WorldWideScience

Sample records for capital

  1. 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

  2. Social capital

    OpenAIRE

    Landhäußer, Sandra; Ziegler, Holger

    2003-01-01

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

  3. Capital y capital social

    OpenAIRE

    Bolívar Espinoza, Gardy Augusto; Elizalde, Antonio

    2012-01-01

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

  4. Capital y capital social

    OpenAIRE

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

    2011-01-01

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

  5. 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.

  6. Allergy Capitals

    Science.gov (United States)

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

  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. Understanding Capitalism

    DEFF Research Database (Denmark)

    du Gay, Paul; Morgan, Glenn

    2013-01-01

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

  9. DOSTOYEVSKI'S "CAPITAL"

    OpenAIRE

    GUNAL, E. Zeynep

    2012-01-01

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

  10. 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.

  11. Capital Unchained

    DEFF Research Database (Denmark)

    Bryan, Dick; Rafferty, Michael; Wigan, Duncan

    2017-01-01

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

  12. 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...

  13. 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

  14. 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

  15. Flexible Capitalism

    DEFF Research Database (Denmark)

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

  16. O outro capital The other capital

    Directory of Open Access Journals (Sweden)

    Vinicius Prates da Fonseca Bueno

    2012-01-01

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

  17. Triads of capital

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase

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

  18. Theorizing Emotional Capital

    NARCIS (Netherlands)

    Cottingham, M.D.

    2016-01-01

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

  19. 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.

  20. 75 FR 4635 - Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Regulatory...

    Science.gov (United States)

    2010-01-28

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

  1. 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 ...

  2. Modern Human Capital Management

    OpenAIRE

    Feldberger, Madita

    2008-01-01

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

  3. 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....

  4. 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....

  5. Electronic Capitalization Asset Form

    Data.gov (United States)

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

  6. Measuring Social Capital

    DEFF Research Database (Denmark)

    Svendsen, Gert Tinggaard; Bjørnskov, Christian

    2007-01-01

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

  7. Venture capital and internationalization

    NARCIS (Netherlands)

    Schertler, Andrea; Tykvova, Tereza

    2011-01-01

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

  8. Social Capital in Asia

    DEFF Research Database (Denmark)

    Li, Peter Ping

    2014-01-01

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

  9. Aggregating economic capital

    NARCIS (Netherlands)

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

    2005-01-01

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

  10. Human Capital and Retirement

    NARCIS (Netherlands)

    P. Alders

    1999-01-01

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

  11. Linguistic Capital Pays Dividends

    Science.gov (United States)

    Linse, Caroline

    2013-01-01

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

  12. 76 FR 42768 - Capital Distribution

    Science.gov (United States)

    2011-07-19

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

  13. Cultural Capital Today

    DEFF Research Database (Denmark)

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

    2008-01-01

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

  14. 77 FR 52977 - Regulatory Capital Rules: Advanced Approaches Risk-Based Capital Rule; Market Risk Capital Rule

    Science.gov (United States)

    2012-08-30

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

  15. Cultural Capital in Context:

    DEFF Research Database (Denmark)

    Andersen, Ida Gran; Jæger, Mads Meier

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

  16. 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....

  17. The Genesis of Capitalism

    DEFF Research Database (Denmark)

    Li, Xing

    2004-01-01

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

  18. Unsustainable growth, unsustainable capitalism

    DEFF Research Database (Denmark)

    Næss, Petter

    2006-01-01

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

  19. Piketty’s Capital

    DEFF Research Database (Denmark)

    Larsen, Øjvind

    2016-01-01

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

  20. 76 FR 35351 - Capital Plans

    Science.gov (United States)

    2011-06-17

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

  1. The Performance of Intellectual Capital

    DEFF Research Database (Denmark)

    Murthy, Vijaya; Mouritsen, Jan

    2011-01-01

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

  2. 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...

  3. 78 FR 62417 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-10-22

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

  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. 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.

  6. ANCAMAN CAPITAL INFLOW

    Directory of Open Access Journals (Sweden)

    Teguh Sihono

    2011-01-01

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

  7. 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...

  8. Thinking strategically about capitation.

    Science.gov (United States)

    Boland, P

    1997-05-01

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

  9. 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.

  10. 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...

  11. Contabilidad del capital intelectual

    OpenAIRE

    2007-01-01

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

  12. Thin Capitalization Rules and Multinational Firm Capital Structure

    NARCIS (Netherlands)

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

    2014-01-01

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

  13. Human Capital and Optimal Positive Taxation of Capital Income

    NARCIS (Netherlands)

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

    2005-01-01

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

  14. Cooperative social capital

    Directory of Open Access Journals (Sweden)

    Oscar Acera Manero

    2005-12-01

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

  15. On Representative Social Capital

    NARCIS (Netherlands)

    Bellemare, C.; Kroger, S.

    2004-01-01

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

  16. 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

  17. 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.

  18. 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...

  19. 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…

  20. Corruption and Social Capital

    DEFF Research Database (Denmark)

    Bjørnskov, Christian

    2003-01-01

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

  1. 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...

  2. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

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

    2012-01-01

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

  3. 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.

  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. 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...

  6. 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

  7. Capitalism: A System of Conspiracy

    OpenAIRE

    Das, Subhendu

    2010-01-01

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

  8. Social capital and sports clubs

    OpenAIRE

    Tacon, Richard

    2014-01-01

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

  9. MODELLING SOCIAL CAPITAL AND GROWTH

    OpenAIRE

    Chou, Yuan K.

    2002-01-01

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

  10. 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.

  11. 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...

  12. 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

  13. 75 FR 6151 - Minimum Capital

    Science.gov (United States)

    2010-02-08

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

  14. 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.

  15. 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...

  16. 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.

  17. Governing Global Capital

    DEFF Research Database (Denmark)

    Harrington, Brooke

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

  18. 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.

  19. 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...

  20. 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....

  1. Social capital and psychological distress.

    Science.gov (United States)

    Song, Lijun

    2011-12-01

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

  2. 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.

  3. CSR, SMEs and Social Capital

    DEFF Research Database (Denmark)

    Murillo, David; Vallentin, Steen

    2012-01-01

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

  4. Microfoundations of Social Capital

    DEFF Research Database (Denmark)

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

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

  5. 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.

  6. Taxes and Venture Capital Support

    DEFF Research Database (Denmark)

    Keuschnigg, Christian; Nielsen, Søren Bo

    2003-01-01

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

  7. 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...

  8. 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?

  9. 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

  10. 12 CFR 565.4 - Capital measures and capital category definitions.

    Science.gov (United States)

    2010-01-01

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

  11. 12 CFR 325.103 - Capital measures and capital category definitions.

    Science.gov (United States)

    2010-01-01

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

  12. 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...

  13. 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.

  14. 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

  15. 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…

  16. Innovation and venture capital exits

    NARCIS (Netherlands)

    Schwienbacher, A.

    2008-01-01

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

  17. Business model and Intellectual Capital

    DEFF Research Database (Denmark)

    Lindgren, Peter; Saghaug, Kristin Margrethe

    2012-01-01

    When practicing business model (BM) innovation releasing intellectual capital (IC) strategically from SME´s BMs through the innovation process can be extremely difficult and complex to carry out especially to small and medium size enterprises (SME). There are so many opportunities and resources...... in SME´s Intellectual Capital – but how to release them?...

  18. 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

  19. Capital flight and political risk

    NARCIS (Netherlands)

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

    2000-01-01

    This paper provides the first serious attempt to examine the relationship between political risk and capital flight for a large set of developing countries. The outcomes of the analysis show that in most cases political risk variables do have a statistically robust relationship to capital flight onc

  20. 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…

  1. 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…

  2. Avascular Necrosis of the Capitate

    OpenAIRE

    Bekele, Wosen; Escobedo, Eva; Allen, Robert

    2011-01-01

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

  3. 76 FR 74631 - Capital Plans

    Science.gov (United States)

    2011-12-01

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

  4. Exploring the social capital grid

    DEFF Research Database (Denmark)

    Svendsen, Gunnar Lind Haase; Patulny, Roger

    2007-01-01

    catch-all social capital concept, rather than classifying it according to the bonding/bridging distinction. Furthermore, most studies make little distinction on the basis of methodology, between qualitative and quantitative approaches to investigating social capital. These omissions need to be addressed....

  5. Cultural capital as a measurand

    Science.gov (United States)

    Taymanov, R.; Sapozhnikova, K.

    2016-11-01

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

  6. Performance systems and social capital

    DEFF Research Database (Denmark)

    Rasmussen, Grane Mikael Gregaard; Edwards, Kasper

    2014-01-01

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

  7. Sand in the Wheels of Capitalism

    DEFF Research Database (Denmark)

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

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

  8. 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....

  9. Individual social capital and survival

    DEFF Research Database (Denmark)

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

    2014-01-01

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

  10. Human capital strategy: talent management.

    Science.gov (United States)

    Nagra, Michael

    2011-01-01

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

  11. 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...

  12. 78 FR 76973 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-12-20

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

  13. National Capital Planning Commission Meeting Transcripts

    Data.gov (United States)

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

  14. 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.

  15. Solow Residuals Without Capital Stocks

    DEFF Research Database (Denmark)

    Burda, Michael C.; Severgnini, Battista

    2014-01-01

    investment expenditures: one eliminates the capital stock by direct substitution, while the other employs generalized differences of detrended data and the Malmquist index. In short samples, these measures can exhibit consistently lower root mean squared errors than the Solow–Törnqvist counterpart. Capital......We use synthetic data generated by a prototypical stochastic growth model to assess the accuracy of the Solow residual (Solow, 1957) as a measure of total factor productivity (TFP) growth when the capital stock in use is measured with error. We propose two alternative measurements based on current...

  16. Capital-imperialismo e neoliberalismo

    OpenAIRE

    Campagnaro, Yuri Gabriel

    2014-01-01

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

  17. Emerging Forms of Cultural Capital

    DEFF Research Database (Denmark)

    Prieur, Annick; Savage, Mike

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

  18. The Valuation of Organizational Capital

    Directory of Open Access Journals (Sweden)

    Fiala Roman, Borůvková Jana

    2012-12-01

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

  19. 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.

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

    OpenAIRE

    Akcomak, S.

    2009-01-01

    There has been a recent surge of interest in social economics and social capital. Articles on social capital that are published in the last five years constitute more than 60 percent of all articles on social capital. Research on social capital is now massive and spans sociology, economics, management, political science and health sciences. Despite this interest there is still not a consensus on the definition and the measurement of social capital. This paper argues that this is due to lack o...

  1. ORGANIZATIONAL CAPITAL IN ENTERPRISE ARCHITECTURE

    Directory of Open Access Journals (Sweden)

    Kirill G. Skripkin

    2016-01-01

    Full Text Available The paper describes a new approach to the description of organizational capital in enterprise architecture. This approach is focused on internal consistency of organizational mechanisms and their fit to the requirements of technologies in use and key employees. The description rests on Henry Mintzberg organizational design theory. The value of this description is demonstrated for the case of influence of Ministry of Education and Science policy on the organizational capital of the Russian university.

  2. 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.

  3. 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,

  4. Do European capital flows comove?

    OpenAIRE

    Silvio Contessi; Pierangelo DePace

    2008-01-01

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

  5. 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

  6. Mengukur Kontribusi Human Capital terhadap Tujuan Perusahaan

    Directory of Open Access Journals (Sweden)

    Brata Wibawa Djojo

    2010-10-01

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

  7. 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...

  8. 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...

  9. 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...

  10. 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.

  11. 76 FR 40407 - Sterling Capital Funds and Sterling Capital Management LLC; Notice of Application

    Science.gov (United States)

    2011-07-08

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

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

    Science.gov (United States)

    2010-01-01

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

  13. An Economic Viewpoint on Capitalism Bashing

    OpenAIRE

    Burnete Sorin

    2016-01-01

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

  14. Human Capital, Fertility, and Economic Growth

    OpenAIRE

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

    1990-01-01

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

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

    OpenAIRE

    Song, Guoxiang

    2014-01-01

    To raise the quality of regulatory capital, Basel III capital rules recognize unrealized gains and losses on all available-for-sale (AFS) securities in Common Equity Tier 1 Capital (CET1). However, by examining the correlations between U.S. GDP growth rate, interest rates and regulatory capital ratios computed using Basel III regulatory capital definition for six U.S. global systemically important banks (G-SIBs) since 2007, this chapter finds that Basel III regulatory capital will enhance the...

  16. 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

  17. 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.

  18. Health, Human Capital, and Development.

    Science.gov (United States)

    Bleakley, Hoyt

    2010-09-01

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

  19. Human capital, schooling and health.

    Science.gov (United States)

    Schultz, T Paul

    2003-06-01

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

  20. Financing Human Capital: Families & Society

    Directory of Open Access Journals (Sweden)

    Neantro Saavedra-Rivano

    2016-10-01

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

  1. El capital intelectual en Confamdi

    OpenAIRE

    Marulanda Lórez, Paulo César

    2012-01-01

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

  2. 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.

  3. LABOR AND CAPITAL: OPPOSING SYSTEMS

    Directory of Open Access Journals (Sweden)

    Adrián Sotelo Valencia

    2014-12-01

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

  4. 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.

  5. 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.

  6. 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...

  7. 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.

  8. Social Capital. Trust and Ideology

    Directory of Open Access Journals (Sweden)

    Jacek TITTENBRUN

    2013-06-01

    Full Text Available The paper offers a critical analysis of the central concept around which the popular construct of social capital is organised, i.e. trust. To this end the views of Fukuyama, the leading exponent of the said concept are considered. As a result, the concept in question is found to be ideologically charged and substantively weak in many respects.

  9. Impression management as symbolic capital

    DEFF Research Database (Denmark)

    Lueg, Klarissa; Nielsen, Camilla

    2015-01-01

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

  10. 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.

  11. Social Capital and Community Heterogeneity

    Science.gov (United States)

    Coffe, Hilde

    2009-01-01

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

  12. 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

  13. 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)

  14. 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…

  15. Real Assets and Capital Structure

    NARCIS (Netherlands)

    Campello, M.; Giambona, E.

    2013-01-01

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

  16. 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...

  17. Capital productivity and the nature of competition

    OpenAIRE

    Börsch-Supan, Axel

    1997-01-01

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

  18. 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:

  19. 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...

  20. 77 FR 52791 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Minimum Regulatory...

    Science.gov (United States)

    2012-08-30

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

  1. 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…

  2. Building Social Capital through Outdoor Education

    Science.gov (United States)

    Beames, Simon; Atencio, Matthew

    2008-01-01

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

  3. 12 CFR 615.5200 - Capital planning.

    Science.gov (United States)

    2010-01-01

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

  4. The Maastricht gigantomachy capital and its models

    NARCIS (Netherlands)

    T.A.S.M. Panhuysen

    2009-01-01

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

  5. 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…

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

    Science.gov (United States)

    Yoo, Soonhwa; Loadman, William E.

