WorldWideScience

Sample records for capital cost comparison

  1. Transmission line capital costs

    International Nuclear Information System (INIS)

    Hughes, K.R.; Brown, D.R.

    1995-05-01

    The displacement or deferral of conventional AC transmission line installation is a key benefit associated with several technologies being developed with the support of the U.S. Department of Energy's Office of Energy Management (OEM). Previous benefits assessments conducted within OEM have been based on significantly different assumptions for the average cost per mile of AC transmission line. In response to this uncertainty, an investigation of transmission line capital cost data was initiated. The objective of this study was to develop a database for preparing preliminary estimates of transmission line costs. An extensive search of potential data sources identified databases maintained by the Bonneville Power Administration (BPA) and the Western Area Power Administration (WAPA) as superior sources of transmission line cost data. The BPA and WAPA data were adjusted to a common basis and combined together. The composite database covers voltage levels from 13.8 to 765 W, with cost estimates for a given voltage level varying depending on conductor size, tower material type, tower frame type, and number of circuits. Reported transmission line costs vary significantly, even for a given voltage level. This can usually be explained by variation in the design factors noted above and variation in environmental and land (right-of-way) costs, which are extremely site-specific. Cost estimates prepared from the composite database were compared to cost data collected by the Federal Energy Regulatory Commission (FERC) for investor-owned utilities from across the United States. The comparison was hampered because the only design specifications included with the FERC data were voltage level and line length. Working within this limitation, the FERC data were not found to differ significantly from the composite database. Therefore, the composite database was judged to be a reasonable proxy for estimating national average costs

  2. Capital-cost behavior: is nuclear different

    International Nuclear Information System (INIS)

    Lotze, C.D.; Riordan, B.J.

    1978-01-01

    The capital costs of coal-fired and nuclear power plants are found to be comparable when costs for pollution control are included. Trends in capital costs reveal a similar rate gain that retains the same economic balance. Graphs of selected cost indices are used to show that the rapid increase in direct construction costs is not unique to nuclear plants, those of hydroelectric plants as well as coal-fired having the same pattern. Comparisons of indirect capital costs, based on analyses of direct capital and total capital costs, show estimated average growth rates of total costs to be 14% for coal and 13.6% for nuclear, while direct cost growth rates are 10.2% and 10.4%. The economics of market competition can be expected to push alternative energy source projects into balance

  3. Capital cost evaluation of liquid metal reactor by plant type - comparison of modular type with monolithic type -

    International Nuclear Information System (INIS)

    Mun, K. H.; Seok, S. D.; Song, K. D.; Kim, I. C.

    1999-01-01

    A preliminary economic comparison study was performed for KALIMER(Korea Advanced LIquid MEtal Reactor)between a modular plant type with 8 150MWe modules and a 1200MWe monolithic plant type. In both cases of FOAK (First-Of-A-Kind) Plant and NOAK (Nth-Of-A-Kind) Plant, the result says that the economics of monolithic plant is superior to its modular plant. In case of NOAK plant comparison, however, the cost difference is not significant. It means that modular plant can compete with monolithic plant in capital cost if it makes efforts of cost reduction and technical progress on the assumption that the same type of NOAK plant will be constructed continuously

  4. Breast and prostate cancer productivity costs: a comparison of the human capital approach and the friction cost approach.

    Science.gov (United States)

    Hanly, Paul; Timmons, Aileen; Walsh, Paul M; Sharp, Linda

    2012-05-01

    Productivity costs constitute a substantial proportion of the total societal costs associated with cancer. We compared the results of applying two different analytical methods--the traditional human capital approach (HCA) and the emerging friction cost approach (FCA)--to estimate breast and prostate cancer productivity costs in Ireland in 2008. Data from a survey of breast and prostate cancer patients were combined with population-level survival estimates and a national wage data set to calculate costs of temporary disability (cancer-related work absence), permanent disability (workforce departure, reduced working hours), and premature mortality. For breast cancer, productivity costs per person using the HCA were € 193,425 and those per person using the FCA were € 8,103; for prostate cancer, the comparable estimates were € 109,154 and € 8,205, respectively. The HCA generated higher costs for younger patients (breast cancer) because of greater lifetime earning potential. In contrast, the FCA resulted in higher productivity costs for older male patients (prostate cancer) commensurate with higher earning capacity over a shorter time period. Reduced working hours postcancer was a key driver of total HCA productivity costs. HCA costs were sensitive to assumptions about discount and growth rates. FCA costs were sensitive to assumptions about the friction period. The magnitude of the estimates obtained in this study illustrates the importance of including productivity costs when considering the economic impact of illness. Vastly different results emerge from the application of the HCA and the FCA, and this finding emphasizes the importance of choosing the study perspective carefully and being explicit about assumptions that underpin the methods. Copyright © 2012 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  5. 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.

  6. The Opportunity Cost of Capital

    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. PMID:25933615

  7. Cost of capital to the hospital sector.

    Science.gov (United States)

    Sloan, F A; Valvona, J; Hassan, M; Morrisey, M A

    1988-03-01

    This paper provides estimates of the cost of equity and debt capital to for-profit and non-profit hospitals in the U.S. for the years 1972-83. The cost of equity is estimated using, alternatively, the Capital Asset Pricing Model and Arbitrage Pricing Theory. We find that the cost of equity capital, using either model, substantially exceeded anticipated inflation. The cost of debt capital was much lower. Accounting for the corporate tax shield on debt and capital paybacks by cost-based insurers lowered the net cost of capital to hospitals.

  8. Cost comparisons

    CERN Multimedia

    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/...

  9. 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.

  10. Systematic methodology for estimating direct capital costs for blanket tritium processing systems

    International Nuclear Information System (INIS)

    Finn, P.A.

    1985-01-01

    This paper describes the methodology developed for estimating the relative capital costs of blanket processing systems. The capital costs of the nine blanket concepts selected in the Blanket Comparison and Selection Study are presented and compared

  11. Social opportunity cost of capital: empirical estimates

    Energy Technology Data Exchange (ETDEWEB)

    Townsend, S.

    1978-02-01

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

  12. 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... Inpatient Hospital Capital Costs General Provisions § 412.302 Introduction to capital costs. (a) New capital... revision of the debt instrument. (iii) If short-term financing was used to acquire old capital assets and...

  13. To the calculation of reduced cost capital component for power objects

    International Nuclear Information System (INIS)

    Andryushchenko, A.I.; Larin, E.A.

    1990-01-01

    The method for calculating capitalized cost component enabling comparison of alternative arrangement variants of power plant, is suggested. It is shown that in order to realize the technical-economical estimates in power industry for determination of capitalized cost component it is necessary to take into account capital construction expenditures as well as deductions for the plant dismountling and elimination of potential accidents

  14. Capital investment costs of nuclear power plants

    International Nuclear Information System (INIS)

    Woite, G.

    1978-01-01

    The purpose of the article is to summarize capital cost experience and estimates in industrialized and developing Member States of the IAEA, and to provide some guidance for cost extrapolation. The relative merits of different types and sizes of nuclear and conventional power plants for an expanding electricity generation system are compared over an adequate planning period

  15. Capital cost: gas cooled fast reactor plant

    International Nuclear Information System (INIS)

    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

  16. 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.

  17. Capitals Cost and the Investments Actualisation Rate

    Directory of Open Access Journals (Sweden)

    Ion Stancu

    2006-02-01

    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.

  18. Intellectual Capital: Comparison and Contrast.

    Science.gov (United States)

    Madsen, Susan R.

    2001-01-01

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

  19. 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.

  20. Nuclear and coal-fired power plant capital costs 1978 -June 1981

    International Nuclear Information System (INIS)

    Harbour, R.T.

    1981-07-01

    This bibliography covers 16 papers dealing with the economics of power generation - mainly comparisons between the capital costs of nuclear and coal fired plants. Some of the papers additionally discuss fuel, operating and maintenance costs, and performance. (U.K.)

  1. LIFE Cost of Electricity, Capital and Operating Costs

    International Nuclear Information System (INIS)

    Anklam, T.

    2011-01-01

    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.

  2. The Capital Costs Conundrum: Why Are Capital Costs Ignored and What Are the Consequences?

    Science.gov (United States)

    Winston, Gordon C.

    1993-01-01

    Colleges and universities historically have ignored the capital costs associated with institutional administration in their estimates of overall and per-student costs. This neglect leads to distortion of data, misunderstandings, and uninformed decision making. The real costs should be recognized in institutional accounting. (MSE)

  3. Capital costs of light water reactors: the USA

    International Nuclear Information System (INIS)

    MacKerron, G.

    1979-10-01

    The cost of building a modern nuclear power plant is greater than that of almost any other single civilian project - costs of individual plants are reckoned in hundreds of millions of pounds in the UK, and up to a billion dollars or more in the USA. Hence, depending on the size of nuclear programmes and their funding, escalation of nuclear capital costs may have important economic and social consequences through its effects on overall resource allocation. It is therefore important to analyse the extent and, as far as possible, the sources of cost increases and escalation, in order to see if the experience yields implications for technology policy. The USA has much the greatest experience in nuclear construction: it also has by far the largest amount of published information on the subject of capital costs. As all other countries lack either sufficient experience and/or adequate published cost information, it is impossible to conduct a genuine international comparison, and this paper is confined to an examination of US experience. This paper therefore assembles and evaluates currently available data on light water reactor (PWR and BWR) capital costs in the USA. (author)

  4. 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

    Recent articles have demonstrated that increased public disclosure can decrease firms' cost of capital. The focus has been on the impact of information on the cost of capital subsequent to the release of the information (the ex post cost of capital). We show that the reduction in the ex post cost...... investors may actually benefit from a higher ex post cost of capital....... 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...

  5. Capital and operating cost estimates for high temperature superconducting magnetic energy storage

    International Nuclear Information System (INIS)

    Schoenung, S.M.; Meier, W.R.; Fagaly, R.L.; Heiberger, M.; Stephens, R.B.; Leuer, J.A.; Guzman, R.A.

    1992-01-01

    Capital and operating costs have been estimated for mid-scale (2 to 200 Mwh) superconducting magnetic energy storage (SMES) designed to use high temperature superconductors (HTS). Capital costs are dominated by the cost of superconducting materials. Operating costs, primarily for regeneration, are significantly reduced for HTS-SMES in comparison to low temperature, conventional systems. This cost component is small compared to other O and M and capital components, when levelized annual costs are projected. In this paper, the developments required for HTS-SMES feasibility are discussed

  6. Capital Costs: A Conceptual Framework for Colleges and Universities

    Science.gov (United States)

    Cash, Samuel G.

    2004-01-01

    The increased attention to costs in recent years at colleges and universities draws attention to the matter of whether all costs are reflected and accounted for in the institution's internal and external financial reports. One category--capital costs--is thought by some to be overlooked at times. The possible neglect of capital costs in…

  7. What's your real cost of capital?

    Science.gov (United States)

    McNulty, James J; Yeh, Tony D; Schulze, William S; Lubatkin, Michael H

    2002-10-01

    In valuing any investment project or corporate acquisition, executives must decide what discount rate to use in their estimates of future cash flows. The traditional approach is to apply the capital asset pricing model (CAPM), which has remained fundamentally unchanged for 40 years. But the formula--in particular, its beta element--has long been a source of frustration. In fact, corporate executives and investment bankers routinely fudge their CAPM estimates, say the authors, because experience and intuition tell them the model produces inappropriate discount rates. CAPM has three main problems: First, beta is a measure of both a stock's correlation and its volatility; second, beta is based on historical data; and third, CAPM rates don't take into account the term of the investment. These factors together result in discount rates that defy common sense. As an alternative to CAPM and its beta element, the authors developed a forward-looking approach to calculating a company's cost of capital, the market-derived capital pricing model (MCPM). It does not incorporate any measure of historical stock-to-market correlation, relying instead on estimates of future volatility derived from the options market. This is helpful since investor expectations from the options market are built into a company's current stock price. Using GE as an example, the authors give step-by-step instructions for how to calculate discount rates with MCPM. They also offer evidence from a range of industries to show that MCPM's discount rates are more realistic--especially from the corporate investor's perspective--than are CAPM's.

  8. 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.

  9. A capital cost reduction study on the fast breeder reactor plant

    International Nuclear Information System (INIS)

    Taniyama, H.; Kamei, M.; Moriyama, M.

    1991-01-01

    A capital cost reduction study has been performed for large fast breeder reactor designs. The primary objective of this study is to show a trend of capital cost reduction between FBR plants at the prototype stage, the demonstration stage, and the future commercialization stage. For the FBR plant at the demonstration stage a construction cost comparison with a light water reactor has also been performed, and the target cost of FBR of below 1.5 times that of the light water reactor cost was achieved. To extend the capital cost reduction study, a feasibility study was made to achieve a capital cost of an FBR less than that of a light water reactor. The recommended design is shown as a future commercialization FBR design concept. (author)

  10. Capital costs of modular HTR reactors

    International Nuclear Information System (INIS)

    Kugeler, K.; Froehling, W.

    1993-01-01

    A decisive factor in the introduction of a reactor line, in addition of its safety, which should exclude releases of radioactivity into the environment, is its economic development and, consequently, its competitiveness. The costs of the pressurized water reactor are used for comparison with the modular HTR reactor. If the measures proposed for evolutionary increases in safety of the PWR are taken, cost increases will have to be expected for that line. The modular HTR can now attain specific construction costs of 3000 deutschmarks per electric kilowatt. Mass production and the introduction of cost-reducing innovations can improve the economy of this line even further. In this way, the modular HTR concept offers the possibility to vendors and operators to set up new economic yardsticks in safety technology. (orig.) [de

  11. Client capital as a source of enterprise cost

    OpenAIRE

    Verba Veronika A.; Tyshchenko Oleksandr O.

    2014-01-01

    The article presents the authors’ vision of the essence of the client capital and its influence upon the enterprise cost. The goal of the article is explanation of the role of the client capital in the process of enterprise capitalisation with the help of the business cost capitalisation model: investments into assets – cash flow generation – enterprise capitalisation. The result of the study is the authors’ position regarding the essence and structuring the client capital, which gives a poss...

  12. Reduction of capital costs of nuclear power plants

    International Nuclear Information System (INIS)

    2000-01-01

    The competitiveness of nuclear power plants depends largely on their capital costs represent some 60 per cent of their total generation costs. Reviewing and analysing ways and means to reduce capital costs of nuclear power plants are essential to enhance the economic viability of the nuclear option. The report is based upon cost information and data provided by experts from NEA Member countries. It investigates the efficiency of alternative methods for reducing capital costs of nuclear units. It will provide stakeholders from the industry and governmental agencies with relevant elements in support of policy making. (author)

  13. Quarterly Aggregate Capital Input and the Cost of Capital for the

    OpenAIRE

    Subhash C. Sharma; Yijian He

    1995-01-01

    It is the flow of capital services, instead of the capital stock, along with the flows of other inputs which is related to the flows of outputs in economic theory of cost and production. In applied research, quite often to capture the dynamic phenomena which occurs within a year, there is a need to use quarterly data which may not be captured by annual data. However, quarterly data on capital input and the cost of capital are not readily available. Thus, in this paper the quarterly real and n...

  14. Capital Cost Optimization for Prefabrication: A Factor Analysis Evaluation Model

    Directory of Open Access Journals (Sweden)

    Hong Xue

    2018-01-01

    Full Text Available High capital cost is a significant hindrance to the promotion of prefabrication. In order to optimize cost management and reduce capital cost, this study aims to explore the latent factors and factor analysis evaluation model. Semi-structured interviews were conducted to explore potential variables and then questionnaire survey was employed to collect professionals’ views on their effects. After data collection, exploratory factor analysis was adopted to explore the latent factors. Seven latent factors were identified, including “Management Index”, “Construction Dissipation Index”, “Productivity Index”, “Design Efficiency Index”, “Transport Dissipation Index”, “Material increment Index” and “Depreciation amortization Index”. With these latent factors, a factor analysis evaluation model (FAEM, divided into factor analysis model (FAM and comprehensive evaluation model (CEM, was established. The FAM was used to explore the effect of observed variables on the high capital cost of prefabrication, while the CEM was used to evaluate comprehensive cost management level on prefabrication projects. Case studies were conducted to verify the models. The results revealed that collaborative management had a positive effect on capital cost of prefabrication. Material increment costs and labor costs had significant impacts on production cost. This study demonstrated the potential of on-site management and standardization design to reduce capital cost. Hence, collaborative management is necessary for cost management of prefabrication. Innovation and detailed design were needed to improve cost performance. The new form of precast component factories can be explored to reduce transportation cost. Meanwhile, targeted strategies can be adopted for different prefabrication projects. The findings optimized the capital cost and improved the cost performance through providing an evaluation and optimization model, which helps managers to

  15. Relationship between information asymmetry and cost of capital

    Directory of Open Access Journals (Sweden)

    Fateme Rahmani

    2013-01-01

    Full Text Available Shareholders expected return is normally impacted by informational risk and informational asymmetry, on the other hand, creates informational risk. Thus, investors demand greater risk premium in the case of informational asymmetry and in turn corporate expenditures increase. In this study, we determine the relationship between informational asymmetry and capital cost. The study uses information of 109 companies listed in Tehran Securities Exchange over the period of 2005-2010 and the results suggest a positive and significant relationship between informational asymmetry and capital cost. In addition, the results from present research indicate that when capital markets are competitive, there is not a significant relationship between informational asymmetry and capital cost. But when markets are partially competitive there is a significant relationship between informational asymmetry and capital cost.

  16. Hospital financing: calculating inpatient capital costs in Germany with a comparative view on operating costs and the English costing scheme.

    Science.gov (United States)

    Vogl, Matthias

    2014-04-01

    The paper analyzes the German inpatient capital costing scheme by assessing its cost module calculation. The costing scheme represents the first separated national calculation of performance-oriented capital cost lump sums per DRG. The three steps in the costing scheme are reviewed and assessed: (1) accrual of capital costs; (2) cost-center and cost category accounting; (3) data processing for capital cost modules. The assessment of each step is based on its level of transparency and efficiency. A comparative view on operating costing and the English costing scheme is given. Advantages of the scheme are low participation hurdles, low calculation effort for G-DRG calculation participants, highly differentiated cost-center/cost category separation, and advanced patient-based resource allocation. The exclusion of relevant capital costs, nontransparent resource allocation, and unclear capital cost modules, limit the managerial relevance and transparency of the capital costing scheme. The scheme generates the technical premises for a change from dual financing by insurances (operating costs) and state (capital costs) to a single financing source. The new capital costing scheme will intensify the discussion on how to solve the current investment backlog in Germany and can assist regulators in other countries with the introduction of accurate capital costing. Copyright © 2014 Elsevier Ireland Ltd. All rights reserved.

  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. Cost of Capital and Bursa Malaysia Listed Company

    OpenAIRE

    Lim, Ru Po

    2005-01-01

    This study estimates the cost of capital of 226 securities listed in the Bursa Malaysia. The study's sample covers the period from January 1992 to August 2005. The cost of capital using Ordinary Least Squares Regression is first obtained. Next, the cost of capital using the 3 techniques which are the Scholes-Williams, the Dimson and Fowler-Rorke beta estimators for correction for nonsynchronous bias due to thin trading is applied. This study differs from the previous studies as this extends b...

  19. Adjustment costs in a two-capital growth model

    Czech Academy of Sciences Publication Activity Database

    Duczynski, Petr

    2002-01-01

    Roč. 26, č. 5 (2002), s. 837-850 ISSN 0165-1889 R&D Projects: GA AV ČR KSK9058117 Institutional research plan: CEZ:AV0Z7085904 Keywords : adjustment costs * capital mobility * convergence * human capital Subject RIV: AH - Economics Impact factor: 0.738, year: 2002

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

    National Research Council Canada - National Science Library

    Schulte, Steven

    1999-01-01

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

  1. Cost of Capital Estimation for Highway Concessionaires in Chile

    Directory of Open Access Journals (Sweden)

    Cristian Vergara-Novoa

    2018-01-01

    Full Text Available In this paper, we present the cost of capital estimation for highway concessionaires in Chile. We estimated the cost of equity and the cost of debt and determined the capital structure for each one of twenty-four concessionaires that operate highways. We based our estimations on the developments of Sharpe (1964, Modigliani and Miller (1958, and Maquieira (2009, which were also compared with the Brusov et al. (2015 developments. We collected stock prices for different highway concessionaires around the world from Google Finance and Reuters’ websites in order to determine the Beta of equity using a representative company. After that, we estimated the cost of equity considering Hamada (1969 and a Capital Asset Pricing Model. Then, we estimated the cost of capital using the cost of debt and the capital structure of Chile’s highway concessionaires. With all above, we were able to determine the Weighted Average Cost of Capital (WACC for highway concessions which ranges from 5.49 to 6.62%.

  2. Taxation, Corporate Financial Policy and the Cost of Capital

    OpenAIRE

    Alan J. Auerbach

    1982-01-01

    The cost of capital plays an important role in the allocation of resources among competing uses in a decentralized market system. The purpose of this paper is to organize and present what is known and what is hypothesized about the effects of taxation on the incentive to invest, via the cost of capital,taking full account of important issues that arise independently from the question of taxation. Included in the analysis is a discussion of empirical findings about the interaction of inflation...

  3. An evaluation of airline beta values and their application in calculating the cost of equity capital.

    OpenAIRE

    Turner, Sheelah; Morrell, Peter

    2003-01-01

    This paper focuses on the calculation of the cost of equity capital in a sample of airlines, in comparison to industry-calculated values. The approach usually taken is to apply the Capital Asset Pricing Model to airline stock prices and market indices. The research shows that the calculated b values are sensitive to the precise methodology and calculations used. Further, the low regression model fits indicate the Capital Asset Pricing Model may not be the most suitable model for b value calcul...

  4. Development Cost Capitalization During R&D Races

    NARCIS (Netherlands)

    De Waegenaere, A.; Sansing, R.C.; Wielhouwer, J.L.

    2017-01-01

    We investigate the economic effects of capitalizing development costs during a race between two firms to discover and develop a new technology. Winning the race requires success in the research stage and success in the development stage. Development costs are expensed in some settings, but

  5. Development cost capitalization during R&D races

    NARCIS (Netherlands)

    Waegenaere, Anja M.B.; Sansing, R.C.; Wielhouwer, J.L.

    We investigate the economic effects of capitalizing development costs during a race between two firms to discover and develop a new technology. Winning the race requires success in the research stage and success in the development stage. Development costs are expensed in some settings, but

  6. The importance of capital cost reduction in improving nuclear economics

    International Nuclear Information System (INIS)

    Langmo, A.; Braun, C.

    1996-01-01

    In the developed countries having existing nuclear programs, the situation necessitates lower total power generation cost. The restructuring of utility industry due to the deregulation causes to reorganize the ownership of some nuclear plants, and the overall economics of nuclear plants in relation to their local competition is reexamined. The reluctance to make any new long term capital cost commitment arises, and it makes new plant construction less likely in near future, and plant upgrading and improvement to be put to intense scrutiny. The capital cost recovery in existing nuclear plants in USA is discussed. It is important to recognize that there is very little that can be done to affect already expended capital, and only that can be done is to improve plant capacity factors, besides write-off. The roles of architects and engineers in improved plant economics are now evaluated by the various organizations which are interested in the participation in new nuclear industry reorganization and restructuring. The reduction of operation and maintenance costs and capital investment, and the improvement of capacity factor are reported. In new ALWR construction program, architects and engineers can significantly support the control of plant capital costs by the selection of the plant design and the sites, and the strategies of procurement and contract, construction schedule and others. (K.I.)

  7. Client capital as a source of enterprise cost

    Directory of Open Access Journals (Sweden)

    Verba Veronika A.

    2014-01-01

    Full Text Available The article presents the authors’ vision of the essence of the client capital and its influence upon the enterprise cost. The goal of the article is explanation of the role of the client capital in the process of enterprise capitalisation with the help of the business cost capitalisation model: investments into assets – cash flow generation – enterprise capitalisation. The result of the study is the authors’ position regarding the essence and structuring the client capital, which gives a possibility to detect financial and managerial instruments of capitalisation of the client capital. The conducted analysis of dynamics of financial parameters of the world leaders of IT industry, car building, clothes manufacture and beverages production allows detection of interconnection of the enterprise cost with the volume of assets and profit and identification of influence of the client capital upon capitalisation of enterprises of various spheres of activity. The article develops a model of capitalisation of the client capital on the basis of detection of cash flows, caused by formation of enterprises of B2C and B2B types.

  8. Factors affecting the minimum capital cost of a tokamak reactor

    International Nuclear Information System (INIS)

    Hancox, R.

    1981-01-01

    The Mk IIA Culham conceptual tokamak reactor design is a 2500 MWe steady-state reactor developed on the basis of a cost optimisation. A revised 1200 MWe conceptual design, the Mk IIB, used a lower wall loading and lower thermodynamic efficiency. A detailed costing of the Mk IIB design, however, showed it to have an unacceptably high capital cost. Since this high cost is a common characteristic of many fusion reactor designs, the cost optimisation of the Mk II design has been reconsidered. (author)

  9. Carbon Emission Disclosure and the Cost of Capital: An Analysis of Malaysian Capital Market

    Directory of Open Access Journals (Sweden)

    Binti Abd Rahman Noor Raida

    2017-01-01

    Full Text Available The main purpose of this study is to examine the relationship between voluntary disclosure and cost of capital by exploring the impact of voluntary carbon emission disclosure (VCED on the firm’s weighted-average cost of capital. A carbon disclosure index is used to evaluate the quality of carbon emission disclosure in 2013 and 2014 annual reports of 247 Malaysian public listed companies. By using content analysis, the result highlights a significant increase in the level and quality of carbon emission disclosure practice from 2013 to 2014. In addition, the finding from regression analysis indicates insignificant relationship between VCED quality and weighted-average cost of capital. Overall, our findings suggest that the carbon emission disclosure is still low, as such, the quality of VCED do not have an impact on firm’s cost of capital. The results of the study allow the government to measure progress toward achieving its target to reduce carbon emission and will add weight to the call by accounting regulation body such as Malaysian Accounting Standard Board for a specific standard on carbon reporting.

  10. Relationship between cost of equity capital and voluntary corporate disclosures

    NARCIS (Netherlands)

    Petrova, E.; Georgakopoulos, G.; Sotiropoulos, I.; Vasileiou, K.Z.

    2012-01-01

    The relationship between disclosure and cost of equity capital has always been interesting not only for managers, but for investors as well. Economic theory suggests that by increasing the level of corporate reporting firms not only increase their stock market liquidity, but they also decrease the

  11. Customer value disclosure and cost of equity capital

    NARCIS (Netherlands)

    Orens, R.; Aerts, W.A.A.; Lybaert, N.

    2013-01-01

    Purpose – This paper seeks to examine the association between a firm's extent and precision of customer value disclosure and its implied cost of equity capital. In addition, it aims to investigate whether industry competition intensity attenuates this association. Design/methodology/approach – The

  12. CANDU 9 - reducing capital costs through advanced construction

    International Nuclear Information System (INIS)

    Hedges, K.; Yu, S.; Hopwood, J.

    1996-01-01

    Reducing costs is a clear priority in nuclear markets where capital reaches billions and financing is hard-won. To address that priority, AECL introduced the use of advanced construction techniques. This has been one of the key thrusts behind its development of CANDU 9. (author)

  13. Cost-based industrial enterprise human capital management

    Directory of Open Access Journals (Sweden)

    Glukhov Sergei

    2017-01-01

    Full Text Available The paper focuses on importance of human capital in development of industrial enterprises, issues of their management and methods of achieving balance between interests of owners and employees. Difference between such concepts as human and labor potential as well as human and working capital is clarified. The special attention is paid to the fact that an effective system of motivation and incentivation of labor is to serve as means of rapprochement of human and labor capital. The authors point out the limited scope of the traditional forms of labor motivation and incentivation mechanisms and highlight the complexity of their encouragement for collective work results. The authors suggest using the cost-based approach to workforce management, which is based on assessment of market and intrinsic value of human capital in view of investment and quality characteristics. The proposed approach is attended by methodological support and operational calculations. The study states that the suggested human capital management model can be introduced into practice, as well as substantiates the necessity for boosting the performance of industrial enterprises and their cost by increasing production, stimulating the staff for selfrealization and self-improvement by bringing the owners’ corporate interests closer to the interests of the employees.

  14. Corruption Significantly Increases the Capital Cost of Power Plants in Developing Contexts

    Directory of Open Access Journals (Sweden)

    Kumar Biswajit Debnath

    2018-03-01

    Full Text Available Emerging economies with rapidly growing population and energy demand, own some of the most expensive power plants in the world. We hypothesized that corruption has a relationship with the capital cost of power plants in developing countries such as Bangladesh. For this study, we analyzed the capital cost of 61 operational and planned power plants in Bangladesh. Initial comparison study revealed that the mean capital cost of a power plant in Bangladesh is twice than that of the global average. Then, the statistical analysis revealed a significant correlation between corruption and the cost of power plants, indicating that higher corruption leads to greater capital cost. The high up-front cost can be a significant burden on the economy, at present and in the future, as most are financed through international loans with extended repayment terms. There is, therefore, an urgent need for the review of the procurement and due diligence process of establishing power plants, and for the implementation of a more transparent system to mitigate adverse effects of corruption on megaprojects.

  15. Return on Capital and Cost of Capital: How does their Relation Affect Firm Value?

    OpenAIRE

    Halil D. Kaya; Julia S. Kwok; Elizabeth C. Rabe

    2015-01-01

    The Great Recession of 2008-2009 hurt almost all of the companies’ stock values in the United States. Interestingly, for Starbucks, the deterioration started a few years before the recession. From 2005 to 2007, the company’s stock price declined by approximately 40%. This case encourages students to examine the company’s return on capital, compare it to its cost of capital, and then relate this to the decline in the company’s stock price. First, they will establish a single formula for return...

  16. Radium removal processes capital and operating cost estimates

    International Nuclear Information System (INIS)

    Kelly, F.J.

    1979-09-01

    An estimate of the fixed capital and operating costs for two alternative processes for the removal of dissolved Ra-226 from uranium mill effluent in Elliot Lake, Ontario is presented. Process 1 consists of barium-radium coprecipitation followed by coagulation, flocculation and sedimentation. Process 2 consists of barium-radium coprecipitation followed by gravity media filtration, sand filter backwashing and sedimentation. Cost estimates were prepared for 18 different plant configurations designed to treat 1000 and 4000 imperial gallons per minute (ig/m) of effluent, 24 hrs per day, 7 days per week and 365 days per year with several equipment options. The estimated fixed capital costs for plants equipped with gravity filters were less than those equipped with circular clarifiers. The capital costs ranged from $552,000 with a flow rate of 1000 ig/m to $2,578,000 with a flow rate of 4000 ig/m. Estimated annual operating costs, based on a plant life of 10 years, ranged from $298,000 with a flow rate of 1000 ig/m to $1,061,000 with a flow rate of 4000 ig/m

  17. 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 cost...

  18. Capital adjustment cost and bias in income based dynamic panel models with fixed effects

    OpenAIRE

    Yoseph Yilma Getachew; Keshab Bhattarai; Parantap Basu

    2012-01-01

    The fixed effects (FE) estimator of "conditional convergence" in income based dynamic panel models could be biased downward when capital adjustment cost is present. Such a capital adjustment cost means a rising marginal cost of investment which could slow down the convergence. The standard FE regression fails to take into account of this capital adjustment cost and thus it could overestimate the rate of convergence. Using a Ramsey model with long-run adjustment cost of capital, we characteriz...

  19. Capital and operating costs of irradiated natural uranium reprocessing plants

    International Nuclear Information System (INIS)

    Thiriet, L.; Jouannaud, C.; Couture, J.; Duboz, J.

    1966-01-01

    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) [fr

  20. Influences of the Capital Structure and the Cost of Capital on Financial Performance. Case Study on ENGIE Group

    OpenAIRE

    Elena Valentina IVASCU; Nicoleta BARBUTA-MISU

    2017-01-01

    The main objectives of the company's financial management are to ensure financial performances and to choose the capital structure that corresponds to the lowest total cost of capital. The purpose of this paper is to analyse the relationship between the capital structure and cost, and the financial performance of Engie Transnational Group, one of the most important global electricity producers. The data used were extracted from the Amadeus and Bloomberg databases for the period 2010-2015. Fin...

  1. 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.

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

    International Nuclear Information System (INIS)

    Kim, S. K.; Lee, S. H.; Ko, W. I.

    2015-01-01

    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

  3. Design approaches to achieve competitive LMFBR capital costs

    International Nuclear Information System (INIS)

    Arnold, W.H.; Ehrman, C.S.; Sharbaugh, J.E.; Young, W.H.

    1982-01-01

    Through analysis of the essential functional elements of an LMFBR, numerous ways were found to simplify system design, reduce the size of components and equipment, and eliminate some components and systems. The projected capital cost per net kW of this design is competitive with that of current PWRs. RandD programs and the construction and operation of CRBRP now are needed to prove out the features of this new design

  4. Social capital and transaction costs in millet markets.

    Science.gov (United States)

    Jacques, Damien Christophe; Marinho, Eduardo; d'Andrimont, Raphaël; Waldner, François; Radoux, Julien; Gaspart, Frédéric; Defourny, Pierre

    2018-01-01

    In sub-Saharan Africa, transaction costs are believed to be the most significant barrier that prevents smallholders and farmers from gaining access to markets and productive assets. In this study, we explore the impact of social capital on millet prices for three contrasted years in Senegal. Social capital is approximated using a unique data set on mobile phone communications between 9 million people allowing to simulate the business network between economic agents. Our approach is a spatial equilibrium model that integrates a diversified set of data. Local supply and demand were respectively derived from remotely sensed imagery and population density maps. The road network was used to establish market catchment areas, and transportation costs were derived from distances between markets. Results demonstrate that accounting for the social capital in the transaction costs explained 1-9% of the price variance depending on the year. The year-specific effect remains challenging to assess but could be related to a strengthening of risk aversion following a poor harvest.

  5. Social capital and transaction costs in millet markets

    Directory of Open Access Journals (Sweden)

    Damien Christophe Jacques

    2018-01-01

    Full Text Available In sub-Saharan Africa, transaction costs are believed to be the most significant barrier that prevents smallholders and farmers from gaining access to markets and productive assets. In this study, we explore the impact of social capital on millet prices for three contrasted years in Senegal. Social capital is approximated using a unique data set on mobile phone communications between 9 million people allowing to simulate the business network between economic agents. Our approach is a spatial equilibrium model that integrates a diversified set of data. Local supply and demand were respectively derived from remotely sensed imagery and population density maps. The road network was used to establish market catchment areas, and transportation costs were derived from distances between markets. Results demonstrate that accounting for the social capital in the transaction costs explained 1–9% of the price variance depending on the year. The year-specific effect remains challenging to assess but could be related to a strengthening of risk aversion following a poor harvest.

  6. A study on effects of cost-of-equity models on cost-of-capital and capital structure

    Directory of Open Access Journals (Sweden)

    Meysam Arabzadeh

    2012-10-01

    Full Text Available Most financial managers believe that there are different factors hindering decision-making about the capital structure of a company. This hindrance is so that, in some financial management literatures capital structure is called the mystery of capital. Financial managers widely believe that financial leverage enjoys a noticeable status in managerial decision making as well as management of the framework of balance sheet. The primary purpose of this research is to present applications of equity modules and to study effective factors on such models on Tehran stock exchange. The study covers data over a period of five years from 2001 to 2005. The study analyzes and tests relevant data to firm’s debt ratio and corporate size as effective factors on cost-of-equity. The preliminary findings indicate that contrary to the commonly held belief in financial management theorems, debts ratio has the least effect on cost-of-equity. Nevertheless, the study suggests that the variant of company’s size has a meaningful relationship with cost-of-equity. To calculate cost-of-equity, CAPM, Gordon and return ratio methods are used. Findings show that CAPM has more validity compared with other varieties. On the other hand, the results indicate that there is a 95-percent probability proving that liquidity has a significant negative effect on financial leverage.

  7. 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 not...

  8. 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

  9. Trends in the capital costs of CANDU generating stations

    International Nuclear Information System (INIS)

    Yu, A.M.

    1982-09-01

    This paper consolidates the actual cost experience gained by Atomic Energy of Canada Limited, Ontario Hydro, and other Canadian electric utlities in the planning, design and construction of CANDU-PHWR (CANada Deuterium Uranium-Pressurized Heavy Water Reactor) generating stations over the past 30 years. For each of the major CANDU-PHWR generating stations in operation and under construction in Canada, an analysis is made to trace the evolution of the capital cost estimates. Major technical, economic and other parameters that affect the cost trends of CANDU-PHWR generating stations are identified and their impacts assessed. An analysis of the real cost of CANDU generating stations is made by eliminating interest during construction and escalation, and the effects of planned deferment of in-service dates. An historical trend in the increase in the real cost of CANDU power plants is established. Based on the cost experience gained in the design and construction of CANDU-PHWR units in Canada, as well as on the assessment of parameters that influence the costs of such projects, the future costs of CANDU-PHWRs are presented

  10. Influences of the Capital Structure and the Cost of Capital on Financial Performance. Case Study on ENGIE Group

    Directory of Open Access Journals (Sweden)

    Elena Valentina IVASCU

    2017-06-01

    Full Text Available The main objectives of the company's financial management are to ensure financial performances and to choose the capital structure that corresponds to the lowest total cost of capital. The purpose of this paper is to analyse the relationship between the capital structure and cost, and the financial performance of Engie Transnational Group, one of the most important global electricity producers. The data used were extracted from the Amadeus and Bloomberg databases for the period 2010-2015. Financial performance was analysed both by creating and proposing an aggregate index, as well as based on the Z Conan & Holder score. The company's financial structure was analysed on the basis of the total leverage ratio and for the total cost of capital, the weighted average capital cost formula was used. The results obtained at the Engie Group level show that the capital structure is predominantly indebted, and the maximum financial performance is obtained when the financial structure is minimal and the weighted average capital cost is maximum. The reversed relationship between the financial structure and the financial performance is in accordance with the financial structure theories of information asymmetry, pecking order and dynamic trade-off. The reversed relationship is confirmed in all Engie Group companies, except one company from United Kingdom.

  11. Intercity passenger rail : Amtrak will continue to have difficulty controlling its costs and meeting capital needs

    Science.gov (United States)

    2000-05-01

    This report responds to the request to review Amtrak's costs and capital investment needs. In particular, this report discusses changes since 1995 in Amtrak's operating costs, including labor costs, payments to freight railroads to access their track...

  12. An analysis of the estimated capital cost of a fusion reactor

    International Nuclear Information System (INIS)

    Hollis, A.A.

    1981-06-01

    The cost of building a fusion reactor similar to the Culham Conceptual Tokamak reactor Mark IIB is assessed and compared with other published capital costs of fusion and fission reactors. It is concluded that capital-investment and structure-renewal costs for a typical fusion reactor as presently conceived are likely to be higher than for thermal-fission reactors. (author)

  13. An analysis of the estimated capital cost of a fusion reactor

    International Nuclear Information System (INIS)

    Hollis, A.A.; Evans, L.S.

    1981-01-01

    The cost of building a fusion reactor similar to the Culham Conceptual Tokamak reactor Mark IIB is assessed and compared with other published capital costs of fusion and fission reactors. It is concluded that capital-investment and structure-renewal costs for a typical fusion reactor as presently conceived are likely to be higher than for thermal-fission reactors. (author)

  14. Capital budgeting and cost reimbursement in investor-owned and not-for-profit hospitals.

    Science.gov (United States)

    Hubbard, C M

    1983-01-01

    Net present value estimates cannot be made in health care finance without the appropriate cost reimbursement adjustments. The results of new regulations could radically alter the effects of reimbursement on capital budgeting. Debates on the effects of cost reimbursement on decision making in hospitals will continue as long as reimbursement exists in a manner that affects operating cash flows or the cost of capital.

  15. Standardization of PWR power plants: Impact of capital investment cost

    International Nuclear Information System (INIS)

    Vincent, C.

    1991-01-01

    The French program is certainly specific to the French context but it is a large and a real experiment of standardized series of units from which we can abstract the main ideas and ranges available in different contexts. It was estimated that the standardized part could reach more than 60% of the capital cost and this percentage does not take into account a regionalized part which also could have been standardized. The main condition is a large program which could be issued from a country or a partnership between different countries. That means, common terms of reference, lists of standardized equipment, same design documents. With a levelized rhythm of erection, beneficial effects of the series could be expected. The scale effect is fairly well known, also we can wonder for instance about the choice between five units of 600 MW and three units of 1000 MW. The answer is depending on the number of units and on the discount rate. (author)

  16. The Dependence of the Cost of Capital on Degree of Diversification

    Directory of Open Access Journals (Sweden)

    Zoran Popovic

    2018-03-01

    Full Text Available The subject of this paper are theoretical and methodological aspects of determining the cost of capital on the example of two companies from the Energoprojekt system. The goal is to point out the most significant problems of determining the cost of capital in general, as well as to identify the most significant determinants of those costs. In addition, the paper has a goal to point out to the degree of impact of diversification of those two companies on the cost of their capital. Using the CAPM, the total cost of capital is calculated for Energoprojekt Holding and Energoprojekt Industrija. In accordance with that, the following hypotheses are formulated: (H0 The value of the beta coefficient of both enterprises is equal to zero, (H1 Volatility of the yield of shares of both companies is higher than the entire market, (H2 The total cost of the Holding's capital is lower than the total cost of the capital of Industrija and (H3 The largest component of the equity cost in both companies is the country risk premium. The first, second and third research hypotheses are confirmed in the paper, while the null hypothesis is rejected. The total cost of capital for Holding is equal to 14,80% and the total cost of capital for Industrija is 17,10%. The main component of the cost of equity is the risk premium of investing in Serbia, which is exceptionally high and is equal to 6,40%.

