, AI y según lo esperado, Ke y el CPPC no son constantes con Kd como la tasa de descuento para el ahorro en impuestos, aunque el endeudamiento sea constante. Ilustramos esta situación con un ejemplo simple. Analizamos cinco métodos: el flujo de caja descontado, FCD, usando APV, el FCD y la formulación tradicional y general del CPPC, el valor presente del flujo de caja del accionista, FCA más deuda y el flujo de caja de capital, FCC.

  3. Financial development and the cost of equity capital:Evidence from China

    Institute of Scientific and Technical Information of China (English)

    Jeong-Bon; Kim; Mary; L.Z.Ma; Haiping; Wang

    2015-01-01

    This study examines the relation between province-level financial development and the cost of equity in China.Our main findings are that(1)stock market development reduces the cost of equity in general,but the effect diminishes significantly in state-owned enterprises(SOEs)and firms with high growth potential or innovation intensity and(2)banking development only marginally lowers the cost of equity,but the effect is stronger in non-SOEs.Further analysis reveals that stock market development substitutes for such institutional factors as accounting quality,law enforcement,stock market integration and the split-share structure reform in lowering the cost of equity.We also find that lack of banking competition and banking marketization and under-development of the non-state economy partially account for the weak effect of banking development on the cost of equity.

  4. The cost of ethanol production from lignocellulosic biomass -- A comparison of selected alternative processes. Final report

    Energy Technology Data Exchange (ETDEWEB)

    Grethlein, H.E.; Dill, T.

    1993-04-30

    The purpose of this report is to compare the cost of selected alternative processes for the conversion of lignocellulosic biomass to ethanol. In turn, this information will be used by the ARS/USDA to guide the management of research and development programs in biomass conversion. The report will identify where the cost leverages are for the selected alternatives and what performance parameters need to be achieved to improve the economics. The process alternatives considered here are not exhaustive, but are selected on the basis of having a reasonable potential in improving the economics of producing ethanol from biomass. When other alternatives come under consideration, they should be evaluated by the same methodology used in this report to give fair comparisons of opportunities. A generic plant design is developed for an annual production of 25 million gallons of anhydrous ethanol using corn stover as the model substrate at $30/dry ton. Standard chemical engineering techniques are used to give first order estimates of the capital and operating costs. Following the format of the corn to ethanol plant, there are nine sections to the plant; feed preparation, pretreatment, hydrolysis, fermentation, distillation and dehydration, stillage evaporation, storage and denaturation, utilities, and enzyme production. There are three pretreatment alternatives considered: the AFEX process, the modified AFEX process (which is abbreviated as MAFEX), and the STAKETECH process. These all use enzymatic hydrolysis and so an enzyme production section is included in the plant. The STAKETECH is the only commercially available process among the alternative processes.

  5. Effects of the cost of capital for companies financing decisions%资金成本对企业筹资决策的影响研究

    Institute of Scientific and Technical Information of China (English)

    薛冰峰

    2015-01-01

    决定企业发展的根本因素就是企业的资金成本,而且资金成本对企业筹资决策还起到了非常重要的作用,筹资是企业扩大规模的一种方式,怎样在筹资决策中调整资本结构受到了业界的普遍重视。本文将对资金成本在筹资决策中的作用进行分析阐述,并分析选择适合的筹资方式来降低资金成本的方法。%The fundamental factors that determine the development of enterprises is the company's cost of capital, and the cost of capital for corporate financing decisions also played a very important role in corporate financing is a way to expand the scale and how to adjust the capital structure of the financing decisions by the industry universal attention. This paper will effect the cost of capital in the financing decisions were analyzed and discussed and analyzed to choose the financing method to reduce the cost of capital.

  6. Aagesta-BR3 Decommissioning Cost. Comparison and Benchmarking Analysis

    Energy Technology Data Exchange (ETDEWEB)

    Varley, Geoff [NAC International, Henley on Thames (United Kingdom)

    2002-11-01

    This report presents the results of decommissioning cost analyses focusing on discrete working packages within the decommissioning program of the BR3 reactor in Mol, Belgium and comparison of them with cost estimate data for the Aagesta research reactor in Sweden. The specific BR3 work packages analysed were: Primary coolant piping decontamination; Primary coolant piping dismantling; Vulcain reactor internals dismantling; Westinghouse reactor internals dismantling; Reactor vessel dismantling. The main conclusions to be drawn from the analyses are that: The fixed costs related to decontamination and dismantling activities generally are a very important part of the overall resources needed to execute the work, with the Reactor Pressure Vessel (RPV) seemingly being significantly more demanding than other major components. Cutting activities tend to need something like 150 to 200 labour hours per m{sup 2} of reactor equipment dismantled. Fixed investment costs to set up the equipment needed to cut up major vessels or internals appear to be in the range of MSEK 4 to 8. Consumables costs vary according to the nature of the equipment being dismantled. The thicker the metal being cut, the higher the attrition rate for things such as cutting blades. The range of consumables costs at BR3 have been in the range of MSEK 0.1 to 0.2/m{sup 2} dismantled. The extent of detailed information available in the 1996 Aagesta estimate is not sufficient to enable a full comparison with the BR3 decommissioning results. A global first comparison has been attempted by summing the resources expended on the BR3 work packages described in this report with the combined dismantling data presented in the 1996 Aagesta cost estimate report. Very broadly the cost of decontamination plus dismantling of the main process equipment at Aagesta appears to be in the order of MSEK 70, of which MSEK 4 is labour on preparatory/planning work, MSEK 40 is labour on actual decontamination and dismantling and MSEK

  7. Social capital and transaction cost on co-creating IT value towards inter-organizational EMR exchange.

    Science.gov (United States)

    Chang, Hsin Hsin; Hung, Chung-Jye; Huang, Ching Ying; Wong, Kit Hong; Tsai, Yi Ju

    2017-01-01

    This study adopts social capital theory and transaction cost theory to explore the feasibility of an inter-organizational cross-hospital electronic medical records (EMR) exchange system, and the factors that affect its adoption. The concept of value co-creation is also used to assess such a system, and its influence on the performance of participating medical institutes. This research collected 330 valid paper-based questionnaires from the medical staff of various institutes. The results showed that social interaction ties and shared vision positively affected medical institutes' willingness to adopt the EMR exchange system, while asset specificity and uncertainty increased the related transaction costs. With a greater willingness to invest in relation-specific assets and to meet the related transaction costs, this behavior lead to an increase in medical IT value, as well as better results for the related medical institutes, medical staff, and patients. Therefore, this study suggests that such institutes encourage their medical staff to participate in seminars or reunions in order to develop their professional and social networks, and set up clear schedules and desire for expected effects when introducing the cross-hospital EMR exchange system.

  8. Capital cost: high and low sulfur coal plants-1200 MWe. [For low sulfur coal

    Energy Technology Data Exchange (ETDEWEB)

    1977-01-01

    This Commercial Electric Power Cost Study for 1200 MWe (Nominal) high and low sulfur coal plants consists of three volumes. The high sulfur coal plant is described in Volumes I and II, while Volume III describes the low sulfur coal plant. The design basis and cost estimate for the 1232 MWe high sulfur coal plant is presented in Volume I, and the drawings, equipment list and site description are contained in Volume II. The reference design includes a lime flue gas desulfurization system. A regenerative sulfur dioxide removal system using magnesium oxide is also presented as an alternate in Section 7 V olume II. The design basis, drawings and summary cost estimate for a 1243 MWe low sulfur coal plant are presented in Volume III. This information was developed by redesigning the high sulfur coal plant for burning low sulfur sub-bituminous coal. These coal plants utilize a mechanical draft (wet) cooling tower system for condenser heat removal. Costs of alternate cooling systems are provided in Report No. 7 in this series of studies of costs of commercial electrical power plants.

  9. Capital cost: high and low sulfur coal plants-1200 MWe. [High sulfur coal

    Energy Technology Data Exchange (ETDEWEB)

    1977-01-01

    This Commercial Electric Power Cost Study for 1200 MWe (Nominal) high and low sulfur coal plants consists of three volumes. The high sulfur coal plant is described in Volumes I and II, while Volume III describes the low sulfur coal plant. The design basis and cost estimate for the 1232 MWe high sulfur coal plant is presented in Volume I, and the drawings, equipment list and site description are contained in Volume II. The reference design includes a lime flue gas desulfurization system. A regenerative sulfur dioxide removal system using magnesium oxide is also presented as an alternate in Section 7 Volume II. The design basis, drawings and summary cost estimate for a 1243 MWe low sulfur coal plant are presented in Volume III. This information was developed by redesigning the high sulfur coal plant for burning low sulfur sub-bituminous coal. These coal plants utilize a mechanical draft (wet) cooling tower system for condenser heat removal. Costs of alternate cooling systems are provided in Report No. 7 in this series of studies of costs of commercial electrical power plants.

  10. A proposal for evaluation of the owner capital cost for the Brazilian electric power sector; Uma proposta de avaliacao do custo do capital proprio para o setor de energia eletrica brasileiro

    Energy Technology Data Exchange (ETDEWEB)

    Serrano, Ricardo Oliveira L.

    2003-12-01

    This work studies the owner capital cost of the brazilian electric sector, according to three methods: Comparable Accounting Earnings, that uses historical values in its measuring and Discounted Cash Flow (DCF) and the Capital Asset Pricing Model (CAPM), elaborated from the expected values. The obtained results by using the CAE method showed that the Brazilian electric sector has not been rewarded in its real necessity of maintenance and expansion. From this observation, it was considered appropriated not to take this method in the methodology presently proposed, which will be using only the single average of the CAPM and DCF models. The use of the results single average of this model presents the advantage of selecting specific characteristics of each one, and diluting the effects of occasional peak values. The owner capital cost obtained from this work was the average value of 19.73% for the studied period - 1995/2003 (17.12% for 2003), proximate to the obtained result by ANEEL - brazilian agency of electric power - for investments in energy distribution in Brazil, 17.47%, while Minardi and Sanvicente (2003) obtained 36.06% for the owner capital cost of CEMIG in 2002, specifically.

  11. Capital cost: low- and high-sulfur coal plants, 800 MWe

    Energy Technology Data Exchange (ETDEWEB)

    1977-01-01

    This Commercial Electric Power Cost Study for 800-MWe (Nominal) high- and low-sulfur coal plants consists of three volumes. The low-sulfur coal plant is described in Volumes I and II, while Volume III describes the high-sulfur coal plant. The design basis and cost estimate for the 801-MWe low sulfur coal plant is presented in Volume I, and the drawings, equimpment list, and site description are contained in Volume II. The design basis, drawings, and summary cost estimate for a 794-MWe high-sulfur coal plant are presented in Volume III. This information was developed by redesigning the low-sulfur sub-bituminous coal plant for burning high-sulfur bituminous coal. The reference design includes a lime flue-gas desulfurization system. These coal plants utilize a mechanical draft (wet) cooling tower system for condenser heat removal.

  12. Comparison of Cloud backup performance and costs in Oracle database

    Directory of Open Access Journals (Sweden)

    Aljaž Zrnec

    2011-06-01

    Full Text Available Normal 0 21 false false false SL X-NONE X-NONE Current practice of backing up data is based on using backup tapes and remote locations for storing data. Nowadays, with the advent of cloud computing a new concept of database backup emerges. The paper presents the possibility of making backup copies of data in the cloud. We are mainly focused on performance and economic issues of making backups in the cloud in comparison to traditional backups. We tested the performance and overall costs of making backup copies of data in Oracle database using Amazon S3 and EC2 cloud services. The costs estimation was performed on the basis of the prices published on Amazon S3 and Amazon EC2 sites.

  13. Reducing the company weighted cost-of-capital by use of Management Commentary transparency in SMEs

    DEFF Research Database (Denmark)

    Schøler, Finn

    the cost of financing through credit institutions or improve the supplier accepted creditworthiness. This paper demonstrates empirically that there is a strong relationship between corporate transparency through use of an extensive management commentary and partly the financial costs, partly creditor......In a stakeholder perspective, this paper deals with information transparency through use of the management commentary as a means to improve the relation to other stakeholders than shareholders in (smaller) non-listed companies (SME’s). Some of the main incentives for doing this could be to reduce...

  14. The Evolution of Capitalism: A Comparison of British and American Literature

    Science.gov (United States)

    Stanwick, Peter A.

    2016-01-01

    This paper discusses the evolution of capitalism in British and American literature. The impact of capitalism on the lives of individuals has been well represented in both American and British literature throughout the centuries. The paper will discuss how seminal British authors such as Thomas More, William Shakespeare, Charles Dickens and George…

  15. Education, Human Capital Enhancement and Economic Development--Comparison between Korea and Taiwan.

    Science.gov (United States)

    Lee, Maw-Lin; And Others

    1994-01-01

    Examines major determinants of economic development in South Korea and Taiwan. Investigates the role of human capital, measured by educational attainment, in driving output growth and enlarging the labor income share. Physical capital accumulation and export expansion affected output growth in both nations. Although technical progress…

  16. Achieving ‘best value’ for the community by deployment of risk based cost estimation using Monte-Carlo Simulation to rate-payer-funded capital intensive road projects.

    Directory of Open Access Journals (Sweden)

    Mahender Rao

    2014-09-01

    Full Text Available This paper presents the application and validation of a new tool developed by the first author for accurate risk-based estimation of project budgets. Typical capital intensive projects to which this tool can be applied include road reconstruction, road resheet and road rehabilitation projects. Quantitative risk analysis and stochastic modeling using Monte -Carlo simulation is embedded in the algorithms of the computer code. The tool forecasts a range of possible project costs and the probability of the occurrence of those costs by taking into account uncertainties and associated risks. Application of the tool to capital intensive road projects designed by the second author and constructed in 2011 & 2012 demonstrates its validity and utility. Comparisons of forecasted estimates using this tool with actual costs and with traditional deterministic methods of cost estimation (such as --point base-case estimates inclusive of contingency provide valuable insights that can aid management in evaluating alternatives and in making informed decisions when estimating and allocating budgets to a portfolio of road projects.

  17. Supercritical Carbon Dioxide Power Generation System Definition: Concept Definition and Capital Cost Estimate

    Energy Technology Data Exchange (ETDEWEB)

    Stoddard, Larry [Black & Veatch, Kansas City, MO (United States); Galluzzo, Geoff [Black & Veatch, Kansas City, MO (United States); Andrew, Daniel [Black & Veatch, Kansas City, MO (United States); Adams, Shannon [Black & Veatch, Kansas City, MO (United States)

    2016-06-30

    The Department of Energy’s (DOE’s) Office of Renewable Power (ORP) has been tasked to provide effective program management and strategic direction for all of the DOE’s Energy Efficiency & Renewable Energy’s (EERE’s) renewable power programs. The ORP’s efforts to accomplish this mission are aligned with national energy policies, DOE strategic planning, EERE’s strategic planning, Congressional appropriation, and stakeholder advice. ORP is supported by three renewable energy offices, of which one is the Solar Energy Technology Office (SETO) whose SunShot Initiative has a mission to accelerate research, development and large scale deployment of solar technologies in the United States. SETO has a goal of reducing the cost of Concentrating Solar Power (CSP) by 75 percent of 2010 costs by 2020 to reach parity with base-load energy rates, and 30 percent further reductions by 2030. The SunShot Initiative is promoting the implementation of high temperature CSP with thermal energy storage allowing generation during high demand hours. The SunShot Initiative has funded significant research and development work on component testing, with attention to high temperature molten salts, heliostats, receiver designs, and high efficiency high temperature supercritical CO2 (sCO2) cycles. DOE retained Black & Veatch to support SETO’s SunShot Initiative for CSP solar power tower technology in the following areas: 1. Concept definition, including costs and schedule, of a flexible test facility to be used to test and prove components in part to support financing. 2. Concept definition, including costs and schedule, of an integrated high temperature molten salt (MS) facility with thermal energy storage and with a supercritical CO2 cycle generating approximately 10MWe. 3. Concept definition, including costs and schedule, of an integrated high temperature falling particle facility with thermal energy storage and with a supercritical CO2 cycle

  18. Consecuencias de las prácticas de sostenibilidad en el coste de capital y en la reputación corporativa

    Directory of Open Access Journals (Sweden)

    Jennifer Martínez Ferrero

    2014-07-01

    Los resultados tras aplicar una metodología para datos de panel confirman cómo las prácticas de sostenibilidad son valoradas positivamente por los inversores y otros stakeholders, generando un efecto positivo en la reputación empresarial y un menor coste de capital.

  19. Neighborhood social capital and crime victimization: comparison of spatial regression analysis and hierarchical regression analysis.

    Science.gov (United States)

    Takagi, Daisuke; Ikeda, Ken'ichi; Kawachi, Ichiro

    2012-11-01

    Crime is an important determinant of public health outcomes, including quality of life, mental well-being, and health behavior. A body of research has documented the association between community social capital and crime victimization. The association between social capital and crime victimization has been examined at multiple levels of spatial aggregation, ranging from entire countries, to states, metropolitan areas, counties, and neighborhoods. In multilevel analysis, the spatial boundaries at level 2 are most often drawn from administrative boundaries (e.g., Census tracts in the U.S.). One problem with adopting administrative definitions of neighborhoods is that it ignores spatial spillover. We conducted a study of social capital and crime victimization in one ward of Tokyo city, using a spatial Durbin model with an inverse-distance weighting matrix that assigned each respondent a unique level of "exposure" to social capital based on all other residents' perceptions. The study is based on a postal questionnaire sent to 20-69 years old residents of Arakawa Ward, Tokyo. The response rate was 43.7%. We examined the contextual influence of generalized trust, perceptions of reciprocity, two types of social network variables, as well as two principal components of social capital (constructed from the above four variables). Our outcome measure was self-reported crime victimization in the last five years. In the spatial Durbin model, we found that neighborhood generalized trust, reciprocity, supportive networks and two principal components of social capital were each inversely associated with crime victimization. By contrast, a multilevel regression performed with the same data (using administrative neighborhood boundaries) found generally null associations between neighborhood social capital and crime. Spatial regression methods may be more appropriate for investigating the contextual influence of social capital in homogeneous cultural settings such as Japan.

  20. Linking national contexts with intellectual capital: a comparison between Spain and Morocco.

    Science.gov (United States)

    Cegarra-Navarro, Juan-Gabriel; Sánchez-Polo, Maria Teresa

    2010-05-01

    The 'national environment', which includes belief and value systems, shapes the way individuals, groups and organisations perceive the world around them and determines how they react to ongoing changes. This paper analyses the role of different context's effects on intellectual capital by means of an empirical investigation of 112 Small to Medium sized Enterprises (SMEs) in the Spanish and Moroccan telecommunication industries. Within the investigation, repeated ANOVA were used, which were validated by factor analysis. Results support that Spanish SMEs are more positively associated with higher levels of human, structural and relational capital. The meaningful differences are clearly found in the 'structural capital'. Our findings open avenues for further research to explore how governments can facilitate learning and unlearning environments in SME communities. These findings have important implications for general intellectual capital theories, as they suggest that there is no guarantee that intellectual capital theories developed within the cultural context of one particular country can be applied in another with good effect. National contexts provide the environment for learning, which in turn may have the effect of adequately improving intellectual capital.

  1. NCHEMS Costing and Data Management System and the Purdue University Cost Study: A Comparison of Narrowly Defined Direct Costs.

    Science.gov (United States)

    Eikenberry, F. L.; Gleason, W. M.

    One critical aspect of costing system methodologies is examined: the effects of average costing by course level on program unit cost. The direct costing methodologies used in two costing systems are compared. One is the internally developed Purdue University Cost Study; the other, the NCHEMS Costing and Data Management System. The comparison…

  2. Capital and operating cost estimates. Volume I. Preliminary design and assessment of a 12,500 BPD coal-to-methanol-to-gasoline plant. [Grace C-M-G Plant, Henderson County, Kentucky

    Energy Technology Data Exchange (ETDEWEB)

    1982-08-01

    This Deliverable No. 18b - Capital and Operating Cost Estimates includes a detailed presentation of the 12,500 BPD coal-to-methanol-to-gasoline plant from the standpoint of capital, preoperations, start-up and operations cost estimation. The base capital cost estimate in June 1982 dollars was prepared by the Ralph M. Parsons Company under the direction of Grace. The escalated capital cost estimate as well as separate estimates for preoperations, startup and operations activities were developed by Grace. The deliverable consists of four volumes. Volume I contains details of methodology used in developing the capital cost estimate, summary information on a base June 1982 capital cost, details of the escalated capital cost estimate and separate sections devoted to preoperations, start-up, and operations cost. The base estimate is supported by detailed information in Volumes II, III and IV. The degree of detail for some units was constrained due to proprietary data. Attempts have been made to exhibit the estimating methodology by including data on individual equipment pricing. Proprietary details are available for inspection upon execution of nondisclosure and/or secrecy agreements with the licensors to whom the data is proprietary. Details of factoring certain pieces of equipment and/or entire modules or units from the 50,000 BPD capital estimate are also included. In the case of the escalated capital estimate, Grace has chosen to include a sensitivity analysis which allows for ready assessment of impacts of escalation rates (inflation), contingency allowances and the construction interest financing rates on the escalated capital cost. Each of the estimates associated with bringing the plant to commercial production rates has as a basis the schedule and engineering documentation found in Deliverable No. 14b - Process Engineering and Mechanical Design Report, No. 28b - Staffing Plans, No. 31b - Construction Plan, and No. 33b - Startup and Operation Plan.

  3. Building and destroying social capital: The case of cooperative movements in Denmark and Poland

    DEFF Research Database (Denmark)

    Chloupkova, Jarka; Svendsen, Gunnar Lind Haase; Svendsen, Gert Tinggaard

    2003-01-01

    Social capital, measured as the level of trust among people, may be regarded as a new production factor alongside the traditional ones of human and physical capital. With appropriate levels of social capital, monitoring and transaction costs can be saved and thus economic growth stimulated. Via....... However, the comparison of the present level of social capital indicates that the level of social capital is significantly higher in Denmark than in Poland. The paper concludes that the reason for this difference is due to the fact that the original accumulation of social capital in Poland was destroyed...... linking social capital to rural development and comparing the cases of agricultural cooperative movements in Denmark and Poland, this paper identifies possible roots of building social capital and suggests that social capital was built through a lengthy process in both countries during the 19th century...

  4. Health, Human Capital, and Development.

    Science.gov (United States)

    Bleakley, Hoyt

    2010-09-01

    How much does disease depress development in human capital and income around the world? I discuss a range of micro evidence, which finds that health is both human capital itself and an input to producing other forms of human capital. I use a standard model to integrate these results, and suggest a re-interpretation of much of the micro literature. I then discuss the aggregate implications of micro estimates, but note the complications in extrapolating to general equilibrium, especially because of health's effect on population size. I also review the macro evidence on this topic, which consists of either cross-country comparisons or measuring responses to health shocks. Micro estimates are 1-2 orders of magnitude smaller than the cross-country relationship, but nevertheless imply high benefit-to-cost ratios from improving certain forms of health.

  5. Real Activities Earnings Management and Cost of Equity Capital%真实活动盈余管理与权益资本成本

    Institute of Scientific and Technical Information of China (English)

    王亮亮

    2013-01-01

    盈余质量的经济后果是资本市场会计研究的核心问题,囿于变量测度和模型估计等问题,学术界还较少关注真实活动盈余管理与隐含权益资本成本之间的关系。基于 Roy-chowdhury 行业-年度预测模型估计真实活动盈余管理程度,基于 GLS、OJN、GGM 和 CT 等估计模型通过矩阵运算得到隐含权益资本成本,运用1999年至2011年中国上市公司样本,检验真实活动盈余管理对隐含权益资本成本的影响。研究结果表明,销售操控、生产操控和酌量性费用操控3类真实活动盈余管理的幅度都与权益资本成本正相关,基于3类真实活动盈余管理构建的综合指标与权益资本成本正相关,在控制应计项目盈余管理因素的影响下,真实活动盈余管理与权益资本成本之间的关系依旧存在。研究结论为探讨隐含权益资本成本影响因素提供了经验证据。%The economic consequences of earnings management are essential questions in the field of capital market accounting . However , due to problems in variable measures and model estimates , there are few empirical evidences on the link between real earnings management and implied cost of equity capital .Employing industry-year estimation model developed by Roychowdhury to estimate the degree of real earnings management and estimation models such as GLS , OJN, GGM and CT to perform matrix calculation to estimate implied cost of equity capital , this study investigates how real earnings management affects implied cost of equity capital based on data from the Chinese listed companies from 1999 to 2011.The results suggest that:①three types of real earnings management , sales control , production control and cost control , are positively related to cost of equity capital;②com-prehensive indicators based on three types of real earnings management is positively related to cost of equity capital ;and③when the effects of accrual

  6. A cost and returns evaluation of alternative dairy products to determine capital investment and operational feasibility of a small-scale dairy processing facility.

    Science.gov (United States)

    Becker, K M; Parsons, R L; Kolodinsky, J; Matiru, G N

    2007-05-01

    This study examines the economic feasibility of 50- and 500-cow dairy processing facilities for fluid milk, yogurt, and cheese. Net present value and internal rate of return calculations for projected costs and returns over a 10-yr period indicate that larger yogurt and cheese processing plants offer the most profitable prospects, whereas a smaller yogurt plant would break even. A smaller cheese plant would have insufficient returns to cover the cost of capital, and fluid milk processing at either scale is economically infeasible. Economic success in processing is greatly contingent upon individual business, financial management, and marketing skills.

  7. The missing technology: an international comparison of human capital investment in healthcare.

    Science.gov (United States)

    Frogner, Bianca K

    2010-01-01

    This article explores human capital investment to understand cross-sectional variation and differences in growth of health spending among the US, Australia and Canada. Using a human capital model developed by Mincer, the article examines how rate of return to schooling and years of schooling impact wage rate levels in healthcare. The model is extended to approximate the probable trajectory of healthcare wage rate growth and thus the impact on health spending. The results suggest that a higher rate of return to schooling and a more educated healthcare workforce in the US may contribute to higher healthcare wage rates and thus contribute to higher health spending levels than in Canada and Australia. The results also suggest that average healthcare wage rates are growing at the rate of potential GDP; healthcare wage rates are not driving the growth of health spending.

  8. Industrial Features of Firms'Cost of Equity Capital%权益资本成本的行业特征研究

    Institute of Scientific and Technical Information of China (English)

    张军华

    2014-01-01

    以2004~2011年沪深 A股上市公司为样本,研究权益资本成本的行业差异以及行业特征对权益资本成本的影响。研究发现:行业门类层面和制造业次类层面的权益资本成本差异显著,这种差异在时序上较为稳定。行业竞争程度越低,权益资本成本越小,体现了产品市场竞争的特质性风险效应,行业收益波动和行业成长性分别对权益资本成本产生显著的正向影响和负向影响。企业会计准则的改革强化了行业因素对权益资本成本的影响。%Using a total of 2 5 5 2 firm-year balanced panel data of China's A-share listed compa-nies during the period of 2004 to 2011,this paper investigates the cost of equity capital's industri-al differences and industrial features.The results show that there are significant differences in the costs of equity capital in different industries and in manufacturing sub-categories,and such differ-ences are relatively stable over time;the degree of industrial competition and the fluctuation of in-dustrial profits have significantly positive effect on the costs of equity capital,which reflects the effect of the idiosyncratic risk of product market competition;the fluctuation of the return of an industry and the industrial growth have significantly negative and positive effects respectively on the cost of equity capital;and the reform of accounting standards strengthens the industrial factor 'effect on the cost of equity capital.

  9. Comparison of fuel production costs for future transportation

    DEFF Research Database (Denmark)

    Ridjan, Iva; Mathiesen, Brian Vad; Connolly, David

    The purpose of this poster is to provide an overview of fuel production costs for two types of synthetic fuels – methanol and methane, along with comparable costs for first and second generation biodiesel, two types of second generation bioethanol, and biogas. The model analysed is a 100% renewab...... scenario of Denmark for 2050, where the data for the transport sector has been changed to estimate the fuel production costs for eight different fuel pathways....

  10. Human Capital,Training Cost and Transnational Service Outsourcing%人力资本、培训成本与跨国服务外包

    Institute of Scientific and Technical Information of China (English)

    任志成; 孙文远

    2012-01-01

    The teamwork based on the difference of human capitals is the typical feature of international service outsourcing.The article analyzes the effect of training cost and the level of human capital on service outsourcing team's cooperative decision and benefit.The research suggests that transnational team's training cost is an important factor influencing the international outsourcing decision.Meanwhile,the effect of training cost on employer's income varies in different team cooperation cost.The higher the level of human capital of the employer's country is,the more income and the more incentive to do service outsourcing the employer's country gain.%基于人力资本差异而形成的团队合作是国际服务外包的典型特征。运用简单的两国模型分析培训成本及人力资本水平对服务外包团队合作决策和收益的影响,研究结果表明:跨国团队的培训成本是国际外包决策的重要影响因素;团队协作成本不同的条件下,培训成本对发包方的收入影响不同;接包国的人力资本水平越高,发包国获得的收入越高,越有动力实施服务外包。

  11. From capital to capital

    Institute of Scientific and Technical Information of China (English)

    2002-01-01

    HOW easy it is for one who lives in Beijing, capital of the country, to have the impression that all things significant happen there! This is to forget how there are now many provincial capitals in China, that are rapidly modernizing. In order to achieve such modernization, these cities, like

  12. Impression management as symbolic capital: an intercultural comparison of presentations by CEOs on social network sites

    Directory of Open Access Journals (Sweden)

    Klarissa Lueg

    2015-05-01

    Full Text Available Social Network Sites (SNS play an increasingly important role in the European business world, especially with respect to cross-cultural impression management. Departing from the Bourdieusian concept of “capital,” this paper analyzes the differences in the use of two popular business SNS: XING in Germany and LinkedIn in Denmark. We summarize those differences and relate them to different cultural contexts and impression management practices. Our sample consists of Danish Higher Executives (HEs/managers (e.g., CEOs and companies that have profiles on both SNS, thus reaching out to both the German and the Danish markets. It is apparent that even business experts operating in both markets could better adapt to the standards and possibilities offered by the German SNS with respect to impression management. We introduce a set of recommendations to foster SNS-related and culture-sensitive impression management.

  13. 新会计准则、盈余透明度与资本成本%China's New Accounting Standards,Earnings Transparency and Cost of Capital

    Institute of Scientific and Technical Information of China (English)

    郑伟光; 高洁; 陆强

    2014-01-01

    In this paper,a new measurement method has been adopted to measure the transparency of accounting earn-ings and examine the relationship between the cost of equity capital and earnings transparency.The impact of China's new accounting standards has also been studied on earnings transparency from the perspective of consolidated financial state-ment theory and fair value.The empirical results show that:the cost of equity capital is negatively associated with earnings transparency;due to new accounting standards,changes of accounting treatment for minority interest income and introduc-tion of fair value increase earnings transparency significantly.It is also found that the new accounting standards weaken the relationship between the cost of capital and earnings transparency.%本文采用一种新的计量方法衡量会计盈余透明度,并研究盈余透明度与股权资本成本的关系,在此基础上从合并报表理论变革和公允价值的视角研究新会计准则对盈余透明度的影响。结果显示:盈余透明度与股权资本成本负相关,新会计准则对少数股东损益计量方法的变更与公允价值的引入显著增加了盈余透明度,同时,研究发现新会计准则的实施削弱了盈余透明度与资本成本的关系。

  14. Backup Power Cost of Ownership Analysis and Incumbent Technology Comparison

    Energy Technology Data Exchange (ETDEWEB)

    Kurtz, J.; Saur, G.; Sprik, S.; Ainscough, C.

    2014-09-01

    This cost of ownership analysis identifies the factors impacting the value proposition for fuel cell backup power and presents the estimated annualized cost of ownership for fuel cell backup power systems compared with the incumbent technologies of battery and diesel generator systems. The analysis compares three different backup power technologies (diesel, battery, and fuel cell) operating in similar circumstances in four run time scenarios (8, 52, 72, and 176 hours).

  15. Social capital

    OpenAIRE

    Landhäußer, Sandra; Ziegler, Holger

    2003-01-01

    This paper surveys research on social capital. We explore the concepts that motivate the social capital literature, efforts to formally model social capital using economic theory, the econometrics of social capital, and empirical studies of the role of social capital in various socioeconomic outcomes. While our focus is primarily on the place of social capital in economics, we do consider its broader social science context. We argue that while the social capital literature has produced many i...

  16. Capital project cost estimation methodologies. The colombian case study Aproximación a las metodologías de estimación del costo de capital en los proyectos de inversión. El caso colombiano

    Directory of Open Access Journals (Sweden)

    John Díez B

    2011-06-01

    Full Text Available A literature review using databases of the main Colombian universities was made in order to define the theoretical form of capital cost estimation in Colombia. Given a review of global popular methodologies, this article presents an approach to emergent countries, especially Colombia. Up to now, there has not been a general rule or best practice for such estimation; on the contrary, diverse difficulties to be solved exist in an environment where the effects are global and different local situations arise. Academic and pragmatic authors find diverse postures, which makes recommendable to investors or shareholders to permanently evaluate the results. Currently, available models as Capital Asset Pricing are still used and adjust various proposals to its original structure.Con el objetivo de definir la forma de estimar teóricamente el costo de capital enColombia, se llevó a cabo una revisión de la literatura correspondiente en las bases dedatos electrónicas de las principales universidades del país. A partir de una revisiónde las prácticas metodológicas más comunes en el ámbito mundial, se presenta unaaproximación a la situación de los países emergentes y específicamente a la nuestra.Hasta ahora no existe una regla general ni una mejor práctica para dicho cálculo; aún haydificultades por resolver, en un medio donde cada vez son más globales los efectos y haygran diversidad de situaciones locales. Entre los académicos y prácticos encontramosdiversas posturas, razón por la cual es recomendable que los inversionistas o accionistashagan una evaluación permanente de sus resultados. Hoy por hoy se siguen utilizandolos modelos disponibles, entre los cuales el principal es el CAPM (Capital Asset PricingModel, con diversas propuestas de ajuste a su planteamiento tradicional.

  17. The Analyses of the Influence of Business Cost on Capital Gathering and Geographical Choose%商务成本对资本聚集及区位选择的影响分析

    Institute of Scientific and Technical Information of China (English)

    黄志启

    2012-01-01

    Business cost and the changes impact on capital geographical choose,capital selection system will promote the project level of economic and development of the economy.Capital geographical selection has reduced the cost of transaction costs and other business costs,the business cost reduction further attracting capital choice,then strengthening the mechanism of the business cost and capital choose.%一个地区的商务成本构成及其变动影响资本区位选择,资本区位选择等级体系则促进了集聚经济的形成和发展;集聚经济在强化资本区位选择的同时,还降低了该地区要素成本和交易成本等商务成本,这进一步吸引了资本的区位选择,从而形成了商务成本、资本集聚的自加强机制。

  18. Varieties of Capitalism, Varieties of Innovation? A Comparison of Old and New EU Member States

    Directory of Open Access Journals (Sweden)

    Matthew M. C. Allen

    2009-12-01

    Full Text Available This article seeks, firstly, to shed light on the main claim of the Varieties of Capitalism (VoC framework that socio-economic institutions can help to shape comparative advantage, and, secondly, to complement existing assessments that have relied predominantly on qualitative data and that have tended to focus on a few economic sectors. It examines the distribution of export success in a number of economic sectors, in which competitiveness is said to be characterised by either radical or incremental innovation, as well as exports in knowledge-intensive service sectors. Unlike previous studies it applies the framework to some of the new member states of the European Union in Central and Eastern Europe. This is an important area to examine the contentions of the VoC framework, because, if those arguments are correct, they should be applicable to the new member states. Moreover, it draws on the latest available data; for indicators measuring export success this is done at the lowest level of aggregation. In contrast to previous studies, a more appropriate measure of trade specialisation, revealed symmetric comparative advantage, is used. Whilst some of the evidence supports the VoC framework, much of it does not. This raises important conceptual and methodological issues that should be addressed by future research.

  19. Comparison construction costs conventional rubblemound breakwaters/bermbreakwater

    NARCIS (Netherlands)

    Hauer, M.; Op den Velde, W.; Vrijling, J.K.; D' Angremond, K.

    1995-01-01

    Given a harbour location and a wave-climate, two different types of rubble-mound breakwaters were designed. Using realistic quarry yield curves and prices for production, transport and constmction, the total costs of the conventional statically stable and dynamically stable bermbreakwater designs we

  20. Fleet Readiness Center Mid-Atlantic Worker Cost Comparison

    Science.gov (United States)

    2012-06-01

    their children a right to study painting, poetry , music, architecture, tapestry, and porcelain.” As she was patient with this program and my master’s...displayed and explained when using this method. The attempt to trace indirect and overhead costs is not an absolutely precise process and is subject to

  1. Ritalin vs. Response Cost in the Control of Hyperactive Children: A Within-Subject Comparison.

    Science.gov (United States)

    Rapport, Mark D.; And Others

    1982-01-01

    A comparison of the effects of methylphenidate (Ritalin) and response cost in reducing the offtask behavior of two boys (7 and 8 years old) with attentional deficit disorders and hyperactivity revealed that response cost (with free time as the reinforcer) was superior to Ritalin in increasing ontask behavior and improving academic performance.…

  2. COMPARISON OF WEST GERMAN AND U.S. FLUE GAS DESULFURIZATION AND SELECTIVE CATALYTIC REDUCTION COSTS

    Science.gov (United States)

    The report documents a comparison of the actual cost retrofitting flue gas desulfurization (FGD) and selective catalytic reduction (SCR) on Federal Republic of German (FRG) boilers to cost estimating procedures used in the U.S. to estimate the retrofit of these controls on U.S. b...

  3. Retail Infrastructure Costs Comparison for Hydrogen and Electricity for Light-Duty Vehicles: Preprint

    Energy Technology Data Exchange (ETDEWEB)

    Melaina, M.; Sun, Y.; Bush, B.

    2014-08-01

    Both hydrogen and plug-in electric vehicles offer significant social benefits to enhance energy security and reduce criteria and greenhouse gas emissions from the transportation sector. However, the rollout of electric vehicle supply equipment (EVSE) and hydrogen retail stations (HRS) requires substantial investments with high risks due to many uncertainties. We compare retail infrastructure costs on a common basis - cost per mile, assuming fueling service to 10% of all light-duty vehicles in a typical 1.5 million person city in 2025. Our analysis considers three HRS sizes, four distinct types of EVSE and two distinct EVSE scenarios. EVSE station costs, including equipment and installation, are assumed to be 15% less than today's costs. We find that levelized retail capital costs per mile are essentially indistinguishable given the uncertainty and variability around input assumptions. Total fuel costs per mile for battery electric vehicle (BEV) and plug-in hybrid vehicle (PHEV) are, respectively, 21% lower and 13% lower than that for hydrogen fuel cell electric vehicle (FCEV) under the home-dominant scenario. Including fuel economies and vehicle costs makes FCEVs and BEVs comparable in terms of costs per mile, and PHEVs are about 10% less than FCEVs and BEVs. To account for geographic variability in energy prices and hydrogen delivery costs, we use the Scenario Evaluation, Regionalization and Analysis (SERA) model and confirm the aforementioned estimate of cost per mile, nationally averaged, but see a 15% variability in regional costs of FCEVs and a 5% variability in regional costs for BEVs.

  4. QUICKTRANS and Alternative Commercial Transportation: A Cost Comparison.

    Science.gov (United States)

    1992-12-01

    88 by 108 inches [Ref. 1: p. 33]. Each commercial air freight forwarder has a different definition of outsized shipments. Danzas Corporation has a...Western Area, Danzas Corporation and Universal Transportation and Services were considered for moving heavy and outsized "𔃺 Over 17 percent of...shipments. Their government tender rates were very close to Federal Express rates. Danzas Corporation was chosen as the most cost effective heavy clean

  5. Cost-Effectiveness Comparison of Coupler Designs of Wireless Power Transfer for Electric Vehicle Dynamic Charging

    Directory of Open Access Journals (Sweden)

    Weitong Chen

    2016-11-01

    Full Text Available This paper presents a cost-effectiveness comparison of coupler designs for wireless power transfer (WPT, meant for electric vehicle (EV dynamic charging. The design comparison of three common types of couplers is first based on the raw material cost, output power, transfer efficiency, tolerance of horizontal offset, and flux density. Then, the optimal cost-effectiveness combination is selected for EV dynamic charging. The corresponding performances of the proposed charging system are compared and analyzed by both simulation and experimentation. The results verify the validity of the proposed dynamic charging system for EVs.

  6. Lab-Scale Fiber Spinning Experimental Design Cost Comparison

    Directory of Open Access Journals (Sweden)

    Jeffrey C. Moreland

    2010-03-01

    Full Text Available Many statistical experimental designs are too costlyor require too much raw material to be feasible forlab-scale fiber spinning experiments. In this study afour-factor response surface design is presented tostudy the fiber spinning process in detail at the labscale. The time, cost, and amount of raw materialrequired to execute the proposed design are comparedto the typical completely randomized 24 factorialdesign used in fiber spinning experiments and also toa standard four-factor response surface design.Sample fiber data as well as analysis from a typicalstatistical software package is provided to furtherdemonstrate the differences between each design. Bydesignating some treatment factors in the design ashard-to-change, split-plotting is used to reduce thetime, cost, and amount of raw material required tocomplete the experiment. The proposed split-plotdesign is faster and less expensive than a typicalfactorial design and has the advantage of fitting amore complex second-order model to the system.When compared to a standard response surfacedesign, the proposed split-plot design provides thesame second-order modeling capabilities but reducesthe cost of the experiment by 53%, the total time by36%, and the amount of polymer required by 24%.Thus, a split-plot response surface design based onhard-to-change factors is recommended in lab-scalespinning.