    In 1994 the Ohio State Legislature established Venture Capital to support school restructuring. The Venture Capital school initiative is a concept borrowed from the business community in which the corporate entity provides risk capital to parts of the organization to stimulate creative ideas and to provide opportunities for local entities to try…

  7. Regulatory capital requirements and bail in mechanisms

    NARCIS (Netherlands)

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

    2015-01-01

    With the introduction of the Capital Requirements Regulation (CRR) in the European Union, the qualitative requirements for bank regulatory capital have changed. These changes aim at implementing in Europe the Basel III principles for better bank capital that is able to absorb losses of banks, withou

  8. 78 FR 1991 - Major Capital Investment Projects

    Science.gov (United States)

    2013-01-09

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

  9. 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…

  10. Social capital in involuntary displacement and resettlement

    NARCIS (Netherlands)

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

    2013-01-01

    Social capital is often seen as a substitute for lack of other types of capital among poor people. Because of the recognized applicability of the social capital concept and its correlation with the different dimensions of poverty, it has been used in evaluating the adaptation and integration of invo

  11. 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

  12. 47 CFR 69.310 - Capital leases.

    Science.gov (United States)

    2010-10-01

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

  13. 47 CFR 32.4510 - Capital stock.

    Science.gov (United States)

    2010-10-01

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

  14. Measuring Social Capital Accumulation in Rural Development

    Science.gov (United States)

    Teilmann, Kasper

    2012-01-01

    Using a theoretical framework, the study proposes an index that can measure the social capital of local action group (LAG) projects. The index is founded on four indicators: number of ties, bridging social capital, recognition, and diversity, which are aggregated into one social capital index. The index has been tested in LAG-Djursland, Denmark,…

  15. Measuring Social Capital in Hamilton, Ontario

    Science.gov (United States)

    Kitchen, Peter; Williams, Allison; Simone, Dylan

    2012-01-01

    Social capital has been studied by academics for more than 20 years and within the past decade there has been an explosion of growth in research linking social capital to health. This paper investigates social capital in Hamilton, Ontario by way of a telephone survey of 1,002 households in three neighbourhood groups representing high, mixed and…

  16. Human Capital Development: A Family Objective.

    Science.gov (United States)

    Hildebrand, Verna

    1995-01-01

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

  17. Heterogeneity of Human Capital and the Return

    DEFF Research Database (Denmark)

    Madsen, Erik Strøjer

    2015-01-01

    Human capital is an important growth factor for developing and developed countries and measuring the return to education is essential in evaluating the growth impact from human capital. Most studies use the length of education measured by the years of schooling as an indicator of human capital...

  18. INSURANCE AND THE CORPORATE COST OF CAPITAL

    Directory of Open Access Journals (Sweden)

    Monika Wieczorek-Kosmala

    2012-04-01

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

  19. 12 CFR 725.5 - Capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Capital stock. 725.5 Section 725.5 Banks and Banking NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS NATIONAL CREDIT UNION ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is...

  20. 78 FR 62017 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy...

    Science.gov (United States)

    2013-10-11

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

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

    Institute of Scientific and Technical Information of China (English)

    ZHOU Shaobo; XUE Minggao

    2007-01-01

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

  2. 13 CFR 108.230 - Private Capital for NMVC Companies.

    Science.gov (United States)

    2010-01-01

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

  3. International working capital practices of Ghanaian firms

    Directory of Open Access Journals (Sweden)

    J. Abor

    2005-12-01

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

  4. Social Capital, Economic Growth and Transition Economies

    DEFF Research Database (Denmark)

    Svendsen, Gert Tinggaard

    1998-01-01

    transactions to take place without third-party enforcement. Theory and lessons from empirical evidence lead to three general recommendations for building social capital in the future: First, the state must withdraw and minimize its role in the economy so to leave room for voluntary organization and free......Summary: What does social capital mean and how can it be built? Social capital is considered as a new production factor which must be added to the conventional concepts of human and physical capital. Social capital is productive because it increases the level of trust in a society and allows more...

  5. Social capital: its constructs and survey development.

    Science.gov (United States)

    Enfield, Richard P; Nathaniel, Keith C

    2013-06-01

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

  6. Is Social Capital an Effective Smoke Condenser?

    DEFF Research Database (Denmark)

    Paldam, M.; Svendsen, Gert Tinggaard

    1999-01-01

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

  7. MAPPING EUROPEAN CAPITAL MARKETS TENDENCIES

    Directory of Open Access Journals (Sweden)

    Andreea Avadanei

    2011-01-01

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

  8. Academic Words and Academic Capitalism

    Directory of Open Access Journals (Sweden)

    Michael Billig

    2013-03-01

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

  9. 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.

  10. Capital Markets Union for Europe

    DEFF Research Database (Denmark)

    Ringe, Georg

    2015-01-01

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

  11. From Finance Capitalism to Financialization

    DEFF Research Database (Denmark)

    Hansen, Per H.

    2014-01-01

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

  12. Do Central Banks Need Capital?

    OpenAIRE

    Peter Stella

    1997-01-01

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

  13. Capitalizing R&D Expenditures

    OpenAIRE

    Diewert, Erwin; Huang, Ning

    2008-01-01

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

  14. Human Capital, Fertility and Growth

    OpenAIRE

    Galor, Oded

    2006-01-01

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

  15. Capital social en empresas familiares

    Directory of Open Access Journals (Sweden)

    Magda Jiménez

    2011-01-01

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

  16. The Opportunity Cost of Capital

    Directory of Open Access Journals (Sweden)

    Ayman Chit PhD

    2015-04-01

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

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

    Science.gov (United States)

    Scheffler, Richard M; Brown, Timothy T

    2008-10-01

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

  18. Social Capital Impact On Service Supply Chains

    Directory of Open Access Journals (Sweden)

    Sherry L. Avery

    2011-05-01

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

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

    Science.gov (United States)

    Jones, Gareth A

    2014-12-01

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

  20. Mengukur Kontribusi Human Capital terhadap Tujuan Perusahaan

    Directory of Open Access Journals (Sweden)

    Brata Wibawa Djojo

    2010-11-01

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

  1. Cultural Capital and Teaching Ability Rating

    DEFF Research Database (Denmark)

    Jæger, Mads Meier

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

  2. Global capital markets: An updated profile

    Directory of Open Access Journals (Sweden)

    Filipović Miroslava

    2007-01-01

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

  3. Changing Endogenous Development: the Territorial Capital

    Directory of Open Access Journals (Sweden)

    Balázs István Tóth

    2011-12-01

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

  4. An Economic Viewpoint on Capitalism Bashing

    Directory of Open Access Journals (Sweden)

    Burnete Sorin

    2016-12-01

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

  5. Measuring Social Capital Accumulation in Rural Development

    DEFF Research Database (Denmark)

    Teilmann, Kasper

    2012-01-01

    for pursuing development projects similar to those implemented previously and the degree of social capital. The paper concludes that there are indications that projects hosted by municipalities tend to show the most social capital, there is no connection between the amount of project financing and social......Using a theoretical framework, the study proposes an index that can measure the social capital of local action group (LAG) projects. The index is founded on four indicators: number of ties, bridging social capital, recognition, and diversity, which are aggregated into one social capital index....... The index has been tested in LAG-Djursland, Denmark, and the study further investigates whether the organisational affiliation, project financing, and LAG co-financing can explain the degree of social capital accumulation. Furthermore, the author has tested if there are connections between motivation...

  6. ANALYSIS OF THE CAPITAL MARKET IN CROATIA

    Directory of Open Access Journals (Sweden)

    Maja Buljat

    2015-12-01

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

  7. Capital intelectual: verdades e mitos

    Directory of Open Access Journals (Sweden)

    Maria Thereza Pompa Antunes

    2002-08-01

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

  8. Piketty's capital and social policy.

    Science.gov (United States)

    Piachaud, David

    2014-12-01

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

  9. Venture Capital Contracting Under Asymmetric Information

    OpenAIRE

    Jeffrey Trester

    1993-01-01

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

  10. The Positive and Negative Social Capital

    OpenAIRE

    Rohman, Arif

    2014-01-01

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

  11. Rawlsian justice and welfare-state capitalism

    OpenAIRE

    Yuen, Ho-yin; 袁浩然

    2014-01-01

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

  12. Capitalizing Central Banks: A Net Worth Approach

    OpenAIRE

    Alain Ize

    2005-01-01

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

  13. EMERGING CAPITAL MARKETS: OPPORTUNITIES AND LIMITS

    Directory of Open Access Journals (Sweden)

    FELICIA RAMONA BIRAU

    2012-05-01

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

  14. Simulated annealing algorithm for optimal capital growth

    Science.gov (United States)

    Luo, Yong; Zhu, Bo; Tang, Yong

    2014-08-01

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

  15. Social capital formation : a poverty reducing strategy?

    OpenAIRE

    Øyen, Else

    2002-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Silvije Orsag

    2014-12-01

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

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

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

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

  18. The multitudinous creativity of the contemporary capitalisms

    Directory of Open Access Journals (Sweden)

    Ionuț Bârliba

    2015-12-01

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

  19. Taxation and venture capital-backed entrepreneurship

    DEFF Research Database (Denmark)

    Keuschnigg, Christian; Nielsen, Søren Bo

    2003-01-01

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

  20. Venture capitalism at the Veterans Administration.

    Science.gov (United States)

    Andries, G H

    1986-01-01

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

  1. 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.

  2. Education - an investment in human capital

    Directory of Open Access Journals (Sweden)

    Daniela Neamţu

    2012-12-01

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

  3. Social and Symbolic Capital in Firm Clusters

    DEFF Research Database (Denmark)

    Gretzinger, Susanne; Royer, Susanne

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

  4. Intellectual Capital Statements -When Rhetoric meets Logic

    DEFF Research Database (Denmark)

    Krag, Lotte

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

  5. 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...

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

    OpenAIRE

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

    2008-01-01

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

  7. 12 CFR 263.82 - Establishment of minimum capital levels.

    Science.gov (United States)

    2010-01-01

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

  8. 12 CFR 615.5240 - Permanent capital requirements.

    Science.gov (United States)

    2010-01-01

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

  9. 12 CFR 931.6 - Transfer of capital stock.

    Science.gov (United States)

    2010-01-01

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

  10. 12 CFR 3.6 - Minimum capital ratios.

    Science.gov (United States)

    2010-01-01

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

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

    Science.gov (United States)

    Alfred, Mary V.

    2009-01-01

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

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

    Science.gov (United States)

    2010-01-01

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

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

    NARCIS (Netherlands)

    Inklaar, R.

    2010-01-01

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

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

    Science.gov (United States)

    Hinton, Kip Austin

    2015-01-01

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

  15. 12 CFR 933.5 - Disclosure to members concerning capital plan and capital stock conversion.

    Science.gov (United States)

    2010-01-01

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

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

    Science.gov (United States)

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

    2015-01-01

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

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

    Science.gov (United States)

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

    2016-01-01

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

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

    Science.gov (United States)

    Schweizer, Jennifer

    2013-01-01

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

  19. Social Capital: Its Constructs and Survey Development

    Science.gov (United States)

    Enfield, Richard P.; Nathaniel, Keith C.

    2013-01-01

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

  20. 47 CFR 32.2681 - Capital leases.

    Science.gov (United States)

    2010-10-01

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

  1. Optimal income taxation with endogenous human capital

    NARCIS (Netherlands)

    B. Jacobs

    2005-01-01

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

  2. Capital Structure, Strategic Competition, and Governance

    NARCIS (Netherlands)

    T.T. Nguyen (Thuy Thu)

    2008-01-01

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

  3. Skills and Regional Entrepreneurship Capital Formation

    DEFF Research Database (Denmark)

    Grimpe, Christoph; Mendonça, Joana

    2015-01-01

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

  4. Social Cohesion, Social Capital and the Neighbourhood.

    Science.gov (United States)

    Forrest, Ray; Kearns, Ade

    2001-01-01

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

  5. A Survey of Venture Capital Research

    NARCIS (Netherlands)

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

    2011-01-01

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

  6. provider venture capital funds: investing in innovation.

    Science.gov (United States)

    Potter, Mary Jo; Wesslund, Rick

    2016-05-01

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

  7. 77 FR 3847 - Major Capital Investment Projects

    Science.gov (United States)

    2012-01-25

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

  8. 75 FR 31383 - Major Capital Investment Projects

    Science.gov (United States)

    2010-06-03

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

  9. The determinants of Dutch capital structure choice

    NARCIS (Netherlands)

    Chen, Linda H.; Jiang, George J.

    2001-01-01

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

  10. A Shift towards Academic Capitalism in Finland

    Science.gov (United States)

    Kauppinen, Ilkka; Kaidesoja, Tuukka

    2014-01-01

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

  11. Academic Capitalism in the Pasteur's Quadrant

    Science.gov (United States)

    Mendoza, Pilar

    2009-01-01

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

  12. Human Capital Composition and Economic Growth

    Science.gov (United States)

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

    2010-01-01

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

  13. Capital in the Twenty-First Century

    DEFF Research Database (Denmark)

    Hansen, Per H.

    2014-01-01

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

  14. Spatial Analysis Of Human Capital Structures

    Directory of Open Access Journals (Sweden)

    Gajdos Artur

    2014-12-01

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

  15. SUMMARY OF THEORIES IN CAPITAL STRUCTURE DECISIONS

    Directory of Open Access Journals (Sweden)

    Herczeg Adrienn

    2014-07-01

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

  16. A Human Capital Approach to Career Advising

    Science.gov (United States)

    Shaffer, Leigh S.; Zalewski, Jacqueline M.

    2011-01-01

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

  17. A REVIEW OF THE CAPITAL STRUCTURE THEORIES

    Directory of Open Access Journals (Sweden)

    Visinescu Sorin

    2009-05-01

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

  18. 76 FR 67400 - Capital Project Management

    Science.gov (United States)

    2011-11-01

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

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

    Science.gov (United States)

    Darlington, Sonja

    1998-01-01

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

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

    Science.gov (United States)

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

    2013-01-01

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

  1. Social Capital: Its Constructs and Survey Development

    Science.gov (United States)

    Enfield, Richard P.; Nathaniel, Keith C.

    2013-01-01

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

  2. Capital Power:From Input to Output

    Institute of Scientific and Technical Information of China (English)

    You Wanlong; Alice

    2009-01-01

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

  3. State Spending on Higher Education Capital Outlays

    Science.gov (United States)

    Delaney, Jennifer A.; Doyle, William R.

    2014-01-01

    This paper explores the role that state spending on higher education capital outlays plays in state budgets by considering the functional form of the relationship between state spending on higher education capital outlays and four types of state expenditures. Three possible functional forms are tested: a linear model, a quadratic model, and the…

  4. Social Capital and Stratification of Young People

    Directory of Open Access Journals (Sweden)

    Alireza Behtoui

    2013-08-01

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

  5. Treatment of capital in Brasilian cooperative societies

    Directory of Open Access Journals (Sweden)

    Vergílio Frederico Perius

    2005-12-01

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

  6. Political Capital in a Market Economy

    Science.gov (United States)

    Nee, Victor; Opper, Sonja

    2010-01-01

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

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

    Science.gov (United States)

    Le Grange, L.

