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Sample records for cash transfer programme

  1. Effect of Brazil's conditional cash transfer programme on tuberculosis incidence.

    Science.gov (United States)

    Nery, J S; Rodrigues, L C; Rasella, D; Aquino, R; Barreira, D; Torrens, A W; Boccia, D; Penna, G O; Penna, M L F; Barreto, M L; Pereira, S M

    2017-07-01

    To evaluate the impact of the Brazilian cash transfer programme (Bolsa Família Programme, BFP) on tuberculosis (TB) incidence in Brazil from 2004 to 2012. We studied tuberculosis surveillance data using a combination of an ecological multiple-group and time-trend design covering 2458 Brazilian municipalities. The main independent variable was BFP coverage and the outcome was the TB incidence rate. All study variables were obtained from national databases. We used fixed-effects negative binomial models for panel data adjusted for selected covariates and a variable representing time. After controlling for covariates, TB incidence rates were significantly reduced in municipalities with high BFP coverage compared with those with low and intermediate coverage (in a model with a time variable incidence rate ratio = 0.96, 95%CI 0.93-0.99). This was the first evidence of a statistically significant association between the increase in cash transfer programme coverage and a reduction in TB incidence rate. Our findings provide support for social protection interventions for tackling TB worldwide.

  2. Social acceptability and perceived impact of a community-led cash transfer programme in Zimbabwe.

    Science.gov (United States)

    Skovdal, Morten; Mushati, Phyllis; Robertson, Laura; Munyati, Shungu; Sherr, Lorraine; Nyamukapa, Constance; Gregson, Simon

    2013-04-15

    Cash transfer programmes are increasingly recognised as promising and scalable interventions that can promote the health and development of children. However, concerns have been raised about the potential for cash transfers to contribute to social division, jealousy and conflict at a community level. Against this background, and in our interest to promote community participation in cash transfer programmes, we examine local perceptions of a community-led cash transfer programme in Eastern Zimbabwe. We collected and analysed data from 35 individual interviews and three focus group discussions, involving 24 key informants (community committee members and programme implementers), 24 cash transfer beneficiaries, of which four were youth, and 14 non-beneficiaries. Transcripts were subjected to thematic analysis and coding to generate concepts. Study participants described the programme as participatory, fair and transparent - reducing the likelihood of jealousy. The programme was perceived to have had a substantial impact on children's health and education, primarily through aiding parents and guardians to better cater for their children's needs. Moreover, participants alluded to the potential of the programme to facilitate more transformational change, for example by enabling families to invest money in assets and income generating activities and by promoting a community-wide sense of responsibility for the support of orphaned and vulnerable children. Community participation, combined with the perceived impact of the cash transfer programme, led community members to speak enthusiastically about the programme. We conclude that community-led cash transfer programmes have the potential to open up for possibilities of participation and community agency that enable social acceptability and limit social divisiveness.

  3. Cash transfer programme, productive activities and labour supply: Evidence from randomized experiment in Kenya

    Science.gov (United States)

    Asfaw, Solomon; Davis, Benjamin; Dewbre, Josh; Handa, Sudhanshu; Winters, Paul

    2015-01-01

    This paper reports analysis of the impact of Kenya’s Cash Transfer for Orphans and Vulnerable Children Programme on the household decisions on productive activities using data from a randomized experimental design. Results show that the programme had a positive and significant impact on food consumption coming from home production, accumulation of productive assets, especially on the ownership of small livestock and on formation of nonfarm enterprise, especially for females. The programme has provided more flexibility to families in terms of labour allocation decisions, particularly for those who are geographically isolated. The programme was also found to have reduced child labour, an important objective of the programme. However we find very little impact of the programme on direct indicators of crop production. PMID:25663712

  4. Effects of a conditional cash transfer programme on child nutrition in Brazil

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    Paes-Sousa, Rômulo; Miazaki, Édina Shisue

    2011-01-01

    Abstract Objective To examine the association between Brazil’s Bolsa Familia programme (BFP), which is the world's largest conditional cash transfer programme, and the anthropometric indicators of nutritional status in children. Methods Using the opportunity provided by vaccination campaigns, the Brazilian government promotes Health and Nutrition Days to estimate the prevalence of anthropometric deficits in children. Data collected in 2005–2006 for 22 375 impoverished children under 5 years of age were employed to estimate nutritional outcomes among recipients of Bolsa Família. All variables under study, namely child birth weight, lack of birth certificate, educational level and gender of family head, access to piped water and electricity, height for age, weight for age and weight for height, were converted into binary variables for regression analysis. Findings Children from families exposed to the BFP were 26% more likely to have normal height for age than those from non-exposed families; this difference also applied to weight for age. No statistically significant deficit in weight for height was found. Stratification by age group revealed 19% and 41% higher odds of having normal height for age at 12–35 and 36–59 months of age, respectively, in children receiving Bolsa Familia, and no difference at 0–11 months of age. Conclusion The BFP can lead to better nutritional outcomes in children 12 to 59 months of age. Longitudinal studies are needed to confirm these findings. PMID:21734763

  5. Health effects of 'Juntos', a conditional cash transfer programme in Peru.

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    Pérez-Lu, José E; Cárcamo, Cesar; Nandi, Arijit; Kaufman, Jay S

    2017-07-01

    In some countries, conditional cash transfer (CCT) programmes show an impact on maternal and child health. Juntos, the CCT programme in Peru, has been evaluated several times operationally, but seldom for maternal and child health outcomes. The objective of this study is to evaluate the impact of Juntos on children under 6 years, pregnant women and mothers of children under 17 years. Outcomes evaluated included (1) anaemia in women and children; (2) acute malnutrition in children; (3) post-partum complications in mothers; and (4) underweight and overweight in mothers. We identified Juntos eligible respondents from the Demographic and Health Surveys of Peru for years 2007 to 2013. Propensity score matching was used to identify comparable treatment and control groups, including eligible respondents enrolled in Juntos vs. those not enrolled in Juntos (individual-level analysis), as well as eligible respondents living in Juntos districts vs. those not residing in Juntos districts (district-level analysis). We then used generalized linear models to estimate prevalence ratios. Individual level analysis showed that Juntos reduced underweight in women (PR:0.39, 95%CI:0.18 - 0.85) and anaemia in children (PR:0.93, 95%CI:0.86 - 1.00). In the district level analysis, the programme was associated with a reduction of overweight in women (PR:0.94, 95%CI:0.90 - 0.98) and acute malnutrition in children (PR:0.49, 95%CI:0.32 - 0.73), but an increase in the prevalence of anaemia in children (PR:1.09, 95%CI:1.01 - 1.17). We found that Juntos had an effect on maternal and child health indicators, but further studies are required to overcome some limitations encountered here. © 2016 John Wiley & Sons Ltd.

  6. Time Discounting and Credit Market Access in a Large-Scale Cash Transfer Programme

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    Handa, Sudhanshu; Martorano, Bruno; Halpern, Carolyn; Pettifor, Audrey; Thirumurthy, Harsha

    2017-01-01

    Summary Time discounting is thought to influence decision-making in almost every sphere of life, including personal finances, diet, exercise and sexual behavior. In this article we provide evidence on whether a national poverty alleviation program in Kenya can affect inter-temporal decisions. We administered a preferences module as part of a large-scale impact evaluation of the Kenyan Government’s Cash Transfer for Orphans and Vulnerable Children. Four years into the program we find that individuals in the treatment group are only marginally more likely to wait for future money, due in part to the erosion of the value of the transfer by inflation. However among the poorest households for whom the value of transfer is still relatively large we find significant program effects on the propensity to wait. We also find strong program effects among those who have access to credit markets though the program itself does not improve access to credit. PMID:28260842

  7. Time Discounting and Credit Market Access in a Large-Scale Cash Transfer Programme.

    Science.gov (United States)

    Handa, Sudhanshu; Martorano, Bruno; Halpern, Carolyn; Pettifor, Audrey; Thirumurthy, Harsha

    2016-06-01

    Time discounting is thought to influence decision-making in almost every sphere of life, including personal finances, diet, exercise and sexual behavior. In this article we provide evidence on whether a national poverty alleviation program in Kenya can affect inter-temporal decisions. We administered a preferences module as part of a large-scale impact evaluation of the Kenyan Government's Cash Transfer for Orphans and Vulnerable Children. Four years into the program we find that individuals in the treatment group are only marginally more likely to wait for future money, due in part to the erosion of the value of the transfer by inflation. However among the poorest households for whom the value of transfer is still relatively large we find significant program effects on the propensity to wait. We also find strong program effects among those who have access to credit markets though the program itself does not improve access to credit.

  8. [The impact of conditional cash transfers on health status: the Brazilian Bolsa Familia Programme].

    Science.gov (United States)

    Rivera Castiñeira, Berta; Currais Nunes, Luis; Rungo, Paolo

    2009-01-01

    Conditional cash transfers are becoming the standard approach to reducing poverty levels; the Brazilian Bolsa Familia Program, in particular, is the largest program of this kind, and the evaluation of its impact allows for drawing some interesting conclusions, which may apply to other countries. In this paper, the lack of positive results in terms of both health status and modification of unhealthy habits is underlined. Among different causes, which are discussed here, the existence of barriers on the supply side appears as the most important limitation for obtaining better results. The positive impact of this program on both education and poverty reduction however, allows for predicting improvements in health status in the long run.

  9. Cash transfers and domestic violence.

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    Hidrobo, Melissa; Fernald, Lia

    2013-01-01

    Violence against women is a major health and human rights problem yet there is little rigorous evidence as to how to reduce it. We take advantage of the randomized roll-out of Ecuador's cash transfer program to mothers to investigate how an exogenous increase in a woman's income affects domestic violence. We find that the effect of a cash transfer depends on a woman's education and on her education relative to her partner's. Our results show that for women with greater than primary school education a cash transfer significantly decreases psychological violence from her partner. For women with primary school education or less, however, the effect of a cash transfer depends on her education relative to her partner's. Specifically, the cash transfer significantly increases emotional violence in households where the woman's education is equal to or more than her partner's. Copyright © 2012 Elsevier B.V. All rights reserved.

  10. Cash transfers, maternal depression and emotional well-being: Quasi-experimental evidence from India's Janani Suraksha Yojana programme.

    Science.gov (United States)

    Powell-Jackson, Timothy; Pereira, Shreya K; Dutt, Varun; Tougher, Sarah; Haldar, Kaveri; Kumar, Paresh

    2016-08-01

    Maternal depression is an important public health concern. We investigated whether a national-scale initiative that provides cash transfers to women giving birth in government health facilities, the Janani Suraksha Yojana (JSY), reduced maternal depression in India's largest state, Uttar Pradesh. Using primary data on 1695 women collected in early 2015, our quasi-experimental design exploited the fact that some women did not receive the JSY cash due to administrative problems in its disbursement - reasons that are unlikely to be correlated with determinants of maternal depression. We found that receipt of the cash was associated with an 8.5% reduction in the continuous measure of maternal depression and a 36% reduction in moderate depression. There was no evidence of an association with measures of emotional well-being, namely happiness and worry. The results suggest that the JSY had a clinically meaningful effect in reducing the burden of maternal depression, possibly by lessening the financial strain of delivery care. They contribute to the evidence that financial incentive schemes may have public health benefits beyond improving uptake of targeted health services. Copyright © 2016 The Authors. Published by Elsevier Ltd.. All rights reserved.

  11. India's Conditional Cash Transfer Programme (the JSY) to Promote Institutional Birth: Is There an Association between Institutional Birth Proportion and Maternal Mortality?

    Science.gov (United States)

    Randive, Bharat; Diwan, Vishal; De Costa, Ayesha

    2013-01-01

    India accounts for 19% of global maternal deaths, three-quarters of which come from nine states. In 2005, India launched a conditional cash transfer (CCT) programme, Janani Suraksha Yojana (JSY), to reduce maternal mortality ratio (MMR) through promotion of institutional births. JSY is the largest CCT in the world. In the nine states with relatively lower socioeconomic levels, JSY provides a cash incentive to all women on birthing in health institution. The cash incentive is intended to reduce financial barriers to accessing institutional care for delivery. Increased institutional births are expected to reduce MMR. Thus, JSY is expected to (a) increase institutional births and (b) reduce MMR in states with high proportions of institutional births. We examine the association between (a) service uptake, i.e., institutional birth proportions and (b) health outcome, i.e., MMR. Data from Sample Registration Survey of India were analysed to describe trends in proportion of institutional births before (2005) and during (2006-2010) the implementation of the JSY. Data from Annual Health Survey (2010-2011) for all 284 districts in above- mentioned nine states were analysed to assess relationship between MMR and institutional births. Proportion of institutional births increased from a pre-programme average of 20% to 49% in 5 years (phigh institutional birth proportions that JSY has achieved are of themselves inadequate to reduce MMR. Other factors including improved quality of care at institutions are required for intended effect.

  12. The effects of a household conditional cash transfer programme on coverage and quality of antenatal care: a secondary analysis of Indonesia's pilot programme.

    Science.gov (United States)

    Triyana, Margaret; Shankar, Anuraj H

    2017-10-22

    To analyse the effectiveness of a household conditional cash transfer programme (CCT) on antenatal care (ANC) coverage reported by women and ANC quality reported by midwives. The CCT was piloted as a cluster randomised control trial in 2007. Intent-to-treat parameters were estimated using linear regression and logistic regression. Secondary analysis of the longitudinal CCT impact evaluation survey, conducted in 2007 and 2009. This included 6869 pregnancies and 1407 midwives in 180 control subdistricts and 180 treated subdistricts in Indonesia. ANC component coverage index, a composite measure of each ANC service component as self-reported by women, and ANC provider quality index, a composite measure of ANC service provided as self-reported by midwives. Each index was created by principal component analysis (PCA). Specific ANC component items were also assessed. The CCT was associated with improved ANC component coverage index by 0.07 SD (95% CI 0.002 to 0.141). Women were more likely to receive the following assessments: weight (OR 1.56 (95% CI 1.25 to 1.95)), height (OR 1.41 (95% CI 1.247 to 1.947)), blood pressure (OR 1.36 (95% CI 1.045 to 1.761)), fundal height measurements (OR 1.65 (95% CI 1.372 to 1.992)), fetal heart beat monitoring (OR 1.29 (95% CI 1.006 to 1.653)), external pelvic examination (OR 1.28 (95% CI 1.086 to 1.505)), iron-folic acid pills (OR 1.42 (95% CI 1.081 to 1.859)) and information on pregnancy complications (OR 2.09 (95% CI 1.724 to 2.551)). On the supply side, the CCT had no significant effect on the ANC provider quality index based on reports from midwives. The CCT programme improved ANC coverage for women, but midwives did not improve ANC quality. The results suggest that enhanced ANC utilisation may not be sufficient to improve health outcomes, and steps to improve ANC quality are essential for programme impact. © Article author(s) (or their employer(s) unless otherwise stated in the text of the article) 2017. All rights reserved. No

  13. Money matters: cash transfers for adaptation

    Energy Technology Data Exchange (ETDEWEB)

    Wood, Rachel Godfrey

    2011-04-15

    Developed countries have pledged billions of dollars a year to help poor nations adapt to climate change. But how should the money be spent? For the world's poor, who are both the most vulnerable to climate change and the most in need of social protection, the best answer may be cash transfer programmes. Giving money out in this way has a strong track record in reaching the poor and helping them improve their nutrition, education and incomes — all of which are vital for building their long-term capacity to adapt to climate change. Cash transfers are also well accepted at the local level and, given the right political backing, can be implemented on a broad scale.

  14. Does the Janani Suraksha Yojana cash transfer programme to promote facility births in India ensure skilled birth attendance? A qualitative study of intrapartum care in Madhya Pradesh

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    Sarika Chaturvedi

    2015-07-01

    Full Text Available Background: Access to facility delivery in India has significantly increased with the Janani Suraksha Yojana (JSY cash transfer programme to promote facility births. However, a decline in maternal mortality has only followed secular trends as seen from the beginning of the decade well before the programme began. We, therefore, examined the quality of intrapartum care provided in facilities under the JSY programme to study whether it ensures skilled attendance at birth. Design: 1 Non-participant observations (n=18 of intrapartum care during vaginal deliveries at a representative sample of 11 facilities in Madhya Pradesh to document what happens during intrapartum care. 2 Interviews (n=10 with providers to explore reasons for this care. Thematic framework analysis was used. Results: Three themes emerged from the data: 1 delivery environment is chaotic: delivery rooms were not conducive to safe, women-friendly care provision, and coordination between providers was poor. 2 Staff do not provide skilled care routinely: this emerged from observations that monitoring was limited to assessment of cervical dilatation, lack of readiness to provide key elements of care, and the execution of harmful/unnecessary practices coupled with poor techniques. 3 Dominant staff, passive recipients: staff sometimes threatened, abused, or ignored women during delivery; women were passive and accepted dominance and disrespect. Attendants served as ‘go-betweens’ patients and providers. The interviews with providers revealed their awareness of the compromised quality of care, but they were constrained by structural problems. Positive practices were also observed, including companionship during childbirth and women mobilising in the early stages of labour. Conclusions: Our observational study did not suggest an adequate level of skilled birth attendance (SBA. The findings reveal insufficiencies in the health system and organisational structures to provide an

  15. Does the Janani Suraksha Yojana cash transfer programme to promote facility births in India ensure skilled birth attendance? A qualitative study of intrapartum care in Madhya Pradesh.

    Science.gov (United States)

    Chaturvedi, Sarika; De Costa, Ayesha; Raven, Joanna

    2015-01-01

    Access to facility delivery in India has significantly increased with the Janani Suraksha Yojana (JSY) cash transfer programme to promote facility births. However, a decline in maternal mortality has only followed secular trends as seen from the beginning of the decade well before the programme began. We, therefore, examined the quality of intrapartum care provided in facilities under the JSY programme to study whether it ensures skilled attendance at birth. 1) Non-participant observations (n=18) of intrapartum care during vaginal deliveries at a representative sample of 11 facilities in Madhya Pradesh to document what happens during intrapartum care. 2) Interviews (n=10) with providers to explore reasons for this care. Thematic framework analysis was used. Three themes emerged from the data: 1) delivery environment is chaotic: delivery rooms were not conducive to safe, women-friendly care provision, and coordination between providers was poor. 2) Staff do not provide skilled care routinely: this emerged from observations that monitoring was limited to assessment of cervical dilatation, lack of readiness to provide key elements of care, and the execution of harmful/unnecessary practices coupled with poor techniques. 3) Dominant staff, passive recipients: staff sometimes threatened, abused, or ignored women during delivery; women were passive and accepted dominance and disrespect. Attendants served as 'go-betweens' patients and providers. The interviews with providers revealed their awareness of the compromised quality of care, but they were constrained by structural problems. Positive practices were also observed, including companionship during childbirth and women mobilising in the early stages of labour. Our observational study did not suggest an adequate level of skilled birth attendance (SBA). The findings reveal insufficiencies in the health system and organisational structures to provide an 'enabling environment' for SBA. We highlight the need to ensure

  16. India's Conditional Cash Transfer Programme (the JSY to Promote Institutional Birth: Is There an Association between Institutional Birth Proportion and Maternal Mortality?

    Directory of Open Access Journals (Sweden)

    Bharat Randive

    Full Text Available India accounts for 19% of global maternal deaths, three-quarters of which come from nine states. In 2005, India launched a conditional cash transfer (CCT programme, Janani Suraksha Yojana (JSY, to reduce maternal mortality ratio (MMR through promotion of institutional births. JSY is the largest CCT in the world. In the nine states with relatively lower socioeconomic levels, JSY provides a cash incentive to all women on birthing in health institution. The cash incentive is intended to reduce financial barriers to accessing institutional care for delivery. Increased institutional births are expected to reduce MMR. Thus, JSY is expected to (a increase institutional births and (b reduce MMR in states with high proportions of institutional births. We examine the association between (a service uptake, i.e., institutional birth proportions and (b health outcome, i.e., MMR.Data from Sample Registration Survey of India were analysed to describe trends in proportion of institutional births before (2005 and during (2006-2010 the implementation of the JSY. Data from Annual Health Survey (2010-2011 for all 284 districts in above- mentioned nine states were analysed to assess relationship between MMR and institutional births.Proportion of institutional births increased from a pre-programme average of 20% to 49% in 5 years (p<0.05. In bivariate analysis, proportion of institutional births had a small negative correlation with district MMR (r = -0.11.The multivariate regression model did not establish significant association between institutional birth proportions and MMR [CI: -0.10, 0.68].Our analysis confirmed that JSY succeeded in raising institutional births significantly. However, we were unable to detect a significant association between institutional birth proportion and MMR. This indicates that high institutional birth proportions that JSY has achieved are of themselves inadequate to reduce MMR. Other factors including improved quality of care at

  17. Cash transfers for HIV prevention: considering their potential.

    Science.gov (United States)

    Heise, Lori; Lutz, Brian; Ranganathan, Meghna; Watts, Charlotte

    2013-08-23

    Cash payments to vulnerable households and/or individuals have increasingly garnered attention as a means to reduce poverty, improve health and achieve other development-related outcomes. Recent evidence from Malawi and Tanzania suggests that cash transfers can impact HIV-related behaviours and outcomes and, therefore, could serve as an important addition to HIV prevention efforts. This article reviews the current evidence on cash transfers for HIV prevention and suggests unresolved questions for further research. Gaps include (1) understanding more about the mechanisms and pathways through which cash transfers affect HIV-related outcomes; (2) addressing key operational questions, including the potential feasibility and the costs and benefits of different models of transfers and conditionality; and (3) evaluating and enhancing the wider impacts of cash transfers on health and development. Ongoing and future studies should build on current findings to unpack unresolved questions and to collect additional evidence on the multiple impacts of transfers in different settings. Furthermore, in order to address questions on sustainability, cash transfer programmes need to be integrated with other sectors and programmes that address structural factors such as education and programming to promote gender equality and address HIV.

  18. 10-year effect of Oportunidades, Mexico's conditional cash transfer programme, on child growth, cognition, language, and behaviour: a longitudinal follow-up study.

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    Fernald, Lia C H; Gertler, Paul J; Neufeld, Lynnette M

    2009-12-12

    Mexico's conditional cash transfer programme, Oportunidades, was started to improve the lives of poor families through interventions in health, nutrition, and education. We investigated the effect of Oportunidades on children almost 10 years after the programme began. From April, 1998, to October, 1999, low-income communities were randomly assigned to be enrolled in Oportunidades immediately (early treatment, n=320) or 18 months later (late treatment, n=186). In 2007, when 1093 children receiving early treatment and 700 late treatment in these communities were aged 8-10 years, they were assessed for outcomes including physical growth, cognitive and language development, and socioemotional development. The primary objective was to investigate outcomes associated with an additional 18 months in the programme. We used cluster-adjusted t tests and multivariate regressions to compare effects of programme participation for height-for-age, body-mass index (BMI), and cognitive language and behavioural assessment scores in early versus late treatment groups. Early enrolment reduced behavioural problems for all children in the early versus late treatment group (mean behaviour problem score -0.09 [SD 0.97] vs 0.13 [1.03]; p=0.0024), but we identified no difference between groups for mean height-for-age Z scores (-1.12 [0.96] vs -1.14 [0.97]; p=0.88), BMI-for-age Z scores (0.14 [0.99] vs 0.17 [1.06]; p=0.58), or assessment scores for language (98.8 [13.8] vs 98.4 [14.6] p=0.90) or cognition (98.8 [12.9] vs 100.2 [13.2]; p=0.26). An additional 18 months of the programme before age 3 years for children aged 8-10 years whose mothers had no education resulted in improved child growth of about 1.5 cm assessed as height-for-age [corrected] Z score (beta 0.23 [0.023-0.44] p=0.029), independently of cash received. An additional 18 months in the Oportunidades programme has independent beneficial effects other than money, especially for women with no formal education. The money itself

  19. Demand-side financing for maternal and newborn health: what do we know about factors that affect implementation of cash transfers and voucher programmes?

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    Hunter, Benjamin M; Murray, Susan F

    2017-08-31

    Demand-side financing (DSF) interventions, including cash transfers and vouchers, have been introduced to promote maternal and newborn health in a range of low- and middle-income countries. These interventions vary in design but have typically been used to increase health service utilisation by offsetting some financial costs for users, or increasing household income and incentivising 'healthy behaviours'. This article documents experiences and implementation factors associated with use of DSF in maternal and newborn health. A secondary analysis (using an adapted Supporting the Use of Research Evidence framework - SURE) was performed on studies that had previously been identified in a systematic review of evidence on DSF interventions in maternal and newborn health. The article draws on findings from 49 quantitative and 49 qualitative studies. The studies give insights on difficulties with exclusion of migrants, young and multiparous women, with demands for informal fees at facilities, and with challenges maintaining quality of care under increasing demand. Schemes experienced difficulties if communities faced long distances to reach participating facilities and poor access to transport, and where there was inadequate health infrastructure and human resources, shortages of medicines and problems with corruption. Studies that documented improved care-seeking indicated the importance of adequate programme scope (in terms of programme eligibility, size and timing of payments and voucher entitlements) to address the issue of concern, concurrent investments in supply-side capacity to sustain and/or improve quality of care, and awareness generation using community-based workers, leaders and women's groups. Evaluations spanning more than 15 years of implementation of DSF programmes reveal a complex picture of experiences that reflect the importance of financial and other social, geographical and health systems factors as barriers to accessing care. Careful design of DSF

  20. The REFANI Pakistan study--a cluster randomised controlled trial of the effectiveness and cost-effectiveness of cash-based transfer programmes on child nutrition status: study protocol.

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    Fenn, Bridget; Sangrasi, Ghulam Murtaza; Puett, Chloe; Trenouth, Lani; Pietzsch, Silke

    2015-10-12

    Cash-based transfer programmes are an emerging strategy in the prevention of wasting in children, especially targeted at vulnerable households during periods of food insecurity or during emergencies. However, the evidence surrounding the use of either cash or voucher transfer programmes in the humanitarian context and on nutritional outcomes is elusive. More evidence is needed not only to inform the global community of practice on best practices in humanitarian settings, but also to help strengthen national mitigation responses. The Research for Food Assistance on Nutrition Impact Pakistan study (REFANI-P) sets out to evaluate the impact of three cash-based interventions on nutritional outcomes in children aged less than five years from poor and very poor households in Dadu District. This four-arm parallel cluster randomised controlled trial is set among Action Against Hunger (ACF) programme villages in Dadu District, Sindh Province. Mothers are the target recipients of either seasonal unconditional cash transfers or fresh food vouchers. A comparison group receives 'standard care' provided by the ACF programme to which all groups have the same access. The primary outcomes are prevalence of wasting and mean weight-for-height Z-score (WHZ) in children. Impact will be assessed at 6 months and at 1 year from baseline. Using a theory-based approach we will determine 'how' the different interventions work by looking at the processes involved and the impact pathways following the theory of change developed for this context. Quantitative and qualitative data are collected on morbidity, health seeking, hygiene and nutrition behaviours, dietary diversity, haemoglobin concentration, women's empowerment, household food security and expenditures and social capital. The direct and indirect costs of each intervention borne by the implementing organisation and their partners as well as by beneficiaries and their communities are also assessed. The results of this trial will provide

  1. QuickCash: Secure Transfer Payment Systems

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    Abdulrahman Alhothaily

    2017-06-01

    Full Text Available Payment systems play a significant role in our daily lives. They are an important driver of economic activities and a vital part of the banking infrastructure of any country. Several current payment systems focus on security and reliability but pay less attention to users’ needs and behaviors. For example, people may share their bankcards with friends or relatives to withdraw money for various reasons. This behavior can lead to a variety of privacy and security issues since the cardholder has to share a bankcard and other sensitive information such as a personal identification number (PIN. In addition, it is commonplace that cardholders may lose their cards, and may not be able to access their accounts due to various reasons. Furthermore, transferring money to an individual who has lost their bankcard and identification information is not a straightforward task. A user-friendly person-to-person payment system is urgently needed to perform secure and reliable transactions that benefit from current technological advancements. In this paper, we propose two secure fund transfer methods termed QuickCash Online and QuickCash Offline to transfer money from peer to peer using the existing banking infrastructure. Our methods provide a convenient way to transfer money quickly, and they do not require using bank cards or any identification card. Unlike other person-to-person payment systems, the proposed methods do not require the receiving entity to have a bank account, or to perform any registration procedure. We implement our QuickCash payment systems and analyze their security strengths and properties.

  2. QuickCash: Secure Transfer Payment Systems

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    Alhothaily, Abdulrahman; Alrawais, Arwa; Song, Tianyi; Lin, Bin; Cheng, Xiuzhen

    2017-01-01

    Payment systems play a significant role in our daily lives. They are an important driver of economic activities and a vital part of the banking infrastructure of any country. Several current payment systems focus on security and reliability but pay less attention to users’ needs and behaviors. For example, people may share their bankcards with friends or relatives to withdraw money for various reasons. This behavior can lead to a variety of privacy and security issues since the cardholder has to share a bankcard and other sensitive information such as a personal identification number (PIN). In addition, it is commonplace that cardholders may lose their cards, and may not be able to access their accounts due to various reasons. Furthermore, transferring money to an individual who has lost their bankcard and identification information is not a straightforward task. A user-friendly person-to-person payment system is urgently needed to perform secure and reliable transactions that benefit from current technological advancements. In this paper, we propose two secure fund transfer methods termed QuickCash Online and QuickCash Offline to transfer money from peer to peer using the existing banking infrastructure. Our methods provide a convenient way to transfer money quickly, and they do not require using bank cards or any identification card. Unlike other person-to-person payment systems, the proposed methods do not require the receiving entity to have a bank account, or to perform any registration procedure. We implement our QuickCash payment systems and analyze their security strengths and properties. PMID:28608846

  3. QuickCash: Secure Transfer Payment Systems.

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    Alhothaily, Abdulrahman; Alrawais, Arwa; Song, Tianyi; Lin, Bin; Cheng, Xiuzhen

    2017-06-13

    Payment systems play a significant role in our daily lives. They are an important driver of economic activities and a vital part of the banking infrastructure of any country. Several current payment systems focus on security and reliability but pay less attention to users' needs and behaviors. For example, people may share their bankcards with friends or relatives to withdraw money for various reasons. This behavior can lead to a variety of privacy and security issues since the cardholder has to share a bankcard and other sensitive information such as a personal identification number (PIN). In addition, it is commonplace that cardholders may lose their cards, and may not be able to access their accounts due to various reasons. Furthermore, transferring money to an individual who has lost their bankcard and identification information is not a straightforward task. A user-friendly person-to-person payment system is urgently needed to perform secure and reliable transactions that benefit from current technological advancements. In this paper, we propose two secure fund transfer methods termed QuickCash Online and QuickCash Offline to transfer money from peer to peer using the existing banking infrastructure. Our methods provide a convenient way to transfer money quickly, and they do not require using bank cards or any identification card. Unlike other person-to-person payment systems, the proposed methods do not require the receiving entity to have a bank account, or to perform any registration procedure. We implement our QuickCash payment systems and analyze their security strengths and properties.

  4. Designing a portfolio management programme to optimize cash-flow

    International Nuclear Information System (INIS)

    Fassom, D.

    1996-01-01

    The design and implementation of any portfolio management programme must, by definition, be tailored to the drivers and particular objectives of the company owning the assets. This paper will concentrate on one of the most important driving forces, namely managing cash-flow. Five key steps are required to achieve an effective portfolio management programme: 1. establish targets/goals; 2. describe and value the assets in your company's portfolio; 3. identify and catalogue potential 'customers'; 4. construct appropriate deal structures and other strategies to achieve your targets; 5. work hard and do deals. (author)

  5. Small but effective: India's targeted unconditional cash transfers

    OpenAIRE

    Puja Dutta; Stephen Howes; Rinku Murgai

    2010-01-01

    India's approach to social security stresses the provision of subsidized food and public works. Targeted, unconditional cash transfers are little used, and have been little evaluated. An evaluation of cash transfers for the elderly and widows based on national household survey data and surveys on social pension utilization in two of India's states, Karnataka and Rajasthan, reveal that these social pension schemes work reasonably well. Levels of leakage (corruption) are low, funds flow disprop...

  6. Paying Students to Learn: An Ethical Analysis of Cash for Grades Programmes

    Science.gov (United States)

    Warnick, Bryan R.