  7. RE-COST: Cost and Business Comparisons of Renewable vs. Non-renewable Technologies

    Energy Technology Data Exchange (ETDEWEB)

    Mostajo Veiga, Mercedes; Farina Alvarez, Pablo; Fernandez-Montes Moraleda, Manuel; Kleinsorge, Anne

    2012-07-15

    Based on real plant data, the RE-COST project concludes that in many OECD energy markets, new renewable energy technologies (RET) are close to be competitive with non-RET electricity plants. RET costs are decreasing rapidly, while conventional power plants are affected by lower utilisation rates, volatile coal and gas prices, CO2 pricing, and lower electricity demand than expected. If energy prices would account for air pollution and climate change, renewables would already be the most beneficial for society and business.

  8. ''Social capitalism'' in renewable energy generation: China and California comparisons

    Energy Technology Data Exchange (ETDEWEB)

    Clark, Woodrow W. II.; Li, Xing [Clark Strategic Partners, PO Box 17975, Beverly Hills, CA 90210 (United States)

    2010-03-15

    With a population of over 1.3 billion people, demand for renewable energy is expected to grow to a USD $12 billion market in the near term. Under Renewable Energy Law (REL) in February 2005 in the People's Republic of China (PRC) passed by the National Congress, renewable energy projects will be able to receive a range of financial incentives starting in 2006, which will more than double the PRC current renewable energy generation from 7% to 15% by 2020. Most of the increase will be in hydroelectric generated power. Nonetheless, the nation and especially the provinces are moving rapidly to develop a wide range of renewable energy generation including solar, wind, geothermal and run of the river. Because China practices ''social capitalism'' as expressed in it's recurrent Five Year National Plans since 1999, the national government and all the provinces have programs, unlike many western and industrialized nations, to ''plan'' and provide for infrastructures. This paper concerns only the energy infrastructure sector and renewable energy generation in particular. The planning process includes financial incentives and investments which are a major part of the Chinese law focused on ''encouraging foreign investment industries''. The key part of the law is to guarantee long-term power purchase agreements with state owned and controlled ''utilities''. In short, China may have gotten the economics of the energy sector correct in its concern for planning and finance. The paper develops these energy infrastructure ideas along with the legal and financial requirements as ''lessons'' learned from the USA and especially California. These lessons now apply to China and allow it to learn from the American mistakes. Empirical data will be drawn from work done in China that examine the renewable energy generation and infrastructures and hence allow the RPC and its

  9. 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...

  10. Low-cost commodity depth sensor comparison and accuracy analysis

    Science.gov (United States)

    Breuer, Timo; Bodensteiner, Christoph; Arens, Michael

    2014-10-01

    Low cost depth sensors have been a huge success in the field of computer vision and robotics, providing depth images even in untextured environments. The same characteristic applies to the Kinect V2, a time-of-flight camera with high lateral resolution. In order to assess advantages of the new sensor over its predecessor for standard applications, we provide an analysis of measurement noise, accuracy and other error sources with the Kinect V2. We examined the raw sensor data by using an open source driver. Further insights on the sensor design and examples of processing techniques are given to completely exploit the unrestricted access to the device.

  11. Capital y capital social

    OpenAIRE

    Bolívar Espinoza, Gardy Augusto; Elizalde, Antonio

    2012-01-01

    La perspectiva teórica del Capital, del siglo XIX, aparece alejada del capital social del siglo XXI.  Ambas, con la misma raíz, sin embargo, pareciera que no se tocan, ni teórica ni prácticamente.  Quizás, sería pertinente escudriñar esta relación. Desde la década de los noventa, el tema del “capital social” ha sido visto por muchos estudiosos de la realidad social contemporánea como una propuesta promisoria, transversal y hegemónica. Tanto desde la economía, las ciencias morales, la ciencia ...

  12. Health and Economic Impacts of Air Pollution in China: A Comparison of the General Equilibrium Approach and Human Capital Approach

    Institute of Scientific and Technical Information of China (English)

    YUE WAN; HONG-WEI YANG; TOSHIHIKO MASUI

    2005-01-01

    In China, combustion of fossil fuels and biomass has produced serious air pollution that does harm to human health. Based on dose-response relationships derived from epidemiological studies, the authors calculated the number of deaths and people with health problems which were thought to be attributable to China's air pollution in the year of 2000. In order to estimate the corresponding economic impacts from the national point of view, the general equilibrium approach was selected as an analysis tool for this study. A computable general equilibrium (CGE) model was constructed involving 39 sectors and 32 commodities.The human capital approach (HCA) was also used for comparison. The economic burden of disease for people estimated by HCA was equivalent to 1.26‰ (ranging from 0.44‰ to 1.84‰) of China's gross domestic product (GDP). China's GDP loss estimated by the general equilibrium approach reached 0.38‰ (ranging from 0.16‰ to 0.51‰). The difference between the two approaches and the implications of the results were discussed.

  13. Health and economic impacts of air pollution in China: a comparison of the general equilibrium approach and human capital approach.

    Science.gov (United States)

    Wan, Yue; Yang, Hong-Wei; Masui, Toshihiko

    2005-12-01

    In China, combustion of fossil fuels and biomass has produced serious air pollution that does harm to human health. Based on dose-response relationships derived from epidemiological studies, the authors calculated the number of deaths and people with health problems which were thought to be attributable to China's air pollution in the year of 2000. In order to estimate the corresponding economic impacts from the national point of view, the general equilibrium approach was selected as an analysis tool for this study. A computable general equilibrium (CGE) model was constructed involving 39 sectors and 32 commodities. The human capital approach (HCA) was also used for comparison. The economic burden of disease for people estimated by HCA was equivalent to 1.26 per thousand (ranging from 0.44 per thousand to 1.84 per thousand) of China's gross domestic product (GDP). China's GDP loss estimated by the general equilibrium approach reached 0.38 per thousand (ranging from 0.16 per thousand to 0.51 per thousand). The difference between the two approaches and the implications of the results were discussed.

  14. Capital y capital social

    OpenAIRE

    Avalos-Lozano, José Antonio; Barrientos,Jaime; Bolívar Espinoza, Gardy Augusto; Brower Beltramin, Jorge; Cabrera, Cecilia; Caloca Osorio, Oscar Rogelio; Castro Sáez, Bernardo; Ceberio de León, Iñaki; Cleary, Eda; Córdova, María Gabriela; Cuéllar Saavedra, Óscar; Elizalde, Antonio; Flores Vega, Leonel; Gajardo Cornejo, Claudio; Garcés, Alejandro

    2011-01-01

    Desde la década de los noventa, el tema del “capital social” ha sido visto por muchos estudiosos de la realidad social contemporánea como una propuesta promisoria, transversal y hegemónica. Tanto desde la economía, las ciencias morales, la ciencia y la sociología política, expertos de diversas instituciones internacionales han concurrido a este campo en busca de soluciones para el diseño de políticas públicas, que es donde parece brillar más este concepto. El “capital social”, sin embargo, –a...

  15. The environmental sustainability. The physical cost of replacement of mineral reserves; La sostenibilidad ambiental a escala planetaria. El coste fisico de reposicion del Capital Mineral de la Tierra

    Energy Technology Data Exchange (ETDEWEB)

    Valero, A.; Martinez, A.; Botero, E.

    2003-07-01

    In order to evaluate the physical value of mineral and water reserves, the concept of Exergy Replacement Cost has been defined as the energy required by the best available technologies to return a resource to the same conditions as it was delivered by the ecosystem. In the case of fossil fuel reserves, a new concept called exergy abatement cost has been proposed as a physical way of measuring the exergy cost of the best available technology for avoiding the environmental externalities associated with the use of fossil fuels. According to the results obtained, the physical value of mineral reserves is 15.4% of oil reserves. In the case of water reserves, 0,4 to 6,4 times the fossil energy consumed would be needed each year to supply only a part of the functions of the hydrological cycle. The global exegetic abatement costs would be 11,3% of the proven world exegetic reserves in fossil fuels. (Author)

  16. CAPITAL STRUCTURE, COST OF DEBT AND DIVIDEND PAYOUT OF FIRMS IN NEW YORK AND SHANGHAI STOCK EXCHANGES

    Directory of Open Access Journals (Sweden)

    Jun Jiang

    2013-01-01

    Full Text Available The Study collects panel data of listed firms in New York Stock and Shanghai Stock Exchanges during 1992 to 2008. The data are used to perform panel regression estimates for firms in each stock market. The main purpose is to compare the decision on dividend payout of listed firms in the two stock markets. The results from fixed effect estimates show that factors that can explain dividend payout of firms in New York Stock Exchange poorly explain dividend payout of firms in Shanghai Stock Exchange. This paper adds to the literature in that it provides an evidence of difference in dividend policy of firms between advanced and emerging stock markets. For policymakers in the Chinese economy, implementation of measures to enhance the advancement of bond market is necessary. Additionally, firms in Shanghai Stock Exchange should adjust their capital structure to provide room for investors to diversify and adjust their portfolios of stocks and bonds.

  17. The Cost of PLATO in a University Environment.

    Science.gov (United States)

    Hofstetter, Fred T.

    1983-01-01

    This analysis of the cost-effectiveness of the University of Delaware's own PLATO system discusses the initial expense of acquiring the system, decreases in unit cost as number of users increased, capital investment in hardware, expenditures and funding sources, comparisons of actual and projected costs, and benefits of individualized instruction.…

  18. Welfare States and Dimensions of Social Capital : Cross-national comparisons of social contacts in European countries

    NARCIS (Netherlands)

    Scheepers, Peer; Grotenhuis, Manfred te; Gelissen, John

    2002-01-01

    We set out to describe and explain differences in the amount of some dimensions of social capital within and between European societies. Social capital refers to a wide range of social phenomena; however, we focus on social contacts with family and friends. We derive hypotheses about cross-national

  19. Welfare states and dimensions of social capital: Cross-national comparisons of social contacts in European countries

    NARCIS (Netherlands)

    Scheepers, P.L.H.; Grotenhuis, H.F. te; Gelissen, J.P.T.M.

    2002-01-01

    We set out to describe and explain differences in the amount of some dimensions of social capital within and between European societies. Social capital refers to a wide range of social phenomena; however, we focus on social contacts with family and friends. We derive hypotheses about cross-national

  20. On the Comparison of Psychological Capital and Metacognitive Beliefs between Drug-Dependent Students and Normal Students

    Directory of Open Access Journals (Sweden)

    davoud akbarzadeh

    2015-02-01

    Full Text Available Objective: This study aimed to compare psychological capital and metacognitive beliefs between drug-dependent students and normal students. Method: The present study was of a causal-comparative nature. The students of Azad University of Tabriz in 2013 constituted the study population. Then, two groups of 50 drug-dependent and normal students were selected through convenience and clustering sampling methods, respectively. Cartwright-Hatton and Wells’ Metacognitions Questionnaire (MCQ-30 and Luthans’ Psychological Capital Questionnaire (PCQ-24 were used for data collection purposes. Results: The results showed that there was a statistically significant difference between the two groups in terms of psychological capital and metacognitive beliefs. This means that drug-dependent students suffer lower psychological capital and impaired metacognitive beliefs. Conclusion: According to the obtained results, it is feasible to wane students’ tendency to drug use with the growth of psychological capital and the implementation of programs on metacognitive beliefs.

  1. Cost outlook for the production of biofuels. A cost comparison assessment of the future production of biofuels

    Energy Technology Data Exchange (ETDEWEB)

    Ragettli, M.

    2007-02-15

    In this diploma thesis by Martin Ragettli a cost comparison assessment of the future production of biofuels is presented. The author states that biofuels can make a contribution to the reduction of the effects of fossil fuel depletion and regional and global environmental problems, as well as providing security of supply. The status of biofuels in the context of sustainability efforts and the use of renewable forms of energy are discussed as are the potential and costs of biomass-based energy supply. Various types of biomass for the production of biofuels are reviewed, as are production technologies. The global potential of biomass supplies is examined. The methodology applied and the system components examined are discussed and a regional approach is reviewed. Recommendations for further research are made.

  2. 房地产上市公司多元化战略与资本成本关系研究%The Relationship between Diversification Strategy and the Cost of Capital in Listed Real Estate Companies

    Institute of Scientific and Technical Information of China (English)

    张红; 陈嘉伟; 李林峻

    2015-01-01

    This paper uses the econometric model to have empirical analysis on the diversification strategy and the weighted average cost of capital , which includes 59 listed real estate companies in Shanghai and Shenzhen A stock markets from 2003 to 2013.The result of our paper shows a negative relation between the degree of diversifi-cation and the cost of equity capital.The degree of diversification also shows a positive correlation with the cost of debt capital , a negative correlation with the ratio of debt capital , and a positive correlation with the weighted aver-age cost of capital.This result means that when listed real estate companies have diversification strategy , their weighted average cost of capital will increase.%通过面板数据计量经济学模型,对2003~2013年我国沪深A股中59家房地产上市公司多元化经营战略及其加权平均资本成本进行实证分析。结果表明,多元化经营程度与普通股资本成本负相关,与债务资本成本正相关,与负债占资本比例负相关,与加权平均资本成本显著正相关。这意味着当房地产上市公司实行多元化战略时,该公司的加权平均资本成本也会相应提高。

  3. Mengukur Kontribusi Human Capital terhadap Tujuan Perusahaan

    Directory of Open Access Journals (Sweden)

    Brata Wibawa Djojo

    2010-10-01

    Human Capital Cost Factor, (iv Human Capital Value Added, and (v Human Capital Return on Investment. Results of research can provide guidelines for the management, especially for management of JLI in view of Human Capital contribution to corporate objectives, namely in terms of staffing and agency.

  4. 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...

  5. Computerized operating cost model for industrial steam generation

    Energy Technology Data Exchange (ETDEWEB)

    Powers, T.D.

    1983-02-01

    Pending EPA regulations, establishing revised emission levels for industrial boilers are perceived to have an effect on the relative costs of steam production technologies. To aid in the comparison of competitive boiler technologies, the Steam Cost Code was developed which provides levelized steam costs reflecting the effects of a number of key steam cost parameters. The Steam Cost Code is a user interactive FORTRAN program designed to operate on a VAX computer system. The program requires the user to input a number of variables describing the design characteristics, capital costs, and operating conditions for a specific boiler system. Part of the input to the Steam Cost Code is the capital cost of the steam production system. The capital cost is obtained from a program called INDCEPT, developed by Oak Ridge National Laboratory under Department of Energy, Morgantown Energy Technology Center sponsorship.

  6. 10 CFR Appendix I to Part 504 - Procedures for the Computation of the Real Cost of Capital

    Science.gov (United States)

    2010-01-01

    ... fraction. R e=Predicted nominal cost of common stock expressed as a fraction. INF=Percentage change in the... common stock and the excess return on the S&P 500 composite index, and R m=The mean excess return on the...=Closing market prices of the firm's common stock at the end of month t fully adjusted for splits and...

  7. Solar power. [comparison of costs to wind, nuclear, coal, oil and gas

    Science.gov (United States)

    Walton, A. L.; Hall, Darwin C.

    1990-01-01

    This paper describes categories of solar technologies and identifies those that are economic. It compares the private costs of power from solar, wind, nuclear, coal, oil, and gas generators. In the southern United States, the private costs of building and generating electricity from new solar and wind power plants are less than the private cost of electricity from a new nuclear power plant. Solar power is more valuable than nuclear power since all solar power is available during peak and midpeak periods. Half of the power from nuclear generators is off-peak power and therefore is less valuable. Reliability is important in determining the value of wind and nuclear power. Damage from air pollution, when factored into the cost of power from fossil fuels, alters the cost comparison in favor of solar and wind power. Some policies are more effective at encouraging alternative energy technologies that pollute less and improve national security.

  8. Aqueous nitrate waste treatment: Technology comparison, cost/benefit, and market analysis

    Energy Technology Data Exchange (ETDEWEB)

    1994-01-01

    The purpose of this analysis is to provide information necessary for the Department of Energy (DOE) to evaluate the practical utility of the Nitrate to Ammonia and Ceramic or Glass (NAC/NAG/NAX) process, which is under development in the Oak Ridge National Laboratory. The NAC/NACx/NAX process can convert aqueous radioactive nitrate-laden waste to a glass, ceramic, or grout solid waste form. The tasks include, but are not limited to, the following: Identify current commercial technologies to meet hazardous and radiological waste disposal requirements. The technologies may be thermal or non-thermal but must be all inclusive (i.e., must convert a radionuclide-containing nitrate waste with a pH around 12 to a stable form that can be disposed at permitted facilities); evaluate and compare DOE-sponsored vitrification, grouting, and minimum additive waste stabilization projects for life-cycle costs; compare the technologies above with respect to material costs, capital equipment costs, operating costs, and operating efficiencies. For the NAC/NAG/NAX process, assume aluminum reactant is government furnished and ammonia gas may be marketed; compare the identified technologies with respect to frequency of use within DOE for environmental management applications with appropriate rationale for use; Assess the potential size of the DOE market for the NAC/NAG/NAX process; assess and off-gas issues; and compare with international technologies, including life-cycle estimates.

  9. Comparisons of Two Commercial and Two Low-cost Interfaces for Virtual Skiing

    DEFF Research Database (Denmark)

    Nilsson, Niels Chr.; Serafin, Stefania; Nordahl, Rolf

    2015-01-01

    In this paper we present two comparisons of two novel physical interface for interacting with a virtual environment in the form of a skiing game. The interfaces were compared through two separate within-subjects studies. In the first study we compared a wobble board augmented with a low-cost 3D...

  10. Improved cost of energy comparison of permanent magnet generators for large offshore wind turbines

    NARCIS (Netherlands)

    Hart, K.; McDonald, A.; Polinder, H.; Corr, E.; Carroll, J.

    2014-01-01

    This paper investigates geared and direct-drive permanent magnet generators for a typical offshore wind turbine, providing a detailed comparison of various wind turbine drivetrain configurations in order to minimise the Cost of Energy. The permanent magnet generator topologies considered include a d

  11. International comparisons of cost and productivity in construction: a bad example

    Directory of Open Access Journals (Sweden)

    Rick Best

    2012-09-01

    Full Text Available In a report published in June 2012 the Business Council of Australia (BCA reported that it costs considerably more to build a variety of types of infrastructure in Australia than it does in the US. Airports (90% more costly and hospitals (62% were quoted as the worst cases with other projects ranging from 26% to 43% more. They used these figures to conclude that Australia is a high cost, low productivity environment for building infrastructure projects. These claims were based on cost/m2 figures published by a major international construction consultancy. The method used by the BCA is flawed in two ways: one is the in the use of costs that are recognised as giving only the broadest of indications of probable costs and the second is the use of exchange rates to convert Australian construction costs to US dollars. Careful analysis of the methodology used, supported by a series of other comparisons based on other data sources and other conversion factors (purchasing power parities or PPPs, suggests that in real terms it probably costs no more to build in Australia than it does in the US and that it may well be cheaper to build in Australia than it is in the US.

  12. Comparison and Cost Analysis of Drinking Water Quality Monitoring Requirements versus Practice in Seven Developing Countries

    Directory of Open Access Journals (Sweden)

    Jonny Crocker

    2014-07-01

    Full Text Available Drinking water quality monitoring programs aim to support provision of safe drinking water by informing water quality management. Little evidence or guidance exists on best monitoring practices for low resource settings. Lack of financial, human, and technological resources reduce a country’s ability to monitor water supply. Monitoring activities were characterized in Cambodia, Colombia, India (three states, Jordan, Peru, South Africa, and Uganda according to water sector responsibilities, monitoring approaches, and marginal cost. The seven study countries were selected to represent a range of low resource settings. The focus was on monitoring of microbiological parameters, such as E. coli, coliforms, and H2S-producing microorganisms. Data collection involved qualitative and quantitative methods. Across seven study countries, few distinct approaches to monitoring were observed, and in all but one country all monitoring relied on fixed laboratories for sample analysis. Compliance with monitoring requirements was highest for operational monitoring of large water supplies in urban areas. Sample transport and labor for sample collection and analysis together constitute approximately 75% of marginal costs, which exclude capital costs. There is potential for substantive optimization of monitoring programs by considering field-based testing and by fundamentally reconsidering monitoring approaches for non-piped supplies. This is the first study to look quantitatively at water quality monitoring practices in multiple developing countries.

  13. Comparison and cost analysis of drinking water quality monitoring requirements versus practice in seven developing countries.

    Science.gov (United States)

    Crocker, Jonny; Bartram, Jamie

    2014-07-18

    Drinking water quality monitoring programs aim to support provision of safe drinking water by informing water quality management. Little evidence or guidance exists on best monitoring practices for low resource settings. Lack of financial, human, and technological resources reduce a country's ability to monitor water supply. Monitoring activities were characterized in Cambodia, Colombia, India (three states), Jordan, Peru, South Africa, and Uganda according to water sector responsibilities, monitoring approaches, and marginal cost. The seven study countries were selected to represent a range of low resource settings. The focus was on monitoring of microbiological parameters, such as E. coli, coliforms, and H2S-producing microorganisms. Data collection involved qualitative and quantitative methods. Across seven study countries, few distinct approaches to monitoring were observed, and in all but one country all monitoring relied on fixed laboratories for sample analysis. Compliance with monitoring requirements was highest for operational monitoring of large water supplies in urban areas. Sample transport and labor for sample collection and analysis together constitute approximately 75% of marginal costs, which exclude capital costs. There is potential for substantive optimization of monitoring programs by considering field-based testing and by fundamentally reconsidering monitoring approaches for non-piped supplies. This is the first study to look quantitatively at water quality monitoring practices in multiple developing countries.

  14. Cost-effective IMTA: a comparison of the production efficiencies of mussels and seaweed

    DEFF Research Database (Denmark)

    Holdt, Susan Løvstad; Edwards, Maeve D.

    2014-01-01

    This paper compares the biofilter capacity and cost-effectiveness of blue mussels (Mytilus edulis) and seaweed for use in integrated multi-trophic aquaculture (IMTA) based on experiences in Ireland and Denmark. This comparison shows that weight for weight, mussels are a better biofilter than...... seaweed with regard to the amount of nitrogen assimilated. Furthermore, in optimized systems, areal requirement for mussels is similar to the cultivation of the same tonnage (1,000 t) of seaweed (approximately 8 ha). The cost-effectiveness of a mussel biofilter is €11–30 kg−1 nitrogen (N) removed based...... on various examples compared to production costs of €209–672 removed and €1,013 kg−1 N removed, respectively, for Laminaria digitata and Alaria esculenta from extrapolated laboratory and field trials. However, commercial seaweed (Saccharina latissima) producers claim that production costs are less than €10...

  15. Cost-effective IMTA: a comparison of the production efficiencies of mussels and seaweed

    DEFF Research Database (Denmark)

    Holdt, Susan Løvstad; Edwards, M. D.

    This paper compares the biofilter capacity and cost-effectiveness of blue mussels (Mytilus edulis) and seaweed for use in integrated multi-trophic aquaculture (IMTA) based on experiences in Ireland and Denmark. This comparison shows that weight for weight, mussels are a better biofilter than...... seaweed with regard to the amount of nitrogen assimilated. Furthermore, in optimised systems, areal requirement for mussels is similar to the cultivation of the same tonnage (1,000 t) of seaweed (approx. 8 ha). The cost-effectiveness of a mussel biofilter is €11.4-19.2 kg-1 N removed based on modeled...... results compared to production cost of €209-672 kg-1 N removed and €1,013 kg-1 N removed for respectively Laminaria digitata and Alaria esculenta from extrapolated laboratory and field trials. However, a commercial seaweed (Saccharina latissima) producer claims that production costs are less than €10 kg-1...

  16. Deployment of Low-Cost, Carbon Dioxide Sensors throughout the Washington Metropolitan Area - The Capital Climate Initiative

    Science.gov (United States)

    Caine, Kristen M.; Bailey, D. Michelle; Houston Miller, J.

    2016-04-01

    According to the IPCC from 1995 to 2005, atmospheric carbon dioxide (CO2) concentrations increased by 19 ppm, the highest average growth rate recorded for any decade since measurements began in the 1950s. Due to its ability to influence global climate change, it is imperative to continually monitor carbon dioxide emission levels, particularly in urban areas where some estimate in excess of 75% of total greenhouse gas emissions occur. Although high-precision sensors are commercially available, these are not cost effective for mapping a large spatial area. A goal of this research is to build out a network of sensors that are accurate and precise enough to provide a valuable data tool for accessing carbon emissions from a large, urban area. This publically available greenhouse gas dataset can be used in numerous environmental assessments and as validation for remote sensing products. It will also be a valuable teaching tool for classes at our university and will promote further engagement of K-12 students and their teachers through education and outreach activities. Each of our sensors (referred to as "PiOxides") utilizes a non-dispersive infrared (NDIR) sensor for the detection of carbon dioxide along with a combination pressure/temperature/humidity sensor. The collection of pressure and temperature increases the accuracy and precision of the CO2 measurement. The sensors communicate using a serial interfaces with a Raspberry Pi microcontroller. Each PiOxide is connected to a website that leverages recent developments in open source GIS tools. In this way, data from individual sensors can be followed individually or aggregated to provide real-time, spatially-resolved data of CO2 trends across a broad area. Our goal for the network is to expand across the entire DC/Maryland/Virginia Region through partnerships with private and public schools. We are also designing GHG Bluetooth beacons that may be accessed by mobile phone users in their vicinity. In two additional

  17. Bayesian comparison of cost-effectiveness of different clinical approaches to diagnose coronary artery disease

    Energy Technology Data Exchange (ETDEWEB)

    Patterson, R.E.; Eng, C.; Horowitz, S.F.; Gorlin, R.; Goldstein, S.R.

    1984-08-01

    The objective of this study was to compare the cost-effectiveness of four clinical policies (policies I to IV) in the diagnosis of the presence or absence of coronary artery disease. A model based on Bayes theorem and published clinical data was constructed to make these comparisons. Effectiveness was defined as either the number of patients with coronary disease diagnosed or as the number of quality-adjusted life years extended by therapy after the diagnosis of coronary disease. The following conclusions arise strictly from analysis of the model and may not necessarily be applicable to all situations. As prevalence of coronary disease in the population increased, it caused a linear increase in cost per patient tested, but a hyperbolic decrease in cost per effect, that is, increased cost-effectiveness. Thus, cost-effectiveness of all policies (I to IV) was poor in populations with a prevalence of disease below 10%. Analysis of the model also indicates that at prevalences less than 80%, exercise thallium scintigraphy alone as a first test (policy II) is a more cost-effective initial test than is exercise electrocardiography alone as a first test (policy I) or exercise electrocardiography first combined with thallium imaging as a second test (policy IV). Exercise electrocardiography before thallium imaging (policy IV) is more cost-effective than exercise electrocardiography alone (policy I) at prevalences less than 80%. 4) Noninvasive exercise testing before angiography (policies I, II and IV) is more cost-effective than using coronary angiography as the first and only test (policy III) at prevalences less than 80%. 5) Above a threshold value of prevalence of 80% (for example patients with typical angina), proceeding to angiography as the first test (policy III) was more cost-effective than initial noninvasive exercise tests (policies I, II and IV).

  18. Cost-comparison of DDT and alternative insecticides for malaria control.

    Science.gov (United States)

    Walker, K

    2000-12-01

    In anti-malaria operations the use of DDT for indoor residual spraying has declined substantially over the past 30years, but this insecticide is still considered valuable for malaria control, mainly because of its low cost relative to alternative insecticides. Despite the development of resistance to DDT in some populations of malaria vector Anopheles mosquitoes (Diptera: Culicidae), DDT remains generally effective when used for house-spraying against most species of Anopheles, due to excitorepellency as well as insecticidal effects. A 1990 cost comparison by the World Health Organization (WHO) found DDT to be considerably less expensive than other insecticides, which cost 2 to 23 times more on the basis of cost per house per 6 months of control. To determine whether such a cost advantage still prevails for DDT, this paper compares recent price quotes from manufacturers and WHO suppliers for DDT and appropriate formulations of nine other insecticides (two carbamates, two organophosphates and five pyrethroids) commonly used for residual house-spraying in malaria control programmes. Based on these 'global' price quotes, detailed calculations show that DDT is still the least expensive insecticide on a cost per house basis, although the price appears to be rising as DDT production declines. At the same time, the prices of pyrethroids are declining, making some only slightly more expensive than DDT at low application dosages. Other costs, including operations (labour), transportation and human safety may also increase the price advantages of DDT and some pyrethroids vs. organophosphates and carbamates, although possible environmental impacts from DDT remain a concern. However, a global cost comparison may not realistically reflect local costs or effective application dosages at the country level. Recent data on insecticide prices paid by the health ministries of individual countries showed that prices of particular insecticides can vary substantially in the open market

  19. 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 fir

  20. 资本成本与资产流动性关系的经验验证%The Experience Validation of Relationship Between Cost of Capital and Asset Liquidity

    Institute of Scientific and Technical Information of China (English)

    王春峰; 孙会国; 房振明

    2012-01-01

    从公司财务理论和资产定价理论出发,分析资产流动性通过“流动性效应”和“定价效应”对资本成本的影响可发现:资产流动性直接影响公司对其物质资产重新配置的能力,进而是运营灵活性,从而影响事前资本成本;而其降低时,导致公司运营风险增大,投资者会要求更高的报酬率。更进一步,利用M&LA行为构建资产流动性指数,并用不同方法度量资本成本,尤其经过实证检验发现:在中国市场上,资产流动性越高,企业资本成本越低;对于在行业竞争中处于追随者地位的企业和市值账面比低的企业而言,资产流动性能降低更多资本成本。%Based on the theory of corporate finance and asset pricing, this article studies the effects of real asset liquidity on the cost of capital through "liquidity effect" and "asset pricing effect": Asset liquidity affects the ability of a firm redeploying its real asset, then its operating flexibility and the cost of capital ex ante, while lower asset liquidity leads higher operating risk, and thus investors require higher returns for the capital they provide. This article constructs the corporates' asset liquidity's indices with M~A activities, and computes the cost of capital using different methods, then empirically finds that the cost of capital is lower with higher asset liquidity in Chinese market, and higher asset liquidity reduces the cost of capital by more for firms that are industry leaders or with lower market-to-book ratio.

  1. Burn or bury? A social cost comparison of final waste disposal methods

    Energy Technology Data Exchange (ETDEWEB)

    Dijkgraaf, Elbert; Vollebergh, Herman R.J. [Department of Economics, Erasmus University and OCFEB, P.O. Box 1738, Rotterdam H 7-23, Rotterdam DR 3000 (Netherlands)

    2004-10-01

    This paper evaluates the two well-known final waste disposal methods, incineration and landfilling. In particular we compare the social cost of two best-available technologies using a point estimate based on private and environmental cost data for the Netherlands. Not only does our comparison allow for Waste-to-Energy incineration plants but for landfills as well. The data provide support for the widespread policy preference for incineration over landfilling only if the analysis is restricted to environmental costs alone and includes savings of both energy and material recovery. Gross private costs, however, are so much higher for incineration, that landfilling is the social cost minimizing option at the margin even in a densely populated country such as the Netherlands. Furthermore, we show that our result generalizes to other European countries and probably to the USA. Implications for waste policy are discussed as well. Proper treatment of and energy recovery from landfills seem to be the most important targets for waste policy. Finally, WTE plants are a very expensive way to save on climate change emissions.

  2. 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...

  3. 制度成本、规模效应与厂商投资决策%Relationship Between Institutional Cost, Capital Stock and Investment Decision-making of a Corporate

    Institute of Scientific and Technical Information of China (English)

    陈张杭健; 王力

    2016-01-01

    制度成本是否会影响厂商的投资决策?是如何影响的?基于存在调整成本的投资模型,将制度成本内生化到该模型中,以探究制度成本是如何影响厂商的资本存量,进而改变厂商的投资决策。针对制度成本的特点提出假设:随着单位资本存量的减少,边际制度调整成本是增加的,即边际制度调整成本随调整的规模递减。理论模型的结果和面板数据模型实证分析表明:(1)在利润最大化的条件下,一单位资本的市场价值等于购买价格(1加上边际制度成本)和边际经济成本之和;(2)相对于内部经济调整成本,制度调整成本占厂商资本存量的比例更大,而且规模越大的厂商,其面临的制度调整成本越小。%Whether the institutional cost will affect the investment decision of corporate or not How it affected the decision -making In this paper , based on the investment model , we put the institutional cost into the model to explore how it affects the capital stock of a corporate and the manufacturer's investment decisions .With the reduction of capital stock , the marginal cost of institution-al adjustment is increased , which means the marginal cost to adjust the size of cost declining .The results of the theoretical model and the Panel Data Model analysis showed that:(1) Under the condition of profit maximization , the market value of a unit capital is equal to the purchase price (one plus the marginal institutional cost ) and the sum of the marginal economic costs;(2) with re-spect to the larger internal economic adjustment costs , the proportion of the capital stock should be larger .The institutional adjust-ment costs of large corporations would be smaller .

  4. Wood pellet production costs under Austrian and in comparison to Swedish framework conditions

    Energy Technology Data Exchange (ETDEWEB)

    Thek, Gerold [Bios Bioenergiesysteme GmbH, Graz (Austria); Obernberger, Ingwald [Bios Bioenergiesysteme GmbH, Graz (Austria); Graz Univ. of Technology, Inst. for Resource Efficient and Sustainable Systems, Graz (Austria)

    2004-12-01

    Owing to the rapidly increasing importance of pellets as high-quality biomass fuel in Austria and Europe within the last years, many companies, mainly from the wood industry, are thinking of entering this market. The calculation of the production costs before starting a pellet plant is essential for an economic operation. Based on comprehensive investigations within the EU-ALTENER project 'An Integrated European Market for Densified Biomass Fuels', calculations of the pellet production costs loco factory for different framework conditions with basic data based on already realised plants as well as a questionnaire survey of pellet producers in Austria, South Tyrol and Sweden have been performed. The production costs for wood pellets are mainly influenced by the raw material costs and, in the case of using wet raw materials, by the drying costs. Depending on the framework conditions these two parameters can contribute up to one-third of the total pellet production costs. Other important parameters influencing the pellet production costs are the plant utilisation (number of shifts per week) as well as the availability of the plant. For an economic production of wood pellets at least three shifts per day at 5 days per week are necessary. An optimum would be an operation at 7 days per week. A low plant availability also leads to greatly increased pellet production costs. A plant availability of 85-90% should therefore be achieved. The calculations show that a wood pellet production is possible both in small-scale (production rates of some hundred tonnes per year) as well as in large-scale plants (some ten thousand tonnes per year). However, especially for small-scale units it is very important to take care of the specific framework conditions of the producer, because the risk of a non-economic pellet production is considerably higher than for large-scale systems. The direct comparison of typical pellet production costs in Austria and Sweden showed the Swedish

  5. A Cost Comparison of Alternative Approaches to Distance Education in Developing Countries

    Science.gov (United States)

    Ventre, Gerard G.; Kalu, Alex

    1996-01-01

    This paper presents a cost comparison of three approaches to two-way interactive distance learning systems for developing countries. Included are costs for distance learning hardware, terrestrial and satellite communication links, and designing instruction for two-way interactive courses. As part of this project, FSEC is developing a 30-hour course in photovoltaic system design that will be used in a variety of experiments using the Advanced Communications Technology Satellite (ACTS). A primary goal of the project is to develop an instructional design and delivery model that can be used for other education and training programs. Over two-thirds of the world photovoltaics market is in developing countries. One of the objectives of this NASA-sponsored project was to develop new and better energy education programs that take advantage of advances in telecommunications and computer technology. The combination of desktop video systems and the sharing of computer applications software is of special interest. Research is being performed to evaluate the effectiveness of some of these technologies as part of this project. The design of the distance learning origination and receive sites discussed in this paper were influenced by the educational community's growing interest in distance education. The following approach was used to develop comparative costs for delivering interactive distance education to developing countries: (1) Representative target locations for receive sites were chosen. The originating site was assumed to be Cocoa, Florida, where FSEC is located; (2) A range of course development costs were determined; (3) The cost of equipment for three alternative two-way interactive distance learning system configurations was determined or estimated. The types of system configurations ranged from a PC-based system that allows instructors to originate instruction from their office using desktop video and shared application software, to a high cost system that uses a

  6. A Guide To Measuring College Costs.

    Science.gov (United States)

    Winston, Gordon C.

    2000-01-01

    Argues that full-cost models in higher education fail to account correctly for capital and financial aid expenditures. Urges full accounting of all cost drivers that impact on higher education expenditures, e.g., operating costs, maintenance costs, physical capital costs, the current replacement value of capital stock, and the opportunity cost of…

  7. Comparisons of Two Commercial and Two Low-cost Interfaces for Virtual Skiing

    DEFF Research Database (Denmark)

    Nilsson, Niels Chr.; Serafin, Stefania; Nordahl, Rolf

    2015-01-01

    In this paper we present two comparisons of two novel physical interface for interacting with a virtual environment in the form of a skiing game. The interfaces were compared through two separate within-subjects studies. In the first study we compared a wobble board augmented with a low-cost 3D...... accelerometer with the Wii Balance Board, and in the second study we compared a step machine augmented with the same accelerometer with the Wii Balance Board. Keyboard and mouse peripherals were included in both studies in order to see how the novel interfaces and the Wii Balance Board would measure up against...

  8. Component-cost and performance based comparison of flow and static batteries

    Science.gov (United States)

    Hopkins, Brandon J.; Smith, Kyle C.; Slocum, Alexander H.; Chiang, Yet-Ming

    2015-10-01

    Flow batteries are a promising grid-storage technology that is scalable, inherently flexible in power/energy ratio, and potentially low cost in comparison to conventional or "static" battery architectures. Recent advances in flow chemistries are enabling significantly higher energy density flow electrodes. When the same battery chemistry can arguably be used in either a flow or static electrode design, the relative merits of either design choice become of interest. Here, we analyze the costs of the electrochemically active stack for both architectures under the constraint of constant energy efficiency and charge and discharge rates, using as case studies the aqueous vanadium-redox chemistry, widely used in conventional flow batteries, and aqueous lithium-iron-phosphate (LFP)/lithium-titanium-phosphate (LTP) suspensions, an example of a higher energy density suspension-based electrode. It is found that although flow batteries always have a cost advantage (kWh-1) at the stack level modeled, the advantage is a strong function of flow electrode energy density. For the LFP/LTP case, the cost advantages decreases from ∼50% to ∼10% over experimentally reasonable ranges of suspension loading. Such results are important input for design choices when both battery architectures are viable options.

  9. Capital rewarding of the electric power enterprises: a comparative analysis; Remuneracao de capital das distribuidoras de energia eletrica: uma analise comparativa

    Energy Technology Data Exchange (ETDEWEB)

    Rocha, Katia; Braganca, Gabriel Fiuza de [Instituto de Pesquisa Economica Aplicada (IPEA), Brasilia, DF (Brazil)]. E-mails: katia@ipea.gov.br; gabriel@ipea.gov.br; Camacho, Fernando [Banco Nacional de Desenvolvimento Economico e Social (BNDES), Rio de Janeiro, RJ (Brazil)]. E-mail: camacho@bndes.gov.br

    2006-07-01

    We analyze the electricity distribution segment in Brazil from 1998 to June 2005, trying to assess whether the return on capital invested was in line with the risk and opportunity cost required in the segment. We conclude that the return on capital in this segment in Brazil was systematically negative until 2003. Only in 2005 did the distribution segment really begin to recover, presenting profitability partly consistent with the estimated cost of capital. Comparisons with Argentine, Chilean and American companies reveal that firms in the latter two countries, particularly in Chile, generally managed to reward shareholders according to the opportunity cost of capital. We find evidence of differential effects of regulatory characteristics between the price-cap and cost-plus regimes in the segment's financial profitability, since the return on capital invested was more uniform and predictable in American companies, which are subject to regulation by an internal rate of return or cost-plus mechanism, than in Brazilian firms, subject to price-cap regulation. Among the groups with greater return to profitability after the rationing episode in Brazil in 2002 are EDP Brazil, CPFL Energia, Neoenergia and starting in 2004, Elektro and companies still in government hands. The EDF Group performed the worst in the study period, with negative returns from 1999 onward. (author)

  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. Effectiveness and cost-effectiveness of antidepressants in primary care: a multiple treatment comparison meta-analysis and cost-effectiveness model.

    Directory of Open Access Journals (Sweden)

    Joakim Ramsberg

    Full Text Available OBJECTIVE: To determine effectiveness and cost-effectiveness over a one-year time horizon of pharmacological first line treatment in primary care for patients with moderate to severe depression. DESIGN: A multiple treatment comparison meta-analysis was employed to determine the relative efficacy in terms of remission of 10 antidepressants (citalopram, duloxetine escitalopram, fluoxetine, fluvoxamine mirtazapine, paroxetine, reboxetine, sertraline and venlafaxine. The estimated remission rates were then applied in a decision-analytic model in order to estimate costs and quality of life with different treatments at one year. DATA SOURCES: Meta-analyses of remission rates from randomised controlled trials, and cost and quality-of-life data from published sources. RESULTS: The most favourable pharmacological treatment in terms of remission was escitalopram with an 8- to 12-week probability of remission of 0.47. Despite a high acquisition cost, this clinical effectiveness translated into escitalopram being both more effective and having a lower total cost than all other comparators from a societal perspective. From a healthcare perspective, the cost per QALY of escitalopram was €3732 compared with venlafaxine. CONCLUSION: Of the investigated antidepressants, escitalopram has the highest probability of remission and is the most effective and cost-effective pharmacological treatment in a primary care setting, when evaluated over a one year time-horizon. Small differences in remission rates may be important when assessing costs and cost-effectiveness of antidepressants.

