Leon Berkelmans; Gareth Spence
The Australian Bureau of Statistics capital expenditure survey is one of the inputs into the Reserve Bank’s forecasts for private business investment. This article considers several methods for interpreting the expectations data from this survey and evaluates these methods using out-of-sample forecasts. Forecasts based on long-run average realisation ratios are found to be the most accurate of the options considered, although the use of these forecasts for predicting investment in the nationa...
This research analyzes the influence of fiscal decentralization on capital expenditure, economic growth, and social welfare of 29 regencies and 6 cities in Central Java Province based on the data of year 2004 to 2008. The method used to analyze the hypotheses is the Partial Least Square. The results showes that fiscal decentralization has no significant effect on capital expenditure; fiscal decentralization has significant effect on economic growth and social welfare; capital expenditure has ...
Natasha Cassidy; Emma Doherty; Troy Gill
Business investment is a key driver of economic growth and is currently around record highs in Australia as a share of GDP. In compiling forecasts for business investment, the Reserve Bank uses a variety of different indicators, including information from liaison as well as survey measures of firms’ investment intentions. The most comprehensive survey is the Australian Bureau of Statistics’ (ABS) quarterly survey of Private New Capital Expenditure and Expected Expenditure (Capex survey). Whil...
Dadgostar, Bahram; Mirabelli, Frank
Does the provision of Canadian government capital expenditures and government deficits displace private economic activity? In the U.S., Erenburg (1993) found that private sector investment spending is enhanced by expected increases in public spending on infrastructure, while also showing that deficit spending has no significant effect on private investment. There is no empirical study to date that addresses the relationship between government capital investment and government debt on private ...
Rogers, M M
Competition for health care capital dollars has increased as third-party and government reimbursement decreases, patient volume decreases, and alternative services increase. Given this rationing situation, it is more important than ever that the health care supervisor carefully document and present a capital expenditure request. This request should outline skillfully the benefits and costs of undertaking a new service or replacing an old asset. A supervisor who can quantify the costs and benefits of a project and utilize one of the four common capital budgeting techniques: payback period, net present value, profitability index, or internal rate of return, will certainly be taking a step in the right direction for ensuring a serious evaluation of his or her proposal. This article attempts to explain this process using both narrative and quantitative examples.
Full Text Available The capital expenditures are part of direct expenditure in the regional budget. The other elements of capital expenditures are: personnel expenditure, and spending on goods and services. Planning and realization for capital expenditure in the regional budget for each Government Regional Work Units is a part of policy regional financial management in fiscal decentralization policy which need be increased to achieve value significantly over time. Increasing in planning and realization of capital expenditures is directly related to the amount of capital expenditure element that strengthens physical infrastructure which would strengthen economic growth for social welfare, regional competitiveness for facilitation and liberalization a single market and production base in AEC era. This study examines the role of agency theory and institutional theory in relation with planning and realization of capital expenditures of 82 (Eighty Two Government Work Units of 3 (Three regional government, namely Banjarmasin City, Banjar District, and Tanah Laut District in South Kalimantan Province. This study contributes to the accounting literature to assess role of conceptual framework with agency theory and institutional theory. The result of study showed: there are differences in the implementation of capital expenditure to meet AEC pillars and social welfare purposes by increasing capital expenditure through the role of the agency theory, and institutional theory. Relationship of agency theory and institutional theory with social welfare and AEC with the amount of C Contingency coefficient 0,313 and Cramer Coefficient of Association 0.191 indicates there are Moderate correlation: substantial relationship and Small correlation; Lower relationship association.
Zazovskiy, F Ya; Soltysyak, T I
The operational efficiency of drilling services operations management are examined. The structure of time expenditure is analyzed for repair operations according to equipment type employed by the Ivano-Frankovsk Drilling Management under the Ukrneft' enterprise during 1977. The results of this analysis are weighed against a series of service operations carried out at industrial enterprises and connected with technical disruptions. Some of the cases examined include service competion operations outside of the industrial units when technical processes are disrupted only for the change of equipment which has outlived its usefulness and is no longer in series production. First of all, time expended for repair work can be reduced to zero during the drilling of shallow wells which do not require extensive drilling time. The actual savings, both in time and money, as far as repair work is concerned, hinges on the actual time factor for total oil depetion. An equation is provided for optimal time expenditure necessary for repair work and equipment replacement. An actual example is given from the Dolinsk UBR (Drillin Management) under the Ukrneft' enterprise where time spent on actual service operations has appeared to be less than the optimal figure cited in the above material. This is possible because of increased capital expenditures.
Ouyang, Wenjing; Hilsenrath, Peter E.
Investment, especially through merger and acquisition (M&A), is a leading topic of concern among health care managers. In addition, the implications of this activity for organization and market concentration are of great interest to policy makers. Using a sample of 2256 firm-year observations in the health care industry during the period from 1985 to 2011, this article provides novel evidence that managers learn from financial markets in making capital expenditure (CAPEX) and M&A investment decisions. Within the industry, managers in the Drugs subsector are most likely to do so, whereas managers in the Medical Equipment and Supplies are least likely to do so. We find informative stock prices improve firm financial performance. This article highlights the importance of financial markets for real economic activity in the health care industry. PMID:28220717
Zhidchenko, N V
It is shown, that the effective method in analyzing capital expenditure is the use of the economic statistical method. It is a result of the fact that capital expenditure is formed under the influence of a number of factors. On the basis of the coal industry, a model of capital expenditure, in which we found reflection of mining geological, technical, and technical conditions of production, was constructed. A level of capital expenditure is analyzed for various groups of mines and recommendations of a better use of basic industrial capital at coal enterprises is analyzed.
McCue, Michael J
Prior literature provides only a descriptive view of the types and numbers of capital expenditures made by hospitals. This study conducted an empirical analysis to assess simultaneously what market, organizational, and financial factors relate to the number of capital projects as well as the specific types: medical equipment, expansion, and maintenance projects. Sampling California hospital capital expenditure data from 2002 to 2007, this study aggregated the number of capital projects by each type of capital investment decision: medical equipment, expansion, and maintenance/renovation per hospital. Using ordinary least squares regression, this study evaluated the association of these factors with these types of capital investment projects. This study found that hospitals capturing a greater share of the market, maintaining high levels of liquidity, and operating with more than 350 beds invested in a greater number of capital projects per hospital as well as medical equipment and expansionary projects per hospital. Within the state of California, the demand for health care services within a hospital market as well as cash and investment reserves were key drivers in the hospital CEOs and boards' decision to increase their capital purchases. The types of purchases included capital outlays related to medical equipment, such as CT scanners, MRIs, and surgical systems, and revenue-generating expansionary projects, such as new bed towers, hospitals wings, operating and emergency rooms, and replacement hospitals from 2002 to 2007.
...) INCOME TAX (CONTINUED) INCOME TAXES Items Not Deductible § 1.263(a)-2 Examples of capital expenditures... subsidiary and increasing the value of its stockholdings in the subsidiary shall not deduct amounts paid in... be added to the cost of its stock in the subsidiary. (h) The cost of good will in connection with the...
The objective of this study was to examine the determinants of healthcare expenditure in Bangladesh between 1995 and 2010 byapplying the World development indicator data. First, I developed an empirical model for longitudinal data analysis to determinant thehealthcare expenditure under the human capital and economic growth. Next, I explored the dynamic relationships among healthcareexpenditure, human capital and economic growth usingOLSmodel. The expenditure in private healthcare was 2.3% and...
Full Text Available The article highlights the process of reflection in accounting the capital costs for land improvement. The main legislation governing this issue is covered. Also the article has agreed the key issues that ensure in accounting for capital expenditures for farmland improving. The survey has benefited such general scientific methods as: induction and deduction, dialectic, historical and systematic methods and specific methods of accounting. Due to the land reform the ownership of the land was changed. Lands which were owned by farms have been privatized and have received a particular owner. Now privatized lands constitute a significant part of farmland. The land managers require quality accounting information about composition and state of the land and improvements that occur to make an effective management. The numerous changes in legislation generate controversies in their interpretation and, consequently, it results in appearance of the discrepancies in the conduct of cost accounting for capital land improvement which will effect on the amount of net profit in future. The article reflects the economic substance of the process and fundamentally describes the implementation method of accounting for capital expenditure for land in accordance with the applicable law.
Muda, Iskandar; Annisa Fitri Hutapea, Azura
This study aims to determine the Capital Expenditure and Income Original Region is considered to have a significantly positive effect on the increase in income per capita in the Government of North Sumatera Province and West Java Province. The method of research in this thesis is by using a causal research design, with a sample of 25 districts/cities in North Sumatera Province and West Java Province. This study was conducted for the period 2012-2015. The type of data used is secondary data. The method of analysis used in this research is SEM method using software AMOS. The result of this hypothesis shows that simultaneously both independent variables significantly influence to increase of income per capita.
... developing citrus and almond groves. 1.278-1 Section 1.278-1 Internal Revenue INTERNAL REVENUE SERVICE... Capital expenditures incurred in planting and developing citrus and almond groves. (a) General rule. (1)(i... any citrus or almond grove (or part thereof), and which is incurred before the close of the fourth...
Full Text Available The aim of this study was to determine the influence of Capital Expenditure and Investment, and Employment on economic growth in South Sulawesi. This study uses time series data (time series in 2001-2013. Data collected through observation and documentation. Data were analyzed using multiple linear regression analysis by the method of ordinary least squares (OLS. The results showed that the variable Capital Expenditures, Investment, and Labour significant effect on economic growth in South Sulawesi. Capital Expenditure Partially variables, and variables of Labor has a significant influence on the economic growth of South Sulawesi. While variable investments significantly negative effect on economic growth in South Sulawesi.
... and necessary trade or business expenses) and section 263(a) (relating to the capitalization... is not deductible as a business expense. Section 1.162-11(b) of the existing regulations also... court explained that repair and maintenance expenses are incurred for the purpose of keeping property in...
Ken Skog; John Bergstrom; Elizabeth Hill; Ken Cordell
USDA Forest Service capital investment in management infrastructure was $501 and $390 million (2005$) for 2005 and 2007, respectively. National forest programs expenditures decreased from $3.0 to $2.7 billion between 2004 and 2007 and wildfire management expenditures increased from $1.7 to $2.1 billion (2005$). State forestry program expenditures for 1998, 2002, and...
Cho, Charles H.; Freedman, Martin; Patten, Dennis M.
International audience; In this study, we examine three potential explanations for the corporate choice to disclose environmental capital spending amounts. We investigate, first, whether the disclosure appears to be a function of the materiality of the spending and we find that, for the overwhelming majority of observations, the disclosed amounts are not quantitatively material. This suggests that non-disclosure is likely due to immateriality. We next attempt to differentiate the choice to di...
Andriot, J.; Gaussens, J.
A number of different possible programs for nuclear power stations of various types are presented in this survey. These programs are established in relation to the use of uranium and thorium in amounts similar to those that shall probably be produced in France during the next fifteen years. As it is possible to draw plans for nuclear power stations in which several processes exist simultaneously, an unlimited number of variations being thinkable, this survey is limited to successive analysis of the results obtained by use of only one of each of the following three systems: - system natural uranium-graphite, - system natural uranium-heavy water, -system enriched uranium-pressurised light water. All schemes are considered as assemblages of these three simple systems. The effects of plutonium recycling are also considered for each system. The electric power installed and the capacity of stations situated up-stream and down-stream have been calculated by this method and an attempt has been made to establish the sum to be invested during the fifteen years necessary for the launching of the programs scheduled. A table of timing for the investments groups the results obtained. Considering the fact that French availabilities in capital shall not be unlimited during the coming years, this way of presenting the results seems to be interesting. (author) [fr
Rech, O.; Saniere, A.
In the future, the increase in oil demand will be covered for the most part by non conventional oils, but conventional sources will continue to represent a preponderant share of the world oil supply. Their depletion represents a complex challenge involving technological, economic and political factors. At the same time, there is reason for concern about the decrease in exploration budgets at the major oil companies. (author)
Rech, O.; Saniere, A
In the future, the increase in oil demand will be covered for the most part by non conventional oils, but conventional sources will continue to represent a preponderant share of the world oil supply. Their depletion represents a complex challenge involving technological, economic and political factors. At the same time, there is reason for concern about the decrease in exploration budgets at the major oil companies. (author)
Pangaribowo, Evita Hanie
Using the Indonesian setting with its cultural heterogeneity, this paper examines women’s bargaining power in the distribution of household expenditures. Women’s share of assets and participation in community-based organizations and development in the village is used to approach bargaining power. This study employs the Indonesian longitudinal dataset from the Indonesia Family Life Survey (IFLS). The results show that women’s share of assets has negative effect on adult goods expenditure. This...
Ketchum, K; Lavigne, R.; Plummer, R.
The oil sands are a strategic Canadian resource for which federal and provincial governments provide financial incentives to develop and exploit. This report describes the Oil Sands Tax Expenditure Model (OSTEM) developed to estimate the size of the federal income tax expenditure attributed to the oil sands industry. Tax expenditures are tax concessions which are used as alternatives to direct government spending for achieving government policy objectives. The OSTEM was developed within the business Income Tax Division of Canada's Department of Finance. Data inputs for the model were obtained from oil sands developers and Natural Resources Canada. OSTEM calculates annual revenues, royalties and federal taxes at project levels using project-level projections of capital investment, operating expenses and production. OSTEM calculates tax expenditures by comparing taxes paid under different tax regimes. The model also estimates the foregone revenue as a percentage of capital investment. Total tax expenditures associated with investment in the oil sands are projected to total $820 million for the period from 1986 to 2030, representing 4.6 per cent of the total investment. 10 refs., 2 tabs., 7 figs
van Wijnbergen, S.J.G.
Capital import taxes lower (raise) world (home) interest rates. This shifts home expenditure from the present to the future and foreign expenditure from the future to today. With identical home and foreign expenditure patterns, the change in the composition of world expenditure has no effects on
Sun, Jing; Zhang, Xiaotian; Zhang, Zou; Wagner, Anita K.; Ross-Degnan, Dennis; Hogerzeil, Hans V.
ObjectivesTo assess a new Chinese insurance benefit with capitated provider payment for common diseases in outpatients. MethodsLongitudinal health insurance claims data, health administrative data and primary care facility data were used to assess trajectories in outpatient visits, inpatient
Payne, Christopher T
When planning capital expenditures, hospitals and health systems should understand the following financing considerations: Traditional fixed-rate tax-exempt bonds; Variable-rate financing alternatives; Basel III Accord requirements; Direct tax-exempt bank loans; Total return swaps Taxable financings; Interest-rate swaps and collateral requirements
U.S. Department of Health & Human Services — National Health Expenditure Accounts are comprised of the following, National Health Expenditures - Historical and Projected, Age Estimates, State Health...
... property which is neither a capital asset nor property described in section 1231. (iii) If a taxpayer pays...) Allocation of certain expenditures. A project area consists of that territory which the taxpayer has... available) can be explored advantageously as a single integrated operation. If exploration expenditures are...
Illustrated by several graphs, this publication comments the evolution of public expenditure for the protection of the environment, compares the current expenditure and the capital expenditure. It comments the share of waste management and wastewater sanitation with respect to the global expenditure (it represents 62 pc of it) and the evolutions of the expenditures for each domain of the environment (protection of the environment and ecosystems, waste management and struggle against noise pollution, research and development, public actions for regulation and administration). It comments the increase of prices of sanitation services and the decrease of consumed volumes of water, the increase of R and D expenditure, the influence of the legal context on the increase of industry investments for air protection. The expenditures for the protection of the environment in the European countries are indicated and compared
Andy Cosh; Douglas Cumming; Alan Hughes
This paper investigates the internal versus external financing decisions among 1900 early stage privately held UK firms in 1996-1997. We study the factors that affect rejection rates in applications for outside finance among the different types of investors, taking into account the non-randomness in a firm’s decision to seek outside finance. The data support the traditional pecking order theory; firms with greater capital expenditures / profits are more likely to seek finance and apply for mo...
The official national accounts statistics do not show the role of human capital in the national economy. A set of satellite tables supplementing the standard national accounts statistics could serve this data need. In this satellite account, expenditure on education and training are recorded as human capital formation. This includes not only the expenditure on primary, secondary and tertiary education, but also expenditure on training and courses by employers and the earnings foregone by stud...
Snyder, Herbert W.; Pierce, Jennifer Burek
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…
Poehlein, Gary W.; And Others
Illustrates a system of calculating dollar expenditures over periods of time in terms of present value. The system enables planners, school boards, and administrators to compare expenditure alternatives as a decisionmaking factor. (Author)
The primary objective of the Public Expenditure Review (PER) is to assist the Ministry of Finance (MOF) in identifying opportunities for efficiency gains in some key categories of government expenditure. In this context, policy makers face two related fiscal dilemmas. First, how can expenditure efficiency are increased to provide public services with fewer resources? Second, how can the fi...
Full Text Available The incentives of health care expenditure (HCE have been a topic of discussion in the USA (Obama reforms and in Europe (adjustment to debt crisis. There are competing views of institutional versus GDP (unit income elasticity and productivity related factors of growth of expenditure. However ageing of populations, technology change and economic incentives related to institutions are also key drivers of growth according to the OECD and EU’s AWG committee. Simulation models have been developed to forecast the growth of social expenditure (including HCEs to 2050. In this article we take a historical perspective to look at the institutional structures and their relationship to HCE growth. When controlling for age structure, price developments, doctor density and in-patient and public shares of expenditures, we find that fee-for-service in primary care, is according to the results, in at least 20 percent more costly than capitation or salary remuneration. Capitation and salary (or wage remuneration are at same cost levels in primary care. However we did not find the cost lowering effect for gatekeeping which could have been expected based on previous literature. Global budgeting 30 (partly DRG based percent less costly in specialized care than other reimbursement schemes like open contracting or volume based reimbursement. However the public integration of purchaser and provider cost seems to result to about 20 higher than public reimbursement or public contracting. Increasing the number of doctors or public financing share results in increased HCEs. Therefore expanding public reimbursement share of health services seems to lead to higher HCE. On the contrary, the in-patient share reduced expenditures. Compared to the previous literature, the finding on institutional dummies is in line with similar modeling papers. However the results for public expansion of services is a contrary one to previous works on the subject. The median lag length of
Carroll, Nathan W; Smith, Dean G; Wheeler, John R C
Capital expenditures are a critical part of hospitals' efforts to maintain quality of patient care and financial stability. Over the past 20 years, finding capital to fund these expenditures has become increasingly challenging for hospitals, particularly independent hospitals. Independent hospitals struggling to find ways to fund necessary capital investment are often advised that their best strategy is to join a multi-hospital system. There is scant empirical evidence to support the idea that system membership improves independent hospitals' ability to make capital expenditures. Using data from the American Hospital Association and Medicare Cost Reports, we use difference-in-difference methods to examine changes in capital expenditures for independent hospitals that joined multi-hospital systems between 1997 and 2008. We find that in the first 5 years after acquisition, capital expenditures increase by an average of almost $16,000 per bed annually, as compared with non-acquired hospitals. In later years, the difference in capital expenditure is smaller and not statistically significant. Our results do not suggest that increases in capital expenditures vary by asset age or the size of the acquiring system. © The Author(s) 2015.
Carroll, Nathan W.; Smith, Dean G.; Wheeler, John R. C.
Capital expenditures are a critical part of hospitals’ efforts to maintain quality of patient care and financial stability. Over the past 20 years, finding capital to fund these expenditures has become increasingly challenging for hospitals, particularly independent hospitals. Independent hospitals struggling to find ways to fund necessary capital investment are often advised that their best strategy is to join a multi-hospital system. There is scant empirical evidence to support the idea that system membership improves independent hospitals’ ability to make capital expenditures. Using data from the American Hospital Association and Medicare Cost Reports, we use difference-in-difference methods to examine changes in capital expenditures for independent hospitals that joined multi-hospital systems between 1997 and 2008. We find that in the first 5 years after acquisition, capital expenditures increase by an average of almost $16 000 per bed annually, as compared with non-acquired hospitals. In later years, the difference in capital expenditure is smaller and not statistically significant. Our results do not suggest that increases in capital expenditures vary by asset age or the size of the acquiring system. PMID:26105571
Delaney, Jennifer A.; Doyle, William R.
This paper explores the role that state spending on higher education capital outlays plays in state budgets by considering the functional form of the relationship between state spending on higher education capital outlays and four types of state expenditures. Three possible functional forms are tested: a linear model, a quadratic model, and the…
We do double-entry national accounting and incorporate zero profit arbitrage conditions (Euler equations) for different types of capital, including natural capital. In non-balanced growth, capital gains terms for capital goods appear in the income side of the accounts. Depreciation terms appear on the product or expenditure side. We consider renewable natural capital as well as non-renewable of both durable and non-durable types. 14 refs
Bukh, Per Nikolaj; Christensen, Karina Skovvang
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...
Uhlig, H.F.H.V.S.; Yanagawa, N.
This paper shows that under rather mild conditions, higher capital income taxes lead to faster growth in an overlapping generations economy with endogenous growth. Government expenditures are financed with labor income taxes as well as capital income taxes. Since capital income accrues to the old,
Full Text Available This paper has made an attempt to examine relationship between military expenditure and economic growth using 56 country panel data spanning over 1995—2011. Panel fixed effect model has been estimated for all 56 countries and sub-groups classified on the basis of World Bank income criteria. The results of this study indicate a positive effect of military expenditure on economic growth but this positive effect is negligible compared to the alternative uses of scare resources on non-military expenditure. Thus, the effect of military expenditure on economic growth is very low compared to the effect of expenditure on capital formation, hence military expenditure as a sub-optimal means of increasing economic growth compared to alternative uses of government spending on formation of fixed capital. This study raises an important argument of huge opportunity cost of military expenditure. The present study concludes that the boosting of economic growth through higher military expenditure is neither effective nor efficient way of achieving higher growth in the economy.
Full Text Available The aim of this paper is to discuss the Romanian public expenditures policy promoted in the context of the economic and financial crisis. Firstly, we present a brief introduction on the effects of public expenditures policy to economic growth and the role of automatic stabilizers in times of economic recessions. Secondly, the paper analyzes the evolution of current and capital public expenditures before and during the economic and financial crisis, according to which unproductive spending prevailed, in detriment of productive investments which can stimulate the economic recovery.
Full Text Available The development of technology in recent decades has forced the transition from the industrialized society, where the main role was occupied by tangible assets, to an information society, where the essential place is played by intangible assets. These are assets that can not be touched or felt, but are very important to produce wealth and to maintain competitiveness. Within these, development expenditure occupies an important place because it influences the analysis of an entity and its future. The accounting practices applicable to development expenditure are based on theoretical fundamentals and ambiguous typologies. The purpose of the article is to present the controversies about recognizing and evaluating development expenditure. Although development expenditure involves large initial investments, it generates, on medium and long term, significant savings. Depending on the purpose for which it is carried out, research and development expenditure can in time generate identifiable intangible assets but also intangible unidentifiable assets. An optimistic attitude regarding the chances of success of a development project will lead to the capitalization of development expenditure. Capitalizing development expenditures, the usefulness of financial statements is increased, which is generally measured in the ability to explain stock prices through earnings and accounting values.
Full Text Available The tax system of the Republic of Croatia contains a large number of very diverse kinds of tax expenditures whose the declared aim is to achieve certain social and economic objectives. This paper considers all the items that constitute tax expenditures in Croatia, within the systems of the personal income tax, corporate income tax, and real estate transfer tax and value added tax. The objective of the article is to determine the real level of tax expenditures per form of tax in the 2001-2004 period. We hypothesised that the tax expenditures in the analysed forms of tax are both high and growing, which was ultimately borne out, for almost all the analysed items in the tax forms considered are growing.
... 26 Internal Revenue 3 2010-04-01 2010-04-01 false Expenditures for advertising or promotion of... advertising or promotion of good will. See § 1.162-14 for the rules applicable to a corporation which has elected to capitalize expenditures for advertising or the promotion of good will under the provisions of...
W. Erwin Diewert
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...
Hoffman, James M; Shah, Nilay D; Vermeulen, Lee C; Doloresco, Fred; Martin, Patrick K; Blake, Sharon; Matusiak, Linda; Hunkler, Robert J; Schumock, Glen T
Drug expenditure trends in 2007 and 2008, projected drug expenditures for 2009, and factors likely to influence drug expenditures are discussed. Various factors are likely to influence drug expenditures in 2009, including drugs in development, the diffusion of new drugs, drug safety concerns, generic drugs, Medicare Part D, and changes in the drug supply chain. The increasing availability of important generic drugs and drug safety concerns continue to moderate growth in drug expenditures. The drug supply chain remains dynamic and may influence drug expenditures, particularly in specialized therapeutic areas. Initial data suggest that the Medicare Part D benefit has influenced drug expenditures, but the ultimate impact of the benefit on drug expenditures remains unclear. From 2006 to 2007, total U.S. drug expenditures increased by 4.0%, with total spending rising from $276 billion to $287 billion. Drug expenditures in clinics continue to grow more rapidly than in other settings, with a 9.9% increase from 2006 to 2007. Hospital drug expenditures increased at a moderate rate of only 1.6% from 2006 to 2007; through the first nine months of 2008, hospital drug expenditures increased by only 2.8% compared with the same period in 2007. In 2009, we project a 0-2% increase in drug expenditures in outpatient settings, a 1-3% increase in expenditures for clinic-administered drugs, and a 1-3% increase in hospital drug expenditures.
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)
du Gay, Paul; Morgan, Glenn
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...
... contemplated to fund working capital and capital expenditures. The financing is brought within the purview of... SMALL BUSINESS ADMINISTRATION Praesidian Capital Opportunity Fund III, LP; License No. 02/02- 0647... given that Praesidian Capital Opportunity Fund III, LP, 419 Park Avenue South, New York, NY 10016, a...
Cycle for fuel elements. Uranium production, programs for nuclear power stations and capital expenditure involved; Cycles de combustibles. Production d'uranium, programme de centrales electriques et effort financier correspondant
Andriot, J; Gaussens, J [Commissariat a l' Energie Atomique, Saclay (France). Centre d' Etudes Nucleaires
A number of different possible programs for nuclear power stations of various types are presented in this survey. These programs are established in relation to the use of uranium and thorium in amounts similar to those that shall probably be produced in France during the next fifteen years. As it is possible to draw plans for nuclear power stations in which several processes exist simultaneously, an unlimited number of variations being thinkable, this survey is limited to successive analysis of the results obtained by use of only one of each of the following three systems: - system natural uranium-graphite, - system natural uranium-heavy water, -system enriched uranium-pressurised light water. All schemes are considered as assemblages of these three simple systems. The effects of plutonium recycling are also considered for each system. The electric power installed and the capacity of stations situated up-stream and down-stream have been calculated by this method and an attempt has been made to establish the sum to be invested during the fifteen years necessary for the launching of the programs scheduled. A table of timing for the investments groups the results obtained. Considering the fact that French availabilities in capital shall not be unlimited during the coming years, this way of presenting the results seems to be interesting. (author)Fren. [French] L'etude presentee comporte l'examen d'un certain nombre d'hypotheses de programmes de centrales nucleaires de types differents. Ces programmes correspondent a l'utilisation de tonnages d'uranium et de thorium de l'ordre de grandeur de ceux qui seront probablement produits par la France dans les quinze prochaines annees. Comme il est possible de batir un programme de centrales nucleaires, comportant a la fois plusieurs filieres suivant des variantes en nombre infini, on s'est contente d'examiner successivement les resultats ous si on utilisait exclusivement l'une des trois filieres suivantes: - filiere uranium
Cycle for fuel elements. Uranium production, programs for nuclear power stations and capital expenditure involved; Cycles de combustibles. Production d'uranium, programme de centrales electriques et effort financier correspondant
Andriot, J.; Gaussens, J. [Commissariat a l' Energie Atomique, Saclay (France). Centre d' Etudes Nucleaires
A number of different possible programs for nuclear power stations of various types are presented in this survey. These programs are established in relation to the use of uranium and thorium in amounts similar to those that shall probably be produced in France during the next fifteen years. As it is possible to draw plans for nuclear power stations in which several processes exist simultaneously, an unlimited number of variations being thinkable, this survey is limited to successive analysis of the results obtained by use of only one of each of the following three systems: - system natural uranium-graphite, - system natural uranium-heavy water, -system enriched uranium-pressurised light water. All schemes are considered as assemblages of these three simple systems. The effects of plutonium recycling are also considered for each system. The electric power installed and the capacity of stations situated up-stream and down-stream have been calculated by this method and an attempt has been made to establish the sum to be invested during the fifteen years necessary for the launching of the programs scheduled. A table of timing for the investments groups the results obtained. Considering the fact that French availabilities in capital shall not be unlimited during the coming years, this way of presenting the results seems to be interesting. (author)Fren. [French] L'etude presentee comporte l'examen d'un certain nombre d'hypotheses de programmes de centrales nucleaires de types differents. Ces programmes correspondent a l'utilisation de tonnages d'uranium et de thorium de l'ordre de grandeur de ceux qui seront probablement produits par la France dans les quinze prochaines annees. Comme il est possible de batir un programme de centrales nucleaires, comportant a la fois plusieurs filieres suivant des variantes en nombre infini, on s'est contente d'examiner successivement les resultats ous si on utilisait exclusivement l
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.
Lister, M. J; Andreassen, A; Bales, Shanda; Biddle, J. G; Chang, M. M; McCormick, R; Packard, W. J; Sun, T
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...
Andryushchenko, A.I.; Larin, E.A.
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
Full Text Available To what extent do frequently cited determinants of military spending allow us to predict and forecast future levels of expenditure? The authors draw on the data and specifications of a recent model on military expenditure and assess the predictive power of its variables using in-sample predictions, out-of-sample forecasts and Bayesian model averaging. To this end, this paper provides guidelines for prediction exercises in general using these three techniques. More substantially, however, the findings emphasize that previous levels of military spending as well as a country’s institutional and economic characteristics particularly improve our ability to predict future levels of investment in the military. Variables pertaining to the international security environment also matter, but seem less important. In addition, the results highlight that the updated model, which drops weak predictors, is not only more parsimonious, but also slightly more accurate than the original specification.
Full Text Available The aim of this study was to determine the energy expenditure of a group of cavers of both genders and different ages and experience during a 10 hour subterranean exploration, using portable metabolimeters. The impact of caving activity on body composition and hydration were also assessed through bioelectrical impedance, and nutritional habits of cavers surveyed. During cave activity, measured total energy expenditure (TEE was in the range 225-287 kcal/h for women-men (MET = 4.1, respectively; subjects had an energy intake from food in the range 1000-1200 kcal, thus inadequate to restore lost calories. Bayesian statistical analysis estimated the effect of predictive variables on TEE, revealing that experienced subjects had a 5% lower TEE than the less skilled ones and that women required a comparatively larger energy expenditure than men to perform the same task. BIVA (bioelectrical impedance vector analysis showed that subjects were within the range of normal hydration before and after cave activity, but bioelectrical changes indicated a reduction of extracellular water in men, which might result in hypo-osmolal dehydration in the case of prolonged underground exercise. All these facts should be considered when planning cave explorations, preparing training programs for subjects practising caving, and optimizing a diet for cavers. Further, information gathered through this study could be of value to reduce accidents in caves related to increase in fatigue.
