WorldWideScience

Sample records for capital productivity

  1. Capital productivity and the nature of competition

    OpenAIRE

    Börsch-Supan, Axel

    1997-01-01

    This paper measures capital productivity in West Germany, Japan and the United States and links capital productivity to financial performance. We show that West Germany and Japan have significantly lower levels of capital productivity than the United States, mainly due to lower capital utilization but also because less productive capacity was created per unit of physical assets. On a higher level of causality, we show that this mainly comes from less pressure from product market competition a...

  2. TIME, CAPITAL AND THE STRUCTURE OF PRODUCTION

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    IFRIM MIHAELA

    2014-05-01

    Full Text Available The doctrinal monopolizing of the modern economic theory by supporters of Monetarism and Keynesism deprived it by one of its essential components- the capital theory. Emphasising the role of monetary and fiscal policies has diverted the concerns for real economy and its productive structures. It was constantly overlooked that any fluctuation in the monetary economy is soon translated into fluctuations in the real economy, in its structure of production.This reality requires the inclusion, in any serious analysis of the cyclical fluctuations, of the capital theory and of the role of time in the processes of production. The paper aims to highlight how the structure of production responds to interest rate cuts by extending, simultaneous, investment and consumption. We obtain the picture of an economy that works beyond the limits imposed by its resources, which justifies the emergence of economic crises and depressions.

  3. Social Capital in the creation of Human Capital and Economic Growth: A Productive Consumption Approach

    OpenAIRE

    Dinda, Soumyananda

    2006-01-01

    Social capital is a broad term containing the social networks and norms that generate shared understandings, trust and reciprocity, which underpin cooperation and collective action for mutual benefits, and creates the base for economic prosperity. This study deals with the formation of social capital through development of human capital that is created from productive consumption. This paper attempts to formalize incorporation of social capital (SK). This paper sets up a one-sector growth mod...

  4. The age pattern of human capital and regional productivity

    OpenAIRE

    Hirte, Georg; Brunow, Stephan

    2008-01-01

    We explore the impact of the age structure of human capital on average regional productivity by applying a spatial econometric analysis based on an augmented Lucas-type production function. We also apply a new definition of regional human capital focusing on its availability. The estimates provide evidence that there are age specific human capital effects in Germany and that a temporary increase in regional productivity could occur during the demographic transition. Furthermore, it becomes cl...

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

    Science.gov (United States)

    Morrell, Peter

    1999-01-01

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

  6. An introduction to capital markets products, strategies, participants

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    Chisholm, Andrew M

    2002-01-01

    This comprehensive resource provides a complete introduction to global capital markets by explaining key instruments used in markets and their practical applications. An Introduction to Capital Marketsassumes no starting knowledge of the subject and begins with a general overview of the structure of the capital markets industry. Readers will quickly learn about swaps applications, options trading strategies, and much more. This introduction to financial markets offer valuable insights for anyone interested in the theory, practice, products, and applications within this field.

  7. Higher Objectives of Islamic Investment Products: Islamizing Indonesian Capital Market

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    Andri Soemitra

    2016-09-01

    Full Text Available Indonesian capital market regulators have already accommodated Islamic products as one of Indonesian capital market products. Theoretically, Islamic investment promises three main benefits i.e. spiritual, financial, and social benefits. Realizing Islamic investment in the sense of those three main benefits needs serious effort. This paper discusses the perception of capital market investors. This study suggests that their opinion as to whether or not sharī‘ah capital market products had fulfilled their expectations of Islamic comprehensive objectives. Islamic capital market instruments are part of Islamic instruments. The Islamization of financial institutions and instruments in the modern era has emerged not only to meet Muslims’ need for financial activities but also as the medium to realize the higher objectives of Islam, i.e. maqāṣid al-sharī‘ah in economic and financial activities.DOI: 10.15408/sdi.v23i2.2408

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

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    Ohdanskiy K. M.

    2015-05-01

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

  9. Endogenous growth with capital in R&D production functions

    OpenAIRE

    Fernando Sánchez-Losada

    2014-01-01

    [eng] In this paper we claim that capital is as important in the production of ideas as in the production of final goods. Hence, we introduce capital in the production of knowledge and discuss the associated problems arising from the public good nature of knowledge. We show that although population growth can affect economic growth, it is not necessary for growth to arise. We derive both the social planner and the decentralized economy growth rates and show the optimal subsidy that decentrali...

  10. Capital deepening: the only way towards higher productivity and income

    Institute of Scientific and Technical Information of China (English)

    殷醒民

    2009-01-01

    Technological progress is the main driver of labor productivity in manufacturing industries. But it is capital accumulation that makes such progress possible. In the early 21st century, China’s manufacturing entered a process of capital deepening, in which labor productivity improvement is based on the increase of per capita assets. Capital accumulation in technical industries has created higher labor productivity and enabled phenomenal growth of new technology industries, contributing to the rapid and all-round growth of manufacturing industries as a whole. This is the real premise of China’s sustained economic growth over the past ten years.

  11. Knowledge Productivity for Sustainable Innovation: Social Capital as HRD Target

    Science.gov (United States)

    Ehlen, Corry; van der Klink, Marcel; Roentgen, Uta; Curfs, Emile; Boshuizen, Henny

    2014-01-01

    Purpose: The purpose of this paper is to test the feasibility of a conceptual model on relations between organisational innovation, knowledge productivity and social capital. It explores processes of knowledge productivity for sustainable innovation and associated HRD implications in knowledge intensive organisations, taking the perspective that…

  12. On difference and capital: gender and the globalization of production.

    Science.gov (United States)

    Bair, Jennifer

    2010-01-01

    This article is both a review of, and an intervention in, the literature on gender and the globalization of production. Via a discussion of six key texts analyzing export-oriented manufacturing, ranging from Maria Mies's Lace Makers of Narsapur to Melissa Wright's Disposable Women and Other Myths of Global Capitalism, I show that, over time, the focus has shifted from an emphasis on the feminization of manufacturing as a defining feature of globalization to an appreciation of the diverse and contingent ways in which gender matters for offshore production. While this recent scholarship highlights variability in gendered labor regimes at the global-local nexus, I argue that it is also critically important to ask what is similar about the many locations on the global assembly line that have been studied. Specifically, we must look to how gender, as a set of context-specific meanings and practices, works within the macrostructure of the global economy and its systemic logic of capital accumulation. In other words, while capitalism does not determine the concrete modalities of gender that exist in a given locale, it is essential for explaining the gendered dimension of transnational production as a patterned regularity of contemporary globalization.

  13. The Influence of Relational Capital on Product Innovation Performance at Innovative SMEs

    OpenAIRE

    Dorrego, Pedro Figueroa; Costa, Ricardo; Fernández, Carlos Fernández-Jardon

    2013-01-01

    The authors build on the intellectual capital and new product development perspectives to study the influence of relational capital on product innovation performance. An empirical research was conducted, using a questionnaire administered to Portuguese innovative SMEs. The results suggest that relational capital does have a positive effect on product innovation performance. In particular, ”Vertical relationships” stands out as the main relational capital element significantly affecting produ...

  14. The nutrition intervention improved adult human capital and economic productivity.

    Science.gov (United States)

    Martorell, Reynaldo; Melgar, Paul; Maluccio, John A; Stein, Aryeh D; Rivera, Juan A

    2010-02-01

    This article reviews key findings about the long-term impact of a nutrition intervention carried out by the Institute of Nutrition of Central America and Panama from 1969 to 1977. Results from follow-up studies in 1988-89 and 2002-04 show substantial impact on adult human capital and economic productivity. The 1988-89 study showed that adult body size and work capacity increased for those provided improved nutrition through age 3 y, whereas the 2002-04 follow-up showed that schooling was increased for women and reading comprehension and intelligence increased in both men and women. Participants were 26-42 y of age at the time of the 2002-04 follow-up, facilitating the assessment of economic productivity. Wages of men increased by 46% in those provided with improved nutrition through age 2 y. Findings for cardiovascular disease risk factors were heterogeneous; however, they suggest that improved nutrition in early life is unlikely to increase cardiovascular disease risk later in life and may indeed lower risk. In conclusion, the substantial improvement in adult human capital and economic productivity resulting from the nutrition intervention provides a powerful argument for promoting improvements in nutrition in pregnant women and young children.

  15. Investments in social capital--implications of social interactions for the production of health.

    Science.gov (United States)

    Bolin, Kristian; Lindgren, Björn; Lindström, Martin; Nystedt, Paul

    2003-06-01

    This paper develops a theoretical model of the family as producer of health- and social capital. There are both direct and indirect returns on the production and accumulation of health- and social capital. Direct returns (the consumption motives) result since health and social capital both enhance individual welfare per se. Indirect returns (the investment motives) result since health capital increases the amount of productive time, and social capital improves the efficiency of the production technology used for producing health capital. The main prediction of the theoretical model is that the amount of social capital is positively related to the level of health; individuals with high levels of social capital are healthier than individuals with lower levels of social capital, ceteris paribus. An empirical model is estimated, using a set of individual panel data from three different time periods in Sweden. We find that social capital is positively related to the level of health capital, which supports the theoretical model. Further, we find that the level of social capital (1) declines with age, (2) is lower for those married or cohabiting, and (3) is lower for men than for women.

  16. Industrial Capital Intensity and Comparative Advantages Dynamism of Indonesian Export Products

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    Ni Putu Wiwin Setyari

    2015-12-01

    Full Text Available The development of new trade theory which incorporates the interaction between trade and international capital flows indicates if the possibility of changes in a country's comparative advantage due to the opening of international capital flows. International capi tal flows allow for changes in the industrial structure of a country depends on the composition of the products produced in that coun try. More capital-intensive types of products produced by a country, the greater the need for capital and the higher marginal rate of capital that can be given to attract greater international capital flows. Therefore, a comparative advantage should be seen as dynamic rather than static. As a country with large population, Indonesia tends to specialize in labor -intensive products. The other hand, efforts to attract foreign direct investment are very intensively conducted. The estimation results indicate if there was a shift in the pattern of industrial specialization Indonesia, from labor –intensive tends toward capital intensive.

  17. Comparative Analysis of Capital Productivity in China's High-Tech Industries

    Institute of Scientific and Technical Information of China (English)

    LingWang; AdamSzirmai

    2005-01-01

    While labor productivity is a topic of constant debate and has been studied extensively, far less attention has been devoted to the question of capital productivity. Productive use of physical capital is an important source of economic growth and investment return. This paper presents a comparative study of capital productivity in China's high-tech industry. Using a version of the perpetual inventory method (PIM), new estimates have been made of the physical capital stock by sector. Capital productivity in China's high-tech industry is higher than in total manufacturing, but the gap between them has been shrinking. Comparison with high-tech industries in the US., highlights that China's high-tech industries could play a more important role in the growth of manufacturing and the whole economy.

  18. Human Capital Linkages to Labour Productivity: Implications from Thai Manufacturers

    Science.gov (United States)

    Rukumnuaykit, Pungpond; Pholphirul, Piriya

    2016-01-01

    Human capital investment is a necessary condition for improving labour market outcomes in most countries. Empirical studies to investigate human capital and its linkages on the labour demand side are, however, relatively scarce due to limitations of firm-level data-sets. Using firm-level data from the Thai manufacturing sector, this paper aims to…

  19. LABOUR PRODUCTIVITY AND HUMAN CAPITAL IN THE EU COUNTRIES:AN EMPIRICAL ANALYS

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    NEAGU OLIMPIA

    2012-07-01

    Full Text Available The role of the human capital in the economy is highlighted in several studies of human capital, endonegneous growth and macroeconomic literature. A special part of this literature is dedicated to the mechanism and the various channels through wich human capital influences economic growth. As expression of the macroeconomic performance, the labour productivity depends on the accumulation of human capital in the economy. To analyze and discuss this dependency is essential for appropriate human capital policies aiming to stimulate the human capital accumulation in the economy and the enhancement of the labour productivity. The paper explores the link between labour productivity and the estimates of the human capital stock in the EU countries. Human capital theory explains the labour productivity level by the workers' level of educational attainment level. Four different effects of human capital on labour productivity can be found in economic literature: worker, allocative, difusion and research. Other researchers used a production function to estimate the productivity impact of changes in educational attainment. Research on the impact of human capital on productivity at the country level encountered many difficulties over the years. The main methodological issue is how to measure skills and human capital investment and to model possible channels of skills of influence the economic performance. The UNESCO attainment levels and enrollment series and other data sets, constructed by researchers, have been used in a large number of empirical studies of the link between education and productivity. What is innovative in the present study is the estimation of human capital stock based on educational costs by level(primary, secondary, tertiary weighted by the proportion of labour force with corresponding educational attainment and the testing of linear regression model for the dependency of labour productivity on human capital stock. The assumption of the

  20. The productivity of public capital in the Netherlands: a regional perspective

    NARCIS (Netherlands)

    Manshanden, W.; Dröes, M.I.; Manshanden, W.; Jonkhoff, W.

    2011-01-01

    This paper investigates on the impact of public capital on production in the Netherlands from a regional perspective. Based on a simple growth accounting exercise, the results indicate that investment in public capital contributed 17-21% to economic growth in the Netherlands between 1971 and 2000. I

  1. EFFECT OF HUMAN CAPITAL ON MAIZE PRODUCTIVITY IN GHANA: A QUANTILE REGRESSION APPROACH

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    Isaac Nyamekye

    2016-04-01

    Full Text Available Agriculture continues to play an important role in the economy of most African countries. Thus, productivity growth in agriculture is necessary for economic growth and poverty reduction of the region. While, theoretically, investing in human capital improves productivity, the empirical evidence is somewhat mixed, especially in developing countries. In Ghana, maize is associated with household food security, and low-income households are considered food insecure if they have no maize in stock. But, due to low productivity, Ghanaian farmers are yet to produce enough to meet local demand. Using quantile and OLS regression techniques, this study contributes to the literature on human capital and productivity by assessing the effect of human capital (captured by education, farming experience and access to extension services on maize productivity in Ghana. The results suggest that although human capital has no significant effect on maize yields, its effect on productivity varies across quantiles.

  2. Drivers of occupational human capital: identifying and developing research productivity in the globalized business school Industry

    OpenAIRE

    Ryazanova, Olga

    2015-01-01

    This thesis looks at the antecedents of research productivity in business schools as part of a wider conversation on the development of occupational human capital in knowledge-intensive industries. Building upon the social capital and sociology of science literatures, the present study seeks to advance this conversation in two ways. First, it focuses on the consequences of academic researchers’ early-career and mid-career choices by exploring the interplay between organizational scripts and i...

  3. Designing an AHP methodology to prioritize critical elements for product innovation: an intellectual capital perspective

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    Costa, R. V.

    2015-08-01

    Full Text Available Intellectual capital has for the past decades been evidenced as an important source of competitive advantages and differentiation at the firm level. At the same time, innovation has become a critical factor for companies to ensure their sustainability and even their survival in a globalized business landscape. Having in mind these two crucial concepts for business success, this study intends to build on the relationships between intellectual capital and product innovation at the firm level. Specifically, we will design and test a model based on the Analytic Hierarchy Process, whose aim is to allow the prioritization of intellectual capital elements according to their relative importance for product innovation performance at the firm level. The main goal of this research is to build a diagnosis and action tool that helps business managers incorporate an intellectual capital perspective into their product innovation initiatives. This framework will help managers to better understand which intellectual capital elements are more critical to their product innovation efforts, and thereby systematize actions and clarify resource allocation priorities to improve their product innovation capabilities. In order to validate the practicability of this proposal, the methodology was empirically applied to a Portuguese innovative company.

  4. Environmental management and labour productivity: The moderating role of capital intensity.

    Science.gov (United States)

    Lannelongue, Gustavo; Gonzalez-Benito, Javier; Quiroz, Idaisa

    2017-04-01

    Recent years have seen firms improve their environmental practices, although the question still remains as to whether or not investing in such practices is or is not beneficial or simply a matter of image. This study focuses on labour productivity as a measure of performance, and we argue that the impact of greater environmental performance on that productivity is moderated by capital intensity. A sample of 2823 plants provides empirical evidence to support our approach. Specifically, the analyses, making use of estimates based on multiple regression models, reveal that environmental management has a positive impact on labour productivity in organisations with low capital intensity, although that impact becomes negative in cases of high capital intensity.

  5. Optimal Ordering and Pricing Policies for Seasonal Products: Impacts of Demand Uncertainty and Capital Constraint

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    Jinzhao Shi

    2016-01-01

    Full Text Available With a stochastic price-dependent market demand, this paper investigates how demand uncertainty and capital constraint affect retailer’s integrated ordering and pricing policies towards seasonal products. The retailer with capital constraint is normalized to be with zero capital endowment while it can be financed by an external bank. The problems are studied under a low and high demand uncertainty scenario, respectively. Results show that when demand uncertainty level is relatively low, the retailer faced with demand uncertainty always sets a lower price than the riskless one, while its order quantity may be smaller or larger than the riskless retailer’s which depends on the level of market size. When adding a capital constraint, the retailer will strictly prefer a higher price but smaller quantity policy. However, in a high demand uncertainty scenario, the impacts are more intricate. The retailer faced with demand uncertainty will always order a larger quantity than the riskless one if demand uncertainty level is high enough (above a critical value, while the capital-constrained retailer is likely to set a lower price than the well-funded one when demand uncertainty level falls within a specific interval. Therefore, it can be further concluded that the impact of capital constraint on the retailer’s pricing decision can be influenced by different demand uncertainty levels.

  6. Labour Productivity Growth and Convergence in the EU : The Role of Physical and Human Capital Accumulation

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    Inmaculada Álvarez Ayuso

    2005-07-01

    Full Text Available The aim of this article is to analyse labour productivity growth and convergence in the EU-15 countries between 1980 and 1997. Adopting a production frontier approach, labour productivity growth is broken down into components attributable to efficiency change, technological progress and capital accumulation. Furthermore, in the spirit of the Quah's approach, the dynamics of the distribution of labour productivity is also analysed. Our results show that physical and human capital accumulation appears to be the main force driving the labour productivity growth and convergence processes experienced by the European economies during these years. On the other hand, we observe that some problems appear in the EU-15 in terms of Total Factor Productivity (TFP growth.

  7. Human Resource Development, Social Capital, Emotional Intelligence: Any Link to Productivity?

    Science.gov (United States)

    Brooks, Kit; Nafukho, Fredrick Muyia

    2006-01-01

    Purpose: This article aims to offer a theoretical framework that attempts to show the integration among human resource development (HRD), social capital (SC), emotional intelligence (EI) and organizational productivity. Design/methodology/approach: The literature search included the following: a computerized search of accessible and available…

  8. Testing Students under Cognitive Capitalism: Knowledge Production of Twenty-First Century Skills

    Science.gov (United States)

    Morgan, Clara

    2016-01-01

    Scholars studying the global governance of education have noted the increasingly important role corporations play in educational policy making. I contribute to this scholarship by examining the Assessment and Teaching of twenty-first century skills (ATC21S™) project, a knowledge production apparatus operating under cognitive capitalism. I analyze…

  9. Laboratory Management, Academic Production, and the Building Blocks of Academic Capitalism

    Science.gov (United States)

    Cantwell, Brendan

    2015-01-01

    Academic capitalism has been among the most influential lines of research into markets in higher education. This paper takes up the distinct but related topic of academic production. This study makes use of a theory of fields and the concept of strategic action fields Fligstein and McAdam ("Social Theory" 29:1-26, 2011; "A theory of…

  10. Indicators of Social Capital: Social Capital as the Product of Local Interactive Learning Processes. CRLRA Discussion Paper Series.

    Science.gov (United States)

    Falk, Ian; Harrison, Lesley

    A case study in a rural Australian township attempted to determine indicators verifying the existence of social capital. Social capital is provisionally defined as the networks, norms, and trust that constitute the capacity of individuals, workplaces, groups, organizations, and communities to strive for sustainable futures in a changing…

  11. Study on Venture Capital Investment Risk Avoiding Base on Option Pricing in Agricultural Production and Processing Enterprises

    Science.gov (United States)

    Zhang, Xubo

    This paper uses the approaches and models of option theory to analyze two-stage venture capital investment in agricultural production and processing enterprises decision-making under uncertainty. Mathematics expressions of this two-stage venture capital investment decision-making are presented. An option value model about two-stage venture capital investment decision-making base on options pricing theory under the uncertainty is presented. Get the solution of option pricing model which we present.

  12. Some specification aspects for three-factor models of a company's production potential taking into account intellectual capital

    OpenAIRE

    Aivazian, S.; Afanasiev, M.; Rudenko, V.

    2012-01-01

    As a contribution to further development of the stochastic frontier methodology the specification method for a 3-factor stochastic model of the production potential of a company is given. Along with labor input and physical capital input we consider intellectual capital as a basic production factor. For the description of a random variable that defines production efficiency the truncated at zero normal distribution is used. The presented formalized scheme that is based on hypothesis testing c...

  13. The problem of non-renewable energy resources in the production of physical capital

    OpenAIRE

    Perez-Barahona, Agustin

    2007-01-01

    This paper studies the possibilities of technical progress to deal with the growth limit problem imposed by the usage of non-renewable energy resources, when physical capital production is relatively more energy-intensive than consumption. In particular, this work presents the conditions under which energy-saving technologies can sustain long-run growth, although energy is produced by means of non-renewable energy resources. The mechanism behind that is energy efficiency.

  14. Financial liberalization, growth, productivity and capital accumulation: The case of European integration

    OpenAIRE

    Gehringer, Agnieszka

    2012-01-01

    In the present contribution, we concentrate on the process of financial liberalization in a specific context of European economic and monetary integration. We implement de facto and de jure measures of financial liberalization and find that formal aspects of financial openness generate a strongly positive impact on economic growth and its sources, productivity growth and capital accumulation. Moreover, there is evidence of a positive contribution to the process stemming from the EU membership...

  15. Investimento direto externo, acumulação de capital produtivo e distribuição de renda: uma abordagem pós-keynesiana Foreign direct investment, productive capital accumulation and income distribution: a post-keynesian approach

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    Mário Augusto Bertella

    2005-04-01

    Full Text Available It is developed a macrodynamic model in the post-keynesian tradition of political economy of the productive capital accumulation and income distribution to analyze some of the impacts of the (flow of foreign direct investment and the (stock of foreign productive capital on capital accumulation, economic growth and functional income distribution in a stylized economy. Alongside a usual demand effect, the impacts of such an internationalization of local capital through labor productivity and market concentration are taken into account as well.

  16. THE PRODUCTION OF THE CAPITALISM IN THE FIELD IN GENERAL TO THE PRODUCTION OF THE CAPITALISM IN THE BRAZILIAN FIELD: THE EXPERIENCE OF THE ENCAMPMENT CARLOS MARIGHELLA (MST/BA

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    Antonio Leonan Alves Ferreira

    2010-08-01

    Full Text Available The present article defends the thesis of that the occupation of the land is presented as a historical possibility to surpass of the great contradiction that demarcates the process of production in the capitalist way to produce the life: the expropriation of the worker of the field. The problematic concerning the process of production of the capitalism in the field in more general level and Brazil, its determination historic socials, and the risks of the process of institutionalization in a particular and singular. For in such a way, it carries through a sociological analysis of the process of production of the capitalism in the field, it reflects on the production of the capitalism in the field in Brazil, and displays the risks, for the workers, of the institutionalization of the expropriation and resistance in the scope of the social fights in the present time

  17. THE IMPACT OF HUMAN CAPITAL ON LABOUR PRODUCTIVITY REGARDING ‘ET 2020’ TARGETS

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    Domicián MÁTÉ

    2016-06-01

    Full Text Available This paper is intended to clarify the European Commission’s Education and Training (ET 2020 strategy, focusing primarily on the dimension of educational attainment. According to the ET 2020, the percentage of the population aged between 30 and 34 who have completed their tertiary education, should be at least 40% by 2020. Meanwhile, also forecasts a reduction in the early school leaver rate to less than 10%. The purposes of this study are to explore the present educational attainment performance in various OECD countries and to analyse the determinants of productivity growth regarding these educational targets. We found that in long run, an increase in the level of human capital resulted in a greater increase in productivity in those countries where the tertiary education and early school leaver ratios targets are achieved. Our conclusions highlight that educational reforms are needed to rethink the establishment of knowledge societies.

  18. Rental prices, rates of return, capital aggregation and productivity : Evidence from EU and US

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    Erumban, 27675

    2008-01-01

    With the increasing importance of investment in information and communication technology, methods for measuring the contribution of capital to growth have re-assumed centre-stage in recent growth accounting literature. The importance of using capital service growth rates rather than capital stock gr

  19. "TEEB begins now": a virtual moment in the production of natural capital.

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    MacDonald, Kenneth Iain; Corson, Catherine

    2012-01-01

    This article uses theories of virtualism to analyse the role of The Economics of Ecosystems and Biodiversity (TEEB) project in the production of natural capital. Presented at the 10th Conference of the Parties to the Convention on Biological Diversity, the project seeks to redress the ‘economic invisibility of nature’ by quantifying the value of ecosystems and biodiversity. This endeavour to put an economic value on ecosystems makes nature legible by abstracting it from social and ecological contexts and making it subject to, and productive of, new market devices. In reducing the complexity of ecological dynamics to idealized categories TEEB is driven by economic ideas and idealism, and, in claiming to be a quantitative force for morality, is engaged in the production of practices designed to conform the ‘real’ to the virtual. By rendering a ‘valued’ nature legible for key audiences, TEEB has mobilized a critical mass of support including modellers, policy makers and bankers. We argue that TEEB's rhetoric of crisis and value aligns capitalism with a new kind of ecological modernization in which ‘the market’ and market devices serve as key mechanisms to conform the real and the virtual. Using the case of TEEB, and drawing on data collected at COP10, we illustrate the importance of international meetings as key points where idealized models of biodiversity protection emerge, circulate and are negotiated, and as sites where actors are aligned and articulated with these idealized models in ways that begin further processes of conforming the real with the virtual and the realization of ‘natural capital’.

  20. Workforce Diversity And Organizational Communication: Analysis Of Human Capital Performance And Productivity

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    Ephraim A. Okoro

    2012-03-01

    Full Text Available The twenty-first century organizations are increasingly becoming multicultural workplaces for communication. This paper explores recent literature on the increasing global influence of workforce diversity and its affect on workplace communication. It provides a model for the discussion of the opportunities and challenges of diversity in the workplace. The paper then provides an analytical framework that guides readers with practical ideas that can assist them in their endeavors to effectively communicate in a globally diverse work environment.  The paper stresses that effective communication in a diverse workforce ensures a high level of performance and productivity for human and intellectual capital and   provides business organizations a competitive advantage in their expanded markets and in the global economy.

  1. Cognitive Capitalism: Economic Freedom Moderates the Effects of Intellectual and Average Classes on Economic Productivity.

    Science.gov (United States)

    Coyle, Thomas R; Rindermann, Heiner; Hancock, Dale

    2016-10-01

    Cognitive ability stimulates economic productivity. However, the effects of cognitive ability may be stronger in free and open economies, where competition rewards merit and achievement. To test this hypothesis, ability levels of intellectual classes (top 5%) and average classes (country averages) were estimated using international student assessments (Programme for International Student Assessment; Trends in International Mathematics and Science Study; and Progress in International Reading Literacy Study) (N = 99 countries). The ability levels were correlated with indicators of economic freedom (Fraser Institute), scientific achievement (patent rates), innovation (Global Innovation Index), competitiveness (Global Competitiveness Index), and wealth (gross domestic product). Ability levels of intellectual and average classes strongly predicted all economic criteria. In addition, economic freedom moderated the effects of cognitive ability (for both classes), with stronger effects at higher levels of freedom. Effects were particularly robust for scientific achievements when the full range of freedom was analyzed. The results support cognitive capitalism theory: cognitive ability stimulates economic productivity, and its effects are enhanced by economic freedom.

  2. From capital to capital

    Institute of Scientific and Technical Information of China (English)

    2002-01-01

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

  3. Social capital

    OpenAIRE

    Landhäußer, Sandra; Ziegler, Holger

    2003-01-01

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

  4. Is Trust Really Social Capital? Knowledge Sharing in Product Development Projects

    Science.gov (United States)

    Bakker, Marloes; Leenders, Roger Th. A. J.; Gabbay, Shaul M.; Kratzer, Jan; Van Engelen, Jo M. L.

    2006-01-01

    Purpose: The purpose of this research is to focus on the role of trust in knowledge sharing. Social capital researchers have put forward trust as an important force behind the sharing of knowledge. This study aims to investigate whether trust indeed explains knowledge sharing relationships, or whether there are in fact much more important drivers…

  5. Capital y capital social

    OpenAIRE

    Bolívar Espinoza, Gardy Augusto; Elizalde, Antonio

    2012-01-01

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

  6. Capital y capital social

    OpenAIRE

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

    2011-01-01

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

  7. Trinidadian capitalism

    Directory of Open Access Journals (Sweden)

    Kevin A. Yelvington

    1999-07-01

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

  8. Cultural Goods Production, Cultural Capital Formation and the Provision of Cultural Services

    OpenAIRE

    Cheng, Sao-Wen

    2005-01-01

    Cultural capital is assumed to benefit all members of society. It is accumulated through the consumption of cultural services and is diminished through depreciation. Using the stock of cultural goods, cultural services are provided by the cultural services industry; the stock of cultural goods is enlarged by the flow of new cultural goods created by individuals who are both consumers and creators of culture and whose utility is positively affected by the cultural goods they created. In the no...

  9. O outro capital The other capital

    Directory of Open Access Journals (Sweden)

    Vinicius Prates da Fonseca Bueno

    2012-01-01

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

  10. Effects of the National Alcohol Program implantation at the capital goods production expansion - 1976/84; Efeitos da implantacao do Programa Nacional do Alcool sobre a expansao da producao de bens de capital - 1976/84

    Energy Technology Data Exchange (ETDEWEB)

    Guerra, Sinclair M.G.; Martino Jannuzzi, Gilberto de [Universidade Estadual de Campinas, SP (Brazil)

    1989-12-31

    The objective of this paper is to verify the expansion process of the Brazilian industry concerned with capital goods production for the alcohol and sugar sector. The expansion of the capital goods industry was one of the goals of the National Program established by the government in 1975. In the analysis, a representative sample of industries was taken in order to observe the evolution of usual parameters such as employment, sales and capacity factor, and net assets. Our results confirm the oligopoly characteristics of this industry in the country. (author). 5 tabs., 8 refs.

  11. The rate of the productivity of human resources, capital, and energy in sub-sectors of industry during 1991-2011

    Directory of Open Access Journals (Sweden)

    Morteza Parandakh

    2015-12-01

    Full Text Available This study estimated the rate of productivity of human resources, capital, and energy (electricity in a selection of sub-sectors of industry (basic metals, chemicals, non-metallic minerals, rubber and plastic products, and food products during 1991-2011 using the econometric methods. For this purpose, first, the amount of the stability of the model's variables in time series was tested. Then, the existence of co-integration between them was determined and, finally, the productivity of the model was calculated using ARDL. According to the results, the elasticity of labor force, capital and energy were 1.07, 1.47 and -0.23, respectively.

  12. Yabancı Sermaye Yatırımlarının Verimlilik ve Kalkınmaya Etkilerinin Ekonometrik İncelemesi(Econometric Analysis Of Foreign Capital Investment’s Productivity And Contributions To Growth

    Directory of Open Access Journals (Sweden)

    Y.Yüksel AYVAZ

    2006-01-01

    Full Text Available This study investigates the effects of foreign direct investments on Labor productivity and analyzes the relation between capital efficiency and labor productivity using dummy variables regression model. This investigation includes foreign-, local-, and state-owned firms. In order to measure the impact of capital on total labor productivity, KL variable is employed in the model. Having found that KL is statistically significant, the analyze shows a positive spillover of foreign capital on labor productivity.

  13. Identifying effective factors on consumers' choice behavior toward green products: the case of Tehran, the capital of Iran.

    Science.gov (United States)

    Rahnama, Hassan; Rajabpour, Shayan

    2017-01-01

    The environment is increasingly turning to a vital and very important issue for all people. By increasing environmental concerns as well as legislating and regulating rules on the protection of the environment and the emergence of green consumers, implementing green marketing approach for organizations seems to be more crucial and essential. As a result, the need for ecological products and green business activities compels companies to combine environmental issues with marketing strategies. The first step in the success of companies and organizations is to identify consumers and their consumption behaviors correctly and accurately. So, the purpose of this study is to identify effective factors for the choice of consumers of green products. We used consumption values (functional value, social value, emotional value, conditional value, epistemic value, and environmental value) as the effective factor for choosing green products. The original place of this research was in Tehran, capital city of Iran, which is one of the most polluted cities in the world due to environmental issues. The results from the survey questionnaires are analyzed using confirmatory factor analysis and structural equation modelling. The results indicated that functional value-price, functional value-quality, social value, epistemic value, and environmental value had significantly positive effects on the choice of green products; also, conditional value and emotional value had no influence on it. It was concluded that the main influential factors for consumers' choice behavior regarding green products included environmental value and epistemic value. This study emphasized the proper pricing of green products by producers and sellers.

  14. Are All Scale Economies in Banking Elusive or Illusive: Evidence Obtained by Incorporating Capital Structure and Risk Taking into Models of Bank Production

    OpenAIRE

    Joseph P. Hughes; Loretta J. Mester; Choon-Geol Moon

    2000-01-01

    This paper explores how to incorporate banks' capital structure and risk-taking into models of production. In doing so, the paper bridges the gulf between (1) the banking literature that studies moral hazard effects of bank regulation without considering the underlying microeconomics of production and (2) the literature that uses dual profit and cost functions to study the microeconomics of bank production without explicitly considering how banks' production decisions influence their riskines...

