WorldWideScience

Sample records for capital productivity

  1. Human capital and productivity

    OpenAIRE

    Fuente, Ángel de la

    2011-01-01

    This paper surveys the empirical literature on human capital and productivity and summarizes the results of my own work on the subject. On balance, the available evidence suggests that investment in education has a positive, significant and sizable effect on productivity growth. According to my estimates, moreover, the social returns to investment in human capital are higher than those on physical capital in most EU countries and in many regions of Spain.

  2. Communication Capital Productivity: National Aspect

    OpenAIRE

    Naumik Ekaterina G.

    2012-01-01

    The article offers suggestions for assessing communication capital productivity; the contradictions that affect the value of the communication efficiency of capital (the union of the agents of the market of communication services and products allows them to increase the communication capital productivity and to decrease communication capital productivity of competitors) are formulated; the dependence of productivity on the number of communication capital customers of the communication network...

  3. Spare Parts Management of Aging Capital Products

    NARCIS (Netherlands)

    M. Hekimoğlu (Mustafa)

    2015-01-01

    textabstractSpare parts are critical for operations of capital products such as aircraft, refineries, trucks, etc/, which require maintenance regularly. Original Equipment Manufacturers (OEMs) bear the responsibility of undisrupted maintenance service and spare parts flow for their capital products.

  4. Social Capital and Labour Productivity in Italy

    OpenAIRE

    Sabatini, Fabio

    2006-01-01

    This paper carries out an empirical assessment of the relationship between social capital and labour productivity in small and medium enterprises in Italy. By means of structural equations models, the analysis investigates the effect of different aspects of the multifaceted concept of social capital. The bonding social capital of strong family ties and the bridging social capital shaped by informal ties connecting friends and acquaintances are proved to exert a negative effect on labour produ...

  5. Human Capital Productivity: A New Concept for Productivity Analysis

    OpenAIRE

    Fraumeni, Barbara M.

    2012-01-01

    The concept of human capital, defined as the discounted value of future earnings, has a long history in economics. But human capital has never been directly linked to productivity. This article makes an attempt to bring the concepts of human capital and labour productivity together by introducing a new term, human capital productivity, which is defined as the ratio between an index of discounted future output and an index of human capital. While still in its very early stages of conceptual de...

  6. Social capital, product imitation and growth with learning externalities

    OpenAIRE

    Agénor, Pierre-Richard; Dinh, Hinh T.

    2013-01-01

    Links between social capital, human capital, and product imitation are studied in an overlapping generations model of endogenous growth where the key benefit of social capital is to promote imitation. There is also a two-way interaction between imitation and human capital. Building social capital (which brings direct utility) requires time. Because life expectancy is endogenously related t...

  7. Capital misallocation and aggregate factor productivity

    OpenAIRE

    Azariadis, Costas; Kaas, Leo

    2012-01-01

    We propose a sectoral-shift theory of aggregate factor productivity for a class of economies with AK technologies, limited loan enforcement, a constant production possibilities frontier, and finitely many sectors producing the same good. Both the growth rate and total factor productivity in these economies respond to random and persistent endogenous fluctuations in the sectoral distribution of physical capital which, in turn, responds to persistent and reversible exogenous shifts in relativ...

  8. Capital Structure and Product Market Strategy

    OpenAIRE

    Chong-en Bai; Shan Li

    2000-01-01

    This paper develops a general framework to analyze the relationship between a firm's capital structure and its product market strategy and presents a taxonomy of whether debt makes a firm {\\it tough} or {\\it soft} in product market competition and how strategic considerations affect the leverage of a firm based on the nature of the firm's agency problem and the characteristics of the product market. We then offer a unified picture of the related literature and point out some unexplored linkag...

  9. TIME, CAPITAL AND THE STRUCTURE OF PRODUCTION

    Directory of Open Access Journals (Sweden)

    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.

  10. 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...

  11. Public Capital, Congestion and Private Production in Australia

    OpenAIRE

    Lei Lei Song

    2002-01-01

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

  12. 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...

  13. 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.

  14. Exploring the contributions of human and social capital to productivity

    OpenAIRE

    Greve, Arent; Benassi, Mario; Sti, Arne Dag

    2007-01-01

    This paper investigates how human and social capital contribute to individual productivity. We study three firms that complete all their tasks in projects. The employees in all firms initiate and organize their projects. We collected archival data from the firms on performance, human capital, tenure, gender, and their project activities. Social network data is generated from interviews and a survey. We find that social capital is the most important factor to determine prod...

  15. Research Productivity and Social Capital in Australian Higher Education

    Science.gov (United States)

    Salaran, Mohammad

    2010-01-01

    This study investigates the role of social capital in raising research productivity in academic institutions. Social capital as a strategic resource embedded in social relationships can be utilised towards decreasing pressures from external environmental conditions, such as the global financial crisis. A survey was sent to academic staff in five…

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

    Directory of Open Access Journals (Sweden)

    Ohdanskiy K. M.

    2015-05-01

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

  17. Capital accumulation and the growth of aggregate agricultural production

    OpenAIRE

    Haley, Stephen L.

    1991-01-01

    This report empirically examines the role which capital accumulation plays in the growth of agricultural production potential. The report assumes that the degree to which available technology can be implemented in a nation's agricultural sector depends on accumulated investments that have been made in the sector. Results from estimating aggregate agricultural production functions show the primary importance of rural labor in accounting for agricultural GDP and crop production. Capital accumul...

  18. Capital Account Liberalization, Real Wages, and Productivity

    OpenAIRE

    Peter Blair Henry; Diego Sasson

    2008-01-01

    For three years after the typical developing country opens its stock market to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of seven. No such increase occurs in a control group of developing countries. The temporary increase in the growth rate of the real wage permanently drives up the level of average annual compensation for each worker in the sample by 752 US dollars -- an increase equal to more than a quarter ...

  19. Capital

    OpenAIRE

    Coulangeon, Philippe

    2013-01-01

    Empruntée à l’appareil conceptuel de l’économie, la notion de capital désigne en première analyse l’ensemble des ressources dont disposent les individus et les groupes et qui affectent leurs trajectoires, notamment dans les domaines scolaire, professionnel, matrimonial et familial. La sociologie contemporaine se saisit le plus souvent du concept pour en souligner les différentes espèces : capital économique, capital culturel et capital social, principalement. Si le capital économique désigne ...

  20. Capitalization of Local Products through Agro- Household

    Directory of Open Access Journals (Sweden)

    Ramona Ciolac

    2010-10-01

    Full Text Available In every household there are many family activities that provide the necessary income or living foods. Some activities are related to cultivation of land, others for breeding other means services provided by the vilagers. The products of the own household must cover 40% of meals offered to tourists. These products are produced by the householder work in their household, the tourist having the opportunity to observe how the products are produced and participate effectively in this production. Specific rural household products can be recovered through tourism by both indirect and direct ways. Both variants can generate increased profitability and interest of the tourist business activity and impose a sense of satisfaction for quality benefit, issues that may be, in turn, assumptions favorable to the extension of this work.

  1. Is Public Capital Productive in China? Evidence from a Panel of Chinese Provinces

    OpenAIRE

    Jie Zhang

    2013-01-01

    In addition to the direct productivity effect, public capital also has an indirect effect on private capital stock and labor input. This paper offers an evaluation of both the direct and indirect effects of Chinese public capital by applying a trans-log aggregate production function including public capital stock to a panel of regional data from 1986¨C2009. Moreover, we calculate the impact of public capital on regional total factor productivity (TFP) performance by introducing a system GMM e...

  2. Accounting: Labor, Capital and Product Markets

    OpenAIRE

    Shyam Sunder

    2007-01-01

    Accounting practices differ across geographic and political boundaries, across sectors of the economy within these boundaries, and across types of organizations. Globalization exerts a homegenizing force across the political and jurisdictional boundaries with mixed consequences. The development of markets for various factors of production exerts a similar integrative force across sectors of the economy, including business, government and not-for-profit (NFP) sectors. This paper presents an ov...

  3. The effect of immigration on output mix, capital, and productivity

    OpenAIRE

    Myriam Quispe-Agnoli; Madeline Zavodny

    2002-01-01

    The growing influx of immigrants into the United States has prompted concerns about potential negative effects on native workers, especially the less skilled. Such concerns have not been borne out by many studies of the effect of immigration on wages. However, the typical theoretical negative effect of immigration flows on wages may be offset by changes in other aspects of the economy, including output mix, productivity, and capital. ; This article examines the relationship between immigratio...

  4. 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. PMID:20827855

  5. Human capital, the structure of production and growth

    OpenAIRE

    Ciccone, Antonio; Papaioannou, Elias

    2005-01-01

    Do high levels of human capital foster economic growth by facilitating technology adoption? If so, countries with more human capital should have adopted more rapidly the skilled-labor augmenting technologies becoming available since the 1970’s. High human capital levels should therefore have translated into fast growth in more compared to less human-capital-intensive industries in the 1980’s. Theories of international specialization point to human capital accumulation as another important det...

  6. The Effects of Trade Orientation and Human Capital on Total Factor Productivity

    OpenAIRE

    Miller, Stephen M.; Mukti P Upadhyay

    1997-01-01

    We study the effects of trade orientation and human capital on total factor productivity for a pooled cross-section, time-series sample of developed and developing countries. We first estimate total factor productivity from a parsimonious specification of the aggregate production function involving output per worker, capital per worker, and the labor force, both with and without the stock of human capital. Then we consider a number of potential determinants of total factor productivity growth...

  7. Does Social Capital Improve Labour Productivity in Small and Medium Enterprises?

    OpenAIRE

    Fabio Sabatini

    2005-01-01

    This paper carries out an empirical assessment of the relationship between social capital and labour productivity in small and medium enterprises in Italy. By means of structural equations models, the analysis investigates the effect of different aspects of the multifaceted concept of social capital. The bonding social capital of strong family ties and the bridging social capital shaped by informal ties connecting friends and acquaintances are proved to exert a negative effect on labour produ...

  8. 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. PMID:12742602

  9. Effects of Human Capital and Trade Orientation on Output and Total Factor Productivity in Pakistan

    OpenAIRE

    Liaqat Ali; Muhammad Ismaeel Ramay

    2014-01-01

    The objectives of this paper were to study effects of human capital and international trade orientation on the output and total factor productivity in Pakistan. The output and Total factor productivity have been estimated using Cobb-Douglas Production function linking per worker output, per worker capital as well as labor force including and excluding the human capital stock for the period of more than five decades from 1961 to 2013. The data was taken from various secondary sources including...

  10. Effects of Human Capital and Trade Orientation on Output and Total Factor Productivity in Pakistan

    Directory of Open Access Journals (Sweden)

    Liaqat Ali

    2014-10-01

    Full Text Available The objectives of this paper were to study effects of human capital and international trade orientation on the output and total factor productivity in Pakistan. The output and Total factor productivity have been estimated using Cobb-Douglas Production function linking per worker output, per worker capital as well as labor force including and excluding the human capital stock for the period of more than five decades from 1961 to 2013. The data was taken from various secondary sources including Pakistan Bureau of Statistics, State Bank of Pakistan and from various issues of Economic Surveys published by Ministry of Finance and was analyzed using SPSS. The role of potential determinants of output as well as total factor productivity such as human capital, exports, imports, FDI, Government consumption expenditure, education expenditure, capital labor ratio, GDP per capita, life expectancy and population have also been analyzed. According to the results the prevalence of decreasing return to scale was observed in all specification of the estimated production functions. Results also exhibit that the physical capital and employed labor force as significant determinants of output. Human capital becomes significant determinant of output when it is interacted with physical capital and employed labor force. An increasing trend in the output and productivity over time has been observed except during the 1970s. Human capital alone as well as its interaction with physical capital has been emerged as significant determinants of total factor productivity. The capital-labor ratio has also been found as significant determinant of productivity. The findings of the study advocate for more investment in both physical as well as human capital in order to increase the output and productivity in the long run.

  11. "Financial Policies and the Aggregate Productivity of the Capital Stock: Evidence from Developed and Developing Economies"

    OpenAIRE

    Arestis, Philip; Demetriades, Panicos; Fattouh, Bassam

    2002-01-01

    We collect data on a number of financial restraints, including restrictions on interest rates and capital flows and reserve and liquidity requirements, and capital adequacy requirements from central banks of 14 countries. We estimate the effects of these policies on the aggregate productivity of the capital stock, controlling for the effects of inputs and financial development and using modern econometric techniques. We find that financial development has positive effects on productivity, whi...

  12. Human Capital and Labour Productivity, Integration of Institutions and Endogenous Growth

    OpenAIRE

    Lei Delsen; Mark Schonewille

    1999-01-01

    This paper is part of a project that attempts to reveal the way labour market institutions, human capital and labour productivity are interconnected. First we discuss two approaches in the human capital theory, stressing some difficulties that could be solved if the approaches are combined. It is argued that the Nelson-Phelps approach could be improved by adding elements from the Lucas model. We think that the production factor of human capital needs a more detailed description than usual in ...

  13. 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.

  14. The technological capital as production factor in Spanish regions, 1980-2000

    OpenAIRE

    Escribá, Francisco Javier; Murgui , M.ª José

    2007-01-01

    In this work we construct a database of regional technological capital, with the maximun disaggregation compatible with Official Regional Accounts of Spain. In addition, we analyze the goodness of these series and their performance in the estimation of regional aggregate production functions. In the estimations both own technological capital and external capital are included. The results show reasonable estimated values of the output elasticities, which imply rates of return to technological ...

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

    OpenAIRE

    Inmaculada Álvarez Ayuso; Mª Jesús Delgado-Rodríguez; Mª Mar Salinas Jiménez

    2005-01-01

    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 ...

  16. Non-Convex Costs and Capital Utilization: A Study of Production Scheduling at Automobile Assembly Plants

    OpenAIRE

    Hall, George J.

    1997-01-01

    This paper studies how managers at automobile assembly plants organize production across time. Detailed data from eleven single-source automobile assembly plants display considerable cross-plant heterogeneity. At plants which make low- and medium-selling vehicles the capital stock often sits idle, production is more variable than sales, and week-long shutdowns are often used to vary output. In contrast, at plants which make high-selling vehicles, the capital stock rarely sits idle, production...

  17. Are ICT, Human Capital and Organizational Capital Complementary in Production? Evidence from Italian Panel Data

    OpenAIRE

    BIAGI FEDERICO; Parisi, Maria Laura

    2012-01-01

    Information and communication technologies (ICT) are considered to play a central role in determining productivity. The discussion on the impact of ICT on growth and productivity was stimulated by the famous sentence of Robert Solow (1987): “You can see the computer age everywhere but in the productivity statistics” (the so called Solow paradox or productivity paradox). This quote was actually expressing concern that, while investment in ICT during the eighties and early 90s was growing expon...

  18. Critics of Ottoman’s Industrial Production Structure (1913 - 15 In Component Between Labor and Capital

    Directory of Open Access Journals (Sweden)

    Recep SEYMEN

    2011-12-01

    Full Text Available Values of labor and capital in production with Cobb – Douglas production function and values of factor productivity can be determined. With econometric analysis based on data of Ottomans Industry Census in 1913 and 1915; being a production structure of increasing productivity in Ottomans Industry, high level of production as concentrated - technology compared to that periods, and wage that one of the most important discussion subject in relation between labors and employers were drawn conclusions.

  19. 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...

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

    Directory of Open Access Journals (Sweden)

    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.

  1. Public capital effects on spanish regions productivity: a non-parametric approach (1965-1998)

    OpenAIRE

    Ramón Mª-Dolores

    2004-01-01

    This paper contributes to the empirical literature on public capital effects on Spanish regions productivity by applying an alternative approach to examine its influence based on a non-parametric FDH production technology with variable scaling parameters (VP-FDH) proposed in Kersten and Vanden Eeckaut (1999). This technique has significant advantages for regional comparisons of productivity and, more generally, wherever the assumption of convexity for the production set is not likely to be ap...

  2. Empirical analysis of internal social media and product innovation: Focusing on SNS and social capital

    OpenAIRE

    Idota, Hiroki; MINETAKI Kazunori; Bunno, Teruyuki; Tsuji, Masatsugu

    2011-01-01

    Recently social media such as Blog and SNS has been introducing by many firms for means of sharing information inside the firm, in particular to promote product and process innovation. This paper attempts to examine the relationship between social media and product innovation, and research questions are summarized as follows: (i) whether social capital influences the use of social media; (ii) whether social media promotes product innovation; and (iii) whether the effect of social media on pro...

  3. Labor productivity growth, informal wage and capital mobility: A general equilibrium analysis

    OpenAIRE

    Marjit, Sugata; Kar, Saibal

    2007-01-01

    The recent growth experience in India highlights the role of skill-based service sector and productivity improvement rather than a significant rise in physical capital accumulation, which has only reached a new height very recently. In this context we study the possible impact of higher productivity of labor in the formal sector on the informal wage in an economy comprising of skilled and unskilled workers. More productive skilled workers depress informal wage in the short-run, but do not aff...

  4. Integrated Productivity Accounts: Contributions to the Measurement of Capital

    OpenAIRE

    MacDonald, Ryan; Gu, Wulong; Baldwin, John R.

    2010-01-01

    Measures of productivity are derived by comparing outputs and inputs. The System of National Accounts (SNA) in Canada provides a useful framework for organizing the information required for comparisons of this type. Integrated systems of economic accounts provide coherent, consistent alternate estimates of the various concepts that can be used to measure productivity.

  5. 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…

  6. 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…

  7. 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…

  8. Cognitive Capitalism as a Financial Economy of Production

    OpenAIRE

    Fumagalli, Andrea; Lucarelli, Stefano

    2010-01-01

    The structural changes that occurred in the last 30 years have substantially modified the capitalistic organization of society, both at national and international level. In order to understand the evolution of social and economic systems it is necessary to focus on the relations of production, that is on those social relationships that explain the valorisation process. Since the economic crisis of the 1970's until the late 1990's the structure of production in the developed countries ha...

  9. Three Essays on Product Market Capital Market Interactions

    OpenAIRE

    Chowdhury, Jaideep

    2008-01-01

    The Industrial Organization literature investigates the product market decisions of a firm while the corporate finance literature explores the financing decisions of the firm. But the truth is both the financing decisions and the product market decisions are interdependent and should be modeled together to develop a better understanding of a firm's decisions. This thesis takes a step in that direction. The manager of a firm caters to the equity holders of the firm who are protected by li...

  10. OPEC production: Capital limitations, environmental movements may interfere with expansion plans

    International Nuclear Information System (INIS)

    Obtaining capital is a critical element in the production expansion plans of OPEC member countries. Another issue that may impact the plans is the environmental taxes that may reduce the call on OPEC oil by 5 million b/d in 2000 and about 16 million b/d in the year 2010. This concluding part of a two-part series discusses the expansion possibilities of non-Middle East OPEC members, OPEC's capital requirements, and environmental concerns. Non-Middle East OPEC includes Algeria, Gabon, Indonesia, Libya, Nigeria, and Venezuela

  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. Non-convex costs and capital utilization: a study of production and inventories at automobile assembly plants

    OpenAIRE

    Hall, George J.

    1996-01-01

    This paper studies how managers at automobile assembly plants organize production across time. Detailed data from eleven single-source automobile assembly plants display considerable cross-plant heterogeneity. At plants which make low- and medium-selling vehicles the capital stock often sits idle, production is more variable than sales, and weeklong shutdowns are often used to vary output. In contrast, at plants which make high-selling vehicles, the capital stock rarely sits idle, production ...