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

    NARCIS (Netherlands)

    Inklaar, R.

    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

  18. Disentangling the Effects of Corporate Disclosure on the Cost of Equity Capital: A Study of the Role of Intellectual Capital Disclosure

    OpenAIRE

    Mangena, M.; Li, J.; Tauringana, Venancio

    2016-01-01

    In this article, we investigate whether intellectual capital (IC) and financial disclosures jointly affect the firm’s cost of equity capital. In contrast to prior research, we disaggregate disclosures into IC and financial disclosures and examine whether the two disclosure types are jointly related to the cost of equity capital. We also investigate whether IC and financial disclosures have an interaction effect on the cost of equity capital. Using data for a sample of 125 U.K. firms, we find ...

  19. Analysis of capital and operating costs associated with high level waste solidification processes

    International Nuclear Information System (INIS)

    Heckman, R.A.; Kniazewycz, B.G.

    1978-03-01

    An analysis was performed to evaluate the sensitivity of annual operating costs and capital costs of waste solidification processes to various parameters defined by the requirements of a proposed Federal waste repository. Five process methods and waste forms examined were: salt cake, spray calcine, fluidized bed calcine, borosilicate glass, and supercalcine multibarrier. Differential cost estimates of the annual operating and maintenance costs and the capital costs for the five HLW solidification alternates were developed

  20. Commerical electric power cost studies. Capital cost addendum multi-unit coal and nuclear stations

    International Nuclear Information System (INIS)

    1977-09-01

    This report is the culmination of a study performed to develop designs and associated capital cost estimates for multi-unit nuclear and coal commercial electric power stations, and to determine the distribution of these costs among the individual units. This report addresses six different types of 2400 MWe (nominal) multi-unit stations as follows: Two Unit PWR Station-1139 MWe Each, Two Unit BWR Station-1190 MWe Each, Two Unit High Sulfur Coal-Fired Station-1232 MWe Each, Two Unit Low Sulfur Coal-Fired Station-1243 MWe Each, Three Unit High Sulfur Coal-Fired Station-794 MWe Each, Three Unit Low Sulfur Coal-Fired Station-801 MWe Each. Recent capital cost studies performed for ERDA/NRC of single unit nuclear and coal stations are used as the basis for developing the designs and costs of the multi-unit stations. This report includes the major study groundrules, a summary of single and multi-unit stations total base cost estimates, details of cost estimates at the three digit account level and plot plan drawings for each multi-unit station identified

  1. Understanding the cost of capital of logistics service providers: an empirical investigation of multiple contingency variables

    OpenAIRE

    Lampe, Kerstin; Hofmann, Erik

    2014-01-01

    The article analyzes the influence of company-, industry- and market-related variables on the cost of capital of logistics service providers, as well as on their systematic risk. Financial information has become more and more important in strategic decision making (especially in the international context); in addition of being a measure of performance, the cost of capital is an important variable for logistics service providers in decisions about investing capital and developing the appropria...

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

    International Nuclear Information System (INIS)

    Kahn, E.; Stoft, S.; Belden, T.

    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

  3. OPPORTUNITY COST OF EDUCATIONAL HUMAN CAPITAL INVESTMENT. APPLICATION FOR THE POSITION OF BENEFICIARY-INVESTOR

    OpenAIRE

    Florea Voiculescu

    2009-01-01

    The present paper focuses on providing a model of applying the opportunitycost concept on investments in human educational capital. In the first part we haveshown that the real costs of educational capital investment does not involve direct andindirect educational costs only but also the opportunity costs, i.e. the earnings that arelost by choosing to invest in education (and not in something else). From our researchthere results the fact that the share of the opportunity cost within the tota...

  4. PENGARUH STRUKTUR KEPEMILIKAN DALAM MEKANISME CORPORATE GOVERNANCE TERHADAP COST OF EQUITY CAPITAL

    Directory of Open Access Journals (Sweden)

    tarjo tarjo

    2009-10-01

    Full Text Available Corporate governance mechanisms believed to have strong impact to the companies’ performance. Corporate governance mechanisms examined in this study are managerial ownership and institutional ownership structure. The purposes of this study are to know the variables effect of managerial ownership and institutional ownership on cost of equity capital. The samples of the study are firms listed in Jakarta Stock Exchange in 2005. The F-test on the all variables at the level confidence 1% indicates the effect of all variables on cost of equity capital is significant. The result of this study showed that managerial ownership and institutional ownership have positive significant impact (at the level of confidence 1% and 5% on the cost of equity capital. However this result showed that corporate governance mechanisms fail to decrease the cost of equity capital.  Keywords: corporate governance, managerial ownership, institutional ownership, cost of equity capital.

  5. Mandatory International Financial Reporting Standards Adoption and Cost of Equity Capital in Nigeria

    Directory of Open Access Journals (Sweden)

    Uwuigbe Uwalomwa

    2016-05-01

    Full Text Available This study examined the effect of mandatory International Financial Reporting Standards (IFRS adoption on the cost of equity capital on Nigerian firms and whether the cost of equity capital effect after adoption of IFRS can be moderated by Return on Equity. The study covered a sample of 11 listed companies in the industrial goods sector for the period 2011 and 2013. The data for the study was secondary data generated from the annual reports and stock market report websites. The cost of equity capital was shown as the expected return on the basic value of a share and computed based on pre and post-adoption data. Findings from the study revealed that there is a significant positive relationship between the cost of equity capital and IFRS adoption indicating that the cost of equity capital increased. The market-based performance measure failed to have significant effect on the cost of equity capital after mandatory adoption. The study recommends that policies that improve domestic savings, as a principal source of equity capital, be enacted as an increase should lead to a reduction in the cost of equity capital, interest rates and increase the appeal of equity and foreign investments.

  6. 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

  7. THE ANALYSIS OF FINANCIAL EQUILIBRIUM THROUGH THE COST OF THE INVESTED CAPITAL

    Directory of Open Access Journals (Sweden)

    MELANIA ELENA MICULEAC

    2016-10-01

    Full Text Available The financial equilibrium of a company can be analyzed through the cost of the invested capital. It is the most pragmatic approach of the financial equilibrium analysis because it takes into account the cost of invested resources, their capacity to account return. I suggest a model to approach the analysis of the balanced average cost of the invested capital using the method of chain substitutions. I reached the conclusion that the main consequence of changes in the balanced average cost of the capital is on the company’s value.

  8. A comment on the cost of capital for investments with non-homogeneous components

    OpenAIRE

    Navas, Jorge; Marín Solano, Jesús

    2006-01-01

    In this paper, the expression for the cost of capital is derived when net and replacement investments exhibit differences in their effective prices due to a different fiscal treatment. It is shown that, contrary to previous results in the literature, the cost of capital should be constructed under an opportunity cost criterion rather than a historical one. This result has some important economic consequences, since the optimizing firm will take into account not only the effective price for th...

  9. User Cost of Debt-Financed Capital in Irish Manufacturing Industry: 1985 2011

    OpenAIRE

    KEARNEY, IDE; ZNUDERL, NUSA

    2013-01-01

    PUBLISHED This paper provides estimates of the cost of debt-financed capital to Irish manufacturing industry over the period 1985 to 2011. The estimates are provided for two types of capital assets, machinery and equipment and industrial buildings. They also incorporate policy interventions aimed at influencing investment behaviour of manufacturing firms in Ireland. The results show that large capital gains recorded during the Celtic Tiger period created a downward distortion in the user c...

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

    Directory of Open Access Journals (Sweden)

    Stropnik Neca

    2017-12-01

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

  11. Does Eco-efficency Reduce the Cost of Equity Capital? Empirical Evidence From Indonesia

    OpenAIRE

    Alviani, Lisa; Sholihin, Mahfud

    2015-01-01

    The objective of this study is to examine the effect of eco-efficiency on the cost of equity capital. The study hypothesizes that the implementation of eco-efficiency reduces the cost of equity capital. Using manufacturing companies listed on the Indonesian Stock Exchange for the period 2010-2012 as data, and controlling for beta, company size, Book to Market ratio, and leverage; the study finds that the implementation of eco-efficiency may reduce the cost of equity capital. The findings sugg...

  12. DOES ECO-EFFICENCY REDUCE THE COST OF EQUITY CAPITAL? EMPIRICAL EVIDENCE FROM INDONESIA

    OpenAIRE

    Lisa Alviani; Mahfud Sholihin

    2015-01-01

    The objective of this study is to examine the effect of eco-efficiency on the cost of equity capital. The study hypothesizes that the implementation of eco-efficiency reduces the cost of equity capital. Using manufacturing companies listed on the Indonesian Stock Exchange for the period 2010-2012 as data, and controlling for beta, company size, Book to Market ratio, and leverage; the study finds that the implementation of eco-efficiency may reduce the cost of equity capital. The findings sugg...

  13. DOES ECO-EFFICENCY REDUCE THE COST OF EQUITY CAPITAL? EMPIRICAL EVIDENCE FROM INDONESIA

    Directory of Open Access Journals (Sweden)

    Lisa Alviani

    2015-05-01

    Full Text Available The objective of this study is to examine the effect of eco-efficiency on the cost of equity capital. The study hypothesizes that the implementation of eco-efficiency reduces the cost of equity capital. Using manufacturing companies listed on the Indonesian Stock Exchange for the period 2010-2012 as data, and controlling for beta, company size, Book to Market ratio, and leverage; the study finds that the implementation of eco-efficiency may reduce the cost of equity capital. The findings suggest that companies should implement eco-efficency.

  14. 26 CFR 1.179B-1T - Deduction for capital costs incurred in complying with Environmental Protection Agency sulfur...

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 3 2010-04-01 2010-04-01 false Deduction for capital costs incurred in... capital costs incurred in complying with Environmental Protection Agency sulfur regulations (temporary... the deduction allowable under section 179B(a) for qualified capital costs paid or incurred by a small...

  15. Level of voluntary disclosure and the cost of capital of Brazilian companies: 2008 to 2012

    Directory of Open Access Journals (Sweden)

    Ariana Ballestero

    2016-12-01

    Full Text Available This study analyzed whether the level of voluntary disclosure in the Brazilian market affects the cost of capital of companies listed on Bovespa during the period covering 2008 through 2012.  The sample was composed of 46 Brazilian non-financial institutions, building on and complementing previous research such as that carried out by Lima, Lima, Favero and Galdi (2007, Murcia and Santos (2009a, and Li and Yang (2013. The panel data regression model is employed to relate the independent variables with the following dependent variables: Cost of Equity, Cost of Debt and Weighted Average Cost of Capital. Findings permit the conclusion that some voluntary disclosure practices influence the cost of capital, i.e., when a company chooses to voluntarily disclose information in its annual reports, this information can affect its cost of equity and cost of debt.

  16. 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.

  17. Transit forecasting accuracy : ridership forecasts and capital cost estimates, final research report.

    Science.gov (United States)

    2009-01-01

    In 1992, Pickrell published a seminal piece examining the accuracy of ridership forecasts and capital cost estimates for fixed-guideway transit systems in the US. His research created heated discussions in the transit industry regarding the ability o...

  18. Cost of Capital in Price-regulated Companies: the Case of Estonia

    Directory of Open Access Journals (Sweden)

    Priit Sander

    2013-01-01

    Full Text Available In case of price-regulated companies it is the role of appropriate government agencies to introduce clear, internally consistent, theoretically sound, and unambiguous methodology for finding the regulative cost of capital. The aim of the paper is to describe and analyze the cost of capital estimation methodology for regulated companies in Estonia and discuss some issues arising in applying this methodology. The current paper focuses on two topical issues associated with the estimation of regulative cost of capital in Estonia: estimation of market risk premium and inclusion of currency risk premium into the cost of capital. Current turmoil in financial markets has increased investors’ risk aversion as well as level of risks.

  19. The effect of non-financial risk information on the evaluation of implied cost of capitals

    OpenAIRE

    Norio Kitagawa; Hyonok Kim; Masatoshi Goto

    2011-01-01

    The purpose of this paper is to examine the effect of voluntary disclosure of `business risk' information (hereafter referred to as `risk information' ), which is a significant determinant of the information environment, on estimating the cost of capital. Recently, some studies indicate that the reliability of the cost of capital estimation differs according to the accounting standards and the information environment of the firm (e.g. Chen et al., 2004; Easton and Monahan, 2005). On the basis...

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

    OpenAIRE

    Barnes, Michelle L.; Lopez, Jose A.

    2005-01-01

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

  1. Corporate tax avoidance and ex ante equity cost of capital in Europe

    OpenAIRE

    Pulido, Matilde; Barros, Victor

    2017-01-01

    The aim of this paper is to study the longstanding relationship between corporate tax avoidance and ex ante equity cost of capital in Europe, taking into consideration country specific characteristics, which are essential in a context of corporate tax competition. We find that investors apprehend tax avoidance differently at distinct levels of tax avoidance. We provide strong evidence that as low tax avoidance firms engage in greater tax avoidance, the ex ante equity cost of capital decreases...

  2. Can we replace CAPM and the Three-Factor model with Implied Cost of Capital?

    OpenAIRE

    Löthman, Robert; Pettersson, Eric

    2014-01-01

    Researchers criticize predominant expected return models for being imprecise and based on fundamentally flawed assumptions. This dissertation evaluates Implied Cost of Capital, CAPM and the Three-Factor model abilities to estimate returns. We study each models expected return association to realized return and test for abnormal returns. Our sample covers the period 2000 to 2012 and includes 2916 US firms. We find that Implied Cost of Capital has a stronger association with realized returns th...

  3. Valuation, leverage and the cost of capital in the case of depreciable assets

    OpenAIRE

    Lund, Diderik

    2003-01-01

    Levy and Arditti (1973) introduced depreciable assets into the Modigliani and Miller (1958) model, and analyzed the implications for the cost of capital. Assuming that the firm reinvests indefinitely to maintain a constant expected cash flow, they found that depreciation increases the cost of capital before and after tax. Most of their assumptions are maintained. However, commitment to perpetual reinvestment is in most cases not a reasonable assumption. Without it, depreciation...

  4. Valuation, leverage and the cost of capital in the case of depreciable assets

    OpenAIRE

    Lund, Diderik

    2006-01-01

    Levy and Arditti (1973) introduced depreciable assets into the Modigliani and Miller (1958) model, and analyzed the implications for the cost of capital. Assuming that the firm reinvests indefinitely to maintain a constant expected cash flow, they found that depreciation increases the cost of capital before and after tax. Most of their assumptions are maintained. However, commitment to perpetual reinvestment is in most cases not a reasonable assumption. Without it, depreciation decreases the ...

  5. 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.

  6. 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.

  7. Reducing capital and operating costs in gas processing, liquefaction, and storage

    Energy Technology Data Exchange (ETDEWEB)

    Krusen, III, L C [Phillips Petroleum Co., Bartlesville, OK (United States). Research Div.

    1997-06-01

    The LNG industry is unanimous that capital costs must be reduced throughout the chain, and especially at the liquefaction facility including associated gas processing and LNG storage. The Ken ai LNG plant provides an example of how both reduced capital and operating costs were attained. This paper will cover cost production strategies that can be applied to liquefaction processes in general, and will than focus on their realization in the Phillips Optimized Cascade LNG process. The paper concludes that reduced LNG plant costs are attainable. (Author).

  8. Reducing capital and operating costs in gas processing, liquefaction, and storage

    International Nuclear Information System (INIS)

    Krusen, L.C. III

    1997-01-01

    The LNG industry is unanimous that capital costs must be reduced throughout the chain, and especially at the liquefaction facility including associated gas processing and LNG storage. The Ken ai LNG plant provides an example of how both reduced capital and operating costs were attained. This paper will cover cost production strategies that can be applied to liquefaction processes in general, and will than focus on their realization in the Phillips Optimized Cascade LNG process. The paper concludes that reduced LNG plant costs are attainable. (Author)

  9. Economic agglomerations and spatio-temporal cycles in a spatial growth model with capital transport cost

    Science.gov (United States)

    Juchem Neto, J. P.; Claeyssen, J. C. R.; Pôrto Júnior, S. S.

    2018-03-01

    In this paper we introduce capital transport cost in a unidimensional spatial Solow-Swan model of economic growth with capital-induced labor migration, considered in an unbounded domain. Proceeding with a stability analysis, we show that there is a critical value for the capital transport cost where the dynamic behavior of the economy changes, provided that the intensity of capital-induced labor migration is strong enough. On the one hand, if the capital transport cost is higher than this critical value, the spatially homogeneous equilibrium of coexistence of the model is stable, and the economy converges to this spatially homogeneous state in the long run; on the other hand, if transport cost is lower than this critical value, the equilibrium is unstable, and the economy may develop different spatio-temporal dynamics, including the formation of stable economic agglomerations and spatio-temporal economic cycles, depending on the other parameters in the model. Finally, numerical simulations support the results of the stability analysis, and illustrate the spatio-temporal dynamics generated by the model, suggesting that the economy as a whole benefits from the formation of economic agglomerations and cycles, with a higher capital transport cost reducing this gain.

  10. Impact of Capital and Current Costs Changes of the Incineration Process of the Medical Waste on System Management Cost

    Science.gov (United States)

    Jolanta Walery, Maria

    2017-12-01

    The article describes optimization studies aimed at analysing the impact of capital and current costs changes of medical waste incineration on the cost of the system management and its structure. The study was conducted on the example of an analysis of the system of medical waste management in the Podlaskie Province, in north-eastern Poland. The scope of operational research carried out under the optimization study was divided into two stages of optimization calculations with assumed technical and economic parameters of the system. In the first stage, the lowest cost of functioning of the analysed system was generated, whereas in the second one the influence of the input parameter of the system, i.e. capital and current costs of medical waste incineration on economic efficiency index (E) and the spatial structure of the system was determined. Optimization studies were conducted for the following cases: with a 25% increase in capital and current costs of incineration process, followed by 50%, 75% and 100% increase. As a result of the calculations, the highest cost of system operation was achieved at the level of 3143.70 PLN/t with the assumption of 100% increase in capital and current costs of incineration process. There was an increase in the economic efficiency index (E) by about 97% in relation to run 1.

  11. Projected cost comparison of nuclear electricity

    International Nuclear Information System (INIS)

    Juhn, P.E.; Hu, C.W.

    2000-01-01

    Comparison of electricity generation costs has been done in the late years through a large co-operation between several organisations. The studies are aiming to provide reliable comparison of electricity generating costs of nuclear and conventional base load power plants. This paper includes the result of the joint IAEA/OECD study published in 1997. (author)

  12. Impact of power purchases from non-utilities on the utility cost of capital

    International Nuclear Information System (INIS)

    Kahn, E.; Stoft, S.; Belden, T.

    1995-01-01

    The bond rating agencies in the USA have asserted that long-term power purchase contracts between non-utility generators and utilities are the equivalent of debt to the utilities, and therefore raise the cost of capital to the purchaser. Non-Utility generators claim that these contracts reduce risk to the utilities. This debate is reflected in the 1992 Energy Policy Act. This paper investigates this controversy from the perspective of the equity markets. Using a CAPM framework, various specifications of the cost of equity capital are estimated, to shed light on this question. No evidence is found for the hypothesis that non-utility generation contracts raise the cost of capital. There does appear to be a slight increase in this cost for those utilities seeking to build their own generation capacity as opposed to purchasing it from non-utility suppliers. (author)

  13. 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.

  14. Capital Adequacy, Cost Income Ratio and the Performance of Saudi Banks (2007-2011)

    OpenAIRE

    Ahmad Aref Almazari

    2013-01-01

    This paper examines the relationship between Capital adequacy and profitability. Necessary data were gathered from the financial statements of nine Saudi banks listed in the stock exchange market over the period of 2007-2011. The results of analyzing the data based on the implementation of linear regression technique reveals that there is a meaningful relationship between capital adequacy, cost-income ratio and bank size with profitability. Profitability represented in this study by the retur...

  15. Business capital accumulation and the user cost: is there a heterogeneity bias?

    OpenAIRE

    FATICA SERENA

    2016-01-01

    Using data from 23 market economy sectors across 10 OECD countries over the period 1984-2007 we show that the homogeneity assumption underlying empirical models for aggregate capital accumulation may lead to misspecification. Thus, we adopt a fully disaggregated approach – by asset types and sectors – to estimate the responsiveness of investment to the tax-adjusted user cost of capital. In this framework, we are able to link unobserved common factors to the nature of the shocks affecting the ...

  16. Capital and Operating Costs of Full-Scale Fecal Sludge Management and Wastewater Treatment Systems in Dakar, Senegal

    Science.gov (United States)

    2012-01-01

    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. PMID:22413875

  17. 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.

  18. 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...... 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......, 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...

  19. 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.

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

    DEFF Research Database (Denmark)

    Christensen, Peter Ove; Qin, Zhenjiang

    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......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...

  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. A cost comparison of traditional drainage and SUDS in Scotland.

    Science.gov (United States)

    Duffy, A; Jefferies, C; Waddell, G; Shanks, G; Blackwood, D; Watkins, A

    2008-01-01

    The Dunfermline Eastern Expansion (DEX) is a 350 ha mixed development which commenced in 1996. Downstream water quality and flooding issues necessitated a holistic approach to drainage planning and the site has become a European showcase for the application of Sustainable Urban Drainage Systems (SUDS). However, there is minimal data available regarding the real costs of operating and maintaining SUDS to ensure they continue to perform as per their design function. This remains one of the primary barriers to the uptake and adoption of SUDS. This paper reports on what is understood to be the only study in the UK where actual costs of constructing and maintaining SUDS have been compared to an equivalent traditional drainage solution. To compare SUDS costs with traditional drainage, capital and maintenance costs of underground storage chambers of analogous storage volumes were estimated. A whole life costing methodology was then applied to data gathered. The main objective was to produce a reliable and robust cost comparison between SUDS and traditional drainage. The cost analysis is supportive of SUDS and indicates that well designed and maintained SUDS are more cost effective to construct, and cost less to maintain than traditional drainage solutions which are unable to meet the environmental requirements of current legislation. (c) IWA Publishing 2008.

  3. Costs comparison of electric energy in Brazil

    International Nuclear Information System (INIS)

    Goncalves, D.; Menegassi, J.

    1981-01-01

    A cost comparison study of various sources of electric energy generation was performed using uniform analysis criteria. The results indicate higher costs for coal, followed by nuclear and hidro. It was verified that presently, large hidro-power plants can only be located far from the load centers, with increasing costs of hidro-power energy in Brazil. These costs become higher than the nuclear plant if the hidro plant is located at distances exceeding 1000 Km. (Author) [pt

  4. FACTORS AFFECTING THE ENTERPRISE’S COST OF CAPITAL IN UKRAINE

    Directory of Open Access Journals (Sweden)

    Tetiana KONIEVA,

    2017-02-01

    Full Text Available Reducing the cost of capital is one of the main tasks of financial management of any enterprise.Because of dynamism of market conditions, the economic situation in the country, the existingrequirements of the legislation, the volume, structure, cost of financial resources of the enterprise fallunder the influence of various factors. The goal of this article is to analyze the specific features of theinfluence of different factors on the weighted average cost of capital in Ukraine as a basis fordevelopment of methods for its reducing. Investigation of factors that influence on the company's financialresources was carried out in the directions determined by the classical formula of the weighted averagecost of capital (WACC, estimation of the cost of net assets’ attracting (CAPM model. Special attentionwas paid to the analysis of the domestic legislative base concerning the permitted forms of businessorganization in Ukraine, requirements for the emission and dividend policy of the enterprise, size of itsregistered, reserve capital, share of net assets in financial resources. Based on the statistical data ofdomestic business entities, their ownership structure, sources of financing, specific features of theeconomic sector’s influence were analyzed. As a result, the prevalence of corporate enterprises in Ukrainewas revealed, which is connected with relatively low costs and favorable conditions for establishment andregistration. As part of the analysis of the financial resources’ structure high level of dependence fromdebts, the popularity of commercial credit, negative effect of financial leverage were found at theUkrainian enterprises. The features of the economic sector of enterprise were analyzed, that determine thevolume of capital investments for creation and development, duration of the operational cycle,seasonality, operating and investment activities, the level of profitability, which affect the volume,structure, cost of the capital of

  5. Capital Regulation, the Cost of Financial Intermediation and Bank Profitability: Evidence from Bangladesh

    Directory of Open Access Journals (Sweden)

    Changjun Zheng

    2017-04-01

    Full Text Available In response to the recent global financial crisis, the regulatory authorities in many countries have imposed stringent capital requirements in the form of the BASEL III Accord to ensure financial stability. On the other hand, bankers have criticized new regulation on the ground that it would enhance the cost of funds for bank borrowers and deteriorate the bank profitability. In this study, we examine the impact of capital requirements on the cost of financial intermediation and bank profitability using a panel dataset of 32 Bangladeshi banks over the period from 2000 to 2015. By employing a dynamic panel generalized method of moments (GMM estimator, we find robust evidence that higher bank regulatory capital ratios reduce the cost of financial intermediation and increase bank profitability. The results hold when we use equity to total assets ratio as an alternative measure of bank capital. We also observe that switching from BASEL I to BASEL II has no measurable impact on the cost of financial intermediation and bank profitability in Bangladesh. In the empirical analysis, we further observe that higher bank management and cost efficiencies are associated with the lower cost of financial intermediation and higher bank profitability. These results have important implications for bank regulators, academicians, and bankers.

  6. 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.

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

    International Nuclear Information System (INIS)

    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

  8. Trends in nuclear power plant capital-investment cost estimates - 1976 to 1982

    International Nuclear Information System (INIS)

    Bowers, H.I.; Fuller, L.C.; Myers, M.L.

    1983-09-01

    This report describes trends in power plant capital investment cost estimates over the time period from 1976 to 1982. A review of economic parameters, inflation and escalation rates and cost of money, and a review of cost-size scaling relationships are included. Reference cost estimates are provided for light-water reactor and coal-fired electric power plants based on safety and environmental regulations in effect in January 1982. The sensitivity of the reference cost estimates to numerous economic parameters is analyzed

  9. 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…

  10. Reduction of capital costs of nuclear power plants. NEA-report

    International Nuclear Information System (INIS)

    2000-01-01

    Since the the mid-1980s, the declining real prices of fossil fuels and the significant improvements in thermal efficiencies of combined cycle power plants have eroded the economic competitiveness of nuclear power plants in most OECD countries. In order for nuclear power to remain a viable option for the next millennium, the cost of electricity from nuclear power plant must be greatly reduced to be competitive with alternative sources. Of the three major components of nuclear generation cost - capital, O and M and fuel - the capital cost component makes up approximately 60 per cent of the total. Therefore, identification of the means to reduce the capital costs of nuclear power plants is a high priority activity toward keeping nuclear power competitive. Among a number of capital cost reduction measures, the principal ones were agreed by the expert group as follows: Increased plant size, improved construction methods, reduced construction schedule, design improvement, improved procurement, organisation and contractual aspects, standardisation and construction in series, multiple unit construction, regulatory and policy reform. (orig.)

  11. 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

  12. International comparison of electricity generating costs

    International Nuclear Information System (INIS)

    Jones, P.M.S.; Stevens, G.H.; Wigley, K.

    1989-01-01

    The paper reviews the principal findings of successive studies of projected comparative generation costs for base-load electricity production conducted by Nuclear Energy Agency working groups, including a current study jointly sponsored by the International Energy Agency. It concludes that over the six years 1983-1989 nuclear generation costs have remained steady or slightly declined in the majority of OECD countries. This represents an excellent result in view of the difficulties that have arisen in many countries during the period. Nuclear power is projected to maintain a significant advantage in most OECD countries on an assessment basis reflecting utility experience and discount rates employed by the majority of participants. However, nuclear's projected advantage has declined due to a significant fall in projected coal prices which have decreased by 50% since 1983. This decline is only slightly offset by increased capital and operating costs for coal-fired plant. If rates of return sought by utilities were higher or if coal prices prove lower than utilities project then the economic balance between nuclear and coal-fired power would be further reduced and could in some instances be reversed. To improve on its competitiveness nuclear power will have to continue to control capital costs through replication and reduced construction schedules and to improve plant availability to maximise output

  13. Hospital Merger Increased Medicare and Medicaid Payments for Capital Costs.

    Science.gov (United States)

    1983-12-22

    15 provisions relating to depreciation and appraisals, i.e., the very subjects addressed by the draft report, expressly incorporate GAAP . For example...the historical cost for depreciation purposes of "owned" assets and, as stated be- fore, (see p. 54) places limitations on the use of GAAP for es...increased because of the acquisition by a net amount of about $55 million attributable to changes in interest, depreciation , and home office expenses. A

  14. 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.

  15. Human Capital and Cross-Country Comparison of Inequality

    OpenAIRE

    Jean-Marie Viaene; Itzhak Zilcha

    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) intergenerational transfers take place via parental education and, public investments in education financed by taxes (possibly, with a level determined by majority voting); (3) due to investment i...

  16. Relative cost of capital for marginal firms over the business cycle

    OpenAIRE

    Gikas A. Hardouvelis; Thierry A. Wizman

    1992-01-01

    The authors compare the effects of the business cycle on the cost of capital faced by small, distressed firms and their larger, more financially secure counterparts. The analysis draws on stock market returns data for a broad range of traded companies during the 1963-91 period.

  17. Capital and Operating Cost of Small Arsenic Removal System and their Most Frequent Maintenance Problems

    Science.gov (United States)

    This presentation will first summarize the capital and operating cost of treatment systems by type and size of the systems. The treatment systems include adsorptive media (AM) systems, iron removal (IR), coagulation/filtration (CF), ion exchange (IX) systems, and point-of-use rev...

  18. The Impact of Human Capital on the Cost of Air Force Acquisition Programs

    National Research Council Canada - National Science Library

    Feuring, Jeffrey C

    2007-01-01

    .... The measure of output is the average cost overrun of Air Force contracts. A time series regression was conducted while controlling for other economic factors such as budgetary fluctuations and inflation. The results show positive effects of Human Capital on performance. Other policy implications of the study are the importance of budgetary stability, inflation predictions and the Defense Acquisition Workforce Improvement Act (DAWIA).

  19. Does Access to Finance Lower Firms’ Cost of Capital? Empirical Evidence from International Manufacturing Data

    NARCIS (Netherlands)

    Lashitew, Addisu A.

    2011-01-01

    Lack of access to finance is argued to be one of the most binding constraints for firm growth. There is, however, limited empirical evidence on the relationship between access to finance and the cost of capital. This paper uses international manufacturing data to analyze the effect of access to

  20. The Differences Cost of Equity Capital between Before and After Adoption of IFRS

    Directory of Open Access Journals (Sweden)

    I Putu Sugiartha Sanjaya

    2017-11-01

    Full Text Available The objective of this study was to analyze and compare between cost of equity capital between before and after adoption of IFRS on Statement of Financial Accounting Standard Financial Instrument (PSAK for banking companies listed in Indonesian Stock Exchange. The period on this study was 2008-2009 for before adoption and 2013-2014 for after adoption. Data on this study was secondary data such as annual financial reporting and share price. Cost of equity capital was measured using Ohlson Model. Sample in this study was banking companies listed in Indonesian Stock Exchange in 2008, 2009, 2013, and 2014. Selecting sample was by purposive sampling with specific criteria. Results of this study proved that cost of equity capital was lower for after adoption of IFRS on Statement of Financial Accounting Standard Financial Instrument for banking companies listed in Indonesian Stock Exchange than before adoption. It meant that adoption IFRS could reduce cost of equity capital. This result had an impact on reducing non performing loan, increasing loan to deposit ratio, and increasing net interest margin.

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

    OpenAIRE

    David Castillo-Merino; Carlota Menéndez-Plans; Neus Orgaz-Guerrero

    2014-01-01

    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). Find...

  2. Some adjustments to the human capital and the friction cost methods.

    Science.gov (United States)

    Targoutzidis, Antonis

    2018-03-21

    The cost of lost output is a major component of the total cost of illness estimates, especially those for the cost of workplace accidents and diseases. The two main methods for estimating this output, namely the human capital and the friction cost method, lead to very different results, particularly for cases of long-term absence, which makes the choice of method a critical dilemma. Two hidden assumptions, one for each method, are identified in this paper: for human capital method, the assumption that had the accident not happened the individual would remain alive, healthy and employed until retirement, and for friction cost method, the assumption that any created vacancy is covered by an unemployed person. Relevant adjustments to compensate for their impact are proposed: (a) to depreciate the estimates of the human capital method for the risks of premature death, disability or unemployment and (b) to multiply the estimates of the friction cost method with the expected number of job shifts that will be caused by a disability. The impact of these adjustments on the final estimates is very important in terms of magnitude and can lead to better results for each method.

  3. Should large Spanish municipalities be financially compensated? Costs and benefits of being a capital/central municipality

    OpenAIRE

    Bosch Roca, Núria; Espasa Queralt, Marta; Montolio, Daniel

    2014-01-01

    We determine the costs and benefits of being a capital or central municipality, where central costs are understood to be incurred specifically as a result of the problems large municipalities located at the centre of an urban agglomeration face (including costs associated with social issues, immigration, commuting and diseconomies of scale) and capital costs result from the presence of regional and/or central government institutions in the municipality (loss of revenue or increase in expendit...

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

    International Nuclear Information System (INIS)

    Huser, A.; Liggenstorfer, S.; Bill, M.

    2007-01-01

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

  5. Analysis of reactor capital costs and correlated sampling of economic input variables - 15342

    International Nuclear Information System (INIS)

    Ganda, F.; Kim, T.K.; Taiwo, T.A.; Wigeland, R.

    2015-01-01

    In this paper we present work aimed at enhancing the capability to perform nuclear fuel cycle cost estimates and evaluation of financial risk. Reactor capital costs are of particular relevance, since they typically comprise about 60% to 70% of the calculated Levelized Cost of Electricity at Equilibrium (LCAE). The work starts with the collection of historical construction cost and construction duration of nuclear plants in the U.S. and France, as well as forecasted costs of nuclear plants currently under construction in the U.S. This data has the primary goal of supporting the introduction of an appropriate framework, supported in this paper by two case studies with historical data, which allows the development of solid and defensible assumptions on nuclear reactor capital costs. Work is also presented on the enhancement of the capability to model interdependence of cost estimates between facilities and uncertainties. The correlated sampling capabilities in the nuclear economic code NECOST have been expanded to include partial correlations between input variables, according to a given correlation matrix. Accounting for partial correlations correctly allows a narrowing, where appropriate, of the probability density function of the difference in the LCAE between alternative, but correlated, fuel cycles. It also allows the correct calculation of the standard deviation of the LCAE of multistage systems, which appears smaller than the correct value if correlated input costs are treated as uncorrelated. (authors)

  6. Carbon Emission Reduction with Capital Constraint under Greening Financing and Cost Sharing Contract.

    Science.gov (United States)

    Qin, Juanjuan; Zhao, Yuhui; Xia, Liangjie

    2018-04-13

    Motivated by the industrial practices, this work explores the carbon emission reductions for the manufacturer, while taking into account the capital constraint and the cap-and-trade regulation. To alleviate the capital constraint, two contracts are analyzed: greening financing and cost sharing. We use the Stackelberg game to model four cases as follows: (1) in Case A1, the manufacturer has no greening financing and no cost sharing; (2) in Case A2, the manufacturer has greening financing, but no cost sharing; (3) in Case B1, the manufacturer has no greening financing but has cost sharing; and, (4) in Case B2, the manufacturer has greening financing and cost sharing. Then, using the backward induction method, we derive and compare the equilibrium decisions and profits of the participants in the four cases. We find that the interest rate of green finance does not always negatively affect the carbon emission reduction of the manufacturer. Meanwhile, the cost sharing from the retailer does not always positively affect the carbon emission reduction of the manufacturer. When the cost sharing is low, both of the participants' profits in Case B1 (under no greening finance) are not less than that in Case B2 (under greening finance). When the cost sharing is high, both of the participants' profits in Case B1 (under no greening finance) are less than that in Case B2 (under greening finance).

  7. Carbon Emission Reduction with Capital Constraint under Greening Financing and Cost Sharing Contract

    Science.gov (United States)

    Qin, Juanjuan; Zhao, Yuhui; Xia, Liangjie

    2018-01-01

    Motivated by the industrial practices, this work explores the carbon emission reductions for the manufacturer, while taking into account the capital constraint and the cap-and-trade regulation. To alleviate the capital constraint, two contracts are analyzed: greening financing and cost sharing. We use the Stackelberg game to model four cases as follows: (1) in Case A1, the manufacturer has no greening financing and no cost sharing; (2) in Case A2, the manufacturer has greening financing, but no cost sharing; (3) in Case B1, the manufacturer has no greening financing but has cost sharing; and, (4) in Case B2, the manufacturer has greening financing and cost sharing. Then, using the backward induction method, we derive and compare the equilibrium decisions and profits of the participants in the four cases. We find that the interest rate of green finance does not always negatively affect the carbon emission reduction of the manufacturer. Meanwhile, the cost sharing from the retailer does not always positively affect the carbon emission reduction of the manufacturer. When the cost sharing is low, both of the participants’ profits in Case B1 (under no greening finance) are not less than that in Case B2 (under greening finance). When the cost sharing is high, both of the participants’ profits in Case B1 (under no greening finance) are less than that in Case B2 (under greening finance). PMID:29652859

  8. Taxes, bankruptcy costs, and capital structure in for-profit and not-for-profit hospitals.

    Science.gov (United States)

    Huang, Sean S; Yang, Jie; Carroll, Nathan

    2018-02-01

    About 60% of the US hospitals are not-for-profit and it is not clear how traditional theories of capital structure should be adapted to understand the borrowing behavior of not-for-profit hospitals. This paper identifies important determinants of capital structure taken from theories describing for-profit firms as well as prior literature on not-for-profit hospitals. We examine the differential effects these factors have on the capital structure of for-profit and not-for-profit hospitals. Specifically, we use a difference-in-differences regression framework to study how differences in leverage between for-profit and not-for-profit hospitals change in response to key explanatory variables (i.e. tax rates and bankruptcy costs). The sample in this study includes most US short-term general acute hospitals from 2000 to 2012. We find that personal and corporate income taxes and bankruptcy costs have significant and distinct effects on the capital structure of for-profit and not-for-profit hospitals. Specifically, relative to not-for-profit hospitals: (1) higher corporate income tax encourages for-profit hospitals to increase their debt usage; (2) higher personal income tax discourages for-profit hospitals to use debt; and (3) higher expected bankruptcy costs lead for-profit hospitals to use less debt. Over the past decade, the capital structure of for-profit hospitals has been more flexible as compared to that of not-for-profit hospitals. This may suggest that not-for-profit hospitals are more constrained by external financing resources. Particularly, our analysis suggests that not-for-profit hospitals operating in states with high corporate taxes but low personal income taxes may face particular challenges of borrowing funds relative to their for-profit competitors.

  9. Comparison of initial capital investment requirements for new domestic energy supplies: 1980 update

    International Nuclear Information System (INIS)

    Schlesinger, B.; Hay, N.E.; Wilkinson, P.

    1980-01-01

    A.G.A.'s update of its 1978 analysis comparing the initial capital investments required for several domestic sources of alternative energy (coal conversion, oil shale, unconventional natural gas, Alaskan gas, nuclear power, and solar energy) concludes that US energy-supply and utilization systems based on gaseous fuels need substantially less initial capital investment than do equivalent nuclear, coal, and solar electric systems or synthetic-liquids systems. The capital estimates include the costs of resource extraction, processing and conversion, transmission and distribution, and end-use equipment. The cost advantages shown for the three end-use applications compared - residential and small-commercial space heating, premium industrial usage, and large industrial boilers - reflect both the lower capital requirements and higher energy efficiencies of the gaseous systems

  10. A Tuscan Capital from Rusellae: Comparisons and Hypotheses

    Directory of Open Access Journals (Sweden)

    Antonio Dell'Acqua

    2012-10-01

    Full Text Available This paper presents the analysis of a heart-shaped Tuscan capital, avoid of context, found in Rusellae. Its shape allows to attribute it hypothetically to an arcaded structure identified with the Forum. Currently it is one of the few know evidences in Italy, where the heart-shaped pillar was not frequently used in Roman architecture. It also allows a better understanding of the restoration of the Forum during the Imperial era.