  12. Allergy Capitals

    Science.gov (United States)

    ... Health Professionals Partners Media Donate Research 2016 Fall Allergy Capitals If you’re one of the millions ... needs of their residents with allergic diseases. Fall Allergies by the Numbers Nasal allergies affect more than ...

  13. 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.

  14. Capitalizing China

    OpenAIRE

    Joseph Fan; Randall Morck; Bernard Yeung

    2011-01-01

    Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement of all senior personnel in all regulatory agencies, all state-owned enterprises (SOEs), and virtually all major financial institutions state-owned enterprises (SOEs), and senior Party positions in all ...

  15. Understanding Capitalism

    DEFF Research Database (Denmark)

    du Gay, Paul; Morgan, Glenn

    2013-01-01

    if they are to be sustained. Such logics are stabilized to the degree that they can pass the tests which they set themselves. The chapter shows how the projective city has increasingly failed these tests. It has instead created a privileged group of ‘mobile citizens’ working with mobile, global capital in ways...... general application particularly in the context of the current crisis of capitalism....

  16. DOSTOYEVSKI'S "CAPITAL"

    OpenAIRE

    GUNAL, E. Zeynep

    2012-01-01

    Dostoyevski who was always in need of money and in debt, wrote two great novels about capital: "Idiot" and "Crime and Punishment". In these novels the writer tries to prove the negative effects of capital on people. This article particularly focuses on "Crime and Punishment". Because crime is discussed as the multi-dimensional factor in this work. Moreover, it is claimed that in the troika of crime which formed of Raskolnikov, Svidrigaylov and Luzhin, Luzhin is the most dangerous character w...

  17. Diagnosis of Meningeoma: A comparison of costs before CT, during CT and after introduction of MR imaging

    Energy Technology Data Exchange (ETDEWEB)

    Laurila, J.; Suramo, I. [Oulu Univ. Central Hospital (Finland). Dept. of Radiology; Brommels, M. [Helsinki Univ. (Finland). Dept. of Public Health; Servo, A.; Kotikangas, J.; Standertskjoeld-Nordenstam, C.G. [Helsinki Univ. Central Hospital (Finland). Dept. of Radiology

    2000-11-01

    To assess whether the capital investment required by advances in radiological technology is offset by savings in the direct costs of diagnostic services. Material and Methods: Meningeoma was used as an indicator case. All meningeoma patients from three study periods were included: Twenty patients in 1976-77 before the introduction of CT, 22 patients in 1984-85 when CT was used and 16 patients in 1992 when MR imaging had replaced CT as the most informative imaging modality. Radiological and other diagnostic investigations, and the hospital stay were identified and cost analyzed. Results: The costs of radiological examinations increased from 293 Euros in 1976/77 to 513 Euros in 1992. The average number of diagnostic examinations per patient decreased from 5.1 in 1976/77 to 2.4 in 1992. The length of hospital stay decreased from 11.5 to 2.7 days and the total costs of the diagnostic work-up decreased to one-third of the original, i.e. from 3423 Euros in 1976-77 to 1282 Euros in 1992. Conclusion: The costs of the radiological examinations rose, but the development of radiological technology simplified the diagnostic practice. The hospital stay drastically decreased. The total costs of diagnostic work-up per patient dropped to one-third of the baseline costs.

  18. Comparison of E-Book Acquisitions Strategies Across Disciplines Finds Differences in Cost and Usage

    Directory of Open Access Journals (Sweden)

    Laura Costello

    2017-03-01

    other studies of this kind so the conclusions made are appropriate for local application, even if they are not broadly generalizable. The authors also relied on combined subject designations and use for each of their package collections. Because the authors used three broad disciplinary categories and did not consider large interdisciplinary packages, this likely did not significantly influence the results. Future studies approaching this question might use a common subject classification for all acquisitions strategies, especially when considering databases with general content. Future studies could also move beyond descriptive statistics for ranking and examine the statistical significance of differences in cost and cost per use. This study represents an important contribution to the landscape of findings on this topic, particularly for collections and acquisitions librarians. The results of this article persuaded the authors to change acquisitions processes to favor more cost-effective methods. Further research, including more meta-analysis of acquisitions strategies, is needed before these results can be generalized to all libraries, but librarians assessing their own collections will find this a good template for comparison.

  19. District energy: an important factor in the socially and environmentally responsible solution for the electric power industry; (requiring greater accelerated capital cost allowance treatment for income tax purposes)

    Energy Technology Data Exchange (ETDEWEB)

    Boucher, P. [HSBC James Capel Canada Inc. (Canada); Stevens, S. [Business Development Consumers Utilities (Canada)

    1996-09-01

    The considerable amount of risk associated with the investment in district energy systems was discussed. It was explained that district energy projects frequently require additional capital allowances, particularly in the initial years of a typical project, in order to attract private capital investments to the industry. Advantages of district energy systems were reviewed, among them reduction in CO{sub 2} and NO{sub x} emissions, enhancing energy conservation through the use of high efficiency boilers or thermal waste energy, increasing tax revenue at various levels of government, providing much-needed capital injection into communities, providing construction and operation jobs, and allowing electric utilities to offer cogeneration from older plants helping to avoid stranded investments. 1 tab.

  20. Optimal Dividends of Diffusion Model with Capital Injection and Transaction Cost%带注资和交易费用的扩散模型的最优分红

    Institute of Scientific and Technical Information of China (English)

    岳毅蒙; 王欣; 赵锐

    2016-01-01

    Issues about optimal dividends strategies of the model are discussed based on diffusion model with capital injection and transaction cost and by realizing the difference of maximization of value of expec-tation which equals to discounted dividends of shareholders minus punishment discounting capital injection as a target.The corresponding solutions and optimal dividend strategies are deduced through related HJB e-quation built by stochastic control theory.%在带注资和交易费用的扩散模型基础上,以股东的折现分红减去惩罚折现注资的差的期望值最大化为目标,讨论了模型的最优分红策略问题.由随机控制理论建立相应的HJB方程,得到了相应的解及最优分红策略.

  1. ANCAMAN CAPITAL INFLOW

    Directory of Open Access Journals (Sweden)

    Teguh Sihono

    2011-01-01

    Full Text Available Capital inflow can be interpreted as an increase in the amount of money available from external or foreign sources for the purchase of local capital assets such as securities, houses, buildings, land, machinery. These short-term asset purchase, so if at any time be withdrawn in large quantities, it will endanger the country's economy. The swift flow of foreign funds may be a threat to the country which became the capital inflow in the form of options: pressure of inflation, high cost economy, the defisit Central Bank balance, the economic turbulence, and the threat of economic growth. Improvement of high economic growth accompanied by rising foreign exchange reserves that high also, it turns out is not free from the risk of unbridled inflation and economic cricis, destabilizing the economy during those funds withdrawn by foreign investors. For the avoidance of economic risk, should the government together with the Central Bank made a rule to direct capital inflow into the real sektor. Keywords: capital inflows, global likuiditas

  2. Measuring Inflation in Public Libraries: A Comparison of Two Approaches, the Input Cost Index and the Cost of Services Index.

    Science.gov (United States)

    Chambers, Jay C.; Vergun, Robert

    1999-01-01

    Presents two approaches to measuring the inflation faced by public libraries: (1) an approach based on a fixed market basket of the prices of library inputs; and (2) an approach based on an econometric model of library services and costs that yields a costs of services index. Discusses uses of both models. (SLD)

  3. Measurement of capital stock and input services of Spanish banks

    OpenAIRE

    Alfredo Martín-Oliver; Vicente Salas-Fumás; Jesús Saurina

    2007-01-01

    This paper contains estimates of physical and intangible (information technology, advertising and training) capital stock, together with capital, labor and externally provided input services, of Spanish commercial and saving banks in the period 1983 to 2003. Capital stocks are valued at replacement costs and assets’ services flows are computed using estimates of the risk-adjusted user cost of capital. Replacement costs of assets are substantially higher than book values and economic estimates...

  4. 7 CFR 3560.304 - Initial operating capital.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Initial operating capital. 3560.304 Section 3560.304... capital. (a) Purpose. To provide a source of capital for start-up costs, such as the purchase of equipment... initial operating capital contribution to the general operating account as described in § 3560.64....

  5. 47 CFR 32.2681 - Capital leases.

    Science.gov (United States)

    2010-10-01

    ... FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.2681 Capital leases. (a... lease payments, excluding that portion of the payments representing executory costs to be paid by the... this account at the inception of a capital lease shall be equal to the original cost, if known, or...

  6. "If You Show Who You Are, Then They Are Going to Try to Fix You": The Capitals and Costs of Schooling for High-Achieving Latina Students

    Science.gov (United States)

    Locke, Leslie Ann; Tabron, Lolita A.; Venzant Chambers, Terah T.

    2017-01-01

    Schools are supposed to be places where students learn academic and technical skills while also expanding their social networks. Although much research exists that examines academic achievement from a variety of lenses, schools and educators continue to lack insight into the various strengths--or capital--students bring with them to school…

  7. 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....

  8. Toward the Standardization of Biochar Analysis: The COST Action TD1107 Interlaboratory Comparison.

    Science.gov (United States)

    Bachmann, Hans Jörg; Bucheli, Thomas D; Dieguez-Alonso, Alba; Fabbri, Daniele; Knicker, Heike; Schmidt, Hans-Peter; Ulbricht, Axel; Becker, Roland; Buscaroli, Alessandro; Buerge, Diane; Cross, Andrew; Dickinson, Dane; Enders, Akio; Esteves, Valdemar I; Evangelou, Michael W H; Fellet, Guido; Friedrich, Kevin; Gasco Guerrero, Gabriel; Glaser, Bruno; Hanke, Ulrich M; Hanley, Kelly; Hilber, Isabel; Kalderis, Dimitrios; Leifeld, Jens; Masek, Ondrej; Mumme, Jan; Carmona, Marina Paneque; Calvelo Pereira, Roberto; Rees, Frederic; Rombolà, Alessandro G; de la Rosa, José Maria; Sakrabani, Ruben; Sohi, Saran; Soja, Gerhard; Valagussa, Massimo; Verheijen, Frank; Zehetner, Franz

    2016-01-20

    Biochar produced by pyrolysis of organic residues is increasingly used for soil amendment and many other applications. However, analytical methods for its physical and chemical characterization are yet far from being specifically adapted, optimized, and standardized. Therefore, COST Action TD1107 conducted an interlaboratory comparison in which 22 laboratories from 12 countries analyzed three different types of biochar for 38 physical-chemical parameters (macro- and microelements, heavy metals, polycyclic aromatic hydrocarbons, pH, electrical conductivity, and specific surface area) with their preferential methods. The data were evaluated in detail using professional interlaboratory testing software. Whereas intralaboratory repeatability was generally good or at least acceptable, interlaboratory reproducibility was mostly not (20% < mean reproducibility standard deviation < 460%). This paper contributes to better comparability of biochar data published already and provides recommendations to improve and harmonize specific methods for biochar analysis in the future.

  9. Intelligence Capital

    Directory of Open Access Journals (Sweden)

    Maid Pajevic

    2011-08-01

    Full Text Available The author of this article presents a new theoretical concept of intelligence capital, with which he explains the multi-meaningful term ‘intelligence’. The author offers a conceptual frame „intelligence capital“ as a generic complex consisting of four interactively linked elements. The contribution of this article is, among other things, an answer to a question: What is an applicative value of intelligence capital as a new theoretical concept for the sys­tem of security and intelligence of BiH? Historical context implies greater responsibility of OSA BiH in realising its preventive function of protecting security of BiH and its citizens. Theoretical frame of the intelligence capital implies that the system of security and intelligence of BiH should be able to respond to strategic questions: to know-what, to know – why, to know – how, to know – who.

  10. Capital Unchained

    DEFF Research Database (Denmark)

    Bryan, Dick; Rafferty, Michael; Wigan, Duncan

    2017-01-01

    The rise of intangible assets such as brand names, research and development, patents and other forms of abstract capital such as digital platforms and data flows has confounded extant measures and concepts of capital and accumulation. What used to be a residual asset category known as ‘goodwill......’ has now overtaken so-called fixed or tangible assets in the profitability and valuation of many leading corporations. Yet these intangible assets lead a double life as both spatial and temporal in some dimensions, yet fluid and spatio-temporally elusive in others. Using a framework focused...... 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...

  11. Intelligence Capital

    OpenAIRE

    Maid Pajevic

    2011-01-01

    The author of this article presents a new theoretical concept of intelligence capital, with which he explains the multi-meaningful term ‘intelligence’. The author offers a conceptual frame „intelligence capital“ as a generic complex consisting of four interactively linked elements. The contribution of this article is, among other things, an answer to a question: What is an applicative value of intelligence capital as a new theoretical concept for the sys­tem of security and intelligence of Bi...

  12. Comparison between Different Scheduling Strategies by Using Cost239 Optical Network

    Directory of Open Access Journals (Sweden)

    Pooja Meena, Manish Shrivastava, Sushil Chaturvedi

    2012-12-01

    Full Text Available In this paper we present different demand policies in scheduled lightpath demand (SLDs .SLD is a demand for a set of lightpaths (connections, defined by a tuple (s,d,n,α,ω where s and d are the source and destination nodes of the lightpaths, n is the number of requested lightpaths α, ω and are the set-up and tear-down times of the lightpaths. The objective of this paper to increase resource utilization ratio by using channel reuse. In this paper we works on Cost 239 network by assigning the same channel to several lightpaths, by using different wavelengths which varies according to the time (set-up and tear-down.By comparison of demand policies which also depend upon time(set-up and tear-down every demand policy has own schedule. By using Cost 239 network we found the result which demand policy is effective and scheduled first and we compare each policy by using graphical representation and then find which policy is best for scheduling and increase the resource utilization .

  13. Preference weights for cost-outcome analyses of schizophrenia treatments: comparison of four stakeholder groups.

    Science.gov (United States)

    Shumway, Martha

    2003-01-01

    This study quantified preferences for schizophrenia outcomes in four stakeholder groups, tested the hypotheses that outcomes differ in importance and stakeholder groups have different preferences, and produced preference weights for seven outcomes for cost-outcome analysis. Fifty patients with schizophrenia, 50 clinicians, 41 family members of patients, and 50 members of the general public rated 16 schizophrenia-related health states, yielding preference weights for seven outcomes: positive symptoms, negative symptoms, extrapyramidal symptoms, tardive dyskinesia, social function, independent living, and vocational function. Outcomes differed in importance (F = 23.4, p stakeholders rated positive symptoms and social functioning as more important than negative and extrapyramidal symptoms. Stakeholder groups had different preferences (F = 1.9, p = 0.01). Patients rated extrapyramidal symptoms as more important than did other groups (p important than did patients or family members (p important than did patients and the general public (p important and that stakeholder groups value outcomes differently, demonstrating the importance of incorporating stakeholder preferences in cost-outcome analyses and other treatment comparisons.

  14. Capital Challenge

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    China is on its way to establishing its own venture capital industry Venture capitalists will find no safe haven worldwide as the prospects for the majority of economies to pick up remain dim for the next two years. Still, if some of them have the money and

  15. The Mechanism between Internal Control Information Disclosure and Cost of Capital Equity%论内控信息披露与股权融资成本关系的作用机理

    Institute of Scientific and Technical Information of China (English)

    熊伟; 张艳

    2015-01-01

    随着我国资本市场的不断发展,上市公司的内部控制信息披露和股权融资成本表现出重要的关系。委托代理理论、信息不对称理论、信号传递理论都说明了上市公司主动且详细地披露内控信息的上市公司,其发展潜力巨大。投资者预期风险和股票流动性是内控信息披露质量与股权融资成本的关系的间接因素,内控信息披露质量越高,投资者对未来预期的风险就越小,股权融资成本就越低,同时,内控信息披露质量越高,股票流动性就越高,从而可以降低股权融资成本。%With the rapid development of our capital market, the internal control information disclosure and cost of capital equity of listed companies have been closely related. Principal-agency theory, information asymmetry theory and signaling theory have all demonstrated that listed companies will enjoy huge development potentials if they take the initiative to disclose their internal control information at great lengths. Investor expectation of risk and stock liquidity can, to some extent, affect the relationship between the two. The better the internal control information disclosure is, the lower the investor expectation of risk will be. In addition, the better internal control information dis-closure can also speed up stock exchange and thus bring down the cost of capital equity.

  16. 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

  17. Costs and benefits of home care for the elderly versus residential care: a comparison using propensity scores

    NARCIS (Netherlands)

    Kok, L.; Berden, C.; Sadiraj, K.

    2015-01-01

    A comparison of the costs of residential care and home care shows that the former is more expensive for society. However, elderly people seem to be happier in residential care. All stakeholders, except the state (and thus the taxpayer), benefit if elderly people enter residential care. This reveals

  18. Cost-Effectiveness Comparison of Breast Cancer Screening and Vascular Event Primary Prevention with Aspirin in Wales

    Science.gov (United States)

    Morgan, Gareth

    2011-01-01

    Aim: For the first time, this article presents a cost-effectiveness comparison of a breast cancer screening programme with a possible health education programme with aspirin for vascular event primary prevention. Background: Breast cancer screening is a well established part of cancer control programmes yet recent evidence on this intervention has…

  19. The Effect of Institutional Investors on Cost of Capital under the Investment Behavior Heterogeneity:An Evidence from China' s Capital Market%异质机构投资者持股对资本成本的影响研究——基于沪深 A 股上市公司的数据

    Institute of Scientific and Technical Information of China (English)

    霍晓萍

    2015-01-01

    Take A-share companies listed in the stock market in 2005~2012 as a sample, from the perspec-tive of investment behavior heterogeneity of institutional investors, the paper uses an Ordinary Least Squares regres-sion and the fixed effect model method to verify the effect of institutional investors on the cost of capital.The result from all samples is that institutional investors have a negative effect on cost of capital and they have played a posi-tive role in the listing corporate management.The results from sub-samples further show that institutional investors holding a large number of its shares can effectively reduce the cost of capital.Institutional investors holding a small number of its shares have a negative impact on corporate governance.Holding period of institutional investors has a significant effect on the decrease degree of cost of capital, and institutional investors with longer holding period can more effectively reduce the cost of capital and enhance the level of corporate governance.The paper makes a contri-bution to the institutional investors' role in corporate governance, and also casts a light on how to further promote the reform of China' s securities market.%基于机构投资者投资行为异质的视角,利用我国沪深A股上市公司2005~2012年的数据,运用多元回归和固定效应模型等方法,从机构投资者持股与否、持股高低和持股期限等多个方面实证检验机构投资者对上市公司资本成本的影响. 研究结果显示:机构投资者持股比例与资本成本之间显著负相关;持股比例较高时机构投资者能有效降低资本成本,提升上市公司治理水平;持股比例较低时机构投资者对公司治理产生负面影响,不利于改善公司治理水平;机构投资者的持股期限影响其降低资本成本的程度,持股期限越长,降低资本成本的作用越显著. 对机构投资者异质投资行为的研究为理解机构投资者的治理角色提供了新

  20. Virtual Versus In-Person Focus Groups: Comparison of Costs, Recruitment, and Participant Logistics

    Science.gov (United States)

    Poehlman, Jon A; Hayes, Jennifer J; Ray, Sarah E; Moultrie, Rebecca R

    2017-01-01

    Background Virtual focus groups—such as online chat and video groups—are increasingly promoted as qualitative research tools. Theoretically, virtual groups offer several advantages, including lower cost, faster recruitment, greater geographic diversity, enrollment of hard-to-reach populations, and reduced participant burden. However, no study has compared virtual and in-person focus groups on these metrics. Objective To rigorously compare virtual and in-person focus groups on cost, recruitment, and participant logistics. We examined 3 focus group modes and instituted experimental controls to ensure a fair comparison. Methods We conducted 6 1-hour focus groups in August 2014 using in-person (n=2), live chat (n=2), and video (n=2) modes with individuals who had type 2 diabetes (n=48 enrolled, n=39 completed). In planning groups, we solicited bids from 6 virtual platform vendors and 4 recruitment firms. We then selected 1 platform or facility per mode and a single recruitment firm across all modes. To minimize bias, the recruitment firm employed different recruiters by mode who were blinded to recruitment efforts for other modes. We tracked enrollment during a 2-week period. A single moderator conducted all groups using the same guide, which addressed the use of technology to communicate with health care providers. We conducted the groups at the same times of day on Monday to Wednesday during a single week. At the end of each group, participants completed a short survey. Results Virtual focus groups offered minimal cost savings compared with in-person groups (US $2000 per chat group vs US $2576 per in-person group vs US $2,750 per video group). Although virtual groups did not incur travel costs, they often had higher management fees and miscellaneous expenses (eg, participant webcams). Recruitment timing did not differ by mode, but show rates were higher for in-person groups (94% [15/16] in-person vs 81% [13/16] video vs 69% [11/16] chat). Virtual group

  1. Is Social Capital an Effective Smoke Condenser?

    DEFF Research Database (Denmark)

    Paldam, M.; Svendsen, Gert Tinggaard

    1999-01-01

    be added to human and physical capital, or it might enter as a reduction in either transaction or monitoring costs. A direct and an indirect way to measure social capital are discussed. The crucial question is if social capital can be changed. That is, if self enforcement can replace third party......Social capital is defined as mutual trust. It is related to production by a key hypothesis: social capital determines how easily people work together. An easy-to-use proxy (Putnam's Instrument) is the density of voluntary organizations. Social capital might be a new production factor which must...... enforcement, and it is discussed how much harm totalitarian regimes do to social capital, when they expand their area of central control....

  2. Healthcare Service Use and Costs for Autism Spectrum Disorder: A Comparison between Medicaid and Private Insurance

    Science.gov (United States)

    Wang, Li; Mandell, David S.; Lawer, Lindsay; Cidav, Zuleyha; Leslie, Douglas L.

    2013-01-01

    Healthcare costs and service use for autism spectrum disorder (ASD) were compared between Medicaid and private insurance, using 2003 insurance claims data in 24 states. In terms of costs and service use per child with ASD, Medicaid had higher total healthcare costs (22,653 vs. 5,254), higher ASD-specific costs (7,438 vs. 928), higher psychotropic…

  3. Capitalizing Central Banks: A Net Worth Approach

    OpenAIRE

    Alain Ize

    2005-01-01

    This paper provides a simple, quantitative, net worth-based, approach to assessing the need for central bank capital. It derives a concept of "core capital" (a function of the central bank's operating expenditures and the carrying cost of its international reserves) as the minimum capital needed by a central bank to ensure the credibility of its inflation target. The approach is illustrated with the published accounts of three loss-making central banks and selected accounting entries for a br...

  4. Emerging Forms of Cultural Capital

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

    – and hence are highly appropriate for direct comparisons with that study. This paper will begin by raising general issues regarding the meaning of the concept, and about how one may make assessments and claims about cultural capital. Here we consider how the legitimacy of certain cultural competencies...... assessment of the arguments made, including those made in the studies we have been involved in ourselves (the study of cultural capital and social exclusion in the UK, and the study of the Danish city Aalborg). Secondly, the paper looks into the different claims that are made in empirical studies after......This paper reviews recent European studies to assess whether cultural capital now has the same characteristics – or may be rather the same functions - as when Distinction was written. The paper will examine empirical applications of the concept of cultural capital in leading European studies...

  5. Comparison and Association of Intellectual Capital: An Investigation and Measurement of the Value of Intellectual Capital Assets and Their Contribution to Stakeholder Perception within the Framework of Higher Education

    Science.gov (United States)

    Helm Stevens, Roxanne

    2011-01-01

    PROBLEM: Many of the preliminary approaches to strategic management of intellectual capital or knowledge assets have not been attempted in the not-for-profit arena. Additionally, because there is no marketplace value for not-for-profit firms or a valuation system for intangible assets, the identification and measurement necessary for efficient and…

  6. Validity and cost comparison of "carbon urea breath test for diagnosis of H Pylori in dyspeptic patients

    Institute of Scientific and Technical Information of China (English)

    Shahid Rasool; Shahab Abid; Wasim Jafri

    2007-01-01

    AIM: To validate and compare the cost of microdose 14C urea breath test (UBT) with histology and rapid urease test for the diagnosis of H Pylori.METHODS: Ninety-four consecutive patients with dyspeptic symptoms undergoing gastroscopy were enrolled. Gastric biopsies were taken for histology and rapid urease test. UBT was performed after gastroscopy by microdose "C urea capsules. Sensitivity, specificity and accuracy of UBT were calculated and compared with histology and rapid urease test. Cost comparison of these tests was also performed.RESULTS: H pylori was diagnosed by histology and rapid urease test in 66 (70%) and 61 (65%) patients, while 14C UBT detected infection in 63 (67%). Accuracy of UBT was 93% in comparison with histology while its positive and negative predictive values were 97% and 84%, respectively. Comparison of 14C UBT with rapid urease test gives an accuracy of 96%, with positive and negative predictive values of 95% and 97%, respectively. These results were highly reproducible with a Kappa test (P value < 0.001). Cost of histology or rapid urease test with gastroscopy was 110 USD or 95 USD respectively while the cost of UBT was 15 USD.CONCLUSION: Microdose 14C UBT was comparable to histology and rapid urease test. 14C UBT is an economical, self sufficient and suitable test to diagnose active Hpylori infection in less developed countries.

  7. 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...

  8. Human Capital Development: Comparative Analysis of BRICs

    Science.gov (United States)

    Ardichvili, Alexandre; Zavyalova, Elena; Minina, Vera

    2012-01-01

    Purpose: The goal of this article is to conduct macro-level analysis of human capital (HC) development strategies, pursued by four countries commonly referred to as BRICs (Brazil, Russia, India, and China). Design/methodology/approach: This analysis is based on comparisons of macro indices of human capital and innovativeness of the economy and a…

  9. SLUDGE TREATMENT PROJECT COST COMPARISON BETWEEN HYDRAULIC LOADING AND SMALL CANISTER LOADING CONCEPTS

    Energy Technology Data Exchange (ETDEWEB)

    GEUTHER J; CONRAD EA; RHOADARMER D

    2009-08-24

    The Sludge Treatment Project (STP) is considering two different concepts for the retrieval, loading, transport and interim storage of the K Basin sludge. The two design concepts under consideration are: (1) Hydraulic Loading Concept - In the hydraulic loading concept, the sludge is retrieved from the Engineered Containers directly into the Sludge Transport and Storage Container (STSC) while located in the STS cask in the modified KW Basin Annex. The sludge is loaded via a series of transfer, settle, decant, and filtration return steps until the STSC sludge transportation limits are met. The STSC is then transported to T Plant and placed in storage arrays in the T Plant canyon cells for interim storage. (2) Small Canister Concept - In the small canister concept, the sludge is transferred from the Engineered Containers (ECs) into a settling vessel. After settling and decanting, the sludge is loaded underwater into small canisters. The small canisters are then transferred to the existing Fuel Transport System (FTS) where they are loaded underwater into the FTS Shielded Transfer Cask (STC). The STC is raised from the basin and placed into the Cask Transfer Overpack (CTO), loaded onto the trailer in the KW Basin Annex for transport to T Plant. At T Plant, the CTO is removed from the transport trailer and placed on the canyon deck. The CTO and STC are opened and the small canisters are removed using the canyon crane and placed into an STSC. The STSC is closed, and placed in storage arrays in the T Plant canyon cells for interim storage. The purpose of the cost estimate is to provide a comparison of the two concepts described.

  10. Class Size Reduction or Rapid Formative Assessment?: A Comparison of Cost-Effectiveness

    Science.gov (United States)

    Yeh, Stuart S.

    2009-01-01

    The cost-effectiveness of class size reduction (CSR) was compared with the cost-effectiveness of rapid formative assessment, a promising alternative for raising student achievement. Drawing upon existing meta-analyses of the effects of student-teacher ratio, evaluations of CSR in Tennessee, California, and Wisconsin, and RAND cost estimates, CSR…

  11. Surgical hand rubbing compared with surgical hand scrubbing: comparison of efficacy and costs.

    Science.gov (United States)

    Tavolacci, M P; Pitrou, I; Merle, V; Haghighat, S; Thillard, D; Czernichow, P

    2006-05-01

    The aim of this study was to compare the efficacy of surgical hand rubbing (SHR) with the efficacy of surgical hand scrubbing (SHS), and to determine the costs of both techniques for surgical hand disinfection. A review of studies reported in the literature that compared the efficacy of SHS and SHR was performed using MEDLINE. The costs of SHR and SHS were estimated based on standard hospital costs. The literature showed that SHR had immediate efficacy that was similar to that of SHS, but SHR had a more lasting effect. SHR reduced costs by 67%. In conclusion, SHR is a cost-effective alternative to SHS.

  12. Taxation and venture capital-backed entrepreneurship

    DEFF Research Database (Denmark)

    Keuschnigg, Christian; Nielsen, Søren Bo

    2003-01-01

    In recent years, venture capital has increasingly become a factor in thefinancing of new firms. We examine how the value of mature firms determinesthe incentives of entrepreneurs to start up new firms and of venture capitaliststo finance and advise them. We examine how capital gains taxes as well...... assubsidies to start-up costs of new firms affect venture capital-backedentrepreneurship. We also argue that dividend and capital gains taxes onmature firms have important consequences for start-up firms as well.JEL Classification: D82, G24, H24 and H25Keywords: double moral hazard, entrepreneurship, taxes...

  13. Social and Symbolic Capital in Firm Clusters

    DEFF Research Database (Denmark)

    Gretzinger, Susanne; Royer, Susanne

    Based on a relational perspective this paper analyses the case of the “Mechatronics Cluster” in Southern Jutland, Denmark. We found that cluster managers are not aware of the importance of social and symbolic capital. Cluster managers could have access to both but they are not aware...... of this resource and they don´t have any knowledge how to manage social and symbolic capital. Just to integrate social-capital-supporting initiatives in the day to day business would help to develop and to foster social and symbolic capital on a low cost level. And in our example just to integrate successful sub...

  14. 新准则借款费用资本化会计处理的思考%Some Issues About Capitalization of Borrowing Costs Under New Standards

    Institute of Scientific and Technical Information of China (English)

    叶丹

    2012-01-01

    The Enterprise Accounting Standards,which was issued in February 2006,completed the borrowing costs and formulated the Enterprise Accounting Standards No. 17 - Borrowing Costs,which had a greater impact on corporate accounting. This article,based on the relevant provisions under the new borrowing cost standards,simply analyzed the changes between the old and new standards and the problems in the implementation process of new borrowing cost standards,and then came up with some suggestions on how to improve the borrowing costs guidelines.%财政部颁布的《企业会计准则》对借款费用部分进行了修整,制定了《企业会计准则第17号——借款费用》,这对企业的会计核算产生了较大影响。文章立足新《借款费用准则》中的相关规定,简单分析了新旧准则的变化,对新《借款费用准则》在执行过程中所存在的问题进行的分析,进而就如何完善《借款费用准则》提出了相应的建议。

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

    Science.gov (United States)

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

    2013-05-01

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

  16. Increasing Returns to Education and the Impact on Social Capital

    Science.gov (United States)

    Leeves, Gareth D.

    2014-01-01

    The returns to education have been increasing. It is suggested that high-skilled workers' social capital investment has been adversely affected by the increasing incentives to devote human capital to career development. Lower social capital is linked to reduced economic growth and innovation and higher transaction costs and is detrimental to…

  17. Performance Comparison for Resource Allocation Schemes using Cost Information in Cloud

    Directory of Open Access Journals (Sweden)

    Takahiro KOITA

    2012-11-01

    Full Text Available A wide variety of different types of virtual computer are available in cloud computing, each with different usage costs for processing performance and time. Consequently, similar processing tasks canincur different processing times and processing costs depending on the choice of method used to accomplish them. Since the amounts of time and money that can be spent on processing are not infinite, theprocessing time and usage costs must be reduced as much as possible. In this study, we investigate the allocation of resources in a cloud computing environment with the aim of achieving lower processingtimes and usage costs.

  18. Mengukur Kontribusi Human Capital terhadap Tujuan Perusahaan

    Directory of Open Access Journals (Sweden)

    Brata Wibawa Djojo

    2010-11-01

    Full Text Available Human capital is a valuable asset of any company, especially for competent human resources and contributes both to the company. The performance evaluation given to employees annually can be defined and standardized by the company. However, the question is how big the contribution of human resources to sales and profit contribution is. Case studies take data from one branch of a general insurance company in Indonesia, Jakarta branch. Measurement is done by taking samples of data from 2007, 2008, and 2009. The study measures the risk of several components: (i Human Capital Revenue Factor, (ii Human Economic Value Added, (iii Human Capital Cost Factor, (iv Human Capital Value Added, and (v Human Capital Return on Investment. Results of research can provide guidelines for the management, especially for management of JLI in view of Human Capital contribution to corporate objectives, namely in terms of staffing and agency. 

  19. Organizational Capital of the Enterprise

    Directory of Open Access Journals (Sweden)

    Vladimir Nikiforovich Belkin

    2016-09-01

    Full Text Available In the article, the main theoretical questions of the organizational capital of the enterprise are considered. The concept of «organizational capital of the enterprise» as a system consisting of three subsystems (organization of production, labour organization and management is introduced. It is shown that the organizational capital forms the labour relations system at the enterprise consisting of the cooperation, technological, economic, moral labour relations and the relations of workers’ responsibility. The model of cyclic evolution of crisis at the enterprise caused by shortcomings of the organizational capital is revealed. It is shown that the organizational capital is a basis for the realization of the human capital, which creates value added. A considerable attention is paid to the experience of the creation and functioning of the organizational capital at the enterprises of the Japanese corporation «Toyota». The Russian economic literature on crisis management quite often considers only the financial aspects of diagnostics, proposing the optimization of cash flows, elimination of excess stocks, transition to the medium-term budgeting and others. However, the deep reasons of crisis need to be found not only in financial streams, but also in the system of the work relationships. The shortcomings in the development of technological, cooperation, economic, moral labour relations and the relations of responsibility directly reflects the shortcomings in the development of the elements of the organizational capital as they «are adjusted» by these elements. In turn, organizational problems affect the product quality leading to the customer attrition and decrease in the enterprise’s financial performance. The lack of financial resources cause the need to save costs (first of all, on personnel, that was brightly shown by the economic crisis of 2009 that even more weakens the enterprise and system of labour relations. Finally, the

  20. Cost of treating chronic hepatitis B: Comparison of current treatment guidelines

    Institute of Scientific and Technical Information of China (English)

    Monica Robotin; Yumi Patton; Melanie Kansil; Andrew Penman; Jacob George

    2012-01-01

    AIM:To compare program costs of chronic hepatitis B (CHB) screening and treatment using Australian and other published CHB treatment guidelines.METHODS:Economic modeling demonstrated that in Australia a strategy of hepatocellular cancer (HCC)prevention in patients with CHB is more cost-effective than current standard care,or HCC screening.Based upon this model,we developed the B positive program to optimize CHB management of Australians born in countries of high CHB prevalence.We estimated CHB program costs using the B positive program algorithm and compared them to estimated costs of using the CHB treatment guidelines published by the AsianPacific,American and European Associations for the Study of Liver Disease (APASL,AASLD,EASL) and those suggested by an independent United States hepatology panel.We used a Markov model that factored in the costs of CHB screening and treatment,individualized by viral load and alanine aminotransferase levels,and calculated the relative costs of program components.Costs were discounted by 5% and calculated in Australian dollars (AUD).RESULTS:Using the B positive algorithm,total program costs amount to 13 979 224 AUD,or 9634 AUD per patient.The least costly strategy is based upon using the AASLD guidelines,which would cost 34% less than our B positive algorithm.Using the EASL and the United States Expert Group guidelines would increase program costs by 46%.The largest expenditure relates to the cost of drug treatment (66.9% of total program costs).The contribution of CHB surveillance (20.2%)and HCC screening and surveillance (6.6%) is small -and together they represent only approximately a quarter of the total program costs.CONCLUSION:The significant cost variations in CHB screening and treatment using different guidelines are relevant for clinicians and policy makers involved in designing population-based disease control programs.(C) 2012 Baishideng.All rights reserved.

  1. Activity-Based Costing for Pathology Examinations and Comparison with the Current Pricing System in Turkey

    Directory of Open Access Journals (Sweden)

    Ferda AK ERGÜN

    2013-01-01

    Full Text Available Objective: To demonstrate the real cost data of the pathology examinations by using the activity-based costing method and to contribute to the financial planning of the departments, health managers and also the social security institution.Material and Method: Forty-four examinations selected from the Healthcare Implementation Notification system list and performed at the Ankara University Faculty of Medicine Pathology Department during September 2010 were studied. The analysis and the real cost calculations were done according to the duration of the procedures. Calculated costs were compared with the Healthcare Implementation Notification system and Medicare price lists.Results: The costs of the pathology tests listed within the same pricing levels in the Healthcare Implementation Notification system list showed great differences. The minimum and maximum costs in level 1, 2, 3, and 4 were 15,98-80,15 TL, 15,95-258,59 TL, 42,38- 236,87 TL, and 124,42-406,76 TL, respectively. Medicare price levels were more consistent with the real costs of the examinations compared to the Healthcare Implementation Notification system price list.Conclusion: The prices of the pathology examination listed at different levels in the Healthcare Implementation Notification system lists do not cover the real costs of the work done. The principal parameters of Activity-Based Costing system are more suitable for making the most realistic cost categorization. Although the prices could differ between countries, the Medicare system categories are more realistic than the Healthcare Implementation Notification system. The Healthcare Implementation Notification system list needs to be revised in order to reflect the real costs of the pathology examinations.

  2. Cost comparison between private and public collection of residual household waste: Multiple case studies in the Flemish region of Belgium

    Energy Technology Data Exchange (ETDEWEB)

    Jacobsen, R., E-mail: ray.jacobsen@ugent.be [Department of Agricultural Economics, Ghent University, Coupure Links 653, B-9000 Ghent (Belgium); Buysse, J., E-mail: j.buysse@ugent.be [Department of Agricultural Economics, Ghent University, Coupure Links 653, B-9000 Ghent (Belgium); Gellynck, X., E-mail: xavier.gellynck@ugent.be [Department of Agricultural Economics, Ghent University, Coupure Links 653, B-9000 Ghent (Belgium)

    2013-01-15

    Highlights: Black-Right-Pointing-Pointer The goal is to compare collection costs for residual household waste. Black-Right-Pointing-Pointer We have clustered all municipalities in order to find mutual comparable pairs. Black-Right-Pointing-Pointer Each pair consists of one private and one public operating waste collection program. Black-Right-Pointing-Pointer All cases show that private service has lower costs than public service. Black-Right-Pointing-Pointer Municipalities were contacted to identify the deeper causes for the waste management program. - Abstract: The rising pressure in terms of cost efficiency on public services pushes governments to transfer part of those services to the private sector. A trend towards more privatizing can be noticed in the collection of municipal household waste. This paper reports the findings of a research project aiming to compare the cost between the service of private and public collection of residual household waste. Multiple case studies of municipalities about the Flemish region of Belgium were conducted. Data concerning the year 2009 were gathered through in-depth interviews in 2010. In total 12 municipalities were investigated, divided into three mutual comparable pairs with a weekly and three mutual comparable pairs with a fortnightly residual waste collection. The results give a rough indication that in all cases the cost of private service is lower than public service in the collection of household waste. Albeit that there is an interest in establishing whether there are differences in the costs and service levels between public and private waste collection services, there are clear difficulties in establishing comparisons that can be made without having to rely on a large number of assumptions and corrections. However, given the cost difference, it remains the responsibility of the municipalities to decide upon the service they offer their citizens, regardless the cost efficiency: public or private.

  3. Production cost comparisons of hydrogen from fossil and nuclear fuel and water decomposition

    Science.gov (United States)

    Ekman, K. R.

    1981-01-01

    The comparative costs entailed in producing hydrogen by major technologies that rely on petroleum, natural gas, coal, thermochemical cycles, and electrolysis are examined. Techniques were developed for comparing these processes by formulating the process data and economic assessments on a uniform and consistent basis. These data were normalized to permit a meaningful comparative analysis of product costs of these processes.

  4. Cost comparisons for the use of nonterrestrial materials in space manufacturing of large structures

    Science.gov (United States)

    Bock, E. H.; Risley, R. C.

    1979-01-01

    This paper presents results of a study sponsored by NASA to evaluate the relative merits of constructing solar power satellites (SPS) using resources obtained from the earth and from the moon. Three representative lunar resources utilization (LRU) concepts are developed and compared with a previously defined earth baseline concept. Economic assessment of the alternatives includes cost determination, economic threshold sensitivity to manufacturing cost variations, cost uncertainties, program funding schedule, and present value of costs. Results indicate that LRU for space construction is competitive with the earth baseline approach for a program requiring 100,000 metric tons per year of completed satellites. LRU can reduce earth-launched cargo requirements to less than 10% of that needed to build satellites exclusively from earth materials. LRU is potentially more cost-effective than earth-derived material utilization, due to significant reductions in both transportation and manufacturing costs. Because of uncertainties, cost-effectiveness cannot be ascertained with great confidence. The probability of LRU attaining a lower total program cost within the 30-year program appears to range from 57 to 93%.