  13. Optimal pricing of a conspicuous product during a recession that freezes capital markets

    OpenAIRE

    Caulkins, J.P.; Feichtinger, G.; Grass, D.; Hartl, R.F.; Kort, P.M.

    2010-01-01

    Abstract This paper considers the problem of how to price a conspicuous product when the economy is in a recession that disrupts capital markets. A conspicuous product in this context is a luxury good for which demand is increasing in brand image. Brand image here means the ability of a consumer to impress observers by conspicuously displaying consumption of the good. Brand image is built up when the good is priced high enough to make it exclusive, and eroded if the good is discoun...

  14. Capital as a factor of production in OECD agriculture : measurement and data

    OpenAIRE

    Ball, V. Eldon; Lindamood, W. A.; Nehring, Richard F.; Mesonada, Carlos San Juan

    2008-01-01

    This article provides a farm sector comparison of levels of capital input for fourteen OECD countries for the period 1973 to 2002. The starting point for construction of a measure of capital input is the measurement of capital stock. Estimates of depreciable capital are derived by representing capital stock at each point of time as a weighted sum of past investments. The weights correspond to the relative efficiencies of capital goods of different ages, so that the weighted ...

  15. Economy of capital construction product quality through the prism of the evolution of tax processes in Ukraine

    OpenAIRE

    Iastrebova Ganna

    2013-01-01

    The article is devoted to the study of the modern state and methods of assessment of quality of products of capital construction companies through the prism of the evolution of tax processes in Ukraine. It considers specific features of quality economy against the background of evolution processes in Ukraine, marks out the role of the capital construction branch, and determines a significant role of quality of products of the construction company in connection with their role as tax payers. I...

  16. 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

    Directory of Open Access Journals (Sweden)

    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.

  17. Augmenting the production function with knowledge capital to test the Porter hypothesis: the case of French food industries

    OpenAIRE

    Musolesi, Antonio

    2012-01-01

    We investigate the impact of pollution abatement effort on the economic performances by exploiting a rich panel data set composed of French food industry firms, observed over the 1993-2007 period. We test the Porter hypothesis, assuming that pollution abatement effort has a positive effect on the firm performance by triggering innovation. This is done by estimating a production function augmented with knowledge capital, such a capital being produced by both pollution abatement and R&D investm...

  18. 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

    Directory of Open Access Journals (Sweden)

    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

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

    NARCIS (Netherlands)

    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

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

    Science.gov (United States)

    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’. PMID:22616123

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

    Directory of Open Access Journals (Sweden)

    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.

  2. Persistent Differences in National Productivity Growth Rates with A Com-mon Technology and Free Capital Mobility: The Roles of Private Thrift, ...

    OpenAIRE

    Buiter, Willem H.; Kletzer, Kenneth M.

    1991-01-01

    The paper develops a two-country endogenous growth model to investigate possible causes for the existence and persistence of productivity growth differentials between nations despite a common technology, constant returns to scale and perfect international capital mobility. Private consumption is derived from a three-period overlapping generations specification. The source of productivity (growth) differentials in our model is the existence of a non-traded capital good ('human capital') whose ...

  3. 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.

  4. 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. PMID:27458006

  5. INTELLECTUAL CAPITAL AND VALUE CREATION IN THE METAL PRODUCTS MANUFACTURING SEGMENT

    Directory of Open Access Journals (Sweden)

    Joao Francisco Aguiar

    2010-07-01

    Full Text Available The historical evolution of the ratio of investments in intangible assets over GNP in the US economy from 1959 to 2007 – which reached 8 to 10% in 2007 - indicates a positive long term trend that is as relevant as the rate of investments in tangible assets in terms of the GNP, during the same timeframe.  The most surprising fact however, was the expansion beyond expectations over the last 40 years. According to international researchers, this trend is due to a combination of a series of causes, such as the financial globalization, market deregulation and exponential growth of technological changes, rousing the interest of entrepreneurs, scholars and researchers in becoming acquainted with indicators, classifying and ideating these so as to comprehend the value creation  process within companies. The purpose of this line of research was to test Pulic´s Value Added Intellectual Coefficient Model (2000, so as to evaluate its significance in creating value, as applied to the Metal Products Manufacturing segment, utilizing an adjusted data base obtained from the Brazilian Geography and Statistics Institute´s (IBGE Annual Industrial Research (PIA for the period 2000 to 2006, comprising companies with more than 100 employees throughout Brazil, resorting to a panel of static data. Results obtained demonstrate a positive relationship between VAIC and value creation as well as between the Calculated Intangible Value – CIV, (explanatory variable and value creation. Key-Words:  Intellectual Capital. VAIC. Value Creation. IBGE (Brazilian Geography and Statistics Institute.

  6. Capitalization local, traditional products through agrotourism-comparative case study Alps Mountains, Province of Trento-Apuseni Mountains

    Directory of Open Access Journals (Sweden)

    Ramona Ciolac

    2014-11-01

    Full Text Available From the forms of rural tourism, agrotourism is the one that, lately, is developing stronger evolution and enjoy more attention. Ongoing forms of agrotourism are from simply hosting to the profiling the whole system of agro-livestock production in agrotourist purpose. Three components are essential in agrotourism: namely territory represents "raw material" for agrotourism; agrotourist products that must be as authentic and quality; the people responsible for carrying out this activity, farmers. Specialists consider that, local rural communities will have more success in the future, in creation new agrotourist products through witch they ensure the capitalization of their own or local products.  

  7. 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

  8. A cross-section test of Cobb-Douglass production function between market capitalization and GDP

    Science.gov (United States)

    Avakian, Adam; Podobnik, Boris; Stanley, H. Eugene

    2012-02-01

    Most classical economic theories imply that both (a) economies with lower output (GDP) per person tend to grow faster in per capita terms and (b) economies with lower capital per person tend to grow faster in per capita terms. It is well-known that the former was found to be wrong. Taking market capitalization as a proxy for physical capital, we analyze a cohort of countries over a 17-year period (1994-2010) and we find the latter statement in agreement with empirical data implying a contradictive result that while capital data worldwide tend to converge, GDP data tend to diverge. However, for the countries analyzed, for which we have both market capitalization and GDP data, we find that even economies with lower output (GDP) per person tend to grow faster in per capita terms. The result that for all countries one obtains divergence while for a group of countries having both market capitalization and GDP data we have convergence is in contrast with the refutation of (a) but our results only apply to countries that have an exchange market, and are thus participating in globalization, indicating the convergent effect of globalization.

  9. Human Capital a Part of Social Capital

    OpenAIRE

    Inna Fedoryshina

    2014-01-01

    The article considers the content and the structure of human capital. The term “human capital” is viewed as people’s abilities toparticipate in the production process in order to make use of their potential skills. A particular attention is paid to the meaning ofsocial capital and its role in the formation of human capital. It is proven that there is not much research on the connection betweenhuman and social capital. Human development index in Ukraine and 20 leading counties of the global ra...

  10. Intellectual Capital.

    Science.gov (United States)

    Snyder, Herbert W.; Pierce, Jennifer Burek

    2002-01-01

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

  11. Capital operating time and working time in the production function : an evaluation on a panel firms over the period 1989-2001

    OpenAIRE

    Pelgrin, Florian; Sylvain, Arnaud; Heyer, Eric

    2004-01-01

    While a number of studies have demonstrated the importance of factor utilization in economic analysis, the impact of operating hours and/or hours of work in the production function remains largely unknown, particularly in terms of the capital operating time. Using French data on industrial firms for the period 1989 to 2001, we estimate a Cobb-Douglas production function that considers the stocks and both the capital operating time and the working time. We draw on the framework defined by Blun...

  12. The economics of research and development : how research and development capital affects production and markets and is affected by tax incentives

    OpenAIRE

    Shah, Anwar; DEC

    1994-01-01

    Certain themes and findings emerge from the authors analysis of key relationships between research and development (R&D) and other factors. Among them: (1) R&D capital and the structure of production: (a) R&D capital facilitates the mapping of technological possibilities into economic opportunities. (b) R&D takes time to accumulate and uses up scarce resources. The adjustment process from project initiation to product and process development typically takes three to five years. (c) The margin...

  13. Erotic Capital

    OpenAIRE

    Jensen, Natalie Madeleine; Jensen, Benjamin; Engstrøm, Emma; Maas, Jannik; Majchrzak, Izabela

    2016-01-01

    This project “Erotic Capital” concerns the topic and theory of Erotic Capital, coined by Catherine Hakim. The idea of Erotic Capital derives from Pierre Bourdieu’s theory of Personal Capitals – in this, Erotic Capital is discussed as an additional Personal Capital. In connection to the investigation of the theory Erotic Capital, certain theories of Feminism, Masculinity, Femininity, Gender and Cultural Differences are explored and examined. This is done in order to study how these theories...

  14. Capital disadvantage: America's failing capital investment system.

    Science.gov (United States)

    Porter, M E

    1992-01-01

    The U.S. system of allocating investment capital is failing, putting American companies at a serious disadvantage and threatening the long-term growth of the nation's economy. The problem, says Michael Porter, goes beyond the usual formulation of the issue: accusations of "short-termism" by U.S. managers, ineffective corporate governance by directors, or a high cost of capital. The problem involves the external capital allocation system by which capital is provided to companies, as well as the system by which companies allocate capital internally. America's system is marked by fluid capital and a financial focus. Other countries--notably Japan and Germany--have systems with dedicated capital and a focus on corporate position. In global competition, where investment increasingly determines a company's capacity to upgrade and innovate, the U.S. system does not measure up. These conclusions come out of a two-year research project sponsored by the Harvard Business School and the Council on Competitiveness. Porter recommends five far-reaching reforms to make the U.S. system superior to Japan's and Germany's: 1. Improve the present macroeconomic environment. 2. Expand true ownership throughout the system so that directors, managers, employees, and even customers and suppliers hold positions as owners. 3. Align the goals of capital providers, corporations, directors, managers, employees, customers, suppliers, and society. 4. Improve the information used in decision making. 5. Foster more productive modes of interaction and influence among capital providers, corporations, and business units. PMID:10121317

  15. 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

  16. 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.

  17. When 'national innovation system' meet 'varieties of capitalism' arguments on labour qualifications: On the skill types and scientific knowledge needed for radical and incremental product innovations

    NARCIS (Netherlands)

    Herrmann, A.M.; Peine, A.

    2011-01-01

    The literatures on 'varieties of capitalism' (VoC) and 'national innovation systems' (NIS) propose very similar arguments about how firms require different types of labour qualifications to pursue strategies of radical product innovation (RPI), incremental product innovation (IPI), and product imita

  18. Intellectual Capital

    DEFF Research Database (Denmark)

    Mouritsen, Jan; Bukh, Per Nikolaj

    2015-01-01

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

  19. 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.

  20. 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.

  1. Entrepreneurship capital and economic performance

    OpenAIRE

    Audretsch, David B; Keilbach, Max

    2004-01-01

    The neoclassical model of the production function, as applied by Robert Solow to build the neoclassical model of growth, linked labor and capital to output. More recently, Romer and others have expanded the model to include measures of knowledge capital. In this paper we introduce a new factor, entrepreneurship capital, and link it to output in the context of a production function model. This paper explains what is meant by entrepre-neurship capital and why it should influence economic output...

  2. 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......, within a neo-capital framework that unifies the existing ‘plethora' of capitals....

  3. 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...

  4. Displaced Capital

    OpenAIRE

    Valerie A. Ramey; SHAPIRO, MATTHEW D

    1998-01-01

    This paper studies the efficiency with which physical capital can be reallocated across sectors. It presents a model of a firm selling specialized capital in a thin resale market. The model predicts that the selling price depends not only on the sectoral specificity of capital, but also on the thinness of the market and the discount factor of the firm. It then provides empirical evidence on the sectoral mobility of capital based on equipment-level data from aerospace industry auctions. These ...

  5. 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.

  6. 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.

  7. Social Capital in Rural Denmark

    OpenAIRE

    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 f...

  8. Materials, Capital, Direct/Indirect Substitution and Mass Balance Production Functions

    OpenAIRE

    Bergh, van den, H.

    1998-01-01

    A foundation is provided for a correct and accurate analysis of the relationship between monetary values and physical dimensions in economic production. A distinction is proposed between direct and indirect substitution. Linked to this, a classification is offered of various types of substitutability and complementarity relationships between production factors. It is argued that the neoclassical production function may be consistent with mass balance, but is unsuitable for a detailed and accu...

  9. APPLICATIONS OF SOCIAL CAPITAL THEORY

    OpenAIRE

    Schmid, A. Allan; Robison, Lindon J.

    1995-01-01

    Experiments and studies were conducted to investigate the role of social capital. Social capital (relationship to others) is a productive asset which is a substitute for and complement to other productive assets. The productivity of social capital leads to the expectation that firms and individuals invest in relationships. Data were collected to answer the following questions: Does the identity (relationship) of trading partners affect selling and buying prices; the acceptance of catastrophic...

  10. Dynamic Programming, Maximum Principle and Vintage Capital

    OpenAIRE

    Fabbri, Giorgio; Iacopetta, Maurizio

    2007-01-01

    We present an application of the Dynamic Programming (DP) and of the Maximum Principle (MP) to solve an optimization over time when the production function is linear in the stock of capital (Ak model). Two views of capital are considered. In one, which is embraced by the great majority of macroeconomic models, capital is homogeneous and depreciates at a constant exogenous rate. In the other view each piece of capital has its own finite productive life cycle (vintage capital). The interpretatio...

  11. 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...

  12. Measuring Capital

    OpenAIRE

    W. Erwin Diewert

    2003-01-01

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

  13. 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.

  14. 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

  15. 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 maximize…

  16. Entrepreneurship and heterogeneous capital

    OpenAIRE

    Foss, Nicolai J.; Klein, Peter G.

    2008-01-01

    Entrepreneurship is ultimately about the arrangement of resources into productive activi-ties. Much of the entrepreneurship literature, however, has focused on the demand side of the market. While resource heterogeneity is a feature of many theories of the firm, such theories are not built on a systematic theory of capital. We show how the approach to capital developed by the Austrian school of economics provides a natural bridge between theory of entrepreneurship and the theory of the firm. ...

  17. Capital gains

    International Nuclear Information System (INIS)

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

  18. Celebration Capitalism

    OpenAIRE

    Boykoff, Jules

    2014-01-01

    Capitalism is a nimble shapeshifter. In this talk Jules Boykoff draws from the history of the Olympic Games to offer a theory of “celebration capitalism,” a form of modern-day economics that complements Naomi Klein’s “disaster capitalism” marked by neoliberalism: privatization, deregulation, and free-market rhetoric.

  19. 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....

  20. Distributional consequences of capital tax coordination

    OpenAIRE

    2005-01-01

    This paper has two ambitions. First, we review the economic literature on tax coordination. Second, we argue that the taxation of capital is not an issue of efficiency, but instead an issue of equity. In particular, capital tax coordination can alter the vertical distribution of income between the production factors capital and labour. Capital is in perfectly elastic supply in a small open economy. Therefore the tax incidence falls to the immobile factor, labour. By contrast, capital is in in...

  1. Natural Capital: From Metaphor to Measurement

    OpenAIRE

    FENICHEL, ELI P.; Abbott, Joshua K.

    2014-01-01

    Current efforts to value ecosystem services have contributed little to the valuation of natural capital, suggesting that in practice "nature is capital" primarily serves as a metaphor. We provide a theoretically motivated approach for recovering natural capital prices that expands beyond idealized management to encompass current, likely inefficient, management institutions. Theoretically consistent capital valuation requires adjusting for the net marginal productivity of the natural capital a...

  2. 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.

  3. 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......This chapter places The New Spirit of Capitalism in the context of the development of capitalism over the last twenty years, up to and including the 200-7-8 financial crisis and the ongoing economic crisis which has developed out of this and is now focused on the relationship between state...... expenditures, political legitimacy and financial markets. Boltanski and Chiapello's analysis of the projective city and connexionist logic captures important elements of capitalism in the era of neo-liberalism. However, as their analysis shows, any such logics require ‘spirit’, legitimacy and justification...

  4. Crises and human capital accumulation

    OpenAIRE

    Freddy Heylen; Lorenzo Pozzi

    2007-01-01

    This paper studies the effects of crises on human capital formation. Theoretically, a crisis undermines total factor productivity, which reduces the return to working and to accumulating physical capital. If the crisis is temporary, young agents will study now and work later. Human capital rises. To test our model we rely on inflation crises as our main empirical proxy. Using GMM panel procedures, our analysis for 86 countries in 1970-2000 confirms the positive effects of crises on human capi...

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

    OpenAIRE

    Boris Alengordovich Korobitsyn

    2015-01-01

    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 potent...

  6. Intellectual Capital

    OpenAIRE

    Mardešič, Jakub

    2011-01-01

    The work is focused on intellectual capital and its reporting of intangible assets. First part of the work defines the basic theoretical principles, which are an essential part of the work for understanding the issue. Literature review discusses the various components of intellectual capital and focuses on their function within organizations. Work also discusses various approaches of literature and the authors developing a complex theoretical basis for this issue. The following practical part...

  7. 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 ...

  8. Integração de clientes no processo de desenvolvimento de produtos: estudo de casos em empresas de bens de capital Customer integration in product development process: case study in capital goods companies

    Directory of Open Access Journals (Sweden)

    Mario Orestes Aguirre González

    2012-01-01

    Full Text Available Entender as necessidades atuais e futuras dos clientes, traduzi-las em requisitos do produto e incorporá-las no projeto do novo produto são atividades consideradas críticas para o sucesso do processo de desenvolvimento de produtos. Diversas estratégias são adotadas com a finalidade das empresas obterem maior eficiência e eficácia no processo de desenvolvimento de novos produtos, dentre elas destaca-se a integração de clientes neste processo. Este artigo tem por objetivo identificar, em uma amostra de empresas da indústria de bens de capital, as práticas adotadas para integração de clientes, comparar essas práticas com as recomendações da bibliografia e apresentar sugestões para a gestão dessa integração. Foram realizados estudos de casos em cinco empresas industriais do setor de bens de capital. As empresas desse setor, por desenvolverem produtos que, de modo geral, serão implantados nos processos de seus clientes, em princípio necessitam de uma maior integração com os clientes. A análise da revisão bibliográfica sobre o tema e dos resultados do estudo de casos, aponta que práticas de integração de clientes têm efeitos positivos no desempenho do processo de desenvolvimento de produto. Por outro lado, observa-se, nessas empresas, a necessidade de um maior grau de formalização dessas práticas, com adoção de procedimentos e técnicas de suporte. Assim, são propostas um grupo de considerações e recomendações para um melhor gerenciamento da integração de clientes no processo de desenvolvimento de produto.Understanding current and future customer needs, translating them into product requirements, and incorporating them into new product design are activities considered critical to the success of product development processes. Several strategies are adopted by companies in order to achieve greater efficiency and effectiveness in the development of new products. Among them is customer integration into this

  9. Social Capital, Value, and Measure: Antonio Negri's Challenge to Capitalism.

    Science.gov (United States)

    Day, Ronald E.