  11. Should large Spanish municipalities be financially compensated? Costs and benefits of being a capital/central municipality [WP-IEB

    OpenAIRE

    Bosch Roca, Núria; Espasa Queralt, Marta; Montolio, Daniel

    2013-01-01

    This paper analyse the costs and benefits of being a capital or central municipality, where central costs are understood to be incurred specifically as a result of the problems large municipalities located at the centre of an urban agglomeration face and capital costs are understood to result from the presence of regional and/or central government institutions in the municipality. However, these two qualities might also be beneficial to municipalities, resulting in a direct increase in their ...

  12. RISIKO INVESTASI, BID-ASK SPREAD, DAN COST OF EQUITY CAPITAL DI PASAR MODAL INDONESIA

    Directory of Open Access Journals (Sweden)

    Agus Haryono

    2017-03-01

    Full Text Available A number of studies investigated how financial information affected investment decisions. The study extendedthis line of research by examining the effect of risk, proxied by price per share, number of shareholders, numberof dealers, trading volume, accounting risk and market risk measures on the bid ask spread. Further, theresearch tried to test the relationship between bid ask spread and cost of equity capital. The samples of thisresearch were the manufacturing companies listed at Indonesian Stock Exchange which shared the dividendfor 3 years; there were 40 companies. Data analysis technique used multiple regression analysis. The results ofregression provided evidence of statistically significant effect of price per share, market value, asset size andprice variability on bid ask spread. At last, there was a positive relationship between bid ask spread and cost ofequity capital

  13. Conservatism and the Cost of Equity Capital: a Multi-dimensional Measurement Approach

    OpenAIRE

    Gamaliel, Hendrik; Sugiri, Slamet

    2013-01-01

    Conservatism is a permanent phenomenon and issue in the accounting practice. It has beendeveloping in two forms, ex ante and ex post, measured in various ways—the accruals,valuation model, and book-to-market measures. Prior studies document inconclusive findingson the association between conservatism and the cost of equity capital. These inconsistentfindings motivate us to examine whether the various measures of conservatism have differenteffects on the relationship between conservatism and t...

  14. Demand of Insurance under the Cost-of-Capital Premium Calculation Principle

    Directory of Open Access Journals (Sweden)

    Michael Merz

    2014-06-01

    Full Text Available We study the optimal insurance design problem. This is a risk sharing problem between an insured and an insurer. The main novelty in this paper is that we study this optimization problem under a risk-adjusted premium calculation principle for the insurance cover. This risk-adjusted premium calculation principle uses the cost-of-capital approach as it is suggested (and used by the regulator and the insurance industry.

  15. Comparing methodologies for the allocation of overhead and capital costs to hospital services.

    Science.gov (United States)

    Tan, Siok Swan; van Ineveld, Bastianus Martinus; Redekop, William Ken; Hakkaart-van Roijen, Leona

    2009-06-01

    Typically, little consideration is given to the allocation of indirect costs (overheads and capital) to hospital services, compared to the allocation of direct costs. Weighted service allocation is believed to provide the most accurate indirect cost estimation, but the method is time consuming. To determine whether hourly rate, inpatient day, and marginal mark-up allocation are reliable alternatives for weighted service allocation. The cost approaches were compared independently for appendectomy, hip replacement, cataract, and stroke in representative general hospitals in The Netherlands for 2005. Hourly rate allocation and inpatient day allocation produce estimates that are not significantly different from weighted service allocation. Hourly rate allocation may be a strong alternative to weighted service allocation for hospital services with a relatively short inpatient stay. The use of inpatient day allocation would likely most closely reflect the indirect cost estimates obtained by the weighted service method.

  16. Deflationary Expectations and Real Cost of Capital -Micro-Level Estimates of Investment Function in the1990s (in Japanese)

    OpenAIRE

    Satoshi Shimizutani; Terai Akira

    2003-01-01

    The Japanese economy in the 1990s experienced a substantial decrease in the nominal interest rate. The positive effect on the business investment, however, should have been canceled out, since deflationary expectations raised the real cost of capital. In this study, we address this unexplored issue by taking advantage of firm-level micro data. First, we calculate firm-level real cost of capital in the 1990s. Our estimates demonstrate that the speed of reduction in the real cost of capital was...

  17. Influence of Components of Net Working Capital on Costs of Companies Manufacturing Machinery and Equipment in the Czech Republic

    Directory of Open Access Journals (Sweden)

    Zdeněk Motlíček

    2015-01-01

    Full Text Available The approach to working capital management significantly affects the performance of companies. Nevertheless, this effect varies depending on the observed industry and company’s size and it may be assumed that it is also dependent on territory differences. The paper presents an empirical research aiming to identify particular links between net working capital and costs of the company. The outcomes indicate a relatively strong positive correlation between the variables, especially in case of inventory. Furthermore he ratio of financial costs to ordinary costs is low, as well as the impact of net working capital components on financial costs. It follows that a focus on collection period would not lead to significant savings. The findings appropriately complement Czech and foreign literature focused more on impact of net working capital or working capital on profitability indicators. Further studies concerning a more detailed analysis of the influence of net working capital on corporate costs are difficult to be found. The present research has been conducted on medium-sized companies located in the Czech Republic and manufacturing machinery and equipment. The obtained results suggest the most suitable area of focus for optimization of working capital in relation to costs for the types of companies defined above.

  18. Capital cost: pressurized water reactor plant. Commerical electric power cost studies

    International Nuclear Information System (INIS)

    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

  19. The Impact of Corporate Governance and the Cost of Capital in Shipping

    Directory of Open Access Journals (Sweden)

    Vicky Zampeta

    2015-10-01

    Full Text Available Purpose - The main aim of this paper is to analyze the impact of corporate governance and the cost of capital in shipping industry. The present study grasps on a doctoral thesis aiming to analyze the above developments in the shipping industry in general and mostly in the Greek owed shipping companies and how these developments have been evaluated by the top executives based on a market research we have conducted. Design/methodology/approach - The main idea for the consolidation of the results of the regression methodology used is to analyze research hypotheses related to effects of Corporate Governance in the shipping industry, emerged in a previous article by Zampeta (2011 and Thalassinos and Zampeta (2012. The research hypotheses will be explored with econometric methodology to be confirmed or rejected depending on the statistical significance of the coefficients of the factors - variables selected and express their respective cases. The specific way of analyzing the answers from the questionnaires used sufficiently cover the concept of triangulation (triangulation because they use primary research data (sample analysis questionnaires, with acceptable bibliography concerning the impact of globalization and the evolution international trade financing cost of shipping enterprises. There is a need to exploit the results of the factorial analysis used by Zampeta (2011, Thalassinos and Zampeta (2012 and Thalassinos and Zampeta (2015 to the methodology of regression to analyze research hypotheses related to the Factor of the Cost of Capital and the Factor of Corporate Governance and their impacts in the Shipping Industry. Findings - The results of the subject research confirm the views of the top executives that specific explanatory variables are forming the factors referring to corporate governance and the cost of capital in the shipping industry. In addition, they have influenced the decision of the shipping companies to adopt the Corporate

  20. Early‐Stage Capital Cost Estimation of Biorefinery Processes: A Comparative Study of Heuristic Techniques

    Science.gov (United States)

    Couturier, Jean‐Luc; Kokossis, Antonis; Dubois, Jean‐Luc

    2016-01-01

    Abstract Biorefineries offer a promising alternative to fossil‐based processing industries and have undergone rapid development in recent years. Limited financial resources and stringent company budgets necessitate quick capital estimation of pioneering biorefinery projects at the early stages of their conception to screen process alternatives, decide on project viability, and allocate resources to the most promising cases. Biorefineries are capital‐intensive projects that involve state‐of‐the‐art technologies for which there is no prior experience or sufficient historical data. This work reviews existing rapid cost estimation practices, which can be used by researchers with no previous cost estimating experience. It also comprises a comparative study of six cost methods on three well‐documented biorefinery processes to evaluate their accuracy and precision. The results illustrate discrepancies among the methods because their extrapolation on biorefinery data often violates inherent assumptions. This study recommends the most appropriate rapid cost methods and urges the development of an improved early‐stage capital cost estimation tool suitable for biorefinery processes. PMID:27484398

  1. 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.

  2. Figuring what’s fair: The cost of equity capital for renewable energy in emerging markets

    International Nuclear Information System (INIS)

    Donovan, Charles; Nuñez, Laura

    2012-01-01

    The appropriate cost of capital for a renewable energy project depends upon an accurate measure of investment risk. Employing the conceptual framework of a commonly accepted asset pricing model, we analyze the risk faced by renewable energy investors in large emerging markets. We find that firms in Brazil, China and India expose multinational investors to the same risk as investing in emerging markets generally. The risk to domestic investors in those same firms ranges from substantially below-average to above-average, depending upon the country. The results are robust across several model versions and statistical techniques. With an eye toward government efforts to encourage the deployment of renewable energy in developing countries, we establish a range of estimates for the required return on equity capital in this fast-growing and politically important economic sector.

  3. 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.

  4. Computer programs for capital cost estimation, lifetime economic performance simulation, and computation of cost indexes for laser fusion and other advanced technology facilities

    International Nuclear Information System (INIS)

    Pendergrass, J.H.

    1978-01-01

    Three FORTRAN programs, CAPITAL, VENTURE, and INDEXER, have been developed to automate computations used in assessing the economic viability of proposed or conceptual laser fusion and other advanced-technology facilities, as well as conventional projects. The types of calculations performed by these programs are, respectively, capital cost estimation, lifetime economic performance simulation, and computation of cost indexes. The codes permit these three topics to be addressed with considerable sophistication commensurate with user requirements and available data

  5. 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…

  6. 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.

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

    International Nuclear Information System (INIS)

    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. 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.

  9. 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...

  10. Laparoscopic and abdominal hysterectomy: a cost comparison.

    Science.gov (United States)

    Tsaltas, J; Magnus, A; Mamers, P M; Lawrence, A S; Lolatgis, N; Healy, D L

    1997-02-17

    To compare the cost of laparoscopically assisted vaginal hysterectomy (LAVH) with that of total abdominal hysterectomy (TAH) under casemix. Retrospective comparison of the costs, operating time and length of hospital stay. The 16 women undergoing consecutive LAVH and 16 age-matched women undergoing TAH between 1 February 1994 and 31 July 1995; all women were public patients undergoing hysterectomy for benign disease. Monash Medical Centre, a large tertiary teaching hospital in Melbourne, Australia, where casemix is used to determine funding and budget allocation. The difference between the costs of the two procedures was not statistically significant (P = 0.5), despite the cost of laparoscopic hysterectomy including that of disposables. The mean operating time for TAH was 86 minutes (95% CI, 65.5-106.5), compared with 120 minutes (95% CI, 100.8-140.5) for LAVH (P < 0.01). The mean length of stay in the TAH group was 5.75 days, compared with 3.25 days in the LAVH group (P < 0.001). In hysterectomy for benign gynaecological disease, the laparoscopic procedure costs the same as the total abdominal procedure. Audit such as this is important in patient management and in guiding hospitals in funding and bed allocation.

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

    International Nuclear Information System (INIS)

    Clark, Woodrow W. II.; Li, Xing

    2010-01-01

    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 Provinces to ''leap frog ''the mistakes of other developed nations. Further lessons will be learned from provinces and

  12. 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

  13. Secondary tax and its effect on the cost of capital and shareholder value of South African JSE listed companies

    Directory of Open Access Journals (Sweden)

    J. H.v.H De Wet

    2008-12-01

    Full Text Available Background: The introduction of a secondary tax on companies (STC and the lowering of the normal income tax rate in 1993 constituted a dramatic change in the tax structure of South African organisations. The original intention of these changes was to encourage organisations to re-invest profits to make use of capital investment opportunities. It was also anticipated that these tax changes would lower the cost of capital of organisations. Problem investigated: Announcements during the 2007 budget again raised questions about how the proposed changes in STC would affect the value of organisations. The impact of these tax changes has been the topic of some speculation in the absence of concrete research results to date. Purpose: The purpose of this study was to investigate the effect of these tax changes and all subsequent changes since 1993 on the cost of capital and shareholder value. Approach: A model of a hypothetical company, representing the 'average' listed South African organisation was used to determine the effect of the introduction of STC and the changes to the STC and company tax rate on the cost of capital and the value of the organisation. Findings: The study found that, contrary to expectations, the tax changes actually caused the cost of capital to go up. Overall, the combined effect of the higher cost of capital and the lower company tax rate caused the theoretical value of organisations to increase, constituting an improvement of shareholder value. Value of research: It is the first local study that endeavoured to analyse and quantify the impact of the introduction of STC and the lowering of the company tax rate on the cost of capital and the value of organisations. Conclusion: The introduction of STC in and the lowering of the company tax rate in 1993, as well as changes to these two forms of taxes since then, seem to have been justified in terms of shareholder value creation.

  14. Regional comparison of nuclear and fossil electric power generation costs

    International Nuclear Information System (INIS)

    Bowers, H.I.

    1984-01-01

    Nuclear's main disadvantages are its high capital investment cost and uncertainty in schedule compared with alternatives. Nuclear plant costs continue to rise whereas coal plant investment costs are staying relative steady. Based on average experience, nuclear capital investment costs are nearly double those of coal-fired generation plants. The capital investment cost disadvantage of nuclear is balanced by its fuel cost advantages. New base load nuclear power plants were projected to be competitive with coal-fired plants in most regions of the country. Nuclear power costs wre projected to be significantly less (10% or more) than coal-fired power costs in the South Atlantic region. Coal-fired plants were projected to have a significant economic advantage over nuclear plants in the Central and North Central regions. In the remaining seven regions, the levelized cost of power from either option was projected to be within 10%. Uncertainties in future costs of materials, services, and financing affect the relative economics of the nuclear and coal options significantly. 10 figures

  15. Effect of increased regulation on capital costs and manual labor requirements of nuclear power plants

    International Nuclear Information System (INIS)

    Paik, S.; Schriver, W.R.

    1981-01-01

    An attempt is made to explain the impact of increasing governmental regulation on capital costs and labor requirements for constructing light water reactor (LWR) electric power plants. The principal factors contributing to these increases are: (1) market conditions and (2) increased regulation. General market conditions include additional costs attributable to price inflation of equipment, material, labor, and the increased cost of money. The central objective of this work is to estimate the impact of increasing regulation on plant costs and, conversely, on output. To do this it is necessary to isolate two opposing sets of forces which have been in operation during the period of major regulatory expansion: learning based upon plant design experience and economies of scale with increasing size (generating capacity) of newer plants. Conceptual models are specified to capture the independent effects of increasing regulation, learning, and economies of scale. Empirical results were obtained by estimating the models on data collected from industry experience during the 1967-1980 period. 23 refs

  16. Final radioactive waste disposal: A European comparison of organization and costs

    International Nuclear Information System (INIS)

    Drasdo, P.

    2000-01-01

    The investigation is aimed to the comparison of organization structures of operators (plants) and governmental institutions concerned with the final disposal of radioactive waste. The study is covering Germany, France, United Kingdom and Sweden. The capital amount of total final disposal costs are the highest in Germany, the lowest in Sweden. This is also true for the final disposal costs that have to be financed by electricity production from nuclear power plants. The reasons for the differences with respect to economic efficiencies, political decisions and technical concepts are discussed

  17. 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.

  18. Provision of capital for shutdown, dismantling and disposal. Cost risks and proposals for reform for a responsibility related financing

    International Nuclear Information System (INIS)

    Kuechler, Swantje; Meyer, Bettina; Wronski, Rupert

    2014-01-01

    In Germany the latest discussion on the cost of nuclear phase-out, dismantling and waste disposal has shown that the provision of capital by the concerned companies for these challenges and the actual regulations are not sufficient for a long-term financing security. The study presents a reform concept including the need of improved transparency on the provision of capital, a differentiated financial statement, the introduction of a stock under public law for insolvency protection including a financing responsibility for the companies and subsequent payments in case of cost increase, and an increase of protection in case of insolvency.

  19. Productivity Losses Associated with Head and Neck Cancer Using the Human Capital and Friction Cost Approaches.

    Science.gov (United States)

    Pearce, Alison M; Hanly, Paul; Timmons, Aileen; Walsh, Paul M; O'Neill, Ciaran; O'Sullivan, Eleanor; Gooberman-Hill, Rachael; Thomas, Audrey Alforque; Gallagher, Pamela; Sharp, Linda

    2015-08-01

    Previous studies suggest that productivity losses associated with head and neck cancer (HNC) are higher than in other cancers. These studies have only assessed a single aspect of productivity loss, such as temporary absenteeism or premature mortality, and have only used the Human Capital Approach (HCA). The Friction Cost Approach (FCA) is increasingly recommended, although has not previously been used to assess lost production from HNC. The aim of this study was to estimate the lost productivity associated with HNC due to different types of absenteeism and premature mortality, using both the HCA and FCA. Survey data on employment status were collected from 251 HNC survivors in Ireland and combined with population-level survival estimates and national wage data. The cost of temporary and permanent time off work, reduced working hours and premature mortality using both the HCA and FCA were calculated. Estimated total productivity losses per employed person of working age were EUR253,800 using HCA and EUR6800 using FCA. The main driver of HCA costs was premature mortality (38% of total) while for FCA it was temporary time off (73% of total). The productivity losses associated with head and neck cancer are substantial, and return to work assistance could form an important part of rehabilitation. Use of both the HCA and FCA approaches allowed different drivers of productivity losses to be identified, due to the different assumptions of the two methods. For future estimates of productivity losses, the use of both approaches may be pragmatic.

  20. Uncertainties in early-stage capital cost estimation of process design – a case study on biorefinery design

    DEFF Research Database (Denmark)

    Cheali, Peam; Gernaey, Krist; Sin, Gürkan

    2015-01-01

    Capital investment, next to the product demand, sales, and production costs, is one of the key metrics commonly used for project evaluation and feasibility assessment. Estimating the investment costs of a new product/process alternative during early-stage design is a challenging task, which......) the Monte Carlo technique as an error propagation method based on expert input when cost data are not available. Four well-known models for early-stage cost estimation are reviewed and analyzed using the methodology. The significance of uncertainties of cost data for early-stage process design...

  1. The Effect of Intellectual Capital on Cost of Finance and Firm Value

    OpenAIRE

    Mohsen Iranmahd; Mahmoud Moeinaddin; Nasim Shahmoradi; Forough Heyrani

    2014-01-01

    In today's knowledge-based industry, the role of intellectual capitals in creating value for the business units is more effective than financial capitals. The accounting system plays a crucial role in finding appropriate strategies for achieving suitable methods of evaluating intellectual capitals. One of the most significant shortcomings of traditional accounting systems is that it doesn't reflect the intellectual capital value in financial reports of business units. Collecting the data from...

  2. A COMPARISON OF BASIC AND EXTENDED MARKOWITZ MODEL ON CROATIAN CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    Bruna Škarica

    2012-12-01

    Full Text Available Markowitz' mean - variance model for portfolio selection, first introduced in H.M. Markowitz' 1952 article, is one of the best known models in finance. However, the Markowitz model is based on many assumptions about financial markets and investors, which do not coincide with the real world. One of these assumptions is that there are no taxes or transaction costs, when in reality all financial products are subject to both taxes and transaction costs – such as brokerage fees. In this paper, we consider an extension of the standard portfolio problem which includes transaction costs that arise when constructing an investment portfolio. Finally, we compare both the extension of the Markowitz' model, including transaction costs, and the basic model on the example of the Croatian capital market.

  3. 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

  4. 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.

  5. 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.

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

    International Nuclear Information System (INIS)

    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

  7. An Empirical Analysis On How Conservatism Influences Cost Of Equity Capital: Evidence From Turkey

    Directory of Open Access Journals (Sweden)

    Mehtap Öner

    2017-07-01

    Full Text Available An extensive review of literature focusing on theoretical and analytical studies reveals that equitymarkets will benefit from accounting conservatism due to the increase in overall informationquality. Conditional conservatism, which is evaluated as to the asymmetry between the impact ofgood and bad news on earnings, is regarded to be a substitute of discretionary disclosure. Therefore,as the firms increase the extent of their voluntary disclosures, the cost of raising capital is alleviatedsince this cost depends on how much information is attained by the firms’ potential investors.This study conducts a two stage analysis on a data set of nonfinancial firms listed on Borsa Istanbul2005-2014, inclusive. Accordingly, the existence of conditional conservatism is tested by usingcross-sectional regression based on the asymmetric timeliness model developed by Basu (1997modified by Khan and Watts (2009. Consequently, the resulting firm-year measure of conditionalconservatism is used as the explanatory variable of the panel data analysis. The originality of the paperstems from the fact that it attempts to provide evidence on the economic consequences of discretionaryaccounting practices from Turkey in this specific strand of literature related to the equityinvestors’ required rates of return.

  8. Trends in Opportunity Costs of U.S. Postsecondary Education: A National HRD and Human Capital Theory Analysis

    Science.gov (United States)

    Cornacchione, Edgard; Daugherty, Jenny L.

    2013-01-01

    The purpose of this study was to explore opportunity costs of postsecondary education in the U.S. in the past three decades (1975-2005), as a measure to support investment decisions at national levels and as experienced by individuals deciding on pursuing further education. Based on human capital theory and inspired by a set of studies aiming at…

  9. 10 CFR Appendix I to Part 504 - Procedures for the Computation of the Real Cost of Capital

    Science.gov (United States)

    2010-01-01

    ... I Appendix I to Part 504 Energy DEPARTMENT OF ENERGY (CONTINUED) ALTERNATE FUELS EXISTING... parameters specified above are not obtainable, alternate parameters that closely correspond to those above... common equity, an alternate methodology to predict the firm's real after-tax marginal cost of capital may...

  10. Preliminary design and estimate of capital and operating costs for a production scale application of laser decontamination technology

    International Nuclear Information System (INIS)

    Pang, Ho-ming; Edelson, M.C.

    1994-01-01

    The application of laser ablation technology to the decontamination of radioactive metals, particularly the surfaces of equipment, is discussed. Included is information related to the design, capital and operating costs, and effectiveness of laser ablation technology, based on commercial excimer and Nd:YAG lasers, for the decontamination of production scale equipment

  11. Capital cost expenditure of high temperature latent and sensible thermal energy storage systems

    Science.gov (United States)

    Jacob, Rhys; Saman, Wasim; Bruno, Frank

    2017-06-01

    In the following study cost estimates have been undertaken for an encapsulated phase change material (EPCM) packed bed, a packed bed thermocline and a traditional two-tank molten salt system. The effect of various heat transfer fluids (air and molten salt), system configuration (cascade vs one PCM, and direct vs indirect) and temperature difference (ΔT = 100-500 °C) on the cost estimate of the system was also investigated. Lastly, the storage system boundary was expanded to include heat exchangers, pumps and fans, and heat tracing so that a thorough cost comparison could be undertaken. The results presented in this paper provide a methodology to quickly compare various systems and configurations while providing design limits for the studied technologies.

  12. The financial cost of doctors emigrating from sub-Saharan Africa: human capital analysis.

    Science.gov (United States)

    Mills, Edward J; Kanters, Steve; Hagopian, Amy; Bansback, Nick; Nachega, Jean; Alberton, Mark; Au-Yeung, Christopher G; Mtambo, Andy; Bourgeault, Ivy L; Luboga, Samuel; Hogg, Robert S; Ford, Nathan

    2011-11-23

    To estimate the lost investment of domestically educated doctors migrating from sub-Saharan African countries to Australia, Canada, the United Kingdom, and the United States. Human capital cost analysis using publicly accessible data. Sub-Saharan African countries. Nine sub-Saharan African countries with an HIV prevalence of 5% or greater or with more than one million people with HIV/AIDS and with at least one medical school (Ethiopia, Kenya, Malawi, Nigeria, South Africa, Tanzania, Uganda, Zambia, and Zimbabwe), and data available on the number of doctors practising in destination countries. The financial cost of educating a doctor (through primary, secondary, and medical school), assuming that migration occurred after graduation, using current country specific interest rates for savings converted to US dollars; cost according to the number of source country doctors currently working in the destination countries; and savings to destination countries of receiving trained doctors. In the nine source countries the estimated government subsidised cost of a doctor's education ranged from $21,000 (£13,000; €15,000) in Uganda to $58,700 in South Africa. The overall estimated loss of returns from investment for all doctors currently working in the destination countries was $2.17bn (95% confidence interval 2.13bn to 2.21bn), with costs for each country ranging from $2.16m (1.55m to 2.78m) for Malawi to $1.41bn (1.38bn to 1.44bn) for South Africa. The ratio of the estimated compounded lost investment over gross domestic product showed that Zimbabwe and South Africa had the largest losses. The benefit to destination countries of recruiting trained doctors was largest for the United Kingdom ($2.7bn) and United States ($846m). Among sub-Saharan African countries most affected by HIV/AIDS, lost investment from the emigration of doctors is considerable. Destination countries should consider investing in measurable training for source countries and strengthening of their

  13. Measuring Capital

    OpenAIRE

    W. Erwin Diewert

    2003-01-01

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

  14. 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.

  15. 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.

  16. A comparison of hospital administrative costs in eight nations: US costs exceed all others by far.

    Science.gov (United States)

    Himmelstein, David U; Jun, Miraya; Busse, Reinhard; Chevreul, Karine; Geissler, Alexander; Jeurissen, Patrick; Thomson, Sarah; Vinet, Marie-Amelie; Woolhandler, Steffie

    2014-09-01

    A few studies have noted the outsize administrative costs of US hospitals, but no research has compared these costs across multiple nations with various types of health care systems. We assembled a team of international health policy experts to conduct just such a challenging analysis of hospital administrative costs across eight nations: Canada, England, Scotland, Wales, France, Germany, the Netherlands, and the United States. We found that administrative costs accounted for 25.3 percent of total US hospital expenditures--a percentage that is increasing. Next highest were the Netherlands (19.8 percent) and England (15.5 percent), both of which are transitioning to market-oriented payment systems. Scotland and Canada, whose single-payer systems pay hospitals global operating budgets, with separate grants for capital, had the lowest administrative costs. Costs were intermediate in France and Germany (which bill per patient but pay separately for capital projects) and in Wales. Reducing US per capita spending for hospital administration to Scottish or Canadian levels would have saved more than $150 billion in 2011. This study suggests that the reduction of US administrative costs would best be accomplished through the use of a simpler and less market-oriented payment scheme. Project HOPE—The People-to-People Health Foundation, Inc.

  17. Perspectives on Monetary Policy and Cost of Capital: Evidence from Turkey

    Directory of Open Access Journals (Sweden)

    Turguttopbas Neslihan

    2017-05-01

    Full Text Available The target of monetary policy is generally set as to create an environment of manageable employment and affordable long-term interest rates. However, priorities of central banks may differ depending on economic and financial circumstances of individual countries. Modern approaches to monetary policy transmission can be grouped under two headings, Money View and Credit View. The money view concentrates on interest rates to explain the effects of monetary policy on aggregate spending by creating an interest rate channel. The credit channel transmission approach focuses on the supply of credits by banks following a monetary policy shift in interest rates. In 2010, the Central Bank of Turkey (CBT developed an interest rate corridor shaped by one-week and overnight repo lending to the financial banks to absorb excessive volatility caused by short-term capital inflows. Under this framework, the CBT implements its monetary policy in two ways; firstly it can alter the interest rates of weekly repo as well as O/N lending rate. Secondly, it can configure the funding structure it provides to the financial intermediaries. In such a framework, the interest rate transmission mechanism has been operated by two benchmark interest rates, one of which is the weighted average of the cost of funds provided by the CBT and the other is the interest rate in Borsa Istanbul (BIST money market transactions at an overnight maturity. There is a strong co-movement between the interest rates and they are affected by the movements in the CBT lending rate in both directions. Interest rates applied to deposits and loans by banks are affected by the policy rate (CBT Average Funding Rate and the market rate (BIST O/N Repo Rate.

  18. The Effects of Tax Avoidance, Accrual Earnings Management, Real Earnings Management, and Capital Intensity on the Cost of Equity

    OpenAIRE

    Amrie Firmansyah; Ahmad Sigid Febriyanto

    2018-01-01

    This study aims to examine the effects of tax avoidance, accrual profit management, real profit management, and capital intensity on equity costs. The population of this study is a manufacturing company listed on the Indonesia Stock Exchange which amounted to 146 companies. The sampling technique used was purposive sampling and resulted in 420 units of analysis. This type of research is quantitative causality by performing hypothesis testing analysis is done by using multiple linear regressio...

  19. Cost comparison between base-load coal-fired and nuclear plants in the midterm future (1985--2015)

    International Nuclear Information System (INIS)

    Phung, D.L.

    1976-09-01

    The purpose of this study is to examine the relative costs of the coal and nuclear modes of electricity generation in the period between 1985 and 2015. These two modes of power generation are likely to be the mainstay source of electric power in the United States for that time period. A thorough understanding of their competitiveness not only is important in utility companies' decisions to go one route or the other but also is important to the government and the public when answers must be found for difficult questions, such as economic and environmental implications of a massive societal leaning toward one or the other option. In this study, the primary and secondary factors that affect the cost comparison of coal-fired and nuclear plant options for the midterm future have been separated and arranged so that they can be examined systematically. Estimated inflation of the economy and net fuel cost increases are internalized in the determination of life-cycle levelized cost of electricity in several plausible scenarios. Baseline data for capital and operating costs at beginning-of-life are determined by the tax rate, the expected rate of inflation at the time of capitalization, the net rate of fuel cost increases, and future eventualities of inflation. Other factors such as plant life spans, capacity factors, changes in baseline capital, and fuel cost are considered in sensitivity studies

  20. Business capital accumulation and the user cost: is there a heterogeneity bias? JRC Working Papers in Economics and Finance, 2017/11

    OpenAIRE

    FATICA SERENA

    2017-01-01

    Empirical models of capital accumulation estimated on aggregate data series are based on the assumption that capital asset types respond in the same way to cost variables. Likewise, aggregate models do not consider potential heterogeneity in investment behavior originating on the demand side for capital, e.g. at the sector level. We show that the underlying assumption of homogeneity may indeed lead to misspecification of standard aggregate investment models. Using data from 23 sectors in 10 O...

  1. 42 CFR 413.130 - Introduction to capital-related costs.

    Science.gov (United States)

    2010-10-01

    ... rental charges in paragraph (b)(9)(i) of this section, must be used in calculating the limitation on... productivity of an asset significantly over its original productivity. (2) A provider must capitalize and...

  2. Cost Comparison Of Expendable, Hybrid and Reusable Launch Vehicles

    National Research Council Canada - National Science Library

    Gstattenbauer, Greg J

    2006-01-01

    .... This comparison was accomplished using top level mass and cost estimating relations (MERs, CERs). Mass estimating relationships were correlated to existing launch system data and ongoing launch system studies...

  3. 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

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

    International Nuclear Information System (INIS)

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

    2004-08-01

    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 constrained to provide a rate of return. The

  5. Direct cost comparison of totally endoscopic versus open ear surgery.

    Science.gov (United States)

    Patel, N; Mohammadi, A; Jufas, N

    2018-02-01

    Totally endoscopic ear surgery is a relatively new method for managing chronic ear disease. This study aimed to test the null hypothesis that open and endoscopic approaches have similar direct costs for the management of attic cholesteatoma, from an Australian private hospital setting. A retrospective direct cost comparison of totally endoscopic ear surgery and traditional canal wall up mastoidectomy for the management of attic cholesteatoma in a private tertiary setting was undertaken. Indirect and future costs were excluded. A direct cost comparison of anaesthetic setup and resources, operative setup and resources, and surgical time was performed between the two techniques. Totally endoscopic ear surgery has a mean direct cost reduction of AUD$2978.89 per operation from the hospital perspective, when compared to canal wall up mastoidectomy. Totally endoscopic ear surgery is more cost-effective, from an Australian private hospital perspective, than canal wall up mastoidectomy for attic cholesteatoma.

  6. Tubing vs. buckets: a cost comparison

    Science.gov (United States)

    Neil K. Huyler

    1975-01-01

    Equipment investment for tubing-vacuum systems was significantly less than that for bucket systems. Tubing-vacuum systems required about 22 percent less labor input, the major labor input being completed before sap-flow periods. Annual cost of operation was less for tubing-vacuum than the bucket system. Small tubing-vacuum operations showed more profit potential than...

  7. Uncertainties in Early Stage Capital Cost Estimation of Process Design – A case study on biorefinery design

    Directory of Open Access Journals (Sweden)

    Gurkan eSin

    2015-02-01

    Full Text Available Capital investment, next to the product demand, sales and production costs, is one of the key metrics commonly used for project evaluation and feasibility assessment. Estimating the investment costs of a new product/process alternative during early stage design is a challenging task. This is especially important in biorefinery research, where available information and experiences with new technologies is limited. A systematic methodology for uncertainty analysis of cost data is proposed that employs (a Bootstrapping as a regression method when cost data is available and (b the Monte Carlo technique as an error propagation method based on expert input when cost data is not available. Four well-known models for early stage cost estimation are reviewed an analyzed using the methodology. The significance of uncertainties of cost data for early stage process design is highlighted using the synthesis and design of a biorefinery as a case study. The impact of uncertainties in cost estimation on the identification of optimal processing paths is found to be profound. To tackle this challenge, a comprehensive techno-economic risk analysis framework is presented to enable robust decision making under uncertainties. One of the results using an order-of-magnitude estimate shows that the production of diethyl ether and 1,3-butadiene are the most promising with economic risks of 0.24 MM$/a and 4.6 MM$/a due to uncertainties in cost estimations, respectively.

  8. PERCEPTION OF THE FINANCIAL MANAGERS OF THE SMALL AND MIDDLE BUSINESS WITH RELATIONSHIP AT THE COST OF CAPITAL

    Directory of Open Access Journals (Sweden)

    Márcio André Veras Machado

    2006-06-01

    Full Text Available This article has as purpose to analyze the degree of the financial managers' perception among small and middle organizations about the capital cost. The data were collected within 27 companies in 10 sections of the Brazilian economy. The method chosen for data collection relies greatly on personal interviews based on route previously elaborated. The interviews demonstrated that most of the interviewees even does not know about the cost of equity. The ones who know about it, in its majority, measure like as the minimum rate of profitability, measured for the cost of lost opportunity. In the regard of the cost of debt, most of them know and were unanimous to confirm that the cost of debt is explicit and it already comes defined by the financial institutions, in its contracts. It was observed that among the managers interviewed which affirmed to know the cost of equity and cost of debt, the great part were in the management position, had college degree in accounting or engineering,, had more than 15 years of experience in these functions, had over 40 years, worked within companies 21 years old and over in the market, and were basically male. Key-words: Cost of Equity, Cost of Debt, Small and Middle Business.

  9. The Effects of Tax Avoidance, Accrual Earnings Management, Real Earnings Management, and Capital Intensity on the Cost of Equity

    Directory of Open Access Journals (Sweden)

    Amrie Firmansyah

    2018-03-01

    Full Text Available This study aims to examine the effects of tax avoidance, accrual profit management, real profit management, and capital intensity on equity costs. The population of this study is a manufacturing company listed on the Indonesia Stock Exchange which amounted to 146 companies. The sampling technique used was purposive sampling and resulted in 420 units of analysis. This type of research is quantitative causality by performing hypothesis testing analysis is done by using multiple linear regression model. The findings of this research are tax avoidance will add to the risks that must be borne by investors thus increasing uncertainty over their investment. Investors consider that accrual profit management actions are opportunistic as risk-taking actions as well as real profit management actions. While on Capital Intensity, investors assume the information on the company’s fixed assets is not useful in making investment decisions. The conclusions that can be taken are tax avoidance, accrual profit management, and earnings management real positive to the cost of equity. However, capital intensity has a negative effect.

  10. A joint estimation of price-cost margins and sunk capital. Theory and evidence from the European electricity industry

    International Nuclear Information System (INIS)

    Roeger, W.; Warzynski, F.

    2004-01-01

    In this paper, we propose a new methodology to jointly estimate market power and the importance of sunk capital extending the work of Hall (1988) and Roeger (1995). Wc then apply this new technique to the European electricity industry using firm level data for the period 1994-1999, and analyze the impact of the 1996 European directive to liberalize electricity markets. We find that the average price cost margin has declined from 0.29 in 1994 to 0.22 in 1999. Moreover, the magnitude of the decline is linked to firm size: the largest firms have experienced a larger percentage fall. The variable cost parameter has increased from 0.36 in 1994 to 0.56 in 1999. The main reason of the change is the switch of the relationship between real labor productivity and the share of variable capital. Our results therefore document a more competitive electricity market and a more flexible and more efficient use of capital. (au)

  11. Learning Curve for Seawater Reverse Osmosis Desalination Plants: Capital Cost Trend of the Past, Present, and Future

    Science.gov (United States)

    Caldera, Upeksha; Breyer, Christian

    2017-12-01

    Seawater reverse osmosis (SWRO) desalination is expected to play a pivotal role in helping to secure future global water supply. While the global reliance on SWRO plants for water security increases, there is no consensus on how the capital costs of SWRO plants will vary in the future. The aim of this paper is to analyze the past trends of the SWRO capital expenditures (capex) as the historic global cumulative online SWRO capacity increases, based on the learning curve concept. The SWRO capex learning curve is found based on 4,237 plants that came online from 1977 to 2015. A learning rate of 15% is determined, implying that the SWRO capex reduced by 15% when the cumulative capacity was doubled. Based on SWRO capacity annual growth rates of 10% and 20%, by 2030, the global average capex of SWRO plants is found to fall to 1,580 USD/(m3/d) and 1,340 USD/(m3/d), respectively. A learning curve for SWRO capital costs has not been presented previously. This research highlights the potential for decrease in SWRO capex with the increase in installation of SWRO plants and the value of the learning curve approach to estimate future SWRO capex.

  12. Cost comparison of 4x500 MW coal-fuelled and 4x850 MW CANDU nuclear generating stations

    International Nuclear Information System (INIS)

    Costa, M.

    1981-01-01

    The lifetime costs for a 4x850 MW CANDU generating station are compared to those for 4x500 MW bituminous coal-fuelled generating stations. Two types of coal-fuelled stations are considered; one burning U.S. coal which includes flue gas desulfurization and one burning Western Canadian coal. Current estimates for the capital costs, operation and maintenance costs, fuel costs, decommissioning costs and irradiated fuel management costs are shown. The results show: (1) The accumulated discounted costs of nuclear generation, although initially higher, are lower than coal-fuelled generation after two or three years. (2) Fuel costs provide the major contribution to the total lifetime costs for coal-fuelled stations whereas capital costs are the major item for the nuclear station. (3) The break even lifetime capacity factor between nuclear and U.S. coal-fuelled generation is projected to be 5%; that for nuclear and Canadian coal-fuelled generation is projected to be 9%. (4) Large variations in the costs are required before the cost advantage of nuclear generation is lost. (5) Comparison with previous results shows that the nuclear alternative has a greater cost advantage in the current assessment. (6) The total unit energy cost remains approximately constant throughout the station life for nuclear generation while that for coal-fuelled generation increases significantly due to escalating fuel costs. The 1978 and 1979 actual total unit energy cost to the consumer for several Ontario Hydro stations are detailed, and projected total unit energy costs for several Ontario Hydro stations are shown in terms of escalated dollars and in 1980 constant dollars

  13. Production of solidified high level wastes: a cost comparison of solidification processes

    International Nuclear Information System (INIS)

    1977-06-01

    Differential cost estimates of the annual operating and maintenance costs and the capital costs for five HLW Waste Solidification Alternates were developed. The annual operating and maintenance cost estimates included the cost of labor, consumables, utilities, shipping casks, shipping and disposal at a federal repository. The capital cost included the cost of the component, installation and building. The differential cost estimates do not include equipment and facilities which are either shared with the reprocessing facility or are common between all of the alternates. Total annual cost differential between the five waste form alternates is summarized in tabular form. The Borosilicate Glass Alternate has the lowest total annual cost. The other alternates have higher costs which range from $6.6 M to $7.4 M per year higher than the Glass alternate with the Supercalcine being the highest cost at $7.4 M per year differential. The major items in the cost estimates are then disposal costs in the operating cost estimates and the HLW Storage Tanks in the capital cost estimates. The Supercalcine Multibarrier Alternate ships 180 canisters per year more than the other alternates and consequently has a significantly higher operating cost. However, off-setting this the Supercalcine Multibarrier Alternate does not require HLW Storage Tanks for decay because of the high heat conductivity of this product and correspondingly the capital cost for this alternate is significantly lower than the other alternates. The radiological risk values are correlated with the cost evaluation normalized to cost ($)/MWe-yr

  14. Comparison study on models for calculation of NPP’s levelized unit electricity cost

    International Nuclear Information System (INIS)

    Nuryanti; Mochamad Nasrullah; Suparman

    2014-01-01

    Economic analysis that is generally done through the calculation of Levelized Unit Electricity Cost (LUEC) is crucial to be done prior to any investment decision on the nuclear power plant (NPP) project. There are several models that can be used to calculate LUEC, which are: R&D PT. PLN (Persero) Model, Mini G4ECONS model and Levelized Cost model. This study aimed to perform a comparison between the three models. Comparison technique was done by tracking the similarity used for each model and then given a case of LUEC calculation for SMR NPP 2 x 100 MW using these models. The result showed that the R&D PT. PLN (Persero) Model have a common principle with Mini G4ECONS model, which use Capital Recovery Factor (CRF) to discount the investment cost which eventually become annuity value along the life of plant. LUEC on both models is calculated by dividing the sum of the annual investment cost and the cost for operating NPP with an annual electricity production.While Levelized Cost model based on the annual cash flow. Total of annual costs and annual electricity production were discounted to the first year of construction in order to obtain the total discounted annual cost and the total discounted energy generation. LUEC was obtained by dividing both of the discounted values. LUEC calculations on the three models produce LUEC value, which are: 14.5942 cents US$/kWh for R&D PT. PLN (Persero) Model, 15.056 cents US$/kWh for Mini G4ECONs model and 14.240 cents US$/kWh for Levelized Cost model. (author)

  15. 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.