  15. CHANGE OF PARADIGM IN UNDERGROUND HARD COAL MINING THROUGH EXTRACTION AND CAPITALIZATION OF METHANE FOR ENERGY PRODUCTION

    Directory of Open Access Journals (Sweden)

    Valeriu PLESEA

    2014-05-01

    Full Text Available Besides oil and gas, coal is the most important fossil fuel for energy production. Of the energy mixture of our country, the internal production gas share is 80% of the required annual consumption, of about 14 billion cubic meters, the rest of 20% being insured by importing, by the Russian company Gazprom. The share of coal in the National Power System (NPS is of 24% and is one of the most profitable energy production sources, taking into account the continuous increase of gas price and its dependence on external suppliers. Taking into account the infestation of the atmosphere and global warming as effect of important release of greenhouse gas and carbon dioxide as a result of coal burning for energy production in thermal power plants, there is required to identify new solutions for keeping the environment clean. Such a solution is presented in the study and analysis shown in the paper and is the extraction and capitalization of methane from the coal deposits and the underground spaces remaining free after mine closures. Underground methane extraction is considered even more opportune because, during coal exploitation, large quantities of such combustible gas are released and exhausted into the atmosphere by the degasification and ventilation stations from the surface, representing and important pollution factor for the environment, as greenhouse gas with high global warming potential (high GWP of about 21 times higher than carbon dioxide.

  16. Transaction of the Derivated Financial Products on the Romanian Capital Market. Advantages and Risks

    Directory of Open Access Journals (Sweden)

    Dalia Simion

    2007-12-01

    Full Text Available The volatility and the uncertainty are extended in the global world, being favorised of the vast proportion of the internet and by the IT development. The volatility and the uncertainty are contributing to the apperance of the speculative movements that increase the posibilities of the price overestimation of some financial actives on the new markets. The overestimated and optimistic foretell on the flow of some stock exchange deeds, on the new markets, lead to the collapse of the flow and to the fast migration of the capital on the other markets, reason for which the economy of some countries or big areas could be destroied. Taking all this into account the development of the opperations with derivated financial instruments have offerd for the market participants bothe the posibility of hedging and a way of speculation. There are advantages and also disadvantages resulted from the derivated use. The derivated market, similar with the financial markets, either creates welfare, or destroies it, because provides a way to transfer the risk. The derivated help the financial markets to become more eficient and also offers better opportunities for the risk management. There is the posibility that the failure of some big transactions with derivates to lead at the appearance of a systemic risk that could spread inside the financial system.

  17. National Capital Parks-East Data Landcover Product - NOAA C-CAP Source

    Data.gov (United States)

    National Park Service, Department of the Interior — NPScape CCAP landcover (CCAP_LAC - 1996, 2001 and 2006) and landcover change (CCAP_LCC) products. Landcover change is produced from the 1996-2001 NOAA C-CAP and...

  18. Rice Growers’ Behavior of Productive Capital Input and the Influencing Factors——A Case Study of the Jiamusi Area in Heilongjiang Province

    Institute of Scientific and Technical Information of China (English)

    2012-01-01

    This article conducts empirical analysis of rice growers’ behavior of productive capital input and the influencing factors,using the input-output survey data concerning rice growing by 305 peasant households in 2009 in Huanan County and Huachuan County,Jiamusi City,Heilongjiang Province.I use Logit model to carry out econometric test of factors influencing the possibility of fixed productive investment.The test results show that family size,the proportion of non-agricultural employment,the average educational level of households,farmland area,household farming income,credit level,peasant households’ expectation of the minimum purchase price of rice,have significant effect on whether to conduct fixed productive investment,whether there are disasters has no significant effect on the scale of peasant households’ productive investment.Then I use Tobit model to carry out econometric test of factors influencing the scale of productive capital input.The results show that family size,the proportion of non-agricultural employment,the average educational level of households,farmland area,household farming income,credit level and family housing value,peasant households’ expectation of the minimum purchase price of rice,whether there are disasters,have significant effect on the scale of peasant households’ productive investment.On the basis of model test results,in order to promote the rice growers to increase fixed productive input and increase productive capital input,rational recommendations are put forward as follows:raising the minimum purchase price of rice,scaling up rice growing,making every effort to promote the educational level of rice growers,ensuring that the rice growers obtain productive capital input loans timely.

  19. Structure, Agency and Cultural Capital as Control over Knowledge Production in Policy Formation: Mozambique's Education Sector Strategic Plan

    Science.gov (United States)

    Errante, Antoinette

    2009-01-01

    As globalization has rendered knowledge constitutive of global economic capital, scholars have shifted their attention regarding Bourdieu's (1973) notion of cultural capital from one focused on the reproduction of inequalities through the processes of distribution of "official knowledge" to a focus the processes whereby dominant groups…

  20. Institutional economic analysis of vegetable production and marketing in northern Philippines: social capital, institutions and governance

    NARCIS (Netherlands)

    Milagrosa, A.

    2007-01-01

    This study examines vegetable production and marketing among indigenous communities in northernPhilippinesusing an institutional economics approach. It develops a framework that analyses the four levels of institutio

  1. Social Capital in Rural Denmark

    DEFF Research Database (Denmark)

    Svendsen, G.L.; Svendsen, Gert Tinggaard

    1999-01-01

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

  2. Capitalizing Asian Studies: Critical Scholarship and the Production of Knowledge in a Globalizing World

    Directory of Open Access Journals (Sweden)

    Tim Oakes

    2004-01-01

    Full Text Available This paper explores the implications of the related trends of economic globalization and the corporatization of higher education in the United States for Asian area studies scholarship. It argues that the scales at which geographical knowledge is produced are increasingly in flux due to the shift in global political economy. Area studies scholarship is subsequently left scrambling to both understand this shift and make its knowledge production somehow relevant and valuable in an arena in which knowledge about Asia is being produced and diffused from an increasingly diverse array of sources. In response, the paper suggests that more attention to the production of scale is needed if area studies scholars are to comprehend the changing relationship between our categories of geographic knowledge and global political economy.

  3. The Application of Mathematical Programming to the Productivity Investment Fund Program: A Capital Rationing Problem.

    Science.gov (United States)

    1987-01-01

    for Multiple Objectives." Financial Management 3 (Spring 1974), pp. 58-66. Lenio , E. "The Introduction of Uncertainty Techniques to the Productivity...probability distributions ( Lenio , 1984). Attempting to apply any formal method that requires project means, variances and known distributions (e.g., integer CCP...average of them is also not risk-free. Third, post-audit data on approved PIF projects are not available ( Lenio , 1984; General Management Systems, 1986

  4. CAPITAL STRUCTURE AND VENTURE CAPITAL

    Directory of Open Access Journals (Sweden)

    Becsky-Nagy Patricia

    2015-07-01

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

  5. Allergy Capitals

    Science.gov (United States)

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

  6. Capitalizing China

    OpenAIRE

    Joseph Fan; Randall Morck; Bernard Yeung

    2011-01-01

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

  7. Understanding Capitalism

    DEFF Research Database (Denmark)

    du Gay, Paul; Morgan, Glenn

    2013-01-01

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

  8. DOSTOYEVSKI'S "CAPITAL"

    OpenAIRE

    GUNAL, E. Zeynep

    2012-01-01

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

  9. On the capitalization and cultivation of social capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Waldstrøm, Christian

    2008-01-01

    Bourdieu's (1986) seminal definition of social capital as "the aggregate of the actual or potential resources" is reflected in older definitions, as well as in many current within sociology (e.g. Portes, 2000) and organization (Adler & Kwon, 2002). The definition is interesting, because it directs...... a dual focus on social capital as both immediately and potentially productive resources, i.e. assets that can be immediately capitalized by individuals as well as ‘cultivated' for future use. We argue that to further operationalize this concept we must distinguish between actual/potential social capital...

  10. Social capital and psychological distress.

    Science.gov (United States)

    Song, Lijun

    2011-12-01

    The author proposes a conceptual model to explain the diverse roles of social capital--resources embedded in social networks--in the social production of health. Using a unique national U.S. sample, the author estimated a path analysis model to examine the direct and indirect effects of social capital on psychological distress and its intervening effects on the relationships between other structural antecedents and psychological distress. The results show that social capital is inversely associated with psychological distress, and part of that effect is indirect through subjective social status. Social capital also acts as an intervening mechanism to link seven social factors (age, gender, race-ethnicity, education, occupational prestige, annual family income, and voluntary participation) with psychological distress. This study develops the theory of social capital as network resources and demonstrates the complex functions of social capital as a distinct social determinant of health.

  11. Innovation and venture capital exits

    NARCIS (Netherlands)

    Schwienbacher, A.

    2008-01-01

    This article analyses how start-ups financed by venture capital choose their innovation strategy based on the investor's exit preferences and thereby form different outcomes in the product market. It considers innovation choices and venture capital exits (IPO vs trade sale) in a setting in which ent

  12. Intelligence Capital

    Directory of Open Access Journals (Sweden)

    Maid Pajevic

    2011-08-01

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

  13. Capital Unchained

    DEFF Research Database (Denmark)

    Bryan, Dick; Rafferty, Michael; Wigan, Duncan

    2017-01-01

    The rise of intangible assets such as brand names, research and development, patents and other forms of abstract capital such as digital platforms and data flows has confounded extant measures and concepts of capital and accumulation. What used to be a residual asset category known as ‘goodwill......’ has now overtaken so-called fixed or tangible assets in the profitability and valuation of many leading corporations. Yet these intangible assets lead a double life as both spatial and temporal in some dimensions, yet fluid and spatio-temporally elusive in others. Using a framework focused...... on measuring (by accountants), managing (by corporations) and monitoring (by International Political Economy scholars and regulators), this article explores the longer term implications of accumulation of internationalised capital in intangible and abstract forms, and the prominent role of finance and offshore...

  14. Intelligence Capital

    OpenAIRE

    Maid Pajevic

    2011-01-01

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

  15. Five models of capitalism

    Directory of Open Access Journals (Sweden)

    Luiz Carlos Bresser-Pereira

    2012-03-01

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

  16. Measuring social capital: The Danish Cooperative Dairy Movement

    DEFF Research Database (Denmark)

    Svendsen, G.L.H.; Svendsen, Gert Tinggaard

    2000-01-01

    What are the roots of social capital and how can it be measured and built? Social capital is considered as a new production factor which must be added to the conventional concepts of human and physical capital. Social capital is productive because it increases the level of trust in a society and ...

  17. Cognitive Capitalism, Education and Digital Labor

    Science.gov (United States)

    Peters, Michael A., Ed.; Bulut, Ergin, Ed.

    2011-01-01

    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 capitalism…

  18. Cognitive Capitalism, Education and Digital Labor

    Science.gov (United States)

    Peters, Michael A., Ed.; Bulut, Ergin, Ed.

    2011-01-01

    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…

  19. Capital Challenge

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

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

  20. Social Capital, Economic Growth and Transition Economies

    DEFF Research Database (Denmark)

    Svendsen, Gert Tinggaard

    1998-01-01

    transactions to take place without third-party enforcement. Theory and lessons from empirical evidence lead to three general recommendations for building social capital in the future: First, the state must withdraw and minimize its role in the economy so to leave room for voluntary organization and free......Summary: What does social capital mean and how can it be 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...

  1. Experimentation and use of cigarette and other tobacco products among adolescents in the Brazilian state capitals (PeNSE 2012)

    OpenAIRE

    2014-01-01

    INTRODUCTION: Nicotine dependence establishes itself more rapidly among adolescents than among adults. Tobacco occupies the fourth place in the rank of main risk factors for non-communicable diseases in the continent. Studies reveal that other forms of tobacco use have increased among adolescents. METHODS: Were included the 9th grade students from the 26 State Capitals and the Federal District. who were participants of the National Adolescent School-based Health Survey (PeNSE), in 2012. ...

  2. A Doctoral Dissertation by Undesirable Learning Style——On Liu Fang's Song Dynasty Double Capital of Urban Culture and Literary Production

    Institute of Scientific and Technical Information of China (English)

    Tan Qingyang

    2011-01-01

    Recently,I saw a doctoral dissertation online.It is Liu Fang' s Song Dynasty Double Capital of Urban Culture and Literary Production which passed Ph.D.thesis defense in a university in 2008.At the first glance at the subject,it is very attractive.While I read the afterword and knew the topic had won three funds given by his university,his province and the Ministry of Education respectively,it seemed even better.But after carefully reading the text,I was disappointed.We can say that it is not only filled with faults everywhere,but also by undesirable learning style.

  3. Human Capital and Sustainability

    Directory of Open Access Journals (Sweden)

    Garry Jacobs

    2011-01-01

    Full Text Available A study of sustainability needs to consider the role of all forms of capital—natural, biological, social, technological, financial, cultural—and the complex ways in which they interact. All forms of capital derive their value, utility and application from human mental awareness, creativity and social innovation. This makes human capital, including social capital, the central determinant of resource productivity and sustainability. Humanity has entered the Anthropocene Epoch in which human changes have become the predominant factor in evolution. Humanity is itself evolving from animal physicality to social vitality to mental individuality. This transition has profound bearing on human productive capabilities, adaptability, creativity and values, the organization of economy, public policy, social awareness and life styles that determine sustainability. This article examines the linkages between population, economic development, employment, education, health, social equity, cultural values, energy intensity and sustainability in the context of evolving human consciousness. It concludes that development of human capital is the critical determinant of long-term sustainability and that efforts to accelerate the evolution of human consciousness and emergence of mentally self-conscious individuals will be the most effective approach for ensuring a sustainable future. Education is the primary lever. Human choice matters.

  4. Človeški kapital, raziskave in razvoj ter rast produktivnosti: empirična analiza za Slovenijo = Human Capital, Research and Development and Productivity Growth: Empirical Analysis for Slovenia

    Directory of Open Access Journals (Sweden)

    Matjaž Novak

    2008-06-01

    Full Text Available The aim of this article is to present empirical estimates about the impact of human capital on labor productivity growth in the case of Slovenia. Instead the conventional methodology the methodology principally aimed at estimating the real convergence of labor productivity was used. The basic difference between both methodological frameworks is in the bias of the result. The conventional methodology estimates the growth impact of human capital directly and for this purpose empirical data on the amount of human capital are needed. However, human capital is in itself an imaginary category and there is no exact methodology for measuring its value. The results about the impact of human capital on labor productivity are therefore questionable and potentially biased. In such cases the use of methodological frameworks which estimate the growth impact of human capital indirectly is more appropriate. This was also the main reason why the methodology principally used for convergence analysis was employed in the research. In this way the obtained empirical estimates at sectoral level indicated that the basic pillars of economic growth in the case of Slovenia are in line with theoretical expectations. The results are at the same time also an argument in favor of the proposed empirical method.

  5. Is Social Capital an Effective Smoke Condenser?

    DEFF Research Database (Denmark)

    Paldam, M.; Svendsen, Gert Tinggaard

    1999-01-01

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

  6. 资产专用性、产品市场竞争和资本结构%On Asset Specialization, Product Market Competition and Capital Structure

    Institute of Scientific and Technical Information of China (English)

    马欣

    2012-01-01

      资本结构是资本所有者之间及其与公司其他利益相关者直接的契约安排的决定因素,资本结构与公司治理结构、公司战略、公司的成长以及公司的价值之间存在着重要的联系,所以资本结构成为公司重要的战略之一。本文通过研究资产专用性和产品市场竞争对公司资本结构的影响,发现我国上市公司资本结构与产品市场强度和资产专用性负相关。在高资产专用性行业,资产清算价值受到影响,产品市场竞争越激烈,发生清算的概率越大,公司负债率越低。我们运用沪深上市公司面板数据进行检验,实证分析支持我们的理论假设。%  Capital structure plays a decisive role in direct contract arrangement made among capital owners and other interest-related parties and these owners. And capital structure, as one of important strategies in a corporation, has close relation with such aspects as the corporate governance structure, the value and the development strategy. The paper, through the studies on asset specialization and product market competition, finds that there is a negative correlation between capital struc-ture and market strength and asset specialization. In the highly specialized sectors, the value of asset liquidation is usually affected. The fiercer the product market becomes, the more likely the liquidation is to occur, and the lower the debt ratio a company may have. By examining the panel data of the listed companies in Shanghai and Shenzhen Stock Exchanges, the paper has proved the theoretical hypothesis with its empirical analysis.

  7. Operations and maintenance performance in oil and gas production assets. Theoretical architecture and capital value theory in perspective

    Energy Technology Data Exchange (ETDEWEB)

    Liyanage, Jayantha P.

    2003-07-01

    to visualize how operations and maintenance performance makes good business sense, and more balanced information and knowledge requirements to support decisions settings. The thesis emphasizes that despite there is a popular demand on this issue, subject matter has not fully been explored within the oil and gas business environment, and even the few of more recent contributions have not adequately addressed the issue. The underlying challenges in this regard are attributed in this thesis to socio-technical complexity and causal ambiguity of operations and maintenance performance within organizational settings. And it furthermore emphasizes that the degree of such complexity and ambiguity are defined by the extent of information and knowledge asymmetries on performance. To address the issue of technical alienation of operations and maintenance performance in oil and gas business terms, the thesis attempt to generate a link between oil and gas business, oil and gas production assets, and operations and maintenance performance. The underlying assertion is that, oil and gas production portfolio of any organization bears a specific role-play in respect of what matters for commercial success of the business, and that role-play in turn is the basis to redefine the mission for operations and maintenance. And also, this mission remains the point of departure for systematic development of operations and maintenance performance architecture. The theoretical architecture that is brought into perspective in this thesis, addresses both the socio-technical complexity by dimensioning operations and maintenance performance into its constituent components, and causal ambiguity simultaneously by incorporating a logic to this dimensioning process. Equally importantly, during this effort, it also pays attention to institute relevance, completeness, and flexibility of the architecture as necessary. Moving further, the thesis elaborates on how this theoretical architecture can be extended

  8. Solow Residuals Without Capital Stocks

    DEFF Research Database (Denmark)

    Burda, Michael C.; Severgnini, Battista

    2014-01-01

    investment expenditures: one eliminates the capital stock by direct substitution, while the other employs generalized differences of detrended data and the Malmquist index. In short samples, these measures can exhibit consistently lower root mean squared errors than the Solow–Törnqvist counterpart. Capital......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 current...

  9. Flexible Capitalism

    DEFF Research Database (Denmark)

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

  10. Capital formation and productivity growth in South Korea and Taiwan : realising the catch-up potential in a world diminishing returns

    NARCIS (Netherlands)

    Timmer, Marcel; Ark, Bart van

    2000-01-01

    In this paper we reconstruct the non-residential capital stock of South Korea and Taiwan based on long-term series of investment in non-residential buildings and machinery and equipment. Secondly, we looked at the impact of capital input measures, using a stock as a well a flow measure of capital, o

  11. Methodological Approaches for Estimating Gross Regional Product after Taking into Account Depletion of Natural Resources, Environmental Pollution and Human Capital Aspects

    Directory of Open Access Journals (Sweden)

    Boris Alengordovich Korobitsyn

    2015-09-01

    Full Text Available A key indicator of the System of National Accounts of Russia at a regional scale is Gross Regional Product characterizing the value of goods and services produced in all sectors of the economy in a country and intended for final consumption, capital formation and net exports (excluding imports. From a sustainability perspective, the most weakness of GRP is that it ignores depreciation of man-made assets, natural resource depletion, environmental pollution and degradation, and potential social costs such as poorer health due to exposure to occupational hazards. Several types of alternative approaches to measuring socio-economic progress are considering for six administrative units of the Ural Federal District for the period 2006–2014. Proposed alternatives to GRP as a measure of social progress are focused on natural resource depletion, environmental externalities and some human development aspects. The most promising is the use of corrected macroeconomic indicators similar to the “genuine savings” compiled by the World Bank. Genuine savings are defined in this paper as net savings (net gross savings minus consumption of fixed capital minus the consumption of natural non-renewable resources and the monetary evaluations of damages resulting from air pollution, water pollution and waste disposal. Two main groups of non renewable resources are considered: energy resources (uranium ore, oil and natural gas and mineral resources (iron ore, copper, and aluminum. In spite of various shortcomings, this indicator represents a considerable improvement over GRP information. For example, while GRP demonstrates steady growth between 2006 and 2014 for the main Russian oil- and gas-producing regions — Hanty-Mansi and Yamalo-Nenets Autonomous Okrugs, genuine savings for these regions decreased over all period. It means that their resource-based economy could not be considered as being on a sustainable path even in the framework of

  12. Spatial Analysis Of Human Capital Structures

    Directory of Open Access Journals (Sweden)

    Gajdos Artur

    2014-12-01

    Full Text Available The main purpose of this paper is to analyse the interdependence between labour productivity and the occupational structure of human capital in a spatial cross-section. Research indicates (see Fischer 2009 the possibility to assess the impact of the quality of human capital (measured by means of the level of education on labour productivity in a spatial cross-section.

  13. Organizational Capital of the Enterprise

    Directory of Open Access Journals (Sweden)

    Vladimir Nikiforovich Belkin

    2016-09-01

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

  14. Intellectual Capital

    DEFF Research Database (Denmark)

    Mouritsen, Jan; Bukh, Per Nikolaj

    2015-01-01

    A technology tier is a level in a product system: final product, system, subsystem, component, or part. As a concept, it contrasts traditional “vertical” special technologies (for example, mechanics and electronics) and focuses “horizontal” feature technologies such as product characteristics, sa...

  15. CHANGE OF PARADIGM IN UNDERGROUND HARD COAL MINING THROUGH EXTRACTION AND CAPITALIZATION OF METHANE FOR ENERGY PRODUCTION

    OpenAIRE

    2014-01-01

    Besides oil and gas, coal is the most important fossil fuel for energy production. Of the energy mixture of our country, the internal production gas share is 80% of the required annual consumption, of about 14 billion cubic meters, the rest of 20% being insured by importing, by the Russian company Gazprom. The share of coal in the National Power System (NPS) is of 24% and is one of the most profitable energy production sources, taking into account the continuous increase of gas...

  16. The Positive and Negative Social Capital

    OpenAIRE

    Rohman, Arif

    2014-01-01

    Social capital can be useful when cooperation for mutual benefit can be facilitated by social network and norms of reciprocity (Putnam, 2000:21). In this context, both individuals and organisations agree to mobilise joint resources to achieve common outcomes which are more efficient and productive. However, the concept of social capital is not always positive.This article will discuss positive and negative social capital.

  17. Investment Problems of China Rural Human Capital

    Institute of Scientific and Technical Information of China (English)

    ZHANG Junxia; YU Jialin; CHEN Ying

    2011-01-01

    The rural human capital refers to the condensation of the physical body, knowledge, skills, and all the abilities that can improve the capacity of the rural labor productivity. The ability is a form of human capital stock and it plays an important role in China's development of rural economy and society, but at present the situation of investment in human capital in rural areas is not optimistic. A lot of problems need to be solved such as the inadequate total investment and the irrational structure, as to these issues, strategies and recommendations were proposed in order to strengthen the human capital investment.

  18. Identification of human capital needs, for the development of a production initiative for cocoa in Caqueta, 2019

    Directory of Open Access Journals (Sweden)

    Parcival Peña Torres

    2016-11-01

    Full Text Available At present to rely on productive sectors that stir the departmental economies into action it becomes necessary to advance efforts tending to strengthen those chains with international projection and that are better structured so that it allows them to answer to the requirements of the globalized market that join to the different agreements of free trade, they represent an opportunity to improve their market shares and to contribute in an increase of the regional GDP. It is a labor that must be accompanied of efforts of the different actors of the economy, but especially the productive chains must worry to improve their infrastructure, technologies, human talent, financial resources and internal processes, increasing their efficiency, with the intention to be productive and then, to be to the level of a market that have a highly competitive trend. But this competitive position is not achieved alone, needs a synergy that is structured from the management and administration of the resources that arranges the productive chain, is the human talent the responsible for generating this synergy, for which has selected the productive chain of international projection and that possess a greater degree of coordination and organization as it is the Cacao chain, identifying the needs of the qualified personnel for the development of the chains in 2019.

  19. Research regarding agro-tourism stage in Apuseni Mountains area and capitalize of traditional products through this

    Directory of Open Access Journals (Sweden)

    Ramona Ciolac

    2013-05-01

    Full Text Available Most studies have shown that rural tourism combined with rural resources and traditional products would be an important "tool" for revitalizing the rural economy, and that they should be essential components of the rural economy development strategy, desirable goal for Apuseni Mountains. A great part of the localities from this area are great keeper of traditions. If on the customs and traditions we put the mountain natural resources and specific traditional products results a valuable tourist product that could local increase revenue and attract young people in rural areas. Many rural areas have a potentially remarkable natural and cultural history, and those who developed the required tourist infrastructure (boarding/private farms, and realized tourist opportunity and have used it with success.

  20. Global capital markets: An updated profile

    Directory of Open Access Journals (Sweden)

    Filipović Miroslava

    2007-01-01

    Full Text Available More than two decades after the beginning of the financial revolution globalization of capital flows still attracts considerable attention, from both practitioners and academics. The aim of this paper is to contribute to understanding of some aspects of the global capital scene, as well as to emphasize certain developments which might illustrate its changing profile. Several fundamental perspectives profile the global capital market. A quantitative review provides a sense of sheer volumes, trends, origins and destinations of capital flows; an assessment of the global capital market’s degree of integration follows. The emergence of new (types of actors is another important aspect of the global processes, while illustrations of new market products and emerging segments may add new perspectives on the profile of the global capital market. Finally, the paper concludes with a brief overview of digitalization of the financial supply chain.

  1. Human capital, schooling and health.

    Science.gov (United States)

    Schultz, T Paul

    2003-06-01

    A consensus has been forged in the last decade that recent periods of sustained growth in total factor productivity and reduced poverty are closely associated with improvements in a population's child nutrition, adult health, and schooling, particularly in low-income countries. Estimates of the productive returns from these three forms of human capital investment are nonetheless qualified by a number of limitations in our data and analytical methods. This paper reviews the problems that occupy researchers in this field and summarizes accumulating evidence of empirical regularities. Social experiments must be designed to assess how randomized policy interventions motivate families and individuals to invest in human capital, and then measure the changed wage opportunities of those who have been induced to make these investments. Statistical estimation of wage functions that seek to represent the relationship between wage rates and a variety of human capital stocks may yield biased estimates of private rates of return from these investments for a variety of reasons. The paper summarizes several of these problems and illustrates how data and statistical methods can be used to deal with some of them. The measures of labor productivity and the proxies specified for schooling and adult health are first discussed, and then the functional relationships between human capital and wages are described. Three types of estimation problem are discussed: (1) bias due to omitted variables, such as ability or frailty; (2) bias due to the measurement of an aggregation of multiple sources of human capital, e.g. genetic and socially reproducible variation, which may contribute to different gains in worker productivity; and (3) errors in measurement of the human capital stocks. Empirical examples and illustrative estimates are surveyed.

  2. Capital Structure, Strategic Competition, and Governance

    NARCIS (Netherlands)

    T.T. Nguyen (Thuy Thu)

    2008-01-01

    textabstractThis thesis consists of four studies on the interactions of capital structure and product market competition, and on several aspects of governance, firm financing and growth. The first study investigates how competitive behavior and market uncertainty affect the capital structure of a fi

  3. Legal regulation of information and communications technologies as specific forms of production factor for capital in food industry

    Directory of Open Access Journals (Sweden)

    D. Šálková

    2009-12-01

    Full Text Available Information and communication technologies are one of factors that markedly influence agricultural primary production and food industry as well as all other branches of the national economy. Therefore, it is necessary to analyse an effect of Community legal regulations for electronic transactions on resource utility.

  4. 全要素生产率框架下的城市资本要素生产率分析%Research on the urban capital factor productivity under the framework of TFP

    Institute of Scientific and Technical Information of China (English)

    王德祥; 薛桂芝

    2016-01-01

    Most of the existing literature focuses on the TFP,and rarely pay attention to each input factor productivity.On the basis of ISP proposed by Chang et al (2012), we break through the limitation of CRS.Combining with SBM distance function and LPI, this article measured the capital factor productivity, the labor factor productivity and the land factor productivity index under the framework of TFP.The study found that TFP change was mainly driven by capital factor productivity, and to improve the capital factor productivity was the key to improve TFP.In this paper, we analyzed the influencing factors of capital factor productivity change, from the aspects of the level of economic development, urban scale, industrial structure, the degree of marketization, human capital accumulation, government scale, investment, R&D spending, FDI and infrastructure construction.The main conclusions were as follows: ①From 1998 to 2013, China's urban TFP fell by 23.03%, in which capital factor productivity fell by 60.71%;capital factor productivity of different regions, different city levels, different city types were of obvious difference.②The city scale, the degree of marketization, human capital accumulation, the investment rate and FDI capital stock are the main factors affecting the urban capital factor productivity.Larger cities holding many advantages, can better improve the capital factor productivity.The marketization advancement and human capital accumulation are conductive to capital factor productivity, according with the general law of economic development.With the spillover effect and demonstration effect, FDI capital stock promotes China's technological progress and productivity.③Capital deepening making the capital productivity lower, confirms the point view of Krugman that as the investment rate higher the marginal returns of capital diminish and capital factor productivity decline.④The secondary industry proportion is positively related to capital factor

  5. Human Capital, Wealth, and Renewable Resources

    Directory of Open Access Journals (Sweden)

    Wei-Bin ZHANG

    2014-05-01

    Full Text Available This paper studies dynamic interdependence among physical capital, resource and human capital. We integrate the Solow one-sector growth, Uzawa-Lucas two-sector and some neoclassical growth models with renewable resource models. The economic system consists of the households, production sector, resource sector and education sector. We take account of three ways of improving human capital: Arrow’s learning by producing (Arrow, 1962, Uzawa’s learning by education (Uzawa, 1965, and Zhang’s learning by consuming (Zhang, 2007. The model describes a dynamic interdependence among wealth accumulation, human capital accumulation, resource change, and division of labor under perfect competition. We simulate the model to demonstrate existence of equilibrium points and motion of the dynamic system. We also examine effects of changes in the productivity of the resource sector, the utilization efficiency of human capital, the propensity to receive education, and the propensity to save upon dynamic paths of the system.

  6. Os significados do trabalho: produção de valores como produção semiótica no capitalismo informacional The meaning of labour: the production of values as a semiotic production in informational capitalism

    Directory of Open Access Journals (Sweden)

    Marcos Dantas

    2007-06-01

    Full Text Available Em qualquer indústria, os processos de trabalho tornaram-se, no capitalismo avançado, essencialmente semióticos, isto é, o trabalhador, ao longo da cadeia produtiva que vem desde a engenharia até o ajuste e controle das máquinas, é empregado para processar informações às quais pode atribuir significados relacionados às suas situações concretas de trabalho. A compreensão desse processo ajuda a entender o conceito marxiano de trabalho concreto e pode contribuir para uma melhor compreensão da natureza do capitalismo informacional que emerge neste início de século.In advanced capitalism, in all industries the labour process has become essentially semiotic, that is, in all steps of the productive chain, from engineering to machine adjustment and control, workers are employed to process information to which they can attribute meanings related to concrete labour situations. Understanding this process helps to understand the Marxian concept of concrete labour and can contribute to a better understanding of the nature of the informational capitalism that has been emerging in the beginning of this century.

  7. Narrative ecosystems through the network analysis lens. Step one: The production of U.S. TV series, between capital and labor strategies

    Directory of Open Access Journals (Sweden)

    Marco Ruffino

    2016-06-01

    Full Text Available This paper aims to present a first step in the investigation of the environment hosting narrative ecosystems through the tools offered by Social Network Analysis (SNA. The narrative ecosystem paradigm is a cross-disciplinary approach that considers vast narratives as the result of an ecosystemic design, where a general model is developed in advance as an evolutionary system. Consistently with this systemic view, our idea is to bring the relations among the components of the ecosystems and the environment that host them (i.e. the entertainment industry to the fore through the implementation of SNA. In order to do so, we focused on the relational patterns characterizing a sample of 164 U.S. TV series aired between 1984 and 2013. For each one of them, we collected data on executive producers, broadcasters, production studios, actors and writers. Through the analysis of the networks we obtained by computing the data, we drew some conclusions regarding the effectiveness of the ecological and evolutionary paradigm, the non-rigid and opportunistic patterns of alliances and coalitions among competitive firms, the relevance of the strategies of capital implemented by the firms and the strategies of labor implemented by the people.

  8. Triads of capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase

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

  9. Influence of Workforce Ageing on Human Capital Formation

    OpenAIRE

    Stonawski, M.

    2008-01-01

    This paper addresses the question of how workforce ageing influences human capital formation, human capital deterioration, and future productivity growth. The method presented in this paper focuses on the magnitude of human capital that has been accumulated in an individual. It takes into consideration education, acquiring knowledge and experience, knowledge becoming obsolete or forgotten, as well as the impact of health. The estimated human capital curve (based on the net effect of the vario...

  10. Theorizing Emotional Capital

    NARCIS (Netherlands)

    Cottingham, M.D.

    2016-01-01

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

  11. Social Capital and Diversification of Cooperatives

    NARCIS (Netherlands)

    W. Deng (Wendong)

    2015-01-01

    markdownabstract__Abstract__ This thesis contributes to two research streams of the literature regarding agricultural cooperatives, namely, social capital and product diversification of cooperatives. First, the thesis examines the nature of a marketing cooperative by considering both its economic a

  12. Dispersion of Human Capital and Economic Growth

    OpenAIRE

    Jungsoo Park

    2004-01-01

    Based on a theoretical consideration of human capital production technology, this study empirically investigates the growth implication of dispersion of population distribution in terms of educational attainment levels. Based on a pooled 5-year interval time-series data set of 94 developed and developing countries for 1960 to 1995, the study finds that dispersion index as well as average index of human capital positively influences productivity growth. Given limited social resources for human...

  13. Is Capitalism Ethical?

    Directory of Open Access Journals (Sweden)

    Suciu T.

    2009-12-01

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

  14. Fueling innovation in medical devices (and beyond): venture capital in health care.

    Science.gov (United States)

    Ackerly, D Clay; Valverde, Ana M; Diener, Lawrence W; Dossary, Kristin L; Schulman, Kevin A

    2009-01-01

    Innovation in health care requires new ideas and the capital to develop and commercialize those ideas into products or services. The necessary capital is often "venture capital," but the link between public policy and the venture capital industry has not been well examined. In this paper we explore the link between venture capital and innovation in health care, and we present new descriptive data from a survey of health care venture capital fund managers. Respondents generally viewed policy levers (for example, reimbursement and regulations) as important risks to venture capital investments, potentially affecting their ability to raise capital for early-stage investment funds.