    2002-01-01

    Considers one concept in knowledge management, that of social capital, focusing on the problem of measure and value in capitalism, specifically within the period and conditions of post-Fordist production. Discusses the work of Antonio Negri and suggests the importance of knowledge management as a symptom of a turn in political economy. (Author/LRW)

  10. On the Essence of Capital and Logic of Capitalistic Production%试论资本的本质与资本主义生产逻辑

    Institute of Scientific and Technical Information of China (English)

    刘挺

    2015-01-01

    Marx believes that capital is neither something abstract nor the sum of the masses of many things, but the social relation of production in certain social and historical conditions. It is the sum of social mass quantity which contains much exchange value. The essence of capitalist society is exploitative relationship, dominating relationship, relationship of property between capital and labor which built on the wage labor. Under different social systems, capital will be destined to accelerate the productive development regardless of ideology. Thus it is necessary to use the public owned capital to liberate and develop the productive forces in the primary stage of socialism in which economy is comparatively backward.%马克思认为资本不是抽象的物,也不仅仅是若干物质量的总和,而是一定社会历史条件下的社会生产关系,它包含了若干交换价值,是若干社会量的总和。资本主义社会的本质其实就是这种建立在雇佣劳动基础上的资本对劳动的剥削关系、统治关系、财产关系等。资本在不同的社会制度下都会促进生产力的快速发展,这并不存在意识形态的区别。因此,在经济社会较为落后的社会主义初级阶段就有必要借助资本的手段,通过发展社会主义公有资本来解放和发展社会生产力。

  11. 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.

  12. Revitalizing ecological capital

    NARCIS (Netherlands)

    Swagemakers, P.; Wiskerke, J.S.C.

    2011-01-01

    The modernization of agricultural food production has diminished and is diminishing the sustainable use of the local natural resource base, resulting in the fragmentation of landscapes and the decline of biodiversity. In this paper we analyze the revitalization of ecological capital, which provides

  13. 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...

  14. Trinidadian capitalism

    OpenAIRE

    Kevin A. Yelvington

    1999-01-01

    [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 histor...

  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. Allergy Capitals

    Science.gov (United States)

    ... McAllen, TX The report looks at 3 important factors: Pollen score Allergy medication usage Availability of Board-certified allergists This year’s report named Jackson, Mississippi, as the top Spring Allergy Capital due to its: Higher than average pollen Higher ...

  17. Capital Gains

    Science.gov (United States)

    Howard, Robert W.

    2004-01-01

    "Social capital" describes the strength of community as measured by the connections and levels of trust among its members. These connections are both formal and informal and the benefits include better health and better academic achievement. In this article, the author proposes two types of experiments to determine whether the relationship between…

  18. 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

  19. 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 ...

  20. Human Capital and Business Cycle Persistence

    OpenAIRE

    Roberto Perli; Plutarchos Sakellaris

    1996-01-01

    In this paper we show that a two sector model with human capital is able to generate persistence in output growth comparable to that observed in the postwar U.S. data. The key feature is a relatively low elasticity of substitution between human capital and raw labor in the production of human capital.

  1. 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…

  2. The “Public Capital Hypothesis” : The Case of Germany

    OpenAIRE

    Conrad, Klaus; Seitz, Helmut

    1992-01-01

    According to the "public capital hypothesis" public investment crowds in private investment by increasing the rate of return to private capital. The present paper uses an extended cost function with public capital included as an unpaid fixed factor of production to ex- amine the impact public capital has on the private economy. Using a panel of four highly aggregated sectors of the West German Economy, it is shown, that the provision of public capital raises the demand for private capital, as...

  3. Why Does Capital Flow to Rich States?

    OpenAIRE

    Sebnem Kalemli-Ozcan; Ariell Reshef; Bent Sorensen; Oved Yosha

    2007-01-01

    We study the determinants of net capital income flows within the United States. We analyze a simple multi-state neoclassical model in which total factor productivity varies across states and over time and capital flows freely across state borders. The model predicts that capital will flow to states with relatively high output growth. Since relative growth patterns are persistent such states are also high output states, which implies that high output will be associated with inflows of capital ...

  4. A bottleneck capital model of development

    OpenAIRE

    Jordan Rappaport

    2002-01-01

    A convex marginal adjustment cost allows the neoclassical growth model to match observed transition paths for output growth, savings, investment, the real interest rate, and the shadow value of installed capital. Such an adjustment cost need apply only to one of two complementary capital inputs with minimal factor income share. The interaction of complementary capital inputs blurs the distinction between capital accumulation and productivity growth.

  5. Innovation, Capital Accumulation and Economic Transition

    OpenAIRE

    Keuschnigg, Christian; Kohler, Wilhelm

    1996-01-01

    Abstract: This paper explores some links between trade, human capital investment and innovation-based growth in the context of Eastern European economies in transition. Specifically, we calibrate a two region model with trade in differentiated high-tech products and a homogeneous traditional commodity. Human capital, or the quality of the skilled labour force, as well as physical capital are accumulated. Human capital remains finite in the long-run but depends endegenously on education and is...

  6. 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.

  7. Human Capital and Sustainability

    Directory of Open Access Journals (Sweden)

    Garry Jacobs

    2011-01-01

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

  8. Instrumental Capital

    Directory of Open Access Journals (Sweden)

    Gabriel Valerio

    2007-07-01

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

  9. Triads of capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase

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

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

    International Nuclear Information System (INIS)

    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

  11. 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.

  12. Is Social Capital an Effective Smoke Condenser?

    DEFF Research Database (Denmark)

    Paldam, M.; Svendsen, Gert Tinggaard

    1999-01-01

    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...... enforcement, and it is discussed how much harm totalitarian regimes do to social capital, when they expand their area of central control....

  13. Intellectual capital is the driver of global competitiveness

    OpenAIRE

    Andriessen, Daan

    2006-01-01

    The value of CUlTent organizations and industries is increasingly located in intangibles (human capital, structural capital and relational capital) and basically,knowledgehasbecomea factor of production and a main asset. This Intellectual Capital does not appear on balance sheets,but ultimately does have an enormous impact and is basic to match the requirements of knowledgeintensiveeconomiesin Asia and Europe.

  14. Intellectual capital is the driver of global competitiveness

    NARCIS (Netherlands)

    Andriessen, Daan

    2006-01-01

    The value of CUlTent organizations and industries is increasingly located in intangibles (human capital, structural capital and relational capital) and basically,knowledgehasbecomea factor of production and a main asset. This Intellectual Capital does not appear on balance sheets,but ultimately does

  15. Capital cost estimate

    Science.gov (United States)

    1975-01-01

    The capital cost estimate for the nuclear process heat source (NPHS) plant was made by: (1) using costs from the current commercial HTGR for electricity production as a base for items that are essentially the same and (2) development of new estimates for modified or new equipment that is specifically for the process heat application. Results are given in tabular form and cover the total investment required for each process temperature studied.

  16. CAPITALS OF CORPORATION OF THE SERVICE INDUSTRY

    Directory of Open Access Journals (Sweden)

    Gonzyus S. N.

    2014-06-01

    Full Text Available The modified production function including the immaterial capitals is offered. Diagrams of capitals, including "core" and "fringe" of the capitals are formed of the material and immaterial capitals. The analysis is carried out and positive experience of innovative development of a number of the known Russian companies according to the corporate reporting is revealed. It's proved that the development of corporation of knowledge economy is provided by a dominating role of financial, human, and also the institutional and cultural and moral capitals

  17. 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

  18. International Capital Movements Under Uncertainty

    OpenAIRE

    1983-01-01

    In this paper, we analyze the determinants of international movements of physical capital in a model with uncertainty and international trade in goods and securities.In our model, the world allocation of capital is governed, to some extent, by the asset preferences of risk averse consumer-investors. In a one-good variant in the spirit of the MacDougall model, we find that relative factor abundance, relative labor force size and relative production riskiness have separate but interrelated infl...

  19. 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... Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy, Transition...

  20. 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

  1. Flexible Capitalism

    DEFF Research Database (Denmark)

    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......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...... flexible commoditization that more commonly is touted as tearing social relations apart. By interrogating a keenly debated contemporary work regime through an approach to sociality rooted in a rich and distinct anthropological legacy, the volume also makes a novel contribution to the anthropological...

  2. Placing social capital

    OpenAIRE

    G Mohan; J Mohan

    2002-01-01

    Metadata only record This paper looks at the relevance and contributions of social capital analysis to human geography and vise versa. The authors start by defining social capital and clarifying and distinguishing concepts, and critiques of Putnam's work. Social capital is simultaneously an economic, sociological, political, and geographical concept, but it must be distinguished from human capital, cultural capital, and networks. Social capital can be relevant to human geographers because ...

  3. Understanding International Differences in Trade and Capital Market Integration

    OpenAIRE

    Sebastián Claro

    2005-01-01

    International integration in capital markets raises the cost of capital in technology-backward countries, pushing them toward specialization in labor-intensive industries. To avoid specialization and to sustain production of capital-intensive industries, governments either impose tari.s or limit the degree of capital market integration. The idea that trade and capital market distortions are substitutes is apparently contradicted by the empirical evidence, that shows that countries with more o...

  4. 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

  5. Human capital and externalities in cities

    OpenAIRE

    Ciccone, Antonio; Peri, Giovanni

    1999-01-01

    We combine growth theory with US Census data on individual schooling and wages to estimate the aggregate return to human capital and human capital externalities in cities. Our estimates imply that a one-year increase in average schooling in cities increases their aggregate labor productivity by 8 to 11 percent. We find no evidence for aggregate human capital externalities in cities however although we use three different approaches. Our main theoretical cont...

  6. Quality Issues in Human Capital Management

    OpenAIRE

    Ion PETRESCU

    2009-01-01

    Human capital and its management are important because give the possibility to organizations to use more productively the personnel by means of measurements, analysis and evaluations than by suppositions. We notice in parallel that the increasing interest towards human capital of the company is more and more obvious. The success, the performance and competition of the companies depend in great measure on the content and quality of human capital management, That is why, the key-word of human c...

  7. National accounting and capital

    OpenAIRE

    John M. Hartwick

    2012-01-01

    National Accounting and Capital presents definitive solutions to current problems in national accounting practice. Professor Hartwick deals expertly with problems in accounting natural capital, financial capital and skills capital and communicates his solutions in specially designed national accounting tables or matrices.

  8. The Economic Impact of Capital-Skill Complementarities in German and US Industries Productivity Growth and the New Economy

    OpenAIRE

    Strobel, Thomas

    2010-01-01

    US labor productivity in ICT-skill intensive industries experienced tremendousincreases in post–1995 trend growth compared to Germany, while other (non-ICT-skillintensive) industries showed similar growth trends in both countries. Examining thesource of industry productivity growth in German ICT-skill intensive sectors, there is noempirical evidence on the influence of ICT-skill complementarities; rather was productivitygrowth of German Motor Vehicles & Other Transports driven by Non-ICT-skil...

  9. Making Capitalism Work: Social Capital and Economic Growth in Italy, 1970-1995

    OpenAIRE

    Lyon, Thomas P.

    2005-01-01

    Using data on the 20 Italian regions for the period 1970-1995, I examine whether the presence of social capital, as reflected in a number of different measures collected by Putnam (1993), affects economic productivity. I find three types of effects. First, social capital, when treated as an input to regional production, has a positive and significant effect in the South, but a much weaker effect in the North. Second, some forms of social capital can significantly increase regions’ propensitie...

  10. Capitalism and human flourishing?

    OpenAIRE

    Gasper, D.R.

    2009-01-01

    What interpretation of human flourishing, what ideas of value does capitalism in practice embody and promote? To address this question the paper clarifies first that "capitalism" must be understood as more than merely a system of private property and markets. It contains "the prerogative of capital", in which surplus remains with the owners of capital, and "the perspective of capital", in which hired work is defined as a cost. The question must also be distinguished from more conventional one...

  11. Is Capitalism Ethical?

    OpenAIRE

    Suciu T.

    2009-01-01

    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 soc...

  12. Capitalism and justification

    OpenAIRE

    Birešev Ana

    2009-01-01

    Weber's thesis that the spirit of capitalism was preexistent to the rise of capitalism itself inspired many sociologist to search for the cultural background of contemporary forms of capitalism. In this paper, the author focuses on and makes comparisons of three approaches of such kind. The one approach draws from Luc Boltanski and Ève Chiapello who examine the development of 'new spirit of capitalism' by focusing on the interrelation of two macroactors - capitalism and critique; the other on...

  13. 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.

  14. 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.

  15. Peers and sources as social capital in the production of news: Online social networks as communities of journalists

    NARCIS (Netherlands)

    Vergeer, M.R.M.

    2015-01-01

    In a very short time span, Twitter has become a major force in modern societies and also in the production of news by journalists. How journalists use Twitter is studied extensively, particularly on a small scale (i.e., qualitative research, specific events, mostly descriptive). However, studies on

  16. 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.

  17. 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

  18. Limited Capital Market Participation and Human Capital Risk

    OpenAIRE

    Jonathan Berk; Johan Walden

    2010-01-01

    The non-tradability of human capital is often cited for the failure of traditional asset pricing theory to explain agents' portfolio holdings. In this paper we argue that the opposite might be true --- traditional models might not be able to explain agent portfolio holdings because they do not explicitly account for the fact that human capital does trade (in the form of labor contracts). We derive wages endogenously as part of a dynamic equilibrium in a production economy. Risk is shared in l...

  19. Capital humano y productividad en microempresas

    OpenAIRE

    Alejandro Mungaray Lagarda; Martín Ramírez Urquidy

    2007-01-01

    The hypothesis that human capital increases productivity is tested using data from a sample of low value-added microenterprises. A special attribute of this paper is the join treatment of formal learning or training in education institutions, and informal training by experience of the owner in the firm management. Following previous studies, the relation between human capital and productivity is determined by estimating production functions with the inclusion of dummy variables to control for...

  20. States, Social Capital and Cooperation

    DEFF Research Database (Denmark)

    Anthony, Denise L.; Campbell, John L.

    2011-01-01

    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...

  1. 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.

  2. A successful capital treadmill

    International Nuclear Information System (INIS)

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

  3. 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.

  4. Solow Residuals Without Capital Stocks

    DEFF Research Database (Denmark)

    Burda, Michael C.; Severgnini, Battista

    2014-01-01

    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...... measurement problems are particularly severe for economies still far from their steady state. This drawback of the Solow residual is thus most acute in applications in which its accuracy is most highly valued. As an application, we compute and compare TFP growth measures for developing countries in the Heston...... 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...

  5. Measuring Irish capital

    OpenAIRE

    Keeney, Mary J.

    2007-01-01

    Irish National Income and Expenditure Accounts do not contain information on capital stocks or capital services estimation. Estimates of the national capital stock and the depreciation of its fixed assets are basic macroeconomic aggregates and are integral components for many modelling exercises. This paper will present a detailed asset-level analysis of the stocks and depreciation of Irish fixed assets and the capital formation flows used to derive them. It will apply an improved perpetual i...

  6. Welfare Enhancing Capital Imports

    OpenAIRE

    Masao Oda; Koji Shimomura; Ryuhei Wakasugi

    2007-01-01

    This paper provides a model to consider the conditions under which an acceptance of foreign capital is welfare enhancing in a multi-commodity multi-factor framework. Contrary to the pessimistic conventional wisdom of capital imports and welfare, we provide a justification for the acceptance of foreign capital and the diversification of industrial structure in developing countries. A sufficient condition for the acceptance of foreign capital to be welfare enhancing is that all domestic factors...

  7. Four Books on Capitalism

    OpenAIRE

    Streeck, W.

    2009-01-01

    Christoph Deutschmann Kapitalistische Dynamik: Eine gesellschaftstheoretische Perspektive. Wiesbaden, VS Verlag, 2008 Geoffrey Ingham Capitalism. Oxford, Polity, 2008 John McMurtry The Cancer Stage of Capitalism. London, Pluto, 1999 Frederic L. Pryor The Future of U.S. Capitalism. New York, Cambridge University Press, 2002

  8. 知识生产模式变革中的科研组织智力资本结构特征%The Structural Features of the Research Organization's Intellectual Capital in the Knowledge Production Mode Transformation

    Institute of Scientific and Technical Information of China (English)

    肖建华; 李雅楠

    2014-01-01

    Intellectual capital (IC) is normally classified into human capital ,structural capital and relational capital ,and is critical for research organizations to get good performance and competitive advantage .At the same time of the knowledge production style changing from ModeⅠ to ModeⅡ as Gibbons et al (1994) defined ,research organizations need to take a more careful attention on IC in different context .Based on the theory of sociology of science and former literatures on in-tellectual capital ,this paper analyzes how IC works in different research organizations according to their knowledge produc-tion mode .%智力资本由人力资本、结构资本和关系资本组成,是科研组织获得绩效和竞争优势的关键。当代知识生产模式已发生了明显变革,由原来单纯以学科为导向的模式Ⅰ逐渐衍生出跨学科、以问题需求为导向的模式Ⅱ,使得科研组织对智力资本的分类管理变得越来越重要。结合科学社会学与智力资本理论,针对变革中的知识生产模式,将科研组织分为学科推动类、应用拉动类和双驱动类3个类型,分析其智力资本特征,提出优化不同类型科研组织智力资本、实现组织目标的相应措施。

  9. 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

  10. Colombian capital goods industry and technological development.

    OpenAIRE

    Zuleta LA; Londono JL; Uribe JD

    1982-01-01

    ILO pub-WEP pub. Working paper, capital goods, technology, industrial development, trends, 1955-1978, Colombia - supply and demand, choice of product, Innovation, technology transfer, obstacles, tariff policy, research policy. Bibliography, diagram, statistical tables.

  11. Factor Accumulation and Economic Growth in Pakistan: Incorporating Human Capital

    OpenAIRE

    Arshad, Shahzad; Munir, Kashif

    2015-01-01

    The objective of this study is to analyze relationship between factor accumulation and economic growth in Pakistan for the time period of 1973 to 2014 using ARDL bound testing approach to cointegration. Considering human capital as a core factor of production we have constructed a series of human capital as average year of schooling and real capital stock is also generated on the basis of gross fixed capital formation. Under endogenous growth model bound testing approach to cointegration sugg...

  12. Public procurement in the presence of capital taxation

    OpenAIRE

    Alfons J. Weichenrieder

    1999-01-01

    The paper considers governments' public procurement decision as a way of influencing industry structure. In a federation in which capital is mobile and capital taxation is harmonized, a home bias in public procurement can potentially be explained as an effort to increase the capital intensity of local production and to attract taxable capital. As a result, governments may prefer domestic firms to more efficient foreign firms.

  13. Unemployment dynamics with international capital mobility

    OpenAIRE

    Azariadis, Costas; Pissarides, Christopher

    2007-01-01

    We study the response of domestic unemployment rates to shocks in total factor productivity for economies with high capital mobility and low labour mobility. We show that rapid capital movements across national borders, like those experienced by developed nations in the last twenty years, substantially amplify the impact on the domestic unemployment rate of domestic fluctuations in total factor productivity relative to what would have happened in a closed economy, shorten the duration of the ...

  14. 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.

  15. 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

    OpenAIRE

    Ddo. Richard Danta;

    2009-01-01

    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 na...

  16. INTERPRETING OVERALL INEQUALITY IN CHINA: THE ROLES OF PHYSICAL CAPITAL, HUMAN CAPITAL AND SOCIAL CAPITAL

    OpenAIRE

    Yuheng LI; Westlund, Hans

    2013-01-01

    This paper investigates the relationship between overall inequality in China and the contributions of physical capital, human capital and social capital. The investment in physical capital tends to enlarge overall inequality while human capital helps to reduce the inequality. Human capital appears to be more influential than physical capital in overall inequality reduction in the research period. Social capital (people's social networks) however, does not seem to exert any impact on overall i...