... 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,” ...
Bryan, Dick; Rafferty, Michael; Wigan, Duncan
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...
Hirukawa, Masayuki; Ueda, Masako
For the sample period of 1965-1992, Kortum and Lerner (2000) find that venture capital (VC) investments have a positive impact on patent count at industry level, and this impact is larger than that of R&D expenditures. We confirm that this positive impact continued to be present and became even stronger in late 90s during which VC industry experienced an unprecedented growth. We then proceed to study if this positive impact of VC is also present on productivity growth, which is a measure of i...
FOZIEH JEYHOON TABAR
Full Text Available ABSTRACT Using the annual data of Iran’s economy from 1981-2012, this study examines Wagner’s law and the Keynesian hypothesis about the relationship between the real government expenditure and the real GDP. In this regard, this paper investigated the relationship between the total government expenditure, the GDP and the relationship between government educational expenditure and GDP using bivariate and multivariate models. The multivariate model is used to reduce the specified error issues that has not been considered in many studies. The co-integration was examined using the auto regressive distributive lag method (ARDL of both long-term and short-term relationships. In making the estimations of the Wagner’s view, the variables: real GDP, capital stock and labor force stock respectively, had a positive, a negative, and a positive impact on total government expenditure and the long-term relationship is true in this regard. Additionally, in the estimation of Keynesian model, the educational expenditures, unlike real expenditures of government, had a long-term relationship. In addition, the variable, capital, in both models had a similar effect on the real GDP, and the labor force coefficient in the presence of the total expenditures and educational expenditures were negative and positive respectively.
Guidara, Rihab; Boujelbene, Younes
Research and development (R&D) investments reduce current-period earnings while the benefits associated with the investments occur in the future. This problem implies an earnings management tool to boost short-term performance. While there is much evidence regarding managerial discretion through R&D capitalization, empirical studies that directly examine managerial discretion through R&D expenditure adjusting have not been widely provided in the European context. This paper seeks ...
Guidara, Rihab; Boujelbene, Younes
Research and development (R&D) investments reduce current-period earnings while the benefits associated with the investments occur in the future. This problem implies an earnings management tool to boost short-term performance. While there is much evidence regarding managerial discretion through R&D capitalization, empirical studies that directly examine managerial discretion through R&D expenditure adjusting have not been widely provided in the European context. This ...
Fizaine, Florian; Court, Victor
We estimate energy expenditure for the US and world economies from 1850 to 2012. Periods of high energy expenditure relative to GDP (from 1850 to 1945), or spikes (1973–74 and 1978–79) are associated with low economic growth rates, and periods of low or falling energy expenditure are associated with high and rising economic growth rates (e.g. 1945–1973). Over the period 1960–2010 for which we have continuous year-to-year data for control variables (capital formation, population, and unemployment rate) we estimate that, statistically, in order to enjoy positive growth, the US economy cannot afford to spend more than 11% of its GDP on energy. Given the current energy intensity of the US economy, this translates in a minimum societal EROI of approximately 11:1 (or a maximum tolerable average price of energy of twice the current level). Granger tests consistently reveal a one way causality running from the level of energy expenditure (as a fraction of GDP) to economic growth in the US between 1960 and 2010. A coherent economic policy should be founded on improving net energy efficiency. This would yield a “double dividend”: increased societal EROI (through decreased energy intensity of capital investment), and decreased sensitivity to energy price volatility. - Highlights: •We estimate energy expenditures as a fraction of GDP for the US, the world (1850–2012), and the UK (1300–2008). •Statistically speaking, the US economy cannot afford to allocate more than 11% of its GDP to energy expenditures in order to have a positive growth rate. •This corresponds to a maximum tolerable average price of energy of twice the current level. •In the same way, US growth is only possible if its primary energy system has at least a minimum EROI of approximately 11:1.
Full Text Available This study examines the relationship between public expenditure within regional autonomy policy and economic growth in West Papua and Papua provinces. We distinguish two kinds of expenditure’s decentralization – operational and capital – and also private expenditures. We use an unbalanced panel data over the period of 2007-2010 to investigate those expenditures, whether they enhance regional economic growth or not. We find that the government’s operating and private expenditures have a positive effect on local economic growth, but there is no relationship between capital expenditure’s decentralization on economic growth. The findings did not conform to a-priori efficiency expectations, which suggest needing to reform regional autonomy and fiscal decentralization policy in both provinces.
Kevin A. Yelvington
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
This paper studies the effect of a change in the marginal costs of advertising on advertising expenditures of firms and consumer prices across industries. It makes use of a unique policy change that caused a decrease of the taxation on advertising expenditures in parts of Austria and a simultaneous increase in other parts. Advertising expenditures move immediately in the opposite direction to the marginal costs of advertising. Simultaneously the price reaction to advertising is negative in so...
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.
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.
... $2 billion in expenditures per year, DFAS itself is a sizable portion of the DoD infrastructure Second, we believe the pricing issues that DFAS confronts are similar to those faced by other Defense Working Capital Fund (DWCF...
Chor Foon TANG
Full Text Available A major macroeconomic policy in generating economic growth is to encourage investments on human capital such as health and education. This is because both health and education make significant contribution to increasing productivity of the labour force which ultimately exerts a positive effect on raising output levels. A question that arises is whether investments on health and education have a causal relationship and if so, what is the directional causality? The objective of this study is to examine the causal relationship between health and education expenditures in Malaysia. This study covered annual data from 1970 to 2007. Using Granger causality as well as Toda and Yamamoto MWALD causality approaches, this study suggests that education Granger-causes health expenditure in both the short run and long run. The findings of this study implied that the Malaysian society places preference on education expenditure rather than health. This preference is not unexpected as generally, an educated and knowledgeable society precedes a healthy one. Before a society has attained a relatively higher level of education, it is less aware of the importance of health. Thus, expenditure on education should lead expenditure on health.
Factory capital expenditure (capex) for photovoltaic (PV) module manufacturing strongly influences the per-unit cost of a c-Si module. This provides a significant opportunity to address the U.S. DOE SunShot module price target through capex innovation. Innovation options to reduce the capex of PV manufacturing include incremental and disruptive process innovation with c-Si, platform innovations, and financial approaches. and financial approaches.
Healthcare leaders should inventory and quantify the capital initiatives deemed critical for success under changing business models. Key considerations in planning such initiatives are opportunity costs and potential impact on productivity. Senior leaders also should create rolling five-year estimates of expenditures in addition to a one-year budget. Approaches to paying for such initiatives include borrowing from cash reserves, partnering to share cash and other resources, and developing new revenue sources derived from the initiatives themselves.
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...
Blake, M.W.; Brand, D.O.; Chastain, E.T.; Johnson, E.D.
In these times of increased spending to finance new capacity and to meet clean air act legislation, many electric utilities are giving a high priority to controlling capital expenditures at existing generating facilities. Determining the level of capital expenditures which are economically justified is very difficult; units which have higher capacity factors are worth more to the utility. Therefore, the utility can more readily justify higher capital expenditures to improve or maintain reliability and heat rate than on units with lower capacity factors. This paper describes a PC-based computer program (PREPS2) which performs an economic analysis of individual capital projects. The program incorporates tables which describe the worth to the system of making improvements in each unit. This computer program is currently being used by the six Southern Company operating companies to evaluate all production capital projects over $50,000. Approximately 500 projects representing about $300 million are being analyzed each year
Urbinati, Duccio; Rémuzat, Cécile; Kornfeld, Åsa; Vataire, Anne-Lise; Cetinsoy, Laurent; Aballéa, Samuel; Mzoughi, Olfa; Toumi, Mondher
, Germany (-€831 million), Greece (-€808 million), Portugal (-€243 million), and Hungary (-€84 million). The main source of savings came from the cardiovascular, central nervous system, and respiratory areas and from biosimilar entries. Oncology, immunology, and inflammation, in contrast, lead to additional expenditure. The model was particularly sensitive to the time to market of branded products, generic prices, generic penetration, and the distribution of biosimilars. The results of this forecast suggested a decrease in pharmaceutical expenditure in the studied period. The model was sensitive to pharmaceutical policy decisions.
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....
Ammar Ben Zaed
Full Text Available This article aims to analyze and interpret the phenomenon of increased public expenditures and test explanatory theories as well as to analyze Abstract the relationship between public spending and GDP in the short and long term where you see the Wagner hypothesis that causal heading of GDP to government spending while there is a causal relationship analysis positive trending of government spending to GDP according to the Keynesian hypothesis in this study will be used descriptive analytical method to validate these hypotheses. Results in the short and long term made it clear that there is a difference in the outcome of Applied Studies where we find that each supports a relationship Wagner in the sense that the causal trending of real GDP to government spending and more precisely to increase the economic growth lead to increased aggregate demand which leads in turn increasing the need to increase government spending and to increase the resources available to the government sector to finance the increase in spending by the additional resources resulting from the economic growth while others opines opposes the existence of the relationship.
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.)
Full Text Available Tax expenditures are an instrument frequently used when a government wishes to achieve certain economic and social effects. But because of the increasing number and scope of tax expenditures, their proper use, quality of administration and record-keeping have become a major challenge for the tax authorities and the whole of the government. The article considers and explains very diverse forms of tax expenditure such as reliefs, tax deductions, tax allowances, tax exceptions and special rates of taxation and the ways in which they are defined and calculated. The key problems in the analysis are the absence of a single definition and of methodology for the calculations; these ultimately make it impossible to compare tax expenditures between or among countries.
Aizenman, Joshua; Glick, Reuven
This paper clarifies one of the puzzling results of the economic growth literature: the impact of military expenditure is frequently found to be non-significant or negative, yet most countries spend a large fraction of their GDP on defense and the military. We start by empirical evaluation of the non- linear interactions between military expenditure, external threats, corruption, and other relevant controls. While growth falls with higher levels of military spending, given the values of the o...
Full Text Available After the peace bonus era, global military expenditures have escalated sharply despite some worldwide declines in military personnel. Theories on the economic impacts of the military institution and escalated military spending greatly differ and include arguments that they either improve domestic economic performance or crowd out growth-inducing processes. Empirical findings on this matter are inconclusive, in part due to a failure to disentangle the various dimensions of military expenditures. We further suggest that modern sociology's relative inattention to such issues has contributed to these shortcomings. We explore a new dimension of military spending that clarifies this issuemilitary expenditures per soldier which captures the capital intensiveness of a countrys military organization. Our cross-national panel regression and causal analyses of developed and less developed countries from 1990 to 2003 show that military expenditures per soldier inhibit the growth of per capita GDP, net of control variables, with the most pronounced effects in least developed countries. These expenditures inhibit national development in part by slowing the expansion of the labor force. Labor-intensive militaries may provide a pathway for upward mobility, but comparatively capital-intensive military organizations limit entry opportunities for unskilled and under- or unemployed people. Deep investments in military hardware also reduce the investment capital available for more economically productive opportunities. We also find that arms imports have a positive effect on economic growth, but only in less developed countries.
...; and (5) The savings association's ratio of core capital to total assets is not less than the ratio..., the leverage ratio requirement, or the tangible capital requirement established under this part, the... expenditures to specified levels; (9) Increase liquid assets and maintain such increased liquidity at specified...
Hodgson, V.L.; Hodgson, A.
This paper examines the financial effectiveness of marketing communication expenditure (MCE) as an instrument to increase risk-weighted capital. We nest a cross-sectional time-series panel model within the risk-adjusted earnings principles of Ohlson (1995), and apply the model to a dataset of NSW
... received a capitalization grant and, if the deposit was expended, it was expended in accordance with title... after it receives the payment, the RA may withhold future quarterly grant payments, and require... procedures regarding the commitment or expenditure of revenues. (h) State accounting and auditing procedures...
Howe, Edward T.
Financing school capital projects in New York State is a responsibility involving both local school districts and the state government. State building aid is provided through an aid ratio and approved expenditure formula. This formula has an equalizing effect among districts by explicitly providing an aid amount inversely proportional to property…
Nguyen-Hoang, Phuong; Yeung, Ryan
This study examines the effect of highway capital investments on highway fatalities. We used state-level data from the 48 contiguous states in the United States from 1968 through 2010 to estimate the effects on highway fatalities of capital expenditures and highway capital stock. We estimated these effects by controlling for a set of control variables together with state and year dummy variables and state-specific linear time trends. We found that capital expenditures and capital stock had significant and negative effects on highway fatalities. States faced with declines in gas tax revenues have already cut back drastically on spending on roads including on maintenance and capital outlay. If this trend continues, it may undermine traffic safety. While states and local governments are currently fiscally strained, it is important for them to continue investments in roadways to enhance traffic safety and, more significantly, to save lives. Copyright © 2014 National Safety Council and Elsevier Ltd. All rights reserved.
Martinetti, Alberto; Braaksma, Anne Johannes Jan; Ziggers, J.; van Dongen, Leonardus Adriana Maria; Redding, Louis; Roy, Rajkumar; Shaw, Andy
In the capital-intensive industry, maintenance expenditures can add up to several times the initial investment. In order to be competitive in their business, owners and users of these capital goods have to take into account the total life cycle cost at investment (e.g. the lifespan of a capital is
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.
Ledenyov, Dimitri O.; Ledenyov, Viktor O.
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...
Full Text Available This study investigates the role of budget expenditure composition over Azerbaijan’s non-oil economic growth in the long-run by classifying public spending as capital, social and other expenditures. Authors’ employ ARDLBT approach to co-integration for the period of 2000Q1-2014Q4 to estimate long-run contribution of each spending category before-and-after the oil boom while controlling for oilrelated factors. Empirical results endorse the validity of long-run association among variables. Results concluded insignificant negative impact of capital expenditures, and significant negative impact of other expenditures. However, social spending has statistically and economically strong positive impact over the non-oil output growth. Therefore, research findings confirm that public expenditure composition significantly matters for long-run non-oil economic growth, and social expenditures have the greater positive impact in a resource-rich economy, Azerbaijan. Research results are highly useful for the government officials to consider while planning the expenditures in order to minimize negative response of non-oil sector to the fiscal contraction.
U.S. Department of Health & Human Services — This dataset reports summary level expenditure data associated with the new adult group established under the Affordable Care Act. These state expenditures are...
C. Spechler, Martin; Ahrens, Joachim; Hoen, Herman W.
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.
Prakash Loungani; Paolo Mauro
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...
Batterham, Robert L.; Fraser, K.I.
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.
McConnell, C R
Although any decision to purchase a piece of capital equipment involves a number of the organization's functions, the department manager has some significant responsibilities in the selection and acquisition of capital equipment. Except for unavoidable replacement of essential equipment that fails unexpectedly, capital purchases must ordinarily be planned in advance through the annual budgeting process. The department manager is ordinarily the organization's primary source of information in major capital expenditure projects; therefore, it is essential that the manager follow a logical process for identifying and evaluating alternative equipment choices and perform a consistent economic analysis of the alternatives.
Full Text Available Increasing knowledge of people about health leads to raising the share of health expenditures in government budget continuously; although governors do not like this rise because of budget limitations. This study aimed to find the association between health expenditures and economic growth in ECO countries. We added health capital in Solow model and used the panel cointegration approach to show the importance of health expenditures in economic growth. For estimating the model, first we used Pesaran cross-sectional dependency test, after that we used Pesaran CADF unit root test, and then we used Westerlund panel cointegration test to show if there is a long-term association between variables or not. After that, we used chaw test, Breusch-Pagan test and Hausman test to find the form of the model. Finally, we used OLS estimator for panel data. Findings showed that there is a positive, strong association between health expenditures and economic growth in ECO countries. If governments increase investing in health, the total production of the country will be increased, so health expenditures are considered as an investing good. The effects of health expenditures in developing countries must be higher than those in developed countries. Such studies can help policy makers to make long-term decisions.
Hatam, Nahid; Tourani, Sogand; Homaie Rad, Enayatollah; Bastani, Peivand
Increasing knowledge of people about health leads to raising the share of health expenditures in government budget continuously; although governors do not like this rise because of budget limitations. This study aimed to find the association between health expenditures and economic growth in ECO countries. We added health capital in Solow model and used the panel cointegration approach to show the importance of health expenditures in economic growth. For estimating the model, first we used Pesaran cross-sectional dependency test, after that we used Pesaran CADF unit root test, and then we used Westerlund panel cointegration test to show if there is a long-term association between variables or not. After that, we used chaw test, Breusch-Pagan test and Hausman test to find the form of the model. Finally, we used OLS estimator for panel data. Findings showed that there is a positive, strong association between health expenditures and economic growth in ECO countries. If governments increase investing in health, the total production of the country will be increased, so health expenditures are considered as an investing good. The effects of health expenditures in developing countries must be higher than those in developed countries. Such studies can help policy makers to make long-term decisions.
... § 1.190-2(b) of this chapter). In the case of a partnership, the election shall be made by the partnership. The election applies to expenditures paid or incurred during the taxable year which (but for the election) are chargeable to capital account. (b) Limitation. The maximum deduction for a taxpayer...
In this paper a three-dimensional environmental defensive expenditures model with delay is considered. The model is based on the interactions among visitors V, quality of ecosystem goods E, and capital K, intended as accommodation and entertainment facilities, in Protected Areas (PAs). The tourism user fees (TUFs) are used partly as a defensive expenditure and partly to increase the capital stock. The stability and existence of Hopf bifurcation are investigated. It is that stability switches and Hopf bifurcation occurs when the delay t passes through a sequence of critical values, τ 0 . It has been that the introduction of a delay is a destabilizing process, in the sense that increasing the delay could cause the bio-economics to fluctuate. Formulas about the stability of bifurcating periodic solution and the direction of Hopf bifurcation are exhibited by applying the normal form theory and the center manifold theorem. Numerical simulations are given to illustrate the results.
HANNES OTTÓSSON; KIM KLYVER
Using data collected from 714 entrepreneurs in a random sample of 10,000 Danes, this study provides an investigation of the effect of human capital on social capital among entrepreneurs. Previous entrepreneurship research has extensively investigated the separated effect of human capital and social capital on different entrepreneurial outputs. The study takes a step back and investigates how these two capital concepts are related — specifically how human capital influences social capital. In ...
The Department of Labor is considering changing accounting rules to allow companies to treat training expenditures as investments rather than expenses. Human asset accounting could be a powerful incentive to increase business investment in training. (SK)
Andersen, Ida Gran; Jæger, Mads Meier
This paper analyzes the extent to which the effect of cultural capital on academic achievement varies across high- and low-achieving schooling environments. We distinguish three competing theoretical models: Cultural reproduction (cultural capital yields higher returns in high-achieving schooling...... to be higher in low-achieving schooling environments than in high-achieving ones. These results support the cultural mobility explanation and are in line with previous research suggesting that children from low-SES families benefit more from cultural capital than children from high-SES families....... environments than in low-achieving ones), cultural mobility (cultural capital yields higher returns in low-achieving environments), and cultural resources (cultural capital yields the same returns in different environments). We analyze PISA data from six countries and find that returns to cultural capital tend...
The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the United States. The price and expenditure estimates developed in the State Energy Price and Expenditure Data System (SEPEDS) are provided by energy source and economic sector and are published for the years 1970 through 1994. Consumption estimates used to calculate expenditures and the documentation for those estimates are taken from the State Energy Data Report 1994, Consumption Estimates (SEDR), published in October 1996. Expenditures are calculated by multiplying the price estimates by the consumption estimates, which are adjusted to remove process fuel; intermediate petroleum products; and other consumption that has no direct fuel costs, i.e., hydroelectric, geothermal, wind, solar, and photovoltaic energy sources. Documentation is included describing the development of price estimates, data sources, and calculation methods. 316 tabs.
The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the United States. The price and expenditure estimates developed in the State Energy Price and Expenditure Data System (SEPEDS) are provided by energy source and economic sector and are published for the years 1970 through 1994. Consumption estimates used to calculate expenditures and the documentation for those estimates are taken from the State Energy Data Report 1994, Consumption Estimates (SEDR), published in October 1996. Expenditures are calculated by multiplying the price estimates by the consumption estimates, which are adjusted to remove process fuel; intermediate petroleum products; and other consumption that has no direct fuel costs, i.e., hydroelectric, geothermal, wind, solar, and photovoltaic energy sources. Documentation is included describing the development of price estimates, data sources, and calculation methods. 316 tabs
The Handbook of Social Capital balances the ‘troika' of sociology, political science and economics by offering important contributions to the study of bonding and bridging social capital networks. This inter-disciplinary Handbook intends to serve as a bridge for students and scholars within all...... the social sciences. The contributors explore the different scientific approaches that are all needed if international research is to embrace both the bright and the more shadowy aspects of social capital....
Title: Modern Human Capital Management Seminar date: 30th of May 2008 Course: Master thesis in Business Administration, 15 ECTS Authors: Madita Feldberger Supervisor: Lars Svensson Keywords: Human capital, SWOT Analysis, Strategic Map, Balanced Scorecard Research Problem: Despite of the success of Human Capital Management (HCM) in research it did not arrive yet in the HR departments of many companies. Numerous firms even have problems to set their strategic goals with focus on HR. The HR Bala...
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.
The purpose of this supplement to the Household Energy Consumption and Expenditures 1990 report is to provide information on the use of energy in residential housing units, specifically at the four Census regions and nine Census division levels. This report includes household energy consumption, expenditures, and prices for natural gas, electricity, fuel oil, liquefied petroleum gas (LPG), and kerosene as well as household wood consumption. For national-level data, see the main report, Household Energy Consumption and Expenditures 1990
Department of Transportation — National Automated Capitalization Authorization Form used by ATO Engineering Services, Logistics, Accounting for the purpose of identifying and capturing FAA project...
Piketty’s Capital in Twenty-First Century has posed a totally new platform for the discussion of the economy and capitalism. Piketty has reinvented the classical political economy founded by Adam Smith in his 1776 Wealth of Nations. Piketty has shown via massive historical research how growth...... and inequality have developed since 1793. Piketty’s conclusion is that the French Revolution did not change the existing inequality either in the medium or in the long term. Piketty’s prediction is that a new form of global capitalism will arise, patrimonial capitalism, in which inequality will develop further...
Paldam, Martin; Svendsen, Gert Tinggaard
This report has two purposes: The first purpose is to present our 4-page questionnaire, which measures social capital. It is close to the main definitions of social capital and contains the most successful measures from the literature. Also it is easy to apply as discussed. The second purpose...... is to present the social capital database we have collected for 21 countries using the questionnaire. We do this by comparing the level of social capital in the countries covered. That is, the report compares the marginals from the 21 surveys....
McCarthy, Ellen E
...: To provide an agile, adaptive, integrated, and innovative defense intelligence workforce through a deliberate process identifying, implementing, and directing human capital organizational, doctrinal...
Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...
Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...
Department of Veterans Affairs — This report details VA expenditures at the state, county, and Congressional District level. It includes categories such as Compensation and Pension, Construction,...
The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the United States. The estimates are provided by energy source and economic sector. This report is an update of the State Energy Price and Expenditure Report 1989 published in September 1991. Energy price and expenditure estimates are published for the years 1970, 1975, 1980, and 1985 through 1990. Documentation follows the tables and describes how the price estimates are developed, including sources of data, methods of estimation, and conversion factors applied
Kinney, E D; Lefkowitz, B
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.
Full Text Available The purpose of the paper is to provide a prognosis of total public expenditure and types of expenditures, starting from the evolution in time of total public expenditure and spending on public services, defense, public order and safety, economic affairs, environmental protection, housing and community amenities, health, recreation, culture and religion, education and social protection.
Daigneau, William A.
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)
Sen, Rijurekha; Quercia, Daniele
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.
Schertler, A.G.; Tykvova, T.
Cross-border investments represent a substantial share of venture capital activities. We use a comprehensive dataset on investments worldwide to analyze the internationalization of venture capital financing. We postulate that cross-border activity is shaped by macroeconomic factors in the venture
Carbonell Boria, María José
Estado de la cuestión de los trabajos sobre la Capital Cursiva. Análisis de la misma y muestras de su existencia y uso en la cultura occidental, incluida España. The matter of the study of Italic Capital letters. Its analysis, samples, and use in Western cultur, including Spain.
Prieur, Annick; Skjøtt-Larsen, Jakob; Rosenlund, Lennart
Based on Danish survey data subjected to correspondence analysis, this article aims at carrying out a critical assessment of Pierre Bourdieu's theory of social differentiation in advanced societies as a multi-dimensional phenomenon. As his theory goes, capital volume (economic + cultural capital......) and capital composition (the relative weight of the two) are the main dimensions of social differentiation, which structure the space of social positions as well as the space of lifestyles. The central discussion of the article concerns the character of cultural capital, and the role it plays in the formation......, as those adhering to the preferences that are most typical for the cultural elite tend to simultaneously avoid or mark distance to popular expressions of taste. Fourth, are there traces of new forms of cultural capital? The study uncovers a cleavage between a global orientation or a form of cosmopolitanism...
Svendsen, Gert Tinggaard; Bjørnskov, Christian
How to construct a robust measure of social capital? This paper contains two contributions. The first is an attempt to establish a broad social capital measure based on four indicators, the Freedom House Index, an index of perceived corruption from Transparency International, and scores on civic...... participation and generalized trust. This measure is then applied by comparing the level of social capital in 25 countries from Western and Eastern Europe. Our nine cluster analysis shows that Switzerland has the highest score, followed by the Netherlands and Scandinavia. At the other end of the continuum we...... find post-communist countries and Southern Italy. The findings for this specific sample suggest that institutions matter for social capital and the relationship between decentralization and social capital emerges as a promising line of inquiry. Thus, the highest scoring countries in the sample may...
Li, Peter Ping; Redding, Gordon
This article provides an overview of social capital in Asia. Social capital is trust and appears in two main forms: relational, based on societal norms, and systemic, based on societal institutions. The relational encourages personalistic transactions; and systemic trust, supports more formal......, and usually larger, transactions backed by law. For economic development, the systemic form becomes crucial but needs to be compatible with relational norms. The dimensions of social capital are often dual in nature. This article employs a theory that accepts this and analyses the phenomena as yin......–yang balancing, seeing trust as a culturally determined enabler of social cooperation. The evolutions of trustworthiness in Japan, China, and the Philippines are analysed. This article contributes to the literature on varieties of capitalism and business systems as well as that on social capital. It raises...
Junqueira, Virgínia; Mendes, Áquilas N
This article examines some political and economic facts that led to an intensification of austerity measures by the Brazilian government, including ones against the Unified Health System (SUS) and its progressive dismantling. In a country where fundamental human rights were never fully respected, nowadays social and labor rights are under severe attacks. The deepening of the capital crisis and the rise of interest-bearing capital dominance have been causing unemployment, social insecurity growth, and resulting public fund appropriation by the private capital. The Brazilian governments in the 1990s and 2000s have implemented deeper cuts in social policy expenditure, freezing security benefits, privatizing services, and prioritizing the payment of public debt interests. The right wing's project involves the demoralization of not only the Workers' Party but also the left as a whole, so that the adoption of austerity measures could be achieved without popular resistance. It is the duty of the Brazilian left wing to denounce such a project and to provoke firm initiatives to rebuild its bonds with the working class.
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, for instance, 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 reasonble capital expenditure. From this point of departure, realistic considerations of safety and environmental protection can be made for future orientation. (orig.) [de
Buchowski, MS; Majchrzak, KM; Blomquist, K; Chen, KY; Byrne, DW; Bachorowski, J-A
Objective To measure energy expenditure (EE) and heart rate (HR) during genuine laughter. Design Experimental trial of viewing film clips in four cycles either intended to evoke laughter (humorous −10 min) or unlikely to elicit laughter (not humorous −5 min) under strictly controlled conditions of a whole-room indirect calorimeter equipped with audio recording system. Participants Forty five adult friend dyads in either same-sex male (n=7), same-sex female (n=21) and mix-sex male-female (n=17); age 18–34 years; body mass index 24.7±4.9 (range 17.9–41.1). Measurements Energy expenditure in a whole-room indirect calorimeter, HR using Polar HR monitor. Laugh rate, duration and type from digitized audio data using a computerized system and synchronized with HR and EE results. Results Laughter EE was 0.79±1.30 kJ/min (0.19±0.31 kcal/min) higher than resting EE (Plaughter segments increased above resting by 2.1±3.8 beats/min, ranging from −7.6 to 26.8 beats/min. Laughter EE was correlated with HR (rs=0.250, Plaughter EE and HR were positively correlated with laughter duration (rs=0.282 and 0.337, both Plaughter causes a 10–20% increase in EE and HR above resting values, which means that 10–15 min of laughter per day could increase total EE by 40–170 kJ (10–40 kcal). PMID:16652129
... OF HOMELAND SECURITY PREPAREDNESS NATIONAL EARTHQUAKE HAZARDS REDUCTION ASSISTANCE TO STATE AND LOCAL GOVERNMENTS Earthquake Hazards Reduction Assistance Program § 361.8 Ineligible expenditures. (a) Expenditures... for the purchase or rental of any equipment such as radio/telephone communications equipment, warning...
Catal, Cagatay; Akbulut, Akhan
Background and objective: It is crucial to predict the human energy expenditure in any sports activity and health science application accurately to investigate the impact of the activity. However, measurement of the real energy expenditure is not a trivial task and involves complex steps. The
Levy Douglas E
Full Text Available Abstract Background Children's exposure to secondhand smoke is associated with increased morbidity. We estimated Medicaid expenditures for children living with smokers compared to those living with no smokers in the United States. Methods Data were overall and service-specific (i.e., inpatient, ambulatory, emergency department, prescription drug, and dental annual Medicaid expenditures for children 0-11 years old from the 2000-2007 Medical Expenditures Panel Surveys. Smokers' presence in households was determined by adult respondents' self reports. There were 25,835 person-years of observation. We used multivariate analyses to adjust for child, parent, and geographic characteristics. Results Children with Medicaid expenditures were nearly twice as likely to live with a smoker as other children in the U.S. population. Adjusted analyses revealed no detectable differences in children's overall Medicaid expenditures by presence of smokers in the household. Medicaid children who lived with smokers on average had $10 (95% CI $3, $18 higher emergency department expenditures per year than those living with no smokers. Conclusions Living with at least one smoker (a proxy for secondhand smoke exposure is unrelated to children's overall short-term Medicaid expenditures, but has a modest impact on emergency department expenditures. Additional research is necessary to understand the relationship between secondhand smoke exposure and long-term health and economic outcomes.
The relationship between military expenditure and the stimulation of aggregate demand, inflation, investment, trade balance, foreign exchange, the improvement of taxation, and employment creation and industrialization in the Third World is analyzed. To some extent military expenditure does promote economic growth, but it does not automatically…
The empirical part of the result shows that there is unidirectional relationship between education and economic growth with causality running from education expenditure to economic growth. The result therefore suggests that policy makers should boost expenditure on education as it will further improve economic growth in ...