    2011-01-01

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

  8. Corporate Social Responsibility Under Authoritarian Capitalism

    DEFF Research Database (Denmark)

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

    2015-01-01

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

  9. Star Trek, Global Capitalism, and Immaterial Labor

    NARCIS (Netherlands)

    Hassler-Forest, Dan

    2016-01-01

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

  10. Human Capital Development: Comparative Analysis of BRICs

    Science.gov (United States)

    Ardichvili, Alexandre; Zavyalova, Elena; Minina, Vera

    2012-01-01

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

  11. Getting Connected: Can Social Capital be Virtual?

    Directory of Open Access Journals (Sweden)

    Megan Alessandrini

    2006-12-01

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

  12. Human capital in low-tech manufacturing

    DEFF Research Database (Denmark)

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

    2014-01-01

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

  13. 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.

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

    Directory of Open Access Journals (Sweden)

    Mohamed Ali Boujelbene

    2013-06-01

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

  15. States, Social Capital and Cooperation

    DEFF Research Database (Denmark)

    Anthony, Denise L.; Campbell, John L.

    2011-01-01

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

  16. Academic Words and Academic Capitalism Academic Words and Academic Capitalism

    Directory of Open Access Journals (Sweden)

    Michael Billig

    2013-03-01

    Full Text Available

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


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

  17. Reducing the cost of health care capital.

    Science.gov (United States)

    Silberman, R

    1984-08-01

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

  18. Human and Inhuman Capital, and Schooling

    Directory of Open Access Journals (Sweden)

    Primož Krašovec

    2014-06-01

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

  19. Economic Growth, Capitalism and Unknown Economic Paradoxes

    Directory of Open Access Journals (Sweden)

    Andzela Mialik

    2012-10-01

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

  20. Manufacturing Capital Lingers in the Stock Market

    Institute of Scientific and Technical Information of China (English)

    吴程涛; 段铸; 张景宇; 张曙光

    2008-01-01

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

  1. CAPITAL FLOWS AND THEIR SECTORAL DESTINATIONS

    Directory of Open Access Journals (Sweden)

    Petris Sorina

    2012-07-01

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

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

    Directory of Open Access Journals (Sweden)

    Stijn Claessens

    1997-03-01

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

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

    Science.gov (United States)

    Stewart, Louis J

    2012-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Fazekas Balazs

    2014-07-01

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

  5. ACCOUNTING INFORMATION RELEVANCE ON CAPITAL MARKETS

    Directory of Open Access Journals (Sweden)

    Ciprian-Dan COSTEA

    2015-06-01

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

  6. Employment growth, human capital and educational levels

    DEFF Research Database (Denmark)

    Hansen, Høgni Kalsø; Winther, Lars

    2015-01-01

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

  7. The political dimension of "linking social capital"

    DEFF Research Database (Denmark)

    Rubin, Olivier

    2016-01-01

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

  8. On Aggregating Human Capital Across Heterogeneous Cohorts

    DEFF Research Database (Denmark)

    Growiec, Jakub; Groth, Christian

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

  9. FINANCIAL INTERMEDIARIES’ ACTIVITY ON ROMANIAN CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    Dumitru-Cristian OANEA

    2014-11-01

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

  10. The social architecture of capitalism

    Science.gov (United States)

    Wright, Ian

    2005-02-01

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

  11. Journalists, Numeracy and Cultural Capital

    Directory of Open Access Journals (Sweden)

    Steven Harrison

    2016-07-01

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

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

    OpenAIRE

    Zheleznyak, Anatoliy

    2014-01-01

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

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

    OpenAIRE

    Inklaar, Robert

    2008-01-01

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

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

    Science.gov (United States)

    Isbel, Stephen T; Berry, Helen L

    2016-03-01

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

  15. On Capital Dependent Dynamics of Knowledge

    CERN Document Server

    Szydlowski, M; Szydlowski, Marek; Krawiec, Adam

    2006-01-01

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

  16. FDI, Human Capital and Income Convergence

    DEFF Research Database (Denmark)

    Völlmecke, Dominik; Jindra, Björn; Marek, Philipp

    2016-01-01

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

  17. FAIR VALUE IMPLICATIONS ON ROMANIAN CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    Ciprian-Dan COSTEA

    2014-12-01

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

  18. 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

  19. Autumn,the Autumn of the Capitalism

    Institute of Scientific and Technical Information of China (English)

    2015-01-01

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

  20. Autumn,the Autumn of the Capitalism

    Institute of Scientific and Technical Information of China (English)

    商滔

    2015-01-01

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

  1. Capital Improvement Program (CIP) Project Status

    Data.gov (United States)

    Montgomery County of Maryland — This dataset includes pertinent information relating to a capital project’s status administered by the Department of Transportation and the Department of General...

  2. Capital Subsidies and the Underground Economy

    DEFF Research Database (Denmark)

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

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

  3. Colorful Festivals in the Southern Capital

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

    NANJING City in South China's Jiangsu Province, capital of six dynasties, has since ancient times been noted for the beautiful plum blossom, its official flower. It has become the custom for Nanjing citizens to go on outings to admire

  4. MEASUREMENT AND EVALUATION OF INTELLECTUAL CAPITAL

    OpenAIRE

    Stanescu Aurelia

    2007-01-01

    The purpose of the paper is to provide the succinct description of the current status of theory and practice in the valuation of intellectual (intangible) capital, including the professional valuation of intellectual property and intangible assets.

  5. Social Capital in Tarikh-e-Beihaghi

    Directory of Open Access Journals (Sweden)

    خلیلی خلیلی

    2009-01-01

    Full Text Available Social capital is a systematic set of organized links between the members of a group or a society which is based on specific norms and rules and results into obtaining individual and collective purposes. The category of social capital is different with from current concept of capital in sociology, law and economy. Features like cooperation, knowledge, participating in public affairs, tolerating others and group works are a kind of investment that has no individual owner and has its roots in the past. The writer of this article has studied Tarikh-e-Beihaghi written by Khaje Abolfazl Mohammad-ibn-e-Dabir known as Beihaghi; and has analyzed the different forms of social capital. He has also tried to reconstruct the signs of decline and rise of that period.

  6. Cultural capital and social inequality in health.

    Science.gov (United States)

    Abel, T

    2008-07-01

    Economic and social resources are known to contribute to the unequal distribution of health outcomes. Culture-related factors such as normative beliefs, knowledge and behaviours have also been shown to be associated with health status. The role and function of cultural resources in the unequal distribution of health is addressed. Drawing on the work of French Sociologist Pierre Bourdieu, the concept of cultural capital for its contribution to the current understanding of social inequalities in health is explored. It is suggested that class related cultural resources interact with economic and social capital in the social structuring of people's health chances and choices. It is concluded that cultural capital is a key element in the behavioural transformation of social inequality into health inequality. New directions for empirical research on the interplay between economic, social and cultural capital are outlined.

  7. The Optimal Capital Structure of an Economy

    OpenAIRE

    Gersbach, Hans

    2003-01-01

    We examine the optimal allocation of equity and debt across banks and industrial firms when both are faced with incentive problems and firms borrow from banks. Increasing bank equity mitigates the bank-level moral hazard but may exacerbate the firm-level moral hazard due to the dilution of firm equity. Competition among banks does not result in a socially efficient level of equity. Imposing capital requirements on banks leads to the socially optimal capital structure of the economy in the sen...

  8. Capital Punishment and Deterrence: Understanding Disparate Results

    OpenAIRE

    Salvador Navarro; Chao Fu; Steven Durlauf

    2011-01-01

    Objectives: Investigate how different model assumptions have driven the conflicting findings in the literature on the deterrence effect of capital punishment. Methods: The deterrence effect of capital punishment is estimated across different models that reflect the following sources of model uncertainty: 1) the uncertainty about the probability model generating the aggregate murder rate equation, 2) the uncertainty about the determinants of individual’s choice of committing a murder or not, 3...

  9. Deterministic definition of the capital risk

    OpenAIRE

    Anna Szczypinska; Piotrowski, Edward W.

    2008-01-01

    In this paper we propose a look at the capital risk problem inspired by deterministic, known from classical mechanics, problem of juggling. We propose capital equivalents to the Newton's laws of motion and on this basis we determine the most secure form of credit repayment with regard to maximisation of profit. Then we extend the Newton's laws to models in linear spaces of arbitrary dimension with the help of matrix rates of return. The matrix rates describe the evolution of multidimensional ...

  10. From social capital to health - and back

    OpenAIRE

    Rocco, L; F. Elena; Suhrcke, M

    2011-01-01

    We assess the causal relationship between health and social capital, measured by generalized trust, both at the individual and the community level. The paper contributes to the literature in two ways: it tackles the problems of endogeneity and reverse causation between social capital and health by estimating a simultaneous equation model, and it explicitly accounts for mis-reporting in self reported trust. The relationship is tested using data from the first four waves of the European Social ...

  11. Natural resources, redistribution and Human capital formation

    OpenAIRE

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

    2016-01-01

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

  12. Does cultural capital really affect academic achievement?

    DEFF Research Database (Denmark)

    Jæger, Mads Meier

    2011-01-01

    This paper provides new estimates of the causal effect of cultural capital on academic achievement. The author analyzes data from the National Longitudinal Survey of Youth – Children and Young Adults and uses a fixed effect design to address the problem of omitted variable bias which has resulted...... cultural mobility theory (cultural capital more important in low-SES environments) for indicators capturing “concerted cultivation.”...

  13. Social capital dimensions among incubated entrepreneurs

    Directory of Open Access Journals (Sweden)

    Sergio Ezequiel Quijano Quijano

    2015-12-01

    Full Text Available This article shows contributions from leading researchers in the fi eld of social capital as support of corporate sustainability and the contribution generated by a descriptive case study based on a representative sample from entrepreneurs from the Fundación Parque de Desarrollo Tecnológico (Parquesoft in Colombia, to contrast the theoretical approaches. The findings show a slight presence of social capital in the performance of incubated entrepreneurs.

  14. Skills and Regional Entrepreneurship Capital Formation

    DEFF Research Database (Denmark)

    Mendonça, Joana; Grimpe, Christoph

    2016-01-01

    - and knowledge-intensive sectors. In this paper, we shed light on the skill base of a region in terms of its endowment with human capital and the composition, i.e. specialization or diversity, of skills. Moreover, we look at the context in which entrepreneurship capital formation takes place by focusing......, and that the effects are thus contingent on regional factors. © 2015 Springer Science+Business Media New York...

  15. The Varieties of Capitalism and Hybrid Success

    DEFF Research Database (Denmark)

    Campbell, John L.; Pedersen, Ove K.

    Proponents of the varieties of capitalism literature maintain that capitalist countries whose institutions best fit either the liberal market economy or coordinated market economy types will perform the best. Countries whose institutions are more mixed will perform less well. This paper challenges....... The dynamic interaction of elements found in both liberal and coordinated types of capitalism have contributed to its success. This is demonstrated by analyses of the institutions that coordinate Danish labor markets, vocational training, and industrial policy....

  16. Competing Hegemonic Projects within China's Variegated Capitalism

    DEFF Research Database (Denmark)

    Mulvad, Andreas Christian Møller

    2014-01-01

    This article investigates the variegated model of capitalism emerging in China through a comparative analysis of two contrasting local government approaches developed in Chongqing and Guangdong. From 2007 to 2012, elite politicians and intellectuals articulated the Chongqing and Guangdong models...... of his Guangdong counterpart Wang Yang. Future studies should expand upon the key theoretical insight of the paper: that the emergent variegated capitalism approach to political–economic analysis needs a stronger ideational component....

  17. Corporate governance and capital groups in Poland

    OpenAIRE

    Aggestam, Maria

    2004-01-01

    The process of systemic change in Poland has brought about major changes in corporate governance. The enforcement of new laws has created a culture of compliance that has shaped capital groups and the management ethos of the groups, spurring them to improve. It is argued that the Polish versions of capital groups are markedly different from their western counterparts as they reflect unique historical patterns and socio-economic environments. The purpose of this paper is to discuss governance ...

  18. Dispersion of Human Capital and Economic Growth

    OpenAIRE

    Jungsoo Park

    2004-01-01

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

  19. 12 CFR 1229.11 - Capital restoration plans.

    Science.gov (United States)

    2010-01-01

    ... or long term causes for the capital deficiency; (2) Specify the level of permanent and total capital... capital to levels sufficient to fulfill its risk-based and minimum capital requirements within a... that the Bank will make to member stock purchase requirements, to assure that it will become...

  20. The measurement of human capital: a multivariate macro-approach

    NARCIS (Netherlands)

    Klomp, J.G.

    2013-01-01

    We examine the human capital status of 123 countries by employing factor analysis on various national human capital indicators for the period 2000–2008 to construct two new measures. The first measure is based on advanced human capital, while the second is based on basic human capital. Our measures

  1. 13 CFR 108.200 - Adequate capital for NMVC Companies.

    Science.gov (United States)

    2010-01-01

    ... VENTURE CAPITAL (âNMVCâ) PROGRAM Qualifications for the NMVC Program Capitalizing A Nmvc Company § 108.200 Adequate capital for NMVC Companies. You must meet the requirements of §§ 108.200-108.230 in order to... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Adequate capital for...

  2. 76 FR 1889 - Risk-Based Capital Guidelines: Market Risk

    Science.gov (United States)

    2011-01-11

    ...\\ entitled International Convergence of Capital Measurement and Capital Standards (1988 Capital Accord) was...). In June 2004, the BCBS issued a document entitled International Convergence of Capital Measurement... preceding 250 business days, it is generally required to apply a multiplication factor in excess of 3...

  3. 12 CFR 932.5 - Market risk capital requirement.

    Science.gov (United States)

    2010-01-01

    ... Bank's book value of total capital, where: (A) The current market value of the total capital is...) of this section; and (B) The book value of total capital is the same as the amount of total capital... such that the probability of a loss greater than that estimated shall be no more than one percent;...

  4. 12 CFR 932.3 - Risk-based capital requirement.

    Science.gov (United States)

    2010-01-01

    ... credit risk capital requirement, its market risk capital requirement, and its operations risk capital... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Risk-based capital requirement. 932.3 Section 932.3 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT...

  5. EFFECTS OF RAISING CAPITAL ON FINANCIAL INDICATORS OF THE COMPANY

    OpenAIRE

    Gheorghe NEGOESCU

    2014-01-01

    The financial consequences of growth capital are different depending of accomplishing technical. In these circumstances the General Meeting of Shareholders decide to increase capital. The decision depends on the effect of increasing the potential financial capital, financial stability and financial structure of the company. Next, I will present the financial consequences of growth capital to a company profile in the petrochemical industry.

  6. 12 CFR 615.5206 - Permanent capital ratio computation.

    Science.gov (United States)

    2010-01-01

    ... AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Capital Adequacy § 615.5206 Permanent capital ratio computation. (a) The institution's permanent capital ratio is determined on the basis of the... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Permanent capital ratio computation....

  7. 12 CFR 615.5205 - Minimum permanent capital standards.

    Science.gov (United States)

    2010-01-01

    ... AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Capital Adequacy § 615.5205 Minimum permanent capital standards. Each institution shall at all times maintain permanent capital at a level of at... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Minimum permanent capital standards....