  15. 75 FR 4635 - Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Regulatory...

    Science.gov (United States)

    2010-01-28

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

  16. Capital Subsidies and the Underground Economy

    DEFF Research Database (Denmark)

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

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

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

    OpenAIRE

    HANNES OTTÓSSON; KIM KLYVER

    2010-01-01

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

  18. Reducing the cost of health care capital.

    Science.gov (United States)

    Silberman, R

    1984-08-01

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

  19. Modern Human Capital Management

    OpenAIRE

    Feldberger, Madita

    2008-01-01

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

  20. Handbook of Social Capital

    DEFF Research Database (Denmark)

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

  1. Social Capital Database

    DEFF Research Database (Denmark)

    Paldam, Martin; Svendsen, Gert Tinggaard

    2005-01-01

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

  2. Electronic Capitalization Asset Form

    Data.gov (United States)

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

  3. 中国寿险业资产风险、产品风险与资本的关系%The Relations among Asset Risk, Product Risk and Capital in the Chinese Life Insurance Industry

    Institute of Scientific and Technical Information of China (English)

    安超; 卞小娇

    2013-01-01

      本文检验了我国寿险业资产风险、产品风险与资本之间的关系。文章运用2005-2011年33家寿险公司的非平衡面板数据,建立联立方程的局部调整模型。研究发现:我国寿险公司的资本与资产风险并没有显著的相关性,资本与产品风险有显著的正相关,资产风险与产品风险方面有显著负相关。这说明我国保险业的风险监管制度在资产配置方面的影响力还没有发挥显著的作用;在产品开发和产品风险评估方面发挥了显著作用。%  The paper explores the relation among asset risk, product risk and capital in the Chinese life insurance industry. To examine this issue, we use the unbalanced panel data of 33 life-insurance companies from 2005 to 2011, and use a simultaneous-equation partial-adjustment model. A significant finding is that, for the Chinese life insurers the relation between capital and asset risk is not significant, but the relation between capital and product risk is positive, and the relation between asset risk and product risk is negative. This tells that the risk regulation system of Chinese life insurance industry does not have a significant influence on insurers’ asset allocation, but does work on product development and product risk assessment.

  4. Human Capital Investment and an Analysis of Its Progressive Profit

    Institute of Scientific and Technical Information of China (English)

    张德平; 孙诚

    2004-01-01

    Skilled labor force cultivated through putting in funds and time in their education are undoubtedly essential in the operation of sophisticated machines in production, but it is so also in the creation of new ideas and methods in production and other economic activities, and ultimately in the promotion of the progressive increase of material capital. Thus strengthening the investment of human capital and enriching the stock of human capital is of primary importance, especially for China, in the 21st century.

  5. Natural resources, redistribution and Human capital formation

    OpenAIRE

    Aguero, Jorge; Balcazar, Carlos Felipe; Maldonado, Stanislao; Ñopo, Hugo

    2016-01-01

    How do resource booms affect human capital accumulation? We exploit time and spatial variation generated by the commodity boom across local governments in Peru to measure the effect of natural resources on human capital formation. We explore the effect of both mining production and tax revenues on test scores, finding a substantial and statistically significant effect for the latter. Transfers to local governments from mining tax revenues are linked to an increase in math test scores of aroun...

  6. Measuring Social Capital

    DEFF Research Database (Denmark)

    Svendsen, Gert Tinggaard; Bjørnskov, Christian

    2007-01-01

    How to construct a robust measure of social capital? This paper contains two contributions. The first is an attempt to establish a broad social capital measure based on four indicators, the Freedom House Index, an index of perceived corruption from Transparency International, and scores on civic...

  7. Venture capital and internationalization

    NARCIS (Netherlands)

    Schertler, Andrea; Tykvova, Tereza

    2011-01-01

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

  8. Social Capital in Asia

    DEFF Research Database (Denmark)

    Li, Peter Ping

    2014-01-01

    This article provides an overview of social capital in Asia. Social capital is trust and appears in two main forms: relational, based on societal norms, and systemic, based on societal institutions. The relational encourages personalistic transactions; and systemic trust, supports more formal...

  9. Aggregating economic capital

    NARCIS (Netherlands)

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

    2005-01-01

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

  10. Human Capital and Retirement

    NARCIS (Netherlands)

    P. Alders

    1999-01-01

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

  11. Linguistic Capital Pays Dividends

    Science.gov (United States)

    Linse, Caroline

    2013-01-01

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

  12. 76 FR 42768 - Capital Distribution

    Science.gov (United States)

    2011-07-19

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

  13. Cultural Capital Today

    DEFF Research Database (Denmark)

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

    2008-01-01

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

  14. Approaches of Russian oil companies to optimal capital structure

    Science.gov (United States)

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

    2015-11-01

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

  15. How Does Human Capital Affect on Growth in Different Economies?

    Directory of Open Access Journals (Sweden)

    Mehdi Safdari

    2010-01-01

    Full Text Available Problem statement: The main objective of this study was to investigate how human capital can affect growth in different economies. Approach: For this purpose, we investigated the model, which the growth rate of total factor productivity depends on human capital stock level using a cross-country panel approach for 104 countries in five-year intervals during the 1980-2005. Results: The finding of this study showed that human capital through its effect on the speed of technology adoption from abroad has positive effect and significantly on growth in total samples of countries while human capital directly in developed countries enter negatively inverse developing countries. Conclusion: Moreover human capital affects growth in different ways it has more effects on per capital growth through technology/catch-up component than domestic innovation component. Moreover human capital of different ways has different effects on growth but in total it has positive effect on economic growth.

  16. Human Capital and Organizational Effectiveness

    Directory of Open Access Journals (Sweden)

    Ioana Julieta Josan

    2013-05-01

    Full Text Available The new organizational changes caused by social, economic and politic reforms led to a shift in the strategic management of the companies. The growing need for professionals, who know how to generate profits, is growing and increase confidence of partners and clients, find new ideas and adapt to a dynamic market. Therefore, internally, we need an efficient management of human resources to find and retain the most suitable and efficient people which will increase productivity and face the increased acting globally competition. Currently, companies that succeed are the ones that integrate in their business strategy, an important component of development and valuation human capital. The paper aims to analyze and highlight the importance of human capital in the new organizational strategies, focused on achieving a high level of competitiveness, innovation and excellence.

  17. Higher Education in the society of virtual capitalism and postmodern individualisation: implications for the production and disclosure of knowledge in the Education field

    Directory of Open Access Journals (Sweden)

    Regina Célia Linhares Hostins

    2010-07-01

    Full Text Available In this paper, I discuss the contemporary scenario of higher education and examine the historical circumstances that have contributed to organising it the way it is today, i.e., characterised by the world domination of virtual capital and by the discourse of abstract individualisation. In order to pursue this task, I make use of ideas from Kurz, Lukács, Duarte and Moraes that, in the light of historical materialism, provide a substantial theoretical and methodological basis for understanding such reality, its history and complex relations, according to an ontological perspective. Following this view, I try both to investigate the effects of researchers and professors from the Education field joining the spirit of the epoch and to suggest ways to counteract this spirit by using criticism, aiming to make plain that presently knowledge is a commodity within the society of virtual capitalism and postmodern individualisation.

  18. 77 FR 52977 - Regulatory Capital Rules: Advanced Approaches Risk-Based Capital Rule; Market Risk Capital Rule

    Science.gov (United States)

    2012-08-30

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

  19. Cultural Capital in Context:

    DEFF Research Database (Denmark)

    Andersen, Ida Gran; Jæger, Mads Meier

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

  20. DISCREPANCIES AND CONTRADICTIONS OF INTELLECTUAL CAPITAL MEASUREMENT MODELS

    Directory of Open Access Journals (Sweden)

    Simona Survilaitė

    2014-08-01

    measurement could help enterprises to focus on the intellectual capital management itself. The main goal and concentration to the intellectual capital management and not to the understanding the concept would save time and increase the productivity and efficiency in every day’s procedural activities. Originality/Value – the ability to understand and implement intellectual capital evaluation methodology is essential for every enterprise. As a consequence, the efficiency and productivity is increasing and the value of the company is growing. Keywords: intellectual capital measurement models, knowledge based view, knowledge management, value creation. Research type: literature review.

  1. Dynamic Investment Behavior Taking into Account Ageing of the Capital Good

    NARCIS (Netherlands)

    Feichtinger, G.; Hartl, R.F.; Kort, P.M.; Veliov, V.

    2001-01-01

    In standard capital accumulation models all capital goods are equally productive and produce goods of the same quality.However, due to ageing, in reality it holds most of the time that newer capital goods are more productive. Implications of this feature for the firm's investment policies are invest

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

    DEFF Research Database (Denmark)

    Svendsen, Gert Tinggaard; Paldam, Martin

    1998-01-01

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

  3. Capital Projects Application (CPA)

    Data.gov (United States)

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

  4. The Genesis of Capitalism

    DEFF Research Database (Denmark)

    Li, Xing

    2004-01-01

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

  5. Unsustainable growth, unsustainable capitalism

    DEFF Research Database (Denmark)

    Næss, Petter

    2006-01-01

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

  6. Piketty’s Capital

    DEFF Research Database (Denmark)

    Larsen, Øjvind

    2016-01-01

    Piketty’s Capital in Twenty-First Century has posed a totally new platform for the discussion of the economy and capitalism. Piketty has reinvented the classical political economy founded by Adam Smith in his 1776 Wealth of Nations. Piketty has shown via massive historical research how growth...... and inequality have developed since 1793. Piketty’s conclusion is that the French Revolution did not change the existing inequality either in the medium or in the long term. Piketty’s prediction is that a new form of global capitalism will arise, patrimonial capitalism, in which inequality will develop further...... and the 1% of the World population will control 95% of all wealth in the World....

  7. 76 FR 35351 - Capital Plans

    Science.gov (United States)

    2011-06-17

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

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

    Science.gov (United States)

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

    2007-05-01

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

  9. Analisis Model Pengukuran Human Capital dalam Organisasi

    Directory of Open Access Journals (Sweden)

    Cecep Hidayat

    2013-11-01

    Full Text Available Measurement of human capital is not an easy to do because it is dynamic and always changing in accordance with the changing circumstances. Determination of dimensions and indicators of measurement needs to consider various factors such as situations and also the research scopes. This article has objectives to review the concepts, dimensions and measurement models of human capital. The research method used was literature study with a major reference source from current journal articles that discuss the measurement of human capital. Results of the study showed that basically the definition set forth in any dimension containing either explicitly or implicitly. In addition, the result indicated that there are three main categories of equality among researchers regarding the definition of human capital which emphasizes on: economic value/productivity, education, and abilities/competencies. The results also showed that the use of definitions, dimensions, and indicators for measurement of human capital depends on the situation, the scope of research, and the size of the organization. The conclusion of the study indicated that the measurement model and determination of dimensions and indicators of human capital measurement will determine the effectiveness of the measurement, and will have an impact on organizational performance.

  10. The Performance of Intellectual Capital

    DEFF Research Database (Denmark)

    Murthy, Vijaya; Mouritsen, Jan

    2011-01-01

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

  11. Entrepreneurs’ human and social capital

    DEFF Research Database (Denmark)

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

    2014-01-01

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

  12. 78 FR 62417 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-10-22

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

  13. Social Capital And Economic Behavior Of Farmers

    Directory of Open Access Journals (Sweden)

    Heliawaty

    2015-01-01

    Full Text Available Abstrac The purpose of this study to analyze the relationship between social capital affects economic behavior in producing coffee plants in improving coffee farmers income. This study was conducted in the district of Bantaeng South Sulawesi. Subdistrict Tampobulu selected purposively. The study lasted for four months of April to July 2014. The data used in this study consist of primary data and secondary data. It can be concluded that social capital is trust networking and institutions affect economic behavior namely the production of coffee plants. Trust improving technology adoption Robusta and Arabica coffee cuttings while distrust led to rampant theft of coffee is still green. Networking affect the price of coffee and institutions influence the behavior of farmers in obtaining venture capital through middlemen. It is expected that future studies should be focused on the factors that influence the innovative behavior in increasing the production of coffee plants.

  14. Capitals Cost and the Investments Actualisation Rate

    Directory of Open Access Journals (Sweden)

    Ion Stancu

    2006-04-01

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

  15. Intellectual Capital dan Ukuran Fundamental Kinerja Keuangan Perusahaan

    Directory of Open Access Journals (Sweden)

    Josepha C. Shanti

    2011-09-01

    Full Text Available This study aims to examine the effect of intellectual capital and the fundamental measurements of company financial performance. This study also used several control variables, namely size and type of industry. Samples used in this study is the type of company that intensively used the intellectual capital, that is the service industry. The hypothesis are tested using multiple regression. Intellectual capital in the service industry showed the influence to the company's financial performance. External size of the companies used to measure the intellectual capital is market-to-book value. Market responds to the company's profitability and company’s productivity.

  16. Energy and the capital of nations

    Science.gov (United States)

    Karakatsanis, Georgios

    2016-04-01

    The economically useful time of fossil fuels in Earth is estimated in just ~160 years, while humanity itself counts ~150*103 years. Within only ~0,15% of this time, humanity has used more energy, accumulating so much wealth than within the rest of its existence time. According to this perspective, the availability of heat gradients is what fundamentally drives the evolution of economic systems, via the extensive enhancement -or even substitution- of human labor (Ayres and Warr 2009). In the modern industrial civilization it is estimated (Kümmel 2011) that the average human ability to generate wealth (productivity) has increased by ~40%-50% -including the effects from the growth of human population- further augmented by significant economies of scale achieved in the industrial era. This process led to significant accumulation of surpluses that generally have the form of capital. Although capital is frequently confused with the stock of mechanical equipment, capital can be generalized as any form of accumulated (not currently consumed) production factor that can deliver a benefit in the future. In that sense, capital is found in various forms, such as machinery, technology or natural resources and environmental capacities. While it is expected that anthropogenic forms of capital are accumulated along the increase of energy use, natural capital should be declining, due to the validity of the Second Law of Thermodynamics (2nd Law), entropy production and -in turn- the irreversible (monotonic) consumption of exergy (Wall 2005). Regressions of the LINear EXponential (LINEX) function (an economic growth function depending linearly on energy and exponentially on output elasticity quotients) (Lindenbeger and Kummel 2011) for a number of industrialized economies -like the USA, Germany and Japan, found that output elasticities were highest for energy (except for US where it was second highest after capital); meaning that in industrial economies, energy comprises the most

  17. The dynamics of social capital in Croatia, 1995 - 2003

    Directory of Open Access Journals (Sweden)

    Štulhofer Aleksandar

    2004-01-01

    Full Text Available The concept of social capital has gained wide acceptance and use in social sciences, particularly in sociology, political science and institutional economics. Its popularity should be primarily attributed to various societal benefits, theoretically and empirically well explored, linked to the production and persistence of social capital. This paper reconsiders the dynamics of social capital in Croatia presented in a previous article (Štulhofer, 2003a. Using data from two cross-sectional nationally representative social surveys (World Values Survey - Croatia 1995, and South East European Social Survey, 2003, the authors focus on the dynamics of social capital during the 1995-2003 period. In spite of economic growth increasing political stability and advancing democratization in the observed period, the findings point to the erosion of social capital. The main factors behind the negative dynamics of social capital in Croatia seem to be growing perception of corruption and declining religiousness.

  18. Human Capital and Its Development in Present-Day Russia

    Science.gov (United States)

    Nureev, R. M.

    2010-01-01

    In the broad sense of the word human capital is a specific form of capital that is embodied in people themselves. It consists of the individual's reserve of health, knowledge, skills, abilities, and motivations that enable him to increase his labor productivity and give him an income in the form of wages, salaries, and other income. The structure…

  19. Human Capital and Cross-Country Comparison of Inequality

    NARCIS (Netherlands)

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

    2002-01-01

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

  20. Renewable Resources, Capital Accumulation, and Economic Growth

    Directory of Open Access Journals (Sweden)

    Wei-Bin Zhang

    2011-01-01

    Full Text Available This paper proposes a dynamic economic model with physical capital and renewable resources. Different from most of the neoclassical growth models with renewable resources which are based on microeconomic foundation and neglect physical capital accumulation, this study proposes a growth model with dynamics of renewable resources and physical capital accumulation. The model is a synthesis of the neoclassical growth theory and the traditional dynamic models of renewable resources with an alternative approach to household behavior. The model describes a dynamic interdependence among physical accumulation, resource change, and division of labor under perfect competition. Because of its refined economic structure, our study enables some interactions among economic variables which are not found in the existing literature on economic growth with renewable resources. We simulate the model to demonstrate the existence of equilibrium points and motion of the dynamic system. Our comparative dynamic analysis shows, for instance, that a rise in the propensity to consume the renewable resource increases the interest rate and reduces the national and production sector’s capital stocks, wage rate and level of the consumption good. Moreover, it initially reduces and then increases the capital stocks of the resource sector and the consumption and price of the renewable resource. The stock of the renewable resource is initially increased and then reduced. Finally, labor is redistributed from the production to the resource sector.

  1. Human Capital and Optimal Positive Taxation of Capital Income

    OpenAIRE

    Jacobs, B.; Bovenberg, A.L.

    2005-01-01

    This paper analyzes optimal linear taxes on capital and labor incomes in a life-cyclemodel of human capital investment, financial savings, and labor supply with heteroge-nous individuals. A dual income tax with a positive marginal tax rate on not onlylabor income but also capital income is optimal. The positive tax on capital incomeserves to alleviate the distortions of the labor tax on human capital accumulation.The optimal marginal tax rate on capital income is lower than that on labor inco...

  2. Capital Expert System

    Science.gov (United States)

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

    1987-05-01

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

  3. ANCAMAN CAPITAL INFLOW

    Directory of Open Access Journals (Sweden)

    Teguh Sihono

    2011-01-01

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

  4. Organizational networks and social capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Waldstrøm, Christian

    2013-01-01

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

  5. El capital humano en el sistema de precios Human capital in the price system

    Directory of Open Access Journals (Sweden)

    Cuevas Homero

    1996-06-01

    Full Text Available Este ensayo explora algunas implicaciones fundamentales de la introducción del capital humano en un sistema de equilibrio general de precios de producción. En particular, las implicaciones sobre las determinación de los salarios, los agregados, la homogeneidad del modelo de trabajo, las proporciones capital trabajo, la tasa natural del beneficio y las fluctuaciones de los precios de equilibrio.This essay explores some fundamental implications of the introduction of human capital in a system of general equilibrium of prices of production. In particular, the implications concerning the determination of wages, the aggregates, the homogenei ty of labor, the capital-labor ratio, the natural rate of profit and the fluctuations of equilibrium prices.

  6. Thinking strategically about capitation.

    Science.gov (United States)

    Boland, P

    1997-05-01

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

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

    DEFF Research Database (Denmark)

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

    2003-01-01

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

  8. Updating cultural capital theory

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

    2011-01-01

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

  9. Contabilidad del capital intelectual

    OpenAIRE

    2007-01-01

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

  10. Raising venture capital in the biopharma industry.

    Science.gov (United States)

    Leytes, Lev J

    2002-11-15

    Raising venture capital (VC) is both an art and a science. Future entrepreneurs should carefully consider the various issues of VC financing that have a strong impact on the success of their business. In addition to attracting the best venture capital firms, these issues include such subtle but important points as the timing of financing (especially of the first round), external support sources, desirable qualities of a VC firm, amount to be raised, establishing a productive interface between the founders and the venture capitalists, and most importantly the effects of well-executed VC funding on hiring senior executives and scientific leaders.

  11. Compulsory creativity – a critique of cognitive capitalism

    DEFF Research Database (Denmark)

    Larsen, Steen Nepper

    2014-01-01

    strategies, depriving them their natural, social and individual qualities. The aim of this article is to renew and sharpen a critique of the new type of capitalism and to foster some normative bricks that might be able to inspire alternative ways of thinking and living. Keywords: Cognitive capitalism......Contemporary capitalism can be labelled cognitive capitalism. In this dynamic, demanding and extremely transformative mode of production, knowledge becomes a strategic force of production and an important commodity, while concepts and ideas become items. This article sheds light on some...... of the implications of the emergence of a cognitive capitalism. In response to modern oxymorons, such as compulsory creativity and mandatory originality, this article offers various attempts to interpret and criticise how human inventiveness and a whole range of externalities get attuned to economic and market...

  12. Thin Capitalization Rules and Multinational Firm Capital Structure

    NARCIS (Netherlands)

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

    2014-01-01

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

  13. Human Capital and Optimal Positive Taxation of Capital Income

    NARCIS (Netherlands)

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

    2005-01-01

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

  14. Social Capital, ICT Use and Company Performance

    DEFF Research Database (Denmark)

    Scupola, Ada; Steinfield, Charles; Lopez-Nicolas, Carolina

    2010-01-01

    This study explores how some uses of ICTs, as well as having social capital and other means of access to knowledge resources, are related to company performance in a knowledge-intensive business cluster. Data were collected through a survey of companies in the Medicon Valley biotech region located...... in Denmark and Southern Sweden. Responding companies included established producers of biotechnology-related products as well as small biotechnology start-up firms emphasizing research and development.  The results suggest that when ICT use was aimed at accessing and enhancing human and intellectual capital...... to information and opportunity predicted company performance, particularly for small start-up companies. The pattern of results complements prior work that establishes the importance of social capital in regional business clusters by demonstrating how certain ICT uses complement personal relationships to enhance...

  15. Social Capital, ICT Use and Company Performance

    DEFF Research Database (Denmark)

    Steinfield, Charles; Scupola, Ada; López-Nicolás, Carolina

    2009-01-01

    This study explores how some kinds of ICT uses, as well as social capital and other means of access to knowledge resources, are related to company performance in a knowledge-intensive business cluster. Data were collected through a survey of companies in the Medicon Valley biotech region located...... in Denmark and Southern Sweden. Responding companies included established producers of biotechnology-related products as well as small biotechnology start-up firms emphasizing research and development.  The results suggest that when ICT use was aimed at accessing and enhancing human and intellectual capital...... to information and opportunity predicted company performance, particularly for small start-up companies. The pattern of results complements prior work that establishes the importance of social capital in regional business clusters by demonstrating how ICT use complements personal relationships to enhance...

  16. Business Teacher Education (BTE); A Panacea for Human Capital Development in Nigeria

    Science.gov (United States)

    Okifo, Joseph; Ayo, Abel O.

    2015-01-01

    The focus of this paper is on business teacher education, a panacea for human capital development in Nigeria. Human capital suggests that education, and training, health and standard of living raises the productivity of workers and increases their lifetime earning capacity. Therefore, BTE is a panacea for human capital development because the…

  17. Using Four Capitals to Assess Watershed Sustainability

    Science.gov (United States)

    Pérez-Maqueo, Octavio; Martinez, M. Luisa; Vázquez, Gabriela; Equihua, Miguel

    2013-03-01

    The La Antigua watershed drains into the Gulf of Mexico and can be considered as one of the most important areas in Mexico because of its high productivity, history, and biodiversity, although poverty remains high in the area in spite of these positive attributes. In this study, we performed an integrated assessment of the watershed to recommend a better direction toward a sustainable management in which the four capitals (natural, human, social, and built) are balanced. We contrasted these four capitals in the municipalities of the upper, middle and lower watershed and found that natural capital (natural ecosystems and ecosystem services) was higher in the upper and middle watershed, while human and social capitals (literacy, health, education and income) were generally higher downstream. Overall, Human Development Index was negatively correlated with the percentage of natural ecosystems in the watershed, especially in the upper and lower watershed regions. Our results indicate that natural capital must be fully considered in projections for increasing human development, so that natural resources can be preserved and managed adequately while sustaining intergenerational well-being.

  18. Cooperative social capital

    Directory of Open Access Journals (Sweden)

    Oscar Acera Manero

    2005-12-01

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

  19. On Representative Social Capital

    NARCIS (Netherlands)

    Bellemare, C.; Kroger, S.

    2004-01-01

    This paper analyzes data for a random sample drawn from the Dutch population who reveal their propensity to invest and reward investments in building up social capital by means of an economic experiment.We find substantial heterogeneity and asymmetries in the propensity to invest and in the propensi

  20. Understanding your capital options.

    Science.gov (United States)

    Payne, Christopher T

    2012-05-01

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

  1. Risk capital allocation

    DEFF Research Database (Denmark)

    Hougaard, Jens Leth; Smilgins, Aleksandrs

    Risk capital allocation problems have been widely discussed in the academic literature. We consider a company with multiple subunits having individual portfolios. Hence, when portfolios of subunits are merged, a diversification benefit arises: the risk of the company as a whole is smaller than...

  2. Towards Transnational Academic Capitalism

    Science.gov (United States)

    Kauppinen, Ilkka

    2012-01-01

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

  3. Corruption and Social Capital

    DEFF Research Database (Denmark)

    Bjørnskov, Christian

    2003-01-01

    I examine the causal relation between social capiatl and corruption. A simple model illustrates potential mechanisms and yields testable implications, which I estimate in a sample of European countries. The estimated effect of social capital on corruption is found to be robust to the inclusion...... redistribution, which in turn reduces corruption....

  4. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

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

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

  5. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

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

    2012-01-01

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

  6. NANNING China's Green Capital

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ Nanning,the capital city of Guangxi province,is not only the political,economic and cultural center of the province,but also plays an important role in the economic development of southwest China.Nanning's advantageous location makes the city a commercial and communication center,opening China to Southeast Asia.

  7. Manage "Human Capital" Strategically

    Science.gov (United States)

    Odden, Allan

    2011-01-01

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

  8. Capital Structure and Assets

    DEFF Research Database (Denmark)

    Flor, Christian Riis

    2008-01-01

    post optimally sell the assets or re-optimize the capital structure. Ex ante, more uncertain asset value decreases leverage, but not firm value, and selling the assets becomes less likely. Firms should tend to invest in assets whose value is less correlated to changes in earnings and, in addition...

  9. Is capitalism possible?

    NARCIS (Netherlands)

    Gaay Fortman, B. de

    1998-01-01

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

  10. Capitalism: A System of Conspiracy

    OpenAIRE

    Das, Subhendu

    2010-01-01

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

  11. Social capital and sports clubs

    OpenAIRE

    Tacon, Richard

    2014-01-01

    Book synopsis: \\ud \\ud This volume provides a collection of critical new perspectives on social capital theory by examining how social values, power relationships, and social identity interact with social capital. This book seeks to extend this theory into what have been largely under-investigated domains, and, at the same time, address long-standing, classic questions in the literature concerning the forms, determinants, and consequences of social capital.\\ud \\ud Social capital can be unders...

  12. MODELLING SOCIAL CAPITAL AND GROWTH

    OpenAIRE

    Chou, Yuan K.

    2002-01-01

    This paper proposes three theoretical growth models incorporating social capital, based on varied expositions on the concept of social capital and the empirical evidence gathered to date. In these models, social capital impacts growth by assisting in the accumulation of human capital, by affecting financial development through its effects on collective trust and social norms, and by facilitating networking between firms that result in the creation and diffusion of business and technological i...

  13. How venture capital works.

    Science.gov (United States)

    Zider, B

    1998-01-01

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

  14. Working Paper on Social capital

    DEFF Research Database (Denmark)

    Lassen Hanan, Anne

    2013-01-01

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

  15. Bank capital management : International evidence

    NARCIS (Netherlands)

    De Jonghe, O.G.; Öztekin, Ö.

    2015-01-01

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

  16. 75 FR 6151 - Minimum Capital

    Science.gov (United States)

    2010-02-08

    ... sound operations.\\4\\ Also, section 1362(e) provides for additional capital and reserve requirements to... provide additional authorities for FHFA regarding minimum capital requirements. Section 1362(a... section.\\6\\ \\3\\ The Bank Act's current minimum capital requirements apply to the eleven banks that...

  17. CAPITAL HUMANO Y CAPACIDADES SOCIETALES DE INNOVACIÓN: CONDICIONES PARA EL DESARROLLO DE LAS EMPRESAS DE PRODUCCIÓN SOCIAL EN VENEZUELA /HUMAN CAPITAL AND CAPACITIES SOCIETALES DE INNOVATION: CONDITIONS FOR THE DEVELOPMENT OF THE COMPANIES OF SOCIAL PRODUCTION IN VENEZUELA

    Directory of Open Access Journals (Sweden)

    Belinda Elena COLINA ARENAS

    2009-01-01

    una taxonomía de CSI para estas empresas. La conclusión mas importante radica en la necesidad de fomentar una “cultura de la innovación” en el capital humano para el fortalecimiento de estas modalidades socio productivas./The objective is to offer a proposal of fortification of the human capital for the development of Capacities Societales de Innovación CSI in Companies of Social Production EPS through the restoration of an innovating culture, under the conviction of the protagónico paper that it must assume he himself in the development and consolidation of these. The EPS arise within the framework from the Registry of Companies of Social Production REPS, created in November of 2005 inserted one in the Program of Companies of Social Production, protected in the decree 3.895 of September of 2005, denominated “Endogenous Development and Companies of Social Production” (Bolivariana Republic of Venezuela, 2005 and in the frame of the Plan Oil Sowing 2006-2012; adjudging to it Petróleos de Venezuela, S.A. like strategic company of the state a catalytic function in the leverage of these modalities partner productive. The REPS represents a socioinstitucional innovation and socioproductiva Venezuelan and constitutes a fundamental strategy of the Venezuelan state in support to the consolidation of the social economy in the country. This registry has in addition the purpose of diversifying the production, of increasing and of fortifying the national productive weave and the transformation of the production relations. On the other hand the EPS represent an innovation in the Venezuelan economy social, which as much deepen the values of solidarity to the interior of these organizations, like by its relation with the communities less favored very socioeconomically. The observation of national and international bibliography specialized in the subject and of official documents took place and institutional national, plus one it interviews. Between its results they

  18. A social capital perspective to innovation management in construction

    NARCIS (Netherlands)

    Vlies, R.D. van der; Maas, G.J.

    2009-01-01

    State-of-the-art products commonly outperform construction products that are used in day to day building practice. Also construction products appear to have a diffusion curve that differs from consumer products, slower at first, more rapid later. The social capital theory helps us to understand why

  19. CREATIVE WORK UNDER COGNITIVE CAPITALISM CONDITIONS

    Directory of Open Access Journals (Sweden)

    Viktor Barhatov

    2014-07-01

    Full Text Available The transformation of production relations, which we have all witnessed during the last 20 years, has shown outdated existing theoretical approaches toward an understanding of the economy. The search for alternative ways of the economic development involves representatives of various scientific fields: post industrialism, information economy, sustainable economic development, new economy and others. Of particular interest is the concept of cognitive capitalism, which allows us to consider the transformation occurring “inside” of capitalism. This article proposes an approach to the study of the cognitive capitalism nature from the perspective of the Marxian theory, productive forces of society, and psychology. Methodological framework used has revealed contradictions of existing liberal-capitalist vector of development and the innovation-oriented economic formation.  This is based on the exploitation of economic agent’s creative work.  The technique, which allows us to assess the involvement of management in cognitive capitalism, is provided.

  20. Ensayo sobre el Capital Social

    Directory of Open Access Journals (Sweden)

    Ramón Frediani

    2011-08-01

    Full Text Available En la teoría económica existen distintas definiciones de capital: capital físico, el capital en recursos naturales, el capital financiero, el capital en infraestructura económica, el capital en infraestructura social y el capital humano. Todos ellos son condiciones necesarias para que un país alcance el desarrollo económico y social y un alto estándar y calidad de vida de sus habitantes, pero no suficientes puesto que hace falta una categoría adicional de capital. En los últimos años ha surgido el análisis de una nueva categoría: el Capital Social. El concepto se ha convertido en uno de los temas más debatidos de las ciencias sociales y políticas. Se refiere a un elemento invisible, etéreo, menos tangible que el capital humano (conocimientos y/o habilidades de los individuos o el capital físico (bienes materiales, pero que resulta decisivo para la actividad productiva, la satisfacción de las necesidades personales y el desarrollo comunitario y de una sociedad toda.

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

    Directory of Open Access Journals (Sweden)

    Ie.O. Golysheva

    2013-12-01

    next steps based on the ratio of costs and results. It was made the economic-mathematical model of dependence of the results and costs on integrated indexes of evaluation of customer capital to determine of the optimal variant of transition between quadrants. It is based on two assertions: the value of results increasing from activities of customer capital rise is proportional (with deceleration to increasing of the integral index of customer capital evaluation; the value of costs results increasing from activities of customer capital rise is proportional (with faster growth to increasing of the integral index of customer capital evaluation. Using the mathematical model it is possible to find the value of the integral index of customer capital evaluation that the company can achieve with the optimal ratio of results to costs. Note that this optimization task is advisable to perform with help of tools built-in Microsoft Excel (service «Solver». Conclusions and directions of further researches. The author formed the optimization model that allows choosing the best variant for customer capital increasing of the company by the criterion of maximum ratio of results and costs under the existing restrictions of the product price and the volume of sales, amount of financial resources and the highest possible level of customer capital. The author, using mathematical tools of differential calculus, found depending results and costs, associated with higher level of customer capital, on the integral index of customer capital evaluation. It is proposed the approach to construction of the optimization model and the econometric model improved to the economic efficiency rise of customer capital management in an enterprise. They deepen significantly the theoretical and methodological foundations of customer capital management of the company. Testing of the results in practice, improvement of optimization model and strategic actions of customer capital management of enterprises can

  2. Capital Requirements and Banks' Leniency

    DEFF Research Database (Denmark)

    Dietrich, J. Kimball; Wihlborg, Clas

    2003-01-01

    We investigate the effect of changes in capital regulation on the strictness(leniency) of loan terms using a simple model of bank capital requirements andasset quality examinations. Banks offer different levels of `leniency' in the senseof willingness to offer automatic extensions of loans...... in the presence of temporarypayment difficulties of borrowers. Banks offering lenient (less strict) loan termsmust have higher initial levels of capital and charge higher loan rates. Whencapital requirements are increased, both strict and lenient banks hold higher levelsof initial capital and they raise loan...... rates. As capital requirements increase thedifference between initial capital levels and between interest rates of strict andlenient banks decrease. Thus, higher capital requirements in recessions tend toreduce the interest rate premium paid for leniency. If a recession is interpreted asan increase...