The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates for the 50 States, the District of Columbia, and the United States. The estimates are provided by energy source (e.g., petroleum, natural gas, coal, and electricity) and by major consuming or economic sector. This report is an update of the State Energy Price and Expenditure Report 1988 published in September 1990. Changes from the last report are summarized in a section of the documentation. Energy price and expenditure estimates are published for the years 1970, 1975, 1980, and 1985 through 1989. Documentation follows the tables and describes how the price estimates are developed, including sources of data, methods of estimation, and conversion factors applied. Consumption estimates used to calculate expenditures, and the documentation for those estimates, are from the State Energy Data Report, Consumption Estimates, 1960--1989 (SEDR), published in May 1991. Expenditures are calculated by multiplying the price estimates by the consumption estimates, adjusted to remove process fuel and intermediate product consumption. All expenditures are consumer expenditures, that is, they represent estimates of money directly spent by consumers to purchase energy, generally including taxes. 11 figs., 43 tabs
The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates for the 50 States, the District of Columbia, and the United States. The estimates are provided by energy source (e.g., petroleum, natural gas, coal, and electricity) and by major consuming or economic sector. This report is an update of the State Energy Price and Expenditure Report 1988 published in September 1990. Changes from the last report are summarized in a section of the documentation. Energy price and expenditure estimates are published for the years 1970, 1975, 1980, and 1985 through 1989. Documentation follows the tables and describes how the price estimates are developed, including sources of data, methods of estimation, and conversion factors applied. Consumption estimates used to calculate expenditures, and the documentation for those estimates, are from the State Energy Data Report, Consumption Estimates, 1960--1989 (SEDR), published in May 1991. Expenditures are calculated by multiplying the price estimates by the consumption estimates, adjusted to remove process fuel and intermediate product consumption. All expenditures are consumer expenditures, that is, they represent estimates of money directly spent by consumers to purchase energy, generally including taxes. 11 figs., 43 tabs.
Liu, Meng; Wang, Guirong; Wang, Huijun
Consumption expenditure of rural residents can be divided into eight types of indices, such as food consumption expenditure, clothing consumption expenditure, household equipment and service consumption expenditure, health care consumption expenditure, transportation and communication consumption expenditure, cultural and educational entertainment and service consumption expenditure, housing consumption expenditure, and other goods and services consumption expenditure. Changes in structures o...
The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the US. The estimates developed in the State Energy Price and Expenditure Data System (SEPEDS) are provided by energy source and economic sector and are published for the years 1970 through 1995. Data for all years are available on a CD-ROM and via Internet. Consumption estimates used to calculate expenditures and the documentation for those estimates are taken from the State Energy Data Report 1995, Consumption Estimates (SEDR), published in December 1997. Expenditures are calculated by multiplying the price estimates by the consumption estimates, which are adjusted to remove process fuel; intermediate petroleum products; and other consumption that has no direct fuel costs, i.e., hydroelectric, geothermal, wind, solar, and photovoltaic energy sources.
Bender, Alex C; Austin, Andrea M; Grodstein, Francine; Bynum, Julie P W
We examined the relationship between health care expenditures and cognition, focusing on differences across cognitive systems defined by global cognition, executive function, or episodic memory. We used linear regression models to compare annual health expenditures by cognitive status in 8125 Nurses' Health Study participants who completed a cognitive battery and were enrolled in Medicare parts A and B. Adjusting for demographics and comorbidity, executive impairment was associated with higher total annual expenditures of $1488 per person (P episodic memory impairment was found. Expenditures exhibited a linear relationship with executive function, but not episodic memory ($584 higher for every 1 standard deviation decrement in executive function; P < .01). Impairment in executive function is specifically and linearly associated with higher health care expenditures. Focusing on management strategies that address early losses in executive function may be effective in reducing costly services. Copyright © 2017 the Alzheimer's Association. Published by Elsevier Inc. All rights reserved.
Yuxiang, Karl; Chen, Zhongchang
The recent economic stimulus package of China has raised growing concern about its potential impact on energy demand and efficiency. To what extent does such expansion of government expenditure influence energy intensity? This question has not been well answered by the previous research. Using provincial panel data, this paper provides some evidence of a link between government expenditure and energy intensity in China. The empirical results demonstrate that the expansion of government expenditure since Asian financial crisis has exerted a significant influence on energy intensity. An increase in government expenditure in China leads to an increase in energy intensity. Further analysis compares such relationships in different economic situations. The comparison shows that such positive effect of government expenditure remains significant after the alteration in economic situation. Therefore, the results suggest introducing some measures to consolidate China's existing gains in energy efficiency. The analysis also explains why the downward trend in energy intensity is reversed in China since 2002. (author)
Chen, Jie; Vargas-Bustamante, Arturo; Ortega, Alexander N
Using two nationally representative data sets, this study examined health care expenditure disparities between Caucasians and different Asian American subgroups. Multivariate analyses demonstrate that Asian Americans, as a group, have significantly lower total expenditures compared with Caucasians. Results also point to considerable heterogeneities in health care spending within Asian American subgroups. Findings suggest that language assistance programs would be effective in reducing disparities among Caucasians and Asian American subgroups with the exception of Indians and Filipinos, who tend to be more proficient in English. Results also indicate that citizenship and nativity were major factors associated with expenditure disparities. Socioeconomic status, however, could not explain expenditure disparities. Results also show that Asian Americans have lower physician and pharmaceutical costs but not emergency department or hospital expenditures. These findings suggest the need for culturally competent policies specific to Asian American subgroups and the necessity to encourage cost-effective treatments among Asian Americans.
Claessens, Stijn; Naude, David
Researchers and policymakers have in recent years paid considerable attention to the phenomenon of capital flight. Researchers have focused on four questions: What concept should be used to measure capital flight? What figure for capital flight will emerge, using this measure? Can the occurrence and magnitude of capital flight be explained by certain (economic) variables? What policy changes can be useful to reverse capital flight? The authors focus strictly on presenting estimates of capital...
This report draws on limited, available data to analyze selected economic, and social issues, which include better understanding of poverty, and inequality in relation to real income, and, improving the allocation of social expenditures, while increasing the effectiveness of social programs. The deterioration of social, and human capital should be prevented, by simultaneously promoting its ...
Frankford, David M
Competition cannot stem the rise of health care expenditures because it leaves agency diffuse and transferred in part to the institutions of advanced capitalism, which excel in generating demand for their services. The United States should turn to state rate setting to concentrate purchasing power.
Purpose: The purpose of this paper is to examine the pattern of outward foreign direct investment (FDI) by Irish MNCs, and more specifically, to investigate their approach to human capital development and how these correspond to foreign MNCs in Ireland. In particular, it seeks to investigate training and development expenditure, adoption of…
McConnell, Charles R
As part of his or her role in preparing a departmental budget, a manager must often become involved in budgeting for capital expenditures, those purchases that are of a type and sufficient dollar value to be capitalized and depreciated. Depending on the value of a proposed purchase, the department manager may have only a partial voice in the process; some significant purchases will require administrative approval, whereas some major acquisitions will require approval by the board of directors. Planning for possible capital purchases should begin well before the start of the annual budget exercise. Listing a capital item in the department's budget request does not imply approval; often, there are many more "needs" than there are capital funds available. Therefore, there must be a consistent process for identifying the proposed purchases that will be funded, such process necessarily including detailed specification of the need for a particular capital purchase, identification of all reasonable alternatives, consideration of any constraints, detailed financial comparison of alternatives, assessment of intangible factors, and a recommended choice.
Albertina, R M; Bakewell, T F
The maturing of multi-institutional healthcare systems has created a need for systemwide approaches to managing investment in capital expenditures. Historically, hospitals have allocated capital using traditional capital budgeting techniques, including discounted cash flow, net present value, and internal rate of return methodologies. Now systems can use a multifactored model to allocate capital among member hospitals. This approach uses historical and projected financial and statistical information to quantify the risks member hospitals face. At the system level, capital allocation decisions should start with the strategic and financial planning processes. Catholic systems face an additional caveat: The system's mission statement drives the planning processes. Conceptually, the capital allocation plan is an attempt to value each hospital as a going, or viable, concern. From this perspective, value is understood as a function of expected return, the certainty of the return, and the return offered by similar investments in other hospital markets. Despite the many determinants of business and financial risk, much of the variance in asset market value can be explained through five assessment criteria: market demographics, position within the market, historical and projected financial performance, historical utilization, and third-party reimbursement mix.
Full Text Available Abstract Objective To measure energy expenditure of acutely ill elderly patients in hospital and following discharge in the community. Design Sixty-three consecutive hospitalised acutely ill elderly patients were recruited. Eight patients were studied to assess the reliability of the Delta Tract Machine as a measure of energy expenditure; 35 patients had their energy expenditure studied in hospital on two occasions and 20 patients had their energy expenditure measured in hospital and at 6 weeks in the community Results Men had higher basal energy expenditure (BMR values compared to women however the difference was not statistically significant [Men, mean (SD 1405 (321 Kcal, women 1238 (322 kcal; mean difference (95% CI 166 kcal (-17 to 531, p = 0.075]. After adjusting for age, gender and body mass index both medication and C-reactive protein (CRP, concentrations showed significant correlation with measured energy expenditure in hospital, (r = -0.36, "p Conclusion Tissue inflammation and medications were associated with change in measured energy expenditure in acutely ill patients.
This paper aims to offer a framework of interpreting the “evolution” of capitalism that is reaching every corner of the world and has achieved greater legitimacy than at any time in human history. It covers an interdisciplinary discussion on the development of market capitalism that has been...... characterized by a dual process: unanticipated origin (cultural and historical) and anticipated progress (political economy). The point of departure of this paper is that although the advancement of market capitalism is a process of societal development involving historical, cultural and religious causes...... (historical, divine, spiritual, miraculous), the establishment of capitalism is less the result of a force for cultural and economic dynamism than the realization of a political project. In other words, from being an enterprise within defined geographical boundaries to becoming a global project is first...
problems, but serve to further highlight the difficulties of changing capitalism towards sustainability. In a profit-oriented economy, capital accumulation is a prime driving force, and non-growth for the economy at large tends to result in serious economic and social crises. On the other hand, a de...... according to which the powers and mechanisms of the natural world are considered totally controllable by humans as if they were mere epiphenomena of the human world. On the other hand, the assumptions of certain ecological economists about the possibility of steady-state capitalism disregard the relation...... between capital and surplus value, which constitutes a strong mechanism driving the capitalist economy toward limitless growth....
Public works capital projects in the U,S, naval forces are not prioritized and funded in a way that best uses limited operations resources and maintenance dollars, This thesis develops a linear model...
Full Text Available The purpose of this study is to confront certain propositions presented in Lesław Niemczyk’s publication Rachunkowość finansowa aktywów kompetencyjnych i kapitału intelektualnego. Nowy dział rachunkowości(Accounting for Competence Assets and Intellectual Capital. A New Area in Accounting with ideas published in other studies. The authors discuss issues concerning firm value, selected definitions of intellectual capital, as well as certain methods of intellectual capital measurement and valuation. Other problems analysed include accounting for and reporting of intellectual capital and similarities and differences between the way those issues are presented in Polish and in international studies as well as in existing legal regulations and standards.
General Services Administration — Capital Projects application (CPA) provides users with the ability to maintain project related financial data for Budget Activity (BA) 51, 55, 64, 01, 02, 03, 04....
Stojchev, D.; Kynev, K.
Technical and economical problems of marginal analysis methodology, its application procedure in energy sector and marginal expenditures determination are outlined. A comparative characteristics of the application is made for different periods of time. The differences in calculation of the marginal expenditures and prices are discussed. The operational costs, investments and inflation are analyzed. The mechanism of application of this approach in different planing horizon is outlined. The role of the change in the costs in time, the time unit, volume, the scope of application, etc. are determined. The areas of transition from one to other form of marginal expenditures are shown. 4 refs. (orig.)
This report, Household Energy Consumption and Expenditures 1990, is based upon data from the 1990 Residential Energy Consumption Survey (RECS). Focusing on energy end-use consumption and expenditures of households, the 1990 RECS is the eighth in a series conducted since 1978 by the Energy Information Administration (EIA). Over 5,000 households were surveyed, providing information on their housing units, housing characteristics, energy consumption and expenditures, stock of energy-consuming appliances, and energy-related behavior. The information provided represents the characteristics and energy consumption of 94 million households nationwide
Adenike Mosunmola Osoba
Full Text Available Various studies have focused on the relationship between human capital and economic growth all over the world. However, there is still a missing gap on the joint influence of human capital investment components on economic growth particularly in Nigeria. This study therefore examines the interactive effects of the relationship between human capital investment components and economic growth in Nigeria for the period of 1986 – 2014. The study employed secondary annual data on education expenditure, health expenditure, real gross domestic product and gross capital formation obtained from the Central Bank Statistical bulletin, 2014. The data were analyzed using Fully Modified Ordinary Least Squares (FMOLS technique. The results of the study showed that there was positive and significant relationship between the interactive effects of human capital components and growth in Nigeria. The study concluded that the interactive effect of the human capital variables was also in conformity with the theoretical proposition that increase in human capital will enhance growth as stipulated in the modified Solow growth model by Mankiw, Romer & Weil (1992.
NAVFAC Southwest Dan Waid Program & Business Mgmt NAVFAC SW Capital Improvements Business Line NAVFAC SW 8 August 2012 1 Report...REPORT TYPE 3. DATES COVERED 00-00-2012 to 00-00-2012 4. TITLE AND SUBTITLE Capital Improvements Business Line 5a. CONTRACT NUMBER 5b. GRANT...AVAILABILITY STATEMENT Approved for public release; distribution unlimited 13. SUPPLEMENTARY NOTES Presented at the 2012 Navy Gold Coast Small Business
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.
Lorz, Jens Oliver
This paper analyzes the impact of international capital mobility on redistributive capital taxation and on lobbying activities by interest groups. It employs a model where different capital endowments lead to a conflict between households concerning their most preferred capital tax rate. Three main results are derived: First, redistributive source based capital taxes or subsidies decline as international tax competition intensifies. Second, lobbying activities of certain interest groups may e...
Bongaerts, D.; Charlier, E.
Regulatory Capital requirements for European banks have been put forward in the Basel II Capital Framework and subsequently in the Capital Requirements Directive (CRD) of the EU. We provide a detailed discussion of the capital requirements for private equity investments under the simple risk weight
... capital and reserve requirements to be issued by order or regulation with respect to a product or activity... minimum capital requirements. Section 1362(a) establishes a minimum capital level for the Enterprises... entities required under this section.\\6\\ \\3\\ The Bank Act's current minimum capital requirements apply to...
Full Text Available The focus of the paper is on how public spending volume, composition (current versus capital and quality are linked to economic growth in lower-income countries that are members of a monetary union. We specifically investigate the case of the West Africa Economic and Monetary Union (WAEMU countries, which have fluctuating growth rates and relatively low-income levels compared to other parts of the world. The empirical analysis covers the period 2000-2013. The results indicate that total public spending has a significant impact on growth. While the impact of the capital component is positive and statistically significant, the effect of the current component tends to be negative, but not significant. When the capital component is further split into two: public fixed capital investment and public other capital expenditures, defined as total public capital expenditure minus public fixed capital investment, the results show that not only physical capital formation but also human capital spending is important for growth. While the volatility measure for public investment has a clear negative and statistically significant impact on growth, the quality of public fixed investment has a positive impact. The findings also indicate that fiscal deficits have not been an important constraint to the effectiveness of government spending on growth, reflecting the fiscal discipline achieved in the union. On the other hand, the debt-to-GDP ratio clearly shows a significant negative impact on growth, indicating the risk associated with debt distress. Total fiscal revenue has a significant and positive effect on growth, most likely indicating relatively low levels of fiscal revenues to GDP ratios, partially boosted by natural resources, coupled with grants. In each regression specification, it is observed that the contributions of both trade openness and private investment on growth are positive and significant. The results also indicate that the quality of
Shayegheh Ashourizadeh, Shayegheh; Rezaei, Shahamak; Schøtt, Thomas
Abstract: It is widely acknowledged that entrepreneurs’ human capital in form of education and social capital in form of networking are mutually beneficial and also that both human and social capital benefit their performance. Here, the hypothesis is that human and social capital, in combination......, provide added value and jointly add a further boost to performance, specifically if the form of exporting. Global Entrepreneurship Monitor provides data on 52,946 entrepreneurs, who reported on exporting and networking for advice. Hierarchical linear modelling shows that human capital promotes social...... capital, that human capital and social capital (specifically networking in the international environment, work-place, professions and market, but not in the private sphere) both benefit export directly and that human capital amplifies the benefit of social capital, especially through international...
Murthy, Vijaya; Mouritsen, Jan
Purpose – This paper aims to analyse the relationship between intellectual capital and financial capital using a case study. This makes it possible to discuss how intellectual capital is related to value creation with a degree of nuance that is absent from most statistical studies of relationships...... between human, organisational, relational and financial capital. Design/methodology/approach – The paper uses a case study of a firm that invests in intellectual capital in order to develop financial capital. It traces the relationship between intellectual capital elements and financial capital via...... interviews. This allows the development of a nuanced account of the performance of intellectual capital. This account questions the universality of the linear model typically found in statistical studies. The model makes it possible to show how items of intellectual capital not only interact but also compete...
National Oceanic and Atmospheric Administration, Department of Commerce — A series of expenditure surveys have been done both regionally and nationally. This data pertains to the Northeast U.S. states that was collected in 1998....
Teske, J A; Billington, C J; Kotz, C M
The hypocretins or orexins are endogenous neuropeptides synthesized in discrete lateral, perifornical and dorsal hypothalamic neurones. These multi-functional neuropeptides modulate energy homeostasis, arousal, stress, reward, reproduction and cardiovascular function. This review summarizes the role of hypocretins in modulating non-sleep-related energy expenditure with specific focus on the augmentation of whole body energy expenditure as well as hypocretin-induced physical activity and sympathetic outflow. We compare the efficacy of hypocretin-1 and 2 on energy expenditure and evaluate whether the literature implicates hypocretin signalling though the hypocretin-1 and -2 receptor as having shared and or functionally specific physiological effects. Thus far data suggest that hypocretin-1 has a more robust stimulatory effect relative to hypocretin-2. Furthermore, hypocretin-1 receptor predominantly mediates behaviours known to influence energy expenditure. Further studies on the hypocretin-2 receptor are needed.
National Oceanic and Atmospheric Administration, Department of Commerce — Angler expenditures for their most recent trip in 2006, by fishing mode - for-hire, private boat, shore. Includes categories such as bait, ice, fuel, lodging, meals,...
poverty and government expenditure on growth strategies that have been implemented in Tanzania since the mid 2000s. The paper shows that despite impressive economic growth of about 6 percent per annum that the country has enjoyed in ...
U.S. Department of Health & Human Services — Modeling Per Capita State Health Expenditure Variation State-Level Characteristics Matter, published in Volume 3, Issue 4, of the Medicare and Medicaid Research...
government expenditure within the framework of the Ethiopian Economy. This was done with the view that .... macroeconomic stability and current account balance. The need for efficient ... instability, boarder conflict and civil war. The revenue ...
Beja, Edsel Jr.
Capital flight aggravates resource constraints and contributes to undermine long-term economic growth. Counterfactual calculations on the Philippines suggest that capital flight contributed to lower the quality of long-term economic growth. Sustained capital flight over three decades means that capital flight had a role for the Philippines to lose the opportunities to achieve economic takeoff. Unless decisive policy actions are taken up to address enduring capital flight and manage the macroe...
Vataire, Anne-Lise; Cetinsoy, Laurent; Aball?a, Samuel; R?muzat, C?cile; Urbinati, Duccio; Kornfeld, ?sa; Mzoughi, Olfa; Toumi, Mondher
Background and objective: The value appreciation of new drugs across countries today features a disruption that is making the historical data that are used for forecasting pharmaceutical expenditure poorly reliable. Forecasting methods rarely addressed uncertainty. The objective of this project was to propose a methodology to perform pharmaceutical expenditure forecasting that integrates expected policy changes and uncertainty (developed for the European Commission as the ‘EU Pharmaceutical e...
... Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital..., 2013, a document adopting a final rule that revises its risk-based and leverage capital requirements... risk-based and leverage capital requirements for banking organizations. An allowance for additional...
Yarossi, M.E. (IPA Institute, The Hague (Netherlands))
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
Petrini, Giancarlo; Fonseca, Ricardo; Porreca, Wladimir
O presente estudo investiga a pobreza partindo de uma análise dos recursos que os pobres dispõem em sua realidade, analisando os temas do capital humano, social e familiar, procurando estabelecer conexões e elucidar fatores da realidade pouco considerados em estudos e projetos de combate à pobreza e à exclusão social. O presente artigo, em seu conjunto, procura compreender porque, em condições semelhantes de pobreza, algumas pessoas conseguem elaborar um projeto de vida enquanto outras se es...
... 42 Public Health 2 2010-10-01 2010-10-01 false Monitoring expenditure level. 403.754 Section 403..., Conditions of Participation, and Payment § 403.754 Monitoring expenditure level. (a) Tracking expenditures... between the trigger level and Medicare expenditures for a FFY results in a carry forward that either...
Rocha, Katia; Camacho, Fernando; Braganca, Gabriel
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
The radiology business manager in today's environment must become proficient in contract evaluations and negotiations. Health care is focusing on preventive medicine. Third-party payers are offering plans and programs to provide ''well-patient'' care. For prepaid (HMO-IPA-PTO) plans to succeed, demands for reduced fees and other entrepreneurial contractual arrangements are developed. This presentation will focus on specific items contained in most contracts. The issues of withhold, billing procedures, prompt-payment rewards, medical liability, capitation determinations, and modified capitation plans will be discussed. It is the intent of this presentation to share with the audience methods of evaluating contracts, the importance of negotiating specific terms, and an approach to determination of capitation amounts
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.
Hougaard, Jens Leth; Smilgins, Aleksandrs
Risk capital allocation problems have been widely discussed in the academic literature. We consider a company with multiple subunits having individual portfolios. Hence, when portfolios of subunits are merged, a diversification benefit arises: the risk of the company as a whole is smaller than...... the sum of the risks of the individual sub-units. The question is how to allocate the risk capital of the company among the subunits in a fair way. In this paper we propose to use the Lorenz set as an allocation method. We show that the Lorenz set is operational and coherent. Moreover, we propose a set...... of new axioms related directly to the problem of risk capital allocation and show that the Lorenz set satisfies these new axioms in contrast to other well-known coherent methods. Finally, we discuss how to deal with non-uniqueness of the Lorenz set....
N. A. Serebryakova
Full Text Available The development of a modern economy, increasing its competitiveness is impossible without the accumulation and development of human capital, since the foundation of the transformation of the economic system into an innovation economy is human capital. In this regard, the level of development and effectiveness of the use of human capital is of paramount importance. In this study, an attempt is made to assess the effectiveness of the use of human capital for its contribution to the economy of the country. The authors emphasize that the modern economy makes new demands on workers, therefore it is necessary to constantly accumulate human capital, its development through continuous training, which will allow the domestic economy to exit on the trajectory of sustainable economic growth. The need to create conditions for a comprehensive increase in the level of development of human capital was stressed. The authors propose an author's approach to assess the level of development and efficiency of the use of human capital on the basis of indicators: the index of labor productivity, the share of high-technology and knowledge-intensive industries in GDP, the increase in the number of high-productivity jobs, the innovative activity of organizations, the share of domestic expenditure on research and development in GDP, the coefficient of inventive activity. The article presents the results of the study of human capital in the Russian Federation. The role of human capital in the economic development of the country has been studied and justified. Key indicators of the effectiveness of the use of human capital are analyzed. Trends in the development of human capital in the Russian Federation for 2011–2016 are shown. The analysis of the results of the assessment will reveal problems in the formation and use of human capital and determine the main directions and necessary conditions for increasing the contribution of human capital to the economy.
Canikalp, Ebru; Unlukaplan, Ilter
A view prominently expounded is that the interaction between the composition and the volume of public expenditures is directly affected by political, institutional, psephological and ideological indicators. A crucial component of public expenditures, social expenditures play an important role in the economy as they directly and indirectly affect the distribution of income and wealth. Social expenditures aim at reallocating income and wealth unequal distribution. These expenditures comprise ca...
Swift, Zhicheng Li
Tax expenditures, in the form of tax provisions, are government expenditures. They are conceptually and functionally distinct from those tax provisions whose purpose is to raise revenue. Tax expenditure programs are comparable to entitlement programs. Therefore, tax expenditures must be analyzed in spending terms and integrated into the budgetary process to ensure fiscal accountability. In addition, tax expenditures must be audited for performance and the information must be published (with c...
Swift, Zhicheng Li
Tax expenditures, in the form of tax provisions, are government expenditures. They are conceptually and functionally distinct from those tax provisions whose purpose is to raise revenue. Tax expenditure programs are comparable to entitlement programs. Therefore, tax expenditures must be analyzed in spending terms and integrated into the budgetary process to ensure fiscal accountability. In addition, tax expenditures must be audited for performance and the information must be published (with c...
In 2013, households, private corporations and general government spent Euro 47.2 billion for environmental protection, an increase of 1.8% over 2012. For the 2000-2013 period on the whole, this expenditure has been rising faster than the gross domestic product (GDP): +4% on an annual average for the environmental protection expenditure compared with +2.8% for the GDP. In connection with the growing environmental concerns of society, public policy contributed to this steady increase through economic incentives ('bonus/malus' system, for instance) and regulation. In particular, the latter led to a technical improvement of processes (selective collection of waste, bringing up to standard of water treatment plants) which participated in the growth of expenditure. Wastewater and waste managements are the two main environmental protection expenditure domains. Furthermore, they are connected with topics related to resource management: drinking water supply and materials recovery. However, the expenditure for the materials recovery sector is decreasing in 2013, due to declines in raw materials prices. Expenditure for renewable energies - another topic related to environment - is considerably growing in 2013. Electricity production notably from water power is rising sharply, as a result of a particularly rainy spring. Nevertheless, the growth of environmental expenditures does not impact the corresponding employment in a systematic way. Thus, even if value added of the environmental goods and services sector (EGSS) increased by 1.8% in 2013, employment decreased by 0.3%. And the labor market in the green economy has been in decay since 2011, at a practically similar rate as for the economy as a whole
Buchmueller, Thomas C; Johar, Meliyanni
Rising rates of obesity are a public health concern in every industrialized country. This study investigates the relationship between obesity and health care expenditure in Australia, where the rate of obesity has tripled in the last three decades. Now one in four Australians is considered obese, defined as having a body mass index (BMI, kg/m(2)) of 30 or over. The analysis is based on a random sample survey of over 240,000 adults aged 45 and over that is linked at the individual-level to comprehensive administrative health care claims for the period 2006-2009. This sub-population group has an obesity rate that is nearly 30% and is a major consumer of health services. Relative to the average annual health expenditures of those with normal weight, we find that the health expenditures of those with a BMI between 30 and 35 (obese type I) are 19% higher and expenditures of those with BMI greater than 35 (obese type II/III) are 51% higher. We find large and significant differences in all types of care: inpatient, emergency department, outpatient and prescription drugs. The obesity-related health expenditures are higher for obese type I women than men, but in the obese type II/III state, obesity-related expenditures are higher for men. When we stratify further by age groups, we find that obesity has the largest impact among men over age 75 and women aged 60-74 years old. In addition, we find that obesity impacts health expenditures not only through its link to chronic diseases, but also because it increases the cost of recovery from acute health shocks. Copyright © 2015 Elsevier B.V. All rights reserved.
Prieur, Annick; Savage, Mike
This paper considers how the analysis of cultural engagement can be elaborated through a reworking of the concept of cultural capital, as originally derived from Bourdieu’s (1984) Distinction. Drawing on detailed studies of the UK and Aalborg, Denmark, we show that despite the weakening of ‘‘high......This paper considers how the analysis of cultural engagement can be elaborated through a reworking of the concept of cultural capital, as originally derived from Bourdieu’s (1984) Distinction. Drawing on detailed studies of the UK and Aalborg, Denmark, we show that despite the weakening...
Luiz Carlos Bresser-Pereira
Full Text Available Besides analyzing capitalist societies historically and thinking of them in terms of phases or stages, we may compare different models or varieties of capitalism. In this paper I survey the literature on this subject, and distinguish the classification that has a production or business approach from those that use a mainly political criterion. I identify five forms of capitalism: among the rich countries, the liberal democratic or Anglo-Saxon model, the social or European model, and the endogenous social integration or Japanese model; among developing countries, I distinguish the Asian developmental model from the liberal-dependent model that characterizes most other developing countries, including Brazil.
Dietrich, J. Kimball; Wihlborg, Clas
We investigate the effect of changes in capital regulation on the strictness(leniency) of loan terms using a simple model of bank capital requirements andasset quality examinations. Banks offer different levels of `leniency' in the senseof willingness to offer automatic extensions of loans...... rates. As capital requirements increase thedifference between initial capital levels and between interest rates of strict andlenient banks decrease. Thus, higher capital requirements in recessions tend toreduce the interest rate premium paid for leniency. If a recession is interpreted asan increase...... in the required return, the interest rate premium paid for leniency isincreased in recession at a given level of required capital....
... begins an active trade or business, an amount equal to the lesser of (1) the amount of the start-up... begins. All start-up expenditures that relate to the active trade or business are considered in... active trade or business to which the expenditures relate begins. The election either to amortize start...
Vladimir Cvijanovic; Denis Redzepagic
The paper analyses the typology of capitalism in Croatia. The Croatian form of capitalism is specific, in form and origin, with links between the pre-independence and post-independence periods, implying that capitalism has gradually evolved – from the political during the eighties towards current clientelistic capitalism. The manufacturing focus aims to facilitate the analysis of institutional, political and economic changes over the past forty years, emphasising the implications of instituti...
Runkle, Q.; Haines, T.; Piper, K.; Leach, S.
To assess and evaluate the impact of the Green Capital: Student Capital project, the partnership (the University of the West of England, the University of Bristol, the Students’ Union at UWE, and Bristol Students’ Union) worked with NUS to train a team of students from both universities to lead an evaluation process. There were two key aims for the evaluation: \\ud \\ud • To verify the quantitative outputs of the Green Capital: Student Capital project; \\ud • And to make a qualitative assessment...