  16. Uncertainties in Early-Stage Capital Cost Estimation of Process Design – A Case Study on Biorefinery Design

    International Nuclear Information System (INIS)

    Cheali, Peam; Gernaey, Krist V.; Sin, Gürkan

    2015-01-01

    Capital investment, next to the product demand, sales, and production costs, is one of the key metrics commonly used for project evaluation and feasibility assessment. Estimating the investment costs of a new product/process alternative during early-stage design is a challenging task, which is especially relevant in biorefinery research where information about new technologies and experience with new technologies is limited. A systematic methodology for uncertainty analysis of cost data is proposed that employs: (a) bootstrapping as a regression method when cost data are available; and, (b) the Monte Carlo technique as an error propagation method based on expert input when cost data are not available. Four well-known models for early-stage cost estimation are reviewed and analyzed using the methodology. The significance of uncertainties of cost data for early-stage process design is highlighted using the synthesis and design of a biorefinery as a case study. The impact of uncertainties in cost estimation on the identification of optimal processing paths is indeed found to be profound. To tackle this challenge, a comprehensive techno-economic risk analysis framework is presented to enable robust decision-making under uncertainties. One of the results using order-of-magnitude estimates shows that the production of diethyl ether and 1,3-butadiene are the most promising with the lowest economic risks (among the alternatives considered) of 0.24 MM$/a and 4.6 MM$/a, respectively.

  17. Uncertainties in Early-Stage Capital Cost Estimation of Process Design – A Case Study on Biorefinery Design

    Energy Technology Data Exchange (ETDEWEB)

    Cheali, Peam; Gernaey, Krist V.; Sin, Gürkan, E-mail: gsi@kt.dtu.dk [Department of Chemical and Biochemical Engineering, Technical University of Denmark, Lyngby (Denmark)

    2015-02-06

    Capital investment, next to the product demand, sales, and production costs, is one of the key metrics commonly used for project evaluation and feasibility assessment. Estimating the investment costs of a new product/process alternative during early-stage design is a challenging task, which is especially relevant in biorefinery research where information about new technologies and experience with new technologies is limited. A systematic methodology for uncertainty analysis of cost data is proposed that employs: (a) bootstrapping as a regression method when cost data are available; and, (b) the Monte Carlo technique as an error propagation method based on expert input when cost data are not available. Four well-known models for early-stage cost estimation are reviewed and analyzed using the methodology. The significance of uncertainties of cost data for early-stage process design is highlighted using the synthesis and design of a biorefinery as a case study. The impact of uncertainties in cost estimation on the identification of optimal processing paths is indeed found to be profound. To tackle this challenge, a comprehensive techno-economic risk analysis framework is presented to enable robust decision-making under uncertainties. One of the results using order-of-magnitude estimates shows that the production of diethyl ether and 1,3-butadiene are the most promising with the lowest economic risks (among the alternatives considered) of 0.24 MM$/a and 4.6 MM$/a, respectively.

  18. 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... ACCOUNTING STANDARDS BOARD, OFFICE OF FEDERAL PROCUREMENT POLICY, OFFICE OF MANAGEMENT AND BUDGET PROCUREMENT PRACTICES AND COST ACCOUNTING STANDARDS COST ACCOUNTING STANDARDS 9904.409 Cost accounting standard...

  19. Comparisons of hypertension-related costs from multinational clinical studies.

    Science.gov (United States)

    Mullins, C Daniel; Sikirica, Mirko; Seneviratne, Viran; Ahn, Jeonghoon; Akhras, Kasem S

    2004-01-01

    This study identifies and compares the individual cost components of hospital and ambulatory services that manage the care of hypertensive patients in eight countries: the US, the UK, France, Spain, Germany, Italy, Canada and Australia. Hypertension-related costs are classified according to four major cardiovascular events: (i) acute myocardial infarction; (ii) congestive heart failure; (iii) stroke; and (iv) renal failure, which was subdivided into renal failure treated by dialysis and renal failure treated by kidney transplantation. To make cross-country costs comparisons, we used the DRG codes used in the US and DRG-like codes from each country. US cost information was obtained from hypertension data available from the literature and health economics researchers. For costs in other countries, we consulted with national health economics experts in each country, used analyses by the Research Triangle Institute, and performed Medline and international literature searches. When available, we obtained information from the countries' public and private nationally representative data sources. For cross-country currency adjustments, all currencies were converted using the Purchasing Power Parities from the Organisation for Economic Cooperation and Development, and then converted into inflation-adjusted year 2000 US dollars. There exists considerable variation in hypertension-related costs from multinational clinical studies. This study documents that costs are generally higher in the US than in other countries; however, this is not always true. In particular, costs of treating heart failure in France and the costs of renal failure without transplantation in Germany and the UK are relatively high. While analysing multinational hypertensive cost data, this study also addresses the impact of cross-country cost variations on cost analyses. During the last decade, drug-development researchers have drawn extensively upon multinational trials to resolve enrollment problems and

  20. 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

  1. Cost comparison for REDC pretreatment project

    International Nuclear Information System (INIS)

    Robinson, S.M.; Homan, F.J.

    1997-06-01

    This analysis has been prepared to support the planned expenditure to provide the Radiochemical Engineering Development Center (REDC) with the capability to pretreat their liquid low-level waste (LLLW) before discharging it to the Oak Ridge National Laboratory (ORNL) LLLW system. Pretreatment will remove most of the radioactivity, particularly the transuranic isotopes and Cs-137 from the waste to be discharged. This will render the supernates that accumulate in the storage tanks low-activity Class B low-level wastes rather than high-activity Class B or Class C wastes. The sludges will be Class C rather than remote-handled transuranic (RH-TRU) wastes. When REDC wastes are commingled with other ORNL LLLW, the present-worth treatment and transport costs are higher by a factor of 1.3 for the no-pretreatment cases. This result is consistent with data from similar studies conducted at other sites. Based on the information presented in this analysis, the recommendation is to proceed with REDC treatment projects

  2. Strošek lastniškega kapitala podjetja: primer ocene za izbrane slovenske delniške družbe = Cost of Equity Capital: An Example of Evaluation for Selected Slovene Joint-Stock Companies

    Directory of Open Access Journals (Sweden)

    Igor Stubelj

    2009-03-01

    Full Text Available The article sheds light on the evaluation of cost of equity, which is important as it determines the minimum yield the investors require on the invested capital. We use the cost of equity as a discount rate to calculate the present value of the expected free cash flows which belongs to the owners of equity capital. In the article, the methodological solutions for the evaluation of the equity capital cost with the CAPM on the Slovene financial market are shown. The Slovene capital market is a developing market with a short time line of available historical data. We evaluate the equity capital cost for selected Slovene companies.

  3. 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

  4. Capital cost models for geothermal power plants and fluid transmission systems. [GEOCOST

    Energy Technology Data Exchange (ETDEWEB)

    Schulte, S.C.

    1977-09-01

    The GEOCOST computer program is a simulation model for evaluating the economics of developing geothermal resources. The model was found to be both an accurate predictor of geothermal power production facility costs and a valid designer of such facilities. GEOCOST first designs a facility using thermodynamic optimization routines and then estimates costs for the selected design using cost models. Costs generated in this manner appear to correspond closely with detailed cost estimates made by industry planning groups. Through the use of this model, geothermal power production costs can be rapidly and accurately estimated for many alternative sites making the evaluation process much simpler yet more meaningful.

  5. A Comparison of Traditional and Newly Emerging Forms of Cooperative Capitalization

    OpenAIRE

    Barton, David G.

    2004-01-01

    This paper compares the traditional forms of capitalization used by American co-ops to newly emerging forms. It is based on an in-depth review of several case co-ops. A broad framework is provided that may be beneficial in more extensive studies of capitalization practices of cooperatives and similar organizations. It is divided into three parts. Part One outlines the alternative capitalization forms being used by cooperatives and their antecedents, where conversions to other structures and f...

  6. 26 CFR 1.263A-1 - Uniform capitalization of costs.

    Science.gov (United States)

    2010-04-01

    ... costs include costs attributable to processing, assembling, repackaging and transporting goods, and... automation or changes in operation or prices, is not a change in method of accounting under section 446(e). A... standard costs that merely reflects current operating conditions, such as increases in automation or...

  7. How many Enrons? Mark-ups in the stated capital cost of independent power producers' (IPPs') power projects in developing countries

    International Nuclear Information System (INIS)

    Phadke, Amol

    2009-01-01

    I analyze the determinants of the stated capital cost of IPPs' power projects which significantly influences their price of power. I show that IPPs face a strong incentive to overstate their capital cost and argue that effective competition or regulatory scrutiny will limit the extent of the same. I analyze the stated capital costs of combined cycle gas turbine (CCGT) IPP projects in eight developing countries which became operational during 1990-2006 and find that the stated capital cost of projects selected without competitive bidding is 44-56% higher than those selected with competitive bidding, even after controlling for the effect of cost differences among projects. The extent to which the stated capital costs of projects selected without competitive bidding are higher compared those selected with competitive bidding, is a lower bound on the extent to which they are overstated. My results indicate the drawbacks associated with a policy of promoting private sector participation without an adequate focus on improving competition or regulation. (author)

  8. The capital investment and electricity cost of 2 x 600 MW PWR nuclear power plant in China

    International Nuclear Information System (INIS)

    Li Zhihua; Xing Leiming

    1990-01-01

    The capital investment and electricity cost of 2 x 600 MW PWR nuclear power plant in China are studied. If the rate of interest R 1 and of escalation R 2 are 7.2% and 10.0% respectively for RMB and the rate of interest R 1 and of escalation R 2 are 6.5% and 2.0% respectively for MK, the total investment is 9270 M RMB Yuan, the Specific investment is 7320 RMB Yuan/kW, the average selling electricity cost is 0.16 RMB Yuan/(kW·h). If the selling electricity price is 0.24 RMB Yuan/(kW·h), the rate of inner return is 7.7%, the dynamic return period is 13 years, the national income is 15800 M RMB Yuan, the profit of nuclear power plant after taxation is 6800 M RMB Yuan

  9. Constant Leverage And Constant Cost Of Capital: A Common Knowledge Half-Truth

    Directory of Open Access Journals (Sweden)

    Ignacio Vélez–Pareja

    2008-04-01

    In this document we show that for finite cash flows, Ke and hence WACC depend on the discount rate that is used to value the tax shield, TS and as expected, Ke and WACC are not constant with Kd as the discount rate for the tax shield, even if the leverage is constant. We illustrate this situation with a simple example. We analyze five methods: DCF using APV, FCF and traditional and general formulation for WACC, present value of CFE plus debt and Capital Cash Flow, CCF.

  10. Constant leverage and constant cost of capital : A common knowledge half-truth

    OpenAIRE

    Vélez Pareja, Ignacio; Ibragimov, Rauf; Tham , Joseph

    2008-01-01

    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 co...

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

    Directory of Open Access Journals (Sweden)

    Stefania Vignini

    2015-11-01

    Full Text Available 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 process and the cost control, thus guaranteeing the verifiability and representational faithfulness of the information disclosed. This paper is an empirical analysis and is concerned to investigate the financial statements of 250 Italian listed companies.

  12. 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…

  13. Fuel-cycle cost comparisons with oxide and silicide fuels

    International Nuclear Information System (INIS)

    Matos, J.E.; Freese, K.E.

    1982-01-01

    This paper addresses fuel cycle cost comparisons for a generic 10 MW reactor with HEU aluminide fuel and with LEU oxide and silicide fuels in several fuel element geometries. The intention of this study is to provide a consistent assessment of various design options from a cost point of view. Fuel cycle cost benefits could result if a number of reactors were to utilize fuel elements with the same number or different numbers of the same standard fuel plate. Data are presented to quantify these potential cost benefits. This analysis shows that there are a number of fuel element designs using LEU oxide or silicide fuels that have either the same or lower total fuel cycle costs than the HEU design. Use of these fuels with the uranium densities considered requires that they are successfully demonstrated and licensed

  14. 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.

  15. Incidence and direct hospitalisation costs of hip fractures in Vilnius, capital of Lithuania, in 2010

    Directory of Open Access Journals (Sweden)

    Tamulaitiene Marija

    2012-07-01

    Full Text Available Abstract Background Few epidemiological data on hip fractures were previously available in Lithuania. The aim of this study was to estimate the incidence and hospital costs of hip fractures in Vilnius in 2010. Methods Data were collected from the medical charts of all patients admitted to hospitals in Vilnius (population, 548,835 due to new low-energy trauma hip fracture, during 2010. The estimated costs included ambulance transportation and continuous hospitalisation immediately after a fracture, which are covered by the Lithuanian healthcare system. Results The incidence of new low-energy trauma hip fractures was 252 (308 women and 160 men per 100,000 inhabitants of Vilnius aged 50-years or more. There was an exponential increase in the incidence with increasing age. The overall estimated cost of hip fractures in Vilnius was 1,114,292 EUR for the year 2010. The greatest part of the expenditure was accounted for by fractures in individuals aged 65-years and over. The mean cost per case was 2,526.74 EUR, and cost varied depending on the treatment type. Hip replacement did not affect the overall mean costs of hip fracture. The majority of costs were incurred for acute (53% and long-term care (35% hospital stays, while medical rehabilitation accounted for only 12% of the overall cost. The costs of hip fracture were somewhat lower than those found in other European countries. Conclusion The data on incidence and costs of hip fractures will help to assess the importance of interventions to reduce the number of fractures and associated costs.

  16. 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...... clinical benefit and cost-savings, and similar in cost-effectiveness to venlafaxine.......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......, ad-hoc survey and expert opinion. Main outcome measures were remission defined as MADRS costs. Analyses were conducted from healthcare system and societal perspectives. The human capital approach was used to estimate societal cost of lost productivity. Costs were reported...

  17. Individual quality and age but not environmental or social conditions modulate costs of reproduction in a capital breeder.

    Science.gov (United States)

    Debeffe, Lucie; Poissant, Jocelyn; McLoughlin, Philip D

    2017-08-01

    Costs associated with reproduction are widely known to play a role in the evolution of reproductive tactics with consequences to population and eco-evolutionary dynamics. Evaluating these costs as they pertain to species in the wild remains an important goal of evolutionary ecology. Individual heterogeneity, including differences in individual quality (i.e., among-individual differences in traits associated with survival and reproduction) or state, and variation in environmental and social conditions can modulate the costs of reproduction; however, few studies have considered effects of these factors simultaneously. Taking advantage of a detailed, long-term dataset for a population of feral horses (Sable Island, Nova Scotia, Canada), we address the question of how intrinsic (quality, age), environmental (winter severity, location), and social conditions (group size, composition, sex ratio, density) influence the costs of reproduction on subsequent reproduction. Individual quality was measured using a multivariate analysis on a combination of four static and dynamic traits expected to depict heterogeneity in individual performance. Female quality and age interacted with reproductive status of the previous year to determine current reproductive effort, while no effect of social or environmental covariates was found. High-quality females showed higher probabilities of giving birth and weaning their foal regardless of their reproductive status the previous year, while those of lower quality showed lower probabilities of producing foals in successive years. Middle-aged (prime) females had the highest probability of giving birth when they had not reproduced the year before, but no such relationship with age was found among females that had reproduced the previous year, indicating that prime-aged females bear higher costs of reproduction. We show that individual quality and age were key factors modulating the costs of reproduction in a capital breeder but that

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

    Directory of Open Access Journals (Sweden)

    Jeong-Bon Kim

    2015-12-01

    Full Text Available 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.

  19. Corporate tax avoidance and ex ante equity cost of capital in Europe

    OpenAIRE

    Pulido, Matilde Maia Mendes

    2016-01-01

    Mestrado em Finanças A presente dissertação pretende analisar a relação entre o nível de planeamento fiscal e o custo de capital ex ante na Europa, tendo em consideração as características específicas de cada país dado o contexto de maior concorrência fiscal entre empresas. Os resultados obtidos mostram que os investidores têm uma percepção diferente sobre o nível de planeamento fiscal praticado consoante a evolução deste. A análise realizada evidencia que à medida que o nível de planeamen...

  20. Ventilation cost and air cleaning

    Science.gov (United States)

    Goodfellow, H. D.

    The components associated with the costs of the purchase of pollution control equipment are discussed. These include the capital cost to purchase the equipment and installation, and the costs incurred to operate the control device on an annual basis. Although the capital costs can represent a significant outlay of money, typically these costs are spread out over the life of the equipment. In general, this amortized cost is combined with the operating cost and is referred to as an 'annualized cost'. The annualized cost is a commonly used indicator to demonstrate the actual year to year cost that the equipment and operation will represent. Values and methods used to estimate costs, typical cost indicators, and sources of computerized costing models are presented. A comparison of the capital cost expenditure required for a model case (a cement kiln operation), using three control device alternatives is made.

  1. Comparison of the Navy Working Capital Fund and Mission Funding as Applied to Navy Shipyards

    National Research Council Canada - National Science Library

    Cain, Andrew M

    2006-01-01

    .... Specifically, the Navy has shifted two of its four shipyards, with authorization to shift the other two in FY07, from the Navy Working Capital Fund to mission funding through direct congressional appropriations...

  2. Effect of construction time, interest rate, and inflation on the capital cost of nuclear power plants

    International Nuclear Information System (INIS)

    Abel, P.S.; Greybeck, E.M.; Omberg, R.P.

    1981-09-01

    Cost estimates for nuclear power plants currently under construction are on the order of four billion dollars. It will be shown, in this paper, that this is a direct consequence of relatively high inflation rates and relatively long construction times. If either inflation rates or construction times, or a combination thereof, should decrease significantly, cost estimates for nuclear power plants could return to approximately two billion dollars

  3. 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.

  4. 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. Copyright

  5. Problems of power plant capital demands

    International Nuclear Information System (INIS)

    Slechta, V.; Bohal, L.

    1986-01-01

    The problems are discussed of requirements for investment for power plants in Czechoslovakia. Since the construction was finished of coal-burning 110 MW power plants with six power units, specific capital cost has steadily been growing. The growth amounts to 6 to 8% per year while the principle has been observed that specific capital cost decreases with increased unit power. Attention is paid to the cost of the subcontractors of the building and technological parts of a power plant and to the development of productivity of labour. A comparison is tabulated of cost for coal-burning power plants with 100 MW and 200 MW units and for nuclear power plants with WWER-440 reactors. Steps are suggested leading to a reduction of the capital cost of nuclear power plants. It is stated that should not these steps be taken, the envisaged development of nuclear power would be unbearable for the Czechoslovak national economy. (Z.M.). 8 tabs., 3 refs

  6. Fuel cycle cost comparisons with oxide and silicide fuels

    Energy Technology Data Exchange (ETDEWEB)

    Matos, J E; Freese, K E [RERTR Program, Argonne National Laboratory (United States)

    1983-09-01

    This paper addresses fuel cycle cost comparisons for a generic 10 MW reactor with HEU aluminide fuel and with LEU oxide and silicide fuels in several fuel element geometries. The intention of this study is to provide a consistent assessment of various design options from a cost point of view. The status of the development and demonstration of the oxide and silicide fuels are presented in several papers in these proceedings. Routine utilization of these fuels with the uranium densities considered here requires that they are successfully demonstrated and licensed. Thermal-hydraulic safety margins, shutdown margins, mixed cores, and transient analyses are not addressed here, but analyses of these safety issues are in progress for a limited number of the most promising design options. Fuel cycle cost benefits could result if a number of reactors were to utilize fuel elements with the same number or different numbers of the same standard fuel plate. Data is presented to quantify these potential cost benefits. This analysis shows that there are a number of fuel element designs using LEU oxide or silicide fuels that have either the same or lower total fuel cycle costs than the HEU design. Use of these fuels with the uranium densities considered requires that they are successfully demonstrated and licensed. All safety criteria for the reactor with these fuel element designs need to be satisfied as well. With LEU oxide fuel, 31 g U/cm{sup 3} 1 and 0.76 mm--thick fuel meat, elements with 18-22 plates 320-391 g {sup 235}U) result in the same or lower total costs than with the HEU element 23 plates, 280 g {sup 235}U). Higher LEU loadings (more plates per element) are needed for larger excess reactivity requirements. However, there is little cost advantage to using more than 20 of these plates per element. Increasing the fuel meat thickness from 0.76 mm to 1.0 mm with 3.1 g U/cm{sup 3} in the design with 20 plates per element could result in significant cost reductions if the

  7. Nuclear power more profitable than coal if funded with low cost capital: A South-African case study

    International Nuclear Information System (INIS)

    Serfontein, Dawid E.

    2014-01-01

    This study summarizes and expands on economic simulation results from the author’s reviews of the South-African Government’s Draft Integrated Energy Plan (IEP) and Integrated Resource Plan Update 2013 (IRP Update). The Levellized Cost of Electricity (LCOE), as a function of the pre-tax Weighted Average Cost of Capital (WACC%) and the pre-tax % rate of return and the pre-tax nominal profit per unit power sold (R/kWh), as a function of the electricity selling price, are compared for a new Generation III nuclear plant and a new pulverized coal plant with Flue Gas Desulphurization (FGD), built in South Africa. All monetary amounts are expressed in constant real 2012 South African Rand (R), i.e. inflation has been removed. An exchange rate of R8.01/$ was assumed. Since the key economic features of HTRs and Generation III water-cooled nuclear plants are similar, e.g. high initial capital cost followed by low fuel and other variable costs and long plant lives, these results for Generation III nuclear plants are also applicable to HTRs. The results show that the LCOE for nuclear increases sharply with the pre-tax WACC%. For low WACC percentages, nuclear power is much cheaper than coal and vice versa. However the pre-tax nominal profit per unit nuclear power sold (R/kWh) greatly outperforms coal for all values of the electricity selling price, even if the nuclear overnight cost increases to the much maligned $7,000/kW-installed. Especially impressive is the result that nuclear already breaks even at R 0.30/kWh while coal will run at a loss until the price is increased to R 0.68/kWh. This result, that nuclear produces the most profitable power of all readily available sources in South Africa, implies the following power plant construction strategy: Supply the minimum expected new base-load with nuclear plants, augmented by peaking plants, such as hydro and gas turbine in order to balance the constant base-load power supply with the varying demand during different times

  8. 48 CFR 9904.414 - Cost accounting standard-cost of money as an element of the cost of facilities capital.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Cost accounting standard... Acquisition Regulations System COST ACCOUNTING STANDARDS BOARD, OFFICE OF FEDERAL PROCUREMENT POLICY, OFFICE OF MANAGEMENT AND BUDGET PROCUREMENT PRACTICES AND COST ACCOUNTING STANDARDS COST ACCOUNTING...

  9. Cost estimation tools in Germany and the UK. Comparison of cost estimates and actual costs

    International Nuclear Information System (INIS)

    Pfeifer, W.; Gordelier, S.; Drake, V.

    2005-01-01

    Full text: Accurate cost estimation for future decommissioning projects is a matter of considerable importance, especially for ensuring that sufficient funds will be available at the time of project implementation. This paper looks at the experience of cost estimation and real implementation outcomes from two countries, Germany and the UK, and draws lessons for the future. In Germany, cost estimates for the decommissioning of power reactors are updated every two years. For this purpose, the STILLKO program of the NIS Company is used. So far, Forschungszentrum Karlsruhe has successfully decommissioned two prototype reactor facilities. Re-cultivation of the premises has already been completed. At the moment, the activated components of the multi-purpose research reactor (MZFR), the first pressurized water reactor in Germany that was moderated and cooled with heavy water, and of the prototype fast breeder reactor (KNK) are being dismantled remotely. Consequently, vast experience exists in particular for the updating of total costs on the basis of actually incurred expenses. The further the dismantling work proceeds, the more reliable is the total cost estimate. Here, the development of the estimated MZFR decommissioning costs shall be presented and compared with the estimates obtained for a German reference PWR-type power reactor of 1200 MW. In this way: - common features of the prototype reactor and power reactor shall be emphasized, - several parameters leading to an increase in the estimated costs shall be highlighted, - cost risks shall be outlined with the remote dismantling of the reactor pressure vessel serving as an example, - calculation parameters shall be presented, and - recommendations shall be made for a consistent estimation of costs. The United Kingdom Atomic Energy Authority (UKAEA) has a major programme for the environmental remediation of its former research and development sites at Dounreay, Windscale, Harwell and Winfrith together with the need to

  10. Carbon information disclosure of enterprises and their value creation through market liquidity and cost of equity capital

    Directory of Open Access Journals (Sweden)

    Li Li

    2015-01-01

    Full Text Available Purpose: Drawing on asymmetric information and stakeholder theories, this paper investigates two mechanisms, namely market liquidity and cost of equity capital, by which the carbon information disclosure of enterprises can benefit their value creation. Design/methodology/approach: In this research, web crawler technology is employed to study the link between carbon information disclosure and enterprises value creation?and the carbon information data are provided by all companies listed in Chinese A-share market Findings: The results show that carbon information disclosure have significant positive influence on enterprise value creation, which is embodied in the relationship between carbon information disclosure quantity, depth and enterprise value creation, and market liquidity and cost of equity capital play partially mediating role in it, while the influence of carbon information disclosure quality and concentration on enterprise value creation are not significant in statistics. Research limitations/implications: This paper explains the influence path and mechanism between carbon information disclosure and enterprise value creation deeply, answers the question of whether carbon information disclosure affects enterprise value creation or not in China. Practical implications: This paper finds that carbon information disclosure contributes positively to enterprise value creation suggests that managers can reap more financial benefits by disclosing more carbon information and investing carbon emissions management. So, managers in the enterprises should strengthen the management of carbon information disclosure behavior. Originality/value: The paper gives a different perspective on the influence of carbon information disclosure on enterprise value creation, and suggests a new direction to understand carbon information disclosure behavior.

  11. 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.

  12. 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. Copyright © 2016 Elsevier Ireland Ltd. All rights reserved.

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

    OpenAIRE

    Aljaž Zrnec; Dejan Lavbič

    2011-01-01

    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 u...

  14. Omaha company capitalizes on the potential of self-care to drive down costs.

    Science.gov (United States)

    2006-06-01

    Engage patients in managing their own health now. Why? Because lifestyle-related chronic disease is overburdening the nation's health care system, and behavioral change is key to getting the problem under control. See how one Omaha-based company is leveraging the power of self-care to improve outcomes and lower health care-related costs.

  15. Capital and Operating Costs of Small Arsenic Removal Adsorptive Media Systems

    Science.gov (United States)

    The U.S. Environmental Protection Agency (EPA) conducted 50 full-scale demonstration projects on treatment systems removing arsenic from drinking water in 26 states throughout the U.S. The projects were conducted to evaluate the performance, reliability, and cost of arsenic remo...

  16. Implementing a Capital Plan.

    Science.gov (United States)

    Daigneau, William A.

    2003-01-01

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

  17. 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.

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

    International Nuclear Information System (INIS)

    Varley, Geoff

    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 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 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 25 is

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

    Directory of Open Access Journals (Sweden)

    David Portmann

    2013-09-01

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

  20. 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

  1. Impact on the steam electric power industry of deleting Section 316(a) of the Clean Water Act: Capital costs

    International Nuclear Information System (INIS)

    Veil, J.A.

    1993-01-01

    Many power plants discharge large volumes of cooling water. In some cases, the temperature of the discharge exceeds state thermal requirements. Section 316(a) of the Clean Water Act (CWA) allows a thermal discharger to demonstrate that less stringent thermal effluent limitations would still protect aquatic life. About 32% of total US steam electric generating capacity operates under Section 316(a) variances. In 1991, the US Senate proposed legislation that would delete Section 316(a) from the CWA. This study, presented in two companion reports, examines how this legislation would affect the steam electric power industry. This report describes alternatives available to nuclear and coal-fired plants currently operating under variances. Data from 38 plants representing 14 companies are used to estimate the national cost of implementing such alternatives. Although there are other alternatives, most affected plants would be retrofitted with cooling towers. Assuming that all plants currently operating under variances would install cooling towers, the national capital cost estimate for these retrofits ranges from $22.7 billion to $24.4 billion (in 1992 dollars). The second report quantitatively and qualitatively evaluates the energy and environmental impacts of deleting the variance. Little justification has been found for removing the Section 316(a) variance from the CWA

  2. Availability and cost of major and first-line antiepileptic drugs: a comprehensive evaluation in the capital of Madagascar.

    Science.gov (United States)

    Jost, Jeremy; Raharivelo, Adeline; Ratsimbazafy, Voa; Nizard, Mandy; Auditeau, Emilie; Newton, Charles R; Preux, Pierre-Marie

    2016-01-01

    The prevalence of epilepsy is high in Madagascar (23.5/1000), as is the treatment gap (estimated at 92 %). The health system of the country is underfunded; some AEDs are used, and the national drug policy does not encourage price regulation or the administration of generic agents. We conducted a cross-sectional study to assess the availability and cost of solid oral AED formulations in Antananarivo, capital of Madagascar. Data were gathered from all officially registered pharmacies (according to the drug agency list, updated in 2015) by means of telephone interviews lasting no more than 10 min and conducted by a native Malagasy speaker. With regard to other sources (hospitals, illicit sales) data were obtained at specific visits. The study received ethical approval from the Madagascar Ministry of Health. A total of 91 of 100 pharmacies (the nine not included were because of an inoperative phone number), two of three public hospitals, and two illegal outlets were investigated. Sodium valproate was available in 84.6 % of the pharmacies, while carbamazepine and phenobarbital were available in 68.1 % and 36.3 % of the pharmacies, respectively, but phenytoin was not available in any supply chain. There were more originator brands than generic formulations, with a higher cost (range 20.3-81.1 %, median 40.7 %) compared to the equivalent generic. The public system had only a very limited choice of AED, but offered the lowest costs. Illicit sources were more expensive by 54.3 % for carbamazepine and 62.5 % for phenobarbital. Concerning the annual cost of treatment, the average percentage of the gross national income per capita based on the purchasing power parity was 29.8 %/19.0 % (brand/generic) for sodium valproate, 16.4 %/7.3 % (brand/generic) for carbamazepine, 8.9 %/5.1 % (brand/generic) for phenobarbital. The main sources of AEDs were private pharmacies, but the stocks held were low. The financial burden was still important in the capital of Madagascar

  3. 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.

  4. The Context of Social Capital: A Comparison of Rural and Urban Entrepreneurs in Uganda

    DEFF Research Database (Denmark)

    Rooks, Gerrit; Klyver, K.; Sserwanga, Arthur

    2016-01-01

    Classical network theory states that social networks are a form of capital because they provide access to resources. In this article, we propose that network effects differ between collectivistic and individualistic contexts. In a collectivistic context, resource sharing will be "value based...

  5. The context of social capital : a comparison of rural and urban entrepreneurs in Uganda

    NARCIS (Netherlands)

    Rooks, G.; Klyver, K.; Sserwanga, A.

    2016-01-01

    Classical network theory states that social networks are a form of capital because they provide access to resources. In this article, we propose that network effects differ between collectivistic and individualistic contexts. In a collectivistic context, resource sharing will be “value based.” It is

  6. Capital Flight from Russia

    OpenAIRE

    Prakash Loungani; Paolo Mauro

    2000-01-01

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

  7. 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

  8. Cost Model Comparison: A Study of Internally and Commercially Developed Cost Models in Use by NASA

    Science.gov (United States)

    Gupta, Garima

    2011-01-01

    NASA makes use of numerous cost models to accurately estimate the cost of various components of a mission - hardware, software, mission/ground operations - during the different stages of a mission's lifecycle. The purpose of this project was to survey these models and determine in which respects they are similar and in which they are different. The initial survey included a study of the cost drivers for each model, the form of each model (linear/exponential/other CER, range/point output, capable of risk/sensitivity analysis), and for what types of missions and for what phases of a mission lifecycle each model is capable of estimating cost. The models taken into consideration consisted of both those that were developed by NASA and those that were commercially developed: GSECT, NAFCOM, SCAT, QuickCost, PRICE, and SEER. Once the initial survey was completed, the next step in the project was to compare the cost models' capabilities in terms of Work Breakdown Structure (WBS) elements. This final comparison was then portrayed in a visual manner with Venn diagrams. All of the materials produced in the process of this study were then posted on the Ground Segment Team (GST) Wiki.

  9. 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.

  10. Adolescent place attachment, social capital, and perceived safety: a comparison of 13 countries.

    Science.gov (United States)

    Dallago, Lorenza; Perkins, Douglas D; Santinello, Massimo; Boyce, Will; Molcho, Michal; Morgan, Antony

    2009-09-01

    In adolescence, children become increasingly independent and autonomous, and spend more time in neighborhood settings away from home. During mid-to-late adolescence, youth often become more critical about the place they live. Their attachment to home and even community may decrease as they explore and develop new attachments to other specific places. The aim of this study is to understand how 15-year-old students from 13 countries perceive their local neighborhood area (place attachment, social capital and safety), and how these different community cognitions are interrelated. We hypothesize that their place attachment predicts safety, and that the relationship is mediated in part by social capital. Result show that, despite cross-cultural differences in neighborhood perceptions, the proposed theoretical model fits robustly across all 13 countries.

  11. Optimization of temperature differences in a utilizer in relation to the lowest sum of capital and operating cost

    International Nuclear Information System (INIS)

    Kustrin, I.; Tuma, M.

    1992-01-01

    Our environment and nature are currently overburdened with the emission of noxious substances. Steam boilers fired with coal are therefore not very popular. Wherever possible, they are being replaced by devices which are less harmful for the environment because they use different fuel. This paper discusses replacing a steam boiler with a gas turbine and an utilizer. A mathematical model for performing the optimization of capital and operating costs is presented. The model optimizes the degree of preheating of the flue gases i.e. the temperature of the entering flue gases. The smallest temperature difference (pinch point) was not estimated by the pinch technology because the presented example is relatively simple and the pinch point temperature difference was chosen according to the values reported in various literature sources. The optimization is supplemented with an analysis of the thermal and exergetical efficiencies of the utilizer under different conditions (average temperature difference between the hot gases and water or steam, exit temperature of the hot gases), which condition the choice of the type of utilizer

  12. The pitfalls of capital budgeting : when costs correlate to oil price. Is the real-options approach superior to traditional valuation?

    Energy Technology Data Exchange (ETDEWEB)

    Schiozer, R.F. [Getulio Vargas Foundation, Sao Paolo (Brazil). School of Administration de Empresas; Costa Lima, G.A.; Suslick, S.B. [Unicamp, Campinas (Brazil). Center of Petroleum Studies

    2007-07-01

    Due to increased demand for drilling rigs, specialized labor force and other resources, the costs of exploration, appraisal, development and production have significantly risen over the last five years. The change in costs has mostly been attributed to the increased activity in the oil and gas exploration and production (EP) industry, as a result of the increase in oil prices. It was hypothesized that operating costs in the EP industry were strongly correlated to the price of oil. However, the correlation between prices and costs has traditionally been overlooked in the capital budgeting process. This paper investigated the economic relationship between oil price and the operating costs in the EP industry. It also explored its implications for the capital budgeting process and decision-making. The paper demonstrated the evaluation of projects under traditional net present value (NPV) and real-option approaches. Empirical evidence was also provided on how costs correlated to oil prices. The differences between project valuation when cost-price correlation was taken into account or not was also discussed. Last, findings, conclusions and general implications of the results obtained for the decision-making process were identified. It was concluded that there was a positive correlation between price and operating costs, and that overlooking this relationship would have significant implications on the valuation of investment projects, both using a traditional NPV methodology, which resulted in undervalued projects, and under real option analysis, which resulted in overvaluing projects. 6 refs., 2 tabs., 5 figs.

  13. The pitfalls of capital budgeting : when costs correlate to oil price. Is the real-options approach superior to traditional valuation?

    International Nuclear Information System (INIS)

    Schiozer, R.F.; Costa Lima, G.A.; Suslick, S.B.

    2007-01-01

    Due to increased demand for drilling rigs, specialized labor force and other resources, the costs of exploration, appraisal, development and production have significantly risen over the last five years. The change in costs has mostly been attributed to the increased activity in the oil and gas exploration and production (EP) industry, as a result of the increase in oil prices. It was hypothesized that operating costs in the EP industry were strongly correlated to the price of oil. However, the correlation between prices and costs has traditionally been overlooked in the capital budgeting process. This paper investigated the economic relationship between oil price and the operating costs in the EP industry. It also explored its implications for the capital budgeting process and decision-making. The paper demonstrated the evaluation of projects under traditional net present value (NPV) and real-option approaches. Empirical evidence was also provided on how costs correlated to oil prices. The differences between project valuation when cost-price correlation was taken into account or not was also discussed. Last, findings, conclusions and general implications of the results obtained for the decision-making process were identified. It was concluded that there was a positive correlation between price and operating costs, and that overlooking this relationship would have significant implications on the valuation of investment projects, both using a traditional NPV methodology, which resulted in undervalued projects, and under real option analysis, which resulted in overvaluing projects. 6 refs., 2 tabs., 5 figs

  14. Fuel cycle cost uncertainty from nuclear fuel cycle comparison

    International Nuclear Information System (INIS)

    Li, J.; McNelis, D.; Yim, M.S.

    2013-01-01

    This paper examined the uncertainty in fuel cycle cost (FCC) calculation by considering both model and parameter uncertainty. Four different fuel cycle options were compared in the analysis including the once-through cycle (OT), the DUPIC cycle, the MOX cycle and a closed fuel cycle with fast reactors (FR). The model uncertainty was addressed by using three different FCC modeling approaches with and without the time value of money consideration. The relative ratios of FCC in comparison to OT did not change much by using different modeling approaches. This observation was consistent with the results of the sensitivity study for the discount rate. Two different sets of data with uncertainty range of unit costs were used to address the parameter uncertainty of the FCC calculation. The sensitivity study showed that the dominating contributor to the total variance of FCC is the uranium price. In general, the FCC of OT was found to be the lowest followed by FR, MOX, and DUPIC. But depending on the uranium price, the FR cycle was found to have lower FCC over OT. The reprocessing cost was also found to have a major impact on FCC

  15. 41 CFR 301-74.4 - What should cost comparisons include?

    Science.gov (United States)

    2010-07-01

    ... comparisons include? 301-74.4 Section 301-74.4 Public Contracts and Property Management Federal Travel Regulation System TEMPORARY DUTY (TDY) TRAVEL ALLOWANCES AGENCY RESPONSIBILITIES 74-CONFERENCE PLANNING Agency Responsibilities § 301-74.4 What should cost comparisons include? Cost comparisons should include...

  16. A COMPARISON OF BASIC AND EXTENDED MARKOWITZ MODEL ON CROATIAN CAPITAL MARKET

    OpenAIRE

    Bruna Škarica; Zrinka Lukač

    2012-01-01

    Markowitz' mean - variance model for portfolio selection, first introduced in H.M. Markowitz' 1952 article, is one of the best known models in finance. However, the Markowitz model is based on many assumptions about financial markets and investors, which do not coincide with the real world. One of these assumptions is that there are no taxes or transaction costs, when in reality all financial products are subject to both taxes and transaction costs – such as brokerage fees. In this pape...