    2017-01-01

    A growing number of schools have begun experimenting with giving students cash rewards to improve academic performance. This practice has come to be known as "cash-for-grades." In this article, I examine some of the philosophical and ethical questions involved with cash-for-grades programmes, rather than focusing on whether such…

  7. Conditional cash transfers and social welfare. A look into two Latin American case studies

    Directory of Open Access Journals (Sweden)

    Alexia Delclaux Gaytán de Ayala

    2015-12-01

    Full Text Available This paper analyses the role of conditional cash transfers (CCT in improving social indicators during the past decade in Brazil and Peru. Barely two decades after the appearance of the first programmes, CCTs – cash transfers to families living in poverty or extreme poverty conditioned to school attendance and compulsory medical visits for children – are now one of the main policy tools in the fight against poverty in dozens of developing countries. More specifically, this paper examines the link between the CCT programme in each of these two countries – the giant Bolsa Familia in Brazil, the pioneer and largest program of this type in the world, and Juntos in Peru, smaller in terms of size and relevance, but practically identical in its design – and the evolution of social indicators relative to poverty, education and health.

  8. Community-based capital cash transfer to support orphans in Western Kenya

    DEFF Research Database (Denmark)

    Skovdal, Morten; Mwasiaji, W.; Morrison, J.

    2008-01-01

    Various types of 'cash transfer' are currently receiving much attention as a way of helping orphans and vulnerable children in Africa. Drawing on a qualitative study conducted in Western Kenya, this paper points to the strategy of community-based capital cash transfers (CCCT) as a particularly...... promising method of supporting orphans and carers. Qualitative data were obtained from 15 orphans and 26 caregivers in Bondo District, Kenya, beneficiaries of a CCCT programme run by a partnership between the community, the government social services department and a foreign donor. Our findings suggest...... that the programme not only increased food availability, but also enhanced social capital. Further research is needed to explore the potential of CCCT in supporting orphans and vulnerable children in countries with high orphanhood rates....

  9. Conditional Cash Transfer against Child Labor: Indonesia Program Keluarga Harapan

    Science.gov (United States)

    Lee, Kye Woo; Hwang, Miae

    2016-01-01

    This study aims to analyze whether subsidies provided by the Indonesian conditional cash transfer against child labor program (Program Keluarga Harapan: PKH) were sufficient for children to stop working and go back to schooling. Ex-post evaluations of the program found that it did not improve children's enrollment rate and reduce child labor…

  10. Assessing the impact of cash transfer programs on women's ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    In Tanzania, the Tanzania Social Action Fund provides financial support to poor and vulnerable people. Conditions attached to the funds include sending children to school and accessing basic health care. Recent evidence suggests that cash transfers can contribute to pro-poor growth by: -serving as an effective risk ...

  11. Social protection investments, human capital, and income growth: Simulating the returns to social cash transfers in Uganda

    NARCIS (Netherlands)

    Dietrich, Stephan; Malerba, Daniele; Barrientos, Armando; Gassmann, Franziska; Mohnen, Pierre; Tirivayi, Nyasha; Kavuma, Susan; Matovu, Fred

    2017-01-01

    In this paper we assess the short- and mid-term effects of two cash transfer programmes in Uganda in terms of child underweight, school attainment, and the monetary returns to these indirect effects. Using a micro-simulation approach we test how the scale-up of these pilot interventions could affect

  12. Impact of Cash Transfer on Food Security: A Review

    Directory of Open Access Journals (Sweden)

    Fatemeh Mohammadi-Nasrabadi

    2016-04-01

    Full Text Available Cash transfer (CTs is an increasingly popular social protection mechanism used by many developing countries to improve the food security and nutritional status of lower socio-economic groups. This paper is a review of the literature regarding the impact of CT programs on the food security of recipient households in the developing countries, including Iran. We looked for all original studies, performed in the developing countries and published in any language, containing at least one outcome related to food and nutritional security of the beneficiary population using Pub Med, Iran Medex, SID (Scientific Information Database, ISI (Information Sciences Institute database, INP (Iran’s Nutrition Publication Abstracts, IRANDOC and Magiran. Searches used the following terms or keywords: “household food security”, “household food insecurity” and “cash transfer” on any publication published within 1990-2015. A total of 12 studies evaluating the influence of CT programs on the recipients’ food and nutrition security were identified. CT programs have the potential to deliver a range of benefits not only through reducing extreme poverty but also by providing effective support for broader human development objectives, including better nutrition, as well as health and education outputs and outcomes. The extent to which programs can have these different impacts will depend critically on the availability of complementary services, the local context, and the specifics of program design, including the transfer value. However, findings in Iran suggest that the replacement of staple food subsidies by CT has led to a significant increase in household food insecurity (especially marginal or mild food insecurity. Keywords: Household food security, Cash transfer, Developing countries

  13. Cash social transfers, direct taxes, and income distribution in late socialism

    OpenAIRE

    Milanovic, Branko

    1993-01-01

    The author analyzes the impact of direct taxes and cash social transfers on income distribution in Bulgaria, Czechoslovakia, Hungary, Poland and Yugoslavia in the years before the collapse of communism. He contrasts the results for socialist and market economies. Cash social transfers accounted for about a fifth of gross income, a proportion comparable with that in developed welfare economies. Generally, cash transfers were unrelated to income in socialist countries, in marked contrast with m...

  14. Can Social Protection Weaken Clientelism? Considering Conditional Cash Transfers as Political Reform in the Philippines

    Directory of Open Access Journals (Sweden)

    Arun Ranga Swamy

    2016-01-01

    Full Text Available Since poverty is often believed to be a root cause of clientelism, government policies to reduce poverty should also help to reduce clientelism. However, scholars studying clientelism are more likely to view social policy as a potential resource for clientelist politicians. This article examines this paradox in the Philippine context by offering a general framework to identify when social welfare policies are likely to reduce clientelism, and by applying this framework to the Philippines, focusing on the Pantawid Pamilyang Pilipino conditional cash transfer programme, or Pantawid. I argue that the policies that are most likely to undercut clientelism are universal social protection policies that provide poor families with security, although these are the least acceptable to middle-class taxpayers. This is exemplified by the Philippines, which has tended to introduce social policies that increase the scope for clientelism by making discretionary allocation more likely, rather than policies that offer income security to the poor. The Pantawid programme attempts to overcome these problems by introducing a centralised targeting mechanism to identify beneficiaries and by guaranteeing the benefit to all eligible families, but like all conditional cash transfer programs falls short of guaranteed and universal social protection.

  15. Comments on contingency management and conditional cash transfers.

    Science.gov (United States)

    Higgins, Stephen T

    2010-10-01

    This essay discusses research on incentive-based interventions to promote healthy behavior change, contingency management (CM) and conditional cash transfers (CCT). The overarching point of the essay is that CM and CCT are often treated as distinct areas of inquiry when at their core they represent a common approach. Some potential bi-directional benefits of recognizing this commonality are discussed. Distinct intellectual traditions probably account for the separate paths of CM and CCT to date, with the former being rooted in behavioral psychology and the latter in microeconomics. It is concluded that the emerging field of behavioral economics, which is informed by and integrates principles of each of those disciplines, may provide the proper conceptual framework for integrating CM and CCT.

  16. The effects of cash transfers and vouchers on the use and quality of maternity care services: A systematic review.

    Science.gov (United States)

    Hunter, Benjamin M; Harrison, Sean; Portela, Anayda; Bick, Debra

    2017-01-01

    Cash transfers and vouchers are forms of 'demand-side financing' that have been widely used to promote maternal and newborn health in low- and middle-income countries during the last 15 years. This systematic review consolidates evidence from seven published systematic reviews on the effects of different types of cash transfers and vouchers on the use and quality of maternity care services, and updates the systematic searches to June 2015 using the Joanna Briggs Institute approach for systematic reviewing. The review protocol for this update was registered with PROSPERO (CRD42015020637). Data from 51 studies (15 more than previous reviews) and 22 cash transfer and voucher programmes suggest that approaches tied to service use (either via payment conditionalities or vouchers for selected services) can increase use of antenatal care, use of a skilled attendant at birth and in the case of vouchers, postnatal care too. The strongest evidence of positive effect was for conditional cash transfers and uptake of antenatal care, and for vouchers for maternity care services and birth with a skilled birth attendant. However, effects appear to be shaped by a complex set of social and healthcare system barriers and facilitators. Studies have typically focused on an initial programme period, usually two or three years after initiation, and many lack a counterfactual comparison with supply-side investment. There are few studies to indicate that programmes have led to improvements in quality of maternity care or maternal and newborn health outcomes. Future research should use multiple intervention arms to compare cost-effectiveness with similar investment in public services, and should look beyond short- to medium-term service utilisation by examining programme costs, longer-term effects on service utilisation and health outcomes, and the equity of those effects.

  17. The effects of cash transfers and vouchers on the use and quality of maternity care services: A systematic review

    Science.gov (United States)

    Hunter, Benjamin M.; Harrison, Sean; Portela, Anayda; Bick, Debra

    2017-01-01

    Background Cash transfers and vouchers are forms of ‘demand-side financing’ that have been widely used to promote maternal and newborn health in low- and middle-income countries during the last 15 years. Methods This systematic review consolidates evidence from seven published systematic reviews on the effects of different types of cash transfers and vouchers on the use and quality of maternity care services, and updates the systematic searches to June 2015 using the Joanna Briggs Institute approach for systematic reviewing. The review protocol for this update was registered with PROSPERO (CRD42015020637). Results Data from 51 studies (15 more than previous reviews) and 22 cash transfer and voucher programmes suggest that approaches tied to service use (either via payment conditionalities or vouchers for selected services) can increase use of antenatal care, use of a skilled attendant at birth and in the case of vouchers, postnatal care too. The strongest evidence of positive effect was for conditional cash transfers and uptake of antenatal care, and for vouchers for maternity care services and birth with a skilled birth attendant. However, effects appear to be shaped by a complex set of social and healthcare system barriers and facilitators. Studies have typically focused on an initial programme period, usually two or three years after initiation, and many lack a counterfactual comparison with supply-side investment. There are few studies to indicate that programmes have led to improvements in quality of maternity care or maternal and newborn health outcomes. Conclusion Future research should use multiple intervention arms to compare cost-effectiveness with similar investment in public services, and should look beyond short- to medium-term service utilisation by examining programme costs, longer-term effects on service utilisation and health outcomes, and the equity of those effects. PMID:28328940

  18. The effects of cash transfers and vouchers on the use and quality of maternity care services: A systematic review.

    Directory of Open Access Journals (Sweden)

    Benjamin M Hunter

    Full Text Available Cash transfers and vouchers are forms of 'demand-side financing' that have been widely used to promote maternal and newborn health in low- and middle-income countries during the last 15 years.This systematic review consolidates evidence from seven published systematic reviews on the effects of different types of cash transfers and vouchers on the use and quality of maternity care services, and updates the systematic searches to June 2015 using the Joanna Briggs Institute approach for systematic reviewing. The review protocol for this update was registered with PROSPERO (CRD42015020637.Data from 51 studies (15 more than previous reviews and 22 cash transfer and voucher programmes suggest that approaches tied to service use (either via payment conditionalities or vouchers for selected services can increase use of antenatal care, use of a skilled attendant at birth and in the case of vouchers, postnatal care too. The strongest evidence of positive effect was for conditional cash transfers and uptake of antenatal care, and for vouchers for maternity care services and birth with a skilled birth attendant. However, effects appear to be shaped by a complex set of social and healthcare system barriers and facilitators. Studies have typically focused on an initial programme period, usually two or three years after initiation, and many lack a counterfactual comparison with supply-side investment. There are few studies to indicate that programmes have led to improvements in quality of maternity care or maternal and newborn health outcomes.Future research should use multiple intervention arms to compare cost-effectiveness with similar investment in public services, and should look beyond short- to medium-term service utilisation by examining programme costs, longer-term effects on service utilisation and health outcomes, and the equity of those effects.

  19. New Findings on New York City's Conditional Cash Transfer Program. Fast Focus. No. 18-2013

    Science.gov (United States)

    Riccio, James A.

    2013-01-01

    The Earned Income Tax Credit (EITC) and Temporary Assistance for Needy Families (TANF) are long-standing policies that link cash assistance to low-income families to work effort. A new policy being tested in New York City adopts this "conditional cash transfer" principle and extends it to a broader set of family efforts to build their…

  20. Comparison of two cash transfer strategies to prevent catastrophic costs for poor tuberculosis-affected households in low- and middle-income countries: An economic modelling study.

    Science.gov (United States)

    Rudgard, William E; Evans, Carlton A; Sweeney, Sedona; Wingfield, Tom; Lönnroth, Knut; Barreira, Draurio; Boccia, Delia

    2017-11-01

    Illness-related costs for patients with tuberculosis (TB) ≥20% of pre-illness annual household income predict adverse treatment outcomes and have been termed "catastrophic." Social protection initiatives, including cash transfers, are endorsed to help prevent catastrophic costs. With this aim, cash transfers may either be provided to defray TB-related costs of households with a confirmed TB diagnosis (termed a "TB-specific" approach); or to increase income of households with high TB risk to strengthen their economic resilience (termed a "TB-sensitive" approach). The impact of cash transfers provided with each of these approaches might vary. We undertook an economic modelling study from the patient perspective to compare the potential of these 2 cash transfer approaches to prevent catastrophic costs. Model inputs for 7 low- and middle-income countries (Brazil, Colombia, Ecuador, Ghana, Mexico, Tanzania, and Yemen) were retrieved by literature review and included countries' mean patient TB-related costs, mean household income, mean cash transfers, and estimated TB-specific and TB-sensitive target populations. Analyses were completed for drug-susceptible (DS) TB-related costs in all 7 out of 7 countries, and additionally for drug-resistant (DR) TB-related costs in 1 of the 7 countries with available data. All cost data were reported in 2013 international dollars ($). The target population for TB-specific cash transfers was poor households with a confirmed TB diagnosis, and for TB-sensitive cash transfers was poor households already targeted by countries' established poverty-reduction cash transfer programme. Cash transfers offered in countries, unrelated to TB, ranged from $217 to $1,091/year/household. Before cash transfers, DS TB-related costs were catastrophic in 6 out of 7 countries. If cash transfers were provided with a TB-specific approach, alone they would be insufficient to prevent DS TB catastrophic costs in 4 out of 6 countries, and when increased enough

  1. Evidence of eligibility manipulation for conditional cash transfer programs

    Directory of Open Access Journals (Sweden)

    Sergio Firpo

    2014-09-01

    Full Text Available This paper assesses whether eligibility for conditional cash transfer programs has been manipulated, as well as the impact of this phenomenon on time allocation within households. To perform this analysis, we use data from the 2006 PNAD (Brazilian national household survey and investigate the eligibility manipulation for the Bolsa Família (Family Stipend program during this time period. The program assists families with a monthly per capita income of around R$120.00 (US$60.00. By applying the tests developed by McCrary (2008, we find suggestive evidence that individuals manipulate their income by voluntarily reducing their labor supply in order to become eligible to the program. Moreover, the reduction in labor supply is greater among women, especially single or divorced mothers. This evidence raises some concern about the unintended consequences related to the eligibility criteria utilized by Bolsa Família, as well as the program's impact on individuals living in extreme poverty.

  2. The promise and limitations of cash transfer programs for HIV prevention.

    Science.gov (United States)

    Fieno, John; Leclerc-Madlala, Suzanne

    2014-01-01

    As the search for more effective HIV prevention strategies continues, increased attention is being paid to the potential role of cash transfers in prevention programming in sub-Saharan Africa. To date, studies testing the impact of both conditional and unconditional cash transfers on HIV-related behaviours and outcomes in sub-Saharan Africa have been relatively small-scale and their potential feasibility, costs and benefits at scale, among other things, remain largely unexplored. This article examines elements of a successful cash transfer program from Latin America and discusses challenges inherent in scaling-up such programs. The authors attempt a cost simulation of a cash transfer program for HIV prevention in South Africa comparing its cost and relative effectiveness--in number of HIV infections averted--against other prevention interventions. If a cash transfer program were to be taken to scale, the intervention would not have a substantial effect on decreasing the force of the epidemic in middle- and low-income countries. The integration of cash transfer programs into other sectors and linking them to a broader objective such as girls' educational attainment may be one way of addressing doubts raised by the authors regarding their value for HIV prevention.

  3. Additional cash incentive within a conditional cash transfer scheme: a 'controlled before and during' design evaluation study from India.

    Science.gov (United States)

    Lahariya, Chandrakant; Mishra, Ashok; Nandan, Deoki; Gautam, Praveen; Gupta, Sanjay

    2011-01-01

    Conditional Cash Transfer (CCT) schemes have shown largely favorable changes in the health seeking behavior. This evaluation study assesses the process and performance of an Additional Cash Incentive (ACI) scheme within an ongoing CCT scheme in India, and document lessons. A controlled before and during design study was conducted in Madhya Pradesh state of India, from August 2007 to March 2008, with increased in institutional deliveries as a primary outcome. In depth interviews, focus group discussions and household surveys were done for data collection. Lack of awareness about ACI scheme amongst general population and beneficiaries, cumbersome cash disbursement procedure, intricate eligibility criteria, extensive paper work, and insufficient focus on community involvement were the major implementation challenges. There were anecdotal reports of political interference and possible scope for corruption. At the end of implementation period, overall rate of institutional deliveries had increased in both target and control populations; however, the differences were not statistically significant. No cause and effect association could be proven by this study. Poor planning and coordination, and lack of public awareness about the scheme resulted in low utilization. Thus, proper IEC and training, detailed implementation plan, orientation training for implementer, sufficient budgetary allocation, and community participation should be an integral part for successful implementation of any such scheme. The lesson learned this evaluation study may be useful in any developing country setting and may be utilized for planning and implementation of any ACI scheme in future.

  4. Measuring The Impact Of Cash Transfers And Behavioral 'Nudges' On Maternity Care In Nairobi, Kenya.

    Science.gov (United States)

    Cohen, Jessica; Rothschild, Claire; Golub, Ginger; Omondi, George N; Kruk, Margaret E; McConnell, Margaret

    2017-11-01

    Many patients in low-income countries express preferences for high-quality health care but often end up with low-quality providers. We conducted a randomized controlled trial with pregnant women in Nairobi, Kenya, to analyze whether cash transfers, enhanced with behavioral "nudges," can help women deliver in facilities that are consistent with their preferences and are of higher quality. We tested two interventions. The first was a labeled cash transfer (LCT), which explained that the cash was to help women deliver where they wanted. The second was a cash transfer that combined labeling and a commitment by the recipient to deliver in a prespecified desired facility as a condition of receiving the final payment (L-CCT). The L-CCT improved patient-perceived quality of interpersonal care but not perceived technical quality of care. It also increased women's likelihood of delivering in facilities that met standards for routine and emergency newborn care but not the likelihood of delivering in facilities that met standards for obstetric care. The LCT had fewer measured benefits. Women preferred facilities with high technical and interpersonal care quality, but these quality measures were often negatively correlated within facilities. Even with cash transfers, many women still used poor-quality facilities. A larger study is warranted to determine whether the L-CCT can improve maternal and newborn outcomes.

  5. Cash Impact of the Consumable Item Transfer, Phase II

    National Research Council Canada - National Science Library

    1998-01-01

    ...). This report is the third in a series of reports regarding the consumable item transfer (CIT), phase II. The Deputy Secretary of Defense directed the transfer of the management of consumable items to Defense Logistics Agency...

  6. Impact of Implementation of Direct Cash Transfer Program 2008/2009 on Household Consumption in Central Java Province

    Science.gov (United States)

    Subanti, S.; Hakim, A. R.; Hakim, I. M.

    2017-04-01

    This study aims to see the impact of direct cash transfer program for 2008/2009 on household consumption of food, nonfood, education, and health in Central Java Province. The study is expected to provide important findings for the improvement of a similar program in the future. This study findings that (1) the increasing in food and non-food consumption for direct cash transfer recipients than non direct cash transfer recipients; (2) the impact of households expenditure on education for direct cash transfer recipients is higher than non direct cash transfer recipients; (3) the impact of households expenditure on health for direct cash transfer recipients is lower than non direct cash transfer recipients. This study recommended that (1) implementation of direct cash transfer program 2008/2009 must be managed to be better because this program can defend household welfare. It shows from several indicators of well-being such as consumption spending, education, and health; (2) data targets for poor households (very poor, poor, nearly poor) must be updated.

  7. Cash Transfers and Mayoral Elections: The Case of Sao Paulo's Renda Mínima

    Directory of Open Access Journals (Sweden)

    Diego Sanches Corrêa

    2015-08-01

    Full Text Available Several recently published studies analyze the effects of national conditional cash transfer (CCT programs, such as the Brazilian Bolsa Família and the Mexican Oportunidades, on presidential elections. Most of them show that these programs boost incumbents' electoral support among the poor. This research note is the first scholarly attempt to investigate this phenomenon at a lower-level unit of a federal state, by assessing the impact of a municipal cash transfer program on a mayoral election. Specifically, it investigates whether Renda Mínima, the cash transfer program of the city of Sao Paulo, affected beneficiaries' electoral behavior in favor of the incumbent candidate in the 2004 mayoral election. This note analyzes survey data from CEBRAP/IBOPE and shows that cash transfers did, indeed, affect beneficiaries' behavior in the predicted direction, but only in cases where they did not benefit from any other CCT program, such as the federal Bolsa Família or the São Paulo state Renda Cidadã. These results suggest that the pro-incumbent effect of CCT programs may be diluted by similar programs launched by governments at other tiers of a federation, even if they are led by the same party.

  8. New York City's First Conditional Cash Transfer Program: What Worked, What Didn't

    Science.gov (United States)

    Riccio, James; Miller, Cynthia

    2016-01-01

    This report summarizes the findings of a long-term evaluation of Opportunity NYC--Family Rewards, an experimental, privately funded, conditional cash transfer (CCT) program to help families break the cycle of poverty. Family Rewards was the first comprehensive CCT program in a developed country. Launched in 2007 by New York City's Center for…

  9. Learning Together: How Families Responded to Education Incentives in New York City's Conditional Cash Transfer Program

    Science.gov (United States)

    Greenberg, David; Dechausay, Nadine; Fraker, Carolyn

    2011-01-01

    In 2007, New York City's Center for Economic Opportunity launched Opportunity NYC-Family Rewards, an experimental, privately funded, conditional cash transfer (CCT) program to help families break the cycle of poverty. Family Rewards provided payments to low-income families in six of the city's poorest communities for achieving specific goals…

  10. Making Conditional Cash Transfer Programs More Efficient : Designing for Maximum Effect of the Conditionality

    OpenAIRE

    de Janvry, Alain; Sadoulet, Elisabeth

    2006-01-01

    Conditional cash transfer programs are now used extensively to encourage poor parents to increase investments in their children's human capital. These programs can be large and expensive, motivating a quest for greater efficiency through increased impact of the programs' imposed conditions on human capital formation. This requires designing the programs' targeting and calibration rules spe...

  11. The Influence of Conditional Cash Transfers on Eligible Children and Their Siblings

    Science.gov (United States)

    Lincove, Jane Arnold; Parker, Adam

    2016-01-01

    Conditional cash transfers (CCTs) are used to reduce poverty while incentivizing investments in children. Targeting CCTs to certain groups of children can improve efficiency, but positive effects on eligible children may be offset by reductions in investments for ineligible siblings. Using data from Nicaragua, we estimate program effects on…

  12. The Impact of an Unconditional Cash Transfer on Early Child Development: The Zambia Child Grant Program

    Science.gov (United States)

    Seidenfeld, David; Prencipe, Leah; Handa, Sudhanshu; Hawkinson, Laura

    2015-01-01

    Little research has been conducted on unconditional cash transfers (UCTs) despite their growing prevalence in Africa, including South Africa, Zambia, Zimbabwe, Kenya, Malawi, Lesotho, and Uganda. In this study, researchers implemented a randomized control trial with over 2,500 households to investigate the impact of Africa's child grant program on…

  13. The impact of conditional cash transfers on health outcomes and use of health services in low and middle income countries.

    Science.gov (United States)

    Lagarde, Mylene; Haines, Andy; Palmer, Natasha

    2009-10-07

    Conditional cash transfers (CCT) provide monetary transfers to households on the condition that they comply with some pre-defined requirements. CCT programmes have been justified on the grounds that demand-side subsidies are necessary to address inequities in access to health and social services for poor people. In the past decade they have become increasingly popular, particularly in middle income countries in Latin America. To assess the effectiveness of CCT in improving access to care and health outcomes, in particular for poorer populations in low and middle income countries. We searched a wide range of international databases, including the Cochrane Central Register of Controlled Trials (CENTRAL), MEDLINE and EMBASE, in addition to development studies and economic databases. We also searched the websites and online resources of numerous international agencies, organisations and universities to find relevant grey literature. The original searches were conducted between November 2005 and April 2006. An updated search in MEDLINE was carried out in May 2009. CCT were defined as monetary transfers made to households on the condition that they comply with some pre-determined requirements in relation to health care. Studies had to include an objective measure of at least one of the following outcomes: health care utilisation, health expenditure, health outcomes or equity outcomes. Eligible study designs were: randomised controlled trial, interrupted time series analysis, or controlled before-after study of the impact of health financing policies following criteria used by the Cochrane Effective Practice and Organisation of Care Group. We performed qualitative analysis of the evidence. We included ten papers reporting results from six intervention studies. Overall, design quality and analysis limited the risks of bias. Several CCT programmes provided strong evidence of a positive impact on the use of health services, nutritional status and health outcomes

  14. Consumable Item Transfer, Phase 2, Cash Imbalance Issue

    National Research Council Canada - National Science Library

    1997-01-01

    We are providing this report for your information and use. The Deputy Secretary of Defense directed the transfer of the management of consumable items to the Defense Logistics Agency (DLA) in July 1990...

  15. Examining the Costs and Benefits of Family Rewards 2.0: A Conditional Cash Transfer Program in Two American Cities

    Science.gov (United States)

    Rudd, Timothy; Rodriguez, Jonathan; Greenberg, David

    2016-01-01

    Family Rewards was an innovative approach to poverty reduction in the United States that was modelled on the conditional cash transfer (CCT) programs common in lower- and middle-income countries. The program offered cash assistance to poor families to reduce immediate hardship, provided they met certain criteria related to family health care,…

  16. Effects of a Modified Conditional Cash Transfer Program in Two American Cities: Findings from Family Rewards 2.0

    Science.gov (United States)

    Miller, Cynthia; Miller, Rhiannon; Verma, Nandita; Dechausay, Nadine; Yang, Edith; Rudd, Timothy; Rodriguez, Jonathan; Honig, Sylvie

    2016-01-01

    Family Rewards was an innovative approach to poverty reduction in the United States that was modeled on the conditional cash transfer (CCT) programs common in lower- and middle-income countries. The program offered cash assistance to low-income families, provided that they met certain conditions related to family health care, children's education,…

  17. Culture and Human Capital Investments: Evidence of an Unconditional Cash Transfer Program in Bolivia

    OpenAIRE

    Yanez-Pagans, Monica

    2008-01-01

    This paper uses a policy quasi-experiment created by the introduction of an old-age unconditional cash transfer program in Bolivia to study the intra-household income allocation process towards children's educational expenditure by ethnicity and gender of the recipient. Taking advantage of a sharp discontinuity created by the program assignment mechanism, I investigate the heterogeneity in the patterns of allocation within indigenous, multiethnic, and non-indigenous families, conditional on h...

  18. The effects of cash transfers and vouchers on the use and quality of maternity care services: A systematic review

    OpenAIRE

    Hunter, Benjamin M.; Harrison, Sean; Portela, Anayda; Bick, Debra

    2017-01-01

    BackgroundCash transfers and vouchers are forms of `demand-side financing' that have been widely used to promote maternal and newborn health in low- and middle-income countries during the last 15 years.MethodsThis systematic review consolidates evidence from seven published systematic reviews on the effects of different types of cash transfers and vouchers on the use and quality of maternity care services, and updates the systematic searches to June 2015 using the Joanna Briggs Institute appr...

  19. Effects of unconditional and conditional cash transfers on child health and development in Zimbabwe: a cluster-randomised trial.

    Science.gov (United States)

    Robertson, Laura; Mushati, Phyllis; Eaton, Jeffrey W; Dumba, Lovemore; Mavise, Gideon; Makoni, Jeremiah; Schumacher, Christina; Crea, Tom; Monasch, Roeland; Sherr, Lorraine; Garnett, Geoffrey P; Nyamukapa, Constance; Gregson, Simon

    2013-04-13

    Cash-transfer programmes can improve the wellbeing of vulnerable children, but few studies have rigorously assessed their effectiveness in sub-Saharan Africa. We investigated the effects of unconditional cash transfers (UCTs) and conditional cash transfers (CCTs) on birth registration, vaccination uptake, and school attendance in children in Zimbabwe. We did a matched, cluster-randomised controlled trial in ten sites in Manicaland, Zimbabwe. We divided each study site into three clusters. After a baseline survey between July, and September, 2009, clusters in each site were randomly assigned to UCT, CCT, or control, by drawing of lots from a hat. Eligible households contained children younger than 18 years and satisfied at least one other criteria: head of household was younger than 18 years; household cared for at least one orphan younger than 18 years, a disabled person, or an individual who was chronically ill; or household was in poorest wealth quintile. Between January, 2010, and January, 2011, households in UCT clusters collected payments every 2 months. Households in CCT clusters could receive the same amount but were monitored for compliance with several conditions related to child wellbeing. Eligible households in all clusters, including control clusters, had access to parenting skills classes and received maize seed and fertiliser in December, 2009, and August, 2010. Households and individuals delivering the intervention were not masked, but data analysts were. The primary endpoints were proportion of children younger than 5 years with a birth certificate, proportion younger than 5 years with up-to-date vaccinations, and proportion aged 6-12 years attending school at least 80% of the time. This trial is registered with ClinicalTrials.gov, number NCT00966849. 1199 eligible households were allocated to the control group, 1525 to the UCT group, and 1319 to the CCT group. Compared with control clusters, the proportion of children aged 0-4 years with birth

  20. The Impact of Conditional Cash Transfer on Toilet Use in eThekwini, South Africa

    Directory of Open Access Journals (Sweden)

    Elizabeth Tilley

    2016-10-01

    Full Text Available In the developing world, having access to a toilet does not necessarily imply use: infrequent or non-use limits the desired health outcomes of improved sanitation. We examine the sanitation situation in a rural part of South Africa where recipients of novel, waterless “urine-diverting dry toilets” are not regularly using them. In order to determine if small, conditional cash transfers (CCT could motivate families to use their toilets more, we paid for urine via different incentive-based interventions: two were based on volumetric pricing and the third was a flat-rate payment (irrespective of volume. A flat-rate payment (approx. €1 resulted in the highest rates of regular (weekly participation at 59%. The low volumetric payment (approx. €0.05/L led to regular participation rates of only 12% and no increase in toilet use. The high volumetric payment (approx. €0.1/L resulted in lower rates of regular participation (35%, but increased the average urine production per household per day by 74%. As a first example of conditional cash transfers being used in the sanitation sector, we show that they are an accepted and effective tool for increasing toilet use, while putting small cash payments in the hands of poor, largely unemployed populations in rural South Africa.

  1. Cash transfer program and education investment: A model for social evolution

    Science.gov (United States)

    Schimit, P. H. T.; Monteiro, L. H. A.; Omar, N.

    2014-03-01

    Assume that the households of a country are socially classified according to the monthly total income, and that they can be part of a lower, a middle or an upper class. By using multi-agent systems, here we model and simulate the economic evolution of households which earn a wage, pay taxes and invest in education. The return of the education investment is monthly added to the salary of the family, and it is function of the corresponding grand total put in education along the time. When a family is unemployed, we consider that it receives cash due to a social program made by the government. The time evolution of the percentages of households belonging to each class is investigated by varying the government investment in such a program of cash transfer and the proportion of employed households in the population. We show that the government should invest in the unemployed lower class if it intends a growth of the middle class. We also propose and analyze a mean-field approximation written in terms of ordinary differential equations. In addition, we verify that our model fits real data from Brazil, in the period between 2003 (when the cash transfer program Bolsa Família was launched) and 2011.

  2. Cash transfers for HIV prevention: what do young women spend it on? Mixed methods findings from HPTN 068

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    Catherine MacPhail

    2017-07-01

    Full Text Available Abstract Background Social grants have been found to have an impact on health and wellbeing in multiple settings. Who receives the grant, however, has been the subject of discussion with regards to how the money is spent and who benefits from the grant. Methods Using survey data from 1214 young women who were in the intervention arm and completed at least one annual visit in the HPTN 068 trial, and qualitative interview data from a subset of 38 participants, we examined spending of a cash transfer provided to young women conditioned on school attendance. Results We found that spending was largely determined and controlled by young women themselves and that the cash transfer was predominately spent on toiletries, clothing and school supplies. In interview data, young women discussed the significant role of cash transfers for adolescent identity, specifically with regard to independence from family and status within the peer network. There were almost no negative consequences from receiving the cash transfer. Conclusions We established that providing adolescents access to cash was not reported to be associated with social harms or negative consequences. Rather, spending of the cash facilitated appropriate adolescent developmental behaviours. The findings are encouraging at a time in which there is global interest in addressing the structural drivers of HIV risk, such as poverty, for young women. Trial registration Clinicaltrials.gov NCT01233531 (1 Nov 2010. First participant enrolled 5 March 2011.