  3. Analysis of the Transmission Path of Product Market Competitiveness Effect on Capital Structure---Introducing Mediator:Asset Specificity%产品市场竞争力对资本结构影响的传导路径分析--引入中介变量:资产专用性

    Institute of Scientific and Technical Information of China (English)

    张亚晴

    2014-01-01

    The paper studies the impact of product market competitiveness on corporations’ capital structure and tests the mediating role of asset specificity between product market competitiveness and capital structure based on the data of listed information industries in Shanghai and Shenzhen securities from 2003 to 2012.Empirical study results show that capital structure is negatively correlated with product market competitiveness,asset specificity plays a partial mediating role between product market competitiveness and capital structure.%以信息产业2003—2012年A股上市公司的数据为基础,研究企业产品市场竞争力对资本结构的影响,并检验资产专用性在产品市场竞争力与资本结构之间的中介作用。结果表明,产品市场竞争力与资产负债率显著负相关;资产专用性在产品市场竞争力与资本结构之间起到了部分中介作用。

  4. Leveraging organisational cultural capital

    Directory of Open Access Journals (Sweden)

    R Scheel

    2007-01-01

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

  5. Governing Global Capital

    DEFF Research Database (Denmark)

    Harrington, Brooke

    an institutionalist perspective, the paper examines three ways in which wealth managers, both individually and through their professional society, influence regional competition for power and wealth: 1) by finding loopholes in existing policies that limit the global flow of capital; 2) by lobbying national......How do professions affect the configuration of political economies worldwide? This study addresses the question through interviews with members of a new transnational profession - wealth management - whose innovations are reshaping the balance of power in global finance. Wealth managers specialize...... in helping elites avoid taxes and other forms of regulation. The study documents how the means through which they achieve this objective - shifting billions in private capital wealth between Asia, Africa, India and Europe - and how this affects the balance of regional economic power. Drawing from...

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

    DEFF Research Database (Denmark)

    Brogaard, Line Kai-Sørensen; Christensen, Thomas Højlund

    2011-01-01

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

  7. On the wealth of nations: Bourdieuconomics and social capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Svendsen, Gert Tinggaard

    2003-01-01

    economy theory accentuating the role of formal institutions cannot stand on its own. This implies a socio-economic approach in the study where we supplement the formal institutional thesis with Bourdieu's idea of material and immaterial forms of capital. Such new socio-economics - which might be termed...... a 'Bourdieuconomics' - implies the usage of a capital theory that, methodologically, operates with material and immaterial forms of capital at the same level. Here, we stress the particular importance of an immaterial form of capital, namely social capital, which facilitates informal human exchange thereby......Why are some countries richer than others? We suggest in the line of political economy theory that traditional production factors cannot explain the observed differences. Rather, differences in the quality of formal institutions are crucial to economic wealth. However, this type of political...

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

    Directory of Open Access Journals (Sweden)

    Krzysztof Dziekoński

    2016-01-01

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

  9. States, Social Capital and Cooperation

    DEFF Research Database (Denmark)

    Anthony, Denise L.; Campbell, John L.

    2011-01-01

    This paper reflects on Elinor Ostrom’s classic book, Governing the Commons, and much work in sociology, political science and organization studies that has appeared since its publication. We do so in order to expand our understanding of the conditions under which cooperation occurs resulting...... in the production of collective goods. We explore two issues that were underdeveloped in her book that have subsequently received much attention. First, we discuss how states can facilitate cooperative behavior short of coercively imposing it on actors. Second, we discuss how social capital can facilitate...... or undermine cooperative behavior. In both cases we focus on the important mechanisms by which each one contributes to the development of cooperative behavior and collective goods. We conclude by extending our arguments to a brief analysis of one of the world’s newest and largest collective goods...

  10. fuente de capital humano

    Directory of Open Access Journals (Sweden)

    Ligia Becerra

    2005-01-01

    Full Text Available El capital intelectual es una concepción novedosa, tipificada como un activo intangible que agrega valor a la empresa; está formado por tres componentes: el capital organizacional, el humano y el relacional. El capital humano está relacionado con el desarrollo y los conocimientos del individuo, que permite diferenciar a un profesional de otro. El objetivo de este trabajo es analizar la formación del Contador Público egresado de la Universidad de Los Andes (ULA de Trujillo, como fuente de capital humano para su desempeño profesional. Los datos se recolectaron aplicando un cuestionario a una muestra aleatoria de 47 de estos profesionales, empleando para el análisis y presentación de los resultados técnicas estadísticas. La investigación evidencia que la mayoría de los encuestados poseen un nivel de satisfacción de medio a bajo con su formación de pregrado, señalando como principales debilidades del Plan de Estudio las áreas tributaria y cambiaria, el manejo instrumental del inglés y el conocimiento de las normativas que rigen el sistema económico. La formación en algunas de estas áreas la han mejorado a través de otras actividades de capacitación. No obstante reconocen algunas fortalezas tales como: el aprendizaje y dominio de conceptos y Principios Contables de Aceptación General, las matemáticas y estadística, el manejo de la contabilidad computarizada y las habilidades para analizar e interpretar problemas contables. Se concluye que a pesar de las deficiencias, la realización de cursos de actualización, junto con las fortalezas en la formación de la carrera, ha contribuido a que el contador público egresado de la ULA de Trujillo constituya un capital humano con ventaja competitiva.

  11. Visitando vizinhos: uma análise da série histórica de produção de bens de capital no Brasil utilizando diagramas de recorrência Encountering neighbors: an analysis of capital goods production in Brazil using recurrence plot diagrams

    Directory of Open Access Journals (Sweden)

    Newton Paulo Bueno

    2009-08-01

    Full Text Available O objetivo do texto é identificar possíveis não linearidades na série de produção de bens de capital brasileira no período janeiro/1975-janeiro/2002. Utilizando a técnica de análise de séries temporais com diagramas de recorrência e o método de previsão por nearest neighbors, apresentam-se evidências de que os investimentos no Brasil - tomando como proxy a série temporal de produção de bens de capital - seguem uma dinâmica com um componente não linear determinístico não desprezível. Embora não tenha sido objetivo do texto identificar a possível fonte dessa dinâmica, os resultados empíricos alcançados autorizam a supor que a dinâmica macroeconômica brasileira pode ser mais sensível à variabilidade da política econômica do que normalmente se supõe. A implicação disso é que a capacidade de prever esses efeitos, com uma margem estatisticamente aceitável de significância, pode ser muito reduzida em períodos em que a dinâmica da série se torna mais sensível em relação às condições iniciais; as técnicas aqui empregadas, entretanto, sugerem que em certa medida é possível, senão prever a evolução dos investimentos, pelo menos identificar os períodos nos quais essa previsão é menos confiável.The objective of the paper is to identify possible non-linearities in Brazilian capital goods production in the period January/1975-January/2002. Using the techniques of recurrence plots diagrams and nearest neighbors forecasting, we found evidences that investments in Brazil present a non negligible non-linear component. Although it has not been the purpose of the paper to identify the possible source of that dynamics, the empiric results found authorize to speculate that the dynamics of some important macroeconomic variables in Brazil might be more sensitive to economic policy variability than it is usually supposed. The implication is that the ability to foresee those effects, within a significant

  12. Mobilizing social capital to deal with child labour in cocoa production: The case of community child labour monitoring system in Ghana

    NARCIS (Netherlands)

    Owusu-Amankwah, R.; Ruivenkamp, G.T.P.; Frempong, G.; Essegbey, G.

    2014-01-01

    The Government of Ghana is leading the implementation of Community Child Labour Monitoring (CCLM) System as remediation and monitoring tool to free cocoa production from the worst forms of child labour and trafficking. Through a mixed-method approach which combines exploratory qualitative and quanti

  13. TV and Capitalization of Free Time. TV Programming as Means of Production / TV y capitalización del tiempo de ocio. La programación como medio de producción

    Directory of Open Access Journals (Sweden)

    Ddo. Richard Danta; rdanta@ucu.edu.uy

    2009-01-01

    Full Text Available This paper tries to build a conceptual bridge between the communication theories and the contemporary economic ones, concentrating on the added value concept on television industry. More specifically, it pays especial attention to the idea of considering television programming as a means of production that is able to capitalize the emission by using location strategies (day and time in which a television show is offered to the target audience, as well as contents strategies (the narrative nature of TV shows as a cultural message. TV programming, discursive strategy, message, format, narrative genre and cultural proximity are some of the communication and technical categories that will be confronted and judged against economic notions of capitalized value, such as: added time, economic yield and cultural commodity; in order to formulate a theoretical model that allows to understand TV programming as a means of production in all of its industrial implications. Este trabajo intenta el acercamiento entre las teorías comunicacionales y las teorías económicas contemporáneas, centrándose en el concepto de generación de valor agregado en la industria cultural televisiva. Más específicamente, focaliza su atención en la programación televisiva considerada como un medio de producción capaz de capitalizar espacios de emisión a través de estrategias discursivas de localización (el día y hora en que se emite un programa de televisión y de estrategias discursivas de contenido (la propuesta narrativa del mensaje televisivo. Las nociones de programación, estrategia discursiva, mensaje, formato, género televisivo, y proximidad cultural serán confrontadas y vinculadas con las categorías de capitalización, tiempo agregado, rentabilidad y mercancía cultural, con el propósito de formular un modelo incipiente que permita la comprensión de la programación televisiva en tanto medio de producción, ya sea en sus cualidades económicas como en sus

  14. 人力资本专用性、创新能力与新产品开发绩效——基于技术创新类型的实证分析%Human capital specificity, innovation capabilities and new product development performance

    Institute of Scientific and Technical Information of China (English)

    吴爱华; 苏敬勤

    2012-01-01

    探索专用性程度不同的人力资本对突破性创新能力和渐进性创新能力的影响、两种不同的技术创新能力对新产品开发绩效的影响以及专用性程度不同的人力资本在创新能力与绩效之间的调节作用。以我国157家企业为样本,以企业规模、R&D投入、环境的不确定性、需求不确定性和竞争强度作为控制变量,构建理论模型并进行检验。研究结果表明:人力资本的专用性越强,渐进性产品创新能力而非突破性产品创新能力越强。然而人力资本专用性较弱并不负面影响突破性产品创新能力对新产品绩效的效果,相反,对于渐进性产品创新能力来说,弱专用性人力资本有利于新产品绩效而强专用性人力资本不利于新产品绩效。%The paper explores the effect of different degree of human capital on the radical and incremental product innovation capabili- ties, and two different kinds of technological innovation capability on new product development performance as well as the moderating effect of specific human capital between innovation competence and performance. By a survey questionnaire and interview with 157 en- terprises in China, enterprises scale, R&D investment, environmental uncertainty, demand uncertainty and competition strength as control variables, the theoretical model is empirically analyzed and tested. The results show that: when the specialty of human capital is stronger, it is the incremental (not radical) product innovation ability that is stronger. However, the specificity of human capital is weaker is not adversely affected the radical product innovation competence on new product performance, on the contrary, for incremen- tal product innovation ability, weak specific human capital is in favor of new product performance and strong specific human capital is not conducive to the performance of new products.

  15. Re-Thinking Social Capital

    Directory of Open Access Journals (Sweden)

    Zlatko Bukač

    2011-06-01

    Full Text Available The concept of social capital has been used very often in sociological researches over the last two decades. Measuring social capital in civil society, neighborhoods and educational systems is merely a part of its popular usage. Many sociologists tend to use the concept of social capital very freely and therefore expand the definition of social capital. The author’s personal experience indicates that there have been a great number of academic discussions, research planning and public speeches implementing the notion of social capital without taking a detailed consideration of what that concept truly entails. By overviewing the available literature on social capital, it is actually no wonder that both sociologists and the noted concept were in this confusing situation. As Field stated in his book Social Capital (Key Ideas, published in 2008, his work was “the first attempt to provide an extended introduction on increasingly influential concept of social capital” (Field 1. Quibria notes that even though there is a vast number of research conducted on social capital in many academic fields and with various approaches ‘the concept of social capital remains largely elusive’’(1. That obviously is not an obstacle because there is a constantly growing interest in social capital. A vast body of research concerning, measuring, and defining social capital is available today, which helps a researcher to analyze and compare all of the perspectives concerning social capital. This can be of great importance when researchers approach a somewhat new subject of research such as online communication and, more specifically, online games.

  16. CSR, SMEs and Social Capital

    DEFF Research Database (Denmark)

    Murillo, David; Vallentin, Steen

    2012-01-01

    capital are interrelated, turning social capital into a powerful instrument to better explain what academic literature has called silent CSR practices. The analysis that follows questions some of the basic tenets that underpin the branch of business ethics that deals with the nature of SMEs' approach...... this type of action d) Any study of this kind of practice requires a dual approach: a) normative when using tools developed by CSR; and b) descriptive and instrumental using the notion of social capital....

  17. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

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

    We show that the standard trust question routinely used in social capital research is importantly related to cooperation behavior and we provide a microfoundation for this relation. We run a large-scale public goods experiment over the internet in Denmark and find that the trust question is a proxy...... for cooperation preferences rather than beliefs about others' cooperation. To disentangle the preference and belief channels, we run a (standard) public goods game in which beliefs matter for cooperation choices and one (using the strategy method) in which they do not matter. We show that the "fairness question...

  18. Contratos de capital humano

    Directory of Open Access Journals (Sweden)

    Oscar Alejandro Goyes Viteri

    2005-01-01

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

  19. Ripple effects of reform on capital financing.

    Science.gov (United States)

    Arduino, Kelly

    2014-05-01

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

  20. Human Capital and Wages in Exporting Firms

    DEFF Research Database (Denmark)

    Munch, Jakob Roland; Skaksen, Jan Rose

    2006-01-01

    This paper studies the link between a firms education level, export performance and wages of its workers. We argue that firms may escape intence competition in international markets by using high skilled workers to differentiate their products. This story is consistent with our empirical results....... an export wage premium, but it accrues to workers in firms with high skill intensities.Keywords: Exports, Wages, Human Capital, Rent Sharing, Matched Worker-Firm DataJEL Classification: J30, F10, I20...

  1. The Impact of Capitalism Monetary Capital on Natural Capital%论资本主义货币资本对自然资本的影响

    Institute of Scientific and Technical Information of China (English)

    陈帅名; 陈雪琳; 楚武干

    2016-01-01

    Currency is the philosopher's stone of capitalism.Based on the currency of the new Angle of view, this paper discusses the capitalism monetary supply and contradiction with limited money to buy products and services under the natural capital, which must continue to transform the core to the monetary capital.From this point of view, it reveals the inner motivation of capitalism monetary capital to the depletion of natural capital, and the natural ecological destruction, and discusses the damage to the natural environmently the natural capital into monetary from the money accounting rules, specific currency issuance and infinite debt money three aspects cap-ital.Marx and Engels not only criticize the monetary capital dominated the alienation of human and the natural relations, but also put forward the idea of reconciliation of men with nature.%文章基于货币视角论证了在资本主义货币供应的无限性与货币购买产品和服务的有限性矛盾下自然资本必须向货币资本持续转化这一核心观点,揭示了资本主义货币资本耗费和破坏自然资本的内在动因,并从货币核算规则、货币无限发行、债务货币三方面具体论述了自然资本转化为货币资本对自然环境的破坏。马克思恩格斯不仅批判了货币资本主导下人与自然关系的异化,而且提出了实现人与自然和解的主张。

  2. Taxes and Venture Capital Support

    DEFF Research Database (Denmark)

    Keuschnigg, Christian; Nielsen, Søren Bo

    2003-01-01

    -set may paradoxically contribute to higher quality of venturecapital finance and welfare. Subsidies to physical investment in VC-backed startupsare detrimental in our framework.Keywords: Venture capital, capital gains taxation, double moral hazard.JEL-Classification: D82, G24, H24, H25......'s success, but is not verifiable. Asa result, the market equilibrium is biased towards inefficiently low venture capitalsupport. The capital gains tax becomes especially harmful, as it further impairsadvice and causes a first-order welfare loss. Once the capital gains tax is in place,limitations on loss off...

  3. Human capital and career success

    DEFF Research Database (Denmark)

    Frederiksen, Anders; Kato, Takao

    evidence for the first time for the population of workers in an entire economy (as opposed to case study evidence) on the effects of the nature and scope of human capital on career success (measured by appointments to top management). First, we confirm the beneficial effect of acquiring general human...... capital formally through schooling for career success, as well as the gender gap in career success rates. Second, broadening the scope of human capital by experiencing various occupations (becoming a generalist) is found to be advantageous for career success. Third, initial human capital earned through...

  4. From Information Capitalism to Information Socialism

    Institute of Scientific and Technical Information of China (English)

    XiaoFeng

    2005-01-01

    Information technology and information capital are both neutral in character and can serve socialism as well as capitalism. As Karst pointed out, the information society is culturally and institutionally diverse. If in their transformation into social morphology information technology and capital may both end in socialism as well as capitalism, then what is the essential distinction between information capitalism and information socialism?

  5. Human capital and optimal positive taxation of capital income

    NARCIS (Netherlands)

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

    2010-01-01

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

  6. How to invest in social capital.

    Science.gov (United States)

    Prusak, L; Cohen, D

    2001-06-01

    Business runs better when people within a company have close ties and trust one another. But the relationships that make organizations work effectively are under assault for several reasons. Building such "social capital" is difficult in volatile times. Disruptive technologies spawn new markets daily, and organizations respond with constantly changing structures. The problem is worsened by the virtuality of many of today's workplaces, with employees working off-site or on their own. What's more, few managers know how to invest in such social capital. The authors describe how managers can help their organizations thrive by making effective investments in social capital. For instance, companies that value social capital demonstrate a commitment to retention as a way of limiting workplace volatility. The authors cite SAS's extensive efforts to signal to employees that it sees them as human beings, not just workers. Managers can build trust by showing trust themselves, as well as by rewarding trust and sending clear signals to employees. They can foster cooperation by giving employees a common sense of purpose through good strategic communication and inspirational leadership. Johnson & Johnson's well-known credo, which says the company's first responsibility is to the people who use its products, has helped the company in time of adversity, as in 1982 when cyanide in Tylenol capsules killed seven people. Other methods of fostering cooperation include rewarding the behavior with cash and establishing rules that get people into the habit of cooperating. Social capital, once a given in organizations, is now rare and endangered. By investing in it, companies will be better positioned to seize the opportunities in today's volatile, virtual business environment.

  7. The Effect of Net National Product on Chinese Human Capital Investment%绿化国民收入与人力资本投资模式再解读

    Institute of Scientific and Technical Information of China (English)

    熊娜

    2012-01-01

    我国经济结构向环境友好、资源节约方向转变将影响人力资本投资模式。文中引入净国民收入资调整时,可持续经济比重上升,收入对人力资本的作用方向由负转正,人力资本投资决策由教育机会成本主导转变为收益主导,利于经济持续发展;但因当前人力资本收益多由非可持续型经济提供,提高可持续经济占比将压缩劳动力需求,加剧劳动力供给的结构性过剩;上述困境可借助消费政策予以缓解,因消费对人力资本波动的影响力远大于收入。综上,推进经济结构调整,最小化其对劳动力市场的不良冲击.应降低消费支出的泡沫比。%To readjust economic structure to resource conservation and environment friendly society, it is important to ex- plain the effect of the readjustment on labor market and then human capital investment behavior. The paper proposes to use the theory of sustainable development by introducing concept of Net National Product to improve the cointegration system consisting of logarithm of income and consumption, and average years of schooling invented by Xiong-Na. In details, the income will be adjusted by conventional gross investment, conventional net investment, green net investment and genuine investment separately. Sufficient results for modified cointegration system have been observed with the method we depicted above, which suggests the behavior of human capital investment turns to be driven by the return of education from the opportunity cost when the income is adjusted by saving rates from the conventional gross one to the genuine one. This work gives an implication that unsustainable economic activities occupy the major part of labor force in the market thus it is nessecery to crushed foam from consumption expenditure to minimize social cost of economic structure readjustment.

  8. 12 CFR 565.4 - Capital measures and capital category definitions.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Capital measures and capital category... PROMPT CORRECTIVE ACTION § 565.4 Capital measures and capital category definitions. (a) Capital measures. For purposes of section 38 and this part, the relevant capital measures shall be: (1) The total...

  9. 12 CFR 325.103 - Capital measures and capital category definitions.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Capital measures and capital category... STATEMENTS OF GENERAL POLICY CAPITAL MAINTENANCE Prompt Corrective Action § 325.103 Capital measures and capital category definitions. (a) Capital measures. For purposes of section 38 and this subpart,...

  10. Social Capital and Savings Behavior

    DEFF Research Database (Denmark)

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

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

  11. Capital loss in China's agriculture

    Institute of Scientific and Technical Information of China (English)

    Cheng Peng

    2004-01-01

    China's agriculture has contributed a lot to industrialization but it has suffered a long-run and severe capital loss.This paper provides an estimation model of capital loss in agriculture and gives some explanation in marginal approach.With an eye to a balanced and sustainable economy development, it is high time for government to do something for it.

  12. Venture Capital and Innovation Strategies

    NARCIS (Netherlands)

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

    2015-01-01

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

  13. Universities Venture into Venture Capitalism.

    Science.gov (United States)

    Desruisseaux, Paul

    2000-01-01

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

  14. Business model and Intellectual Capital

    DEFF Research Database (Denmark)

    Lindgren, Peter; Saghaug, Kristin Margrethe

    2012-01-01

    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...... in SME´s Intellectual Capital – but how to release them?...

  15. A Capital Adequacy Buffer Model

    NARCIS (Netherlands)

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

    2013-01-01

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

  16. Capital flight and political risk

    NARCIS (Netherlands)

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

    2000-01-01

    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 onc

  17. Schools, Social Capital and Space

    Science.gov (United States)

    Allan, Julie; Catts, Ralph

    2014-01-01

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

  18. San Diego's Capital Planning Process

    Science.gov (United States)

    Lytton, Michael

    2009-01-01

    This article describes San Diego's capital planning process. As part of its capital planning process, the San Diego Unified School District has developed a systematic analysis of functional quality at each of its school sites. The advantage of this approach is that it seeks to develop and apply quantifiable metrics and standards for the more…

  19. Avascular Necrosis of the Capitate

    OpenAIRE

    Bekele, Wosen; Escobedo, Eva; Allen, Robert

    2011-01-01

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

  20. 76 FR 74631 - Capital Plans

    Science.gov (United States)

    2011-12-01

    ... business or activities on the bank holding company's capital adequacy or liquidity, including revenue and... bank holding companies to submit capital plans to the Federal Reserve on an annual basis and to require such bank holding companies to obtain approval from the Federal Reserve under certain...

  1. Exploring the social capital grid

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Patulny, Roger

    2007-01-01

    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....

  2. Cultural capital as a measurand

    Science.gov (United States)

    Taymanov, R.; Sapozhnikova, K.

    2016-11-01

    The necessity for developing metrology due to extension of its application sphere is noted. The efficiency of the metrological approach to measurement of multidimensional quantities in the field of humanities is shown using the development of cultural capital interpreted by L. Harrison. The cultural capital is defined as a measure of the society structure complexity and adaptive capacity.

  3. Performance systems and social capital

    DEFF Research Database (Denmark)

    Rasmussen, Grane Mikael Gregaard; Edwards, Kasper

    2014-01-01

    from a study on implementation of a performance system in Danish construction. The results show causalities between implementing the performance system and the emergence of social capital in construction projects. Results indicate that performance systems and social capital is not mutually exclusive...

  4. [Capital accumulation patterns: capital and services in the current transformations of the health system].

    Science.gov (United States)

    de Andreazzi, Maria de Fátima Siliansky; Kornis, George Edward Machado

    2008-01-01

    The purpose of this article is to introduce elements of the capitalist society economic reproduction to the discussion around the current dynamics of health accumulation. It identifies the direction and significance of capital accumulation in the health area as well as the characteristics of the economic environment where the competition currently takes place. The hypothetic hypertrophy of the financial sphere is seen as a means for structuring the capitalist economy since the late twentieth century. The former delimitations between industrial production and service delivery are blurred and weakened; the competition process shows new features and the contradictions - internally between the different elements of the health industry and externally with other sectors - are changing. This article aggregates elements for a contemporary analysis of the "medical-industrial complex" on the basis of a theoretical-historical-conceptual approach. We identify changes in the capital dynamics of this complex at international and national level and stress the increasing role of the health services as a forefront of capital accumulation. The new approach is based on the economic thinking of Marx in addition to the current discussions about the theory of financial capital accumulation and the new productive configurations of the large corporations.

  5. Sand in the Wheels of Capitalism

    DEFF Research Database (Denmark)

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

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

  6. Social capital and localised learning

    DEFF Research Database (Denmark)

    Lorenzen, Mark

    2007-01-01

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

  7. Individual social capital and survival

    DEFF Research Database (Denmark)

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

    2014-01-01

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

  8. Human capital strategy: talent management.

    Science.gov (United States)

    Nagra, Michael

    2011-01-01

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

  9. Culture as Capital

    DEFF Research Database (Denmark)

    Kacunko, Slavko

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

  10. The Vintage Effect in TPF-Growth : An Analysis of the Age Structure of Capital

    NARCIS (Netherlands)

    Gittleman, M.; Ten Raa, T.; Wolff, E.N.

    2003-01-01

    The age structure of capital plays an important role in the measurement of productivity.It has been argued that the slowdown in the 1970 s can be ascribed to the aging of the stock of capital.In this paper we incorporate the age structure in productivity measurement.One proposition proves that Nelso

  11. Do Colleges and Universities Increase Their Region's Human Capital? Staff Report No. 401

    Science.gov (United States)

    Abel, Jaison R.; Deitz, Richard

    2009-01-01

    We investigate whether the degree production and research and development (R&D) activities of colleges and universities are related to the amount and types of human capital present in the metropolitan areas where the institutions are located. We find that degree production has only a small positive relationship with local stocks of human capital,…

  12. Human Material in the Communication of Capital

    Directory of Open Access Journals (Sweden)

    Atle Mikkola Kjøsen

    2013-09-01

    Full Text Available The purpose of this article is to interrogate Marx’s analysis of the circulation of capital through the ‘new materialist’ communications and media theory of Friedrich Kittler. It explores the connections between Marx’s commodity fetish and how Kittler posits human beings as components of an information system alongside technologies and institutions. The article ask whether a ‘non-human’ Marxist theory is possible, i.e. if it is possible to remove the human being from its privileged position in Marx’s political economy. Specifically the paper argues that human beings are programmable human matter that serves to aid the communication of value through capital’s circuit. This stance necessitates adopting the point of view of capital and the fetish, bracketing the social and moving away from categories such as labour, production and class consciousness in favour of the value form, circulation and programmability.

  13. Rural Land Capitalization and Peasants’ Income Growth

    Directory of Open Access Journals (Sweden)

    Jianping Ye

    2014-04-01

    Full Text Available Up to present, China is still represented by a typical dual society separated by both urban and rural concepts, and the income gap between the two is tending to enlarge. The low agricultural productivity and peasants’ insufficient labor skills result in slender incomes in their business, wage and transfer activities, with improvement though, which does not help to narrow the gap. Therefore, it is essential for peasants to acquire property income by means of rural land capitalization. In recent years, China has increased efforts to protect the property rights of rural land. However, there still exist multiple institutional barriers that prevent land from enforcing its capitalization feature, and shall be broken through at the shortest delay, so as to awaken the “Sleeping Capital”.

  14. 78 FR 76973 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-12-20

    ... #0; Federal Register #0; #0; #0;This section of the FEDERAL REGISTER contains regulatory documents #0..., and 225 Regulations H, Q, and Y RIN 7100-AD 87 Regulatory Capital Rules: Regulatory Capital... Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches...

  15. National Capital Planning Commission Meeting Transcripts

    Data.gov (United States)

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

  16. The Cumulative Effect of Human Capital on Economic Growth:

    Directory of Open Access Journals (Sweden)

    Sheidaei , Zahra

    2014-06-01

    Full Text Available This article studies the controversial relationship between human capital and growth through different channels using a cross-country panel approach applied for 104 countries, including 79 developing countries and 25 developed countries (OECD during 1980-2011. The analysis yields important insights into the relationship between human capital and growth. Firstly, we find a significant relationship between high levels of human capital and technology adoption Secondly, considering the levels of human capital directly as a innovation component in the productivity function shows that there is a non-linear relationship between this factor and growth. The results provide a new understanding of this relationship and to some extent contradict some earlier studies.

  17. The Influence of Social Capital and Supply Chain Integration on Product Innovation--An Empirical Investigation based on Mediating Effect in China%社会资本和供应链整合对产品创新的影响研究--基于中国实证调查的中介效应模型

    Institute of Scientific and Technical Information of China (English)

    张慧颖; 徐可; 于淏川

    2013-01-01

      文章提出了社会资本、供应链整合以及产品创新之间关系的结构模型。在中国大陆十三个省市四个行业的280家企业做了实证调查研究,运用SPSS和AMOS软件检验了社会资本对供应链整合和产品创新的逻辑关系。研究结果表明,供应链上制造企业进行产品创新项目的实施中,社会资本积极影响供应链整合和产品创新,并且供应链整合在社会资本对产品创新的影响关系中起着积极显著的中介作用,从而为企业提升产品创新能力提供理论基础和实施途径。%  Enterprise social capital directly affects the quality of supply chain integration,while supply chain integration is a key factor of the enterprise product innovation. This article proposed a structural model of social capital,supply chain integra⁃tion and product innovation. 280 enterprises from four industries in thirteen provinces of mainland China were researched empir⁃ically by using SPSS and AMOS software,the logical relationship of social capital with supply chain integration and product in⁃novation was tested. When manufacturing enterprises in the supply chain implement product innovation project,the research results show that social capital is a positive impact on supply chain integration and product innovation,and supply chain inte⁃gration plays an active intermediary role in the relations of the impact of social capital on product innovation,so as to provide a theoretical basis for enterprises to enhance product innovation capabilities and implementation approach

  18. Immigrant Capital and Entrepreneurial Opportunities

    Directory of Open Access Journals (Sweden)

    Malavika Sundararajan

    2016-01-01

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

  19. Human Capital Investment and the Value of Risky R&D Projects

    DEFF Research Database (Denmark)

    Dockner, Engelbert; Siyahhan, Baran

    We consider a firm that employs human capital to make a technological breakthrough. Since the probability of success of the breakthrough depends on the current stock of human capital the firm has an incentive to expand its human capital stock. The present value of the patent is stochastic but can...... consequences, and derive optimal investment in the stock of human capital. While optimal investment in human capital is very sensitive to its productivity do increase the probability of a breakthrough it is insensitive to changes in the volatility of the present value of the patent. The value of the firm...... be observed during the R&D phase of the project. The exogenous value of the patent determines the firm’s decisions to invest in human capital, to abandon the project if necessary, and to invest in marketing the new product. We study the corresponding optimal stopping times, determine their value and risk...

  20. Crop and Capital Anxieties

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    Uncertainties loom large over increases in grain production and farmers’incomes in China this year Ensuring steady growth in grain production and farmers’ incomes wasa primary concern among officialsand experts at an April 20 seminar

  1. Capital-imperialismo e neoliberalismo

    OpenAIRE

    Campagnaro, Yuri Gabriel

    2014-01-01

    Resumo: O marxismo interpreta o imperialismo desde Hilferding, com sua análise do capital financeiro em 1910. Lenin sintetizou o primeiro debate, caracterizando o imperialismo como uma nova fase do capitalismo, com monopólios e maior centralização do capital. O debate se estende à década de 1970 com Mandel, que identificou uma alteração na morfologia do capital de então. Os autores contemporâneos debatem o período do capitalismo após os anos 1970, entre eles David Harvey e Virgínia Fontes. Ch...

  2. Sipuleucel-T (Provenge(®))-Autopsy of an Innovative Paradigm Change in Cancer Treatment: Why a Single-Product Biotech Company Failed to Capitalize on its Breakthrough Invention.

    Science.gov (United States)

    Jarosławski, Szymon; Toumi, Mondher

    2015-10-01

    Approved by the US Food and Drug Administration (FDA) in 2010, sipuleucel-T (Provenge(®)) was the first 'personalized' cancer vaccine for the treatment of prostate cancer in a metastatic, non-symptomatic population of 30,000 men in the USA. Sipuleucel-T is prepared individually for each patient and infused in three sessions over a period of 1 month. However, in 2015, Dendreon, the owner of sipuleucel-T, filed for bankruptcy. This opinion paper reviews the probable reasons this innovative product failed to achieve commercial success. PubMed and internet searches were performed focused on pricing, reimbursement, and market access. We found that sipuleucel-T's FDA approval was delayed by 3 years, reportedly because of the vaccine's new mechanism of action. Sipuleucel-T was cleared by the European Medicines Agency 2 years later, but other national agencies were not approached. It was priced at $US93,000 for a course of treatment, and this high price combined with the company's late securement of reimbursement for the vaccine by the US Centers for Medicare and Medicaid Services (CMS) resulted in another year's delay in accessing the market. Despite a positive recommendation by the National Comprehensive Cancer Network, sipuleucel-T's complex administration, high price, and uncertainty about the reimbursement status deterred doctors from prescribing the product. Furthermore, the vaccine's supply was limited during the first year of launch due to limited manufacturing capacity. In addition, two oral metastatic prostate cancer drugs with similar survival benefits reached the US market 1 and 2 years after sipuleucel-T. Also, even though Dendreon's market capitalization topped $US7.5 billion following the FDA's approval of sipuleucel-T, this value degraded gradually until the firm's bankruptcy 5 years later. We conclude that the bankruptcy of Dendreon was largely due to the delay in securing FDA approval and CMS coverage, as well as the high cost that had to be incurred by

  3. Emerging Forms of Cultural Capital

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

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

  4. The Valuation of Organizational Capital

    Directory of Open Access Journals (Sweden)

    Fiala Roman, Borůvková Jana

    2012-12-01

    Full Text Available The authors’ aim was to create a model suitable for measuring organization capital. This model was produced by means of the Forward and Backward Stepwise methods, on the basis of company information. Low p-levels (approaching 0 show the statistical significance of all regression coefficients, including the intercept. Organizational capital of 2,796 companies in the Czech Republic was quantified. A statistically significant correlation between organizational capital and return on equity (ROE, as well as between organizational capital and return on assets (ROA, has been established. This article is a part of the results of the project No. 402/09/2057 ‘‘Measurement and Management of Intangible Assets Impact on Firm Performance’’ financed by Czech Science Foundation.