Cascaes, Andreia Morales; de Camargo, Maria Beatriz Junqueira; de Castilhos, Eduardo Dickie; Silva, lexandre Emídio Ribeiro; Barros, Aluísio J D
ABSTRACT OBJECTIVE To quantify the household expenditure per capita and to estimate the percentage of Brazilian households that have spent with dental insurance. METHODS We analyzed data from 55,970 households that participated in the research Pesquisa de Orçamentos Familiares in 2008–2009. We have analyzed the annual household expenditure per capita with dental insurance (business and private) according to the Brazilian states and the socioeconomic and demographic characteristics of the households (sex, age, race, and educational level of the head of the household, family income, and presence of an older adult in the household). RESULTS Only 2.5% of Brazilian households have reported spending on dental insurance. The amount spent per capita amounted to R$5.10 on average, most of which consisted of private dental insurance (R$4.70). Among the characteristics of the household, higher educational level and income were associated with higher spending. São Paulo was the state with the highest household expenditure per capita (R$10.90) and with the highest prevalence of households with expenditures (4.6%), while Amazonas and Tocantins had the lowest values, in which both spent less than R$1.00 and had a prevalence of less than 0.1% of households, respectively. CONCLUSIONS Only a small portion of the Brazilian households has dental insurance expenditure. The market for supplementary dentistry in oral health care covers a restricted portion of the Brazilian population. PMID:29489995
Full Text Available This paper entitled "Public expenditure on health in local budgets" aims analysing and deepening major spending categories that public authorities finance at local level, namely health expenditure. In the first part of the article we have specified the content and role of this category of expenditure in local budgets and also made some feedback on decentralization in health. In the second part of the work, based on data available in Statistical Yearbook of Romania, we have carried out an analysis of the dynamics of health spending from local budgets to emphasize their place and role in the health care expenses. The research carried out follows that the evolution and structure of health expenditure financed from local budgets is determined, along with the legislative framework in the field, by several variables that differ from one territorial administrative unit to another: the existence of sanitary units, their type, the involving of local public authorities in their development and modernization, the number and the social structure of the population. The research shows that over the period 1993-2015, the dynamics of the share of health spending in total expenditures of local budgets is sinusoidal, with a minimum threshold in 2000 of only 0.3%.
Oscar Acera Manero
Full Text Available Social capital consists of the contributions of members and associates, both mandatory and voluntary. From an accounting point of view, it is a liability figure that expresses the value of a portion of the equity of the cooperative. Its inclusion in the liability is not the fact that it is a debt but by its nature unenforceable.
This paper contributes to current debates on the relationship between globalisation and higher education. The main argument of the paper is that we are currently witnessing transnationalisation of academic capitalism. This argument is illustrated by examining the collaboration between transnational corporations and research universities, and how…
Thöni, Christian; Tyran, Jean-Robert; Wengström, Erik Roland
We show that the standard trust question routinely used in social capital research is importantly related to cooperation behavior and we provide a microfoundation for this relation. We run a large-scale public goods experiment over the internet in Denmark and find that the trust question is a proxy...
Thöni, Christian; Tyran, Jean-Robert Karl; Wengström, Erik Roland
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...
in helping elites avoid taxes and other forms of regulation. The study documents how the means through which they achieve this objective - shifting billions in private capital wealth between Asia, Africa, India and Europe - and how this affects the balance of regional economic power. Drawing from...
Meer-Kooistra, Jeltje van der; Zijlstra, Siebren M.
In today’s knowledge-based economy intellectual capital (IC) is becoming a major part of companies’ value. Being able to manage and control IC requires that companies can identify, measure and report internally on IC. As financial accounting rules ban full disclosure of IC in the annual report the
Full Text Available This paper looks at the difficulties of managing modem capital projects and endeavors to reduce the complexities to simpler and more understandable terms. It examines the project environment, defines project management and discusses points of difference from traditional management. In the second part of the paper are presented fundamentals for project success for different types of projects.
The paper presents the social capital as the essential element of success of the Reggio Emilia preschools known for their unique approach to the early childhood education. The collaborative effort is introduced through examples of the currently ongoing "Reggio Narrates" project of Reggio preschools, the "Dialogue with the…
van Schaik, A.B.T.M.
In the 'sixties, the reproduction model was often the subject of analysis and discussion in economic literat ure. Discussion was by criticism of the neo-classical concept of capital as well as by a renewed interest in the labour theory of value. Criticism of the use of a homogeneous concept of
To strategically manage human capital in education means restructuring the entire human resource system so that schools not only recruit and retain smart and capable individuals, but also manage them in ways that support the strategic directions of the organization. These management practices must be aligned with a district's education improvement…
Gaay Fortman, B. de
In the two ages of its existence capitalism has given proof of its reformability. It was, however, anti-capitalist blueprints and ideas that constituted a continuous spiritual driving force towards reform. Today, after the collapse of real existing socialism there is an urgent need for new
In my belief the effectiveness of organizations has more to do with managing people in a more ethical, sustainable and effective way than what is common these days. For example employees values like trust, respect and commitment are rarely considered as values that can contribute to social capital
Flor, Christian Riis
This paper analyzes a firm's capital structure choice when assets have outside value. Valuable assets implicitly provide a collateral and increase tax shield exploitation. The key feature in this paper is asset value uncertainty, implying that it is unknown ex ante whether the equity holders ex p...
This paper merges economic geography and relational capital perspective in order to analyze the proximity-based antecedents of relational assets in brokerage. It investigates empirically the role and interplay of geographical and cognitive proximity between a broker and her buyers in a quantitative...... for buyers characteristics. Lastly, I make use the under-researched empirical field of brokers....
Waldstrøm, Christian; Svendsen, Gunnar Lind Haase
a dual focus on social capital as both immediately and potentially productive resources, i.e. assets that can be immediately capitalized by individuals as well as ‘cultivated' for future use. We argue that to further operationalize this concept we must distinguish between actual/potential social capital...
Blouin, J.; Huizinga, H.P.; Laeven, L.; Nicodeme, G.
Abstract: This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using
B. Jacobs (Bas); A.L. Bovenberg (Lans)
textabstractThis paper analyzes optimal linear taxes on capital and labor incomes in a life-cycle model of human capital investment, financial savings, and labor supply with heteroge- nous individuals. A dual income tax with a positive marginal tax rate on not only labor income but also capital
The popular mythology surrounding the U.S. venture-capital industry derives from a previous era. Venture capitalists who nurtured the computer industry in its infancy were legendary both for their risk taking and for their hands-on operating experience. But today things are different, and separating the myths from the realities is crucial to understanding this important piece of the U.S. economy. Today's venture capitalists are more like conservative bankers than the risk takers of days past. They have carved out a specialized niche in the capital markets, filling a void that other institutions cannot serve. They are the linch-pins in an efficient system for meeting the needs of institutional investors looking for high returns, of entrepreneurs seeking funding, and of investment bankers looking for companies to sell. Venture capitalists must earn a consistently superior return on investments in inherently risky businesses. The myth is that they do so by investing in good ideas and good plans. In reality, they invest in good industries--that is, industries that are more competitively forgiving than the market as a whole. And they structure their deals in a way that minimizes their risk and maximizes their returns. Although many entrepreneurs expect venture capitalists to provide them with sage guidance as well as capital, that expectation is unrealistic. Given a typical portfolio of ten companies and a 2,000-hour work year, a venture capital partner spends on average less than two hours per week on any given company. In addition to analyzing the current venture-capital system, the author offers practical advice to entrepreneurs thinking about venture funding.
Deb, Partha; Norton, Edward C
Health care expenditures and use are challenging to model because these dependent variables typically have distributions that are skewed with a large mass at zero. In this article, we describe estimation and interpretation of the effects of a natural experiment using two classes of nonlinear statistical models: one for health care expenditures and the other for counts of health care use. We extend prior analyses to test the effect of the ACA's young adult expansion on three different outcomes: total health care expenditures, office-based visits, and emergency department visits. Modeling the outcomes with a two-part or hurdle model, instead of a single-equation model, reveals that the ACA policy increased the number of office-based visits but decreased emergency department visits and overall spending.
This presents information about household end-use consumption of energy and expenditures for that energy. These data were collected in the 1993 Residential Energy Consumption Survey; more than 7,000 households were surveyed for information on their housing units, energy consumption and expenditures, stock of energy-consuming appliances, and energy-related behavior. The information represents all households nationwide (97 million). Key findings: National residential energy consumption was 10.0 quadrillion Btu in 1993, a 9% increase over 1990. Weather has a significant effect on energy consumption. Consumption of electricity for appliances is increasing. Houses that use electricity for space heating have lower overall energy expenditures than households that heat with other fuels. RECS collected data for the 4 most populous states: CA, FL, NY, TX.
Full Text Available Strategic importance of agriculture sector has been increased by the recent developments in economics as well as changes in climate and accordingly the capital flow to the sector has increased. Today, it is well known that owners of large capitals have been invested on orchards. In the world and Turkey, international companies run many orchards in different countries at the same time. Many of these companies’ shares operated in stock exchange markets. In this context of these developments, the importance of agriculture accounting for agriculture and especially cost agriculture for agriculture has been increased. Furthermore, this importance is expected to increase in accordance with the process of world markets and Turkey’s accession process to European Union. In this study, cost and expenditure which are the main concepts of agricultural cost accounting and their advantages will be discussed.
There are some myths about American capitalism. Some of them are (1) Capitalism made America the richest nation, (2) Capitalism is based on self interest, and (3) America has democracy. We show that the survival of capitalism is based on several powerful conspiracy theories. We briefly describe these conspiracies. Our analysis is based on the following principles: (a) Laws of conservation, (b) System theoretic concepts, and (c) The global space time (GST) environment. Using these princip...
Isil Erel; Brandon Julio; Woojin Kim; Michael S. Weisbach
Do macroeconomic conditions affect firms' abilities to raise capital? If so, how do they affect the manner in which the capital is raised? We address these questions using a large sample of publicly-traded debt issues, seasoned equity offers, bank loans and private placements of equity and debt. Our results suggest that a borrower's credit quality significantly affects its ability to raise capital during macroeconomic downturns. For noninvestment-grade borrowers, capital raising tends to be p...
This paper analyzes the trade-off between financial stability and credit rationing that arises when increasing capital requirements. It extends the Stiglitz-Weiss model of credit rationing to allow for bank default. Bank capital structure then matters for lending incentives. With default and rationing endogenous, optimal capital requirements can be analyzed. Introducing bank financiers, the paper also shows that uninsured funding raises the sensitivity of rationing to capital requirements. In...
Samuel Kortum; Josh Lerner
While policymakers often assume venture capital has a profound impact on innovation, that premise has not been evaluated systematically. We address this omission by examining the influence of venture capital on patented inventions in the United States across twenty industries over three decades. We address concerns about causality in several ways, including exploiting a 1979 policy shift that spurred venture capital fundraising. We find that the amount of venture capital activity in an indust...
Abolhallaje, M; Hasani, Sa; Bastani, P; Ramezanian, M; Kazemian, M
This study will provide detailed specification of those variables and determinants of unpredictable health expenditure in Iran, and the requirements to reduce extensive effects of the factors affecting households' payments for health and other goods and services inappropriately. This study aims to identify measures of fair financing of health services and determinants of fair financing contribution, regarding the required share of households that prevents their catastrophic payments. In this regard, analysis of shares of households' expenditures on main groups of goods and services in urban and rural areas and in groups of deciles in the statistics from households' expenditure surveys was applied. The growth of spending in nominal values within the years 2002-2008 was considerably high and the rate for out-of-pocket payments is nearly the same or greater than the rate for total health expenditure. In 2008, urban and rural households in average pay 6.4% and 6.35% of their total expenditure on health services. Finally three categories of determinants of unfair and catastrophic payments by households were recognized in terms of households' socio-economic status, equality/inequality conditions of the distribution of risk of financing, and economic aspects of health expenditure distribution. While extending the total share of government and prepayment sources of financing health services are considered as the simplest policy for limiting out-of-pocket payments, indicators and policies introduced in this study could also be considered important and useful for the development of health sector and easing access to health services, irrespective of health financing fairness.
Maurício C. Coutinho
Full Text Available This paper presents Adam Smiths view on taxation and public expenditure, by means of an almost literal reading of the Wealth of Nations famous passages on the "duties of the sovereign" and on the "maxims of taxation". Contrarily to the commonest usage of these passages, we will show that their core is the preoccupation with the public expenditure soaring and the defence of decentralisation. Furthermore and also contrarily to the existing interpretations we defend the non-existence of any contradiction between Smiths income and price theory (and the incidence hypothesis, provided due attention is paid to the guiding role of the "maxims".
De La Rue, S; Draper, Stephen B; Potter, Christopher R; Smith, M.
Despite the vigorous nature of rock/pop drumming, there are no precise data on the energy expenditure of this activity. The aim of this study was to quantify the energy cost of rock/pop drumming. Fourteen male drummers (mean +/- SD; age 27 +/- 8 yrs.) completed an incremental drumming test to establish the relationship between energy expenditure and heart rate for this activity and a ramped cycle ergometer test to exhaustion as a criterion measure for peak values (oxygen uptake and heart rate...
In the 1960s, a ânewâ marketing concept known as "four Ps marketing mix" appeared and shifted the focus from the product to the customer. The objective of the new concept was not only profit, and the means of achieving the objective expanded to include the entire âmarketing mixâ: product, price, promotion, and place (channels and distribution). Expenditures of marketing in a company should be explored from these mixes, because each mix would have an impact on the total marketing expenditures....
Madsen, Susan R.
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…
De Jonghe, O.G.; Öztekin, Ö.
We examine the dynamic behavior of bank capital using a global sample of 64 countries during the 1994-2010 period. Banks achieve deleveraging through active capital management (equity growth) rather than asset liquidation. In contrast, they achieve leveraging through passive capital management
Lassen Hanan, Anne
This paper outlines the major schools within social capital theory. Contemporary authors such as Coleman, Putnam and Bourdieu are elaborated on. The paper also presents a non-exhaustive review on studies of social capital. Furthermore, a criticial discussion on social capital is reviewed, before...
We use data from an online game economy and econometric matching methods to test whether social capital of players has an impact on game success. Membership in a 'clan', a voluntary organization of players, positively impacts game success. Hence, social capital has a positive effect on outcomes. Yet, top performers do not gain from access to this social capital.
Ohashi, Yuki; Taguchi, Atsuko; Omori, Junko; Ozaki, Akiko
Harnessing community assets may help public health nurses address health inequalities. Cultural factor is one such asset, which is assumed to be capital in a community. Cultural capital is a key concept for understanding the causes of public health issues. This paper provided an in-depth analysis of "cultural capital" as a concept. Rodgers' evolutionary methodology was used for concept analysis. Forty-two studies published in English between 1998 and 2015 were retrieved from MEDLINE by searching for "cultural capital" in the title field. Antecedents of cultural capital included "educational environment," "belongingness in one's social group," "existing health/social inequalities," and "daily behavior." Cultural capital's identified attributes were "social cultivation," "reproductive rubric," "practical knowledge," and "autogenic ability." Cultural capital's consequences were "improving productivity," "reducing health/social inequality," and "enhancing well-being." Cultural capital is defined as capital characterized by cultivation, rubric, knowledge, and ability. These aspects of cultural capital are typically autogenic, and accumulate and reproduce through lifelong community membership. Cultural capital reduces inequality and ultimately enhances the well-being of individuals and the community through bonding, bridging, and linking economic and social capital. © 2017 Wiley Periodicals, Inc.
Da Rin, Marco; Penas, Maria
Venture capital investors are specialized financial intermediaries that provides funding for technological innovation with the goal of realizing a capital gain within a few years. We are the first to examine the association of venture capital funding with a company’s choice of innovation strategies.
Da Rin, Marco; Penas, Fabiana
Venture capital investors are specialized financial intermediaries that provide funding for technological innovation with the goal of realizing a capital gain within a few years. We are the first to examine the association of venture capital funding with a company's choice of innovation strategies.
Perotti, E.; Ratnovski, L.; Vlahu, R.
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
Perotti, E.; Ratnovski, L.; Vlahu, R.
The paper studies risk mitigation associated with capital regulation, in a context where banks may choose tail risk assets. We show that this undermines the traditional result that higher capital reduces excess risk taking driven by limited liability. Moreover, higher capital may have an unintended
Ness, Erik C.; Tandberg, David A.
Our fixed-effects panel data analysis of state spending on higher education fills a near void of studies examining capital expenditures on higher education. In our study, we found that political characteristics (e.g., interest group activity, organizational structure, and formal powers) largely account for differences between general fund and…
... countercyclical capital buffer was designed to take into account the macro-financial environment in which large... ability to raise capital to meet the increased minimum requirements in the current environment and upon...
Rasmussen, Grane Mikael Gregaard; Edwards, Kasper
Performance systems and social capital are considered mutually exclusive. Contemporary studies show that social capital is essential in generating performance improvement. This raises an important question: “How do performance systems and social capital correspond?” This study draws on findings...... from a study on implementation of a performance system in Danish construction. The results show causalities between implementing the performance system and the emergence of social capital in construction projects. Results indicate that performance systems and social capital is not mutually exclusive...
Full Text Available Organisational culture discourse mandates a linear approach of diagnosis, measurement and gap analysis as standard practice in relation to most culture change initiatives. Therefore, a problem solving framework geared toward “fixing�? and/or realigning an organisation’s culture is usually prescribed. The traditional problem solving model seeks to identify gaps between current and desired organisational cultural states, inhibiting the discovery of an organisation’s unique values and strengths, namely its cultural capital. In pursuit of discovering and leveraging organisational cultural capital, a descriptive case study is used to show how an Appreciative Inquiry process can rejuvenate the spirit of an organisation as a system-wide inquiry mobilises a workforce toward a shared vision.
Cong, Ronggang; Termansen, Mette; Brady, Mark
Farmers are exposed to substantial weather and market related risks. Rational farmers seek to avoid large losses. Future climate change and energy price fluctuations therefore make adaptating to increased risks particularly important for them. Managing soil natural capital—the capacity of the soil...... to generate ecosystem services of benefit to farmers—has been proven to generate the double dividend: increasing farm profit and reducing associated risk. In this paper we explore whether managing soil natural capital has a third dividend: reducing the downside risk (increasing the positive skewness of profit......). This we refer to as the prudence effect which can be viewed as an adaptation strategy for dealing with future uncertainties through more prudent management of soil natural capital. We do this by developing a dynamic stochastic portfolio model to optimize the stock of soil natural capital—as indicated...
..., Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital Rule AGENCY: Federal Deposit Insurance... Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and...
Adequate sleep is crucial during childhood for metabolic health, and physical and cognitive development. Inadequate sleep can disrupt metabolic homeostasis and alter sleeping energy expenditure (SEE). Functional data analysis methods were applied to SEE data to elucidate the population structure of ...
Catal, Cagatay; Akbulut, Akhan
It is crucial to predict the human energy expenditure in any sports activity and health science application accurately to investigate the impact of the activity. However, measurement of the real energy expenditure is not a trivial task and involves complex steps. The objective of this work is to improve the performance of existing estimation models of energy expenditure by using machine learning algorithms and several data from different sensors and provide this estimation service in a cloud-based platform. In this study, we used input data such as breathe rate, and hearth rate from three sensors. Inputs are received from a web form and sent to the web service which applies a regression model on Azure cloud platform. During the experiments, we assessed several machine learning models based on regression methods. Our experimental results showed that our novel model which applies Boosted Decision Tree Regression in conjunction with the median aggregation technique provides the best result among other five regression algorithms. This cloud-based energy expenditure system which uses a web service showed that cloud computing technology is a great opportunity to develop estimation systems and the new model which applies Boosted Decision Tree Regression with the median aggregation provides remarkable results. Copyright © 2018 Elsevier B.V. All rights reserved.
Rouwendal, J.; van Loon, R.R.
The authors study the probability of taking a vacation, foreign or domestic, and the expenditures of Dutch households on vacations. The paper first provides a brief review of Dutch vacation behaviour over the past 30 years. It then presents the results of statistical models for destination choice
... part for labor, weatherization materials, and related matters for a renewable energy system, shall not... beginning in calendar year 2010 and the $3,000 average for renewable energy systems will be adjusted... 10 Energy 3 2010-01-01 2010-01-01 false Allowable expenditures. 440.18 Section 440.18 Energy...
ALSEM, KJ; LEEFLANG, PSH
In this article we study the use of intention surveys to predict the effects of a possible entrant. The case under investigation deals with the introduction of private broadcasting in the Netherlands. Several predictions of the advertising expenditures in various media are given which depend on a
Sherman, Sally A; Rogers, Renee J; Davis, Kelliann K; Minster, Ryan L; Creasy, Seth A; Mullarkey, Nicole C; O'Dell, Matthew; Donahue, Patrick; Jakicic, John M
Whether the energy cost of vinyasa yoga meets the criteria for moderate-to-vigorous physical activity has not been established. To compare energy expenditure during acute bouts of vinyasa yoga and 2 walking protocols. Participants (20 males, 18 females) performed 60-minute sessions of vinyasa yoga (YOGA), treadmill walking at a self-selected brisk pace (SELF), and treadmill walking at a pace that matched the heart rate of the YOGA session (HR-Match). Energy expenditure was assessed via indirect calorimetry. Energy expenditure was significantly lower in YOGA compared with HR-Match (difference = 79.5 ± 44.3 kcal; P YOGA = 3.6 ± 0.6; P YOGA, showed energy expenditure was significantly lower in YOGA compared with HR-Match (difference = 68.0 ± 40.1 kcal; P YOGA meets the criteria for moderate-intensity physical activity. Thus, YOGA may be a viable form of physical activity to achieve public health guidelines and to elicit health benefits.
Shcherbachenko Viktoriia Oleksiivna
This article deals with the selection of intellectual capital management strategy. The attention is paid to the structure of intellectual capital, which consists of human capital, customer capital, process capital, intellectual property, intangible assets. The algorithm of selection of intellectual capital management strategy was created by author.
Shcherbachenko Viktoriia Oleksiivna
Full Text Available This article deals with the selection of intellectual capital management strategy. The attention is paid to the structure of intellectual capital, which consists of human capital, customer capital, process capital, intellectual property, intangible assets. The algorithm of selection of intellectual capital management strategy was created by author.
Olga Sergeevna Miroshnichenko
Full Text Available Searching of sources to increase the capitalization of Russian banks is an important economic problem for both the national and regional economy. Moreover, a strong capital base allows to credit institutions to meet the demands of economic agents for banking service. The research focuses on the choice of sources of regulatory capital for the banks of Tyumen region in the context of changing supervisory requirements in the period of 2005–2016, in different phases of the business cycle. We apply econometric methods of statistical information using IBM SPSS Statistics software. We have calculated the individual correlations of regional banks’ capital with gross domestic product (GDP (excluding gross regional product (GRP and GRP (with the exception of the effect of GDP. These calculations have shown that the capital of regional banks is related only to GDP. The increase in the capital of regional banks is accompanied by a change in its structure: the share of authorized capital has halved, and the share of subordinated debt has grown. All sources of capital, other than the reserve fund, are related to GDP. Authorized capital is associated with the profit of profitable lending institutions; retained earnings in the capital of regional banks — with the aggregated amount of risks of the banking system of the Russian Federation. Subordinated debt, like capital as a whole, is negatively affected by the profitability of the banking sector. The change in the capital of regional banks is determined by the change in retained earnings, subordinated debt and reserve fund. Modelling of these relations has allowed to obtain a system of equations. This system synthesizes linear regression models of changing the capital of regional banks in the context of their sourcing. The results of this study are significant for theoretical justification and practical development of a balanced financial policy of regional banks. Our research will contribute to
Aug 4, 1990 ... This paper considers the distribution of health expenditure between the public ... An understanding of past health care expenditure patterns is a prerequisite to any .... of this total and local government for 8% in the same year.
Department of Veterans Affairs — This report contains FY2000 through FY2013 data on disability compensation expenditures and recipients and on VA healthcare system patients and patient expenditures.
Nordsborg, Nikolai Baastrup; Espinosa, Hugo G.; Van Thiel, David H
The determination of energy expenditure is of major interest in training load and performance assessment. Small, wireless accelerometer units have the potential to characterise energy expenditure during swimming. The correlation between absorbed oxygen versus flume swimming speed and absorbed oxy...
Clive E. Coetzee
Aim: The way provincial or regional growth depends on infrastructure is investigated in this article and it is applied to data from KwaZulu-Natal province, as an illustration. Setting: This study investigates the extent to which infrastructure in KwaZulu-Natal province in South Africa leads towards economic growth of the province. Methods: From a theoretical framework, this article develops an endogenous growth model, which investigates the association between provincial public capital stock expenditure and economic growth. Data series for public capital formation are first developed to apply in this study and others to follow. Econometric techniques are then employed, using quarterly data between 2001 and 2015, to assess the set hypothesis that growth in expenditure on public capital leads to national economic growth. Results: The empirical results support the argument of a positive relationship between provincial capital stock and economic growth in the long-term. The findings also suggests that the long-term causality or effect fades over time, albeit slowly. Conclusion: The nature and statistical significance of the long-term equilibrium relationship seems to be ambiguous at best. Some evidence of an equilibrium relationship in the short-term was, however, also observed. In conclusion, there also seems to be some causality between provincial capital stock and provincial gross domestic product in the short-run.
Full Text Available Public expenditures are public outlays which competent state organs realize for the purpose of fulfilling obligations of general public interest. They are manifested in different forms and in different social, economic and political areas. Public expenditures produce direct and indirect effects in production and influence consumption and prices. Economic structure and conjectural courses of one country have an impact on the highness of the public expenditures. Economic and social subsidies present the main instruments for achieving economic and social effects through the policy of public expenditures, whilst in conjectural economies; the effect of public expenditures is large and is realized through the mechanism of multiplicators which are used when the economy is in the state of economic stagnation and recession. After the war, Kosovo built a new fiscal system according to the best international practices. The tax system consists of some taxes, it has a wide spread of tax charges and applies relatively low tax rates. Both budgetary revenues and budgetary consumption have marked certain variations in relation to GDP. Currently, The Kosovo Consolidated Budget (KCB is completely fulfilled by domestic revenues. It is considered that, even if the budgetary consumption increases up to 30-34% of GDP, this raise will not endanger budgetary sustainability of the country. According to the World Bank assessment (PEFA document- 2006 on the Effectiveness of Management of Public Expenditures in Kosovo, based on the performance of main indicators of management of public finances, the effectiveness of management of public expenditures in Kosovo is relatively satisfactory. According to the draft-document of the World Bank and the Government of Kosovo (PEFA-2008, the quality of management of public expenditures in 2008 has been profoundly improved.
... to be discussed at the public hearing scheduled for April 4, 2012 at 10 a.m., must be received by... will be available for public inspection and copying. A public hearing has been scheduled for April 4... paragraph (d). The addition and revision read as follows: Sec. 1.165-2 Obsolescence of nondepreciable...
This Bachelor’s thesis examines the profitability of an investment project in franchise pur-chase decisions. The study primarily aims at analyzing the investment projects that have al-ready been, or are about to be implemented at Trade House “Europa”, a retail fashion com-pany operating all over Russia. The main objectives of the research are to provide well-grounded suggestions on realizing the investment project, and define further investment rec-ommendations for the company in the form of ...
Raabe, K.; Arnold, I.; Kool, C.J.M.
This paper presents a dynamic investment model that explains differences in the sensitivity of small- and large-sized firms to changes in the money market interest rate. In contrast to existing studies on the firm size effects of monetary policy, the importance of firms as monetary transmission
C. Edward Fee; Charles J. Hadlock; Joshua R. Pierce
We find a significant positive relation between a firm's advertising spending in the United States and its contemporaneous foreign cash flow. This relation holds even after controlling for factors that should be related to the optimal level of domestic advertising, and it is stronger for subsets of firms that we expect to be relatively more financially constrained. Our evidence supports the hypothesis that there is a causal and economically substantial link between cash flow and investment sp...
Jacob, Rhys; Saman, Wasim; Bruno, Frank
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.
... Patrick Clinton, Office Associate Chief Counsel (Income Tax & Accounting), (202) 622- 4930 (not a toll... and depreciation reserve of the general asset account, and that reflect the amount realized during the...
...), ``Accounting method changes'' as paragraph (i). 0 4. In newly redesignated paragraph (j) the second sentence is... optional method of accounting for rotable and temporary spare parts) to taxable years beginning on or after...) or $140,000 (2 percent of X's total depreciation and amortization of $7,000,000). * * * * * * * * (k...
... being based on a specific activity (for example, securing an appraisal). One commenter asked for... under section 168 regarding accounting for property under the Modified Accelerated Cost Recovery System..., while the ceiling itself could be calculated relatively simply, the financial accounting systems...
There is a continuing debate regarding urban community gardening’s benefits to local communities, and a particularly interesting branch of this debate has focused on community gardens capacity to encourage and facilitate social interaction, which may generate social capital. Social capital...... is an increasingly important concept in international research and measures of social capital have been associated with various measures of health. In a meta-analysis of literature published between 2000 and 2016 regarding community gardens’ social advantages, through the lens of the concept of social capital......, it is demonstrated that several studies substantiate that urban community gardens create social capital, both bonding and bridging, and exhibit indications of linking. It is moreover identified how there is much to be learned from future research, illuminating how urban community gardens can foster social capital...
Thomas I. Palley
Full Text Available This paper reexamines the issue of international financial capital mobility, which is today's economic orthodoxy. Discussion is often framed in terms of the impossible trinity. That framing distorts discussion by representing capital mobility as having equal significance with sovereign monetary policy and control over exchange rates. It also distorts discussion by ignoring possibilities for coordinated monetary policy and exchange rates, and for managed capital flows. The case for capital mobility rests on neo-classical economic efficiency arguments and neo-liberal political arguments. The case against capital mobility is based on Keynesian macroeconomic inefficiency arguments, neo-Walrasian market failure arguments, and neo-Marxian arguments regarding distortion of the social structure of accumulation. Close examination shows the case for capital mobility to be extremely flimsy, pointing to the ideological dimension behind today's policy orthodoxy.
Jackson, Matthew O.
I provide a typology of social capital, breaking it down into seven more fundamental forms of capital: information capital, brokerage capital, coordination and leadership capital, bridging capital, favor capital, reputation capital, and community capital. I discuss how most of these forms of social capital can be identified using different network-based measures.
Kenayathulla, Husaina Banu
Private tutoring has been a burgeoning phenomenon in Malaysia for decades. This study examines the determinants of private tutoring expenditures in Malaysia using the 2004/2005 Household Expenditures Survey and applies hurdle regression models to the data. The results indicate that total household expenditures, household head's level of education,…
... turnout, or voter education constitute other expenses, treated as political expenditures by reason of... 26 Internal Revenue 17 2010-04-01 2010-04-01 false Tax on political expenditures. 53.4955-1... Tax on political expenditures. (a) Relationship between section 4955 excise taxes and substantive...
Canadian Mining Journal's 1977 Capital Expenditure Survey shows a drop of 52% in announced spending intentions compared with the 1976 survey total. Coal is particularly hard hit with announced spending for 1977 at 1,250,000 dollars as compared to 700,770,000 in 1976. This total 1977 amount is reported by Kaiser Resources for installing a Honeywell Model 66/05 large scale computer system to be used for accounting, inventory control, engineering and material procurement applications at Sparwood.
Austin, Robert D.; Meister, Darren
It took 19 years to build Knight Capital Americas LLC into the largest market maker on the New York Stock Exchange, but on August 1, 2012, it took only 45 minutes for the firm to be wiped out by an information technology (IT) problem: a change in the company's software caused it to lose more than...... $450 million dollars in less than an hour. Although it was ultimately saved from bankruptcy when it was acquired two days later, the terms of acquisition were very unfavourable to the company's shareholders. How did this happen? Could it have been prevented? What should the staff, the chief executive...
I examine the causal relation between social capiatl and corruption. A simple model illustrates potential mechanisms and yields testable implications, which I estimate in a sample of European countries. The estimated effect of social capital on corruption is found to be robust to the inclusion...... of a number of other variables and supplementing the sample with slightly older data from non-European countries. The evidence of the reverse causal direction is weak. I suggest that it is possible to build social capiatl through investing in education, interest in society and some level of income...