  3. Exploring the potential of a conditional cash transfer intervention to reduce HIV risk among young women in Iringa, Tanzania.

    Science.gov (United States)

    Kennedy, Caitlin E; Brahmbhatt, Heena; Likindikoki, Samuel; Beckham, Sarah W; Mbwambo, Jessie K; Kerrigan, Deanna

    2014-01-01

    Cash transfer programs seek to alter structural determinants of HIV risk such as poverty and gender inequality. We sought to explore the feasibility and potential effectiveness of a cash transfer intervention for young women as part of combination HIV prevention in Iringa, Tanzania. Qualitative, in-depth interviews were conducted with 116 stakeholders and residents from the region, including key informants, service delivery users, and members of key populations. Most respondents felt a cash transfer program would assist young women in Iringa to have more control over sexual decision-making and reduce poverty-driven transactional sex. Respondents were divided on who should receive funds: young women themselves, their parents/guardians, or community leaders. Cash amounts and suggested target groups varied, and several respondents suggested providing microcredit or small business capital instead of cash. Potential concerns included jealousy, dependency, and corruption. However, most respondents felt that some intervention was needed to address underlying poverty driving some sexual risk behavior. A cash transfer program could fill this role, ultimately reducing HIV, sexually transmitted infections, and unintended pregnancies. As increased attention is given to economic and structural interventions for HIV prevention, local input and knowledge should be considered in a program design.

  4. The role of unconditional cash transfers during a nutritional emergency in Maradi region, Niger: A prospective observational study

    International Nuclear Information System (INIS)

    Fenn, Bridget; Noura, Garba; Sibson, Victoria; Dolan, Carmel; Shoham, Jeremy

    2014-01-01

    Full text: Cash transfers (CTs) are becoming a popular intervention of choice by agencies and NGOs as a complementary or alternative approach to food-based assistance, as part of an emergency response. There is strong evidence that CT programmes lead to an increase in household income and protect household assets from being sold, resulting in an increase in food quantity and improved dietary diversity which in turn are thought to protect children from malnutrition. However, the evidence for an impact of CTs on undernutrition is mixed and inconclusive. Despite this, CTs are increasingly being used in emergency responses with an objective of preventing acute malnutrition. The main objective was to assess the effect of an unconditional CT implemented as part of an emergency response to food insecurity during a declared state of emergency in Aguie district, Maradi, Niger. This was a prospective observational study involving 6 consecutive months of data collection starting pre-intervention in April 2012 (baseline), on the same cohort of ‘poor’ and ‘very poor’ households, with a non-acutely malnourished child 6-36 months, enrolled by Save the Children in an unconditional CT programme (n = 412). Analyses using pre-post intervention data were carried out to assess changes in the potential mediating factors within the causal pathway between CT and acute malnutrition over time and to estimate risk factors associated with acute malnutrition. The study showed that the living standards of ‘poor’ and ‘very poor’ households improved; indicated by reduction in poverty (improvement in household expenditures, incomes, employment, asset protection, wealth rank and access to social networks) and improvement in household food security (reduced household hunger and greater household and child dietary diversity). Child anthropometric outcomes (weight-for-height and MUAC) significantly improved (p 0•05). The results from this study are consistent with the available

  5. Do Conditional Cash Transfers for Schooling Generate Lasting Benefits? A Five-Year Followup of PROGRESA/Oportunidades

    Science.gov (United States)

    Behrman, Jere R.; Parker, Susan W.; Todd, Petra E.

    2011-01-01

    Conditional cash transfer (CCT) programs link public transfers to human capital investment in hopes of alleviating current poverty and reducing its intergenerational transmission. However, little is known about their long-term impacts. This paper evaluates longer-run impacts on schooling and work of the best-known CCT program, Mexico's…

  6. The effect of unconditional cash transfers on adult labour supply: A unitary discrete choice model for the case of Ecuador

    NARCIS (Netherlands)

    Mideros, A.; O'Donoghue, C.

    2014-01-01

    We examine the effect of unconditional cash transfers by a unitary discrete labour supply model. We argue that there is no negative income effect of social transfers in the case of poor adults because leisure could not be assumed to be a normal good under such conditions. Using data from the

  7. Technology transfer in the Spanish nuclear programme

    International Nuclear Information System (INIS)

    Perez-Naredo, F.

    1983-01-01

    The paper describes the process of technology transfer under the Spanish nuclear programme and its three generations of nuclear power plants during the last 20 years, with special reference to the nine new plants equipped with Westinghouse pressurized water reactors and the rising level of national involvement in these stations. It deals with the development of Westinghouse Nuclear's organization in Spain, referring to its staff and to the manufacturers who supply equipment for the programme, going into particular detail where problems of quality assurance are concerned. In conclusion, it summarizes the present capacity of Spanish industry in various areas connected with the design, manufacture and construction of nuclear power plants. (author)

  8. Cash transfers and early childhood care and education in Zimbabwe: A critical inquiry to discourse, theory and practice

    Directory of Open Access Journals (Sweden)

    Hilton Nyamukapa

    2016-07-01

    Full Text Available Cash transfer based social protection can potentially contribute positively upon targeted beneficiaries on a variety of developmental aspects. This study explored the pilot and scaled-up phases of the Harmonised Social Cash Transfer program to determine impacts towards improving under-eight children’s access to food, education, and health services. Stories of significant change were gathered in retrospect from purposively sampled caregivers and children beneficiaries. Based on thematic and guided analysis, it emerged that the programmes’ theoretical and practical approaches renders the interventions less effective as impact assessment is narrowed to the early childhood cohort. This is furthered by relatively insufficient size of grants disbursed per household and commodity supply-side challenges. Consequently, a review to theoretical and practical tenets of the cash transfer approach becomes imminent in the Zimbabwean context. Targeting criteria needs refinement and supplemented with policy and multi-faceted public investment to address underlying limitations to impact on young children.

  9. The dynamic relationship between cash transfers and child health: can the child support grant in South Africa make a difference to child nutrition?

    Science.gov (United States)

    Zembe-Mkabile, Wanga; Ramokolo, Vundli; Sanders, David; Jackson, Debra; Doherty, Tanya

    2016-02-01

    Cash transfer programmes targeting children are considered an effective strategy for addressing child poverty and for improving child health outcomes in developing countries. In South Africa, the Child Support Grant (CSG) is the largest cash transfer programme targeting children from poor households. The present paper investigates the association of the duration of CSG receipt with child growth at 2 years in three diverse areas of South Africa. The study analysed data on CSG receipt and anthropometric measurements from children. Predictors of stunting were assessed using a backward regression model. Paarl (peri-urban), Rietvlei (rural) and Umlazi (urban township), South Africa, 2008. Children (n 746), median age 22 months. High rates of stunting were observed in Umlazi (28 %), Rietvlei (20 %) and Paarl (17 %). Duration of CSG receipt had no effect on stunting. HIV exposure (adjusted OR=2·30; 95 % CI 1·31, 4·03) and low birth weight (adjusted=OR 2·01, 95 % CI 1·02, 3·96) were associated with stunting, and maternal education had a protective effect on stunting. Our findings suggest that, despite the presence of the CSG, high rates of stunting among poor children continue unabated in South Africa. We argue that the effect of the CSG on nutritional status may have been eroded by food price inflation and limited progress in the provision of other important interventions and social services.

  10. Janani Suraksha Yojana: the conditional cash transfer scheme to reduce maternal mortality in India - a need for reassessment.

    Science.gov (United States)

    Rai, Rajesh Kumar; Singh, Prashant Kumar

    2012-01-01

    Alongside endorsing Millennium Development Goal 5 in 2000, India launched its National Population Policy in 2000 and the National Health Policy in 2002. However, these have failed thus far to reduce the maternal mortality ratio (MMR) by the targeted 5.5% per annum. Under the banner of the National Rural Health Mission, the Government of India launched a national conditional cash transfer (CCT) scheme in 2005 called Janani Suraksha Yojana (JSY), aimed to encourage women to give birth in health facilities which, in turn, should reduce maternal deaths. Poor prenatal care in general, and postnatal care in particular, could be considered the causes of the high number of maternal deaths in India (the highest in the world). Undoubtedly, institutional delivery in India has increased and MMR has reduced over time as a result of socioeconomic development coupled with advancement in health care including improved women's education, awareness and availability of health services. However, in the light of its performance, we argue that the JSY scheme was not well enough designed to be considered as an effective pathway to reduce MMR. We propose that the service-based CCT is not the solution to avoid/reduce maternal deaths and that policy-makers and programme managers should reconsider the 'package' of continuum of care and maternal health services to ensure that they start from adolescence and the pre-pregnancy period, and extend to delivery, postnatal and continued maternal health care.

  11. Conditional cash transfer impact evaluation: an evaluation of the costa rican secondary education program Avancemos

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    Catherine Mata

    2015-07-01

    Full Text Available This paper evaluates the impact of Avancemos, a conditional cash transfer program in Costa Rica. Specifically, this paper measures the impact on student desertion for the first year of the program using a panel created with the Household Surveys for Multiple Purposes for the years 2006 and 2007, elaborated by the National Institute of Statistics and Census. Using econometric tools and quasi-experimental methodologies such as Propensity Score Matching and difference-in-differences, we find a positive impact associated to the program for desertion and reinsertion. Specifically, for between 10 and 16 percent of the students who did not leave high school, it was only due to Avancemos, meaning that without the program they would have abandoned their studies. This is why we can conclude that Avancemos had a positive impact according to its planned objectives of preventing dropouts and ensuring their reinsertion.

  12. Technology transfer trends in Indian space programme

    Science.gov (United States)

    Sridhara Murthi, K. R.; Shoba, T. S.

    2010-10-01

    Indian space programme, whose objectives involve acceleration of economic and social development through applications of space technology, has been engaged in the development of state-of-the-art satellite systems, launch vehicles and equipment necessary for applications. Even during the early phase of evolution of this Programme, deliberate policies have been adopted by the national space agency, namely, Indian Space Research Organisation (ISRO), to promote spin-off benefit from the technologies developed for the use of space projects. Consistently adhering to this policy, ISRO has transferred over 280 technologies till date, spanning a wide spectrum of disciplines. This has resulted in a fruitful two-way cooperation between a number of SMEs and the ISRO. In order to make the technology transfer process effective, ISRO has adopted a variety of functional and organizational policies that included awareness building measures, licensee selection methods, innovative contract systems, diverse transfer processes, post licencing services and feedback mechanisms. Besides analyzing these policies and their evolution, the paper discusses various models adopted for technology transfer and their impact on assessment. It also touches upon relevant issues relating to creating interface between public funded R&D and the private commercial enterprises. It suggests few models in which international cooperation could be pursued in this field.

  13. Poverty and perceived stress: Evidence from two unconditional cash transfer programs in Zambia.

    Science.gov (United States)

    Hjelm, Lisa; Handa, Sudhanshu; de Hoop, Jacobus; Palermo, Tia

    2017-03-01

    Poverty is a chronic stressor that can lead to poor physical and mental health. This study examines whether two similar government poverty alleviation programs reduced the levels of perceived stress and poverty among poor households in Zambia. Secondary data from two cluster randomized controlled trials were used to evaluate the impacts of two unconditional cash transfer programs in Zambia. Participants were interviewed at baseline and followed over 36 months. Perceived stress among female caregivers was assessed using the Cohen Perceived Stress Scale (PSS). Poverty indicators assessed included per capita expenditure, household food security, and (nonproductive) asset ownership. Fixed effects and ordinary least squares regressions were run, controlling for age, education, marital status, household demographics, location, and poverty status at baseline. Cash transfers did not reduce perceived stress but improved economic security (per capita consumption expenditure, food insecurity, and asset ownership). Among these poverty indicators, only food insecurity was associated with perceived stress. Age and education showed no consistent association with stress, whereas death of a household member was associated with higher stress levels. In this setting, perceived stress was not reduced by a positive income shock but was correlated with food insecurity and household deaths, suggesting that food security is an important stressor in this context. Although the program did reduce food insecurity, the size of the reduction was not enough to generate a statistically significant change in stress levels. The measure used in this study appears not to be correlated with characteristics to which it has been linked in other settings, and thus, further research is needed to examine whether this widely used perceived stress measure appropriately captures the concept of perceived stress in this population. Copyright © 2017 UNICEF. Published by Elsevier Ltd.. All rights reserved.

  14. Promoting Child Development through Group-Based Parent Support within a Cash Transfer Program: Experimental Effects on Children's Outcomes

    Science.gov (United States)

    Fernald, Lia C. H.; Kagawa, Rose M. C.; Knauer, Heather A.; Schnaas, Lourdes; Guerra, Armando Garcia; Neufeld, Lynnette M.

    2017-01-01

    We examined effects on child development of a group-based parenting support program ("Educación Inicial" - EI) when combined with Mexico's conditional cash transfer (CCT) program ("Prospera," originally 'Oportunidades" and "Progresa"). This cluster-randomized trial included 204 communities (n = 1,113 children in…

  15. Educational Impacts and Cost-Effectiveness of Conditional Cash Transfer Programs in Developing Countries: A Meta-Analysis

    Science.gov (United States)

    García, Sandra; Saavedra, Juan E.

    2017-01-01

    We meta-analyze for impact and cost-effectiveness 94 studies from 47 conditional cash transfer programs in low- and middle-income countries worldwide, focusing on educational outcomes that include enrollment, attendance, dropout, and school completion. To conceptually guide and interpret the empirical findings of our meta-analysis, we present a…

  16. Learning Together: How Families Responded to Education Incentives in New York City's Conditional Cash Transfer Program. Executive Summary

    Science.gov (United States)

    Greenberg, David; Dechausay, Nadine; Fraker, Carolyn

    2011-01-01

    In 2007, New York City's Center for Economic Opportunity launched Opportunity NYC-Family Rewards, an experimental, privately funded, conditional cash transfer (CCT) program to help families break the cycle of poverty. Family Rewards provided payments to low-income families in six of the city's poorest communities for achieving specific goals…

  17. The Impact of a Cash Transfer Program on Cognitive Achievement: The "Bono de Desarrollo Humano" of Ecuador

    Science.gov (United States)

    Ponce, Juan; Bedi, Arjun S.

    2010-01-01

    Throughout Latin America, conditional cash transfer (CCT) programs play an important role in social policy. These programs aim to influence the accumulation of human capital, as well as reduce poverty. In terms of educational outcomes, a number of impact evaluation studies have shown that such programs have led to an increase in school enrollment,…

  18. Using Incentives to Change How Teenagers Spend Their Time: The Effects of New York City's Conditional Cash Transfer Program

    Science.gov (United States)

    Morris, Pamela; Aber, J. Lawrence; Wolf, Sharon; Berg, Juliette

    2012-01-01

    This report presents the results of an innovative study designed to provide a more detailed understanding of how parents and their teenage children were affected by the Opportunity NYC-Family Rewards program, a comprehensive conditional cash transfer program. The three-year program, launched by the Center for Economic Opportunity in the Mayor's…

  19. Where does the money go? Assessing the expenditure and income effects of the Philippines' Conditional Cash Transfer Program

    OpenAIRE

    Stella Luz A. Quimbo; Joseph J. Capuno; Aleli D. Kraft; Rhea Molato; Carlos Tan, Jr.

    2015-01-01

    Evaluation studies on conditional cash transfers (CCT) in the Philippines found small if not insignificantly different from zero effects on household consumption. We use propensity score matching to examine how recipients made use of the money they received, taking into account possible changes in recipient behavior. We find evidence of crowding in - CCT households receive higher transfers from other domestic sources as a positive spillover from becoming CCT beneficiaries Poor CCT households ...

  20. Cash pooling

    OpenAIRE

    Lozovaya, Karina

    2009-01-01

    This work makes a mention of cash management. At next chapter describes two most known theoretical models of cash management -- Baumol Model and Miller-Orr Model. Principal part of work is about cash pooling, types of cash pooling, cash pooling at Czech Republic and influence of cash pooling over accounting and taxes.

  1. Can conditional cash transfers improve the uptake of nutrition interventions and household food security? Evidence from Odisha's Mamata scheme.

    Directory of Open Access Journals (Sweden)

    Kalyani Raghunathan

    Full Text Available There is considerable global evidence on the effectiveness of cash transfers in improving health and nutrition outcomes; however, the evidence from South Asia, particularly India, is limited. In the context of India where more than a third of children are undernourished, and where there is considerable under-utilization of health and nutrition interventions, it is opportune to investigate the impact of cash transfer programs on the use of interventions. We study one conditional cash transfer program, Mamata scheme, implemented in the state of Odisha, in India that targeted pregnant and lactating women. Using survey data on 1161 households from three districts in the state of Odisha, we examine the effect of the scheme on eight outcomes: 1 pregnancy registration; 2 receipt of antenatal services; 3 receipt of iron and folic acid (IFA tablets; 4 exposure to counseling during pregnancy; 5 exposure to postnatal counseling; 6 exclusive breastfeeding; 7 full immunization; and 8 household food security. We conduct regression analyses and correct for endogeneity using nearest-neighbor matching and inverse-probability weighting models. We find that the receipt of payments from the Mamata scheme is associated with a 5 percentage point (pp increase in the likelihood of receiving antenatal services, a 10 pp increase in the likelihood of receiving IFA tablets, and a decline of 0.84 on the Household Food Insecurity Access Scale. These results provide the first quantitative estimates of effects associated with the Mamata scheme, which can inform the design of government policies related to conditional cash transfers.

  2. Political Competition and the Diffusion of Conditional Cash Transfers in Brazil

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    Denilson Bandeira Coêlho

    2012-12-01

    Full Text Available What factors determine the diffusion of social policies? This article exam - ines the launching of conditional cash transfer programs by Brazilian munici - palities to explore this problem. The literature of political science asserts that such programs have been widely implemented because they correspond to an al - ternative policy strategy adopted by governments facing opposition to implement universal public policies. So, political competition would be at the root of CCT launching. This article presents an alternative explanation. From 1995 to 2001, local governments created or emulated the Bolsa Escola Program (BEP in all regions of the country. Such a path continued after the lauching of the national Bolsa Escola by the federal government. Why did some local governments decide to adopt the national BEP and others did not? To answer these questions, the research tests the influence of structural, internal and external variables on the dissemination of CCT programs. Two main hypotheses are tested. The first as - serts that local political competition is positive for policy diffusion. The second hypothesis claims that party alignment between the municipal and federal levels increases the likelihood of municipalities adopting the federal BEP. The research uses Event History Analysis to test statistically the impact of political incentives on policy diffusion among São Paulo State’s municipalities. Two types of policy diffusion are examined: horizontal and vertical. The findings confirm that polit - ical competition influences the horizontal diffusion among municipalities. Unex - pectedly, vertical diffusion does not occur because of party alignment or political competition. Rather, levels of socioeconomic development drive policy emulation.

  3. Conditional cash transfer programs and the health and nutrition of Latin American children

    Directory of Open Access Journals (Sweden)

    Sofia Segura-Pérez

    Full Text Available ABSTRACT Objective To 1 describe the benefits, conditions, coverage, funding, goals, governance, and structure of well-established conditional cash transfer programs (CCTs in Latin America and 2 identify their health and nutritional impacts among children under 5 years old. Methods A realist review was conducted. CCTs were included if they met the following inclusion criteria: 1 current national-level program; 2 coverage of at least 50% of the target population; 3 continuous operation at scale for 10+ years; 4 clear description of structure, funding sources, and governance; 5 both health/nutrition- and education-related conditions for participation; and 6 available impact evaluation studies with health, development, and/or nutrition indicators among children under 5 years old. Three CCTs (one each in Brazil, Colombia, and Mexico met the criteria. Results There was consistent evidence that the three CCTs selected for review had positive impacts on child health and nutrition outcomes in their respective countries. In all three countries, the programs were scaled up and positive impacts were documented relatively quickly. All three programs had strong political support and clear and transparent governance structures, including accountability and social participation mechanisms, which might explain their success and sustainability. Conclusions CCTs in Latin America have had a positive impact on child health and nutrition outcomes among the poorest families. A key challenge for the future is to reform these programs to help families move out of not only extreme poverty but all poverty in order to lead healthy and productive lives, as called for in the post-2105 Sustainable Development Goals.

  4. India's JSY cash transfer program for maternal health: Who participates and who doesn't - a report from Ujjain district

    Directory of Open Access Journals (Sweden)

    Sidney Kristi

    2012-01-01

    Full Text Available Abstract Background India launched a national conditional cash transfer program, Janani Suraksha Yojana (JSY, aimed at reducing maternal mortality by promoting institutional delivery in 2005. It provides a cash incentive to women who give birth in public health facilities. This paper studies the extent of program uptake, reasons for participation/non participation, factors associated with non uptake of the program, and the role played by a program volunteer, accredited social health activist (ASHA, among mothers in Ujjain district in Madhya Pradesh, India. Methods A cross-sectional study was conducted from January to May 2011 among women giving birth in 30 villages in Ujjain district. A semi-structured questionnaire was administered to 418 women who delivered in 2009. Socio-demographic and pregnancy related characteristics, role of the ASHA during delivery, receipt of the incentive, and reasons for place of delivery were collected. Multinomial regression analysis was used to identify predictors for the outcome variables; program delivery, private facility delivery, or a home delivery. Results The majority of deliveries (318/418; 76% took place within the JSY program; 81% of all mothers below poverty line delivered in the program. Ninety percent of the women had prior knowledge of the program. Most program mothers reported receiving the cash incentive within two weeks of delivery. The ASHA's influence on the mother's decision on where to deliver appeared limited. Women who were uneducated, multiparious or lacked prior knowledge of the JSY program were significantly more likely to deliver at home. Conclusion In this study, a large proportion of women delivered under the program. Most mothers reporting timely receipt of the cash transfer. Nevertheless, there is still a subset of mothers delivering at home, who do not or cannot access emergency obstetric care under the program and remain at risk of maternal death.

  5. Effects of cash transfers on Children's health and social protection in Sub-Saharan Africa: differences in outcomes based on orphan status and household assets.

    Science.gov (United States)

    Crea, Thomas M; Reynolds, Andrew D; Sinha, Aakanksha; Eaton, Jeffrey W; Robertson, Laura A; Mushati, Phyllis; Dumba, Lovemore; Mavise, Gideon; Makoni, J C; Schumacher, Christina M; Nyamukapa, Constance A; Gregson, Simon

    2015-05-28

    Unconditional and conditional cash transfer programmes (UCT and CCT) show potential to improve the well-being of orphans and other children made vulnerable by HIV/AIDS (OVC). We address the gap in current understanding about the extent to which household-based cash transfers differentially impact individual children's outcomes, according to risk or protective factors such as orphan status and household assets. Data were obtained from a cluster-randomised controlled trial in eastern Zimbabwe, with random assignment to three study arms - UCT, CCT or control. The sample included 5,331 children ages 6-17 from 1,697 households. Generalized linear mixed models were specified to predict OVC health vulnerability (child chronic illness and disability) and social protection (birth registration and 90% school attendance). Models included child-level risk factors (age, orphan status); household risk factors (adults with chronic illnesses and disabilities, greater household size); and household protective factors (including asset-holding). Interactions were systematically tested. Orphan status was associated with decreased likelihood for birth registration, and paternal orphans and children for whom both parents' survival status was unknown were less likely to attend school. In the UCT arm, paternal orphans fared better in likelihood of birth registration compared with non-paternal orphans. Effects of study arms on outcomes were not moderated by any other risk or protective factors. High household asset-holding was associated with decreased likelihood of child's chronic illness and increased birth registration and school attendance, but household assets did not moderate the effects of cash transfers on risk or protective factors. Orphaned children are at higher risk for poor social protection outcomes even when cared for in family-based settings. UCT and CCT each produced direct effects on children's social protection which are not moderated by other child- and household

  6. Unconditional cash transfers for clinical and economic outcomes among HIV-affected Ugandan households: a bayesian randomised trial.

    Science.gov (United States)

    Mills, Edward J; Adhvaryu, Achyuta; Jakiela, Pamela; Birungi, Josephine; Okoboi, Stephen; Chimulwa, Teddy; Wangisi, Jonathan; Achilla, Tina; Popoff, Evan; Golchi, Shirin; Karlan, Dean

    2018-05-28

    HIV infection has profound clinical and economic costs at the household level. This is particularly important in low-income settings, where access to additional sources of income or loans may be limited. While several microfinance interventions have been proposed, unconditional cash grants, a strategy to allow participants to choose how to use finances that may improve household security and health, has not previously been evaluated. We examined the effect of an unconditional cash transfer to HIV-infected individuals using a 2 x 2 factorial randomised trial in two rural districts in Uganda. Our primary outcomes were changes in CD4 cell count, sexual behaviors, and adherence to ART. Secondary outcomes were changes in household food security and adult mental health. We applied a Bayesian approach for our primary analysis. We randomized 2170 patients as participatants, with 1081 receiving a cash grant. We found no important intervention effects on CD4 t-cell counts between groups (mean difference [MD] 35.48, 95% Credible Interval [CrI] -59.9-1131.6), food security (odds ratio [OR] 1.22, 95% CrI: 0.47, 3.02), medication adherence (OR 3.15, 95% CrI: 0.58, 18.15), or sexual behavior (OR 0.45 95% CrI: 0.12, 1.55), or health expenditure in the previous 3 weeks (Mean Difference $2.65, 95% CrI: -9.30, 15.69). In secondary analysis, we detected an effect of mental planning on CD4 change between groups (104.2 cells, 9% CrI: 5.99, 202.16). We did not have data on viral load outcomes. Although all outcomes were associated with favorable point estimates, our trial did not demonstrate important effects of unconditional cash grants on health outcomes.

  7. Effect of conditional cash transfer on choice and utilization of contraceptives among newly married couples in Satara district

    Directory of Open Access Journals (Sweden)

    Asha K Pratinidhi

    2014-01-01

    Full Text Available Context: Satara district of western Maharashtra is in late expanding phase of demographic cycle. Postponement of first pregnancy with the use of reversible contraceptives is the need of the hour. Since 2007, Satara district is implementing a conditional cash transfer scheme second honeymoon package (SHP. Objectives: The objectives of this study are: (1 To find out the effect of conditional cash transfer on choice and utilization of contraceptives among participants of SHP. (2 To identify various barriers to the use of contraceptives. Materials and Methods: This was an evaluation study of a community based interventional program. Cases were the participants of SHP program while the controls were the couples residing in the same village as that of participants and married in the same year. Enquiries were made about their knowledge of contraceptives, reasons of postponement, choice of contraceptives, problems faced while using them, perceived benefits of participation, reasons for non-participation and non-use of contraceptives, etc. Results: This study has found out that 24.8% controls and 57.6% participant couples were having knowledge of contraception before their marriage. Amongst the participants of the scheme and controls, male condom was the most popular method used by 80.8% participants, followed by oral pills by 9.22% couples. Contraception prevalence rate among control couples was 17.6%, while that in participants was 91.8%. Resistance from family members, side-effects and failure of contraceptives were some of the barriers to their use. Conclusions: Conditional cash transfer has encouraged the use of contraceptives in acceptors of SHP. By participating in SHP and postponing first pregnancy 15.8% could complete their education, job/career betterment achieved by 16.4% and 19.3% adored marital pleasure.

  8. The way to a man’s heart is through his stomach?: a mixed methods study on causal mechanisms through which cash and in-kind food transfers decreased intimate partner violence

    Directory of Open Access Journals (Sweden)

    Ana Maria Buller

    2016-06-01

    Full Text Available Abstract Background Intimate partner violence (IPV is highly prevalent and has detrimental effects on the physical and mental health of women across the world. Despite emerging evidence on the impacts of cash transfers on intimate partner violence, the pathways through which reductions in violence occur remain under-explored. A randomised controlled trial of a cash and in-kind food transfer programme on the northern border of Ecuador showed that transfers reduced physical or sexual violence by 30 %. This mixed methods study aimed to understand the pathways that led to this reduction. Methods We conducted a mixed methods study that combined secondary analysis from a randomised controlled trial relating to the impact of a transfer programme on IPV with in-depth interviews and focus group discussions with male and female beneficiaries. A sequential analysis strategy was followed, whereby qualitative results guided the choice of variables for the quantitative analysis and qualitative insights were used to help interpret the quantitative findings. Results We found qualitative and quantitative evidence that the intervention led to reductions in IPV through three pathways operating at the couple, household and individual level: i reduced day-to-day conflict and stress in the couple; ii improved household well-being and happiness; and iii increased women’s decision making, self-confidence and freedom of movement. We found little evidence that any type of IPV increased as a result of the transfers. Discussion While cash and in-kind transfers can be important programmatic tools for decreasing IPV, the positive effects observed in this study seem to depend on circumstances that may not exist in all settings or programmes, such as the inclusion of a training component. Moreover, the programme built upon rather than challenged traditional gender roles by targeting women as transfer beneficiaries and framing the intervention under the umbrella of food

  9. Cash Management.

    Science.gov (United States)

    Fischer, Mary L.; Ostrom, John S.

    1982-01-01

    Elements of an effective management program for colleges and universities are examined. Five basic purposes of an effective program of cash management are identified: developing accurate cash projections, managing cash receipts, controlling cash disbursements, establishing sound banking relationships, and investing funds. It is suggested that all…

  10. Can conditional cash transfer programs generate equality of opportunity in highly unequal societies? Evidence from Brazil

    Directory of Open Access Journals (Sweden)

    Simone Bohn

    2014-09-01

    Full Text Available This article examines whether the state, through conditional cash transfer programs (CCT, can reduce the poverty and extremely poverty in societies marred by high levels of income concentration. We focus on one of the most unequal countries in the globe, Brazil, and analyze the extent to which this country's CCT program - Bolsa Família (BF, Family Grant program - is able to improve the life chances of extremely poor beneficiaries, through the three major goals of PBF: First, to immediately end hunger; second, to create basic social rights related to healthcare and education; finally, considering also complementary policies, to integrate adults into the job market. The analysis relies on a quantitative survey with 4,000 beneficiaries and a qualitative survey comprised of in-depth interviews with 38 program's participants from all the regions of the country in 2008, it means that this study is about the five first years of the PBF. In order to answer the research questions, we ran four probit analyses related: a the determinants of the realization of prenatal care; b the determinants of food security among BF beneficiaries, c the determinants that adult BF recipients will return to school, d the determinants that a BF beneficiary will obtain a job. Important results from the study are: First, those who before their participation on PBF were at the margins have now been able to access healthcare services on a more regular basis. Thus, the women at the margins who were systematically excluded - black women, poorly educated and from the North - now, after their participation in the CCT program, have more access to prenatal care and can now count with more availability of public healthcare network. Second, before entering the Bolsa Família program, 50.3% of the participants faced severe food insecurity. This number went down to 36.8% in very five years. Men are more likely than women; non-blacks more likely than blacks; and South and Centre

  11. Bolsa Família (Family Grant) Programme: an analysis of Brazilian income transfer programme

    NARCIS (Netherlands)

    L. Mourao (Luciana); A. Macedo de Jesus (Anderson)

    2012-01-01

    markdownabstract__Abstract__ Income transfer programmes are common in various countries and play an important role in combating poverty. This article presents a review of the results of the Bolsa Família (Family Grant) Programme, implemented in Brazil by the government of Lula da Silva in

  12. Impact of a cash-for-work programme on food consumption and nutrition among women and children facing food insecurity in rural Bangladesh.

    Science.gov (United States)

    Mascie-Taylor, C G N; Marks, M K; Goto, R; Islam, R

    2010-11-01

    To determine whether a cash-for-work programme during the annual food insecurity period in Bangladesh improved nutritional status in poor rural women and children. The panel study involved a random sample of 895 households from over 50,000 enrolled in a cash-for-work programme between September and December 2007 and 921 similar control households. The height, weight and mid-upper arm circumference of one woman and child aged less than 5 years from each household were measured at baseline and at the end of the study (mean time: 10 weeks). Women reported 7-day household food expenditure and consumption on both occasions. Changes in parameters were compared between the two groups. At baseline, no significant difference existed between the groups. By the study end, the difference in mean mid-upper arm circumference between women in the intervention and control groups had widened by 2.29 mm and the difference in mean weight, by 0.88 kg. Among children, the difference in means between the two groups had also widened in favour of the intervention group for: height (0.08 cm; P<0.05), weight (0.22 kg; P<0.001), mid-upper arm circumference (1.41 mm; P<0.001) and z-scores for height-for-age (0.02; P<0.001), weight-for-age (0.17; P<0.001), weight-for-height (0.23; P<0.001) and mid-upper arm circumference (0.12; P<0.001). Intervention households spent more on food and consumed more protein-rich food at the end of the study. The cash-for-work programme led to greater household food expenditure and consumption and women's and children's nutritional status improved.