  5. Corporate governance and intellectual capital

    Directory of Open Access Journals (Sweden)

    Rahmat Alizadeh

    2014-01-01

    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.

  6. Bridges in social capital: a review of the definitions and the social capital of social capital researchers

    OpenAIRE

    Akcomak, S.

    2009-01-01

    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...

  7. ORGANIZATIONAL CAPITAL IN ENTERPRISE ARCHITECTURE

    Directory of Open Access Journals (Sweden)

    Kirill G. Skripkin

    2016-01-01

    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.

  8. The Era of Super Capitalism

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    The world has entered the "super capitalism" era when one third of its economic activities are controlled by less than 3 percent of global financial capital. This year,a global economic recession,triggered by the U.S. subprime mortgage crisis,seems unavoidable. To tackle international financial problems,Tao Dong,Chief Economist for Asia at Credit Suisse First Boston in Hong Kong,shared his insights with China Business Journal. Excerpts follow.

  9. Splendid Arts Fram Ancient Capitals

    Institute of Scientific and Technical Information of China (English)

    1998-01-01

    IT was in the golden autumn in Beijing, when the sky was high and the air clear, that I hurried to Zhongshan Park to witness the display of the songs and dances of the seven Chinese ancient capitals. The flower beds arranged for the celebration of National Day were still there and the colorful blooms looked especially bright in the sunshine. The seven cities which have served as capitals in Chinese history are Beijing,

  10. Do European capital flows comove?

    OpenAIRE

    Silvio Contessi; Pierangelo DePace

    2008-01-01

    We study the cross-sectional correlations of net, total, and disaggregated capital flows for the major source and recipient European Union countries. We seek evidence of changes in these correlations since the introduction of the euro to understand whether the European Union can be considered a unique entity with regard to its international capital flows. We first use Ng's (2006) "uniform spacing" methodology to rank cross-sectional correlations (i.e., which flows comove more) and to shed lig...

  11. Mengukur Kontribusi Human Capital terhadap Tujuan Perusahaan

    Directory of Open Access Journals (Sweden)

    Brata Wibawa Djojo

    2010-10-01

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

  12. 47 CFR 65.304 - Capital structure.

    Science.gov (United States)

    2010-10-01

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

  13. 12 CFR 208.4 - Capital adequacy.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 2 2010-01-01 2010-01-01 false Capital adequacy. 208.4 Section 208.4 Banks and... Requirements § 208.4 Capital adequacy. (a) Adequacy. A member bank's capital, as defined in appendix A to this...) Standards for evaluating capital adequacy. Standards and guidelines by which the Board evaluates the...

  14. 47 CFR 32.4540 - Other capital.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Other capital. 32.4540 Section 32.4540... FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.4540 Other capital. This... capital stock, capital recorded upon the reorganization or recapitalization of the company and...

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

    Science.gov (United States)

    Zmolek, M

    2001-01-01

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

  16. STATISTICAL MODELS OF REPRESENTING INTELLECTUAL CAPITAL

    Directory of Open Access Journals (Sweden)

    Andreea Feraru

    2016-07-01

    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.

  17. Capital versus talent. The battle that's reshaping business.

    Science.gov (United States)

    Martin, Roger L; Moldoveanu, Mihnea C

    2003-07-01

    For much of the twentieth century, labor and capital fought bitterly for control of the industrialized economy. The titans of industry ultimately won a resounding victory over the unions, but the story doesn't end there. In today's economy, value is largely the product of knowledge and information. Companies cannot generate profits without the ideas, skills, and leadership capabilities of knowledge workers. It's these factors--not technologies, not factories, and certainly not capital--that give the most successful companies their unique advantages. As knowledge workers come to realize this, and see that the demand for their talent outstrips the supply, they are steadily wresting more and more of the profits from shareholders. This time the battle is between the sources of capital and the producers of value, and how it will end is far from clear. The roots of the current conflict lie in the twentieth-century shift from industrial to managerial capitalism and the creation of a new class of professional talent, the authors explain. Since the arrival of the information-based economy in the past decade, tensions have escalated. The dramatic rise of CEO pay--and the public fire it has drawn--is a telling symptom. With this new battle, we're also witnessing a fundamental change in the political alignment of capital. The Left is now siding with "the common shareholder" against the well-compensated top tier of the labor pool. Shareholders seeing an unprecedented proportion of the return on their investments siphoned off to employees may well ask, is there no end to it? Increasingly, it's human capital that is the basis of value, and financial capital has become far more generic than shareholders would like to believe. The growing tensions between shareholders and managers cannot be ignored, and capitalism is at a crossroads--again.

  18. 76 FR 40407 - Sterling Capital Funds and Sterling Capital Management LLC; Notice of Application

    Science.gov (United States)

    2011-07-08

    ... COMMISSION Sterling Capital Funds and Sterling Capital Management LLC; Notice of Application July 1, 2011.... Applicants: Sterling Capital Funds (the ``Trust'') and Sterling Capital Management LLC (``Sterling'' and... serves as a Sub-Adviser of Sterling Capital International Fund; and Federated Investment...

  19. 12 CFR 6.4 - Capital measures and capital category definitions.

    Science.gov (United States)

    2010-01-01

    ... categories of asset quality, management, earnings, or liquidity. ... risk-based capital ratio; (2) The Tier 1 risk-based capital ratio; (3) The leverage ratio. (b) Capital...) Well capitalized if the bank: (i) Has a total risk-based capital ratio of 10.0 percent or greater;...

  20. An Economic Viewpoint on Capitalism Bashing

    OpenAIRE

    Burnete Sorin

    2016-01-01

    In this paper I discuss two long disputed notions: that capitalism without crises is a fallacy respectively that capitalism bashing, however severe, will not endanger the system itself. Yet proving both is not an easy task since the capitalism issue has always been a cupellation of theory, ideology and political precepts, which are controversial and hard to disentangle. That capitalism detractors are numberless is a truism. Yet criticism against capitalism, however fierce, has always been cle...

  1. Human Capital, Fertility, and Economic Growth

    OpenAIRE

    Gary S. Becker; Murphy, Kevin M.; Robert F. Tamura

    1990-01-01

    Our model of growth departs from both the Malthusian and neoclassical approaches by including investments in human capital. We assume, crucially, that rates of return on human capital investments rise, rather than, decline, as the stock of human capital increases, until the stock becomes large. This arises because the education sector uses human capital note intensively than either the capital producing sector of the goods producing sector. This produces multiple steady scares: an undeveloped...

  2. Agrofuels capitalism: a view from political economy.

    Science.gov (United States)

    White, Ben; Dasgupta, Anirban

    2010-01-01

    This article considers the global expansion of agrofuels feedstock production from a political economy perspective. It considers and dismisses the environmental and pro-poor developmental justifications attached to agrofuels. To local populations and direct producers, the specific destination of the crop as fuel, food, cosmetics or other final uses in faraway places is probably of less interest than the forms of (direct or indirect) appropriation of their land and the forms of their insertion or exclusion as producers in global commodity chains. Global demand for both agrofuels and food is stimulating new forms (or the resurgence of old forms) of corporate land grabbing and expropriation, and of incorporation of smallholders in contracted production. Drawing both on recent studies on agrofuels expansion and on the political economy literature on agrarian transition and capitalism in agriculture, this article raises the question whether "agrofuels capitalism" is in any way essentially different from other forms of capitalist agrarian monocrop production, and in turn whether the agrarian transitions involved require new tools of analysis.

  3. Measuring the value of groundwater and other forms of natural capital.

    Science.gov (United States)

    Fenichel, Eli P; Abbott, Joshua K; Bayham, Jude; Boone, Whitney; Haacker, Erin M K; Pfeiffer, Lisa

    2016-03-01

    Valuing natural capital is fundamental to measuring sustainability. The United Nations Environment Programme, World Bank, and other agencies have called for inclusion of the value of natural capital in sustainability metrics, such as inclusive wealth. Much has been written about the importance of natural capital, but consistent, rigorous valuation approaches compatible with the pricing of traditional forms of capital have remained elusive. We present a guiding quantitative framework enabling natural capital valuation that is fully consistent with capital theory, accounts for biophysical and economic feedbacks, and can guide interdisciplinary efforts to measure sustainability. We illustrate this framework with an application to groundwater in the Kansas High Plains Aquifer, a rapidly depleting asset supporting significant food production. We develop a 10-y time series (1996-2005) of natural capital asset prices that accounts for technological, institutional, and physical changes. Kansas lost approximately $110 million per year (2005 US dollars) of capital value through groundwater withdrawal and changes in aquifer management during the decade spanning 1996-2005. This annual loss in wealth is approximately equal to the state's 2005 budget surplus, and is substantially more than investments in schools over this period. Furthermore, real investment in agricultural capital also declined over this period. Although Kansas' depletion of water wealth is substantial, it may be tractably managed through careful groundwater management and compensating investments in other natural and traditional assets. Measurement of natural capital value is required to inform management and ongoing investments in natural assets.

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

    Directory of Open Access Journals (Sweden)

    Juan Pablo Medina

    2006-03-01

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

  5. 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

    Energy Technology Data Exchange (ETDEWEB)

    Andriot, J.; Gaussens, J. [Commissariat a l' Energie Atomique, Saclay (France). Centre d' Etudes Nucleaires

    1958-07-01

    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

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

    Science.gov (United States)

    van der Merwe, Alex

    2010-01-01

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

  7. Bookworms and Party Animals: An Artificial Labour Market with Human and Social Capital Accumulation

    Science.gov (United States)

    Farhat, Daniel

    2014-01-01

    Data show that educated workers earn higher wages and are unemployed less often. Some researchers believe that education improves a worker's productivity (or "human capital"), making them more desirable on the job market, while others believe that it improves a worker's network (or "social capital"), giving them more…

  8. Groups of Groups: The Role of Group Learning in Building Social Capital. CRLRA Discussion Paper Series.

    Science.gov (United States)

    Kilpatrick, Sue; Bell, Rowena; Falk, Ian

    The Centre for Research and Learning in Regional Australia is investigating the elements of social capital and developing a set of indicators that show when social capital is building. The indicators can be used where groups or organizations with a shared purpose engage in productive interactions that benefit not only the individual member groups…

  9. Beyond Kulturkritik: Along the Supply Chain of Contemporary Capitalism

    Directory of Open Access Journals (Sweden)

    Brett Neilson

    2014-02-01

    Full Text Available Notions of Kulturkritik stemming from twentieth century accounts of mass con-sumption present culture as an effect of the mode or relations of production. Culture becomes the means by which capitalism imposes itself as an ideological system. This paper asks how Kulturkritik might be revived or revisited in the current moment of capitalist globalisation. Focusing on changes to production systems introduced by the growth of logistics and supply chain management, it argues that cultural processes of translation, signification, communication and argument have become deeply and materially embedded in the development of capitalism. Particular attention is paid to how infrastructure and technology shape relations of capital and labour. The paper asks how the subjective force of labour can exploit the vulnerabilities inherent in supply chains and confront the networked forms of organisation that enable contemporary capitalism. Overall the aim is to establish a role for culture in struggles against capitalism and to rethink the place of critique and ideology in the wake of such an approach.

  10. INTELLECTUAL CAPITAL AS A GENERATING SOURCE OF MODERNIZATION AND INNOVATION

    Directory of Open Access Journals (Sweden)

    Bazikov A. A.

    2015-05-01

    Full Text Available The article substantiates the idea that intellectual capital while forming is aimed to the implementation of upgrades and innovations to the work of economic entities to actively improve their performance. Source for intellectual capital is labor, which is based on knowledge, skill and professionalism, and later it "turns" individuals into creative individual work. This work, incarnating in any reasonable ideas or technical development, confirms thereby generating the essence of intellectual capital. Its performance becomes visible if the virtual creative ideas are realized in practice. From this perspective, it is important to know that the formation of intellectual capital depends on the directed activities of employees in areas where they would carry it out, and classification of organizational and legal structures of business entities, but also on favorable conditions for productive creativity. In this regard, it is important to adequately assess the costs created by the new product, the share of the money earned therein by a specific intellectual capital worker. As a variant it is proposed to carry out these calculations using the practice of charging interest in the banking business

  11. Debates sobre teoría del capital On some debates in capital theory

    Directory of Open Access Journals (Sweden)

    Sen Amartya

    1998-12-01

    Full Text Available En este articulo, Amartya Sen pone en escena una de las discusiones mas candentes en el debate económico de los años sesenta y setenta -la controversia de la teoría de capital entre las escuelas de Cambridge, la inglesa y la norteamericana- a traves de dos personajes: Euda y Subhuti, este ultimo un antiguo discípulo suyo que debido a algunos deslices debe reencarnar como economista en el siglo XX. La pieza esta llena de humor e ironía y, también, de agudas observaciones sobre este debate. Joan Robinson, (1954 abrio la discusión cuando pregunto como se media el capital en funcion de de producción agregada neoclásica. Sraffa (1960 mostro que la medida de capital no es independiente de la distribución y de los precios, y Garegnani (1970, que una funcion neoclasica bien comportada descansa en supuestos y restricciones demasiado exigentes e irreales. Sen , a traves de Buda, recomienda a su discípulo: "oh, Subhuti, no gastes tu vida en un problema que qiza sea trivial".In this article, Amartya Sen dramatizes one of the most heated discussions in the economic debates of the sixties and seventies the controversy over the theory of capital between the Cambridge schools of England and America- by means of two characters: Buddha and Subhuti, the latter an old disciple who, owing to some slips, must reincarnate as an economist in the twentieth century. The piece is full of humor and irony, as well as sharp observations about this debate. Joan Robinson (1954 opened the deba te when she asked how capital was measured in the neoclassical aggregated production function. Sraffa (1960 showed that the measurement of capital is not independent from the distribution of prices, and Garegnani (1970 showed that a well behaved neoclassical production function rests upon assumptions and restrictions that are too demanding and unreal. Sen, through Buddha, recommends to his disciple: "Do not spend your life, oh Subhuti, on a problem that may be trivial.

  12. Tactics research of enterprise's manpower capital investment%论企业人力资本投资策略

    Institute of Scientific and Technical Information of China (English)

    栗会敏; 周霞

    2004-01-01

    In the era of knowledge- driven economy, the manpower capital is the most active factor of production and core of social economic development. This text proceeds with the concept of capital manpower, and probes into the importance of manpower capital investment to the survival and development of enterprises. In order to maximize the income of manpower capital investment, enterprises need to set up corresponding incentive mechanism to inspire the enthusiasm of manpower capital, and it is also the key factors that promoting the development modern economic and the enterprises' success.

  13. The Pro-Cyclical Impact of Basel III Regulatory Capital on Bank Capital Risk

    OpenAIRE

    Song, Guoxiang

    2014-01-01

    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...

  14. Intellectual Capital Management in Transport Sector

    Directory of Open Access Journals (Sweden)

    Asta Znakovaitė

    2011-03-01

    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

  15. The measurement of social capital

    Directory of Open Access Journals (Sweden)

    Ester Villalonga-Olives

    2015-01-01

    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.

  16. Health, Human Capital, and Development.

    Science.gov (United States)

    Bleakley, Hoyt

    2010-09-01

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

  17. 食品安全问题成因及其预防对策——基于广西禽畜生产现状与道德资本投入的分析%Causes of and Precautions against Food Safety Problems: An Analysis of the Current Situation of Livestock Production in Guangxi and the Moral Capital Investment

    Institute of Scientific and Technical Information of China (English)

    黄祖江

    2012-01-01

    The fundamental root causes of food safety problems are the mercenary food manufacturers’ lack of professional integrity and social morality,and the ignorance of the significant role that moral capital plays during the manufacturing process.By making investigations into the food safety problems in the process of processing and selling livestock products,the author tries to reveal the applicability of moral capital in this process and figures out effective strategies to solve food safety problems by investing moral capital into both the external and internal of the industrial chain of the livestock processing.%食品安全问题的根源是生产经营者的唯利是图,职业操守和社会道德的缺失,忽视了道德资本在企业生产经营中的重要作用。研究通过对广西禽畜食品生产经营中安全问题的调查,得出道德资本在食品生产经营中的可适用性,并通过对畜禽食品产业链的内部和外部进行道德资本的投入来有效解决食品安全生产经营的问题。

  18. Does Human Capital Contribute to Economic Growth in Mauritius?

    Science.gov (United States)

    Neeliah, Harris; Seetanah, Boopen

    2016-01-01

    Purpose: Real gross domestic product (GDP) growth for Mauritius has averaged more than 5 per cent since 1970 and GDP per capita has increased more than tenfold between 1970 and 2012, from less than $500 to more than $9,000. It has often been reported that human capital, along with other growth enablers, has played an important role in this…

  19. Financing Human Capital: Families & Society

    Directory of Open Access Journals (Sweden)

    Neantro Saavedra-Rivano

    2016-10-01

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

  20. El capital intelectual en Confamdi

    OpenAIRE

    Marulanda Lórez, Paulo César

    2012-01-01

    El “capital intelectual” es uno de los conceptos más difíciles de medir en economía. Por ello, existe un escaso consenso en la doctrina alrededor de cómo han de tratarse conceptualmente los activos intangibles y qué es lo que constituye una medición satisfactoria de los mismos. La abundante literatura acerca del capital intelectual en los últimos años, propone diversos modelos y estudios efectuados sobre esta medición, pero la falta de consenso para abordar el tema y la carencia en l...

  1. CAPITAL SOCIAL, DEMOCRACIA E DESENVOLVIMENTO

    Directory of Open Access Journals (Sweden)

    Luciene Dal Ri

    2011-12-01

    Full Text Available Este artigo apresenta uma revisão critica da literatura sobre a relação entre Capital Social, Democracia e o Desenvolvimento. É relevante refletirmos sobre estes três temas, pois não se consegue ver um distanciamento entre ambos. Todavia, como meio para promover o capital social, o desenvolvimento e a democracia, é necessária que haja uma melhoria do bem-estar social, devendo ser associada com liberdades econômicas e abertura de mercado de modo a viabilizar o crescimento econômico e a melhoria na qualidade de vida da população.

  2. LABOR AND CAPITAL: OPPOSING SYSTEMS

    Directory of Open Access Journals (Sweden)

    Adrián Sotelo Valencia

    2014-12-01

    Full Text Available During the second half of the twentieth century, and so far this century, there have been major changes such as the disintegration of the Soviet Union, the destruction of the Twin Towers or the current economic crisis sweeping the world from 2008-2009 – to be evaluated in the sense that if they have altered the essence of the capitalist system or only its form, which would rather reaffirmed their basic laws, including the world of work. We favor the latter assessment, since today the social metabolism capital is entirely universal and becomes effective, more than ever, the contradiction between her antogonica eo trabalho capital.

  3. Capital humano y capacidad humana Human capital and human capacity

    Directory of Open Access Journals (Sweden)

    Sen Amartya Kumar

    1998-12-01

    Full Text Available En este articulo se examinan las relaciones y diferencias entre el concepto de 'capital humano' y el concepto de 'capacidad humana'. El concepto de capital humano es mas limitado puesto que solo concibe las cualidades humanas en su relación con el crecimiento económico mientras que el concepto de capacidades da énfasis a la expansión de libertad humana para vivir el tipo de vida que la gente considera valedera. Cuando se adopta esa visión mas amplia, el proceso de desarrollo no puede verse simplemente como un incremento del PIB sino como la expansión de la capacidad humana para llevar una vida mas libre y mas digna.In this article the relationships and the differences between the concept of 'human capital' and the concept of 'human capability' are examined. The concept of human capital is more limited since it only conceives human qualities in relation to economic growth, whereas the concept of capabili ties puts emphasis on the expansion of human freedom to live the kind of life that people judge valuable. Whenthis broader vision is adopted, the process of development cannot be seen as simply an increase in the GNP, but rather as the expansion of the human capability to live a more free and worthy life.

  4. Does "community social capital" contribute to population health?

    Science.gov (United States)

    Folland, Sherman

    2007-06-01

    Robert Putnam showed that a social capital index, created as a weighted sum of 14 variables chosen to describe the civic degree of sociability and community mindedness, is correlated with many community outcomes, such as education, child well-being, crime, and the total mortality rate. Although correlation does not establish causation, we can find that in a large number of studies this index, a selection of its elements, or similar measures register as significantly correlated with health variables, virtually always in a direction consistent with the hypothesis that social capital improves health. The potential benefit of this relationship is substantial, especially if it proves to be robust to differences in time and place, statistical contexts, and ultimately if the relation can be supported to be causal. This paper subjects the social capital and health hypothesis to an expanded set of rigorous tests, which, by surviving, it becomes stronger or, by failing, its weaknesses are better revealed. The paper seeks to extend this body of research by a combination of study characteristics that are each relatively unusual in social capital and health research. Though causality cannot be established by these tests, the work shows that the association of social capital with health is quite robust when challenged in the following ways: (1) seven different health measures are studied, including five mortality rates; (2) the 48 contiguous states are observed at six points in time covering the years from 1978 to 1998 over four year intervals, thus forming a panel; (3) the multivariate tests feature economic variables from the production of health literature; and (4) a statistical method (instrumental variables) is applied to account for the possibility that omitted variables are confounding the social capital estimates. The results and the discussion find cases for which the social capital and health hypothesis performs only weakly, but, on the whole, the hypothesis is

  5. ROLE OF HUMAN CAPITAL INVESTMENT IN A COMPETITIVE ECONOMY

    Directory of Open Access Journals (Sweden)

    Mungiu-Pupăzan Mariana Claudia

    2012-12-01

    Full Text Available This paper wants an analysis of investment in human capital as an important resource in the economy. The paper also seeks to strengthen the argument that this resource plays an important role in a competitive economy. The essence of the idea of human capital investment is made in human resources to improve their productivity. Costs are incurred in the expectation of future benefits, hence the term "investment" in human resources. Like all investments, and there is no question if economically justified. The answer to this question depends on whether or not the benefits outweigh the costs by an amount satisfactory or not they apply standard investment criteria.

  6. Quantifying capital goods for collection and transport of waste

    DEFF Research Database (Denmark)

    Brogaard, Line Kai-Sørensen; Christensen, Thomas Højlund

    2012-01-01

    he capital goods for collection and transport of waste were quantified for different types of containers (plastic containers, cubes and steel containers) and an 18-tonnes compacting collection truck. The data were collected from producers and vendors of the bins and the truck. The service lifetime...... and the capacity of the goods were also assessed. Environmental impact assessment of the production of the capital goods revealed that, per tonne of waste handled, the truck had the largest contribution followed by the steel container. Large high density polyethylene (HDPE) containers had the lowest impact per...

  7. Capital investment as a basis for innovative enterprises’ capacity development

    Directory of Open Access Journals (Sweden)

    V.V. Shekman

    2013-03-01

    Full Text Available The aim of the article. The purpose of the article is to study the matter of investment in fixed capital of Ukraines enterprises as a basis of country innovation development and to determine the role of fixed capital investments in innovative development providing.The results of the analysis. In the article the structure and the volume of foreign investments attracting to the national economy of Ukraine during 2003-2012 are analyzed. It is determined that in spite of annual positive foreign investments volume growth in compare to the previous year the dynamic shows the investment climate deterioration because of the investment runoff. The determined trends show the problem in providing a countrys sunstainable economic development in the innovative aspect. The basis of the countrys innovative development is the investment activation into the enterprises fixed capital. The economic activity of the subjects of economy and the level of their competitiveness in domestic and foreign markets are determined by the essential level of fixed capital funds. They are the basis of the enterprise productive process. According to the analysis Ukrainian enterprises have a high level of fixed capital consumption. The rate of investments aimed to renovate fixed capital is too small. The volumes of fixed capital funds renovation and reproduction financing at the domestic enterprises reduced according to the reduction production volume and joint profits. The main source of fixed capital funds reproduction at the industrial enterprises of Ukraine is the main financial assets of the enterprise. The catastrophic lack of internal and external funds was the reason why heads of enterprises refused to implement new innovative projects and carry out all required actions on calling in accumulated credit obligations to the counteragents.Investment increasing will make it possible to renew enterprises fixed capital funds, to reorganize the coproduction and to balance the

  8. Efficiency, new equity capital enable systems to compete.

    Science.gov (United States)

    Brown, M; McCool, B P

    1985-01-01

    Because of limited cash, sponsors of some community and religious hospitals have sought to sell or lease their institutions to a not-for-profit (NFP) system or to a for-profit system. A number of national alliances address the capital formation problem of NFP institutions. Until now they have been almost exclusively concerned with acquiring less costly debt. Without new equity capital, market influence is difficult to obtain. Even well-managed voluntary systems face a serious threat from well-capitalized investor-owned systems. Increased competition among hospitals and physicians will force future advantages to those who have capital. It will also restrict funding of certain programs and services by voluntary enterprises. In anticipation of this, various forms of partnerships have developed with investor-owned systems. To regain the initiative as the premier sponsors of health care, religious and other voluntary systems must go beyond merely competing in their markets to acquiring weaker institutions. They also must revitalize private giving and excel in efficiency to offset threats from ambulatory, day-care operations and from high-technology hospitals. Structural changes in the industry can be predicted, including the following: The trend toward integration for production, financing, and marketing will continue. Public market equity capital will be increasingly used to finance medical practice. Hospitals that sell their equity values will establish service foundations. National alliances will continue, but strictly local systems will maintain operation. Investor-owned systems will move increasingly into high-technology tertiary care.

  9. National Capital Planning Commission Library contents

    Data.gov (United States)

    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.

  10. 12 CFR 615.5220 - Capitalization bylaws.

    Science.gov (United States)

    2010-01-01

    ... retirable at the sole discretion of the board, provided minimum permanent capital adequacy standards... association's funding bank in conjunction with any agreement for a transfer of capital between the...

  11. Employee Capital:Resource or Reoccurring Nightmare

    OpenAIRE

    Murphy, James Peter

    2005-01-01

    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.

  12. Social Capital. Trust and Ideology

    Directory of Open Access Journals (Sweden)

    Jacek TITTENBRUN

    2013-06-01

    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.

  13. Impression management as symbolic capital

    DEFF Research Database (Denmark)

    Lueg, Klarissa; Nielsen, Camilla

    2015-01-01

    Social Network Sites (SNS) play an increasingly important role in the European business world, especially with respect to cross-cultural impression management. Departing from the Bourdieusian concept of “capital,” this paper analyzes the differences in the use of two popular business SNS: XING...

  14. Building Social Capital for Internationalization

    Directory of Open Access Journals (Sweden)

    Suzana Braga Rodrigues

    2012-01-01

    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.

  15. Social Capital and Community Heterogeneity

    Science.gov (United States)

    Coffe, Hilde

    2009-01-01

    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 number of parties in the local party system as a more…

  16. THE INTELLECTUAL CAPITAL OF UNIVERSITIES

    Directory of Open Access Journals (Sweden)

    Bratianu Constantin

    2009-05-01

    Full Text Available The purpose of this paper is to present some of our research results concerning the intellectual capital of universities. This is an important topic of the intellectual research area since universities are knowledge intensive organizations. They contain b

  17. Capital Punishment: An International Perspective.

    Science.gov (United States)

    Kaufman, Edy

    1983-01-01

    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)

  18. School Cheating and Social Capital

    Science.gov (United States)

    Paccagnella, Marco; Sestito, Paolo

    2014-01-01

    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…

  19. Real Assets and Capital Structure

    NARCIS (Netherlands)

    Campello, M.; Giambona, E.

    2013-01-01

    We characterize the relation between asset structure and capital structure by exploiting variation in the salability of corporate assets. To establish this link, we distinguish across different assets in firms’ balance sheets (machinery, land, and buildings) and use an instrumental approach that inc

  20. Varieties of capitalism in crisis?

    DEFF Research Database (Denmark)

    Bruff, Ian; Horn, Laura

    2012-01-01

    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...

  1. CRISIS FOCUS:Alert Over Capital Inflow

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ Emerging Asia's capital markets have posted rapid gains as the pace of economic recovery in the region has increased,drawing massive investment from overseas.Governments in emerging Asia should remain vigilant and be ready to act if volatile capital inflows threaten to destabilize the region's financial markets,said the Asia Capital Markets Monitor,Asian Development Bank's annual assessment of the performance and outlook for the region's capital markets released on May18.Edited excerpts follow:

  2. Ecology, Capital, and the Nature of Our Times: Accumulation & Crisis in the Capitalist World-Ecology

    Directory of Open Access Journals (Sweden)

    Jason W. Moore

    2015-08-01

    Full Text Available In this essay, I elaborate the possibilities for a unified theory of historical capitalism - one thatviews the accumulation of capital and the production of nature (humans included! asdialectically constituted. In this view, the modern world-system is a capitalist world-ecology, aworld-historical matrix of human- and extra-human nature premised on endless commodification.The essay is organized in three movements. I begin by arguing for a reading of modernity's"interdependent master processes" (Tilly as irreducibly socio-ecological. Capitalism does notdevelop upon global nature so much as it emerges through the messy and contingent relations ofhumans with the rest of nature. Second, the paper engages Giovanni Arrighi's handling of time,space, and accumulation in The Long Twentieth Century. I highlight Arrighi 's arguments for a"structurally variant" capitalism, and the theory of organizational revolutions, as fruitful ways toconstruct a theory of capitalism as world-ecology. I conclude with a theory of accumulation andits crises as world-ecological process, building out from Marx's "general law" ofunderproduction. Historically, capitalism has been shaped by a dialectic of underproduction (toofew inputs and overproduction (too many commodities. Today, capitalism is poised for a re-emergence of underproduction crises, characterized by the insufficient flow of cheap food, fuel,labor, and energy to the productive circuit of capital. Far from the straightforward expression of"overshoot" and "peak everything," the likely resurgence of underproduction crises is anexpression of capitalism's longue duree tendency to undermine its conditions of reproduction.The world-ecological limit of capital, in other words, is capital itself

  3. The effect of human capital, social capital, and perceptual values on nascent entrepreneurs' export intentions

    DEFF Research Database (Denmark)

    Christensen, Poul Rind; Evald, Majbritt Rostgaard; Klyver, Kim

    2011-01-01

    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...

  4. 77 FR 52791 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Minimum Regulatory...

    Science.gov (United States)

    2012-08-30

    ... incorporating aspects of the BCBS's Basel II standardized framework in the ``International Convergence of... references to credit ratings. \\5\\ See BCBS, ``International Convergence of Capital Measurement and Capital...'' of common equity tier 1 capital in excess of the new minimum capital requirements. \\11\\...

  5. Psychological Capital, Career Identity and Graduate Employability in Uganda: The Mediating Role of Social Capital

    Science.gov (United States)

    Ngoma, Muhammad; Dithan Ntale, Peter

    2016-01-01

    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…

  6. Building Social Capital through Outdoor Education

    Science.gov (United States)

    Beames, Simon; Atencio, Matthew

    2008-01-01

    Over the last 15 years, the body of literature surrounding the subject of social capital has witnessed steady growth. While sociologists have extensively discussed how social capital can be created and sustained within local communities and national contexts, there is little evidence of the social capital discourse within the outdoor education…

  7. 12 CFR 615.5200 - Capital planning.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Capital planning. 615.5200 Section 615.5200 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM FUNDING AND FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Capital Adequacy § 615.5200 Capital planning. (a) The...

  8. The Maastricht gigantomachy capital and its models

    NARCIS (Netherlands)

    T.A.S.M. Panhuysen

    2009-01-01

    In this article a figured pillar capital with gigantomachy scenes will be discussed. This unique capital represents an iconographic curiosity with its gigantomachy representations on two opposite sides of the square block. Apollo and Moira are represented. The capital must date from the second quart

  9. Venture Capital Initiative: Ohio's School Improvement Effort.

    Science.gov (United States)

    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…

  10. Regulatory capital requirements and bail in mechanisms

    NARCIS (Netherlands)

    Joosen, B.P.M.; Haentjens, M.; Wessels, B.

    2015-01-01

    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, withou

  11. 78 FR 1991 - Major Capital Investment Projects

    Science.gov (United States)

    2013-01-09

    ... Capital Investment Projects; Notice of Availability of Proposed New Starts and Small Starts Policy... Part 611 RIN 2132-AB02 Major Capital Investment Projects AGENCY: Federal Transit Administration (FTA... implementation of the major capital investment program, primarily by giving the project justification...

  12. Social capital in involuntary displacement and resettlement

    NARCIS (Netherlands)

    Navarra, M.Q.; Niehof, A.; Vaart, van der W.

    2013-01-01

    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 invo

  13. The Political Economy of Capital Reallocation

    NARCIS (Netherlands)

    M. Bersem; E. Perotti; E.L. von Thadden

    2013-01-01

    In this paper we develop a positive theory of capital market frictions. We focus on a political conflict that arises between citizens with different vintages of human capital. Once human capital is sunk in a firm- or sector specific technology, stakeholders will resist the emergence of newer sectors

  14. 47 CFR 69.310 - Capital leases.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Capital leases. 69.310 Section 69.310 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) COMMON CARRIER SERVICES (CONTINUED) ACCESS CHARGES Apportionment of Net Investment § 69.310 Capital leases. Capital Leases in Account 2680 shall be...

  15. 47 CFR 32.4510 - Capital stock.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Capital stock. 32.4510 Section 32.4510... FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.4510 Capital stock. (a... received for capital stock issued and outstanding. (b) Subsidiary records shall be maintained so as to...

  16. Measuring Social Capital Accumulation in Rural Development

    Science.gov (United States)

    Teilmann, Kasper

    2012-01-01

    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,…

  17. Measuring Social Capital in Hamilton, Ontario

    Science.gov (United States)

    Kitchen, Peter; Williams, Allison; Simone, Dylan

    2012-01-01

    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…

  18. Human Capital Development: A Family Objective.

    Science.gov (United States)

    Hildebrand, Verna

    1995-01-01

    Examines the concept of human capital as an economic construct. Suggests that human capital contributes to economic development, as do physical capital or natural resources, in that its development reinforces individuals' future economic output. Suggests that this perspective may prove useful for human service professionals because funding…

  19. Heterogeneity of Human Capital and the Return

    DEFF Research Database (Denmark)

    Madsen, Erik Strøjer

    2015-01-01

    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...