  5. 产权性质、债务融资成本与资本结构%Ownership Type,Debt Financing Cost and Capital Structure

    Institute of Scientific and Technical Information of China (English)

    于欢

    2015-01-01

    From the perspective of the debt financing cost impact on the debt ratio,this paper investigates financing discrimination on listed private corporation. It finds that the way that debt financing cost influent on the debt ratio is U-shaped,and the influence between state-owned and private listed corporation have significant differences. The pri-vate listed corporations have lower inflection point than the state-owned listed corporations. When the debt financing cost and debt rate is negative,the leverage of private listed corporation changes in response to debt financing cost more than the state-owned listed corporation.%经济结构的转型升级是我国经济的重要任务,而金融资源分配不合理成为重要的阻碍因素,民营企业面临的信贷歧视就是这种不合理的重要体现。从债务融资成本对负债率影响的角度研究民营上市公司的信贷歧视问题,发现债务融资成本对负债率的影响呈U型,且这种影响在国有和民营上市公司之间有显著差异。表现在民营上市公司比国有上市公司有更低的U型关系拐点,当债务融资成本与负债率负相关时,民营上市公司负债率对债务融资成本变化的反应小于国有上市公司。

  6. 76 FR 21383 - Proposed Collection; Comment Request; Food Reporting Comparison Study (FORCS) and Food and Eating...

    Science.gov (United States)

    2011-04-15

    ... Dietary Recall Method Comparison and the National Cancer Institute (NCI) Observational Feeding Studies... Automated Self- Administered 24-Hour Recall (ASA24) approach to collecting 24 hour recall (24HR) data with... collection period with a total cost to the respondents of $54,293. There are no Capital costs,...

  7. Benchmarking a Transition Economy Capital Market

    Directory of Open Access Journals (Sweden)

    A. Keller

    2007-09-01

    Full Text Available As the centrally planned communist nations of Central Europe lacked liquid and efficient capital markets,financial systems architecture became instrumental to their transition into market economies. Now, afteralmost 17 years of operations, it is time to take a snapshot of one of these economies and compare it to a welldeveloped capital market. This study is the first to provide a quantifiable comparison of the quality of thecapital markets of a fully developed and a transition economy; namely Euronext France [Euronext] and theWarsaw Stock Exchange [WSE]. Using intraday data for the Euronext market and the WSE it is shown thatwhile overall liquidity is certainly much greater in Euronext, range based intra-day volatility is significantlylower in the WSE. For stocks with the highest market capitalisation the WSE has lower transaction costs inthe first [largest] decile than Euronext. These results indicate that while the established market is significantlymore liquid in terms of average trade size and trade numbers it does not always offer lower transaction costsor volatility. This is a new result as most contributions to the literature argue that an emerging market within atransition economy will suffer from excess volatility.

  8. A comparison of costs associated with utility management options for dry active waste

    Energy Technology Data Exchange (ETDEWEB)

    Hornibrook, C. [EPRI, Palo Alto, CA (United States)

    1995-12-31

    The economics of low level waste management is receiving more attention today than ever before. This is due to four factors: (1) the increases in the cost of processing of these wastes; (2) increases in the cost of disposal; (3) the addition of storage costs for those without access to disposal; and (4) the increasing competitive nature of the electric generation industry. These pressures are forcing the industry to update it`s evaluation of the mix of processing that will afford it the best long term economics and minimize it`s risks for unforeseen costs. Whether disposal is available or not, all utilities face the same challenge of minimizing the costs associated with the management of these wastes. There are a number of variables that will impact how a utility manages their wastes but the problem is the uncertainty of what will actually happen, i.e., will disposal be available, when and at what cost. Using the EPRI-developed WASTECOST: DAW code, this paper explores a variety of LLW management options available to utilities. Along with providing the costs and benefits, other technical considerations which play an important part in the management of these wastes are also addressed.

  9. Uterine artery embolization - inpatient and outpatient therapy: a comparison of cost, safety, and patient satisfaction

    Energy Technology Data Exchange (ETDEWEB)

    Baerlocher, M.O.; Asch, M.R.; Hayeems, E.Z.; Rajan, D.K. [Univ. of Toronto, Radiology Residency Training Program, Toronto, Ontario (Canada)]. E-mail: mark.baerlocher@utoronto.ca

    2006-04-15

    To determine whether uterine artery embolization (UAE) can be safely performed as an outpatient procedure without increased complications and readmission rates or decreased patient satisfaction rates and to determine the Canadian cost difference between performing UAE as an outpatient, compared with inpatient, procedure. We performed a retrospective chart review and patient survey of 2 groups of patients, 132 patients who underwent inpatient UAE and 20 patients who underwent outpatient UAE. Of these, 82 and 18, respectively, were successfully surveyed by telephone. Variables examined included presenting complaints, postprocedural symptoms, patient satisfaction, and readmission or complication rates. We also performed a detailed Canadian cost analysis comparing inpatient with outpatient UAE. We did not find any statistically significant difference between inpatient and outpatient UAE on any of the patient variables measured, including presenting complaints, postprocedural symptoms, patient satisfaction, and readmission or complication rates. We also found that outpatient UAE costs significantly less than inpatient UAE, primarily owing to decreased hospital overhead costs for overnight admission. In Ontario, inpatient UAE costs per patient totalled $3216.22, whereas outpatient costs totalled $2194.53 - a saving of $1021.69, which represents a 31.8% cost reduction. Given these results, we recommend that centres consider performing UAE as an outpatient procedure. A key enabling factor is the ability to have several hours of close nursing supervision of the patient postprocedure, prior to discharge. (author)

  10. Life cycle assessment of mobility options using wood based fuels--comparison of selected environmental effects and costs.

    Science.gov (United States)

    Weinberg, Jana; Kaltschmitt, Martin

    2013-12-01

    An environmental assessment and a cost analysis were conducted for mobility options using electricity, hydrogen, ethanol, Fischer-Tropsch diesel and methane derived from wood. Therefore, the overall life cycle with regard to greenhouse gas emissions, acidifying emissions and fossil energy demand as well as costs is analysed. The investigation is carried out for mobility options in 2010 and gives an outlook to the year 2030. Results show that methane utilization in the car is beneficial with regard to environmental impacts (e.g. 58.5 g CO2-eq./km) and costs (23.1 €-ct./km) in 2010, especially in comparison to hydrogen usage (132.4 g CO2-eq./km and 63.9 €-ct./km). The electric vehicle construction has high environmental impacts and costs compared to conventional vehicles today, but with technical improvements and further market penetration, battery electric vehicles can reach the level of concepts with combustion engines in future applications (e.g. cost decrease from 38.7 to 23.4 €-ct./km).

  11. Comparison of Cement-Based and Polymer-Based Concrete Pipes for Analysis of Cost Assessment

    Directory of Open Access Journals (Sweden)

    Orhan Bozkurt

    2013-01-01

    Full Text Available As the variety of materials utilized in construction industry has expanded, new techniques have been used in order to optimize the quality and efficiency of output. Therefore, recent innovations taking place in the construction industry led researchers to increase the mechanical efficiency of the output more than the cost effectiveness of it. However, especially professionals experiencing in the industry look into the cost effectiveness of the work. In other words, they also want researchers to justify the innovative techniques economically. The aim of this study is to provide a comparative analysis of the cost efficiency of polymer concrete used to manufacture durable and long-lasting reinforced concrete structures.

  12. The value of the seagrass Posidonia oceanica: a natural capital assessment.

    Science.gov (United States)

    Vassallo, Paolo; Paoli, Chiara; Rovere, Alessio; Montefalcone, Monica; Morri, Carla; Bianchi, Carlo Nike

    2013-10-15

    Making nature's value visible to humans is a key issue for the XXI century and it is crucial to identify and measure natural capital to incorporate benefits or costs of changes in ecosystem services into policy. Emergy analysis, a method able to analyze the overall functioning of a system, was applied to reckon the value of main ecosystem services provided by Posidonia oceanica, a fragile and precious Mediterranean seagrass ecosystem. Estimates, based on calculation of resources employed by nature, resulted in a value of 172 € m(-2)a(-1). Sediment retained by meadow is most relevant input, composing almost the whole P. oceanica value. Remarks about economic losses arising from meadow regression have been made through a time-comparison of meadow maps. Suggested procedure represents an operative tool to provide a synthetic monetary measure of ecosystem services to be employed when comparing natural capital to human and financial capitals in a substitutability perspective.

  13. Comparison of External Cost of Nuclear Power Chain and Coal Power Chain in China

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    <正>The use of energy causes damage to a wide range of receptors, including human health, crops, forests, materials and natural ecosystems. Such damages are referred to as external costs or externalities, which

  14. Cost comparison of three kinds of compression therapy in venous ulcer*

    Science.gov (United States)

    Pereira, Bruno Emmanuel de Medeiros; de Sousa, Alana Tamar Oliveira; França, Jael Rúbia Figueiredo de Sá; Soares, Maria Júlia Guimarães Oliveira

    2016-01-01

    Evolution and cost of three types of compression therapy (single layer, multilayer and Unna boot) in patients with venous ulceration were compared. The evaluation lasted two months and used photographic records and instrument based on pressure ulcer scale for healing (PUSH). Treatment with monolayer compression therapy presented the lowest cost and more efficacy of the three types, with 82% savings compared with the multilayer therapy. PMID:27579760

  15. MRI-guided and CT-guided cervical nerve root infiltration therapy. A cost comparison

    Energy Technology Data Exchange (ETDEWEB)

    Maurer, M.H.; Froeling, V.; Roettgen, R.; Bucourt, M. de; Hamm, B.; Streitparth, F. [Charite University Medicine Berlin (Germany). Dept. of Diagnostic and Interventional Radiology; Bretschneider, T. [Magdeburg Univ. (Germany). Dept. of Radiology and Nuclear Medicine; Hartwig, T.; Disch, A.C. [Charite University Medicine Berlin (Germany). Center for Musculoskeletal Surgery

    2014-06-15

    Purpose: To evaluate and compare the costs of MRI-guided and CT-guided cervical nerve root infiltration for the minimally invasive treatment of radicular neck pain. Materials and Methods: Between September 2009 and April 2012, 22 patients (9 men, 13 women; mean age: 48.2 years) underwent MRI-guided (1.0 Tesla, Panorama HFO, Philips) single-site periradicular cervical nerve root infiltration with 40 mg triamcinolone acetonide. A further 64 patients (34 men, 30 women; mean age: 50.3 years) were treated under CT fluoroscopic guidance (Somatom Definition 64, Siemens). The mean overall costs were calculated as the sum of the prorated costs of equipment use (purchase, depreciation, maintenance, and energy costs), personnel costs and expenditure for disposables that were identified for MRI- and CT-guided procedures. Additionally, the cost of ultrasound guidance was calculated. Results: The mean intervention time was 24.9 min. (range: 12-36 min.) for MRI-guided infiltration and 19.7 min. (range: 5-54 min.) for CT-guided infiltration. The average total costs per patient were EUR 240 for MRI-guided interventions and EUR 124 for CT-guided interventions. These were (MRI/CT guidance) EUR 150/60 for equipment use, EUR 46/40 for personnel, and EUR 44/25 for disposables. The mean overall cost of ultrasound guidance was EUR 76. Conclusion: Cervical nerve root infiltration using MRI guidance is still about twice as expensive as infiltration using CT guidance. However, since it does not involve radiation exposure for patients and personnel, MRI-guided nerve root infiltration may become a promising alternative to the CT-guided procedure, especially since a further price decrease is expected for MRI devices and MR-compatible disposables. In contrast, ultrasound remains the less expensive method for nerve root infiltration guidance. (orig.)

  16. Financing Human Capital: Families & Society

    Directory of Open Access Journals (Sweden)

    Neantro Saavedra-Rivano

    2016-10-01

    Full Text Available The Organization for Economic Cooperation and Development (OECD describes human capital as “knowledge, skills, competencies and attributes embodied in individuals that facilitate the creation of personal, social and economic wellbeing.”* It follows from this interpretation that investment in human capital includes the sum of all costs that allow a new being to reach economic autonomy. In this paper we analyze the family and social dimensions of human capital and discuss how decisions on human capital formation are taken and how its associated costs are shared. The discussion leads us to identify an important paradox underlying human capital formation, namely the fact that while families are its main contributors the benefits of such investment go primarily to society as a whole. This paradox and its consequences are central to two very important current issues. The first issue, one that is common to many developed countries, is low female fertility which is the source, in particular, of population aging. The second issue, affecting chiefly developing countries, is the inequality of opportunities, a problem lying at the root of underdevelopment. Two options are discussed to respond to this dilemma, one based on redistributive programs and another on market solutions. The paper discusses the limits inherent to redistributive programs and goes on to present at length the alternative market solution. In a nutshell this consists of securitizing the human capital of individuals so as to finance the expenses leading to their upbringing, from birth to adulthood. In addition to describing this scheme the paper analyzes its advantages as well as the difficulties associated with its implementation. It concludes by exploring possible interpretations of the scheme and feasible routes for its adoption.

  17. Single-Incision Laparoscopic Cholecystectomy - can we Afford that? Cost Comparison of Different Surgical Techniques

    Directory of Open Access Journals (Sweden)

    Matyja Maciej

    2014-04-01

    Full Text Available One of the most commonly performed surgeries in general surgery wards with laparoscopic technique as a method of choice is gall-bladder excision. In addition to -the commonly used conventional laparoscopic cholecystectomy single incision laparoscopic cholecystectomy is getting more and more attention. Despite many works and studies comparing these methods, there is still a shortage of results assessing efficiency of this new surgical technique. The aim of the study was to evaluate cost-effectiveness of this method in Polish financial reality. We have analyzed costs of three different surgical techniques: conventional (multi- incision laparoscopic cholecystectomy, SILC and ‘no -port’ SILC. Material and methods. We conducted a retrospective study that compared three groups of patients who underwent treatment with conventional laparoscopic cholecystectomy (n=20, SILC (n=20 and no-port SILC (n=20. These groups were matched by age, sex and BMI. Following parameters were analyzed: complication rate, operative time, operative costs, length of hospital stay, hospitalization costs. The SILC cases were performed with one of the three-trocar SILC ports available on the market. The ‘no- port’ SILC cases were performed by single skin incision in the umbilicus, insertion of one 10 mm trocar for the operating instrument, another instrument and scope were inserted directly thorough small incisions in the aponeurosis without a dedicated port Results. The average operative cost was significantly higher in the SILC group comparing to the conventional laparoscopy group and the no-port SILC group. There was no significant difference in complication rate, operative time, length of hospital stay, or hospitalization costs between the three groups Conclusions. Currently the cost of the dedicated SILC port does not allow a regular use of this procedure in Polish financial reality. According to our experience improved cosmesis is the only advantage of the single

  18. Comparison of human growth hormone products' cost in pediatric and adult patients. A budgetary impact model.

    Science.gov (United States)

    Bazalo, Gary R; Joshi, Ashish V; Germak, John

    2007-09-01

    We assessed the economic impact to the United States payer of recombinant human growth hormone (rhGH) utilization, comparing the relative dosage efficiency of marketed pen-based and vial-based products in a pediatric and in an adult population. A budgetary impact model calculated drug costs based on product waste and cost. Waste was the difference between prescribed dose, based on patient weight, and actual delivered dose, based on dosing increments and maximum deliverable dose for pens and a fixed-percent waste as derived from the literature for vials. Annual wholesale acquisition costs were calculated based upon total milligrams delivered, using a daily dose of 0.03 mg/kg for pediatric patients and 0.016 mg/kg for adults. Total annual drug costs were compared for two scenarios: 1) a product mix based on national market share and 2) restricting use to the product with lowest waste. Based on the literature, waste for each vial product was 23 percent. Among individual pens, waste was highest for Humatrope 24 mg (19.5 percent pediatric, 14.3 percent adult) and lowest for Norditropin Nordi-Flex 5 mg (1.1 percent pediatric, 1 percent adult). Restricting use to the brand with least waste (Norditropin), compared to national product share mix, resulted in a 10.2 percent reduction in annual pediatric patient cost from $19,026 to $17,089 and an 8 percent reduction in annual adult patient cost from $24,099 to $22,161. We concluded that pen delivery systems result in less waste than vial and syringe. Considering all approved delivery systems, Norditropin resulted in the least product waste and lower annual patient cost for both pediatric and adult populations.

  19. Comparison between hobbed and precision forged helical gears for automobile manual transaxle - on the prospect of form, precision, material specification and production cost

    Energy Technology Data Exchange (ETDEWEB)

    Ooka, M.; Kawasaki, Y.; Hoguchi, T.; Tsujimoto, H.; Yamazaki, S.; Yoshinaga, M. [O-oka Co., Toyota (Japan); Moriwaki, I. [Kyoto Inst. of Tech. (Japan); Kagaya, C. [Chubu Univ., Kasugai (Japan)

    2005-07-01

    This paper describes the comparison between hobbed and forged helical gears in terms of precision, deformation of heat-treatment, material specification and production cost. With the results the forged ones are superior to hobbed ones. (orig.)

  20. The case for implementing activity based costing.

    Science.gov (United States)

    Monge, Paul H; Bolinger-Perez, Nicole; Boysen, Kent

    2012-01-01

    ABC identifies profitable volumes to give managers information to better manage volumes. Managers must balance the demand for service while maintaining a reasonable profit margin. Disparate systems work extremely well for their intended purposes, but they do not communicate with one another. The strength of the data they hold individually may be leveraged when implementing ABC methodology. Mayo Clinic in Rochester, Minnesota implemented a pilot of ABC to evaluate CT services where there is a high volume, multiple service location for cost comparison, variety of patient acuity and service mix, and large capital investments.The goal was to reveal the actual cost of CT services at the procedural level.

  1. Orthotopic heart transplant versus left ventricular assist device: A national comparison of cost and survival

    Science.gov (United States)

    Mulloy, Daniel P.; Bhamidipati, Castigliano M.; Stone, Matthew L.; Ailawadi, Gorav; Kron, Irving L.; Kern, John A.

    2012-01-01

    Objectives Orthotopic heart transplantation is the standard of care for end-stage heart disease. Left ventricular assist device implantation offers an alternative treatment approach. Left ventricular assist device practice has changed dramatically since the 2008 Food and Drug Administration approval of the HeartMate II (Thoratec, Pleasanton, Calif), but at what societal cost? The present study examined the cost and efficacy of both treatments over time. Methods All patients who underwent either orthotopic heart transplantation (n = 9369) or placement of an implantable left ventricular assist device (n = 6414) from 2005 to 2009 in the Nationwide Inpatient Sample were selected. The trends in treatment use, mortality, and cost were analyzed. Results The incidence of orthotopic heart transplantation increased marginally within a 5-year period. In contrast, the annual left ventricular assist device implantation rates nearly tripled. In-hospital mortality from left ventricular assist device implantation decreased precipitously, from 42% to 17%. In-hospital mortality for orthotopic heart transplantation remained relatively stable (range, 3.8%–6.5%). The mean cost per patient increased for both orthotopic heart transplantation and left ventricular assist device placement (40% and 17%, respectively). With the observed increase in both device usage and cost per patient, the cumulative Left ventricular assist device cost increased 232% within 5 years (from $143 million to $479 million). By 2009, Medicare and Medicaid were the primary payers for nearly one half of all patients (orthotopic heart transplantation, 45%; left ventricular assist device, 51%). Conclusions Since Food and Drug Administration approval of the HeartMate II, mortality after left ventricular assist device implantation has decreased rapidly, yet has remained greater than that after orthotopic heart transplantation. The left ventricular assist device costs have continued to increase and have been

  2. Venture capitalism at the Veterans Administration.

    Science.gov (United States)

    Andries, G H

    1986-01-01

    This article outlines the implementation of a venture capitalism program in a 519-bed Veterans Administration tertiary care medical center. Venture capitalism at the VA West Side Medical Center in Chicago, Illinois is realized through a pool of capital within the budget, for the trial implementation of various ideas and programs that demonstrate a potential to reduce costs or increase revenues. Through this adaptation of venture capitalism, the principles of entrepreneurship can be applied. Employees submit a proposal to management that describes what they wish to accomplish. The proposal includes the time schedule required for implementation and how much capital will be needed to make the proposal operational. If the proposal is successful and becomes self-sufficient, the original venture capital is returned to the pool and used for other ventures. If the proposal does not meet expectations, support is withdrawn and the remaining capital is returned to the venture capital pool. In conclusion, several successful ventures are described to demonstrate the practicality of using the concepts of entrepreneurship and venture capitalism within the budget constraints of the federal government.

  3. Valuation, Capital Structure Decisions and the Cost of Capital

    NARCIS (Netherlands)

    M.B.J. Schauten (Marc)

    2008-01-01

    textabstractThis thesis consists of six essays in Corporate Finance. In Chapter 1 we examine the relation between the quality of corporate governance and the value of excess cash for large European firms. We use ratings for Shareholder rights, Takeover defenses, Disclosure and Board structure as pro

  4. Cost-effectiveness analysis of nebivolol and metoprolol in essential hypertension: A pharmacoeconomic comparison of antihypertensive efficacy of beta blockers

    Directory of Open Access Journals (Sweden)

    Rachna S Patel

    2014-01-01

    Full Text Available Objective: To estimate and compare the cost-effectiveness and safety of nebivolol with sustained-release metoprolol in reducing blood pressure by 1 mm of Hg per day in hypertensive patients. Materials and Methods: This was a prospective, randomized, open label, observational analysis of cost-effectiveness, in a questionnaire-based fashion to compare the cost of nebivolol (2.5 mg, 5 mg, 10 mg and sustained released metoprolol succinate (25 mg, 50 mg, 100 mg in hypertensive patients using either of the two drugs. A total of 60 newly detected drug naïve hypertensive patients were considered for the comparison, of which 30 patients were prescribed nebivolol and the other 30 were prescribed metoprolol succinate as per the recommended dosage. Based on the data, statistical analysis was carried out using GraphPad Prism 5 and MS Excel Spreadsheet 2007. Result: The cost of reducing 1 mm of Hg blood pressure per day with nebivolol was 0.60, 0.70, and 1.06 INR, whereas that of metoprolol succinate was 0.93, 1.18, and 1.25 INR at their respective equivalent doses, hence significantly lower with the nebivolol group as compared to the metoprolol group (P < 0.05. Conclusion: This pharmacoeconomic analysis shows that nebivolol is more cost-effective as compared to metoprolol when the cost per reduction in blood pressure per day is considered. This may affect the patients economically during their long-term use of these molecules for the treatment of hypertension.

  5. Comparison of total costs of administering calcium polycarbophil and psyllium mucilloid in an institutional setting.

    Science.gov (United States)

    Mamtani, R; Cimino, J A; Cooperman, J M; Kugel, R

    1990-01-01

    The total cost of administering calcium polycarbophil per unit dose (two tablets) was compared with that of administering psyllium mucilloid (one packet dissolved in 8 oz of water) in 20 elderly nursing-home residents. Times for printing labels, checking and initialing labels, gathering materials needed, and preparing and administering the medications were recorded during at least 50 observations in each treatment group. Total cost included nurses' and pharmacists' time, materials, and medications. Calcium polycarbophil doses were prepared and administered more quickly (mean, 49.5 sec) than psyllium mucilloid (105.3 sec). The mean cost of preparing and administering a unit dose was 28.2 for calcium polycarbophil tablets and 59.9 for psyllium mucilloid. The results suggest that the use of calcium polycarbophil tablets would save time and money in institutions in which laxatives are frequently administered.

  6. Direct costs of asthma in Brazil: a comparison between controlled and uncontrolled asthmatic patients

    Directory of Open Access Journals (Sweden)

    L.A. Santos

    2007-07-01

    Full Text Available Asthma is a common chronic illness that imposes a heavy burden on all aspects of the patient's life, including personal and health care cost expenditures. To analyze the direct cost associated to uncontrolled asthma patients, a cross-sectional study was conducted to determine costs related to patients with uncontrolled and controlled asthma. Uncontrolled patient was defined by daytime symptoms more than twice a week or nocturnal symptoms during two consecutive nights or any limitations of activities, or need for relief rescue medication more than twice a week, and an ACQ score less than 2 points. A questionnaire about direct cost stratification in health services, including emergency room visits, hospitalization, ambulatory visits, and asthma medications prescribed, was applied. Ninety asthma patients were enrolled (45 uncontrolled/45 controlled. Uncontrolled asthmatics accounted for higher health care expenditures than controlled patients, US$125.45 and US$15.58, respectively [emergency room visits (US$39.15 vs US$2.70 and hospitalization (US$86.30 vs US$12.88], per patient over 6 months. The costs with medications in the last month for patients with mild, moderate and severe asthma were US$1.60, 9.60, and 25.00 in the uncontrolled patients, respectively, and US$6.50, 19.00 and 49.00 in the controlled patients. In view of the small proportion of uncontrolled subjects receiving regular maintenance medication (22.2% and their lack of resources, providing free medication for uncontrolled patients might be a cost-effective strategy for the public health system.

  7. Comparison of Outcomes and Costs of Ranibizumab and Aflibercept Treatment in Real-Life.

    Directory of Open Access Journals (Sweden)

    Martin K Schmid

    Full Text Available Treatment efficacy and costs of anti-VEGF drugs have not been studied in clinical routine.To compare treatment costs and clinical outcomes of the medications when adjusting for patients' characteristics and clinical status.Comparative study.The largest public ophthalmologic clinic in Switzerland.Health care claims data of patients with age-related macular degeneration, diabetic macula edema and retinal vein occlusion were matched to clinical and outcome data.Patients' underlying condition, gender, age, visual acuity and retinal thickness at baseline and after completing the loading phase, the total number of injections per treatment, the visual outcome and vital status was secured.We included 315 patients (19595 claims with a follow-up time of 1 to 99 months (mean 32.7, SD 25.8 covering the years 2006-2014. Mean age was 78 years (SD 9.3 and 200 (63.5% were female. At baseline, the mean number of letters was 55.6 (SD 16.3 and the central retinal thickness was 400.1 μm (SD 110.1. Patients received a mean number of 15.1 injections (SD 13.7; range 1 to 85. Compared to AMD, adjusted cost per month were significantly higher (+2174.88 CHF, 95%CI: 1094.50-3255.27; p<0.001 for patients with DME, while cost per month for RVO were slightly but not significantly higher. (+284.71 CHF, 95% CI: -866.73-1436.15; p = 0.627.Patients with DME are almost twice as expensive as AMD and RVO patients. Cost excess occurs with non-ophthalmologic interventions. The currently licensed anti-VEGF medications did not differ in costs, injection frequency and clinical outcomes. Linking health care claims to clinical data is a useful tool to examine routine clinical care.

  8. Residential heating costs: a comparison of geothermal, solar and conventional resources

    Energy Technology Data Exchange (ETDEWEB)

    Bloomster, C.H.; Garrett-Price, B.A.; Fassbender, L.L.

    1980-08-01

    The costs of residential heating throughout the United States using conventional, solar, and geothermal energy were determined under current and projected conditions. These costs are very sensitive to location - being dependent on the local prices of conventional energy supplies, local solar insolation, cimate, and the proximity and temperature of potential geothermal resources. The sharp price increases in imported fuels during 1979 and the planned decontrol of domestic oil and natural gas prices have set the stage for geothermal and solar market penetration in the 1980's.

  9. Capital and operating costs of irradiated natural uranium reprocessing plants; Couts d'investissement et d'exploitation des usines de retraitement de l'uranium naturel irradie

    Energy Technology Data Exchange (ETDEWEB)

    Thiriet, L.; Jouannaud, C.; Couture, J.; Duboz, J. [Commissariat a l' Energie Atomique (France). Centre d' Etudes Nucleaires; Oger, C. [Saint Gobain Nucleaire (France)

    1966-07-01

    This paper presents first a method of analysing natural uranium reprocessing plants investment costs (method similar to LANG and BACH well known in the fuel oil industry) and their operating costs (analysed according to their economic type). This method helps establishing standard cost structures for these plants, allowing thus comparisons between existing or planned industrial facilities. It also helps evaluating the foreseeable consequences of technical progress. Some results obtained are given, concerning: the investment costs sensitivity to the various technical parameters defining the fuel and their comparison according to the country or the economic area taken into account. Finally, the influence of the plants size on their investment costs is shown. (author) [French] La communication expose d'abord une methode d'analyse des couts d'investissement des usines de retraitement de l'uranium naturel irradie (inspiree de celles de LANG et de BACH, bien connues dans l'industrie petroliere) et de leurs couts d'exploitation (selon leur nature economique). Cette methode permet d'etablir des structures types de couts de ces usines et de comparer les realisations industrielles et les projets. Elle facilite l'exploration des consequences previsibles du progres technique. On indique un certain nombre de resultats obtenus, concernant la sensibilite des couts d'investissement de ces usines aux differents parametres techniques definissant le combustible et leur confrontation selon les pays ou aires economiques envisages. On montre enfin comment doit pouvoir s'exprimer l'influence de la taille des usines sur leur cout d'investissement. (auteur)

  10. Danish Management Accounting Frameworks - a SWOT Analysis and an Activity Based Costing Comparison

    DEFF Research Database (Denmark)

    Israelsen, Poul; Rohde, Carsten

    2005-01-01

    and in addition a SWOT-like assessment of this tradition vis-à-vis the management accounting research community and practice. An alternative approach in designing management accounting systems is represented by Activity Based Costing (ABC). An unbundling of the nowadays multifaceted ABC brings forward...

  11. Cost and Search Result Comparisons of BRS After Dark and Knowledge Index.

    Science.gov (United States)

    Cloud, Gayla Staples; Hambric, Jacqueline

    This two-part study was designed (1) to determine differences in the costs of searching BRS After Dark (BRS AD) and Knowledge Index (KI) generally and across ten selected databases, and (2) to determine whether there is a difference in the citations retrieved when the same search is conducted on the same database in both systems. Study methodology…

  12. Online Cost and Search Results: A Comparison of BRS After Dark and Knowledge Index.

    Science.gov (United States)

    Cloud, Gayla Staples; Hambic, Jacqueline B.

    1987-01-01

    Reports the results of a study which examined costs and search results for 20 searchers conducted on both BRS After Dark and Knowledge Index. Various features of the two retrieval systems are reviewed, and advantages and disadvantages of each system are summarized. Data are presented in one table and several graphs. (24 references) (MES)

  13. Comparison of sampling methodologies for nutrient monitoring in streams: uncertainties, costs and implications for mitigation

    Directory of Open Access Journals (Sweden)

    J. Audet

    2014-07-01

    Full Text Available Eutrophication of aquatic ecosystems caused by excess concentrations of nitrogen and phosphorus may have harmful consequences for biodiversity and poses a health risk to humans via the water supplies. Reduction of nitrogen and phosphorus losses to aquatic ecosystems involves implementation of costly measures, and reliable monitoring methods are therefore essential to select appropriate mitigation strategies and to evaluate their effects. Here, we compare the performances and costs of three methodologies for the monitoring of nutrients in rivers: grab sampling, time-proportional sampling and passive sampling using flow proportional samplers. Assuming time-proportional sampling to be the best estimate of the "true" nutrient load, our results showed that the risk of obtaining wrong total nutrient load estimates by passive samplers is high despite similar costs as the time-proportional sampling. Our conclusion is that for passive samplers to provide a reliable monitoring alternative, further development is needed. Grab sampling was the cheapest of the three methods and was more precise and accurate than passive sampling. We conclude that although monitoring employing time-proportional sampling is costly, its reliability precludes unnecessarily high implementation expenses.

  14. Quality and cost of healthcare : A cross-national comparison of American and Dutch attitudes

    NARCIS (Netherlands)

    Lindenthal, J.J.; Lako, C.J.; van der Waal, M.A.E.; Tijmstra, T.; Andela, M.; Schneider, M.

    1999-01-01

    Objective: To compare attitudes of consumers in America and Holland toward the quality and cost of healthcare. Study Design: Data were derived from one American (n = 466) and two Dutch (n = 260, n = 1629) surveys. Patients and Methods: Questionnaires were completed by respondents. Pairwise compariso

  15. Does a computerized price comparison module reduce prescribing costs in general practice?

    DEFF Research Database (Denmark)

    Vedsted, Peter; Nielsen, Jørgen Nørskov; Olesen, Frede

    1997-01-01

    OBJECTIVE: We aimed to assess the trends in prescribed defined daily doses (DDD) and drug expenses before and after the introduction of a computerized cost containment module into the computer record system of a defined group of GPs. The GPs' expectations for and experiences with the module were...

  16. Psychotherapeutic Orientations: A Comparison of Conceptualizations, Interventions, and Treatment Plan Costs.

    Science.gov (United States)

    Kopta, Stephen Mark; And Others

    1986-01-01

    Delineated patterns of conceptualization and intervention of four psychotherapeutic orientations (psychodynamic, cognitive-behavioral, family systems, eclectic) and then determined how these patterns related to treatment plan costs. Conceptualization and intervention categories given more focus by the psychodynamic group correlated positively with…

  17. Comparison of stray light in spectrometer systems using a low cost monochromatic light source

    DEFF Research Database (Denmark)

    Thorseth, Anders; Lindén, Johannes; Dam-Hansen, Carsten

    2014-01-01

    We present an experimental setup that is under development for automated stray light characterization of spectrometers. The setup uses a tuneable monochromator which enables this characterization on relatively cost low equipment. We present the measured line spread functions for two spectrometers...

  18. Comparison of costs for three hypothetical alternative kitchen waste management systems.

    Science.gov (United States)

    Schiettecatte, Wim; Tize, Ronald; De Wever, Heleen

    2014-11-01

    Urban water and waste management continues to be a major challenge, with the Earth's population projected to rise to 9 billion by 2050, with 70% of this population expected to live in cities. A combined treatment of wastewater and the organic fraction of municipal solid waste offers opportunities for improved environmental protection and energy recovery, but the collection and transport of organic wastes must be cost effective. This study compares three alternative kitchen waste collection and transportation systems for a virtual modern urban area with 300,000 residents and a population density of 10,000 persons per square kilometre. Door-to-door collection, being the standard practice in modern urban centres, remains the most economically advantageous at a cost of 263 euros per tonne of kitchen waste. Important drawbacks are the difficult logistics, increased city traffic, air and noise pollution. The quieter, cleaner and more hygienic vacuum transport of kitchen waste comes with a higher cost of 367 euros per tonne, mainly resulting from a higher initial investment cost for the system installation. The third option includes the well-known use of under-sink food waste disposers (often called garbage grinders) that are connected to the kitchen's wastewater piping system, with a total yearly cost of 392 euros per tonne. Important advantages with this system are the clean operation and the current availability of a city-wide sewage conveyance pipeline system. Further research is recommended, for instance the application of a life cycle assessment approach, to more fully compare the advantages and disadvantages of each option.

  19. The Optimal Capital Structure of Banks: Balancing Deposit Insurance, Capital Requirements and Tax-Advantaged Debt

    OpenAIRE

    John P. Harding; Xiaozhing Liang; Stephen L. Ross

    2007-01-01

    The capital structure and regulation of financial intermediaries is an important topic for practitioners, regulators and academic researchers. In general, theory predicts that firms choose their capital structures by balancing the benefits of debt (e.g., tax and agency benefits) against its costs (e.g., bankruptcy costs). However, when traditional corporate finance models have been applied to insured financial institutions, the results have generally predicted corner solutions (all equity or ...

  20. Approaches of Russian oil companies to optimal capital structure

    Science.gov (United States)

    Ishuk, T.; Ulyanova, O.; Savchitz, V.

    2015-11-01

    Oil companies play a vital role in Russian economy. Demand for hydrocarbon products will be increasing for the nearest decades simultaneously with the population growth and social needs. Change of raw-material orientation of Russian economy and the transition to the innovative way of the development do not exclude the development of oil industry in future. Moreover, society believes that this sector must bring the Russian economy on to the road of innovative development due to neo-industrialization. To achieve this, the government power as well as capital management of companies are required. To make their optimal capital structure, it is necessary to minimize the capital cost, decrease definite risks under existing limits, and maximize profitability. The capital structure analysis of Russian and foreign oil companies shows different approaches, reasons, as well as conditions and, consequently, equity capital and debt capital relationship and their cost, which demands the effective capital management strategy.

  1. Federal Personnel: Federal/Private Sector Pay Comparisons

    Science.gov (United States)

    1994-12-01

    Federal Employees Covered by Social Security, December 1984. ^This finding is based on a comparison of employer cost associated with the various...and gender. Specifically, ’For a further discussion, see Robert Willis, "Wage Determinante : A Survey and ReinterpreteÜori of Human Capital Earnings

  2. In sickness and in wealth: psychological and sexual costs of income comparison in marriage.

    Science.gov (United States)

    Pierce, Lamar; Dahl, Michael S; Nielsen, Jimmi

    2013-03-01

    As the percentage of wives outearning their husbands grows, the traditional social norm of the male breadwinner is challenged. The upward income comparison of the husband may cause psychological distress that affects partners' mental and physical health in ways that affect decisions on marriage, divorce, and careers. This article studies this impact through sexual and mental health problems. Using wage and prescription medication data from Denmark, we implement a regression discontinuity design to show that men outearned by their wives are more likely to use erectile dysfunction medication than their male breadwinner counterparts, even when this inequality is small. Breadwinner wives suffer increased insomnia/anxiety medication usage, with similar effects for men. We find no effects for unmarried couples or for men who earned less than their fiancée prior to marriage. Our results suggest that social norms play important roles in dictating how individuals respond to upward social comparisons.

  3. A Comparison of Cost and Reward Procedures With Interdependent Group Contingencies.

    Science.gov (United States)

    Lee, Kathryn; Penrod, Becky; Price, Jenifer N

    2016-06-07

    The present study evaluated the effectiveness of two variations of a token economy for reducing disruptive behavior within a general education classroom. One variation involved a group contingency in which tokens were removed contingent on disruptive behavior (response cost), and the other variation involved a group contingency in which tokens were gained according to a differential reinforcement of other behavior schedule. Two elementary school teachers and their students participated. Results indicated that both procedures were effective in reducing the overall number of students disrupting; however, both teachers and students indicated a greater preference for the response cost condition. Implications for the use of these behavior management strategies in the classroom are discussed in terms of effectiveness and ease of implementation.

  4. Sensitivity of Nursing Home Cost Comparisons to Method of Dementia Diagnosis Ascertainment

    Directory of Open Access Journals (Sweden)

    Ann L. Gruber-Baldini

    2009-01-01

    Subjects were 2050 new admissions to 59 Maryland NHs, from 1992 to 1995 followed longitudinally for 2 years. Dementia was ascertained at admission from charts, Medicare claims, and expert panel. Overall 59.5% of the sample had some indicator of dementia. The expert panel found a higher prevalence of dementia (48.0% than chart review (36.9% or Medicare claims (38.6%. Dementia cases had lower relative average per patient monthly costs, but longer NH length of stay compared to nondementia cases across all methods. The prevalence of dementia varied widely by method of ascertainment, and there was only moderate agreement across methods. However, lower costs for dementia among NH admissions are a robust finding across these methods.

  5. Cost comparison of the satellite power system and six alternative technologies

    Energy Technology Data Exchange (ETDEWEB)

    Wolsko, T.; Samsa, M.

    1981-04-01

    A framework is described for comparing the Satellite Power System (SPS) with various projected alternative energy sources on the basis of technical possibility, economic viability, and social and environmental acceptability. Each of the following energy sources is briefly described: conventional coal, light water reactor, coal gasification/combined cycle, liquid-metal fast-breeder reactor, central station terrestrial photovoltaic, fusion, and the SPS. The analysis consists of comparison of characterizations, side-by-side analysis, and alternative futures analysis. (LEW)

  6. Engineering and cost comparison of three different all-dry cooling systems

    Energy Technology Data Exchange (ETDEWEB)

    Fryer, B.C.; Braun, D.J.; Braun, D.J.; Faletti, D.W.; Wiles, L.E.

    1976-09-01

    Results of a detailed engineering and cost study of three different all-dry cooling systems to assess the potential for reducing the cost of all-dry cooling for steam electric power plants are described. The three types of cooling systems considered were: state-of-the-art (SOA) dry cooling system; with a conventional surface condenser, and water used to condense the steam is passed through an induced mechanical draft, metal finned tube cooling tower; an advanced dry cooling system (PLASTIC) utilizing heat exchangers made of bare plastic tubes in the cooling tower; and an advanced dry cooling system utilizing ammonia as the coolant (NH/sub 3/). The NH/sub 3/ system differs from the SOA system in that ammonia is substituted for water as the intermediate fluid. Steam from the turbine is condensed by boiling ammonia in a condenser/reboiler; the ammonia vapor is condensed in an induced draft, metal finned tube heat exchanger and returned to the condenser/reboiler. The major conclusions drawn from this study are that: SOA systems offered by vendors are so near optimum in terms of heat exchanger unit geometry and configuration that there is little, if any, cost advantage to be gained by further study of SOA systems using wrap-on or extruded finned tubes other than in the selection of tube materials, materials compatibility, water quality control, or fin manufacturing methods; significant savings (34 percent) in incremental power production costs appear to be obtainable using NH/sub 3/ systems; and considerable savings (22 percent) can also be obtained with PLASTIC systems.

  7. Cost-conscious comparison of supervised learning algorithms over multiple data sets

    OpenAIRE

    Ulaş, Aydın; Yıldız, Olcay Taner; Alpaydın, Ahmet İbrahim Ethem

    2012-01-01

    In the literature, there exist statistical tests to compare supervised learning algorithms on multiple data sets in terms of accuracy but they do not always generate an ordering. We propose Multi(2)Test, a generalization of our previous work, for ordering multiple learning algorithms on multiple data sets from "best" to "worst" where our goodness measure is composed of a prior cost term additional to generalization error. Our simulations show that Multi2Test generates orderings using pairwise...

  8. A comparison of side effects and cost for spinal andgeneral anesthesia in geriatric patients

    OpenAIRE

    E. Nasiri; R.Nemat; F. Sohail Arshadi; R.A.Mohammadpour

    2006-01-01

    AbstractBackground and purpose: There is still debate regarding advantages and disadvantages of regional versus general anesthesia techniques. Some studies suggested that regional anesthesia technique probably reduces postoperative morbidity and mortality.In this retrospective historical cohort study, we compared the cost-effectiveness for spinal and general anesthesia in elderly patients.Materials and methods : A total of 120 medical records of elderly participants whom underwent general or ...