  8. Challenges of Research and Human Capital Development in Nigeria

    Science.gov (United States)

    Chikwe, Christian K.; Ogidi, Reuben C.; Nwachukwu, K.

    2015-01-01

    The paper discussed the challenges of research and human capital development in Nigeria. Research and human capital development are critical to the development of any nation. Research facilitates human capital development. A high rating in human capital development indices places a country among the leading countries of the world. The paper…

  9. 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 ...

  10. 12 CFR 931.1 - Classes of capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Classes of capital stock. 931.1 Section 931.1 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.1 Classes of capital stock. The authorized...

  11. 26 CFR 1.1202-1 - Deduction for capital gains.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Deduction for capital gains. 1.1202-1 Section 1... (CONTINUED) INCOME TAXES Wash Sales of Stock Or Securities § 1.1202-1 Deduction for capital gains. (a) In computing gross income, adjusted gross income, taxable income, capital gain net income (net capital gain...

  12. 47 CFR 36.182 - Cash working capital.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Cash working capital. 36.182 Section 36.182 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) COMMON CARRIER SERVICES JURISDICTIONAL SEPARATIONS... Cash Working Capital § 36.182 Cash working capital. (a) The amount for cash working capital, if...

  13. 7 CFR 3560.304 - Initial operating capital.

    Science.gov (United States)

    2010-01-01

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

  14. 12 CFR 931.2 - Issuance of capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Issuance of capital stock. 931.2 Section 931.2 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.2 Issuance of capital stock. (a) In general. A Bank...

  15. Effects of Social Capital on Academic Success: A Narrative Synthesis

    Science.gov (United States)

    Acar, Erkan

    2011-01-01

    Many researchers link social capital theory to education and commonly use examples from the field of education to examine social capital theory. Accordingly, they accept that reflections and contributions of social capital can be observed in the field of education. This paper examines social capital's effects on academic success in education. In…

  16. 12 CFR 932.4 - Credit risk capital requirement.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Credit risk capital requirement. 932.4 Section 932.4 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL REQUIREMENTS § 932.4 Credit risk capital requirement....

  17. Political Regime and Human Capital: A Cross-Country Analysis

    Science.gov (United States)

    Klomp, Jeroen; de Haan, Jakob

    2013-01-01

    We examine the relationship between different dimensions of the political regime in place and human capital using a two-step structural equation model. In the first step, we employ factor analysis on 16 human capital indicators to construct two new human capital measures (basic and advanced human capital). In the second step, we estimate the…

  18. Teachers' Understanding and Operationalisation of `Science Capital'

    Science.gov (United States)

    King, Heather; Nomikou, Effrosyni; Archer, Louise; Regan, Elaine

    2015-12-01

    Across the globe, governments, industry and educationalists are in agreement that more needs to be done to increase and broaden participation in post-16 science. Schools, as well as teachers, are seen as key in this effort. Previous research has found that engagement with science, inclination to study science and understanding of the value of science strongly relates to a student's science capital. This paper reports on findings from the pilot year of a one-year professional development (PD) programme designed to work with secondary-school teachers to build students' science capital. The PD programme introduced teachers to the nature and importance of science capital and thereafter supported them to develop ways of implementing science capital-building pedagogy in their practice. The data comprise interviews with the participating teachers (n = 10), observations of classroom practices and analyses of the teachers' accounts of their practice. Our findings suggest that teachers found the concept of science capital to be compelling and to resonate with their own intuitive understandings and experiences. However, the ways in which the concept was operationalised in terms of the implementation of pedagogical practices varied. The difficulties inherent in the operationalisation are examined and recommendations for future work with teachers around the concept of science capital are developed.

  19. Analisis Model Pengukuran Human Capital dalam Organisasi

    Directory of Open Access Journals (Sweden)

    Cecep Hidayat

    2013-11-01

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

  20. 76 FR 12611 - Risk-Based Capital Standards: Advanced Capital Adequacy Framework-Basel II; Establishment of a...

    Science.gov (United States)

    2011-03-08

    ... Office of Thrift Supervision 12 CFR Part 567 RIN 1550-AC41 Risk-Based Capital Standards: Advanced Capital Adequacy Framework--Basel II; Establishment of a Risk-Based Capital Floor AGENCY: Office of Thrift...) proposes to: Amend its advanced risk-based capital adequacy standards (advanced approaches rules) \\1\\ to...

  1. Analysis of Intellectual Capital Effect toward Final Performance and Growt

    OpenAIRE

    Sasya Sabrina

    2015-01-01

    The purpose of this research is to investigate the influence of intellectual capital of firm toward financial performance and growth. The Value Added Intellectual Coefficient (VAICTM) is used to measure intellectual capital. The indicators for VAICTM are Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), and Structural Capital Value Added (STVA). The indicators for financial performance are Current Ratio (CR), Total Assets Turnover (TATO), Return on Investment (ROI), and R...

  2. Analysis of Intellectual Capital Effect Toward Financial Performance and Growth

    OpenAIRE

    Sasya Sabrina

    2015-01-01

    The purpose of this research is to investigate the influence of intellectual capital of firm toward financial performance and growth. The Value Added Intellectual Coefficient (VAICTM) is used to measure intellectual capital. The indicators for VAICTM are Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), and Structural Capital Value Added (STVA). The indicators for financial performance are Current Ratio (CR), Total Assets Turnover (TATO), Return on Investment (ROI), and R...

  3. Capital Income and Income Inequality: Evidence from Urban China

    OpenAIRE

    Chi, Wei

    2011-01-01

    Using urban household survey data collected by National Bureau of Statistics of China from 1988-2009, this study examines the distribution, composition, and changes of capital income and its contribution to income inequality. The data shows that capital income has increased considerably in past 20 years in urban China. Although the average value of capital income is still relatively low, the dispersion of capital income is significant, and for high-income earners capital income is substantial...

  4. A LONGITUDINAL ANALYSIS OF INTELLECTUAL CAPITAL

    Directory of Open Access Journals (Sweden)

    Ienciu Nicoleta Maria

    2012-07-01

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

  5. FINANCIAL COMMUNICATION AND INTELLECTUAL CAPITAL REPORTING PRACTICES

    Directory of Open Access Journals (Sweden)

    BELENESI (BUMBA MARIOARA

    2014-07-01

    Full Text Available In a highly competitive economy, driven by globalization, the abundance of digital information and communication facilities, the investor directs its capital to those companies that promise added value of the invested capital. Even so, companies seek to obtain favorable terms of financing by rendering sensitive the investors. To achieve their goal, they must provide information about their financial and non financial performance with sufficient regularity to meet the information needs of actual or potential capital bidders in decision making. Financial communication through standardized annual statements of financial reporting in the context of corporate governance is no longer sufficient. The organization has more resources than those included in its balance sheet, capable of attracting huge benefits, but which do not meet the criteria for recognition in the financial statements. It requires, therefore, a voluntary disclosure of information on intangible resources, which are key factors in creating future value for both the organization itself and the industry it is part of. The reports of intellectual capital can effectively complement the shortcomings of the traditional model of accounting and financial reporting. In our paper we wanted to analyze financial communication in the context of corporate governance, presented through financial statements, reaching the intellectual capital reporting practices, as a means to improve communication of the organization with the outside. In this sense we presented two examples of good practice of two service companies (consultancy and design that publish annually intellectual capital reports. To alleviate the negative consequences of non-recognition of intangible assets in the financial statements, we are for the voluntary disclosure of information on intangible assets in the intellectual capital reports, annual reports, those regarding corporate responsibility, or at least in the explanatory notes of

  6. 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.

  7. Social capital of organizations : from social structure to the management of corporate social capital

    NARCIS (Netherlands)

    Gabbay, Shaul M.; Leenders, Roger Th.A.J.

    2002-01-01

    Social capital in general and the study of social capital in the context of organizations has gained considerable attention in recent years. Despite the promise in the potency of the concept, its useful application suffers from the plethora of different definitions and approaches—both theoretical an

  8. Social Capital in the Classroom: A Study of In-Class Social Capital and School Adjustment

    Science.gov (United States)

    Van Rossem, Ronan; Vermande, Marjolijn; Völker, Beate; Baerveldt, Chris

    2015-01-01

    Social capital is generally considered beneficial for students' school adjustment. This paper argues that social relationships among pupils generate social capital at both the individual and the class levels, and that each has its unique effect on pupils' performance and well-being. The sample in this study consists of 1036 children in 60…

  9. Social Capital, Human Capital and Parent-Child Relation Quality: Interacting for Children's Educational Achievement?

    Science.gov (United States)

    von Otter, Cecilia; Stenberg, Sten-Åke

    2015-01-01

    We analyse the utility of social capital for children's achievement, and if this utility interacts with family human capital and the quality of the parent-child relationship. Our focus is on parental activities directly related to children's school work. Our data stem from a Swedish cohort born in 1953 and consist of both survey and register data.…

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

    NARCIS (Netherlands)

    Inklaar, Robert

    2008-01-01

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

  11. 12 CFR 208.43 - Capital measures and capital category definitions.

    Science.gov (United States)

    2010-01-01

    ... definitions. 208.43 Section 208.43 Banks and Banking FEDERAL RESERVE SYSTEM BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM MEMBERSHIP OF STATE BANKING INSTITUTIONS IN THE FEDERAL RESERVE SYSTEM (REGULATION H...-based capital ratio; (2) The Tier 1 risk-based capital ratio; and (3) The leverage ratio. (b)...

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

    Directory of Open Access Journals (Sweden)

    Simona Buta

    2014-12-01

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

  13. Cultural Capital in Context: Heterogeneous Returns to Cultural Capital Across Schooling Environments

    DEFF Research Database (Denmark)

    Andersen, Ida Gran; Jæger, Mads Meier

    2015-01-01

    This paper tests two competing explanations of differences in returns to cultural capital across schooling environments: Cultural reproduction (cultural capital yields a higher returns in high-achieving environments than in low-achieving ones) and cultural mobility (cultural capital yields higher...... returns in low-achieving environments). Using multilevel mixture models, empirical results from analyses based on PISA data from three countries (Canada, Germany, and Sweden) show that returns to cultural capital tend to be higher in low-achieving schooling environments than in high-achieving ones....... These results principally support the cultural mobility explanation and suggest that research should pay explicit attention to the institutional contexts in which cultural capital is converted into educational success....

  14. The "Network Ethic" and the New Spirit of Capitalism in French Sociology of Capitalism

    DEFF Research Database (Denmark)

    Jagd, Søren

    2005-01-01

    forms of organisation have received less attention. In this paper I discuss a recent French contribution to the analysis of the cultural aspects of networks: Boltanski & Chiapello’s book Le nouvel esprit du capitalisme (Boltanski and Chiapello 1999). The contribution is important for recent discussions...... of a network perspective on organisations in several ways. First, drawing on Weber’s earlier discussion of the rise of the capitalist spirit, Boltanski and Chiapello proposes an interesting theoretical model of the change of capitalism relating two different types of cultural elements: the ‘spirit...... of capitalism’ and criticism of capitalism to processes of change in the form of capitalism. Second, Boltanski and Chiapello directs a critical perspective on the emergent model of ‘network capitalism’ and its accompanying spirit applying the theoretical framework of ‘worlds of justification’ developed earlier...

  15. 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

  16. Capital Market and Unemployment in Nigeria

    Directory of Open Access Journals (Sweden)

    Bamidele M. Ilo

    2015-10-01

    Full Text Available This paper examines how the Nigerian capital market affects unemployment in Nigeria with a view to identifying how the market has been able to curtail unemployment over the years or otherwise. It employes annual series data from 1986 to 2012 on unemployment, market capitalization and other data obtained from the Central Bank of Nigeria, Statistical Bulletin. The study adopts the Johansson cointegration vector error correction technique for data analysis. The result shows that unemployment has risen unabatedly since the adoption of Structural Adjustment Programme (SAP with an average unemployment rate of 8.12 per cent for the period while market capitalization relative to the size the economy is 14.42 per cent. The analysis also shows that while, economic growth significantly curtails unemployment capital market development fails to limit unemployment. The stock market thus has grown over the years at the expense job creation in Nigeria. It is expected that efforts are geared towards efficient capital market development to enhance mobilization of funds for long term investments by firms and propel job creation along the value chain. The government should also focus on developing those labour intensive sectors of the economy while pursuing its economic growth policy.

  17. Social Capital in an Outdoor Recreation Context

    Science.gov (United States)

    Mann, Marilynne; Leahy, Jessica

    2010-02-01

    This study examined social capital development in three all-terrain vehicles (ATV) clubs in Maine using an adapted version of Lin’s (2001) social capital theory model. The structural components of social capital identified included collective assets and individual assets in the form of normative behavior and trust relationships. Also identified were counter-norms for individual ATV riders identified as having divergent norms from club members. The second component of social capital is access to and mobilization of network contacts and resources. Access networks in the context of the ATV clubs studied were identified as community and landowner relations while mobilization of resources was existent in club membership attempts toward self-governance and efforts of the statewide “umbrella” organization. Instrumental outcomes benefit society and expressive outcomes benefit the individual. Both types of returns are present in the data suggesting that ATV clubs are creating social capital. This is important information to clubs who desire to market themselves, improve their reputations, and enhance their volunteer association. It is of further interest to state governments who fund clubs through trail grants as proof that a return on investment is being realized. Theoretical and applied implications for these and other types of recreation-based volunteer associations (e.g., clubs, friends groups, advocacy groups) are presented.

  18. Access to capital--a growing concern.

    Science.gov (United States)

    Carlson, Donald A

    2004-01-01

    Access to capital over the next ten years will be one of the biggest challenges healthcare organizations will face as they strive to remain competitive and serve their communities. Meeting the growing needs for capital will require a disciplined and honest assessment of the capital sources that will be available and the best ways of positioning an organization to maximize their uses. It is incumbent on chief executive officers and other senior leaders to create a disciplined process for allocating capital and conveying how that process will be linked to the organization's strategic plan. All of the credit constituencies "buying" healthcare need to fully understand how the organization is positioning itself for future growth and success, and detailed bond marketing plans need to be implemented well before the actual sale of a new bond issue. Large and small healthcare providers will have sufficient access to capital in the future if investors believe that senior hospital executives have a credible plan and are disciplined enough to execute it.

  19. Human Capital, Technology, and Economic Growth

    Directory of Open Access Journals (Sweden)

    Chindo Sulaiman

    2015-11-01

    Full Text Available This article investigated the impact of human capital and technology on economic growth in Nigeria. We employed annual time series data for the period of 35 years (1975-2010 and applied autoregressive distributed lag approach to cointegration to examine the relationship between human capital, technology, and economic growth. Two proxies of human capital (secondary and tertiary school enrollments were used in two separate models. The cointegration result revealed that all the variables in the two separate models were cointegrated. Furthermore, the results of the two estimated models showed that human capital in form in secondary and tertiary school enrollments have had significant positive impact on economic growth. More so, technology also shows significant positive impact on economic growth. In a nutshell, both human capital and technology are important determinants of growth in Nigeria. Therefore, improvement of the educational sector and more funding for research and development (R&D to encourage innovations are needed to facilitate Nigeria’s sustained economic growth.