  20. INSURANCE AND THE CORPORATE COST OF CAPITAL

    Directory of Open Access Journals (Sweden)

    Monika Wieczorek-Kosmala

    2012-04-01

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

  1. 12 CFR 725.5 - Capital stock.

    Science.gov (United States)

    2010-01-01

    ... 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...

  2. ACCOUNTING CHALLENGES – CAPITALIZING HUMAN VALUE

    Directory of Open Access Journals (Sweden)

    Alexandra CIOCLOV (PETCU

    2015-04-01

    Full Text Available Assessing the performance of business organisations has been a priority for all stakeholders, and this is the reason accounting has continuously evolved to better assist investors in their decision-making process. However, given the increasing importance of the service industry, the focus in evaluating business performance is also on employees’ performance and employee-centred organisational policies that would further stimulate the knowledge-production at the firms’ level. As many accounting professionals have already understood, accounting faces the challenge of a continuous adaption to the necessities of the business environment, thus admitting that it should provide the grounds for a sustainable and generalizable methodology for intellectual and, more particularly, human capital recognition. This paper offers a literature review on intellectual capital management and reporting, leaving room for the debate upon the choice of instruments that would ensure an accurate presentation employees’ added-value to organisational performance. It also presents a schematic approach to further develop the subject, describing the proposed methodology for further in-depth research.

  3. KNOWLEDGE, INTELECTUAL CAPITAL AND QUALITY MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Stevan Živojinović

    2009-12-01

    Full Text Available From the contemporary change management paradigm and new, knowledge-based economy, we emphasize the impact of advanced managerial tools. As evidenced in practice, simultaneous implementation of several management approaches, concepts and methods brings about more integral corporate success. We advocate integration of up-to-date approaches - knowledge management (KM and intellectual capital management (ICM as well as balanced scorecard (BSC under the "conceptional umbrella" of quality management, i.e. quality management system (QMS and total quality management (TQM. Interrelating elements of these management concepts through comparison of respective characteristics, differences and similarities, connections and complementary activities, we establish relations and interdependence which result in synergy when applied concurrently. QMS implementation (in accordance with ISO 9000 standard series, enroute to TQM, KM is improved, intellectual capital enlarged (via knowledge, skills, motivation, management systems, procedures, information and product flow, customer and other stakeholder relations and application of BSC facilitated. Conversely, KM and BSC improve opportunities for attaining organisational and business excellence. All mentioned concepts can be viewed as facets of modern integral management model, in continual dynamic interaction that brings about a potential for improved competitive advantage and business performance.

  4. The Social Capital of the Silver Ornaments in Northeastern, Thailand

    Directory of Open Access Journals (Sweden)

    Warit Witsrutwait

    2009-01-01

    Full Text Available Problem statement: The silver ornaments is the well known handicraft for Chum Chon Ban Choke, Tambon Khawao Sinrin, Amphoe Khawao Sinrin and Surin province. The study of social capital concerning silver ornaments at Ban Choke community, the Khmer ethnic focused on the low quality of the making the silver ornaments. The silver craftsmen earned less income because the capital productions were higher. Some craftsmen stopped making the silver ornaments to find new jobs for getting more income. That was the problem for the remaining of a silver ornaments handicraft. The purpose of the study was to study the management of social capital of silver ornament making at Chum Chon Ban Choke. Approach: It was qualitative and carried out using documentary studies, surveys, observations, and interviews and focused group discussions, 47 research informants were community and silver market leaders, silver craftsmen, shop owners, buyers, government and private personnel over looking promotion and development of silver ornaments in Surin Province. The analysis of data was done descriptively. Results: The social capital was divided into 2 categories internal and external. The internal social capital included the traditional skills of making silver ornaments and social and cultural coherence of the people. The second one came from capitalism and economic development, such as, roads, vehicles, electricity, mass media and markets. To some extent, Chum Chon Ban Choke changed. People picked up a new habit of buying goods from outside, Spending more with limited income made people go into debt. What made things even worse were low prices of their farm produce and severe droughts. The people who were in the business of silver ornaments came up with a plan bringing government and private entrepreneurs to revitalize social capital by running workshop trainings and using appropriate technology, such as, setting up a village fund, farm machinery and establish community

  5. 78 FR 62017 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-10-11

    ... 1 Capital a. Goodwill and Other Intangibles (Other Than Mortgage Servicing Assets) b. Gain-on-sale...(a) of the Final Rule 2. Deductions for Intangibles Other Than Goodwill and Mortgage Servicing Assets...-Weighted Assets--Modifications to the Advanced Approaches A. Counterparty Credit Risk 1. Recognition...

  6. A Two-Sector Growth Model with Endogenous Human Capital and Amenities

    Directory of Open Access Journals (Sweden)

    Wei-Bin Zhang

    2009-01-01

    Full Text Available This paper examines issues related to urbanization with labour migration. The main departures from the traditional approaches to dynamics of economic structures are that the paper uses an alternative approach to consumer behaviour and introduces human capital accumulation via learning by doing. The model describes dynamic interactions among agricultural and industrial production, rural and urban amenities, distribution of production factors and preferences with endogenous capital and human capital accumulation. We show that the dynamic system may have either a single or multiple equilibrium points, depending upon returns to scale in the two sectors. We also examined effects of changes in some parameters.

  7. The company's intellectual capital. Evolution and future development; El capital intelectual de la empresa, evolucion y desarrollo futuro

    Energy Technology Data Exchange (ETDEWEB)

    Martin de Castro, G.; Navas Lopez, J. E.; Lopez Saez, P.; Delgado Verde, M.

    2010-07-01

    During last decades, an important change in economic and social activities, models and relationships are emerging, which can be labelled as Post-industrial Society or Knowledge Economy and/or Society. In this new arena, intellectual capital, as the fourth factor of production, is replacing the other ones land, labour, and capital. In this sense, this paper tries to offer an integrative view of intellectual capital, showing its origins and evolution, both academic and practitioner ones, as well as its conceptual definition and some of the future research trends. (Author) 35 refs.

  8. A Model of Optimal Allocations of Physical Capital and Human Capital in Three Sectors

    Institute of Scientific and Technical Information of China (English)

    ZHOU Shaobo; XUE Minggao

    2007-01-01

    The paper develops an endogenous economic growth model about allcation of physical and human capital in three sectors. Optimal allocation of physical capital and human capital in three sectors is derived, the fraction of physical and human capital in each sector is positively related. The balanced values and the growth rates at steady state are given under certain conditions.Finally relations between the fractions of human capital and parameters are analyzed elaborately.

  9. MANAGEMENT OF THE WORKING CAPITAL AND FIRM PERFORMANCE IN THE ROMANIAN PHARMACEUTICAL SECTOR

    Directory of Open Access Journals (Sweden)

    LAURA RAISA MILOŞ

    2014-12-01

    Full Text Available The objective of the study is to reveal the connection between working capital and firm performance, in the case of some selected Romanian pharmaceutical companies, listed on Bucharest Stock Exchange. Regression analysis was performed in order to check our hypothesis. The main conclusion of our study is that there is a negative, but weak relationship between working capital and firm performance. In other words, the shorter the period between production and sale of products, the larger firm’s profitability.

  10. 13 CFR 108.230 - Private Capital for NMVC Companies.

    Science.gov (United States)

    2010-01-01

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

  11. International working capital practices of Ghanaian firms

    Directory of Open Access Journals (Sweden)

    J. Abor

    2005-12-01

    Full Text Available International working capital management is important to firms frequently operating in the international market. This article investigates the international working capital practices of top Ghanaian firms involved in international trade. The objective of the study is to ascertain the extent to which Ghanaian firms use international working capital management vehicles. The article focuses on two main areas of international working capital management; international cash management and international sales and accounts receivables management. The results of this study reveal low level of use of international working capital vehicles among Ghanaian firms. Recommendations are made in this regard.

  12. Social capital: its constructs and survey development.

    Science.gov (United States)

    Enfield, Richard P; Nathaniel, Keith C

    2013-06-01

    This article reports on experiences and methods of adapting a valid adult social capital assessment to youth audiences in order to measure social capital and sense of place. The authors outline the process of adapting, revising, prepiloting, piloting, and administering a youth survey exploring young people's sense of community, involvement in the community, and the development of social capital. They then discuss the trade-offs of defining the often amorphous concepts included in social capital as they select measurement scales. The constructs used in the survey are agency, belonging, engagement, and trust for bonding, bridging, and linking forms of social capital.

  13. A New Database on Physical Capital Stock: Sources, Methodology, and Results A New Database on Physical Capital Stock: Sources, Methodology, and Results

    Directory of Open Access Journals (Sweden)

    Ashok Dhareshwar

    1993-03-01

    Full Text Available A New Database on Physical Capital Stock: Sources, Methodology, and Results This paper describes the derivation of a new database of physical capital stock estimates for a selected group of 92 developing and industrial countries from 1960 to 1990 (of which 68 are from develouing countries. This work is part of a large research effort to analyze the sources of growth in developing countries and assess the effects of changes in the international economic environment on developing countries prospects. A special effort was made to compile investment series from 1950 onward for as many countries as possible and these were then aggregated according to a perpetual inventory method. In addition, various techniques were evaluated for the estimation of an initial capital stock and a modified Harberger approach was considered most suitable. The derived capital stock series prepared for this paper were compared to other capital stock series prepared by other researchers. The tests show the series correlated well with the results of most other similar exercises. The capital stock estimates were used to calculate median-capital output ratios and aggregate growth rates of the capital stock by country group; again, the results seem reasonable and consistent with our prior understanding of the relevant developing regions. Finally, the capital stock series were used to calculate total factor productivity growth rates using a constant returns to scale Cobb-Douglas production function with imposed factor shares. The results of this exercise were presented both on a regional basis as well as against per capita income in 1960 and were found to be consistent with the findings of other researchers.

  14. MAPPING EUROPEAN CAPITAL MARKETS TENDENCIES

    Directory of Open Access Journals (Sweden)

    Andreea Avadanei

    2011-01-01

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

  15. Academic Words and Academic Capitalism

    Directory of Open Access Journals (Sweden)

    Michael Billig

    2013-03-01

    Full Text Available This paper suggests that it is the best and worst of times for academic work. It is the best of times because there are more academics publishing than ever before. It is the worst of times because there is much unnecessary publication. Working in the competitive conditions of academic capitalism, academics feel impelled to keep publishing, whether or not they have anything to say. The pressures to publish continually and to promote one’s own approach are reflected in the way that social scientists are writing. Academics use a noun-based technical language, which is less precise than ordinary language. Postgraduates are taught this way of writing as a precondition for entering the social sciences. In this way, the nature of academic capitalism not only determines the conditions under which academics are working but it affects the way that they are writing.

  16. Capital Markets Union for Europe

    DEFF Research Database (Denmark)

    Ringe, Georg

    2015-01-01

    The merits of the “Capital Markets Union” project lie with its political importance, rather than its legal coherence or significance. Despite a number of substantial flaws, the initiation of this project comes at the right time. The Commission first and foremost sends a political message to the U...... and other non-Euro Member States, as well as a commitment to the Single Market.......The merits of the “Capital Markets Union” project lie with its political importance, rather than its legal coherence or significance. Despite a number of substantial flaws, the initiation of this project comes at the right time. The Commission first and foremost sends a political message to the UK...

  17. From Finance Capitalism to Financialization

    DEFF Research Database (Denmark)

    Hansen, Per H.

    2014-01-01

    In this article I interpret 150 years of financial history with a focus on shifts in the role of finance in society. I argue that over time the role of finance has shifted twice from that of servant to that of master of society, and that this process has been driven by sense making through narrat...... narratives that legitimized and shaped these changes. When finance became a master rent seeking, cultural capture and out-of control financial innovation resulted in financial and social instability. Finance as a master was the characteristic of finance capitalism from around 1900......–1931 and of financialization from around 1980 to today. Finance capitalism and financialization were enabled by a dominant narrative that legitimized the power of finance. The shifts in the role of finance happened when crises undermined the meaning of the existing narrative and created for a new narrative able to make sense...

  18. Analytic study of the capital restructuring processes in metallurgical enterprises around the world and in Poland

    Directory of Open Access Journals (Sweden)

    B. Gajdzik

    2012-04-01

    Full Text Available The article presents the most common directions of changes in capital groups in the sector of metallurgy around the world and in Poland. During the observation of the restructuring activities in metallurgy the attention was turned to the integration of the capital groups, capital outsourcing and contract outsourcing, creation and the takeover of the dependent companies. The meaning of the capital consolidation was underlined on the global metallurgy market in order to gain competitive advantage through the increase of manufacturing capacity. The overview of the rating of the global steel producers in years 1989-2009 was conducted with this article in mind and it has shown the changes in the participation of particular capital groups in the world production of steel.

  19. Human Capital, R&D and Productivity Growth Based on the Panel Data of Chinese Provinces%人力资本、R&D与生产率增长——基于中国省级数据的实证分析

    Institute of Scientific and Technical Information of China (English)

    白俊红

    2011-01-01

    Using the panel data of Chinese 30 regions during 1998-2007, this study firstly calculates the total factor productivity growth, technical progress and technical efficiency change of China, and then examinea the influences of human capital and R&D on productivity. The results show that the total factor productivity is improving during 1998-2007, and technology progress is the main cause of the growth of total factor productivity, and human capital and R&D have a positive impact on total factor productivity and technical progress, but negative on technical efficiency.%利用1998-2007年中国地区面板数据,在测算各地区全要素生产率增长、技术进步及技术效率变化的基础上,对人力资本、R&D与生产率增长之间的相关关系进行了实证考察。研究结果表明,在考察期内,中国全要素生产率有所提高,技术进步是其增长的动力来源;人力资本与R&D促进了中国全要素生产率的提升,这种提升主要是通过技术进步来实现的,对技术效率反而产生了显著的负面影响。

  20. Do Central Banks Need Capital?

    OpenAIRE

    Peter Stella

    1997-01-01

    Central banks may operate perfectly well without capital as conventionally defined. A large negative net worth, however, is likely to compromise central bank independence and interfere with its ability to attain policy objectives. If society values an independent central bank capable of effectively implementing monetary policy, recapitalization may become essential. Proper accounting practice in determining central bank profit or loss and rules governing the transfer of the central bank’s ope...

  1. Capitalizing R&D Expenditures

    OpenAIRE

    Diewert, Erwin; Huang, Ning

    2008-01-01

    The next international version of the System of National Accounts will recommend that R&D (Research and Development) expenditures be capitalized instead of being immediately expensed as in the present System of National Accounts 1993. An R&D project creates a new technology, which in principle does not depreciate like a reproducible asset. A new technology is however subject to obsolescence, which acts in a manner that is somewhat similar to depreciation. The paper looks at the net benefits o...

  2. Human Capital, Fertility and Growth

    OpenAIRE

    Galor, Oded

    2006-01-01

    The demographic transition that swept the world in the past 140 years has been identified as one of the prime forces in the transition from stagnation to growth. The unprecedented increase in population growth during the early stages of industrialization was ultimately reversed. The rise in the demand for human capital in the second phase of industrialization brought about a significant reduction in fertility rates and population growth in various regions of the world, enabling economies to c...

  3. Capital social en empresas familiares

    Directory of Open Access Journals (Sweden)

    Magda Jiménez

    2011-01-01

    Full Text Available Este artículo está dirigido a caracterizar la dinámica de la gestión del capital social en empresas familiares ubicadas en Santa Ana de Coro, municipio Miranda del estado Falcón. Para ello se llevó a cabo un estudio de campo de tipo descriptivo, mediante el uso de la técnica de la encuesta, siendo la modalidad utilizada el cuestionario, con el interés de obtener datos e información directamente de las 08 empresas familiares que funcionan en este municipio. De esta manera se conoció que en las empresas familiares del municipio Miranda, el capital social representa significativamente una de las características conducentes a la sociabilidad y confianza entre los miembros de las familias conductoras de las organizaciones y los empleados no miembros de familia; y es precisamente esta dinámica la razón por la cual el capital social se convierte en un trascendental recurso para las empresas, permitiendo el acceso a otros recursos e impulsando la participación de todos los que hacen vida en la organización, y por ende el crecimiento y desarrollo económico se hace evidente, estimulando en los empleados el sentido de pertenencia, confianza, compromiso y reciprocidad, generando beneficios para la red de demandantes y consumidores.

  4. The Opportunity Cost of Capital

    Directory of Open Access Journals (Sweden)

    Ayman Chit PhD

    2015-04-01

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

  5. Human Capital Investment and the Completion of Risky R&D Projects

    DEFF Research Database (Denmark)

    Siyahhan, Baran; Engelbert, Dockner

    2010-01-01

    but can be observed during the R&D phase of the project. The exogenous value of the patent determines the firm’s decisions to invest in human capital, to abandon the project if nec- essary, and to invest in marketing the new product. We study the corresponding optimal stopping times, determine their value...... of the firm is driven by fixed labor costs that occur until the breakthrough is made, the call option to invest in human capital and market the product, and the put option to abandon the project. These options together with labor costs’ based operating leverage determine the risk dynamics. Risk varies non...... and risk consequences, and derive optimal investment in the stock of human capital. While optimal investment in human capital is very sensitive to its productivity do increase the probability of a breakthrough it is insensitive to changes in the volatility of the present value of the patent. The value...

  6. Problems of Development of Human Capital in the Regions of North Caucasian Federal District

    Directory of Open Access Journals (Sweden)

    Aminat Ruslanovna Kappusheva

    2016-03-01

    Full Text Available The article specifies types of investments in human capital: spending on education, health and mobility. The author highlights the key actors invest in human capital development: the state, the corporate sector, households; emphasizes the low activity of the corporate sector and households in the process of investing in human capital. During the analysis of the problems of development of the human capital of the North Caucasian Federal District the author highlighted the interdependence of development of the productive sector of the economy and human capital: the low level of industrialization determines the gap in terms of gross regional product, high unemployment and low incomes, lack of investment in human capital of households. The article also deals with the problems of health and education in the North Caucasian Federal District: the shortage of qualified personnel, insufficient capacity of institutions. The analysis of the structure of regional budget expenditures on human capital development are pointed out. They include the spheres of health, education and culture. There is a direct and close relationship between the amount of budget spending on health, education, culture and the level of development of human capital in the country and the region. In the regions of the North Caucasian Federal District the lower level of educated population engaged in the sphere of economics was revealed. Particular attention is paid to analysis of the quality of human capital state and municipal employees of the North Caucasian Federal District, whose activities in the conditions of underdevelopment of large business, significantly affects the prospects for regional economic growth. The necessity of developing and implementing regional policies to promote health, education and culture, determines the quality of human capital in the economy.

  7. THEORETICAL AND METHODOLOGICAL PRINCIPLES OF THE STRATEGIC FINANCIAL ANALYSIS OF CAPITAL

    Directory of Open Access Journals (Sweden)

    Olha KHUDYK

    2016-07-01

    Full Text Available The article is devoted to the theoretical and methodological principles of strategic financial analysis of capital. The necessity of strategic financial analysis of capital as a methodological basis for study strategies is proved in modern conditions of a high level of dynamism, uncertainty and risk. The methodological elements of the strategic financial analysis of capital (the object of investigation, the indicators, the factors, the methods of study, the subjects of analysis, the sources of incoming and outgoing information are justified in the system of financial management, allowing to improve its theoretical foundations. It is proved that the strategic financial analysis of capital is a continuous process, carried out in an appropriate sequence at each stage of capital circulation. The system of indexes is substantiated, based on the needs of the strategic financial analysis. The classification of factors determining the size and structure of company’s capital is grounded. The economic nature of capital of the company is clarified. We consider that capital is a stock of economic resources in the form of cash, tangible and intangible assets accumulated by savings, which is used by its owner as a factor of production and investment resource in the economic process in order to obtain profit, to ensure the growth of owners’ prosperity and to achieve social effect.

  8. Measurement of ecological capital of Chinese terrestrial ecosystem based on remote sensing

    Institute of Scientific and Technical Information of China (English)

    PAN; Yaozhong; SHI; Peijun; ZHU; Wenquan; GU; Xiaohe; FAN

    2005-01-01

    The biosphere of the Earth is essential to human survival and development. The services of ecosystems are critical to the functioning of the Earth's life-support system. They contribute to human welfare both directly and indirectly. Ecological capital refers to the sum of the direct biological resources value and the indirect ecosystem services value. It is necessary to estimate the ecological capital in order to bring it to the society and market economic system, and draw the social attention to ecological environment constructions. An estimation model for ecological capital based on remote sensing is presented in this paper. The parameters in the model are quantitatively measured using NOAA/AVHRR and other ancillary data, including the land cover types, the vegetation coverage, and the vegetation net primary productivity (NPP) of terrestrial ecosystem. Based on the economic parameters in previously published studies and a few original calculations, the annual ecological capital of the entire terrestrial ecosystem of China is quantitatively estimated at 6.44 trillion (1012) yuan (RMB), and the spatial distribution of the ecological capital is also analyzed. Traditional ecological methods to ecological capital measurement are based on homogeneous plot scales, and the regional scaling is a key problem in their applications. As the proposed remote sensing approach, it provides a new method to ecological capital measurement completely based on observation data. It can not only overcome the regional scaling problem easily, but also allows the ecological capital to be estimated objectively and spatial-explicitly.

  9. EFFECTIVENESS OF CAPITAL MARKET DERIVATIVES IN HOUSING DELIVERY OF NIGERIA EMERGING MARKET

    Directory of Open Access Journals (Sweden)

    Bernard Adjekophori

    2016-07-01

    Full Text Available The capital market is unarguably the most robust institution in any economy notable for mobilizing the necessary fund for financing long-term productive project. It controls relatively large amounts of capital and represent the largest institutional providing long-term credits for capital project like real estate that requires huge capital outlay. This study therefore, attempts an investigation into the effectiveness of capital market derivatives in housing delivery in Lagos. An empirical survey research was conducted in Lagos, using a random sampling technique with a structured questionnaire to collect data from 147 respondents comprising 89 stockbrokers and 58 real estate developers in Lagos mega-city. Data collected were analyzed with SPSS using descriptive and inferential statistics. The result revealed that 56.7% of the observed variations in housing delivery (R2= 0.567; p< 0.05 is explained by capital market derivatives, which suggests that, proper utilization of capital market derivatives will enhance and improve housing delivery in Nigeria. However, this is not been adequately used by developers of real estate projects in the study. Thus, the study recommends amongst other remedial steps that a synergetic effort should be created between the capital market and real estate developers which will enhance effective housing delivery, the development of people and the Nation.

  10. Social capital, economics, and health: new evidence.

    Science.gov (United States)

    Scheffler, Richard M; Brown, Timothy T

    2008-10-01

    In introducing this Special Issue on Social Capital and Health, this article tracks the popularization of the term and sheds light on the controversy surrounding the term and its definitions. It sets out four mechanisms that link social capital with health: making information available to community members, impacting social norms, enhancing the health care services and their accessibility in a community, and offering psychosocial support networks. Approaches to the measurement of social capital include the Social Capital Community Benchmark Survey (SCCBS) developed by Robert Putnam, and the Petris Social Capital Index (PSCI), which looks at community voluntary organizations using public data available for the entire United States. The article defines community social capital (CSC) as the extent and density of trust, cooperation, and associational links and activity within a given population. Four articles on CSC are introduced in two categories: those that address behaviors -- particularly utilization of health services and use of tobacco, alcohol, and drugs; and those that look at links between social capital and physical or mental health. Policy implications include: funding and/or tax subsidies that would support the creation of social capital; laws and regulations; and generation of enthusiasm among communities and leaders to develop social capital. The next steps in the research programme are to continue testing the mechanisms; to look for natural experiments; and to find better public policies to foster social capital.

  11. Social Capital Impact On Service Supply Chains

    Directory of Open Access Journals (Sweden)

    Sherry L. Avery

    2011-05-01

    Full Text Available Purpose – This study explores the impact of social capital on service firm supply chains.Design/methodology/approach – The theoretical underpinnings of social capital is reviewed from various disciplines, including sociology, management, and operations management.  This is used to develop a conceptual model of the use of social capital in a service supply chain setting.Findings - Social capital is proposed to improve the operational performance of service firms as a source of both physical and information resources.    The impact of social capital is projected to vary by firm size and service type.  Small firms have limited resources and thus a need for resources obtained through social capital.  Service firms that have high customization and customer contact are subject to process variations which can be mitigated by social capital.  A conceptual model is presented to test several propositions related to social capital.Originality/value – The impact of social capital has not been widely studied in an operational setting.  This is the first known study to specifically analyze the impact of social capital in service supply chains.

  12. Where's the capital? A geographical essay.

    Science.gov (United States)

    Jones, Gareth A

    2014-12-01

    This paper is inspired by Thomas Piketty's book Capital in the Twenty-First Century. Piketty does a wonderful job of tracing income and wealth over time, and relating changes to trends of economic and population growth, and drawing out the implications for inequality, inheritance and even democracy. But, he says relatively little about where capital is located, how capital accumulation in one place relies on activities elsewhere, how capital is urbanized with advanced capitalism and what life is like in spaces without capital. This paper asks 'where is the geography in Capital' or 'where is the geography of capital in Capital'? Following Piketty's lead, the paper develops its analysis through a number of important novels. It examines, first, the debate that Jane Austen ignored colonialism and slavery in her treatment of nineteenth century Britain, second, how Balzac and then Zola provide insight to the urban political economy of capital later in the century, and third, how Katherine Boo attends to inequality as the everyday suffering of the poor.

  13. THE IMPORTANCE OF HUMAN CAPITAL IN THE STRATEGIC DEVELOPMENT OF AN ORGANIZATION

    Directory of Open Access Journals (Sweden)

    Adriana Grigorescu

    2016-07-01

    Full Text Available In this new world where the level of information has reached overwhelming thanks to new technologies , the human capital embodied in a stock value, skill and knowledge, becomes the main factor of production in the new economy. In this paper I have tried to emphasize that, this relatively new concept such as human capital has become the main motor of organizational development, representing one of the most important advantages of firms to work properly in their environments. The economic growth is conditioned by human capital development; current trends are changing and organizations change their outward form of thought and action and they enhance their human capital (this intangible asset too little highlighted and measured from the desire of being more flexible and easily assimilated by the market in the future. For modern companies, human capital has become a “golden coin” with 2 sides called: 1 capability (the ability to provide solutions to customers through knowledge, skills, know-how, and talent; 2 attitude (the ability to profitably use these values of the organization. In conclusion, human capital is measured using IQ and the productivity of modern economies depend largely on investment in knowledge and skills, although statistics in Romania do not include costs and expenses of human capital.

  14. Foreign Capital, GDP and Effects Affairs of Macedonia

    Directory of Open Access Journals (Sweden)

    Mico Apostolov

    2015-09-01

    Full Text Available This paper focuses on Southeast Europe and analyzes foreign capital movements, gross domestic product and possible effects, through a case study of Macedonia. There are many respectable sources of data, especially macro data and firm-level data that are used in this research. What we are interested in are the movements of foreign direct investment i.e. foreign capital, gross domestic product and effects of such changes, and possible contributions to the development of domestic firms and the overall economy. Foreign direct investment is usually defined as dominant or controlling ownership of a company in one country, by an entity based in another country. As of the beginning of the transition process, foreign direct investments remain priority, as essential pillar, that moves forward the society towards developed market economy. Further, we are interested in the possibility that these two indicators have positive and upward climb to facilitate this developing economy.

  15. Heterogeneity of Capital Stocks in Japan: Classification by Factor Analysis

    Directory of Open Access Journals (Sweden)

    Konomi Tonogi

    2014-04-01

    Full Text Available This paper examines the heterogeneity of capital stocks using financial statement data of publicly listed Japanese firms. We conduct factor analysis on investment rates among various capital goods and estimate factor loadings of each as its reactions to common factors like total factor productivity (TFP shocks. Then we estimate the uniqueness for each investment rate, which is the percentage of its variance that is not explained by the common factors. If the estimated factor loadings are similar between some of the heterogeneous capital goods, it may well imply that the adjustment cost structure of these investments is also similar. Further, if some of the estimated values of uniqueness are small, it suggests that certain theoretical models may track the dynamics of the investment rates well. Our estimation results show that Building and Structure have similar factor loadings as do Machinery & Equipment, Vehicles & Delivery Equipment, and Tools, Furniture, & Fixture. This suggests that we could remedy the Curse of Dimensionality by bundling the investments that have similar factor loadings together and that identifying the functional structures of each group of capital goods can greatly improve the performance of empirical investment equations.

  16. THE ISSUE OF ASYMMETRIC INFORMATION UPON THE CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    Olga Pleşco

    2013-07-01

    Full Text Available The capital market has an important role at the micro and macro economical level, having the capacity to mobilize resources and to place them in a productive manner. The relation between accounting and capital market started to be analyzed from the middle of XXth century, when the investors started to ask more details about the companies’ activity and not just general accounting values. The certainty is nowadays a part of the cost of information which is consciously assumed by the users differently in pre-crisis and crisis time. Informational asymmetry plays a double role through the participants on the capital market: positive one for those who use the lack of information of others with economic responsibility and negative when information holders use them to affect the other participants or users. This paper seeks to examine the impact of financial information on the level of the capital value of the companies in order to evaluate the influence and to establish the measures that must be applied to reduce the asymmetries between different users of that information.

  17. Mengukur Kontribusi Human Capital terhadap Tujuan Perusahaan

    Directory of Open Access Journals (Sweden)

    Brata Wibawa Djojo

    2010-11-01

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

  18. Cultural Capital and Teaching Ability Rating

    DEFF Research Database (Denmark)

    Jæger, Mads Meier

    , health impairments, social behaviour, antenatal influences, and many family background characteristics. My analysis shows, first, that both children and parents’ cultural capital have independent effects on teacher ability ratings. Second, for oral ability I find that parents’ cultural capital ‘protects......This paper studies the effect of cultural capital on teachers’ ratings of children’s oral and math ability. Cultural reproduction theory hypothesises that, holding everything else constant, children who possess cultural capital are more likely to be perceived by teachers as gifted than children who...... do not possess cultural capital. This paper uses extremely rich longitudinal data that provides a better basis than previous studies for holding ‘everything else’ constant. In addition to children and parents’ cultural capital, I control for children’s actual academic ability, physical appearance...

  19. Changing Endogenous Development: the Territorial Capital

    Directory of Open Access Journals (Sweden)

    Balázs István Tóth

    2011-12-01

    Full Text Available The aim of this research is to analyze territorial capital as a new paradigm to make best use of endogenous assets. The study is dealing with the preconditions, meaning and possible theoretical taxonomies of territorial capital. In this study I emphasize that the cumulative effects of regional potentials are more important than economies of scale and location factors. I present different approaches and interpretations of territorial capital, then make an attempt to create an own model. I try to find answers for questions, such as why territorial capital shows a new perspective of urban and regional development; how cognitive elements of territorial capital provide increasing return; how territorial capital influences competitiveness and what kind of relation it has with cohesion.

  20. An Economic Viewpoint on Capitalism Bashing

    Directory of Open Access Journals (Sweden)

    Burnete Sorin

    2016-12-01

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

  1. Measuring Social Capital Accumulation in Rural Development

    DEFF Research Database (Denmark)

    Teilmann, Kasper

    2012-01-01

    for pursuing development projects similar to those implemented previously and the degree of social capital. The paper concludes that there are indications that projects hosted by municipalities tend to show the most social capital, there is no connection between the amount of project financing and social......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, and the study further investigates whether the organisational affiliation, project financing, and LAG co-financing can explain the degree of social capital accumulation. Furthermore, the author has tested if there are connections between motivation...

  2. ANALYSIS OF THE CAPITAL MARKET IN CROATIA

    Directory of Open Access Journals (Sweden)

    Maja Buljat

    2015-12-01

    Full Text Available The financial crisis that began in 2008 in the USA turned into a global economic crisis in a short time. As such, it had a big impact on the financial stability of Croatia, primarily on capital market. Capital market includes securities trading, primarily stocks and bonds, whose market value is influenced by the market capitalization of capital market and vice versa. Macro economically, market capitalization had an influence on the fall in the value of the entire capital market, and micro economically, it had an influence on the fall of the prices of stocks, bonds and other financial instruments of companies. The volume of trade decreased, but there was an increase in the number of transactions. In other words, people traded more and in smaller quantities. Therefore, the risk increased, and investors became more cautious.