Oscar Alejandro Goyes Viteri
Este documento busca dar a conocer el tema de la inversión en capital humano a través de la celebración de contratos atípicos y utilizando la fiducia mercantil y la titularización como vehículos financieros. Por medio de estos contratos un estudiante obtiene los recursos que requiere para financiar su educación superior, a cambio de entregar un porcentaje de sus ingresos después de su graduación a quien financió la operación.
María Isabel Pueyo Roy
Full Text Available El artículo presenta un resumen de la teoría existente sobre capital humano, considerando dos proposiciones que se complementan: la Teoría Neoclásica -educación como formación laboral o señalización al mercado de trabajo- y la Teoría Institucional o de mercados internos de trabajo. Se presenta el desarrollo de ambas teorías, los problemas que presentan y la complementariedad entre las mismas.
McCue, M J; Ozcan, Y A
This study analyzes the determinants of hospital capital structure in a new market setting that are created by the financial pressures of prospective payment and the intense price competition among hospitals. Using California data, the study found hospital system affiliation, bed size, growth rate in revenues, operating risk, and asset structure affected both short- and long-term debt borrowings. In addition, percentage of uncompensated care, profitability, and payer mix influenced short-term borrowings while market conditions and ownership affected long-term borrowings. Most significant of all is the finding that smaller hospitals tend to borrow more, possibly because they cannot generate funds internally.
... Insurance Program expenditures. 457.618 Section 457.618 Public Health CENTERS FOR MEDICARE & MEDICAID SERVICES, DEPARTMENT OF HEALTH AND HUMAN SERVICES (CONTINUED) STATE CHILDREN'S HEALTH INSURANCE PROGRAMS... Children's Health Insurance Program expenditures. (a) Expenditures. (1) Primary expenditures are...
Svendsen, G.L.; Svendsen, Gert Tinggaard
What are the roots of social capital and how can it be measured and built? Social capital is considered as a new production factor which must be added to the conventional concepts of human and physical capital. Social capital is productive because it increases the level of trust in a society...... and allows more transactions to take place without third-party enforcement. Theory and lessons from empirical evidence lead to the general recommendation that any loss in social capital must be deducted from the economic gain following market forces. For example, the voluntary organization of small......-sized groups in the Danish Cooperative Dairy Movement was eliminated due to economies of scale. It may be so that an alternative way of production, taking social capital into account, could have increased economic growth further....
... expenditures to influence legislation; introduction. 1.501(h)-1 Section 1.501(h)-1 Internal Revenue INTERNAL...) Exempt Organizations § 1.501(h)-1 Application of the expenditure test to expenditures to influence... attempting to influence legislation, (except as otherwise provided in subsection (h)).” This requirement is...
... State or local tax credits allowable expenditures for TANF-related purposes? (a) To be an allowable expenditure for TANF-related purposes, any tax credit program must be reasonably calculated to accomplish one... credit to be an allowable expenditure. (2) Under a State Earned Income Tax Credit (EITC) program, the...
Horváth, Roman; Seidler, Jakub; Weill, Laurent
This paper examines the relation between banks’ capital and liquidity creation. This issue is of interest to determine the potential impact of higher capital requirements for banks on their liquidity creation, which may have particular importance with new Basel III reform demanding from banks higher capital. We perform Granger-causality tests in a dynamic GMM panel estimator framework on an exhaustive dataset of Czech banks from 2000 to 2010.
This paper reviews the case for and against mandatory legal capital rules. It is argued that legal capital is no longer an appropriate means of safeguarding creditors' interests. This is most clearly the case as regards mandatory rules. Moreover, it is suggested that even an 'opt in' (or default) legal capital regime is unlikely to be a useful mechanism. However, the advent of regulatory arbitrage in European corporate law will provide a way of gathering information regarding investors' prefe...
Stephen Bond; Jing Xing
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...
Maurício C. Coutinho
Full Text Available This paper presents Adam Smith’s view on taxation and public expenditure, by means of an almost literal reading of the Wealth of Nations famous passages on the “duties of the sovereign” and on the “maxims of taxation”. Contrarily to the commonest usage of these passages, we will show that their core is the preoccupation with the public expenditure soaring and the defence of decentralisation. Furthermore – and also contrarily to the existing interpretations – we defend the non-existence of any contradiction between Smith’s income and price theory (and the incidence hypothesis, provided due attention is paid to the guiding role of the “maxims”.
Laurence J. Kotlikoff
This paper discusses conceptual problems of distinguishing "expenditure" policy from "tax" policy and "deficit" policy. The paper argues that each of these concepts is ill-defined and does not provide a useful basis for examining the government" underlying fiscal policies. The fundamentals of fiscal policy involve changes in marginal incentives, inframarginal intra- and intergenerational redistribution, and direct government consumption. The paper reviews some of the effects of these fundamen...
Tourism activities affect the environment of different destinations, which is influenced by different tourists’ consumption. The objective of this study is to examine the relationship between inbound tourist expenditures and three main environmental dimensions, which are carbon dioxide emission from transport, energy demand, and water usage, in Thailand. This paper employs Vector Autoregressive (VAR) models to determine the relationship of variables. Data from Ministry of Energ...
Glenn Jenkins; Chun-Yan Kuo
This paper takes a broad approach in the sense that only the fundamental structure elements of each tax system are considered as part of the benchmark tax system. Moreover, this paper will go beyond the traditional tax expenditure reporting by taking into account an ideal tax system with minor distortions as part of the benchmark. Because of having an ideal tax system as a norm, the report makes some judgments about the appropriateness of the ideal tax structure in the Dominican Republic and ...
Svendsen, Gunnar Lind Haase; Patulny, Roger
The purpose of this paper is to show that numerous studies have advanced social capital research over the past decade. Most studies have accepted the theoretical distinction between bonding and bridging social capital networks. Many, however, tend to agglomerate empirical research under the one...... catch-all social capital concept, rather than classifying it according to the bonding/bridging distinction. Furthermore, most studies make little distinction on the basis of methodology, between qualitative and quantitative approaches to investigating social capital. These omissions need to be addressed....
Full Text Available Natural disasters have increased in their frequency, and the intensity of their destruction over the last ten years in Indonesia. Households usually respond to these difficulties by cutting their consump-tion, especially for non-essential goods. Arguably natural disasters are exogenous events, so this paper uses the exogenous variation from natural disasters as a natural experiment design to estimate the effect of disasters on household expenditure. When a certain group is exposed to the causal variable of interest, such as a disaster, and other groups are not, the Difference In Difference model (DID can be used for estimation. Using a micro level survey data set from the Indonesian Family Life Survey (IFLS which covers approximately 83 percent of the Indonesian population within the survey area, this paper examines the effects of natural disasters on household expenditure. This paper also examines whether there are any different impacts from different types of disasters. The finding is there are no significant effects of disasters on total household expenditure for households living in disaster regions, whether they are affected directly or not by the disaster.
Kildemoes, Helle Wallach
expenditure among the elderly partly is due the high "costs of dying". Aims The aim of this study was to estimate the impact of the ageing Danish population on future total expenditures on out-of-hospital prescription drugs and to describe the association between age and drug expenditure among survivors......Background Population ageing is likely to place an increasing burden on future health care budgets. Several studies have demonstrated that the impact of ageing on future hospital expenditures will be overestimated when not accounting for proximity to death. This is because greater health care...... compared to that of decedents. Methods Taking expenditure during the last year of life and the changes in mortality rates into account, future drug expenditure was projected by multiplying estimated mean annual drug expenditure according to age, gender and survival status by the predicted future number...
Full Text Available Venture capital (VC is an important fund source for small and medium enterprises (SMEs and start up, particularly to deliver its main product of equity participation. Therefore, capital structure and factors that affect it are very crucial. This study aims to analyze the capital structure of VC firms in Indonesia using econometric model of panel data regression. This study utilizes secondary data of six years period (2009-2014 monthly financial statements of 27 samples out of 58 VC firms to form 1,944 observations. The study reveals that capital structure of VC firms in Indonesia is dominated by debt/loan rather than capital with DER on average is 136.95%. In addition, the research confirms that VC firms’ capital structure is affected simultaneously by financial aspects which are asset size, profitability, liquidity, asset/investment quality, and earning asset structure. The attentions to financial aspects that affect the VC firms’ capital structure as well as other initiatives related to capital increases are necessary so that the VC firms could carry out its role effectively.
Vataire, Anne-Lise; Cetinsoy, Laurent; Aballéa, Samuel; Rémuzat, Cécile; Urbinati, Duccio; Kornfeld, Åsa; Mzoughi, Olfa; Toumi, Mondher
The value appreciation of new drugs across countries today features a disruption that is making the historical data that are used for forecasting pharmaceutical expenditure poorly reliable. Forecasting methods rarely addressed uncertainty. The objective of this project was to propose a methodology to perform pharmaceutical expenditure forecasting that integrates expected policy changes and uncertainty (developed for the European Commission as the 'EU Pharmaceutical expenditure forecast'; see http://ec.europa.eu/health/healthcare/key_documents/index_en.htm). 1) Identification of all pharmaceuticals going off-patent and new branded medicinal products over a 5-year forecasting period in seven European Union (EU) Member States. 2) Development of a model to estimate direct and indirect impacts (based on health policies and clinical experts) on savings of generics and biosimilars. Inputs were originator sales value, patent expiry date, time to launch after marketing authorization, price discount, penetration rate, time to peak sales, and impact on brand price. 3) Development of a model for new drugs, which estimated sales progression in a competitive environment. Clinical expected benefits as well as commercial potential were assessed for each product by clinical experts. Inputs were development phase, marketing authorization dates, orphan condition, market size, and competitors. 4) Separate analysis of the budget impact of products going off-patent and new drugs according to several perspectives, distribution chains, and outcomes. 5) Addressing uncertainty surrounding estimations via deterministic and probabilistic sensitivity analysis. This methodology has proven to be effective by 1) identifying the main parameters impacting the variations in pharmaceutical expenditure forecasting across countries: generics discounts and penetration, brand price after patent loss, reimbursement rate, the penetration of biosimilars and discount price, distribution chains, and the time
Ess, Silvia M; Schneeweiss, Sebastian; Szucs, Thomas D
In the last 20 years, expenditures on pharmaceuticals - as well as total health expenditures - have grown faster than the gross national product in all European countries. The aim of this paper was to review policies that European governments apply to reduce or at least slow down public expenditure on pharmaceutical products. Such policies can target the industry, the wholesalers and retailers, prescribers, and patients. The objectives of pharmaceutical policies are multidimensional and must take into account issues relating to public health, public expenditure and industrial incentives. Both price levels and consumption patterns determine the level of total drug expenditure in a particular country, and both factors vary greatly across countries. Licensing and pricing policies intend to influence the supply side. Three types of pricing policies can be recognised: product price control, reference pricing and profit control. Profit control is mainly used in the UK. Reference pricing systems were first used in Germany and The Netherlands and are being considered in other countries. Product price control is still the most common method for establishing the price of drugs. For the aim of fiscal consolidation, price-freeze and price-cut measures have been frequently used in the 1980s and 1990s. They have affected all types of schemes. For drug wholesalers and retailers, most governments have defined profit margins. The differences in price levels as well as the introduction of a Single European Pharmaceutical Market has led to the phenomenon of parallel imports among member countries of the European Union. This may be facilitated by larger and more powerful wholesalers and the vertical integration between wholesalers and retailers. To control costs, the use of generic drugs is encouraged in most countries, but only few countries allow pharmacists to substitute generic drugs for proprietary brands. Various interventions are used to reduce the patients' demand for drugs by
... 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...
Kebede, Derege; Zielinski, Chris; Mbondji, Peter Ebongue; Sanou, Issa; Kouvividila, Wenceslas; Lusamba-Dikassa, Paul-Samson
To estimate the sources of funds for health research (revenue) and the uses of these funds (expenditure). A structured questionnaire was used to solicit financial information from health research institutions. Forty-two sub-Saharan African countries. Key informants in 847 health research institutions in the 42 sub-Saharan African countries. Expenditure on health research by institutions, funders and subject areas. An estimated total of US$ 302 million was spent on health research by institutions that responded to the survey in the World Health Organization (WHO) African Region for the biennium 2005-2006. The most notable funders for health research activities were external funding, ministries of health, other government ministries, own funds and non-profit institutions. Most types of health research performers spent significant portions of their resources on in-house research, with medical schools spending 82% and government agencies 62%. Hospitals spent 38% of their resources on management, and other institutions (universities, firms, etc.) spent 87% of their resources on capital investment. Research on human immunodeficiency virus/tuberculosis and malaria accounted for 30% of funds, followed by research on other communicable diseases and maternal, perinatal and nutritional conditions (23%). Research on major health problems of the Region, such as communicable diseases, accounts for most of the research expenditures. However, the total expenditure is very low compared with other WHO regions. © The Royal Society of Medicine.
essays, Slavko Kacunko discusses the process art by crossing the disciplines of art history and comparative media-, visual- and -cultural studies. As a first approximation, several historiographical remarks on closed-circuit video installations underline their importance as a core category of process art......A collection of essays 2011-2014 By following, and reproducing, the cultural turn, the rhetoric of cultural mix and hybridism is disseminated today primarily in its crossing of trade barriers. Cultures reduced to their exchange value function as capital - an accumulative, speculative and....... In the second part, the problems of process art, seen as a threshold of art history, are further examined in another retroanalytical step, in which concepts and objects related to `mirror', `frame' and `immediacy' are analyzed as the triple delimitation of visual culture studies. In the third part, previously...
Resumo: Este estudo consiste numa análise das estratégias ideológicas e discursivas em reportagens das revistas Veja e Carta Capital, publicadas em maio de 2009, sobre a revelação do câncer da então ministra-chefe da Casa Civil do Brasil, Dilma Rousseff. O objetivo é investigar como a comunicação, por meio das estratégias discursivas e ideológicas utilizadas em ambos os veículos informativos, emite determinadas descrições da conjuntura política e eleitoral da época. Para isto, são realizados ...
A summary of the operating economics of the Winter Cummings Sand Pool, a horizontal well development project with a sustained rate of development, was presented. A total of 58 horizontal wells have been drilled over a time span of seven years. The production performance of the first pilot wells indicated that development of the pool by horizontal wells could be economically viable. Since its inception the Winter field development was considered to have become a capital treadmill with an incremental rate of return on the incremental investment of 240 percent (a 24 million dollar net operating cash flow for a 10 million dollar investment). Current development status and production forecasts were also discussed. 21 figs
A collection of essays 2011-2014 By following, and reproducing, the cultural turn, the rhetoric of cultural mix and hybridism is disseminated today primarily in its crossing of trade barriers. Cultures reduced to their exchange value function as capital - an accumulative, speculative and...... essays, Slavko Kacunko discusses the process art by crossing the disciplines of art history and comparative media-, visual- and -cultural studies. As a first approximation, several historiographical remarks on closed-circuit video installations underline their importance as a core category of process art....... In the second part, the problems of process art, seen as a threshold of art history, are further examined in another retroanalytical step, in which concepts and objects related to `mirror', `frame' and `immediacy' are analyzed as the triple delimitation of visual culture studies. In the third part, previously...
'Full text:' The emerging fuel cell industry is characterized by global cooperation and partnerships in commercial, technical, and financial aspects. In this talk, we would like to provide observations about international venture capital focused on fuel cells globally. The talk will refer to experiences Conduit Ventures has had with its portfolio companies and other investors in various countries. We discuss our approach to working with portfolio companies who are geographically remote from our main office in London. We also discuss the process of making investment decisions on possible investments in various countries. The talk will conclude with insights and 'lessons learned' which may be of interest to fellow members of Fuel Cells Canada. (author)
D.E. Allen (David); M.J. McAleer (Michael); R.J. Powell (Robert); A.K. Singh (Abhay)
markdownabstract__Abstract__ In this paper, we develop a new capital adequacy buffer model (CABM) which is sensitive to dynamic economic circumstances. The model, which measures additional bank capital required to compensate for fluctuating credit risk, is a novel combination of the Merton
Allan, Julie; Catts, Ralph
This paper reports on the significance of social capital in relation to education, exploring its relevance to teachers and other professionals as well as among young people. It draws on aspects of five case studies undertaken by the Schools and Social Capital Network, within the Applied Educational Research Scheme in Scotland. These case studies…
Newman, Carol; Tarp, Finn; Khai, Luu Duc
In this paper, we analyze household savings in rural Vietnam paying particular attention to the factors that determine the proportion of savings held as formal deposits. Our aim is to explore the extent to which social capital can play a role in promoting formal savings behavior. Social capital...
Edelweiss, Danila Lorens
Através de uma pesquisa realizada com empresas rio setor de varejo, é realizada uma análise do conjunto de indicadores de capital intelectual com o objetivo de buscar evidências que empresas que apresentam melhores indicadores de capital intelectual, também apresentam melhores resultados financeiros.
Da Rin, M.; Penas, M.F.
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
Reports that some universities are starting their own venture-capital funds to develop campus companies, or are investing endowment funds with established venture-capital firms inclined to finance potential spinoffs from campus research. Examples cited are from the University of Alabama, Vanderbilt University (Tennessee), University of…
Lensink, R; Hermes, N; Murinde, [No Value
This paper provides the first serious attempt to examine the relationship between political risk and capital flight for a large set of developing countries. The outcomes of the analysis show that in most cases political risk variables do have a statistically robust relationship to capital flight
Bekele, Wosen; Escobedo, Eva; Allen, Robert
Avascular necrosis of the capitate is a rare entity. The most common reported etiology is trauma. We report a case of avascular necrosis of the capitate in a patient with chronic wrist pain that began after a single episode of remote trauma.
Bekele, Wosen; Escobedo, Eva; Allen, Robert
Avascular necrosis of the capitate is a rare entity. The most common reported etiology is trauma. We report a case of avascular necrosis of the capitate in a patient with chronic wrist pain that began after a single episode of remote trauma. PMID:22470799
Full Text Available O artigo aborda a questão da metodologia que Marx utilizou em O Capital. A hipótese é que Marx utiliza a Fenomenologia do Espírito de Hegel como paradigma, em vez da Ciência da Lógica, como se acredita. O argumento discerne a fenomenologia do século 19 a partir da compreensão atual, moldada por Husserl. Além disso, eu remeto a ideia de uma fenomenologia em economia de volta ao círculo dos jovens hegelianos em torno de Proudhon. No entanto, o argumento é conclusivo apenas por um olhar mais atento ao uso que Hegel e Marx fazem dos níveis distintos de abstração dentro de suas respectivas exposições. O artigo demonstra especialmente os paralelos no início de ambos os livros e a forma como os seus autores avançam de um nível para o outro. Em contraste com as abordagens atuais que empregam a Ciência da Lógica como paradigma, eu saliento a especificidade que os objetos de investigação exibem em seus níveis particulares de abstração. Exemplos são a diferença de valores e preços de mercado e a discriminação entre capitais em geral e capital como um de muitos capitais em competição.
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....
Carrillo Álvarez, Elena; Riera Romaní, Jordi
Social capital is defined as the resources available to individuals and groups through membership in social networks. However, multiple definitions, distinct dimensions and subtypes of social capital have been used to investigate and theorise about its relationship to health on different scales, creating a confusing picture. This heterogeneity makes it necessary to systematise social capital measures in order to build a stronger foundation in terms of how these associations between the different aspects of social capital and each specific health indicator develop. We aim to provide an overview of the measurement approaches used to measure social capital in its different dimensions and scales, as well as the mechanisms through which it is presumed to influence health. Understanding the mechanisms through which these relationships develop may help to refine the existing measures or to identify new, more appropriate ones. Copyright © 2016 SESPAS. Publicado por Elsevier España, S.L.U. All rights reserved.
Ejlskov, Linda; Mortensen, Rikke N; Overgaard, Charlotte
BACKGROUND: The concept of social capital has received increasing attention as a determinant of population survival, but its significance is uncertain. We examined the importance of social capital on survival in a population study while focusing on gender differences. METHODS: We used data from...... a Danish regional health survey with a five-year follow-up period, 2007-2012 (n = 9288, 53.5% men, 46.5% women). We investigated the association between social capital and all-cause mortality, performing separate analyses on a composite measure as well as four specific dimensions of social capital while...... controlling for covariates. Analyses were performed with Cox proportional hazard models by which hazard ratios and 95% confidence intervals were calculated. RESULTS: For women, higher levels of social capital were associated with lower all-cause mortality regardless of age, socioeconomic status, health...
Frederiksen, Anders; Kato, Takao
capital formally through schooling for career success, as well as the gender gap in career success rates. Second, broadening the scope of human capital by experiencing various occupations (becoming a generalist) is found to be advantageous for career success. Third, initial human capital earned through......Denmark’s registry data provide accurate and complete career history data along with detailed personal characteristics (e.g., education, gender, work experience, tenure and others) for the population of Danish workers longitudinally. By using such data from 1992 to 2002, we provide rigorous...... formal schooling and subsequent human capital obtained informally on the job are found to be complements in the production of career success. Fourth, though there is a large body of the literature on the relationship between firm-specific human capital and wages, the relative value of firm-specific human...
Large organizations, including the US Army Medical Department and the Army Nurse Corps, are people-based organizations. Consequently, effective and efficient management of the human capital within these organizations is a strategic goal for the leadership. Over time, the Department of Defense has used many different systems and strategies to manage people throughout their service life-cycle. The current system in use is called Human Capital Management. In the near future, the Army's human capital will be managed based on skills, knowledge, and behaviors through various measurement tools. This article elaborates the human capital management strategy within the Army Nurse Corps, which identifies, develops, and implements key talent management strategies under the umbrella of the Corps' human capital goals. The talent management strategy solutions are aligned under the Nurse Corps business strategy captured by the 2008 Army Nurse Corps Campaign Plan, and are implemented within the context of the culture and core values of the organization.
This article examines the relationship between human rights and the pattern of capital accumulation in the Third World. The repressive authoritarian State increasingly constitutes the means for enforcing the intensive exploitation of labor in Third World industrial enclaves and commercial agriculture. While the development of center capitalism has evolved toward "the Welfare State" and a framework of liberal sociodemocracy, the "peripheral State" is generally characterized by nondemocratic forms of government. This bipolarity in the state structure between center and periphery is functionally related to the international division of labor and the unity of production and circulation on a world level. The programs and policies of the center Welfare State (health, education, social security, etc.) constitute an input of "human capital" into the high-technology center labor process. Moreover, welfare programs in center countries activate the process of circulation by sustaining high levels of consumer demand. In underdeveloped countries, the underlying vacuum in the social sectors and the important allocations to military expenditure support the requirements of the peripheral labor process. Programs in health in the center and periphery are related to the bipolarity (qualification/dequalification) in the international division of labor. The social and economic functions of health programs are intimately related to the organic structure of the State and the mechanics whereby the State allocates its financial surplus in support of both capitalist production and circulation.
Moreno-Ramírez, David; Ferrándiz, Lara; Ramírez-Soto, Gabriel; Muñoyerro, M Dolores
Variability in adjusted drug expenditures among clinical departments raises the possibility of difficult access to certain therapies at the time that avoidable expenditures may also exist. Nevertheless, drug expenditures are not usually applied to clinical practice variability analysis. To identify and quantify variability in drug expenditures in comparable dermatology department of the Servicio Andaluz de Salud. Comparative economic analysis regarding the drug expenditures adjusted to population and health care production in 18 dermatology departments of the Servicio Andaluz de Salud. The 2012 cost and production data (homogeneous production units -HPU-)were provided by Inforcoan, the cost accounting information system of the Servicio Andaluz de Salud. The observed drug expenditure ratio ranged from 0.97?/inh to 8.90?/inh and from 208.45?/HPU to 1,471.95?/ HPU. The Pearson correlation between drug expenditure and population was 0.25 and 0.35 for the correlation between expenditure and homogeneous production (p=0.32 and p=0,15, respectively), both Pearson coefficients confirming the lack of correlation and arelevant degree of variability in drug expenditures. The quantitative analysis of variability performed through Pearson correlation has confirmed the existence of drug expenditure variability among comparable dermatology departments. Copyright © 2013 SEFH. Published by AULA MEDICA. All rights reserved.
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...
Full Text Available The aim of this paper is to test empirically the effect of human capital investment on economic development by using time series methods for the period 1981–2006 in Turkey. We employ the real per capita growth rate as a depented variable and physical capital and human capital as indepented variables. Growth rate of total fixed capital is used for total physical capital variables. In case of human capital; the share of total education expenditure in GDP, the share of total health expenditure in GDP and rate of school enrollment are used by turns. The main hypothesis is to test whether the primal factor is human capital in Turkish economic development. To test this hypothesis we use Romer’s (1990 Endogenous Technological Change Model (ETCM. The Engle-Granger two step co-integration method is used with time series.The econometric results indicate that physical and human capital accumulation affects positively Turkish economic development. But, when we apply model selection criterion, the main result of this paper show that the Turkish economy has acchieved endogenous growth depending on physical capital rather than human capital.
... unlevel playing field between banking organizations and other financial services providers. For example, a... for banking organizations. The final rule consolidates three separate notices of proposed rulemaking... minimum capital requirement, a higher minimum tier 1 capital requirement, and, for banking organizations...
Full Text Available In the 1960s, a ânewâ marketing concept known as "four Ps marketing mix" appeared and shifted the focus from the product to the customer. The objective of the new concept was not only profit, and the means of achieving the objective expanded to include the entire âmarketing mixâ: product, price, promotion, and place (channels and distribution. Expenditures of marketing in a company should be explored from these mixes, because each mix would have an impact on the total marketing expenditures. These four mixes are the main aspects of marketing and thus, should represent almost all expenditures in marketing in a company. From this research it is discovered that the responding contractors have only average efforts to improve or innovate their service, mostly using the latest construction methods and management approach. Correlated to their policy in the fourth mix (Place, they are still national oriented and not international oriented in marketing their services, this may lead to the big question of their survival; their motivation to innovate is only average while their target market is only national market. Their attitude to use more intensive âfeesâ policy rather than both product innovation and promotion is also interesting. Big percentage of the responding contractors assumes these âfeesâ are regular marketing practices. This attitude may better be stopped to make the construction industry practices healthier. Attitude to use more product innovation and true promotion approach in marketing in construction must be encouraged systematically in the future, to improve competitiveness in the long term.
Body energy balance is regulated in adults. The accuracy of the phenomenon is particularly evident in laboratory animals under steady conditions. Moreover, it has been repeatedly demonstrated that this balance is maintained in spite of fluctuations in food intake or energy expenditure. When animals such as rats, dogs or rabbits are presented with a diluted or concentrated version of familiar food, they compensate rapidly by increasing or decreasing their ponderal intake. This is achieved first by a change in meal frequency, then meal size adapts to the new caloric content and meal frequency returns to the original pattern. This adaptation is based on the learning of post-ingestive cues. Hypo or hyperphagia leads to reduced or increased energy expenditure, as the case may be; the basal metabolic rate is modulated by thyroid hormones and diet-induced thermogenesis by the sympathetic system. These variations are partly regulatory. In a cold environment, the increase in energy expenditure caused by increased thermogenesis is rapidly compensated by increased caloric intake. Physical activity activates the sympathetic system responsible for numerous hormonal changes, the most important of which is insulin hyposecretion. In animals or humans, moderate aerobic exercise induces a small weight loss; afterwards, weight gain is normalized and increased caloric intake compensates for energy expenditures such as exercise, increased basal metabolic rate and diet-induced thermogenesis. Extreme changes in body weight and fat are produced by gestation and lactation; they are satisfactorily explained by concomitant hormonal changes. Especially during lactation, food intake is regulated so that it allows body weight to return to pregestation level. Studies on the mechanisms implicated in the regulation of body energy balance are still in progress. Friedman and Ramirez (1985) suggest that the way fatty acids are utilized is important. Kasser et al. (1985) show a striking difference in
Echouffo-Tcheugui, Justin B; Bishu, Kinfe G; Fonarow, Gregg C; Egede, Leonard E
Population-based national data on the trends in expenditures related to heart failure (HF) are scarce. Assessing the time trends in health care expenditures for HF in the United States can help to better define the burden of this condition. Using 10-year data (2002-2011) from the national Medical Expenditure Panel Survey (weighted sample of 188,708,194US adults aged ≥18years) and a 2-part model (adjusting for demographics, comorbidities, and time); we estimated adjusted mean and incremental medical expenditures by HF status. The costs were direct total health care expenditures (out-of-pocket payments and payments by private insurance, Medicaid, Medicare, and other sources) from various sources (office-based visits, hospital outpatient, emergency department, inpatient hospital, pharmacy, home health care, and other medical expenditures). Compared with expenditures for individuals without HF ($5511 [95% CI 5405-5617]), individuals with HF had a 4-fold higher mean expenditures of ($23,854 [95% CI 21,733-25,975]). Individuals with HF had $3446 (95% CI 2592-4299) higher direct incremental expenditures compared with those without HF, after adjusting for demographics and comorbidities. Among those with HF, costs continuously increased by $5836 (28% relative increase), from $21,316 (95% CI 18,359-24,272) in 2002/2003 to $27,152 (95% CI 20,066-34,237) in 2010/2011, and inpatient costs ($11,318 over the whole period) were the single largest component of total medical expenditure. The estimated unadjusted total direct medical expenditures for US adults with HF were $30 billion/y and the adjusted total incremental expenditure was $5.8 billion/y. Heart failure is costly and over a recent 10-year period, and direct expenditure related to HF increased markedly, mainly driven by inpatient costs. Copyright © 2017 Elsevier Inc. All rights reserved.
National Capital Planning Commission — Transcripts of the monthly (with the exception of August) National Capital Planning Commission meeting transcripts are provided for research to confirm actions taken...
Full Text Available The study of human capital relevance to economic growth is becoming increasingly important taking into account its relevance in many of the Sustainable Development Goals proposed by the UN. This paper conducted a panel regression analysis of selected SE European countries and Scandinavian countries using the Granger causality test and pooled panel regression. In order to test the relevance of human capital on economic growth, several human capital proxy variables were identified. Aside from the human capital proxy variables, other explanatory variables were selected using stepwise regression while the dependant variable was GDP. This paper concludes that there are significant structural differences in the economies of the two observed panels. Of the human capital proxy variables observed, for the panel of SE European countries only life expectancy was statistically significant and it had a negative impact on economic growth, while in the panel of Scandinavian countries total public expenditure on education had a statistically significant positive effect on economic growth. Based upon these results and existing studies, this paper concludes that human capital has a far more significant impact on economic growth in more developed economies.
... participate in the decision-making process of any person, such as a corporation, labor organization, political... activities, such as decisions concerning the making of contributions, donations, expenditures, or... party for the purchase or construction of an office building. See 11 CFR 300.10 and 300.35. (e...