  20. Thomas Piketty’s capitalism revisited

    Directory of Open Access Journals (Sweden)

    Milovanović Milić

    2015-01-01

    Full Text Available Thomas Piketty’s international best selling Capital in the Twenty-First Century lays out his theory of a long-run rise in income inequality under capitalism. It is written as a manifesto urging reintegration of social sciences. A number of reviewers judged it on ideological grounds, labeling it either as a revolution in economic thinking, or dismissing it offhandedly. Piketty’s theory of rising inequality is based on the two Fundamental Laws of Capitalism, developed after the Solow growth model. However, this model is inconsistent with Piketty’s own characterization of modern capitalism. Moreover, his sole justification for the constant discrepancy between rate of return and rate of income growth (r > g is based on the high elasticity of substitution between capital and labor. However, that is just one factor that can have an influence on factor income shares. By failing to offer a consistent theory of rising inequality, his piece can hardly be considered as a useful founding stone for a new social science.

  1. 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.

  2. 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.

  3. Capitals, assets, and resources: some critical issues.

    Science.gov (United States)

    Savage, Mike; Warde, Alan; Devine, Fiona

    2005-03-01

    This paper explores the potential of Bourdieu's approach to capital as a way of understanding class dynamics in contemporary capitalism. Recent rethinking of class analysis has sought to move beyond what Rosemary Crompton (1998) calls the 'employment aggregate approach', one which involves categorizing people into class groups according to whether they have certain attributes (e.g. occupations). Instead, recent contributions by Pierre Bourdieu, Erik Wright, Aage Sorensen, and Charles Tilly have concentrated on understanding the mechanisms that produce class inequalities. Concepts such as assets, capitals and resources (CARs) are often used to explain how class inequalities are produced, but there remain ambiguities and differences in how such terms are understood. This paper identifies problems faced both by game theoretical Marxism and by the rational choice approach of Goldthorpe in developing an adequate approach to CARs. It then turns to critically consider how elements of Bourdieu's approach, where his concept of capital is related to those of habitus and field, might overcome these weaknesses. Our rendering of his arguments leads us to conclude that our understanding of CARs might be enriched by considering how capital is distinctive not in terms of distinct relations of exploitation, but through its potential to accumulate and to be converted to other resources. This focus, we suggest, sidesteps otherwise intractable problems in CAR based approaches.

  4. Time-varying Capital Requirements and Disclosure Rules

    DEFF Research Database (Denmark)

    Kragh, Jonas; Rangvid, Jesper

    Unique and confidential Danish data allow us to identify how changes in disclosure requirements and bank-specific time-varying capital requirements affect banks' lending and capital accumu-lation decisions. We find that banks increase their capital ratios after capital requirements are increased......, implying that resilience in the banking system is also increased. The increase in capital ratios is partly due to a modest reduction in lending. Using a policy changes, we show that banks react stronger to changes in capital requirements when these are public. Our results further suggest that the impact...... of capital requirements differ for small and large banks. Large banks raise their capital ratios more, reduce lending less, and accumulate more new capital compared to small banks....

  5. Social Capital, ICT Use and Company Performance

    DEFF Research Database (Denmark)

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

    2010-01-01

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

  6. Social Capital, ICT Use and Company Performance

    DEFF Research Database (Denmark)

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

    2009-01-01

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

  7. Capital Gains Taxation and House Price Fluctuations

    DEFF Research Database (Denmark)

    Fuest, Clemens; Nielsen, Søren Bo

    2004-01-01

    Recent years have seen large swings in house prices in many countries. Motivated by housing price variations, proposals for taxing capital gains on housing have repeatedly been put forth. The idea seems to be that such taxes would curb the redistribution occurring between those owning houses...... and those trying to get into the market for owner-occupied housing. Our paper shows that at least in simple settings, a tax on real capital gains on housing will only lead to even bigger price swings and will not be able to redistribute between people appearing on either side of the housing market.......Keywords: capital gains tax, housing market, price fluctuationsJEL-Classification: H23, H24, R 31.Addresses:...

  8. 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.

  9. Human Capital Diversification within the Household

    DEFF Research Database (Denmark)

    Lilleør, Helene Bie

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

  10. Human Capital Diversification within the Household

    DEFF Research Database (Denmark)

    Lilleør, Helene Bie

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

  11. Corporal and capital punishment of juveniles.

    Science.gov (United States)

    Frazier, H C

    1990-01-01

    There is a previously unobserved connection between corporal punishment of public school children and capital punishment of juveniles. Both are barometers of acceptable levels of violent punishment and their elimination is a hallmark of a maturing and decent society. Within a majority of the eighteen states where school authorities most frequently strike children are housed 25 of the nation's 28 juvenile death row inmates. On average, the homicide rates of these jurisdictions are two and a half times greater than those that have abolished both state-sanctioned corporal and capital punishment or limit death sentences to those age eighteen and older at the time of their crime(s). Most of the eighteen state abolitions of corporal punishment occurred in the 1980's. The US Supreme Court has ruled both corporal and capital punishment of juveniles constitutional. Additional state legislative abolition of both is anticipated in the 1990s.

  12. Action Knowledge in Intellectual Capital Statements

    DEFF Research Database (Denmark)

    Ravn, Ib

    2004-01-01

    Within the field of intellectual capital and knowledge management, the concept of knowledge is burdened by the naïve view of knowledge as passive representations of external reality. An alternative definition is proposed. ''Action knowledge'' is the categories and distinctions that guide human...... activity in appropriate ways. In the organisation, this definition highlights the intelligent actions taken by organisational members in pursuit of their goals. The paper offers a design for an intellectual capital statement that emphasises action knowledge in the organisation. A case is presented......: the intellectual capital statement of the Danish consulting firm, Nellemann Konsulenterne A/S. It shows a major concern with knowledge sharing and learning activities that bring out the dynamic nature of knowledge, as opposed to the ''amount'' of knowledge stored in databases and intranets...

  13. Study on Human Capital Valve Quantity Model and Investment Featuers

    Institute of Scientific and Technical Information of China (English)

    Chen Peian; Li Yujiang; Li Zhen

    2005-01-01

    In this paper, human capital is considered a kind of goods in terms of investment. Basic consumption and profit margin are the two important components of human capital goods value. Compared with that of the material capital, the human capital consumption has the following features.The importance of human capital investment determined by the supply-demand mechanism, is growing gradually; The course of investment and return takes a long period of time; Human capital is characterized by strong technicality and weak negotiability; The investment profit margin is changeable and discriminating.

  14. Scale and structure of capitated physician organizations in California.

    Science.gov (United States)

    Rosenthal, M B; Frank, R G; Buchanan, J L; Epstein, A M

    2001-01-01

    Physician organizations in California broke new ground in the 1980s by accepting capitated contracts and taking on utilization management functions. In this paper we present new data that document the scale, structure, and vertical affiliations of physician organizations that accept capitation in California. We provide information on capitated enrollment, the share of revenue derived by physician organizations from capitation contracts, and the scope of risk sharing with health maintenance organizations (HMOs). Capitation contracts and risk sharing dominate payment arrangements with HMOs. Physician organizations appear to have responded to capitation by affiliating with hospitals and management companies, adopting hybrid organizational structures, and consolidating into larger entities.

  15. Venture Capital Industry Index Portfolio Analysis

    Directory of Open Access Journals (Sweden)

    Dagang Yang

    2013-05-01

    Full Text Available This paper using index analysis method, knowledge of venture capital as well as index funds investment ideas, successively set up the Markowitz model and the single index model of index investing. Markowitz model for the calculation of the risk of workload is too big and single-index model although accuracy is slightly lower, but can certainly be very well used in practice. Therefore, We use index invest to invest in Shanghai 10 index securities with the single-index model , and apply lingo software to figure out the venture capital portfolio which have different yields.

  16. 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.

  17. Building research capital to facilitate research.

    Science.gov (United States)

    Green, Gill; Rein, Melanie

    2013-04-04

    The National Institute for Health Research, Research Design Service (NIHR RDS) was set up to increase the number and proportion of high quality applications for funding for applied and patient focused health and social care research. Access to specialist expertise and collaboration between researchers and health practitioners at the proposal development stage is crucial for high quality applied health research. In this essay we develop the concept of 'research capital' to describe the wide range of resources and expertise required to develop fundable research projects. It highlights the key role the RDS plays supporting researchers to broker relationships to access the requisite 'research capital'.

  18. Thinking strategically about imaging capacity and capital.

    Science.gov (United States)

    Griffin, David; Dubiel, Paul

    2006-01-01

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

  19. Flujos migratorios y movilidad del capital humano

    OpenAIRE

    2009-01-01

    En este trabajo se estiman los flujos migratorios de capital humano entre las regiones españolas a partir de un conjunto de hipótesis. Los resultados indican un aumento de la intensidad de los flujos brutos de migrantes con niveles de instrucción de 2° y 3er grado. Se constata que en España existen tres polos de atracción y emisión de capital humano centrados en Madrid, País Vasco y Cataluña, y actuando de forma independiente. Asimismo, se obtiene un grado de adecuación apreciable entre el ni...

  20. On Relational Capital in Social Media

    DEFF Research Database (Denmark)

    Etter, Michael; Fieseler, Christian

    2010-01-01

    relies not only on communication in classical media alone but also on the various online channels summarized by the term “social media.” Utilizing a literature study and expert interviews, this article explores how organizations engage in creating and maintaining relational social capital...... by communicating their corporate social responsibility efforts through social media channels.......Stakeholder relationships become increasingly important as new communication technologies en-able interest groups to communicate their demands, organize themselves and voice their concerns with ease. In this changing stakeholder environment, the creation and maintenance of relational social capital...

  1. Rethinking traditional methods for measuring intellectual capital.

    Science.gov (United States)

    Corso, John A

    2007-01-01

    Historically, approaches to measuring intellectual capital have included both conventional accounting-based measures, such as variants of the market-to-book ratio, and more progressive measures, such as the measurement of intangible assets found in approaches such as the Balanced Scorecard and Human Resource Accounting. As greater emphasis is placed on intellectual capital and its various aspects in the continually growing service and knowledge economy, the use of assessment instruments to inventory the alignment, balance, and variety of intellectual capacities and metrics that assess the effectiveness of succession planning may represent new directions in which organizations can head in the measurement of this important construct.

  2. Intellectual capital disclosure and dividend policy

    DEFF Research Database (Denmark)

    Nielsen, Christian; Farooq, Omar

    2015-01-01

    not only have high payout ratios, but also have a greater likelihood of increasing and paying dividends. Our findings are consistent with our hypothesis that lower information asymmetries of firms with high intellectual capital disclosure lead to more favourable dividend policies. In opposition...... financial reports, while data on dividend policies was retrieved from Worldscope. This paper defines dividend policies by three variables: (1) Dividend payout ratio, (2) Decision to pay dividend, and (3) Increase in dividend payout. The results show that firms with higher intellectual capital disclosures...

  3. Capitalizing on the Forces within Us

    DEFF Research Database (Denmark)

    Pedersen, Mogens Jin

    This dissertation centers on an important but understudied theme in public administration scholarship: How to capitalize actively on public employees’ work motivation and commitment to support and improve their efforts and performance at work. The dissertation draws on self-determination theory...... via active efforts to capitalize on the forces of employee work motivation and commitment......., public service motivation research, and goal setting theory, and empirically it involves a set of quantitative analyses that span a range of different research designs and data. The dissertation contributes with extension of theory and identification of particular interventions and factors that may...

  4. 'Blue' social capital and work performance

    DEFF Research Database (Denmark)

    Grøn, Sisse; Svendsen, Gunnar Lind Haase

    2012-01-01

    One outcome of globalization is an increasing number of “boundaryless and borderless careers” (Morris & Wu 2009). This is particularly true in the case of international seafarers, who seldom are members of the same crew two voyages in a row but must cooperate with seafarers from many countries...... findings suggest that a balance between three types of social capital – bonding, bridging and linking – is needed to achieve a high-performance work system (Gittell et al. 2010). Hence, main actors within the shipping sector should take ‘blue’ social capital into account in order to increase work...

  5. BRAZILIAN EDUCATION AND SURVIVAL STRATEGIES OF CAPITALISM

    Directory of Open Access Journals (Sweden)

    Adriana Almeida Sales de Melo

    2012-06-01

    Full Text Available In discussing the theme Imperialism, Crisis and education, the essay points out aspects of our historical totality in relation to recent crises through which it passed capitalism, and its relationship to changes in Brazilian educational policies. Education remains at the heart of development projects, as a producer of knowledge, as well as guiding the processes of social conformation. They also discussed the aftermath of the crisis: the rise of social inequality and the increase of labor exploitation. Make clear our project of society and education, as resistance movements to the survival of capitalism is a necessity in building movements of counter-hegemony.

  6. Human capital, stock, investment and other estimates

    OpenAIRE

    Giraldez, Roxana; Quiñonez, María del Carmen

    2014-01-01

    En el presente trabajo se realiza una cuantificación del capital humano en el Perú expresado en unidades monetarias. Se estiman el stock y la inversión en capital humano así como las tasas de rentabilidad de esta inversión. La principal variable considerada es el nivel de educación. Se trabaja sobre la base de información del ingreso laboral según sexo, edad y nivel de educación, de acuerdo al censo de 1981. A partir de ello se construye el Ingreso Laboral Esperado de por Vida para cada grupo...

  7. 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.

  8. Capital intelectual : o capital intelectual e o principal elemento diferenciador das empresas em ambientes competitivos?

    OpenAIRE

    Ziccardi, Paulo de Tarso

    2010-01-01

    Trata do papel do capital intelectual dentro das organizações mostrando sua importância, explica os elementos necessários para o seu desenvolvimento e as razões para o seu desenvolvimento. Mostra as principais relações do capital intelectual com o contexto mundial e os impactos que tem nos resultados das organizações. Compara organizações que trabalham o seu capital intelectual com organizações que não trabalham e verifica as diferenças nos resultados. Levanta as carac...

  9. A Dynamic Analysis of Capital Structure Determinants. Empirical Results for Romanian Capital Market

    Directory of Open Access Journals (Sweden)

    Mihaela Dragota

    2008-04-01

    Full Text Available The analysis of capital structure and its determinants represents an useful approach for the Romanian and foreign investors and for the companies, at the same time. The main conclusion for capital structure analysis was that Romanian listed companies sustained their assets, in this order, on equity, commercial debt and, finally, on financial debt. The four variables used in the regression model are significant. The pecking order theory seemed to be more appropriate for the Romanian capital market, but the signalling theory was not entirely rejected.

  10. 12 CFR 208.42 - Notice of capital category.

    Science.gov (United States)

    2010-01-01

    ... member bank shall be deemed to be within a given capital category for purposes of section 38 of the FDI... Board to the bank of its capital category for purposes of section 38 of the FDI Act and this subpart...