  3. Capital intelectual: verdades e mitos

    Directory of Open Access Journals (Sweden)

    Maria Thereza Pompa Antunes

    2002-08-01

    Full Text Available Muito se tem comentado que os relatórios fornecidos pela Contabilidade Financeira não retratam certas realidades das empresas atualmente, tendo em vista o fato de o valor contábil das ações estar muitas vezes abaixo do seu valor de mercado. Esse contraste entre os dois valores vem sendo identificado como Capital Intelectual e apresentado como um novo conceito de administração de empresas que conduz à necessidade de aplicação de novas estratégias, de nova filosofia de gestão e novas formas de avaliação do valor da empresa. Este trabalho evidencia a verdadeira relação existente entre a Contabilidade e o Capital Intelectual. Desmistifica-se a novidade do conceito, pois comprova-se que o capital Intelectual é parte integrante do Goodwill, conceito secularmente conhecido e estudado pela Contabilidade. Os elementos intangíveis sempre foram abordados pela Contabilidade e, da mesma forma, como nunca se desprezou a sua importância, nunca se subestimou a sua complexidade. Portanto, a Contabilidade não é falha na divulgação das informações por ela registradas. Deve-se entender a finalidade de cada uma das Demonstrações Contábeis, bem como os Princípios subjacentes a elas. A falta de conhecimento, por vezes, conduz a conclusões precipitadas e errôneas. Por outro lado, qualquer que seja o rótulo atribuído aos elementos intangíveis, que sempre fizeram parte das organizações, entende-se e aceita-se que hoje, cada vez mais, o conhecimento e o gerenciamento desses elementos são relevantes para a gestão das empresas, pois o momento atual é caracterizado pela ampla aplicação do recurso do conhecimento pelo homem, que se materializa em novas tecnologias, sistemas e serviços (entendidos como ativos intangíveis que agregam valor às organizações.It has been said many times that the statements provided by Financial Accounting do not give a picture of certain realities of companies nowadays, considering the fact that, often

  4. Piketty's capital and social policy.

    Science.gov (United States)

    Piachaud, David

    2014-12-01

    Piketty's Capital (2014) primarily describes and analyses changes in the distribution of wealth and annual incomes. This paper focuses on his policy proposals that make up Part Four of the book. Piketty defends the 'social state' but he discusses it largely in terms of distribution and redistribution between tax units. This neglects the important role of social policy in promoting recognition and redistribution of income and opportunities that is related to gender, race, disability and sexual orientation. Nor does Piketty consider inequalities in health which effect life-time incomes, nor the impact of housing policies on house prices and the distribution of wealth. It is argued that Piketty's approach to social security is simplistic and plays down the complexity of competing policy goals. On taxation, Piketty defends progressive taxation and proposes a global capital levy. The latter proposal runs into formidable problems in seeking global taxation in a world of nation states. Rather than seeking a policy that is, for the foreseeable future, wholly politically impractical, a case is made for less idealistic but more practical and urgent tax coordination between nations to address the widespread avoidance of taxation that large corporations and the very wealthy are now permitted - taxation on which the future of the social state depends. The importance of human and social capital, which are largely set aside by Piketty, are discussed. Finally,it is argued that his approach to policy is to describe trends and propose amelioration of growing inequality rather than to identify causes of the trends and propose policies that might address the causes. Nevertheless, the importance of his work in bringing issues of inequality to the fore, especially among economists, is recognized and applauded.

  5. The effect of bank ownership concentration on capital adequacy and liquidity

    Directory of Open Access Journals (Sweden)

    Masoumeh Delbariragheb

    2015-08-01

    Full Text Available This paper presents an empirical investigation to study the effect of bank ownership concentration on capital adequacy and liquidity on 14 selected private Iranian banks located in city of Tehran, Iran. The study uses a linear regression model where ownership concentration is independent variable, size, leverage, growth domestic product and revenue growth are control variables and liquidity and capital adequacy are dependent variables. Using historical information over the period 2010-2013, the study has determined a negative and meaningful relationship between liquidity and ownership concentration. However, the study has determined a positive and meaningful relationship between capital adequacy and ownership concentration.

  6. Returns to Tenure, Firm-Specific Human Capital and Worker Heterogeneity

    DEFF Research Database (Denmark)

    Bingley, Paul; Westergård-Nielsen, Niels Chr.

    2003-01-01

    Workers with longer job tenure are paid more, on average, than those with shorter tenure. This paper re-opens the debate about whether individual financial returns to tenure are due to firm-specific human capital accumulation or sorting according to unobserved individual productivity heterogeneity...... firms to distinguish between firm-specific human capital and worker heterogeneity. Although the proportion of tenure returns due to firm-specific human capital is smaller than that found in the US, it has increased from 10% in 1980 to 30% in 1998 in Denmark. This change coincides with decentralisation...

  7. Knowledge Management, Innovation and Intellectual Capital for Corporate Value in the United States

    DEFF Research Database (Denmark)

    Bleoca, Lavinia

    2014-01-01

    The dynamic capabilities of 74 publicly listed U.S. companies are examined to determine their knowledge management’s effects on shareholder value. R&D practices, patenting and intellectual capital are examined in a cross-sectional and longitudinal analysis to offer insights into the temporal...... dynamics of managerial decision-making and create new knowledge about time lags in returns on innovation and intellectual capital management. From the accounting perspective, the findings are highly relevant for knowledge productivity. The results indicate that innovation and intellectual capital...

  8. Human Capital Spillovers in Families: Do Parents Learn from or Lean on Their Children? NBER Working Paper No. 17235

    Science.gov (United States)

    Kuziemko, Ilyana

    2011-01-01

    I develop a model in which a child's acquisition of a given form of human capital incentivizes adults in his household to either learn from him (if children act as teachers then adults' cost of learning the skill falls) or lean on him (if children's human capital substitutes for that of adults in household production then adults' benefit of…

  9. Employers' Perspectives on the Roles of Human Capital Development and Management in Creating Value. OECD Education Working Papers, No. 18

    Science.gov (United States)

    Bassi, Laurie J.; McMurrer, Daniel P.

    2006-01-01

    Human capital--the productive capacity that is embedded in people--is one of the most important contributors to the growth in nations' output and standard of living. Globalisation and technological change have increased the importance of human capital in recent years, to the point that there are now only two options to sustain high profits and…

  10. Managing design variety, process variety and engineering change: a case study of two capital good firms

    NARCIS (Netherlands)

    Veldman, J.; Alblas, A.

    2012-01-01

    Many capital good firms deliver products that are not strictly one-off, but instead share a certain degree of similarity with other deliveries. In the delivery of the product, they aim to balance stability and variety in their product design and processes. The issue of engineering change plays an im

  11. Managing design variety, process variety and engineering change : a case study of two capital good firms

    NARCIS (Netherlands)

    Veldman, Jasper; Alblas, Alex

    2012-01-01

    Many capital good firms deliver products that are not strictly one-off, but instead share a certain degree of similarity with other deliveries. In the delivery of the product, they aim to balance stability and variety in their product design and processes. The issue of engineering change plays an im

  12. Venture Capital Contracting Under Asymmetric Information

    OpenAIRE

    Jeffrey Trester

    1993-01-01

    The author develops a model of venture capital contracting in which the entrepreneur and venture capitalist contract under symmetric information. A condition of asymmetric information may arise subsequent to the first contract. The author shows that this condition makes debt contracts infeasible and leads to the use of preferred equity contracts. The author notes that discussions of the relation between venture capital and capital structure are rare. This paper expands the literature by addre...

  13. Rawlsian justice and welfare-state capitalism

    OpenAIRE

    Yuen, Ho-yin; 袁浩然

    2014-01-01

    Rawls emphasizes in his later writings that his theory of justice as fairness is not a defense of welfare-state capitalism. He argues that welfare-state capitalism cannot be an acceptable regime for justice as fairness because its ideal institutional description fails to satisfy the two principles of justice in various ways. Against Rawls, I argue in this thesis that his rejection of welfare-state capitalism is not justified. I begin by clarifying an ambiguity regarding what arrangements...

  14. Capitalizing Central Banks: A Net Worth Approach

    OpenAIRE

    Alain Ize

    2005-01-01

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

  15. EMERGING CAPITAL MARKETS: OPPORTUNITIES AND LIMITS

    Directory of Open Access Journals (Sweden)

    FELICIA RAMONA BIRAU

    2012-05-01

    Full Text Available This theoretical study examines the concept of emerging capital markets in Europe from the border between certain opportunities and limits. The financial architecture of emerging capital markets has certain characteristics such as a high degree of instability and a sharp level of illiquidity which exposed the vulnerability of this particular type of market. Emerging capital market represents a main characteristic of developing countries and they are less efficient than the developed market given their deep functional, structural and institutional dysfunctions.

  16. Simulated annealing algorithm for optimal capital growth

    Science.gov (United States)

    Luo, Yong; Zhu, Bo; Tang, Yong

    2014-08-01

    We investigate the problem of dynamic optimal capital growth of a portfolio. A general framework that one strives to maximize the expected logarithm utility of long term growth rate was developed. Exact optimization algorithms run into difficulties in this framework and this motivates the investigation of applying simulated annealing optimized algorithm to optimize the capital growth of a given portfolio. Empirical results with real financial data indicate that the approach is inspiring for capital growth portfolio.

  17. Social capital formation : a poverty reducing strategy?

    OpenAIRE

    Øyen, Else

    2002-01-01

    From the symposium: Social Capital Formation in Poverty Reduction: Which role for the Civil Society Organizations and the State? - on 28 June 2000 in Geneva The title of the symposium is "Social Capital Formation in Poverty Reduction: Which Role for Civil Society Organizations and the State?". The emphasis here is on poverty and whether poverty reduction can be obtained through a strategy of increased social capital. The emphasis is not on social development in general or the b...

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

    Directory of Open Access Journals (Sweden)

    Silvije Orsag

    2014-12-01

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

  19. Legal-Ease:Total Investment Capital & Registered Capital Allocations in China

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    With the Chinese Government, on a regional basis, specifying “minimum amounts” for registered capital contributions in order to establish foreign-invested enterprises in China, and with a similar occurrence concerning total invested capital requirements,

  20. The multitudinous creativity of the contemporary capitalisms

    Directory of Open Access Journals (Sweden)

    Ionuț Bârliba

    2015-12-01

    Full Text Available Creative Capitalism, Multitudinous Creativity, Radicalities and Alterities, Edited by Giuseppe Cocco and Barbara Szaniecki, Lexington Books, Lanham. Boulder. New York. London, 2015, 269p.

  1. Taxation and venture capital-backed entrepreneurship

    DEFF Research Database (Denmark)

    Keuschnigg, Christian; Nielsen, Søren Bo

    2003-01-01

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

  2. Venture capitalism at the Veterans Administration.

    Science.gov (United States)

    Andries, G H

    1986-01-01

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

  3. Education - an investment in human capital

    Directory of Open Access Journals (Sweden)

    Daniela Neamţu

    2012-12-01

    Full Text Available Formal education, personal abilities and the health state play an important role in this paper. Those are all essential constituent elements of the human capital. In the present paper we intend to present briefly the fundamental concepts of the human capital, with an emphasis on education and abilities. We also mark out the importance of the human capital development in the purpose of maintaining the development and the motivation of the human resources, which are the main premises organizations need to capitalize. The higher education has a determinant role in the attainment of this desideratum.

  4. Social and Symbolic Capital in Firm Clusters

    DEFF Research Database (Denmark)

    Gretzinger, Susanne; Royer, Susanne

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

  5. Intellectual Capital Statements -When Rhetoric meets Logic

    DEFF Research Database (Denmark)

    Krag, Lotte

    of representation is calculus and mathematical rules. To illustrate the importance of describing a firm by not only using numbers the article illustrates the differences between intellectual capital statements and traditional balance sheets. The intellectual capital statement is often accused of not being a valid...... document to assess a company's value by, but this article argues that although intellectual capital statements make use of another way of presenting arguments than traditional balance sheets do they are still valid for describing a firm. The article argues that the intellectual capital statement uses...

  6. Relationship between Social Capital and Livelihood Enhancing Capitals among Smallholder Farmers in Uganda

    OpenAIRE

    Abenakyo, Annet; Sanginga, Pascal; Njuki, Jemimah M.; Kaaria, Susan; Delve, Robert J.

    2008-01-01

    Social capital is an important characteristic of a community and is one of the components of the asset pentagon of the sustainable livelihood framework. The study aimed at assessing the levels and dimensions of social capital and how social capital influences other livelihood capitals. A Cross-sectional survey of a random sample of 208 households was conducted in Masindi and Hoima Districts in Uganda to assess the current livelihood conditions and strategies for improving rural livelihoods. A...

  7. A venture capital view of challenges, opportunities, and innovation in biomedical research.

    Science.gov (United States)

    Ratcliffe, L T

    2011-02-01

    Small biotech companies have been an important source of innovation, pipelines, and new products for the pharmaceutical industry, and are primarily financed by venture capital (VC). The significant changes happening within the VC industry have broad implications for these small companies. This includes a shift to financing later-stage programs with increasing interest in orphan or specialty indications. Nontraditional sources of capital and innovative risk-sharing structures can enable early-stage companies.

  8. The Impact of Human Capital on Economic Growth: Empirical Evidence from Sudan

    OpenAIRE

    Khalafalla Ahmed Mohamed Arabi; Suliman Zakaria Suliman Abdalla

    2013-01-01

    This paper empirically investigates the impact of human capital on economic growth in Sudan for the period 1982-2009 by using a simultaneous equation model that links human capital i.e. school attainment; and investment in education and health to economic growth, total productivity, foreign direct investment, and human development index. Based on three-stage least squares technique, the empirical results of the paper show that quality of the education has a determinant role in the economic gr...

  9. 12 CFR 263.82 - Establishment of minimum capital levels.

    Science.gov (United States)

    2010-01-01

    ... Maintain Adequate Capital § 263.82 Establishment of minimum capital levels. The Board has established minimum capital levels for state member banks and bank holding companies in its Capital Adequacy... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Establishment of minimum capital levels....

  10. 12 CFR 615.5240 - Permanent capital requirements.

    Science.gov (United States)

    2010-01-01

    ... capital requirements. (a) The capitalization bylaws shall enable the institution to meet the capital adequacy standards established under subparts H and K of this part and the total capital requirements... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Permanent capital requirements....

  11. 12 CFR 931.6 - Transfer of capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Transfer of capital stock. 931.6 Section 931.6 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.6 Transfer of capital stock. A Bank in its capital...

  12. 12 CFR 3.6 - Minimum capital ratios.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Minimum capital ratios. 3.6 Section 3.6 Banks and Banking COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY MINIMUM CAPITAL RATIOS; ISSUANCE OF DIRECTIVES Minimum Capital Ratios § 3.6 Minimum capital ratios. (a) Risk-based capital ratio....

  13. Social Capital Theory: Implications for Women's Networking and Learning

    Science.gov (United States)

    Alfred, Mary V.

    2009-01-01

    This chapter describes social capital theory as a framework for exploring women's networking and social capital resources. It presents the foundational assumptions of the theory, the benefits and risks of social capital engagement, a feminist critique of social capital, and the role of social capital in adult learning.

  14. 12 CFR 931.3 - Minimum investment in capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Minimum investment in capital stock. 931.3... CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.3 Minimum investment in capital stock. (a) A Bank shall require each member to maintain a minimum investment in the capital stock of the Bank,...

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

    NARCIS (Netherlands)

    Inklaar, R.

    2010-01-01

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

  16. Should We Use a Capital Framework to Understand Culture? Applying Cultural Capital to Communities of Color

    Science.gov (United States)

    Hinton, Kip Austin

    2015-01-01

    Social science research on communities of color has long been shaped by theories of social and cultural capital. This article is a hermeneutic reading of metaphorical capital frameworks, including community cultural wealth and funds of knowledge. Financial capital, the basis of these frameworks, is premised on unequal exchange. Money only becomes…

  17. 12 CFR 933.5 - Disclosure to members concerning capital plan and capital stock conversion.

    Science.gov (United States)

    2010-01-01

    ... the liquidity, capital, earnings or continuing operations of the Bank, including those affecting... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Disclosure to members concerning capital plan and capital stock conversion. 933.5 Section 933.5 Banks and Banking FEDERAL HOUSING FINANCE...

  18. Social Capital and Educational Aspiration of Students: Does Family Social Capital Affect More Compared to School Social Capital?

    Science.gov (United States)

    Shahidul, S. M.; Karim, A. H. M. Zehadul; Mustari, S.

    2015-01-01

    Resources from multiple social contexts influence students' educational aspiration. In the field of social capital a neglected issue is how students obtain social capital from varying contexts and which contexts benefit them more to shape their future educational plan which consequently affects their level of aspiration. In this study, we aim to…

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

    Energy Technology Data Exchange (ETDEWEB)

    None

    1982-01-01

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

  20. Substance use in rural adolescents: The impact of social capital, anti-social capital, and social capital deprivation.

    Science.gov (United States)

    Evans, Caroline B R; Cotter, Katie L; Rose, Roderick A; Smokowski, Paul R

    2016-01-01

    Middle- and high-school substance use is a pressing public health problem in the United States. Despite similar or, in some cases, elevated rates of substance use among rural youth, much of the extant research on adolescent substance use has focused on urban areas. The current study aims to uncover forms of social capital (e.g., ethnic identity), social capital deprivation (e.g., parent-child conflict), and anti-social capital (e.g., delinquent friends) that impact the use of alcohol, cigarettes, and marijuana in a sample of middle- and high-school students from the rural south. It was hypothesized that social capital factors would be associated with decreased substance use while social capital deprivation and anti-social capital factors would be associated with increased substance use. The hypotheses were tested using logistic regression models with generalized estimating equations. The findings indicated that for middle school youth, anti-social capital in the form of aggression and delinquent friends was significantly associated with an increased likelihood of using alcohol, cigarettes, and marijuana. For high school students, anti-social capital in the form of aggression and delinquent friends and social capital deprivation in the form of neighborhood crime were significantly associated with an increased likelihood of using alcohol, cigarettes, and marijuana. Violent behavior was also significantly associated with an increased likelihood of using marijuana. Females reported less substance use in both middle and high school; reports of use increased with age. Implications are discussed. Given the salience of social capital deprivation, substance use programs should emphasize the skills necessary to avoid or disengage from antisocial relationships.

  1. The Wine Growing in San Juan: The case of the lower middle class producers, the subsumption and the reproduction of the capital

    Directory of Open Access Journals (Sweden)

    Margarita Del Carmen Moscheni

    2015-04-01

    Full Text Available The cardinal point of this article is examine the subsumption relationship where we find the wine- growing productive circle partners analyzing the relationship capital- capital in the wine- growing productive circle and the territorial approach.We describe and analyze these economical and social partners taking as the focal point the accumulation process in the productive circle in San Juan and the economical partners which are subsumed to it, the lower middle class traditional producers. In this context this presentation aspires to give a new point of view of the subsumption in the relation capital- capital.In this context, this paper aims to provide a new perspective of subsumption, in the capital-to-capital relation, and conclude that the small non-integrated producers are not only dispossessed, but also exploited.

  2. THEORETICAL AND METHODOLOGICAL PRINCIPLES OF THE STRATEGIC FINANCIAL ANALYSIS OF CAPITAL

    Directory of Open Access Journals (Sweden)

    Olha KHUDYK

    2016-07-01

    Full Text Available The article is devoted to the theoretical and methodological principles of strategic financial analysis of capital. The necessity of strategic financial analysis of capital as a methodological basis for study strategies is proved in modern conditions of a high level of dynamism, uncertainty and risk. The methodological elements of the strategic indicators, the factors, the methods of study, the subjects of analysis, the sources of incoming and outgoing information are justified in the system of financial management, allowing to improve its theoretical foundations. It is proved that the strategic financial analysis of capital is a continuous process, carried out in an appropriate sequence at each stage of capital circulation. The system of indexes is substantiated, based on the needs of the strategic financial analysis. The classification of factors determining the size and structure of company’s capital is grounded. The economic nature of capital of the company is clarified. We consider that capital is a stock of economic resources in the form of cash, tangible and intangible assets accumulated by savings, which is used by its owner as a factor of production and investment resource in the economic process in order to obtain profit, to ensure the growth of owners’ prosperity and to achieve social effect.

  3. The Relationship between Intellectual Capital and Income Smoothing and Stock Returns (Case in Medical Companies

    Directory of Open Access Journals (Sweden)

    Dr. H. Vakilifard

    2013-05-01

    Full Text Available This article examines the relationship between intellectual capital, income smoothing and stock returns. We are capturing income smoothing through total accruals. Income smoothing firms have significantly higher abnormal returns around earnings announcement. In the knowledge economy, intellectual capital has become one of the primary sources of competitive advantage for a firm. Given the remarkable shift in the underlying production factors of a business within the new knowledge economy, it is important for firms to be aware of the elements of intellectual capital that would lead to value creation. So we associated relationship between intellectual capital and income smoothing and stock returns. The sample includes 108 firm-year observations from 2006 to 2011.We have used five variables: three variables to measure IC, and two variables to measure stock returns and income smoothing. Initial data analyses were conducted through SPSS. The results of our study showed that there was relationship between physical capital and stock returns but they did not provide support for the positive relationship between structural capital, human capital and firm’s financial performance.

  4. Racial disparity in capital punishment and its impact on family members of capital defendants.

    Science.gov (United States)

    Schweizer, Jennifer

    2013-01-01

    A review of the literature was conducted to explore the continuing racial disparity in capital punishment and its effects on family members of African American capital defendants. Statistical studies conducted on both the state and national level conclude that racial bias influences all stages of the death penalty process, with race of the victim being one of the most significant factors. This racial bias places an added burden on family members of African American capital defendants. While research has explored the impact of capital punishment on family members of capital defendants, the unique experiences of family members of African American defendants has not been addressed in the research literature.

  5. Social Capital: Its Constructs and Survey Development

    Science.gov (United States)

    Enfield, Richard P.; Nathaniel, Keith C.

    2013-01-01

    This article reports on experiences and methods of adapting a valid adult social capital assessment to youth audiences in order to measure social capital and sense of place. The authors outline the process of adapting, revising, prepiloting, piloting, and administering a youth survey exploring young people's sense of community, involvement in…

  6. 47 CFR 32.2681 - Capital leases.

    Science.gov (United States)

    2010-10-01

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

  7. Optimal income taxation with endogenous human capital

    NARCIS (Netherlands)

    B. Jacobs

    2005-01-01

    This paper augments the theory of optimal linear income taxation by taking into account human capital accumulation as a dimension of labor supply. The distribution of earning potentials is endogenous because agents differ in the ability to learn. Taxation affects utilization rates of human capital t

  8. Skills and Regional Entrepreneurship Capital Formation

    DEFF Research Database (Denmark)

    Grimpe, Christoph; Mendonça, Joana

    2015-01-01

    - and knowledge-intensive sectors. In this paper, we shed light on the skill base of a region in terms of its endowment with human capital and the composition, i.e. specialization or diversity, of skills. Moreover, we look at the context in which entrepreneurship capital formation takes place by focusing...

  9. Social Cohesion, Social Capital and the Neighbourhood.

    Science.gov (United States)

    Forrest, Ray; Kearns, Ade

    2001-01-01

    Outlines key dimensions of social cohesion, exploring whether societies are facing a new crisis in this area. Examines where contemporary residential neighborhoods fit into social cohesion debates, particularly regarding the interaction between social cohesion and social capital. Outlines key debates over social capital, showing how it can be…

  10. A Survey of Venture Capital Research

    NARCIS (Netherlands)

    Da Rin, M.; Hellmann, T.; Puri, M.L.

    2011-01-01

    This survey reviews the growing body of academic work on venture capital. It lays out the major data sources used. It examines the work on venture capital investments in companies, looking at issues of selection, contracting, post-investment services and exits. The survey considers recent work on or

  11. provider venture capital funds: investing in innovation.

    Science.gov (United States)

    Potter, Mary Jo; Wesslund, Rick

    2016-05-01

    As health systems continue to embrace disruptive innovation, they are increasingly likely to consider making a move into venture capital. Working in venture capital can benefit a health system in several ways, including: Allowing it to operate outside of bureaucracy and align projects with its core values. Encouraging innovation within the organization. Enabling it to respond quickly to changes in the market.

  12. 77 FR 3847 - Major Capital Investment Projects

    Science.gov (United States)

    2012-01-25

    ... Capital Investment Projects; Proposed Rule #0;#0;Federal Register / Vol. 77 , No. 16 / Wednesday, January... Part 611 RIN 2132-AB02 Major Capital Investment Projects AGENCY: Federal Transit Administration (FTA... investments, such as improved water quality or reduced runoff, even though some of these project...

  13. 75 FR 31383 - Major Capital Investment Projects

    Science.gov (United States)

    2010-06-03

    ... Federal Transit Administration 49 CFR Part 611 RIN 2132-AB02 Major Capital Investment Projects AGENCIES... capital investment projects (``New Starts'' and ``Small Starts'') in support of its funding decisions, and... Federal Transit Administration's (FTA) New Starts and Small Starts project justification criteria....

  14. The determinants of Dutch capital structure choice

    NARCIS (Netherlands)

    Chen, Linda H.; Jiang, George J.

    2001-01-01

    This paper uses the structural equation modeling (SEM) technique to empirically test the determinants of capital structure choice for Dutch firms. We include major factors identified by capital structure theories and construct proxies for these factors with consideration of specific institutional se

  15. A Shift towards Academic Capitalism in Finland

    Science.gov (United States)

    Kauppinen, Ilkka; Kaidesoja, Tuukka

    2014-01-01

    Academic capitalism is currently a widely studied topic amongst higher education scholars, especially in the United States. This paper demonstrates that the theory of academic capitalism also provides a fruitful perspective for analysing the restructuring of Finnish higher education since the 1990s, although with reservations. It will be argued…

  16. Academic Capitalism in the Pasteur's Quadrant

    Science.gov (United States)

    Mendoza, Pilar

    2009-01-01

    Based on previous empirical studies, in this work the author presents an analysis of the role of context in academic capitalism. In particular, she argues that the literature on academic capitalism fails to properly acknowledge disciplinary and institutional differences, which results in an oversimplification of the effects of industry-academia…

  17. Human Capital Composition and Economic Growth

    Science.gov (United States)

    Tsai, Chun-Li; Hung, Ming-Cheng; Harriott, Kevin

    2010-01-01

    The objective of this paper is to analyze the effect of various compositions of human capital on economic growth. We construct alternative measures of human capital composition using five fields of study. In each instance, the measure represents the number of graduates in the respective field as a percentage of all graduates. The measures are as…

  18. Capital in the Twenty-First Century

    DEFF Research Database (Denmark)

    Hansen, Per H.

    2014-01-01

    Review essay on: Capital in the Twenty-First Century. By Thomas Piketty . Translated by Arthur Goldhammer . Cambridge, Mass.: The Belknap Press of Harvard University Press, 2014. viii + 685 pp......Review essay on: Capital in the Twenty-First Century. By Thomas Piketty . Translated by Arthur Goldhammer . Cambridge, Mass.: The Belknap Press of Harvard University Press, 2014. viii + 685 pp...

  19. SUMMARY OF THEORIES IN CAPITAL STRUCTURE DECISIONS

    Directory of Open Access Journals (Sweden)

    Herczeg Adrienn

    2014-07-01

    In Hungary the capital structure of enterprises changed significantly since 1990, but it is true, that their decisions about the capital can not fit with neither theoretical appeal totally. There is no universal theory of the debt-equity choice, and no reason to expect one.

  20. A Human Capital Approach to Career Advising

    Science.gov (United States)

    Shaffer, Leigh S.; Zalewski, Jacqueline M.

    2011-01-01

    We began this series by addressing the challenges of career advising in a volatile, uncertain, complex, and ambiguous environment. In this article, we define human capital and suggest that advisors encourage students to utilize the principle of maximizing human capital when making decisions. We describe the personal traits and attitudes needed to…

  1. A REVIEW OF THE CAPITAL STRUCTURE THEORIES

    Directory of Open Access Journals (Sweden)

    Visinescu Sorin

    2009-05-01

    Full Text Available In this paper the authors survey capital structure theories, from the start-up point, which is considered Modigliani and Miller’s capital structure irrelevance theorem, to recent theories, such as the pecking order and the market timing theory. For each t

  2. 76 FR 67400 - Capital Project Management

    Science.gov (United States)

    2011-11-01

    ... TRANSPORTATION Federal Transit Administration 49 CFR Part 633 RIN 2132-AA92 Capital Project Management AGENCY... Capital Project Management to December 2, 2011, to allow interested parties time to carefully review the...) proposing to transform the current FTA rule for project management oversight into a discrete set...

  3. Capital Punishment for Juveniles: Albert French's "Billy."

    Science.gov (United States)

    Darlington, Sonja

    1998-01-01

    Analyzes Albert French's novel "Billy" and its exploration of the United States' use of capital punishment for young criminals. Addresses the underlying causes of Billy's execution. Discusses specific themes and issues that teachers can use for classroom discussions of capital punishment. (RS)

  4. New Superintendents: Trust, Networking, and Social Capital

    Science.gov (United States)

    Ripley, Joan; Mitchell, Roxanne M.; Richman, John A.

    2013-01-01

    This instrumental case study explored how five newly appointed superintendents identified key stakeholders and built trust and social capital with stakeholders in their districts. Stakeholder, trust, and social capital theory were the lenses that guided this study. We utilized a pragmatic research design and thematic data analysis to interpret our…

  5. Social Capital: Its Constructs and Survey Development

    Science.gov (United States)

    Enfield, Richard P.; Nathaniel, Keith C.

    2013-01-01

    This article reports on experiences and methods of adapting a valid adult social capital assessment to youth audiences in order to measure social capital and sense of place. The authors outline the process of adapting, revising, prepiloting, piloting, and administering a youth survey exploring young people's sense of community, involvement in the…

  6. Capital Power:From Input to Output

    Institute of Scientific and Technical Information of China (English)

    You Wanlong; Alice

    2009-01-01

    @@ After thirty yeas "going out" of China overseas investment,we learn from our failed lessons and also successful experience.Chinese enterprises are now standing at a new starting point of "going out".China is transforming from "capital input power" to "capital output power".

  7. State Spending on Higher Education Capital Outlays

    Science.gov (United States)

    Delaney, Jennifer A.; Doyle, William R.

    2014-01-01

    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…

  8. Social Capital and Stratification of Young People

    Directory of Open Access Journals (Sweden)

    Alireza Behtoui

    2013-08-01

    Full Text Available This paper addresses the impact of social capital on the status attainment process of young people at the start of their careers and examines how social class, gender and ethnicity affect the accumulation of social capital and thereby labour market stratification of young people. A sample of young Swedes graduating from vocational schools and universities between 2005 and 2006, was surveyed via the telephone about their experiences acquiring jobs. Two research questions are posed: (i Which characteristics (class, gender and ethnicity affect young people's access to more social capital? (ii How is social capital rewarded in the labour market? The results show that being female, coming from the lower social classes and being a member of a stigmatized immigrant groupare associated with a substantial social capital deficit. When socioeconomic and demographic backgrounds as well as the human capital of respondents are controlled, social capital is positively associated with salary level. The results indicate that social capital is a significant factor in the stratification process of young people.

  9. Treatment of capital in Brasilian cooperative societies

    Directory of Open Access Journals (Sweden)

    Vergílio Frederico Perius

    2005-12-01

    Full Text Available The early history of the cooperative system never taxed much importance to capital formation in cooperatives. The first German consumer cooperative had no equity in their accounting records. We want to analyze, even though the capital was not essential, what is its function actually.

  10. Political Capital in a Market Economy

    Science.gov (United States)

    Nee, Victor; Opper, Sonja

    2010-01-01

    This research applies a transaction-focused institutional analysis to compare the value of political capital in different institutional domains of China's market economy. Our results show that the value of political capital is associated with institutional domains of the economy in which agents can use political connections to secure advantages.…

  11. Human Capital, (Human) Capabilities and Higher Education

    Science.gov (United States)

    Le Grange, L.

    2011-01-01

    In this article I initiate a debate into the (de)merits of human capital theory and human capability theory and discuss implications of the debate for higher education. Human capital theory holds that economic growth depends on investment in education and that economic growth is the basis for improving the quality of human life. Human capable…

  12. Corporate Social Responsibility Under Authoritarian Capitalism

    DEFF Research Database (Denmark)

    Hofman, Peter S.; Moon, Jeremy; Wu, Bin

    2015-01-01

    This article introduces the concept of corporate social responsibility (CSR) in the seemingly oxymoronic context of Chinese “authoritarian capitalism.” Following an introduction to the emergence of authoritarian capitalism, the article considers the emergence of CSR in China using Matten and Moon...

  13. Star Trek, Global Capitalism, and Immaterial Labor

    NARCIS (Netherlands)

    Hassler-Forest, Dan

    2016-01-01

    As one of the most expansive storyworlds in sf, Star Trek appears to offer an imaginary representation of a post-capitalist utopia. But in the context of global capitalism the franchise’s superficial post-capitalism translates all too easily into a neoliberal fantasy of post-industrial labour and hi

  14. Human Capital Development: Comparative Analysis of BRICs

    Science.gov (United States)

    Ardichvili, Alexandre; Zavyalova, Elena; Minina, Vera

    2012-01-01

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

  15. Getting Connected: Can Social Capital be Virtual?

    Directory of Open Access Journals (Sweden)

    Megan Alessandrini

    2006-12-01

    Full Text Available This article reports on an analysis of data from a study conducted in Australia on the impact of Internet access on social capital. The debate regarding the definition of social capital is explored, and basic indicators of social capital resolved. The apparent emergence of the phenomenon of virtual social capital is also discussed. Australians overall have widely adopted the Internet as a source of information and communication. Data collected in a mass survey conducted in 2004 is analysed and considered. Factors associated with Internet access are: access to the Internet in the home and employment status. There are also strong links between the levels of education completed and use of the Internet. On the basis of the evidence, Australians with Internet access are more likely to engage in activities generally regarded as indicators of individual expressions of social capital.

  16. Human capital in low-tech manufacturing

    DEFF Research Database (Denmark)

    Hansen, Teis; Winther, Lars; Hansen, Ronnie Fibæk

    2014-01-01

    capital appears to be equally important for economic development in low-tech industries and, second, that the divide between the large urban regions, especially Copenhagen, and the rest of the country plays the primary role in explaining the geography of human capital. These findings stress the relevance......An essential feature associated with the rise of the knowledge economy has been the increasing focus on the importance of human capital as a precondition for economic growth. Human capital has been found to have a positive impact on the economic growth of high-tech industries, however......, the influence of human capital on the development of low-tech industries is yet to be analysed. This paper provides such an examination of low-tech industries based on an analysis of employment data within manufacturing industries in Denmark in the period 1993–2006. The findings highlight, first, that human...

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

    Directory of Open Access Journals (Sweden)

    Mohamed Ali Boujelbene

    2013-06-01

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

  18. Electricity Consumption and Economic Growth: Trivariate investigation in Botswana with Capital Formation

    Directory of Open Access Journals (Sweden)

    Sakiru Adebola Solarin

    2011-01-01

    Full Text Available This study investigates the relationship between electricity consumption and real gross domestic product in Botswana (the world’s largest producer of diamonds. The study includes capital formation in a trivariate system for the period covering 1980-2008. Zivot and Andrews (1992 unit roots test; bound test for cointegration, and Granger causality test are employed. Unidirectional causality is found from electricity consumption to real gross domestic product is in line with study of Altinay and Karagol (2005 among others. The long run estimate reinforce the Granger causality tests by indicating that electricity consumption is positively associated with real gross domestic product in the long run. Further findings suggest unidirectional causality from capital formation to real gross domestic product. The implication is that Botswana- being a highly energy dependent country- will have the performance of its capital formation on the economy partly determined by adequate electricity.