  9. A comparison of estimates of cost-effectiveness of alternative fuels and vehicles for reducing emissions

    Energy Technology Data Exchange (ETDEWEB)

    Hadder, G.R.

    1995-11-01

    The cost-effectiveness ratio (CER) is a measure of the monetary value of resources expended to obtain reductions in emissions of air pollutants. The CER can lead to selection of the most effective sequence of pollution reduction options. Derived with different methodologies and technical assumptions, CER estimates for alternative fuel vehicles (AFVs) have varied widely among pervious studies. In one of several explanations of LCER differences, this report uses a consistent basis for fuel price to re-estimate CERs for AFVs in reduction of emissions of criteria pollutants, toxics, and greenhouse gases. The re-estimated CERs for a given fuel type have considerable differences due to non-fuel costs and emissions reductions, but the CERs do provide an ordinal sense of cost-effectiveness. The category with CER less than $5,000 per ton includes compressed natural gas and ed Petroleum gas vehicles; and E85 flexible-fueled vehicles (with fuel mixture of 85 percent cellulose-derived ethanol in gasoline). The E85 system would be much less attractive if corn-derived ethanol were used. The CER for E85 (corn-derived) is higher with higher values placed on the reduction of gas emissions. CER estimates are relative to conventional vehicles fueled with Phase 1 California reformulated gasoline (RFG). The California Phase 2 RFG program will be implemented before significant market penetration by AFVs. CERs could be substantially greater if they are calculated incremental to the Phase 2 RFG program. Regression analysis suggests that different assumptions across studies can sometimes have predictable effects on the CER estimate of a particular AFV type. The relative differences in cost and emissions reduction assumptions can be large, and the effect of these differences on the CER estimate is often not predictable. Decomposition of CERs suggests that methodological differences can make large contributions to CER differences among studies.

  10. Pre-operative laboratory testing: A prospective study on comparison and cost analysis

    Directory of Open Access Journals (Sweden)

    Venkatesh H Keshavan

    2016-01-01

    Full Text Available Background and Aims : Pre-operative investigations are performed before any surgical intervention under anaesthesia. Many are considered as routine. However, there are no clear guidelines regarding these in India. We aim to look at the relevance of the laboratory investigations ordered routinely and their cost implications compared with the National Institute of Clinical Excellence (NICE guidelines. Methods: This prospective study was carried out at a tertiary care hospital. A total of 163 patients scheduled for elective surgical procedures were included in this study. Neither the surgeons nor anaesthesiologists involved in the case were aware of the study. The laboratory investigations of the patients who underwent surgery were noted. All values were categorised as normal or abnormal and they were assessed as indicated or unindicated based on NICE guidelines. Results: One hundred and sixty-three patients were subjected to a total of 984 tests. Forty three patients (26% were subjected to tests as per NICE guidelines. Of the 984 tests, 515 tests were unindicated (52%. Out of the 515 unindicated tests, 7 (1.3% were abnormal. None of these seven tests required any intervention or change of anaesthetic plan. The most common unindicated tests done were cardiac echocardiography and chest X-ray (92.5% and 93% respectively. The additional cost incurred towards unindicated tests was 63% of the total cost for the tests. Conclusion: Pre-operative laboratory investigations add to cost significantly. Patient premorbid conditions and surgical grade should guide the clinician to request for the relevant laboratory tests.

  11. A comparison of nuclear thermal rocket development cost and schedule for piloted missions to Mars

    Science.gov (United States)

    Clark, John S.; Borowski, Stanley K.; Sefcik, Robert J.; Miller, Thomas J.

    1993-01-01

    In Fiscal Year 1992, NASA led a team, including DOE, universities, and industry, that evaluated various schedule and cost scenarios for development of nuclear thermal rocket propulsion systems for piloted Mars exploration. This paper summarizes the results of two of these studies: (1) a so-called 'Fast Track' approach, that would result in technology readiness level 6 (TRL-6-system ground testing complete) by the year 2000, and (2) a slower program that results in TRL-6 by 2006. Both scenarios included a concurrent engineering approach. Costs and schedules for the two scenarios are compared. In addition to the six-year schedule delay, the TRL-6 in 2006 scenario is estimated to increase the cost of the program from $4.7 billion to $5.8 billion (in real-year dollars). On the positive side, the technical program should be better, since nuclear testing of fuel elements may be possible prior to concept down-select, resulting in a more informed decision.

  12. Comparison of efficacy, tolerability, and cost of newer with conventional oral iron preparation

    Directory of Open Access Journals (Sweden)

    S.S. Patil

    2013-01-01

    Full Text Available Background: Iron deficiency anaemia in women of reproductive age group is a major health problem in India. Objective: The present study was designed to compare the efficacy, tolerability, and cost, of three oral iron preparations among the anaemic pregnant women (n=6o of gestation (12-24 weeks. Methodology: The patients were divided into 3 groups (n=20 and treated with ferrous fumarate(100mg, ferrous bisglycinate (100mg,and carbonyl iron(100mg respectively. Follow-up was done for 3 months. Haemoglobin gm%, mean corpuscular volume and reticulocyte count were assessed at 0,1,2,3 months and serum ferritin at 0 and 3 months. Adverse effects were monitored and cost analysis was done at end of three months. Results: Significant increase in Hb was seen in all three groups (p<0.001 but, no significant difference was found between three treatments in relation to increase in Hb. Increase in ferritin with ferrous fumarate was significantly more than other treatments (p<0.05. Nausea, vomiting, epigastric pain was significantly more with ferrous fumarate but patient compliance was not affected due to them. Ferrous fumarate was the cheapest amongst all three treatments. Conclusion: It can be concluded that, ferrous fumarate still can be considered best cost effective medication with tolerable side effects for treatment as well as prevention of iron deficiency anaemia in pregnancy.

  13. Capital Subsidies and the Underground Economy

    DEFF Research Database (Denmark)

    Busato, Francesco; Chiarini, Bruno; Angelis, Pasquale de;

    no cost in terms of investment. By contrast, the model states that while enforcement is an effective tool to reduce capital allocation in the underground production, it also reduce the total capital stock. Moreover, we also suggestthat the allowance of incentives to capital accumulation may generate...... to offset the specific costs usually stressed by literature on underground production, such as those suggested by Loayza (1994) andAnderberg et al. (2003). Investigating the effects of different fiscal policy interventions,we find that taxation is a critical parameter to define the size of capital...... allocation in the underground production. In fact, a strong and inverse relationship is found, and tax reduction is the best policy to reduce the convenience to produce underground. Wealso confirm the depressing effect on investment of taxation (see, for instance, Summers,1981), so that tax reduction has...

  14. Cost comparison of microscopy vs. empiric treatment for malaria in southwestern nigeria: a prospective study

    Directory of Open Access Journals (Sweden)

    Davidson Mario

    2010-12-01

    Full Text Available Abstract Background Presumptive treatment for malaria is common in resource-limited settings, yet controversial given the imprecision of clinical diagnosis. The researchers compared costs of diagnosis and drugs for two strategies: (1 empirical treatment of malaria via clinical diagnosis; and (2 empirical diagnosis followed by treatment only with Giemsa smear confirmation. Methods Patients with a diagnosis of clinical malaria were recruited from a mission/university teaching hospital in southwestern Nigeria. The patients underwent free Giemsa thick (diagnosis and thin (differentiation smears, but paid for all anti-malarial drugs. Clinical diagnosis was made on clinicians' judgments based on symptoms, including fever, diarrhoea, headache, and body aches. The paediatric regimen was artesunate (6-9 tablets of 3 mg/kg on day one and 1.5 mg/kg for the next four days plus amodiaquine (10 mg/kg day 1-2 and 5 mg/kg on day three in suspension. Adults were given two treatment options: option one (four and one-half 50 mg artesunate tablets on day one and nine tablets for the next four days, plus three 500 mg sulphadoxine/25 mg pyrimethamine tablets and option two (same artesunate regimen plus nine 200 mg tablets of amodiaquine at 10 mg/kg day 1-2 and 5 mg/kg on day three. The researchers calculated the costs of smears/drugs from standard hospital charges. Results Doctors diagnosed 304 patients (170 adults ages >16 years and 134 pediatric with clinical malaria, prescribing antimalarial drugs to all. Giemsa thick smears were positive in 115/304 (38%. The typical patient cost for a Giemsa smear was 550 Naira (US$3.74 in 2009. For children, the cost of testing all, but treating only Giemsa positives was N888 ($6.04/child; the cost of empiric treatment of all who were clinically diagnosed was lower, N660 ($4.49/child. For adults, the cost of testing all, but treating only Giemsa positives was N711 ($4.84/adult for treatment option one (artesunate and

  15. Educational Cost Analysis.

    Science.gov (United States)

    Flynn, Donald L.

    Traditional approaches to the cost analysis of educational programs involve examining annual budgets. Such approaches do not properly consider the cost of either new capital expenditures or the current value of previously purchased items. This paper presents the methodology for a new approach to educational cost analysis that identifies the actual…

  16. Study protocol: Cost-effectiveness of transmural nutritional support in malnourished elderly patients in comparison with usual care

    Directory of Open Access Journals (Sweden)

    van Bokhorst-de van der Schueren Marian AE

    2010-02-01

    Full Text Available Abstract Background Malnutrition is a common consequence of disease in older patients. Both in hospital setting and in community setting oral nutritional support has proven to be effective. However, cost-effectiveness studies are scarce. Therefore, the aim of our study is to investigate the effectiveness and cost-effectiveness of transmural nutritional support in malnourished elderly patients, starting at hospital admission until three months after discharge. Methods This study is a randomized controlled trial. Patients are included at hospital admission and followed until three months after discharge. Patients are eligible to be included when they are ≥ 60 years old and malnourished according to the following objective standards: Body Mass Index (BMI in kg/m2 Conclusion In this randomized controlled trial we will evaluate the effect of transmural nutritional support in malnourished elderly patients after hospital discharge, compared to usual care. Primary endpoints of the study are changes in activities of daily living, body weight, body composition, quality of life, and muscle strength. An economic evaluation will be performed to evaluate the cost-effectiveness of the intervention in comparison with usual care. Trial registration Netherlands Trial Register (ISRCTN29617677, registered 14-Sep-2005

  17. The Changing Pattern in International Trade and Capital Flows of the Gulf Cooperation Council Countries in Comparison with other Oil-Exporting Countries

    Directory of Open Access Journals (Sweden)

    Marga PEETERS

    2011-12-01

    Full Text Available This study provides an overview of the pattern of the gross capital flows of the current and capital accounts of the balance of payments of the group of six Gulf Cooperation Council countries during the last decade that includes the global crisis years. As a comprehensive overview is lacking in the literature, while this country group has gained in importance in the global economy in particular in the years before the global crisis, this study tries to fill this gap. It benchmarks the GCC countries with the other oil-exporting OPEC countries that have a comparable size of natural resources. The GCC countries’ high investments in the world economy financed by their abundant income from oil revenues, showed their remarkably high degree of trade and financial integration in the world economy. Thanks to policies geared towards opening up borders, the GCC countries have imparted a significant stimulus to the world economy, to a much greater extent than other oil exporting countries in similar conditions. Aspects of globalization, trade and financial integration,such as the dependence on oil, “Dutch disease”, regional integration, foreign direct investment and cross-border assets and loans are addressed. The results show that the impact of the crisis has reverted international capital flows of the GCC, in particular cross-border bank loans, deposits and foreign direct investment. Current and future global policymaking needs however moretimely and consistent statistical information.

  18. Analysis of cost data in a cluster-randomized, controlled trial: comparison of methods

    DEFF Research Database (Denmark)

    Sokolowski, Ineta; Ørnbøl, Eva; Rosendal, Marianne;

    in clusters of general practices.   There have been suggestions to apply different methods, e.g., the non-parametric bootstrap, to highly skewed data from pragmatic randomized trials without clusters, but there is very little information about how to analyse skewed data from cluster-randomized trials. Many...... studies have used non-valid analysis of skewed data. We propose two different methods to compare mean cost in two groups. Firstly, we use a non-parametric bootstrap method where the re-sampling takes place on two levels in order to take into account the cluster effect. Secondly, we proceed with a log...

  19. Coverage Range and Cost Comparison of Remote Antenna Unit Designs for Inbuilding Radio over Fiber Technology

    Directory of Open Access Journals (Sweden)

    Razali Ngah

    2013-09-01

    Full Text Available Future communication needs to be ubiquitous, broadband, convergent, and seamless. Radio over fiber (RoF technology is one of the most important enabler in access network for the technologies. Adoption of RoF faces bottleneck in optoelectronics, that they are still expensive, high power consumption, and limited in bandwidth. To solve the problem, transceiver in remote antenna unit (RAU is developed, i.e. electroabsorption transceiver (EAT and asymmetric FabryPerot modulator (AFPM. This paper compares their coverage range and cost in providing WCDMA and WLAN services. Needed gain of RF amplifier for supporting picocell is also discussed.

  20. O outro capital The other capital

    Directory of Open Access Journals (Sweden)

    Vinicius Prates da Fonseca Bueno

    2012-01-01

    Full Text Available Capital social uma forma de mobilizao cujo cerne no est nos indivduos nem nas formas de produo econmica, mas nas redes complexas de solidariedade e confiana. O livro Comunicao e poltica: capital social, reconhecimento e deliberao pblica traz uma coleo de artigos de pesquisadores em comunicao sobre este tema, organizado por ngela Marques e Heloiza Matos.Social capital is a form of mobilization whose core is not on individuals or in forms of economic production, but in the complex networks of solidarity and trust. The book Comunicao e poltica: capital social, reconhecimento e deliberao pblica (that translated to English means Communication and politics: social capital, recognition and public deliberation is a collection of articles written by researchers in communication about this subject, organized by ngela Marques and Heloiza Matos.

  1. Triads of capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase

    represented by Putnam and Portes. The paper raises the following question: Is it possible to detect the historical driving forces behind the building of both beneficial and harmful social capital? Driving forces are defined as structural determinants, which change human organization at all levels......Within current research on social capital, a gap exists between political history analyses at the macro level and classical, sociological analyses at the meso and micro levels. Following up on  earlier work, the main purpose of this paper is to mediate between the two conflicting stances....... The hypothesis is that three forms of capital have the potential to act as driving forces: social capital, cultural capital and physical capital, the latter operationaliz­ed as buildings. A new concept, triad of capital, is introduced to analyze the interrelationship between these three forms of capital. A triad...

  2. Comparison of Veteran experiences of low-cost, home-based diet and exercise interventions

    Directory of Open Access Journals (Sweden)

    Bree Holtz, PhD

    2014-03-01

    Full Text Available Obesity is a significant health problem among Veterans who receive care from the Department of Veterans Affairs, as it is for so many other Americans. Veterans from Operation Enduring Freedom (OEF and Operation Iraqi Freedom (OIF experience a myriad of chronic conditions, which can make it difficult to maintain a physically active lifestyle. This pilot study tested the feasibility and user satisfaction with three low-cost, home-based diet and exercise programs, as well as point-of-decision prompts among these Veterans. The three programs target mechanisms that have been shown to improve healthy behavior change, including (1 online mediated social support, (2 objective monitoring of physical activity, and (3 structured high-intensity workouts. This was a randomized crossover trial; each participant used two of the three programs, and all used the point-of-decision prompts. Our qualitative results identified five overall themes related to social support, objective monitoring, structured activity, awareness and understanding, and the point-of-decision prompts. In general, participants were satisfied with and lost weight with each of the interventions. This study demonstrated that these low-cost interventions could be successful with the OIF/OEF Veteran population. A larger and longer study is planned to further investigate the effectiveness of these interventions.

  3. Empirical analysis of Brazilian banks' capital buffers during the period 2001-2011

    Directory of Open Access Journals (Sweden)

    Vinícius Cintra Belém

    2016-04-01

    Full Text Available International literature indicates that the capital buffers held by banks result notably from the trade-off that exists between the cost of holding capital, adjustment costs, and bankruptcy costs, which all have a direct impact on banks' capital structures. The aim of this paper is to study the degree of sensitivity of Brazilian banks' capital buffers to the determining factors established in the literature, by using a sample of 121 banks, covering the period from 2001 to 2011. The empirical analysis that was carried out found that there was a significant cost of adjusting capital buffers for the Brazilian banks. At the same time, bankruptcy cost indicated a positive relationship between risk profile and capital buffers, while the cost of holding capital did not exhibit statistical significance in the analysis.

  4. Theorizing Emotional Capital

    NARCIS (Netherlands)

    Cottingham, M.D.

    2016-01-01

    Theorizing a sociology of emotion that links micro-level resources to macro-level forces, this article extends previous work on emotional capital in relation to emotional experiences and management. Emerging from Bourdieu’s theory of social practice, emotional capital is a form of cultural capital t

  5. Energy, cost, and CO 2 emission comparison between radiant wall panel systems and radiator systems

    CERN Document Server

    Bojić, Milorad; Miletić, Marko; Malešević, Jovan; Boyer, Harry

    2012-01-01

    The main goal of this paper is to evaluate the possibility of application or replacement of radiators with low-temperature radiant panels. This paper shows the comparison results of operations of 4 space heating systems: the low-temperature radiant panel system without any additional thermal insulation of external walls (PH-WOI), the low-temperature radiant panel system with additional thermal insulation of external walls (PH-WI), the radiator system without any additional thermal insulation of external walls (the classical heating system) (RH-WOI), and the radiator system with additional thermal insulation of external walls (RH-WI). The operation of each system is simulated by software EnergyPlus. The investigation shows that the PH-WI gives the best results. The RH-WOI has the largest energy consumption, and the largest pollutant emission. However, the PH-WI requires the highest investment.

  6. HOW TO MEASURE HUMAN CAPITAL: A SHORT REVIEW

    Directory of Open Access Journals (Sweden)

    Bálint BALOGH

    2013-06-01

    Full Text Available This paper focuses on the most important estimation approaches of human capital. These approaches can be labeled as either monetary or non-monetary methods of estimation. The three major monetary methods of human capital are the prospective method, the retrospective method and the integrated approach. The income-based approach (prospective method estimates human capital based on the present value of a person’s future income stream. The cost-based approach (retrospective method is centered on the “production” costs of human capital, trying to determine the costs of producing human capital by adding up the education and schooling costs. The integrated approach is a mixture of the prospective and retrospective method. On the other side, the non-monetary measures are essentially education-based indicators, such as the literacy rate, the school enrollment rate or the average years of education.

  7. Optimization of the customer capital management system of the enterprise

    Directory of Open Access Journals (Sweden)

    Ie.O. Golysheva

    2013-12-01

    Full Text Available The aim of the article. The aim of the article is development of methodology of optimization of customer capital management system for enterprises. The results of the analysis. Thу article presents the optimization of customer capital management system which based on author’s methodology of customer capital evaluation. This methodology is based on the definition of integral indexes for resource and potential components of customer capital. The author considers the system of business relationship with economic contractors, information about economic contractors and history of relations with them, the trademarks of the company to the resource part and distribution system, communication system and image of the company – to the potential part of customer capital. Accordingly, the improvement of the state of customer capital management is due to the implementation of complex of strategic actions to switch positions on the matrix «resource-potential». The increase of the resource base and potential of customer capital leads to increased competitive position of the company and increases the efficiency of its activities. However, increasing the level of customer capital is required costs of management actions. Therefore, it is necessity of determine of the optimal value of the result and the necessary costs to produce it. The article presents a graphical interpretation of depending costs of customer capital increasing, results of enterprise activity on the state of its customer capital. Going to the next quadrant of the matrix «resource-potential» is made in the direction of «up and right». It is linked to the achievement of results and additional costs. Their tentative list is given in the article. Each transition is associated with a certain level of results and costs. It is necessary to choose that variant, when the ratio is maximum. Thus, in the paper an algorithm has been developed that takes into account all possible transitions and

  8. Is Capitalism Ethical?

    Directory of Open Access Journals (Sweden)

    Suciu T.

    2009-12-01

    Full Text Available The author of this paper have set off from the question: is the present capitalism ethical? We started with the delimitation and correlation of the concepts of ethics, morals, morality. Further on, we analysed the evolution of capitalism in connection with morals. Based on this research, we came to the conclusion that the capitalist system has undergone through three stages: moral capitalism, amoral capitalism, and immoral capitalism. We concluded by implying that the corporate capitalist society is immoral, that it cannot regulate itself and that the government’s assistance is needed to inoculate the ethics.

  9. Comparison of cost determination of both resource consumption accounting and time-driven activity-based costing systems in a healthcare setting.

    Science.gov (United States)

    Özyapıcı, Hasan; Tanış, Veyis Naci

    2016-06-02

    Objective The aim of the present study was to explore the differences between resource consumption accounting (RCA) and time-driven activity-based costing (TDABC) systems in determining the costs of services of a healthcare setting.Methods A case study was conducted to calculate the unit costs of open and laparoscopic gall bladder surgeries using TDABC and RCA.Results The RCA system assigns a higher cost both to open and laparoscopic gall bladder surgeries than TDABC. The total cost of unused capacity under the TDABC system is also double that in RCA.Conclusion Unlike TDABC, RCA calculates lower costs for unused capacities but higher costs for products or services in a healthcare setting in which fixed costs make up a high proportion of total costs.What is known about the topic? TDABC is a revision of the activity-based costing (ABC) system. RCA is also a new costing system that includes both the theoretical advantages of ABC and the practical advantages of German costing. However, little is known about the differences arising from application of TDABC and RCA.What does this paper add? There is no study comparing both TDABC and RCA in a single case study based on a real-world healthcare setting. Thus, the present study fills this gap in the literature and it is unique in the sense that it is the first case study comparing TDABC and RCA for open and laparoscopic gall bladder surgeries in a healthcare setting.What are the implications for practitioners? This study provides several interesting results for managers and cost accounting researchers. Thus, it will contribute to the spread of RCA studies in healthcare settings. It will also help the implementers of TDABC to revise data concerning the cost of unused capacity. In addition, by separating costs into fixed and variable, the paper will help managers to create a blended (combined) system that can improve both short- and long-term decisions.

  10. [IQWiG's methods for the cost-benefit assessment : Comparison with an international reference scenario].

    Science.gov (United States)

    Schwalm, A; Danner, M; Seidl, A; Volz, F; Dintsios, C M; Gerber, A

    2010-06-01

    Standardization of international health economic guidelines has been repeatedly requested. In this context, an international reference case was proposed, which constitutes an agreed approach for the key elements of health economic evaluation including study perspective, comparators, source of effectiveness data, role of modeling, main (economic) outcome, source of utilities, characterizing uncertainty. It is, however, questionable whether such a reference scenario can reasonably be applied across all health care systems. Our analysis pursues the question to which degree the Institute for Quality and Efficiency in Health Care's (Institut für Qualität und Wirtschaftlichkeit im Gesundheitswesen, IQWiG) "General methods for evaluating the relation between cost and benefit" comply with the key elements of the reference case. In case of divergences, they will be described and discussed in light of the German social legislation and in consideration of current scientific evidence. In conclusion, the analysis revealed that IQWiG complied with the reference case in almost all aspects. Differences were found only with respect to the choice of main (economic) outcome and the source of utilities. These differences seem justified and well explained in the context of the German social legislation as well as in view of the weaknesses of the quality-adjusted life year (QALY) concept.

  11. Comparison of energy cost of maximal strength and local muscle endurance training in young women

    Directory of Open Access Journals (Sweden)

    Márcio Antonio Gonsalves Sindorf

    2013-04-01

    Full Text Available The aim of this study was to compare the energy cost (EC of two weight training protocols in young women. Twelve women between 18 and 29 years old participated in the study. All the volunteers were under one maximum repetition test (1RM, protocols of maximum strength training (MS, and local muscle endurance training (LME. At rest, during of the training session and 30 minutes of recovery, the measures of the expired air were made through metabolic gases analyzer and module of telemetry. There were not significant differences (p > .05 in EC at rest before MS session  and LME session, the EC in kcal/min was higher (p < .01 during LME  than MS, and the total EC of  MS  was higher (p > .05 than LME session. The energy expenditure returned to resting values before 30 minutes in both sessions. It was concluded that the MS and LME weight training sessions resulted in a low EC.

  12. Determining Wind Turbine Gearbox Model Complexity Using Measurement Validation and Cost Comparison: Preprint

    Energy Technology Data Exchange (ETDEWEB)

    LaCava, W.; Xing, Y.; Guo, Y.; Moan, T.

    2012-04-01

    The Gearbox Reliability Collaborative (GRC) has conducted extensive field and dynamometer test campaigns on two heavily instrumented wind turbine gearboxes. In this paper, data from the planetary stage is used to evaluate the accuracy and computation time of numerical models of the gearbox. First, planet-bearing load and motion data is analyzed to characterize planetary stage behavior in different environments and to derive requirements for gearbox models and life calculations. Second, a set of models are constructed that represent different levels of fidelity. Simulations of the test conditions are compared to the test data and the computational cost of the models are compared. The test data suggests that the planet-bearing life calculations should be made separately for each bearing on a row due to unequal load distribution. It also shows that tilting of the gear axes is related to planet load share. The modeling study concluded that fully flexible models were needed to predict planet-bearing loading in some cases, although less complex models were able to achieve good correlation in the field-loading case. Significant differences in planet load share were found in simulation and were dependent on the scope of the model and the bearing stiffness model used.

  13. [Clinical study using activity-based costing to assess cost-effectiveness of a wound management system utilizing modern dressings in comparison with traditional wound care].

    Science.gov (United States)

    Ohura, Takehiko; Sanada, Hiromi; Mino, Yoshio

    2004-01-01

    In recent years, the concept of cost-effectiveness, including medical delivery and health service fee systems, has become widespread in Japanese health care. In the field of pressure ulcer management, the recent introduction of penalty subtraction in the care fee system emphasizes the need for prevention and cost-effective care of pressure ulcer. Previous cost-effectiveness research on pressure ulcer management tended to focus only on "hardware" costs such as those for pharmaceuticals and medical supplies, while neglecting other cost aspects, particularly those involving the cost of labor. Thus, cost-effectiveness in pressure ulcer care has not yet been fully established. To provide true cost effectiveness data, a comparative prospective study was initiated in patients with stage II and III pressure ulcers. Considering the potential impact of the pressure reduction mattress on clinical outcome, in particular, the same type of pressure reduction mattresses are utilized in all the cases in the study. The cost analysis method used was Activity-Based Costing, which measures material and labor cost aspects on a daily basis. A reduction in the Pressure Sore Status Tool (PSST) score was used to measure clinical effectiveness. Patients were divided into three groups based on the treatment method and on the use of a consistent algorithm of wound care: 1. MC/A group, modern dressings with a treatment algorithm (control cohort). 2. TC/A group, traditional care (ointment and gauze) with a treatment algorithm. 3. TC/NA group, traditional care (ointment and gauze) without a treatment algorithm. The results revealed that MC/A is more cost-effective than both TC/A and TC/NA. This suggests that appropriate utilization of modern dressing materials and a pressure ulcer care algorithm would contribute to reducing health care costs, improved clinical results, and, ultimately, greater cost-effectiveness.

  14. 75 FR 4635 - Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Regulatory...

    Science.gov (United States)

    2010-01-28

    ... 325 Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Regulatory... structures designed for current regulatory capital treatment and/or adopt the more risk-sensitive capital... FAS 167 on banking organizations' risk-based capital ratios will result in regulatory...

  15. MAPPING EUROPEAN CAPITAL MARKETS TENDENCIES

    Directory of Open Access Journals (Sweden)

    Andreea Avadanei

    2011-01-01

    Full Text Available The scope of this paper is to analyze the main tendencies influencing European capitalmarkets development. In order to point out their implications, we structured our study onfour chapters. The first one illustrates the consolidation of stock exchanges at the Europeanlevel; the seconds presents some considerations about the deregulation/re-regulation of EUcapital markets; the third section highlights the globalization implications on their evolutionand the fourth one indicates the effects of financial innovation. The progressive integrationof European capital markets over the past decade contributed to the lowering of capital costas a result of increased risk diversification opportunities and reduced transaction costs dueto the specialization of financial system provisions. Moreover, the expansion of thesemarkets improved firms financing decisions, leading to an increased share of non-bankfunding sources.

  16. Human Capital and Knowledge Emergence. Induced Effects of the Global Crisis on Human capital and Innovation

    Directory of Open Access Journals (Sweden)

    Simona Buta

    2014-12-01

    Full Text Available In the global crisis context crossed by organizations and countries in the past six years we assist also at conflicting measures in which regards knowledge, innovation and human capital; for example, countries such as England and France have reduced their costs for education, while Germany and other countries (Australia, Austria, Canada and Norway maintained the same allocations for education. What will be the effects of such measures on human capital in the near future? What are the best human resources policies in companies in the crisis context? Given that the subject of the research is "knowledge and human capital", in this paper we refer to the induced effects of the crisis on human capital and innovation. We will also identify the key steps that can be taken during crisis, and not only, to stimulate human capital.

  17. 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 ...

  18. Manufacturing Capital Lingers in the Stock Market

    Institute of Scientific and Technical Information of China (English)

    吴程涛; 段铸; 张景宇; 张曙光

    2008-01-01

    Pressured by a slowdown in exports, cost increases and dwindling returns to manufacturing investments, China’s manufacturing capital has begun to shift to the real-estate and stock markets. As a matter of fact, the stock market had already felt a shock a couple of years ago when top domestic manufacturers like Midea, Gree, TCL and LMZ started to invest their idle capital in the real-estate and stock markets. Investments of manufacturing capital in both the real estate and stock markets have increased fluid capital and pushed up the value of both markets. Booms in both markets have in turn guaranteed investment returns of manufacturing capital, which further increased the stock market valuations of manufacturing capital. Such a cycle has created interest chains between listed manufacturers, the stock market and the real-estate market. Along with the ups and downs of the stock and real-estate markets, manufacturing capital now faces a dilemma: to escape or to persist? Where should it escape? When can the markets be profitable again? Just like the classic Shakespearean question: to be or not to be, that is the question.

  19. Functions of Relationship Capital in Rural Public Sports Service

    Institute of Scientific and Technical Information of China (English)

    Wanjing; ZHU

    2014-01-01

    The field survey of two natural villages found that the relationship capital plays an important role in rural public sports service benefiting from the rural elite operation mode. However,negative effect brought by the relationship capital should not be neglected,including distorting the social equity,increasing social transaction cost,and weakening the public trust in government. It is a top priority to effectively evade its negative effect and bring into full play huge potential of the relationship capital.

  20. FAIR VALUE IMPLICATIONS ON ROMANIAN CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    Ciprian-Dan COSTEA

    2014-12-01

    Full Text Available Fair value generated intense debate during the last years, as the financial turmoil influenced many economies and capital markets, including the Romanian ones, too. Some researchers and professionals consider fair value in charge with the financial crisis and they ask for historical cost accounting basis for financial reporting. Fair value has its supporters, too. They consider that fair value reflects the effects of changes in market conditions when they take place, and accounting information is more reliable in this framework. Following recent regulations, Romanian entities activating on capital market as investors in capital market instruments, or whose shares are traded on a regulated market, must prepare their individual financial statements in accordance with the International Financial Reporting Standards. The study provides some conclusions that could enlarge the utility of fair value related to entities that activate on Romanian capital market.

  1. Cost comparisons between home- and clinic-based testing for sexually transmitted diseases in high-risk young women.

    Science.gov (United States)

    Smith, Kenneth J; Cook, Robert L; Ness, Roberta B

    2007-01-01

    Home testing for chlamydia and gonorrhea increases screening rates, but the cost consequences of this intervention are unclear. We examined the cost differences between home-based and clinic-based testing and the cost-effectiveness of home testing based on the DAISY study, a randomized controlled trial. Direct and indirect costs were estimated for home and clinic testing, and cost-effectiveness was calculated as cost per additional test performed. In the clinic testing group, direct costs were 49/test and indirect costs (the costs of seeking or receiving care) were 62/test. Home testing cost was 25/test. We found that home testing was cost saving when all testing for all patients was considered. However cost savings were not seen when only asymptomatic tests or when patient subgroups were considered. A home testing program could be cost saving, depending on whether changes in clinic testing frequency occur when home testing is available.

  2. 内源融资能力、资本结构对信贷融资成本的影响--基于中小企业的实证研究%Empirical Analysis on the Impact of Internal Financing Ability, Capital Structure on SMEs' Credit Financing Cost

    Institute of Scientific and Technical Information of China (English)

    马雪彬; 佟美琪

    2015-01-01

    Taking the small and medium-sized listed companies' own internal financing ability, capital structure factors for the observation point, taking the listed SMEs credit financing cost as the research object, selecting the Shenzhen SME board 2007-2013 a total of 7 years of 55 listed corporations as the research sample, this paper studies deeply the impact of internal financing ability, capital structure of the listed SMEs credit financing cost. The result shows the endogenous financing capacity of SMEs is weaker, capital structure is more dependent on debt financing, SMEs credit financing cost is higher; endogenous fi-nancing capacity of SMEs is stronger, the capital structure of dependence on debt financing is weaker, SMEs credit financing cost is lower. Therefore, the small and medium-sized enterprise should constantly improve the internal financing ability of small and medium-sized enterprises, and optimize its capital structure, so as to reduce the small and medium-sized enterprises' own financing cost, and constantly promote the small and medium-sized enterprises' own market competitiveness.%论文以中小上市企业自身内源融资能力、资本结构因素为观察点,以中小上市企业信贷融资成本为研究对象,选择2007-2013年共7年的深市中小板55家上市公司作为研究样本,实证分析了中小企业内源融资能力、资本结构对中小企业信贷融资成本的影响。结果显示中小企业的内源融资能力越强,资本结构对债务融资的依赖性越弱,中小企业的信贷融资成本越低。因此中小企业应提高自身的内源融资能力,优化资本结构,从而降低自身信贷融资成本。

  3. Comparison of risk and protective factors for chronic diseases in the population with and without health insurance in the Brazilian capitals, 2011

    Directory of Open Access Journals (Sweden)

    Deborah Carvalho Malta

    2014-01-01

    Full Text Available INTRODUCTION: The article compares the risk and protective factors for Non-communicable Diseases (NCD, referred morbidity and access to preventive examinations in the population with and without health insurance in all Brazilian State capitals. METHODS: The study population consists of adults (≥ 18 years old living in households with landlines in 26 Brazilian State capitals and the Federal District. Estimates of selected variables are presented according to possession of health plans ("Yes" or "No" and sex. A post-stratification was performed according to age, gender and education in both populations, and prevalence ratios were calculated, adjusted for age and sex between people with and without health insurance for the risk and protective factors for NCDs. RESULTS: A total of 54,099 people at the age of 18 or older were evaluated, 47.4% of them were beneficiaries of health plans. The coverage of health insurance tends to increase with age and level of education. Compared to non-beneficiaries of health plans, beneficiaries were more likely to have protective factors, such as healthy eating, physical activity, coverage tests, such as mammography and Pap test, and lower prevalence of risk factors such as smoking, physical inactivity, poor health assessment and hypertension. Alcohol abuse, consumption of excessively fat meats, overweight, obesity and diabetes were not associated with the variable possession of health insurance. When controlled by education, individuals who have health insurance generally have better indicators. CONCLUSION: This information is important to establish measures for reducing differences among people with and without health insurance.

  4. Costs of urban area retrofit to district heating and cooling systems: north-central cities

    Energy Technology Data Exchange (ETDEWEB)

    Santini, D J; Davis, A A; Marder, S M

    1978-03-01

    This study considers the major urbanized areas of six U.S. cities (Washington, D.C.; St. Louis; Cleveland; Milwaukee; Detroit; Chicago) to arrive at reasonably accurate estimates of costs required to retrofit them with district heating and cooling systems. Only costs associated with heating and hot water are addressed here. Demand estimates and energy-supply analyses are made, and component capital costs are estimated to arrive at annualized system costs. Finally, a comparison of alternative energy-delivery options is made, and estimates of scarce-fuel savings are derived. 39 refs., 12 figs., 14 tables.

  5. 49 CFR 639.25 - Calculation of lease cost.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 7 2010-10-01 2010-10-01 false Calculation of lease cost. 639.25 Section 639.25..., DEPARTMENT OF TRANSPORTATION CAPITAL LEASES Cost-Effectiveness § 639.25 Calculation of lease cost. (a) For purposes of this part, the lease cost of a capital asset is— (1) The cost to lease the asset for the...

  6. Comparison of the Ministry of Health’s tariffs with the cost of radiology services using the activity-based costing method

    Science.gov (United States)

    Kalhor, Rohollah; Amini, Saeed; Emami, Majid; Kakasoltani, Keivan; Rhamani, Nasim; Kalhor, Leila

    2016-01-01

    Introduction Efficient use of resources in organizations is one of the most important duties of managers. Appropriate allocation of resources can help managers to do this well. The aim of this study was to determine the cost of radiology services and to compare it with governmental tariffs (introduced by the Ministry of Health in Iran). Methods This was a descriptive and applied study that was conducted using the retrospective approach. First, activity centers were identified on the basis of five main groups of hospital activities. Then, resources and resource drivers, activities, and hospital activity drivers were identified. At the next step, the activities related to the delivery of radiology process were identified. Last, through allocation of activities cost to the cost objects, the cost price of 66 services that were delivered in the radiology department were calculated. The data were collected by making checklists, using the hospital’s information system, observations, and interviews. Finally, the data were analyzed using the non-parametric Wilcoxon test, Microsoft Excel, and SPSS software, version 18. Results The findings showed that from the total cost of wages, materials, and overhead obtained, the unit cost of the 66 cost objects (delivered services) in the Radiology Department were calculated using the ABC method (Price of each unit of Nephrostogram obtained $15.8 and Cystogram obtained $18.4). The Kolmogorov-Smirnov test indicated that the distribution of data of cost price using the ABC method was not normal (p = 0.000). The Wilcoxon test showed that there was a significant difference between the cost of services and the tariff of radiology services (p = 0.000). Conclusions The cost of delivered services in radiology departments was significantly higher than approved tariffs of the Ministry of Health, which can have a negative impact on the quality of services. PMID:27054013

  7. 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...

  8. 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....

  9. Corruption and the Efficiency of Capital Investment in Developing Countries

    DEFF Research Database (Denmark)

    O’Toole, Conor M.; Tarp, Finn

    2014-01-01

    This paper tests the effect of corruption on the efficiency of capital investment. Using firm-level data from the World Bank Enterprise Surveys, covering 90 developing and transition economies, we consider whether the cost of informal bribe payments distorts the efficient allocation of capital...

  10. 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....

  11. 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...

  12. Human Capital Diversification within the Household

    DEFF Research Database (Denmark)

    Lilleør, Helene Bie

    Lack of primary schooling among rural children in developing countries is often attributed to credit constraints and household demand for child labour, implying that direct and indirect costs of schooling are high. Surprisingly few studies have considered the importance of parents' expected returns...... of investing in their childrens human capital, despite the fact that most parents rely on their children for old-age support and subsistence. In this paper, I propose an alternative model for human capital investment based on the household, rather than the individual child, incorporating the fact that parents...... bear the costs of educating all their children and face uncertainty about the level and share of future returns. This uncertainty can make it optimal for parents to ensure a certain degree of human capital diversification within the household. The model implications allow me to test whether...

  13. Human Capital Diversification within the Household

    DEFF Research Database (Denmark)

    Lilleør, Helene Bie

    bear the costs of educating all their children and face uncertainty about the level and share of future returns. This uncertainty can make it optimal for parents to ensure a certain degree of human capital diversification within the household. The model implications allow me to test whether......Lack of primary schooling among rural children in developing countries is often attributed to credit constraints and household demand for child labour, implying that direct and indirect costs of schooling are high. Surprisingly few studies have considered the importance of parents' expected returns...... of investing in their childrens human capital, despite the fact that most parents rely on their children for old-age support and subsistence. In this paper, I propose an alternative model for human capital investment based on the household, rather than the individual child, incorporating the fact that parents...

  14. THE MARKET VALUE OF HUMAN CAPITAL: AN EMPIRICAL ANALYSIS

    Directory of Open Access Journals (Sweden)

    NEAGU OLIMPIA

    2012-12-01

    Full Text Available There is a general consensus that human capital is a major determinant of economic growth. Reflections on how human capital is related to growth can be extended by viewing on the market value of the human capital. The concept of the market value of human capital reflects the efficiency of allocation and utilisation of the human capital in the economy. To measure this efficiency the concept of the market value of human capital is explained and developed in the present paper. The aim of the paper is to introduce the concept of market value of human capital and the specific objectives are targeted to define his content, to propose a method for estimating it and to provide calculations of it for OECD countries. The concept of human capital is complex and multifaceted one, consisting of: native human capital (biological, educational capital, health capital and social skills (Neagu, 2010. Clearly, human capital is intangible, a stock that is not directly observable as physical capital. Therefore, the estimation of human capital must be constructed indirectly. The stock of human capital in economy creates economic value, expressed through the economic output per capita. In order to estimate this economic value we have to find an appropriate proxy for the human capital stock producing that value. In the purpose of our paper, we consider that the economic value of human capital can be estimated by calculating the aggregate value created by the active human capital in the economy. In this view, GDP per person employed is a relevant estimation of value created by the employed labour force. The aggregate value is created by the employed persons with different educational level. The market value of human capital is calculated by dividing the GDP per person employed to the human capital stocks active in the economy. The human capital stock depends on educational costs ( on primary, seconadry, tertiary education as a the share of GDP per capita weighted by the

  15. The Effect of Automation on Job Duties, Classifications, Staffing Patterns, and Labor Costs in the UBC Library's Cataloguing Divisions: A Comparison of 1973 and 1986.