  13. The Impact of a Holistic Conditional Cash Transfer Program in New York City on Parental Financial Investment, Student Time Use, and Educational Processes and Outcomes

    Science.gov (United States)

    Aber, J. Lawrence; Morris, Pamela; Wolf, Sharon; Berg, Juliette

    2016-01-01

    This article examines the impacts of Opportunity New York City-Family Rewards, the first holistic conditional cash transfer (CCT) program evaluated in the United States, on parental financial investments in children, and high school students' academic time use, motivations and self-beliefs, and achievement outcomes. Family Rewards, launched by the…

  14. The REFANI-N study protocol: a cluster-randomised controlled trial of the effectiveness and cost-effectiveness of early initiation and longer duration of emergency/seasonal unconditional cash transfers for the prevention of acute malnutrition among children, 6-59 months, in Tahoua, Niger.

    Science.gov (United States)

    Sibson, Victoria L; Grijalva-Eternod, Carlos S; Bourahla, Leila; Haghparast-Bidgoli, Hassan; Morrison, Joanna; Puett, Chloe; Trenouth, Lani; Seal, Andrew

    2015-12-23

    The global burden of acute malnutrition among children remains high, and prevalence rates are highest in humanitarian contexts such as Niger. Unconditional cash transfers are increasingly used to prevent acute malnutrition in emergencies but lack a strong evidence base. In Niger, non-governmental organisations give unconditional cash transfers to the poorest households from June to September; the 'hunger gap'. However, rising admissions to feeding programmes from March/April suggest the intervention may be late. This cluster-randomised controlled trial will compare two types of unconditional cash transfer for 'very poor' households in 'vulnerable' villages defined and identified by the implementing organisation. 3,500 children (6-59 months) and 2,500 women (15-49 years) will be recruited exhaustively from households targeted for cash and from a random sample of non-recipient households in 40 villages in Tahoua district. Clusters of villages with a common cash distribution point will be assigned to either a control group which will receive the standard intervention (n = 10), or a modified intervention group (n = 10). The standard intervention is 32,500 FCFA/month for 4 months, June to September, given cash-in-hand to female representatives of 'very poor' households. The modified intervention is 21,500 FCFA/month for 5 months, April, May, July, August, September, and 22,500 FCFA in June, providing the same total amount. In both arms the recipient women attend an education session, women and children are screened and referred for acute malnutrition treatment, and the households receive nutrition supplements for children 6-23 months and pregnant and lactating women. The trial will evaluate whether the modified unconditional cash transfer leads to a reduction in acute malnutrition among children 6-59 months old compared to the standard intervention. The sample size provides power to detect a 5 percentage point difference in prevalence of acute malnutrition between trial

  15. Costs and consequences of a cash transfer for hospital births in a rural district of Uttar Pradesh, India.

    Science.gov (United States)

    Coffey, Diane

    2014-08-01

    The Janani Suraksha Yojana, India's "safe motherhood program," is a conditional cash transfer to encourage women to give birth in health facilities. Despite the program's apparent success in increasing facility-based births, quantitative evaluations have not found corresponding improvements in health outcomes. This study analyses original qualitative data collected between January, 2012 and November, 2013 in a rural district in Uttar Pradesh to address the question of why the program has not improved health outcomes. It finds that health service providers are focused on capturing economic rents associated with the program, and provide an extremely poor quality care. Further, the program does not ultimately provide beneficiaries a large net monetary transfer at the time of birth. Based on a detailed accounting of the monetary costs of hospital and home deliveries, this study finds that the value of the transfer to beneficiaries is small due to costs associated with hospital births. Finally, this study also documents important emotional and psychological costs to women of delivering in the hospital. These findings suggest the need for a substantial rethinking of the program, paying careful attention to incentivizing health outcomes. Copyright © 2014 Elsevier Ltd. All rights reserved.

  16. The Responses of Youth to a Cash Transfer Conditional on Schooling: A Quasi-Experimental Study

    DEFF Research Database (Denmark)

    Humlum, Maria Knoth; Vejlin, Rune Majlund

    2013-01-01

    . Specifically, individuals born late in a quarter receive a larger total transfer than comparable individuals born early in the following quarter. We find that the transfer increases the labor market participation of youth and the number of months worked. The estimated effect is larger for individuals from low...

  17. A TRANSFERABLE MODEL FOR INNOVATIVE JOINT POSTGRADUATE DEGREE PROGRAMME DEVELOPMENT

    DEFF Research Database (Denmark)

    Maclachlan, Ross; Ion, William; Kochanowska, Rowena

    2009-01-01

    aim of the programme is to produce graduates with an expanded perspective of innovation management to meet the needs of global industry. In particular this is to be achieved through a curriculum that integrates design based modules with progressive innovation and technology management education....... The collaboration brings depth and breadth to the innovation curriculum, and the student experience, through student mobility and the complementary expertise of partners. However, for higher education institutions to effectively collaborate at both administrative and academic levels, a number of new challenges must...... be overcome. This paper reflects on specific challenges met during development of the GIM programme and presents a programme model addressing these. The model is presented as transferable to other consortia and as basis for a set of tentative principles for joint programme development with particular...

  18. Bolsa Família (Family Grant Programme: an analysis of Brazilian income transfer programme

    Directory of Open Access Journals (Sweden)

    Luciana Mourão

    2012-06-01

    Full Text Available Income transfer programmes are common in various countries and play an important role in combating poverty. This article presents a review of the results of the Bolsa Família (Family Grant Programme, implemented in Brazil by the government of Lula da Silva in 2004. Over the last seven years many evaluations of the programme have been conducted, allowing an overview of its results and its strong and weak points to be mapped. Five central aspects relating to the programme are discussed in article five: (1 programme access, (2 hunger fighting results, (3 programme financial impacts, (4 conditioning factors of education and health, (5 supplementary programs and social mobility. The results of scientific research were presented for each of these aspects, and any of these believed to be convergent or divergent were discussed. As a general result it was concluded that the programme has generated significant results for the country, but there are still some issues that need to be reviewed, such as conditioning factors and the integrated management of the programme.

  19. Comparison of the effects of conditional food and cash transfers of the Ethiopian Productive Safety Net Program on household food security and dietary diversity in the face of rising food prices: ways forward for a more nutrition-sensitive program.

    Science.gov (United States)

    Baye, Kaleab; Retta, Negussie; Abuye, Cherinet

    2014-09-01

    In light of the continuing rise in food prices during and after the 2008 world food crisis, whether food and cash transfers are equally effective in improving food security and diet quality is debatable. To compare the effects of conditional food and cash transfers of the Ethiopian Productive Safety Net Program (PSNP) on household food security and dietary diversity. Data on household dietary diversity, child anthropometry, food security, and preference of transfer modalities (food, cash, or mixed) were generated from a cross-sectional survey of 195 PSNP beneficiary households (67 receiving food and 128 receiving cash) in Hawella Tulla District, Sidama, southern Ethiopia. Most beneficiaries (96%) reported food shortages, and 47% reported food shortages that exceeded 3 months. Households receiving cash had better household dietary diversity scores (p = .02) and higher consumption of oils and fats (p = .003) and vitamin A-rich foods (p = .002). Compared with households receiving food, households receiving cash were more affected by increases in food prices that forced them to reduce their number of daily meals (p diversity than households receiving food, a result suggesting that cash transfers may be more effective. However, the continuing rise infood prices may offset these benefits unless cash transfers are index-linked to food price fluctuations.

  20. The impact of conditional cash transfers on child health in low- and middle-income countries: a systematic review.

    Science.gov (United States)

    Owusu-Addo, Ebenezer; Cross, Ruth

    2014-08-01

    The review aimed to assess the effectiveness of conditional cash transfers (CCTs) in improving child health in low- and middle-income countries. Seven electronic databases were searched for papers: MEDLINE, EMBASE, PubMed, PsychINFO, BIOSIS Previews, Academic Search Complete, and CSA Sociological Abstracts. The included studies comprised of randomised controlled trials and controlled before-and-after studies evaluating the impact of CCTs on child health. Due to the substantial heterogeneity of the studies, a narrative synthesis was conducted on the extracted data. Sixteen studies predominantly from Latin American countries met the inclusion criteria. The outcomes reported by the studies in relation to CCTs' effectiveness in improving child health were reduction in morbidity risk, improvement in nutritional outcomes, health services utilisation, and immunisation coverage. The review suggests that to a large extent, CCTs are effective in improving child health by addressing child health determinants such as access to health care, child and maternal nutrition, morbidity risk, immunisation coverage, and household poverty in developing countries particularly middle-income countries. Of importance to both policy and practice, it appears that CCTs require effective functioning of health care systems to effectively promote child health.

  1. “The Impact of Community-based Capital Cash Transfers on the Schooling of Orphaned and Vulnerable Children in Kenya”

    DEFF Research Database (Denmark)

    Skovdal, Morten; Webale, A.; Mwasiaji, W.

    2013-01-01

    In this article we report on a community-based capital cash transfer initiative (CCCT) in Kenya that sought to mobilise and enable HIV-affected communities to respond to the needs of orphaned and vulnerable children. With bilateral funding, the Social Services Department in Kenya provided 80 comm...... of orphaned children, particularly amongst girls. We conclude that CCCT is a viable strategy for improving orphan schooling in sub-Saharan Africa....

  2. The feasibility of using mobile-phone based SMS reminders and conditional cash transfers to improve timely immunization in rural Kenya.

    Science.gov (United States)

    Wakadha, Hotenzia; Chandir, Subhash; Were, Elijah Victor; Rubin, Alan; Obor, David; Levine, Orin S; Gibson, Dustin G; Odhiambo, Frank; Laserson, Kayla F; Feikin, Daniel R

    2013-01-30

    Demand-side strategies could contribute to achieving high and timely vaccine coverage in rural Africa, but require platforms to deliver either messages or conditional cash transfers (CCTs). We studied the feasibility of using short message services (SMS) reminders and mobile phone-based conditional cash transfers (CCTs) to reach parents in rural Western Kenya. In a Health and Demographic Surveillance System (HDSS), mothers with children aged 0-3 weeks old were approached to determine who had access to a mobile phone. SMS reminders were sent three days prior to and on the scheduled day of immunization for 1st (age 6 weeks) and 2nd doses (age 10 weeks) of DTP-HepB-Hib (Pentavalent) vaccine, using open-source Rapid SMS software. Approximately $2.00 USD was sent as cash using mPESA, a mobile money transfer platform (2/3 of mothers), or airtime (1/3 of mothers) via phone if the child was vaccinated within 4 weeks of the scheduled date. Follow-up surveys were done when children reached 14 weeks of age. We approached 77 mothers; 72 were enrolled into the study (26% owned a phone and 74% used someone else's). Of the 63 children with known vaccination status at 14 weeks of age, 57 (90%) received pentavalent1 and 54 (86%) received pentavalent2 within 4 weeks of their scheduled date. Of the 61 mothers with follow-up surveys administered at 14 weeks of age, 55 (90%) reported having received SMS reminders. Of the 54 women who reported having received SMS reminders and answered the CCT questions on the survey, 45 (83%) reported receiving their CCT. Most (89%) of mothers in the mPESA group obtained their cash within 3 days of being sent their credit via mobile phone. All mothers stated they preferred CCTs as cash via mobile phone rather than airtime. Of the 9 participants who did not vaccinate their children at the designated clinic 2(22%) cited refusals by husbands to participate in the study. The data show that in rural Western Kenya mobile phone-based strategies are a

  3. Cash and in-kind transfers in poor rural communities in Mexico increase household fruit, vegetable, and micronutrient consumption but also lead to excess energy consumption.

    Science.gov (United States)

    Leroy, Jef L; Gadsden, Paola; Rodríguez-Ramírez, Sonia; de Cossío, Teresa González

    2010-03-01

    Conditional transfer programs are increasingly popular, but the impact on household nutrient consumption has not been studied. We evaluated the impact of the Programa de Apoyo Alimentario (PAL), a cash and in-kind transfer program, on the energy and nutrient consumption of poor rural households in Mexico. The program has been shown to reduce poverty. Beneficiary households received either a food basket (including micronutrient-fortified milk) or cash. A random sample of 206 rural communities in Southern Mexico was randomly assigned to 1 of 4 groups: a monthly food basket with or without health and nutrition education, a cash transfer with a cost to the government equivalent to the food basket (14 USD/mo) with education, or control. The impact after 14 mo of exposure was estimated in a panel of 5823 households using a double difference regression model with household fixed effects. PAL was associated with increases (P consumption of total energy (5-9%), energy from fruits and vegetables (24-28%), and energy from animal source foods (24-39%). It also affected iron, zinc, and vitamin A and C consumption (P consumption of energy and all nutrients was greater in the food basket group (P energy-deficient should be carefully redesigned to ensure that pulling poor families out of poverty leads to improved micronutrient intake but not to increased energy consumption.

  4. Effects of Conditional Cash Transfers (CCT in Anti-Poverty Programs. An Empirical Approach with Panel Data for the Mexican Case of PROSPERA-Oportunidades (2002–2012

    Directory of Open Access Journals (Sweden)

    Odra Angélica Saucedo Delgado

    2018-05-01

    Full Text Available Conditional Cash Transfer Programs (CCT have been implemented in México and Latin America since the late 1990’s. This type of program focuses on providing social government services by way of direct cash transfers to poor families that are often conditioned to the use of public education and health services. Despite the apparent short-term success of these CCT programs in the Latin American context, there still is much debate about whether CCT programs are effective in alleviating poverty. This paper analyzes the effectiveness of conditional cash transfer programs as a long-term incentive in the use of public services—health and education—among beneficiary families of PROSPERA-Oportunidades in Mexico. The Average Effect of Treatment on the Treated (ATT for the time period 2002–2012 is estimated based on data from the Mexican Family Life Survey (MxFLS using Propensity Score Matching (PSM. The results show that the program’s impact on the use of preventive health and education services by poor families cannot be sustained in the long-term, which puts in doubt the effectiveness of this social protection intervention program in combating poverty in Mexico.

  5. Impact on birth weight and child growth of Participatory Learning and Action women's groups with and without transfers of food or cash during pregnancy: Findings of the low birth weight South Asia cluster-randomised controlled trial (LBWSAT in Nepal.

    Directory of Open Access Journals (Sweden)

    Naomi M Saville

    Full Text Available Undernutrition during pregnancy leads to low birthweight, poor growth and inter-generational undernutrition. We did a non-blinded cluster-randomised controlled trial in the plains districts of Dhanusha and Mahottari, Nepal to assess the impact on birthweight and weight-for-age z-scores among children aged 0-16 months of community-based participatory learning and action (PLA women's groups, with and without food or cash transfers to pregnant women.We randomly allocated 20 clusters per arm to four arms (average population/cluster = 6150. All consenting married women aged 10-49 years, who had not had tubal ligation and whose husbands had not had vasectomy, were monitored for missed menses. Between 29 Dec 2013 and 28 Feb 2015 we recruited 25,092 pregnant women to surveillance and interventions: PLA alone (n = 5626; PLA plus food (10 kg/month of fortified wheat-soya 'Super Cereal', n = 6884; PLA plus cash (NPR750≈US$7.5/month, n = 7272; control (existing government programmes, n = 5310. 539 PLA groups discussed and implemented strategies to improve low birthweight, nutrition in pregnancy and hand washing. Primary outcomes were birthweight within 72 hours of delivery and weight-for-age z-scores at endline (age 0-16 months. Only children born to permanent residents between 4 June 2014 and 20 June 2015 were eligible for intention to treat analyses (n = 10936, while in-migrating women and children born before interventions had been running for 16 weeks were excluded. Trial status: completed.In PLA plus food/cash arms, 94-97% of pregnant women attended groups and received a mean of four transfers over their pregnancies. In the PLA only arm, 49% of pregnant women attended groups. Due to unrest, the response rate for birthweight was low at 22% (n = 2087, but response rate for endline nutritional and dietary measures exceeded 83% (n = 9242. Compared to the control arm (n = 464, mean birthweight was significantly higher in the PLA plus food arm by 78·0 g

  6. Effect of the conditional cash transfer program Oportunidades on vaccination coverage in older Mexican people

    Science.gov (United States)

    2013-01-01

    Background Immunization is one of the most effective ways of preventing illness, disability and death from infectious diseases for older people. However, worldwide immunization rates are still low, particularly for the most vulnerable groups within the elderly population. The objective of this study was to estimate the effect of the Oportunidades -an incentive-based poverty alleviation program- on vaccination coverage for poor and rural older people in Mexico. Methods Cross-sectional study, based on 2007 Oportunidades Evaluation Survey, conducted in low-income households from 741 rural communities (localities with <2,500 inhabitants) of 13 Mexican states. Vaccination coverage was defined according to three individual vaccines: tetanus, influenza and pneumococcal, and for complete vaccination schedule. Propensity score matching and linear probability model were used in order to estimate the Oportunidades effect. Results 12,146 older people were interviewed, and 7% presented cognitive impairment. Among remaining, 4,628 were matched. Low coverage rates were observed for the vaccines analyzed. For Oportunidades and non-Oportunidades populations were 46% and 41% for influenza, 52% and 45% for pneumococcal disease, and 79% and 71% for tetanus, respectively. Oportunidades effect was significant in increasing the proportion of older people vaccinated: for complete schedule 5.5% (CI95% 2.8-8.3), for influenza 6.9% (CI95% 3.8-9.6), for pneumococcal 7.2% (CI95% 4.3-10.2), and for tetanus 6.6% (CI95% 4.1-9.2). Conclusions The results of this study extend the evidence on the effect that conditional transfer programs exert on health indicators. In particular, Oportunidades increased vaccination rates in the population of older people. There is a need to continue raising vaccination rates, however, particularly for the most vulnerable older people. PMID:23835202

  7. The impact of a conditional cash transfer program on the utilization of non-targeted services: Evidence from Afghanistan.

    Science.gov (United States)

    Witvorapong, Nopphol; Foshanji, Abo Ismael

    2016-03-01

    While existing research suggests that health-related conditional cash transfer (CCT) programs have positive impacts on the utilization of CCT-targeted health services, little is known as to whether they also influence the utilization of non-targeted health services-defined as general health services for which program participants are not financially motivated. Based on a sample of 6649 households in a CCT program that took place in May 2009-June 2011 in Afghanistan, we evaluate the impact of the receipt of CCTs on the utilization of non-targeted health services both by women, who were direct beneficiaries of the program, and by members of their households. We estimate the outcomes of interest through four probit models, accounting for potential endogeneity of the CCT receipt and dealing with lack of credible exclusion restrictions in different ways. In comparison with the control group, the receipt of CCTs is found to be associated with an increase in the probability of utilizing non-targeted services among household members across regression models. The results are mixed, with regard to the utilization by women, suggesting that there exist non-economic barriers to health care, unique to women, that are not captured by the data. The results confirm the importance of accounting for direct as well as indirect effects in policy evaluation and suggest that future studies investigate more deeply the role of community health workers in removing non-economic barriers for Afghan women and the possibility of introducing an incentive structure to motivate them to contribute more actively to population health in Afghanistan. Copyright © 2016 Elsevier Ltd. All rights reserved.

  8. Cash efficiency for bank branches.

    Science.gov (United States)

    Cabello, Julia García

    2013-01-01

    Bank liquidity management has become a major issue during the financial crisis as liquidity shortages have intensified and have put pressure on banks to diversity and improve their liquidity sources. While a significant strand of the literature concentrates on wholesale liquidity generation and on the alternative to deposit funding, the management of an inventory of cash holdings within the banks' branches is also a relevant issue as any significant improvement in cash management at the bank distribution channels may have a positive effect in reducing liquidity tensions. In this paper, we propose a simple programme of cash efficiency for the banks' branches, very easy to implement, which conform to a set of instructions to be imposed from the bank to their branches. This model proves to significantly reduce cash holdings at branches thereby providing efficiency improvements in liquidity management. The methodology we propose is based on the definition of some stochastic processes combined with renewal processes, which capture the random elements of the cash flow, before applying suitable optimization programmes to all the costs involved in cash movements. The classical issue of the Transaction Demand for the Cash and some aspects of Inventory Theory are also present. Mathematics Subject Classification (2000) C02, C60, E50.

  9. Unconditional cash transfers for reducing poverty and vulnerabilities: effect on use of health services and health outcomes in low- and middle-income countries.

    Science.gov (United States)

    Pega, Frank; Liu, Sze Yan; Walter, Stefan; Pabayo, Roman; Saith, Ruhi; Lhachimi, Stefan K

    2017-11-15

    Unconditional cash transfers (UCTs; provided without obligation) for reducing poverty and vulnerabilities (e.g. orphanhood, old age or HIV infection) are a type of social protection intervention that addresses a key social determinant of health (income) in low- and middle-income countries (LMICs). The relative effectiveness of UCTs compared with conditional cash transfers (CCTs; provided so long as the recipient engages in prescribed behaviours such as using a health service or attending school) is unknown. To assess the effects of UCTs for improving health services use and health outcomes in vulnerable children and adults in LMICs. Secondary objectives are to assess the effects of UCTs on social determinants of health and healthcare expenditure and to compare to effects of UCTs versus CCTs. We searched 17 electronic academic databases, including the Cochrane Public Health Group Specialised Register, the Cochrane Database of Systematic Reviews (the Cochrane Library 2017, Issue 5), MEDLINE and Embase, in May 2017. We also searched six electronic grey literature databases and websites of key organisations, handsearched key journals and included records, and sought expert advice. We included both parallel group and cluster-randomised controlled trials (RCTs), quasi-RCTs, cohort and controlled before-and-after (CBAs) studies, and interrupted time series studies of UCT interventions in children (0 to 17 years) and adults (18 years or older) in LMICs. Comparison groups received either no UCT or a smaller UCT. Our primary outcomes were any health services use or health outcome. Two reviewers independently screened potentially relevant records for inclusion criteria, extracted data and assessed the risk of bias. We tried to obtain missing data from study authors if feasible. For cluster-RCTs, we generally calculated risk ratios for dichotomous outcomes from crude frequency measures in approximately correct analyses. Meta-analyses applied the inverse variance or Mantel

  10. Unconditional cash transfers for assistance in humanitarian disasters: effect on use of health services and health outcomes in low- and middle-income countries.

    Science.gov (United States)

    Pega, Frank; Liu, Sze Yan; Walter, Stefan; Lhachimi, Stefan K

    2015-09-11

    Unconditional cash transfers (UCTs) are a common social protection intervention that increases income, a key social determinant of health, in disaster contexts in low- and middle-income countries (LMICs). To assess the effects of UCTs in improving health services use, health outcomes, social determinants of health, health care expenditure, and local markets and infrastructure in LMICs. We also compared the relative effectiveness of UCTs delivered in-hand with in-kind transfers, conditional cash transfers, and UCTs paid through other mechanisms. We searched 17 academic databases, including the Cochrane Public Health Group Specialised Register, the Cochrane Database of Systematic Reviews (The Cochrane Library 2014, Issue 7), MEDLINE, and EMBASE between May and July 2014 for any records published up until 4 May 2014. We also searched grey literature databases, organisational websites, reference lists of included records, and academic journals, as well as seeking expert advice. We included randomised and quasi-randomised controlled trials (RCTs), as well as cohort, interrupted time series, and controlled before-and-after studies (CBAs) on UCTs in LMICs. Primary outcomes were the use of health services and health outcomes. Two authors independently screened all potentially relevant records for inclusion criteria, extracted the data, and assessed the included studies' risk of bias. We requested missing information from the study authors. Three studies (one cluster-RCT and two CBAs) comprising a total of 13,885 participants (9640 children and 4245 adults) as well as 1200 households in two LMICs (Nicaragua and Niger) met the inclusion criteria. They examined five UCTs between USD 145 and USD 250 (or more, depending on household characteristics) that were provided by governmental, non-governmental or research organisations during experiments or pilot programmes in response to droughts. Two studies examined the effectiveness of UCTs, and one study examined the relative

  11. Could cash and good parenting affect child cognitive development? A cross-sectional study in South Africa and Malawi.

    Science.gov (United States)

    Sherr, Lorraine; Macedo, Ana; Tomlinson, Mark; Skeen, Sarah; Cluver, Lucie Dale

    2017-05-12

    Social protection interventions, including cash grants and care provision have been shown to effectively reduce some negative impacts of the HIV epidemic on adolescents and families. Less is known about the role of social protection on younger HIV affected populations. This study explored the impact of cash grants on children's cognitive development. Additionally, we examined whether combined cash and care (operationalised as good parenting) was associated with improved cognitive outcomes. The sample included 854 children, aged 5 - 15, participating in community-based organisation (CBO) programmes for children affected by HIV in South Africa and Malawi. Data on child cognitive functioning were gathered by a combination of caregiver report and observer administered tests. Primary caregivers also reported on the economic situation of the family, cash receipt into the home, child and household HIV status. Parenting was measured on a 10 item scale with good parenting defined as a score of 8 or above. About half of families received cash (55%, n = 473), only 6% (n = 51) reported good parenting above the cut-off point but no cash, 18% (n = 151) received combined cash support and reported good parenting, and 21% (n = 179) had neither. Findings show that cash receipt was associated with enhanced child cognitive outcomes in a number of domains including verbal working memory, general cognitive functioning, and learning. Furthermore, cash plus good parenting provided an additive effect. Child HIV status had a moderating effect on the association between cash or/plus good parenting and cognitive outcomes. The association between cash and good parenting and child cognitive outcomes remained significant among both HIV positive and negative children, but overall the HIV negative group benefited more. This study shows the importance of cash transfers and good parenting on cognitive development of young children living in HIV affected environments. Our data clearly

  12. Wealth differentials in the impact of conditional and unconditional cash transfers on education: findings from a community-randomised controlled trial in Zimbabwe.

    Science.gov (United States)

    Fenton, Rory; Nyamukapa, Constance; Gregson, Simon; Robertson, Laura; Mushati, Phyllis; Thomas, Ranjeeta; Eaton, Jeffrey W

    2016-12-01

    We investigated (1) how household wealth affected the relationship between conditional cash transfers (CCT) and unconditional cash transfers (UCT) and school attendance, (2) whether CCT and UCT affected educational outcomes (repeating a year of school), (3) if baseline school attendance and transfer conditions affected how much of the transfers participants spent on education and (4) if CCT or UCT reduced child labour in recipient households. Data were analysed from a cluster-randomized controlled trial of CCT and UCT in 4043 households from 2009 to 2010. Recipient households received $18 dollars per month plus $4 per child. CCT were conditioned on above 80% school attendance, a full vaccination record and a birth certificate. In the poorest quintile, the odds ratio of above 80% school attendance at follow-up for those with below 80% school attendance at baseline was 1.06 (p = .67) for UCT vs. CCT. UCT recipients reported spending slightly more (46.1% (45.4-46.7)) of the transfer on school expenses than did CCT recipients (44.8% (44.1-45.5)). Amongst those with baseline school attendance of below 80%, there was no statistically significant difference between CCT and UCT participants in the proportion of the transfer spent on school expenses (p = .63). Amongst those with above 80% baseline school attendance, CCT participants spent 3.5% less (p = .001) on school expenses than UCT participants. UCT participants were no less likely than those in the control group to repeat a grade of school. CCT participants had .69 (.60-.79) lower odds vs. control of repeating the previous school grade. Children in CCT recipient households spent an average of .31 fewer hours in paid work than those in the control group (p control arm (p = .06).

  13. Yo Puedo--a conditional cash transfer and life skills intervention to promote adolescent sexual health: results of a randomized feasibility study in san francisco.

    Science.gov (United States)

    Minnis, Alexandra M; vanDommelen-Gonzalez, Evan; Luecke, Ellen; Dow, William; Bautista-Arredondo, Sergio; Padian, Nancy S

    2014-07-01

    We designed and evaluated for feasibility an intervention-Yo Puedo-that addresses social network influences and socioeconomic opportunities in a neighborhood with substantial gang exposure and early childbearing. Yo Puedo combined conditional cash transfers for completion of educational and reproductive health wellness goals with life skills sessions, and targeted youth 16-21 years of age and same-aged members of their social network. We conducted a two-arm study with social networks randomized to the intervention or a standard services control arm. We evaluated intervention uptake, adherence, and safety; and assessed evidence of effects on behavioral outcomes associated with unintended pregnancy and sexually transmitted infection risk. A total of 72 social networks composed of 162 youth enrolled, with 92% retention over 6 months. Seventy-two percent of youth randomized to the intervention participated in intervention activities: 53% received at least one conditional cash transfer payment and 66% came to at least one life skills session. We found no evidence that cash payments financed illicit or high-risk behavior. At 6 months, compared with controls, intervention participants had a lower odds of hanging out on the street frequently (odds ratio [OR], .54; p = .10) and a lower odds of reporting that their close friends had been incarcerated (OR, .6; p = .12). They reported less regular alcohol use (OR, .54; p = .04) and a lower odds of having sex (OR, .50; p = .04). The feasibility evaluation of Yo Puedo demonstrated its promise; a larger evaluation of effects on pregnancy and sustained behavioral changes is warranted. Copyright © 2014 Society for Adolescent Health and Medicine. Published by Elsevier Inc. All rights reserved.

  14. Effect of Ecuador's cash transfer program (Bono de Desarrollo Humano) on child development in infants and toddlers: a randomized effectiveness trial.

    Science.gov (United States)

    Fernald, Lia C H; Hidrobo, Melissa

    2011-05-01

    We examined the effects of Ecuador's Bono de Desarrollo Humano (BDH)--an unconditional cash transfer program that was rolled-out using a randomized design--on health and development outcomes in very young children. Communities that were randomly assigned to the treatment group began receiving the BDH in 2004 and those randomly assigned to the comparison group began receiving benefits two years later. Families enrolled in the BDH received a monthly cash stipend ($15USD) representing an approximate 6-10% increase in household income. Participants analyzed in this study are children aged 12-35 months from treatment (n = 797) and comparison (n = 399) communities in rural and urban Ecuador. Main outcomes measured were language skills (the Fundación MacArthur Inventorio del Desarollo de Habilidades Comunicativas-Breve), height-for-age z-score, and hemoglobin concentration. Results indicate that in rural areas, being randomized to receive the BDH in very early childhood led to significantly better performance on the number of words a child was saying, and on the probability that the child was combining two or more words. There were no significant effects on language development for children in urban areas and there were no effects on height-for-age z-score or hemoglobin concentration in rural or urban areas. A limited number of potential pathways with respect to cognitive/language stimulation, health behaviors, and parenting quality were also explored. Findings indicate that compared to children in comparison areas, rural children in treatment areas were more likely to have received vitamin A or iron supplementation and have been bought a toy in the past six months. This study provides evidence for significant benefits of an unconditional cash transfer program for language development in very young children in rural areas. Copyright © 2011 Elsevier Ltd. All rights reserved.

  15. Sexual Behavior Among Young Carers in the Context of a Kenyan Empowerment Program Combining Cash-Transfer, Psychosocial Support, and Entrepreneurship.

    Science.gov (United States)

    Goodman, Michael L; Selwyn, Beatrice J; Morgan, Robert O; Lloyd, Linda E; Mwongera, Moses; Gitari, Stanley; Keiser, Philip H

    2016-01-01

    This study examined associations between sexual initiation, unprotected sex, and having multiple sex partners in the past year with participation in a three-year empowerment program targeting orphan and vulnerable children (OVC). The Kenya-based program combines community-conditioned cash transfer, psychosocial empowerment, health education, and microenterprise development. Program participants (n = 1,060) were interviewed in a cross-sectional design. Analyses used gender-stratified hierarchical logit models to assess program participation and other potential predictors. Significant predictors of increased female sexual activity included less program exposure, higher age, younger age at most recent parental death, fewer years of schooling, higher food consumption, higher psychological resilience, and lower general self-efficacy. Significant predictors of increased male sexual activity included more program exposure, higher age, better food consumption, not having a living father, and literacy. Findings support a nuanced view of current cash transfer programs, where female sexual activity may be reduced through improved financial status but male sexual activity may increase. Targeting of OVC sexual risk behaviors would likely benefit from being tailored according to associations found in this study. Data suggest involving fathers in sexual education, targeting women who lost a parent at a younger age, and providing social support for female OVC may decrease risk of human immunodeficiency virus (HIV) transmission.