  17. DIMENSIONS OF HUMAN CAPITAL – SPECIFIC HEALTH APPROACH OF NATIONS CAPITAL

    Directory of Open Access Journals (Sweden)

    Toth Maria

    2012-07-01

    Full Text Available The paper proposes sythesizing the most important correlations between the dimensions of human capital, in order to provide a better theoretical basis for assessing realistic valence motivated human resources sustainable development of society. In terms of conceptual work based on the fundamental role of health capital and the neglect that often has its problems, especially in developing countries. Based on the review abstract theory of human capital, research establishes correlations between dimensions. It shows the importance of ethical component in professionalism and existence of moral capital rooted in medical ethics. Specific breakdowns of health capital, referring to the health of the population and medical services. The research findings highlight the profound connection between morality and productivity seemingly nonexistent (customized to the case of medical services, about joint economic approaches ignored. It also means that the moral, professional and medical staff working in social capital formation influence the health of a nation.

  18. Is Social Capital a Good Concept?

    DEFF Research Database (Denmark)

    Bjørnskov, Christian; Sønderskov, Kim Mannemar

    2013-01-01

    This paper explores whether the concept of social capital as popularized by Robert Putnam is a good social science concept. Taking Gerring’s work on concept evaluation as the starting point, the paper first presents a set of criteria for conceptual ‘goodness’ and discusses how social capital...... performs on these criteria. It is argued that social capital eventually may be a good concept if it can be shown empirically to be a unidimensional concept. An empirical section therefore explores the validity of the unidimensionality assumption and rejects it in four separate tests at both the individual...... and aggregate level. We conclude that even if social capital has been a remarkably productive idea, it is not a good concept as most popular conceptualizations define social capital as several distinct phenomena or as phenomena that already have been conceptualized under other labels....

  19. `Brain drain' without migration: Capital market integration and capital-skill complementarities

    OpenAIRE

    Yasuhiro Sato; Kristian Behrens

    2006-01-01

    We analyze the impacts of capital market integration on the skill composition of labor, using a framework in which heterogeneous agents decide to invest in the acquisition of skills and where production exhibits increasing returns in the available skill range (i.e., capital-skill complementarity).

  20. Human Capital, Bankruptcy and Capital Structure

    OpenAIRE

    Jonathan B. Berk; Richard Stanton; Josef Zechner

    2007-01-01

    We derive a firm's optimal capital structure and managerial compensation contract when employees are averse to bearing their own human capital risk, while equity holders can diversify this risk away. In the presence of corporate taxes, our model delivers optimal debt levels consistent with those observed in practice. It also makes a number of predictions for the cross-sectional distribution of firm leverage. Consistent with existing empirical evidence, it implies persistent idiosyncratic diff...

  1. 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.

  2. 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 ...

  3. Capital Utilization and Capital Accumulation: Theory and Evidence

    OpenAIRE

    Shapiro, Matthew D.

    1986-01-01

    A firm may acquire additional capital input by purchasing new capital or by increasing the utilization of its current capital. The margin between capita accumulation and capital utilization is studied in a model of dynamic factor demand where the firm chooses capital, labor, and their rates of utilization. A direct measure of capital utilization -- the work week of capital -- is incorporated into the theory and estimates. The methodology advocated by Hansen and Singleton (1982) is used to obt...

  4. 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.

  5. Human Capital and Retirement

    OpenAIRE

    Alders, P.

    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 learning-by-doing. The human capital of an employee is subject to depreciation when knowledge of technologies becomes obsolete. After a shock in technology, the worker depreciates on his human capi...

  6. Capital mobility. An overview

    OpenAIRE

    Arndt, H. W.

    2000-01-01

    The article analyses the problem of international capital mobility which the Asian crisis has highlighted. It points out that the problem of capital mobility ("hot money" panics) has a long history, but globalization, the opening up of national economies and technological advance have increased the risks. The article discusses four policy debated which are being pursued in the large Asian crisis literature: (i) the pros and cons of capital controls; (ii) the choice of exchange rate regime; (i...

  7. ACCOUNT INSTRUMENT CAPITAL BORROWED

    Directory of Open Access Journals (Sweden)

    Holt Gheorghe

    2012-03-01

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

  8. KVA: Capital Valuation Adjustment

    OpenAIRE

    Andrew Green; Chris Kenyon

    2014-01-01

    Credit (CVA), Debit (DVA) and Funding Valuation Adjustments (FVA) are now familiar valuation adjustments made to the value of a portfolio of derivatives to account for credit risks and funding costs. However, recent changes in the regulatory regime and the increases in regulatory capital requirements has led many banks to include the cost of capital in derivative pricing. This paper formalises the addition of cost of capital by extending the Burgard-Kjaer (2013) semi-replication approach to C...

  9. Fukuyama on social capital

    Directory of Open Access Journals (Sweden)

    Ignjatović Suzana

    2008-01-01

    Full Text Available The paper aims to provide a synthesis of Fukuyama's theory of social capital Three different conceptual issues are discussed in the article: definition paradigmatic framework, and methodology. Another aspect of Fukuyama's concept of social capital is discussed from the perspective of Fukuyama's great popularity in public policy since the nineties. The concluding part of the paper deals with Fukuyama's place in academic and policy discourse on social capital.

  10. 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....

  11. Human capital and regional development

    OpenAIRE

    Gennaioli, Nicola; LaPorta, Rafael; L??pez-de-Silanes, Florencio; Schleifer, Andrei

    2011-01-01

    We investigate the determinants of regional development using a newly constructed database of 1569 sub-national regions from 110 countries covering 74 percent of the world's surface and 96 percent of its GDP. We combine the cross-regional analysis of geographic, institutional, cultural, and human capital determinants of regional development with an examination of productivity in several thousand establishments located in these regions. To organize the discussion, we present a new model of reg...

  12. TAXES APPLYING TO CAPITAL INVESTMENT ACQUISITION

    Directory of Open Access Journals (Sweden)

    AURA EMANUELA DOMIL

    2012-05-01

    Full Text Available In this workpaper we discussed about tax implications of a capital outlay at the time of acquisition depend on the type of investment being acquired. Many capital outlays, such as introduction of a new product, are combinations of a variety of smaller investments. Governments periodically introduce investment tax credit programs to spur investment. We also discussed about the adjustments that need to be made for corporate taxes at the capital acquisition stage, the operating or asset usage stage and the disposal stage.

  13. 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.

  14. 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...

  15. 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....

  16. Cooperation, social capital and economic performance

    Directory of Open Access Journals (Sweden)

    Marcos Fernandes Gonçalves da Silva

    2006-09-01

    Full Text Available The objective of this paper is to define social capital as social infrastructure and to try to include this variable in an economic growth model. Considering social capital in such a way could have an impact on the productivity of production factors. Firstly, I will discuss how institutional variables can affect growth. Secondly, after analyzing several definitions of social capital, I will point out the benefits and problems of each one and will define social capital as social infrastructure, aiming to introduce this variable into an economic growth model. Finally, I will try to open the way for subsequent empirical studies, both in the area of measuring the stock of social infrastructure as well as those comparing economies, with the idea of showing the impact of social infrastructure on economic growth.

  17. 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.

  18. Enduring Relationships in an Economy with Capital and Private Information

    OpenAIRE

    Latchezar Popov; Ravikumar, B; Aubhik Khan

    2012-01-01

    We introduce capital accumulation into an economy where individuals have private information with respect to productivity shocks. Efficient, incentive-compatible risk-sharing is achieved by conditioning current and future payoffs on the history of productivity reports. We develop a notion of efficiency, similar to that of Atkeson and Lucas (1992). The capital stock in the economy is endogenous in periods after date zero, so our notion of efficiency is minimizing the initial capital stock that...

  19. The Performance of Intellectual Capital

    DEFF Research Database (Denmark)

    Murthy, Vijaya; Mouritsen, Jan

    2011-01-01

    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...

  20. HUMAN CAPITAL AND SUSTAINABILITY OF RURAL DEVELOPMENT

    OpenAIRE

    Milanovic, Milan; Dorovic, Milutin; Stevanovic, Simo

    2009-01-01

    The strategies and policies of agricultural and rural development, within the overall long-term area development, traditionally lean on natural-resource capital and certain differential-rent advantages. New dimensions of the agricultural and rural multifunctionality of areas in the zones of large industrial and urban agglomerations and the inevitable processes of degradation of natural capital, stress the role of science in the process of sustaining the level of overall production potential. ...

  1. Capital-Skill Complementarity: Does capital disaggregation matter?

    OpenAIRE

    Correa, Juan; Lorca, Miguel; Parro, Francisco

    2014-01-01

    Using Chilean manufacturing plants data, we�find: (1) the elasticity of substitution between capital and skilled labor is lower than the elasticity of substitution between capital and unskilled labor, and (2) the higher the technological component of the capital stock the larger the size of complementarity between capital and skilled labor. Our�findings show that capital, as an aggregate input, may under(over) state the complementarity between labor and the type of capital these workers actua...

  2. Capital Flows to Brazil: The Endogeneity of Capital Controls

    OpenAIRE

    Eliane A. Cardoso; Ilan Goldfajn

    1998-01-01

    This paper creates an index of capital controls to analyze the determinants of capital flows to Brazil, accounting for the endogeneity of capital controls by considering a government that sets controls in response to capital flows. It finds that the government reacts strongly to capital flows by increasing controls on inflows during booms and relaxing them in moments of distress. The paper estimates a vector autoregression with capital flows, controls, and interest differentials. It shows tha...

  3. 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…

  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 cha...

  5. 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

  6. Human Capital and Retirement

    NARCIS (Netherlands)

    P. Alders

    1999-01-01

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

  7. 78 FR 76973 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-12-20

    ..., and 225 Regulations H, Q, and Y RIN 7100-AD 87 Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy, Transition Provisions, Prompt Corrective Action, Standardized...-Based Capital Rule, and Market Risk Capital Rule AGENCY: Board of Governors of the Federal...

  8. Social Capital in Asia

    DEFF Research Database (Denmark)

    Li, Peter Ping; Redding, Gordon

    2014-01-01

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

  9. Measuring Social Capital

    DEFF Research Database (Denmark)

    Svendsen, Gert Tinggaard; Bjørnskov, Christian

    2007-01-01

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

  10. 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.

  11. 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.

  12. 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.

  13. The Study of the Components of Urban Social Capital in Central Cities of East Azerbaijan Province

    OpenAIRE

    Reza Ostad Rahimi; Nader Zali

    2013-01-01

    Intordoction Nowadays social capital is disscussed along with human resorces and economic -financial capital. This concept of capital considers the communications between members of the network as a valuable resource which couse individual and collective objective to be realized using norms and mutual trust. Social capital is considered suitable way for increasing productivity of human resources and achieving success. (Knach, 1996, 1260).Social capital is a multidimensional concept which ...

  14. Evaluation of human capital as a factor of economic growth with the help of example from IT industry

    OpenAIRE

    Prudnikov, Pavel

    2014-01-01

    The purpose of the graduation thesis is to study the assessment of the impact of human capital on economic growth based on IT -- sector example. In the final thesis was defined essence of human capital, its role as a production factor, was examined method of human capital evaluation, presented the results of assess of the human capital impact on the company's capitalization and the company's economic growth. The main factor of using VHC formula to calculate the human capital is the availabili...

  15. Social capital as an engine of growth: Multisectoral modelling and implications

    OpenAIRE

    Youyou Baende Bofota, Raouf Boucekkine and Alain Pholo Bala

    2012-01-01

    We propose a multisector endogenous growth model incorporating social capital. Social capital only serves as an input in the production of human capital and it involves a cost in terms of the final good. We show that in contrast to existing alternative specifications, this setting assures that social capital enhances productivity gains by playing the role of a timing belt driving the transmission and propagation of all productivity shocks throughout society whatever the sectoral origin of the...

  16. Capital Humano y Productividad

    OpenAIRE

    Ángel de la Fuente

    2015-01-01

    Este trabajo contiene un breve panorama de la literatura empírica sobre capital humano y productividad y resume los resultados de mi propio trabajo sobre el tema. En conjunto, la evidencia disponible sugiere que la inversión en educación tiene un efecto positivo, significativo y cuantitativamente importante sobre el crecimiento de la productividad. De acuerdo con mis estimaciones, además, la rentabilidad social de la inversión en capital humano es mayor que la del capital físico en la mayor p...

  17. 中国省际资本边际报酬再估算及无谓损失评估%Provincial Marginal Product of Capital in China: How Much Dead Welfare Lost Do We Suffer?

    Institute of Scientific and Technical Information of China (English)

    卢盛荣; 易明子

    2012-01-01

    考虑到中国省际资本品与最终产品的价格可能存在差异,本文利用中国省际宏观数据,重新估算了1993-2008年中国各省份的实际资本边际报酬,推算均衡人均资本与产出,由此计算出产出无谓损失。研究表明,与名义资本边际报酬类似,我国各省份的实际资本边际报酬呈现人均产出较高的东部地区高于人均产出较低的中西部地区的状况。资本边际报酬的显著差异说明我国存在资本的无效率分布。据计算,资本无效分布造成的产出无谓损失大致占当年总产出的7%~10%左右。其中,近90%是由于政府干预下资本流动受阻造成的无谓损失,而由于投资价格水平差异造成的损失仅占10%。%The current papers focusing on China's provincial marginal products of capital do not consider the difference of investment and final products. So MPK is nominal variable. Based on the data of real capital stock, a revised labor supply, and the prices of investment products and final commodity, we calculate the real MPK during 1993-2008 of major provinces of China. The result presents that, generally, provincial PMPK decreases from east to west areas each year, while decrease simultaneously. The unequal MPK and PMPK signal the inefficient capital allocation through the country, which causes dead weight lost approximately 7%- 10% of the GDP. According to analysis, the DWL resulted by friction of capital flowing takes up 90% of the whole lost, and unequal price of investment goods 10%. That the critical factors causing DWL are imperfections of the financial markets and disadvantageous investment environment in western areas is concluded.

  18. 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.

  19. 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....

  20. HUMAN CAPITAL INVESTMENT

    Directory of Open Access Journals (Sweden)

    Ph. D. Student Ioana - Julieta Josan

    2012-05-01

    Full Text Available Once with the development of the human capital theory, the education received an economic value. Leading theorists and specialists in the field have shown that the remarkable economic effects of the investments in education influence the chances of acquiring a job and earnings, demonstrating how the theory justifies such an investment. At the hand, the allocation of resources in human capital brings performance and benefits to companies investing in their employees. Also, the investment in human capital is strategic for any country that seeks to create a knowledge economy. Considering the above arguments, the aim of this paper is to highlight the characteristics of investment in human capital, the types of investment, the factors of education investment and the entities interested in investing and their benefits.

  1. Cultural Capital Today

    DEFF Research Database (Denmark)

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

    2008-01-01

    of social divisions. This leads to a discussion of four core questions: first, are there signs of a strong individualism and, correspondingly, a weak social structuring of lifestyles? The study does not find support for this view. Second, does classical highbrow culture play a central role as a marker......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...

  2. Factor Prices and Welfare Under Integrated Capital Markets

    OpenAIRE

    Carol L. Osler

    1987-01-01

    This paper considers the effect on factor prices and welfare of trade between economies whose production is characterized by nation-specific technological uncertainty. The analysis is carried out using a two-country Diamond overlapping-generations model in which technological uncertainty is reflected in factor prices, and "equities" refer to claims on the returns to capital. We find that trade in capital is complementary to trade in commodities, in the sense that adding free trade in capital ...

  3. The Puzzle of Social Capital: A Critical Review

    OpenAIRE

    Quibria, M.G.

    2003-01-01

    This expository note provides a critical review of the burgeoning literature on social capital and highlights a number of conceptual and empirical issues. First, the concept of social capital remains largely elusive, with many different ideas attached to it. This elusiveness has serious ramifications for empirical and policy analysis. Second, while the concept of social capital is used to highlight the positive, productive aspects of sociability, it fails in important ways to qualify as a for...

  4. Public capital and private investment, a real option approach

    OpenAIRE

    Bruno CRUZ; Pommeret, Aude

    2003-01-01

    In this paper, we extend the usual models of irreversible investment under uncertainty by introducing the stock of public capital as an input for the private sector. Public investment takes place in a stochastic environment. Public capital then increases the productivity of private capital which is assumed to be fully irreversible. In our model, the government has an intertemporal budget constraint, i.e. taxes are collected each period to fund the public debt. We provide a partial equilibrium...

  5. Thin Capitalization Rules and Multinational Firm Capital Structure

    OpenAIRE

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

    2014-01-01

    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 confidential data on the (internal) leverage of foreign affiliates of US multinationals, we find that thin capitalization rules affect multinational firm capital structure in a significant way. Specifically, restri...

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

    OpenAIRE

    Lorz, Jens Oliver

    1996-01-01

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

  7. Religion, Science and Capitalisms

    OpenAIRE

    Rehbein, Boike

    2014-01-01

    This paper enquires into the relation between capitalism, religion and the philosophy of science. We would tend to suppose that there are only superficial and accidental links between them. A closer analysis reveals, however, that the epistemology of contemporary science is still based on a certain interpretation of Christianity and linked to a particular type of capitalism. Science developed after Galileo and Descartes aims at universal truth but was founded on the notion of the Christian ...

  8. Empreendedorismo na capital amazonense

    OpenAIRE

    Filho, Aécio Flávio Ferreira da Silva

    2010-01-01

    This research was elaborated to evaluate entrepreneurship in the Capital of the Amazon State, Brazil. Its relevance is due to the non-existent literature in the subject of entrepreneurship, in the Northern Region of Brazil. The available Brazilian literary archive comprehends only the main cities located in the Southern and Northeastern Regions of the country. There is no research in the Northern Region – where the Amazon State and its Capital, Manaus, are found – and thus lies the reason for...

  9. Measuring Natural Capital

    OpenAIRE

    Dariana Tani

    2014-01-01

    The purpose of this paper is to highlight the importance of establishing a system of natural capital accounting. Natural capital is integral to the economy and yet it is routinely taken for granted because the goods and services it provides are generally freely available. The consequence is that without prices, these resources are not being allocated efficiently within the economy and opportunities for significant gains in well-being and the possibility of long-term future growth are being lo...

  10. 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

  11. An essay on social capital: Looking for the fire behind the smoke

    DEFF Research Database (Denmark)

    Paldam, M.; Svendsen, Gert Tinggaard

    2000-01-01

    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 b...

  12. 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 b...

  13. Private equity and regulatory capital

    NARCIS (Netherlands)

    D. Bongaerts; E. Charlier

    2009-01-01

    Regulatory capital requirements for European banks have been put forward in the Basel II Capital Framework and subsequently in the capital requirements directive (CRD) of the EU. We provide a detailed discussion of the capital requirements for private equity investments under different approaches. F

  14. 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

  15. 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...

  16. Growth accounting in items of turbulence and death: efficiency, technology, capital accumulation and human capital 1929-1950

    OpenAIRE

    Enflo, Kerstin; Baten, J??rg

    2007-01-01

    We employ a non-parametrical approach to growth accounting (Data Envelopment Analysis, DEA) to disentangle the proximate sources of labour productivity growth in 41 nations between 1929 and 1950 by decomposing productivity growth into four components: technological change; efficiency catch-up (movements towards the production frontier), capital accumulation and human capital accumulation. We show that efficiency catch-up generally explains productivity growth, whereas technolog...