  17. Utilities Cost Comparison Analysis between a Public Work Center and the Non-DoD Sector

    Science.gov (United States)

    1992-12-01

    construction, consider innovative financing and 14 management arrangements (e.g. cost-sharing, public-private venture, leasing). Integrate...and services by financing all incurred costs. 27 Cash is put back into the working capital fund when customers pay cash from their O&M,N funds for the...firms, and other significantly sized business firms. The actual participants of the study may or may not be included in this listing. Disneyland was

  18. Impact of adopting IFRS standard on the equity cost of brazilian open capital companies / Impacto da adoção do padrão IFRS no custo de capital próprio das empresas de capital aberto no Brasil

    Directory of Open Access Journals (Sweden)

    Rafael Confetti Gatsios

    2016-08-01

    Full Text Available Purpose: This study aims to assess the impact of adopting IFRS standard on the equity cost of Brazilian open capital companies in the period of 2004-2013. Originality/gap/relevance/implications: The adoption of International Financial Reporting Standards aims to increase the quality of accounting information. Studies performed in Europe suggest that, after the adoption of the IFRS standard, there was a reduction in the equity cost of companies due to the reduction of information asymmetry and risk. Key methodological aspects: The equity cost was calculated using the capital asset pricing model (CAPM adapted to the Brazilian case. The empirical strategy was the difference analysis in differences, comparing the results of companies that voluntarily adopted the IFRS with companies that adopted IFRS after the mandatory adoption period. Summary of key results: The results indicate that the adoption of the IFRS standard does not contribute to reduce the equity cost in Brazil. Key considerations/conclusions: Suggesting that the process of adopting the international accounting standard may take more time to impact the equity cost of Brazilian open capital companies, since the impact of IFRS is not related only with the adoption, but also with its use by companies and users. Objetivo: Este trabalho se propõe a avaliar o impacto da adoção do padrão IFRS sobre o custo de capital próprio das empresas de capital aberto no Brasil. Originalidade/Lacuna/Relevância/Implicações: A adoção do padrão International Financial Reporting Standards (IFRS apresenta como objetivo o aumento da qualidade das informações contábeis. Estudos realizados para a Europa indicam que após a adoção do padrão IFRS se verificou a redução do custo de capital próprio das empresas devido a redução da assimetria de informação e do risco. Principais aspectos metodológicos: O estudo foi realizado no período de 2004 a 2013. O custo de capital próprio foi calculado

  19. Seaplane Economics: A Quantitative Cost Comparison of Seaplanes and Land Planes for Sea Base Operations

    National Research Council Canada - National Science Library

    Denz, Thomas; Smith, Stephanie; Shrestha, Rajeev

    2007-01-01

    .... This study examined whether there is an economic justification for using seaplanes, the method being a quantitative cost comparison between existing conventional fixed-wing aircraft (land planes...

  20. ACCOUNT INSTRUMENT CAPITAL BORROWED

    Directory of Open Access Journals (Sweden)

    Holt Gheorghe

    2012-03-01

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

  1. Comparisons of benthic filter feeder communities before and after a large-scale capital dredging program.

    Science.gov (United States)

    Abdul Wahab, Muhammad Azmi; Fromont, Jane; Gomez, Oliver; Fisher, Rebecca; Jones, Ross

    2017-09-15

    Changes in turbidity, sedimentation and light over a two year large scale capital dredging program at Onslow, northwestern Australia, were quantified to assess their effects on filter feeder communities, in particular sponges. Community functional morphological composition was quantified using towed video surveys, while dive surveys allowed for assessments of species composition and chlorophyll content. Onslow is relatively diverse recording 150 sponge species. The area was naturally turbid (1.1 mean P 80 NTU), with inshore sites recording 6.5× higher turbidity than offshore localities, likely influenced by the Ashburton River discharge. Turbidity and sedimentation increased by up to 146% and 240% through dredging respectively, with corresponding decreases in light levels. The effects of dredging was variable, and despite existing caveats (i.e. bleaching event and passing of a cyclone), the persistence of sponges and the absence of a pronounced response post-dredging suggest environmental filtering or passive adaptation acquired pre-dredging may have benefited these communities. Copyright © 2017. Published by Elsevier Ltd.

  2. Intellectual Capital.

    Science.gov (United States)

    Snyder, Herbert W.; Pierce, Jennifer Burek

    2002-01-01

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

  3. 47 CFR 65.304 - Capital structure.

    Science.gov (United States)

    2010-10-01

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

  4. The weighted average cost of capital over the lifecycle of the firm: Is the overinvestment problem of mature firms intensified by a higher WACC?

    Directory of Open Access Journals (Sweden)

    Carlos S. Garcia

    2016-08-01

    Full Text Available Firm lifecycle theory predicts that the Weighted Average Cost of Capital (WACC will tend to fall over the lifecycle of the firm (Mueller, 2003, p. 80-81. However, given that previous research finds that corporate governance deteriorates as firms get older (Mueller and Yun, 1998; Saravia, 2014 there is good reason to suspect that the opposite could be the case, that is, that the WACC is higher for older firms. Since our literature review indicates that no direct tests to clarify this question have been carried out up till now, this paper aims to fill the gap by testing this prediction empirically. Our findings support the proposition that the WACC of younger firms is higher than that of mature firms. Thus, we find that the mature firm overinvestment problem is not intensified by a higher cost of capital, on the contrary, our results suggest that mature firms manage to invest in negative net present value projects even though they have access to cheaper capital. This finding sheds new light on the magnitude of the corporate governance problems found in mature firms.

  5. Cost comparison of re-usable and single-use fibrescopes in a large English teaching hospital.

    Science.gov (United States)

    McCahon, R A; Whynes, D K

    2015-06-01

    A number of studies in the U.S.A. and mainland Europe have described the costs of fibreoptic tracheal intubation. However, no such data from the UK appear available. We performed a cost assessment of fibreoptic intubation, using re-usable (various devices from Olympus, Acutronic and Karl Storz) and single-use (Ambu aScope) fibrescopes, at the Queens Medical Centre, Nottingham, U.K., between 1 January 2009 and 31 March 2014. The total annual cost of fibreoptic intubation with re-usable fibrescopes was £46,385. Based on 141 fibreoptic intubations per year, this equated to £329 per use, an average dominated by repair/maintenance costs (43%) and capital depreciation costs (42%). In comparison, the total annual cost of using single-use fibrescopes for the same work would have been around £200 per use. The analysis enabled us to develop a generic model, wherein we were able to describe the relationship between total cost of use vs number of uses for a fibrescope. An 'isopleth' was identified for this relationship: a line that joined all the points where the cost of re-usable vs single-use fibrescopes was equal. It appears cheaper to use single-use fibrescopes at up to 200 fibreoptic intubations per year (a range commensurate with normal practice) even when the repair rate for re-usable fibrescopes is low. Any centre, knowing its fibrescope use and repair rate, can plot its data similarly to help ascertain which of the re-usable or single-use fibrescope represents better value. © 2015 The Association of Anaesthetists of Great Britain and Ireland.

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

    Science.gov (United States)

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

    2014-09-30

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

  7. ''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

  8. Capital regulation and tail risk

    NARCIS (Netherlands)

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

    2011-01-01

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

  9. A proposal of cost evaluation of own capital for the Brazilian electric 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 own capital cost of the Brazilian electric sector, by using three methodologies: Comparable Accounting Results (CAR), using historical values for measurement, Discounted Cash Flow (DCF) and the CAPM, elaborated from expected values.The obtained results by using the CAR method indicated that the Brazilian electric power sector is not receiving remuneration according to the real maintenance and expansion necessities. Based on this observation, it was considered appropriated to discard the CAR method in the proposed methodology, therefore using the simply average of the CAPM e DCF models. By using the simply average of the models presents the advantage of capturing specific characteristics of each model, and to dilute effects of eventual extreme values.

  10. Intellectual Capital

    DEFF Research Database (Denmark)

    Bukh, Per Nikolaj; Christensen, Karina Skovvang

    2015-01-01

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

  11. Brand Reputation and the Cost of Capital: Evidence of Adopting a Brand Name as the Corporate Name

    OpenAIRE

    YiLin Wu

    2011-01-01

    This paper studies how the capital market perceives brand name adoption. I distinguish between brand adoption and radical type of corporate name change. A brand adoption name change occurs when the firm adopts one of its well-established brands as its new corporate name and a radical type occurs when the new name is semantically unrelated to firm history. Improved profitability and increased net investment accompany brand name adoption. After controlling for changes in the competing informati...

  12. 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...

  13. Key Issues and Challenges in Estimating the Cost of Capital for Energy Network Utilities in Emerging Markets(Gelişmekte Olan Ülkelerde Enerji Şebeke Şirketleri İçin Sermaye Maliyetinin Tahminindeki Ana Konu ve Sorunlar

    Directory of Open Access Journals (Sweden)

    Mustafa GÖZEN

    2012-01-01

    Full Text Available Estimating the cost of capital in emerging markets presents greater difficulties because these markets have relatively illiquid capital markets and higher levels of sovereign risk, economic uncertainties, and political risks. Experience shows that in estimating cost of capital, energy regulators in emerging countries usually depend on the work and recommendations of their staff and/or outside consultancy services. Since the ultimate decision is made by regulators, they need to understand the challenges and key issues in estimating a fair and reasonable cost of capital for energy utilities. The article introduces and discusses the key issues and challenges that regulators have to deal with when estimating cost of capital. Unfortunately, there is no agreement among academics, regulators, bankers, and other practitioners on how to address the key issues and challenges in determining the cost of capital in emerging economies. This makes capital cost estimation even more difficult in emerging economies.

  14. 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% renewable...... 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....

  15. Comparison of approximate electrical energy generating costs in OECD countries

    International Nuclear Information System (INIS)

    Stevens, G.H.; Bertel, E.

    1996-01-01

    Costs of power generating in nuclear power plants have been predicted taking into account all factors connected with investment, maintenance, exploitation and decommissioning, basing on last OECD report. The costs have been compared with alternative solutions. In majority of OECD countries the direct costs of electricity generation are very close for nuclear fossil-fuel and gas power plants. All indirect costs such as environmental impact, public health hazard, waste management, accident risk and also public acceptance for nuclear power have been discussed. 13 refs, 5 tabs

  16. Transition to Clean Capital, Irreversible Investment and Stranded Assets

    OpenAIRE

    Rozenberg, Julie; Vogt-Schilb, Adrien; Hallegatte, Stephane

    2014-01-01

    This paper uses a Ramsey model with two types of capital to analyze the optimal transition to clean capital when polluting investment is irreversible. The cost of climate mitigation decomposes as a technical cost of using clean instead of polluting capital and a transition cost from the irreversibility of pre-existing polluting capital. With a carbon price, the transition cost can be limit...

  17. Comparison of high-speed transportation systems in special consideration of investment costs

    Directory of Open Access Journals (Sweden)

    R. Schach

    2007-10-01

    Full Text Available In this paper a substantial comparison of different high-speed transportation systems and an approach to stochastic cost estimations are provided. Starting from the developments in Europe, the high-speed traffic technical characteristics of high-speed railways and Maglev systems are compared. But for a comprehensive comparison more criterions must be included and led to a wider consideration and the development of a multi-criteria comparison of high-speed transportation systems. In the second part a stochastic approach to cost estimations of infrastructure projects is encouraged. Its advantages in comparison with the traditional proceeding are presented and exemplify the practical implementation.

  18. Wilderness Recreation Demand: A Comparison of Travel Cost and On-Site Cost Models

    Science.gov (United States)

    J.M. Bowker; A. Askew; L. Seymour; J.P. Zhu; D. English; C.M. Starbuck

    2009-01-01

    This study used travel cost and on-site day cost models, coupled with the Forest Service’s National Visitor Use Monitoring data, to examine the demand for and value of recreation access to designated Wilderness.

  19. 49 CFR 639.21 - Determination of cost-effectiveness.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 7 2010-10-01 2010-10-01 false Determination of cost-effectiveness. 639.21... ADMINISTRATION, DEPARTMENT OF TRANSPORTATION CAPITAL LEASES Cost-Effectiveness § 639.21 Determination of cost...-effectiveness comparison as described in this subpart, it may ask FTA to approve an alternate form of cost...

  20. Benefit/cost comparisons for utility SMES applications

    International Nuclear Information System (INIS)

    De Steese, J.G.; Dagle, J.E.

    1991-01-01

    This paper summarizes eight cases studies that account for the benefits and costs of superconducting magnetic energy storage (SMES) in system-specific utility applications. Four of these scenarios are hypothetical SMES application in the Pacific Northwest, where relatively low energy costs impose a stringent test on the viability of the concept. The other four scenarios address SMES applications on high-voltage, direct-current (HVDC) transmission lines. While estimated SMES benefits are based on a previously reported methodology, this paper presents results of an improved cost-estimating approach that includes an assumed reduction in the cost of the power conditioning system (PCS) from approximately $160/kW to $80/kW. The revised approach results in all the SMES scenarios showing higher benefit/cost ratios that those reported earlier. However, in all but two cases, the value of any single benefit is still less than the unit's levelized cost. This suggests, as a general principle, that the total value of multiple benefits should always be considered if SMES is to appear cost effective in may utility applications. These results should offer utilities further encouragement to conduct more detailed analyses of SMES benefits in scenarios that apply to individual systems

  1. Benefit/cost comparison for utility SMES applications

    Science.gov (United States)

    Desteese, J. G.; Dagle, J. E.

    1991-08-01

    This paper summarizes eight case studies that account for the benefits and costs of superconducting magnetic energy storage (SMES) in system-specific utility applications. Four of these scenarios are hypothetical SMES applications in the Pacific Northwest, where relatively low energy costs impose a stringent test on the viability of the concept. The other four scenarios address SMES applications on high-voltage, direct-current (HVDC) transmission lines. While estimated SMES benefits are based on a previously reported methodology, this paper presents results of an improved cost-estimating approach that includes an assumed reduction in the cost of the power conditioning system (PCS) from approximately $160/kW to $80/kW. The revised approach results in all the SMES scenarios showing higher benefit/cost ratios than those reported earlier. However, in all but two cases, the value of any single benefit is still less than the unit's levelized cost. This suggests, as a general principle, that the total value of multiple benefits should always be considered if SMES is to appear cost effective in many utility applications. These results should offer utilities further encouragement to conduct more detailed analyses of SMES benefits in scenarios that apply to individual systems.

  2. Cost comparison between Subterrene and current tunneling methods. Final report

    International Nuclear Information System (INIS)

    Bledsoe, J.D.; Hill, J.E.; Coon, R.F.

    1975-05-01

    A study was made to compare tunnel construction costs between the Subterrene tunneling system and methods currently in use. Three completed tunnels were selected for study cases to represent finished diameters ranging from 3.05 meters (10 feet) to 6.25 meters (20.5 feet). The study cases were normalized by deleting extraneous work and assigning labor, equipment, and materials costs for the Southern California area in 1974. Detailed cost estimates (shown in Appendix A) were then made for the three tunnels for baseline. A conceptual nuclear powered Subterrene tunneling machine (NSTM) was designed. It was assumed that NSTM's were available for each of the three baseline tunnels. Costs were estimated (shown in Appendix B) for the baseline tunnels driven by NSTM

  3. Corporate taxation and capital accumulation

    OpenAIRE

    Stephen Bond; Jing Xing

    2010-01-01

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

  4. Productivity and Cost Comparison of Two Different-Sized Skidders

    Science.gov (United States)

    John Klepac; Robert B. Rummer

    2000-01-01

    Productivity and cost of two skidders, Timberjack models 460 and 660, were evaluated while operatin in a loblolly pine plantation performin a clearcut harvest in the Southeastern US. Productivity without delimbing was 46.7 tonnes per PMH for the model 460 and 51.7 tonnes per PMH for the model 660. Cost per tonne was $1.70 for the model 460 and $1.90 for the model 660....

  5. Comparison of MEA capture cost for low CO{sub 2} emissions sources in Australia

    Energy Technology Data Exchange (ETDEWEB)

    Ho, M.T.; Allinson, G.W.; Wiley, D.E. [University of New South Wales, Sydney, NSW (Australia). School of Chemical Engineering

    2011-01-15

    This paper estimates the cost of CO{sub 2} capture for three Australian industrial emission sources: iron and steel production, oil refineries and cement manufacturing. It also compares the estimated capture costs with those of post-combustion capture from a pulverised black coal power plant. The cost of capture in 2008 using MEA solvent absorption technology ranges from less than A$60 per tonne CO{sub 2} avoided for the iron and steel production to over A$70 per tonne CO{sub 2} avoided for cement manufacture and over A$100 per tonne CO{sub 2} avoided for oil refineries. The costs of capture for the iron and steel and cement industries are comparable to or less than that for post-combustion capture from a pulverised black coal power plant. This paper also investigates costs for converting low partial pressure CO{sub 2} streams from iron and steel production to a more concentrated stream using pressurisation and the water-gas shift reaction. In those cases, the costs were found to be similar to or less than the cost estimates without conversion. The analyses in this paper also show that estimated costs are highly dependent on the characteristics of the industrial emission source, the assumptions related to the type and price of energy used by the capture facilities and the economic parameters of the project such as the discount rate and capital costs.

  6. 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.

  7. Economic and financial approaches to planning relatively high capital cost energy options such as hydroelectric power development

    Energy Technology Data Exchange (ETDEWEB)

    Warnock, J.G.; Merrett, A.J.

    1984-04-01

    The need for levelization has been widely recognized as desirable on grounds of equity. This paper points that it is also essential to the validity of the long-term present value criterion for capital investment. Yet the advocated methods of levelization are generally unacceptable or inefficient. These methods could be made more efficient - for example by the interest differential guarantee proposal outlined above. Until such time as effective and efficient levelization measures are implemented it has to be recognized that under present day inflationary conditions the conventional criteria of long-term present value may well be devoid of any economic validity. These issues can be of very significant importance in judging those energy options for future electrical generator modes.

  8. Digital and conventional radiology techniques: comparison of dosage and costs

    International Nuclear Information System (INIS)

    Arranza, L.; Albornoz, C. de

    1996-01-01

    To compare the radiation dosage and costs in conventional and digital technologies. The study dealt with transverse sections. The dosage applied with conventional technology was measured in 254 patients who intertwined 402 explorations of 6 anatomic regions in 4 Radiodiagnostic Services. The dosage applied with digital technology was measured in 57 patients who underwent 95 explorations of the same anatomic region in one Radiodiagnostic Service. The costs of the 6 types of conventional and digital explorations performed were calculated for two Radiodiagnostic Service. The doses administered (mGy) using convectional/digital technology were as follows: chest PA 0.2/0.1; chest LAT 0.7/0.3; breast CC 7.0/8.4; breast LAT 7.0/7.8; breast OB 7.0/10.5; cervical spine AP 9.6/9.0; cervical spine LAT 21.9/29.6; pelvis AP 7.3/7.1; plain abdominal 6.5/2.2. The costs incurred (1992 pesetas) with the convectional/digital technologies: chest AP and LAT 1,393/2,973; portable chest 2,027/3,714; mammography 2,357/3,486; phlebography 12,718/14,023; hysterosalpingography 4,876/6,701; bone scientigraphy 1,633/2,839. Compared with conventional technology, digital imaging reduces the radiation doses received by the patients, except in the case of mammography. The costs associated with the use of digital technology are greater than those incurred with conventional technology, mainly due to the costs of amortization. the use of digital technology is more justified when: 1) it is very necessary to reduce the dosage; 2) studies of chest and abdomen predominant; 3) the volume of utilization is high; 4) staff management is flexible , and 5) the cost of purchasing the equipment is lower. (Author) 10 refs

  9. Comparison of costs of integrating working level devices

    International Nuclear Information System (INIS)

    Langner, G.H. Jr.

    1977-01-01

    For the purpose of deciding upon the method for making routine field measurements of radon and radon daughter products there are primarily two factors to be taken into consideration: how well the various methods measure the parameter of interest and how much they cost. For the purpose of measuring the annual average working level within a structure there are available basically two devices: the integrating air sampler and track etch film. The cost and manpower requirements for each of these two devices are discussed

  10. World wide spatial capital.

    Science.gov (United States)

    Sen, Rijurekha; Quercia, Daniele

    2018-01-01

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

  11. 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...

  12. Niche public transport operational and capital investment strategies to minimize fares in the light of increased energy costs

    CSIR Research Space (South Africa)

    Letebele, MO

    2009-07-01

    Full Text Available Fuel costs are a significant component of a public transport fare. It is therefore of critical importance for measures aimed at containing household public transport expenditure to explore alternative ways of reducing fuel consumption or fuel...

  13. Individual quality and age but not environmental or social conditions modulate costs of reproduction in a capital breeder

    OpenAIRE

    Debeffe, Lucie; Poissant, Jocelyn; McLoughlin, Philip D.

    2017-01-01

    Abstract Costs associated with reproduction are widely known to play a role in the evolution of reproductive tactics with consequences to population and eco?evolutionary dynamics. Evaluating these costs as they pertain to species in the wild remains an important goal of evolutionary ecology. Individual heterogeneity, including differences in individual quality (i.e., among?individual differences in traits associated with survival and reproduction) or state, and variation in environmental and ...

  14. Comparison of anaesthetic cost in open and laparoscopic ...

    African Journals Online (AJOL)

    Context: Appendectomy is generally conducted as open or by laparoscopic surgical techniques under general anesthesia. Aims: This study aims to compare the anesthetic costs of the patients, who underwent open or laparoscopic appendectomy under general anesthesia. Settings and Design: The design is retrospective ...

  15. Multiple function benefit - cost comparison of conservation buffer placement strategies

    Science.gov (United States)

    Z. Qiu; M.G. Dosskey

    2012-01-01

    Conservation buffers are considered to be effective practices for repairing impaired streams and restoring multiple ecosystem functions in degraded agricultural watersheds. Six different planning strategies for targeting their placement within watersheds were compared in terms of cost-effectiveness for environmental improvement in the 144 km² Neshanic River...

  16. A comparison of high velocity systems on rail. Cooperation project. Pt. 2/A. Final report. A method to evaluate operating costs. Vergleich von spurgefuehrten Hochgeschwindigkeitssystemen. Kooperationsprojekt. T. 2/A. Abschlussbericht. Comparaison de systemes de transport guide a grande vitesse. Projet de cooperation. Pt. 2/A. Rapport final. Methode zur Bestimmung der Betriebskosten. Methode de determination des couts d'exploitation

    Energy Technology Data Exchange (ETDEWEB)

    1990-01-01

    In this German-French cooperation project a comparison between the high speed Intercity Express (ICE), the high speed train TGV (train a grande vitesse) and the maglev rapid transit system Transrapid is drawn. Investment costs for infrastructure and rail network and operating costs, ie costs for the operational management, maintenance and capital cost are compared. For this a method has been worked out for the calculation of operating cost ratios and a model has been developed for writing operating programmes and for the evaluation of operating costs. (RHM).

  17. 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.

  18. The cost risk implementation on design-build project of integrated public spaces child friendly in capital of Jakarta

    Science.gov (United States)

    Mardiaman, Mubarok, Abdul

    2017-11-01

    Jakarta area of 662.33 km2 with a population of 10,075,030 inhabitants and green open spaces 9.98%. The Jakarta government built a child-friendly integrated open space as facilities for playing. Providing of facilities was hoped suitable with time, cost, quality, accountability and proper financial governance. Based on the PU ministerial regulation number 19/PRT/M/2015 on the standards and guidelines for procurement the design and construction work on the integrated build and the PU ministerial regulation No. 07/PRT/M/2011 on standards and guidelines for procurement of construction works and consulting services of public works and the ministry of housing. RPTRA development at 123 locations in Jakarta was implemented base on the contract of design and build. The design study was influenced by the cost elements; the main strength (expert), skilled personnel, support personnel, major equipment and support. The construction fee relies on; expert implementation, hardware implementation, preparation work, land, buildings, courtyards, fences, complementary and governance capabilities for human resources in completing the construction activities to minimize the cost risk. Montecarlo simulations was conducted to determine the average unit price, model and analyze systems. In the cost contract, the percentage of design work stipulated 2.5%, build 97.5%. Base on regulation the minister of public work for design work cost 2.72%, build 97.28%. Then, actual cost for design 2.67% and build 97.33%. From the three reference was shown that there are differentiation one another. The acceleration of planning able to make the cost and time more efficient that impact on the implementation margin.

  19. Comparison of anaesthetic cost in open and laparoscopic appendectomy.

    Science.gov (United States)

    Demirel, I; Ozer, A B; Kilinc, M; Bayar, M K; Erhan, O L

    2014-01-01

    Appendectomy is generally conducted as open or by laparoscopic surgical techniques under general anesthesia. This study aims to compare the anesthetic costs of the patients, who underwent open or laparoscopic appendectomy under general anesthesia. The design is retrospective and records of 379 patients who underwent open or laparoscopic appendectomy under general anesthesia, falling under the category of I-III risk group according to the American Society of Anesthesiologists (ASA) classification between the years 2011 and 2013, and aged 18-77. Open (Group I) or laparoscopic (Group II) appendectomy operation under general anesthesia were evaluated retrospectively by utilizing hospital automation and anesthesia observation records. This study evaluated the anesthesia time of the patients and total costs (Turkish Lira ₺, US dollar $) of anesthetic agents used (induction, maintenance), necessary medical materials (connecting line, endotracheal tube, airway, humidifier, branule, aspiration probe), and intravenously administered fluids were evaluated. We used Statistical Package for the Social Sciences software (SPSS version 17.0) for statistical analysis. Of the patients, 237 were males (62.53%) and 142 were females (37.47%). Anesthesia time limits were established as 70.30 ± 30.23 minute in Group I and 74.92 ± 31.83 minute in Group II. Mean anesthesia administration cost per patient was found to be 78.79 ± 30.01₺ (39.16 ± 14.15$) in Group I and 83.09 ± 26.85₺ (41.29 ± 13.34$) in Group II (P > 0.05). A correlation was observed between cost and operation times (P = 0.002, r = 0.158). Although a statistical difference was not established in this study in terms of time and costs in appendectomy operations conducted as open and laparoscopically, changes may occur in time in market conditions of drugs, patent rights, legal regulations, and prices. Therefore, we believe that it would be beneficial to update and revise cost analyses from time to time.

  20. Provision of capital for shutdown, dismantling and disposal. Cost risks and proposals for reform for a responsibility related financing; Atomrueckstellungen fuer Stilllegung, Rueckbau und Entsorgung. Kostenrisiken und Reformvorschlaege fuer eine verursachergerechte Finanzierung

    Energy Technology Data Exchange (ETDEWEB)

    Kuechler, Swantje; Meyer, Bettina; Wronski, Rupert

    2014-10-10

    In Germany the latest discussion on the cost of nuclear phase-out, dismantling and waste disposal has shown that the provision of capital by the concerned companies for these challenges and the actual regulations are not sufficient for a long-term financing security. The study presents a reform concept including the need of improved transparency on the provision of capital, a differentiated financial statement, the introduction of a stock under public law for insolvency protection including a financing responsibility for the companies and subsequent payments in case of cost increase, and an increase of protection in case of insolvency.

  1. A critical analysis of the 2014 IPCC report on capital cost of mitigation and of renewable energy

    International Nuclear Information System (INIS)

    Trainer, Ted

    2017-01-01

    The Report by the IPCC Working Group 3 on mitigation has been widely reported as showing that a 430 – 480 ppm emissions target can be achieved at a low investment cost in relation to GDP. However there are several reasons why the Report cannot be regarded as having established these claims, mainly to do with the very few sources referred to on the crucial cost issues, the problems evident in those sources, and difficulties encountered when investment sums allocated to various sectors are examined. An exploration of the possible investment required by the renewable energy sector indicates that the costs associated with achieving desired emissions targets would be very high. This strengthens the case that effective policies for dealing with climate and other global problems cannot be achieved unless there is transition from consumer societies committed to affluence and growth. - Highlights: • The logic and structure of the Report re clarified. • Only five pages in Chapter 16 deal with renewable system cost estimates. • The core conclusions are based on only about three references. • These studies are open to fundamental criticism. • An alternative approach indicates higher system costs than the Report claims.

  2. A seismic performance and cost comparison of top and bottom supported liquid metal reactor vessels

    International Nuclear Information System (INIS)

    Carlson, T.M.; Kiciman, O.K.; Petrozelli, J.F.

    1989-01-01

    It is the premise of this paper that the revision of a pool LMR from a TSRV configuration to a specific bottom supported reactor vessel (BSRV) configuration can resolve the above TSRV disadvantages related to load path length and diversity, thereby improving seismic performance and simultaneously reducing RV block costs by reducing weights. This paper demonstrates this premise by comparing a reference TSRV block with a specific BSRV block design. Recent capital cost estimates ($/kWe) for U.S. liquid metal reactor (LMR) plant designs reveal that the balance of plant costs could be reduced below that of the balance of plant costs for a comparable light water reactor plant. However, in regions of high seismicity, non-seismically isolated LMR nuclear steam supply system weights are costs per kWe are two to three times the weights and costs of light water reactor nuclear steam supply systems. While all portions of the LMR nuclear steam supply system require examination for potential cost reductions, the focus of this paper is the reactor vessel (RV) block for a large pool plant

  3. Risk-adjusted capitation based on the Diagnostic Cost Group Model: an empirical evaluation with health survey information

    NARCIS (Netherlands)

    L.M. Lamers (Leida)

    1999-01-01

    textabstractOBJECTIVE: To evaluate the predictive accuracy of the Diagnostic Cost Group (DCG) model using health survey information. DATA SOURCES/STUDY SETTING: Longitudinal data collected for a sample of members of a Dutch sickness fund. In the Netherlands the sickness

  4. Cost comparisons of wet and dry interim storage facilities for PWR spent nuclear fuel in Korea

    International Nuclear Information System (INIS)

    Cho, Chun-Hyung; Kim, Tae-Man; Seong, Ki-Yeoul; Kim, Hyung-Jin; Yoon, Jeong-Hyoun

    2011-01-01

    Research highlights: → We compare the costs of wet and dry interim storage facilities for PWR spent fuel. → We use the parametric method and quotations to deduce unknown cost items. → Net present values and levelized unit prices are calculated for cost comparisons. → A system price is the most decisive factor in cost comparisons. - Abstract: As a part of an effort to determine the ideal storage solution for pressurized water reactor (PWR) spent nuclear fuel, a cost assessment was performed to better quantify the competitiveness of several storage types. Several storage solutions were chosen for comparison, including three dry storage concepts and a wet storage concept. The net present value (NPV) and the levelized unit cost (LUC) of each solution were calculated, taking into consideration established scenarios and facility size. Wet storage was calculated to be the most expensive solution for a 1700 MTU facility, and metal cask storage marked the highest cost for a 5000 MTU facility. Sensitivity analyses on discount rate, metal cask price, operation and maintenance cost, and facility size revealed that the system price is the most decisive factor affecting competitiveness among the storage types.

  5. Cost comparisons of wet and dry interim storage facilities for PWR spent nuclear fuel in Korea

    Energy Technology Data Exchange (ETDEWEB)

    Cho, Chun-Hyung, E-mail: skycho@krmc.or.kr [Korea Radioactive Waste Management Corporation, 1045 Daedeokdaero, Yuseong-Gu, Daejeon 305-353 (Korea, Republic of); Kim, Tae-Man; Seong, Ki-Yeoul; Kim, Hyung-Jin; Yoon, Jeong-Hyoun [Korea Radioactive Waste Management Corporation, 1045 Daedeokdaero, Yuseong-Gu, Daejeon 305-353 (Korea, Republic of)

    2011-05-15

    Research highlights: > We compare the costs of wet and dry interim storage facilities for PWR spent fuel. > We use the parametric method and quotations to deduce unknown cost items. > Net present values and levelized unit prices are calculated for cost comparisons. > A system price is the most decisive factor in cost comparisons. - Abstract: As a part of an effort to determine the ideal storage solution for pressurized water reactor (PWR) spent nuclear fuel, a cost assessment was performed to better quantify the competitiveness of several storage types. Several storage solutions were chosen for comparison, including three dry storage concepts and a wet storage concept. The net present value (NPV) and the levelized unit cost (LUC) of each solution were calculated, taking into consideration established scenarios and facility size. Wet storage was calculated to be the most expensive solution for a 1700 MTU facility, and metal cask storage marked the highest cost for a 5000 MTU facility. Sensitivity analyses on discount rate, metal cask price, operation and maintenance cost, and facility size revealed that the system price is the most decisive factor affecting competitiveness among the storage types.

  6. Study of the standard direct costs of various techniques of advanced endoscopy. Comparison with surgical alternatives.

    Science.gov (United States)

    Loras, Carme; Mayor, Vicenç; Fernández-Bañares, Fernando; Esteve, Maria

    2018-03-12

    The complexity of endoscopy has carried out an increase in cost that has a direct effect on the healthcare systems. However, few studies have analyzed the cost of advanced endoscopic procedures (AEP). To carry out a calculation of the standard direct costs of AEP, and to make a financial comparison with their surgical alternatives. Calculation of the standard direct cost in carrying out each procedure. An endoscopist detailed the time, personnel, materials, consumables, recovery room time, stents, pathology and medication used. The cost of surgical procedures was the average cost recorded in the hospital. Thirty-eight AEP were analyzed. The technique showing lowest cost was gastroscopy + APC (€116.57), while that with greatest cost was ERCP with cholangioscopy + stent placement (€5083.65). Some 34.2% of the procedures registered average costs of €1000-2000. In 57% of cases, the endoscopic alternative was 2-5 times more cost-efficient than surgery, in 31% of cases indistinguishable or up to 1.4 times more costly. Standard direct cost of the majority of AEP is reported using a methodology that enables easy application in other centers. For the most part, endoscopic procedures are more cost-efficient than the corresponding surgical procedure. Copyright © 2018 The Author(s). Published by Elsevier Ltd.. All rights reserved.

  7. Cost comparison of transcatheter and operative closures of ostium secundum atrial septal defects

    Science.gov (United States)

    O’Byrne, Michael L.; Gillespie, Matthew J.; Shinohara, Russell T.; Dori, Yoav; Rome, Jonathan J.; Glatz, Andrew C.

    2015-01-01

    Background Clinical outcomes for transcatheter and operative closures of atrial septal defects (ASDs) are similar. Economic cost for each method has not been well described. Methods A single-center retrospective cohort study of children and adults cost of operative and transcatheter closures of ASD. A propensity score weight-adjusted multivariate regression model was used in an intention-to-treat analysis. Costs for reintervention and crossover admissions were included in primary analysis. Results A total of 244 subjects were included in the study (64% transcatheter and 36% operative), of which 2% (n = 5) were ≥18 years. Crossover rate from transcatheter to operative group was 3%. Risk of reintervention (P = .66) and 30-day mortality (P = .37) were not significantly different. In a multivariate model, adjusted cost of operative closure was 2012 US $60,992 versus 2012 US $55,841 for transcatheter closure (P cost favoring transcatheter closure were length of stay, medications, and follow-up radiologic and laboratory testing, overcoming higher costs of procedure and echocardiography. Professional costs did not differ. The rate of 30-day readmission was greater in the operative cohort, further increasing the cost advantage of transcatheter closure. Sensitivity analyses demonstrated that costs of follow-up visits influenced relative cost but that device closure remained favorable over a broad range of crossover and reintervention rates. Conclusion For single secundum ASD, cost comparison analysis favors transcatheter closure over the short term. The cost of follow-up regimens influences the cost advantage of transcatheter closure. PMID:25965721

  8. 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.

  9. The costs of radiosurgical treatment: Comparison between gamma knife and linear accelerator

    International Nuclear Information System (INIS)

    Koenigsmaier, H.; Pauli-Ferch, B. de; Hackl, A.; Pendl, G.

    1998-01-01

    Radiosurgical treatment can be carried out by means of a gamma knife or a linear accelerator. The linear accelerator may be either a single-purpose appliance, exclusively employed in radiosurgery, or an adapted appliance which is used primarily for fractioned radiotherapy, and only additionally for radiosurgical purposes. The first alternative will be referred to briefly as a 'dedicated Linac', the latter as an 'adapted Linac'. Cost accounting data for these alternatives will be discussed under three main categories: investment costs. operating costs, and finally staffing costs. Costs are only considered to the extent that this is necessary to facilitate a comprehensive cost comparison. Factors for which the costs remain the same or at least broadly the same will from the outset not be taken into consideration. These include, for instance, the costs of general or special administration, diagnosis, and image processing. The results and conclusions of this study therefore cannot be employed immediately in the evaluation of cost reimbursement schemes of the type carried out by agencies responsible for social insurance. Here, appropriate complete cost analyzes especially for this purpose are required. The final comprehensive cost comparison reveals that the adapted Linac is the most favourable alternative with small annual quantities of patients. With larger numbers of patients the Gamma Knife represents the most favourable from a cost accounting angle. The dedicated Linac accordingly does not have a cost advantage for any of the examined numbers of patients. Clearly the lowest treatment costs per patient can be achieved by employing a Gamma Knife and using it to capacity. (author)

  10. A Model for Shovel Capital Cost Estimation, Using a Hybrid Model of Multivariate Regression and Neural Networks

    Directory of Open Access Journals (Sweden)

    Abdolreza Yazdani-Chamzini

    2017-12-01

    Full Text Available Cost estimation is an essential issue in feasibility studies in civil engineering. Many different methods can be applied to modelling costs. These methods can be divided into several main groups: (1 artificial intelligence, (2 statistical methods, and (3 analytical methods. In this paper, the multivariate regression (MVR method, which is one of the most popular linear models, and the artificial neural network (ANN method, which is widely applied to solving different prediction problems with a high degree of accuracy, have been combined to provide a cost estimate model for a shovel machine. This hybrid methodology is proposed, taking the advantages of MVR and ANN models in linear and nonlinear modelling, respectively. In the proposed model, the unique advantages of the MVR model in linear modelling are used first to recognize the existing linear structure in data, and, then, the ANN for determining nonlinear patterns in preprocessed data is applied. The results with three indices indicate that the proposed model is efficient and capable of increasing the prediction accuracy.

  11. Economic burden of fire-related deaths in Finland, 2000-2010: Indirect costs using a human capital approach.

    Science.gov (United States)

    Haikonen, Kari; Lillsunde, Pirjo M; Lunetta, Philippe; Kokki, Esa

    2016-02-01

    The aim of this study was to examine the indirect economic burden of fire-related deaths in Finland in the period 2000-2010. The Human Capital (HC) approach was the main method used to estimate productivity losses due to fire-related deaths. Additionally, Potential Years of Life Lost (PYLL) due to deaths were reported. A total of 1090 fire-related deaths occurred in the period 2000-2010 within a population of some 5.4 million. The majority were male (76% vs 24%), with a mean age of 52 (CI: 51.0-53.2) years for males and 57 (CI: 54.6-59.6) for females; 24% (CI: 21.1-26.2%) of victims were over the retirement age. Most of the victims died of combustion gas poisoning (65%, CI: 61.8-67.6%), followed by burns (33%, CI: 30.6-36.3%). Alcohol was often involved and victims were often socially disadvantaged, with socioeconomic features significantly deviating from those of the general population. Annual PYLL ranged from 2094 (CI: 1861-2326) to 3299 (CI: 3008-3594), with an annual average PYLL of 2763 (CI: 2675-2851). PYLL per death fell in the study period from 34.3 (2000, CI: 31.0-37.7) to 24.6 (2010, CI: 21.8-27.6). The reduction is attributable to a decreasing fraction of young victims and an increase in average ages. Total productivity loss in the period 2000-2010 was c.a. EUR 342 million (CI: 330-354 million), giving an annual average of EUR 31.1 million (CI: 30.0-32.2 million), with the mean for a victim being EUR 0.315 million (CI: 0.30-0.33 million). The economic burden of deaths is considerable and this study remedies the lack of academic knowledge about the burden of fire-related deaths. Copyright © 2015 Elsevier Ltd and ISBI. All rights reserved.

  12. Production of synthetic methanol from air and water using controlled thermonuclear reactor power. 2. Capital investment and production costs

    Energy Technology Data Exchange (ETDEWEB)

    Dang, V D; Steinberg, M [Brookhaven National Lab., Upton, N.Y. (USA)

    1977-01-01

    Energy requirement and process development of methanol production from air and water using controlled thermonuclear fusion power was discussed in Part 1 (Steinberg et al., Energy conversion;17:97(1977)). This second part presents an economic analysis of the nine processes presented for obtaining carbon dioxide recovery from the atmosphere or the sea for methanol production. It is found that the most economical process of obtaining carbon dioxide is by stripping from sea water. The process of absorption/stripping by dilute potassium carbonate solution is found to be the most economical for the extraction of carbon dioxide from air at atmospheric pressure. The total energy required for methanol synthesis from these sources of carbon dioxide is 3.90 kWh(e)/lb methanol of which 90% is used for generation of hydrogen. The process which consumes the greatest amount of energy is the absorption/stripping of air by water at high pressure and amounts to 13.2 kWh(e)/lb methanol. With nuclear fusion power plants of 1000to 9000 MW(e), it is found that the cost of methanol using the extraction of carbon dioxide from air with dilute potassium carbonate solution is estimated to be in the range between Pound1.73 and Pound2.90/MMB.t.u. (energy equivalent - 1974 cost) for plant capacities of 21 400 to 193 000 bbl/day methanol. This methanol cost is competitive with gasoline in the range of 19 approximately equal to 33c/gallon. For the process of stripping of carbon dioxide from sea water, the cost is found to lie in the range of Pound1.65 to Pound2.71/MMB.t.u. (energy equivalent) for plant capacities of 21 700 to 195 000 bbl/day methanol which is competitive with gasoline in the range of 18 approximately equal to 30 c/gallon. Projection of methanol demand in the year 2020 is presented based on both its conventional use as chemicals and as a liquid fuel substituting for oil and gas.