  16. Beneficiaries’ perceptions and reported use of unconditional cash transfers intended to prevent acute malnutrition in children in poor rural communities in Burkina Faso: qualitative results from the MAM’Out randomized controlled trial

    Directory of Open Access Journals (Sweden)

    Audrey Tonguet-Papucci

    2017-05-01

    Full Text Available Abstract Background Acute malnutrition is a public health issue worldwide, and particularly in the Eastern region of Burkina Faso. Following a needs assessment, unconditional seasonal, multiannual cash transfers were implemented as a safety net to prevent childhood undernutrition. The objectives of this study were to explore the types of purchases made by beneficiaries of this cash transfer program and to understand the perceived effects of and changes induced by regular cash transfers in the daily lives of women, and at the household and community level. Methods The design of this study was a two-arm cluster randomized controlled trial. Qualitative data were collected each month during the cash transfer period for two years, leading to a total of more than 300 interviews and focus group discussions with various participants: beneficiary mothers, heads of households, mothers-in-law, co-wives, key members of the community, and participants of the control group. Results The two main types of expenses reported were food and health care for the child and the whole family. The program was also associated with positive perceived changes at the household level, mainly related to gender equality and improvement of women’s status, and has promoted an increase in dignity and social integration of the poorest at the community level through cash sharing. Unexpected effects of this program included some women planning new pregnancies and some individuals not expecting the transfers to end. Conclusion Although the transfers were unconditional, the cash was mainly used to improve the children’s and households’ food security and health, which correspond to two main underlying causes of undernutrition. Therefore, spending mainly in these areas can help to prevent undernutrition in children. Trial registration ClinicalTrials.gov , identifier: NCT01866124 , registered May 7, 2013.

  17. Transferência condicionada de renda e segurança alimentar e nutricional Conditional cash transfer programs and food and nutrition security

    Directory of Open Access Journals (Sweden)

    Luciene Burlandy

    2007-12-01

    Full Text Available Este artigo analisa as interações entre programas de transferência condicionada de renda (TCR e a segurança alimentar e nutricional (SAN, a partir de uma revisão da literatura. Considera que a TCR impacta os gastos com alimentação, especialmente quando há dinamismo de mercado e os investimentos com outros bens que afetam o bem- estar nutricional das famílias, incluindo a demanda por educação e cuidados com a saúde. No entanto, o impacto no estado nutricional, especialmente no crescimento infantil, não é inequívoco, pois depende de outras ações que afetam este processo, tais como a disponibilidade de serviços de saúde; educação; saneamento; os custos das famílias para acessá-los; o tempo de implementação dos programas; o valor transferido; o tamanho das famílias, além das regras intrafamiliares de alocação de recursos. De igual modo, cabe analisar o processo de implementação dos programas uma vez que podem afetar (positiva ou negativamente os valores, relações e práticas sociais que contribuem para a conformação da pobreza e da SAN. A integração da TCR com outros programas é essencial para garantir seu impacto na SAN e o atual Conselho Nacional de Segurança Alimentar e Nutricional constitui espaço estratégico para o planejamento integrado de políticas neste campo.This paper analyses the relationship between Conditional Cash Transfer (CCT programs and Food and Nutrition Security (FNS, based on a review of the literature. CCT programs spur outlays on food, particularly in dynamic markets, as well as investments in other goods affecting the nutritional wellbeing of families, including demands for healthcare and education. However, the impact on children's nutritional status and early childhood growth is not clear, as other factors also affect this process, such as: the availability of public services (healthcare; education; sanitation and the costs of accessing them; duration of the programs; transfer

  18. Rating Your Cash Manager?

    Science.gov (United States)

    Nielsen, George A.; Johannisson, Eric E.

    1989-01-01

    The primary objective of a public cash management policy should include safety, liquidity, yield, and legality. Contains a cash management policy/procedure checklist, a test for cash managers, and a formula for calculating the rate of return. (MLF)

  19. Payment Schemes in Conditional Cash Transfer Programs: The Case of 4Ps in the Davao Region, Philippines

    Directory of Open Access Journals (Sweden)

    Ma Cecilia Catubig

    2015-11-01

    Full Text Available This paper evaluates current payment schemes employed by the Pantawid Pamilyang Pilipino Program (4Ps in the Philippines using six assessment criteria: transaction cost, security/risks, speed and timeliness, acceptability, resilience and flexibility. Employing data collected at the regional level, we establish four main findings: (1 all 4Ps payment conduits present trade-offs; (2 a payment approach that uses mainstream financial infrastructure is beneficial if cost, speed and simplicity of the payment system are critical; (3 competition for 4Ps contracts for Payment Service Providers (PSPs has improved the quality of payment services and minimized costs; and (4 the efficiency of the program is greatly influenced by the commitment of the PSP to deliver the cash benefits to the recipients in a timely manner rather than by maximizing conduit branches.

  20. "No one says 'No' to money" - a mixed methods approach for evaluating conditional cash transfer schemes to improve girl children's status in Haryana, India.

    Science.gov (United States)

    Krishnan, Anand; Amarchand, Ritvik; Byass, Peter; Pandav, Chandrakant; Ng, Nawi

    2014-01-31

    Haryana was the first state in India to launch a conditional cash transfer (CCT) scheme in 1994. Initially it targeted all disadvantaged girls but was revised in 2005 to restrict it to second girl children of all groups. The benefit which accrued at girl attaining 18 years and subject to conditionalities of being fully immunized, studying till class 10 and remaining unmarried, was increased from about US$ 500 to US$ 2000. Using a mixed methods approach, we evaluated the implementation and possible impact of these two schemes. A survey was conducted among 200 randomly selected respondents of Ballabgarh Block in Haryana to assess their perceptions of girl children and related schemes. A cohort of births during this period was assembled from population database of 28 villages in this block and changes in sex ratio at birth and in immunization coverage at one year of age among boys and girls was measured. Education levels and mean age at marriage of daughters were compared with daughters-in-law from outside Haryana. In-depth interviews were conducted among district level implementers of these schemes to assess their perceptions of programs' implementation and impact. These were analyzed using a thematic approach. The perceptions of girls as a liability and poor (9% to 15%) awareness of the schemes was noted. The cohort analysis showed that while there has been an improvement in the indicators studied, these were similar to those seen among the control groups. Qualitative analysis identified a "conspiracy of silence" - an underplaying of the pervasiveness of the problem coupled with a passive implementation of the program and a clash between political culture of giving subsidies and a bureaucratic approach that imposed many conditionalities and documentary needs for availing of benefits. The apparent lack of impact on the societal mindset calls for a revision in the current approach of addressing a social issue by a purely conditional cash transfer program.

  1. Costs and cost-efficiency of a mobile cash transfer to prevent child undernutrition during the lean season in Burkina Faso: a mixed methods analysis from the MAM'Out randomized controlled trial.

    Science.gov (United States)

    Puett, Chloe; Salpéteur, Cécile; Houngbe, Freddy; Martínez, Karen; N'Diaye, Dieynaba S; Tonguet-Papucci, Audrey

    2018-01-01

    This study assessed the costs and cost-efficiency of a mobile cash transfer implemented in Tapoa Province, Burkina Faso in the MAM'Out randomized controlled trial from June 2013 to December 2014, using mixed methods and taking a societal perspective by including costs to implementing partners and beneficiary households. Data were collected via interviews with implementing staff from the humanitarian agency and the private partner delivering the mobile money, focus group discussions with beneficiaries, and review of accounting databases. Costs were analyzed by input category and activity-based cost centers. cost-efficiency was analyzed by cost-transfer ratios (CTR) and cost per beneficiary. Qualitative analysis was conducted to identify themes related to implementing electronic cash transfers, and barriers to efficient implementation. The CTR was 0.82 from a societal perspective, within the same range as other humanitarian transfer programs; however the intervention did not achieve the same degree of cost-efficiency as other mobile transfer programs specifically. Challenges in coordination between humanitarian and private partners resulted in long wait times for beneficiaries, particularly in the first year of implementation. Sensitivity analyses indicated a potential 6% reduction in CTR through reducing beneficiary wait time by one-half. Actors reported that coordination challenges improved during the project, therefore inefficiencies likely would be resolved, and cost-efficiency improved, as the program passed the pilot phase. Despite the time required to establish trusting relationships among actors, and to set up a network of cash points in remote areas, this analysis showed that mobile transfers hold promise as a cost-efficient method of delivering cash in this setting. Implementation by local government would likely reduce costs greatly compared to those found in this study context, and improve cost-efficiency especially by subsidizing expansion of mobile

  2. Çokuluslu İşletmelerde Merkezi Nakit Yönetimi ve Havuzlama (Central Cash Management of Multinational Businesses and Pooling)

    OpenAIRE

    Ali KABAKÇI

    2011-01-01

    Cash management can be defined as the optimization of cash flows and investment of excess cash in a corporation. But from an international perspective, cash management becomes very complex because of different laws among countries that pertain to cross-border cash transfers. Besides, the value of cross-border cash transfers is affected by the exchange rate fluctuations. This article is concerned with the optimization of cash flows in a multinational corporation and examines centralized cash m...

  3. Transferência de renda e segurança alimentar no Brasil: análise dos dados nacionais Cash transference and food insecurity in Brazil: analysis of national data

    Directory of Open Access Journals (Sweden)

    Ana Maria Segall-Corrêa

    2008-08-01

    transferência de renda sobre a segurança alimentar, independentemente do efeito de outras condições explicativas.OBJECTIVE: The 2004 National Household Survey Data was analyzed to test the hypothesis that cash transference from government social programs is associated with household food security. METHODS: Secondary data were used from the National Household Sample Survey which interviewed residents of 112,716 households. The present analysis included permanent and temporary private households, where food security items were informed by a resident of the household, restricting the collection of data to households with per capita monthly income of up to 1 minimum wage, representing 51.2% of the sample. Three models for estimating the amount of cash transference were developed; model 3 was chosen because it was less likely to overestimate effects. To analyze how cash transference affected the prevalence of food security, only households that received cash transference were included in the analysis, representing 14.2% of the interviewed households. The association between food security and cash transference, controlled for other independent variables, was estimated using a logistic regression model with stepwise method for each of the three income strata. RESULTS: The mean per capita cash transference was of R$81.68 per family. Multiple logistic regression showed an increased chance of food security of 8% per each R$10.00 contributed by social programs. Rural residence, male head of household, and Caucasian head of household were factors that also presented a higher chance of food security. CONCLUSION: The hypothesis was confirmed, showing a positive association between cash transfer and household food security, regardless of the effects of other explanatory factors.

  4. The Synergetic Effect of Cash Transfers for Families, Child Sensitive Social Protection Programs, and Capacity Building for Effective Social Protection on Children’s Nutritional Status in Nepal

    Directory of Open Access Journals (Sweden)

    Andre M. N. Renzaho

    2017-12-01

    Full Text Available Objective: The aim of this study was to evaluate the effectiveness of the synergetic effect of child sensitive social protection programs, augmented by a capacity building for social protection and embedded within existing government’s targeted resource transfers for families on child nutritional status. Design: A repeat cross-sectional quasi-experimental design with measures taken pre- (October–December 2009 and post- (December 2014–February 2015 intervention in the intervention and comparison district. The comparison district received standard social welfare services in the form of targeted resource transfers (TRTs for eligible families. The intervention district received the TRTs plus a child cash payment, augmented by a capacity building for effective social protection outcomes. Propensity scores were used in difference-in-differences models to compare the changes over time between the intervention and control groups. Results: Propensity score matched/weighted models produced better results than the unmatched analyses, and hence we report findings from the radius matching. The intervention resulted in a 5.16 (95% CI: 9.55, 0.77, 7.35 (95% CI: 11.62, 3.08 and 2.84 (95% CI: 5.58, 0.10 percentage point reduction in the prevalence of stunting, underweight, and wasting among children under the age, respectively. The intervention impact was greater in boys than girls for stunting and wasting; and greater in girls than boys for underweight. The intervention also resulted in a 6.66 (95% CI: 2.13, 3.18, 11.40 (95% CI: 16.66, 6.13, and 4.0 (95% CI: 6.43, 1.78 percentage point reduction in the prevalence of stunting, underweight, and wasting among older children (≥24 months. No impact was observed among younger children (<24 months. Conclusions: Targeted resource transfers for families, augmented with a child sensitive social protection program and capacity building for social protection can address effectively child malnutrition. To increase

  5. Multinational cash management and conglomerate discounts in the euro zone

    NARCIS (Netherlands)

    Eije, Henk von; Westerman, Wim

    2001-01-01

    We discuss the impact of liberalisation, deregulation and the introduction of a single currency on cash management within multinationals in the euro zone. The developments in the euro zone reduce financial market imperfections in transferring cash and diminish the need for separate local cash

  6. Unconditional cash transfers and children's educational outcomes: Evidence from the old-age pension programme in South Africa .

    OpenAIRE

    Jessica Standish-White; Arden Finn

    2015-01-01

    We use longitudinal data from three waves of South Africa's National Income Dynamics Study to estimate the effect of pension receipt in the household on children's educational outcomes in South Africa. We find that children who co-reside with a pensioner achieve better educational outcomes than those who do not, while controlling for a wide number of individual and household characteristics. In particular, we find that the sex of the pension recipient matters - the positive impact on a child'...

  7. Randomised controlled trial of a livestock productive asset transfer programme to improve economic and health outcomes and reduce intimate partner violence in a postconflict setting.

    Science.gov (United States)

    Glass, Nancy; Perrin, Nancy A; Kohli, Anjalee; Campbell, Jacquelyn; Remy, Mitima Mpanano

    2017-01-01

    Diverse economic empowerment programmes (eg, microcredit, village-led savings and loan, cash and productive asset transfers) for the poor have demonstrated mixed results as vehicles for improved economic stability, health and women's empowerment. However, limited rigorous evaluations exist on the impact of financial and non-financial outcomes of these programmes, especially in conflict-affected areas. The team evaluated the effectiveness of an innovative livestock productive asset transfer intervention-Pigs for Peace (PFP)-on economic, health and women's empowerment outcomes with participants in households in 10 villages in Eastern Democratic Republic of Congo. Residual change analysis was used to examine the amount of change from baseline to 18 months between the intervention and delayed control groups, controlling for baseline scores. The majority of the 833 household participants were women (84%), 25 years of age or older, married, had on average 3 children and had never attended school. At 18 months postbaseline, the number of participants in the PFP households having outstanding credit/loans was 24.7% lower than households in the control group (p=0.028), and they had an 8.2% greater improvement in subjective health (p=0.026), a 57.1% greater reduction in symptoms of anxiety (p=0.020) and a 5.7% greater improvement in symptoms of post-traumatic stress disorder (p<-0.001). At 18 months postbaseline, partnered women and men reported a reduction in experience and perpetration of all forms of intimate partner violence, although not statistically significant between groups. The findings support scalability of a livestock productive asset transfer programme in rural and conflict-affected settings where residents have extremely limited access to financial institutions or credit programmes, health or social services and where social norms that sustain gender inequality are strong. NCT02008708.

  8. Participation in the Juntos Conditional Cash Transfer Program in Peru Is Associated with Changes in Child Anthropometric Status but Not Language Development or School Achievement1234

    Science.gov (United States)

    Andersen, Christopher T; Reynolds, Sarah A; Behrman, Jere R; Crookston, Benjamin T; Dearden, Kirk A; Escobal, Javier; Mani, Subha; Sánchez, Alan; Stein, Aryeh D; Fernald, Lia CH

    2015-01-01

    Background: It is unclear what effects a conditional cash transfer (CCT) program would have on child anthropometry, language development, or school achievement in the context of the nutrition transition experienced by many low- and middle-income countries. Objective: We estimated the association of participation in Peru’s Juntos CCT with anthropometry, language development, and school achievement among children aged 7–8 y. Methods: We used data from the Young Lives Study of a cohort born between 2001 and 2002. We estimated associations of the Juntos program with height-for-age z score (HAZ), body mass index–for–age z score (BAZ), stunting, and overweight at age 7–8 y separately for children participating in the program for ≥2 y (n = 169) and children participating for overweight (ATT: –22.0 percentage points; 95% CI: –42.5, –2.7 percentage points; P = 0.03). We observed no significant associations of Juntos participation with receptive vocabulary or grade attainment. Conclusions: CCT program participation in Peru was associated with better linear growth among boys and decreased BAZ among girls, highlighting that a large-scale poverty-alleviation intervention may influence anthropometric outcomes in the context of the nutrition transition. PMID:26269237

  9. Participation in the Juntos Conditional Cash Transfer Program in Peru Is Associated with Changes in Child Anthropometric Status but Not Language Development or School Achievement.

    Science.gov (United States)

    Andersen, Christopher T; Reynolds, Sarah A; Behrman, Jere R; Crookston, Benjamin T; Dearden, Kirk A; Escobal, Javier; Mani, Subha; Sánchez, Alan; Stein, Aryeh D; Fernald, Lia C H

    2015-10-01

    It is unclear what effects a conditional cash transfer (CCT) program would have on child anthropometry, language development, or school achievement in the context of the nutrition transition experienced by many low- and middle-income countries. We estimated the association of participation in Peru's Juntos CCT with anthropometry, language development, and school achievement among children aged 7-8 y. We used data from the Young Lives Study of a cohort born between 2001 and 2002. We estimated associations of the Juntos program with height-for-age z score (HAZ), body mass index-for-age z score (BAZ), stunting, and overweight at age 7-8 y separately for children participating in the program for ≥2 y (n = 169) and children participating for overweight (ATT: -22.0 percentage points; 95% CI: -42.5, -2.7 percentage points; P = 0.03). We observed no significant associations of Juntos participation with receptive vocabulary or grade attainment. CCT program participation in Peru was associated with better linear growth among boys and decreased BAZ among girls, highlighting that a large-scale poverty-alleviation intervention may influence anthropometric outcomes in the context of the nutrition transition. © 2015 American Society for Nutrition.

  10. Cash Reconciliation Tool

    Data.gov (United States)

    US Agency for International Development — CART is a cash reconciliation tool that allows users to reconcile Agency cash disbursements with Treasury fund balances; track open unreconciled items; and create an...

  11. The impact of cash transfers on social determinants of health and health inequalities in Sub-Saharan Africa: a systematic review protocol.

    Science.gov (United States)

    Owusu-Addo, Ebenezer; Renzaho, Andre M N; Mahal, Ajay S; Smith, Ben J

    2016-07-13

    There is increasing pressure to address the social determinants of health (SDoH) and health inequities through the implementation of culturally acceptable interventions particularly in Sub-Saharan Africa (SSA) where health outcomes are generally poor. Available evaluation research on cash transfers (CTs) suggests that the programs may influence the wider determinants of health in SSA; yet, there has been no attempt to synthesize the evidence regarding their contribution to tackling the SDoH and health inequalities. To date, nearly all the reviews on CTs' impact on health have predominantly featured evidence from Latin America with limited transferability to the social, cultural, and political environments in SSA. Therefore, the aim of this study is to undertake a systematic review to assess the role of CTs in tackling the wider determinants of health and health inequalities in SSA. A systematic review of published and unpublished literature on CTs' impact on health and health determinants covering the period 2000-2016 will be undertaken. Studies will be considered for inclusion if they present quantitative or qualitative data, including all relevant study designs. The SDoH conceptual framework will be used to guide the data extraction process. EPPI Reviewer software will be used for data management and analysis. Studies included in the review will be analyzed by narrative synthesis and/or meta-analysis as appropriate for the nature of the data retrieved. This review will provide empirical evidence on the impact of CTs on SDoH to inform CT policy, implementation, and research in SSA. The protocol follows the Preferred Reporting Items for Systematic Review and Meta-Analysis Protocols (PRISMA-P). This protocol has been registered with the PROSPERO international prospective register of systematic reviews, reference CRD42015025015 .

  12. The REFANI-S study protocol: a non-randomised cluster controlled trial to assess the role of an unconditional cash transfer, a non-food item kit, and free piped water in reducing the risk of acute malnutrition among children aged 6-59 months living in camps for internally displaced persons in the Afgooye corridor, Somalia.

    Science.gov (United States)

    Jelle, Mohamed; Grijalva-Eternod, Carlos S; Haghparast-Bidgoli, Hassan; King, Sarah; Cox, Cassy L; Skordis-Worrall, Jolene; Morrison, Joanna; Colbourn, Timothy; Fottrell, Edward; Seal, Andrew J

    2017-07-06

    The prevalence of acute malnutrition is often high in emergency-affected populations and is associated with elevated mortality risk and long-term health consequences. Increasingly, cash transfer programmes (CTP) are used instead of direct food aid as a nutritional intervention, but there is sparse evidence on their nutritional impact. We aim to understand whether CTP reduces acute malnutrition and its known risk factors. A non-randomised, cluster-controlled trial will assess the impact of an unconditional cash transfer of US$84 per month for 5 months, a single non-food items kit, and free piped water on the risk of acute malnutrition in children, aged 6-59 months. The study will take place in camps for internally displaced persons (IDP) in peri-urban Mogadishu, Somalia. A cluster will consist of one IDP camp and 10 camps will be allocated to receive the intervention based on vulnerability targeting criteria. The control camps will then be selected from the same geographical area. Needs assessment data indicates small differences in vulnerability between camps. In each trial arm, 120 households will be randomly sampled and two detailed household surveys will be implemented at baseline and 3 months after the initiation of the cash transfer. The survey questionnaire will cover risk factors for malnutrition including household expenditure, assets, food security, diet diversity, coping strategies, morbidity, WASH, and access to health care. A community surveillance system will collect monthly mid-upper arm circumference measurements from all children aged 6-59 months in the study clusters to assess the incidence of acute malnutrition over the duration of the intervention. Process evaluation data will be compiled from routine quantitative programme data and primary qualitative data collected using key informant interviews and focus group discussions. The UK Department for International Development will provide funding for this study. The European Civil Protection and

  13. The REFANI-S study protocol: a non-randomised cluster controlled trial to assess the role of an unconditional cash transfer, a non-food item kit, and free piped water in reducing the risk of acute malnutrition among children aged 6–59 months living in camps for internally displaced persons in the Afgooye corridor, Somalia

    Directory of Open Access Journals (Sweden)

    Mohamed Jelle

    2017-07-01

    Full Text Available Abstract Background The prevalence of acute malnutrition is often high in emergency-affected populations and is associated with elevated mortality risk and long-term health consequences. Increasingly, cash transfer programmes (CTP are used instead of direct food aid as a nutritional intervention, but there is sparse evidence on their nutritional impact. We aim to understand whether CTP reduces acute malnutrition and its known risk factors. Methods/design A non-randomised, cluster-controlled trial will assess the impact of an unconditional cash transfer of US$84 per month for 5 months, a single non-food items kit, and free piped water on the risk of acute malnutrition in children, aged 6–59 months. The study will take place in camps for internally displaced persons (IDP in peri-urban Mogadishu, Somalia. A cluster will consist of one IDP camp and 10 camps will be allocated to receive the intervention based on vulnerability targeting criteria. The control camps will then be selected from the same geographical area. Needs assessment data indicates small differences in vulnerability between camps. In each trial arm, 120 households will be randomly sampled and two detailed household surveys will be implemented at baseline and 3 months after the initiation of the cash transfer. The survey questionnaire will cover risk factors for malnutrition including household expenditure, assets, food security, diet diversity, coping strategies, morbidity, WASH, and access to health care. A community surveillance system will collect monthly mid-upper arm circumference measurements from all children aged 6–59 months in the study clusters to assess the incidence of acute malnutrition over the duration of the intervention. Process evaluation data will be compiled from routine quantitative programme data and primary qualitative data collected using key informant interviews and focus group discussions. The UK Department for International Development will provide

  14. Impact on birth weight and child growth of Participatory Learning and Action women’s groups with and without transfers of food or cash during pregnancy: Findings of the low birth weight South Asia cluster-randomised controlled trial (LBWSAT) in Nepal

    Science.gov (United States)

    Shrestha, Bhim P.; Style, Sarah; Harris-Fry, Helen; Beard, B. James; Sen, Aman; Jha, Sonali; Rai, Anjana; Sah, Raghbendra; Paudel, Puskar; Copas, Andrew; Bhandari, Bishnu; Neupane, Rishi; Morrison, Joanna; Gram, Lu; Pulkki-Brännström, Anni-Maria; Skordis-Worrall, Jolene; Basnet, Machhindra; de Pee, Saskia; Hall, Andrew; Harthan, Jayne; Thondoo, Meelan; Klingberg, Sonja; Messick, Janice; Manandhar, Dharma S.; Osrin, David; Costello, Anthony

    2018-01-01

    Background Undernutrition during pregnancy leads to low birthweight, poor growth and inter-generational undernutrition. We did a non-blinded cluster-randomised controlled trial in the plains districts of Dhanusha and Mahottari, Nepal to assess the impact on birthweight and weight-for-age z-scores among children aged 0–16 months of community-based participatory learning and action (PLA) women’s groups, with and without food or cash transfers to pregnant women. Methods We randomly allocated 20 clusters per arm to four arms (average population/cluster = 6150). All consenting married women aged 10–49 years, who had not had tubal ligation and whose husbands had not had vasectomy, were monitored for missed menses. Between 29 Dec 2013 and 28 Feb 2015 we recruited 25,092 pregnant women to surveillance and interventions: PLA alone (n = 5626); PLA plus food (10 kg/month of fortified wheat-soya ‘Super Cereal’, n = 6884); PLA plus cash (NPR750≈US$7.5/month, n = 7272); control (existing government programmes, n = 5310). 539 PLA groups discussed and implemented strategies to improve low birthweight, nutrition in pregnancy and hand washing. Primary outcomes were birthweight within 72 hours of delivery and weight-for-age z-scores at endline (age 0–16 months). Only children born to permanent residents between 4 June 2014 and 20 June 2015 were eligible for intention to treat analyses (n = 10936), while in-migrating women and children born before interventions had been running for 16 weeks were excluded. Trial status: completed. Results In PLA plus food/cash arms, 94–97% of pregnant women attended groups and received a mean of four transfers over their pregnancies. In the PLA only arm, 49% of pregnant women attended groups. Due to unrest, the response rate for birthweight was low at 22% (n = 2087), but response rate for endline nutritional and dietary measures exceeded 83% (n = 9242). Compared to the control arm (n = 464), mean birthweight was significantly higher in

  15. The impact of cash transfers on social determinants of health and health inequalities in sub-Saharan Africa: a systematic review.

    Science.gov (United States)

    Owusu-Addo, Ebenezer; Renzaho, Andre M N; Smith, Ben J

    2018-06-01

    Cash transfers (CTs) are now high on the agenda of most governments in low- and middle-income countries. Within the field of health promotion, CTs constitute a healthy public policy initiative as they have the potential to address the social determinants of health (SDoH) and health inequalities. A systematic review was conducted to synthesise the evidence on CTs' impacts on SDoH and health inequalities in sub-Saharan Africa, and to identify the barriers and facilitators of effective CTs. Twenty-one electronic databases and the websites of 14 key organizations were searched in addition to grey literature and hand searching of selected journals for quantitative and qualitative studies on CTs' impacts on SDoH and health outcomes. Out of 182 full texts screened for eligibility, 79 reports that reported findings from 53 studies were included in the final review. The studies were undertaken within 24 CTs comprising 11 unconditional CTs (UCTs), 8 conditional CTs (CCTs) and 5 combined UCTs and CCTs. The review found that CTs can be effective in tackling structural determinants of health such as financial poverty, education, household resilience, child labour, social capital and social cohesion, civic participation, and birth registration. The review further found that CTs modify intermediate determinants such as nutrition, dietary diversity, child deprivation, sexual risk behaviours, teen pregnancy and early marriage. In conjunction with their influence on SDoH, there is moderate evidence from the review that CTs impact on health and quality of life outcomes. The review also found many factors relating to intervention design features, macro-economic stability, household dynamics and community acceptance of programs that could influence the effectiveness of CTs. The external validity of the review findings is strong as the findings are largely consistent with those from Latin America. The findings thus provide useful insights to policy makers and managers and can be used to

  16. Unconditional government cash transfers in support of orphaned and vulnerable adolescents in western Kenya: Is there an association with psychological wellbeing?

    Directory of Open Access Journals (Sweden)

    Sylvia Shangani

    Full Text Available Orphaned and vulnerable adolescents (OVA in sub-Saharan Africa are at greater risk for adverse psychological outcomes compared with their non-OVA counterparts. Social interventions that provide cash transfers (CTs have been shown to improve health outcomes among young people, but little is known about their impact on the psychological wellbeing of OVA.Among OVA in western Kenya, we assessed the association between living in a household that received monthly unconditional government CTs and psychological wellbeing.We examined the likelihood of depression, anxiety, post-traumatic stress symptoms (PTSS and positive future outlook among 655 OVA aged between 10 and 18 years who lived in 300 randomly selected households in western Kenya that either received or did not receive unconditional monthly CTs.The mean age was 14.0 (SD 2.4 years and 329 (50.2% of the participants were female while 190 (29.0% were double orphans whose biological parents were both deceased. After adjusting for socio-demographic, caregiver, and household characteristics and accounting for potential effects of participant clustering by sub-location of residence, OVA living in CT households were more likely to have a positive future outlook (odds ratio [OR] 1.47, 95% confidence interval [CI] 1.08, 1.99, less likely to be anxious (OR 0.57, 95% CI 0.42, 0.78, and less likely to have symptoms of post-traumatic stress (OR 0.50, 95% CI 0.29, 0.89. We did not find statistically significant differences in odds of depression by CT group.OVA in CT households reported better psychological wellbeing compared to those in households not receiving CTs. CT interventions may be effective for improving psychological wellbeing among vulnerable adolescents in socioeconomically deprived households.

  17. The impact of cash transfers on social determinants of health and health inequalities in sub-Saharan Africa: a systematic review

    Science.gov (United States)

    Renzaho, Andre M N; Smith, Ben J

    2018-01-01

    Abstract Cash transfers (CTs) are now high on the agenda of most governments in low- and middle-income countries. Within the field of health promotion, CTs constitute a healthy public policy initiative as they have the potential to address the social determinants of health (SDoH) and health inequalities. A systematic review was conducted to synthesise the evidence on CTs’ impacts on SDoH and health inequalities in sub-Saharan Africa, and to identify the barriers and facilitators of effective CTs. Twenty-one electronic databases and the websites of 14 key organizations were searched in addition to grey literature and hand searching of selected journals for quantitative and qualitative studies on CTs’ impacts on SDoH and health outcomes. Out of 182 full texts screened for eligibility, 79 reports that reported findings from 53 studies were included in the final review. The studies were undertaken within 24 CTs comprising 11 unconditional CTs (UCTs), 8 conditional CTs (CCTs) and 5 combined UCTs and CCTs. The review found that CTs can be effective in tackling structural determinants of health such as financial poverty, education, household resilience, child labour, social capital and social cohesion, civic participation, and birth registration. The review further found that CTs modify intermediate determinants such as nutrition, dietary diversity, child deprivation, sexual risk behaviours, teen pregnancy and early marriage. In conjunction with their influence on SDoH, there is moderate evidence from the review that CTs impact on health and quality of life outcomes. The review also found many factors relating to intervention design features, macro-economic stability, household dynamics and community acceptance of programs that could influence the effectiveness of CTs. The external validity of the review findings is strong as the findings are largely consistent with those from Latin America. The findings thus provide useful insights to policy makers and managers and

  18. Barriers and prospects of India's conditional cash transfer program to promote institutional delivery care: a qualitative analysis of the supply-side perspectives.

    Science.gov (United States)

    Gupta, Adyya; Fledderjohann, Jasmine; Reddy, Hanimi; Raman, V R; Stuckler, David; Vellakkal, Sukumar

    2018-01-25

    Under the National Health Mission (NHM) of India, Janani Suraksha Yojana (JSY) offers conditional cash transfer and support services to pregnant women to use institutional delivery care facilities. This study aims to understand community health workers' (ASHAs) and program officials' perceptions regarding barriers to and prospects for the uptake of facilities offered under the JSY. Fifty in-depth interviews of a purposively selected sample of ASHAs (n = 12), members of Village Health and Sanitation Committees (n = 11), and officials at different tiers of healthcare facilities (n = 27) were conducted in three Indian states. The data were analyzed thematically using ATLAS.ti software. Although the JSY has triggered considerable advancement on the Indian maternal and child health front, there are several barriers to be resolved pertaining to i) delivering quality care at health-facility; ii) linkages between home and health-facility; and iii) the community/household context. At the facility level, respondents cited an inability to treat birth complications as a barrier to JSY uptake, resulting in referrals to other (mostly private) facilities. Despite increased investment in health infrastructure under the program, shortages in emergency obstetric-care facilities, specialists and staff, essential drugs, diagnostics, and necessary equipment persisted. Weaker linkages between various vertical (standalone) elements of maternal and primary healthcare programs, and nearly uniform resource allocation to all facilities irrespective of caseloads and actual need also constrained the provision of quality healthcare. Barriers affecting the linkages between home and facility arose mainly due to the mismatch between the multiple demands and the availability of transport facilities, especially in emergency situations. Regarding community/household context, several socio-cultural issues such as resistance towards the ASHA's efforts of counselling, particularly from

  19. THE CARD - CURRENCY WITH AND WITHOUT CASH

    Directory of Open Access Journals (Sweden)

    Nicoara Mihaela

    2012-12-01

    Full Text Available Use by individuals and businesses resulting in reduced cash cards in circulation, the corresponding increase in transfer payments and payments accounts also limit exchange risks and make effective use of currency. As a result, we have the effect of reducing cash in circulation. These advantages are also available for businesses and for banks and leads to favorable effects on import-export business. Following this, banks can diversify our products, so to meet customers' new products.