  19. Organizational-economic mechanism of enterprise’s customer capital management

    Directory of Open Access Journals (Sweden)

    Ie.O. Golysheva

    2015-12-01

    Full Text Available The aim of the article. The aim of the article is to analyze the conditions and development bases of organizational and economic mechanism of the enterprise’s customer capital. The results of the analysis. A generalization of the existing developments on formation of organizational and economic mechanism of market-oriented enterprises economic activities has allowed to develop a structural scheme of the organizational and economic mechanism of customer capital management in an industrial enterprise. It should consist of the following subsystems: target, managing, driven, diagnosis, information, motivation, planning and forecasting, controlling. Formation of the organizational-economic mechanism starts with management principles defining. The management principles are the main form of unequivocal use of objective laws in management process. Based on the results of critical analysis and synthesis of scientific sources authors proposed to form the organizational and economic mechanism of customer capital management in line with the following principles (considering the level of their influence: the principle of innovativeness of development system; the principle of systematicity; the principle of taking into account the interests of all participants of business process (supply, production, promotion and consumption of products etc., i.e. all economic counterparties; the principle of legal security of management decisions; the principle of effective and equitable management of the personnel; principle of the business ethics commitment; the principle of continuity and reliability; the principle of managerial processes formalization; the principle of adaptability; the principle of economic efficiency and effectiveness. The main purposes of industrial enterprises (which are forming or improving customer capital management system can be described as follows: to satisfy customers’ needs better than competitors, to retain loyal customers, to increase

  20. Human Capital and Romania’s Perspective in the EU

    Directory of Open Access Journals (Sweden)

    Mihai CHIRILĂ

    2009-01-01

    Full Text Available The source of improving people life standard depends, alongsideother factors, on efforts oriented towards education, research, andknowledge enrichment. It is also related to development and disseminationof high performance technology, with knowledge development, skills andabilities, professional training able to realize, disseminate, and useinnovation. However, these investments in human capital will lead to goodresults by extending the active life of skilled workers, by improving thegeneral health status of the population, by preserving the environment, byimproving food products quality. All these are the more valid for Romania’seconomy, the more it needs to be integrated in the Western European area,which is a highly competitive area. Or, relative sub-investment inautochthonous human capital might force our country to developcomparative advantages in border fields from the point of view ofproductivity, to specialize in fields that intensively use raw materials, to turninto a low paid labour market.

  1. Missing social capital and the transition in Eastern Europe

    DEFF Research Database (Denmark)

    Paldam, M.; Svendsen, Gert Tinggaard

    2000-01-01

    The transition of the »Old Communist« countries of East and Central Europe has been disappointingly slow given the amount of physical and human capital available at the start of the transition. We argue that this slowness is caused by the lack of social capital, which is an important factor of pr...... collapsed and so did most of the control systems. This allowed a flourishing of the grey/black networks, which can be harmful to the operations of a market economy. The available data are still scanty, but they confirm the argument....... of production. The Communist system replaced it with an official organization of society. Further, the communist system needed a set of grey/black networks of »fixers« to give it the necessary flexibility. These networks were tolerated, but controlled. When the Communist regime ceased the official organizations...

  2. Challenges faced by Pakistani pharmaceutical industry: An intellectual capital perspective

    Directory of Open Access Journals (Sweden)

    Khalique, Muhammad

    2012-04-01

    Full Text Available Intellectual capital is recognized as one of the most critical factors for the success of organizations in a knowledge-based economy. In a knowledge-based economy high tech organizations are facing tremendous challenges to gain competitive advantage. The main objective of this study is to introduce the concept and applications of intellectual capital in Pakistani pharmaceutical industry. Pakistani pharmaceutical industry is one of the major industries and it has 70% of share to fulfill the demand of finished pharmaceutical products. This industry also contributes in economic growth and development. This study is a preliminary in nature and it will also be a milestone for future research on this topic.

  3. Missing social capital and the transition in Eastern Europe

    DEFF Research Database (Denmark)

    Paldam, Martin; Svendsen, Gert Tinggaard

    2001-01-01

    The transition of the "Old Communist" countries of East and Central Europe has been disappointingly slow given the amount of physical and human capital available at the start of the transition. We argue that this slowness is caused by the lack of social capital, which is an important factor of pr...... organizations collapsed and so did most of the control systems. This allowed a flourishing of the grey/black networks, which can be harmful to the operations of a market economy. The available data are still scanty, but they confirm the argument....... of production. The Communist system replaced it with an official organization of society. Further, the communist system needed a set of grey/black networks of "fixers" to give it the necessary flexibility. These networks were tolerated but nevertheless controlled. When the Communist regime ceased, the official...

  4. Paradoxical empowerment of produsers in the context of informational capitalism

    Science.gov (United States)

    Proulx, Serge; Heaton, Lorna; Kwok Choon, Mary Jane; Millette, Mélanie

    2011-04-01

    This article develops a critical perspective on how online contribution practices participate in the creation of economic value under informational capitalism. It discusses the theoretical relevance of the concept of empowerment for exploring online contribution practices. We argue that produsage practices are paradoxical insofar as they can be simultaneously alienating and emancipatory. This theoretical lens allows us to take a fresh look at the collective intelligence of produsers and the role of communities in the collective production of content. We illustrate the fruitfulness of this conceptual approach with two case studies: Facebook and TelaBotanica, a platform for the collaborative production of scientific knowledge.

  5. Academic Words and Academic Capitalism Academic Words and Academic Capitalism

    Directory of Open Access Journals (Sweden)

    Michael Billig

    2013-03-01

    Full Text Available

    Este artículo sugiere que esta época es la mejor y peor para la labor académica. La mejor en cuanto hay más publicaciones académicas que nunca. Y la peor porque sobra mucho de estas publicaciones. Trabajando en las condiciones competitivas del capitalismo académico, los académicos se sienten en la necesidad de continuar publicando, independientemente de que tengan algo que decir. Las presiones de publicar continuamente y promover la propia perspectiva se reflejan en la manera en la que los científicos sociales están escribiendo. Y es que los académicos utilizan un lenguaje técnico basado en sustantivos, con una precisión menor a la del lenguaje ordinario. Los estudiantes de postgrado han sido educados en esta manera de escribir como una condición previa a iniciarse en las ciencias sociales. Así, la naturaleza misma del capitalismo académico no sólo determina las condiciones en las que los académicos trabajan, sino que también afecta su manera de escribir.


    This paper suggests that it is the best and worst of times for academic work. It is the best of times because there are more academics publishing than ever before. It is the worst of times because there is much unnecessary publication. Working in the competitive conditions of academic capitalism, academics feel impelled to keep publishing, whether or not they have anything to say. The pressures to publish continually and to promote one’s own approach are reflected in the way that social scientists are writing. Academics use a noun-based technical language, which is less precise than ordinary language. Postgraduates are taught this way of writing as a precondition for entering the social sciences. In this way, the nature of academic capitalism not only determines the conditions under which academics are working but it affects the way that they are writing.

  6. Validation study of the Questionnaire of Educational and Learning Capital (QELC in Israel

    Directory of Open Access Journals (Sweden)

    Nurit Paz-Baruch

    2015-06-01

    Full Text Available The Actiotope Model of Giftedness regards giftedness as a product of the interaction between the individual and the environment. The aim of this study is to evaluate the validity of the Question-naire of Educational and Learning Capital (QELC on 187 primary school students from Israel and to examine whether the educational and learning capitals of the students are associated with general intelligence and academic achievement. In the study correlations were found between social, infrastructural, didactic, organismic, actional, episodic and attentional capitals. No correlations were found, however, between general intelligence and other subscales of the QELC. The results of reliabilities and the two-factor CFA model affirmed the validity of the educational and learning capital using the Hebrew version of QELC.

  7. The Significant Contribution of Indonesian Human Capital to the Economic Growth

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    C. Ruth Elisabeth Tobing

    2011-04-01

    Full Text Available This study examines the contribution of human capital to Indonesia’s productivity. The result of this study reveals a significant contribution of human capital as shown in the model which is using highest weighted of primary and secondary level of education. The most significant result found in the model using secondary level as the highest weighted of human capital. In contrast, there is no significant contribution of human capital using proportional weighted between education levels. This suggests that improvement in knowledge, adoption of technology and skill in the primary and secondary education meet the demand of industries in Indonesia. This study uses a time series regression to analyze data 1985-2010.

  8. An empirical study to measure the impact of financial and macro economical figures on capital adequacy

    Directory of Open Access Journals (Sweden)

    Mohsen Babaei dazghei

    2012-09-01

    Full Text Available Capital adequacy plays an important role for reducing different risk components in banking industry. In this paper, we present an empirical study to measure the impact of financial and macro economical factors on capital adequacy. We gather the necessary information from financial statements and balance sheets of nine Iranian private banks over the period of 2005-2011. The results of analyzing the data based on the implementation of linear regression technique reveal that there are some meaningful relationship between financial figures, including bank size and profitability, and capital adequacy. However, the survey does not show any relationship between macro economical factors, including growth domestic product and inflations, and capital adequacy.

  9. Capital, Gender, and Politics: Towards a Marxist Feminist Theory of Bioconvergence

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    Kelly E Happe

    2015-05-01

    Full Text Available This essay theorizes bioconvergent political subjectivity as that which is made possible by the production and circulation of new forms of “bio” capital. Turning to the Marxist concept of variable capital, the essay describes subjectivity as that which is inextricably bound with one’s position relative to the circulation of labor power, capital, and commodities, a positionality residing at the interstices of race, gender, and class. Turning to biomedical labor as an exemplary case, the essay considers how the refusal to either fully accept or reject new systems of value made possible by late capitalism and a logic of speculation demonstrates how and where resistance and critique are possible.​

  10. Estimation of intellectual capital in the European Union using a knowledge model

    Directory of Open Access Journals (Sweden)

    Domingo Nevado Peña

    2011-06-01

    Full Text Available This paper presents a model aimed at measuring intellectual capital as the potential knowledge of a country and apply it to the European Union. The method consists of activating accountable expenses, assumed to generate knowledge. In order to do so, efficiency indicators are used, derived from a summary of variables of structural, human and technological capitals by means of factor analysis. The results of this study for the EU25 in 2006 explain why Northern Europe has greater intellectual capital potential. They are more productive, as they manage and apply new technologies better. In human capital, Eastern countries have strong potential. The paper concludes that, at the conceptual level, this information should be used to design convergence policies and balanced development strategies to ensure economic growth.

  11. Human and Inhuman Capital, and Schooling

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    Primož Krašovec

    2014-06-01

    Full Text Available Theories of human capital are becoming an increasingly common reference in both newer pedagogical theories as well as political documents, outlining the plans for reforms of science and education. As a part of broader ideology of knowledge society, human capital theories represent ideological legitimation of neoliberal trends in science and education policies. Increased investment in human capital on both social and individual level is supposed to increase the competitiveness of the economy as a whole as well as employability and welfare of individuals. In the first part of the article, we sketch the intellectual history and the socio-political context of the development of theories of human capital. Second part is dedicated to a critique of characteristically neoliberal equalization of labor with capital and of a theory, according to which investment in human capital brings profits to individual workers. In the third part, we outline a general socio-historical dynamics of the development of high-tech capitalism and show that “investments in human capital” and economic innovations do not bring about increased social welfare. In the fourth, final part, we analyze in detail how current educational reforms impact the learning process and working conditions at public universities.

  12. Economic Growth, Capitalism and Unknown Economic Paradoxes

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    Andzela Mialik

    2012-10-01

    Full Text Available The paper deals with failures of capitalism or free market and presents the results of economic analysis by applying a logistic capital growth model. The application of a logistic growth model for analysis of economic bubbles reveals the fundamental causes of bubble formation—economic paradoxes related with phenomena of saturated markets: the paradox of growing returnability and the paradoxes of debt and leverage trap. These paradoxes occur exclusively in the saturated markets and cause the majority of economic problems of recent days including overproduction, economic bubbles and cyclic economic development. Unfortunately, these paradoxes have not been taken into account when dealing with the current failures of capitalism. The aim of the paper is to apply logistic capital growth models for the analysis of economic paradoxes having direct impact on the capitalism failures such as economic bubbles, economic crisis and unstable economic growth. The analysis of economic paradoxes and their implication son failures of capitalism provided in the paper presents the new approach in developing policies aimed at increasing economic growth stability and overcoming failures of capitalism.

  13. Manufacturing Capital Lingers in the Stock Market

    Institute of Scientific and Technical Information of China (English)

    吴程涛; 段铸; 张景宇; 张曙光

    2008-01-01

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

  14. CAPITAL FLOWS AND THEIR SECTORAL DESTINATIONS

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    Petris Sorina

    2012-07-01

    Full Text Available Since 2003, New European Union Member States have made large capital inflows, which led to a credit crunch and recession. Whether they are foreign direct investment, or banking flows, capital inflows ultimately affect GDP, depending on how they are invested. In the specialty literature, analysis of capital flows was done especially in terms of their structure, with a lack of analysis in terms of final destination of capital inflows. Therefore, we analyzed the effect of capital inflows on GDP in the New Member States of the European Union (Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia over the last economic cycle. Based on experiences of the new Member States during the recent boom and crisis, the paper studies the impact of capital inflows on GDP growth, inflows channeled to economic sectors, such as real estate and corporate investment sector. The results of this research tries to highlight the extent to which the final destination of capital flows is important for the evolution of GDP.

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

    Science.gov (United States)

    Schuweiler, R C

    1996-05-01

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

  16. Estimates of Capital Flight and Its Behaviour Estimates of Capital Flight and Its Behaviour

    Directory of Open Access Journals (Sweden)

    Stijn Claessens

    1997-03-01

    Full Text Available This paper presents estimates of capital flight using eight alternative methodologies, with a focus on Latinoamerica. While these methodologies differ in approach, I show that the identities used in balance-of-payments data make most close in their final measurement. I document that capital flight is not an exclusively Latin America phenomenon, but is much wider spread than commonly thought. Compared to countries' exports, capital flight is evenly distributed, and the capital flights-exports Lorenz-curve is close to the 45-degree line. There also appear to be important common factors driving capital flight as there is considerable comovement across countries in certain years. This paper presents estimates of capital flight using eight alternative methodologies, with a focus on Latinoamerica. While these methodologies differ in approach, I show that the identities used in balance-of-payments data make most close in their final measurement. I document that capital flight is not an exclusively Latin America phenomenon, but is much wider spread than commonly thought. Compared to countries' exports, capital flight is evenly distributed, and the capital flights-exports Lorenz-curve is close to the 45-degree line. There also appear to be important common factors driving capital flight as there is considerable comovement across countries in certain years.

  17. Analysis of capital spending and capital financing among large US nonprofit health systems.

    Science.gov (United States)

    Stewart, Louis J

    2012-01-01

    This article examines the recent trends (2006 to 2009) in capital spending among 25 of the largest nonprofit health systems in the United States and analyzes the financing sources that these large nonprofit health care systems used to fund their capital spending. Total capital spending for these 25 nonprofit health entities exceeded $41 billion for the four-year period of this study. Less than 3 percent of total capital spending resulted in mergers and acquisition activities. Total annual capital spending grew at an average annual rate of 17.6 percent during the first three year of this study's period of analysis. Annual capital spending for 2009 fell by more than 22 percent over prior year's level due to the impact of widespread disruption in US tax-exempt variable rate debt markets. While cash inflow from long-term debt issues was a significant source of capital financing, this study's primary finding was that operating cash flow was the predominant source of capital spending funding. Key words: nonprofit, mergers and acquisitions (M&A), capital spending, capital financing.

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

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    Fazekas Balazs

    2014-07-01

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

  19. [Poverty, social exclusion, social capital and health].

    Science.gov (United States)

    Del Rey Calero, Juan

    2004-01-01

    Social capital is the social structure which facilitates the actions of individuals, stimulates production and allows for success. Poverty maintains basic needs unmet (food, health, autonomy) over time and unvoluntarily. Social exclusion does not allow individuals to participate in society. The following dimensions are assessed: financial poverty, social inclusion, employment, health and education. Social participation, work integration, empowerment, self-esteem, and personal achievement should be promoted. In Europe 15% of people is exposed to poverty; in Spain corresponding figures are 13.4%, while for the elderly reached 21%. Extreme poverty affects 6.2% population and severe poverty 14.2%. Women and those living in Andalusia, Canary Islands and Extremadura are particularly affected, health inequality are for elderly, immigration, gender, social class, and should be reduced 10% for 2010. The Gini indez measures the income distribution; in the European Union (EU) it is 0.29 while in Spain is 0.33. Poverty and health are inversely correlated, health care expenditure in Spain is 7.5% og GDP. Life expectancy in U.E. is 75.5 years for men and 81.6 years for women, while in Spain it is 78 and 83.1 respectively. Infant mortality in EU is 4.5/1000, 4.1 per thousand in Spain. Lastly, the number of children per women in EU is 1.47 and in Spain 1.3.

  20. ACCOUNTING INFORMATION RELEVANCE ON CAPITAL MARKETS

    Directory of Open Access Journals (Sweden)

    Ciprian-Dan COSTEA

    2015-06-01

    Full Text Available The research in accounting with specific application on capital markets represents a special resort of accounting research. The development of such studies was favored by the evolution and strong growth of capital markets in our daily contemporary life and by the extention of base accounting concepts to international level. In such circumstances, studies regarding the evolution of concepts like value relevance, efficient markets, accounting information and its dissemination, fair value, are welcomed on the field of accounting research with applicability to the capital markets. This study comes to outline some positions regarding this topic of accounting research.

  1. Employment growth, human capital and educational levels

    DEFF Research Database (Denmark)

    Hansen, Høgni Kalsø; Winther, Lars

    2015-01-01

    human capital in understanding regional growth. We examine to what extent different labour competences and capabilities relate to municipal employment growth using nine stratified, educational categories as proxies for different levels of human capital. Dividing municipalities into four spatial...... categories ranging from the urban to the peripheral, we conclude that there is a strong spatial distinction of educational structures with an urban bias, and that educational categories other than academic human capital can make an important contribution to our understanding of what drives employment growth...

  2. The political dimension of "linking social capital"

    DEFF Research Database (Denmark)

    Rubin, Olivier

    2016-01-01

    . Through an analysis of existing analytical practices, the article concludes that linking social capital is often subordinated to the two related social capital concepts of bonding and bridging, and that linking social capital is often exclusively defined and operationalized based on expressions...... of organizational trust and participation. The article proposes a recalibration to encompass the political dynamics, and political survival theory is recommended as a way to address the hitherto underexplored governance dimension. Rather than using trust as the analytical pivot, this analytical entry point may...

  3. On Aggregating Human Capital Across Heterogeneous Cohorts

    DEFF Research Database (Denmark)

    Growiec, Jakub; Groth, Christian

    Based on a general framework for computing the aggregate human capital stock under heterogeneity across population cohorts, the paper derives aggregate human capital stocks in the whole population and in the labor force, and relates these variables to average years of schooling and average work...... experience. Under the scenarios considered here, the "macro-Mincer" (log-linear) relationship between aggregate human capital and average years of schooling is obtained only in cases which are inconsistent with heterogeneity in years of schooling and based on empirically implausible demographic survival laws...

  4. FINANCIAL INTERMEDIARIES’ ACTIVITY ON ROMANIAN CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    Dumitru-Cristian OANEA

    2014-11-01

    Full Text Available The financial shifts encountered in the last decade, increase the importance of capital markets in emerging countries, which is also Romania’s case. The banking system was for a long period of time the main source of liquidity for the economy. Meanwhile, the situation is changing due to the importance that capital market has in financing the economy. Through this paper we analyze the transactions’ evolution made by financial intermediaries on Romanian capital market, by highlighting the Societies for Financial Services and Investments (SSIF. Based on this evolution, we identified the main significant differences and similarities between the SSIFs existing on the market.

  5. 资本流动、投资效率与福建省资本市场一体化%Capital Flow, Investment Efficiency and Integration of Capital Market in Fujian Province

    Institute of Scientific and Technical Information of China (English)

    陈燕赟

    2014-01-01

    Based on the provincial panel data in China during 1978-2012 and the productivity of capital and the marginal product of capital, this paper tries to, with Feldstein-Horioka test, measure the degree of capital market integration in Fujian province and its changing trend. The results show that the productivity of capital and the marginal product of capital among various regions of the province and industry are gradually converging, the degree of capital market integration is increasing while the private capital is the most important factor of capital mobility and economic development and the capital in the three industries are unreasonably allocated. So, we should optimize the capital structure by further opening, speed up the financial reform to release further capital activity, increase the allocation of agricultural investment, adjust the allocation of the three industries to optimize the industrial capital so at to improve the capital output efficiency.%利用FH模型,运用我国各省(市、自治区)1978-2012年间的面板数据,结合资本生产率、资本边际产出等指标计算,对福建省资本市场一体化程度及其变化趋势进行测度。福建省内各地区和产业之间的资本生产率和边际产出逐渐趋同,资本市场一体化程度日益提高,民间资本是影响福建省资本流动性和经济增长的最重要因素,资本在三次产业之间的配置不尽合理。福建省要加大内联外放力度,优化资本来源结构;加快金融改革,进一步释放资本活力;通过增加农业投资、调整三产内部结构等途径优化资本配置,提高产出效益。

  6. The Ways of Advanced Human Capital: Discussions from Experiences

    Directory of Open Access Journals (Sweden)

    Rayén Amanda Rovira Rubio

    2015-11-01

    Full Text Available The present research aimed to know the significance of academic training experienced by postgraduate students who are pursuing their studies abroad under the context of a Training Program for Advanced Human Capital promoted by the Government of Chile. A feminist epistemology of situated knowledge was used as methodological framework, and narrative productions were used as technique of data collection. With this approach, the experiences of seven graduate students in Spanish universities, mostly of them beneficiaries of scholarships from Chile, were analyzed. The main findings were: the positive assessment of the experience of studying abroad, the divergent testimonies about these experiences, which based on previous educational trajectories and the socioeconomic level of the professional. These aspects influenced the identifications with the concept of Advanced Human Capital for Chile. Also, for some participants, the Advanced Human Capital is seen as an imposed concept which does not coincide with the real opportunities for the professional practice in the country. Therefore, the participants are sceptical about the possibilities of adequate job insertion in the return to Chile.

  7. A Critique of Grossman's Canonical Model of Health Capital.

    Science.gov (United States)

    Sepehri, Ardeshir

    2015-01-01

    In the health economics literature, the demand for health and market health inputs is dominated by adaptations of Grossman's health capital model. The model has been widely used to explore a wide range of issues related to health, socioeconomic inequalities in health, demand for medical care, health preventions, occupational choice, and retirement decisions. The commodity of health is viewed as a durable capital stock that yields a flow of healthy time or illness-free time, that depreciates with age, and that can be augmented with the help of market health inputs and own time. The purpose of this article is to provide a comprehensive critical review of the model. Underlying Grossman's model are a faulty conceptual framework and assumptions that tend to exaggerate the degree of control consumers/patients may have over their state of health and survival. The assumption of full information about one's state of health and the efficacy of various health inputs abstracts away from the problems posed by the agency relationship under uncertainty and informational asymmetry. Grossman's individualistic and mechanistic view of health strips health capital and its production of much of their biological/physiological content and their interactions with the individual's social and physical environment.

  8. The social architecture of capitalism

    Science.gov (United States)

    Wright, Ian

    2005-02-01

    A dynamic model of the social relations between workers and capitalists is introduced. The model self-organises into a dynamic equilibrium with statistical properties that are in close qualitative and in many cases quantitative agreement with a broad range of known empirical distributions of developed capitalism, including the power-law firm size distribution, the Laplace firm and GDP growth distribution, the lognormal firm demises distribution, the exponential recession duration distribution, the lognormal-Pareto income distribution, and the gamma-like firm rate-of-profit distribution. Normally these distributions are studied in isolation, but this model unifies and connects them within a single causal framework. The model also generates business cycle phenomena, including fluctuating wage and profit shares in national income about values consistent with empirical studies. The generation of an approximately lognormal-Pareto income distribution and an exponential-Pareto wealth distribution demonstrates that the power-law regime of the income distribution can be explained by an additive process on a power-law network that models the social relation between employers and employees organised in firms, rather than a multiplicative process that models returns to investment in financial markets. A testable consequence of the model is the conjecture that the rate-of-profit distribution is consistent with a parameter-mix of a ratio of normal variates with means and variances that depend on a firm size parameter that is distributed according to a power-law.

  9. Journalists, Numeracy and Cultural Capital

    Directory of Open Access Journals (Sweden)

    Steven Harrison

    2016-07-01

    Full Text Available Journalists are tasked with holding power to account; often, that means evaluating and interpreting numbers. But anecdotally, journalists are ill at ease with figures. This shortcoming is worrying both in terms of the quality of news provided to the public, and the implications for informed democratic debate. This paper tests the assertion that journalism as a profession is numeracy-challenged through a small-scale study of the numeracy capabilities of journalism students. Some oft-cited reasons for these shortcomings are discussed, including the pressures of deadlines and the tyranny of the 24-hour news cycle, where the mantra of “never wrong for long” appears to justify a casual approach to getting numbers right. Then, drawing on the work of Pierre Bourdieu and his notion of “cultural capital,” the under-appreciated role played by symbolic culture in journalists’ attitude to figures is highlighted. Symbolic culture determines what is valued by a group or sub-group of people (such as journalists, and what it is acceptable to denigrate (“I’m no good at math!” spoken as a boast. Journalism culture, it is argued, is opposed to numeracy. Finally, it is argued that in addition to the worthwhile efforts to improve numeracy skills among journalists, the culture of journalism itself needs to be transformed. The novel suggestion is made that science and math students should be encouraged to enter the profession, which has traditionally been dominated by liberal arts students.

  10. 技术差距、外资来源与工业全要素生产率--基于中间品三维框架的分析%Technology Gap,Foreign Capital Source and Total Factor Productivity of Industry---Analysis of 3 D Frame Based on Intermediate Goods

    Institute of Scientific and Technical Information of China (English)

    宋炜

    2016-01-01

    利用2008~2014年间两位码分类的中国工业分布滞后面板数据,在中间品三维框架下估计了中国工业技术差距对工业全要素生产率的效应。结果表明:随着中间品使用效率快速提升、生产成本日益减小和创新能力的逐渐强化,美欧日韩FDI对工业全要素生产率改善的贡献度越来越大,而我国港澳台地区FDI对工业全要素生产率改善的贡献呈递减之势。只有积极制定和实施以低效率外资退出为主要内容的差异化引资战略,善于利用外资的退出效应释放新的制度红利,才是提升中国工业国际竞争力的根本保证。%Using China industry distributed lag panel data with two-code classified from 2008 to 2014,the paper studies the effects that China industrial technology gap makes to industry total factor productivity in 3D frame based on intermediate goods. Result finds out that with the quick improvement of intermediate goods using efficiency,the gradual reduction of in-termediate goods production cost and the gradual strengthen of intermediate product innovation ability,FDI of America,Eu-rope,Japan and South Korea makes more contribution on the improvement of industry performance,but FDI of Hong Kong, Macao and Taiwan makes less contribution. The paper's conclusion has profound policy meaning:only through takes the withdrawal of low efficiency foreign capital as its main content,and being good at obtaining new institutional dividend from the withdrawal effect of foreign capital,is ultimately guarantee of enhancing China industry international competition.

  11. The effects of HIV/AIDS on economic growth and human capitals: a panel study evidence from Asian countries.

    Science.gov (United States)

    Roy, Shongkour

    2014-01-01

    Human immunodeficiency virus/acquired immune deficiency syndrome (HIV/AIDS) affects economic growths by reducing the human capitals are among the most poorly understood aspect of the AIDS epidemic. This article analyzes the effects of the prevalence of HIV and full-blown AIDS on a country's human capitals and economic growths. Using a fixed effect model for panel data 1990-2010 from the Asia, I explored the dynamic relationships among HIV/AIDS, economic growths, and human capitals within countries over time. The econometric effects concerned that HIV/AIDS plays an important role in the field of economic growths and it is measured as a change in real gross domestic product (GDP) per capita and human capitals. The modeling results for the Asian countries indicates HIV/AIDS prevalence that has a hurtful effect on GDP per capita by reducing human capitals within countries over time.

  12. The Relasionship among Quality and Structure of Social Capital and Organizational Entrepreneurship: a Case Study at Mazinoor Lighting Company

    Directory of Open Access Journals (Sweden)

    Hassan DARVISH

    2011-03-01

    Full Text Available Newday's in addition to different human, financial and economical capital, there is another capital called" Social capital" which is used .this concept points to the connections and relationships between the members of a network as a valuable capital which aims at a achieving the members purpose through the creation of norms and mutual reliance social, is viewed as a suitable context for reaching success and profiting from human and physical capital. Managers and those who contestability social investment in organizations, are able to set appropriate condition for succeeding in their profession and organization otherwise (without social capital other resource will lose their effects and there will be problems and difficulties in the direction of cultural and economical development and evolution. In considering the direction of cultural and economical development and evolutions.in considering the relationships between social capital and organizing recreation , it can be said that social capital facilitates risk-taking and recreation behavior ,which is an essential element of recreation and directly enters the people's practical operation and really capital totally enhances their general activity as in group recreations.In the proposal, the researcher examinical the relationship between social capital and entrepreneurship in lighting industry In mazinoor co. in Mazandaran province and to do this, pearson correlation , two –sentence test and freedman test have been used. Finally the results indicated that a positive an meaningful relationship exists between social capital and it's dimension and entrepreneurship in organization also the correlation crefficient of the structuring dimension of social resource has a mire importance in mazinoor co. The recreation index of the product is a top priority in relation to in entrepreneurship.

  13. A New Theory of Market and Capitalism. In three parts. Part 3. Capitalism

    OpenAIRE

    Zheleznyak, Anatoliy

    2014-01-01

    A new heterodox theory of capitalism is suggested. Its key moments and general logic are presented. Capitalism is considered as a special case of market, as its higher form. Disequilibrium and "imperfect competition" are admitted to be a functional norm of capitalism. Respectively, an equilibrium and "perfect competition" are admitted to be a functional anomaly; crises are considered as the result of such an anomaly. General principles and concrete measures of crisis-proof policy and crisis-p...

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

    OpenAIRE

    Inklaar, Robert

    2008-01-01

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

  15. Social capital, health, and elderly driver status.

    Science.gov (United States)

    Isbel, Stephen T; Berry, Helen L

    2016-03-01

    Driving a car enables many people to engage in meaningful activities that, in turn, help develop and maintain personal social capital. Social capital, a combination of community participation and social cohesion, is important in maintaining well-being. This paper argues that social capital can provide a framework for investigating the general role of transportation and driving a car specifically to access activities that contribute to connectedness and well-being among older people. This paper proposes theoretically plausible and empirically testable hypotheses about the relationship between driver status, social capital, and well-being. A longitudinal study may provide a new way of understanding, and thus of addressing, the well-being challenges that occur when older people experience restrictions to, or loss of, their driver's license.

  16. On Capital Dependent Dynamics of Knowledge

    CERN Document Server

    Szydlowski, M; Szydlowski, Marek; Krawiec, Adam

    2006-01-01

    We investigate the dynamics of growth models in terms of dynamical system theory. We analyse some forms of knowledge and its influence on economic growth. We assume that the rate of change of knowledge depends on both the rate of change of physical and human capital. First, we study model with constant savings. The model with optimised behaviour of households is also considered. We show that the model where the rate of change of knowledge depends only on the rate of change of physical capital can be reduced to the form of the two-dimensional autonomous dynamical system. All possible evolutional paths and the stability of solutions in the phase space are discussed in details. We obtain that the rate of growth of capital, consumption and output are greater in the case of capital dependent rate of change of knowledge.

  17. FDI, Human Capital and Income Convergence

    DEFF Research Database (Denmark)

    Völlmecke, Dominik; Jindra, Björn; Marek, Philipp

    2016-01-01

    This study examines income convergence in regional GDP per capita for a sample of 269 regions within the European Union (EU) between 2003 and 2010. We use an endogenous broad capital model based on foreign direct investment (FDI) induced agglomeration economies and human capital. By applying...... a Markov chain approach to a new dataset that exploits micro-aggregated sub-national FDI statistics, the analysis provides insights into regional income growth dynamics within the EU. Our results indicate a weak process of overall income convergence across EU regions. This does not apply to the dynamics...... within Central and East European countries (CEECs), where we find indications of a poverty trap. In contrast to FDI, regional human capital seems to be associated with higher income levels. However, we identify a positive interaction of FDI and human capital in their relation with income growth dynamics....

  18. FAIR VALUE IMPLICATIONS ON ROMANIAN CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    Ciprian-Dan COSTEA

    2014-12-01

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

  19. Autumn,the Autumn of the Capitalism

    Institute of Scientific and Technical Information of China (English)

    2015-01-01

    The ode “To Autumn” written by Keats in September of 1819,seemingly describes the work and effect of Autumn on specific aspects of nature.Indeed,the poet wants to satire the capitalism in his contemporary times by singing the praises of a season bestowed with the ability to bless.It’s known to the word that the autumn is the climax of the year.While the capitalism in that time is in the state like the autumn,reaching the peak of its development.The word“climax”means the beginning of the down.So Keats’ pretending to praise autumn,in fact,implies a prophet given to his contemporary capitalism:although the autumn harvests all in the world,what the capitalism has achieved is preparing itself for death like the autumn’s malevolent job of being ready for wintry death.

  20. Autumn,the Autumn of the Capitalism

    Institute of Scientific and Technical Information of China (English)

    商滔

    2015-01-01

    The ode "To Autumn" written by Keats in September of 1819,seemingly describes the work and effect of Autumn on specific aspects of nature.Indeed,the poet wants to satire the capitalism in his contemporary times by singing the praises of a season bestowed with the ability to bless.It’s known to the word that the autumn is the climax of the year.While the capitalism in that time is in the state like the autumn,reaching the peak of its development.The word "climax" means the beginning of the down.So Keats’ pretending to praise autumn,in fact,implies a prophet given to his contemporary capitalism: although the autumn harvests all in the world,what the capitalism has achieved is preparing itself for death like the autumn’s malevolent job of being ready for wintry death.