Full Text Available Objective: The main objective of this study is to define and operationalize the concept of immigrant capital, a key factor that differentiates immigrant from host country entrepreneurs in how they recognize and start new ventures. Research Design & Methods: A detailed analysis of contemporary immigrant entrepreneurship and opportunity recognition literature was carried out. Using grounded theory, we synthesized the outcomes from the analysis of eight Canadian and U.S. case studies of successful immigrant entrepreneurs with the key findings from the literature to define and develop a model of immigrant capital. Findings: Based on our grounded theory development process we show that the concept of immigrant capital as a distillate of human, cultural, economic and social capital that goes beyond expected opportunity recognition (OR drivers like prior knowledge and prior experience to differentiate and enhance the immigrant entrepreneur’s ability to recognize business opportunities compared to host country entrepreneurs. We found immigrant capital to be a consequence of being boundary spanners in host and home country networks. Implications & Recommendations: Understanding a unique resource like immigrant capital, will help immigrant as well as host country entrepreneurs further develop their opportunity recognition ability by bridging gaps and fulfilling the needs for both, immigrant and host country consumers. Contribution & Value Added: The main contribution is the theoretical development, identification and definition of the immigrant capital model and propositions that will articulate the factors that lead to the conceptualization and operationalization of immigrant capital. Furthermore, the immigrant capital model can serve host country entrepreneurs to develop cross-cultural networks and jump-start entrepreneurial activities in their home countries as well as learn how to expand their operations into global markets.
Tang, Chor-Foon; Lau, Evan
The present study attempts to re-investigate the behaviour of disaggregated public expenditures data and national income for Malaysia. This study covers the sample period of annual data from 1960 to 2007. The Bartlett-corrected trace tests proposed by Johansen (2002) were used to ascertain the presence of long run equilibrium relationship between public expenditures and national income. The results show one cointegrating vector for each specification of public expenditures. The relatively new...
Lisa Farrell; Michael A. Shields
We investigate expenditure behaviour of school-aged children using child diary information contained in the British Family Expenditure Survey. The estimates from an Almost Ideal Demand System (AIDS) for child expenditure suggest that drinks, sweets, books, and toys are `normal' goods for children, but clothes, travel, leisure and vice products are `luxury' items with income elasticities greater than one. Being a lone-parent child and having a working mother are important factors in determinin...
This article begins by emphasizing that the number and intensity of armed conflict has fallen substantially but that military expenditure levels in sub-Saharan Africa have nonetheless increased, largely as a result of South African expenditure. The article attempts to answer two questions. First, how can the budget of the security sector be allocated so as to result in effective and efficient security outcomes? Second, how can an appropriate level of military expenditure for a country be dete...
Yen, Steven T.; Kasteridis, Panagiotis P.; Riley, John B.
This study investigates the differentiated effects of economic and socio-demographic variables on food away from home (FAFH) expenditures by type of facility among elderly households in the United States. Using data from the 2008–2010 Consumer Expenditure Surveys, the systems of expenditures on full-service, fast food, and other restaurants are estimated with a multivariate sample selection estimator which also accommodates heteroscedasticity in the error distribution. Statistical significanc...
Adrián Osvaldo Ravier
Full Text Available The essay examines Schumpeter’s understanding of the capitalist process and develops a critical analysis of his explanation of why capitalism cannot survive. Part I deals with how Schumpeter understood capitalism. Part II studies why –- from his point of view — capitalism couldn’t survive. Part III analysis why it is actually socialism, as a socio-political alternative, that is impractical and must collapse from contradictions inherent in it. Part IV presents some final reflections, presenting the public choice and the thought of James M. Buchanan, as an alternative to the pessimist Schumpeterian view.
A theoretical argument is presented to suggest that engineering curriculum be designed to develop social capital. Additionally, the value of social capital in the retention of students in the College of Engineering, and the development, role, and value of social capital in an electrical engineering laboratory is evaluated. Data collected includes participant observations, informal and formal student interviews, and a researcher-designed survey. Social capital consists of interaction among individuals (networks), social rules that encourage interactions such as trust and reciprocity (norms), and the value of these networks and norms to the individual and the group. A large body of evidence suggests that social capital is valuable in terms of retention and multiple measures of academic achievement. The importance of social capital in retention was verified by students that have left engineering and those that remain, in terms of interactions with peers, teaching assistants, and engineering faculty; and a lack of sense of community in freshman engineering courses. Students that have left engineering differed in their perceptions of social capital from those that remain in their frustrations with teaching methods that encourage little discussion or opportunities to ask questions about assumptions or approaches. The open-ended nature of laboratory assignments, extensive required troubleshooting, and lack of specific directions from the teaching assistants were found to encourage the development of social capital in the laboratory setting. Degree centrality, a network measure of social capital as the number of ties an individual has within a social network, was found to be positively correlated with laboratory grade. Student perceptions of the importance of interactions with other students on success in the laboratory setting has a negative model effect on academic achievement in the laboratory. In contrast, student perceptions of the quality of interactions with
Full Text Available Tourism activities affect the environment of different destinations, which is influenced by different tourists’ consumption. The objective of this study is to examine the relationship between inbound tourist expenditures and three main environmental dimensions, which are carbon dioxide emission from transport, energy demand, and water usage, in Thailand. This paper employs Vector Autoregressive (VAR models to determine the relationship of variables. Data from Ministry of Energy, Bank of Thailand, Metropolitan Electricity Authority, Provincial Waterworks Authority, National Statistical Office, Department of Tourism, and Tourism Authority of Thailand between 1988 and 2012 have been applied in the model. Note that, energy demand is represented by total electricity consumption of hotel and accommodation sector in Thailand, while water usage is represented by the total water consumption of tourists. This study found the relationships among tourists’ expenditures, carbon dioxide emission from transport, energy demand, and water usage. Therefore, the policies recommendations may be essential to prepare the optimal schemes and budgets for encountering the environmental impacts from tourism business expansion.
The direct and indirect employment and employment income that can result from lifting the moratorium on British Columbia's west coast were estimated. Jobs and income are the two socio-economic benefits that generate the most concern at the local, provincial and national levels. The estimates are based on the development scenarios of one natural gas project in the Hecate Strait, and one oil project in the Queen Charlotte Sound. It was noted that a significant component of the potential socio-economic benefits from offshore development in British Columbia will result from project investment expenditures. Statistics Canada's Input-Output Model was used to assess the total expenditure impacts at the national and provincial levels. The indirect impacts are relatively more important to the local economy because they deal mainly with accommodation, food, beverage, and transportation. The total impacts can be measured in terms of total revenues, gross domestic product, and wages and salaries. The nature of supplier services that may be required were also identified. It was estimated that with the combined impacts of construction and operations, the total Canadian gross domestic product will increase by $3.0 billion, most of which will accrue to British Columbia. refs., tabs., figs
Between 1991 and 1993, the natural gas industry will invest $28.297 billion to install additional facilities for natural gas production and storage, transmission, underground storage, gas distribution and for other general expenditures, estimates the American Gas Association as shown in the 1990 Gas Facts. This is a 38% investment increase from the forecasts in the 1989 Gas Facts. This issue forecasts investments of $13.303 billion for 1991 and $18.396 billion for 1992. This issue does not include investments for 1993. In 1989, (the last figures released) the gas industry invested $7,341 billion for new transmission lines, distribution mains, underground storage, production and storage and general facilities. Included in the 1989 expenditures are: $3.980 billion in distribution facilities; $2.081 billion in gas transmission systems and $159 million in underground storage facilities. Investment in new distribution facilities in 1991 and $4.550 billion in 1993. This is a steady increase for these three years. Investments in natural gas transmission facilities show a steady increase also. In 1991, pipe line operating companies will invest $9.391 billion for new facilities, $9.005 in 1992 and $9.901 billion in 1993
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.
Full Text Available In 2013 the Nobel Prize in Economic Sciences was awarded to the American economists, Eugene Fama, Lars Peter Hansen and Robert Shiller. The monetarists, Fama and Hansen, from the University of Chicago, and the Neo- Keynesian, Shiller, from the Yale University, according to the Swedish Royal Academy, won this prestigious prize for their research providing mathematical and economic models to determine (irregularities in the stock value trends at the stock exchanges. With his colleagues, in the 1960s Fama established that, in the short term, it is extremely difficult to forecast stock prices, given that new information gets embedded in the prices rather quickly. Shiller, however, determined that, although it is almost impossible to predict the stock prices for a period of few days, this is not true for a period of several years. He discovered that the stock prices fluctuate much more substantially than corporation dividents, and that the relationship between prices and dividends tends to decline when high, and to grow when low. This pattern does not apply only to stocks, but also to bonds and other forms of capital.
Monteon, F J; Laidlaw, S A; Shaib, J K; Kopple, J D
Although nondialyzed, chronically uremic patients and patients undergoing maintenance hemodialysis often show evidence for wasting and calorie malnutrition and have low dietary energy intakes, their energy expenditure has never been systematically evaluated. It is possible that low energy intakes are an adaptive response to reduced energy needs; alternatively, energy expenditure could be normal or high and the low energy intakes would be inappropriate. Energy expenditure was therefore measured by indirect calorimetry in 12 normal individuals, 10 nondialyzed patients with chronic renal failure, and 16 patients undergoing maintenance hemodialysis. Energy expenditure was measured in the resting state, during quiet sitting, during controlled exercise on an exercise bicycle, and for four hours after ingestion of a test meal. Resting energy expenditure (kcal/min/1.73 m2) in the normal subjects, chronically uremic patients and hemodialysis patients was, respectively, 0.94 +/- 0.24 (SD), 0.91 +/- 0.20, and 0.97 +/- 0.10. There was also no difference among the three groups in energy expenditure during sitting, exercise, or the postprandial state. Within each group, energy expenditure during resting and sitting was directly correlated. During bicycling, energy expenditure was directly correlated with work performed, and the regression equation for this relationship was similar in each of the three groups. These findings suggest that for a given physical activity, energy expenditure in nondialyzed, chronically uremic patients and maintenance hemodialysis patients is not different from normal. The low energy intakes of many of these patients may be inadequate for their needs.
Full Text Available The purpose of this research is to examine the influence of intellectual capital and its components, represented by physical capital (capital employed, human capital, and structural capital,on financial performance of mining and manufacturing companies listed in Indonesia Stock Exchange (Bursa Efek Indonesia – BEI period of 2010 – 2012. Total population observed during this research shows 169 mining and manufacturing companies.The sample was determined by purposive sampling method and found a total of 70 samples as the research subjects. The analytical technique for the quantitaive data uses a statistical tool, i.e. multiple regression. Intellectual capital and its components were measured by Pulic Model, while financial performance uses Return on Equty (ROE ratio. The results show that intellectual capital and human capital have negative influence, yet insignificant, impacton companies financial performance. While physical capital (capital employed and structural capital do have positive influence but not significanton companies financial performance.
Agrawal, Praween; Agrawal, Sutapa
Obesity is a multifaceted problem with wide-reaching medical, social and economic consequences. While health consequences are much known, but due to paucity of data, economic consequences are less known in India. The prevalence for excessive weight particularly among women population has been increasing dramatically in India in the last decades. We examined the economic burden on individual and households due to overweight and obesity among women in the national capital territory of India, Delhi. We particularly examined the health expenditure pattern in absolute amount as well as a proportion to their household expenditure among women according to their level of body mass index (BMI). A population based follow-up survey of 325 ever-married women aged 20-54 years residing in the national capital territory of Delhi in India, systematically selected from the second round of National Family Health Survey (NFHS-2, 1998-99) samples who were re-interviewed after four years in 2003. Women's expenditure on health has been seen as a gross and as a ratio of total household expenditure. Anthropometric measurements were obtained from women to compute their current body mass index. Multiple logistic regression analysis was used to estimate the odds ratios adjusting for various socio demographic confounders. A significantly (peconomic burden which accounts for more than 5% of their total household expenditure on their health compared to only 10% normal weight women. Significantly, obese and morbidly obese women were more than two times more likely to spend higher amount on their health (OR 2.29 95% CI: 1.07-4.90; p=0.033) than normal weight women. Also overweight women were significantly two times more likely to spend high proportion on their health with respect to total household expenditure (OR 2.11; 95% CI: 1.03-4.35; p=0.042) than normal weight women. There is substantial economic burden of obesity for individuals as well as for the households which calls for urgent
Porteous, Bruce; Tapadar, Pradip
The impact that capital structure and capital asset allocation have on financial services firm economic capital and risk adjusted performance is considered. A stochastic modelling approach is used in conjunction with banking and insurance examples. It is demonstrated that gearing up Tier 1 capital with Tier 2 capital can be in the interests of bank Tier 1 capital providers, but may not always be so for insurance Tier 1 capital providers. It is also shown that, by allocating a bank or insuranc...
Prieur, Annick; Savage, Mike
assessment of the arguments made, including those made in the studies we have been involved in ourselves (the study of cultural capital and social exclusion in the UK, and the study of the Danish city Aalborg). Secondly, the paper looks into the different claims that are made in empirical studies after...... - the claims that there are forms of emotional, subcultural or national cultural capital at work - The claim about cosmopolitanism or an international orientation as a distinctive feature of the culturally privileged classes The paper responds to the first theme announced in the call for this conference......This paper reviews recent European studies to assess whether cultural capital now has the same characteristics – or may be rather the same functions - as when Distinction was written. The paper will examine empirical applications of the concept of cultural capital in leading European studies...
Full Text Available The purpose of this paper is to examine the association between corporate governance and Intellectual capital in the pharmaceutical companies accepted in Tehran Stock Exchange over the period 2004-2009 using a regression based model. The study investigates the impacts of three some independent variables of the corporate governance (i.e. the number of board members, the relative extent of nonexecutive to executive directors, the auditing committee. The results suggest that corporate governance had no special effect on intellectual capital in the pharmaceutical companies. Furthermore among corporate governance's variables, the first one (i.e. board size had negative impact on firms' intellectual capital and the second and the third variables had no effects on intellectual capital.
Modern economic growth stems in good part from investments in knowledge-based intangible assets, such as research and development (R&D), organisational know-how, product design, branding and marketing. By capitalising expenditures on these intangibles as business investments, this thesis
Vladimir Nikiforovich Belkin
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
Full Text Available Created in the United States of America, Venture Capital is an asset class which attracted recently the attention of the policy makers all over the world. But the concept is still not clearly defined and understood. This paper attempts at introducing in the concept, its characteristics, and reviewing some of the benefits Venture Capital investments can bring at both the macroeconomic level, by looking at the correlation with the economic growth, and at the microeconomic level, for the portfolio companies.
This paper reviews capital taxation issues in Italy based on a comprehensive definition encompassing taxes on income, transactions, and ownership. It discusses options to enhance the neutrality of the capital income tax system, followed by a detailed analysis of the property tax, the inheritance tax, and various transaction taxes. The paper also examines the case for replacing the set of existing taxes on financial and real assets with a single net wealth tax.
Kirill G. Skripkin
Full Text Available The paper describes a new approach to the description of organizational capital in enterprise architecture. This approach is focused on internal consistency of organizational mechanisms and their fit to the requirements of technologies in use and key employees. The description rests on Henry Mintzberg organizational design theory. The value of this description is demonstrated for the case of influence of Ministry of Education and Science policy on the organizational capital of the Russian university.
Hughes, K.R.; Brown, D.R.
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
Pihl, Patricia; Albertsen, Karen; Hogh, Annie; Andersen, Lars Peter Sønderbo
Workplace bullying is a serious stressor with devastating short- and long-term consequences. The concept of organizational social capital may provide insights into the interactional and communicative dynamics of the bullying process and opportunities for prevention. This study aimed to explore the association between organizational social capital and being a target or observer of workplace bullying. Based on self-reported cross-sectional data from a large representative sample of the Danish working population (n = 10.037), logistic regression analyses were conducted to explore at the individual level the associations between vertical and horizontal organizational social capital with being a target or observer of workplace bullying. In the fully adjusted models, low organizational social capital (vertical and horizontal) was associated with significantly increased odds ratios of both self-labelled (vertical: OR = 3.25; CI = 2.34-4.51; horizontal: OR = 3.17; CI = 2.41-4.18) and observed workplace bullying (vertical: OR = 2.09; CI = 1.70-2.56; horizontal: OR = 1.60; CI = 1.35-1.89), when compared with high organizational social capital. This study supports that characteristics of the psychosocial work environment are of importance in the development of workplace bullying, and provides focus on the importance of self-reported organizational social capital.
Full Text Available The paper highlights the role of education in the growth of economic competitiveness and efficiency of human capital, in accordance with the quality of education and investments in human resources, in order to enhance labour productiveness. The paper starts by a brief analysis of Romania’s educational system, by comparison with the EU countries, analysing the number of high school students / college students per teacher, the percentage of education expenditure in the GDP, the correlation between the labour force’s training level and insertion into the labour market. The paper also presents the EU countries’ ranking related to higher education and professional training, pointing out the importance of lifelong professional training at the place of work. The paper draws conclusions regarding the importance of the labour force training, as the operation of a modern economy requires the existence of a well-trained labour force, education representing one of the fundamental pillars of any society’s development.
There has been a recent surge of interest in social economics and social capital. Articles on social capital that are published in the last five years constitute more than 60 percent of all articles on social capital. Research on social capital is now massive and spans sociology, economics, management, political science and health sciences. Despite this interest there is still not a consensus on the definition and the measurement of social capital. This paper argues that this is due to lack o...
The purpose of this paper is to develop a conceptual framework for the evolution offinancial reporting on capital market. Due to the worlwide changes, the role of financial reportingin capital market is constantly growing. Financial reporting analyzed through market perspective isstrongly correlated with issues like: capital allocation, financial statements, internationalaccounting standards and informational valences. Capital market research emphasizes the need forqualitative and transparent...
... requirement, the leverage ratio requirement, the tangible capital requirement, or individual minimum capital... capital directive, it may become effective immediately. A capital directive shall remain in effect and... plan shall continue in full force and effect. (b) Relation to other administrative actions. The Office...
This contribution introduces the notion of social capital and discusses integration into the studies on internationalization of smaller firms and entrepreneurs. Integrating social capital into the resource based perspective, we categorize social capital at three levels: firstly, social capital can...... be attributed to individuals, affecting their relationship with the external environment. Secondly, social capital is an inherent property of networks, into which smaller firms and entrepreneurs are embedded. Thirdly, social capital exists at the macro level, where its characteristics and availability varies...... between environments and nations. This contribution attemps to fascilitate the operationalization of social capital for an improved understanding of processes of internationalization of smaller firms and entrepreneurs....
Mónica Consuelo Rodríguez Torres
Full Text Available This paper seeks to test the hypothesis that social public expenditure per capita invested in Bogota has had a significant influence on the improvement of the city’s human development. For this purpose, the Human Development Index (HDI for the capital between 1995-2010 is estimated, using the new methodology proposed by the UNDP in 2010. Thus, a retrospective estimation of the life expectancy, salaries, and educational achievement rates is carried out, the last as a combination between the average years of education and expected years of instruction. A qualitative analysis is then presented, between the HDI components and the social public expenditure invested through politics, programs, projects carried out in the city, according to the District Development Plan “Bogotá positiva, para vivir mejor (Positive Bogota, to Live Better”. Finally, a quantitative analysis of this relation is made and it is concluded that social public spending per capita is significant to explain the HDI, since there is a long-term and stable relation between the two variables.
Full Text Available The concept of social capital has a long intellectual history in the fie ld of social sciences. In recent years, interest of scholars from sociology, po litical science, economics and public administration is rapidly increasing. The reason for this increasing interest is that it has been aware of the importance of social capital in communities’ administrative, social, economic and political development. In this sense, the concept of social ca pital is an issue to be discussed with solution of current problems of public administration, subjects of governance, civil society, and participation. Social capital has a lot of definitions which are completely different from each other. Common point of these different definitions is that social capital is a resource at both individual and community level. We will use Robert Putnam’s defi nition about social cap ital in this paper. Putnam (1993 defines social capital as “features of social organization, such as trust, norms, and networks that can improve the efficiency of society by facilitating coordinated action”. In his book; Bowling Alone: The Collapse and Revival of the American Community, Putnam describes declining social capital in America. He analyzes relationship between social capital and civic participation and assumes that there is a positive relationship between social capital and civic participation. The paper aims to reveal how there is a relationshi p between social capital and civic participation in Central Florida. We will use “The Central Florida Social Capital Community Benchmark Survey that is made by The Survey Research Labora tory in the Ins titute for Social and Behavior Sciences at the University of Central Florida among central Florida residents. We use notion of civic participation not only as voting but also as concern of politics, volunteering, attending a political meeting, participating in any demonstrations, protests or boycotts, cooperating to solve problems and
Full Text Available This article entitled Statistical Models of Representing Intellectual Capital approaches and analyses the concept of intellectual capital, as well as the main models which can support enterprisers/managers in evaluating and quantifying the advantages of intellectual capital. Most authors examine intellectual capital from a static perspective and focus on the development of its various evaluation models. In this chapter we surveyed the classical static models: Sveiby, Edvisson, Balanced Scorecard, as well as the canonical model of intellectual capital. Among the group of static models for evaluating organisational intellectual capital the canonical model stands out. This model enables the structuring of organisational intellectual capital in: human capital, structural capital and relational capital. Although the model is widely spread, it is a static one and can thus create a series of errors in the process of evaluation, because all the three entities mentioned above are not independent from the viewpoint of their contents, as any logic of structuring complex entities requires.
Shah, Rachana; Tershakovec, Andy M.; Zemel, Babette S.; Sutton, Leslie N.; Grimberg, Adda; Moshang, Thomas
Background and purpose Obesity is a common yet incompletely understood complication of childhood craniopharyngioma. We hypothesized that craniopharyngioma is associated with specific defects in energy balance compared to obese control children. Methods Eleven craniopharyngioma patients were recruited for a study on body composition and energy balance. Eight subjects were obese. The obese craniopharyngioma patients had a mean age (±SD) of 11.2±1.7 years. The average body mass index z score was 2.33 (±0.32). A previously studied group of obese children (BMI z score 2.46±0.46) served as controls. Resting energy expenditure (REE) was determined by indirect calorimetry and body composition by dual energy X-ray absorptiometry in all children. Results Obese craniopharyngioma patient subjects had increased mean (±standard error) fat-free mass compared to obese controls (57%±0.88 % vs 50.0%±0.87%, p=0.02). The obese craniopharyngioma patients had a 17% lower REE compared to values expected from the World Health Organization equation (1,541±112.6 vs 1,809±151.8 kcal; p=0.01). In contrast, the obese control children had measured REE within 1% of predicted (1,647±33.2 vs. 1,652±40.2; p=0.8). In a linear regression model, REE remained significantly lower than predicted after controlling for FFM. Conclusions Lower REE may be a factor contributing to obesity in children with craniopharyngioma. Further study is needed into the mechanisms for reduced energy expenditure in patients with craniopharyngioma. PMID:20107994
Full Text Available Equity isone of the basic principles of health systems and features explicitly in theNigerian health financing policy. Despite acclaimed commitment to theimplementation of this policy through various pro-poor health programmes andinterventions, the level of inequity in health status and access to basichealth care interventions remain high. This paper examines the equity of healthcare expenditure by individuals in Nigeria. The paper evaluated equity in out-of-pocketspending( OOP for the country and separately for the six geopolitical zones ofthe country.The methodological framework rests onKakwani Progressivity Indices (KPIs, ReynoldSmolensky indices andconcentration indices (CIs using data from the 2004 Nigerian National LivingStandard Survey( NLSS collected by the National Bureau of Statistics. .The results reveal that health financing isregressive with the incidence disproportionately rest on poor households withabout 70% of the total expenditure on health is through out-of-pocket paymentsby households. Poor households are prone to bear most of the expenses in theevent of any health shock. The catastrophic consequences thus push some intopoverty, and aggravate the poverty of others.The paper therefore suggests that thecountry’s health financingsystems must be designed not only to allow people to access services when theyare needed, but must also protect household, from financial catastrophe, byreducing OOP spending through risk pooling and prepayment schemes within thehealth system.Keywords: Equity, Health careexpenditure, Kakwani progressivity index, Nigeria.
... 25 Indians 1 2010-04-01 2010-04-01 false Diligence; annual expenditures; mining records. 214.13... OSAGE RESERVATION LANDS, OKLAHOMA, FOR MINING, EXCEPT OIL AND GAS § 214.13 Diligence; annual expenditures; mining records. (a) Lessees shall exercise diligence in the conduct of prospecting and mining...
Therefore, based on overall results it is concluded that, the PLSP is technically more appropriate technology or method for reducing energy expenditure and for increasing productivity during timber harvesting in agroforestry farms. Keywords: Productivity, Energy expenditure, Pitsawing and Portable log sawing. Rwanda ...
CONCLUSION: The relationship between expenditure and use of different vector control depends on the geographic location of respondents. People living in the rural areas spend more to have access to malaria control tools. Location of respondent has a positive effect on expenditures and use of malaria control tools.
Erik Thibaut; Steven Vos; Jeroen Scheerder
The purpose of this article is to explore the determining factors of household expenditures on sports participation. Due to a relatively large amount of zero-expenditures, simple regression methods are not suited. Because of methodological reasons, the two-step Heckman approach is used over the
Full Text Available A view prominently expounded is that the interaction between the composition and the volume of public expenditures is directly affected by political, institutional, psephological and ideological indicators. A crucial component of public expenditures, social expenditures play an important role in the economy as they directly and indirectly affect the distribution of income and wealth. Social expenditures aim at reallocating income and wealth unequal distribution. These expenditures comprise cash benefits, direct in-kind provision of goods and services, and tax breaks with social purposes.The aim of this study is to determine the relationship between political structure, i.e. government fragmentation, ideological composition, elections and so on, and the social expenditures in Greece. Employing data from the Comparative Political Dataset (CPDS and the OECD Social Expenditure Database (SOCX, a time series analysis was conducted for Greece for the 1980-2014 period. The findings of the study indicate that voter turnout, spending on the elderly population and the number of government changes have positive and statistically significant effects on social expenditures in Greece while debt stock and cabinet composition have negative effects.
Linnemann, L.; Schabert, A.
This paper assesses the transmission of fiscal policy shocks in a New Keynesian framework where government expenditures contribute to aggregate production. It is shown that even if the impact of government expenditures on production is small, this assumption helps to reconcile the models'
Finally Generalized Methods of Moments (GMM) is applied to answer the two research questions. The results demonstrate that increasing government expenditure accelerates economic growth of low income countries in Sub Saharan Africa. However, when government expenditure is interacted with government efficiency ...
... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Budget and expenditure. 982.157... and PHA Administration of Program § 982.157 Budget and expenditure. (a) Budget submission. Each PHA fiscal year, the PHA must submit its proposed budget for the program to HUD for approval at such time and...
Since 1960, the U.S. Department of Agriculture has provided estimates of expenditures on children from birth through age 17. This technical report presents the most recent estimates for husband-wife and single-parent families, using data from the 1990-92 Consumer Expenditure Survey, updated to 1997 dollars using the Consumer Price Index. Data and…
Since 1960, the U.S. Department of Agriculture has provided estimates of expenditures on children from birth through age 17. This technical report presents the most recent estimates for husband-wife and single-parent families, using data from the 1990-92 Consumer Expenditure Survey, updated to 1999 dollars using the Consumer Price Index. Data and…
Since 1960, the U.S. Department of Agriculture has provided estimates of expenditures on children from birth through age 17. This technical report presents the most recent estimates for husband-wife and single-parent families, using data from the 1990-92 Consumer Expenditure Survey, updated to 1998 dollars using the Consumer Price Index. Data and…
Since 1960, the U.S. Department of Agriculture has provided estimates of expenditures on children from birth through age 17. This technical report presents the most recent estimates for husband-wife and single-parent families, using data from the 1990-92 Consumer Expenditure Survey, updated to 2000 dollars using the Consumer Price Index. Data and…
Since 1960, the U.S. Department of Agriculture has provided estimates of expenditures on children from birth through age 17. This technical report presents the most recent estimates for husband-wife and single-parent families, using data from the 1990-92 Consumer Expenditure Survey, updated to 2001 dollars using the Consumer Price Index. Data and…
Since 1960, the U.S. Department of Agriculture has provided estimates of expenditures on children from birth through age 17. This technical report presents the most recent estimates for husband-wife and single-parent families, using data from the 1990-92 Consumer Expenditure Survey, updated to 2002 dollars using the Consumer Price Index. Data and…
Zhang, Liang; Ehrenberg, Ronald G.
This study uses panel data to examine the relationship between faculty employment and external R&D expenditures at Research and Doctoral institutions over a 15-year period of time. On average, a 1% increase in the number of full-time faculty is associated with about 0.2% increase in total R&D expenditure. Further, a one percentage point increase…
... capitalized Banks. 1229.5 Section 1229.5 Banks and Banking FEDERAL HOUSING FINANCE AGENCY ENTITY REGULATIONS CAPITAL CLASSIFICATIONS AND PROMPT CORRECTIVE ACTION Federal Home Loan Banks § 1229.5 Capital... classification of adequately capitalized. A Bank may not make a capital distribution if such distribution would...
Ewing, Samuel D., Jr.; Maloney, Clifton H. W.
This minority capital resource handbook consists of a guide to raising capital for minority entrepreneurs and a listing of sources that provide such capital. The first section deals with the process of raising capital. The realities of raising capital, intermediaries and financial advisors, and assessing needs are outlined. Factors considered in…
Danthine, Jean-Pierre; Jin, Xiangrong
Recent studies have found unmeasured intangible capital to be large and important. In this paper we observe that by nature intangible capital is also very different from physical capital. We find it plausible to argue that the accumulation process for intangible capital differs significantly from the process by which physical capital accumulates. We study the implications of this hypothesis for rational firm valuation and asset pricing using a two-sector general equilibrium model. Our main fi...
This paper studies income-redistribution effects from labor migration in a small open economy under alternative assumptions on the international mobility of capital. Our principal result is that induced international capital flows dampen or may even reverse redistribution effects. However, as long as the location of capital is unaffected by migration redistribntion effects may be greater if some of the capital is foreign owned, depending on whether labor and capital are friends or enemies. On...
Trogdon, Justin G; Finkelstein, Eric A; Hoerger, Thomas J
To investigate the use of regression models to calculate disease-specific shares of medical expenditures. Medical Expenditure Panel Survey (MEPS), 2000-2003. Theoretical investigation and secondary data analysis. Condition files used to define the presence of 10 medical conditions. Incremental effects of conditions on expenditures, expressed as a fraction of total expenditures, cannot generally be interpreted as shares. When the presence of one condition increases treatment costs for another condition, summing condition-specific shares leads to double-counting of expenditures. Condition-specific shares generated from multiplicative models should not be summed. We provide an algorithm that allows estimates based on these models to be interpreted as shares and summed across conditions.
Full Text Available The paper deals with development and changes in consumption expenditures of population. It uses secondary data to analyze consumption expenditures of EU-25 and the Czech Republic and concetrates on changes in the expenditure groups over the period of past years. Other part of this paper is devoted to primary data analysis. Primary data were obtained in a questionnaire survey. Primary data analysis is based on statistical methods and it investigates changes in the structure of consumption expenditures of households in relation to changes in household income. By using dependency analysis the paper verifies dependency of surveyed groups of consumption expenditures and groups of households sorted by identification characteristics. Additionally, also based on the primary research, the paper tries to find out the way households allocate money surplus remaining after covering all the adequate expenses.