  20. Çokuluslu İşletmelerde Merkezi Nakit Yönetimi ve Havuzlama (Central Cash Management of Multinational Businesses and Pooling

    Directory of Open Access Journals (Sweden)

    Ali KABAKÇI

    2011-01-01

    Full Text Available Cash management can be defined as the optimization of cash flows and investment of excess cash in a corporation. But from an international perspective, cash management becomes very complex because of different laws among countries that pertain to cross-border cash transfers. Besides, the value of cross-border cash transfers is affected by the exchange rate fluctuations. This article is concerned with the optimization of cash flows in a multinational corporation and examines centralized cash management approach and pooling technique in order to optimize the parent-subsidiary and inter-subsidiary cash flows.

  1. Knowledge transfer and innovation in cross-border cooperation programmes between Finland and Russia

    DEFF Research Database (Denmark)

    Makkonen, Teemu; Williams, Allan; Weidenfeld, Adi

    2017-01-01

    Cross-border cooperation (CBC) at the European Union’s (EU) external borders has been promoted via programmes, such as the European Neighbourhood and Partnership Instrument (ENPI), funded jointly by the EU and participating countries. However, little empirical attention has been laid to these pro...... the actors in opposing sides of the border, is actually the main factor that facilitates and creates potential for learning, knowledge transfer and innovation to take place in the Finnish-Russian cross-border region....... to these programmes in terms of their role in enhancing cross-border knowledge transfer and innovation, particularly in the field of tourism. To shed light on the issue, semi-structured interviews were conducted with representatives of (12 Russian; 12 Finnish) organisations that had participated in ENPI CBC funded...... tourism related Finnish-Russian cross-border projects. The results shed light on the possibilities of and obstacles to cross-border knowledge transfer and innovation. ENPI CBC programmes between Finland and Russia are highly relevant for successful cross-border knowledge transfer and innovation...

  2. Bypassing health facilities for childbirth in the context of the JSY cash transfer program to promote institutional birth: A cross-sectional study from Madhya Pradesh, India.

    Science.gov (United States)

    Sabde, Yogesh; Chaturvedi, Sarika; Randive, Bharat; Sidney, Kristi; Salazar, Mariano; De Costa, Ayesha; Diwan, Vishal

    2018-01-01

    Bypassing health facilities for childbirth can be costly both for women and health systems. There have been some reports on this from Sub-Saharan African and from Nepal but none from India. India has implemented the Janani Suraksha Yojana (JSY), a large national conditional cash transfer program which has successfully increased the number of institutional births in India. This paper aims to study the extent of bypassing the nearest health facility offering intrapartum care in three districts of Madhya Pradesh, India, and to identify individual and facility determinants of bypassing in the context of the JSY program. Our results provide information to support the optimal utilization of facilities at different levels of the healthcare system for childbirth. Data was collected from 96 facilities (74 public) and 720 rural mothers who delivered at these facilities were interviewed. Multilevel logistic regression was used to analyze the data. Facility obstetric care functionality was assessed by the number of emergency obstetric care (EmOC) signal functions performed in the last three months. Thirty eighth percent of the mothers bypassed the nearest public facility for their current delivery. Primiparity, higher education, arriving by hired transport and a longer distance from home to the nearest facility increased the odds of bypassing a public facility for childbirth. The variance partition coefficient showed that 37% of the variation in bypassing the nearest public facility can be attributed to difference between facilities. The number of basic emergency obstetric care signal functions (AOR = 0.59, 95% CI 0.37-0.93), and the availability of free transportation at the nearest facility (AOR = 0.11, 95% CI 0.03-0.31) were protective factors against bypassing. The variation between facilities (MOR = 3.85) was more important than an individual's characteristics to explain bypassing in MP. This multilevel study indicates that in this setting, a focus on increasing the level

  3. Bypassing health facilities for childbirth in the context of the JSY cash transfer program to promote institutional birth: A cross-sectional study from Madhya Pradesh, India

    Science.gov (United States)

    Sabde, Yogesh; Chaturvedi, Sarika; Randive, Bharat; Sidney, Kristi; Salazar, Mariano; De Costa, Ayesha; Diwan, Vishal

    2018-01-01

    Bypassing health facilities for childbirth can be costly both for women and health systems. There have been some reports on this from Sub-Saharan African and from Nepal but none from India. India has implemented the Janani Suraksha Yojana (JSY), a large national conditional cash transfer program which has successfully increased the number of institutional births in India. This paper aims to study the extent of bypassing the nearest health facility offering intrapartum care in three districts of Madhya Pradesh, India, and to identify individual and facility determinants of bypassing in the context of the JSY program. Our results provide information to support the optimal utilization of facilities at different levels of the healthcare system for childbirth. Data was collected from 96 facilities (74 public) and 720 rural mothers who delivered at these facilities were interviewed. Multilevel logistic regression was used to analyze the data. Facility obstetric care functionality was assessed by the number of emergency obstetric care (EmOC) signal functions performed in the last three months. Thirty eighth percent of the mothers bypassed the nearest public facility for their current delivery. Primiparity, higher education, arriving by hired transport and a longer distance from home to the nearest facility increased the odds of bypassing a public facility for childbirth. The variance partition coefficient showed that 37% of the variation in bypassing the nearest public facility can be attributed to difference between facilities. The number of basic emergency obstetric care signal functions (AOR = 0.59, 95% CI 0.37–0.93), and the availability of free transportation at the nearest facility (AOR = 0.11, 95% CI 0.03–0.31) were protective factors against bypassing. The variation between facilities (MOR = 3.85) was more important than an individual’s characteristics to explain bypassing in MP. This multilevel study indicates that in this setting, a focus on increasing the

  4. Programme

    OpenAIRE

    Hobday, E, fl. 1905, artist

    2003-01-01

    A photograph of an illustrated programme listing dances. The illustration shows a snake charmer playing to a snake while another man watches. Buildings and trees can be seen behind a wall in the distance. In the lower right-hand corner of the programme is the signature 'E. Hobday'. The programme is almost certainly related to the Punjab Ball, Lahore. It is placed next to the Punjab Ball Menu in the album and the Menu is also illustrated by 'E. Hobday'.

  5. A Cash Management Model.

    Science.gov (United States)

    Boyles, William W.

    1975-01-01

    In 1973, Ronald G. Lykins presented a model for cash management and analysed its benefits for Ohio University. This paper attempts to expand on the previous method by providing answers to questions raised by the Lykins methods by a series of simple algebraic formulas. Both methods are based on two premises: (1) all cash over which the business…

  6. Technology transfer on long-term radioactive waste management - a feasible option for small nuclear programmes?

    International Nuclear Information System (INIS)

    Mele, I.; Mathieson, J.

    2007-01-01

    The EU project CATT - Co-operation and technology transfer on long-term radioactive waste management for Member States with small nuclear programmes investigated the feasibility of countries with small nuclear programmes implementing long-term radioactive waste management solutions within their national borders, through collaboration on technology transfer with those countries with advanced disposal concepts. The main project objective was to analyse the existing capabilities of technology owning Member States and the corresponding requirements of potential technology acquiring Member States and, based on the findings, to develop a number of possible collaboration models and scenarios that could be used in a technology transfer scheme. The project CATT was performed as a specific support action under the EU sixth framework programme and it brought together waste management organisations from six EU Member States: UK, Bulgaria, Germany, Lithuania, Slovenia and Sweden. In addition, the EC Joint Research Centre from the Netherlands also participated as a full partner. The paper summarises the analyses performed and the results obtained within the project. (author)

  7. Out-of-pocket expenditures for childbirth in the context of the Janani Suraksha Yojana (JSY) cash transfer program to promote facility births: who pays and how much? Studies from Madhya Pradesh, India.

    Science.gov (United States)

    Sidney, Kristi; Salazar, Mariano; Marrone, Gaetano; Diwan, Vishal; DeCosta, Ayesha; Lindholm, Lars

    2016-05-03

    High out-of-pocket expenditures (OOPE) make delivery care difficult to access for a large proportion of India's population. Given that home deliveries increase the risk of maternal mortality, in 2005 the Indian Government implemented the Janani Suraksha Yojana (JSY) program to incentivize poor women to deliver in public health facilities by providing a cash transfer upon discharge. We study the OOPE among JSY beneficiaries and women who deliver at home, and predictors of OOPE in two districts of Madhya Pradesh. September 2013 to April 2015 a cross-sectional community-based survey was performed. All recently delivered women were interviewed to elicit delivery costs, socio-demographic characteristics and delivery related information. Most women (n = 1995, 84 %) delivered in JSY public health facility, the remaining 16 % (n = 386) delivered at home. Women who delivered under JSY program had a higher median, IQR OOPE ($8, 3-18) compared to home ($6, 2-13). Among JSY beneficiaries, poorest women had twice net gain ($20) versus wealthiest ($10) post cash transfer. Informal payments (64 %) and food/baby items (77 %) were the two most common sources of OOPE. OOPE made among JSY beneficiaries was pro-poor: poorer women made proportionally less expenditures compared to wealthier women. In an adjusted model, delivering in a JSY public facility increased odds of incurring expenditures (OR: 1.58, 95 % CI: 1.11-2.25) but at the same time to a 16 % (95 % CI: 0.73-0.96) decrease in the amount paid compared to home deliveries. OOPE is prevalent among JSY beneficiaries as well in home deliveries. In JSY, OOPE varies by income quintile: wealthier quintiles pay more OOPE. However the cash incentive is adequate enough to provide a net gain for all quintiles. OOPE was largely due to indirect costs and not direct medical payments. The program seems to be effective in providing financial protection for the most vulnerable groups.

  8. Techniques for Improving Cash Management.

    Science.gov (United States)

    Lykins, Ronald G.

    1973-01-01

    This article deals with several techniques for regulating cash inflow and outflow and investing surplus cash for short periods of time. The techniques are: (1) consolidating checking accounts, (2) determining surplus cash by examining bank balances in conjunction with the cash book, (3) selecting a minimum bank balance, (4) investing a greater…

  9. Transfer of radioactive waste management expertise from Switzerland to other countries with small nuclear power programmes

    International Nuclear Information System (INIS)

    McKinley, I.; Birkhaeuser, Ph.; Kickmaier, W.; Vomvoris, S.; Zuidema, P.

    2000-01-01

    A legal requirement which coupled demonstration of the feasibility of nuclear waste disposal to the extension of reactor operational licenses beyond 1985 acted to force rapid development of the Swiss radioactive waste management programme. Over a period of almost 30 years and at a cost of approximately 800 M CHF Nagra has become established as a centre of excellence in this field. Resources include highly experienced manpower, literature and databases supporting development of national repositories for L/ILW and HLW/TRU and state-of-the-art R and D infrastructure (including 2 underground laboratories, hot-laboratory facilities at PSI (Paul Scherrer Institute), modelling groups at universities etc.). This paper reviews Nagra's experience and considers various ways in which expertise can be transferred to other small countries to minimise duplication of effort and optimise development of their own national programmes. (author)

  10. The cost of preventing undernutrition: cost, cost-efficiency and cost-effectiveness of three cash-based interventions on nutrition outcomes in Dadu, Pakistan.

    Science.gov (United States)

    Trenouth, Lani; Colbourn, Timothy; Fenn, Bridget; Pietzsch, Silke; Myatt, Mark; Puett, Chloe

    2018-07-01

    Cash-based interventions (CBIs) increasingly are being used to deliver humanitarian assistance and there is growing interest in the cost-effectiveness of cash transfers for preventing undernutrition in emergency contexts. The objectives of this study were to assess the costs, cost-efficiency and cost-effectiveness in achieving nutrition outcomes of three CBIs in southern Pakistan: a 'double cash' (DC) transfer, a 'standard cash' (SC) transfer and a 'fresh food voucher' (FFV) transfer. Cash and FFVs were provided to poor households with children aged 6-48 months for 6 months in 2015. The SC and FFV interventions provided $14 monthly and the DC provided $28 monthly. Cost data were collected via institutional accounting records, interviews, programme observation, document review and household survey. Cost-effectiveness was assessed as cost per case of wasting, stunting and disability-adjusted life year (DALY) averted. Beneficiary costs were higher for the cash groups than the voucher group. Net total cost transfer ratios (TCTRs) were estimated as 1.82 for DC, 2.82 for SC and 2.73 for FFV. Yet, despite the higher operational costs, the FFV TCTR was lower than the SC TCTR when incorporating the participation cost to households, demonstrating the relevance of including beneficiary costs in cost-efficiency estimations. The DC intervention achieved a reduction in wasting, at $4865 per case averted; neither the SC nor the FFV interventions reduced wasting. The cost per case of stunting averted was $1290 for DC, $882 for SC and $883 for FFV. The cost per DALY averted was $641 for DC, $434 for SC and $563 for FFV without discounting or age weighting. These interventions are highly cost-effective by international thresholds. While it is debatable whether these resource requirements represent a feasible or sustainable investment given low health expenditures in Pakistan, these findings may provide justification for continuing Pakistan's investment in national social safety

  11. "Broadband" Bioinformatics Skills Transfer with the Knowledge Transfer Programme (KTP): Educational Model for Upliftment and Sustainable Development.

    Science.gov (United States)

    Chimusa, Emile R; Mbiyavanga, Mamana; Masilela, Velaphi; Kumuthini, Judit

    2015-11-01

    A shortage of practical skills and relevant expertise is possibly the primary obstacle to social upliftment and sustainable development in Africa. The "omics" fields, especially genomics, are increasingly dependent on the effective interpretation of large and complex sets of data. Despite abundant natural resources and population sizes comparable with many first-world countries from which talent could be drawn, countries in Africa still lag far behind the rest of the world in terms of specialized skills development. Moreover, there are serious concerns about disparities between countries within the continent. The multidisciplinary nature of the bioinformatics field, coupled with rare and depleting expertise, is a critical problem for the advancement of bioinformatics in Africa. We propose a formalized matchmaking system, which is aimed at reversing this trend, by introducing the Knowledge Transfer Programme (KTP). Instead of individual researchers travelling to other labs to learn, researchers with desirable skills are invited to join African research groups for six weeks to six months. Visiting researchers or trainers will pass on their expertise to multiple people simultaneously in their local environments, thus increasing the efficiency of knowledge transference. In return, visiting researchers have the opportunity to develop professional contacts, gain industry work experience, work with novel datasets, and strengthen and support their ongoing research. The KTP develops a network with a centralized hub through which groups and individuals are put into contact with one another and exchanges are facilitated by connecting both parties with potential funding sources. This is part of the PLOS Computational Biology Education collection.

  12. Impact evaluation of different cash-based intervention modalities on child and maternal nutritional status in Sindh Province, Pakistan, at 6 mo and at 1 y: A cluster randomised controlled trial.

    Science.gov (United States)

    Fenn, Bridget; Colbourn, Tim; Dolan, Carmel; Pietzsch, Silke; Sangrasi, Murtaza; Shoham, Jeremy

    2017-05-01

    Cash-based interventions (CBIs), offer an interesting opportunity to prevent increases in wasting in humanitarian aid settings. However, questions remain as to the impact of CBIs on nutritional status and, therefore, how to incorporate them into emergency programmes to maximise their success in terms of improved nutritional outcomes. This study evaluated the effects of three different CBI modalities on nutritional outcomes in children under 5 y of age at 6 mo and at 1 y. We conducted a four-arm parallel longitudinal cluster randomised controlled trial in 114 villages in Dadu District, Pakistan. The study included poor and very poor households (n = 2,496) with one or more children aged 6-48 mo (n = 3,584) at baseline. All four arms had equal access to an Action Against Hunger-supported programme. The three intervention arms were as follows: standard cash (SC), a cash transfer of 1,500 Pakistani rupees (PKR) (approximately US$14; 1 PKR = US$0.009543); double cash (DC), a cash transfer of 3,000 PKR; or a fresh food voucher (FFV) of 1,500 PKR; the cash or voucher amount was given every month over six consecutive months. The control group (CG) received no specific cash-related interventions. The median total household income for the study sample was 8,075 PKR (approximately US$77) at baseline. We hypothesized that, compared to the CG in each case, FFVs would be more effective than SC, and that DC would be more effective than SC-both at 6 mo and at 1 y-for reducing the risk of child wasting. Primary outcomes of interest were prevalence of being wasted (weight-for-height z-score [WHZ] nutrition resilience. Purchasing restrictions applied to food-based voucher transfers could have unintended effects, and their use needs to be carefully planned to avoid this. ISRCTN registry ISRCTN10761532.

  13. “No one says ‘No’ to money” – a mixed methods approach for evaluating conditional cash transfer schemes to improve girl children’s status in Haryana, India

    Science.gov (United States)

    2014-01-01

    Introduction Haryana was the first state in India to launch a conditional cash transfer (CCT) scheme in 1994. Initially it targeted all disadvantaged girls but was revised in 2005 to restrict it to second girl children of all groups. The benefit which accrued at girl attaining 18 years and subject to conditionalities of being fully immunized, studying till class 10 and remaining unmarried, was increased from about US$ 500 to US$ 2000. Using a mixed methods approach, we evaluated the implementation and possible impact of these two schemes. Methods A survey was conducted among 200 randomly selected respondents of Ballabgarh Block in Haryana to assess their perceptions of girl children and related schemes. A cohort of births during this period was assembled from population database of 28 villages in this block and changes in sex ratio at birth and in immunization coverage at one year of age among boys and girls was measured. Education levels and mean age at marriage of daughters were compared with daughters-in-law from outside Haryana. In-depth interviews were conducted among district level implementers of these schemes to assess their perceptions of programs’ implementation and impact. These were analyzed using a thematic approach. Results The perceptions of girls as a liability and poor (9% to 15%) awareness of the schemes was noted. The cohort analysis showed that while there has been an improvement in the indicators studied, these were similar to those seen among the control groups. Qualitative analysis identified a “conspiracy of silence” - an underplaying of the pervasiveness of the problem coupled with a passive implementation of the program and a clash between political culture of giving subsidies and a bureaucratic approach that imposed many conditionalities and documentary needs for availing of benefits. Conclusion The apparent lack of impact on the societal mindset calls for a revision in the current approach of addressing a social issue by a purely

  14. Risk assessment future cash flows

    OpenAIRE

    Chachina H. G.

    2012-01-01

    This article is about risk assessment in planning future cash flows. Discount rate in DCF-model must include four factors: risk cash flow, inflation, value of investments, turnover assets. This has an influence net present value cash flow and make his incomparable.

  15. Excess cash holdings and shareholder value

    OpenAIRE

    Lee, Edward; Powell, Ronan

    2011-01-01

    We examine the determinants of corporate cash holdings in Australia and the impact on shareholder wealth of holding excess cash. Our results show that a trade-off model best explains the level of a firm’s cash holdings in Australia. We find that 'transitory' excess cash firms earn significantly higher risk-adjusted returns compared to 'persistent' excess cash firms, suggesting that the market penalises firms that hoard cash. The marginal value of cash also declines with larger cash balances, ...

  16. "Broadband" Bioinformatics Skills Transfer with the Knowledge Transfer Programme (KTP: Educational Model for Upliftment and Sustainable Development.

    Directory of Open Access Journals (Sweden)

    Emile R Chimusa

    2015-11-01

    Full Text Available A shortage of practical skills and relevant expertise is possibly the primary obstacle to social upliftment and sustainable development in Africa. The "omics" fields, especially genomics, are increasingly dependent on the effective interpretation of large and complex sets of data. Despite abundant natural resources and population sizes comparable with many first-world countries from which talent could be drawn, countries in Africa still lag far behind the rest of the world in terms of specialized skills development. Moreover, there are serious concerns about disparities between countries within the continent. The multidisciplinary nature of the bioinformatics field, coupled with rare and depleting expertise, is a critical problem for the advancement of bioinformatics in Africa. We propose a formalized matchmaking system, which is aimed at reversing this trend, by introducing the Knowledge Transfer Programme (KTP. Instead of individual researchers travelling to other labs to learn, researchers with desirable skills are invited to join African research groups for six weeks to six months. Visiting researchers or trainers will pass on their expertise to multiple people simultaneously in their local environments, thus increasing the efficiency of knowledge transference. In return, visiting researchers have the opportunity to develop professional contacts, gain industry work experience, work with novel datasets, and strengthen and support their ongoing research. The KTP develops a network with a centralized hub through which groups and individuals are put into contact with one another and exchanges are facilitated by connecting both parties with potential funding sources. This is part of the PLOS Computational Biology Education collection.

  17. Assets Expropriation via Cash Dividends? Free Cash Flow or Tunneling

    Directory of Open Access Journals (Sweden)

    Jeng-Ren Chiou

    2010-06-01

    Full Text Available This study solves the dispute between the free cash flow and tunneling hypotheses in explaining the role of cash dividends on asset expropriation of the controlling shareholders in Chinese listed firms. Investors value more the cash dividends and the cash holdings of firms with lower ownership control than those of firms with higher ownership control. This is more consistent with the tunneling hypothesis. However, when investment opportunities are considered, the free cash flow hypothesis better explains firms' dividend policy. Investors value more the cash dividends of firms with fewer investment opportunities and higher probability of expropriation. This study indicates that investors are concerned with the potential asset expropriation through cash payouts, unless firms possess high growth opportunities.

  18. Taxable Cash Dividends

    DEFF Research Database (Denmark)

    Bechmann, Ken L.; Raaballe, Johannes

    Firms pay out cash using both dividends and share repurchases. In many aspects these two means are similar, but one important difference is that dividends are generally taxed more heavily than share repurchases. Nevertheless firms persist in paying out large amounts in dividends. This paper...... provides an explanation for this dividend puzzle by developing a class of signaling models violating the "single-crossing" property in which information about the quality of the firm is asymmetric between the management and the shareholders. In these models a high-quality firm can always signal its quality...... by using share repurchases only. However, in certain cases share repurchases become costlier on the margin for a high-quality firm than for a low-quality imitator. In such cases, the high-quality firm signals most cost efficiently by means of a combination of share repurchases and taxable cash dividends...

  19. Understanding the tools for managing cash.

    Science.gov (United States)

    Pelfrey, S

    1990-10-01

    An institution's survival in the 1990s depends on its ability to generate enough cash to meet its needs. The author discusses two accounting tools, the cash budget and the statement of cash flows, that help monitor and control cash flows. By understanding the nature and impact of each report, nurse administrators can help safeguard one of their institution's scarcest resources: cash.

  20. Empirical Studies on Cash Payments

    NARCIS (Netherlands)

    J. Kippers (Jeanine)

    2004-01-01

    textabstractCash is still the most common means of daily payments. The large number of cash payments is supported by a costly distribution system in which retailers, banks and central banks participate. Currency is issued in a range of bank note and coin denominations to facilitate efficiency

  1. Optimal Cash Management Under Uncertainty

    OpenAIRE

    Bensoussan, Alain; Chutani, Anshuman; Sethi, Suresh

    2009-01-01

    We solve an agent's optimization problem of meeting demands for cash over time with cash deposited in bank or invested in stock. The stock pays dividends and uncertain capital gains, and a commission is incurred in buying and selling of stock. We use a stochastic maximum principle to obtain explicitly the optimal transaction policy.

  2. `Discover, Understand, Implement, and Transfer': Effectiveness of an intervention programme to motivate students for science

    Science.gov (United States)

    Schütte, Kerstin; Köller, Olaf

    2015-09-01

    Considerable research has focused on how best to satisfy modern societies' needs for skilled labour in the field of science. The present study evaluated an intervention programme designed to increase secondary school students' motivation to pursue a science career. Students from 3 schools of the highest educational track participated for up to 2 years in the intervention programme, which was implemented as an elective in the school curriculum. Our longitudinal study design for evaluating the effectiveness of the intervention programme included all students at the grade levels involved in the programme with students who did not participate serving as a control group. Mixed-model analyses of variance showed none of the intended effects of the intervention programme on science motivation; latent growth models corroborated these results. When the programme began, students who enrolled in the science elective (n = 92) were already substantially more motivated than their classmates (n = 228). Offering such an intervention programme as an elective did not further increase the participating students' science motivation. It seems worthwhile to carry out intervention programmes with talented students who show (comparatively) little interest in science at the outset rather than with highly motivated students who self-select into the programme.

  3. Optimal ratio of cash and non-cash payments

    Directory of Open Access Journals (Sweden)

    Galina S. Panova

    2014-01-01

    Full Text Available Analysis of the present condition and prospects of development of the monetary sector of the Russian economy. Quantitative parameters of aggregate turnover, including the value of cash and non-cash it. Researched issues restricting cash advance industry in Russia and other countries; the problems encountered by foreign States in imposing administrative limits on cash payments; provides specific recommendations and identified risks imposing such restrictions in Russia. The article deals with topical issues of optimization of structure of aggregate turnover. Analyzing the development of money turnover, the role and the place of cash in the economy, the author explored the basic approaches to the determination and regulation of money turnover, proposed a new approach to ensure transparency in money flows. Particularly promising cash flow optimization are: a measures aimed at improving the cash turnover (including maintaining the stability of the national currency, improving the procedures for issuing and withdrawing money from circulation, determine the optimal structure of monetary aggregates, etc. and b development of cashless money turnover. The author's position is presented on the future of the scientific basis and practical realization of the optimal ratio of cash and cashless money turnover in Russia and other countries. In particular, felt the need to increase information transparency, openness international information exchange in order to improve monetary policy by countries at the national and international level. To develop common approaches (models of the analysis and forecasting of financial markets, as well as the establishment of an international coordination centre responsible for the collection, verification and access to public information databases for the cross-country studies of banking and financial and monetary sphere.

  4. Computer programme for the derivation of transfer functions for multivariable systems (solutions of determinants with polynomial elements)

    International Nuclear Information System (INIS)

    Guppy, C.B.

    1962-03-01

    In the methods adopted in this report transfer functions in the form of the ratio of two polynomials of the complex variable s are derived from sets of laplace transformed simultaneous differential equations. The set of algebraic simultaneous equations are solved using Cramer's Rule and this gives rise to determinants having polynomial elements. It is shown how the determinants are formed when transfer functions are specified. The procedure for finding the polynomial coefficients from a given determinant is fully described. The first method adopted is a direct one and reduces a determinant with first degree polynomial elements to secular form and follows this by an application of the similarity transformation to reduce the determinant to a form from which the polynomial coefficients can be read out directly. The programme is able to solve a single determinant with polynomial elements and this can be used to reduce an eigenvalue problem in the form of a secular determinant to polynomial form if the need arises. A description is given of the way in which the data is to be set out for solution by the programme. A description is also given of a method used in an earlier programme for solving polynomial determinants by curve fitting techniques using Chebyshev Polynomials. In this method determinants with polynomial elements of any degree can be solved. (author)

  5. 34 CFR 668.166 - Excess cash.

    Science.gov (United States)

    2010-07-01

    ... the Secretary for the costs the Secretary incurred in providing that excess cash to the institution... 34 Education 3 2010-07-01 2010-07-01 false Excess cash. 668.166 Section 668.166 Education..., DEPARTMENT OF EDUCATION STUDENT ASSISTANCE GENERAL PROVISIONS Cash Management § 668.166 Excess cash. (a...

  6. Cash efficiency for bank branches

    OpenAIRE

    Cabello, Julia Garc?a

    2013-01-01

    Bank liquidity management has become a major issue during the financial crisis as liquidity shortages have intensified and have put pressure on banks to diversity and improve their liquidity sources. While a significant strand of the literature concentrates on wholesale liquidity generation and on the alternative to deposit funding, the management of an inventory of cash holdings within the banks? branches is also a relevant issue as any significant improvement in cash management at the bank ...

  7. Protocol of the Low Birth Weight South Asia Trial (LBWSAT), a cluster-randomised controlled trial testing impact on birth weight and infant nutrition of Participatory Learning and Action through women's groups, with and without unconditional transfers of fortified food or cash during pregnancy in Nepal.

    Science.gov (United States)

    Saville, Naomi M; Shrestha, Bhim P; Style, Sarah; Harris-Fry, Helen; Beard, B James; Sengupta, Aman; Jha, Sonali; Rai, Anjana; Paudel, Vikas; Pulkki-Brannstrom, Anni-Maria; Copas, Andrew; Skordis-Worrall, Jolene; Bhandari, Bishnu; Neupane, Rishi; Morrison, Joanna; Gram, Lu; Sah, Raghbendra; Basnet, Machhindra; Harthan, Jayne; Manandhar, Dharma S; Osrin, David; Costello, Anthony

    2016-10-21

    Low birth weight (LBW, nutrition Participatory Learning and Action behaviour change strategy (PLA) for pregnant women through women's groups, with or without unconditional transfers of food or cash to pregnant women in two districts of southern Nepal. The study is a cluster randomised controlled trial (non-blinded). PLA comprises women's groups that discuss, and form strategies about, nutrition in pregnancy, low birth weight and hygiene. Women receive up to 7 monthly transfers per pregnancy: cash is NPR 750 (~US$7) and food is 10 kg of fortified sweetened wheat-soya Super Cereal per month. The unit of randomisation is a rural village development committee (VDC) cluster (population 4000-9200, mean 6150) in southern Dhanusha or Mahottari districts. 80 VDCs are randomised to four arms using a participatory 'tombola' method. Twenty clusters each receive: PLA; PLA plus food; PLA plus cash; and standard care (control). Participants are (mostly Maithili-speaking) pregnant women identified from 8 weeks' gestation onwards, and their infants (target sample size 8880 birth weights). After pregnancy verification, mothers may be followed up in early and late pregnancy, within 72 h, after 42 days and within 22 months of birth. Outcomes pertain to the individual level. Primary outcomes include birth weight within 72 h of birth and infant weight-for-age Z-score measured cross-sectionally on children born of the study. Secondary outcomes include prevalence of LBW, eating behaviour and weight during pregnancy, maternal and newborn illness, preterm delivery, miscarriage, stillbirth or neonatal mortality, infant Z-scores for length-for-age and weight-for-length, head circumference, and postnatal maternal BMI and mid-upper arm circumference. Exposure to women's groups, food or cash transfers, home visits, and group interventions are measured. Determining the relative importance to birth weight and early childhood nutrition of adding food or cash transfers to PLA women's groups

  8. Hedging Cash Flows from Commodity Processing

    OpenAIRE

    Dahlgran, Roger A.

    2005-01-01

    Agribusinesses make long-term plant-investment decisions based on discounted cash flow. It is therefore incongruous for an agribusiness firm to use cash flow as a plant-investment criterion and then to completely discard cash flow in favor of batch profits as an operating objective. This paper assumes that cash flow and its stability is important to commodity processors and examines methods for hedging cash flows under continuous processing. Its objectives are (a) to determine how standard he...

  9. Preparing people to make a difference: Transferable lessons from a first-year student leadership development programme in New Zealand. A Practice Report

    Directory of Open Access Journals (Sweden)

    Hesham Elnagar

    2011-02-01

    Full Text Available The transition from a secondary to a university education environment is one rife with opportunity and novelty. It can be a difficult time for students as they begin to participate and take part in a new culture. Lessons learned from a specific programme for first-year students, the Emerging Leaders Development Programme (ELDP, provide an example of an initiative that not only assists with the transition, but also offers leadership development opportunities. Data collected from ELDP participants suggests that there are valuable, relatable, and transferable ideas that can inform the design and implementation of other transition programmes generally, and leadership development programmes specifically.   

  10. "Discover, Understand, Implement, and Transfer": Effectiveness of an Intervention Programme to Motivate Students for Science

    Science.gov (United States)

    Schütte, Kerstin; Köller, Olaf

    2015-01-01

    Considerable research has focused on how best to satisfy modern societies' needs for skilled labour in the field of science. The present study evaluated an intervention programme designed to increase secondary school students' motivation to pursue a science career. Students from 3 schools of the highest educational track participated for up to 2…

  11. More evidence on the impact of India's conditional cash transfer program, Janani Suraksha Yojana: quasi-experimental evaluation of the effects on childhood immunization and other reproductive and child health outcomes.