  11. Social Capital in Organizations - Beyond Structure and Metaphor

    DEFF Research Database (Denmark)

    Waldstrøm, Christian

    2003-01-01

    . Secondly, it is necessary to determine whether social capital can or should be measured. Thirdly, the negative aspects of social capital should be explored and integrated into the existing research. Fourthly, the field between social capital of the individual and organizational social capital lacks......The importance and usefulness of social capital as a concept in the study of organizations have been established by a large body of research. The aim of this paper is to review the concept of social capital in an organizational context, and it identifies five main issues that need to be addressed...... in future research before social capital can move definitively beyond being merely a metaphor for advantage. First, the unresolved issue of causality is a barrier in the study of social structure and social capital alike, and hampers both measuring scales and implications drawn from empirical research...

  12. 12 CFR 565.3 - Notice of capital category.

    Science.gov (United States)

    2010-01-01

    ... association shall be deemed to be within a given capital category for purposes of section 38 of the FDI Act... FDI Act and this part or that the savings association's capital category has changed as provided...

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

    Energy Technology Data Exchange (ETDEWEB)

    Mendelsohn, M.

    2014-10-01

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

  14. Social Capital in Russia and Denmark: A Comparative Study

    DEFF Research Database (Denmark)

    Hjøllund, Lene; Paldam, Martin; Svendsen, Gert Tinggaard

    2001-01-01

    This paper has three purposes: (p1) To study the relation between the main social capital definitions using empirical data. (p2) To compare the level of social capital in a new democracy (Russia) and an old one (Denmark). (p3) To show whether social capital matters for income generation...... and eventually to economic growth. The main results are: (r1) The differences in social capital between the two countries is similar by all social capital measures used. (r2) The level of beneficial social capital is roughly three times higher in the old democracy than in the former communist dictatorship. (r3......) Social capital matters in the earnings equation. In both countries it explains roughly 40% of what human capital explains in both countries....

  15. Social Capital in Organizations - Perspectives and Unresolved Issues

    DEFF Research Database (Denmark)

    Waldstrøm, Christian

    The importance and usefulness of social capital as a concept in the study of organizations have been established by a large body of research. The aim of this paper is to review the concept of social capital in an organizational context, and identifying five main issues that need to be addressed...... in future research before social capital can move definitively beyond being merely a metaphor for advantage. First, the unresolved issue of causality is a barrier in the study of social structure and social capital alike, and hampers both measuring scales and implications drawn from empirical research....... Secondly, it is necessary to determine whether social capital can or should be measured. Thirdly, the negative aspects of social capital should be explored and integrated into the existing research. Fourthly, the field between social capital of the individual and organizational social capital lacks...

  16. 77 FR 53059 - Risk-Based Capital Guidelines: Market Risk

    Science.gov (United States)

    2012-08-30

    ..., as well as all intangible assets, including servicing assets. Intangible assets were excluded because... the Standardized Measurement Method for Specific Risk for Modeled Correlation Trading Positions and... framework for banks \\1\\ entitled International Convergence of Capital Measurement and Capital...

  17. The Continuing Relevance of Austrian Capital Theory

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul

    2012-01-01

    The article presents a speech by Professor Nicolai J. Foss of Copenhagen Business School, delivered at the Austrian Scholars Conference held on March 8, 2012 in Auburn, Alabama, in which he discussed the knowledge essays by economist Friedrich A. von Hayek, the concept of capital theory and the w...... and the works of Hayek on political philosophy and cultural evolution....

  18. Education, Social Capital and the Accordion Effect

    Science.gov (United States)

    Vorhaus, John

    2014-01-01

    The "accordion effect" is an effect of language which allows us to describe one and the same thing more or less narrowly. Social capital has been conceived in terms of our access to institutional resources, but also in terms that extend to the levels of trust and related resources found in the social networks we are embedded in. The…

  19. Capitalism in Six Westerns by John Ford

    Science.gov (United States)

    Braun, Carlos Rodriguez

    2011-01-01

    The economic and institutional analysis of capitalism can be illustrated through John Ford's Westerns. This article focuses on six classics by Ford that show the move toward modern order, the creation of a new society, and the rule of law. Economic features are pervading, from property rights and contracts to markets, money, and trade. Ford has…

  20. School Leadership that Builds Teacher Social Capital

    Science.gov (United States)

    Minckler, Cheri Hoff

    2014-01-01

    This quantitative study explores the relationship between school leadership and the development and sustenance of teacher social capital. The literature review discusses aspects of leadership theory to elucidate understanding of how leadership influences teachers' working relationships. Quantitative methodology and analyses ascertain the…

  1. Is Social Capital a Good Concept?

    DEFF Research Database (Denmark)

    Bjørnskov, Christian; Sønderskov, Kim Mannemar

    conditions for concepts to be good in a strict sense. Afterwards, an empirical section explores the validity of the unidimensionality assumption of most definitions of social capital. This assumption is rejected in four separate tests at both the micro and macro level. A final section therefore discusses...

  2. Is Social Capital a Good Concept?

    DEFF Research Database (Denmark)

    Bjørnskov, Christian; Sønderskov, Kim Mannemar

    2013-01-01

    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...

  3. Measuring Social Capital Change Using Ripple Mapping

    Science.gov (United States)

    Baker, Barbara; Johannes, Elaine M.

    2013-01-01

    This article provides a detailed description of how to implement a ripple mapping activity to assess youth program effects on community capital and concludes with examples from Maine and Kansas. The maps lead to group reflection on project outcomes and further research and evaluation questions for group members. The results from five Maine…

  4. 76 FR 56363 - Capital Project Management

    Science.gov (United States)

    2011-09-13

    ... project activities. See, e.g., Project Management Institute, Body of Knowledge (2004), Ch. 11. This NPRM... Federal Transit Administration 49 CFR Part 633 RIN 2132-AA92 Capital Project Management AGENCY: Federal...: This proposal would transform the current FTA rule for project management oversight into a discrete...

  5. Risk capital allocation with autonomous subunits

    DEFF Research Database (Denmark)

    Hougaard, Jens Leth; Smilgins, Aleksandrs

    2016-01-01

    Risk capital allocation problems have been widely discussed in the academic literature. We consider a set of independent subunits collaborating in order to reduce risk: that is, when subunit portfolios are merged a diversification benefit arises and the risk of the group as a whole is smaller than...

  6. Venture Capital Financing, Moral Hazard and Learning

    NARCIS (Netherlands)

    Bergemann, D.; Hege, U.

    1997-01-01

    We consider the provision of venture capital in a dynamic agency model. The value of the venture project is initially uncertain and more information arrives by developing the project. The allocation of the funds and the learning process are subject to moral hazard. The optimal contract is a time-var

  7. 75 FR 33757 - Major Capital Investment Projects

    Science.gov (United States)

    2010-06-15

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Federal Transit Administration 49 CFR Part 611 RIN 2132-AB02 Major Capital Investment Projects AGENCY: Federal Transit Administration (FTA), DOT. ACTION: Public meetings on ANPRM. SUMMARY: This...

  8. 75 FR 39492 - Major Capital Investment Projects

    Science.gov (United States)

    2010-07-09

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Federal Transit Administration 49 CFR Part 611 RIN 2132-AB02 Major Capital Investment Projects AGENCY: Federal Transit Administration (FTA), DOT. ACTION: Public meetings on ANPRM. SUMMARY: This...

  9. Towards a Theory of Transnational Academic Capitalism

    Science.gov (United States)

    Kauppinen, Ilkka

    2015-01-01

    This article draws attention to the relative lack of theoretically and methodologically elaborated approaches to understand and explain the complex relations between transnationalization of higher education and globalization seen especially from the point of view of global capitalism. The main aim of this article is to contribute to the…

  10. The ES for Estimating Capital Requirement

    Institute of Scientific and Technical Information of China (English)

    余雪丽; Y.D.Tse; 等

    1989-01-01

    In this paper,an expert system for estimating capital requirement is briefly illustrated.including the essential construction of the simulation model.Then various factors which have impact on the manager's decision making,the datails of the program using the GURU environment,and the major roles of the human experts and the knowledge engineer are described.

  11. Asian and western Intellectual Capital in encounter

    NARCIS (Netherlands)

    Andriessen, Daan; Boom, Marien van den

    2007-01-01

    The purpose of the paper is to start a dialogue about differences between Western and Eastern cultures in the way they conceptualize knowledge and discuss the implications of these differences for a global intellectual capital (IC) theory and practice. A systematic metaphor analysis of the concept o

  12. Capital cost: gas cooled fast reactor plant

    Energy Technology Data Exchange (ETDEWEB)

    1977-09-01

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

  13. Defining ecosystem assets for natural capital accounting

    NARCIS (Netherlands)

    Hein, Lars; Bagstad, Ken; Edens, Bram; Obst, Carl; Jong, de Rixt; Lesschen, Jan Peter

    2016-01-01

    In natural capital accounting, ecosystems are assets that provide ecosystem services to people. Assets can be measured using both physical and monetary units. In the international System of Environmental-Economic Accounting, ecosystem assets are generally valued on the basis of the net present va

  14. Deferred Tax Assests and Bank Regulatory Capital

    NARCIS (Netherlands)

    Gallemore, J.

    2012-01-01

    Abstract: In this study, I examine three issues: (1) whether the probability of bank failure is increasing in the proportion of regulatory capital composed of deferred tax assets (DTA), (2) whether market participants incorporate the increased failure risk associated with the DTA component of capita

  15. Optimal Taxation of Risky Human Capital

    NARCIS (Netherlands)

    B. Jacobs (Bas); D. Schindler (Dirk); H. Yang (Hongyan)

    2009-01-01

    textabstractIn a model with ex-ante homogenous households, earnings risk and a general earnings function, we derive the optimal linear labor tax rate and optimal linear education subsidies. The optimal income tax trades off social insurance against incentives to work and to invest in human capital.

  16. Professional Capital: Transforming Teaching in Every School

    Science.gov (United States)

    Hargreaves, Andy; Fullan, Michael

    2012-01-01

    The future of learning depends absolutely on the future of teaching. In this latest and most important collaboration, Andy Hargreaves and Michael Fullan show how the quality of teaching is captured in a compelling new idea: the professional capital of every teacher working together in every school. Speaking out against policies that result in a…

  17. Capital Structure Policies in Europe: Survey Evidence

    NARCIS (Netherlands)

    D. Brounen (Dirk); A. de Jong (Abe); C.G. Koedijk (Kees)

    2005-01-01

    textabstractIn this paper we present the results of an international survey among 313 CFOs on capital structure choice. We document several interesting insights on how theoretical concepts are being applied by professionals in the U.K., the Netherlands, Germany, and France and we directly compare ou

  18. More Like Ourselves: Indigenous Capitalism through Tourism

    Science.gov (United States)

    Bunten, Alexis Celeste

    2010-01-01

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

  19. 78 FR 16460 - Capital Project Management

    Science.gov (United States)

    2013-03-15

    ... Federal Transit Administration 49 CFR Part 633 RIN 2132-AA92 Capital Project Management AGENCY: Federal... revise the agency's project management oversight regulations, in light of the recent, fundamental changes... Progress in the 21st Century Act (``MAP-21''). FTA will reinitiate a rulemaking for project...

  20. Human Capital Development Policies: Enhancing Employees Satisfaction

    Science.gov (United States)

    Wan, Hooi Lan

    2007-01-01

    Purpose--The aim of this article is to gain insight into some of the human capital development (HCD) policies that enhance employee satisfaction. A salient focus of the study is to assess whether employees in globalised foreign-owned MNCs are likely to be more satisfied with the HCD policies than with the practices employed by locally owned MNCs.…

  1. Community Gardening, Neighborhood Meetings, and Social Capital

    Science.gov (United States)

    Alaimo, Katherine; Reischl, Thomas M.; Allen, Julie Ober

    2010-01-01

    This study examined associations between participation in community gardening/beautification projects and neighborhood meetings with perceptions of social capital at both the individual and neighborhood levels. Data were analyzed from a cross-sectional stratified random telephone survey conducted in Flint, Michigan (N=1916). Hierarchical linear…

  2. 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.

  3. SKS splitting beneath Capital area of China

    Institute of Scientific and Technical Information of China (English)

    CHANG Li-jun; WANG Chun-yong; DING Zhi-feng

    2008-01-01

    Based on the polarization analysis of teleseismic SKS waveform data recorded at 49 seismic stations in Capital Area Seismograph Network, the SKS fast-wave direction and the delay time between the fast and slow shear waves at each station were determined by using the grid searching method of minimum transverse energy and the stacking analysis method, and then we acquired the image of upper mantle anisotropy in Capital area. In the study area, the fast-wave polarization direction is basically WNW-ESE, and the delay time falls into the interval from 0.56 s to 1.56 s. The results imply that the upper mantle anisotropy in Capital area is mainly caused by the subduetion of the Pacific plate to Eurasian plate. The subduction has resulted in the asthenospheric material deformation in Capital area, and made the alignment of upper mantle peridotite lattice parallel to the deformation direction. And the collision between the Indian and Eurasian plates made the crest of western China thickening and uplifting and material eastwards extruding, and then caused the upper mantle flow eastwards, and made the upper mantle deformation direction parallel to the fast-wave direction. The deformation model of the crust and upper mantle is possibly vertically coherent deformation by comparing the fast-wave polarization direction with the direction of lithospheric extension and the GPS velocity direction.

  4. Corporate relocation in venture capital finance

    NARCIS (Netherlands)

    D. Cumming; G. Flemming; A. Schwienbacher

    2009-01-01

    This paper introduces an analysis of international relocation decisions of venture capital (VC)-backed companies. Relocations to the United States are motivated by economic conditions as well as an improvement in the laws of the country in which the entrepreneurial firm is based. Relocations to the

  5. Growing Social Capital in the Classroom

    Science.gov (United States)

    Arriaza, Gilberto; Rocha, Christie

    2016-01-01

    Sharing school supplies appears, indeed, a simple, even an irrelevant routine activity, but upon closer examination one realizes that deeper and complex issues are at stake. This article aims at explaining how seemingly uneventful classroom activities contain the potential to building social capital in the classroom, which occurs when and if…

  6. School Leadership that Builds Teacher Social Capital

    Science.gov (United States)

    Minckler, Cheri Hoff

    2014-01-01

    This quantitative study explores the relationship between school leadership and the development and sustenance of teacher social capital. The literature review discusses aspects of leadership theory to elucidate understanding of how leadership influences teachers' working relationships. Quantitative methodology and analyses ascertain the…

  7. Project Selection Directed By Intellectual Capital Scorecards

    NARCIS (Netherlands)

    H.A.M. Daniels (Hennie); B. de Jonge

    2003-01-01

    textabstractManagement of intellectual capital is an important issue in knowledge intensive organizations. Part of this is the composition of the optimal project portfolio the organization will carry out in the future. Standard methods that guide this process mostly focus on project selection on the

  8. Social capital and trust in providers.

    Science.gov (United States)

    Ahern, Melissa M; Hendryx, Michael S

    2003-10-01

    Trust in providers has been in decline in recent decades. This study attempts to identify sources of trust in characteristics of health care systems and the wider community. The design is cross-sectional. Data are from (1) the 1996 Household Survey of the Community Tracking Study, drawn from 24 Metropolitan Statistical Areas; (2) a 1996 multi-city broadcast media marketing database including key social capital indicators; (3) Interstudy; (4) the American Hospital Association; and (5) the American Medical Association. Independent variables include individual socio-demographic variables, HMO enrollment, community-level health sector variables, and social capital. The dependent variable is self-reported trust in physicians. Data are merged from the various sources and analyzed using SUDAAN. Subjects include adults in the Household Survey who responded to the items on trust in physicians (N=17,653). Trust in physicians is independently predicted by community social capital (p<0.001). Trust is also negatively related to HMO enrollment and to many individual characteristics. The effect of HMOs is not uniform across all communities. Social capital plays a role in how health care is perceived by citizens, and how health care is delivered by providers. Efforts to build trust and collaboration in a community may improve trust in physicians, health care quality, access, and preserve local health care control.