Full Text Available The age of household members is an important factor for expenditures. The aim of the study is to investigate the level of expenditure on restaurants and hotels incurred in Polish households of the elderly in 2004-2013 and to identify the factors affecting such expenditures. The source of information used in the study was the household budget survey of the Central Statistical Office of Poland. The main methods used in this study were variance analysis and regression analysis. Restaurants and hotels expenditure increases every year together with their share in total household expenditure. The most important factors affecting the restaurants and hotels spending in Polish households of the elderly are: income per capita and the level of education of the head of the family. The study on consumption determinants at different groups leads to better understanding of consumer behavior circumstances and thereby ensuring a good quality of life for the people of the elderly.
Full Text Available What type of capitalism do we live in today? My answer to this question draws upon two interrelated lines of argument. Firstly, I will argue that we inhabit an epoch of global capitalism. The precursors of this kind of capitalism originated from the late nineteenth century when the development of telegraph networks, modern transport systems and world time zones provided a global template for industrialisation and Western imperialism. From about 1980 a confluence of global events and processes bought a fully-fledged global capitalism into being. These included the collapse of Fordist Keynesianism, national Keynesianism and Soviet Communism along with First, Second and Third World demarcations; the international proliferation of neo-liberal policy regimes; the growth of transnational corporations in all economic sectors; the predominance of financialisation and the reconstitution of global workforces. Secondly, I will argue that the shift from organic surface energy to underground fossil energy intertwined the time of the earth with the time of human history as nature was being instrumentalised as a resource for humanity. Understanding the capitalist relations of power involved here requires that we rethink the emergence of industrial capitalism in the historical context of a world system built upon unequal socio-ecological exchange between core and periphery. Today, global capitalism has intensified the anthropogenic feedback loops associated with CO2 emissions and climate change and universalised the organisational frameworks of profit extraction and socio-ecological destruction. I refer here to the transnational systems of fossil fuel capitalism along with their interlinkages with financialisation and advertising/commodity fetishism. From the preceding lines of argument I will briefly outline the intra-capitalist and planetary-ecological crises out of which transnational coalitions of opposition might emerge.
Arterburn, D E; Maciejewski, M L; Tsevat, J
Morbid obesity (body mass index (BMI) > or =40 kg/m2) is associated with substantially increased morbidity and mortality from chronic health conditions and with poorer health-related quality of life; however, less is known about the impact of morbid obesity on healthcare expenditures. To examine the impact of morbid obesity on healthcare expenditures using a nationally representative sample of US adults. We performed a cross-sectional analysis of 16 262 adults from the 2000 Medical Expenditure Panel Survey, a nationally representative survey of the noninstitutionalized civilian population of the United States. Per capita healthcare expenditures were calculated for National Institutes of Health BMI categories, based on self-reported height and weight, using a two-part, multivariable model adjusted for age, gender, race, income, education level, type of health insurance, marital status, and smoking status. Odds of incurring any healthcare expenditure and per capita healthcare expenditures associated with morbid obesity in 2000. When compared with normal-weight adults, the odds of incurring any healthcare expenditure in 2000 were two-fold greater among adults with morbid obesity. Per capita healthcare expenditures for morbidly obese adults were 81% (95% confidence interval (CI): 48-121%) greater than normal-weight adults, 65% (95% CI: 37-110%) greater than overweight adults, and 47% (95% CI: 11-96%) greater than adults with class I obesity. Excess costs among morbidly obese adults resulted from greater expenditures for office-based visits, outpatient hospital care, in-patient care, and prescription drugs. Aggregate US healthcare expenditures associated with excess body weight among morbidly obese US adults exceeded $11 billion in 2000. The economic burden of morbid obesity among US adults is substantial. Further research is needed to identify interventions to reduce the incidence and prevalence of morbid obesity and improve the health and economic outcomes of morbidly
Patients with Parkinson's disease (PD) commonly exhibit weight loss, which investigators attribute to various factors, including elevated resting energy expenditure. We tested the hypothesis that daily energy expenditure (DEE) and its components, resting energy expenditure (REF) and physical activit...
Kerkhof, Annemarie C.; Nonhebel, Sanderine; Moll, Henri C.
In this paper we evaluate the relationships between household expenditures and the environmental impact categories climate change, acidification, eutrophication and smog formation, by combining household expenditures with environmentally extended input–output analysis. Expenditure elasticities are
Patients with Parkinson's disease (PD) commonly exhibit weight loss (WL) which investigators attribute to various factors, including elevated energy expenditure. We tested the hypothesis that daily energy expenditure (DEE) and its components, resting energy expenditure (REE) and physical activity (P...
Robinson, J C
Medical groups need financial resources yet most retain no earnings and have no reserves. Physician practice management (PPM) companies have recognized the need for investment and the scarcity of indigenous capital in the physician sector and are rushing to fill the void. Resources are being contributed by venture capitalists, bond underwriters, private investors, pharmaceutical manufacturers, health plans, hospital systems, and public equity markets. The potential contribution of PPM firms is to nurture the intellectual capital of leading physician organizations and diffuse it throughout the health care system. The risk is that short-term financial imperatives will impede necessary long-term investments.
Jonathan Berk; Johan Walden
The non-tradability of human capital is often cited for the failure of traditional asset pricing theory to explain agents' portfolio holdings. In this paper we argue that the opposite might be true --- traditional models might not be able to explain agent portfolio holdings because they do not explicitly account for the fact that human capital does trade (in the form of labor contracts). We derive wages endogenously as part of a dynamic equilibrium in a production economy. Risk is shared in l...
ADETILOYE Kehinde Adekunle
Full Text Available Mortgage financing is one of the ways by which housing stocks are added and capital formation takes place in an economy. This paper examined the impact of the National Housing Fund (NHF, a government agency, in the process of capital formation in Nigeria. The paper adopted some key variables among which are capital formation, lending rate and capital expenditure and the various aspects of mortgage loans in the economy. The paper employed the Two Stage Least Square (2SLS techniques to measure the impact of the various units. It discovers that the mortgage loan generally is significant and insurance companies advances for mortgage is also significant while the National Housing Fund (NHF is not significant. This is however due to many problems bedevilling the Fund. The paper recommends among others, the deepening of the mortgage finance market, further assistance to the help to the National Housing Fund and while the government incentivises the firms involved in lending on mortgage fiscally to improve performance and capital stocks in the economy.
Full Text Available This article presents an analysis of intellectual capital; its management, features and processes by which intellectual capital of a company can be evaluated. The main elements of intellectual capital (human, structural and relationship capital are presented and used in research. After surveying bibliography, intellectual capital evaluation model, which applies to Lithuanian and Latvian companies operating in the transport sector, is created. The research is based on the value-added intellectual capital factor model, the relationship between indicators, multi-asset return correlation and regression analysis and generation of alternatives to intellectual capital performance-enhancing. Following an assessment of intellectual capital of Lithuanian and Latvian transport sectors, on the basis of the results, it was found that the intellectual capital is a key factor in corporation management to increase revenue. Article in Lithuanian
Full Text Available The current crisis seems to shake the foundations of contemporary society as a whole and generated increasingly more opinions that show the capitalist society has begun and continues to lose ground. This is because capitalism has changed something inside so deeply that eternal truths of capitalism – economic growth, full employment, financial stability – seem to have crashed like the New York twin towers. Beyond all the shortcomings, quite a lot in numbers, known and recognized, the world and those who analyze it agree that , at least so far, has not been invented a better mechanism to obstruct and retain tyranny and so it is possible to consider the evolution of capitalism only in and through democracy.
Villalonga-Olives, Ester; Kawachi, Ichiro
Social capital has been defined as the resources available to individuals and groups through membership in social networks. The definition is consistent with either an individualistic approach, i.e. resources (such as information or instrumental assistance) that are accessed by individuals through their network connections; or a collective approach, e.g. the benefits accruing to members of a group - such as the ability of a community to engage in collective action - as a consequence of the existence of cohesive relationships. While research often restricts itself to a single level of analysis, the benefits (and downsides) of social capital accrue to both the individual as well as to the network to which he belongs. In the Dictionary of Epidemiology both the individual and collective levels of analysis were recognized in the definition of social capital. Copyright © 2014 SESPAS. Published by Elsevier Espana. All rights reserved.
Murillo, David; Vallentin, Steen
capital are interrelated, turning social capital into a powerful instrument to better explain what academic literature has called silent CSR practices. The analysis that follows questions some of the basic tenets that underpin the branch of business ethics that deals with the nature of SMEs' approach...... this type of action d) Any study of this kind of practice requires a dual approach: a) normative when using tools developed by CSR; and b) descriptive and instrumental using the notion of social capital....... in the automotive sector, took the distinctive approach of trying to understand the nature of CSR-like activities developed not by best-in-class CSR-driven companies but by purely competitiveness-driven firms. The case studies provide explicit evidence that the CSR activities of SMEs and the notion of social...
Full Text Available The Europe of Knowledge means shifting to a new stage of identifying, redefining and satisfying the exigencies related to human capital. Among the basic competencies, the language ones shall play a more important role for all age groups, and all categories of jobs and professions in the economic, social and cultural fields due to the emergence of the virtual society and economy. Market internationalisation, as well as the strong outspread of English in all fields led to the emergence of the “working language” making it “strict requirement” from the perspective of the qualitative attributes of human capital. At the same time, from the viewpoint of the human capital, “English is not enough” for sustainable development at regional and international level.
Oszustowicz, R J; Dreachslin, J L
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.
Full Text Available Social capital has been defined as the resources available to individuals and groups through membership in social networks. The definition is consistent with either an individualistic approach, i.e. resources (such as information or instrumental assistance that are accessed by individuals through their network connections; or a collective approach, e.g. the benefits accruing to members of a group – such as the ability of a community to engage in collective action – as a consequence of the existence of cohesive relationships. While research often restricts itself to a single level of analysis, the benefits (and downsides of social capital accrue to both the individual as well as to the network to which he belongs. In the Dictionary of Epidemiology both the individual and collective levels of analysis were recognized in the definition of social capital.
D. Munk, Martin
This paper analyses the acquisition of informational capital, e.g. academic capital, measured as student mobility, and understood as transnational investments in prestigious foreign educational institutions. In the 1990s, educational “zones of prestige” have especially been the United States......) are more likely than students from other social classes to pursue transnational investments, even though students from the middle and working classes have now entered the competition. This result is also recently found in an analysis of Danish academic emigrants. All in all, the studies confirm...... the hypothesis that students from upper classes are more likely than others to invest in specific informational capital in the field of education, in national environments but also in international settings....
To raise the quality of regulatory capital, Basel III capital rules recognize unrealized gains and losses on all available-for-sale (AFS) securities in Common Equity Tier 1 Capital (CET1). However, by examining the correlations between U.S. GDP growth rate, interest rates and regulatory capital ratios computed using Basel III regulatory capital definition for six U.S. global systemically important banks (G-SIBs) since 2007, this chapter finds that Basel III regulatory capital will enhance the...
Luc NEMBOT NDEFFO
Full Text Available The objective of the present study is to estimate the impact of foreign direct investments on human capital development in 32 Subsaharan African countries over the period 1980 – 2005. Human capital is captured by the percentage of children in full-time education in primary and secondary schools. Panel data regressions are used for the estimations. The results show a correlation not only between FDI and the percentage of children in full-time education in primary school but also between the FDI and the percentage of children in full-time education in secondary school. These results are not significant for that. This shows that FDI directed towards Sub-Saharan Africa still remain insufficient. That is why a lot of effort should be made in order to favour the attraction of FDI in this part of the continent. The other variables which have a positive and significant impact on the percentage of children in full-time education are: the domestic investment rate, public sector expenditures, life expectancy at birth and the growth rate of the gross domestic product per capita.
Armour, Brian S; Finkelstein, Eric A; Fiebelkorn, Ian C
Medicaid recipients are disproportionately affected by tobacco-related disease because their smoking prevalence is approximately 53% greater than that of the overall US adult population. This study estimates state-level smoking-attributable Medicaid expenditures. We used state-level and national data and a 4-part econometric model to estimate the fraction of each state's Medicaid expenditures attributable to smoking. These fractions were multiplied by state-level Medicaid expenditure estimates obtained from the Centers for Medicare and Medicaid Services to estimate smoking-attributable expenditures. The smoking-attributable fraction for all states was 11.0% (95% confidence interval, 0.4%-17.0%). Medicaid smoking-attributable expenditures ranged from $40 million (Wyoming) to $3.3 billion (New York) in 2004 and totaled $22 billion nationwide. Cigarette smoking accounts for a sizeable share of annual state Medicaid expenditures. To reduce smoking prevalence among recipients and the growth rate in smoking-attributable Medicaid expenditures, state health departments and state health plans such as Medicaid are encouraged to provide free or low-cost access to smoking cessation counseling and medication.
Keane, Michael; Stavrunova, Olena
This paper develops a smooth mixture of Tobits (SMTobit) model for healthcare expenditure. The model is a generalization of the smoothly mixing regressions framework of Geweke and Keane (J Econometrics 2007; 138: 257-290) to the case of a Tobit-type limited dependent variable. A Markov chain Monte Carlo algorithm with data augmentation is developed to obtain the posterior distribution of model parameters. The model is applied to the US Medicare Current Beneficiary Survey data on total medical expenditure. The results suggest that the model can capture the overall shape of the expenditure distribution very well, and also provide a good fit to a number of characteristics of the conditional (on covariates) distribution of expenditure, such as the conditional mean, variance and probability of extreme outcomes, as well as the 50th, 90th, and 95th, percentiles. We find that healthier individuals face an expenditure distribution with lower mean, variance and probability of extreme outcomes, compared with their counterparts in a worse state of health. Males have an expenditure distribution with higher mean, variance and probability of an extreme outcome, compared with their female counterparts. The results also suggest that heart and cardiovascular diseases affect the expenditure of males more than that of females. Copyright © 2011 John Wiley & Sons, Ltd.
Paphangkorakit, Jarin; Leelayuwat, Naruemon; Boonyawat, Nattawat; Parniangtong, Auddamar; Sripratoom, Jindamanee
The aim of the study was to investigate the effect of rate of chewing on energy expenditure in human subjects. Fourteen healthy subjects (aged 18-24 years) within the normal range of BMI participated in a cross-over experiment consisting of two 6-min sessions of gum chewing, slow (∼60 cycles/min) and fast (∼120 cycles/min) chewing. The resting energy expenditure (REE) and during gum chewing was measured using a ventilated hood connected to a gas analyzer system. The normality of data was explored using the Shapiro-Wilk test. The energy expenditure rate during chewing and the energy expenditure per chewing cycle were compared between the two chewing speeds using Wilcoxon signed ranks tests. The energy expenditure per chewing cycle during slow chewing (median 1.4, range 5.2 cal; mean 2.1±1.6 cal) was significantly higher than that during fast chewing (median 0.9, range 2.2 cal; mean 1.0±0.7 cal) (p chewing speeds (p > 0.05). The results of this study suggest that chewing at a slower speed could increase the energy expenditure per cycle and might affect the total daily energy expenditure.
Chahoud, Jad; Semaan, Adele; Rieber, Alyssa
The US health care system is characterized by high health expenditures with penultimate outcomes. This ecological study evaluates the associations between wealth, health expenditure, and cancer outcomes at the state level. We extracted gross domestic product (GDP) and health expenditure per capita from the 2009 Bureau of Economic Analysis and the Centers for Medicare & Medicaid Services, respectively. Using data from the NCI, we retrieved colorectal cancer (CRC), breast cancer, and all-cancer age-adjusted rates and computed mortality/incidence (M/I) ratios. We used the Spearman's rank correlation to determine the association between the financial indicators and cancer outcomes, and we constructed geographic distribution maps to describe these associations. GDP per capita significantly correlated with lower M/I ratios for all cancers, breast cancer, and CRC. As for health expenditure per capita, preliminary analysis highlighted a rift between the Northeastern and Southern states, which translated into worse breast and all-cancer outcomes in Southern states. Further analysis showed that higher health expenditure significantly correlated with decreased breast cancer M/I ratio. However, CRC outcomes were not significantly affected by health expenditure, nor were all-cancer outcomes. All cancers, breast cancer, and CRC outcomes significantly correlated with wealth, whereas only breast cancer correlated with higher health expenditure. Future research is needed to evaluate the potential role of policies in optimizing resource allocation in the states' efforts against CRC and minimizing disparities in interstate cancer outcomes. Copyright © 2016 by the National Comprehensive Cancer Network.
Weston, Marla J; Estrada, Nicolette A; Carrington, Jane
The wealth and value of organizations are increasingly based on intellectual capital. Although acquiring talented individuals and investing in employee learning adds value to the organization, reaping the benefits of intellectual capital involves translating the wisdom of employees into reusable and sustained actions. This requires a culture that creates employee commitment, encourages learning, fosters sharing, and involves employees in decision making. An infrastructure to recognize and embed promising and best practices through social networks, evidence-based practice, customization of innovations, and use of information technology results in increased productivity, stronger financial performance, better patient outcomes, and greater employee and customer satisfaction.
Oluduro, Francis Oladele; Duru, Longinus; Al Jaafar, Mofid
Date: 2008-06-05 Level: Bachelor Thesis in Business Administration EF0703, 15 ECTS Credits. Authors: Longinus Duru (Stockholm), Francis O.Oluduro (Västerås) and Mofid Al Jaafar (Västerås) Title: Capital Investment Procedures for FEMYSO Problem Area: Undertaking an investment by FEMYSO involves weighing up the risk against the returns but still capital investment decision are still one of the most undertaken decisions by organization managers because it involves commitment of huge amount of mo...
Keuschnigg, Christian; Nielsen, Søren Bo
In this paper we set up a model of start-up finance under double moral hazard.Entrepreneurs lack own resources and business experience to develop their ideas.Venture capitalists can provide start-up finance and commercial support. The effortput forth by either agent contributes to the firm......-set may paradoxically contribute to higher quality of venturecapital finance and welfare. Subsidies to physical investment in VC-backed startupsare detrimental in our framework.Keywords: Venture capital, capital gains taxation, double moral hazard.JEL-Classification: D82, G24, H24, H25...
Silvio Salej Higgins
Full Text Available A partir de O Capital S ocia! está na moda: aná!isepara sua reconstruido teórica (Salej: 2003, ofrecemos una sinopsis sobre la arquitectura teórica de uno de los conceptos más utilizados en las ciencias sociales durante la última década. En el nivel de la discusión sobre las transformaciones de las democracias del primer mundo (putnam: 2001, cuestionamos la tesis básica de que la merma del asociativismo cívico es el resultado de la modernización tecnológica y su concomitante cultura individualista. Por el contrario y en la misma linea de Rothstein (2001, construimos la hipótesis de que la disminución del capital social, denunciada por Putnam (1995, es correlativa al desmantelamiento de las políticas de asistencia social, con la consecuente caída en los indicadores de equidad. De modo prospectivo se presentan las preguntas- clave y las hipótesis para un programa de investigación alternativo y plausible sobre el capital social. Palabras clave: capital social, asociativismo cívico, integración social, equidad.
Sloan, F A; Valvona, J; Hassan, M; Morrisey, M A
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.
Fehime Korkmaz Bingöl
Full Text Available Increasing tourist expenditure is a means to increase tourism income, which is extremely important for local economies. The purpose of this study is to understand the expending pattern of tourists coming to Mugla Region and provide empirical background for the policies to increase per tourist expenditure. The survey conducted at Dalaman International Airport and the data has been analyzed using OLS method. Nationality, age, accommodation type, pension type, credit card usage, availability of shopping facilities, standard of night life and entertainment, quality of food and beverage, length of holiday and group size has been found as significant factors affecting tourist expenditure
N. N. Shvets
Full Text Available The power sector reform in Russia saw capital raising as one of the key objectives. Additional investments are necessary, in particular, for renovation of fixed assets which are ca. 70% worn out. The official Strategy for the development of the Russian power grid also provides for privatization of certain companies and foreign investors are considered among others as the target audience. Upon prospective privatization the sector is expected not only to experience a certain increase in capital expenditures, but also to benefit from foreign expertise and efficiency enhancement. At the moment, however, the privatization plans are hard to implement due to a number of obstacles. Prospective investors are mostly concerned about the lack of transparent regulation and clear development strategy of the industry. This is particularly relevant to the tariff system, which has been continuously altered in recent years. This might be explained by the need of the state support by other sectors, which is often provided at the expense of the power industry. Furthermore, the prospects of foreign capital raising are negatively influenced by the conflict in Ukraine and the corresponding negative perception of potential investors. The above factors result in the decrease in value of power grid companies as well as in the lack of visibility regarding the prospects of the sector development. Privatization thus becomes unreasonable both for the state and prospective investors. At the same time, despite the sector specifics, there are precedents of successful sale of power grid assets to private investors by international peers. Particularly, Vatenfall and Forum have recently closed relevant transactions, nothing to say about the power grid sector of Brazil, majorly controlled by private owners. Transparent regulation, clear pricing rules and well-balanced economic policy are, indeed, indispensable prerequisites for successful privatization. Those might back up a
Molla, Azaher Ali; Chi, Chunhuei; Mondaca, Alicia Lorena Núñez
Predictors of high out-of-pocket household healthcare expenditure are essential for creating effective health system finance policy. In Bangladesh, 63.3% of health expenditure is out-of-pocket and born by households. It is imperative to know what determines household health expenditure. This study aims to investigate the predicting factors of high out-of-pocket household healthcare expenditure targeting to put forward policy recommendations on equity in financial burden. Bangladesh household income and expenditure survey 2010 provides data for this study. Predictors of high out-of-pocket household healthcare expenditure were analyzed using multiple linear regressions. We have modeled non-linear relationship using logarithmic form of linear regression. Heteroscedasticity and multicollinearity were checked using Breusch-Pagan/Cook-Weishberg and VIF tests. Normality of the residuals was checked using Kernel density curve. We applied required adjustment for survey data, so that standard errors and parameters estimation are valid. Presence of chronic disease and household income were found to be the most influential and statistically significant (p financing in Bangladesh to minimize the burden of high OOP healthcare expenditure.
Prieur, Annick; Savage, Mike
This paper takes stock of recent research on patterns of cultural engagement in various European nations, with specific reference to British and Danish research. It argues that Bourdieu's original theorisation of cultural capital in ‘Distinction’ needs to be significantly updated to register...
Ziegler, Magnus Møller
In this working paper, I provide an alternative to William Clare Roberts's argument (in "Marx's Inferno", 2017) that Marx structured "Capital" based on Dante's "Inferno". In stead I argue that the "socialist infernalism" which Roberts identifies in Marx has its roots in Moses Hess's Feuerbachian ...
Full Text Available This paper discusses the main characteristics of the proposed Capital Markets Union in Europe, as they are introduced by the European Commission and various authors, and emphasises some important advantages and disadvantages of this project for the developing and frontier markets in UE, especially for Romania.
The process of capital budgeting varies among different health-care institutions. Understanding the concept of present value of money, incremental cash flow statements, and the basic budgeting techniques will enable the laboratory manager to make the rational and logical decisions that are needed in today's competitive health-care environment.
Gaag, Martin Pieter Johannes van der
The last twenty years have seen the idea of social capital blossoming as a popular and promising new look at phenomena in the social sciences. Essentially a theory that explains how and why relational networks are important for the production of outcomes at the individual and collective level,
Bruff, Ian; Horn, Laura
In this introduction to the special issue, we provide a brief overview of the two distinct but connected meanings of the phrase ‘varieties of capitalism in crisis’: (1) the crisis of empirical political economies under conditions of capitalist diversity; and (2) the crisis of the institutionalist...
Newman, Carol; Tarp, Finn; Van Den Broeck, Katleen
We explore the extent to which social capital can play a role in imparting information about the returns to saving where potential knowledge gaps and mistrust exists. Using data from Vietnam we find strong evidence to support the hypothesis that information transmitted via reputable social...
Paccagnella, Marco; Sestito, Paolo
In this paper we investigate the relationship between social capital and cheating behaviour in standardized tests. Given the low-stakes nature of these tests, we interpret the widespread presence of cheating as a signal of low trust towards central education authorities and as lack of respect for the rule of law. We find that cheating is…
Large capital investments are planned throughout Qatar's energy industry over the next five years totalling $25 billion. This article describes the successful commissioning of Qatar's first liquefied natural gas (LNG) project on time and within budget. The second LNG plant is well underway and plans for a third are under negotiation. (UK)
Burda, Michael C.; Severgnini, Battista
We use synthetic data generated by a prototypical stochastic growth model to assess the accuracy of the Solow residual (Solow, 1957) as a measure of total factor productivity (TFP) growth when the capital stock in use is measured with error. We propose two alternative measurements based on curren...
The debate over the death penalty in the United States has implications beyond our borders. Because of the lack of universal standards governing its use, only those countries which have abolished capital punishment may, with any moral authority, denounce its exploitation as an instrument of political expediency. (IS)
Lindgren, Peter; Saghaug, Kristin Margrethe
When practicing business model (BM) innovation releasing intellectual capital (IC) strategically from SME´s BMs through the innovation process can be extremely difficult and complex to carry out especially to small and medium size enterprises (SME). There are so many opportunities and resources...
Suzana Braga Rodrigues
Full Text Available Social capital may be defined as social relationships that confer actual or potential benefits. It can therefore beunderstood as a particular type of resource. Recent research has drawn attention to how connections andrelationships (networking both at home and abroad can be crucially important for small and medium-sizedenterprises (SMEs seeking to export or invest abroad. However, relatively little is known about how SMEsinitiate, develop and maintain network relationships. This paper reports a study of 32 British SMEs exporting, orattempting to export, to Brazil and of domestic institutional agencies whose role was to facilitate businessconducted between British and Brazilian SMEs. The study explored both the functions of social capital for theSMEs and the process whereby it was developed. Its findings confirm the value of social capital in internationalentrepreneurship. It can provide information, interpretation, market opportunities, and some degree of protectionagainst the risks associated with foreignness, newness and smallness. The study also confirms the vitalimportance of personal trust in sustaining social capital between small firms.
This paper analyzes the relations between social capital, institutions and trust.These concepts are full of ambiguity and confusion.This paper attempts to dissolve some of the confusion, by distinguishing trust and control, and analyzing institutional and relational conditions of trust.It presents a
Full Text Available The paper offers a critical analysis of the central concept around which the popular construct of social capital is organised, i.e. trust. To this end the views of Fukuyama, the leading exponent of the said concept are considered. As a result, the concept in question is found to be ideologically charged and substantively weak in many respects.
The paper offers a critical analysis of the central concept around which the popular construct of social capital is organised, i.e. trust. To this end the views of Fukuyama, the leading exponent of the said concept are considered. As a result, the concept in question is found to be ideologically charged and substantively weak in many respects.
Svendsen, Gunnar Lind Haase; Waldstrøm, Christian
, as well as the derived benefits, or losses. Next, the chapter presents an empirical case apt to illustrate the theoretical findings in part one, namely the nineteenth-century Danish Cooperative Dairy Movement (Svendsen and Svendsen 2004). It is demonstrated how social capital among Danish peasants...
Grover, Stuart R.
Twenty five years ago, few community or technical colleges considered launching capital campaigns. They lacked community standing, professional fundraising staff, and the related institutional foundation structure to manage charitable efforts. Gradually, as public funding eroded, bond issues became harder to pass, and colleges recognized the need…
Chen, Wen; Inklaar, Robert
Investments in organization capital increase productivity of not just the investing firm but could also spillover to other firms-similar to investments in research and development. Recent evidence at the industry and economy level suggests such spillovers could be important. In this paper, we fail
... Financial Statements for Bank Holding Companies (FR Y-9C). This calculation will be effective as of the due... to rely on tentative fourth quarter financial statements in developing its capital plan and suggested... rule applies only to bank holding companies with $50 billion or more of total consolidated assets...
Coffé, Hilde R.
Abstract Recent findings indicate that more pronounced community heterogeneity is associated with lower levels of social capital. These studies, however, concentrate on specific aspects in which people differ (such as income inequality or ethnic diversity). In the present paper, we introduce the
Castiglionesi, F.; Feriozzi, F.; Lóránth, G.; Pelizzon, L.
Banks can deal with their liquidity risk by holding liquid assets (self-insurance), by participating in interbank markets (coinsurance), or by using flexible financing instruments, such as bank capital (risk sharing). We use a simple model to show that undiversifiable liquidity risk, that is, the
Frederiksen, Anders; Kato, Takao
and Waldman and Lazear. Our analysis allows for both internal promotion and external recruitment as means to achieve top management appointments, and yields additional findings: the breath of human capital is more important in mature firms, as predicted by the theory; and the concept of firm-specific human...
National Oceanic and Atmospheric Administration, Department of Commerce — This is a time-series dataset of trip expenditure data for the Hawaii-based longline fleet for the period August 2004 to present. The data collection includes 10...
Results: The mean expenditure for laboratory tests and treatment by women with RTI ... policy relevant questions on equity pertaining to poverty, ... was employed to collect household level data on ..... educational enrollments in states of India.
... materials, services or activities which contribute to the well-being or morale of patients, including but... the actual obligation or expenditure of such monies. (b) Only those officers or employees specifically...
Nghiem, Son Hong; Connelly, Luke Brian
This study examines the trend and determinants of health expenditures in OECD countries over the 1975-2004 period. Based on recent developments in the economic growth literature we propose and test the hypothesis that health care expenditures in countries of similar economic development level may converge. We hypothesise that the main drivers for growth in health care costs include: aging population, technological progress and health insurance. The results reveal no evidence that health expenditures among OECD countries converge. Nevertheless, there is evidence of convergence among three sub-groups of countries. We found that the main driver of health expenditure is technological progress. Our results also suggest that health care is a (national) necessity, not a luxury good as some other studies in this field have found.
The research measured the impact of Georgia Department of Transportations highway : expenditures on economic activity in the State. The analysis covered awards made between January 2009 : and April 2013. The research is unique in that it not only ...
Choong Chee Keong. 6 and Lau Lin Sea. 7 ... Corresponding Author, Department of Economics, Faculty of Business and Finance, UTAR, Malaysia. .... the taxation system and assert that if country's government expenditure is greater than.
van der Wurff, R.; Bakker, P.; Picard, R.G.
Newspaper advertising expenditures depend more strongly on economic development than advertising spent in other media. Gross domestic product (GDP), therefore, predicts ad spending better in countries where newspapers are an important advertising medium. GDP also predicts ad spending better in
Full Text Available The decentralization process was continuous in Romania starting with 1990, generating the implication of local authorities in local public finance, as a result of exclusives, shared and delegate competences and, so, the necessity of ensuring a good management of resources and expenditures. Therefore, the decentralization of competences / responsibilities from State to local governments was a major Romanian political theme and a first rank component of management of local public finance, as main driving instrument for local development. Specific legal framework of local responsibilities is established both to European and national level. Researchers based on regulation and practice have tried to quantify the responsibilities developing different models to measure local revenue and expenditures autonomy. The paper aims is to identify some models for measuring local expenditure autonomy and to apply for Romania. The study is oriented to measure local expenditure autonomy in Romania using Bell, Ebel, Kaiser and Rojchaichainthorn's model.