  17. 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.

  18. 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.

  19. 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.

  20. 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

  1. Job search, human capital and wage inequality

    OpenAIRE

    Carrillo-Tudela, Carlos

    2012-01-01

    The objective of this paper is to construct and quantitatively assess an equilibrium search model with on-the-job search and general human capital accumulation. In the model workers enter the labour market with different abilities and firms differ in their productivities. Wages are dispersed because of search frictions and workers’ productivity differentials. The model generates a simple (log) wage variance decomposition that is used to measure the importance of firm and worker productivity d...

  2. 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.

  3. 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.

  4. 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...

  5. 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…

  6. 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)

  7. 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.

  8. 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...

  9. A Research on the Effect of Rural Human Capital Drain on Regional Agriculture Growth:Based on the Panel Data of 13 Major Grain Production Provinces%农村人力资本流失的区域农业增长效应研究--基于13个粮食主产省区的面板数据

    Institute of Scientific and Technical Information of China (English)

    刘宁

    2014-01-01

    基于国家统计局农调队“中国农村劳动力的就业和流动就业状况的专项调查”数据,对全国13个粮食主产区省份农村人力资本、农村人力资本流失及农业人力资本状况进行了测算,并采用面板数据模型,分析了农村人力资本流失对区域农业增长的影响。研究结果表明,农村劳动力向非农产业转移使各地区农村人力资本出现不同程度的流失,也降低了农业人力资本存量,降低了人力资本对区域农业增长的产出弹性,影响了财政支农效果。政府应该完善农业经济政策,提高农业经营效益,提高人力资本投入农业生产的激励;完善农村人力资本政策,使农村人力资本结构与农业生产相适应,提高农业人力资本投资效率,使农村人力资本与农业增长形成良性互动。%Based on the special investigation data offered by the rural survey team of National Bureau of Statistics , this paper calculated the rural human capital , rural human capital drain and agriculture human capital of 13 major grain production provinces .Furthermore , an evaluation is made on the effect of human capital drain on regional agriculture growth using a panel data model . The result suggests that a different degree rural human capital drain caused by rural labor transfer has reduced the agriculture human capital , lowering the output elasticity of human capital on agriculture growth and the effect of public finance supply on agriculture .The government should improve its agriculture policy to raise agriculture efficiency so that human capital can be inputted into agriculture .The rural human capital policy should be improved to get coordination of rural human capital and agriculture development , raise agriculture human capital investment efficiency and realize a positive interaction between rural human capital and agriculture increase .

  10. Unsustainable growth, unsustainable capitalism

    DEFF Research Database (Denmark)

    Næss, Petter

    2006-01-01

    problems, but serve to further highlight the difficulties of changing capitalism towards sustainability. In a profit-oriented economy, capital accumulation is a prime driving force, and non-growth for the economy at large tends to result in serious economic and social crises. On the other hand, a de......This article argues that there is a fundamental contradiction between a profit-oriented economic system and long-term environmental sustainability. The 'solutions' that are proposed by mainstream environmental economists as well as their 'ecological economy' colleagues do not solve the central...... 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...

  11. Bank Capital Management

    OpenAIRE

    Jokipii, T.K.

    2009-01-01

    The work undertaken in this study empirically explores the determinants of regulatory bank capital bu®ers, and how they in°uence bank decisions. Focusing on bank capital management under the Basel I framework, this thesis serves to address some of the con- cerns that have been voiced regarding the implementation of the new regulation (Basel II) and the broader economic e®ects that could result. In particular, the research chapters of this thesis examine the cyclical behavior of European bank ...

  12. 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...

  13. 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

    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......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...

  14. 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.

  15. Contingent Capital with a Capital-Ratio Trigger

    OpenAIRE

    Paul Glasserman; Behzad Nouri

    2012-01-01

    Contingent capital in the form of debt that converts to equity when a bank faces financial distress has been proposed as a mechanism to enhance financial stability and avoid costly government rescues. Specific proposals vary in their choice of conversion trigger and conversion mechanism. We analyze the case of contingent capital with a capital-ratio trigger and partial and ongoing conversion. The capital ratio we use is based on accounting or book values to approximate the regulatory ratios t...

  16. Compulsory creativity – a critique of cognitive capitalism

    DEFF Research Database (Denmark)

    Larsen, Steen Nepper

    2014-01-01

    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...... 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...

  17. 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

  18. 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

  19. 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...

  20. 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.

  1. 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

  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. 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...

  4. 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…

  5. 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

  6. 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...

  7. 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...

  8. Planning for Capital Reinvestment.

    Science.gov (United States)

    Biedenweg, Frederick; Weisburg-Swanson, Lynda; Gardner, Catherine

    1998-01-01

    Describes and evaluates four alternatives for planning and budgeting for capital reinvestment for college and university facilities: physical plant auditing; a depreciation-based approach; percentage of current replacement value; and facility subsystem modeling, or life-cycle modeling. Each has advantages and limitations in budgeting for and…

  9. 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......, such as use of online databases for recruitment, intranets to enhance employee access to information and education, and collaborative tools to connect with off-premise researchers, companies reported better performance outcomes. Social capital in the form of connections to people who can provide access...

  10. 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.

  11. 77 FR 52791 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Minimum Regulatory...

    Science.gov (United States)

    2012-08-30

    ... Basel III, Minimum Regulatory Capital Ratios, Capital Adequacy, Transition Provisions, and Prompt... Capital Ratios, Capital Adequacy, Transition Provisions, and Prompt Corrective Action AGENCIES: Office of..., Capital Adequacy, Transition Provisions, and Prompt Corrective Action'' to facilitate the organization...

  12. 30 CFR 220.020 - Calculation of the allowance for capital recovery.

    Science.gov (United States)

    2010-07-01

    ... the capital recovery factor, and shall be debited to the NPSL capital account as specified in § 220... recovery factor. The negative product of this calculation shall be debited to the NPSL capital account as... 30 Mineral Resources 2 2010-07-01 2010-07-01 false Calculation of the allowance for...

  13. 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…

  14. 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.

  15. 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. PMID:10187243

  16. Crony Capitalism: Caricature or Category?

    OpenAIRE

    Mazumdar, Surajit

    2008-01-01

    This paper, part of a series on Crony Capitalism and Contemporary India, examines the conceptual meaning of the term crony capitalism, which has acquired considerable popularity since it was used as an explanation for the East Asian crisis. The paper argues that the conception of crony capitalism as a description of a distinct kind of capitalism associated with the State playing a key role in the allocation process suffers from serious deficiencies and therefore does not provide a suitable fr...

  17. Technology Differences and Capital Flows

    OpenAIRE

    Sebastian Claro

    2004-01-01

    The one-to-one mapping between cross-country differences in capital returns and the direction of international capital flows is broken in a multisector world where international factor price differences are driven by technology differences. A technology-backward or low-return-to-capital country will face capital inflows or outflows after financial integration depending on whether non-tradable demand is bossted or not

  18. Extended Measures of Capital Transactions

    OpenAIRE

    Jorge Selaive; Beatriz Velásquez; José Miguel Villena

    2008-01-01

    In this work, we extend de jure measures of capital account restrictions previously assembled by Miniane (2004) to a set of 181 economies for the period 1996-2005. Additionally, we propose two new measures of capital account restrictions. The first excludes prudential regulation and the second weights the indices by a proxy for the enforcement of capital restrictions. We analyze global tendencies and the process of capital account liberalization in Chile. For the group of economies, we observ...

  19. Risk, capital and financial crisis

    OpenAIRE

    Ghosh, Saibal

    2014-01-01

    Employing data on over 100 banks for Gulf Cooperation Council (GCC) countries during 1996-2011, we test the relation between risk and capital. The findings indicate that banks generally increase capital in response to an increase in risk, and not vice versa. Second, there is an uneven impact of regulatory pressure and market discipline on banks attitude towards risk and capital. Additionally, Islamic banks increased their capital as compared to conventional banks.

  20. MODELLING SOCIAL CAPITAL AND GROWTH

    OpenAIRE

    Yuan K. Chou

    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...

  1. Market Timing and Capital Structure

    OpenAIRE

    Jeffrey A. Wurgler; Baker, Malcolm P.

    2001-01-01

    It is well known that firms tend to raise equity when their market values are high relative to book and past market values. We document that the resulting effects on capital structure are very persistent. As a consequence, current capital structure is strongly related to past market valuations. The results are difficult to explain within traditional theories of capital structure and suggest that capital structure is the cumulative outcome of past attempts to time the equity market.

  2. Auditing and bank capital regulation

    OpenAIRE

    Edward Simpson Prescott

    2004-01-01

    Auditing is introduced into a model of bank capital regulation. Deterministic and stochastic auditing strategies are studied. Contrary to intuition, auditing of bank risk should be focused on the safest banks because they hold the least amount of capital. Risky banks, which hold more capital, need to be audited less. The importance of auditing by regulators and penalties for non-compliance are discussed in light of the Basel II capital regulation proposals. Emphasis is placed on the importanc...

  3. 76 FR 35351 - Capital Plans

    Science.gov (United States)

    2011-06-17

    ... on their capital adequacy and ability to continue to operate and remain credit intermediaries during... monitor and maintain their internal capital adequacy.\\2\\ \\1\\ The proposed amendments to Regulation Y would... capital adequacy that reflect a full understanding of their risks and ensure that they hold...

  4. Intellectual Capital: Comparison and Contrast.

    Science.gov (United States)

    Madsen, Susan R.

    2001-01-01

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

  5. 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

  6. Working Paper on Social capital

    DEFF Research Database (Denmark)

    Lassen Hanan, Anne

    2013-01-01

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

  7. Thin Capitalization Rules and Entrepreneurial Capital Structure Decisions

    Directory of Open Access Journals (Sweden)

    Alexandra Maßbaum

    2009-12-01

    Full Text Available Tax planners often choose debt over equity financing. As this has led to increased corporate debt financing, many countries have introduced thin capitalization rules to secure their tax revenues. In a general capital structure model we analyze if thin capitalization rules affect dividend and financing decisions, and whether they can partially explain why corporations receive both debt and equity capital. We model the Belgian, German and Italian rules as examples. We find that the so-called Miller equilibrium and definite financing effects depend significantly on the underlying tax system. Further, our results are useful for the treasury to decide what thin capitalization type to implement.

  8. Indentifying human capital externalities: Theory with an application to US cities

    OpenAIRE

    Ciccone, Antonio; Peri, Giovanni

    2002-01-01

    The identification of aggregate human capital externalities is still not fully understood. The existing (Mincerian) approach confounds positive externalities with wage changes due to a downward sloping demand curve for human capital. As a result, it yields positive externalities even when wages equal marginal social products. We propose an approach that identifies human capital externalities whether or not aggregate demand for human capital slopes downward. Another advantage of our approach i...

  9. The impact of intellectual capital on the financial performance of depositary banks in Turkey

    OpenAIRE

    Oğraş, Zeynep

    2010-01-01

    69 pages. The purpose of the study is to analyze the impact of intellectual capital on the financial performance of the depository banks in Turkey. The intellectual capital is calculated by using Value Added Intellectual Capital Coefficient (VAIC) method. For measuring the financial performance of the banks, return on equity (ROE), return on total assets (ROA), growth in revenues (GR) and employee productivity (EPR) ratios are used. The effect of intellectual capital on t...

  10. Measuring human capital cost through benchmarking in health care environment.

    Science.gov (United States)

    Kocakülâh, Mehmet C; Harris, Donna

    2002-01-01

    Each organization should seek to maximize its human capital investments, which ultimately lead to increased profits and asset efficiency. Service companies utilize less capital equipment and more human productivity, customer service, and/or delivery of service as the product. With the measurement of human capital, one can understand what is happening, exercise some degree of control, and make positive changes. Senior management lives or dies by the numbers and if Human Resources (HR) really wants to be a strategic business partner, HR must be judged by the same standards as everyone else in the health care organization. PMID:12462657

  11. Performance systems and social capital

    DEFF Research Database (Denmark)

    Rasmussen, Grane Mikael Gregaard; Edwards, Kasper

    2014-01-01

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

  12. Selection of intellectual capital management strategies

    OpenAIRE

    Shcherbachenko Viktoriia Oleksiivna

    2016-01-01

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

  13. 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

  14. Managing the strategic capital cycle.

    Science.gov (United States)

    Kaufman, K

    1997-12-01

    A healthcare organization's financial strategy should be defined within the context of the capital cycle and provide for the management of three critical components that will ensure the expansion and renewal of capital capacity--the design and implementation of the financial plan, the design and implementation of an appropriate capital structure, and a means to strategically utilize capital and reinvest it in the organization. The capital cycle comprises two parts--strategic planning and implementation, and the development of the support infrastructure that includes financial planning, capital structure, and capital allocation. The financial plan positions an organization within an area of financial equilibrium and defines its organizational capabilities. The financial infrastructure gives integrity and momentum to the capital cycle. Capital structure addresses critical funding and financing questions and is best defined as the combination of debt and equity that funds the strategic plan. In regard to capital allocation, healthcare organizations should follow a corporate "best practices" approach for such areas as financial objectives and policies, project review, and the capital expenditures approval process.

  15. 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.

  16. 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.

  17. 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.

  18. 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...

  19. Entrepreneurial Human Capital

    OpenAIRE

    Iversen, Jens; Malchow-Møller, Nikolaj; Sørensen, Anders

    2009-01-01

    We argue that formal schooling and wage-work experience are complementary types of human capital for entrepreneurs. Strong empirical support is found for this hypothesis as the interaction term between schooling and actual wage-work experience enters positively and significantly in a Mincer equation, whereas the effect of schooling in the absence of wage-work experience is insignificant. These results are extremely robust towards more flexible specifications, including fixed-effects estimatio...

  20. Managers and Market Capitalism

    OpenAIRE

    Rebecca Henderson; Karthik Ramanna

    2013-01-01

    In a capitalist system based on free markets, do managers have responsibilities to the system itself? If they do, should these responsibilities shape their behavior when they are engaging in the political process in an attempt to structure the institutions of capitalism? The prevailing view-perhaps most eloquently argued by Milton Friedman-is that the first duty of managers is to maximize shareholder value, and thus that they should take every opportunity (within the bounds of the law) to str...

  1. Social capital and education

    OpenAIRE

    Timur Natkhov

    2012-01-01

    Timur Natkhov, Ph.D. in Economics, Associate Professor in the Subdepartment of Institutional Economics, National Research University - Higher School of Economics, Moscow, Russian Federation. Email: The paper presents a brief evolution of studies on the relationship between education and social capital in different countries. A distinctive feature of these studies is their interdisciplinary nature, as they combine theories and methods of different social sciences.To ide...

  2. Investments in human capital

    OpenAIRE

    Milost, Franko; Novak, Matic

    2016-01-01

    Investments in human capital (employees) include investments in the direct assurance of working abilities, investments in health and well-being and investments in loyalty to the company. These investments are crucial for the long-term existence and development of a company, but their value is not disclosed on the assets side of the classical balance sheet. The most important argument given by the proponents of this approach is that the economic benefits stemming from such investments are unce...

  3. 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

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

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Svendsen, Gert Tinggaard

    2003-01-01

    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...... 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...

  5. 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.

  6. fuente de capital humano

    Directory of Open Access Journals (Sweden)

    Ligia Becerra

    2005-01-01

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

  7. 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

  8. Human Capital Quality and Development: An Employers' and Employees' Comparative Insight

    Directory of Open Access Journals (Sweden)

    Neagu Olimpia

    2016-09-01

    Full Text Available The aim of the paper is to compare the employers' and employees' insights on human capital quality defining and human capital development at organisational level, based on a survey carried out in the county of Satu Mare, Romania. Our findings show that as human capital buyers, employers understand by human capital quality professional background and skills, professional behaviour and efficiency and productivity for the organisation. As human capital sellers, for employees human capital quality means health and the ability to learn and to be suitable to the job requirements. Regarding the opportunities to develop the organisational human capital, the views of employers and employees are very different when the level of discussion is international (macro-level. Employees consider that the international environment has a greater impact on human capital development in their organisation as the employers.

  9. 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

  10. 12 CFR 933.5 - Disclosure to members concerning capital plan and capital stock conversion.

    Science.gov (United States)

    2010-01-01

    ... the general effect thereof upon the rights of existing members; and (4) A description of any other... dividends, product volumes, investment volumes, new business lines and risk profile. (3) A description of... description of any restrictions or limitations under a Bank's capital plan on a member's rights to buy,...

  11. Capital Income Taxation and Tax Criteria in International Capital Markets

    OpenAIRE

    Hannu Piekkola

    1995-01-01

    The study analyses the capital income taxation of foreign-source income, where residence and source criteria are the two well-known tax criteria. The study presents a globally optimal tax rule which equalizes the shadow price of capital in the countries and which is assumed to be a weighted average of the return on savings and on investment, i.e. depending on the gross rate of return to the extent that capital contributes to the capital used, and on the net interest rate to the extent that ca...

  12. Role of Feed Forward Neural Networks Coupled with Genetic Algorithm in Capitalizing of Intracellular Alpha-Galactosidase Production by Acinetobacter sp.

    Directory of Open Access Journals (Sweden)

    Sirisha Edupuganti

    2014-01-01

    Full Text Available Alpha-galactosidase production in submerged fermentation by Acinetobacter sp. was optimized using feed forward neural networks and genetic algorithm (FFNN-GA. Six different parameters, pH, temperature, agitation speed, carbon source (raffinose, nitrogen source (tryptone, and K2HPO4, were chosen and used to construct 6-10-1 topology of feed forward neural network to study interactions between fermentation parameters and enzyme yield. The predicted values were further optimized by genetic algorithm (GA. The predictability of neural networks was further analysed by using mean squared error (MSE, root mean squared error (RMSE, mean absolute error (MAE, mean absolute percentage error (MAPE, and R2-value for training and testing data. Using hybrid neural networks and genetic algorithm, alpha-galactosidase production was improved from 7.5 U/mL to 10.2 U/mL.

  13. 社会资本对农户新技术品种采用意愿的影响%Effects of Social Capital on Rural Residents' Adoption Willingness of New Technology Product

    Institute of Scientific and Technical Information of China (English)

    王海军; 李艳军

    2012-01-01

    对影响农户新技术品种采用的因素进行研究,经过文献查询和实地调研主要从农户的基本特征和社会资本两个方面进行探讨,运用Logistic回归分析等方法,对湖北荆州地区油菜种植农户新技术品种采用行为调查所得的数据进行实证分析.结果表明,农户基本特征中年龄、教育程度、劳动人口、种植规模、种植目的是影响农户采用新技术品种的重要因素,但种植规模和目的是较为重要的因素;农户社会资本网络规模中农户社会活动参与频度是影响农户采用新技术品种的重要因素,重点关注农户与村干部之间关系因素;农户社会资本网络质量是影响农户采用新技术品种的决定因素,值得关注的是农户对经销商的信任质量因素的影响作用.%The factors which affect rural residents' adoption of new technology product were mainly focused on. Through the approaches of literature reviewing and empirical research and from the two perspectives of demographic characteristics and social capital, based on the logistic regression approach, the adoption behaviour of rural residents in Jingzhou district using the collected data from the district was analyzed. The results showed that among all the demographic variables, age, education, labor, scale, and intention were the key variables which affected the adoption behaviour of new technology product, while the scale and intention were slightly less important; the social activity participation frequency, which was included in the social capital network system, was an important factor affecting the adoption behaviour, the relationship factor between rural residents and rural government members should be placed as a high premium factor. Besides, the influence of rural residents' trust on dealers should also draw close attention.