  13. Electricity and fluid fuels from biomass and coal using advanced technologies: a cost comparison for developing country applications

    Energy Technology Data Exchange (ETDEWEB)

    Kartha, S; Larson, E D; Williams, R H [Center for Energy and Environment Studies School of Engineering and Applied Science, Princeton University, Princeton, NJ (United States); Katofsky, R E [Arthur D. Little Co., Cambridge, MA (United States); Chen, J [Thermo Fibertek, Inc., Auburn, MA (United States); Marrison, C I [Oliver, Wyman and Co., New York, NY (United States)

    1995-12-01

    Recent analyses of alternative global energy supply strategies, such as the forthcoming report of the Intergovernmental Panel on Climate Change (IPCC), to be published in 1996, have drawn attention to the possibility that biomass modernized with advanced technologies could play an important role in meeting global energy needs in the next century. This paper discusses two promising classes of advanced technologies that offer the potential for providing modem energy carriers (electricity and fluid fuels) from biomass at competitive costs within one or two decades. These technologies offer significantly more efficient use of land than currently commercial technologies for producing electricity and fluid fuels from biomass, as well as substantially improved energy balances. Electricity is Rely to be the first large market for modernized biomass, but the potential market for fluid fuel production is likely to be much larger. As coal is likely to present a more serious competitive challenge to biomass in the long run, we present an economic comparison with coal-based electricity and fluid fuels. A meaningful economic comparison between coal and biomass is possible because these feedstocks are sufficiently alike in their physical characteristics that similar conversion technologies may well be used for producing electricity and fluid fuels from them. When similar conversion technologies are used for both feedstocks, the relative costs of electricity or fluid fuels will be determined by the distinguishing technical characteristics of the feedstocks (sulphur content, moisture content and reactivity) and by the relative feedstock prices. Electric power generation from biomass and coal are compared here using an advanced integrated gasifier/gas turbine cycle that offers the potential for achieving high efficiency, low unit capital cost and low local pollutant emissions: the steam-injected gas turbine coupled to an air-blown gasifier. For both feedstocks, generation costs are

  14. Electricity and fluid fuels from biomass and coal using advanced technologies: a cost comparison for developing country applications

    International Nuclear Information System (INIS)

    Kartha, S.; Larson, E.D.; Williams, R.H.; Katofsky, R.E.; Chen, J.; Marrison, C.I.

    1995-01-01

    Recent analyses of alternative global energy supply strategies, such as the forthcoming report of the Intergovernmental Panel on Climate Change (IPCC), to be published in 1996, have drawn attention to the possibility that biomass modernized with advanced technologies could play an important role in meeting global energy needs in the next century. This paper discusses two promising classes of advanced technologies that offer the potential for providing modem energy carriers (electricity and fluid fuels) from biomass at competitive costs within one or two decades. These technologies offer significantly more efficient use of land than currently commercial technologies for producing electricity and fluid fuels from biomass, as well as substantially improved energy balances. Electricity is Rely to be the first large market for modernized biomass, but the potential market for fluid fuel production is likely to be much larger. As coal is likely to present a more serious competitive challenge to biomass in the long run, we present an economic comparison with coal-based electricity and fluid fuels. A meaningful economic comparison between coal and biomass is possible because these feedstocks are sufficiently alike in their physical characteristics that similar conversion technologies may well be used for producing electricity and fluid fuels from them. When similar conversion technologies are used for both feedstocks, the relative costs of electricity or fluid fuels will be determined by the distinguishing technical characteristics of the feedstocks (sulphur content, moisture content and reactivity) and by the relative feedstock prices. Electric power generation from biomass and coal are compared here using an advanced integrated gasifier/gas turbine cycle that offers the potential for achieving high efficiency, low unit capital cost and low local pollutant emissions: the steam-injected gas turbine coupled to an air-blown gasifier. For both feedstocks, generation costs are

  15. Corporate Social Capital and Public Relations : Capital Accumulation by Social Relationship and Rethinking the Definition of Public Relations

    OpenAIRE

    北見, 幸一

    2009-01-01

    This paper discusses Corporate Social Capital and Public Relations. This paper overviewed the Social Capital studies, especially early studies in sociology field, proposed the framework to evaluate Social Capital in a capital. Social Capital has the merit to reduce transaction costs, and should be clearly positioned as a component of capital of corporation. Using the concept of the Corporate Social Capital, to rethink the definition of Public Relations, this paper proposed the following defin...

  16. Dynamics of a Bertrand duopoly with differentiated products and nonlinear costs: Analysis, comparisons and new evidences

    International Nuclear Information System (INIS)

    Brianzoni, Serena; Gori, Luca; Michetti, Elisabetta

    2015-01-01

    This paper studies mathematical properties and dynamics of a duopoly with price competition and horizontal product differentiation by introducing quadratic production costs (decreasing returns to scale), thus extending the model with linear costs (constant returns to scale) of Fanti et al. [11]. The economy is described by a two-dimensional non-invertible discrete time dynamic system. The paper first determines fixed points and other invariant sets, showing that synchronized dynamics can occur. Then, stability properties are compared in the cases of quadratic costs and linear costs by considering the degree of product differentiation and the speed of adjustment of prices as key parameters. It is also shown that synchronization takes place if products tend to be relatively complements and stressed similarities and differences between models with quadratic and linear costs. Finally, the paper focuses on the phenomenon of multistability thus underlying new evidences in comparison with the model with linear costs.

  17. Comparison of standardised decommissioning costing tools on pilot Vienna TRIGA MARK-II research reactor

    International Nuclear Information System (INIS)

    Hornacek, M.; Kristofova, K.; Slugen, V.; Zachar, M.; Stummer, T.

    2017-01-01

    The main purpose of the paper is to compare decommissioning costing code CERREX (Cost Estimation for Research Reactors in Excel) with advanced calculation methodology applied in eOMEGA-RR code. CERREX code was developed in line with the IAEA recommendations for decommissioning costing of research facilities and fully implements the ISDC (International Structure for Decommissioning Costing of Nuclear Installations) structure and costing methodology. In comparison with CERREX, usually applied in preliminary costing, the code eOMEGA-RR incorporates the realistic activity and material flow during decommissioning process (e.g. decontamination, dismantling and waste management). This advanced approach enables to carry out the decommissioning planning and costing more effectively. Moreover, the user-friendly interface helps to perform wide range of sensitivity analyses. In order to meet the above mentioned objectives, the model calculation costing case for TRIGA MARK-II research reactor in Vienna was developed in both calculation codes. The whole process covered four step-by-step procedures to be implemented. At first, inventory database taking into account physical as well as radiological parameters (e.g.: contamination, dose rates, nuclide vectors, limits and conditions) was developed. At second, advanced decommissioning costing case using CERREX and eOMEGA-RR code was created. At third, sensitivity analyses to estimate the impact of changing input parameters on calculated results were performed. Finally, costing results obtained from both cost calculation codes are compared and discussed. (authors)

  18. Wind pumps for agriculture: Cost and environmental benefits (comparisons with electric and combustion engine driven pumps)

    International Nuclear Information System (INIS)

    Piccoli, F.

    1991-01-01

    After describing initial and running costs of a group of wind-pumps, the author calculates and compares, as far as agricultural and zootechnical purposes are concerned, the costs for each cubic meter of water extracted through wind-powered, electric and internal-combustion engines. The comparisons clearly show, under adequate wind conditions, that wind-pumps are economically more suitable than electric and motor pumps with similar delivery heads

  19. Capital gains

    International Nuclear Information System (INIS)

    Blishen, C.

    1997-01-01

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

  20. Understanding Capitalism

    DEFF Research Database (Denmark)

    du Gay, Paul; Morgan, Glenn

    2013-01-01

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

  1. Spatial data mining of pipeline data provides new wave of O and M capital cost optimization opportunities

    Energy Technology Data Exchange (ETDEWEB)

    Richardson, D. [QM4 Engineering Ltd., Calgary, AB (Canada)

    2010-07-01

    This paper discussed the cost optimization benefits of spatial data mining in upstream oil and gas pipeline operations. The data mining method was used to enhance the characterization and management of internal corrosion risk and to optimize pipeline corrosion inhibition, as well as to identify pipeline network hydraulic bottlenecks. The data mining method formed part of a quality-based pipeline integrity management program. Results of the data mining study highlighted trends in well operational data and historical pipeline failure events. Use of the methodology resulted in significant savings. It was demonstrated that the key to a successful pipeline management model is a complete inventory characterization and determination of failure susceptibility profiles through the application of rigorous data standards. 4 tabs., 8 figs.

  2. Comparison of the theoretical and practical approaches to funding through the IPO way in the Czech capital market

    Directory of Open Access Journals (Sweden)

    Tomáš Meluzín

    2008-01-01

    Full Text Available Funding development of the company through the “Initial Public Offering” has a high representation globally, the Czech Republic unlike, and belongs to traditional methods of raising funds necessary for development of business in the developed capital markets. In the United States of America, Japan and in the Western Europe countries the method of company funding through IPO has been applying for several decades already. The first public stock offerings began to be applied in these markets in higher volumes from the beginning of the 60th of the last century. From that period importance of IPO goes up globally and the initial public stock offerings begin to be applied more and more even in the Central and Eastern European countries. In the conditions of the Czech capital market it is possible to identify only few companies, who attempted to funding through the IPO way at present. Greater part of the Czech companies still undergo the debit funding for financing their further development, namely in the form of bank loans. At the same time it is necessary to take into account, that the debit financing starts, thanks to so-called mortgage crisis in the USA, causing problems and mark up. Admittance of a stakeholder into the company is not convenient for all and thus IPO represents an interesting option of how to acquire a no arrear capital. The aim of this article is to determine the IPO concept, analyse its development at the world stockholder markets, describe the reasons for IPO implementation according to the contemporary professional literature and compare it with the approaches to this particular form of funding with companies that have already implemented IPO at the Czech capital market.

  3. A COMPARISON OF THE CAPITAL STRUCTURES OF THE TOP 40MULTINATIONAL ENTITIES AND THE TOP 40 JSE-LISTED ENTITIES

    Directory of Open Access Journals (Sweden)

    Lana H. Harmse

    2017-01-01

    Full Text Available The strategies and policies of multinational entities (MNEscentre onthe focalgoal of any company, which isto maximise profits and shareholder wealth.Management aims for an optimum ownership structure by implementing variousstrategies. One of these strategies is the debt-to-equity ratio (the capital structure.Previous studiesconductedonvariouscountries’locally-listed entities confirmthat the capital structure of an entity has an impact on the value ofthat entity.Thisthen raisesan interesting question as to whetherthecapital structures ofthetop 40Johannesburg Stock Exchange (JSE-listedentitiesare similar to those ofthe top40 global MNEs.Based on market capitalisation on 31December2014, this studysought to compare the capital structures,using the debt-to-equity ratio,ofthe top40JSE-listed entitieswith those ofthe top 40globalMNEs on the Fortune 500list.Independent t-testswere performed on thedebt-to-equity ratios of thetop 40JSE-listed entities and the top 40globalMNEsas a group.Both independent t-tests and the Mann-Whitney testswereperformedonthedebt-to-equity ratiosofapplicable entities of the group divided into threeselectedindustries. The resultsof theindependent t-testindicateastatistical andpractically significant differencebetween the top 40 JSE-listed entities and the top 40 global MNEs’ capitalstructures.The resultsof the Mann-Whitney testsindicatethat if the financialindustry is excluded,there isnostatistical orpractically significant differencebetween the capital structures of the top 40 JSE-listed entities and the top 40MNEs.However, based on the effect size there is a practical visible difference.

  4. Methodologies and Decision Criteria for Demonstrating Competitiveness of Small and Medium Sized Reactors - Present Value Capital Cost Model. Annex VIII

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2013-12-15

    Smaller size reactors are required to fulfil the growing energy needs of developing countries and emerging markets, as well as niche markets in developed countries. Grid appropriate reactors have been identified within the United States Department of Energy Global Nuclear Energy Partnership initiative as one of the key elements required to enable worldwide expansion of the peaceful use of nuclear power. In a speech at a conference in Algiers on 9 January 2007, the former IAEA Director General, Mohamed El Baradei, discussed the interest in new small and medium-size reactor designs which allow a more incremental investment than is required for a big reactor, and provide a better match to grid capacity in many developing countries'. Smaller size reactors (IAEA defines as 'small' those reactors with a power <300 MW(e) and 'medium' with a power <700 MW(e)) are the logical choice for smaller countries or those with a limited electrical grid. In fact, smaller reactors are now in different stages of development throughout the world, and interest in their deployment has also been expressed. With regards to decisions on the addition of power plant capacity, small reactors have many attractive characteristics, namely size, simplicity, enhanced safety, cost savings and lower financial resource requirements. On the downside, the specific costs of some components and systems of small and medium sized reactors (SMRs) may be higher as a result of economy of scale effects. This annex explores some of the factors affecting decisions on power plant capacity addition in world markets, focusing particularly on many of the characteristics of SMRs.

  5. 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

  6. 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.

  7. Is integrated nursing home care cheaper than traditional care? A cost comparison.

    Science.gov (United States)

    Paulus, Aggie T G; van Raak, Arno J A; Maarse, Hans J A M

    2008-12-01

    It is generally assumed that integrated care has a cost-saving potential in comparison with traditional care. However, there is little evidence on this potential with respect to integrated nursing home care. DESIGN/METHODS/SETTINGS/PARTICIPANTS: Between 1999 and 2003, formal and informal caregivers of different nursing homes in the Netherlands recorded activities performed for residents with somatic or psycho-social problems. In total, 23,380 lists were analysed to determine the average costs of formal and informal care per activity, per type of resident and per nursing home care type. For formal care activities, the total personnel costs per minute (in Euro) were calculated. For informal care costs, two shadow prices were used. Compared to traditional care, integrated care had lower informal direct care costs per resident and per activity and lower average costs per direct activity (for a set of activities performed by formal caregivers). The total average costs per resident per day and the costs of formal direct care per resident, however, were higher as were the costs of delivering a set of indirect activities to residents with somatic problems. The general assumption that integrated care has a cost-saving potential (per resident or per individual activity) was only partially supported by our research. Our study also raised issues which should be investigated in future research on integrated nursing home care.

  8. A cost comparison of introducing and delivering pneumococcal, rotavirus and human papillomavirus vaccines in Rwanda.

    Science.gov (United States)

    Ngabo, Fidèle; Levin, Ann; Wang, Susan A; Gatera, Maurice; Rugambwa, Celse; Kayonga, Celestin; Donnen, Philippe; Lepage, Philippe; Hutubessy, Raymond

    2015-12-16

    Detailed cost evaluations of delivery of new vaccines such as pneumococcal conjugate, human papillomavirus (HPV), and rotavirus vaccines in low and middle-income countries are scarce. This paper differs from others by comparing the costs of introducing multiple vaccines in a single country and then assessing the financial and economic impact at the time and implications for the future. The objective of the analysis was to understand the introduction and delivery cost per dose or per child of the three new vaccines in Rwanda to inform domestic and external financial resource mobilization. Start-up, recurrent, and capital costs from a government perspective were collected in 2012. Since pneumococcal conjugate and HPV vaccines had already been introduced, cost data for those vaccines were collected retrospectively while prospective (projected) costing was done for rotavirus vaccine. The financial unit cost per fully immunized child (or girl for HPV vaccine) of delivering 3 doses of each vaccine (without costs related to vaccine procurement) was $0.37 for rotavirus (RotaTeq(®)) vaccine, $0.54 for pneumococcal (Prevnar(®)) vaccine in pre-filled syringes, and $10.23 for HPV (Gardasil (®)) vaccine. The financial delivery costs of Prevnar(®) and RotaTeq(®) were similar since both were delivered using existing health system infrastructure to deliver infant vaccines at health centers. The total financial cost of delivering Gardasil(®) was higher than those of the two infant vaccines due to greater resource requirements associated with creating a new vaccine delivery system in for a new target population of 12-year-old girls who have not previously been served by the existing routine infant immunization program. The analysis indicates that service delivery strategies have an important influence on costs of introducing new vaccines and costs per girl reached with HPV vaccine are higher than the other two vaccines because of its delivery strategy. Documented information

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

    International Nuclear Information System (INIS)

    Rocha, Katia; Camacho, Fernando; Braganca, Gabriel

    2007-01-01

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

  11. 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...

  12. Cost-benefit comparison of nuclear and nonnuclear health and safety protective measures and regulations

    International Nuclear Information System (INIS)

    O'Donnell, E.P.; Mauro, J.J.

    1979-01-01

    This article compares the costs and benefits of health and safety measures and regulations in the nuclear and nonnuclear fields. A cost-benefit methodology for nuclear safety concerns is presented and applied to existing nuclear plant engineered safety features. Comparisons in terms of investment costs to achieve reductions in mortality rates are then made between nuclear plant safety features and the protective measures and regulations associated with nonnuclear risks, particularly with coal-fired power plants. These comparisons reveal a marked inconsistency in the cost effectiveness of health and safety policy, in which nuclear regulatory policy requires much greater investments to reduce the risk of public mortality than is required in nonnuclear areas where reductions in mortality rates could be achieved at much lower cost. A specific example of regulatory disparity regarding gaseous effluent limits for nuclear and fossil-fuel power plants is presented. It is concluded that a consistent health and safety regulatory policy based on uniform risk and cost-benefit criteria should be adopted and that future proposed Nuclear Regulatory Commission regulatory requirements should be critically evaluated from a cost-benefit viewpoint

  13. Cost/benefit comparison of thermal solar energy systems in Switzerland

    International Nuclear Information System (INIS)

    Suter, J.M.

    1991-10-01

    A comparison is made between thermal solar energy systems of different size for five different applications in the three main climatic zones in Switzerland. Conventional ways of energy conservation are also included in the comparison. A cost/benefit ratio is calculated for each system. The investment is used as a cost indicator whereas the useful solar heat or the conventional energy saving is chosen as benefit. It is shown that the most systems sold today in Switzerland - combined hot water and space heating systems for single family houses - have the poorest cost/benefit ratio among all systems considered in the analysis. Four applications with more favourable cost/benefit ratio are identified. Large systems have generally a better cost/benefit ratio than smaller ones, although the total investment is higher. Photovoltaics is even less favourable than all thermal systems considered. The large scale penetration of technologies with good cost/benefit ratio lies in the public interest. Supporting activities should consider the priority set by the cost/benefit ratio. (author) 1 fig., 14 refs

  14. How much electricity really costs. Comparison of the state subsidisation and overall social costs of conventional and renewable energy resources

    International Nuclear Information System (INIS)

    Kuechler, Swantje; Meyer, Bettina

    2012-01-01

    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

  15. 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.

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

    International Nuclear Information System (INIS)

    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

  17. Methods for cost management during product development: A review and comparison of different literatures

    NARCIS (Netherlands)

    Wouters, M.; Morales, S.; Grollmuss, S.; Scheer, M.

    2016-01-01

    Purpose The paper provides an overview of research published in the innovation and operations management (IOM) literature on 15 methods for cost management in new product development, and it provides a comparison to an earlier review of the management accounting (MA) literature (Wouters & Morales,

  18. Adjusting Teacher Salaries for the Cost of Living: The Effect on Salary Comparisons and Policy Conclusions

    Science.gov (United States)

    Stoddard, C.

    2005-01-01

    Teaching salaries are commonly adjusted for the cost of living, but this incorrectly accounts for welfare differences across states. Adjusting for area amenities and opportunities, however, produces more accurate salary comparisons. Amenities and opportunities can be measured by the wage premium other workers in a state face. The two methods…

  19. 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 a...

  20. 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

  1. WORKING MACHINE-HOUR COST COMPARISON OF MODERN ROAD COVERAGE PROCESSING MECHANIZATION

    Directory of Open Access Journals (Sweden)

    Dilyara Kyazymovna Izmaylova

    2017-09-01

    Full Text Available In the article there are mentioned features of alternative mechanization machine-hour cost calculations. Also determined analytical dependencies of calculating the expenses of ownership and maintenance. Given a comparison of expense items of various options for the processing implementation. The analysis is based on the international organizing experience for these types of work.

  2. 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.

  3. 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.

  4. International comparison of cost of falls in older adults living in the community: a systematic review.

    Science.gov (United States)

    Davis, J C; Robertson, M C; Ashe, M C; Liu-Ambrose, T; Khan, K M; Marra, C A

    2010-08-01

    Our objective was to determine international estimates of the economic burden of falls in older people living in the community. Our systematic review emphasized the need for a consensus on methodology for cost of falls studies to enable more accurate comparisons and subgroup-specific estimates among different countries. The purpose of this study was to determine international estimates of the economic burden of falls in older people living in the community. This is a systematic review of peer-reviewed journal articles reporting estimates for the cost of falls in people aged > or =60 years living in the community. We searched for papers published between 1945 and December 2008 in MEDLINE, PUBMED, EMBASE, CINAHL, Cochrane Collaboration, and NHS EED databases that identified cost of falls in older adults. We extracted the cost of falls in the reported currency and converted them to US dollars at 2008 prices, cost items measured, perspective, time horizon, and sensitivity analysis. We assessed the quality of the studies using a selection of questions from Drummond's checklist. Seventeen studies met our inclusion criteria. Studies varied with respect to viewpoint of the analysis, definition of falls, identification of important and relevant cost items, and time horizon. Only two studies reported a sensitivity analysis and only four studies identified the viewpoint of their economic analysis. In the USA, non-fatal and fatal falls cost US $23.3 billion (2008 prices) annually and US $1.6 billion in the UK. The economic cost of falls is likely greater than policy makers appreciate. The mean cost of falls was dependent on the denominator used and ranged from US $3,476 per faller to US $10,749 per injurious fall and US $26,483 per fall requiring hospitalization. A consensus on methodology for cost of falls studies would enable more accurate comparisons and subgroup-specific estimates among different countries.

  5. World wide spatial capital.

    Directory of Open Access Journals (Sweden)

    Rijurekha Sen

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

  6. Comparison of costs for alternative mixed low-level waste treatment systems

    International Nuclear Information System (INIS)

    Schwinkendorf, W.E.; Harvego, L.; Cooley, C.R.; Biagi, C.

    1996-01-01

    Total life cycle costs (TLCCs), including disposal costs, of thermal, nonthermal and enhanced nonthermal systems were evaluated to guide future research and development programs for the treatment of mixed low-level waste (MLLW) consisting of RCRA hazardous and low-level radioactive wastes. In these studies, nonthermal systems are defined as those systems that process waste at temperatures less than 350 C. Preconceptual designs and costs were developed for thirty systems with a capacity (2,927 lbs/hr) to treat the DOE MLLW stored inventor y(approximately 236 million pounds) in 20 years in a single, centralized facility. A limited comparison of the studies' results is presented in this paper. Sensitivity of treatment costs with respect to treatment capacity, number of treatment facilities, and system availability were also determined. The major cost element is operations and maintenance (O and M), which is 50 to 60% of the TLCC for both thermal and nonthermal systems. Energy costs constitute a small fraction (< 1%) of the TLCCs. Equipment cost is only 3 to 5% of the treatment cost. Evaluation of subsystem costs demonstrate that receiving and preparation is the highest cost subsystem at about 25 to 30% of the TLCC for both thermal and nonthermal systems. These studies found no cost incentives to use nonthermal or hybrid (combined nonthermal treatment with stabilization by vitrification) systems in place of thermal systems. However, there may be other incentives including fewer air emissions and less local objection to a treatment facility. Building multiple treatment facilities to treat the same total mass of waste as a single facility would increase the total treatment cost significantly, and improved system availability decreases unit treatment costs by 17% to 30%

  7. 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

  8. A cross-sectional analysis of the cost and affordability of achieving recommended intakes of non-starchy fruits and vegetables in the capital of Vanuatu.

    Science.gov (United States)

    Jones, Holly A; Charlton, Karen E

    2015-03-28

    The low-income Pacific Island nation of Vanuatu is experiencing a double burden of diet-related disease whereby micronutrient deficiencies and underweight occur at the same time as obesity related non-communicable diseases. Increasing intakes of nutrient dense, energy dilute foods such as fruits and vegetables will be important to address this issue. However, reduced access to agricultural land in urban areas provides limited opportunities for traditional subsistence fruit and vegetable production. Set in Port Vila, Vanuatu's capital and main urban centre, this study aimed to determine the cost and affordability of meeting international recommendations to consume at least 400 g of non-starchy fruits and vegetables (NSFV) per person per day, and assess the adequacy of households' NSFV expenditure. NSFV prices from the 2010 Vanuatu Consumer Price Index (n = 56) were used to determine the minimum monthly cost of purchasing 400 g of local NSFV per person, after accounting for wastage. The 2010 Vanuatu Household Income and Expenditure Survey (n = 578 households) was analysed to determine the proportion of households' total and food budget required to purchase 400 g of local NSFV for all household members. Household NSFV costs were also compared against actual household expenditure on these items. Consumption of own-produce and gifts received were included within estimates of food expenditure. The minimum cost of purchasing the recommended amount of local NSFV was 1,486.24 vatu ($16.60 US) per person per month. This level of expenditure would require an average of 9.6% (SD 6.4%) of households' total budget and 26.3% (SD 25.8%) of their food budget. The poorest households would need to allocate 40.9% (SD 34.3%) of their total food budget to NSFV to purchase recommended amounts of these foods. Twenty-one percent of households recorded sufficient NSFV expenditure while 23.4% recorded less than 10% of the expenditure required to meet the NSFV recommendations

  9. Venture Capital

    National Research Council Canada - National Science Library

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

    2006-01-01

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

  10. Cost Comparison Model: Blended eLearning versus traditional training of community health workers.

    Science.gov (United States)

    Sissine, Mysha; Segan, Robert; Taylor, Mathew; Jefferson, Bobby; Borrelli, Alice; Koehler, Mohandas; Chelvayohan, Meena

    2014-01-01

    Another one million community healthcare workers are needed to address the growing global population and increasing demand of health care services. This paper describes a cost comparison between two training approaches to better understand costs implications of training community health workers (CHWs) in Sub-Saharan Africa. Our team created a prospective model to forecast and compare the costs of two training methods as described in the Dalburge Report - (1) a traditional didactic training approach ("baseline") and (2) a blended eLearning training approach ("blended"). After running the model for training 100,000 CHWs, we compared the results and scaled up those results to one million CHWs. A substantial difference exists in total costs between the baseline and blended training programs. RESULTS indicate that using a blended eLearning approach for training community health care workers could provide a total cost savings of 42%. Scaling the model to one million CHWs, the blended eLearning training approach reduces total costs by 25%. The blended eLearning savings are a result of decreased classroom time, thereby reducing the costs associated with travel, trainers and classroom costs; and using a tablet with WiFi plus a feature phone rather than a smartphone with data plan. The results of this cost analysis indicate significant savings through using a blended eLearning approach in comparison to a traditional didactic method for CHW training by as much as 67%. These results correspond to the Dalberg publication which indicates that using a blended eLearning approach is an opportunity for closing the gap in training community health care workers.

  11. Expanding the usefulness of unit supply cost

    International Nuclear Information System (INIS)

    McKenzie, M.B.; Petr, K.

    1992-01-01

    Unit supply cost is a widely used tool in the energy business for providing a one number-unit cost description. For example, controllable costs such as finding costs, development costs and operating costs have traditionally been described in an average cost per unit of reserves format for the oil and gas industry, however using this approach on more specific applications is not always informative. Projects with widely varying controllable parameters can still yield the same unit cost, making comparisons difficult. The application of unit supply cost can be readily expanded by adding a new unit cost component termed cost of capital. This element introduces the impacts of timing and return on investment into the supply cost determination through discounting annual costs. The cost of capital component adds the ability to represent a project's unique characteristics, particularly reserves' depletion rate and the timing or phasing of development. Introducing the cost of capital element into the supply cost analysis provides additional information and improves the likelihood of drawing correct conclusions when comparing and ranking projects. 4 figs., 6 tabs

  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 comparison of very high temperature nuclear reactors for process heat applications

    International Nuclear Information System (INIS)

    Crowley, J.H.; Newman, J.B.

    1975-03-01

    In April 1974, the United States Atomic Energy Commission (USAEC) authorized General Atomic Company, General Electric Company and Westinghouse Astronuclear Laboratory to assess the available technology for producing process heat utilizing very high temperature nuclear reactors. General Electric and Westinghouse produced concepts for the entire nuclear system, including the balance of plant. The General Atomic assessment included only the nuclear reactor portion of the nuclear plant. United Engineers and Constructors Inc. (UE and C) was requested by the USAEC in November 1974 to prepare an economic comparison of the three conceptual plants. The comparison is divided into three tasks: (1) Develop a balance of plant conceptual design to be combined with the General Atomic concept as a basis for comparison, and estimate the cost of the General Atomic/UE and C concept in July 1974 dollars; (2) Normalize the overall plant costs for the General Atomic/UE and C, General Electric and Westinghouse concepts, compare the costs, and identify significant differences between the concepts; and (3) Estimate the operation and maintenance costs for the General Atomic/UE and C plant and compare with the other concepts. The results of these task studies are discussed

  15. Comparison of SUREPAK life cycle costs to other methods of low-level radioactive waste management

    International Nuclear Information System (INIS)

    Winston, S.J.; Little, C.C.

    1985-01-01

    Comparisons of costs of low-level radioactive waste management techniques invariably degenerate into parochial arguments over differences in commercial objectives. The purpose of this paper is to establish a common basis for comparing technologies and then to examine the result as a complete cycle instead of a snapshot view taken at an arbitrary point in the progression. One objective is to portray cost sensitivity in terms of the options available for waste management. A second, perhaps less obvious, point is the definition of cost factors hidden from the short-term view. The final objective is to show the cumulative effects of costs externally imposed without reference to the technology employed (e.g., legislated surcharges based on arbitrary parameters)

  16. 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.

  17. The cost-effectiveness of IVF in the UK: a comparison of three gonadotrophin treatments.

    Science.gov (United States)

    Sykes, D; Out, H J; Palmer, S J; van Loon, J

    2001-12-01

    The objective of this study was to evaluate the cost-effectiveness of women undergoing IVF treatment with recombinant FSH (rFSH) in comparison with highly purified urinary FSH (uFSH-HP) and human menopausal gonadotrophins (HMG). A decision-analytic model was used to estimate cost-effectiveness ratios for 'the average cost per ongoing pregnancy' and 'incremental cost per additional pregnancy' for women entering into IVF treatment for a maximum of three cycles. The model was constructed based on a previously published large prospective randomized clinical trial comparing rFSH and uFSH-HP. Where necessary, these data were augmented with a combination of expert opinion, evidence from the literature and observational data relating to the management and cost of IVF treatment in the UK. The cost of rFSH, uFSH-HP and HMG were obtained from National Health Service list prices in the UK. The model predicted a cumulative pregnancy rate after three cycles of 57.1% for rFSH and 44.4% for both uFSH-HP and HMG. The cost of IVF treatment was 5135 pounds sterling for rFSH, 4806 pounds sterling for uFSH-HP and 4202 pounds sterling for HMG. When assessed in association with outcomes, the average cost per ongoing pregnancy was more favourable with rFSH (8992 pounds sterling) than with either uFSH-HP (10 834 pounds sterling) or HMG (9472 pounds sterling). The incremental cost per additional pregnancy was 2583 pounds sterling using rFSH instead of uFSH-HP and 7321 pounds sterling using rFSH instead of HMG. These results were robust to changes in the baseline assumptions of the model. rFSH is a cost-effective treatment strategy in ovulation induction prior to IVF.

  18. 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)

  19. Cost comparison of orthopaedic fracture pathways using discrete event simulation in a Glasgow hospital

    Science.gov (United States)

    Jenkins, Paul J; McDonald, David A; Van Der Meer, Robert; Morton, Alec; Nugent, Margaret; Rymaszewski, Lech A

    2017-01-01

    Objective Healthcare faces the continual challenge of improving outcome while aiming to reduce cost. The aim of this study was to determine the micro cost differences of the Glasgow non-operative trauma virtual pathway in comparison to a traditional pathway. Design Discrete event simulation was used to model and analyse cost and resource utilisation with an activity-based costing approach. Data for a full comparison before the process change was unavailable so we used a modelling approach, comparing a virtual fracture clinic (VFC) with a simulated traditional fracture clinic (TFC). Setting The orthopaedic unit VFC pathway pioneered at Glasgow Royal Infirmary has attracted significant attention and interest and is the focus of this cost study. Outcome measures Our study focused exclusively on patients with non-operative trauma attending emergency department or the minor injuries unit and the subsequent step in the patient pathway. Retrospective studies of patient outcomes as a result of the protocol introductions for specific injuries are presented in association with activity costs from the models. Results Patients are satisfied with the new pathway, the information provided and the outcome of their injuries (Evidence Level IV). There was a 65% reduction in the number of first outpatient face-to-face (f2f) attendances in orthopaedics. In the VFC pathway, the resources required per day were significantly lower for all staff groups (p≤0.001). The overall cost per patient of the VFC pathway was £22.84 (95% CI 21.74 to 23.92) per patient compared with £36.81 (95% CI 35.65 to 37.97) for the TFC pathway. Conclusions Our results give a clearer picture of the cost comparison of the virtual pathway over a wholly traditional f2f clinic system. The use of simulation-based stochastic costings in healthcare economic analysis has been limited to date, but this study provides evidence for adoption of this method as a basis for its application in other healthcare settings

  20. Cost comparison of orthopaedic fracture pathways using discrete event simulation in a Glasgow hospital.

    Science.gov (United States)

    Anderson, Gillian H; Jenkins, Paul J; McDonald, David A; Van Der Meer, Robert; Morton, Alec; Nugent, Margaret; Rymaszewski, Lech A

    2017-09-07

    Healthcare faces the continual challenge of improving outcome while aiming to reduce cost. The aim of this study was to determine the micro cost differences of the Glasgow non-operative trauma virtual pathway in comparison to a traditional pathway. Discrete event simulation was used to model and analyse cost and resource utilisation with an activity-based costing approach. Data for a full comparison before the process change was unavailable so we used a modelling approach, comparing a virtual fracture clinic (VFC) with a simulated traditional fracture clinic (TFC). The orthopaedic unit VFC pathway pioneered at Glasgow Royal Infirmary has attracted significant attention and interest and is the focus of this cost study. Our study focused exclusively on patients with non-operative trauma attending emergency department or the minor injuries unit and the subsequent step in the patient pathway. Retrospective studies of patient outcomes as a result of the protocol introductions for specific injuries are presented in association with activity costs from the models. Patients are satisfied with the new pathway, the information provided and the outcome of their injuries (Evidence Level IV). There was a 65% reduction in the number of first outpatient face-to-face (f2f) attendances in orthopaedics. In the VFC pathway, the resources required per day were significantly lower for all staff groups (p≤0.001). The overall cost per patient of the VFC pathway was £22.84 (95% CI 21.74 to 23.92) per patient compared with £36.81 (95% CI 35.65 to 37.97) for the TFC pathway. Our results give a clearer picture of the cost comparison of the virtual pathway over a wholly traditional f2f clinic system. The use of simulation-based stochastic costings in healthcare economic analysis has been limited to date, but this study provides evidence for adoption of this method as a basis for its application in other healthcare settings. © Article author(s) (or their employer(s) unless otherwise

  1. Comparison of Cloud vs. Tape Backup Performance and Costs with Oracle Database

    OpenAIRE

    Zrnec, Aljaž; Lavbič, Dejan

    2011-01-01

    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 Ora...

  2. Human–social capital and market access factors influencing agro-processing participation by small-scale agripreneurs: The moderating effects of transaction costs

    Directory of Open Access Journals (Sweden)

    Lesibana M.V. Thindisa

    2018-03-01

    Contribution: Study findings are highly relevant to South Africa as agro-processing and value-adding activities are not always scale dependent, and hence, a focus on human and social capital is valuable.

  3. Socio-economic research on fusion. SERF 1997-98. Macro Tast E2: External costs and benefits. Task 2: Comparison of external costs

    International Nuclear Information System (INIS)

    Schleisner, Lotte; Korhonen, Riitta

    1998-12-01

    This report is part of the SERF (Socio-Economic Research on Fusion) project, Macro Task E2, which covers External Costs and Benefits. The report is the documentation of Task 2, Comparison of External Costs. The aim of Task 2 Comparison of External Costs, has been to compare the external costs of the fusion energy with those from other alternative energy generation technologies. In this task identification and quantification of the external costs for wind energy and photovoltaic have been performed by Risoe, while identification and quantification of the external cost for nuclear fission and fossil fuels have been discussed by VTT. The methodology used for the assessment of the externalities of the fuel cycles selected has been the one developed within the ExternE Project. First estimates for the externalities of fusion energy have been under examination in Macrotask E2. Externalities of fossil fuels and nuclear fission have already been evaluated in the ExternE project and a vast amount of material for different sites in various countries is available. This material is used in comparison. In the case of renewable wind energy and photovoltaic are assessed separately. External costs of the various alternatives may change as new technologies are developed and costs can to a high extent be avoided (e.g. acidifying impacts but also global warming due to carbon dioxide emissions). Also fusion technology can experience major progress and some important cost components probably can be avoided already by 2050. (EG)

  4. Socio-economic research on fusion. SERF 1997-98. Macro Tast E2: External costs and benefits. Task 2: Comparison of external costs

    Energy Technology Data Exchange (ETDEWEB)

    Schleisner, Lotte; Korhonen, Riitta

    1998-12-01

    This report is part of the SERF (Socio-Economic Research on Fusion) project, Macro Task E2, which covers External Costs and Benefits. The report is the documentation of Task 2, Comparison of External Costs. The aim of Task 2 Comparison of External Costs, has been to compare the external costs of the fusion energy with those from other alternative energy generation technologies. In this task identification and quantification of the external costs for wind energy and photovoltaic have been performed by Risoe, while identification and quantification of the external cost for nuclear fission and fossil fuels have been discussed by VTT. The methodology used for the assessment of the externalities of the fuel cycles selected has been the one developed within the ExternE Project. First estimates for the externalities of fusion energy have been under examination in Macrotask E2. Externalities of fossil fuels and nuclear fission have already been evaluated in the ExternE project and a vast amount of material for different sites in various countries is available. This material is used in comparison. In the case of renewable wind energy and photovoltaic are assessed separately. External costs of the various alternatives may change as new technologies are developed and costs can to a high extent be avoided (e.g. acidifying impacts but also global warming due to carbon dioxide emissions). Also fusion technology can experience major progress and some important cost components probably can be avoided already by 2050. (EG) 36 refs.

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

    International Nuclear Information System (INIS)

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

    1984-01-01

    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)

  6. What can we learn from international comparisons of costs by DRG?

    Science.gov (United States)

    Pirson, M; Schenker, L; Martins, D; Dung, Duong; Chalé, J J; Leclercq, P

    2013-02-01

    The objective of this study was to compare costs data by diagnosis related group (DRG) between Belgium and Switzerland. Our hypotheses were that differences between countries can probably be explained by methodological differences in cost calculations, by differences in medical practices and by differences in cost structures within the two countries. Classifications of DRG used in the two countries differ (AP-DRGs version 1.7 in Switzerland and APR-DRGs version 15.0 in Belgium). The first step of this study was to transform Belgian summaries into Swiss AP-DRGs. Belgian and Swiss data were calculated with a clinical costing methodology (full costing). Belgian and Swiss costs were converted into US$ PPP (purchasing power parity) in order to neutralize differences in purchasing power between countries. The results of this study showed higher costs in Switzerland despite standardization of cost data according to PPP. The difference is not explained by the case-mix index because this was similar for inliers between the two countries. The length of stay (LOS) was also quite similar for inliers between the two countries. The case-mix index was, however, higher for high outliers in Belgium, as reflected in a higher LOS for these patients. Higher costs in Switzerland are thus probably explained mainly by the higher number of agency staff by service in this country or because of differences in medical practices. It is possible to make international comparisons but only if there is standardization of the case-mix between countries and only if comparable accountancy methodologies are used. Harmonization of DRGs groups, nomenclature and accountancy is thus required.

  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. Allergy Capitals

    Science.gov (United States)

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

  9. Capital Unchained

    DEFF Research Database (Denmark)

    Bryan, Dick; Rafferty, Michael; Wigan, Duncan

    2017-01-01

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

  10. 47 CFR 36.182 - Cash working capital.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Cash working capital. 36.182 Section 36.182... PROCEDURES; STANDARD PROCEDURES FOR SEPARATING TELECOMMUNICATIONS PROPERTY COSTS, REVENUES, EXPENSES, TAXES... Cash Working Capital § 36.182 Cash working capital. (a) The amount for cash working capital, if not...

  11. 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

  12. A Comparison of Four Software Programs for Implementing Decision Analytic Cost-Effectiveness Models.

    Science.gov (United States)

    Hollman, Chase; Paulden, Mike; Pechlivanoglou, Petros; McCabe, Christopher

    2017-08-01

    The volume and technical complexity of both academic and commercial research using decision analytic modelling has increased rapidly over the last two decades. The range of software programs used for their implementation has also increased, but it remains true that a small number of programs account for the vast majority of cost-effectiveness modelling work. We report a comparison of four software programs: TreeAge Pro, Microsoft Excel, R and MATLAB. Our focus is on software commonly used for building Markov models and decision trees to conduct cohort simulations, given their predominance in the published literature around cost-effectiveness modelling. Our comparison uses three qualitative criteria as proposed by Eddy et al.: "transparency and validation", "learning curve" and "capability". In addition, we introduce the quantitative criterion of processing speed. We also consider the cost of each program to academic users and commercial users. We rank the programs based on each of these criteria. We find that, whilst Microsoft Excel and TreeAge Pro are good programs for educational purposes and for producing the types of analyses typically required by health technology assessment agencies, the efficiency and transparency advantages of programming languages such as MATLAB and R become increasingly valuable when more complex analyses are required.