    Science.gov (United States)

    de Bruijn, Erik

    This report discusses an ex post facto study that was done to examine the effect that the implementation of automated systems has had on libraries and support staff, labor costs, and productivity in the cataloging divisions of the library of the University of British Columbia. A comparison was made between two years: 1973, a pre-automated period…

  16. Cost comparison of two systems for eliminating arsenic from drinking water; Comparacion de costes de dos sistemas para la eliminacion de arsenico en aguas potables

    Energy Technology Data Exchange (ETDEWEB)

    Mujal Tasende, F.

    2007-07-01

    Two ways of reducing the arsenic content of drinking water one using iron oxide salts, the other employing bio filtration were compared taking into account the initial investment and the operating costs throughout the useful lifetime of the projects, estimated at 20 years. On the basis of this time scale, the cost of the water obtained is 0.18 Euros/m{sup 3} with the iron oxide salts method and 0.02 Euros/m{sup 3} with bio filtration, which makes the latter the method of choice for installations managed by public or private organisations in which operating costs are of vital importance. (Author) 19 refs.

  17. Are Capital Buffers Countercyclical ? An Evidence From Pakistan

    Directory of Open Access Journals (Sweden)

    Romila Qamar

    2016-09-01

    Full Text Available New risk based capital requirement have pro-cyclical effect and causes negative externalities in the economy. During recession, on one side, quality of loan portfolio deteriorates and probability of default increases resulting into increased level of provisions and write off’s and reduced capital level. This causes an increase in capital requirements which becomes more expensive. Weaker banks fail to access new capital and ultimately reduce the credit supply. On the other side, banks are required to maintain the minimum capital which results into credit supply contraction and hits the bank’s profitability leading to a situation called Credit Crunch. This situation may prolong recession. During the crisis, developing countries are more affected than developed countries and this debate is entirely new in Pakistan. This research empirically investigates the pro-cyclical effect of new capital regulation under Basel II using panel data of 47 Pakistani Banks from 2001-2012. Particularly this paper examines the capital management mechanisms using capital buffers, using Generalized Method of Moments (GMM one step and two step estimation techniques on dynamic panel data model. The results gives evidence that capital buffer are counter-cyclical except in case of specialized banks because of difference in operations. The findings also suggest that adjustment costs, cost of raising capital and bankruptcy costs are major determines of holding capital buffer. Analysis confirms too big to fail hypothesis. Form the results, it is concluded that capital buffer are counter-cyclical, consistent with the hypothesis. The findings suggest the banks to adopt Basel III Accord.

  18. More Like Ourselves: Indigenous Capitalism through Tourism

    Science.gov (United States)

    Bunten, Alexis Celeste

    2010-01-01

    Through a comparison of Indigenous-owned cultural tourism businesses in southeastern Alaska and New Zealand as well as secondary data examining Indigenous tourism across the Pacific, this article introduces the concept of "Indigenous capitalism" as a distinct strategy to achieve ethical, culturally appropriate, and successful Indigenous…

  19. Cost comparison of individual and mini grid photovoltaic systems for rural electrification; Comparacao de custos entre sistemas fotovoltaicos individuais e minicentrais fotovoltaicas para eletrificacao rural

    Energy Technology Data Exchange (ETDEWEB)

    Soares, Guilherme Fleury Wanderley; Vieira, Leonardo dos Santos Reis; Galdino, Marco Antonio Esteves [Centro de Pesquisas de Energia Eletrica (CEPEL), Rio de Janeiro, RJ (Brazil)], Emails: fleury@cepel.br, lsrv@cepel.br, marcoag@cepel.br; Olivieri, Marta Maria de Almeida; Borges, Eduardo Luis de Paula; Carvalho, Claudio Monteiro de; Lima, Alex Artigiani Neves [Centrais Eletricas Brasileiras S.A. (ELETROBRAS), Rio de Janeiro, RJ (Brazil)], Emails: martaolivieri@eletrobras.com, eduardo_borges@eletrobras.com, claudio.carvalho@eletrobras.com, alex.lima@eletrobras.com

    2010-07-01

    A cost comparison for individual and mini grid photovoltaic systems is made regarding the use of these systems for rural electrification in Northern Brazil. The estimates for maintenance costs were based on existing experience for individual systems already operating in the region. A comparison was also made between modified automotive lead acid batteries commonly used in photovoltaic systems in Brazil and the much more expensive OPzS tubular types. The results of these evaluations show that the maintenance costs are expected to be lower in the case of the mini grids than in individual systems. This is because for a given number of houses to be supplied with electrical energy, they use a smaller number of components subject to failures, like inverters and charge controllers. OPzS batteries are expected to compensate for their higher prices if their predicted operating lifetime can be confirmed under the practical conditions envisaged. (author)

  20. Comparison of costs of percutaneous transluminal coronary angioplasty and coronary bypass surgery for patients with angina pectoris

    NARCIS (Netherlands)

    C. van Halem; F. van den Brink; P.J. de Feyter (Pim); P.W.J.C. Serruys (Patrick); H. Suryapranata (Harry); K.J. Meeter; E. Bos (Egbert); F.J. van Dalen (Frederik); M.J.B.M. van den Brand (Marcel)

    1990-01-01

    textabstractTo determine the costs of a procedure, the total costs of the department that provides the service must be considered and, in addition, the direct cost of the specific procedure. Applying this principle to the cost accounting of angioplasty and bypass surgery results in a direct, i.e. pr

  1. 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.

  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...

  3. Venture capital and internationalization

    NARCIS (Netherlands)

    Schertler, Andrea; Tykvova, Tereza

    2011-01-01

    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 ca

  4. Social Capital in Asia

    DEFF Research Database (Denmark)

    Li, Peter Ping

    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...

  5. Aggregating economic capital

    NARCIS (Netherlands)

    Dhaene, J.; Goovaerts, M.; Lundin, M.; Vanduffel, S.

    2005-01-01

    In this paper we analyze and evaluate a standard approach financial institutions use to calculate their so-called total economic capital. If we consider a business that faces a total random loss S over a given one-year horizon then economic capital is traditionally defined as the difference between

  6. Human Capital and Retirement

    NARCIS (Netherlands)

    P. Alders

    1999-01-01

    textabstractThis paper investigates the relation between human capital and retirement when the age of retirement is endogenous. This relation is examined in a life-cycle earnings model. An employee works full time until retirement. The worker accumulates human capital by training- on-the-job and by

  7. Linguistic Capital Pays Dividends

    Science.gov (United States)

    Linse, Caroline

    2013-01-01

    Some 37 million U.S. residents speak Spanish at home and more than 55% of them say they also speak English. That creates what is called linguistic capital. Although linguistic capital is difficult to quantify, it is enormously valuable and is determined by an individual's language competency, and is too frequently wasted instead of being…

  8. Electric Composition Cost Comparison.

    Science.gov (United States)

    Joint Committee on Printing, Washington, DC.

    Experience of the U.S. Government Printing Office and others has shown that electronic composition of computer processed data is more economical than printing from camera copy produced by the line printers of digital computers. But electronic composition of data not already being processed by computer is not necessarily economical. This analysis…

  9. 76 FR 42768 - Capital Distribution

    Science.gov (United States)

    2011-07-19

    ... Office of Thrift Supervision Capital Distribution AGENCY: Office of Thrift Supervision (OTS), Treasury... concerning the following information collection. Title of Proposal: Capital Distribution. OMB Number: 1550..., the information provides the OTS with a mechanism for monitoring capital distributions since...

  10. 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...

  11. Big Cost to Families

    Institute of Scientific and Technical Information of China (English)

    MATT; YOUNG

    2006-01-01

    If tobacco multinationals had their way, China might more closely resemble a chimney. So what are the costs of a potentially smokier future in China? Aside from health costs, there could be economically (and educationally) severe ones, according to a new study published in Social Science & Medicine by a Yale professor. Dr. Hong Wang analyzed how the cost of smoking impacts China's critical economic strengths: human capital investment (defined by education and healthcare), risk-taking capacity (defined by...

  12. 77 FR 52977 - Regulatory Capital Rules: Advanced Approaches Risk-Based Capital Rule; Market Risk Capital Rule

    Science.gov (United States)

    2012-08-30

    ... Regulatory Capital Rules: Advanced Approaches Risk-Based Capital Rule; Market Risk Capital Rule; Proposed... 325 RIN 3064-AD97 Regulatory Capital Rules: Advanced Approaches Risk-Based Capital Rule; Market Risk... ``Regulatory Capital Rules: Advanced Approaches Risk-based Capital Rule; Market Risk Capital Rule''...

  13. Evaluation of the effect of sector capital assets use efficiency on capital productivity ratio in Ukraine

    Directory of Open Access Journals (Sweden)

    Ohdanskiy K. M.

    2015-05-01

    Full Text Available The real state of the capital assets’ disposal through the national economy sectors is determined in comparison with the result of capital assets use in the country’s economic complex in general in the time period of 1990-2012. It has been proved that the apparent total results regarding efficiency achieved in capital assets use through the sectors of economy do not demonstrate their real effect on the capital productivity ratio of the national economy in the whole. Analysis of the effect of the labor instruments concentrated in the national economy sectors on the national capital productivity ratio has been made. The sectors with their stuff which really determine the level of capital assets use in the country have been identified. Existence and development of the institute of economic initiatives have been proved. The fact is that the economic initiatives mentioned above concentrate their efforts on the improvement of capital assets use and the need to attract attention of the subjects of economic activities to the social development concept.

  14. Is Social Capital an Effective Smoke Condenser? An Essay on Concept Linking the Social Sciences

    DEFF Research Database (Denmark)

    Svendsen, Gert Tinggaard; Paldam, Martin

    1998-01-01

    Social capital is defined as mutual trust. It is related to production by a key hypothesis: social capital determines how easily people work together. An easy-to-use proxy (Putnam's Instrument) is the density of voluntary organizations. Social capital might be a new production factor which must...... be added to human and physical capital, or it might enter as a reduction in either transaction or monitoring costs. A direct and an indirect way to measure social capital are discussed. The crucial question is if social capital can be changed. That is, if self enforcement can replace third party...

  15. Thinking strategically about imaging capacity and capital.

    Science.gov (United States)

    Griffin, David; Dubiel, Paul

    2006-01-01

    Diagnostic imaging continues to place high demands on hospital and health system capital budgets due to the high cost of most equipment and the rate of technological change. Diagnostic imaging also can be a significant service in competitive positioning, both alone and in conjunction with other programs and services. The purpose of this article is to provide a framework for linking diagnostic imaging to key hospital programs, and for forecasting future demands and capital requirements. The model has been developed over time in a number of settings in the United States and Canada. The specific examples are mostly from the Seton Healthcore Network in Austin, TX.

  16. The Evaluation and Rethinking on the Dividends Proportion of State-owned Enterprises:Based on the State-owned Financial Goals of Capital Cost%国有企业分红比例的评估与再思考--基于资本成本的国企理财目标

    Institute of Scientific and Technical Information of China (English)

    李丽琴

    2015-01-01

    以资本成本的国有企业理财目标为研究视角,从兼顾股权资本成本及企业可持续增长的角度出发,通过构建可持续分红比例模型对中国国有企业的可持续分红比例进行估算,并通过聚类分析评估现行分类执行的比例标准。研究发现,中国国有企业的现实分红比例低于可持续分红比例,现有的分类标准并没有将资本成本及企业可持续增长纳入考量指标。在实证分析的基础上,提出了完善国有企业分红制度的政策建议。%Starting from the state-owned financial goals of capital cost and considering from both the perspective of equity capital cost and enterprise sustainable growth,this paper built a sustainable revenue sharing model to esti-mate the sustainable dividend proportion of state-owned enterprises in China,and through the cluster analysis to e-valuate the current classification standard.The study found that the reality of state-owned enterprises pay dividends proportion was lower than the sustainable dividend proportion,the classification of the existing standards did not make the cost of capital and the enterprise sustainable growth index into account.On the basis of empirical analysis, this paper put forward the policy suggestions to perfect the system of state-owned enterprises pay dividends.

  17. Efficiency and Cost Comparison of Si IGBT and SiC JFET Isolated DC/DC Converters

    DEFF Research Database (Denmark)

    Nielsen, Rasmus Ørndrup; Török, Lajos; Munk-Nielsen, Stig

    2013-01-01

    . An efficiency of above 97 % for the SiC JFET and over 90 % for the SI IGBT converter was measured. Cost differences between the two converters have been analyzed, showing that 772 days of operation are needed for the SiC converter costs to break even with the Si IGBT converter costs....

  18. The impact of scale, complexity, and service quality on the administrative costs of pension funds: A cross-country comparison

    NARCIS (Netherlands)

    Bikker, J.A.; Steenbeek, O.W.; Torracchi, F.

    2010-01-01

    Administrative costs per participant appear to vary widely across pension funds in different countries. These costs are important because they reduce the rate of return on the investments of pension funds, and consequently raise the cost of retirement security. Using unique data on 90 pension funds

  19. Cost-benefit analysis in occupational health: A comparison of intervention scenarios for occupational asthma and rhinitis among bakery workers

    NARCIS (Netherlands)

    Meijster, T.; Duuren-Stuurman, B. van; Heederik, D.; Houba, R.; Koningsveld, E.; Warren, N.; Tielemans, E.

    2011-01-01

    Objectives: Use of cost-benefit analysis in occupational health increases insight into the intervention strategy that maximises the cost-benefit ratio. This study presents a methodological framework identifying the most important elements of a cost-benefit analysis for occupational health settings.

  20. A Danish cost-effectiveness model of escitalopram in comparison with citalopram and venlafaxine as first-line treatments for major depressive disorder in primary care

    DEFF Research Database (Denmark)

    Sørensen, Jan; Stage, Kurt B; Damsbo, Niels

    2007-01-01

    The objective of this study was to model the cost-effectiveness of escitalopram in comparison with generic citalopram and venlafaxine in primary care treatment of major depressive disorder (baseline scores 22-40 on the Montgomery-Asberg Depression Rating Scale, MADRS) in Denmark. A three-path dec......The objective of this study was to model the cost-effectiveness of escitalopram in comparison with generic citalopram and venlafaxine in primary care treatment of major depressive disorder (baseline scores 22-40 on the Montgomery-Asberg Depression Rating Scale, MADRS) in Denmark. A three...... in 2004 DDK. The expected overall 6-month remission rate was higher for escitalopram (64.1%) than citalopram (58.9%). From both perspectives, the total expected cost per successfully treated patient was lower for escitalopram (DKK 22,323 healthcare, DKK 72,399 societal) than for citalopram (DKK 25......,778 healthcare, DKK 87,786 societal). Remission rates and costs were similar for escitalopram and venlafaxine. Robustness of the findings was verified in multivariate sensitivity analyses. For patients in primary care, escitalopram appears to be a cost-effective alternative to (generic) citalopram, with greater...

  1. 48 CFR 31.205-10 - Cost of money.

    Science.gov (United States)

    2010-10-01

    ...) Refers to— (i) Facilities capital cost of money (48 CFR 9904.414); and (ii) Cost of money as an element of the cost of capital assets under construction (48 CFR 9904.417). (b) Cost of money is allowable, provided— (1) It is measured, assigned, and allocated to contracts in accordance with 48 CFR 9904.414...

  2. COMPARISON OF DIRECT COSTS OF DABIGATRAN AND WARFARIN THERAPY IN PATIENTS WITH NON-VALVULAR ATRIAL FIBRILLATION DURING PREPARATION FOR ELECTIVE CARDIOVERSION IN THE REAL CLINICAL PRACTICE

    Directory of Open Access Journals (Sweden)

    L. E. Kuvshinova

    2013-01-01

    Full Text Available Aim. To compare direct medical costs of dabigatran and warfarin therapy in patients with non-valvular atrial fibrillation (NVAF during preparation for elective cardioversion. Material and methods. An open non-randomized study was conducted to evaluate direct medical costs (cost of drug, cost of the international normalized ratio (INR adjust- ment in outpatient clinic, cost of visits to cardiologist. Patients (n=62 with persistent NVAF (AF paroxysm duration > 48 hours were enrolled. All of them requested medical as- sistance and were decided to perform an elective cardioversion. The patients received warfarin (n=32 or dabigatran (n=30. The patients of the both groups were similar in the main clinical characteristics and thromboembolic risk levels according to CHA2DS2-VASc scale.Results. Treatment duration before elective cardioversion was 21±2 and 30.5±4.5 days for dabigatran and warfarin groups, respectively (p<0.05. Average costs of visits to cardiologists were 3,720 and 744 RUB in warfarin and dabigatran groups, respectively (p<0.05, and drug costs were 53.63 and 1,172.01 RUB, respectively (p<0.05. The costs of laboratory INR monitoring were 3,058 RUB in warfarin group. Total costs per patient were 6,831.63 and 1,916.01 RUB in warfarin and dabigatran groups, respectively (p<0.05. Conclusion. In the real clinical practice in patients with NVAF dabigatran antithromboembolic therapy substantially reduces direct medical costs in comparison with warfarin ther- apy during preparation for elective cardioversion. Dabigatran therapy reduces time from the decision of elective cardioversion and antithromboembolic therapy start to car- dioversion performance.

  3. Cost comparison of insulin glargine with insulin detemir in a basal-bolus regime with mealtime insulin aspart in type 2 diabetes in Germany

    Directory of Open Access Journals (Sweden)

    Dippel, Franz-Werner

    2010-01-01

    Full Text Available Objective: To compare the treatment costs of insulin glargine (IG; Lantus® to detemir (ID; Levemir®, both combined with bolus insulin aspart (NovoRapid® in type 2 diabetes (T2D in Germany. Methods: Cost comparison was based on data of a 1-year randomised controlled trial [1]. IG was administered once daily and ID once (57% of patients or twice daily (43% according to treatment response. At the end of the trial, mean daily basal insulin doses were 0.59 U/kg (IG and 0.82 U/kg (ID. Aspart doses were 0.32 U/kg (IG and 0.36 U/kg (ID. Costs were calculated from the German statutory health insurance (SHI perspective using official 2008 prices. Sensitivity analyses were performed to test robustness of the results. Results: Annual basal and bolus insulin costs per patient were € 1,473 (IG and € 1,940 (ID. The cost of lancets and blood glucose test strips were € 1,125 (IG and € 1,286 (ID. Annual costs for needles were € 393 (IG and € 449 (ID. The total annual cost per patient of administering IG was € 2,991 compared with € 3,675 for ID, translating into a 19% annual cost difference of € 684/patient. Base case results were robust to varying assumptions for insulin dose, insulin price, change in weight and proportion of ID once daily administrations. Conclusion: IG and ID basal-bolus regimes have comparative safety and efficacy, based on the Hollander study, IG however may represent a significantly more cost saving option for T2D patients in Germany requiring basal-bolus insulin analogue therapy with potential annual cost savings of € 684/patient compared to ID.

  4. COMPARISON OF DIRECT COSTS OF DABIGATRAN AND WARFARIN THERAPY IN PATIENTS WITH NON-VALVULAR ATRIAL FIBRILLATION DURING PREPARATION FOR ELECTIVE CARDIOVERSION IN THE REAL CLINICAL PRACTICE

    Directory of Open Access Journals (Sweden)

    L. E. Kuvshinova

    2015-09-01

    Full Text Available Aim. To compare direct medical costs of dabigatran and warfarin therapy in patients with non-valvular atrial fibrillation (NVAF during preparation for elective cardioversion. Material and methods. An open non-randomized study was conducted to evaluate direct medical costs (cost of drug, cost of the international normalized ratio (INR adjust- ment in outpatient clinic, cost of visits to cardiologist. Patients (n=62 with persistent NVAF (AF paroxysm duration > 48 hours were enrolled. All of them requested medical as- sistance and were decided to perform an elective cardioversion. The patients received warfarin (n=32 or dabigatran (n=30. The patients of the both groups were similar in the main clinical characteristics and thromboembolic risk levels according to CHA2DS2-VASc scale.Results. Treatment duration before elective cardioversion was 21±2 and 30.5±4.5 days for dabigatran and warfarin groups, respectively (p<0.05. Average costs of visits to cardiologists were 3,720 and 744 RUB in warfarin and dabigatran groups, respectively (p<0.05, and drug costs were 53.63 and 1,172.01 RUB, respectively (p<0.05. The costs of laboratory INR monitoring were 3,058 RUB in warfarin group. Total costs per patient were 6,831.63 and 1,916.01 RUB in warfarin and dabigatran groups, respectively (p<0.05. Conclusion. In the real clinical practice in patients with NVAF dabigatran antithromboembolic therapy substantially reduces direct medical costs in comparison with warfarin ther- apy during preparation for elective cardioversion. Dabigatran therapy reduces time from the decision of elective cardioversion and antithromboembolic therapy start to car- dioversion performance.

  5. 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....

  6. Cost estimate guidelines for advanced nuclear power technologies

    Energy Technology Data Exchange (ETDEWEB)

    Delene, J.G.; Hudson, C.R. II

    1993-05-01

    Several advanced power plant concepts are currently under development. These include the Modular High Temperature Gas Cooled Reactors, the Advanced Liquid Metal Reactor and the Advanced Light Water Reactors. One measure of the attractiveness of a new concept is its cost. Invariably, the cost of a new type of power plant will be compared with other alternative forms of electrical generation. This report provides a common starting point, whereby the cost estimates for the various power plants to be considered are developed with common assumptions and ground rules. Comparisons can then be made on a consistent basis. This is the second update of these cost estimate guidelines. Changes have been made to make the guidelines more current (January 1, 1992) and in response to suggestions made as a result of the use of the previous report. The principal changes are that the reference site has been changed from a generic Northeast (Middletown) site to a more central site (EPRI`s East/West Central site) and that reference bulk commodity prices and labor productivity rates have been added. This report is designed to provide a framework for the preparation and reporting of costs. The cost estimates will consist of the overnight construction cost, the total plant capital cost, the operation and maintenance costs, the fuel costs, decommissioning costs and the power production or busbar generation cost.

  7. Family Social Capital, Enterprise Ownership Costs and Family Business Divestment:A Comparative Case Study%家族社会资本、企业所有权成本与家族企业分拆案例研究

    Institute of Scientific and Technical Information of China (English)

    吴炯

    2013-01-01

    This paper establishes a theoretical framework, which describes that "why" and "how" the family factor results in the family division. It points out that the corresponding strategic concept of family division is the corporate divestment, which is determined by the ownership costs including the monitoring costs, the risk-taking costs and the group decision-making costs. Furthermore, family social capital like family authority and family credit decides the level of the ownership costs. So the family social capital corresponds to the family business divestment. To prove this relationship, the paper chooses Zongshen Motorcycle, Hope Group and Suning Enterprise to make a multi-case comparative analysis. The results provide a new theoretical basis for the set of family business property rights system.%针对家族因素如何导致家族企业分家的问题,建立理论框架:家族企业分家所对应的战略概念是企业分拆,是企业产权的再配置.决定家族企业产权结构的重要因素是监控成本、风险承担成本和集体决策成本等构成的所有权成本.由于家族权威、家族信任等家族社会资本条件影响着家族企业所有权成本,由此,也影响着家族企业分拆模式.就此对宗申摩托、希望集团、苏宁企业等兄弟创业型企业进行了多案例比较分析,分析结果为家族企业产权制度安排提供了新的理论依据.

  8. 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....

  9. 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...

  10. 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....

  11. 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...... and the 1% of the World population will control 95% of all wealth in the World....

  12. 76 FR 38669 - Submission for OMB Review; Comment Request; Food Reporting Comparison Study (FORCS) and Food and...

    Science.gov (United States)

    2011-07-01

    ... previously, ``24-Hour Dietary Recall Method Comparison and the National Cancer Institute (NCI) Observational... computerized Automated Self- Administered 24-Hour Recall (ASA24) approach to collecting 24-hour recall (24HR... data collection period with a total cost to the respondents $54,293. There are no Capital...

  13. 76 FR 35351 - Capital Plans

    Science.gov (United States)

    2011-06-17

    ..., many bank holding companies made significant distributions of capital, in the form of stock repurchases... Act may result in additional limitations on a company's capital distributions than the prior notice... bank holding company's consolidated capital. A capital distribution would be defined as a redemption...

  14. Heuristic Portfolio Trading Rules with Capital Gain Taxes

    DEFF Research Database (Denmark)

    Fischer, Marcel; Gallmeyer, Michael

    We study the out-of-sample performance of portfolio trading strategies when an investor faces capital gain taxation and proportional transaction costs. Under no capital gain taxation and no transaction costs, we show that, consistent with DeMiguel, Garlappi, and Uppal (2009), a simple 1/N trading...... strategy is not dominated out-of-sample by a variety of optimizing trading strategies, except the parametric portfolios of Brandt, Santa-Clara, and Valkanov (2009). With dividend and realization-based capital gain taxes, the welfare costs of the taxes are large with the cost being as large as 30% of wealth...... in some cases. Overlaying simple tax trading heuristics on these trading strategies improves out-of-sample performance. In particular, the 1/N trading strategy's welfare gains improve when a variety of tax trading heuristics are also imposed. For medium to large transaction costs, no trading strategy can...

  15. Human Capital and Economic Growth - How Strong is the Nexus?

    Directory of Open Access Journals (Sweden)

    Marinko Škare

    2016-08-01

    Full Text Available The link between human capital and economic growth still remains unexplained because of the measurement issues connected to the human capital stock. This study investigates the link between human capital stock and economic growth using inclusive wealth index and ratio of engaged to actively disengaged employees as proxy for human capital stock. Data from the global workplace and inclusive wealth reports are used in order to provide an international comparison of the link between human capital and inclusive wealth. Cross country comparison show human capital largerly contribute to the inclusive wealth formation. Formal education is important but also motivating working environment is needed to achieve sustainable economic growth. The finding further indicates that standard human capital growth model should be revised taking into the account variables addressing sustainable growth (not just growth and environmental variables (work conditions affecting human capital stock. Countries encouraging investments in the development of individuals both through formal education and inspiring work environments achieve higher sustainable economic growth

  16. The Role of Capital Productivity in British Airways' Financial Recovery

    Science.gov (United States)

    Morrell, Peter

    1999-01-01

    British Airways (BA) was privatised in 1987, but its financial recovery occurred a number of years earlier. This recovery was sustained throughout the early 1990s economic recession, a period when few major airlines were operating profitably. This paper examines the role of productivity developments at British Airways from the early 1980s through 1996. The emphasis is on capital productivity and investment, but changes in capital intensity and labour productivity are also evaluated. Various measures are considered for both capital and labour productivity: outputs are measured in available tonne-kms (ATKS) and revenue tonne-kms (RTKs), with the former preferred over the latter two measures, after adjustment for work performed by BA for others. Capital inputs are measured in equivalent lease costs adjusted to constant prices with a different treatment of flight and ground equipment or assets. Labour inputs are derived from total payroll costs deflated by a UK wage price index. The airline made considerable capital investments over the period and at the same time went through two major processes of labour restructuring. This resulted in a gradual increase in capital intensity, relative high labour productivity growth, but poor capital productivity performance. However, capital investment played an important role in the airline's sustained labour and total factor productivity over the whole period.

  17. A LONGITUDINAL ANALYSIS OF INTELLECTUAL CAPITAL

    Directory of Open Access Journals (Sweden)

    Ienciu Nicoleta Maria

    2012-07-01

    Full Text Available The term intellectual capital has been appeared recently in economy being debated in literature since 90s playing an important role in the economic activity of an entity of nowadays. The emerging of the "new economy”, mainly driven by information and knowledge, has been identified by the Organisation for Economic Cooperation and Development as the explanation lying at the base of the development of intellectual capital, a fundamental topic in business (Hornery, 1999. One way or another, intellectual capital plays a significant role in the economic, administrative, technological and social development of contemporary times, being difficult to quantify. Many researchers avoid defining intellectual capital, but consider it the basic value of an entity, as it contains non-financial and related information (Amir and Lev, 1996; Edvinsson and Malone, 1997; Stewart, 1997; Bontis, 2001. The purpose of our paper is to highlights the contributions of researchers in the field of intellectual capital as far as the published articles in the high quality journals are concerned. Our paper presents a quantitative research by performing, on one side, a content analysis of the prestigious international journals which include papers related to intellectual capital and, on the other side, a content analysis of those articles. The originality of the present article is represented by the personal contribution to the stage of knowledge in the field of intellectual capital by means of analyzing already existent researches in the field. The results of our analysis, demonstrate that the studies conducted until now are very few by comparison to the number it should have existed until now in the literature, which demonstrates that this field of research is still at its early stage.

  18. A Danish cost-effectiveness model of escitalopram in comparison with citalopram and venlafaxine as first-line treatments for major depressive disorder in primary care.

    Science.gov (United States)

    Sørensen, Jan; Stage, Kurt B; Damsbo, Niels; Le Lay, Agathe; Hemels, Michiel E

    2007-01-01

    The objective of this study was to model the cost-effectiveness of escitalopram in comparison with generic citalopram and venlafaxine in primary care treatment of major depressive disorder (baseline scores 22-40 on the Montgomery-Asberg Depression Rating Scale, MADRS) in Denmark. A three-path decision analytic model with a 6-month horizon was used. All patients started at the primary care path and were referred to outpatient or inpatient secondary care in the case of insufficient response to treatment. Model inputs included drug-specific probabilities derived from systematic literature review, ad-hoc survey and expert opinion. Main outcome measures were remission defined as MADRS escitalopram (64.1%) than citalopram (58.9%). From both perspectives, the total expected cost per successfully treated patient was lower for escitalopram (DKK 22,323 healthcare, DKK 72,399 societal) than for citalopram (DKK 25,778 healthcare, DKK 87,786 societal). Remission rates and costs were similar for escitalopram and venlafaxine. Robustness of the findings was verified in multivariate sensitivity analyses. For patients in primary care, escitalopram appears to be a cost-effective alternative to (generic) citalopram, with greater clinical benefit and cost-savings, and similar in cost-effectiveness to venlafaxine.

  19. 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...

  20. 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...

  1. A comparison of response cost and differential reinforcement of other behavior to reduce disruptive behavior in a preschool classroom.

    Science.gov (United States)

    Conyers, Carole; Miltenberger, Raymond; Maki, Amber; Barenz, Rebecca; Jurgens, Mandy; Sailer, Angela; Haugen, Meredith; Kopp, Brandon

    2004-01-01

    This study investigated the effectiveness of response cost and differential reinforcement of other behavior (DRO) in reducing the disruptive behaviors of 25 children in a preschool classroom. Using an alternating treatments design, disruptive behavior was reduced when the participants earned tokens for the absence of disruptive behavior (DRO) or lost tokens for the occurrence of disruptive behavior (response cost). Initially, DRO was more successful in reducing the number of disruptive behaviors; however, over time, response cost proved to be more effective.

  2. Comparison of ORNL Low Cost Carbon Fiber with Commercially Available Industrial Grade Carbon Fiber in Pultrusion Samples

    Energy Technology Data Exchange (ETDEWEB)

    Norris, Jr, Robert E. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); McCay, Jeff A. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Jackson, Connie D. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2016-02-01

    Composite Applications Group LLC in collaboration with Heil Trailer International partnered in a project to design and develop solutions for light weighting of aluminum dry bulk tank trailers. The project approach was to utilize pultruded composite sections in place of aluminum components to reduce weight thereby saving energy through more efficient transport. Low cost carbon fiber was evaluated as a potential cost saving option that could enhance weight savings at reduced cost versus current commercial material.

  3. Estimation of the external cost of energy production based on fossil fuels in Finland and a comparison with estimates of external costs of wind power

    Energy Technology Data Exchange (ETDEWEB)

    Otterstroem, T. [Ekono Energy Ltd, Helsinki (Finland)

    1995-12-31

    Ekono Energy Ltd. and Soil and Water Ltd. participated in 1993 - 1994 in the SIHTI 2 research programme of the Ministry of Trade and Industry by carrying out the project `Estimation of the extremal cost of energy production in Finland`. The aim of the survey was to assess the external costs of Finnish energy production which are incurred by the environmental impacts of emissions during the life cycles of fossil fuels. To this end, the survey studied the environmental impacts of emissions on a local level (population centres), on a national level (Finland) and on a global level. The main target was to develop a method for calculating the economic value of these impacts. The method was applied to the emissions in 1990. During the survey, the main emphasis was put on developing and applying indirect valuation methods. An indirect method proceeds through dose-response functions. The dose-response function links a certain emission quantity, concentration or deposition to the extent or intensity of the effect. When quantitative data on hazards is available, it is possible to carry out monetary valuation by means of market prices or people`s otherwise expressed willingness to pay (WTP). Monetary valuation includes many uncertainty factors, of which the most significant with regard to this study are the transferability of dose-response functions and willingness-to-pay values from different kinds of conditions, additivity of damage values, uncertainty factors and problems related to discounting

  4. 78 FR 62417 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-10-22

    ... Part 324 RIN 3064-AD95 Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy, Transition Provisions, Prompt Corrective Action, Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule,...

  5. Cost-Effectiveness of Zoledronic Acid to Prevent and Treat Postmenopausal Osteoporosis in Comparison with Routine Medical Treatment

    Science.gov (United States)

    Golmohamdi, Fateme Rostami; Abbasi, Mahnaz; Karyani, Ali Kazemi; Sari, Ali Akbari

    2016-01-01

    Introduction Fractures caused by osteoporosis are prevalent among elderly females, which reduce quality of life significantly. This study aimed at comparing cost-effectiveness of Zoledronic acid in preventing and treating post-menopause osteoporosis as compared with routine medical treatment. Methods This cost-effectiveness study was carried out retrospectively from the Ministry of Health and insurance organizations perspective. Costs were evaluated based on the cost estimation of a sample of patients. Outcomes were obtained from a systematic review. The Cost-Effectiveness Ratio (CER) and incremental cost-effectiveness ratio (ICER) for outcome of femoral neck Bone Mineral Density (BMD), hip trochanter BMD, total hip BMD and lumbar spine BMD and cost-benefit of consuming Zoledronic Acid were calculated for fracture outcome obtained from reviewing hospital records. Results The results and the ICER calculated for study outcomes indicated that one percent increase of BMD on femoral neck BMD requires further cost of $386. One percent increase of BMD on hip trochanter BMD requires further cost of $264. One percent increase of BMD on total hip BMD requires further cost of $388, one percent increase of BMD on lumbar spine BMD requires further cost of $347. The Cost Benefit Analysis (CBA) calculated for vertebral and hip fracture, non-vertebral fracture, any clinical fracture, and morphometric fracture for a 36-month period were about 0.82, 0.57, and 1.06, respectively. Vertebral and hip fractures, and non-vertebral fractures or any clinical fracture for a 12-month period were calculated as 1.14 and 0.64, respectively. In other words, Zoledronic acid consumption approach is a cheaper and better approach based on an economic assessment, and it can be considered as a dominant approach. Conclusion According to the cost-effectiveness of zoledronic acid in the prevention and treatment of osteoporosis in women, despite the costs, it is recommended that insurance coverage for the

  6. 财务报告信息质量、风险与权益资本成本--来自我国沪深股市的经验证据%Fi nancial Report Informaiton Quality, Risk and Equity Capital Cost:Empirical Evidence from Sh anghai and Shenzhen Stock Market in China

    Institute of Scientific and Technical Information of China (English)

    冯阳

    2015-01-01

    This paper examines the relationship ancong financial reporting quality, corporate information risk and equity capital cost taking the listed companies in Chinese Shanghai and Shenzhen stock markets from 2007 to 2013 as a sample.The results indicate that financial reporting quality is not a systematic risk factor investors need to price, but rather an unsystematic one.Although financial reporting quality reflects uncertainties of the information risk, corporate idiosyncratic risk has not been priced by investors, and does not increase the corporate equity capital cost.%本文以我国沪深股市2007—2013年上市公司为研究对象,检验了财务报告质量、公司信息风险与权益资本成本之间的关系。研究结果表明,财务报告质量并不是投资者需要定价的系统风险因素,而是一种非系统性风险。尽管财务报告质量反映了信息风险的不确定性,但这种公司特定的信息风险并没有被投资者定价,它并不会提高公司的权益资本成本。

  7. SOCIAL CAPITAL FRAMEWORK AND ITS INFLUENCE ON THE ENTREPRENEURIAL ACTIVITY

    Directory of Open Access Journals (Sweden)

    Badea Mihaela-Raluca

    2013-07-01

    Full Text Available The aim of this article is to understand the theoretical framework of the social capital concept, based on different approaches identified in the literature and highlight the direct influence social capital has on the entrepreneurial personality characteristics of individuals and organizations. The objectives of the paper focus first on conceptualizing the notion of social capital, by acknowledging the social capital structure and components in the acceptation of the most popular scholars in the research field, the sources of social capital and its role in building social economy; further on, the article explores the influence of social capital in the creation of innovation and economic growth, its dimensions in the entrepreneurial process and the definition of the instruments of measurement, including indicators of trust-generalized and institutional, number of social networks, associational activities-passive and active membership and civic norms. The paper gathers some of the outcomes of different researches conducted in the literature with respect to the positive relationship between social capital dimensions and entrepreneurship, through attracting the right potential of human capital and the required level of financial capital, reducing the transaction costs, identifying new market opportunities and leveraging the social networks, transfer and knowledge overflow and information channels, enabling the launch and the survival of business venture and help gain competitive advantage that would ensure sustainability and success. The case studies referenced in this article use various approaches of highlighting the social capital as a key enabler and not necessarily a generator of entrepreneurial activity, by analyzing the likelihood to launch new ventures based on the interactions with key partners and exchange of information, the sustainability and success of a start up or push/pull factors that determine an entrepreneur to enter the new

  8. A Comparison of Web-Based and Paper-Based Survey Methods: Testing Assumptions of Survey Mode and Response Cost

    Science.gov (United States)

    Greenlaw, Corey; Brown-Welty, Sharon

    2009-01-01

    Web-based surveys have become more prevalent in areas such as evaluation, research, and marketing research to name a few. The proliferation of these online surveys raises the question, how do response rates compare with traditional surveys and at what cost? This research explored response rates and costs for Web-based surveys, paper surveys, and…

  9. Depressão, aspectos emocionais e sociais na vivência do aborto: comparação entre duas capitais Brasileiras Depression, emotional and social aspects in the abortion context: a comparison between two brazilian capitals

    Directory of Open Access Journals (Sweden)

    Roseli Mieko Yamamoto Nomura

    2011-12-01

    o Paulo 23.3%; p = 0.447. The partner's involvement was considered satisfactory by women in similar proportions in the two capitals (Natal 62.0%; São Paulo 59.0%, p = 0.576. No difference was found in the proportion of women who reported violence, related or not to the abortion (Natal 22.9%; São Paulo 16.6%; p = 0.378. CONCLUSION: Although there was no difference between the emotional and social aspects in the comparison between the two capitals, there was a high proportion of women with major depression, more frequent in the city of Natal than in São Paulo, which demonstrates the importance of psychosocial support in the women's healthcare system.

  10. How much electricity really costs. Comparison of the state subsidisation and overall social costs of conventional and renewable energy resources; Was Strom wirklich kostet. Vergleich der staatlichen Foerderungen und gesamtgesellschaftlichen Kosten konventioneller und erneuerbarer Energien

    Energy Technology Data Exchange (ETDEWEB)

    Kuechler, Swantje; Meyer, Bettina

    2012-07-01

    This study explains how the costs of electricity are an aggregate of different components. The electricity price paid by the end consumer contains not only the actual costs of energy production, which make up only about a third of the actual price in an average household, but also different surcharges such as network charges, electricity tax, value added tax and the concession levy. It furthermore contains the allocation charge stipulated by the Renewable Energy Law (EEG reallocation charge) as a means of allocating the costs of the subsidisation of electricity from renewable resources to the consumers. On the other hand conventional energy resources such as nuclear energy, hard coal and brown coal have substantially benefited over many decades from state subsidies in the form of financial aids, tax rebates and other promotive measures. The main difference between this and the subsidisation of renewable energy is that the costs of conventional energy resources are largely charged to the state budget rather than being made transparent in the electricity price. Based on an evaluation of the literature, data, interviews and the authors' own methodological deliberations this study makes a systematic comparison of the direct as well as indirect state subsidisation of renewable and conventional energy resources during the period from 1970 until 2012. The annual totals obtained for each energy resources are then set in relation to the share of that resource in overall electricity production, yielding specific subsidisation rates in terms of cents per kWh for each resource. This does not yet take into account the high consequential costs in the form of environmental damage and climate-related damage caused by fossil and nuclear fuels as well as the risks associated with the latter (collectively referred to as ''external costs''), all of which are charged to the polluters only at a small fraction of the true amount. The two cost categories of state

  11. Human Capital and Optimal Positive Taxation of Capital Income

    OpenAIRE

    Jacobs, B.; Bovenberg, A.L.

    2005-01-01

    This paper analyzes optimal linear taxes on capital and labor incomes in a life-cyclemodel 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 onlylabor income but also capital income is optimal. The positive tax on capital incomeserves to alleviate the distortions of the labor tax on human capital accumulation.The optimal marginal tax rate on capital income is lower than that on labor inco...

  12. Capital Expert System

    Science.gov (United States)

    Dowell, Laurie; Gary, Jack; Illingworth, Bill; Sargent, Tom

    1987-05-01

    Gathering information, necessary forms, and financial calculations needed to generate a "capital investment proposal" is an extremely complex and difficult process. The intent of the capital investment proposal is to ensure management that the proposed investment has been thoroughly investigated and will have a positive impact on corporate goals. Meeting this requirement typically takes four or five experts a total of 12 hours to generate a "Capital Package." A Capital Expert System was therefore developed using "Personal Consultant." The completed system is hybrid and as such does not depend solely on rules but incorporates several different software packages that communicate through variables and functions passed from one to another. This paper describes the use of expert system techniques, methodology in building the knowledge base, contexts, LISP functions, data base, and special challenges that had to be overcome to create this system. The Capital Expert System is the successful result of a unique integration of artificial intelligence with business accounting, financial forms generation, and investment proposal expertise.