  14. 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

  15. Human Capital and Efficiency: The Role of Education and Experience in Micro-Enterprises of Ghana¡¯s Wood-Products Industry

    OpenAIRE

    Omer Gokcekus; Kwabena Anyane-Ntow; Richmond, T. R.

    2001-01-01

    Increasing efficiency and creating new employment via micro-enterprises emerges as a viable solution to four problems in developing countries - unemployment, migration from rural to urban areas, inefficient use of resources and lack of international trade capabilities. 242 micro- enterprises from Ghana¡¯s wood-product industry are used in the analysis. Schooling and on- the-job training explain efficiency dispersions among micro-enterprises. Accordingly, a proper training program can compleme...

  16. 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.

  17. 要素市场扭曲、资本深化与产业结构调整--基于时变弹性生产函数的实证分析%Factor Market Distortion,Capital Deepening and Industrial Structure Adjustment:the Empirical Analysis Based on Production Functions with Time-Varying Elasticity

    Institute of Scientific and Technical Information of China (English)

    李程

    2015-01-01

    基于时变弹性生产函数估计了中国资本要素1978—2009年分产业的产出弹性,用各年各产业的资本收入份额减去其产出弹性表示资本要素的扭曲程度,并实证研究了资本要素扭曲和资本深化的关系,结论表明:第一产业基本是负向扭曲,第二产业是不很规则的U型曲线,第三产业则基本是倒U型曲线;各个产业的资本深化程度不同,用资本产出比衡量,从大到小排列顺序为三二一;资本要素市场扭曲会促进产业资本深化,在第三产业尤为明显。政策层面既要发展第三产业,又要警惕其资本过度深化,根本出路在于要素市场完善与产业结构调整的市场化。%Based on production functions with time‐varying elasticity , this paper estimates the elasticities of China's capital factor from 1978 to 2009 in different industries ,calculates the distortion of capital factor by means of each industry's capital payment proportion in national income minus the output elasticities of capital ,and empirical research is used to analyses the relationship between the distortion of capital factor market and capital deepening .T he conclusions show that the primary industry has a negative distortion curve , the secondary industry has an irregular U shape distortion curve , and the tertiary industry has an inverse U shape distortion curve .Each industry with different degrees of capital deepening has a range of tertiary secondary primary from high to low by means of capital‐output ratio .The distortion will promote the industrial capital deepening ,especially in the tertiary industry .We should draw the policy to develop the tertiary industry and avoid the excess capital deepening at the same time .The ultimate method is the reformation of factor market and the adjustment of industry based on market .

  18. Capital social et anthroponomie

    OpenAIRE

    Peaucelle, Irina

    2002-01-01

    Dans ce texte j'analyse les relations entre la composante Santé du capital social et la reproduction élargie de l'économie. Il s'agit aussi de discuter des méthodes d'évaluation de santé des populations pour apprécier leur potentiel de travail. En s'appuyant sur des travaux en psychologie sociale, je cherche à appréhender les rythmes anthroponomiques de l'évolution économique.

  19. Contratos de capital humano

    OpenAIRE

    Oscar Alejandro Goyes Viteri

    2005-01-01

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

  20. Capital social comunicativo

    Directory of Open Access Journals (Sweden)

    Darío Ángel

    2011-01-01

    Full Text Available En este artículo se buscan establecer las bases para una transformación del tradicional triángulo comunicativo emisor-mensaje-receptor, por un esquema que haga alusión a la dinámica social de la comunicación relacionada con lo público: actores-escenarios-sentidos. De esta forma, es posible conformar guías para la acción y encontrar en los actores ciudadanos de comunicación, la conformaciónde un capital social para la democracia.

  1. Knight Capital Americas LLC

    DEFF Research Database (Denmark)

    Austin, Robert D.; Meister, Darren

    2015-01-01

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

  2. Corruption and Social Capital

    DEFF Research Database (Denmark)

    Bjørnskov, Christian

    2003-01-01

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

  3. 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.

  4. Human Capital and Genetic Diversity

    OpenAIRE

    Sequeira, Tiago; Santos, Marcelo,; Ferreira-Lopes, Alexandra

    2013-01-01

    The determinants of human capital have been studied sparsely in the literature. Although there is a huge literature on the determinants of schooling linked with the quality of schooling, there are not many contributions that explore the deep determinants of investment in, quantity and quality of human capital. This paper investigates the relationship between human capital and the ancestral genetic diversity of populations. It highlights a strong hump-shaped relationship between genetic divers...

  5. 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.

  6. Worker Remittances and Capital Flows

    OpenAIRE

    Buch, Claudia M; Kuckulenz, Anja; Le Manchec, Marie-Helene

    2002-01-01

    The debate on the risks and benefits of the globalisation of international capital markets has focused on the volume and the volatility of the main capital flows — foreign direct investment (FDI), portfolio investment, and foreign bank lending. Financial transfers in the form of worker remittances have received less attention in this context. This paper provides an analysis on the magnitude of remittances, their volatility, and their relationship to other capital flows. Moreover, we provide ...

  7. Capitalism and African business cultures

    OpenAIRE

    Taylor, Scott D.

    2014-01-01

    Scholars and practitioners once commonly linked 'African culture' to a distinctive 'African capitalism', at odds with genuine capitalism and the demands of modern business. Yet contemporary African business cultures reveal that a capitalist ethos has taken hold within both state and society. The success and visibility of an emergent, and celebrated, class of African big business reveals that business and profit are culturally acceptable. Existing theories of African capitalism are ill-equippe...

  8. Coincident Indicators of Capital Flows

    OpenAIRE

    Malika Pant; Yanliang Miao

    2012-01-01

    Capital flows data from Balance of Payments statistics often lag 3-6 months, which renders timely surveillance and policy deliberation difficult. To address the tension, we propose two coincident composite indicators for capital flows that improve upon existing proxies. We find that the most widely used proxy, the capital tracker, often overpredicts net flows by 30 percent. We augment the tracker into a composite indicator by assigning to it a lesser but optimally estimated weight while incor...

  9. New Capital Estimates for China

    OpenAIRE

    Holz, Carsten A

    2005-01-01

    Data on physical capital are an indispensable part of economic growth and efficiency studies. In the case of China, fixed asset time series are usually derived either by aggregating gross fixed capital formation data over time, net of depreciation, or by correcting the limited official fixed asset data available. These procedures, to varying degrees, ignore that (i) gross fixed capital formation does not equal investment, (ii) investment does not equal the value of fixed assets newly created ...

  10. Essays on Public Capital and Economic Growth

    OpenAIRE

    Alpaslan, Baris

    2014-01-01

    In recent years, there has been an increasing interest in the fact that publiccapital, or public infrastructure, plays a crucial role in determining economic growthin low-income countries. This thesis studies the links among public capital, economicdevelopment, and growth, using overlapping generations (OLG) models.Chapter 1 develops a three-period, gender-based overlapping generations modelof endogenous growth with endogenous intra-household bargaining and child labourin home production by g...

  11. Social Capital, a theory for Operations Management.

    OpenAIRE

    Matthews, Rupert Lawrence; Marzec, Pete

    2011-01-01

    Abstract As Pfeffer (1993) states, until agreement is reached on a subject, progress may be slow. This paper converges the discussions on social capital in the operations management literature by way of a systematic literature review of 3 and 4 star journals. Human Resource Management, voluntary work and entrepreneurship were identified as minor themes within the review and thus potentially underexplored areas. Quality management, project management and new product development show...

  12. 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.

  13. Appropriate Technology, Human Capital and Development Accounting

    OpenAIRE

    Chanda, Areendam; Farkas, Beatrice

    2012-01-01

    Over the past decade, research explaining cross country income differences has increasingly pointed to the dominant role of total factor productivity (TFP) gaps as opposed to factor accumulation. Nevertheless, it is a widely held belief that a country’s ability to absorb and implement technologies is tied to its human capital. In this paper, we implement this idea in a novel specification and explore its quantitative implications within a development accounting framework. In our model, interm...

  14. CREATIVE WORK UNDER COGNITIVE CAPITALISM CONDITIONS

    OpenAIRE

    Viktor Barhatov; Yuner Kapkaev; Oleg Dyachenko

    2014-01-01

    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...

  15. Essays in the Empirical Analysis of Venture Capital and Entrepreneurship

    OpenAIRE

    Romain, Astrid

    2007-01-01

    EXECUTIVE SUMMARYThis thesis aims at analysing some aspects of Venture Capital (VC) and high-tech entrepreneurship. The focus is both at the macroeconomic level, comparing venture capital from an international point of view and Technology-Based Small Firms (TBSF) at company and founder’s level in Belgium. The approach is mainly empirical.This work is divided into two parts. The first part focuses on venture capital. First of all, we test the impact of VC on productivity. We then identify the ...

  16. Quantifying capital goods for collection and transport of waste

    DEFF Research Database (Denmark)

    Brogaard, Line Kai-Sørensen; Christensen, Thomas Højlund

    2012-01-01

    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...... tonne of waste handled. The impact of producing the capital goods for waste collection and transport cannot be neglected as the capital goods dominate (>85%) the categories human-toxicity (non-cancer and cancer), ecotoxicity, resource depletion and aquatic eutrophication, but also play a role (>13...

  17. Social Capital and Economic Growth

    OpenAIRE

    Reino Hjerppe

    1998-01-01

    It is argued in order to explain large differences in the level of the development and the growth of economies cannot be adequately explained only by looking the traditional inputs of labour, capital and natural resources. The hypothesis is that also the role of social capital needs to be taken into account. First the concept of social capital is defined and discussed. Then the role of social capital in the development process is explained. Empirical test based on the cross-country data of 27...

  18. 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...

  19. Exploring the social capital grid

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Patulny, Roger

    2007-01-01

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

  20. 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

  1. Public Capital and Income Distribution: a Marriage of Hicks & Newman-Read

    OpenAIRE

    Getachew, Yoseph

    2008-01-01

    This paper examines how publicly provided inputs could affect income distribution. By applying the Newman-Read production function- a generalized Cobb-Douglas production function- to Hicks's idea of the determinant of factor share, such usually complex dynamics remain analytically tractable. The paper shows that whether public capital has an effect on income distribution dynamics depends on its elasticity of substitution to private capital. If the elasticity of substitution of public capital ...

  2. Comprehensive wealth, intangible capital, and development

    OpenAIRE

    Ferreira, Susana; Hamilton, Kirk

    2010-01-01

    Existing wealth estimates show that in most countries intangible capital is the largest share of total wealth. Intangible capital is calculated as the difference between total wealth and tangible (produced and natural) capital. This paper uses new estimates of total wealth, natural capital, and physical capital for a panel of countries to shed light on the constituents of the intangible ca...

  3. 12 CFR 615.5200 - Capital planning.

    Science.gov (United States)

    2010-01-01

    ... POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Capital Adequacy § 615.5200 Capital planning. (a) The Board...'s capital adequacy plan. Rather, the standards are intended to serve as minimum levels of capital... capital adequacy plan as a part of the financial plan required by § 618.8440 of this chapter. The...

  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. Misallocation, informality, and human capital: understanding the role of institutions

    OpenAIRE

    D'Erasmo, Pablo; Moscoso Boedo, Herman J.; Senkal, Asli

    2014-01-01

    Accepted for publication, Journal of Economic Dynamics and Control The aim of this paper is to quantify the role of formal-sector institutions in shaping the demand for human capital and the level of informality. We propose a firm dynamics model where firms face capital market imperfections and costs of operating in the formal sector. Formal firms have a larger set of production opportunities and the ability to employ skilled workers, but informal firms can avoid the costs of formalization. T...

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

    OpenAIRE

    Konomi Tonogi; Jun-ichi Nakamura; Kazumi Asako

    2014-01-01

    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 sim...

  7. Raising capital for Finnish IT SMEs through IPOs

    OpenAIRE

    Tran, Linh

    2015-01-01

    This is a research-based thesis that aims to point out the possibilities for Finnish IT SMEs to generate capital through an initial public offering, i.e. IPO. Information technology companies usually need a significant amount of capital, e.g. for their R&D, so that they can improve their products or services and satisfy customers. In addition, European Union has encouraged companies, especially SMEs, to join the public equity market. The research consists of theoretical knowledge regardin...

  8. Quantifying capital goods for collection and transport of waste

    OpenAIRE

    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 contribu...

  9. Venture Capital Investment in the Clean Energy Sector

    OpenAIRE

    Shikhar Ghosh; Ramana Nanda

    2010-01-01

    We examine the extent to which venture capital is adequately positioned for the rapid commercialization of clean energy technologies in the United States. While there are several startups in clean energy that are well-suited to the traditional venture capital investment model, our analysis highlights a number of structural challenges related to VC investment in the sector that are particularly acute for startups involved in the production of clean energy. One of key bottlenecks threatening in...

  10. 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.

  11. 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. PMID:11408980

  12. Convergence and Economic Growth considering Human Capital and R&D Spillovers Convergencia y Crecimiento Economico en Mexico considerando al Capital Humano y derrames en Investigacion y Desarrollo

    OpenAIRE

    Alejandro Diaz-Bautista

    2005-01-01

    In the recent growth literature, the accumulation of human capital and R&D have gained a central role. This study tries to narrow the bridge between the fields of regional convergence theory, economic growth and human capital. Unlike traditional economic growth theories, which tend to focus on exogenous comparative advantage or technological differences among regions as causes for growth, regional economic growth emphasizes the roles of increasing returns to scale in production, human capital...

  13. Can Venture Capital Foster Innovation in Canada? Yes, but Certain Types of Venture Capital Are Better Than Others

    OpenAIRE

    Tariq Fancy

    2012-01-01

    Canada’s problem with lagging productivity growth has led policymakers to focus on boosting innovation, in part by supporting Canadian venture capital funding for business. But which types of venture capital (VC) funds are most effective in spurring innovation? This study examines that question in the Canadian context by examining the records of VC funding in generating new patent applications for the period 1996-2008. Overall, Canadian VC funding spurs innovation more effectively on a dollar...

  14. 75 FR 6151 - Minimum Capital

    Science.gov (United States)

    2010-02-08

    ... Cease and Desist Order, as amended. See 74 FR 5597 (January 30, 2009). As a result, the definition of... AGENCY 12 CFR Part 1225 RIN 2590-AA01 Minimum Capital AGENCY: Federal Housing Finance Agency. ACTION... Soundness Act that provides for a temporary increase in the minimum capital level for entities regulated...

  15. 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…

  16. 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

  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. 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

  19. 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…

  20. 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.

  1. 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...

  2. 12 CFR 565.4 - Capital measures and capital category definitions.

    Science.gov (United States)

    2010-01-01

    ... for any rating category (other than in a rating category specifically addressing capital adequacy... 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...

  3. 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...

  4. Governing Global Capital

    DEFF Research Database (Denmark)

    Harrington, Brooke

    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...... and international policy-making bodies to advance the interests of the profession and its wealthy clients; and 3) by writing the fiscal legislation of some jurisdictions. Through these mechanisms, the profession has reconfigured political and economic power trans-nationally, shifting the world’s financial center...

  5. 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....

  6. Individual social capital and survival

    DEFF Research Database (Denmark)

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

    2014-01-01

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

  7. 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”.

  8. 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

  9. 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,…

  10. Capital Account Liberalization as a Signal

    OpenAIRE

    1996-01-01

    We present a model in which a government's current capital controls policy signals future policies. Controls on capital outflows evolve in response to news on technology, conditional on government attitudes towards taxation of capital. When there is uncertainty over government types, a policy of liberal capital outflows sends a favorable signal that may trigger a capital inflow. This prediction is consistent with the experience of several countries that have liberalized their capital account

  11. Uninsurable investment risks and capital income taxation

    OpenAIRE

    Césaire A. Meh; Terajima, Yaz

    2009-01-01

    This paper studies the capital accumulation and welfare implications of reducing capital income taxation in a general equilibrium economy with uninsurable investment risks. It has been shown that, with uninsurable investment risks, under-accumulation of capital may result compared to the complete markets economy. We show that reducing somewhat the capital income tax rate increases the capital stock and leads to a welfare gain. The complete elimination of the capital income tax, however, is no...

  12. Capital regulation and banks' financial decisions

    OpenAIRE

    Zhu, Haibin

    2015-01-01

    This paper develops a stochastic dynamic model to examine the impact of capital regulation on banks' financial decisions. In equilibrium, lending decisions, capital buffer and the probability of bank failure are endogenously determined. Compared to a flat-rate capital rule, a risk-sensitive capital standard causes the capital requirement to be much higher for small (and riskier) banks and much lower for large (and less risky) banks. Nevertheless, changes in actual capital holdings are less pr...

  13. Corruption, Public Expenditure, and Human Capital Accumulation

    OpenAIRE

    Spyridon Boikos

    2013-01-01

    In this paper we investigate the effect of corruption on human capital accumulation through two channels. The first channel is through the effect of corruption on the public expenditure on education and the second channel is through the effect of corruption on the physical capital investment. Public expenditure on education affects positively human capital, while physical capital can obsolete human capital. Initially, we construct an endogenous two-sector growth model with human capital accum...

  14. Intellectual capital: Evidence from banking industry

    OpenAIRE

    Somayeh Boostani; Shabnam Fotovvat; Karam Safari

    2014-01-01

    This paper investigates different components on intellectual capital including human capital, structural capital and customer capital in banking industry in city of Salmas, Iran. The study uses the questionnaire developed by Bontis (1998) [Bontis, N. (1998). Intellectual capital: an exploratory study that develops measures and models. Management Decision, 36(2), 63-76.] to measure the effects of human capital. The questionnaire consists of 42 questions and all of them are designed in Likert s...

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

    Science.gov (United States)

    2010-01-28

    ... Policy Analyst, (202) 906-5740, Capital Risk, or Marvin Shaw, Senior Attorney, (202) 906-6639...-in of the regulatory capital effects of the accounting changes, among other issues.\\9\\ \\9\\ 74 FR... Consolidated Financial Statements for Bank Holding Companies (FR Y-9C). In the NPR, the agencies...

  16. IT capital stock tells a little about the growth of Japanese industries: Industry-level evidence on the economic impact of investment in information technology(in Japanese)

    OpenAIRE

    Shinozaki, Akihiko; KUBOTA Shigehiro

    2011-01-01

    The purpose of this paper is to examine the industry-level impact of investment in information technology. For this purpose we firstly create time series data of IT investment, and consequently, the IT capital stock by 22 industries. Secondly, we estimate two types of production function models by industry. Model 1 incorporates capital deepening of IT and Model 2 incorporates IT capital ratio to non-IT capital stock. This analysis reveals that IT capital stock significantly effected the econo...

  17. 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...

  18. 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...... the operation of the system. The reason for this is the significant savings on all impacts categories from energy substitution. The study also found that the resource consumption for the capital goods is not negligible when assessing the life cycle of an incineration plant....

  19. 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.