  13. Capital effectiveness in a capital intensive project

    Energy Technology Data Exchange (ETDEWEB)

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

    2009-07-01

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

  14. How to choose the right capitalization option.

    Science.gov (United States)

    Vaughan, J; Wise, J

    1996-12-01

    Physician group practices and networks must have ready access to capital to finance their working capital needs, capital equipment acquisitions, and real estate purchases, as well as to fund the acquisition of additional practices. At least three options for capitalization are available to group practices and networks: debt financing, equity financing, or a combination of the two. The best option for physician group practices and networks depends on the costs of capital and the impact the strategy will have on decision making and governance.

  15. Instrumental Capital

    Directory of Open Access Journals (Sweden)

    Gabriel Valerio

    2007-07-01

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

  16. partial capitalness

    Directory of Open Access Journals (Sweden)

    Elena Grigoryeva

    2017-06-01

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

  17. Liquid metal reactor/Pressurized water reactor plant comparison study

    International Nuclear Information System (INIS)

    Halverson, T.G.

    1986-01-01

    The selection between alternative electric power generating technologies is mainly based on their overall economics. Capital costs account for over 60% of the total busbar cost of nuclear plants. Estimates reported in the literature have shown capital cost ratios of LMRs to PWRs ranging from less than 1 to as high as 1.8. To reduce this range of uncertainty, the study selected a method for cataloging plant hardware and then performed comparisons using engineering judgment as to the anticipated and reasonable cost differences. The paper summarizes the resulting one-on-one comparisons of components, systems, and buildings and identifies the LMR-PWR similarities and differences which influence costs. The study leads to the conclusion that the capital cost of the most up-to-date large LMR design would be very close to that of the latest PWRs

  18. Tuberculosis active case finding in Cambodia: a pragmatic, cost-effectiveness comparison of three implementation models.

    Science.gov (United States)

    James, Richard; Khim, Keovathanak; Boudarene, Lydia; Yoong, Joanne; Phalla, Chea; Saint, Saly; Koeut, Pichenda; Mao, Tan Eang; Coker, Richard; Khan, Mishal Sameer

    2017-08-22

    Globally, almost 40% of tuberculosis (TB) patients remain undiagnosed, and those that are diagnosed often experience prolonged delays before initiating correct treatment, leading to ongoing transmission. While there is a push for active case finding (ACF) to improve early detection and treatment of TB, there is extremely limited evidence about the relative cost-effectiveness of different ACF implementation models. Cambodia presents a unique opportunity for addressing this gap in evidence as ACF has been implemented using different models, but no comparisons have been conducted. The objective of our study is to contribute to knowledge and methodology on comparing cost-effectiveness of alternative ACF implementation models from the health service perspective, using programmatic data, in order to inform national policy and practice. We retrospectively compared three distinct ACF implementation models - door to door symptom screening in urban slums, checking contacts of TB patients, and door to door symptom screening focusing on rural populations aged above 55 - in terms of the number of new bacteriologically-positive pulmonary TB cases diagnosed and the cost of implementation assuming activities are conducted by the national TB program of Cambodia. We calculated the cost per additional case detected using the alternative ACF models. Our analysis, which is the first of its kind for TB, revealed that the ACF model based on door to door screening in poor urban areas of Phnom Penh was the most cost-effective (249 USD per case detected, 737 cases diagnosed), followed by the model based on testing contacts of TB patients (308 USD per case detected, 807 cases diagnosed), and symptomatic screening of older rural populations (316 USD per case detected, 397 cases diagnosed). Our study provides new evidence on the relative effectiveness and economics of three implementation models for enhanced TB case finding, in line with calls for data from 'routine conditions' to be included

  19. Computational Comparison of Several Greedy Algorithms for the Minimum Cost Perfect Matching Problem on Large Graphs

    DEFF Research Database (Denmark)

    Wøhlk, Sanne; Laporte, Gilbert

    2017-01-01

    The aim of this paper is to computationally compare several algorithms for the Minimum Cost Perfect Matching Problem on an undirected complete graph. Our work is motivated by the need to solve large instances of the Capacitated Arc Routing Problem (CARP) arising in the optimization of garbage...... collection in Denmark. Common heuristics for the CARP involve the optimal matching of the odd-degree nodes of a graph. The algorithms used in the comparison include the CPLEX solution of an exact formulation, the LEDA matching algorithm, a recent implementation of the Blossom algorithm, as well as six...

  20. Decreasing returns to capital, the willingness to pay and the willingness to accept compensation, and the limits of cost-benefit analysis

    NARCIS (Netherlands)

    Vermeylen, K.

    2012-01-01

    This paper uses the Kaldor-Hicks compensation principle to compute the present discounted value (PDV) of a non-marginal future event. Three theoretical results stand out: First, decreasing returns to capital create a wedge between the PDV of future generations' willingness to pay (WTP) and the PDV

  1. Applicability of the cost-effectiveness approach for comparison of waste management options

    International Nuclear Information System (INIS)

    Vuori, S.; Peltonen, E.; Vieno, T.; Vira, J.

    1984-01-01

    There is an obvious need to consider the achievable level of safety of waste management in view of the costs involved. The feasibility of the cost-effectiveness approach for this purpose is discussed in the framework of practical case studies. The analysis indicates that such an approach has clear benefits, but it also reveals several issues and ambiguities in its application. The waste management alternatives considered include various concepts for the disposal of low- and intermediate-level reactor wastes as well as of the unreprocessed spent fuel. The employed impact indicators describe both the individual and collective risks. In addition, indicators simultaneously giving a perspective into other risks in the society and a means to make a rank ordering of the alternative options are proposed. The cost-effectiveness ratios for collective risks vary in the range of ten to hundreds of millions US $ per man.Sv. The examples considered also indicate that increased costs do not necessarily improve safety. Furthermore, the comparison of the safety of different options requires more sophisticated and realistic models than those employed in the present analyses, because an unbalanced degree of conservatism could result in misleading conclusions. (author)

  2. A cost comparison of more and less nutritious food choices in US supermarkets.

    Science.gov (United States)

    Katz, David L; Doughty, Kim; Njike, Valentine; Treu, Judith A; Reynolds, Jesse; Walker, Jennifer; Smith, Erica; Katz, Catherine

    2011-09-01

    The present study directly compared prices of more and less nutritious foods within given categories in US supermarkets. Foods selected from six supermarkets in Jackson County were categorized using the five criteria of the Nutrition Detectives™ (ND) programme and an item-to-item cost comparison was made using posted prices. The nutritional quality of foods was distinguished using the clues of the ND nutrition education programme for elementary-school children and validated using the Overall Nutritional Quality Index. Supermarkets in Jackson County, MO, USA. Not applicable. The average price of the item for more nutritious foods did not differ significantly from that of less nutritious foods overall ($US 2·89 (sd $US 0·74) v. $US 2·85 (sd $0·68), P = 0·76). More nutritious breads cost more than less nutritious breads ($US 3·36 (sd $ US 0·28) v. $US 2·56 (sd $US 0·80, P = 0·03), whereas more nutritious cereals ($US 2·46 (sd $US 0·69) v. $US 3·50 (sd $US 0·30), P cost less. Our findings indicate that it is possible to choose more nutritious foods within many common categories without spending more money and suggest that making small improvements in dietary choices does not invariably cost more.

  3. Defining the cost of care for lobectomy and segmentectomy: a comparison of open, video-assisted thoracoscopic, and robotic approaches.

    Science.gov (United States)

    Deen, Shaun A; Wilson, Jennifer L; Wilshire, Candice L; Vallières, Eric; Farivar, Alexander S; Aye, Ralph W; Ely, Robson E; Louie, Brian E

    2014-03-01

    Knowledge about the cost of open, video-assisted thoracoscopic (VATS), or robotic lung resection and drivers of cost is crucial as the cost of care comes under scrutiny. This study aims to define the cost of anatomic lung resection and evaluate potential cost-saving measures. A retrospective review of patients who had anatomic resection for early stage lung cancer, carcinoid, or metastatic foci between 2008 and 2012 was performed. Direct hospital cost data were collected from 10 categories. Capital depreciation was separated for the robotic and VATS cases. Key costs were varied in a sensitivity analysis. In all, 184 consecutive patients were included: 69 open, 57 robotic, and 58 VATS. Comorbidities and complication rates were similar. Operative time was statistically different among the three modalities, but length of stay was not. There was no statistically significant difference in overall cost between VATS and open cases (Δ = $1,207) or open and robotic cases (Δ = $1,975). Robotic cases cost $3,182 more than VATS (p depreciation. The main opportunities to reduce cost in open cases were the intensive care unit, respiratory therapy, and laboratories. Lowering operating time and supply costs were targets for VATS and robotic cases. VATS is the least expensive surgical approach. Robotic cases must be shorter in operative time or reduce supply costs, or both, to be competitive. Lessening operating time, eradicating unnecessary laboratory work, and minimizing intensive care unit stays will help decrease direct hospital costs. Copyright © 2014 The Society of Thoracic Surgeons. Published by Elsevier Inc. All rights reserved.

  4. R2/R0-WTR decommissioning cost. Comparison and benchmarking analysis

    International Nuclear Information System (INIS)

    Varley, Geoff; Rusch, Chris

    2001-10-01

    SKI charged NAC International with the task of determining whether or not the decommissioning cost estimates of R2/R0 (hereafter simply referred to as R2) and Aagesta research reactors are reasonable. The associated work was performed in two phases. The objective in Phase I was to make global comparisons of the R2 and Aagesta decommissioning estimates with the estimates/actual costs for the decommissioning of similar research reactors in other countries. This report presents the results of the Phase II investigations. Phase II focused on selected discrete work packages within the decommissioning program of the WTR reactor. To the extent possible a comparison of those tasks with estimates for the R2 reactor has been made, as a basis for providing an opinion on the reasonableness of the R2 estimate. The specific WTR packages include: reactor vessel and internals dismantling; biological shield dismantling; primary coolant piping dismantling; electrical equipment removal; waste packaging; transportation and disposal of radioactive concrete and reactor components; project management, licensing and engineering; and removal of ancillary facilities. The specific tasks were characterised and analysed in terms of fundamental parameters including: task definition; labour hours expended; labour cost; labour productivity; length of work week; working efficiency; working environment and impact on job execution; external costs (contract labour, materials and equipment); total cost; waste volumes; and waste packaging and transport costs. Based on such detailed raw data, normalised unit resources have been derived for selected parts of the decommissioning program, as a first step towards developing benchmarking data for D and D activities at research reactors. Several general conclusions emerged from the WTR decommissioning project. Site characterisation can confirm or negate major assumptions, quantify waste volumes, delineate obstacles to completing work, provide an understanding

  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. The economic costs of energy

    International Nuclear Information System (INIS)

    Brookes, L.G.

    1980-01-01

    At a recent symposium, the economic costs of nuclear power were examined in four lectures which considered; (1) The performance of different types, size and ages of nuclear power plants. (2) The comparison between coal and nuclear power costs based on the principle of net effective cash. (3) The capital requirements of a nuclear programme. (4) The comparative costs, now and in the future, of coal-fired and nuclear plants. It is concluded that uncertainties seem to get greater rather than smaller with time probably due to the high and fluctuating world inflation rates and the great uncertainty about world economic performance introduced by the politicising of world oil supplies. (UK)

  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. Comparison of the costs of superconducting accelerator dipoles using NbTi, Nb3Sn and NbTiTa

    International Nuclear Information System (INIS)

    Hassenzahl, W.

    1981-03-01

    The present study, which is based on the assumption that future, high-energy accelerators will use superconductors, is a comparison of the costs of 5 to 12 Tesla NbTi, Nb 3 S/sub n/, and NbTiTa accelerator magnets operating at 4.2 K or 1.8 K. The object of this evaluation is not to determine the actual cost of future accelerators, rather, its purpose is to provide some rationale for research on the next generation of superconducting accelerator magnets. Thus, though the actual costs of accelerator magnets may be different from those given here, the comparisons are valid

  9. Seizure-related hospital admissions, readmissions and costs: Comparisons with asthma and diabetes in South Australia.

    Science.gov (United States)

    Bellon, Michelle L; Barton, Christopher; McCaffrey, Nikki; Parker, Denise; Hutchinson, Claire

    2017-08-01

    Seizures are listed as an Ambulatory Care Sensitive Condition (ACSC), where, in some cases, hospitalisation may be avoided with appropriate preventative and early management in primary care. We examined the frequencies, trends and financial costs of first and subsequent seizure-related hospital admissions in the adult and paediatric populations, with comparisons to bronchitis/asthma and diabetes admissions in South Australia between 2012 and 2014. De-identified hospital separation data from five major public hospitals in metropolitan South Australia were analysed to determine the number of children and adults admitted for the following Australian Refined Diagnosis Related Groups: seizure related conditions; bronchitis/asthma; and diabetes. Additional data included length of hospital stay and type of admission. Demographic data were analysed to identify whether social determinants influence admission, and a macro costing approach was then applied to calculate the financial costs to the Health Care System. The rate of total seizure hospitalizations was 649 per 100,000; lower than bronchitis/asthma (751/100,000), yet higher than diabetes (500/100,000). The highest proportions of subsequent separations were recorded by children with seizures regardless of complexity (47% +CSCC; 17% -CSCC) compared with asthma (11% +CSCC; 14% -CSCC) or diabetes (14% +CSCC; 13% -CSCC), and by adults with seizures with catastrophic or severe complications/comorbidity (25%), compared with diabetes (22%) or asthma (14%). The mean cost per separation in both children and adults was highest for diabetes (AU$4438/$7656), followed by seizures (AU$2408/$5691) and asthma (AU$2084/$3295). Following the lead of well-developed and resourced health promotion initiatives in asthma and diabetes, appropriate primary care, community education and seizure management services (including seizure clinics) should be targeted in an effort to reduce seizure related hospitalisations which may be avoidable

  10. A state-of-the-art review of techno-economic models predicting the costs of CO2 pipeline transport

    NARCIS (Netherlands)

    Knoope, M.M.J.; Ramirez, C.A.; Faaij, A.P.C.

    This study aims to provide a systematic overview and comparison of capital and O&M costs models for CO2 pipelines and booster stations currently available in literature. Our findings indicate significantly large cost ranges for the results provided by the different cost models. Two main types of

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

    International Nuclear Information System (INIS)

    Laurila, J.; Suramo, I.; Brommels, M.; Servo, A.; Kotikangas, J.; Standertskjoeld-Nordenstam, C.G.

    2000-01-01

    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

  12. Model for predicting fabric filter and ESP costs

    International Nuclear Information System (INIS)

    Hoskins, W.; Terrill, J.K.

    1992-01-01

    United Engineers and Constructors (UE and C) has developed a personal computer (PC) based program (Model) for estimating capital and operating costs of fabric filters (FFs) and electrostatic precipitators (ESPs). The program contains proprietary sizing routines for both types of particulate control devices. For the FF, it determines the number of compartments, number of bags, physical dimensions and other important information. For the ESP, it determines specific collection area (SCA), number of cells, and number of TR sets. This paper reports that the program has the capability of handling a wide range of gas flows. It adjusts construction costs for the labor productivity factors in different locations. The capital costs are considered conceptual in nature with an absolute accuracy range of ±25%. The capital and operating costs are used along with economic factors to determine present worth costs. This allows site specific side-by-side comparisons of FFs and ESPs

  13. 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.

  14. Global warming response options in Brazil's forest sector: comparison of project-level costs and benefits

    International Nuclear Information System (INIS)

    Fearnside, P.M.

    1995-01-01

    A project-level assessment of monetary and carbon costs and benefits for five classes of global warming response options in the forest sector is attempted for typical Brazilian conditions. Options considered are: silvicultural plantations (for pulp, charcoal and sawlogs), sustainable timber management and reduction of deforestation. Comparison of pulpwood and sawlog plantations with the vegetation characteristic of deforested areas indicates of modest carbon benefit. Plantations for charcoal can produce a substantial carbon benefit through fossil fuel substitution, but much of this calculated benefit disappears if discount rates greater than zero are applied to carbon. Sustainable timber management, when compared with existing forest, represents a net carbon loss, accumulation of carbon in wood products being insufficient to compensate for biomass reduction over a 100 year time scale. Reduction of deforestation has great potential as a global warming response option, its per-hectare carbon benefits being approximately four times that of silvicultural plantation establishment for pulp and sawlogs over a 100 year period. The costs of reducing deforestation are difficult to assess, however, due to the importance of government policy changes such as removal of land speculation and land tenure establishment as motives for clearing. Although these changes would not cost money and would have tremendous carbon and other benefits, they have not yet occurred. (Author)

  15. Outcomes and cost comparisons after introducing a robotics program for endometrial cancer surgery.

    Science.gov (United States)

    Lau, Susie; Vaknin, Zvi; Ramana-Kumar, Agnihotram V; Halliday, Darron; Franco, Eduardo L; Gotlieb, Walter H

    2012-04-01

    To evaluate the effect of introducing a robotic program on cost and patient outcome. This was a prospective evaluation of clinical outcome and cost after introducing a robotics program for the treatment of endometrial cancer and a retrospective comparison to the entire historical cohort. Consecutive patients with endometrial cancer who underwent robotic surgery (n=143) were compared with all consecutive patients who underwent surgery (n=160) before robotics. The rate of minimally invasive surgery increased from 17% performed by laparoscopy to 98% performed by robotics in 2 years. The patient characteristics were comparable in both eras, except for a higher body mass index in the robotics era (median 29.8 compared with 27.6; Probotics had longer operating times (233 compared with 206 minutes), but fewer adverse events (13% compared with 42%; Probotics compared with the historical group (Can$7,644 compared with Can$10,368 [Canadian dollars]; Psurgery, the short-term recurrence rate appeared lower in the robotics group compared with the historic cohort (11 recurrences compared with 19 recurrences; Probotics for endometrial cancer surgery increased the proportion of patients benefitting from minimally invasive surgery, improved short-term outcomes, and resulted in lower hospital costs. II.

  16. 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.

  17. Trading Fees and Slow-Moving Capital

    OpenAIRE

    Buss, Adrian; Dumas, Bernard J

    2015-01-01

    In some situations, investment capital seems to move slowly towards profitable trades. We develop a model of a financial market in which capital moves slowly simply because there is a proportional cost to moving capital. We incorporate trading fees in an infinite-horizon dynamic general-equilibrium model in which investors optimally and endogenously decide when and how much to trade. We determine the steady-state equilibrium no-trade zone, study the dynamics of equilibrium trades and prices a...

  18. Gestão do Capital Humano: comparação na localização de software de gestão do capital humano entre os países Brasil, Argentina e MéxicoHuman Capital Management: comparison in the location of softwares of human capital management among the countries Brazil, Argentina and MexicoGestión del Capital Humano: una comparación entre Brasil, Argentina y México con respecto a la localización del software de gestión del capital humano

    Directory of Open Access Journals (Sweden)

    DIAS, Dilson

    2009-12-01

    percentual de utilização dos atuais software de recursos humanos, bem como a apresentação dos softwares mais indicados na pesquisa, complementam a análise dos resultados. Por fim, concluiu-se que é possível tornar realidade a gestão integrada de todas as informações organizacionais entre outros países, principalmente com a Argentina, o México e o Brasil.ABSTRACTThe area of staff administration has initiated inside of the organizations a process that today is the great focus of investments in the search of market competitiveness so tough in times of strong globalization, the human capital management. For some time, the organizations have already realized that the differential to be competitive is not in what is produced but in the people who make this process a reality. As the age of the knowledge is currently lived, software of human capital management came to improve the management of these human resources, enabling a more agile dissemination process. As much as the fast expansion of software, the companies have extended to several regions of the planet, which generates the demand of having appropriate software to the local conventions, whether localized it or not. Software localization is an area of recent studies, but has investments research centers by multinational. As general objective of this research, it was sought the comparison of the main pertinent information from the area of personnel management between Brazil, Argentina and Mexico, for the localization of human capital management, so to form and to inspire other researchers to explore this subject in other areas of Administration. The research used the comparative method. As for the objectives it can be classified as descriptive and exploratory; as for the procedures it can be classified as bibliographic and documentary; and as for the approaching of the problem, it can be classified as quantitative and qualitative. Structured questionnaires were applied in companies of Argentina and Mexico, and the

  19. Comparison of Australian and US Cost-Benefit Approaches to MEPS

    Energy Technology Data Exchange (ETDEWEB)

    McMahon, James E.

    2004-03-12

    The Australian Greenhouse Office contracted with the Collaborative Labeling and Appliance Standards Program (CLASP) for LBNL to compare US and Australian approaches to analyzing costs and benefits of minimum energy performance standards (MEPS). This report compares the approaches for three types of products: household refrigerators and freezers, small electric storage water heaters, and commercial/industrial air conditioners. This report presents the findings of similarities and differences between the approaches of the two countries and suggests changes to consider in the approach taken in Australia. The purpose of the Australian program is to reduce greenhouse gas emissions, while the US program is intended to increase energy efficiency; each program is thus subject to specific constraints. The market and policy contexts are different, with the USA producing most of its own products and conducting pioneering engineering-economic studies to identify maximum energy efficiency levels that are technologically feasible and economically justified. In contrast, Australia imports a large share of its products and adopts MEPS already in place elsewhere. With these differences in circumstances, Australia's analysis approach could be expected to have less analytical detail and still result in MEPS levels that are appropriate for their policy and market context. In practice, the analysis required to meet these different objectives is quite similar. To date, Australia's cost-benefit analysis has served the goals and philosophies of the program well and been highly effective in successfully identifying MEPS that are significantly reducing greenhouse gas emissions while providing economic benefits to consumers. In some cases, however, the experience of the USA--using more extensive data sets and more detailed analysis--suggests possible improvements to Australia's cost-benefit analysis. The principal findings of the comparison are: (1) The Technology and Market

  20. Triads of capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase

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

  1. Nonfuel OandM costs for laser and heavy-ion fusion power plants

    International Nuclear Information System (INIS)

    Pendergrass, J.H.

    1986-01-01

    Very simple nonfuel operating and maintenance (OandM) cost models have been used in many inertial confinement fusion (ICF) commercial applications studies. Often, ICF OandM costs have been accounted for by adding a small fraction of plant initial capital cost to other annual power production costs. Lack of definition of ICF technology and/or perceptions that OandM costs would be small relative to capital-related costs are some reasons for such simple treatments. This approach does not permit rational treatment of potentially significant differences in OandM costs for ICF plants with different driver, reactor, target, etc., technologies or rational comparisons with conventional technologies. Improved understanding of ICF makes more accurate estimates for some OandM costs appear feasible. More detailed OandM cost models, even if of modest accuracy in some areas, are useful for comparisons

  2. 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…

  3. COMPARISON BETWEEN RGB AND RGB-D CAMERAS FOR SUPPORTING LOW-COST GNSS URBAN NAVIGATION

    Directory of Open Access Journals (Sweden)

    L. Rossi

    2018-05-01

    Full Text Available A pure GNSS navigation is often unreliable in urban areas because of the presence of obstructions, thus preventing a correct reception of the satellite signal. The bridging between GNSS outages, as well as the vehicle attitude reconstruction, can be recovered by using complementary information, such as visual data acquired by RGB-D or RGB cameras. In this work, the possibility of integrating low-cost GNSS and visual data by means of an extended Kalman filter has been investigated. The focus is on the comparison between the use of RGB-D or RGB cameras. In particular, a Microsoft Kinect device (second generation and a mirrorless Canon EOS M RGB camera have been compared. The former is an interesting RGB-D camera because of its low-cost, easiness of use and raw data accessibility. The latter has been selected for the high-quality of the acquired images and for the possibility of mounting fixed focal length lenses with a lower weight and cost with respect to a reflex camera. The designed extended Kalman filter takes as input the GNSS-only trajectory and the relative orientation between subsequent pairs of images. Depending on the visual data acquisition system, the filter is different because RGB-D cameras acquire both RGB and depth data, allowing to solve the scale problem, which is instead typical of image-only solutions. The two systems and filtering approaches were assessed by ad-hoc experimental tests, showing that the use of a Kinect device for supporting a u-blox low-cost receiver led to a trajectory with a decimeter accuracy, that is 15 % better than the one obtained when using the Canon EOS M camera.

  4. Underground cables as an alternative to overhead lines. A comparison of economic and technical aspects of voltages over 22 kV

    Energy Technology Data Exchange (ETDEWEB)

    Trohjell, J.E.; Vognild, I.H.

    1994-07-11

    The report presents technical and economical aspects of underground cables compared to overhead lines in Norway in high voltage transmission systems above 22 kV. The economical comparison between the two options includes capital costs of installation (investment costs), maintenance costs and costs of electrical losses. The main technical issues discussed are reliability and flexibility. 35 refs., 23 figs., 29 tabs.

  5. Based on the Capital Cost of the Supply Chain Financing Framework Structure Theory%基于资本成本的供应链融资框架性结构理论研究

    Institute of Scientific and Technical Information of China (English)

    袁荃; 龙子泉

    2012-01-01

    融资成本是现代企业融资中必须面对的课题。先分析企业根据融资结构和资本结构进行优化产生的作用,并对资本成本进行了详尽阐述与剖析;然后在此基础上,设计了一个供应链金融方面的结构性框架,从而有效控制供应链融资过程中的风险与不稳定性,以获得多方共赢。%The cost of financing is something that must be examined in the modern corporate financing. This paper outlines the results of optimizing the financing structure and capital structure, analyzes the cost of capital for elaborate and profiling. Given the analysis result, a design of the structural framework for supply chain financing is proposed. It aims to effectively control the risks and instability in the process of supply chain financing and archive win - win situation.

  6. 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.

  7. A cost comparison of nuclear and fossil power for the Alberta tar sands

    International Nuclear Information System (INIS)

    Sochaski, R.O.; Smith, D.W.

    1977-04-01

    One technique envisaged for commercial development of the Alberta tar sands is in-situ removal of bitumen by injection of steam into the formation at high temperature and pressure. The 3000 MW of thermal power required for a typical 20 Gg/d plant could be supplied by a nuclear reactor. Accordingly, an economic comparison was made between a CANDU organic-cooled reactor and a conventional coal-fired station, using a variety of financial ground rules. This analysis shows that for debt-financed cases, nuclear power has essentially no economic competition from coal. For equity cases, the competitive position of a coal-fired station is heavily dependent on the cost of coal delivered to the tar sands area, discount rate, amortization period and inflation rate. (author)

  8. The costs of delay in infrastructure investments: A comparison of 2001 and 2014 household water supply coping costs in the Kathmandu Valley, Nepal

    Science.gov (United States)

    Gurung, Yogendra; Zhao, Jane; Kumar KC, Bal; Wu, Xun; Suwal, Bhim; Whittington, Dale

    2017-08-01

    In 2001, we conducted a survey of 1500 randomly sampled households in Kathmandu to determine the costs people were incurring to cope with Kathmandu's poor quality, unreliable piped water supply system. From 2001 until 2014, there was little additional public investment in the municipal water supply system. In the summer of 2014, we attempted to reinterview all 1500 households in our 2001 sample to determine how they had managed to deal with the growing water shortage and the deteriorating condition of the piped water infrastructure in Kathmandu and to compare their coping costs in 2014 with those we first estimated in 2001. Average household coping costs more than doubled in real terms over the period from 2001 to 2014, from US5 to US12 per month (measured in 2014 prices). The composition of household coping costs changed from 2001 to 2014, as households responded to the deteriorating condition of the piped water infrastructure by drilling more private wells, purchasing water from both tanker truck and bottled water vendors, and installing more storage tanks. These investments and expenditures resulted in a decline in the time households spend collecting water from outside the home. Our analysis suggests that the significant increase in coping costs between 2001 and 2014 may provide an opportunity for the municipal water utility to substantially increase water tariffs if the quantity and quality of piped services can be improved. However, the capital investments made by some households in private wells, pumping and treatment systems, and storage tanks in response to the delay in infrastructure investment may lock them into current patterns of water use, at least in the short run, and thus make it difficult to predict how they would respond to tariff increases for improved piped water services.

  9. Mandatory Adoption of IFRS: It´s Effect on Accounting Quality, Information Environment and Cost of Equity Capital – The Case of Swedish Banks

    OpenAIRE

    Gautam, Rekha

    2011-01-01

    IFRS standards are getting acceptance day by day rapidly in all over the world. It is because IFRSs are the global and common language, which are more transparent and comparable for the investors and users residing in different nations. IFRSs are mandatory for all companies listed in capital market within EU from the beginning of 2005. As a member state of EU, Swedish banks also adopted mandatory IFRS from 1 January 2005. However, the banks were already implementing IFRS to some extent as mos...

  10. Computerized cost model for pressurized water reactors

    International Nuclear Information System (INIS)

    Meneely, T.K.; Tabata, Hiroaki; Labourey, P.

    1999-01-01

    A computerized cost model has been developed in order to allow utility users to improve their familiarity with pressurized water reactor overnight capital costs and the various factors which influence them. This model organizes its cost data in the standard format of the Energy Economic Data Base (EEDB), and encapsulates simplified relationships between physical plant design information and capital cost information in a computer code. Model calculations are initiated from a base case, which was established using traditional cost calculation techniques. The user enters a set of plant design parameters, selected to allow consideration of plant models throughout the typical three- and four-loop PWR power range, and for plant sites in Japan, Europe, and the United States. Calculation of the new capital cost is then performed in a very brief time. The presentation of the program's output allows comparison of various cases with each other or with separately calculated baseline data. The user can start at a high level summary, and by selecting values of interest on a display grid show progressively more and more detailed information, including links to background information such as individual cost driver accounts and physical plant variables for each case. Graphical presentation of the comparison summaries is provided, and the numerical results may be exported to a spreadsheet for further processing. (author)

  11. 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

    2016-02-01

    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). 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. 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). 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.

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

    Directory of Open Access Journals (Sweden)

    Denis Redžepagić

    2011-12-01

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

  13. Cost comparison of dry-type and conventional cooling systems for representative nuclear generating plans

    International Nuclear Information System (INIS)

    Rossie, J.P.; Cecil, E.A.; Young, R.O.

    1974-01-01

    Results are presented of studies comparing the use of dry-type cooling towers with conventional cooling methods for representative pressurized-water-reactor nuclear power plants. The studies were based on the hypothetical use of dry-type cooling towers for three nuclear power plants now under construction which were designed and are being built to use conventional cooling methods. One of the plants is located in the northeastern United States, one in the Southeast and one in the West. The report also presents the results of comparisons based on a hypothetical plant at a typical eastern United States site. The three electric utilities which participated in these studies have furnished actual construction cost information for the conventional cooling systems being constructed, and the authors have made construction estimates for economically optimum dry cooling systems which might have been built in place of the conventional cooling systems being constructed. The report compares the physical and operating characteristics of dry-type and conventional cooling systems as well as the relative economics of the different cooling methods. The effect of dry cooling on the bus-bar cost of power has been computed for the three selected plants and for the typical eastern plant

  14. Exploiting the Medium Term Biomass Energy Potentials in Austria. A Comparison of Costs and Macroeconomic Impact

    International Nuclear Information System (INIS)

    Steininger, K.W.; Voraberger, H.

    2003-01-01

    The transition to an implicitly solar-based energy system can make use of various specific biomass energy systems. This paper provides economic and environmental indicators for evaluating alternative options. The paper proceeds in three empirical steps. First, an expert survey supplies the primary biomass potentials available for non-food use in Austria and their respective costs. Second, an inquiry into investment, operating and financing costs of 30 different biomass energy use systems allows a standardized comparison among them and their relationship to fossil reference technologies. Third, a computable general equilibrium model of the Austrian economy is employed to quantify the impacts of fostering the use of distinct biomass energy technologies. The results allow us to distinguish between those technologies that tend to lead to an increase in both GDP and employment (e.g., combined heat and power production from sewage sludge biogas), to an increase only in employment, while GDP tends to diminish (e.g., district heating based on agricultural pellets) or to a decline in both (e.g., co-firing based on wood-chips, bark or industrial pellets). Individual technologies could account for up to one third of Austria's Kyoto obligation, while combinations of technologies, triggered by a combined CO2 tax and biomass energy subsidy for example, could almost fully lead to Austrian Kyoto-compliance

  15. Costs of stroke and stroke services: Determinants of patient costs and a comparison of costs of regular care and care organised in stroke services

    Directory of Open Access Journals (Sweden)

    Koopmanschap Marc A

    2003-02-01

    Full Text Available Abstract Background Stroke is a major cause of death and long-term disability in Western societies and constitutes a major claim on health care budgets. Organising stroke care in a stroke service has recently been demonstrated to result in better health effects for patients. This paper discusses patient costs after stroke and compares costs between regular and stroke service care. Methods Costs were calculated within the framework of the evaluation of three experiments with stroke services in the Netherlands. Cost calculations are base on medical consumption data and actual costs. Results 598 patients were consecutively admitted to hospital after stroke. The average total costs of care per patient for the 6 month follow-up are estimated at €16,000. Costs are dominated by institutional and accommodation costs. Patients who die after stroke incur less costs. For patients that survive the acute phase, the most important determinants of costs are disability status and having a partner – as they influence patients' stroke careers. These determinants also interact. The most efficient stroke service experiment was most successful in co-ordinating patient flow from hospital to (nursing home, through capacity planning and efficient discharge procedures. In this region the costs of stroke service care are the same as for regular stroke care. The other experiments suffered from waiting lists for nursing homes and home care, leading to "blocked beds" in hospitals and nursing homes and higher costs of care. Costs of co-ordination are estimated at about 3% of total costs of care. Conclusion This paper demonstrates that by organising care for stroke patients in a stroke service, better health effects can be achieved with the same budget. In addition, it provides insight in need, predisposing and enabling factors that determine costs of care after stroke.

  16. 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...

  17. 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...

  18. Fleet servicing facilities for servicing, maintaining, and testing rail and truck radioactive waste transport systems: functional requirements, technical design concepts and options cost estimates and comparisons

    International Nuclear Information System (INIS)

    Watson, C.D.; Hudson, B.J.; Keith, D.A.; Preston, M.K. Jr.; McCreery, P.N.; Knox, W.; Easterling, E.M.; Lamprey, A.S.; Wiedemann, G.

    1980-05-01

    This is a resource document which examines feasibility design concepts and feasibility studies of a Fleet Servicing Facility (FSF). Such a facility is intended to be used for routine servicing, preventive maintenance, and for performing requalification license compliance tests and inspections, minor repairs, and decontamination of both the transportation casks and their associated rail cars or tractor-trailers. None of the United States' waste handling plants presently receiving radioactive wastes have an on-site FSF, nor is there an existing third party facility providing these services. This situation has caused the General Accounting Office to express concern regarding the quality of waste transport system maintenance once the system is placed into service. Thus, a need is indicated for FSF's, or their equivalent, at various radioactive materials receiving sites. In this report, three forms of FSF's solely for spent fuel transport systems were examined: independent, integrated, and colocated. The independent concept was already the subject of a detailed report and is extensively referenced in this document so that capital cost comparisons of the three concepts could be made. These facilities probably could service high-level, intermediate-level, low-level, or other waste transportation systems with minor modification, but this study did not include any system other than spent fuel. Both the Integrated and Colocated concepts were assumed to be associated with some radioactive materials handling facility such as an AFR repository

  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. Capital renewal as a real option

    NARCIS (Netherlands)

    Reindorp, M.J.; Fu, M.C.

    2011-01-01

    We consider the timing of replacement of obsolete subsystems within an extensive, complex infrastructure. Such replacement action, known as capital renewal, must balance uncertainty about future profitability against uncertainty about future renewal costs. Treating renewal investments as real

  1. Capital optimization: linking investment with strategic intent.

    Science.gov (United States)

    Fine, Allan; Bacchetti, J Alex

    2004-01-01

    With operating margins showing some improvement in 2003, Y2K being a distant memory, and many critical capital investment decisions delayed as long as possible, hospitals have been on a relative spending spree, building new facilities, renovating operating rooms and inpatient units, and investing in new medical and information technologies. However, with pressure on both cost and revenue expected to continue, if not increase, this spending spree may be short-lived, and hospitals must improve their capital planning efforts; align them with their mission, vision, and strategies; and ensure that capital is available when unplanned or even expected needs arise. This article explores some of the challenges that hospitals face in their capital planning efforts and, more importantly, suggests the necessity for hospitals to integrate capital and strategic planning. Capital planning must be driven by an organization's strategies; however, we also argue that an organization's ability to execute its strategies is highly dependent on the existence of a cohesive capital prioritization and planning process. In this article, we explore a number of issues critical to developing a comprehensive capital plan, including estimating capital costs, evaluating and designing strategies to contend with risk, saving for the proverbial "rainy day," and recognizing the role and value of philanthropy, while challenging some conventional thinking of hospital executives with respect to investment, growth, and planning.

  2. 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.

  3. 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…

  4. 38 CFR 61.16 - Matching funds for capital grants.

    Science.gov (United States)

    2010-07-01

    ... capital grants. 61.16 Section 61.16 Pensions, Bonuses, and Veterans' Relief DEPARTMENT OF VETERANS AFFAIRS (CONTINUED) VA HOMELESS PROVIDERS GRANT AND PER DIEM PROGRAM § 61.16 Matching funds for capital grants. The amount of a capital grant may not exceed 65 percent of the total cost of the project for which the...

  5. Improving the thermal integrity of new single-family detached residential buildings: Documentation for a regional database of capital costs and space conditioning load savings

    International Nuclear Information System (INIS)

    Koomey, J.G.; McMahon, J.E.; Wodley, C.

    1991-07-01

    This report summarizes the costs and space-conditioning load savings from improving new single-family building shells. It relies on survey data from the National Association of Home-builders (NAHB) to assess current insulation practices for these new buildings, and NAHB cost data (aggregated to the Federal region level) to estimate the costs of improving new single-family buildings beyond current practice. Space-conditioning load savings are estimated using a database of loads for prototype buildings developed at Lawrence Berkeley Laboratory, adjusted to reflect population-weighted average weather in each of the ten federal regions and for the nation as a whole

  6. Risk management study for the Hanford Site facilities: Risk reduction cost comparison for the retired Hanford Site facilities

    International Nuclear Information System (INIS)

    Coles, G.A.; Egge, R.G.; Senger, E.; Shultz, M.W.; Taylor, W.E.

    1994-02-01

    This document provides a cost-comparison evaluation for implementing certain risk-reduction measures and their effect on the overall risk of the 100 and 200 Area retired, surplus facilities. The evaluation is based on conditions that existed at the time the risk evaluation team performed facility investigations, and does not acknowledge risk-reduction measures that occurred soon after risk identification. This evaluation is one part of an overall risk management study for these facilities. The retired facilities investigated for this evaluation are located in the 100 and 200 Areas of the 1450-km 2 Hanford Site. The Hanford Site is a semiarid tract of land in southeastern Washington State. The nearest population center is Richland, Washington, (population 32,000) 30 km southeast of the 200 Area. This cost-comparison evaluation (1) determines relative costs for reducing risk to acceptable levels; (2) compares the cost of reducing risk using different risk-reduction options; and (3) compares the cost of reducing risks at different facilities. The result is an identification of the cost effective risk-reduction measures. Supporting information required to develop costs of the various risk-reduction options also is included

  7. Risk management study for the Hanford Site facilities: Risk reduction cost comparison for the retired Hanford Site facilities. Volume 4

    Energy Technology Data Exchange (ETDEWEB)

    Coles, G.A.; Egge, R.G.; Senger, E.; Shultz, M.W.; Taylor, W.E.

    1994-02-01

    This document provides a cost-comparison evaluation for implementing certain risk-reduction measures and their effect on the overall risk of the 100 and 200 Area retired, surplus facilities. The evaluation is based on conditions that existed at the time the risk evaluation team performed facility investigations, and does not acknowledge risk-reduction measures that occurred soon after risk identification. This evaluation is one part of an overall risk management study for these facilities. The retired facilities investigated for this evaluation are located in the 100 and 200 Areas of the 1450-km{sup 2} Hanford Site. The Hanford Site is a semiarid tract of land in southeastern Washington State. The nearest population center is Richland, Washington, (population 32,000) 30 km southeast of the 200 Area. This cost-comparison evaluation (1) determines relative costs for reducing risk to acceptable levels; (2) compares the cost of reducing risk using different risk-reduction options; and (3) compares the cost of reducing risks at different facilities. The result is an identification of the cost effective risk-reduction measures. Supporting information required to develop costs of the various risk-reduction options also is included.

  8. 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…

  9. 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.

  10. Limits to productive capital investments

    International Nuclear Information System (INIS)

    Seifritz, W.

    1984-07-01

    The rise in the specific capital costs of nuclear power plants has caused concern in all industrialized countries in the past few years. Although the amount of this rise differed and at least did not jeopardize the cost edge of nuclear power in Europe, it did result in cost advantages of coal over nuclear power in a number of Federal States in the USA. The cost development in nuclear power plant construction up to the present level of capital costs was due chiefly to intolerable extensions of construction periods as a consequence of dragging licensing procedures, most of them entailing additional conditions which were partly a matter of dispute. There is broad agreement on the need to not detract from the nuclear safety level now attained, but also on the inability to increase it further by any significant margin. It has become evident in the past that, from a certain level onward, additional measures may in fact reduce the level of safety. In this contribution an attempt is made to delineate the framework of reasonable capital expenditure. From this point of departure, realistic considerations of safety and environmental protection can be made for future orientation. (orig.)