  13. Organizational networks and social capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Waldstrøm, Christian

    2013-01-01

    This chapter presents a framework for understanding organizational networks and social capital through the lens of “social capital ownership” as well as the private and collective goods provided through this ownership. More specifically, it argues that ownership of social capital in organizations...... is closely connected to four types of social capital – two belonging to the bridging social capital type, and two belonging to the bonding social capital type. The chapter first reviews literature on organizational social capital and then directly focuses on ownership of social capital in organizations......, as well as the derived benefits, or losses. Next, the chapter presents an empirical case apt to illustrate the theoretical findings in part one, namely the nineteenth-century Danish Cooperative Dairy Movement (Svendsen and Svendsen 2004). It is demonstrated how social capital among Danish peasants...

  14. The Technique, Resources and Costs of Stereotactic Body Radiotherapy of Prostate Cancer: A Comparison of Dose Regimens and Delivery Systems.

    Science.gov (United States)

    Sharieff, Waseem; Greenspoon, Jeffrey N; Dayes, Ian; Chow, Tom; Wright, James; Lukka, Himu

    2016-02-01

    Robotic system has been used for stereotactic body radiotherapy (SBRT) of prostate cancer. Arc-based and fixed-gantry systems are used for hypofractionated regimens (10-20 fractions) and the standard regimen (39 fractions); they may also be used to deliver SBRT. Studies are currently underway to compare efficacy and safety of these systems and regimens. Thus, we describe the technique and required resources for the provision of robotic SBRT in relation to the standard regimen and other systems to guide investment decisions. Using administrative data of resource volumes and unit prices, we computed the cost per patient, cost per cure and cost per quality adjusted life year (QALY) of four regimens (5, 12, 20 and 39 fractions) and three delivery systems (robotic, arc-based and fixed-gantry) from a payer's perspective. We performed sensitivity analyses to examine the effects of daily hours of operation and in-room treatment delivery times on cost per patient. In addition, we estimated the budget impact when a robotic system is preferred over an arc-based or fixed-gantry system. Costs of SBRT were $6333/patient (robotic), $4368/patient (arc-based) and $4443/patient (fixed-gantry). When daily hours of operation were varied, the cost of robotic SBRT varied from $9324/patient (2 hours daily) to $5250/patient (10 hours daily). This was comparable to the costs of 39 fraction standard regimen which were $5935/patient (arc-based) and $7992/ patient (fixed-gantry). In settings of moderate to high patient volume, robotic SBRT is cost effective compared to the standard regimen. If SBRT can be delivered with equivalent efficacy and safety, the arc-based system would be the most cost effective system.

  15. Life cycle assessment of capital goods related to waste incineration

    DEFF Research Database (Denmark)

    Brogaard, Line Kai-Sørensen; Christensen, Thomas Højlund

    2011-01-01

    The environmental impacts from the life cycle of products and systems were evaluated using Life Cycle Assessment (LCA) as a tool. Today most LCAs of waste management systems only considers the impacts from the operation of the system but neglects the environmental impacts from construction......, maintenance and demolition of capital goods. Capital goods are defined as buildings, machinery, trucks and infrastructure at the facility. A LCA was performed using two modelling programmes: Simapro and EASEWASTE. This paper assesses the importance of including capital goods when performing LCAs of waste...... incineration with efficient energy recovery. The environmental costs of the capital goods related to an incinerator was assessed and compared to the operation of the incinerator. The environmental loads from the capital goods were found to be insignificant compared to the benefits from the energy recovery from...

  16. Effectiveness and Effects of China's Capital Controls

    Institute of Scientific and Technical Information of China (English)

    FengjuanXiao; DonaldKimball

    2005-01-01

    Reductions in barriers to global trade have not been accompanied by a widespread loosening of restrictions on international flows of capital, especially in China. This study shows that China has some of the most restrictive controls and uses them effectively to bias flows of cross-border capital heavily in favor of foreign direct investment (FDI) and limit flows of portfolio and bank assets and liabilities, as well as reducing capital flow volatility. China is now facing pressure to speed up its opening to all forms of cross border capital. But since China is still struggling to strengthen its domestic financial structure, capital account liberalization would expose it to considerable risks and potentially high costs.

  17. Measuring cost efficiency in the Nordic hospitals--a cross-sectional comparison of public hospitals in 2002

    DEFF Research Database (Denmark)

    Linna, Miika; Häkkinen, Unto; Peltola, Mikko

    2010-01-01

    The aim of this study was to compare the performance of hospital care in four Nordic countries: Norway, Finland, Sweden and Denmark. Using national discharge registries and cost data from hospitals, cost efficiency in the production of somatic hospital care was calculated for public hospitals. Data......, average efficiency was markedly higher in Finland compared to Norway and Sweden. This study found differences in cost efficiency that cannot be explained by input prices or differences in coding practices. More analysis is needed to reveal the causes of large efficiency disparities between Nordic...

  18. The Effect of Management Entrenchment on the Equity Capital in Iran

    Directory of Open Access Journals (Sweden)

    Somayeh Baratiyan

    2013-05-01

    Full Text Available Managerial Entrenchment means that management control a significant portion of the equity in the firm and his/her actions is inconsistent with maximizing aim of the Institute. This research examined the impact of managerial entrenchment on cost of capital stock by analyzing of changes in levels. The present paper examines the relationship between managerial entrenchment, Systematic risk, rate of sales growth, the ratio of CEO and the cost of capital stock. Thus, 55 listed companies were analyzed during 2006-2010. The results indicate there is a significant relationship between the difference of managerial entrenchment period and cost of capital stock period and also significant relationship exists between rate of long sales growth, the ratio of CEO and the cost of capital stock, whereas, there is not significant relation between systematic risk and cost of capital stock.

  19. Comparison of alterations in frequency and cost of antibiotic use in neonatal and pediatric intensive care units of a hospital following protocol to an education and research hospital

    Directory of Open Access Journals (Sweden)

    Mustafa Dogan

    2015-04-01

    Full Text Available AiM: The objective of this study is to show the alterations in frequency and cost of antibiotic use in neonatal and pediatric intensive care units of a state hospital after it started to service as an education and research hospital. We also aimed to raise an awareness related to rational antibiotic use. METHODS: The surveillance of antibiotic use and comparison of costs were evaluated in 392 patients in between August 2013-January 2014. The rate and cost of antibiotic use during last 90 days before the protocol of state hospital to research and education hospital and the first 90 days after protocol were evaluated. Antibiotics were assessed according to the treatment protocols of the Committee of Rational Drug Use, Infection Control Committee and Antibiotic Control Committee. Antibiotics were provided from administrative system and the data related to costs were obtained from Ministry of Health and Ministry of Finance. The demographic data and the data related to indication for admission to intensive care units, antibiotic dosages and pathogens causing infections were also obtained. For statistical analysis, SPSS program was used and descriptive analysis were made. In comparison of the groups, Mann Whitney U and chi-square tests were used. The data were evaluated within a 95% confidence interval. RESULTS: In first and second period, 143 patients were hospitalized for 3.18+/-1.13 days and 105 patients were hospitalized for 2.69+/-4.14 days in pediatric intensive care unit(PICU; 79 patients were hospitalized for 17.29+/-3.61 days and 65 patients stayed for 21.29+/-3.29 days in neonatal intensive care unit(NICU, respectively. In the first and second period, cost of antibiotics in PICU was found 341.81+/-744.49 (med:14.91 and 585.35+/-796.62 (med:256.44 (p=0.02 Turkish Liras (TL; in NICU 137.92+/-178.78 (med:14.59 and 247.40+/-370.13(med:19.23 (p=0.76 TL respectively. CONCLUSiON: In the second period, in PICU, duration of hospitalization was found

  20. Reducing Lifecycle Sustainment Costs

    Science.gov (United States)

    2015-05-01

    funding is not allocated for its implementation .  Technology Refresh often requires non-recurring engineering investment, but the Working Capital Funds...Enterprise Resource Planning ( ERP ) systems • Industry • Government • Keys to Achieving O&S Cost Reduction Agenda 6 O&S Cost Estimating...policy and conducts oversight – Military departments are allowed considerable latitude in implementation • Army: OSMIS • Navy: Navy VAMOSC • Air

  1. A comparison of response cost and differential reinforcement of other behavior to reduce disruptive behavior in a preschool classroom.

    OpenAIRE

    Conyers, Carole; Miltenberger, Raymond; Maki, Amber; Barenz, Rebecca; Jurgens, Mandy; Sailer, Angela; Haugen, Meredith; Kopp, Brandon

    2004-01-01

    This study investigated the effectiveness of response cost and differential reinforcement of other behavior (DRO) in reducing the disruptive behaviors of 25 children in a preschool classroom. Using an alternating treatments design, disruptive behavior was reduced when the participants earned tokens for the absence of disruptive behavior (DRO) or lost tokens for the occurrence of disruptive behavior (response cost). Initially, DRO was more successful in reducing the number of disruptive behavi...

  2. Retrospective cost comparison of chiropractic versus medical treatment of back pain in a typical South African mechanised underground mining environment

    OpenAIRE

    2010-01-01

    M. Tech. It is well known internationally that the high prevalence of back pain costs the economies of the world many billions of dollars annually. This has prompted a great deal of research abroad into means of reducing the deleterious economic effects of back pain. One of the results of this research is the realisation that Chiropractic treatment of back pain offers an efficacious and cost effective alternative to the conventional medical treatments currently employed in most countries. ...

  3. Ripple effects of reform on capital financing.

    Science.gov (United States)

    Arduino, Kelly

    2014-05-01

    Healthcare leaders should inventory and quantify the capital initiatives deemed critical for success under changing business models. Key considerations in planning such initiatives are opportunity costs and potential impact on productivity. Senior leaders also should create rolling five-year estimates of expenditures in addition to a one-year budget. Approaches to paying for such initiatives include borrowing from cash reserves, partnering to share cash and other resources, and developing new revenue sources derived from the initiatives themselves.

  4. The Capital Intensity of Photovoltaics Manufacturing

    Energy Technology Data Exchange (ETDEWEB)

    Basore, Paul

    2015-10-19

    Factory capital expenditure (capex) for photovoltaic (PV) module manufacturing strongly influences the per-unit cost of a c-Si module. This provides a significant opportunity to address the U.S. DOE SunShot module price target through capex innovation. Innovation options to reduce the capex of PV manufacturing include incremental and disruptive process innovation with c-Si, platform innovations, and financial approaches. and financial approaches.

  5. Cost comparison of 2 mass vaccination campaigns against influenza A H1N1 in New York City.

    Science.gov (United States)

    Kansagra, Susan M; McGinty, Meghan D; Morgenthau, Beth Maldin; Marquez, Monica L; Rosselli-Fraschilla, Annmarie; Zucker, Jane R; Farley, Thomas A

    2012-07-01

    Objectives. We estimated and compared total costs and costs per dose administered for 2 influenza A 2009 monovalent vaccine campaigns in New York City: an elementary school-located campaign targeting enrolled children aged 4 years and older, and a community-based points-of-dispensing campaign for anyone aged 4 years and older. Methods. We determined costs from invoices or we estimated costs. We obtained vaccination data from the Citywide Immunization Registry and reports from the community points of dispensing. Results. The school campaign delivered approximately 202,089 vaccines for $17.9 million and $88 per dose. The community campaign delivered 49,986 vaccines for $7.6 million and $151 per dose. At projected capacity, the school campaign could have delivered 371,827 doses at $53 each or $13 each when we excluded the value of in-kind resources. The community points of dispensing could have administered 174,000 doses at $51 each or $24 each when we excluded the value of in-kind resources. Conclusions. The school campaign delivered vaccines at a lower cost per dose than did the community campaign. Had demand been higher, both campaigns may have delivered vaccine at lower, more comparable cost per dose.

  6. 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.

  7. Updating cultural capital theory

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

    2011-01-01

    of ‘‘highbrow’’ culture, cultural oppositions can nonetheless readily be detected. We point to nine oppositions, mostly shared between the nations. Three tensions between (a) participation and non-participation in cultural activities; (b) knowledge and ignorance in cultural issues (such as for music, literature...... than absolute terms, and that a field analytic perspective provides the means of understanding cultural capital as such a relative entity. Second, the move from the empirical observation of oppositions to the conceptualisation of cultural capital also demands that the functioning of features...

  8. Contabilidad del capital intelectual

    OpenAIRE

    2007-01-01

    El capital intelectual es un valor intangible que debe incorporarse a los estados financieros, como parte de la generación de valor de todos los trabajadores de una organización. Existen algunos modelos que permiten cuantificarlo, aunque es preciso reconocer que debemos ahondar con más precisión con el objeto de contar con un mayor número de adeptos a esta importante referencia. The intellectual capital is an intangible value that should incorporate to the financial states, like part of t...

  9. The Assesment of Intellectual Capital in Romanian Universities

    Directory of Open Access Journals (Sweden)

    Todericiu Ramona

    2015-12-01

    Full Text Available The aim of this article is to systematize the types of intellectual capital indicators that can be assessed in order to understand and further use the information for strategic development. Also, the study underlines the importance of intellectual capital in the new modern, knowledge-based economy. Different research methods are used in the article, such as scientific literature analysis, synthesis and comparison.

  10. Reason Why Market Timing Effect Have Few Persistent Influence on Capital Structure:An Empirical Study From on Perspective of Debt Cost%市场时机效应难以对资本结构产生持久性影响的原因——基于债务成本视角的实证研究

    Institute of Scientific and Technical Information of China (English)

    潘敏; 朱迪星; 熊文静

    2011-01-01

    This paper puts forward one channel through which investor's sentiment affects the choicing of capital structure,that is price deviation would influence creditor's expectation,and then influence the cost of debt and financing constraints, and finally influence manager's financing decision. Through the empirical test based on the financial data of listed companies in China during 1999-2008, it draws the following conclusions: investor's sentiment considerably affects the cost of debt of listed companies;in the assumption that investors are not rational, through combining the influence of investor's sentiment on debt cost with the market timing theory,the experienced data of long-term capital structure decision of listed companies can be explained.%提出投资者情绪影响资本结构选择的一条渠道,即价格偏离会造成企业债权人预期变化,进而影响债务成本、融资约束,最终改变经理人的融资决策.应用我国上市公司1999-2008年的财务数据进行横截面实证检验.结果表明:市场情绪在很大程度影响上市公司的债务融资成本;在投资者非理性假设下,考虑市场情绪对债务成本的影响并结合市场时机理论才能解释上市公司的长期资本结构选择的经验数据.

  11. Capital Market Implications of Corporate Disclosure: German Evidence

    Directory of Open Access Journals (Sweden)

    Michael Grüning

    2011-04-01

    Full Text Available This paper investigates the relationship between annual report disclosure, market liquidity, and capital cost for firms registered on the Deutsche Börse. Disclosure is comprehensively measured using the innovative Artificial Intelligence Measurement of Disclosure (AIMD. Results show that annual report disclosure enhances market liquidity by changing investors’ expectations and inducing portfolio adjustments. Trading frictions are negatively associated with disclosure. The study provides evidence for a capital-costreduction effect of disclosure based on the analysis of investors’ return requirements and market values. Altogether, no evidence is found that the information processing at the German capital market is structurally different from other markets.

  12. Venture Capital Investment Base on Grey Relational Theory

    Science.gov (United States)

    Zhang, Xubo

    This paper builds a venture capital investment projects selection evaluation model base on risk-weight investment return using grey relational analysis. The risk and return in venture capital investment projects selection process is analyses. These risk and return mainly constricted in management ability, operation ability, market ability, exit obtain and investment cost. The 18 sub-indicators are the impact factors contributed to these five evaluation aspects. Grey relation analysis is use to evaluate the venture capital investment selection. Get the optimal solution of risk-weight double objective investment selection evaluation model. An example is used to demonstrate the model in this paper.

  13. The analysis of capital structure of Chinese real estate listed companies

    Institute of Scientific and Technical Information of China (English)

    LI Peng-yan; LUO Qing-sheng; AO Li-feng

    2005-01-01

    Capital structure is the basis for assessing the efficiency of enterprise financing activity. The rational capital structure could reduce the cost of capital and plays an important role in managing a company. Thus this paper, based on the real estate listed companies on Shenzhen and Shanghai stock markets, analyzes the factors which influence capital structure, such as profitability, size, collateral value of assets, growth, stockholder's equity, concentration degree of control power, ownership attribute, and applied statistics tools used to help the real estate listed companies optimize the structure of capital.

  14. 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 confide

  15. 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 inco

  16. Capital Investment by Independent and System-Affiliated Hospitals

    Directory of Open Access Journals (Sweden)

    Nathan W. Carroll PhD

    2015-06-01

    Full Text Available Capital expenditures are a critical part of hospitals’ efforts to maintain quality of patient care and financial stability. Over the past 20 years, finding capital to fund these expenditures has become increasingly challenging for hospitals, particularly independent hospitals. Independent hospitals struggling to find ways to fund necessary capital investment are often advised that their best strategy is to join a multi-hospital system. There is scant empirical evidence to support the idea that system membership improves independent hospitals’ ability to make capital expenditures. Using data from the American Hospital Association and Medicare Cost Reports, we use difference-in-difference methods to examine changes in capital expenditures for independent hospitals that joined multi-hospital systems between 1997 and 2008. We find that in the first 5 years after acquisition, capital expenditures increase by an average of almost $16 000 per bed annually, as compared with non-acquired hospitals. In later years, the difference in capital expenditure is smaller and not statistically significant. Our results do not suggest that increases in capital expenditures vary by asset age or the size of the acquiring system.

  17. Capital Investment by Independent and System-Affiliated Hospitals.

    Science.gov (United States)

    Carroll, Nathan W; Smith, Dean G; Wheeler, John R C

    2015-01-01

    Capital expenditures are a critical part of hospitals' efforts to maintain quality of patient care and financial stability. Over the past 20 years, finding capital to fund these expenditures has become increasingly challenging for hospitals, particularly independent hospitals. Independent hospitals struggling to find ways to fund necessary capital investment are often advised that their best strategy is to join a multi-hospital system. There is scant empirical evidence to support the idea that system membership improves independent hospitals' ability to make capital expenditures. Using data from the American Hospital Association and Medicare Cost Reports, we use difference-in-difference methods to examine changes in capital expenditures for independent hospitals that joined multi-hospital systems between 1997 and 2008. We find that in the first 5 years after acquisition, capital expenditures increase by an average of almost $16,000 per bed annually, as compared with non-acquired hospitals. In later years, the difference in capital expenditure is smaller and not statistically significant. Our results do not suggest that increases in capital expenditures vary by asset age or the size of the acquiring system.

  18. Analysis of costs and scarce fuel savings associated with nine Eastern and North Central center city conversions to a district energy system

    Energy Technology Data Exchange (ETDEWEB)

    Davis, A.A.; Santini, D.J.; Marder, S.M.; Bernow, S.S.

    1979-02-01

    This study considers the major urbanized areas of nine US cities to arrive at rough estimates of costs required to retrofit them with district energy systems (DES). Only those costs associated with heating and hot water are addressed here. Demand estimates and energy-supply analyses are made, and component capital costs are estimated to arrive at annualized system costs. Finally, a comparison of alternative energy-delivery options is made, and estimates of scarce-fuel savings are derived. 49 references, 20 figures, 14 tables.

  19. Treatment of osteoid osteoma using CT-guided radiofrequency ablation versus MR-guided laser ablation: A cost comparison

    Energy Technology Data Exchange (ETDEWEB)

    Maurer, M.H., E-mail: martin.maurer@charite.de [Charite - Universitaetsmedizin Berlin, Department of Radiology, Augustenburger Platz 1, 13353 Berlin (Germany); Gebauer, B., E-mail: bernhard.gebauer@charite.de [Charite - Universitaetsmedizin Berlin, Department of Radiology, Augustenburger Platz 1, 13353 Berlin (Germany); Wieners, G., E-mail: gero.wieners@charite.de [Charite - Universitaetsmedizin Berlin, Department of Radiology, Augustenburger Platz 1, 13353 Berlin (Germany); De Bucourt, M., E-mail: maximilian.de-bucourt@charite.de [Charite - Universitaetsmedizin Berlin, Department of Radiology, Augustenburger Platz 1, 13353 Berlin (Germany); Renz, D.M., E-mail: diane.renz@charite.de [Charite - Universitaetsmedizin Berlin, Department of Radiology, Augustenburger Platz 1, 13353 Berlin (Germany); Hamm, B., E-mail: bernd.hamm@charite.de [Charite - Universitaetsmedizin Berlin, Department of Radiology, Augustenburger Platz 1, 13353 Berlin (Germany); Streitparth, F., E-mail: florian.streitparth@charite.de [Charite - Universitaetsmedizin Berlin, Department of Radiology, Augustenburger Platz 1, 13353 Berlin (Germany)

    2012-11-15

    Objective: To compare the costs of CT-guided radiofrequency ablation (RFA) and MR-guided laser ablation (LA) for minimally invasive percutaneous treatment of osteoid osteoma. Materials and methods: Between November 2005 and October 2011, 20 patients (14 males, 6 females, mean age 20.3 {+-} 9.1 years) underwent CT-guided RFA and 24 patients (18 males, 6 females; mean age, 23.8 {+-} 13.8 years) MR-guided LA (open 1.0 Tesla, Panorama HFO, Philips, Best, Netherlands) for osteoid osteoma diagnosed on the basis of clinical presentation and imaging findings. Prorated costs of equipment use (purchase, depreciation, and maintenance), staff costs, and expenditure for disposables were identified for CT-guided RFA and MR-guided LA procedures. Results: The average total costs per patient were EUR 1762 for CT-guided RFA and EUR 1417 for MR-guided LA. These were (RFA/LA) EUR 92/260 for equipment use, EUR 149/208 for staff, and EUR 870/300 for disposables. Conclusion: MR-guided LA is less expensive than CT-guided RFA for minimally invasive percutaneous ablation of osteoid osteoma. The higher costs of RFA are primarily due to the higher price of the disposable RFA probes.

  20. Comparison of literature searches on quality and costs for health technology assessment using the MEDLINE and EMBASE databases.

    Science.gov (United States)

    Topfer, L A; Parada, A; Menon, D; Noorani, H; Perras, C; Serra-Prat, M

    1999-01-01

    Biomedical databases are an important source of information for health technology assessment. However, there is considerable variation in the costs of accessing commercial databases. We sought to measure the quality, amount of overlap, and costs of information retrieved from two of the main database sources--MEDLINE and EMBASE. Librarians at two health technology assessment agencies ran a total of eight literature searches on various medical technologies, using both databases. All search results were independently reviewed by two researchers. The researchers were asked to identify relevant references and to rank each of these according to a level of evidence scale. The results were tabulated to show the number of references identified by each database, the number of relevant references ranked by level of evidence, and the number of these references that were unique to one or the other database. The cost of retrieving references from each source was also calculated. Each database contained relevant references not available in the other. Because of the longer time lag for indexing in MEDLINE, many of the references that originally appeared to be unique to EMBASE were subsequently available in MEDLINE as well. Since our study was conducted, MEDLINE has been made available worldwide, free of charge, via the Internet. Hence, the cost difference between the databases is now even greater. However, notwithstanding the costs, it appears that literature searches that rely on only one or the other database will inevitably miss pertinent information.

  1. Manual of phosphoric acid fuel cell power plant cost model and computer program

    Science.gov (United States)

    Lu, C. Y.; Alkasab, K. A.

    1984-01-01

    Cost analysis of phosphoric acid fuel cell power plant includes two parts: a method for estimation of system capital costs, and an economic analysis which determines the levelized annual cost of operating the system used in the capital cost estimation. A FORTRAN computer has been developed for this cost analysis.

  2. Performance comparison of 850-nm and 1550-nm VCSELs exploiting OOK, OFDM, and 4-PAM over SMF/MMF links for low-cost optical interconnects

    DEFF Research Database (Denmark)

    Karinou, Fotini; Deng, Lei; Rodes Lopez, Roberto

    2013-01-01

    -shift keying (QPSK)/16-ary quadrature amplitude modulation (16QAM) with direct detection, over SMF (100m and 5km) and MMF (100m and 1km) short-range links, for their potential application in low-cost rack-to-rack optical interconnects. Moreover, we assess the performance of quaternary-pulse amplitude...... modulation (4-PAM), for the 1550-nm transmitter over SMF and MMF links and we compare it to the data-rate equivalent NRZ-OOK. The extensive performance comparison under various transmission scenarios shows the superiority of 1550-nm single-mode VCSEL compared to its multi-mode 850-nm counterpart. Moreover......, OFDM/DD and 4-PAM in conjunction with low-cost, inexpensive VCSELs as transmitters prove to be an enabling technology for next-generation WDM, point-to-point, short-reach, SMF/MMF optical interconnects and potential candidates to substitute NRZ-OOK. Nevertheless, the sensitivity requirements are higher...

  3. Cost comparison between two modes of Palmaz Schatz coronary stent implantation: transradial bare stent technique vs. transfemoral sheath-protected stent technique.

    Science.gov (United States)

    Kiemeneij, F; Hofland, J; Laarman, G J; van der Elst, D H; van der Lubbe, H

    1995-08-01

    Coronary Palmaz Schatz stent implantation is usually performed by using the sheath protected stent delivery system (SDS) via the percutaneous transfemoral route. However, downsizing of PTCA equipment made transradial coronary stenting feasible. Bare stent implantation, 6F technique, increased patient mobility, reduced vascular complications and reduced hospital stay may increase cost effectiveness of this novel technique. Two well-documented patient groups selected for elective single vessel and single lesion Palmaz Schatz stent implantation were retrospectively compared. Group A (transradial stenting; n = 35) was compared to Group B (transfemoral stenting; n = 25) derived from the Benestent population, included in our hospital. A comparison was made for three areas of interest: (1) procedural consumption of material (the number of guiding catheters, guidewires, balloon catheters and stents), (2) postprocedural need for diagnostic and therapeutic procedures for stent-related complications, and (3) duration of hospital stay. Differences between these subjects in Group A and B were translated to hospital costs. Although more guiding catheters were used in group A (1.69 +/- 0.87 vs. 1.08 +/- 0.28; P = 0.001), the use of the SDS contributed importantly to higher material costs in group B (cost reduction in group A; 13%). Less patients in group A required diagnostic (2 vs. 7; P = 0.027) and therapeutic (0 vs. 5; P = 0.01) procedures for bleeding complications (cost reduction; 93%). Hospitalization in Group A was shorter (6.4 +/- 4.7 vs. 11.6 +/- 9.9 days; P = 0.005), caused by early and safe mobilization, less vascular complications, and preprocedural adjustment on coumadin (cost reduction; 45%).(ABSTRACT TRUNCATED AT 250 WORDS)

  4. 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.

  5. On Representative Social Capital

    NARCIS (Netherlands)

    Bellemare, C.; Kroger, S.

    2004-01-01

    This paper analyzes data for a random sample drawn from the Dutch population who reveal their propensity to invest and reward investments in building up social capital by means of an economic experiment.We find substantial heterogeneity and asymmetries in the propensity to invest and in the propensi

  6. 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

  7. Human Capital and Sustainability

    Directory of Open Access Journals (Sweden)

    Garry Jacobs

    2011-01-01

    Full Text Available A study of sustainability needs to consider the role of all forms of capital—natural, biological, social, technological, financial, cultural—and the complex ways in which they interact. All forms of capital derive their value, utility and application from human mental awareness, creativity and social innovation. This makes human capital, including social capital, the central determinant of resource productivity and sustainability. Humanity has entered the Anthropocene Epoch in which human changes have become the predominant factor in evolution. Humanity is itself evolving from animal physicality to social vitality to mental individuality. This transition has profound bearing on human productive capabilities, adaptability, creativity and values, the organization of economy, public policy, social awareness and life styles that determine sustainability. This article examines the linkages between population, economic development, employment, education, health, social equity, cultural values, energy intensity and sustainability in the context of evolving human consciousness. It concludes that development of human capital is the critical determinant of long-term sustainability and that efforts to accelerate the evolution of human consciousness and emergence of mentally self-conscious individuals will be the most effective approach for ensuring a sustainable future. Education is the primary lever. Human choice matters.

  8. 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...

  9. 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…

  10. 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...... redistribution, which in turn reduces corruption....

  11. 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...

  12. NANNING China's Green Capital

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ Nanning,the capital city of Guangxi province,is not only the political,economic and cultural center of the province,but also plays an important role in the economic development of southwest China.Nanning's advantageous location makes the city a commercial and communication center,opening China to Southeast Asia.

  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. Capital Structure and Assets

    DEFF Research Database (Denmark)

    Flor, Christian Riis

    2008-01-01

    post optimally sell the assets or re-optimize the capital structure. Ex ante, more uncertain asset value decreases leverage, but not firm value, and selling the assets becomes less likely. Firms should tend to invest in assets whose value is less correlated to changes in earnings and, in addition...

  15. 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 alternati

  16. A Comparison of Carbon Footprint and Production Cost of Different Pasta Products Based on Whole Egg and Pea Flour

    Directory of Open Access Journals (Sweden)

    Antonia Nette

    2016-03-01

    Full Text Available Feed and food production are inter alia reasons for high greenhouse gas emissions. Greenhouse gas emissions could be reduced by the replacement of animal components with plant components in processed food products, such as pasta. The main components currently used for pasta are semolina, and water, as well as additional egg. The hypothesis of this paper is that the substitution of whole egg with plant-based ingredients, for example from peas, in such a product might lead to reduced greenhouse gas emissions (GHG and thus a reduced carbon footprint at economically reasonable costs. The costs and carbon footprints of two pasta types, produced with egg or pea protein, are calculated. Plant protein–based pasta products proved to cause 0.57 kg CO2 equivalents (CO2eq (31% per kg pasta less greenhouse gas emissions than animal-based pasta, while the cost of production increases by 10% to 3.00 €/kg pasta.

  17. Comparisons of adsorbent cost for the removal of zinc (II) from aqueous solution by carbon nanotubes and activated carbon.

    Science.gov (United States)

    Lu, Chungsying; Chiu, Huantsung; Bai, Hsunling

    2007-01-01

    The reversibility of Zn2+ sorption onto single-walled carbon nanotubes (SWCNTs), multi-walled carbon nanotubes (MWCNTs) and powdered activated carbon (PAC) was investigated to evaluate their repeated availability performance in water treatment. Under the same conditions, the Zn2+ sorption capacity of SWCNTs and MWCNTs was more than that of PAC and could be maintained after several cycles of water treatment and regeneration. A statistical analysis on the replacement cost of these adsorbents based on the best-fit regression of the measured equilibrium capacity of each water treatment cycle was also conducted. The results revealed that the SWCNTs and MWCNTs could be reused through a large number of water treatment cycles and thus appear cost-effective in spite of their high unit cost at the present time.

  18. Quantum ring-polymer contraction method: Including nuclear quantum effects at no additional computational cost in comparison to ab initio molecular dynamics

    Science.gov (United States)

    John, Christopher; Spura, Thomas; Habershon, Scott; Kühne, Thomas D.

    2016-04-01

    We present a simple and accurate computational method which facilitates ab initio path-integral molecular dynamics simulations, where the quantum-mechanical nature of the nuclei is explicitly taken into account, at essentially no additional computational cost in comparison to the corresponding calculation using classical nuclei. The predictive power of the proposed quantum ring-polymer contraction method is demonstrated by computing various static and dynamic properties of liquid water at ambient conditions using density functional theory. This development will enable routine inclusion of nuclear quantum effects in ab initio molecular dynamics simulations of condensed-phase systems.

  19. Quantum Ring-Polymer Contraction Method: Including nuclear quantum effects at no additional computational cost in comparison to ab-initio molecular dynamics

    CERN Document Server

    John, Chris; Habershon, Scott; Kühne, Thomas D

    2015-01-01

    We present a simple and accurate computational method, which facilitates ab-initio path-integral molecular dynamics simulations, where the quantum mechanical nature of the nuclei is explicitly taken into account, at essentially no additional computational cost in comparison to the corresponding calculation using classical nuclei. The predictive power of the proposed quantum ring-polymer contraction method is demonstrated by computing various static and dynamic properties of liquid water at ambient conditions. This development permits to routinely include nuclear quantum effects in ab-initio molecular dynamics simulations.

  20. Comparison between low-cost marker-less and high-end marker-based motion capture systems for the computer-aided assessment of working ergonomics.

    Science.gov (United States)

    Patrizi, Alfredo; Pennestrì, Ettore; Valentini, Pier Paolo

    2016-01-01

    The paper deals with the comparison between a high-end marker-based acquisition system and a low-cost marker-less methodology for the assessment of the human posture during working tasks. The low-cost methodology is based on the use of a single Microsoft Kinect V1 device. The high-end acquisition system is the BTS SMART that requires the use of reflective markers to be placed on the subject's body. Three practical working activities involving object lifting and displacement have been investigated. The operational risk has been evaluated according to the lifting equation proposed by the American National Institute for Occupational Safety and Health. The results of the study show that the risk multipliers computed from the two acquisition methodologies are very close for all the analysed activities. In agreement to this outcome, the marker-less methodology based on the Microsoft Kinect V1 device seems very promising to promote the dissemination of computer-aided assessment of ergonomics while maintaining good accuracy and affordable costs. PRACTITIONER’S SUMMARY: The study is motivated by the increasing interest for on-site working ergonomics assessment. We compared a low-cost marker-less methodology with a high-end marker-based system. We tested them on three different working tasks, assessing the working risk of lifting loads. The two methodologies showed comparable precision in all the investigations.

  1. Cost efficiency of Japanese steam power generation companies: A Bayesian comparison of random and fixed frontier models

    Energy Technology Data Exchange (ETDEWEB)

    Assaf, A. George [Isenberg School of Management, University of Massachusetts-Amherst, 90 Campus Center Way, Amherst 01002 (United States); Barros, Carlos Pestana [Instituto Superior de Economia e Gestao, Technical University of Lisbon, Rua Miguel Lupi, 20, 1249-078 Lisbon (Portugal); Managi, Shunsuke [Graduate School of Environmental Studies, Tohoku University, 6-6-20 Aramaki-Aza Aoba, Aoba-Ku, Sendai 980-8579 (Japan)

    2011-04-15

    This study analyses and compares the cost efficiency of Japanese steam power generation companies using the fixed and random Bayesian frontier models. We show that it is essential to account for heterogeneity in modelling the performance of energy companies. Results from the model estimation also indicate that restricting CO{sub 2} emissions can lead to a decrease in total cost. The study finally discusses the efficiency variations between the energy companies under analysis, and elaborates on the managerial and policy implications of the results. (author)

  2. 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...

  3. Social capital and sports clubs

    OpenAIRE

    Tacon, Richard

    2014-01-01

    Book synopsis: \\ud \\ud This volume provides a collection of critical new perspectives on social capital theory by examining how social values, power relationships, and social identity interact with social capital. This book seeks to extend this theory into what have been largely under-investigated domains, and, at the same time, address long-standing, classic questions in the literature concerning the forms, determinants, and consequences of social capital.\\ud \\ud Social capital can be unders...

  4. MODELLING SOCIAL CAPITAL AND GROWTH

    OpenAIRE

    Chou, Yuan K.

    2002-01-01

    This paper proposes three theoretical growth models incorporating social capital, based on varied expositions on the concept of social capital and the empirical evidence gathered to date. In these models, social capital impacts growth by assisting in the accumulation of human capital, by affecting financial development through its effects on collective trust and social norms, and by facilitating networking between firms that result in the creation and diffusion of business and technological i...

  5. 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.

  6. Working Paper on Social capital

    DEFF Research Database (Denmark)

    Lassen Hanan, Anne

    2013-01-01

    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...

  7. Bank capital management : International evidence

    NARCIS (Netherlands)

    De Jonghe, O.G.; Öztekin, Ö.

    2015-01-01

    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 (redu

  8. 75 FR 6151 - Minimum Capital

    Science.gov (United States)

    2010-02-08

    ... sound operations.\\4\\ Also, section 1362(e) provides for additional capital and reserve requirements to... provide additional authorities for FHFA regarding minimum capital requirements. Section 1362(a... section.\\6\\ \\3\\ The Bank Act's current minimum capital requirements apply to the eleven banks that...

  9. The Comparison of Mode Choice Sensitivity to the Reduction of Travel Time and Cost in Multimodal Trip

    Directory of Open Access Journals (Sweden)

    Mohammad Ganji

    2013-07-01

    Full Text Available Nowadays, with the extension of travel distances and accessibility to the various commuting options, multimodal trip proposes as the most competent travelling strategy. However, with increasing in demand by using these options as well as metro, subway, buses, cycles and sidewalk, some problems arose. The import of this quantitative study is to sympathize with the significance of the multimodal as a novel factor in the transportation. In this study, we discussed about cost and time as two significant factors, which affect everybody's life. While improving these two factors have a meaningful effect on encouraging/discouraging private vehicle commuters to switch to public transport. The methodology of this study is an empirical research in which a survey was conducted among the students at The National University of Malaysia with a numeric sample. Hence, a case study based on areas around UKM campus is used to demonstrate the results. What were investigated in this study were the attributes of a reduction in either travel cost or time to promote people who use their own vehicles to shift toward public transportation. The results show that the two factors: time and cost made a significant contribution in motivating private vehicle users to switch public transport. However, the most important purpose of this study was determining the most effective factor (at least based on our condition since it's not practically possible to have the travel time and cost reduction together.

  10. Rewards and Costs in Adolescent Other-Sex Friendships: Comparisons to Same-Sex Friendships and Romantic Relationships

    Science.gov (United States)

    Hand, Laura Shaffer; Furman, Wyndol

    2009-01-01

    This study used a social exchange framework to examine the features of non-romantic other-sex (OS) friendships compared with same-sex (SS) friendships and romantic relationships. High school seniors (N = 141) completed open-ended interviews about the benefits and costs of having OS friendships, SS friendships, and romantic relationships in…

  11. Comparison of Nutrient Content and Cost of Home-Packed Lunches to Reimbursable School Lunch Nutrient Standards and Prices

    Science.gov (United States)

    Johnson, Cara M.; Bednar, Carolyn; Kwon, Junehee; Gustof, Alissa

    2009-01-01

    Purpose: The purpose of this study was to compare nutrient content and cost of home-packed lunches to nutrient standards and prices for reimbursable school lunches. Methods: Researchers observed food and beverage contents of 333 home packed lunches at four north Texas elementary schools. Nutritionist Pro was used to analyze lunches for calories,…

  12. Topology Comparison of Superconducting Generators for 10-MW Direct-Drive Wind Turbines: Cost of Energy Based

    DEFF Research Database (Denmark)

    Liu, Dong; Polinder, Henk; Abrahamsen, Asger Bech

    2017-01-01

    their LCoE in a simplified form of levelized equipment cost of energy (LCoE$_{\\text{eq}}$). MgB$_2$ wires are employed in the field winding. Based on the current unit cost and critical current density capability of the MgB $_2$ wire at 20 K, the topologies with more iron have a much lower LCo......This paper aims at finding feasible electromagnetic designs of superconducting synchronous generators (SCSGs) for a 10-MW direct-drive wind turbine. Since a lower levelized cost of energy (LCoE) increases the feasibility of SCSGs in this application, 12 generator topologies are compared regarding......E$_{\\text{eq}}$ than the topologies with more nonmagnetic cores. The fully iron-cored topology with salient poles has the lowest LCoE $_{\\text{eq}}$. Then a scenario study shows that the difference of LCoE$_{\\text{eq}}$ between the topologies will become much smaller when the unit cost of the MgB$_2$ wire drops...