Ahmad Danu Prasetyo
Full Text Available In this paper, we investigate the efficiency level of government expenditure in 82 countries towards the human development and peace index of the respective countries by using Data Envelopment Analysis (DEA approach during 2007-2011. We found that only few countries that always being positioned in the efficient frontier during the sample period, namely: Japan, Nigeria, and Norway. By using Malmquist index approach, we also found that Cyprus has the largest government expenditure efficiency improvement.Keywords: Government Expenditure Efficiencies, Human Development Index, Global Peace Indexdoi:10.12695/ajtm.2013.6.2.3 How to cite this article:Prasetyo, A.D., and Pudjono, A.N.S. (2013. Measuring Government Expenditure Efficiencies Towards Peace and Human Development. The Asian Journal of Technology Management 6 (2: 82-91. Print ISSN: 1978-6956; Online ISSN: 2089-791X. doi:10.12695/ajtm.2013.6.2.3
National Oceanic and Atmospheric Administration, Department of Commerce — This is a time-series dataset for trip expenditure data for the American Samoa-based longline fleet from August 2006 to present. The dataset includes 10 variable...
Juyani, Yaser; Hamedi, Dorsa; Hosseini Jebeli, Seyede Sedighe; Qasham, Maryam
There are many disabling medical conditions which can result in catastrophic health expenditure. Multiple Sclerosis is one of the most costly medical conditions through the world which encounter families to the catastrophic health expenditures. This study aims to investigate on what extent Multiple sclerosis patients face catastrophic costs. This study was carried out in Ahvaz, Iran (2014). The study population included households that at least one of their members suffers from MS. To analyze data, Logit regression model was employed by using the default software STATA12. 3.37% of families were encountered with catastrophic costs. Important variables including brand of drug, housing, income and health insurance were significantly correlated with catastrophic expenditure. This study suggests that although a small proportion of MS patients met the catastrophic health expenditure, mechanisms that pool risk and cost (e.g. health insurance) are required to protect them and improve financial and access equity in health care.
Hospital capital investment is important for acquiring and maintaining technology and equipment needed to provide health care. Reduction in capital investment by a hospital has negative implications for patient outcomes. Most hospitals rely on debt and internal cash flow to fund capital investment. The great recession may have made it difficult for hospitals to borrow, thus reducing their capital investment. I investigated the impact of the great recession on capital investment made by California hospitals. Modeling how hospital capital investment may have been liquidity constrained during the recession is a novel contribution to the literature. I estimated the model with California Office of Statewide Health Planning and Development data and system generalized method of moments. Findings suggest that not-for-profit and public hospitals were liquidity constrained during the recession. Comparing the changes in hospital capital investment between 2006 and 2009 showed that hospitals used cash flow to increase capital investment by $2.45 million, other things equal.
National Capital Planning Commission — The National Capital Planning Commission library catalog is a compilation of titles, authors, years of publication and topics of books, reports and NCPC publications.
M. Hekimoğlu (Mustafa)
textabstractSpare parts are critical for operations of capital products such as aircraft, refineries, trucks, etc/, which require maintenance regularly. Original Equipment Manufacturers (OEMs) bear the responsibility of undisrupted maintenance service and spare parts flow for their capital products.
economy” but also “Knowledge economy” via human capital development. She has not been serious with her ... economy, Human capital, Strategy. Introduction. The world is now controlled by the revolution of Information and Communication.
Social common capital provides members of society with those services and institutional arrangements that are crucial in maintaining human and cultural life. The term Ã¦social common capital' is comprised of three categories: natural capital, social infrastructure, and institutional capital. Natural capital consists of all natural environment and natural resources including the earth's atmosphere. Social infrastructure consists of roads, bridges, public transportation systems, electricity, and other public utilities. Institutional capital includes hospitals, educational institutions, judicial and police systems, public administrative services, financial and monetary institutions, and cultural capital. This book attempts to modify and extend the theoretical premises of orthodox economic theory to make them broad enough to analyze the economic implications of social common capital. It further aims to find the institutional arrangements and policy measures that will bring about the optimal state of affairs.
The report shows the venture capital decision making in staged financing from a real option perspective. The report also describes entrepreneur-venture capital relationship from a prisoner's dilemma approach.
Murphy, James Peter
Employee capital need not be a reoccurring nightmare for bar owners if they create a system for managing their employee capital which deals with recruitment, placement, training and development for all hospitality staff members.
Hospital capital investment is important for acquiring and maintaining technology and equipment needed to provide health care. Reduction in capital investment by a hospital has negative implications for patient outcomes. Most hospitals rely on debt and internal cash flow to fund capital investment. The great recession may have made it difficult for hospitals to borrow, thus reducing their capital investment. I investigated the impact of the great recession on capital investment made by California hospitals. Modeling how hospital capital investment may have been liquidity constrained during the recession is a novel contribution to the literature. I estimated the model with California Office of Statewide Health Planning and Development data and system generalized method of moments. Findings suggest that not-for-profit and public hospitals were liquidity constrained during the recession. Comparing the changes in hospital capital investment between 2006 and 2009 showed that hospitals used cash flow to increase capital investment by $2.45 million, other things equal. PMID:28617202
Full Text Available Along with the expenditures for social protection, social security funds finance administrative direction, which should correspond to the amount of functions performed by a particular fund. The purpose of the paper is to determine ways to reduce administrative expenditures of state social security funds in the conditions of reforming Ukrainian economy. For this purpose, the authors investigate distribution of the expenditures between social security funds, analyse dynamics and structure of assignments for fund administration, and suggest possible ways to rationalize maintenance cost for these institutions. Methodology. Administrative expenditures are an integral part of the cost of social security funds and include particular items of expenses in the budget of these institutions. Applying a systematic approach to calculating the administrative costs of social security funds of Ukraine the authors have taken into account the expenditures related to funding management, support for information systems, and organization of work with insured people. Results of the survey showed that in 2007–2016 Pension Fund of Ukraine incurred the largest part of social expenditures (more than 90% compared with other social insurance funds (less than 10%. At the same time, the administrative expenses were divided approximately into two halves between Pension Fund and other social security funds. In 2015, the government launched a reform of social insurance funds that aimed to reduce funds to three institutions but a decrease in the total amount of administrative expenditures has not been achieved yet. In addition, Pension Fund of Ukraine was least burdened with administrative expenses, while other social security funds with a relatively small share of social expenditures were burdened with administrative expenditures much more. Practical implications. Research showed that nowadays the existence of several social security funds in Ukraine is economically
The paper questions the view that international tax relations had a decisive impact on the dismissal of expenditure tax scenarios as guidelines for recent national tax reforms in industrialized countries. It is argued that the introduction of consumption-type value-added tax systems must be regarded a step towards expenditure taxation favoured by international agreements and that double taxation treaties should not be regarded as a specific obstacle against a reform of national enterprise tax...
Carroll, Christopher D.; Parker, Jonathan A.; Souleles, Nicholas S.
This paper explains why the collection of panel (reinterview) data on a comprehensive measure of household expenditures is of great value both for measuring budget shares (the core mission of a Consumer Expenditure survey) and for the most important research and public policy uses to which CE data can be applied, including construction of spending-based measures of poverty and inequality and estimating the effects of fiscal policy.
Schjerning, Bertel; Sørensen, Anders
This paper studies conversion factors based on the expenditure approach and evaluates the appropriateness for international comparisons of output levels in manufacturing. We apply a consistency check based on the insight that relative productivity levels should be invariant to the choice of base....... The conclusion is insensitive to the applied method for developing conversion factors. The implication is that we cannot measure relative productivity levels in manufacturing across countries using the expenditure approach....
David E. Sahn; Stephen D. Younger
This paper examines the progressivity of social sector expenditures and taxes in eight sub-Saharan African countries. It uses dominance tests to determine whether health and education expenditures redistribute resources to the poor. The paper finds that social services are poorly targeted. Among the services examined, primary education tends to be most progressive, and university education is least progressive. The paper finds that many taxes are progressive as well as efficient, including so...
Against the background of recovering growth and remaining fiscal consolidation needs, reforming tax expenditures may offer a promising avenue to raise revenue and, at the same time, improve efficiency of the tax systems. The workshop, held by DG ECFIN on 23 October 2013, addressed the economic and budgetary aspects of tax expenditures, including reporting practices, and discussed the rationale for business tax incentives and the distributional effects of tax reliefs in personal income taxatio...
Graf, Diana L; Pratt, Lauren V; Hester, Casey N; Short, Kevin R
To compare energy expenditure rates in children playing the physically active video games, Dance Dance Revolution (DDR) and Nintendo's Wii Sports in relation to treadmill walking. Energy expenditure, heart rate, step rate, and perceived exertion were measured in 14 boys and 9 girls (ages 10-13 years; BMI at 3-98th percentile for age and gender) while watching television at rest, playing DDR at 2 skill levels, playing Wii bowling and boxing, and walking at 2.6, 4.2, and 5.7 km/h. Arterial elasticity was measured at rest and immediately after gaming. Compared with watching television, energy expenditure while gaming or walking increased 2- to 3-fold. Similarly, high rates of energy expenditure, heart rate, and perceived exertion were elicited from playing Wii boxing, DDR level 2, or walking at 5.7 km/h. This occurred despite variations in step rate among activities, reflecting greater use of upper body during Wii play (lowest step rate) than during walking (highest step rate) or DDR play. Wii bowling and beginner level DDR elicited a 2-fold increase in energy expenditure compared to television watching. Large-artery elasticity declined immediately after both DDR and Wii. The change was inversely related to the increment in energy expenditure above rest achieved during the activity. Energy expenditure during active video game play is comparable to moderate-intensity walking. Thus, for children who spend considerable time playing electronic screen games for entertainment, physically active games seem to be a safe, fun, and valuable means of promoting energy expenditure.
Burgess, Philip; Pirkis, Jane; Buckingham, Bill; Burns, Jane; Eagar, Kathy; Eckstein, Gary
Relatively little international work has examined whether mental health resource allocation matches need. This study aimed to determine whether adult mental health resources in Australia are being distributed equitably. Individual measures of need were extrapolated to Australian Areas, and Area-based proxies of need were considered. Particular attention was paid to the prevalence of mental health problems, since this is arguably the most objective measure of need. The extent to which these measures predicted public sector, private sector and total adult mental health expenditure at an Area level was examined. In the public sector, 41.6% of expenditure variation was explained by the prevalence of affective disorders, personality disorders, cognitive impairment and psychosis, as well as the Area's level of economic resources and State/Territory effects. In the private sector, 72.4% of expenditure variation was explained by service use and State/Territory effects (with an alternative model incorporating service use and State/Territory supply of private psychiatrists explaining 69.4% of expenditure variation). A relatively high proportion (58.7%) of total expenditure variation could be explained by service utilisation and State/Territory effects. For services to be delivered equitably, the majority of variation in expenditure would have to be accounted for by appropriate measures of need. The best model for public sector expenditure included an appropriate measure of need but had relatively poor explanatory power. The models for private sector and total expenditure had greater explanatory power, but relied on less appropriate measures of need. It is concluded that mental health services in Australia are not yet being delivered equitably.
García-Cornejo, Beatriz; Pérez-Méndez, José A
To analyze the relationship between the degree of development of hospital cost systems (CS) implemented by the regional health services (RHS) and the variation in unit cost of hospitals in Spanish National Health Service (NHS) between 2010 and 2013 and to identify other explanatory factors of this variation. A database of NHS hospitals was constructed from exclusively public sources. Using a multilevel regression model, explaining factors of the variation in unit cost (cost per weighted unit of activity [WAU]) of a sample of 170 hospitals were analyzed. The variables representative of the degree of development of CS are associated in a negative and significant way with the variation of the cost per WAU. It is observed that if a high-level development CS is used the cost variation per WAU would be reduced by close to 3.2%. There is also a negative and significant relationship between the variation in the cost per WAU and the variations in the percentage of high technology and the hospital occupancy rate. On the other hand, the variations in the average cost of personnel and in the number of workers per 100 beds are associated in a positive and significant way with the variation of the cost per WAU. In the period analysed, during which the main health expenditure adjustment was made, the control in hospital unit cost is associated not only with spending cuts but also with aspects related to their management, such as the implementation of more developed CS. Copyright © 2017 SESPAS. Publicado por Elsevier España, S.L.U. All rights reserved.
Lee, Jong Soo; Zakeri, Issa F; Butte, Nancy F
Adequate sleep is crucial during childhood for metabolic health, and physical and cognitive development. Inadequate sleep can disrupt metabolic homeostasis and alter sleeping energy expenditure (SEE). Functional data analysis methods were applied to SEE data to elucidate the population structure of SEE and to discriminate SEE between obese and non-obese children. Minute-by-minute SEE in 109 children, ages 5-18, was measured in room respiration calorimeters. A smoothing spline method was applied to the calorimetric data to extract the true smoothing function for each subject. Functional principal component analysis was used to capture the important modes of variation of the functional data and to identify differences in SEE patterns. Combinations of functional principal component analysis and classifier algorithm were used to classify SEE. Smoothing effectively removed instrumentation noise inherent in the room calorimeter data, providing more accurate data for analysis of the dynamics of SEE. SEE exhibited declining but subtly undulating patterns throughout the night. Mean SEE was markedly higher in obese than non-obese children, as expected due to their greater body mass. SEE was higher among the obese than non-obese children (p0.1, after post hoc testing). Functional principal component scores for the first two components explained 77.8% of the variance in SEE and also differed between groups (p = 0.037). Logistic regression, support vector machine or random forest classification methods were able to distinguish weight-adjusted SEE between obese and non-obese participants with good classification rates (62-64%). Our results implicate other factors, yet to be uncovered, that affect the weight-adjusted SEE of obese and non-obese children. Functional data analysis revealed differences in the structure of SEE between obese and non-obese children that may contribute to disruption of metabolic homeostasis.
Strath Scott J
Full Text Available Abstract Background Advances in technology, social influences and environmental attributes have resulted in substan-tial portions of the day spent in sedentary pursuits. Sedentary behavior may be a cause of many chronic diseases including obesity, insulin resistance, type 2 diabetes and the metabolic syndrome. Research demonstrated that breaking up sedentary time was beneficially associated with markers of body composition, cardiovascular health and type 2 diabetes. Therefore, the purpose of this study was to quantify the total energy expenditure of three different durations of physical activity within a 30-minute sedentary period and to examine the potential benefits of interrupting sedentary behavior with physical activity for weight control. Methods Participants completed four consecutive 30-minute bouts of sedentary behavior (reading, working on the computer, or doing other desk activities with and without interruptions of walking at a self-selected pace. Bout one contained no walking interruptions. Bout two contained a 1-minute walking period. Bout three contained a 2-minute walking period. Bout four contained a 5-minute walking period. Body composition and resting metabolic rate were assessed. Result Twenty males and females (18-39 years completed this study. Results of the repeated measures analysis of variance with post-hoc testing showed that significantly more energy was expended during each 30 minute sedentary bout with a walking break than in the 30 minute sedentary bout (p Conclusions This study demonstrated that making small changes, such as taking a five minute walking break every hour could yield beneficial weight control or weight loss results. Therefore, taking breaks from sedentary time is a potential outlet to prevent obesity and the rise of obesity in developed countries.
Miglo, Anton; Liang, Shuting; Lee, Zhenting
We analyze the financing decisions and capital structure of internet companies and relate observed findings to the common capital structure theories. Large internet companies usually have low debt and small internet companies have high debt. We find that the trade-off theory of capital structure, pecking order theory, market timing theory and other theories cannot individually explain a firm’s capital structure. However, they can compliment each other in describing some patterns of observed b...
Full Text Available Globalization spurs the diffusion of knowledge and encourages firms to incorporate investments in innovation in their portfolios because knowledge based capital (research & development, intellectual property, organisational capital, skills etc. is a key d river for competitiveness on all levels. This article aims to emphasize the differences in the R&D tax policy mix as a proxy for the knowledge based capital and analyse some R&D indicators for a number of 20 EU member states in order to sort and classify those countries in terms of R&D tax policy effectiveness. The results show that a higher corporate tax level even if is offset by a high tax subsidy does not lead to a high level business enterprise expenditure on R&D as a percentage of value added in industry. Moreover this paper highlights the need for designing a tax policy that promotesinnovation and gauges the loopholes of the tax system that activate profit shifting strategies.
The ERICAM model (Environmental Risk Internalization through Capital Markets) includes the capital markets as a source contributing to the coverage of risks due to nuclear activites, thus enhancing the effectiveness and functions of the nuclear liability law. The model proposed will allow higher amounts for compensation and will increase financial security, flow of information, and efficient use of resources. The implementation of the model can be achieved on the financing side by issuing Nuke bonds, linking accident-specific options to government bonds. This will essentially increase the risk coverage compared to present means, and will be a pin-pointed addition to the existing layer system. There are three institutions proposed to act as mediators in the implementation of the model: A government authority to supervise the trade in Nuke bonds. Risk-bearing associations in oder to enhance the model's efficiency, and to reduce transaction costs. Rating agencies that will reduce the expenditure for information. (orig./HP) [de
Full Text Available Cruise tourism generates different types of cruise consumption and related indirect, direct and induced expenditure effects, in homeports as well as in ports of call. Cruise passengers’ expenditures produce positive economic effects for destinations, from increasing the incomes and employment, to tax incomes, duties, etc. Therefore, it is no doubt that cruise stakeholders and local economies can benefit from increased cruise passenger consumption. To stimulate higher consumption and passengers’ satisfaction, it is necessary to design the supportive policy framework and build appropriate quality of products and services. Identifying influential variables of cruise passengers’ expenditures in this sense enables the design of appropriate policies and measures. In the current research, based on a survey of 357 cruise passengers, several variables included in a new theoretical model of the expenditures determinants, such as gender, nationality, frequency of cruising and frequency of visits, were found to be statistically significantly associated with cruise passengers’ expenditures. Several conclusions and suggestions to stimulate cruise passenger expenditures based on research findings are provided.
Cohen, Eyal; Hall, Matt; Lopert, Ruth; Bruen, Brian; Chamberlain, Lisa J; Bardach, Naomi; Gedney, Jennifer; Zima, Bonnie T; Berry, Jay G
Medication use may be a target for quality improvement, cost containment, and research. We aimed to identify medication classes associated with the highest expenditures among pediatric Medicaid enrollees and to characterize the demographic, clinical, and health service use of children prescribed these medications. Retrospective, cross-sectional study of 3 271 081 Medicaid-enrolled children. Outpatient medication spending among high-expenditure medication classes, defined as the 10 most expensive among 261 mutually exclusive medication classes, was determined by using transaction prices paid to pharmacies by Medicaid agencies and managed care plans among prescriptions filled and dispensed in 2013. Outpatient medications accounted for 16.6% of all Medicaid expenditures. The 10 most expensive medication classes accounted for 63.9% of all medication expenditures. Stimulants (amphetamine-type) accounted for both the highest proportion of expenditures (20.6%) and days of medication use (14.0%) among medication classes. Users of medications in the 10 highest-expenditure classes were more likely to have a chronic condition of any complexity (77.9% vs 41.6%), a mental health condition (35.7% vs 11.9%), or a complex chronic condition (9.8% vs 4.3%) than other Medicaid enrollees (all P costs may benefit from better delineation of the appropriate prescription of these medications. Copyright © 2017 by the American Academy of Pediatrics.
Shrestha, Sundar S; Zhang, Ping; Thompson, Theodore J; Gregg, Edward W; Albright, Ann; Imperatore, Giuseppina
Information on diabetes-related excess medical expenditures for youth is important to understand the magnitude of financial burden and to plan the health care resources needed for managing diabetes. However, diabetes-related excess medical expenditures for youth covered by Medicaid program have not been investigated recently. To estimate excess diabetes-related medical expenditures among youth aged below 20 years enrolled in Medicaid programs in the United States. We analyzed data from 2008 to 2012 MarketScan multistate Medicaid database for 6502 youths with diagnosed diabetes and 6502 propensity score matched youths without diabetes, enrolled in fee-for-service payment plans. We stratified analysis by Medicaid eligibility criteria (poverty or disability). We used 2-part regression models to estimate diabetes-related excess medical expenditures, adjusted for age, sex, race/ethnicity, year of claims, depression status, asthma status, and interaction terms. For poverty-based Medicaid enrollees, estimated annual diabetes-related total medical expenditure was $9046 per person [$3681 (no diabetes) vs. $12,727 (diabetes); PMedicaid enrollees, the estimated annual diabetes-related total medical expenditure was $9944 per person ($14,149 vs. $24,093; PMedicaid programs are substantial, which is larger among those with disabilities than without disabilities. Identifying cost-effective ways of managing diabetes in this vulnerable segment of the youth population is needed.
Leuck, Marlene; Levandovski, Rosa; Harb, Ana; Quiles, Caroline; Hidalgo, Maria Paz
This study aimed to evaluate the effect of continuous and intermittent methods of enteral nutrition (EN) administration on circadian rhythm. Thirty-four individuals, aged between 52 and 80 years, were fed through a nasoenteric tube. Fifteen individuals received a continuous infusion for 24 hours/d, and 19 received an intermittent infusion in comparable quantities, every 4 hours from 8:00 to 20:00. In each patient, 4 indirect calorimetric measurements were carried out over 24 hours (A: 7:30, B: 10:30, C: 14:30, and D: 21:30) for 3 days. Energy expenditure and oxygen consumption were significantly higher in the intermittent group than in the continuous group (1782 ± 862 vs 1478 ± 817 kcal/24 hours, P = .05; 257 125 vs 212 117 ml/min, P = .048, respectively). The intermittent group had higher levels of energy expenditure and oxygen consumption at all the measured time points compared with the continuous group. energy expenditure and oxygen consumption in both groups were significantly different throughout the day for 3 days. There is circadian rhythm variation of energy expenditure and oxygen consumption with continuous and intermittent infusion for EN. This suggests that only one indirect daily calorimetric measurement is not able to show the patient's true needs. Energy expenditure is higher at night with both food administration methods. Moreover, energy expenditure and oxygen consumption are higher with the intermittent administration method at all times.
Bernard, Didem; Cowan, Cathy; Selden, Thomas; Cai, Liming; Catlin, Aaron; Heffler, Stephen
Provide a comparison of health care expenditure estimates for 2007 from the Medical Expenditure Panel Survey (MEPS) and the National Health Expenditure Accounts (NHEA). Reconciling these estimates serves two important purposes. First, it is an important quality assurance exercise for improving and ensuring the integrity of each source's estimates. Second, the reconciliation provides a consistent baseline of health expenditure data for policy simulations. Our results assist researchers to adjust MEPS to be consistent with the NHEA so that the projected costs as well as budgetary and tax implications of any policy change are consistent with national health spending estimates. The Medical Expenditure Panel Survey produced by the Agency for Healthcare Research and Quality, and the National Health Center for Health Statistics and the National Health Expenditures produced by the Centers for Medicare & Medicaid Service's Office of the Actuary. In this study, we focus on the personal health care (PHC) sector, which includes the goods and services rendered to treat or prevent a specific disease or condition in an individual. The official 2007 NHEA estimate for PHC spending is $1,915 billion and the MEPS estimate is $1,126 billion. Adjusting the NHEA estimates for differences in underlying populations, covered services, and other measurement concepts reduces the NHEA estimate for 2007 to $1,366 billion. As a result, MEPS is $240 billion, or 17.6 percent, less than the adjusted NHEA total.
... phase-in would unfairly penalize banking organizations given their already established businesses..., will aid banking organizations with capital planning as they implement FAS 166 and FAS 167 and adjust... assets a banking organization consolidates as a result of changes to U.S. generally accepted accounting...
Bassi, Laurie J.
Describes intellectual capital--employees' brainpower, know-how, knowledge, and processes--and knowledge management--the processes by which a company creates and leverages intellectual capital--as the primary sources of competitive advantage in many industries. Offers ways to measure intellectual capital, a glossary, and additional resources. (JOW)
Mitchell, Deborah; Castles, Francis
This paper is developed in response to Gosta Esping-Andersen's study, The Three Worlds of Welfare Capitalism (1990), in which he categorizes welfare capitalism as Liberal, Conservative, and Social Democratic. The authors argue that there also exists radical welfare capitalism which describes Australia's welfare state.
This article argues that school social capital is crucial for school effectiveness, but it has been disregarded in the traditional school administrative theory. Therefore, this article tries to illustrate the significance of school social capital to school effectiveness. School social capital is defined as the social resources embedded in internal…
Peters, Michael A., Ed.; Bulut, Ergin, Ed.
Cognitive capitalism--sometimes referred to as "third capitalism," after mercantilism and industrial capitalism--is an increasingly significant theory, given its focus on the socio-economic changes caused by Internet and Web 2.0 technologies that have transformed the mode of production and the nature of labor. The theory of cognitive…
Kitchen, Peter; Williams, Allison; Simone, Dylan
Social capital has been studied by academics for more than 20 years and within the past decade there has been an explosion of growth in research linking social capital to health. This paper investigates social capital in Hamilton, Ontario by way of a telephone survey of 1,002 households in three neighbourhood groups representing high, mixed and…
Using a theoretical framework, the study proposes an index that can measure the social capital of local action group (LAG) projects. The index is founded on four indicators: number of ties, bridging social capital, recognition, and diversity, which are aggregated into one social capital index. The index has been tested in LAG-Djursland, Denmark,…
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.
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Capital stock. 725.5 Section 725.5 Banks and Banking NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS NATIONAL CREDIT UNION ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is divided...
Madsen, Erik Strøjer
Human capital is an important growth factor for developing and developed countries and measuring the return to education is essential in evaluating the growth impact from human capital. Most studies use the length of education measured by the years of schooling as an indicator of human capital...
Yoo, Soonhwa; Loadman, William E.
In 1994 the Ohio State Legislature established Venture Capital to support school restructuring. The Venture Capital school initiative is a concept borrowed from the business community in which the corporate entity provides risk capital to parts of the organization to stimulate creative ideas and to provide opportunities for local entities to try…
Human capital wordt door diverse auteurs gezien als een ‘value driver’. Er is echter weinig bekend over de wijze waarop ondernemingen human capital meten en sturen en hoe beleggers op de kapitaalmarkt reageren op human capital informatie die door ondernemingen wordt verstrekt. In dit artikel wordt
Joosen, B.P.M.; Haentjens, M.; Wessels, B.
With the introduction of the Capital Requirements Regulation (CRR) in the European Union, the qualitative requirements for bank regulatory capital have changed. These changes aim at implementing in Europe the Basel III principles for better bank capital that is able to absorb losses of banks,
... Administration 49 CFR Part 611 Major Capital Investment Projects; Notice of Availability of Proposed New Starts... Capital Investment Projects AGENCY: Federal Transit Administration (FTA), DOT. ACTION: Final rule. SUMMARY... capital investments seeking funding under the discretionary ``New Starts'' and ``Small Starts'' programs...
...-0009] RIN 2132-AB02 Major Capital Investment Projects AGENCIES: Federal Transit Administration (FTA... current approach to evaluating and rating major capital investment projects (``New Starts'' and ``Small...'' to address identified transportation needs in the corridor without a major capital investment in new...
Navarra, M.Q.; Niehof, A.; Vaart, van der W.
Social capital is often seen as a substitute for lack of other types of capital among poor people. Because of the recognized applicability of the social capital concept and its correlation with the different dimensions of poverty, it has been used in evaluating the adaptation and integration of
approach in Scientific Research Centers within knowledge based ... Relational Capital (customer capital): represents all the .... measure the economy's human capital by the rates of enrolment in .... skill or ability, a personal characteristic, or a cluster of two or more ..... satisfied with the moral motivation (not financial) of the.
Full Text Available Este artículo sugiere que la metamorfosis de las deudas en derivados y títulos financieros, y de estos en deudas, genera redes de activos y obligaciones, que inducen la emergencia de distintos tiempos del capital, articulados en un sistema complejo, cuya dinámica hace posible sincronizarlos en forma de crisis de carácter global. La crisis se trata como un cambio de estado en un sistema complejo, precipitada por la conectividad generada por el apalancamiento creciente. Es un desarrollo de las teorías de la crisis y de la socialización de la deuda planteadas por Marx en El Capital.
Ngoma, Muhammad; Dithan Ntale, Peter
This paper seeks to evaluate the relationship between psychological capital, career identity, social capital and graduate employability. We also seek to evaluate the mediating role of social capital on the relationships between psychological capital, career identity and graduate employability in Uganda. A population of 480 unemployed young people…
Berdasarkan hasil pengolahan data diketemukan bahwa 1 human capital mampu memberikan kontribusi yang berarti terhadap customer capital. 2 Customer capital mampu memberikan kontribusi yang berarti terhadap kinerja café dan resto di Surabaya, 3 human capital mampu memberikan kontribusi yang berarti terhadap kinerja café dan resto di Surabaya.
Christensen, Poul Rind; Evald, Majbritt Rostgaard; Klyver, Kim
This study investigates the influence of human capital, social capital, and cognition on nascent entrepreneurs' export intentions. The results indicate that while human capital and social capital influence the level of intended export, cognitive characteristics, such as self-efficacy and risk...
-, č. 429 (2010), s. 1-36 ISSN 1211-3298 R&D Projects: GA ČR GA402/09/1595; GA MŠk LC542 Grant - others:MŠk(CZ) SVV-2010-261801 Institutional research plan: CEZ:MSM0021620846 Keywords : capital structure * financing decisions * credit constraints * Eastern Europe Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp429.pdf
Full Text Available The aim of this paper is to compare the determinants of leveraged buyout activity, respectively venture capital activity in Eastern European countries. Additionally, this paper presents the main highlights in terms of evolution of leveraged buyout investments and venture capital investments during the recent crisis in the European emerging countries. The panel data analysis used in this paper will include determinants consecrated in previous studies such as GDP growth, market capitalization or R&D expenditures, as well as new variables such as productivity and corruption index. In order to estimate a panel data model with fixed and random effects, we collected data on leveraged buyout activity, respectively venture capital activity in Eastern European countries over the period 2000-2013. This paper will follow the methodology developed by Gompers and Lerner (1998, Jeng and Wells (2000, Romain and de La Potteria (2004, Félix (2007 and Bernoth and Colavecchio (2014. The present research paper shows that the LBO and the venture capital are differently affected by macroeconomic conditions. Based on our empirical results, we have pointed several strategic directions that are meant to support the development of the leveraged buyout and venture capital markets in Eastern Europe.
Bernardus Bala de Rosari
Full Text Available This research aimed at analysing the demand and allocation of credit and capital supports by farm household and impact on production, consumption, and investment. The research was conducted in East Nusa Tenggara Timur (ENT Province, one of targeted region of credit and capital supports policy of the government. Data collection was conducted from April to June 2013 by sampling for 178 households of farmers in Kupang District and Timor Tengah Selatan (TTS District. The result of this research showed that the allocation of credit and capital supports caused increaseof cattle production, consumption expenditure, and investment. The usage of credit and capital supports was depend on economical situation of the household itself. The decision of farm household on using credit and capital supports had impact on overall economical behavior of household, i.e. production, consumption and investment behavior. The transmission use was reciprocally interacted. Finally, the policy of credit and capital supports scheme for farmers should be adjusted with the context of farm household economics.