  20. IS BALANCE AMONGHUMAN, FINANCIAL ANDENVIRONMENTAL CAPITAL POSSIBLE IN INDUSTRIES?

    Directory of Open Access Journals (Sweden)

    Maria Lúcia Gili Massi

    2014-09-01

    Full Text Available The problems of the environment, their impact on health and wellness of people, the regulations and the increasingly demanding positioning of consumers led industries to adopt new attitudes in relation to environmental issues. The literature has shown that there is much to be done. The innovations practiced in environmental controls (on outputs, process and administrative management have been translated into a source of profit. It demonstrates that investing in human capital makes people more competent for strategic entrepreneurship, innovation and production, consequently, affecting the longevity of the company and the growth of its economic and financial capital. This study aims to verify if the innovation can balance human, financial and environmental capital and it is justified mainly for those industries worried with the environment. The literature review has proved that innovation is a balance marker between human, financial and environmental capital when industries become aware of their environmental responsibility.

  1. 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.

  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. China's Industrial Production,Labor,Capital and Energy Substitution Analysis%中国工业生产的劳动、资本和能源的替代分析

    Institute of Scientific and Technical Information of China (English)

    吴力波

    2011-01-01

    The empirical methods of Chinese industrial production sector labor,capital and energy substitution and complementary relationship between the analyzed.Research to go beyond the number of forms of cost function as the starting point,the partial elasticity%用实证的方法对中国工业生产部门劳动、资本和能源之间的替代与互补关系进行了分析。研究工作以超越对数形式的成本函数为出发点,以局部替代弹性、交叉价格弹性和相对替代弹性为工具,结合1986年—2006年间的年度劳动、资本和能源价格的有关数据,对劳动或资本价格的下降所导致的能源使用比例下降效果进行了计算。计算结果表明:放开能源市场、容许能源价格按照市场供求关系上浮,是降低经济结构中能源消耗的一条可行路径;虽然下降幅度相当有限,但是资本或劳动价格的下降都可以减少能源使用比例,其中能源对劳动的替代程度要高于能源对资本

  4. Intellectual capital: Evidence from banking industry

    Directory of Open Access Journals (Sweden)

    Somayeh Boostani

    2014-09-01

    Full Text Available This paper investigates different components on intellectual capital including human capital, structural capital and customer capital in banking industry in city of Salmas, Iran. The study uses the questionnaire developed by Bontis (1998 [Bontis, N. (1998. Intellectual capital: an exploratory study that develops measures and models. Management Decision, 36(2, 63-76.] to measure the effects of human capital. The questionnaire consists of 42 questions and all of them are designed in Likert scale. Cronbach alphas for human capital, structural capital and relationship capital were calculated as 0.79, 0.76 and 0.72, respectively. The implementation of Kolmogorov-Smirnov test has indicated that the data were normally distributed. Using t-student test, the study determined that while management team did not pay enough attention on human capital, there were some statistically significant evidence that social and relationship capitals gained good attention.

  5. Social capital in engineering education

    Science.gov (United States)

    Brown, Shane

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

  6. Capitalism, Socialism and Public Choice

    Directory of Open Access Journals (Sweden)

    Adrián Osvaldo Ravier

    2010-10-01

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

  7. Capital humain, mobilité du capital et commerce international

    OpenAIRE

    Pierre VILLA

    1998-01-01

    The outsourcing of activities have been taking a peculiar shape recently. Human capital has remote control of the factories which are produced according to the local technology, and it defines the home technology in which it commits these factories and is committed itself. We introduce this idea in a hierarchical model of international trade with two countries, three factors and two final goods: the traditional one produced with labour and capital and the modern one produced with a non traded...

  8. Conventional capital, criminal capital, and criminal careers in drug trafficking

    OpenAIRE

    Wang, Wei

    2013-01-01

    Although the criminal career paradigm has explored various crime types, little effort has been conducted to systematically examine the pattern of drug trafficking careers. Ethnographic studies on drug trafficking have proposed that different forms of capital have an impact on the patterns of drug trafficking careers. The effects of conventional and criminal capital, however, have been the subject of much less empirical attention. Drawing from information on the criminal careers of 182 incarce...

  9. Internal capital markets and capital structure: bank versus internal debt.

    OpenAIRE

    Dewaelheyns, Nico; Van Hulle, Cynthia

    2007-01-01

    Recent empirical evidence has shown that internal capital markets within multinational corporations are used to reduce overall financing costs by optimizing the mix of internal and external debt of affiliates in different countries. We show that this cost saving use of internal capital markets is not limited to multinationals, but that domestic business groups actively optimize the internal/external debt mix across their subsidiaries as well. We use both subsidiary and group level financial s...

  10. Sobre o conceito de "capital humano" On the concept of "human capital"

    Directory of Open Access Journals (Sweden)

    Vanilda Paiva

    2001-07-01

    Full Text Available O artigo aborda a retomada do conceito de capital humano nas últimas décadas no contexto da hegemonia de organismos multilaterais mais diretamente vinculados ao pensamento e aos interesses norte-americanos na área educacional, e de demandas que resultam da reestruturação produtiva e sociocultural na Nova Era Capitalista. Ressalta a amplitude das noções metafóricas dele derivadas (Bourdieu e outros e indica o trecho dos Grundrisse em que Marx refere-se ao homem como sendo o próprio capital fixo criado pelo desenvolvimento de suas capacidades no tempo livre.The article treats the retaking of the concept of human capital in recent decades in the context of the hegemony of the multilateral organizations more directly linked to the North American thinking and interests in the educational area and the demands which have resulted from the productive, social and cultural restructuring of the New Age of Capitalism. It highlights the breadth of the metaphorical notions derived from it (Bourdieu and others and cites the excerpt from the Grundrisse in which Marx refers to humans as fixed assets created by the development of their abilities in their free time.

  11. 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.

  12. Taxes and Venture Capital Support

    DEFF Research Database (Denmark)

    Keuschnigg, Christian; Nielsen, Søren Bo

    2003-01-01

    '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......-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......In this paper we set up a model of start-up finance under double moral hazard.Entrepreneurs lack own resources and business experience to develop their ideas.Venture capitalists can provide start-up finance and commercial support. The effortput forth by either agent contributes to the firm...

  13. An Analysis of Capital Control and Long Memory Effects in Bursa Malaysia Stock Exchange

    OpenAIRE

    Feng, Weishan

    2006-01-01

    On 1 September 1998, the Malaysian government imposed capital control to recover its economy from Asian financial crisis. This study examined the effect of capital control on Bursa Malaysia Main Board indices. It found the indices reacted quickly to reflect the effect of capital control announcement. The ARFIMA (p, d, q) model then was employed to examine the long memory effects in all indices during five different periods. It is found that long memory existed in Consumer Products Index, and ...

  14. The Market for Used Capital: Endogenous Irreversibility and Reallocation over the Business Cycle

    OpenAIRE

    Andrea Lanteri

    2013-01-01

    This paper explains the procyclicality of capital reallocation documented by Eisfeldt and Rampini (2006) and Cui (2012) by endogenising the resale price of capital in a dynamic general equilibrium model with heterogeneous firms hit by aggregate and idiosyncratic productivity shocks. I build a simple theory of endogenous investment irreversibility by assuming that used investment goods are imperfect substitutes for newly produced ones because of firm-level capital specificity. This creates a d...

  15. Human Knowledge and a Commonsensical Measure of Human Capital: A Proposal

    OpenAIRE

    Amavilah, Voxi Heinrich

    2014-01-01

    Existing literature demonstrates clearly that knowledge is the sum of common knowledge and uncommon knowledge. Common knowledge is mostly inherited and it may or may not have scientific bases. Uncommon knowledge is mainly a product of the motions of science and technology. Scientific and technological motions depend on human capital, so that world knowledge is human capital by implication. From here analysis is not so unusual as the concept of human capital is not new. Through out history pe...

  16. Human capital and its effect on the farm business life cycle

    OpenAIRE

    Hadrich, Joleen C.

    2011-01-01

    Human capital has been identified as significant determinant of farm size growth. However, there are numerous measures for human capital. Traditional measures include age, experience, and education of the principal operator and a management measure. This study identifies three types of management capabilities: production, financial, and human resource, as human capital measures. Farm size growth is estimated over a 15 year time period, 1994-2009. Results indicate that age of principal operato...

  17. Does Working Capital Management Matter in Dividend Policy Decision? Empirical Evidence from Nigeria

    OpenAIRE

    Adesina Olugoke Oladipupo; Peter Okoeguale Ibadin

    2013-01-01

    This study examines the relationship between dividend payout ratio and working capital management and the effect of firm¡¯s working capital management practice on its dividend payout ratio. The working capital management is measured by the net trade cycle, current ratio and debt ratio. The data used in this study were obtained from twelve manufacturing companies quoted on the Nigeria Stock Exchange between 2002 and 2006. The data wer analysed using the Pearson product moment correlation techn...

  18. Oligopoly banking and capital accumulation

    OpenAIRE

    Nicola Cetorelli; Pietro F. Peretto

    2000-01-01

    We develop a dynamic general equilibrium model of capital accumulation where credit is intermediated by banks operating in a Cournot oligopoly. The number of banks affects capital accumulation through two channels. First, it affects the quantity of credit available to entrepreneurs. Second, it affects banks' decisions to collect costly information about entrepreneurs, and thus determines the efficiency of the credit market. We show that under plausible conditions, the market structure that ma...

  19. 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.

  20. 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,

  1. Linguistic Capitalism and Algorithmic Mediation

    OpenAIRE

    Kaplan, Frédéric

    2014-01-01

    Google’s highly successful business model is based on selling words that appear in search queries. Organizing several million auctions per minute, the company has created the first global linguistic market and demonstrated that linguistic capitalism is a lucrative business domain, one in which billions of dollars can be realized per year. Google’s services need to be interpreted from this perspective. This article argues that linguistic capitalism implies not an economy of attention but an ec...

  2. THE IMPORTANCE OF VENTURE CAPITAL

    Directory of Open Access Journals (Sweden)

    IRINA ANGHEL-ENESCU

    2013-05-01

    Full Text Available Created in the United States of America, Venture Capital is an asset class which attracted recently the attention of the policy makers all over the world. But the concept is still not clearly defined and understood. This paper attempts at introducing in the concept, its characteristics, and reviewing some of the benefits Venture Capital investments can bring at both the macroeconomic level, by looking at the correlation with the economic growth, and at the microeconomic level, for the portfolio companies.

  3. Bridges in social capital: A review of the definitions and the social capital of social capital researchers

    OpenAIRE

    Akcomak, Semih

    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...

  4. Sand in the Wheels of Capitalism

    DEFF Research Database (Denmark)

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

    , 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...

  5. 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...

  6. 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...

  7. 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... ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is divided... or hypothecated except to the Facility. (b) The capital stock subscriptions provided for in §§...

  8. 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...

  9. Transmission line capital costs

    International Nuclear Information System (INIS)

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

  10. Client capital as a source of enterprise cost

    Directory of Open Access Journals (Sweden)

    Verba Veronika A.

    2014-01-01

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

  11. 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.

  12. 12 CFR 303.241 - Reduce or retire capital stock or capital debt instruments.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Reduce or retire capital stock or capital debt... RULES OF PRACTICE FILING PROCEDURES Other Filings § 303.241 Reduce or retire capital stock or capital... or preferred stock, or to retire any part of its capital notes or debentures pursuant to section...

  13. 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.

  14. Capital Subsidies and the Underground Economy

    DEFF Research Database (Denmark)

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

    In this paper we investigate the effects of different fiscal policies on the firm choice to produce underground. We consider a tax evading firm operating simultaneously both in the regular and in the underground economy. We suggest that such a kind of firm, referred to as moonlighting firm, is able...... 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...

  15. Toward A Reliable Cost of Capital

    OpenAIRE

    Jeremiah U. Idialu; Amos O. Arowoshegbe

    2013-01-01

    This is study is designed to provide basis for determining a reliable cost of capital. Corporate finance textbooks typically devote several chapters to the problems of capital budgeting, cash flow estimation and the determination of a firm’s cost of capital. However, it can be difficult in practice to obtain reliable estimates of the inputs required to perform capital budgeting as recommended by the textbooks. Also, the Weighted Average Cost of Capital (WACC) is commonly presented in a way th...

  16. Intellectual Capital Management in Transport Sector

    OpenAIRE

    Asta Znakovaitė; Arnoldina Pabedinskaitė

    2011-01-01

    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 intellec...

  17. Mapping Italy’s social capital

    OpenAIRE

    Fabio Sabatini

    2007-01-01

    The contribution of this paper to the social capital literature is threefold. It first develops an innovative framework for measuring social capital, which allows for quantification of five different components of the multidimensional concept of social capital. Secondly, it provides a single, synthetic measure capturing that particular configuration of social capital which the literature generally associates with positive economic outcomes. Thirdly, it maps Italian social capital endowments f...

  18. 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

  19. 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.

  20. The Influence of Company's Capital Cost on Investment Decision

    Directory of Open Access Journals (Sweden)

    Dorina Emilia TOMA

    2014-08-01

    Full Text Available This paper is aimed at highlighting the importance of the cost of capital as a discount rate of investment in making an investment decision in the ROMNAV Braila company. This study carefully puts forward the existence of four possible cases to which companies may belong: unlevered and investments to maintain the productive capacity will be made; indebted and investments to maintain the productive capacity will be made; unlevered and new investments will be undertaken and indebted and new investments will be undertaken. The results of the study show that the average cost of capital is higher when the company turns to debt; the market value of the company is higher when it is indebted and new investments will be made and the cost of capital can be used as a discount rate of the company assessment.

  1. 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. PMID:26858431

  2. 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

    2016-01-01

    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. PMID:26858431

  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. Integration brings convergence? The role of public and human capital

    OpenAIRE

    Rodriguez, Maria Jesus Delgado; Ayuso, Inmaculada Alvarez

    2004-01-01

    This work decompose labor-productivity grotwh and convergence in EU into components attributable to technological change (shifts in the European production frontier), technological catch-up (movements toward or away from the frontier) and factor accumulation (movement toward or away from the frontier). This work extends previous researchs considering public capital and human capitas as additional productive inputs and analysing its separate constribution to convergence as components of factor...

  6. 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.

  7. 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

  8. 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.

  9. 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…

  10. The interest rate and capital durability, and the importance of methodological pluralism

    NARCIS (Netherlands)

    R. van Arkel; K. Vermeylen

    2013-01-01

    Champions of sustainable growth often call for more durable production technologies with less capital depreciation. As investment in more durable capital is encouraged by lower interest rates, we investigate whether policy makers can steer the economy towards a path with low interest rates in order

  11. 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…

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

    OpenAIRE

    Sen Amartya Kumar

    1998-01-01

    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 si...

  13. Capital Account Liberalization, The Cost of Capital, and Economic Growth

    OpenAIRE

    2003-01-01

    Three things happen when emerging economies open their stock markets to foreign investors. First, the aggregate dividend yield falls by 240 basis points. Second, the growth rate of the capital stock increases by an average of 1.1 percentage points per year. Third, the growth rate of output per worker rises by 2.3 percentage points per year. Since the cost of capital falls, investment booms, and the growth rate of output per worker increases when countries liberalize the stock market, the incr...

  14. 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.

  15. Measuring Social Capital Investment: Scale Development and Examination of Links to Social Capital and Perceived Stress

    OpenAIRE

    Chen, Xinguang; Wang, Peigang; Wegner, Rhiana; Gong, Jie; FANG, XIAOYI; Kaljee, Linda

    2015-01-01

    Individuals with greater social capital have better health outcomes. Investment in social capital likely increases one’s own social capital, bearing great implications for disease prevention and health promotion. In this study, the authors developed and validated the Social Capital Investment Inventory (SCII). Direct effects of social capital investment on perceived stress, and indirect effects through social capital were examined. 397 Participants from Beijing and Wuhan, China completed surv...

  16. Companies with foreign capital on background of companies without foreign capital in kujawsko-pomorske voivodship

    OpenAIRE

    Iwona Sobczak

    2010-01-01

    This article is a trial of taking share in discussion about the importance of foreign capital for the economy of kujawsko-pomorskie voivodship through the presentation of companies with foreign capital on the background of companies without foreign capital. The aim of this paper is comparing the companies with foreign capital and companies without foreign capital from kujawsko-pomorskie voivodship according to: capital resources, employment, investment outlays and financial results.

  17. Cultural heritage: A fusion of human skill capital and social capital

    OpenAIRE

    M.N. Murthy; Sucheta Murthy

    2002-01-01

    This paper attempts to show that the cultural heritage is a capital good and it is a fusion of human skill capital and social capital. While the role of human skill capital in economic development is well known, the definition and the role of social capital has not yet clearly understood. Heritage capital consisting of performing and visual arts has public good characteristics. In addition the visual arts are subjected to cost disadvantage in the free market because of rigid input output rela...

  18. 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

  19. Social Capital in Education

    OpenAIRE

    Walukiewicz, Stanislaw; Wiktorzak, Aneta

    2011-01-01

    We consider education, and the final stage of secondary education in particular, as a number of creative processes and analyse two of them in detail: teaching knowledge/subjects (process P1) and teaching skills (process P2). In part 1 we describe the idea of Virtual Production Line (VPL), introduced by Walukiewicz in 2006 as an extension of Classical Production Line (CPL), an epitome of our perception of Henry Ford’s assembly line. Teachers connected by modern ICT network (in most cases i...

  20. 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。

  1. CAPITALISM IN ILLUSION AND DELUSION

    Directory of Open Access Journals (Sweden)

    DORU CÎRNU

    2011-12-01

    Full Text Available The current crisis seems to shake the foundations of contemporary society as a whole and generated increasingly more opinions that show the capitalist society has begun and continues to lose ground. This is because capitalism has changed something inside so deeply that eternal truths of capitalism – economic growth, full employment, financial stability – seem to have crashed like the New York twin towers. Beyond all the shortcomings, quite a lot in numbers, known and recognized, the world and those who analyze it agree that , at least so far, has not been invented a better mechanism to obstruct and retain tyranny and so it is possible to consider the evolution of capitalism only in and through democracy.

  2. 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.

  3. Conceptualizing Intellectual Capital as Language Game and Power

    DEFF Research Database (Denmark)

    Jørgensen, Kenneth Mølbjerg

    2005-01-01

    Knowledge is deemed to be the increasingly important factor of production in creating economic and social value. Intellectual capital (IC) has emerged as a key concept encompassing this development. As such IC can be viewed as knowledge about knowledge, knowledge creation and how such processes...

  4. 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…

  5. Capital humano y capacidad humana

    OpenAIRE

    Sen, Amartya Kumar

    2010-01-01

    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 si...

  6. 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.

  7. 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.

  8. Gendered Capital: Emotional Capital and Mothers' Care Work in Education

    Science.gov (United States)

    O'Brien, Maeve

    2008-01-01

    This paper is concerned with the inequalities experienced by mothers in the performance of educational care work for their children. It is argued that the caring work carried out by mothers at transfer to second-level schooling is shaped by their ability to activate the significant resource of emotional capital; a gendered resource involving…

  9. Capital depreciation and waste accumulation in capital-resource economies

    OpenAIRE

    Yamaguchi, Rintaro; Ueta, Kazuhiro

    2010-01-01

    In this note, we investigate how the depreciation of a manufactured stock and the related accumulation of a waste stock can alter the optimal path of the capital-resource economy. It is shown that the optimal consumption path is aected by how the disuse pattern of the manufactured stock in question is distributed, specifically with forward-looking terms.