    Directory of Open Access Journals (Sweden)

    Natalie Carvalho

    Full Text Available In 2005, India established a conditional cash transfer program called Janani Suraksha Yojana (JSY, to increase institutional delivery and encourage the use of reproductive and child health-related services.To assess the effect of maternal receipt of financial assistance from JSY on childhood immunizations, post-partum care, breastfeeding practices, and care-seeking behaviors.We use data from the latest district-level household survey (2007-2008 to conduct a propensity score matching analysis with logistic regression. We conduct the analyses at the national level as well as separately across groups of states classified as high-focus and non-high-focus. We carry out several sensitivity analyses including a subgroup analysis stratified by possession of an immunization card.Receipt of financial assistance from JSY led to an increase in immunization rates ranging from 3.1 (95%CI 2.2-4.0 percentage points for one dose of polio vaccine to 9.1 (95%CI 7.5-10.7 percentage points in the proportion of fully vaccinated children. Our findings also indicate JSY led to increased post-partum check-up rates and healthy early breastfeeding practices around the time of childbirth. No effect of JSY was found on exclusive breastfeeding practices and care-seeking behaviors. Effect sizes were consistently larger in states identified as being a key focus for the program. In an analysis stratified by possession of an immunization card, there was little to no effect of JSY among those with vaccination cards, while the effect size was much larger than the base case results for those missing vaccination cards, across nearly all immunization outcomes.Early results suggest the JSY program led to a significant increase in childhood immunization rates and some healthy reproductive health behaviors, but the structuring of financial incentives to pregnant women and health workers warrants further review. Causal interpretation of our results relies on the assumption that

  12. Impact of cash conversion cycle on cash holding – A study on FMCG sector

    Directory of Open Access Journals (Sweden)

    Somnath Das

    2017-11-01

    Full Text Available In today’s environment, cash conversion cycle is randomly used as a measure of liquidity of the organizations. Cash conversion cycle is considered as the length of time between raw-materials and collection of cash from debtors. It can be used as a benchmarking competitors or comparing companies. On the other hand, Cash holding is one of the most important financial decisions that a manager has to make in any organization. Some organizations hold more cash and some organizations hold less cash. In this study, we perform a survey to make a relationship between Cash Conversion Cycle and Cash Holding.

  13. Goodbye to Cool Cash

    DEFF Research Database (Denmark)

    Olsen, Mia; Mogensen, Klaus Æ.

    2014-01-01

    We have used money as a means of payment since the earliest civilisations, and even though the way we spend and transfer money has changed over time, the coin still remains almost unchanged. Now, the coin and its young er big brother the banknote are threatened by new digital forms of payment, an...

  14. The relationship between learning styles and motivation to transfer of learning in a vocational training programme

    Directory of Open Access Journals (Sweden)

    Pablo Olivos

    2016-01-01

    Full Text Available Although there is ample research about Kolb's learning styles, few studies have examined their relationship with motivations to transfer, a concept used to assess whether the content and competencies learned through professional training activities are transferred to the workplace context. Ninety-six students (M = 24.58 years old; 99% males from three vocational training institutes participated in laboratory activities at the Renewable Energy Research Institute of the University of Castilla-La Mancha, Spain. They completed a self-administered questionnaire that included the Kolb's Learning Styles Inventory; two scales adapted to measure student motivation to transfer their learning from training experiences; and a scale of satisfaction with the activities. A correlation analysis showed positive and moderately strong correlations (r = .708; p < .01 between motivations to transfer and “the relevance of the activities to academic performance”. A discriminant analysis between transfer and learning styles revealed that the “Student training motivation” item resulted in a distinct difference between assimilators and convergers, explaining 97.1% of the model variance (Wilks’ λ = .459; χ2 = 21.028; Sig. = .002 and classifying 56.4% of the cases. A discussion is presented as to the implications of these results for the theory of learning styles and the ways in which the design of the educational activities described in the study can be improved.

  15. Management of Agricultural Enterprise Cash Flows

    OpenAIRE

    Tamara Kucherenko; Inna Tkachuk

    2014-01-01

    Cash is the only kind of company resource which can be transformed directly and with minimum time lag into any other kind of resources, their movement servicing all management operational processes. The article is covers the development of cash management algorithm in agricultural enterprise. The author has worked out the algorithm for determining the efficiency of cash management in agricultural enterprise. As the basis of the algorithm the income approach and discounted cash flow method has...

  16. 7 CFR 277.7 - Cash depositories.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 4 2010-01-01 2010-01-01 false Cash depositories. 277.7 Section 277.7 Agriculture... FOOD STAMP AND FOOD DISTRIBUTION PROGRAM PAYMENTS OF CERTAIN ADMINISTRATIVE COSTS OF STATE AGENCIES § 277.7 Cash depositories. (a) The term “cash depositories” refers to banks or other institutions which...

  17. OPTIMIZATION OF ATM AND BRANCH CASH OPERATIONS USING AN INTEGRATED CASH REQUIREMENT FORECASTING AND CASH OPTIMIZATION MODEL

    OpenAIRE

    Canser BİLİR

    2018-01-01

    In this study, an integrated cash requirement forecasting and cash inventory optimization model is implemented in both the branch and automated teller machine (ATM) networks of a mid-sized bank in Turkey to optimize the bank’s cash supply chain. The implemented model’s objective is to minimize the idle cash levels at both branches and ATMs without decreasing the customer service level (CSL) by providing the correct amount of cash at the correct location and time. To the best of our knowledge,...

  18. Presentation of Consolidated Statement of Cash Flows under IAS 7, Statement of Cash Flows

    OpenAIRE

    Calota Traian-Ovidiu; Tănase Alin-Eliodor

    2013-01-01

    The consolidated financial statements must includ a specific statement, regarding cash flows from all activities of the entity, called „consolidated statement of cash flow”. Information for preparing cash flow statements can be found in all other components of the financial statements, such as financial position, statement of comprehensive income and statement of changes in equity. The cash flow statement shall report cash flows during the period classified by operating, investing and financi...

  19. Analyzing the Cash Flow Profiles of Firms Using the Cash Flow Patterns Method

    OpenAIRE

    Aktaş, Rabia; Karğın, Sibel; Karğın, Mahmut

    2012-01-01

    Statement of cash flows that presents important information about firm’s power of cash generation and cash consumption is a reliable source of information for financial statement users. Therefore, financial reporting standards require cash flow statement to be reported and presented with the other financial statements such as statement of financial position, statement of comprehensive income, and statement of changes in equity. Turkish Accounting Standard 7 – “Statement of Cash Flows” (TMS 7 ...

  20. Cash Holdings and Mutual Fund Performance

    OpenAIRE

    Mikhail Simutin

    2014-01-01

    Cash holdings of equity mutual funds impose a drag on fund performance but also allow managers to make quick investments in attractive stocks and satisfy outflows without costly fire sales. This article shows that actively managed equity funds with high abnormal cash—that is, with cash holdings in excess of the level predicted by fund attributes—outperform their low abnormal cash peers by over 2% per year. Managers carrying high abnormal cash compensate for the low return on cash by making su...

  1. An Introduction To Digital Cash World

    Directory of Open Access Journals (Sweden)

    Lusiana Citra Dewi

    2010-12-01

    Full Text Available Digital cash is one of the payment methods that is very easy to use, especially when someone is doing a transaction through the internet. Digital cash has many forms and systems, which are supposed to simplify and make the process of transaction easier. This paper will discuss about the definition of the digital cash itself, the important properties that it has, the problems which occur due to its existence, the examples of some key players who operate the digital cash from all around the world, along with how the digital cash works, and lastly, how the digital cash is put into the practical world. The purpose of this paper is to give a glimpse of view on the functions of the digital cash, the systems or protocols which are needed to implement it, and the problems faced by those who use it. 

  2. Why cash-based budgeting still prevails in an era of accrual-based reporting in the public sector

    NARCIS (Netherlands)

    van Helden, Jan; Reichard, Christoph

    2016-01-01

    This paper discusses the phenomenon that governments in many Western countries have transferred their cash-based systems into accrual-based systems for reporting purposes during the last decades, while still retaining cash-based budgeting systems. The main question we want to answer is whether there

  3. OPTIMIZATION OF ATM AND BRANCH CASH OPERATIONS USING AN INTEGRATED CASH REQUIREMENT FORECASTING AND CASH OPTIMIZATION MODEL

    Directory of Open Access Journals (Sweden)

    Canser BİLİR

    2018-04-01

    Full Text Available In this study, an integrated cash requirement forecasting and cash inventory optimization model is implemented in both the branch and automated teller machine (ATM networks of a mid-sized bank in Turkey to optimize the bank’s cash supply chain. The implemented model’s objective is to minimize the idle cash levels at both branches and ATMs without decreasing the customer service level (CSL by providing the correct amount of cash at the correct location and time. To the best of our knowledge, the model is the first integrated model in the literature to be applied to both ATMs and branches simultaneously. The results demonstrated that the integrated model dramatically decreased the idle cash levels at both branches and ATMs without degrading the availability of cash and hence customer satisfaction. An in-depth analysis of the results also indicated that the results were more remarkable for branches. The results also demonstrated that the utilization of various seasonal indices plays a very critical role in the forecasting of cash requirements for a bank. Another unique feature of the study is that the model is the first to include the recycling feature of ATMs. The results demonstrated that as a result of the inclusion of the deliberate seasonal indices in the forecasting model, the integrated cash optimization models can be used to estimate the cash requirements of recycling ATMs.

  4. Inflation, operating cycle, and cash holdings

    Directory of Open Access Journals (Sweden)

    Yanchao Wang

    2014-12-01

    Full Text Available A corporate cash-holding strategy is a trade-off between the costs and benefits of holding cash. At the macrolevel, firms are inclined to adjust and optimize their cash-holding strategies in response to changes in purchasing power due to inflation. At the microlevel, the operating cycle, which indicates the speed and turnover of corporate cash flow, also influences the corporate cash-holding strategy. Firms flexibly adjust their cash-holding strategies in response to changes in the internal and external environment, which is referred to as the cash adjustment strategy. We examine these predicted relationships using a sample of listed firms in China’s stock market over the 1998–2009 period. Consistent with our predictions, the empirical results indicate a significant negative association between cash holdings and the CPI, but the relationship is reversed when the CPI reaches a certain level. There is also a U-shaped relationship between operating cycle and cash holdings, and this relationship is similarly influenced by changes in the inflation level. In examining the macroeconomic environment and microlevel firm-specific characteristics simultaneously, our findings supplement the literature on firms’ cash-holding strategies and provide theoretical and practical implications.

  5. Equivalence of ten different discounted cash flow valuation methods

    OpenAIRE

    Fernandez, Pablo

    2004-01-01

    This paper shows that ten methods of company valuation using discounted cash flows (WACC; equity cash flow; capital cash flow; adjusted present value; residual income; EVA; business's risk-adjusted equity cash flow; business's risk-adjusted free cash flow; risk-free-adjusted equity cash flow; and risk-free-adjusted free cash flow) always give the same value when identical assumptions are used. This result is logical, since all the methods analyze the same reality using the same assumptions; t...

  6. Analysis of cash holding for measuring the efficiency of cash management: A study on IT sector

    Directory of Open Access Journals (Sweden)

    Somnath Das

    2015-01-01

    Full Text Available For measuring the efficiency of management of cash, cash holding is one of the most important financial decisions that the manager of the concerned organization, has to make in the organization. Basically, it is observed that the organization hold cash for future purposes is very negligible. If the organization invested cash in profitable securities then there is some flexibility but when it relates to the capital market holding cash is not advantageous. Generally two contradictory theories such as Trade-off theory and the Pecking order theory are considered for measuring the efficiency of cash management. In this study we generally observed measured the efficiency of Cash Management influenced by Cash Holding. We also measured whether cash holding of the organization is affected with the degree of financial leverage, size of the organization, investment and profitability. This study helps us to understand the influence of DFL, Investment and Size of the organization on Cash holding. Proper holding of cash in cash management can prevent the bankruptcy of any organization and also increases the efficiency of Cash or Liquidity management.

  7. Manipulation of Cash-Settled Futures Contracts.

    OpenAIRE

    Pirrong, Craig

    2001-01-01

    Replacement of delivery settlement of futures contracts with cash settlement is frequently proposed to reduce the frequency of market manipulation. This article shows that it is always possible to design a delivery-settled futures contract that is less susceptible to cornering by a large long than any given cash-settled contract. Such a contract is more susceptible to manipulation by large shorts, however. Therefore, cash settlement does not uniformly dominate delivery settlement as a means o...

  8. The IAEA/CEC programme on validation of models for radionuclide transfer in terrestrial, aquatic and urban environments (VAMP)

    International Nuclear Information System (INIS)

    Linsley, G.S.; Templeton, W.L.; Sinnaeve, J.

    1991-01-01

    In the application of radiological assessment models there is a continuous need to provide evidence of the reliability of model predictions. Ideally models should be developed and tested using data on the transfer of the nuclides of interest in the actual environment being modelled. Very often such measurements are not available and, in some cases, they are impossible to obtain. Reliance has usually to be placed on results taken from similar but different environmental conditions or from laboratory studies. Considerable use has been made of the environmental contamination that resulted from the fallout from the nuclear weapons testing in the 1950s and 1960s for model development and testing. The very special opportunities that exist at the present time in the European parts of the USSR and in Europe generally for the acquisition of data sets appropriate for model testing and for the calibration of radiological assessment models have justified the establishment of an international programme aimed at collating the data from different countries and at co-ordinating work on model testing studies. The VAMP study began in 1988 and currently involves scientists from 23 countries. (VAMP is an acronym for Validation of Model Predictions). This report describes the aims, methods of work and progress of the four VAMP working groups (Terrestrial, Aquatic, Urban and Multiple Pathways)

  9. IAEA coordinated research programme on heat transfer behavior and thermo-hydraulics code testing for super critical water cooled reactors

    International Nuclear Information System (INIS)

    Bilbao y Leon, Sama; Aksan, Nusret

    2009-01-01

    One of the key roles of the IAEA is to foster the collaboration among Member States on the development of advances in technology for advanced nuclear power plants. There is high international interest, both in developing and industrialized countries, in innovative supercritical water-cooled reactors (SCWRs), primarily because such concepts will achieve high thermal efficiencies (44-45%) and promise improved economic competitiveness utilizing and building upon the recent developments for highly efficient fossil power plants. The SCWR has been selected as one of the promising concepts for development by the Generation-IV International Forum. Following the advice of the IAEA Nuclear Energy Department's Technical Working Groups on Advanced Technologies for LWRs and HWRs (the TWG-LWR and TWG-HWR), with the feedback from the Gen-IV SCWR Steering Committee, and in coordination with the OECD-NEA, IAEA has recently started a Coordinated Research Programme (CRP) in the areas of heat transfer behaviour and testing of thermo-hydraulic computer methods for Supercritical Water-Cooled Reactors. The first Research Coordination Meeting (RCM) of the CRP was held at the IAEA Headquarters, in Vienna, Austria in July 2008. This paper summarizes the current status of the CRP, including the Integrated Research Plan and the general schedule for the CRP. (author)

  10. An Introduction to Digital Cash World

    OpenAIRE

    Dewi, Lusiana Citra

    2010-01-01

    Digital cash is one of the payment methods that is very easy to use, especially when someone is doing a transaction through the internet. Digital cash has many forms and systems, which are supposed to simplify and make the process of transaction easier. This paper will discuss about the definition of the digital cash itself, the important properties that it has, the problems which occur due to its existence, the examples of some key players who operate the digital cash from all around the wor...

  11. Date Attachable Offline Electronic Cash Scheme

    Directory of Open Access Journals (Sweden)

    Chun-I Fan

    2014-01-01

    Full Text Available Electronic cash (e-cash is definitely one of the most popular research topics in the e-commerce field. It is very important that e-cash be able to hold the anonymity and accuracy in order to preserve the privacy and rights of customers. There are two types of e-cash in general, which are online e-cash and offline e-cash. Both systems have their own pros and cons and they can be used to construct various applications. In this paper, we pioneer to propose a provably secure and efficient offline e-cash scheme with date attachability based on the blind signature technique, where expiration date and deposit date can be embedded in an e-cash simultaneously. With the help of expiration date, the bank can manage the huge database much more easily against unlimited growth, and the deposit date cannot be forged so that users are able to calculate the amount of interests they can receive in the future correctly. Furthermore, we offer security analysis and formal proofs for all essential properties of offline e-cash, which are anonymity control, unforgeability, conditional-traceability, and no-swindling.

  12. Date attachable offline electronic cash scheme.

    Science.gov (United States)

    Fan, Chun-I; Sun, Wei-Zhe; Hau, Hoi-Tung

    2014-01-01

    Electronic cash (e-cash) is definitely one of the most popular research topics in the e-commerce field. It is very important that e-cash be able to hold the anonymity and accuracy in order to preserve the privacy and rights of customers. There are two types of e-cash in general, which are online e-cash and offline e-cash. Both systems have their own pros and cons and they can be used to construct various applications. In this paper, we pioneer to propose a provably secure and efficient offline e-cash scheme with date attachability based on the blind signature technique, where expiration date and deposit date can be embedded in an e-cash simultaneously. With the help of expiration date, the bank can manage the huge database much more easily against unlimited growth, and the deposit date cannot be forged so that users are able to calculate the amount of interests they can receive in the future correctly. Furthermore, we offer security analysis and formal proofs for all essential properties of offline e-cash, which are anonymity control, unforgeability, conditional-traceability, and no-swindling.

  13. Date Attachable Offline Electronic Cash Scheme

    Science.gov (United States)

    Sun, Wei-Zhe; Hau, Hoi-Tung

    2014-01-01

    Electronic cash (e-cash) is definitely one of the most popular research topics in the e-commerce field. It is very important that e-cash be able to hold the anonymity and accuracy in order to preserve the privacy and rights of customers. There are two types of e-cash in general, which are online e-cash and offline e-cash. Both systems have their own pros and cons and they can be used to construct various applications. In this paper, we pioneer to propose a provably secure and efficient offline e-cash scheme with date attachability based on the blind signature technique, where expiration date and deposit date can be embedded in an e-cash simultaneously. With the help of expiration date, the bank can manage the huge database much more easily against unlimited growth, and the deposit date cannot be forged so that users are able to calculate the amount of interests they can receive in the future correctly. Furthermore, we offer security analysis and formal proofs for all essential properties of offline e-cash, which are anonymity control, unforgeability, conditional-traceability, and no-swindling. PMID:24982931

  14. Cash flow is cash and is a fact. Net income is just an opinion

    OpenAIRE

    Fernandez, Pablo

    2006-01-01

    A company's profit after tax (or net income) is quite an arbitrary figure, obtained after assuming certain accounting hypotheses regarding expenses and revenues. On the other hand, its cash flow is an objective measure, a single figure that is not subject to any personal criterion. In general, to study a company's situation, it is more useful to operate with the cash flow (equity cash flow, free cash flow or capital cash flow) as it is a single figure, while the net income is one of several t...

  15. 23 CFR 140.612 - Cash management.

    Science.gov (United States)

    2010-04-01

    ... 23 Highways 1 2010-04-01 2010-04-01 false Cash management. 140.612 Section 140.612 Highways FEDERAL HIGHWAY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION PAYMENT PROCEDURES REIMBURSEMENT Reimbursement for Bond Issue Projects § 140.612 Cash management. By July 1 of each year the SHA will provide...

  16. Get the Most from Your Cash Flow.

    Science.gov (United States)

    Bauer, Richard I.

    1995-01-01

    Provides guidelines for overseeing a school district's cash-flow management program: (1) receipts into cash; (2) types of float; (3) concentration account or controlled-disbursement account; (4) bank-account analysis; and (5) safety. One figure is included. (LMI)

  17. School District Cash Management. Program Audit.

    Science.gov (United States)

    New York State Legislative Commission on Expenditure Review, Albany.

    New York State law permits school districts to invest cash not immediately needed for district operation and also specifies the kinds of investments that may be made in order to ensure the safety and liquidity of public funds. This audit examines cash management and investment practices in New York state's financially independent school districts.…

  18. Cash Management/Data Matching. Training Guide.

    Science.gov (United States)

    Office of Student Financial Assistance (ED), Washington, DC.

    This training guide for financial aid staff explains the process of direct loan reconciliation and suggests appropriate cash management accounting practices. Chapter 1 explains the importance of cash management, the role of data matching, and reviews basic reconciliation concepts and terms and direct loan reporting requirements. Chapter 2 reviews…

  19. Lessons about Cash and Manager Priorities

    Science.gov (United States)

    Mong, Donald

    2013-01-01

    Experienced managers know that cash affects virtually every aspect of a company's strategy and operations. Business students and new managers, however, sometimes lose sight of the importance of cash amidst the details of accrual-based accounting courses, formula-based finance courses, and production-based management courses. We therefore use…

  20. A tailored relocation stress intervention programme for family caregivers of patients transferred from a surgical intensive care unit to a general ward.

    Science.gov (United States)

    Lee, Seul; Oh, HyunSoo; Suh, YeonOk; Seo, WhaSook

    2017-03-01

    To develop and examine a relocation stress intervention programme tailored for the family caregivers of patients scheduled for transfer from a surgical intensive care unit to a general ward. Family relocation stress syndrome has been reported to be similar to that exhibited by patients, and investigators have emphasised that nurses should make special efforts to relieve family relocation stress to maximise positive contributions to the well-being of patients by family caregivers. A nonequivalent control group, nonsynchronised pretest-post-test design was adopted. The study subjects were 60 family caregivers of patients with neurosurgical or general surgical conditions in the surgical intensive care unit of a university hospital located in Incheon, South Korea. Relocation stress and family burden were evaluated at three times, that is before intervention, immediately after transfer and four to five days after transfer. This relocation stress intervention programme was developed for the family caregivers based on disease characteristics and relocation-related needs. In the experimental group, relocation stress levels significantly and continuously decreased after intervention, whereas in the control group, a slight nonsignificant trend was observed. Family burden levels in the control group increased significantly after transfer, whereas burden levels in the experimental group increased only marginally and nonsignificantly. No significant between-group differences in relocation stress or family burden levels were observed after intervention. Relocation stress levels of family caregivers were significantly decreased after intervention in the experimental group, which indicates that the devised family relocation stress intervention programme effectively alleviated family relocation stress. The devised intervention programme, which was tailored to disease characteristics and relocation-related needs, may enhance the practicality and efficacy of relocation stress

  1. Cash flow optimization in industrial enterprise

    Directory of Open Access Journals (Sweden)

    Myznikova T.N.

    2017-01-01

    Full Text Available Optimization of cash flows of the industrial company provides economic entity necessity and sufficiency of financial resources for sustainable activities. Cash optimization techniques are grouped into two blocks: theoretical - is mainly foreign methods and applied techniques that are mostly used by Russian authors. Models described in the literature are not allowed for the particular industry in the formation of cash. The mathematical models described in the literature do not allow to take into account industry characteristics in the formation of funds. The proposed methodology by authors allows to predict cash amounts based on business company. The balance of cash flows is provided by the budgeting system. The company’s the released money can send funds for investment purposes. Effectiveness of confirmed by practical testing methodology on the existing machine-building enterprise.

  2. Corporate Governance, Cash Holdings, and Firm Value: Evidence from Japan

    OpenAIRE

    Qi Luo; Toyohiko Hachiya

    2005-01-01

    This paper presents evidence on cash holdings for Japanese firms listed on the Tokyo Stock Exchange, focusing on the impact of corporate governance factors in cash holdings and the implication of cash holdings to firm value. We find that insider ownership and bank relations of firms play a significant role in determining cash holdings. Our results indicate that foreign stockholders select profitable firms to invest, and these firms have higher levels of cash. We document evidence that cash ho...

  3. Labour supply with in-work and in-kind transfers

    DEFF Research Database (Denmark)

    Bingley, Paul; Walker, Ian

    1997-01-01

    There have been a number of changes to the nature of in-work transfers over the last 20 years. Further expansions have been proposed and in-work transfer schemes have recently been promoted as a device for encouraging labour force participation and reducing the severity of the disincentives...... associated with out-of-work income support schemes. In-kind transfers have also been promoted as a way of proving poverty relief without inducing servere adverse incentive effects. Here we estimate a discrete choice labour supply model which allows for endogenous participation in multiple cash and In...... incentive effects as they expand up the hours distribution; there are economies to multiple programme participation; and Family Credit and in-kind programme participation are non-separable from labour supply. Also there is quite strong evidence of a utility loss associated with programme participation per...

  4. Managing the Cash and Liquidity of the Croatian Budget

    Directory of Open Access Journals (Sweden)

    Anto Bajo

    2005-06-01

    Full Text Available The principal proposition this paper will endeavour to maintain is that the liquidity of the budget is not fully managed by the Ministry of Finance, which is why it is unable, in collaboration with the Croatian National Bank, to rein in and slow down the growth in short-term public debt. Only since 2001, thanks to institutional improvements, have the conditions been created in the Ministry of Finance for cash and liquidity management. Thus payments operations, previously in the hands of a government institution, were taken over by the banks; the financial operations of budgetary spending agencies were channelled via the Single Account of the Treasury; and government deposits were gradually transferred from numerous commercial banks to the Single Account of the Treasury in the Croatian National Bank and the state-owned Croatian Postal Bank. Unfortunately, however, the Ministry of Finance, in collaboration with the Croatian National Bank, still carries out no operation of cash and liquidity management within the government Treasury system, nor does it operate on the money market with its surplus budgetary resources. Because of this state of affairs, management of the cash and liquidity of the central government budget is within the purview of the commercial banks.

  5. ANALYSIS AND ACCOUNTING OF TOTAL CASH FLOW

    Directory of Open Access Journals (Sweden)

    MELANIA ELENA MICULEAC

    2012-01-01

    Full Text Available In order to reach the objective of supplying some relevant information regarding the liquidity inflows and outflows during a financial exercise, the total cash flow analysis must include the analysis of result cashable from operation, of payments and receipts related to the investment and of financing decisions of the last exercise, as well as the analysis of treasury variation (of cash items. The management of total cash flows ensures the correlation of current liquidness flows as consequence of receipts with the payments ’flows, in order to provide payment continuity of mature obligations.

  6. Cash flow forecast for South African firms

    OpenAIRE

    Li, Yun; Moutinho, Luiz; Opong, Kwaku K.; Pang, Yang

    2015-01-01

    This paper applies models in the extant literature that have been used to forecast operating cash flows to predict the cash flows of South African firms listed on the Johannesburg Stock Exchange. Out-of-sample performance is examined for each model and compared between them. The reported results show that some accrual terms, i.e. depreciation and changes in inventory do not enhance cash flow prediction for the average South African firm in contrast to the reported results of studies in USA an...

  7. Programa Bolsa Família: uma análise do programa de transferência de renda brasileiro Bolsa Família (Family Grant Programme: an analysis of Brazilian income transfer programme Le programme Bolsa Família (Bourse familiale : analyse du programme brésilien de transfert conditionnel de revenus El programa Bolsa Família: un análisis del programa brasileño de transferencia de ingresos

    Directory of Open Access Journals (Sweden)

    Luciana Mourão

    2012-02-01

    Full Text Available Income transfer programmes are common in various countries and play an important role in combating poverty. This article presents a review of the results of the Bolsa Família (Family Grant Programme, implemented in Brazil by the government of Lula da Silva in 2004. Over the last seven years many evaluations of the programme have been conducted, allowing an overview of its results and its strong and weak points to be mapped. Five central aspects relating to the programme are discussed in article five: (1 programme access, (2 hunger fighting results, (3 programme financial impacts, (4 conditioning factors of education and health, (5 supplementary programs and social mobility. The results of scientific research were presented for each of these aspects, and any of these believed to be convergent or divergent were discussed. As a general result it was concluded that the programme has generated significant results for the country, but there are still some issues that need to be reviewed, such as conditioning factors and the integrated management of the programme.Les programmes de transfert de revenus sont courants dans plusieurs pays et jouent un rôle important dans la lutte contre la pauvreté. Cet article présente un examen des résultats du programme Bolsa Família (Bourse familiale entrepris au Brésil par le gouvernement de Lula da Silva en 2004. Au cours des sept dernières années, de nombreuses évaluations du programme ont été réalisées, ce qui permet d'avoir un aperçu de ses résultats et une vue d'ensemble de ses points forts et de ses points faibles. Cinq aspects clés de ce programme sont abordés dans cet article : (1 l'accès au programme, (2 les résultats en matière de lutte contre la faim, (3 les répercussions financières du programme, (4 les facteurs conditionnels de l'éducation et de la santé, (5 les programmes complémentaires et la mobilité sociale. Des résultats issus de la recherche scientifique ont été pr

  8. The marginal value of cash, cash flow sensitivities, and bank-finance shocks in nonlisted firms

    OpenAIRE

    Ostergaard, Charlotte; Sasson, Amir; Sørensen, Bent E

    2011-01-01

    We study how nonlisted firms trade off financial, real, and distributive uses of cash. We show that firms' marginal value of cash (MVC) affects the mix of external and internal finance used to absorb fluctuations in cash flows; in particular, high-MVC firms employ substantially more external finance on the margin. Linking firms to their main bank, we find that shocks to bank finance affect firms' trade-offs and have real effects in high-MVC firms, making investment more sensitiv...

  9. Stock Liquidity and Corporate Cash Holdings: Feedback and the Cash as Ammunition Hypothesis

    OpenAIRE

    Nyborg, Kjell G; Wang, Zexi

    2013-01-01

    The paper contributes to the literature on corporate cash holdings by showing that there is a financial markets channel that affects corporations’ cash holdings. Leaning on the literature on stock price feedback to firm fundamentals, we advance the hypothesis that firms with more liquid stocks hold more cash, ceteris paribus, as ammunition to defend against negative cascades or stimulate positive ones. This contrasts with an alternative view that firms with more liquid stocks are less financi...

  10. Banknotes and unattended cash transactions

    Science.gov (United States)

    Bernardini, Ronald R.

    2000-04-01

    There is a 64 billion dollar annual unattended cash transaction business in the US with 10 to 20 million daily transactions. Even small problems with the machine readability of banknotes can quickly become a major problem to the machine manufacturer and consumer. Traditional note designs incorporate overt security features for visual validation by the public. Many of these features such as fine line engraving, microprinting and watermarks are unsuitable as machine readable features in low cost note acceptors. Current machine readable features, mostly covert, were designed and implemented with the central banks in mind. These features are only usable by the banks large, high speed currency sorting and validation equipment. New note designs should consider and provide for low cost not acceptors, implementing features developed for inexpensive sensing technologies. Machine readable features are only as good as their consistency. Quality of security features as well as that of the overall printing process must be maintained to ensure reliable and secure operation of note readers. Variations in printing and of the components used to make the note are one of the major causes of poor performance in low cost note acceptors. The involvement of machine manufacturers in new currency designs will aid note producers in the design of a note that is machine friendly, helping to secure the acceptance of the note by the public as well as acting asa deterrent to fraud.

  11. Cash Advance Accounting: Accounting Regulations and Practices

    Directory of Open Access Journals (Sweden)

    Aristita Rotila

    2012-12-01

    Full Text Available It is known the fact that often the entities offer to staff or third parties certain amounts of money, in order to make payments for the entities, such sums being registered differently in the accounting as cash advances. In the case in which the advances are offered in a foreign currency, there is the problem of the exchange rate used when justifying the advance, for the conversion in lei of payments that were carried out. In this article we wanted to signal the effect that the exchange rate, used in the assessment for reflecting in the accounting operations concerning cash advance reimbursements in a foreign currency, has on the information presented in the financial statement. Therewith, we signal some aspects from the content of the accounting regulations, with reference at defining the cash advances, meaning, and the presentation in the balance sheet of cash advances, which, in our opinion, impose clarifications.

  12. Uue kunsti muuseumis laulab Johnny Cash

    Index Scriptorium Estoniae

    2010-01-01

    Pärnu uue kunsti muuseumis linastub portreefilm ameerika kantri- ja folklauljast Johnny Cashist "Johnny Cash Folsomi vanglas", mis kirjeldab 1968. a. Folsomi vanglas karistust kandnud laulja albumi "Folsom Prison Blues" lindistamist

  13. Cash flow forecast for South African firms

    Directory of Open Access Journals (Sweden)

    Yun Li

    2015-06-01

    Full Text Available This paper applies models in the extant literature that have been used to forecast operating cash flows to predict the cash flows of South African firms listed on the Johannesburg Stock Exchange. Out-of-sample performance is examined for each model and compared between them. The reported results show that some accrual terms, i.e. depreciation and changes in inventory do not enhance cash flow prediction for the average South African firm in contrast to the reported results of studies in USA and Australia. Inclusion of more explanatory variables does not necessarily improve the models, according to the out-of-sample results. The paper proposes the application of moving average model in panel data, and vector regressive model for multi-period-ahead prediction of cash flows for South Africa firms.

  14. 47 CFR 36.182 - Cash working capital.

    Science.gov (United States)

    2010-10-01

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

  15. Governance mechanisms, investment opportunity set and SMEs cash holdings

    OpenAIRE

    Belghitar, Yacine; Khan, James

    2013-01-01

    This study analyses the effect of firm characteristics and governance mechanisms on cash holdings for a sample of UK SMEs. The results show that UK SMEs with greater cash flow volatility and institutional investors hold more cash; whereas levered and dividend paying SMEs with non-executive ownership hold less cash. We also find that ownership structure is significant only in explaining the cash holdings for firms with high growth investment opportunities, and leverage is only significant in e...