  9. Human Capital Theory: A Holistic Criticism

    Science.gov (United States)

    Tan, Emrullah

    2014-01-01

    Human capital theory has had a profound impact on a range of disciplines from economics to education and sociology. The theory has always been the subject of bitter criticisms from the very beginning, but it has comfortably survived and expanded its influence over other research disciplines. Not surprisingly, a considerable number of criticisms…

  10. Earnings progression, human capital and incentives

    DEFF Research Database (Denmark)

    Frederiksen, Anders

    progression by investigating the effects of on-the-job human capital acquisition, explicit short-run incentives and career concern incentives on earnings progression. The model leads to predictions about the incentive structure and the progression in both cross-sectional and individual earnings which...

  11. Property segment and REIT capital structure

    NARCIS (Netherlands)

    Ertugrul, M.; Giambona, E.

    2011-01-01

    This paper relies on an increasing number of industry equilibrium studies linking a firm to its industry peers to help explain the observed REIT capital structure variation within property segments beyond what is possible with the traditional partial equilibrium trade-off and pecking order theories,

  12. Property segment and REIT capital structure

    NARCIS (Netherlands)

    Ertugrul, M.; Giambona, E.

    2008-01-01

    This paper relies on an increasing number of industry equilibrium studies linking a firm to its industry peers to help ; explain the observed REIT capital structure variation within property segments beyond what is possible with the ; traditional partial equilibrium trade-off and pecking order theor

  13. China to Gradually Make Capital Account Convertible

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    @@ China is pushing forward its currency Renminbi (RMB)'s capital account convertibility gradually and in a stable manner, said an official with the State Administration of Foreign Exchange (SAFE), ruling out both an adventurous leap and conservative cautiousness, according to a report of Xinhua on April 12.

  14. China to Gradually Make Capital Account Convertible

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

      China is pushing forward its currency Renminbi (RMB)'s capital account convertibility gradually and in a stable manner, said an official with the State Administration of Foreign Exchange (SAFE), ruling out both an adventurous leap and conservative cautiousness, according to a report of Xinhua on April 12.……

  15. Developing Functional Networks of Frontier Capital Markets

    Science.gov (United States)

    2011-10-01

    capital. As Stiglitz and Gallegati (2011) note, “Some network designs may be good at absorbing small shocks, when there can be systemic failure when...functions in innovative ways. 3 Stiglitz , Joseph E. and Mauro Gallegati, “Heterogeneous Interacting Agent Models for Understanding Monetary

  16. Alta Capital investeerib miljardeid kroone / Raigo Neudorf

    Index Scriptorium Estoniae

    Neudorf, Raigo

    2006-01-01

    Investeerimisfirma Alta Capital nõukogu esimees Indrek Rahumaa annab ülevaate sellest, kuidas ettevõte on lühikese ajaga suutnud omandada osaluse mitmetes ettevõtetes ning suunanud neisse investeeringuid 150 miljoni euro väärtuses. Vt. samas: Osalused; Omanikud

  17. Understanding Internal Capital Markets and Corporate Policies

    NARCIS (Netherlands)

    Cremers, M.; Huang, R.; Sautner, Z.

    2009-01-01

    This study looks inside a large retail-banking group to understand how corporate politics affect internal capital allocation. The group consists of a headquarters organization and about 150 member banks which own the headquarters. Our data is from the firm’s managerial accounting system and covers a

  18. Medicare's risk-adjusted capitation method.

    Science.gov (United States)

    Grimaldi, Paul L

    2002-01-01

    Since 1997, the method to establish capitation rates for Medicare beneficiaries who are members of risk-bearing managed care plans has undergone several important developments. This includes the factoring of beneficiary health status into the rate-setting calculations. These changes were expected to increase the number of participating health plans, accelerate Medicare enrollment growth, and slice Medicare spending.

  19. Business groups and internal capital markets

    NARCIS (Netherlands)

    Gonenc, Halit; Kan, Ozgur B.; Karadagli, Ece C.

    2007-01-01

    We compare the performance of firms affiliated with diversified business groups with the performance of unaffiliated firms in Turkey, all emerging market. We address the question of whether group-affiliated firms create internal capital markets or control large cash flows. Our findings indicate that

  20. Professional Development Seen as Employment Capital

    Science.gov (United States)

    Mackay, Margaret

    2017-01-01

    Practitioners need to invest in professional development to enhance credibility, job security and employment prospects. Employer expectations of continuing development as a performance measure link to the notion of career capital; namely that knowledge competence influences job advancement. This study uses an interpretivist approach to explore…

  1. THE PRESENTATION OF THE CAPITAL IN FINANCIAL STATEMENTS. THE CONCEPT OF MAINTAINING CAPITAL

    Directory of Open Access Journals (Sweden)

    ANNEE-MARIE GRECEA

    2012-05-01

    Full Text Available The general framework of preparation and presentation of the financial statements as the national legislation, formulates a residual definitionof equity, respectively the right of the shareholders on the assets of anentity after deducting all debts. Thus equity represent the equivalentvalue of inputs which the company must not provide goods or services to a third party. The concept of capital is synonymous with net assets or equity of the company.In the same time, the capital of the company can be addressed through the other two concepts: maintaining financial capital and maintaining physical capital. The selection of one of the two variants has to be realized by the company starting from information users necessities.

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

    Directory of Open Access Journals (Sweden)

    Cuevas Homero

    1996-06-01

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

  3. A Survey of Working Capital Policy among Small Manufacturing Firms

    OpenAIRE

    Burns, Richard; Walker, Joe

    1991-01-01

    This study reports results of a nationwide survey on overall working capital policy of small manufacturing firms. The survey instrument used was a modified version of the 1980 Smith and Sell study [18] on large firms. A detailed 36-question form queried firms on their overall working capital policies as well as on the management of the components of working capital. Statistically significant measures of association between working capital policies and tools were found among many of the variab...

  4. STRENGTHENING COMPANY IMAGE IN SERVICE SECTOR BY IMPROVING RELATIONAL CAPITAL

    OpenAIRE

    Jamila Jaganjac

    2016-01-01

    This paper aims to contribute to the theoretical model of managing intellectual capital with an emphasis on the relational capital. Relational capital is especially relevant in the service sector, where differentiation is mostly based on non-price competition. Development of relational capital which strengthens the image through satisfaction of internal and external users encourages innovation and allows each process to be enriched with new knowledge. To illustrate this concept, the paper ...

  5. CAPITAL ACCOUNT LIBERALIZATION AND ECONOMIC PERFORMANCE IN MALAYSIA

    OpenAIRE

    SIONG HOOK LAW; Azman-Saini, W.N.W.

    2013-01-01

    This study examines the impact of capital account liberalization on economic growth in Malaysia from 1970 to 2004. It uses two measures of capital account openness, namely de jure (an index of liberalization) and de facto (the volume of capital flows). The empirical results based on the modified growth model demonstrate that the de jure measure of capital account liberalization shows an adverse effect on growth in Malaysia. However, the de facto measure shows a robust positive effect on econo...

  6. EFFECTS OF RAISING CAPITAL ON FINANCIAL INDICATORS OF THE COMPANY

    Directory of Open Access Journals (Sweden)

    Gheorghe NEGOESCU

    2014-06-01

    Full Text Available The financial consequences of growth capital are different depending of accomplishing technical. In these circumstances the General Meeting of Shareholders decide to increase capital. The decision depends on the effect of increasing the potential financial capital, financial stability and financial structure of the company. Next, I will present the financial consequences of growth capital to a company profile in the petrochemical industry.

  7. Intangible and Intellectual Capital: A Review of the Literature

    OpenAIRE

    Elizabeth Webster

    2002-01-01

    This paper reviews theoretical and empirical academic economic studies that discuss what is intangible and intellectual capital and why is it important for society. It begins by discussing issues such as the nature of this capital and how has it changed over time. Subsequently it reviews measures of the importance of intangible and intellectual capital, whether optimal levels of investment in intangible and intellectual capital can be said to exist and, accordingly, whether governments should...

  8. Influence of Workforce Ageing on Human Capital Formation

    OpenAIRE

    Stonawski, M.

    2008-01-01

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

  9. The Determinants of Capital Structure: Some Evidence from Banks

    OpenAIRE

    Heider, Florian; Gropp, Reint

    2008-01-01

    This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of large banks in the United States and Europe. We find a remarkable consistency in sign, significance and economic magnitude. Like non-financial firms, banks appear to have stable capital structures at levels that are specific to each individual bank. The results suggest that capital requirements may only be of second-order importance for banks’ capital structures and confirm ...

  10. 12 CFR 5.46 - Changes in permanent capital.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Changes in permanent capital. 5.46 Section 5.46... capital. (a) Authority. 12 U.S.C. 21a, 51, 51a, 51b, 51b-1, 52, 56, 57, 59, 60, and 93a. (b) Licensing... capital. Generally, a national bank need only submit a notice to increase its permanent capital,...

  11. Managing intellectual capital in libraries beyond the balance sheet

    CERN Document Server

    Kostagiolas, Petros

    2012-01-01

    In the knowledge economy, professionals have to make decisions about non-tangible, non-monetary, and largely invisible resources. Information professionals need to understand the potential uses, contributions, value, structure, and creation of broadly intangible intellectual capital in libraries. In order to fully realize intellectual capital in libraries, new practices and skills are required for library management practitioners and researchers.Managing Intellectual Capital in Libraries provides research advances, guidelines, methods and techniques for managing intellectual capital in a libra

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

    OpenAIRE

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

    2007-01-01

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

  13. Viability and the Development of China's Capital Markets

    Institute of Scientific and Technical Information of China (English)

    JustinYifuLin

    2004-01-01

    The paper analyzes the abnormal phenomena in China's capital markets and provides a critical review of the existing hypotheses about the phenomena. The paper argues that thelack of “viability” among most of the listed SOEs is the primary cause of the problems in China's capital markets. The paper also applies a consistent framework to analyze the relationship among viability, SOEs and the capital markets, and makes some policy proposals for improving China's capital markets.

  14. Changing domains in human capital measurement

    Directory of Open Access Journals (Sweden)

    Pharny D. Chrysler-Fox

    2014-02-01

    Full Text Available Orientation: The management context is dynamic; this is especially evident in human capital as the primary source of value creation as opposed to physical and natural resources. In response, measurement methodologies have moved from a transactional approach (strategy implementation to a transformational approach (human capital contribution paradigm, as well as diverging into different purposes. To date, there has been little overlap on recent domains to consider in managing and measuring the contribution of the human resource function and employees, and how to unlock and add value.Research purpose: The aim of the study was to explore and describe changing domains within human capital management to be managed and measured.Motivation for the study: The motivation was to advance the understanding of changing measurement domains to aid practitioners to manage and measure the contribution of the human resource function and employees, in order to unlock and add value and ultimately contribute to the success of an organisation.Research design, approach and method: Unstructured, in-depth interview data of purposively selected cases from a selected panel of human resource practitioners specialising in human capital measurement was thematically analysed in this exploratory-descriptive investigation.Main findings: Findings suggested that seven domains should be managed and measured. These domains highlight new areas of impact and levels of management. In addition, crossdomain relationships in measurement allow for an understanding of the impact and potential value on which to capitalise.Practical/managerial implications: New domains to manage and measure focus the attention of practitioners beyond the transactional performance management paradigm to a transformational approach to influence the business strategy. Higher education institutions need to develop students’ cognitive skills to facilitate systems thinking.Contribution: This study suggests a new

  15. 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.

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

    OpenAIRE

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

    2007-01-01

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

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

    Directory of Open Access Journals (Sweden)

    NEAGU OLIMPIA

    2012-12-01

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

  18. Levels of social capital in internationalization: a view on smaller firms and entrepreneurs

    DEFF Research Database (Denmark)

    Decker, Arnim

    2016-01-01

    This contribution introduces the notion of social capital and discusses integration into the studies on internationalization of smaller firms and entrepreneurs. Integrating social capital into the resource based perspective, we categorize social capital at three levels: firstly, social capital can...

  19. Social Capital as Exchange: Its Contribution to Morale

    Science.gov (United States)

    Cheung, Chau-kiu; Chan, Raymond Kwok-hong

    2010-01-01

    A way to clarify the measurement of social capital is the differentiation of its bases on opportunity and exchange. Social capital based on opportunity incorporates organizational participation, network strength, trust, helping and continuing relationships, whereas social capital based on exchange consists of the investment and reciprocation of…

  20. Can capital income taxes survive? And should they?

    DEFF Research Database (Denmark)

    Sørensen, Peter Birch

    2007-01-01

    The article surveys some main results in the theory of capital income taxation in the open economy; reviews recent trends in international taxation and discusses alternative blueprints for fundamental capital income tax reform from the perspective of an open economy faced with growing mobility...... of capital income tax bases...

  1. Can Capital Income Taxes Survive? And Should They?

    DEFF Research Database (Denmark)

    Sørensen, Peter Birch

    The paper surveys some main results in the theory of capital income taxation in the open economy; reviews recent trends in international taxation, and discusses alternative blueprints for fundamental capital income tax reform from the perspective of an open economy faced with growing mobility...... of capital income tax bases...

  2. Intellectual Capital Import for the Benefit of Higher Education

    Science.gov (United States)

    Brenca, Airita; Gravite, Aija

    2013-01-01

    The article explores the role of intellectual capital in the development of higher education system. The description of economic and marketing values of intellectual capital demonstrates its importance for an institution's establishing in education market. Import and export of intellectual capital is a reality of globalisation processes, and it is…

  3. 77 FR 5750 - Major Capital Investment Projects (NPRM); Public Meetings

    Science.gov (United States)

    2012-02-06

    ... Federal Transit Administration 49 CFR Part 611 RIN 2132-AB02 Major Capital Investment Projects (NPRM... Major Capital Investment Projects at 49 CFR 611. The docket for comments on the NPRM is open through... Transit Administration (FTA) for its discretionary Major Capital Investments program (``New Starts''...

  4. A Review of Current Studies on Human Capital

    Institute of Scientific and Technical Information of China (English)

    黄思雅

    2012-01-01

      This paper introduces some previous studies on human capital, mainly regarding human capital’s properties and its relationship with corporate performance and capital structure. This study shows the importance of human capital and suggests that managers should pay more attention to employees.