  10. Natural capital in ecology and economics: an overview.

    Science.gov (United States)

    Fenech, Adam; Foster, Jay; Hamilton, Kirk; Hansell, Roger

    2003-01-01

    The Brundtland Commission report, Our Common Future, defined sustainable development as development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Although the idea of sustainable development has been widely accepted, it has proved difficult to identify and implement policies and practices that promote sustainable economic growth. Some economists, environmental scientists and policy analysts believe that they can transform the consensus about sustainability into manageable practices. They propose to accomplish this feat with a set of new ideas about the relationships between the economy and the environment offered under the banner of 'natural capital'. An ideal account of natural capital would be one or more standard measures or models that would allow the direct comparison of environmental goods, like forests, fresh water and clean air, with economic goods, like money, capital and productivity. By bringing economic science and environmental science to an objective common ground, a natural capital model has the potential to provide a concrete means of comparing the economic and ecological costs and benefits of particular policies and programmes. This paper offers a survey and analysis of several new contributions to the formation of the natural capital concept from economists, ecologists, policy analysts, biometricians, foresters and a philosopher. The paper concludes that existing microeconomic theory may be 'ungreenable', if it is not reformulated. While macroeconomic approaches to natural capital have beenmore successful, they share the limitation that ecosystems and species are valued solely in monetary terms. These problems are taken to suggest that the development of a successful natural capital model may require economic theory to be recast to include non-monetary social preferences and values.

  11. 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

  12. 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.

  13. 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

  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. Real Assets and Capital Structure

    NARCIS (Netherlands)

    M. Campello; E. Giambona

    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

  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. Teachers, Networks and Social Capital

    Science.gov (United States)

    Healey, Kaleen

    2013-01-01

    A growing body of research suggests that school leaders and policymakers should attend to the social conditions within schools that promote instructional improvement and student achievement gains. This dissertation uses theoretical and empirical work on social capital to frame three aspects of the relationships among teachers. The three studies…

  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. 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...

  20. Emerging Forms of Cultural Capital

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

    - the claims that there are forms of emotional, subcultural or national cultural capital at work - The claim about cosmopolitanism or an international orientation as a distinctive feature of the culturally privileged classes The paper responds to the first theme announced in the call for this conference...

  1. CAPITAL INVESTMENTS AND FINANCIAL PROFITABILITY

    Directory of Open Access Journals (Sweden)

    Suzana Baresa

    2016-06-01

    Full Text Available Economic life of achieving economic and financial effects of an investment opportunity presents the period in which selected investment option remains economically superior from the other alternative investment opportunity. Time period in which the investment project needs to prove its justification, presents an extremely critical factor in the profitability of the investment project, therefore, special attention must be paid to the assessment of the economic and financial time period. The aim of this study was to prove that critical factor in achieving profitability is in direct relation with economic or financial life. The results which arise from this study suggest on the fact that during analysis investor must determine financial life to achieve economic and financial effects of capital investment, because the length of the economic life does not have to match the profitability or with financial efficiency, and that is not appreciated sufficiently in practice. This paper presents examples of calculating the financial profitability of capital investment, using the residual value, ie the discounted residual value and the results of empirical studies that show the difference in preference of life effectuation of capital investment between theoreticians and practitioners in the field of capital budgeting.

  2. Social capital and community heterogeneity

    NARCIS (Netherlands)

    Coffé, Hilde R.

    2009-01-01

    Abstract Recent findings indicate that more pronounced community heterogeneity is associated with lower levels of social capital. These studies, however, concentrate on specific aspects in which people differ (such as income inequality or ethnic diversity). In the present paper, we introduce the num

  3. 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...

  4. Emerging Forms of Cultural Capital

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

    2013-01-01

    This paper takes stock of recent research on patterns of cultural engagement in various European nations, with specific reference to British and Danish research. It argues that Bourdieu's original theorisation of cultural capital in ‘Distinction’ needs to be significantly updated to register the ...

  5. 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)

  6. Social Capital and Savings Behaviour

    DEFF Research Database (Denmark)

    Newman, Carol; Tarp, Finn; Van Den Broeck, Katleen

    We explore the extent to which social capital can play a role in imparting information about the returns to saving where potential knowledge gaps and mistrust exists. Using data from Vietnam we find strong evidence to support the hypothesis that information transmitted via reputable social...

  7. 76 FR 74631 - Capital Plans

    Science.gov (United States)

    2011-12-01

    ....4 percentage points and the average peak- to-trough ] decline in GDP was 2.2 percent; the stress... assets. \\1\\ 76 FR 35351 (June 17, 2011). \\2\\ The amendments to Regulation Y are codified at 12 CFR 225.8... (Pillar 2) Related to the Implementation of the Basel II Advanced Capital Framework, 73 FR 44620 (July...

  8. 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.

  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. Social Capital and People with Learning Difficulties.

    Science.gov (United States)

    Riddell, Sheila; Baron, Stephen; Wilson, Alastair

    1999-01-01

    Outlines social capital theories in functionalist and Marxist traditions and their implications for people with learning difficulties. Identifies multiple factors influencing their ability to access social capital, including ability/inability to conform to social norms and economic inequities. (SK)

  12. 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.

  13. Capital Architecture: Situating symbolism parallel to architectural methods and technology

    Science.gov (United States)

    Daoud, Bassam

    Capital Architecture is a symbol of a nation's global presence and the cultural and social focal point of its inhabitants. Since the advent of High-Modernism in Western cities, and subsequently decolonised capitals, civic architecture no longer seems to be strictly grounded in the philosophy that national buildings shape the legacy of government and the way a nation is regarded through its built environment. Amidst an exceedingly globalized architectural practice and with the growing concern of key heritage foundations over the shortcomings of international modernism in representing its immediate socio-cultural context, the contextualization of public architecture within its sociological, cultural and economic framework in capital cities became the key denominator of this thesis. Civic architecture in capital cities is essential to confront the challenges of symbolizing a nation and demonstrating the legitimacy of the government'. In today's dominantly secular Western societies, governmental architecture, especially where the seat of political power lies, is the ultimate form of architectural expression in conveying a sense of identity and underlining a nation's status. Departing with these convictions, this thesis investigates the embodied symbolic power, the representative capacity, and the inherent permanence in contemporary architecture, and in its modes of production. Through a vast study on Modern architectural ideals and heritage -- in parallel to methodologies -- the thesis stimulates the future of large scale governmental building practices and aims to identify and index the key constituents that may respond to the lack representation in civic architecture in capital cities.

  14. The Affects of Social Capital to the Peach Farmers' Production Technical Efficiency and Countermeasures---Based on the survey of Tongchuan area in Shaanxi province%社会资本对桃农生产技术效率的影响及对策研究∗--基于陕西省铜川市桃业的调查

    Institute of Scientific and Technical Information of China (English)

    徐家鹏; 张琛; 徐拓远

    2015-01-01

    利用铜川地区桃农调研数据,构建随机前沿生产函数模型,将社会资本各维度加入技术效率损失项,测算桃农生产技术效率水平,分析社会资本对桃农生产技术效率的影响。结果表明:桃农的平均生产技术效率为79.38%,存在着一定程度的技术无效率;在社会资本各维度中,关系网络,集体行动以及信息交流的改善能够显著提高桃农生产技术效率,而干群关系、信任与团结对桃农生产技术效率的影响未通过显著性检验。因此,改善桃农关系网络,集体行动,信息交流状况,是提高桃农生产技术效率的有效途径。%Using the survey data of peach farmers in Tongchuan area, establish the stochastic frontier production function model with each dimension of social capital joining the technical efficiency loss, calculate planting peach farmers’ production technical efficiency level and analyse the influence of so-cial capital on the technical efficiency of planting peach farmers’ production. The results show that av-erage technical efficiency of planting peach farmers’ production is 79. 38%, with a certain degree of technical inefficiency. In all dimension of social capital, the relationship between network, collective action and information communication can significantly improve the technical efficiency of planting peach farmers’ production, and the relationship between the cadres and masses improve the technical efficiency of planting peach farmers’ production but no significant, trust and unity is not significant on the technical efficiency of peach farmers’ production with the negative effect. Therefore, change rela-tionship between network, collective action and information communication are the effective way to im-prove he technical efficiency of planting peach farmers’ production.

  15. Predicting the volume of investments into capital assets in the industry of Kyrgyz Republic

    Directory of Open Access Journals (Sweden)

    Tatyana Vladimirovna Palagina

    2015-03-01

    Full Text Available Objective to define the demand and predict the required volume of investments into capital assets of industrial sector of economy in Kyrgyz Republic. Results the article analyzes the dynamics of renewing the capital assets in the industrial sector of economy in Kyrgyzstan in the recent decade. Basing on the analysis of dynamics and actual condition of capital assets the author predicts the volume of investments into the capital assets taking into account the hypothesis on preserving the existing trends of renewing the capital assets.nbsp The influence is revealed of the level of deterioration of capital assets on the amount of investments expressed as the ratio of investment volume to the production volume. It is defined that reaching the predicted volumes of investment will keep the deterioration level at not more than 43. Scientific novelty for the first time the article predicts the investment volume basing on the balance model and extrapolation of mean values of renewal and retirement of capital assets in the recent decade 20032012 reveals the dependence of the deterioration level and capital assets investment norm. Practical value the main conclusions of the article can be used in scientific and educational activity in practical calculations and planning capital investments. nbsp

  16. Role of Livelihood Capital in Reducing Climatic Vulnerability: Insights of Australian Wheat from 1990-2010.

    Directory of Open Access Journals (Sweden)

    Jianjun Huai

    Full Text Available In many agricultural countries, development of rural livelihood through increasing capital is a major regional policy to adapt to climate change. However, the role of livelihood capital in reducing climatic vulnerability is uncertain. This study assesses vulnerability and identifies the effects of common capital indicators on it, using Australian wheat as an example. We calculate exposure (a climate index and sensitivity (a wheat failure index to measure vulnerability and classify the resilient and sensitive cases, and express adaptive capacity through financial, human, natural, physical, and social capital indicators for 12 regions in the Australian wheat-sheep production zone from 1991-2010. We identify relationships between 12 indicators of five types of capital and vulnerability with t-tests and six logistic models considering the capital indicator itself, its first-order lag and its square as dependent variables to test the hypothesis that a high level of each capital metric results in low vulnerability. Through differing adaptive capacities between resilient and sensitive groups, we found that only four of the 12 (e.g., the access to finance, cash income level, total crop gross revenues, and family share of farm income relate to vulnerability, which challenges the hypothesis that increasing capital reduces vulnerability. We conclude that further empirical reexaminations are required to test the relationships between capital measures and vulnerability under the sustainable livelihood framework (SLF.

  17. Role of Livelihood Capital in Reducing Climatic Vulnerability: Insights of Australian Wheat from 1990-2010.

    Science.gov (United States)

    Huai, Jianjun

    2016-01-01

    In many agricultural countries, development of rural livelihood through increasing capital is a major regional policy to adapt to climate change. However, the role of livelihood capital in reducing climatic vulnerability is uncertain. This study assesses vulnerability and identifies the effects of common capital indicators on it, using Australian wheat as an example. We calculate exposure (a climate index) and sensitivity (a wheat failure index) to measure vulnerability and classify the resilient and sensitive cases, and express adaptive capacity through financial, human, natural, physical, and social capital indicators for 12 regions in the Australian wheat-sheep production zone from 1991-2010. We identify relationships between 12 indicators of five types of capital and vulnerability with t-tests and six logistic models considering the capital indicator itself, its first-order lag and its square as dependent variables to test the hypothesis that a high level of each capital metric results in low vulnerability. Through differing adaptive capacities between resilient and sensitive groups, we found that only four of the 12 (e.g., the access to finance, cash income level, total crop gross revenues, and family share of farm income) relate to vulnerability, which challenges the hypothesis that increasing capital reduces vulnerability. We conclude that further empirical reexaminations are required to test the relationships between capital measures and vulnerability under the sustainable livelihood framework (SLF). PMID:27022910

  18. International working capital practices of Ghanaian firms

    OpenAIRE

    J. Abor

    2005-01-01

    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 int...

  19. WORKING CAPITAL MANAGEMENT IN THE SUPPLY CHAIN

    OpenAIRE

    Marijan Karic; Maja Karic

    2012-01-01

    Working (operating) capital available for use is an important factor in the success of the business firm and the whole supply chain. Effective working capital management helps in balancing usage of capital, not only for the firm, but for the suppliers and the consumers too, that is in the best interests of all parties in the supply chain. The effects of such working capital management are particularly important for trading businesses. In this paper we discuss issues of the cash conversion cyc...

  20. Taxation and Venture Capital Backed Entrepreneurship

    OpenAIRE

    Keuschnigg, Christian; Nielsen, Søren Bo

    2004-01-01

    In recent years, venture capital has increasingly become a factor in the financing of new firms. We examine how the value of mature firms determines the incentives of entrepreneurs to start up new firms and of venture capitalists to finance and advise them. We examine how capital gains taxes as well as subsidies to start-up costs of new firms affect venture capital-backed entrepreneurship. We also argue that dividend and capital gains taxes on mature firms have important con...

  1. Domestic Capital Mobility: A Panel Data Approach

    OpenAIRE

    Nagayasu, Jun

    2010-01-01

    This paper analyzes capital mobility within Japan based on the consumption-based correlation method developed by Obstfeld (1994). This thoery suggests that consumption in one region is closely related to that in other regions if the capital market is open. We test this theoretical implication in the panel data context using the dynamic factor model which enables us to estimate unobservable common factors. Then we provide evidence of perfect capital mobility and capital integration having adva...

  2. Intangible Capital and International Income Differences

    OpenAIRE

    Aamir Rafique Hashmi

    2008-01-01

    I add intangible capital to a variant of the neoclassical growth model and study the implications for cross-country income differences. I calibrate the parameters associated with intangible capital by using new estimates of investment in intangibles by Corrado et al. (2006). When intangible capital is added to the model, the TFP elasticity of output increases from 2.14 to 2.64. This finding implies that the addition of intangible capital increases the ability of the neoclassical growth model ...

  3. Decentralization, Social Capital and Regional Convergence

    OpenAIRE

    Mauro, Luciano; Pigliaru, Francesco

    2013-01-01

    By studying the interaction between social capital and decentralization, we show that political decentralization can be a source of divergence across heterogeneous regions. In particular, we claim that since the local endowments of social capital display their effect on the economy mainly through the functioning of local institutions, decentralization enhances (hampers) growth wherever social capital is high (low). We define our hypothesis within a growth model with public capital, and use th...

  4. Community Development and Local Social Capital

    OpenAIRE

    Jordan, Jeffrey L.; Munasib, Abdul B.A.

    2007-01-01

    While a substantial amount of research has been devoted to showing what social capital does, research explaining social capital itself lags behind. In this paper we examine whether local economic development can explain the variation in social capital across various geographical clusters in the state of Georgia. The findings show that even after accounting for various demographic and economic characteristics, the HDI explains the variation in a number of social capital levels (especially thos...

  5. Community Development and Local Social Capital

    OpenAIRE

    Jordan, Jeffrey L.; Anil, Bulent; Munasib, Abdul B.A.

    2010-01-01

    While a substantial amount of research has been devoted to showing what social capital does, research explaining social capital itself lags behind. The literature has a long tradition of examining the effect of social capital on local economic growth and development. In this paper we examine whether local economic development can explain the variation in social capital across various geographical clusters in the state of Georgia. We begin by devising a measurement tool, a Human Development In...

  6. Capital structure dynamics in private business groups

    OpenAIRE

    Dewaelheyns, Nico; Van Hulle, Cynthia

    2010-01-01

    Dynamic models of capital structure assume that companies trade-off the advantages of a leverage adjustment to its costs. Private companies are expected to have more restricted access to capital markets and are therefore likely to adjust their capital structure less frequently than public ones. However, private companies that are part of a business group have access to both internal and external capital markets and may face lower adjustment costs. We find significant differences in the levera...

  7. A Survey of Venture Capital Research

    OpenAIRE

    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 organizational structures of venture capital firms, and the relationship between general and limited partners. It discusses the work on the returns to venture capital investments. It also examines pu...

  8. - SALARIOS REGIONALES Y DOTACIONES DE CAPITAL HUMANO

    OpenAIRE

    Lorenzo Serrano Martínez

    1999-01-01

    This paper analyses the regional wages in Spain and tests their relationship with the different regional human capital endowments, using an approach that takes into account the possible measurement error in human capital indicators. The results indicate that, when allowing for the possibility of regional differences in the utility provided by an equal wage, wages show a unitary elasticity respect to human capital. Therefore, with such a similar regional utility by unit of human capital, there...

  9. The Determinants of Capital Buffers in CEECs

    OpenAIRE

    D'Arack, Francesco; Levasseur, Sandrine

    2007-01-01

    Banking capital ratios show a steadily decline in almost Central and Eastern European Countries (CEECs) since 2001, despite unchanged capital adequacy rules. Using a dynamic panel-analysis based on country-level data for CEECs, we empirically assess the determinants of capital buffers. Main results are as follows. First, there are large and significant adjustment costs in raising capital. Second, banks behave pro-cyclically, depleting their buffers in upturns to benefit from unanticipated inv...

  10. Valuing the Treasury's Capital Assistance Program

    OpenAIRE

    Glasserman, Paul; Wang, Zhenyu

    2011-01-01

    The Capital Assistance Program (CAP) was created by the U.S. government in February 2009 to provide backup capital to large financial institutions unable to raise sufficient capital from private investors. Under the terms of the CAP, a participating bank receives contingent capital by issuing preferred shares to the Treasury combined with embedded options for both parties: The bank gets the option to redeem the shares or convert them to common equity, with conversion mandatory after seven yea...

  11. Social capital, economics and political economy

    OpenAIRE

    Guglielmo Barone; Guido de Blasio; Paolo Sestito

    2014-01-01

    The volume collects the essays presented at the conference "Social capital, economics and political economy" held in Rome on 27 June 2014. The first session analyzes definition and measurement issues about social capital. The second and third sessions examine its determinants and economic effects, respectively. The fourth session is devoted to the relationship between social capital and the public sector while the last session concentrates on the role of social capital in credit markets.

  12. 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:

  13. Refugee community organisations: a social capital analysis

    OpenAIRE

    Kellow, Alexa

    2011-01-01

    This thesis considers how refugee-led community organisations generate social capital for their service users. The concept of social capital has become popular in policy debates in recent years, and previous research has attributed social capital creation for their service users to refugee community organisations (RCOs). This research aimed to analyse the process by which social capital is created by refugee community organisations, and what this means for the members of these organisations i...

  14. Human capital and regional growth in Finland

    OpenAIRE

    Pelkonen, Lea; Ylonen, Sakari

    1998-01-01

    Recent investigations of regional growth have paid a great attention to convergence of per-capita income. These studies have shown the human capital to be a significant factor in addition to labour force, capital and technical progress when explaining the economic growth. This paper examines the convergence, and in particular the impact of human capital on regional growth in Finland. We estimate a standard neoclassical growth model extended by a human capital accumulation. The regional growth...

  15. 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…

  16. 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...... aversion, do not seem to influence entrepreneurs' intended level of export...

  17. 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

  18. Specialization and Human Capital in Search Equilibrium

    OpenAIRE

    Mukoyama, Toshihiko; Şahin, Ayşegül

    2005-01-01

    This paper constructs a general equilibrium search-matching model with heterogeneous workers. Workers choose whether to invest in general human capital or specific human capital when they enter the labor market. We analyze how unemployment benefits affect the choice of the type of human capital investment.

  19. 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

  20. 47 CFR 32.2681 - Capital leases.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Capital leases. 32.2681 Section 32.2681... FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.2681 Capital leases. (a) This account shall include all property acquired under a capital lease. A lease qualifies as a...