  11. Investment in capital markets

    OpenAIRE

    Ledenyov, Dimitri O.; Ledenyov, Viktor O.

    2017-01-01

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

  12. Capital financing in prospective payment.

    Science.gov (United States)

    Oszustowicz, R J; Dreachslin, J L

    1984-03-01

    In the era of prospective payment, arranging financing for hospital capital projects is expected to become even more complicated than under cost-based reimbursement systems. This article outlines the information needed for a bond issue in the prospective payment environment, defines the roles and duties of several external persons and organizations involved with planning a major capital financing, and provides an overview of the entire process. This article assumes for illustrative purposes that a tax-exempt bond issue is going to be used to finance a facility expansion. This method was chosen since over 70% of all major capital financing for hospitals use the tax-exempt bond as the principal vehicle for attracting the necessary debt to finance a major construction project. The tax-exempt bond issue also requires the most detail in documentation and legal provisions.

  13. Parallel search engine optimisation and pay-per-click campaigns: A comparison of cost per acquisition

    Directory of Open Access Journals (Sweden)

    Wouter T. Kritzinger

    2017-07-01

    Full Text Available Background: It is imperative that commercial websites should rank highly in search engine result pages because these provide the main entry point to paying customers. There are two main methods to achieve high rankings: search engine optimisation (SEO and pay-per-click (PPC systems. Both require a financial investment – SEO mainly at the beginning, and PPC spread over time in regular amounts. If marketing budgets are applied in the wrong area, this could lead to losses and possibly financial ruin. Objectives: The objective of this research was to investigate, using three real-world case studies, the actual expenditure on and income from both SEO and PPC systems. These figures were then compared, and specifically, the cost per acquisition (CPA was used to decide which system yielded the best results. Methodology: Three diverse websites were chosen, and analytics data for all three were compared over a 3-month period. Calculations were performed to reduce the figures to single ratios, to make comparisons between them possible. Results: Some of the resultant ratios varied widely between websites. However, the CPA was shown to be on average 52.1 times lower for SEO than for PPC systems. Conclusion: It was concluded that SEO should be the marketing system of preference for e-commerce-based websites. However, there are cases where PPC would yield better results – when instant traffic is required, and when a large initial expenditure is not possible.

  14. Comparison of low cost measurement techniques for long-term monitoring of atmospheric ammonia.

    Science.gov (United States)

    Sutton, M A; Miners, B; Tang, Y S; Milford, C; Wyers, G P; Duyzer, J H; Fowler, D

    2001-10-01

    An inter-comparison of techniques for long-term sampling of atmospheric ammonia (NH3) was conducted with a view to establishing a national network with > 50 sites. Key requirements were for: a low cost system, simplicity and durability to enable a postal exchange with local site operators, a precision of sampling at expected NH3 concentrations of 1-2 micrograms m-3, a detection limit sufficient to resolve the small NH3 concentrations (sampling methods were compared: A, a commercially available membrane diffusion tube (exposed in triplicate), with membranes removed immediately after sampling; B, the above method, with the membranes left in place until analysis; C, open-ended diffusion tubes (exposed with 4 replicates); D, a new active sampling diffusion denuder system; and E, an active sampling bubbler system. Method D consisted of two 0.1 m acid coated glass denuders in series with sampling at approximately 0.3 l min-1. These methods were deployed at 6 locations in the UK and the Netherlands and compared against reference estimates. Method D was the most precise and sensitive of the techniques compared, with a detection limit of 3 micrograms m-3), but were less precise and overestimated NH3 at smaller concentrations. Of the passive methods, A was the most precise and C the least precise. On the basis of the results, method D has been implemented in the national network, together with application of method A to explore spatial variability in regions with expected high NH3 concentrations.

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

    Science.gov (United States)

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

    2017-03-22

    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. 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. 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. 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 participants were more geographically diverse (but

  16. International comparison of economic and technical indexes of nuclear power plant construction

    International Nuclear Information System (INIS)

    Majer, P.; Fialova, H.

    1988-01-01

    The comparison of capital costs of the construction of nuclear power plants takes into consideration the following aspects: the delineation of the installation, the determination of costs and their break-down, the impact of the time factor, the conversion of the costs to a comparable unit. Power plants are always compared with roughly the same power capacity, this even when conditions for construction are not fully comparable. Construction costs may be divided into, e.g., pre-construction costs, direct capital costs, indirect capital costs, interest during construction. The time factor is manifest in the duration of construction and in the concrete year of construction for which the comparison is being made. The inflationary rise in prices and interests are increasing capital costs by roughly 5 - 8% per annum. The comparison of costs expressed in different currencies is made either by conversion using the rate of exchange or by comparing the time expended for the construction of the power plant. Various methods of comparison are discussed. (J.B.). 7 refs

  17. Comparison of methods for estimating the cost of human immunodeficiency virus-testing interventions.

    Science.gov (United States)

    Shrestha, Ram K; Sansom, Stephanie L; Farnham, Paul G

    2012-01-01

    The Centers for Disease Control and Prevention (CDC), Division of HIV/AIDS Prevention, spends approximately 50% of its $325 million annual human immunodeficiency virus (HIV) prevention funds for HIV-testing services. An accurate estimate of the costs of HIV testing in various settings is essential for efficient allocation of HIV prevention resources. To assess the costs of HIV-testing interventions using different costing methods. We used the microcosting-direct measurement method to assess the costs of HIV-testing interventions in nonclinical settings, and we compared these results with those from 3 other costing methods: microcosting-staff allocation, where the labor cost was derived from the proportion of each staff person's time allocated to HIV testing interventions; gross costing, where the New York State Medicaid payment for HIV testing was used to estimate program costs, and program budget, where the program cost was assumed to be the total funding provided by Centers for Disease Control and Prevention. Total program cost, cost per person tested, and cost per person notified of new HIV diagnosis. The median costs per person notified of a new HIV diagnosis were $12 475, $15 018, $2697, and $20 144 based on microcosting-direct measurement, microcosting-staff allocation, gross costing, and program budget methods, respectively. Compared with the microcosting-direct measurement method, the cost was 78% lower with gross costing, and 20% and 61% higher using the microcosting-staff allocation and program budget methods, respectively. Our analysis showed that HIV-testing program cost estimates vary widely by costing methods. However, the choice of a particular costing method may depend on the research question being addressed. Although program budget and gross-costing methods may be attractive because of their simplicity, only the microcosting-direct measurement method can identify important determinants of the program costs and provide guidance to improve

  18. A Cost Comparison Between Active and Naval Reserve Force FFG 7 Class Ships

    Science.gov (United States)

    1993-06-01

    so in our hypothetical depreciation schedule 1/30th of the depreciable cost would be expensed each year. Under GAAP , the historical cost of the asset...and Support Costs (VAMOSC) data base provided by the* aval Center For Cost Analysis. The thesis also sets up theoretical depreciation schedules for...VAMOSC) data base provided by the Naval Center for Cost Analysis. The thesis also sets up theoretical depreciation schedules for selected ships to

  19. Nuclear power production: The financial costs. Background paper

    International Nuclear Information System (INIS)

    Berg, P.

    1993-11-01

    For many years, the Canadian nuclear industry has priced itself on its ability to provide safe, reliable and low-cost electricity to consumers. While nuclear power has indeed proved to be a relatively safe generator of electricity, its performance with respect to reliability and cost has declined noticeably in recent years. This paper documents the deteriorating cost performance of the industry, in comparison with that of its traditional competitor in power generation. It also breaks down the total costs into its component parts, assessing the key factors underlying the trends that are worsening the competitive position of the industry: a rise in initial capital costs, unanticipated technical difficulties resulting in additional capital costs, and the increasing operating expenses associated with poorer-than-expected reactor performance. (author). 8 refs., 2 tabs., 1 fig

  20. Cost-benefit comparisons of investments in improved water supply and cholera vaccination programs.

    Science.gov (United States)

    Jeuland, Marc; Whittington, Dale

    2009-05-18

    This paper presents the first cost-benefit comparison of improved water supply investments and cholera vaccination programs. Specifically, we compare two water supply interventions -- deep wells with public hand pumps and biosand filters (an in-house, point-of-use water treatment technology) -- with two types of cholera immunization programs with new-generation vaccines -- general community-based and targeted and school-based programs. In addition to these four stand-alone investments, we also analyze five combinations of water and vaccine interventions: (1) borehole+hand pump and community-based cholera vaccination, (2) borehole+hand pump and school-based cholera vaccination, (3) biosand filter and community-based cholera vaccination, (4) biosand filter and school-based cholera vaccination, and (5) biosand filter and borehole+hand pump. Using recent data applicable to developing country locations for parameters such as disease incidence, the effectiveness of vaccine and water supply interventions against diarrheal diseases, and the value of a statistical life, we construct cost-benefit models for evaluating these interventions. We then employ probabilistic sensitivity analysis to estimate a frequency distribution of benefit-cost ratios for all four interventions, given a wide variety of possible parameter combinations. Our results demonstrate that there are many plausible conditions in developing countries under which these interventions will be attractive, but that the two improved water supply interventions and the targeted cholera vaccination program are much more likely to yield attractive cost-benefit outcomes than a community-based vaccination program. We show that implementing community-based cholera vaccination programs after borehole+hand pump or biosand filters have already been installed will rarely be justified. This is especially true when the biosand filters are already in place, because these achieve substantial cholera risk reductions on their own

  1. Cost-effective way to reduce stimulant-abuse among gay/bisexual men and transgender women: a randomized clinical trial with a cost comparison.

    Science.gov (United States)

    Zhang, S X; Shoptaw, S; Reback, C J; Yadav, K; Nyamathi, A M

    2018-01-01

    A randomized controlled study was conducted with 422 homeless, stimulant-using gay/bisexual (G/B) men and 29 transgender women (n = 451) to assess two community-based interventions to reduce substance abuse and improve health: (a) a nurse case-managed program combined with contingency management (NCM + CM) versus (b) standard education plus contingency management (SE + CM). Hypotheses tested included: a) completion of hepatitis A/B vaccination series; b) reduction in stimulant use; and c) reduction in number of sexual partners. A deconstructive cost analysis approach was utilized to capture direct costs associated with the delivery of both interventions. Based on an analysis of activity logs and staff interviews, specific activities and the time required to complete each were analyzed as follows: a) NCM + CM only; b) SE + CM only; c) time to administer/record vaccines; and d) time to receive and record CM visits. Cost comparison of the interventions included only staffing costs and direct cash expenditures. The study outcomes showed significant over time reductions in all measures of drug use and multiple sex partners, compared to baseline, although no significant between-group differences were detected. Cost analysis favored the simpler SE + CM intervention over the more labor-intensive NCM + CM approach. Because of the high levels of staffing required for the NCM relative to SE, costs associated with it were significantly higher. Findings suggest that while both intervention strategies were equally effective in achieving desired health outcomes, the brief SE + CM appeared less expensive to deliver. Copyright © 2017 The Royal Society for Public Health. Published by Elsevier Ltd. All rights reserved.

  2. 3D RECONSTRUCTION OF AN UNDERWATER ARCHAELOGICAL SITE: COMPARISON BETWEEN LOW COST CAMERAS

    Directory of Open Access Journals (Sweden)

    A. Capra

    2015-04-01

    Full Text Available The 3D reconstruction with a metric content of a submerged area, where objects and structures of archaeological interest are found, could play an important role in the research and study activities and even in the digitization of the cultural heritage. The reconstruction of 3D object, of interest for archaeologists, constitutes a starting point in the classification and description of object in digital format and for successive fruition by user after delivering through several media. The starting point is a metric evaluation of the site obtained with photogrammetric surveying and appropriate 3D restitution. The authors have been applying the underwater photogrammetric technique since several years using underwater digital cameras and, in this paper, digital low cost cameras (off-the-shelf. Results of tests made on submerged objects with three cameras are presented: © Canon Power Shot G12, © Intova Sport HD e © GoPro HERO 2. The experimentation had the goal to evaluate the precision in self-calibration procedures, essential for multimedia underwater photogrammetry, and to analyze the quality of 3D restitution. Precisions obtained in the calibration and orientation procedures was assessed by using three cameras, and an homogeneous set control points. Data were processed with © Agisoft Photoscan. Successively, 3D models were created and the comparison of the models derived from the use of different cameras was performed. Different potentialities of the used cameras are reported in the discussion section. The 3D restitution of objects and structures was integrated with sea bottom floor morphology in order to achieve a comprehensive description of the site. A possible methodology of survey and representation of submerged objects is therefore illustrated, considering an automatic and a semi-automatic approach.

  3. D Reconstruction of AN Underwater Archaelogical Site: Comparison Between Low Cost Cameras

    Science.gov (United States)

    Capra, A.; Dubbini, M.; Bertacchini, E.; Castagnetti, C.; Mancini, F.

    2015-04-01

    The 3D reconstruction with a metric content of a submerged area, where objects and structures of archaeological interest are found, could play an important role in the research and study activities and even in the digitization of the cultural heritage. The reconstruction of 3D object, of interest for archaeologists, constitutes a starting point in the classification and description of object in digital format and for successive fruition by user after delivering through several media. The starting point is a metric evaluation of the site obtained with photogrammetric surveying and appropriate 3D restitution. The authors have been applying the underwater photogrammetric technique since several years using underwater digital cameras and, in this paper, digital low cost cameras (off-the-shelf). Results of tests made on submerged objects with three cameras are presented: Canon Power Shot G12, Intova Sport HD e GoPro HERO 2. The experimentation had the goal to evaluate the precision in self-calibration procedures, essential for multimedia underwater photogrammetry, and to analyze the quality of 3D restitution. Precisions obtained in the calibration and orientation procedures was assessed by using three cameras, and an homogeneous set control points. Data were processed with Agisoft Photoscan. Successively, 3D models were created and the comparison of the models derived from the use of different cameras was performed. Different potentialities of the used cameras are reported in the discussion section. The 3D restitution of objects and structures was integrated with sea bottom floor morphology in order to achieve a comprehensive description of the site. A possible methodology of survey and representation of submerged objects is therefore illustrated, considering an automatic and a semi-automatic approach.

  4. 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.

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

    International Nuclear Information System (INIS)

    Geuther, J.; Conrad, E.A.; Rhoadarmer, D.

    2009-01-01

    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

  6. Technology, safety and costs of decommissioning a reference boiling water reactor power station: Comparison of two decommissioning cost estimates developed for the same commercial nuclear reactor power station

    International Nuclear Information System (INIS)

    Konzek, G.J.; Smith, R.I.

    1990-12-01

    This study presents the results of a comparison of a previous decommissioning cost study by Pacific Northwest Laboratory (PNL) and a recent decommissioning cost study of TLG Engineering, Inc., for the same commercial nuclear power reactor station. The purpose of this comparative analysis on the same plant is to determine the reasons why subsequent estimates for similar plants by others were significantly higher in cost and external occupational radiation exposure (ORE) than the PNL study. The primary purpose of the original study by PNL (NUREG/CR-0672) was to provide information on the available technology, the safety considerations, and the probable costs and ORE for the decommissioning of a large boiling water reactor (BWR) power station at the end of its operating life. This information was intended for use as background data and bases in the modification of existing regulations and in the development of new regulations pertaining to decommissioning activities. It was also intended for use by utilities in planning for the decommissioning of their nuclear power stations. The TLG study, initiated in 1987 and completed in 1989, was for the same plant, Washington Public Supply System's Unit 2 (WNP-2), that PNL used as its reference plant in its 1980 decommissioning study. Areas of agreement and disagreement are identified, and reasons for the areas of disagreement are discussed. 31 refs., 3 figs., 22 tabs

  7. Total life cycle cost model for electric power stations

    International Nuclear Information System (INIS)

    Cardullo, M.W.

    1995-01-01

    The Total Life Cycle Cost (TLCC) model for electric power stations was developed to provide a technology screening model. The TLCC analysis involves normalizing cost estimates with respect to performance standards and financial assumptions and preparing a profile of all costs over the service life of the power station. These costs when levelized present a value in terms of a utility electricity rate. Comparison of cost and the pricing of the electricity for a utility shows if a valid project exists. Cost components include both internal and external costs. Internal costs are direct costs associated with the purchase, and operation of the power station and include initial capital costs, operating and maintenance costs. External costs result from societal and/or environmental impacts that are external to the marketplace and can include air quality impacts due to emissions, infrastructure costs, and other impacts. The cost stream is summed (current dollars) or discounted (constant dollars) to some base year to yield a overall TLCC of each power station technology on a common basis. While minimizing life cycle cost is an important consideration, it may not always be a preferred method for some utilities who may prefer minimizing capital costs. Such consideration does not always result in technology penetration in a marketplace such as the utility sector. Under various regulatory climates, the utility is likely to heavily weigh initial capital costs while giving limited consideration to other costs such as societal costs. Policy makers considering external costs, such as those resulting from environmental impacts, may reach significantly different conclusions about which technologies are most advantageous to society. The TLCC analysis model for power stations was developed to facilitate consideration of all perspectives

  8. Robotic longitudinal pancreaticojejunostomy for chronic pancreatitis: Comparison of clinical outcomes and cost to the open approach.

    Science.gov (United States)

    Kirks, Russell C; Lorimer, Patrick D; Fruscione, Michael; Cochran, Allyson; Baker, Erin H; Iannitti, David A; Vrochides, Dionisios; Martinie, John B

    2017-09-01

    This study compares clinical and cost outcomes of robot-assisted laparoscopic (RAL) and open longitudinal pancreaticojejunostomy (LPJ) for chronic pancreatitis. Clinical and cost data were retrospectively compared between open and RAL LPJ performed at a single center from 2008-2015. Twenty-six patients underwent LPJ: 19 open and 7 RAL. Two robot-assisted cases converted to open were included in the open group for analysis. Patients undergoing RAL LPJ had less intraoperative blood loss, a shorter surgical length of stay, and lower medication costs. Operation supply cost was higher in the RAL group. No difference in hospitalization cost was found. Versus the open approach, RAL LPJ performed for chronic pancreatitis shortens hospitalization and reduces medication costs; hospitalization costs are equivalent. A higher operative cost for RAL LPJ is mitigated by a shorter hospitalization. Decreased morbidity and healthcare resource economy support use of the robotic approach for LPJ when appropriate. Copyright © 2017 John Wiley & Sons, Ltd.

  9. Cost-Benefit Comparison: A Method for Evaluation Proposed Changes to Defense Acquisition Procedures

    Science.gov (United States)

    1990-09-01

    Department of Civil Engineering, Florida University, Gainsville FL, Summer 1986 (AD-A170752). Horngren , Charles T. and George Foster. Cost Accounting : A...Acquisition Regulation (FAR) system, The Department of Labor (DOL) , the Cost Accounting Standards Board (CASB) , and the General Services...decision. In management and in managerial accounting , this type of study is known as cost - benefit analysis. A cost -benefit analysis is the most important

  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. Hardwood? Carpet? or Tile? A comparison of flooring costs under residential conditions

    Science.gov (United States)

    David G. Martens; David G. Martens

    1971-01-01

    Initial installation cost, annual maintenance cost, and total long-term cost are important in the purchase of flooring products. Before deciding on a flooring material, the prudent buyer will consider each of these in relation to his personal desires. From these evaluations, he will then be able to select the flooring material that is best suited to his individual...

  12. Cost comparison of open and robotic partial nephrectomy using a short postoperative pathway.

    Science.gov (United States)

    Mano, Roy; Schulman, Ariel; Hakimi, A Ari; Sternberg, Itay A; Bernstein, Melanie; Bochner, Bernard H; Coleman, Jonathan A; Russo, Paul

    2015-03-01

    To compare immediate perioperative direct costs of open partial nephrectomy (OPN) and robotic partial nephrectomy (RPN), managed under a common care pathway. Retrospective review of detailed institutional cost data for patients treated with OPN and RPN during 2011 was conducted. Cost and clinical data of OPN and RPN were compared for all patients and for patients stratified by length of stay (LOS), American Society of Anesthesiologists (ASA), and RENAL nephrometry scores. The study cohort included 190 OPN and 63 RPN cases. OPN was associated with higher ASA scores (P days (2-3 days) for OPN compared with 1 day (1-2 days) for RPN (P cost of OPN was lower than that of RPN with a difference of $3091 (P costs were higher in OPN, surgical costs were higher in RPN ($854 and $3695 difference in median costs, respectively; P cost of OPN for patients with an above-average LOS remained lower than that of RPN ($2680 difference in median costs; P = .001). RPN costs remained significantly higher when stratifying patients by their ASA and RENAL nephrometry scores. Despite the shorter hospital LOS associated with RPN, the immediate perioperative cost of OPN was lower than that of RPN for patients managed under a common care pathway, mainly due to high robotic purchase and maintenance costs. In light of the current health care debate, such financial disincentives may compromise the sustainability of advances in medical technology. Copyright © 2015 Elsevier Inc. All rights reserved.

  13. Trimethoprim-sulfamethoxazole in children with chronic otitis media: a randomized comparison of costs and effects.

    NARCIS (Netherlands)

    Boonacker, C.W.; Veen, E.L. van der; Wilt, G.J. van der; Schilder, A.G.M.; Rovers, M.M.

    2008-01-01

    OBJECTIVE: To study the cost-effectiveness of a 6- to 12-week course of high-dose oral trimethoprim-sulfamethoxazole in children with chronic active otitis media (COM). STUDY DESIGN: Cost-effectiveness study including both direct and indirect costs alongside a randomized placebo-controlled trial.

  14. State Capitalism in Eurasia

    NARCIS (Netherlands)

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

    2017-01-01

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

  15. Supportability and purchasing decisions for capital assets: positioning paper

    NARCIS (Netherlands)

    Parada Puig, J.E.; Hoekstra, Sipke; Huisman, B.H.; van Dongen, Leonardus Adriana Maria

    2011-01-01

    Acquisition decisions for capital assets have a titanic impact on the operational costs of capital-intensive organizations. After the acquisition process, the cost of ownership is tied to the design characteristics of the assets, which dictate how they are operated and maintained. This reflects the

  16. 12 CFR 615.5171 - Transfer of capital from banks to associations.

    Science.gov (United States)

    2010-01-01

    ... all of the shareholders; (2) The bank will be able to achieve its capital adequacy and business plan goals after making the transfer of capital; and (3) The transfer of capital is the “least cost... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Transfer of capital from banks to associations...

  17. Energy and capital: substitutes or complements. Some results for the UK industrial sector

    Energy Technology Data Exchange (ETDEWEB)

    Hunt, L.C.

    1984-10-01

    This paper investigates the substitutability or complementarity possibilities between capital, labor, and energy in the UK industrial sector, with particular attention to the capital-energy relationship. It is found, using the translog-cost-function approach, that capital and labor as well as energy and labor are substitutes. However, capital and energy are found to be complements. 11 references, 3 tables.

  18. 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

  19. A comparison of cost-based pricing rules for natural gas distribution utilities

    International Nuclear Information System (INIS)

    Klein, C.C.

    1993-01-01

    Partial-equilibrium social welfare deadweight losses under uniform Ramsey pricing, a cost allocation pricing method, and the actual average revenues by customer class for two natural gas distribution utilities are calculated and compared. Marginal cost estimates are derived from a multiple-output translog variable cost function and used, along with three sets of demand elasticities, to generate the Ramsey prices and welfare losses. The actual and cost-allocation prices are taken directly from rate case files. The largest social welfare losses are associated with the cost-allocation rule, as high as 10-25% of revenue, despite suggestions in the literature to the contrary. (Author)

  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. The cost of nuclear electricity: France after Fukushima

    International Nuclear Information System (INIS)

    Boccard, Nicolas

    2014-01-01

    The Fukushima disaster has lead the French government to release novel cost information relative to its nuclear electricity program allowing us to compute a levelized cost. We identify a modest escalation of capital cost and a larger than expected operational cost. Under the best scenario, the cost of French nuclear power over the last four decades is 59€/MWh (at 2010 prices) while in the worst case it is 83€/MWh. On the basis of these findings, we estimate the future cost of nuclear power in France to be at least 76€/MWh and possibly 117€/MWh. A comparison with the US confirms that French nuclear electricity nevertheless remains cheaper. Comparisons with coal, natural gas and wind power are carried out to find the advantage of these. - Highlights: • We compute the levelized cost of French nuclear power over 40 years using a novel court of audit report. • We include R and D, technology development, fissile fuel, financing cost, decommissioning and the back-end cycle. • We find a mild capital cost escalation and a high operation cost driven by a low fleet availability. • The levelized cost ranges between 59 and 83€/MWh (at 2010 prices) and compares favorably to the US. • A tentative cost for future nuclear power ranges between 76 and 117€/MWh and compares unfavorably against alternative fuels

  2. A comparison of municipal forest benefits and costs in Modesto and Santa Monica, California, U.S.A

    Science.gov (United States)

    E.G. McPherson; J.R. Simpson

    2002-01-01

    This paper presents a comparison of the structure, function, and value of street and park tree populations in two California cities. Trees provided net annual benefits valued at $ 2.2 million in Modesto and $805, 732 in Santa Monica. Benefit-cost ratios were 1.85:1 and 1.52:1 in Modesto and Santa Monica, respectively. Residents received $1.85 and $1.52 in annual...

  3. A comparison of two methods for estimating the technical costs of external beam radiation therapy

    International Nuclear Information System (INIS)

    Hayman, James A.; Lash, Kathy A.; Tao, May L.; Halman, Marc A.

    2000-01-01

    Purpose: To accurately assess the cost-effectiveness of treatment with external beam radiation, it is necessary to have accurate estimates of its cost. One of the most common methods for estimating technical costs has been to convert Medicare charges into costs using Medicare Cost-to-Charge Ratios (CCR). More recently, health care organizations have begun to invest in sophisticated cost-accounting systems (CAS) that are capable of providing procedure-specific cost estimates. The purpose of this study was to examine whether these competing approaches result in similar cost estimates for four typical courses of external beam radiation therapy (EBRT). Methods and Materials: Technical costs were estimated for the following treatment courses: 1) a palliative 'simple' course of 10 fractions using a single field without blocks; 2) a palliative 'complex' course of 10 fractions using two opposed fields with custom blocks; 3) a curative course of 30 fractions for breast cancer using tangent fields followed by an electron beam boost; and 4) a curative course of 35 fractions for prostate cancer using CT-planning and a 4-field technique. Costs were estimated using the CCR approach by multiplying the number of units of each procedure billed by its Medicare charge and CCR and then summing these costs. Procedure-specific cost estimates were obtained from a cost-accounting system, and overall costs were then estimated for the CAS approach by multiplying the number of units billed by the appropriate unit cost estimate and then summing these costs. All costs were estimated using data from 1997. The analysis was also repeated using data from another academic institution to estimate their costs using the CCR and CAS methods, as well as the appropriate relative value units (RVUs) and conversion factor from the 1997 Medicare Fee Schedule to estimate Medicare reimbursement for the four treatment courses. Results: The estimated technical costs for the CCR vs. CAS approaches for the four

  4. Capital requirement, bank competition and stability in Africa

    Directory of Open Access Journals (Sweden)

    Jacob Oduor

    2017-06-01

    Full Text Available Monetary authorities around the world are implementing enhanced banking capital adequacy requirements under Basel III meant to improve financial stability. Critics however argue that increased capital requirements concentrate the banking industry reducing competition while not guaranteeing financial sector stability. Using data from 167 banks in 37 African countries, we find that increased capital beef-up significantly increases financial instability in Africa (except in big banks implying that higher capital requirements did not make African banks safer. We also find that increased regulatory capital improves competitive pricing for foreign banks while it makes domestic banks less competitive mainly attributed to the high cost of sourcing and holding extra capital for domestic banks compared to foreign banks who can source cheaper capital from parent companies. The results put to question the effectiveness of enhanced regulatory capital on stability and competitiveness of the African financial system.

  5. Surgical management of bilateral vocal fold paralysis: A cost-effectiveness comparison of two treatments.

    Science.gov (United States)

    Naunheim, Matthew R; Song, Phillip C; Franco, Ramon A; Alkire, Blake C; Shrime, Mark G

    2017-03-01

    Endoscopic management of bilateral vocal fold paralysis (BVFP) includes cordotomy and arytenoidectomy, and has become a well-accepted alternative to tracheostomy. However, the costs and quality-of-life benefits of endoscopic management have not been examined with formal economic analysis. This study undertakes a cost-effectiveness analysis of tracheostomy versus endoscopic management of BVFP. Cost-effectiveness analysis. A literature review identified a range of costs and outcomes associated with surgical options for BVFP. Additional costs were derived from Medicare reimbursement data; all were adjusted to 2014 dollars. Cost-effectiveness analysis evaluated both therapeutic strategies in short-term and long-term scenarios. Probabilistic sensitivity analysis was used to assess confidence levels regarding the economic evaluation. The incremental cost effectiveness ratio for endoscopic management versus tracheostomy is $31,600.06 per quality-adjusted life year (QALY), indicating that endoscopic management is the cost-effective short-term strategy at a willingness-to-pay (WTP) threshold of $50,000/QALY. The probability that endoscopic management is more cost-effective than tracheostomy at this WTP is 65.1%. Threshold analysis demonstrated that the model is sensitive to both utilities and cost in the short-term scenario. When costs of long-term care are included, tracheostomy is dominated by endoscopic management, indicating the cost-effectiveness of endoscopic management at any WTP. Endoscopic management of BVFP appears to be more cost-effective than tracheostomy. Though endoscopic cordotomy and arytenoidectomy require expertise and specialized equipment, this model demonstrates utility gains and long-term cost advantages to an endoscopic strategy. These findings are limited by the relative paucity of robust utility data and emphasize the need for further economic analysis in otolaryngology. NA Laryngoscope, 127:691-697, 2017. © 2016 The American Laryngological

  6. Capital budgeting practices in Indian companies

    Directory of Open Access Journals (Sweden)

    Roopali Batra

    2017-03-01

    Full Text Available The volatility of the global economy, changing business practices, and academic developments have created a need to re-examine Indian corporate capital budgeting practices. Our research is based on a sample of 77 Indian companies listed on the Bombay Stock Exchange. Results reveal that corporate practitioners largely follow the capital budgeting practices proposed by academic theory. Discounted cash flow techniques of net present value and internal rate of return and risk adjusted sensitivity analysis are most popular. Weighted average cost of capital as cost of capital is most favoured. Nevertheless, the theory-practice gap remains in adoption of specialised techniques of real options, modified internal rate of return (MIRR, and simulation. Non-financial criteria are also given due consideration in project selection.

  7. Capital Equipment Replacement Decisions

    OpenAIRE

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

    1995-01-01

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

  8. NPP construction cost in Canada

    International Nuclear Information System (INIS)

    Gorshkov, A.L.

    1988-01-01

    The structure of capital costs during NPP construction in Canada is considered. Capital costs comprise direct costs (cost of the ground and ground rights, infrastructure, reactor equipment, turbogenerators, electrotechnical equipment, auxiliary equipment), indirect costs (construction equipment and services, engineering works and management services, insurance payments, freight, training, operating expenditures), capital per cents for the period of construction and cost of heavy water storages. It proceeds from the analysis of the construction cost structure for a NPP with the CANDU reactor of unit power of 515, 740 and 880 MW, that direct costs make up on the average 62%

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

    Science.gov (United States)

    Jacobsen, R; Buysse, J; Gellynck, X

    2013-01-01

    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. Copyright © 2012 Elsevier Ltd. All rights reserved.

  10. Day-care versus inpatient pediatric surgery: a comparison of costs incurred by parents.

    OpenAIRE

    Stanwick, R S; Horne, J M; Peabody, D M; Postuma, R

    1987-01-01

    The cost-effectiveness for parents of day-care pediatric surgery was assessed by comparing time and financial costs associated with two surgical procedures, one (squint repair) performed exclusively as a day-care procedure, the other (adenoidectomy) performed exclusively as an inpatient procedure. All but 1 of 165 eligible families participated. The children underwent surgery between February and July 1981. The day-care surgery group (59 families) incurred average total time costs of 16.1 hou...

  11. Cost and efficacy comparison of in vitro fertilization and tubal anastomosis for women after tubal ligation.

    Science.gov (United States)

    Messinger, Lauren B; Alford, Connie E; Csokmay, John M; Henne, Melinda B; Mumford, Sunni L; Segars, James H; Armstrong, Alicia Y

    2015-07-01

    To compare cost and efficacy of tubal anastomosis to in vitro fertilization (IVF) in women who desired fertility after a tubal ligation. Cost-effectiveness analysis. Not applicable. Not applicable. Not applicable. Cost per ongoing pregnancy. Cost per ongoing pregnancy for women after tubal anastomosis ranged from $16,446 to $223,482 (2014 USD), whereas IVF ranged from $32,902 to $111,679 (2014 USD). Across maternal age groups cost effective than IVF for ongoing pregnancy. Sensitivity analyses validated these findings across a wide range of ongoing pregnancy probabilities as well as costs per procedure. Tubal anastomosis was the most cost-effective approach for most women less than 41 years of age, whereas IVF was the most cost-effective approach for women aged ≥41 years who desired fertility after tubal ligation. A model was created that can be modified based on cost and success rates in individual clinics for improved patient counseling. Copyright © 2015 American Society for Reproductive Medicine. All rights reserved.

  12. Costs comparison between solar photovoltaic system and moto-generator for supplying the isolated small community

    International Nuclear Information System (INIS)

    Fadigas, E.A.F.A.; Faga, M.T.W.

    1993-01-01

    This work describes a technical configuration from which making an economic evaluation that comparing the photovoltaic option with moto-generator, energy source very used in rural community, presenting the relations of implantation cost between two options, showing the sensibility of these cost in function of some variables like: demand, reduction tax, solar radiation, and, as the solar energy market photovoltaic presents cost upper than international cost due to the inexpressive scale economy, make the analysis with one prices range, possibility an evaluation not limited to the national market. 3 refs, 8 figs

  13. Comparison of costs of electricity generation based on nuclear energy and pit coal

    International Nuclear Information System (INIS)

    1981-01-01

    Despite of a meanwhile considerable increase in costs of installation, especially of nuclear power stations, the differences in costs have increased in favour of nuclear electricity generation. The cost advantages are estimated 4 German Pfennig per kilowatt-hour in the base-load field for plants coming into operation at the end of this decade compared with the most profitable variant of pit coal utilization on which this investigation is based; compared to the use of German hard coal, assuming a relatively optimistic development of prices for domestic hard coal in the future, the cost advantage is estimated 8 German Pfennig per kilowatt-hour. The main reason is that in the past years the price for German hard coal as well as for imported coal considerably rose and for the future further increases have to be expected whereas the largest share of the costs of nuclear electricity generation doesn't increase, after the plant is completed. Considering the importance of the fuel costs within the total costs of electricity generation in coal power stations this must have its effects on the total result. These results also prove to be valid for a variation of important cost parameters. Only if the unlikely assumption that considerable variations of influences on costs - each unfavourable effecting nuclear electricity generation - would come together would prove to be true the economic efficiency of nuclear energy would be reduced or questioned. (UA) [de

  14. The external costs of electricity generation: a comparison of generation technologies

    Energy Technology Data Exchange (ETDEWEB)

    Ozdemiroglu, E [Economics for the Environment Consultancy, London (United Kingdom)

    1995-12-01

    Electricity generation, like any economic activity, leads to costs that can be grouped in two categories: (a) private or internal and (b) external. Private costs are those paid by the buyers and sellers of energy within the market system. The external costs, however, are not included in the market price mechanism as they accrue to third parties other than the buyer and the seller. External costs include environmental external costs and non-environmental external costs. There are two conditions for the existence of external costs: (a) market failure, or the inability of markets to account for the cost of environmental impacts of energy generation and the market structure and (b) government or policy failure, or the policies that cause private generators to pay either higher or lower costs than they would if these interventions did not exist. A third reason can be added for the existence of non-environmental externalities: energy security, or certain costs faced by society as a result of over-reliance on imported energy. Section A introduces the concept of external costs and benefits. Section B looks at the environmental externalities of energy generation. The procedure is to develop the methodology to estimate what are known as externality adders, i.e. a monetary value for the environmental costs and benefits associated with selected generation technologies, expressed in pence per kilowatt-hour. The result is an `adder` because, in principle, the sum can be added to the private cost of generating electricity to obtain a measure of the `full` or `social` cost. The selected generation technologies are conventional coal, wind power, small-scale hydro, energy crops, incineration of municipal solid waste and energy recovery from landfill. The data reported are based on the application of the technologies in Scotland, but the methodology can be applied anywhere. Section C takes a brief look at the non-environmental externalities including the general theory and evidence

  15. The external costs of electricity generation: a comparison of generation technologies

    International Nuclear Information System (INIS)

    Ozdemiroglu, E.

    1995-01-01

    Electricity generation, like any economic activity, leads to costs that can be grouped in two categories: (a) private or internal and (b) external. Private costs are those paid by the buyers and sellers of energy within the market system. The external costs, however, are not included in the market price mechanism as they accrue to third parties other than the buyer and the seller. External costs include environmental external costs and non-environmental external costs. There are two conditions for the existence of external costs: (a) market failure, or the inability of markets to account for the cost of environmental impacts of energy generation and the market structure and (b) government or policy failure, or the policies that cause private generators to pay either higher or lower costs than they would if these interventions did not exist. A third reason can be added for the existence of non-environmental externalities: energy security, or certain costs faced by society as a result of over-reliance on imported energy. Section A introduces the concept of external costs and benefits. Section B looks at the environmental externalities of energy generation. The procedure is to develop the methodology to estimate what are known as externality adders, i.e. a monetary value for the environmental costs and benefits associated with selected generation technologies, expressed in pence per kilowatt-hour. The result is an 'adder' because, in principle, the sum can be added to the private cost of generating electricity to obtain a measure of the 'full' or 'social' cost. The selected generation technologies are conventional coal, wind power, small-scale hydro, energy crops, incineration of municipal solid waste and energy recovery from landfill. The data reported are based on the application of the technologies in Scotland, but the methodology can be applied anywhere. Section C takes a brief look at the non-environmental externalities including the general theory and evidence

  16. Comparison of Swiss basic health insurance costs of complementary and conventional medicine.

    Science.gov (United States)

    Studer, Hans-Peter; Busato, André

    2011-01-01

    From 1999 to 2005, 5 methods of complementary and alternative medicine (CAM) applied by physicians were provisionally included into mandatory Swiss basic health insurance. Between 2012 and 2017, this will be the case again. Within this process, an evaluation of cost-effectiveness is required. The goal of this study is to compare practice costs of physicians applying CAM with those of physicians applying solely conventional medicine (COM). The study was designed as a cross-sectional investigation of claims data of mandatory health insurance. For the years 2002 and 2003, practice costs of 562 primary care physicians with and without a certificate for CAM were analyzed and compared with patient-reported outcomes. Linear models were used to obtain estimates of practice costs controlling for different patient populations and structural characteristics of practices across CAM and COM. Statistical procedures show similar total practice costs for CAM and COM, with the exception of homeopathy with 15.4% lower costs than COM. Furthermore, there were significant differences between CAM and COM in cost structure especially for the ratio between costs for consultations and costs for medication at the expense of basic health insurance. Patients reported better quality of the patient-physician relationship and fewer adverse side effects in CAM; higher cost-effectiveness for CAM can be deduced from this perspective. This study uses a health system perspective and demonstrates at least equal or better cost-effectiveness of CAM in the setting of Swiss ambulatory care. CAM can therefore be seen as a valid complement to COM within Swiss health care. Copyright © 2011 S. Karger AG, Basel.

  17. Activity-based costing for pathology examinations and comparison with the current pricing system in Turkey.

    Science.gov (United States)

    Ergün, Ferda A K; Ağirbaş, Ismail; Kuzu, Işınsu

    2013-01-01

    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. 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. 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. 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.

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

    International Nuclear Information System (INIS)

    Jacobsen, R.; Buysse, J.; Gellynck, X.

    2013-01-01

    Highlights: ► The goal is to compare collection costs for residual household waste. ► We have clustered all municipalities in order to find mutual comparable pairs. ► Each pair consists of one private and one public operating waste collection program. ► All cases show that private service has lower costs than public service. ► 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.

  19. 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.

  20. Comparison of cost effectiveness of risk reduction among different energy systems: French case studies. Final report of the co-ordinated research programme

    International Nuclear Information System (INIS)

    Lochard, Jacques

    1989-08-01

    This report presents the three French case studies performed in the framework of the coordinated research program on 'Comparison of Cost-effectiveness of Risk Reduction among different Energy Systems': Cost effectiveness of robotics and remote tooling for occupational risk reduction at a nuclear fuel fabrication facility; Cost-effectiveness of protection actions to reduce occupational exposures in underground uranium mines; Cost-effectiveness of safety measures to reduce public risk associated with the transportation of UF 6 by truck and trains