  5. Steering Capital: Optimizing Financial Support for Innovation in Public Education

    Science.gov (United States)

    Smith, Kim; Petersen, Julie

    2011-01-01

    This paper revisits the central question of how to improve the provision of capital for entrepreneurial change in public education, but emphasizes the innovation ecosystem that surrounds the capital markets. The authors consider capital as one of the most important levers individuals need to align in this innovation ecosystem, but as a force that…

  6. 12 CFR 263.83 - Issuance of capital directives.

    Science.gov (United States)

    2010-01-01

    ... established in the Board's Capital Adequacy Guidelines, or as otherwise established under the procedures... Capital Adequacy Guidelines or the procedures in § 263.85 of this subpart by a certain date; (2) Adhere to... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Issuance of capital directives. 263.83...

  7. 12 CFR 567.9 - Tangible capital requirement.

    Science.gov (United States)

    2010-01-01

    ... subsidiary with those of the parent savings association in calculating the capital adequacy of the parent... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Tangible capital requirement. 567.9 Section 567.9 Banks and Banking OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY CAPITAL...

  8. 78 FR 76521 - Risk-Based Capital Guidelines; Market Risk

    Science.gov (United States)

    2013-12-18

    ... capital adequacy and risk profile. In those cases, a banking organization must disclose the general nature... no longer reflective of the bank's capital adequacy and risk profile, then a brief discussion of this... definition of ``Covered position'' to read as follows: Appendix E to Part 225--Capital Adequacy...

  9. Measurement and Application of Intellectual Capital in Turkey

    Science.gov (United States)

    Bozbura, F. Tunc

    2004-01-01

    The purpose of this paper is to define the elements of intellectual capital of firms in Turkey and to empirically investigate the relationship between intellectual capital and market value of firms in Istanbul Stock Exchange. To create a suitable intellectual capital measurement model for this study, a wide literature research was made. In almost…

  10. 75 FR 16894 - Railroad Cost of Capital-2009

    Science.gov (United States)

    2010-04-02

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

  11. Political regime and human capital : A cross-country analysis

    NARCIS (Netherlands)

    Klomp, J.G.; de Haan, J.

    2013-01-01

    We examine the relationship between different dimensions of the political regime in place and human capital using a two-step structural equation model. In the first step, we employ factor analysis on 16 human capital indicators to construct two new human capital measures (basic and advanced human ca

  12. Political regime and human capital: A cross-country analysis

    NARCIS (Netherlands)

    Klomp, J.G.; Haan, de J.

    2013-01-01

    We examine the relationship between different dimensions of the political regime in place and human capital using a two-step structural equation model. In the first step, we employ factor analysis on 16 human capital indicators to construct two new human capital measures (basic and advanced human ca

  13. Inequality in Access to Social Capital in the Netherlands

    NARCIS (Netherlands)

    van Tubergen, F.A.|info:eu-repo/dai/nl/271429534; Volker, Beate|info:eu-repo/dai/nl/141888237

    2015-01-01

    Whereas much research has been done on the benefits of social capital, less is known about the causes of the unequal distribution of social capital in people’s networks. This study examines inequalities in access to social capital in terms of the socio-economic resources that are embedded in persona

  14. 12 CFR 932.2 - Total capital requirement.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Total capital requirement. 932.2 Section 932.2 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL... assets; and (2) A leverage ratio of total capital to total assets of at least 5.0 percent of the...

  15. 76 FR 10430 - Railroad Cost of Capital-2010

    Science.gov (United States)

    2011-02-24

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

  16. 26 CFR 1.1247-3 - Treatment of capital gains.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Treatment of capital gains. 1.1247-3 Section 1... (CONTINUED) INCOME TAXES Special Rules for Determining Capital Gains and Losses § 1.1247-3 Treatment of capital gains. (a) Treatment by the company—(1) In general. If an election to distribute income...

  17. 17 CFR 256.211 - Miscellaneous paid-in capital.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Miscellaneous paid-in capital. 256.211 Section 256.211 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION... capital. This account shall include the balance of all other credits for paid-in capital which are...

  18. 77 FR 6625 - Railroad Cost of Capital-2011

    Science.gov (United States)

    2012-02-08

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

  19. 78 FR 13933 - Railroad Cost of Capital-2012

    Science.gov (United States)

    2013-03-01

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

  20. 47 CFR 32.4520 - Additional paid-in capital.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Additional paid-in capital. 32.4520 Section 32... Additional paid-in capital. (a) This account shall include the difference between the net proceeds (including discount, premium and stock issuance expense) received from the issuance of capital stock and the...

  1. 12 CFR 1206.5 - Working capital fund.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Working capital fund. 1206.5 Section 1206.5... Working capital fund. (a) Assessments. The Director shall establish and collect from the Regulated Entities such assessments he or she deems necessary to maintain a working capital fund. (b)...

  2. 12 CFR 5.47 - Subordinated debt as capital.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Subordinated debt as capital. 5.47 Section 5.47... capital. (a) Authority. 12 U.S.C. 93a. (b) Licensing requirements. A national bank does not need prior OCC... Tier 2 or Tier 3 capital. However, a bank issuing subordinated debt shall notify the OCC after...

  3. 78 FR 45592 - DeltaPoint Capital IV, LP;

    Science.gov (United States)

    2013-07-29

    ... ADMINISTRATION DeltaPoint Capital IV, LP; Notice Seeking Exemption Under Section 312 of the Small Business Investment Act, Conflicts of Interest Notice is hereby given that DeltaPoint Capital IV, L.P., 45 East Avenue... Business Administration (``SBA'') Rules and Regulations (13 CFR 107.730). DeltaPoint Capital IV,...

  4. Measuring Social Capital among Youth: Applications in Environmental Education

    Science.gov (United States)

    Krasny, Marianne E.; Kalbacker, Leigh; Stedman, Richard C.; Russ, Alex

    2015-01-01

    Although critiqued for circular reasoning and lack of definitional and analytic clarity, social capital has garnered widespread interest in two areas relevant to environmental education (EE): the impact of family and community-level social capital on positive youth development and of community-level social capital in fostering collective action to…

  5. 10 CFR 503.35 - Inability to obtain adequate capital.

    Science.gov (United States)

    2010-01-01

    ... capital investment, through tariffs, without unreasonably adverse economic effect on its service area... 10 Energy 4 2010-01-01 2010-01-01 false Inability to obtain adequate capital. 503.35 Section 503... New Facilities § 503.35 Inability to obtain adequate capital. (a) Eligibility. Section 212(a)(1)(D)...

  6. 48 CFR 215.404-71-4 - Facilities capital employed.

    Science.gov (United States)

    2010-10-01

    ... encouraging and rewarding capital investment in facilities that benefit DoD. It recognizes both the facilities... anticipated industrial base enhancing benefits resulting from the facilities capital investment, including— (A... investment recovery, such as termination protection clauses and capital investment indemnification. (2)...

  7. 24 CFR 891.145 - Owner deposit (Minimum Capital Investment).

    Science.gov (United States)

    2010-04-01

    ... General Program Requirements § 891.145 Owner deposit (Minimum Capital Investment). As a Minimum Capital... Investment shall be one-half of one percent (0.5%) of the HUD-approved capital advance, not to exceed $25,000. ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Owner deposit (Minimum...

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

    Science.gov (United States)

    Leeves, Gareth D.

    2014-01-01

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

  9. Internal capital markets: The bright side of corporate politics

    NARCIS (Netherlands)

    Cremers, M.; Huang, R.; Sautner, Z.

    2008-01-01

    This study looks inside the internal capital market of a large retail-banking group to study how internal corporate politics affect internal capital allocation. Our data is from the firm's managerial accounting system and covers all cash flows, internal capital transfers, and investments at the loca

  10. Achievements of Capital Construction of Onshore Petroleum Industry

    Institute of Scientific and Technical Information of China (English)

    Jia Jinhui

    1994-01-01

    @@ In 40 years since the founding of new China,the capital construction of onshore petroleum was greatly developed, a capital construction system with rational structure and complete specialities was formed, and a capital construction battalion for petroleum with high technical quality was established.

  11. Social capital of venture capitalists and start-up funding

    NARCIS (Netherlands)

    O.T. Alexy (Oliver); J.H. Block (Jörn); P.G. Sandner (Philipp); A.L.J. Ter Wal (Anne)

    2012-01-01

    textabstractHow does the social capital of venture capitalists (VCs) affect the funding of start-ups? By building on the rich social capital literature, we hypothesize a positive effect of VCs' social capital, derived from past syndication, on the amount of money that start-ups receive. Specifically

  12. 12 CFR 704.3 - Corporate credit union capital.

    Science.gov (United States)

    2010-01-01

    ... in capital inadequacy; (ii) Significant exposure exists, unsupported by adequate capital or risk management processes, due to credit, liquidity, market, fiduciary, operational, and similar types of risks... of sufficient capital to support the risk exposures that may arise from current and...

  13. 17 CFR 240.17i-7 - Calculations of allowable capital and risk allowances or alternative capital assessment.

    Science.gov (United States)

    2010-04-01

    ...)(1) and (a)(2) of this section: (i) Cumulative preferred stock in excess of the 33% limit specified... Supervision in International Convergence of Capital Measurement and Capital Standards (July 1988), as...

  14. EFEITOS DO CAPITAL INTELECTUAL SOBRE O DESEMPENHO FINANCEIRO EM COMPANHIAS DE CAPITAL ABERTO

    Directory of Open Access Journals (Sweden)

    Maria Margarete Baccin Brizolla

    2015-06-01

    Full Text Available O objetivo deste estudo foi identificar a influência do Capital Intelectual, medido pelo Valor agregado do Capital Intelectual (VACI sobre o desempenho financeiro em companhias de capital aberto. A classificação do estudo no que se refere aos objetivos é uma pesquisa descritiva, em relação aos procedimentos classifica-se como documental e a abordagem refere-se à análise quantitativa. A investigação que permeia este estudo envolve as características relacionadas ao capital intelectual, em 166 companhias listadas na BM&FBovespa, compondo a amostra no período de 2013. Os dados foram coletados na base de dados Economática®. Quanto à técnica estatística foi utilizada a Correlação Canônica. Os resultados da pesquisa demonstram que o capital intelectual influência significativamente o desempenho financeiro, em companhias de capital aberto.

  15. High political participation, high social capital? A relational analysis of youth social capital and political participation.

    Science.gov (United States)

    Teney, Celine; Hanquinet, Laurie

    2012-09-01

    Social capital has been alleged to increase the capacity for political mobilization. Yet, until now, the empirical debate has not succeeded in rendering a detailed account of the relationships between social capital and political participation partly because of the use of a reductive conception and operationalization of both concepts. Using a multidimensional and relational technique (multiple correspondence analysis) and a detailed youth survey data from Belgium, the article demonstrates that youth draw on diverse forms of social capital and that these forms vary along socio-economic status and ethnic origin. Six classes based on the forms of social capital were identified. Two of them - the 'Committed' and 'Religious' are highly political active. The 'Committed' Class, based on a diversified social capital, consists mainly of non-immigrant youth with a high socio-economic background undertaking a large diversity of political activities. The 'Religious' Class, based on a narrow social capital built around religious activities, is mostly composed of ethnic minority youth with a low SES involved in more specific political activities.

  16. Intellectual capital and relational capital: The role of sustainability in developing corporate reputation Intellectual capital and relational capital: The role of sustainability in developing corporate reputation Intellectual capital and relational capital: The role of sustainability in developing corporate reputation

    Directory of Open Access Journals (Sweden)

    Ignacio Rodríguez del Bosque

    2013-01-01

    Full Text Available Purpose: Intellectual capital offers a potential source of sustainable competitive advantage and is believed to be the source from which economic growth may sprout. However, not many papers analyze the effect of sustainability in the elements involving intellectual capital. This paper seeks to highlight the key role played by corporate sustainability on corporate reputation as one of the key components of relational capital based on the knowledge-based theory.Design/methodology/approach: Authors develop a structural equation model to test the hypothesis. The study was tested using data collected from a sample of 400 Spanish consumers.Findings: The structural equation model shows that sustainability plays a vital role as antecedent of corporate reputation and relational capital. Findings suggest that economic, social and environmental domains of sustainability have a positive direct effect on corporate reputation. Additionally, this study shows that economic sustainability is considered to be the most important dimension to enhance corporate reputation.Research limitations/implications: The complicated economic environment currently experienced worldwide may affect the perceptions of Spanish consumers and their ratings. The crosscutting nature of this research inhibits an understanding of the variations in the perceptions of the customers surveyed over time, suggesting that this research could be expanded by a longitudinal study. Finally, the current study has been conducted with consumers of hotel companies in Spain and it is not clear in how far the findings can be generalized to other industries, stakeholders or countries.Practical implications: This research allows managers to identify the activities in which companies can devote resources to in order to increase firm´s reputation. By knowing these specific economic, social and environmental activities, companies can understand, analyze and make decisions in a better way about its sector and

  17. Deconstructing the Transfer Student Capital: Intersect between Cultural and Social Capital among Female Transfer Students in STEM Fields

    Science.gov (United States)

    Starobin, Soko S.; Smith, Dimitra Jackson; Laanan, Frankie Santos

    2016-01-01

    This qualitative study explored the experiences of female transfer students majoring in STEM areas at a midwestern university by highlighting the role of Transfer Student Capital in their academic and social adjustment. The authors further deconstructed the notion of Transfer Student Capital by looking at how cultural and social capital intersect…

  18. Indicators of Youth Social Capital: The Case for Not Using Adult Indicators in the Measurement of Youth Social Capital

    Science.gov (United States)

    Billett, Paulina

    2012-01-01

    Social capital is a difficult concept to define, and the task of defining the social capital of youth is even more complicated. The concept has not only been poorly researched but is also imperfectly understood. This article examines the problems faced in the use of adult indicators in youth social capital research and explores current…

  19. Review of capital investment in economic growth cycle

    Science.gov (United States)

    Shaffie, Siti Salihah; Jaaman, Saiful Hafizah; Mohamad, Daud

    2016-11-01

    The study of linkages of macroeconomics factors is prominent in order to understand how the economic cycle affects one another. These factors include interest rate, growth rate, saving and capital investment which are mutually correlated to stabilize the GDP. Part of this study, it will look upon the impact of investment which emphasize the efficiency of capital investment to the economic growth. Capital investment is one investment appraisal that gives impact to the economic growth. It is a long term investment and involve with large amount of capital to incorporate the development of private and public capital investment.

  20. State-capitalism and Globalization – a challenge to whom?

    Directory of Open Access Journals (Sweden)

    Dr.Sc. Henrique Schneider

    2012-12-01

    Full Text Available State-capitalism is an economic system in which governments manipulate market outcomes for political purposes. Governments embrace state-capitalism because it serves political as well as economic purposes—not because it’s the most efficient means of generating prosperity. This paper examines the institutional, economic and social combination in which state-capitalism is possible and contributes to prosperity. It is argues that state-capitalism works best under authoritarian rule because there is no constituency to provide for. However, this article also argues that state-capitalism has fundamental flaws