  13. A Comparison of Response Cost and Differential Reinforcement of Other Behavior to Reduce Disruptive Behavior in a Preschool Classroom

    Science.gov (United States)

    Conyers, Carole; Miltenberger, Raymond; Maki, Amber; Barenz, Rebecca; Jurgens, Mandy; Sailer, Angela; Haugen, Meredith; Kopp, Brandon

    2004-01-01

    This study investigated the effectiveness of response cost and differential reinforcement of other behavior (DRO) in reducing the disruptive behaviors of 25 children in a preschool classroom. Using an alternating treatments design, disruptive behavior was reduced when the participants earned tokens for the absence of disruptive behavior (DRO) or…

  14. Cost Comparison of B-1B Non-Mission-Capable Drivers Using Finite Source Queueing with Spares

    Science.gov (United States)

    2012-09-06

    the other internal users (Dewan & Mendelson , 1990). Queueing Much research has been done in the queueing field. Two specific categories of...Dewan, S., & Mendelson , H. (1990). User Delay Costs and Internal Pricing for a Service Facility. Management Science, 36 (12), 1502-1517. Elsayed, E

  15. Cost-effectiveness models for chronic obstructive pulmonary disease : cross-model comparison of hypothetical treatment scenarios

    NARCIS (Netherlands)

    Hoogendoorn, Martine; Feenstra, Talitha L; Asukai, Yumi; Borg, Sixten; Hansen, Ryan N; Jansson, Sven-Arne; Samyshkin, Yevgeniy; Wacker, Margarethe; Briggs, Andrew H; Lloyd, Adam; Sullivan, Sean D; Rutten-van Mölken, Maureen P M H

    2014-01-01

    OBJECTIVES: To compare different chronic obstructive pulmonary disease (COPD) cost-effectiveness models with respect to structure and input parameters and to cross-validate the models by running the same hypothetical treatment scenarios. METHODS: COPD modeling groups simulated four hypothetical inte

  16. Further development of the cleanable steel HEPA filter, cost/benefit analysis, and comparison with competing technologies

    Energy Technology Data Exchange (ETDEWEB)

    Bergman, W.; Lopez, R.; Wilson, K. [Lawrence Livermore National Lab., CA (United States)] [and others

    1997-08-01

    We have made further progress in developing a cleanable steel fiber HEPA filter. We fabricated a pleated cylindrical cartridge using commercially available steel fiber media that is made with 1 {mu}m stainless steel fibers and sintered into a sheet form. Test results at the Department of Energy (DOE) Filter Test Station at Oak Ridge show the prototype filter cartridge has 99.99% efficiency for 0.3 {mu}m dioctyl phthalate (DOP) aerosols and a pressure drop of 1.5 inches. Filter loading and cleaning tests using AC Fine dust showed the filter could be repeatedly cleaned using reverse air pulses. Our analysis of commercially optimized filters suggest that cleanable steel HEPA filters need to be made from steel fibers less than 1{mu}m, and preferably 0.5 {mu}m, to meet the standard HEPA filter requirements in production units. We have demonstrated that 0.5 {mu}m steel fibers can be produced using the fiber bundling and drawing process. The 0.5 {mu}m steel fibers are then sintered into small filter samples and tested for efficiency and pressure drop. Test results on the sample showed a penetration of 0.0015 % at 0.3 {mu}m and a pressure drop of 1.15 inches at 6.9 ft/min (3.5 cm/s) velocity. Based on these results, steel fiber media can easily meet the requirements of 0.03 % penetration and 1.0 inch of pressure drop by using less fibers in the media. A cost analysis of the cleanable steel HEPA filter shows that, although the steel HEPA filter costs much more than the standard glass fiber HEPA filter, it has the potential to be very cost effective because of the high disposal costs of contaminated HEPA filters. We estimate that the steel HEPA filter will save an average of $16,000 over its 30 year life. The additional savings from the clean-up costs resulting from ruptured glass HEPA filters during accidents was not included but makes the steel HEPA filter even more cost effective. 33 refs., 28 figs., 1 tab.

  17. Cost competitiveness of a solar cell array power source for ATS-6 educational TV terminal

    Science.gov (United States)

    Masters, R. M.

    1975-01-01

    A cost comparison is made between a terrestrial solar cell array power system and a variety of other power sources for the ATS-6 Satellite Instructional Television Experiment (SITE) TV terminals in India. The solar array system was sized for a typical Indian location, Lahore. Based on present capital and fuel costs, the solar cell array power system is a close competitor to the least expensive alternate power system. A feasibility demonstration of a terrestrial solar cell array system powering an ATS-6 receiver terminal at Cleveland, Ohio is described.

  18. Ensayo sobre el Capital Social

    Directory of Open Access Journals (Sweden)

    Ramón Frediani

    2011-08-01

    Full Text Available En la teoría económica existen distintas definiciones de capital: capital físico, el capital en recursos naturales, el capital financiero, el capital en infraestructura económica, el capital en infraestructura social y el capital humano. Todos ellos son condiciones necesarias para que un país alcance el desarrollo económico y social y un alto estándar y calidad de vida de sus habitantes, pero no suficientes puesto que hace falta una categoría adicional de capital. En los últimos años ha surgido el análisis de una nueva categoría: el Capital Social. El concepto se ha convertido en uno de los temas más debatidos de las ciencias sociales y políticas. Se refiere a un elemento invisible, etéreo, menos tangible que el capital humano (conocimientos y/o habilidades de los individuos o el capital físico (bienes materiales, pero que resulta decisivo para la actividad productiva, la satisfacción de las necesidades personales y el desarrollo comunitario y de una sociedad toda.

  19. Cost of riparian buffer zones: A comparison of hydrologically adapted site-specific riparian buffers with traditional fixed widths

    Science.gov (United States)

    Tiwari, T.; Lundström, J.; Kuglerová, L.; Laudon, H.; Öhman, K.; Ågren, A. M.

    2016-02-01

    Traditional approaches aiming at protecting surface waters from the negative impacts of forestry often focus on retaining fixed width buffer zones around waterways. While this method is relatively simple to design and implement, it has been criticized for ignoring the spatial heterogeneity of biogeochemical processes and biodiversity in the riparian zone. Alternatively, a variable width buffer zone adapted to site-specific hydrological conditions has been suggested to improve the protection of biogeochemical and ecological functions of the riparian zone. However, little is known about the monetary value of maintaining hydrologically adapted buffer zones compared to the traditionally used fixed width ones. In this study, we created a hydrologically adapted buffer zone by identifying wet areas and groundwater discharge hotspots in the riparian zone. The opportunity cost of the hydrologically adapted riparian buffer zones was then compared to that of the fixed width zones in a meso-scale boreal catchment to determine the most economical option of designing riparian buffers. The results show that hydrologically adapted buffer zones were cheaper per hectare than the fixed width ones when comparing the total cost. This was because the hydrologically adapted buffers included more wetlands and low productive forest areas than the fixed widths. As such, the hydrologically adapted buffer zones allows more effective protection of the parts of the riparian zones that are ecologically and biogeochemically important and more sensitive to disturbances without forest landowners incurring any additional cost than fixed width buffers.

  20. Novel, low-cost alternative technologies to tackle practical, industrial conundrums – a case study of batteries

    Directory of Open Access Journals (Sweden)

    Chan Victor K. Y.

    2016-01-01

    Full Text Available Whereas batteries in comparison with most other means of energy storage are more environmentally friendly and economical in their operation, they are beset by low energy replenishment rates, low energy storage density, high capital cost of themselves, and high capital cost of energy replenishment infrastructures. Mainly based on ergonomics, this paper proposes a novel, low-cost alternative technology to practically and industrially make these weaknesses irrelevant to some extent without calling for revolutionary technological breakthroughs in material science, batteries’ microstructures, or battery manufacturing technologies. The technology takes advantage of modularization of battery systems, prioritization of charging and discharging of battery module(s according to ease of unloading and/or loading the battery module(s and/or ease of loading replacement battery module(s of the battery module(s.

  1. 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...... in the presence of temporarypayment difficulties of borrowers. Banks offering lenient (less strict) loan termsmust have higher initial levels of capital and charge higher loan rates. Whencapital requirements are increased, both strict and lenient banks hold higher levelsof initial capital and they raise loan...... 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...

  2. Leveraging organisational cultural capital

    Directory of Open Access Journals (Sweden)

    R Scheel

    2007-01-01

    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.

  3. Governing Global Capital

    DEFF Research Database (Denmark)

    Harrington, Brooke

    an institutionalist perspective, the paper examines three ways in which wealth managers, both individually and through their professional society, influence regional competition for power and wealth: 1) by finding loopholes in existing policies that limit the global flow of capital; 2) by lobbying national......How do professions affect the configuration of political economies worldwide? This study addresses the question through interviews with members of a new transnational profession - wealth management - whose innovations are reshaping the balance of power in global finance. Wealth managers specialize...... 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...

  4. Comparison of efficacy, safety and cost-effectiveness of rupatadine and olopatadine in patients of chronic spontaneous urticaria: A randomized, double-blind, comparative, parallel group trial

    Directory of Open Access Journals (Sweden)

    Ganesh N Dakhale

    2016-01-01

    Full Text Available Objective: To compare efficacy, safety and cost-effectiveness of rupatadine and olopatadine in patients of chronic spontaneous urticaria. Materials and Methods: A 6-week, single-centered, randomized, double blind, parallel group comparative clinical study was conducted on patients with chronic spontaneous urticaria. Following inclusion and exclusion criteria, 60 patients were recruited and were randomized to two treatment groups and received the respective drugs for 6 weeks. At follow-up, parameters assessed were mean total symptom score (MTSS calculated by adding the mean number of wheals (MNW and the mean pruritus score (MPS, number of wheals, size of wheal, scale for interference of wheals with sleep (SIWS. Results: Both the drugs significantly reduced the MTSS, number of wheals, size of wheal, scale for interference of wheals with sleep, but olopatadine was found to be superior. In olopatadine group, there was significantly higher reduction in MTSS (p = 0.01, Number of wheals (P < 0.05, Size of wheals (p < 0.05, Scale for intensity of erythema (p < 0.05 and change in eosinopils count (p = 0.015 than that of rupatadine. Incidence of adverse effects was found to be less in olopatadine group when compared with rupatadine group. Cost effectiveness ratio was less in olopatadine group as compared to rupatadine group throughout the treatment. Conclusions: Olopatadine is a better choice in chronic spontaneous urticaria in comparison to rupatadine due to its better efficacy, safety and cost effectiveness profile.

  5. ROLE OF HUMAN CAPITAL INVESTMENT IN A COMPETITIVE ECONOMY

    Directory of Open Access Journals (Sweden)

    Mungiu-Pupăzan Mariana Claudia

    2012-12-01

    Full Text Available This paper wants an analysis of investment in human capital as an important resource in the economy. The paper also seeks to strengthen the argument that this resource plays an important role in a competitive economy. The essence of the idea of human capital investment is made in human resources to improve their productivity. Costs are incurred in the expectation of future benefits, hence the term "investment" in human resources. Like all investments, and there is no question if economically justified. The answer to this question depends on whether or not the benefits outweigh the costs by an amount satisfactory or not they apply standard investment criteria.

  6. fuente de capital humano

    Directory of Open Access Journals (Sweden)

    Ligia Becerra

    2005-01-01

    Full Text Available El capital intelectual es una concepción novedosa, tipificada como un activo intangible que agrega valor a la empresa; está formado por tres componentes: el capital organizacional, el humano y el relacional. El capital humano está relacionado con el desarrollo y los conocimientos del individuo, que permite diferenciar a un profesional de otro. El objetivo de este trabajo es analizar la formación del Contador Público egresado de la Universidad de Los Andes (ULA de Trujillo, como fuente de capital humano para su desempeño profesional. Los datos se recolectaron aplicando un cuestionario a una muestra aleatoria de 47 de estos profesionales, empleando para el análisis y presentación de los resultados técnicas estadísticas. La investigación evidencia que la mayoría de los encuestados poseen un nivel de satisfacción de medio a bajo con su formación de pregrado, señalando como principales debilidades del Plan de Estudio las áreas tributaria y cambiaria, el manejo instrumental del inglés y el conocimiento de las normativas que rigen el sistema económico. La formación en algunas de estas áreas la han mejorado a través de otras actividades de capacitación. No obstante reconocen algunas fortalezas tales como: el aprendizaje y dominio de conceptos y Principios Contables de Aceptación General, las matemáticas y estadística, el manejo de la contabilidad computarizada y las habilidades para analizar e interpretar problemas contables. Se concluye que a pesar de las deficiencias, la realización de cursos de actualización, junto con las fortalezas en la formación de la carrera, ha contribuido a que el contador público egresado de la ULA de Trujillo constituya un capital humano con ventaja competitiva.

  7. Whole Genome Comparison of Campylobacter jejuni Human Isolates Using a Low-Cost Microarray Reveals Extensive Genetic Diversity

    OpenAIRE

    2001-01-01

    Campylobacter jejuni is the leading cause of bacterial food-borne diarrhoeal disease throughout the world, and yet is still a poorly understood pathogen. Whole genome microarray comparisons of 11 C. jejuni strains of diverse origin identified genes in up to 30 NCTC 11168 loci ranging from 0.7 to 18.7 kb that are either absent or highly divergent in these isolates. Many of these regions are associated with the biosynthesis of surface structures including flagella, lipo-oligosaccharide, and the...

  8. Coverage Range and Cost Comparison of Remote Antenna Unit Designs for In-building Radio over Fiber Technology

    Directory of Open Access Journals (Sweden)

    Razali Ngah

    2008-05-01

    Full Text Available Future communication needs to be ubiquitous, broadband, convergent, and seamless. Radio over fiber (RoF technology is one of the most important enabler in access network for the technologies. Adoption of RoF faces bottleneck in optoelectronics, that they are still expensive, high power consumption, and limited in bandwidth. To solve the problem, transceiver in remote antenna unit (RAU is developed, i.e. electroabsorption transceiver (EAT and asymmetric Fabry-Perot modulator (AFPM. This paper compares their coverage range and cost in providing WCDMA and WLAN services. Needed gain of RF amplifier for supporting picocell is also discussed.

  9. Comparison of cost-benefit analysis of nitrogen dioxide control in Tokyo, Japan with those in other countries and cities

    Energy Technology Data Exchange (ETDEWEB)

    Voorhees, A.S.; Araki, S.; Sakai, R.; Sato, H.

    1999-07-01

    To evaluate the economic effectiveness of past NO{sub 2} controls in Tokyo, the authors compared the results of their cost-benefit analysis (CBA) of these controls with other investigations. The authors carried out a CBA of NO{sub 2} controls in Tokyo using Freeman's benefit methodology and EPA and Dixon et al. cost methodologies and they compared their assumptions and results to work done by other researchers for other countries and cities, which were collected from the literature. The authors assumed 2 to 3 days duration per incidence of respiratory illness. Kenkel suggested 4.1 days and Dixon et al. assumed 2 weeks. They estimated avoided incidence per person in adults as 2.6 (upper limit UL 2.7; lower limit LL 2.4) and in children as 0.33 (UL 0.35; LL 0.30). Ostro estimated 0.20 for respiratory symptoms in adults from NO{sub 2} exposure, 5.2 for respiratory symptoms and 0.078 for asthma attacks in adults from particulates. The authors estimated work loss days (WLDs) per person for workers as 4.7 (UL 5.0; LL 4.4) and for working mothers as 0.61 (UL 0.66; LL 0.56). Shin et al.'s per-person estimates included 4.5 WLDs in Bangkok, 3.7 in Beijing, 2.3 in Shanghai, and 1.1 in Kuala Lumpur. They estimated the cost effectiveness of NO{sub 2} control in Tokyo to be $1,400/ton (UL $1,500; LL $1,300) for motor vehicles, $21,000/ton (UL $23,000; LL $19,000) for all NO{sub x} sources, and $91,000/ton (UL $98,000; LL $84,000) for stationary point sources. This compares to $240 to $1,500/ton in West Virginia for all NO{sub x} sources, $2,700/ton in northern Virginia from motor vehicles, $5,600/ton from motor vehicles in Virginia, and $17,000 to $26,000/ton from all NO{sub x} sources in the Chesapeake River Watershed. Herein, the benefits in Tokyo exceeded the costs by a ratio of approximately 6 to 1 (UL 7:1; LL 5:1).

  10. Developing Financial Industry Must Depend on Support of the Capital Market

    Institute of Scientific and Technical Information of China (English)

    Zheng Xinlin

    2007-01-01

    @@ The first issue-the importance and urgency of developing financial industry at present. Through 28 years of reform and opening up, China's industrial capital and economy aggregate have stood in the front row, ranking the fourth in the world. In comparison with industry, financial capital is much less developed. It might even be said that the country is a giant in industry and a dwarf in financial capital.

  11. 42 CFR 413.24 - Adequate cost data and cost finding.

    Science.gov (United States)

    2010-10-01

    ...-based entity or department and reporting the costs directly in the cost center for that entity or... will be acceptable, subject to appropriate treatment of capital expenditures. (b) Definitions—(1) Cost... under subpart I of this part for cost reporting periods beginning on or after October 1, 1986. For...

  12. Rolling capital: managing investments in a value-based care world.

    Science.gov (United States)

    Jasuta, Lynette

    2016-06-01

    The importance of capital planning is increasing as the healthcare industry moves toward value-based care. Replacing unwieldy and inflexible traditional capital planning processes with a rolling capital planning approach can result in: Greater standardization, facilitating better strategic planning across the whole system. Reduced labor intensity in the planning and budgeting process. Reduced costs through being able to plan better for replacement purchases and take advantage of group purchasing and bundling opportunities. Increased transparency in the decision-making process.

  13. Gender, Religion and National Origin: Latinos' Attitude toward Capital Punishment

    Directory of Open Access Journals (Sweden)

    Ellen Baik

    2012-01-01

    Full Text Available Problem statement: Previous studies on attitudes toward capital punishment are heavily focused on comparisons between blacks and whites with little attention to the Latino population. This is problematic given the rapid growth of Latino population who is now the largest and fastest-growing ethnic minority in the United States. Approach: Empirical studies devoted exclusively to studying Latinos’ attitude toward capital punishment are few and thus, I focus on exclusively examining the Latino population utilizing 2007 Hispanic Religion Survey, which is the most recent survey that includes questions on Latinos’ attitude toward capital punishment. Results: I found that Latinos’ attitude toward capital punishment is driven by various demographic, religious and cultural factors. The most influential factors were gender, religion and the country of origin. Conclusion: Very few studies have examined Latinos’ attitude toward criminal justice policies in general and this study should be extended to study other criminal justice policies as well.

  14. The challenges of studying capitalism and its discontents

    Science.gov (United States)

    Klinsky, Sonja

    2016-01-01

    Few topics are as important or contested as the relationships among capitalism, human wellbeing and ecological integrity. In her article ‘Can capitalism deliver environmental justice?’ (Bell 2015 Environ. Res. Lett. 10 125017), Bell uses a seven-country comparison to explore how capitalism can either constrain or enable efforts to achieve environmental justice. This is an important contribution to these long-standing and recently re-ignited debates but also reminds us of the methodological challenges inevitably facing scholars attempting to engage with the big questions of capitalism and justice. Specifically the ambiguous and ideologically contested characteristics of these subjects leave scholars facing a series of hard decisions about how to operationalize studies and how to do so in ways that will be seen as credible and relevant even to those across ideological aisles.

  15. Whole genome comparison of Campylobacter jejuni human isolates using a low-cost microarray reveals extensive genetic diversity.

    Science.gov (United States)

    Dorrell, N; Mangan, J A; Laing, K G; Hinds, J; Linton, D; Al-Ghusein, H; Barrell, B G; Parkhill, J; Stoker, N G; Karlyshev, A V; Butcher, P D; Wren, B W

    2001-10-01

    Campylobacter jejuni is the leading cause of bacterial food-borne diarrhoeal disease throughout the world, and yet is still a poorly understood pathogen. Whole genome microarray comparisons of 11 C. jejuni strains of diverse origin identified genes in up to 30 NCTC 11168 loci ranging from 0.7 to 18.7 kb that are either absent or highly divergent in these isolates. Many of these regions are associated with the biosynthesis of surface structures including flagella, lipo-oligosaccharide, and the newly identified capsule. Other strain-variable genes of known function include those responsible for iron acquisition, DNA restriction/modification, and sialylation. In fact, at least 21% of genes in the sequenced strain appear dispensable as they are absent or highly divergent in one or more of the isolates tested, thus defining 1300 C. jejuni core genes. Such core genes contribute mainly to metabolic, biosynthetic, cellular, and regulatory processes, but many virulence determinants are also conserved. Comparison of the capsule biosynthesis locus revealed conservation of all the genes in this region in strains with the same Penner serotype as strain NCTC 11168. By contrast, between 5 and 17 NCTC 11168 genes in this region are either absent or highly divergent in strains of a different serotype from the sequenced strain, providing further evidence that the capsule accounts for Penner serotype specificity. These studies reveal extensive genetic diversity among C. jejuni strains and pave the way toward identifying correlates of pathogenicity and developing improved epidemiological tools for this problematic pathogen.

  16. Cost comparison among photovoltaic solar energy and conventional sources; Comparacao do custo entre energia solar fotovoltaica e fontes convencionais

    Energy Technology Data Exchange (ETDEWEB)

    Shayani, Rafael Amaral; Oliveira, Marco Aurelio Goncalves de; Camargo, Ivan Marques de Toledo [Universidade de Brasilia (UnB), DF (Brazil). Dept. de Engenharia Eletrica. Lab. de Fontes Alternativas de Energia]. E-mails: rafael@shayani.net; mago@ene.unb.br; ivancamargo@unb.br

    2006-07-01

    Brazil needs to generate more and more electricity, but it is required a special approach to consider economical, social and environmental aspects. Renewable energy promotes sustainable development, but the advantages that the embedded generation intrinsically has are cancelled by the conventional way to send energy to final costumers, using centralized stations. The necessary steps to generate electricity from fossil, nuclear and solar resources are presented here, to out stand the simplicity associated with renewable energy. Solar energy price are calculated and compared with the final residential consumer prices, considering transmission lines and distribution systems, instead of inside-power plant prices. The solar system installation's cost is about 50 times the price of a small hydro power plant, but the energy price using a 30-year approach shows that the real rate is 10 times for stand-alone systems and 3 times for the grid connected systems. If the social and environmental costs are considered in regard to the conventional energy price, the solar energy will be economically competitive in a few years, because its module prices are becoming cheaper every year. (author)

  17. MODELLING THE CONSTRAINTS OF SPATIAL ENVIRONMENT IN FAUNA MOVEMENT SIMULATIONS: COMPARISON OF A BOUNDARIES ACCURATE FUNCTION AND A COST FUNCTION

    Directory of Open Access Journals (Sweden)

    L. Jolivet

    2015-08-01

    Full Text Available Landscape influences fauna movement at different levels, from habitat selection to choices of movements’ direction. Our goal is to provide a development frame in order to test simulation functions for animal’s movement. We describe our approach for such simulations and we compare two types of functions to calculate trajectories. To do so, we first modelled the role of landscape elements to differentiate between elements that facilitate movements and the ones being hindrances. Different influences are identified depending on landscape elements and on animal species. Knowledge were gathered from ecologists, literature and observation datasets. Second, we analysed the description of animal movement recorded with GPS at fine scale, corresponding to high temporal frequency and good location accuracy. Analysing this type of data provides information on the relation between landscape features and movements. We implemented an agent-based simulation approach to calculate potential trajectories constrained by the spatial environment and individual’s behaviour. We tested two functions that consider space differently: one function takes into account the geometry and the types of landscape elements and one cost function sums up the spatial surroundings of an individual. Results highlight the fact that the cost function exaggerates the distances travelled by an individual and simplifies movement patterns. The geometry accurate function represents a good bottom-up approach for discovering interesting areas or obstacles for movements.

  18. Comparison of algae cultivation methods for bioenergy production using a combined life cycle assessment and life cycle costing approach.

    Science.gov (United States)

    Resurreccion, Eleazer P; Colosi, Lisa M; White, Mark A; Clarens, Andres F

    2012-12-01

    Algae are an attractive energy source, but important questions still exist about the sustainability of this technology on a large scale. Two particularly important questions concern the method of cultivation and the type of algae to be used. This present study combines elements of life cycle analysis (LCA) and life cycle costing (LCC) to evaluate open pond (OP) systems and horizontal tubular photobioreactors (PBRs) for the cultivation of freshwater (FW) or brackish-to-saline water (BSW) algae. Based on the LCA, OPs have lower energy consumption and greenhouse gas emissions than PBRs; e.g., 32% less energy use for construction and operation. According to the LCC, all four systems are currently financially unattractive investments, though OPs are less so than PBRs. BSW species deliver better energy and GHG performance and higher profitability than FW species in both OPs and PBRs. Sensitivity analyses suggest that improvements in critical cultivation parameters (e.g., CO(2) utilization efficiency or algae lipid content), conversion parameters (e.g., anaerobic digestion efficiency), and market factors (e.g., costs of CO(2) and electricity, or sale prices for algae biodiesel) could alter these results.

  19. Does social capital help solving real world collective action problems?

    DEFF Research Database (Denmark)

    Nannestad, Peter

    2007-01-01

    A growing number of empirical macro-level studies show that social capital has various beneficial economic and political consequences. At the micro-level these beneficial effects are normally ascribed to the positive effects of social capital on transaction costs and/or the ability to solve...... collective action problems. However, these micro-level effects of social capital are more often assumed or postulated than empirically demonstrated. Using the collective action problem of organizing for the furthering of a common (collective) interest or good among non-western first-generation immigrants...... in Denmark this paper provides empirical evidence that the number of memberships in voluntary com¬mon-interest associations - i.e. the propensity to choose the cooperative strategy of joining this type of associations - is indeed positively and significantly related to the individual’s social capital...

  20. Robot-assisted versus other types of radical prostatectomy: population-based safety and cost comparison in Japan, 2012-2013.

    Science.gov (United States)

    Sugihara, Toru; Yasunaga, Hideo; Horiguchi, Hiromasa; Matsui, Hiroki; Fujimura, Tetsuya; Nishimatsu, Hiroaki; Fukuhara, Hiroshi; Kume, Haruki; Changhong, Yu; Kattan, Michael W; Fushimi, Kiyohide; Homma, Yukio

    2014-11-01

    In 2012, Japanese national insurance started covering robot-assisted surgery. We carried out a population-based comparison between robot-assisted and three other types of radical prostatectomy to evaluate the safety of robot-assisted prostatectomy during its initial year. We abstracted data for 7202 open, 2483 laparoscopic, 1181 minimal incision endoscopic, and 2126 robot-assisted radical prostatectomies for oncological stage T3 or less from the Diagnosis Procedure Combination database (April 2012-March 2013). Complication rate, transfusion rate, anesthesia time, postoperative length of stay, and cost were evaluated by pairwise one-to-one propensity-score matching and multivariable analyses with covariants of age, comorbidity, oncological stage, hospital volume, and hospital academic status. The proportion of robot-assisted radical prostatectomies dramatically increased from 8.6% to 24.1% during the first year. Compared with open, laparoscopic, and minimal incision endoscopic surgery, robot-assisted surgery was generally associated with a significantly lower complication rate (odds ratios, 0.25, 0.20, 0.33, respectively), autologous transfusion rate (0.04, 0.31, 0.10), homologous transfusion rate (0.16, 0.48, 0.14), lower cost excluding operation (differences, -5.1%, -1.8% [not significant], -10.8%) and shorter postoperative length of stay (-9.1%, +0.9% [not significant], -18.5%, respectively). However, robot-assisted surgery also resulted in a + 42.6% increase in anesthesia time and +52.4% increase in total cost compared with open surgery (all P robotic surgery led to a dynamic change in prostate cancer surgery. Even in its initial year, robot-assisted radical prostatectomy was carried out with several favorable safety aspects compared to the conventional surgeries despite its having the longest anesthesia time and the highest cost.

  1. On the capitalization and cultivation of social capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Waldstrøm, Christian

    2008-01-01

    Bourdieu's (1986) seminal definition of social capital as "the aggregate of the actual or potential resources" is reflected in older definitions, as well as in many current within sociology (e.g. Portes, 2000) and organization (Adler & Kwon, 2002). The definition is interesting, because it directs...... 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...

  2. Comparison of biological stability and metabolism of CCK2 receptor targeting peptides, a collaborative project under COST BM0607

    Energy Technology Data Exchange (ETDEWEB)

    Ocak, Meltem [Innsbruck Medical University, Clinical Department of Nuclear Medicine, Innsbruck (Austria); Istanbul University, Department of Pharmaceutical Technology, Pharmacy Faculty, Istanbul (Turkey); Helbok, Anna; Rangger, Christine; Decristoforo, Clemens [Innsbruck Medical University, Clinical Department of Nuclear Medicine, Innsbruck (Austria); Peitl, Petra Kolenc [University Medical Centre Ljubljana, Department for Nuclear Medicine, Ljubljana (Slovenia); Nock, Berthold A. [National Center for Scientific Research Demokritos, Molecular Radiopharmacy, Institute of Radioisotopes-Radiodiagnostic Products, Athens (Greece); Morelli, Giancarlo [University of Naples ' ' Federico II' ' and IBB-CN, Department of Biological Sciences, CIRPeB, Naples (Italy); Eek, Annemarie [Radboud University Nijmegen Medical Centre, Department of Nuclear Medicine, Nijmegen (Netherlands); Sosabowski, Jane K. [Institute of Cancer, Barts and the London Queen Mary' s School of Medicine and Dentistry, Centre for Molecular Oncology and Imaging, London (United Kingdom); Breeman, W.A.P. [Erasmus MC Rotterdam, Department of Nuclear Medicine, Rotterdam (Netherlands); Reubi, Jean Claude [University of Berne, Division of Cell Biology and Experimental Cancer Research Institute of Pathology, Berne (Switzerland)

    2011-08-15

    Stability of radiolabelled cholecystokinin 2 (CCK2) receptor targeting peptides has been a major limitation in the use of such radiopharmaceuticals especially for targeted radionuclide therapy applications, e.g. for treatment of medullary thyroid carcinoma (MTC). The purpose of this study was to compare the in vitro stability of a series of peptides binding to the CCK2 receptor [selected as part of the COST Action on Targeted Radionuclide Therapy (BM0607)] and to identify major cleavage sites. Twelve different 1,4,7,10-tetraazacyclododecane-N,N',N'',N'''-tetraacetic acid (DOTA)-minigastrin/CCK conjugates were provided within an European COST Action (BM0607) by different laboratories and radiolabelled with {sup 177}Lu. Their in vitro stabilities were tested in fresh human serum. Radiochemical yields (RCY) and intact radioligands for half-life calculations were determined by radio-HPLC. Matrix-assisted laser desorption/ionisation time-of-flight mass spectrometry (MALDI-TOF MS) analysis of metabolites was performed to identify cleavage products using conjugates labelled with excess stable {sup nat}Lu, incubated in serum at 37 C. Urine metabolite analysis after injection in normal mice was performed by radio-HPLC analysis. Variable stability in human serum was found for the different peptides with calculated half-lives between 4.5 {+-} 0.1 h and 198 {+-} 0.1 h (n = 2). In urine of normal mice only metabolised peptide fragments were detected even at short times after injection for all peptides. MALDI-TOF MS revealed a major cleavage site of all minigastrin derivatives between Asp and Phe-NH{sub 2} at the C-terminal end. Development of CCK2 receptor ligands especially for therapeutic purposes in patients with MTC or small cell lung cancer (SCLC) is still ongoing in different laboratories. This comparative study provided valuable insight into the importance of biological stability especially in the context of other results of this comparative

  3. Regional Analysis of Building Distributed Energy Costs and CO2 Abatement: A U.S. - China Comparison

    Energy Technology Data Exchange (ETDEWEB)

    Mendes, Goncalo; Feng, Wei; Stadler, Michael; Steinbach, Jan; Lai, Judy; Zhou, Nan; Marnay, Chris; Ding, Yan; Zhao, Jing; Tian, Zhe; Zhu, Neng

    2014-04-09

    The following paper conducts a regional analysis of the U.S. and Chinese buildings? potential for adopting Distributed Energy Resources (DER). The expected economics of DER in 2020-2025 is modeled for a commercial and a multi-family residential building in different climate zones. The optimal building energy economic performance is calculated using the Distributed Energy Resources Customer Adoption Model (DER CAM) which minimizes building energy costs for a typical reference year of operation. Several DER such as combined heat and power (CHP) units, photovoltaics, and battery storage are considered. The results indicate DER have economic and environmental competitiveness potential, especially for commercial buildings in hot and cold climates of both countries. In the U.S., the average expected energy cost savings in commercial buildings from DER CAM?s suggested investments is 17percent, while in Chinese buildings is 12percent. The electricity tariffs structure and prices along with the cost of natural gas, represent important factors in determining adoption of DER, more so than climate. High energy pricing spark spreads lead to increased economic attractiveness of DER. The average emissions reduction in commercial buildings is 19percent in the U.S. as a result of significant investments in PV, whereas in China, it is 20percent and driven by investments in CHP. Keywords: Building Modeling and Simulation, Distributed Energy Resources (DER), Energy Efficiency, Combined Heat and Power (CHP), CO2 emissions 1. Introduction The transition from a centralized and fossil-based energy paradigm towards the decentralization of energy supply and distribution has been a major subject of research over the past two decades. Various concerns have brought the traditional model into question; namely its environmental footprint, its structural inflexibility and inefficiency, and more recently, its inability to maintain acceptable reliability of supply. Under such a troubled setting

  4. 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....

  5. Social capital and psychological distress.

    Science.gov (United States)

    Song, Lijun

    2011-12-01

    The author proposes a conceptual model to explain the diverse roles of social capital--resources embedded in social networks--in the social production of health. Using a unique national U.S. sample, the author estimated a path analysis model to examine the direct and indirect effects of social capital on psychological distress and its intervening effects on the relationships between other structural antecedents and psychological distress. The results show that social capital is inversely associated with psychological distress, and part of that effect is indirect through subjective social status. Social capital also acts as an intervening mechanism to link seven social factors (age, gender, race-ethnicity, education, occupational prestige, annual family income, and voluntary participation) with psychological distress. This study develops the theory of social capital as network resources and demonstrates the complex functions of social capital as a distinct social determinant of health.

  6. 12 CFR Appendix A to Part 208 - Capital Adequacy Guidelines for State Member Banks: Risk-Based Measure

    Science.gov (United States)

    2010-01-01

    ... gains (that is, the excess, if any, of the fair value over historical cost) on available-for-sale equity... Measurement,” July 1988. The risk-based capital guidelines include both a definition of capital and a... intangible assets—a. Goodwill. Goodwill is an intangible asset that represents the excess of the cost of...

  7. Re-Thinking Social Capital

    Directory of Open Access Journals (Sweden)

    Zlatko Bukač

    2011-06-01

    Full Text Available The concept of social capital has been used very often in sociological researches over the last two decades. Measuring social capital in civil society, neighborhoods and educational systems is merely a part of its popular usage. Many sociologists tend to use the concept of social capital very freely and therefore expand the definition of social capital. The author’s personal experience indicates that there have been a great number of academic discussions, research planning and public speeches implementing the notion of social capital without taking a detailed consideration of what that concept truly entails. By overviewing the available literature on social capital, it is actually no wonder that both sociologists and the noted concept were in this confusing situation. As Field stated in his book Social Capital (Key Ideas, published in 2008, his work was “the first attempt to provide an extended introduction on increasingly influential concept of social capital” (Field 1. Quibria notes that even though there is a vast number of research conducted on social capital in many academic fields and with various approaches ‘the concept of social capital remains largely elusive’’(1. That obviously is not an obstacle because there is a constantly growing interest in social capital. A vast body of research concerning, measuring, and defining social capital is available today, which helps a researcher to analyze and compare all of the perspectives concerning social capital. This can be of great importance when researchers approach a somewhat new subject of research such as online communication and, more specifically, online games.

  8. CSR, SMEs and Social Capital

    DEFF Research Database (Denmark)

    Murillo, David; Vallentin, Steen

    2012-01-01

    capital are interrelated, turning social capital into a powerful instrument to better explain what academic literature has called silent CSR practices. The analysis that follows questions some of the basic tenets that underpin the branch of business ethics that deals with the nature of SMEs' approach...... this type of action d) Any study of this kind of practice requires a dual approach: a) normative when using tools developed by CSR; and b) descriptive and instrumental using the notion of social capital....

  9. The external costs of electricity generation. A comparison of environmental damage of silicon photovoltaic electricity, produced with different electricity mixes, vs natural gas and coal

    Energy Technology Data Exchange (ETDEWEB)

    Olson, C.L.; Veltkamp, A.C.; Sinke, W.C. [ECN Solar Energy, Petten (Netherlands)

    2012-09-15

    In this paper the environmental damages of crystalline silicon photovoltaics are calculated, using the most recent photovoltaics data, and compared with those of the prevalent conventional energy technologies. A life cycle assessment of selected environmental impacts of 1kWh of electricity generated by various technologies was performed using Simapro software (version 7.2.4) in conjunction with the Ecoinvent database (version 2.2). The environmental impacts were assessed using the ReCiPe methodology. Because of the important role of coal and natural gas in the global electricity generation portfolio, special attention is given to the comparison of PV with those technologies. The environmental consequences of manufacturing PV modules with renewable, UCTE or 100% coal electricity mixes are explored. A brief update of the estimated monetarization of damages due to coal and climate change is included. A rough estimate of the true cost of coal and PV electricity is made in 2011.

  10. 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...... for cooperation preferences rather than beliefs about others' cooperation. To disentangle the preference and belief channels, we run a (standard) public goods game in which beliefs matter for cooperation choices and one (using the strategy method) in which they do not matter. We show that the "fairness question...

  11. Contratos de capital humano

    Directory of Open Access Journals (Sweden)

    Oscar Alejandro Goyes Viteri

    2005-01-01

    Full Text Available 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.

  12. Cool Girls, Inc. and Self-Concept: The Role of Social Capital

    Science.gov (United States)

    Thomason, Jessica D.; Kuperminc, Gabriel

    2014-01-01

    Social capital was examined as a mediator of the association between youth development program participation and gains in self-concept in a sample of 86 primarily African American female adolescents in the Cool Girls, program, and 89 comparisons. Two dimensions of social capital (the diversity of girls' social networks and the number of life…

  13. Cool Girls, Inc. and Self-Concept: The Role of Social Capital

    Science.gov (United States)

    Thomason, Jessica D.; Kuperminc, Gabriel

    2014-01-01

    Social capital was examined as a mediator of the association between youth development program participation and gains in self-concept in a sample of 86 primarily African American female adolescents in the Cool Girls, program, and 89 comparisons. Two dimensions of social capital (the diversity of girls' social networks and the number of life…

  14. A Strategic Market Game with Transactions Costs,

    Science.gov (United States)

    1983-03-30

    Hahn, F. M. (1971), "Equilibrium with Transaction Cost ," Econo- metrica, 39, 417-439. [91 Hicks, J. R. (1938), Value and Capital, Oxford University...of an Exchange Economy with Transaction Cost ," International Economic Review, 15, 699-717. [12] Kurz, M. (1974b), "Equilibrium with Transaction Costs

  15. Comparative Cost of Early Infant Male Circumcision by Nurse-Midwives and Doctors in Zimbabwe

    Science.gov (United States)

    Mangenah, Collin; Mavhu, Webster; Hatzold, Karin; Biddle, Andrea K; Ncube, Getrude; Mugurungi, Owen; Ticklay, Ismail; Cowan, Frances M; Thirumurthy, Harsha

    2016-01-01

    ABSTRACT Background: The 14 countries that are scaling up voluntary male medical circumcision (VMMC) for HIV prevention are also considering early infant male circumcision (EIMC) to ensure longer-term reductions in HIV incidence. The cost of implementing EIMC is an important factor in scale-up decisions. We conducted a comparative cost analysis of EIMC performed by nurse-midwives and doctors using the AccuCirc device in Zimbabwe. Methods: Between August 2013 and July 2014, nurse-midwives performed EIMC on 500 male infants using AccuCirc in a field trial. We analyzed the overall unit cost and identified key cost drivers of EIMC performed by nurse-midwives and compared these with costing data previously collected during a randomized noninferiority comparison trial of 2 devices (AccuCirc and the Mogen clamp) in which doctors performed EIMC. We assessed direct costs (consumable and nonconsumable supplies, device, personnel, associated staff training, and waste management costs) and indirect costs (capital and support personnel costs). We performed one-way sensitivity analyses to assess cost changes when we varied key component costs. Results: The unit costs of EIMC performed by nurse-midwives and doctors in vertical programs were US$38.87 and US$49.77, respectively. Key cost drivers of EIMC were consumable supplies, personnel costs, and the device price. In this cost analysis, major cost drivers that explained the differences between EIMC performed by nurse-midwives and doctors were personnel and training costs, both of which were lower for nurse-midwives. Conclusions: EIMC unit costs were lower when performed by nurse-midwives compared with doctors. To minimize costs, countries planning to scale up EIMC should consider using nurse-midwives, who are in greater supply than doctors and are the main providers at the primary health care level, where most infants are born. PMID:27413085

  16. A Capital-Financing Plan for School Systems and Local Government

    Science.gov (United States)

    Hodge, Penny

    2012-01-01

    School business officials are best equipped to lead in funding operating and capital needs because they understand the need for a methodical means of funding ongoing costs over time and the benefits of planning for future financial needs rather than letting emergencies dictate spending priorities. A capital-financing plan makes it possible to…

  17. Financing U.S. Renewable Energy Projects Through Public Capital Vehicles: Qualitative and Quantitative Benefits

    Energy Technology Data Exchange (ETDEWEB)

    Mendelsohn, M.; Feldman, D.

    2013-04-01

    This paper explores the possibility of financing renewable energy projects through raising capital in the public markets. It gives an overview of the size, structure, and benefits of public capital markets, as well as showing how renewable energy projects might take advantage of this source of new funds to lower the cost of electricity.

  18. Deviance as Pedagogy: From Nondominant Cultural Capital to Deviantly Marked Cultural Repertoires

    Science.gov (United States)

    Dixon-Román, Ezekiel J.

    2014-01-01

    Background/Context: Pierre Bourdieu's concept of cultural capital has been employed extensively in sociological, educational, and anthropological research. However, Bourdieu's conceptualization of cultural capital has often been misread to refer only to "high status" or dominant cultural norms and resources at the cost of…

  19. Taxes and Venture Capital Support

    DEFF Research Database (Denmark)

    Keuschnigg, Christian; Nielsen, Søren Bo

    2003-01-01

    -set may paradoxically contribute to higher quality of venturecapital finance and welfare. Subsidies to physical investment in VC-backed startupsare detrimental in our framework.Keywords: Venture capital, capital gains taxation, double moral hazard.JEL-Classification: D82, G24, H24, H25......'s success, but is not verifiable. Asa result, the market equilibrium is biased towards inefficiently low venture capitalsupport. The capital gains tax becomes especially harmful, as it further impairsadvice and causes a first-order welfare loss. Once the capital gains tax is in place,limitations on loss off...

  20. Human capital and career success

    DEFF Research Database (Denmark)

    Frederiksen, Anders; Kato, Takao

    evidence for the first time for the population of workers in an entire economy (as opposed to case study evidence) on the effects of the nature and scope of human capital on career success (measured by appointments to top management). First, we confirm the beneficial effect of acquiring general human...... 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...