  16. Developing the Model for Optimal Learning and Transfer (MOLT) Following an Evaluation of Outdoor Groupwork Skills Programmes

    Science.gov (United States)

    Cooley, Sam Joseph; Cumming, Jennifer; Holland, Mark J. G.; Burns, Victoria E.

    2015-01-01

    Purpose: This paper aims to evaluate the perceived efficacy of outdoor groupwork skills programmes for the undergraduate and postgraduate students, and the factors that influence its success. It also illustrates the use of Kirkpatrick's (1994) 4-level model of training evaluation as a framework for qualitative investigation of learning and…

  17. Cash flows: The Gap Between Reported and Estimated Operating Cash Flow Elements

    Directory of Open Access Journals (Sweden)

    Mark Hughes

    2010-03-01

    Full Text Available The FASB and the IASB recently released a joint Discussion Paper “Preliminary Views on FinancialStatement Presentation” (International Accounting Standards Board 2008, which contains a major proposalrequiring companies to report operating cash flows using the direct method and it also requires that theindirect method of calculating operating cash flows be disclosed in the notes. This is a departure from currentrules and has generated considerable debate among respondents’ comment letters on the Discussion Paper.This paper adds to this debate by providing some evidence as to the size of the gap users confront when usingthe indirect method to estimate the major operating cash flow elements, such as cash collected fromcustomers and cash paid to suppliers. Using a sample of Australian companies which reported operating cashflows using the direct method, and presented the indirect method in the notes, we find significant differencesbetween reported and estimated figures for both cash collected from customers and cash paid to suppliers.These findings support the discussion paper’s proposal that companies be required to report cash flows usingboth the direct and indirect methods.

  18. PENGARUH MODIFIED AUDIT OPINION TERHADAP BORROWING CASH FLOW DAN INVESTMENT CASH FLOW

    Directory of Open Access Journals (Sweden)

    Puspita Hardina Cahyaningrum

    2013-06-01

    Full Text Available This study examines and analyzes the economic consequences of modified audit opinion on borrowing cash flow and investment cash flow. Panel data model was used to observe the research. The sample of this study was 247 companies listed in Indonesia Stock Exchange for the years 2008-2010. The results show that modified audit opinion, except unqualified opinion with explanatory paragraph about going concern, did not affect borrowing cash flow because audit opinion was not the only consideration for granting credit by creditors. Companies receiving modified audit opinion were proven using more operating cash flow for investing shown in investment cash flow, especially companies receiving unqualified opinion with explanatory paragraph about going concern.

  19. Transfer

    DEFF Research Database (Denmark)

    Wahlgren, Bjarne; Aarkrog, Vibe

    Bogen er den første samlede indføring i transfer på dansk. Transfer kan anvendes som praksis-filosofikum. Den giver en systematisk indsigt til den studerende, der spørger: Hvordan kan teoretisk viden bruges til at reflektere over handlinger i situationer, der passer til min fremtidige arbejdsplads?...

  20. Development of cash management products in Serbia and impact on the profitability of banks

    Directory of Open Access Journals (Sweden)

    Barjaktarović Lidija

    2014-01-01

    Full Text Available Cash management products are in the function of promotion of the company's business, i.e. of liquidity management. The objective of this work is to determine the level of development of the Cash Management products in Serbia and their impact on the profitability and cost optimisation of a bank. Domestic banks established with foreign capital, primarily from Austria and Italy, were the first to introduce the initial contemporary Cash Management Products by the end of 2002, thanks to the development of electronic banking and relocation of the domestic payment transfers into the business banks. In addition, the analysis will show that banks with a clear focus on cooperation with the corporate clients are continuously developing this group of products in Serbia (Raiffeisen Bank, UniCredit Bank, Banca Intesa, Erste Bank. The research covers parallel presentation of development of the Cash Management products both of the domestic banks and their head offices abroad by the end of the year 2009 and the year 2012. The results of conducted research point out at the fact that the domestic banks established with the Italian capital (Banca Intesa and UniCredit Bank have taken over the leading role in the introduction of the new and more modern Cash Management products thanks to the good sector of information technology that is present in Serbia.

  1. Self-transfer and mortality amongst adults lost to follow-up in ART programmes in low- and middle-income countries: systematic review and meta-analysis.

    Science.gov (United States)

    Wilkinson, Lynne S; Skordis-Worrall, Jolene; Ajose, Olawale; Ford, Nathan

    2015-03-01

    To ascertain estimates of adult patients, recorded as lost to follow-up (LTFU) within antiretroviral treatment (ART) programmes, who have self-transferred care, died or truly stopped ART in low- and middle-income countries. PubMed, EMBASE, Web of Science, Science Direct, LILACS, IndMed and AIM databases (2003-2013) and IAS/AIDS conference abstracts (2011-2013) were searched for tracing studies reporting the proportion of traced patients found to have self-transferred, died or stopped ART. These estimates were then combined using random-effects meta-analysis. Risk of bias was assessed through subgroup and sensitivity analyses. Twenty eight studies were eligible for inclusion, reporting true outcomes for 10,806 traced patients attending approximately 258 ART facilities. None were from outside sub-Saharan Africa. Twenty three studies reported 4.5-54.4% traced LTFU patients self-transferring care, providing a pooled estimate of 18.6% (95% CI 15.8-22.0%). A significant positive association was found between rates of self-transfer and LTFU in the ART cohort. The pooled estimates for unreported deaths were 38.8% (95% CI 30.8-46.8%; 27 studies) and 28.6% (95% CI 21.9-36.0%; 20 studies) for patients stopping ART. A significant decrease in unreported deaths from 50.0% (95% CI 41.5-58.4%) to 30.0% (95% CI 21.1-38.9%) was found comparing study periods before and after 31 December 2007. Substantial unaccounted for transfers and deaths amongst patients LTFU confirms that retention and mortality is underestimated where the true outcomes of LTFU patients are not ascertained. © 2014 The Authors. Tropical Medicine & International Health Published by John Wiley & Sons Ltd.

  2. The FASB explores accounting for future cash flows.

    Science.gov (United States)

    Luecke, R W; Meeting, D T

    2001-03-01

    The FASB's Statement of Financial Accounting Concepts No. 7, Using Cash Flow Information and Present Value in Accounting Measurements (Statement No. 7), presents the board's views regarding how cash-flow information and present values should be used in accounting for future cash flows when information on fair values is not available. Statement No. 7 presents new concepts regarding how an asset's present value should be calculated and when the interest method of allocation should be used. The FASB proposes a present-value method that takes into account the degree of uncertainty associated with future cash flows among different assets and liabilities. The FASB also suggests that rather than use estimated cash flows (in which a single set of cash flows and a single interest rate is used to reflect the risk associated with an asset or liability), accountants should use expected cash flows (in which all expectations about possible cash flows are used) in calculating present values.

  3. Predictability of Returns and Cash Flows

    OpenAIRE

    Ralph S.J. Koijen; Stijn Van Nieuwerburgh

    2010-01-01

    We review the literature on return and cash-flow growth predictability from the perspective of the present-value identity. We focus predominantly on recent work. Our emphasis is on U.S. aggregate stock return predictability, but we also discuss evidence from other asset classes and countries.

  4. Why Cash "Doesn't" Motivate...

    Science.gov (United States)

    Freifeld, Lorri

    2011-01-01

    If money is the root of all evil, is it also the root of all motivation? When talking about workplace performance and training, the experts' consensus is a resounding "No." This article discusses why cash doesn't motivate everyone all the time when it comes to workplace performance and training and takes a look at what does.

  5. The analysis of exergy and cash flow

    International Nuclear Information System (INIS)

    Weimin, H.

    1989-01-01

    The paper presents the analysis of the economic content of exergy parameter and the thermodynamical analogy of the analysis of cash flow, and gives out the reasonable foundations of the analysis of heat economy. The thoughts of optimum design of the combination of heat economic analysis and investment policy are also put forward

  6. Cash Management Yields Many Maximum Returns.

    Science.gov (United States)

    Traynham, William W., Jr

    1987-01-01

    Outlines the cash management program developed by the Orangeburg School District (SC) for the district's funds. They take bids from banks before deciding which bank to use for all their services, including an investment program. This new system has saved $30,000 in the first year. Sidebars tell how to shop for bank services and list technical…

  7. Cash Management Program Reaps Financial Rewards.

    Science.gov (United States)

    Saylor, Joan Nesenkar

    1984-01-01

    Basic components of a New Jersey district's profitable cash management program include consolidating funds using a negotiated bank agreement, a short term investment policy, accurate flowcharts for precise planning, and revenue and expenditure analysis. Data collection and analysis and the alternative of using a bank service agreement are…

  8. Project Evaluation and Cash Flow Forecasting by Stochastic Simulation

    Directory of Open Access Journals (Sweden)

    Odd A. Asbjørnsen

    1983-10-01

    Full Text Available The net present value of a discounted cash flow is used to evaluate projects. It is shown that the LaPlace transform of the cash flow time function is particularly useful when the cash flow profiles may be approximately described by ordinary linear differential equations in time. However, real cash flows are stochastic variables due to the stochastic nature of the disturbances during production.

  9. Intangible Capital and Corporate Cash Holdings: Theory and Evidence

    OpenAIRE

    Dalida Kadyrzhanova; Antonio Falato; Jae Sim

    2012-01-01

    The rise in intangible capital is a fundamental driver of the secular trend in US corporate cash holdings over the last decades. We construct a new measure of intangible capital and show that intangible capital is the most important firm-level determinant of corporate cash holdings. Our measure accounts for almost as much of the secular increase in cash since the 1980s as all other standard determinants together. We then develop a new model of corporate cash holdings that introduces intangibl...

  10. Heads of household programme in Argentina: a human rights-based policy?

    Science.gov (United States)

    Colina, Jorge; Giordano, Osvaldo; Torres, Alejandra; Cárdenas, Marcelo

    2009-01-01

    This study analyses the consultative councils (CC) of the Argentinian conditional cash transfer heads of household programme as an institutional innovation directed to put into practice some of the principles of the human rights' approach for eradicating poverty. Since the main responsibilities assigned to the CCs coincided with some of the main principles of the human rights' approach, the research is focused on how CCs responded in practice. Using a case study methodology we show that even when, in theory, the CCs incorporate some of the principles of the human rights' approach to the programme, they deviated from this purpose due to a persistent phenomenon in the social policy arena in developing countries: political clientelism. Policy recommendations are formulated in order to deal with clientelism in the framework of the human rights' approach.

  11. TRANSFER

    African Journals Online (AJOL)

    This paper reports on further studies on long range energy transfer between curcumine as donor and another thiazine dye, thionine, which is closely related to methylene blue as energy harvester (Figure 1). Since thionine is known to have a higher quantum yield of singlet oxygen sensitization than methylene blue [8], it is ...

  12. Cash Conversion Cycle, Cash Management and Profitability: An Empirical Study on the ISE Traded Companies

    OpenAIRE

    Tulay Yucel; Gulizar Kurt

    2002-01-01

    This paper investigates the relationship of cash conversion cycle, a tool in working capital management, with profitability, liquidity and debt structure. The data covering the period of 1995-2000, of 167 firms whose stocks are listed on the Istanbul Stock Exchange (ISE). The cash conversion cycle, profitability, liquidity and debt structure were examined comparatively in this study on the basis of period, industry and firm size. It was examined that the relationships of these variables and t...

  13. How much cash does your company need?

    Science.gov (United States)

    Passov, Richard

    2003-11-01

    In late 2001, the directors of Pfizer asked that very question. And with good reason. After its 2000 merger with rival Warner-Lambert, the New York-based pharmaceutical giant found itself sitting on a net cash position of $8 billion, which seemed extraordinarily conservative for a company whose products generated $30 billion in revenues. Most large companies with revenues that healthy would increase leverage, thereby unlocking tremendous value for shareholders. But knowledge-intensive companies like Pfizer, this author argues, are in a class apart. Because their largely intangible assets (like R&D) are highly volatile and cannot easily be valued, they are more vulnerable to financial distress than are firms with a preponderance of tangible assets. To insure against that risk, they need to maintain large positive cash balances. These companies' decisions to run large cash balances is one of the key reasons their shares sustain consistent premiums. Only by investing in their intangible assets can knowledge-based companies hope to preserve the value of those assets. A company that finds itself unable to do so because unfavorable market conditions reduce its operating cash flows will see its share price suffer almost as much as if it were to default on its debts. By the same token, with the right balance sheet, knowledge companies can profitably insure against the risk of failing to sustain value-added investments in difficult times. An optimal capital structure that calls for significant cash balances is certainly at odds with the results of a traditional capital structure analysis, the author demonstrates, but it explains the financial policies of many well-run companies, from Pfizer to Intel to ChevronTexaco.

  14. 18 CFR 154.306 - Cash working capital.

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Cash working capital... Changes § 154.306 Cash working capital. A natural gas company that files a tariff change under this part may not receive a cash working capital adjustment to its rate base unless the company or other...

  15. 40 CFR 35.3160 - Cash draw rules.

    Science.gov (United States)

    2010-07-01

    ... refinancing or purchase of the local debt. Cash draws for incurred building costs will generally be treated as refinanced costs. (2) The State may immediately draw cash for up to five percent of each fiscal year's... actual construction cost. In the latter case, the amount of the cash draw would be the actual...

  16. 48 CFR 232.072-3 - Cash flow forecasts.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Cash flow forecasts. 232..., DEPARTMENT OF DEFENSE GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING 232.072-3 Cash flow forecasts. (a... contractor to submit a cash flow forecast covering the duration of the contract. (b) A contractor's inability...

  17. Developing a planning model to estimate future cash flows.

    Science.gov (United States)

    Barenbaum, L; Monahan, T F

    1988-03-01

    Financial managers are discovering that net income and other traditional measures of cash flow may not provide them with the flexibility needed for comprehensive internal planning and control. By using a discretionary cash flow model, financial managers have a forecasting tool that can help them measure anticipated cash flows, and make better decisions concerning financing alternatives, capital expansion, and performance appraisal.

  18. 18 CFR 357.5 - Cash management programs.

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Cash management...: CARRIERS SUBJECT TO PART I OF THE INTERSTATE COMMERCE ACT § 357.5 Cash management programs. Oil pipeline... and § 357.2 of this title that participate in cash management programs must file these agreements with...

  19. Title IV Cash Management Life Cycle Training. Participant's Guide.

    Science.gov (United States)

    Department of Education, Washington, DC.

    This participant's guide includes: "Introduction: Welcome to Cash Management Life Cycle Training"; "Module 1: Review of Cash Management Principles" (cash management overview and activity); "Module 2: Common Origination and Disbursement (COD) System Overview" (e.g., full participants and phase-in participants, COD…

  20. 18 CFR 260.400 - Cash management programs.

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Cash management... Cash management programs. Natural gas companies subject to the provisions of the Commission's Uniform... management programs must file these agreements with the Commission. The documentation establishing the cash...

  1. 18 CFR 141.500 - Cash management programs.

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Cash management... OF 1978 STATEMENTS AND REPORTS (SCHEDULES) § 141.500 Cash management programs. Public utilities and... and § 141.1 or § 141.2 of this title that participate in cash management programs must file these...

  2. Programa Bolsa Família e segurança alimentar e nutricional no Brasil: revisão crítica da literatura The Bolsa Família cash transfer program and food and nutrition security in Brazil: a critical review of the literature

    Directory of Open Access Journals (Sweden)

    Rosângela Minardi Mitre Cotta

    2013-01-01

    Full Text Available OBJETIVO: Revisar criticamente os estudos que avaliaram os impactos do Programa Bolsa Família (PBF na promoção da segurança alimentar e nutricional no Brasil. MÉTODOS: Foram consultadas as bases de dados Biblioteca Cochrane, LILACS, Medline e SciELO, bem como os portais de organizações públicas. Foram selecionados os estudos que utilizaram dados primários e excluídos estudos baseados em dados secundários, artigos de revisão, estudos que não permitiram estabelecer uma associação entre PBF e segurança alimentar e nutricional, bem como os estudos que avaliaram a segurança do alimento no que se refere apenas à qualidade sanitária. RESULTADOS Foram selecionados 10 estudos, dos quais cinco concluíram que o PBF teve um impacto positivo na segurança alimentar e nutricional das famílias beneficiárias. Entretanto, três estudos constataram um aumento do consumo de alimentos de maior densidade calórica e baixo valor nutritivo. Essa mudança no hábito alimentar é um fator de risco para o desenvolvimento do sobrepeso, obesidade e das doenças crônicas não transmissíveis. CONCLUSÕES: A garantia de segurança alimentar e nutricional exige programas que contemplem tanto o combate à desnutrição quanto ao sobrepeso e à obesidade. Programas de distribuição de renda, como o PBF, podem contribuir mais efetivamente para o bem-estar nutricional dos beneficiários quando combinados com outros tipos de intervenções, como ações de promoção de alimentação saudável.OBJECTIVE: To critically review studies evaluating the impact of Bolsa Família (PBF, a federal cash transfer program, for food and nutrition security in Brazil. METHODS: The Cochrane Library, LILACS, Medline and SciELO databases were searched, as well as public organization websites. All studies based on primary data were selected. The following were excluded: studies using secondary data, review articles, studies that did now allow the establishment of associations

  3. The Effect of Corporate Tax Avoidance on the Level of Corporate Cash Holdings: Evidence from Indonesian Public Listed Companies

    Directory of Open Access Journals (Sweden)

    Muhammad Irham Kurniawan

    2017-12-01

    Full Text Available This study aims to examine the effect of corporate tax avoidance to the corporate cash holdings. Recent tax avoidance research found that tax avoidance is able to facilitate managerial rent extraction in the form of transfer of resources owned by the company. This study attempts to test how the relationship of tax avoidance with the amount of cash held by the company. The sample consists of 46 non-financial, non-property, non-real estate and non-construction companies from 2009-2016, with a total 368 observations. The study uses two different cash holdings measures to test the robustness of the research results. This study cannot find evidence that tax avoidance have a significant relationship to the level of cash holdings in public companies in Indonesia. Both measurements of cash holdings gave the same conclusions to the results of the study. This study provides an insight that agency theory in the context of tax avoidance and corporate cash holdings in developing countries such as Indonesia needs to be explored further as the agency conflict in Indonesia as a developing country is more principal-principal conflicts.

  4. Prudency reviews, cash management issues emerge

    International Nuclear Information System (INIS)

    Anon.

    1985-01-01

    Utility management is paying increasing attention to the broadening of regulatory commission prudency reviews to cover operating generating plants as well as those under construction. Utilities can expect a prudency review after a major outage, and should investigate the possibility for legal action against a third party or be prepared to defend itself. The Shoreham nuclear plant serves as a warning to utilities of the need for on-going documentation of cost-benefit analyses conducted during the construction period. Utility managers should demand a prudency standard from their regulators, and minority owners in large projects should make independent prudency findings. There is also a growing need for utilities to develop intelligent strategies for handling excess cash. Methods for handling cash flow include the financial investment, grid refurbishment, dividend payout, decapitalization, and diversification

  5. SOFTWARE SOLUTIONS FOR MEASURING AND FORECASTING THE CASH GENERATING UNIT FLOWS RELATED TO INTANGIBLE ASSETS

    Directory of Open Access Journals (Sweden)

    Veronica R GROSU

    2016-08-01

    Full Text Available In light of the difficulties encountered in assessing the value of the CGU (Cash Generating Unit and of the cash flows associated with goodwill or other intangible assets of a company and after performing the impairment test as provided by the IAS 36-Intangibile Asset and the forecasts related to it, the aim of this paper is to identify and suggest software instruments that would assist in the measurement and forecasting of these elements. The employment of the SPSS and the NeuroShell programmes in analyzing and forecasting the changes in CGU and CGU flows has helped compare the results and the ensuing error margins, thus giving the business entity the possibility to select the best software option, depending on certain variables identified on a micro or a macroeconomic level that may affect the depreciation or the increases in value of the underlying assets for CGU or CGU flows.

  6. Study of the transfer of tritium in food chains. Part of a coordinated programme on the cycling of tritium and other radionuclides of global character in different types of ecosystems

    International Nuclear Information System (INIS)

    Kirchmann, R.

    1977-07-01

    The different transfer mechanisms of tritium discharged from nuclear facilities in vapour or liquid form are discussed for air, fresh water, sea water, and from plants to animals. The impact of these on the population are considered. The author describes his own results within the framework of the coordinated research programmes sponsored by the IAEA

  7. Cash Transfers to Increase Antenatal Care Utilization in Kisoro ...

    African Journals Online (AJOL)

    AJRH Managing Editor

    For example, in Mexico's. Oportunidades ... access to care issues. Moreover, even less ... Our two outcomes of interest were: 1) receipt of three or more ..... Social Science &. Medicine ... Population and Housing Census: Kisoro District. Report.

  8. Assessing the Impact of Cash Transfer Programs on Women's ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    ... many African countries as a leading social protection initiative aimed at addressing ... In Tanzania, the Tanzania Social Action Fund provides financial support to poor ... Conditions attached to the funds include sending children to school and ...

  9. Technology Transfer Programme In Reactor Digital Instrumentation And Control System (REDICS) Project: Knowledge, Experiences And Future Expectations

    International Nuclear Information System (INIS)

    Nurfarhana Ayuni Joha; Mohamad Puad Abu; Izhar Abu Hussin; Ridzuan Abdul Mutalib; Zareen Khan Abdul Jalil Khan; Mohd Khairulezwan Abdul Manan; Mohd Sabri Minhat; Mohd Idris Taib

    2013-01-01

    The PUSPATI TRIGA MARK II research reactor in Malaysia was commissioned in 1982. After 31 years of operation, Nuclear Malaysia is taking an approach for a better research and development in nuclear radiations as well as the technical services that provided. Reactor TRIGA PUSPATI (RTP) is currently upgrading its control console from analogue to digital system. The Reactor Digital Instrumentation and Control System (ReDICS) project is done on cooperation with Korea Atomic Energy Research Institute (KAERI), Korea including the technical part from the design stage until commissioning as well as the Technology Transfer Program (TTP). TTP in this ReDICS project is a part of Human Resource and System Development Program. It was carried out from the design stage until the commissioning of the system. It covers all subjects related to the design on the digital system and the requirements for the operation of RTP. The objective of this paper is to share the knowledge and experiences gained through this ReDICS project. This paper will also discuss the future expectations from this ReDICS project for Nuclear Malaysia and its personnel, as well as to the country. (author)

  10. ChargeOut! : determining machine and capital equipment charge-out rates using discounted cash-flow analysis

    Science.gov (United States)

    E.M. (Ted) Bilek

    2007-01-01

    The model ChargeOut! was developed to determine charge-out rates or rates of return for machines and capital equipment. This paper introduces a costing methodology and applies it to a piece of capital equipment. Although designed for the forest industry, the methodology is readily transferable to other sectors. Based on discounted cash-flow analysis, ChargeOut!...

  11. Equivalence of ten different methods for valuing companies by cash flow discounting.

    OpenAIRE

    Fernandez, Pablo

    2003-01-01

    This paper shows that ten methods of company valuation using cash flow discounting (WACC; equity cash flow; capital cash flow; adjusted present value; residual income; EVA; business's risk-adjusted equity cash flow; business's risk-adjusted free cash flow; risk-free-adjusted equity cash flow; and risk-free-adjusted free cash flow) always give the same value when identical assumptions are used. This result is logical, since all the methods analyze the same reality based upon the same assumptio...

  12. An investigation on how to estimate future cash flows: Evidence from Tehran Stock Exchange

    OpenAIRE

    Roghayeh Ahmdi Panah Banad Koki; Iman Jokar

    2014-01-01

    This paper presents an empirical investigation to predict future cash flows using present cash flow and accruals using the information of 96 selected firms listed on Tehran Stock Exchange over the period 2007-2011. The proposed study uses linear regression techniques to forecast future cash flow and the results indicate that cash flow and accruals together could provide more power to forecast cash flow. In addition, accrual provides future cash flow better than cash flow. The survey also perf...

  13. Cash Flow Forecasting : Proposal for New Long-Term Cash Flow Forecast in the Case Company

    OpenAIRE

    Pitkänen, Annika

    2016-01-01

    The purpose of this study was to develop a cash flow forecast model for the case company. The case company in this thesis was a Finnish building construction company. The group controlling set a target to improve the corporate treasury’s current long-term cash flow forecast because it was inaccurate and it often had outstanding deficiencies between actual and forecasted figures. A project team was set up to investigate on this issue and this research and development project is documented in t...

  14. Bargeld als elementarer Bestand einer freiheitlichen Gesellschaftordnung. Cash as an elementary component of liberal social order

    Directory of Open Access Journals (Sweden)

    Manfred O.E. Hennies

    2016-08-01

    Full Text Available Since state institutions began using account screening, in the bank sector, not only in cases of suspicion, but as a standard procedure for monitoring account and invest-ment data, much of the illegal transfer of funds has shifted towards cash payments. In order to hinder, or even do away with such illegal monetary transactions, the EU is considering two possible courses of action; one moderate and one more radical. The moderate solution would see the introduction of legislation restricting the amount of cash used in payments. Several countries already have such legislation. It is possible that this limit could be adjusted by governments ad hoc, and could even be set at zero. This would be the radical course of action; doing away completely with cash payments. The consequence would be that the transfer of money would only be possible by bank transfer from account to account. Representatives of the banking sector are in favour of the campaign to eliminate the use of cash transactions, as this would lead to advantages within the banking indus-try. However, there would be many disadvantages for the general public. In the world of commerce, contractual liberty is a fundamental principle. All contracting parties have the right, within the law, to negotiate the terms of a contract to be signed, laying down goods or payment (cash included to be made, as a part of the contract. Thus, legislation restricting the use of cash would be a breach of the free-dom of rights as laid down in the constitution of any EU country. The question as to whether or not to do away with the use of 500, - Euro bank notes is of little interest to legal and private monetary transactions, as these are seldom used in such cases. Since these notes are a simple way of transporting large sums of money unnoticed, their use is mainly limited to the world of illegal transactions where large sums of money need to be moved, as in the case of money laundering

  15. Impact evaluation of different cash-based intervention modalities on child and maternal nutritional status in Sindh Province, Pakistan, at 6 mo and at 1 y: A cluster randomised controlled trial.

    Directory of Open Access Journals (Sweden)

    Bridget Fenn

    2017-05-01

    Full Text Available Cash-based interventions (CBIs, offer an interesting opportunity to prevent increases in wasting in humanitarian aid settings. However, questions remain as to the impact of CBIs on nutritional status and, therefore, how to incorporate them into emergency programmes to maximise their success in terms of improved nutritional outcomes. This study evaluated the effects of three different CBI modalities on nutritional outcomes in children under 5 y of age at 6 mo and at 1 y.We conducted a four-arm parallel longitudinal cluster randomised controlled trial in 114 villages in Dadu District, Pakistan. The study included poor and very poor households (n = 2,496 with one or more children aged 6-48 mo (n = 3,584 at baseline. All four arms had equal access to an Action Against Hunger-supported programme. The three intervention arms were as follows: standard cash (SC, a cash transfer of 1,500 Pakistani rupees (PKR (approximately US$14; 1 PKR = US$0.009543; double cash (DC, a cash transfer of 3,000 PKR; or a fresh food voucher (FFV of 1,500 PKR; the cash or voucher amount was given every month over six consecutive months. The control group (CG received no specific cash-related interventions. The median total household income for the study sample was 8,075 PKR (approximately US$77 at baseline. We hypothesized that, compared to the CG in each case, FFVs would be more effective than SC, and that DC would be more effective than SC-both at 6 mo and at 1 y-for reducing the risk of child wasting. Primary outcomes of interest were prevalence of being wasted (weight-for-height z-score [WHZ] < -2 and mean WHZ at 6 mo and at 1 y. The odds of a child being wasted were significantly lower in the DC arm after 6 mo (odds ratio [OR] = 0.52; 95% CI 0.29, 0.92; p = 0.02 compared to the CG. Mean WHZ significantly improved in both the FFV and DC arms at 6 mo (FFV: z-score = 0.16; 95% CI 0.05, 0.26; p = 0.004; DC: z-score = 0.11; 95% CI 0.00, 0.21; p = 0.05 compared to the CG

  16. Financial Development and Investment-Cash Flow Sensitivity

    Directory of Open Access Journals (Sweden)

    Jungwon Suh

    2007-06-01

    Full Text Available Using firm-level data from thirty-five countries around the world, this paper empirically examines whether investment-cash flow sensitivity reflects financial constraints. Recent US studies have raised questions on the prediction that investment-cash flow sensitivity is a measure of financial constraints. Looking at thirty-five countries with varying degrees of financial development, this study tests whether investment-cash flow sensitivity is in fact related to financial constraints. In most countries, the evidence supporting the argument that firms likely facing financially constraints display high investment-cash flow sensitivity is weak. Moreover, the evidence that firms in the absence of developed financial markets display high investment-cash flow sensitivity is also weak. Overall, the results from this international investigation do not support the prediction that investment-cash flow sensitivity reflects financial constraints.

  17. Cash Holdings Policy: a Dynamic Analysis of Brazilian Companies

    Directory of Open Access Journals (Sweden)

    Fadwa Muhieddine Dahrouge

    2013-09-01

    Full Text Available This paper investigates how corporate cash holdings were adjusted over time for Brazilian companies during the crisis of 2008-2009. We adopt a dynamic model of corporate cash holdings to evaluate the main determinants for the speed of adjustment of cash holdings at the optimum level. We find evidence that: a the adjustment costs of Brazilian companies are high implying a delay in reaching the optimum level of cash; b the low speed adjustment to the optimum level is due to the limited availability of credit and the high cost of bank debt; c during crisis, the changes in working capital are positively related to the level of cash holdings providing evidence that companies prefer finance to growth with liquidity; d companies have looked for long-term financing to secure liquidity rather than investing on fixed assets, implying a negative relationship between investment and cash holding.

  18. Cash in the Czech Republic: Trend Analysis 2003–2015

    OpenAIRE

    Zbyněk Revenda

    2017-01-01

    Electronization of banking services is a  strong reason for relative growth of cashless payments. The importance of cash, i.e., banknotes and coins, for realizing transactions should decrease. An analysis for the Czech Republic in the period 2003–2015 confirms this. Demand of nonbank entities for cash is associated mainly with liquidity, banks’ credibility and technological sophistication. Illegal transactions also form part of the demand. Zero return on cash counteracts demand, but it has li...

  19. THE STATEMENT OF CASH FLOWS USING FINANCIAL STATEMENT EQUATIONS

    OpenAIRE

    Harold Fletcher; Thomas Ulrich

    2010-01-01

    This paper addresses one of the more difficult topics in teaching MBA level financial management, the statement of cash flows. By employing financial statement equations in preparing the statement of cash flows, students: (1) are employing tools that they are more familiar and comfortable with which mitigates their anxiety and enhances their understanding, (2) are better able to understand the logic of the statement of cash flows and the relationships that exist between it and the income stat...

  20. Something for Nothing: Cash Flow as a Contract Incentive

    Science.gov (United States)

    2016-03-01

    mented, delays our ability to recover a significant amount of costs incurred on a contract and thus affects the timing of our cash flows. Northrop...Defense AT&L: March-April 2016 16 Something for Nothing “ Cash Flow” as a Contract Incentive John Pritchard n John Krieger Pritchard and...The government actually has complete control over one of the strongest con-tract incentives possible— cash flow. Most important, in our fiscally

  1. Cash Advance Accounting: Accounting Regulations and Practices

    OpenAIRE

    Aristita Rotila

    2012-01-01

    It is known the fact that often the entities offer to staff or third parties certain amounts of money, in order to make payments for the entities, such sums being registered differently in the accounting as cash advances. In the case in which the advances are offered in a foreign currency, there is the problem of the exchange rate used when justifying the advance, for the conversion in lei of payments that were carried out. In this article we wanted to signal the effect that the exchange rate...

  2. Small business, cash budgets and general practice.

    Science.gov (United States)

    Jackson, A R

    1991-01-01

    In practice management, general practice falls into the category of small business with all its attendant generic problems. Disciplined planning and good financial management are not often seen in small business. These are required if general practitioners are to continue (or return to) the provision of high quality medical services. An effective budget process, especially cash-flow budgeting, is the key to successful planning and financial management. Budgeting will bring Control, Co-ordination, and Credibility to your practice. It will enable you to set goals and to achieve them.

  3. How does Cash and Counseling affect costs?

    Science.gov (United States)

    Dale, Stacy B; Brown, Randall S

    2007-02-01

    To test the effect of a consumer-directed model (Cash and Counseling) of Medicaid personal care services (PCS) or home- and community-based waiver services (HCBS) on the cost of Medicaid services. Medicaid claims data were collected for all enrollees in the Cash and Counseling demonstration. Demonstration enrollees included those eligible for PCS (in Arkansas), those assessed to receive such services (in New Jersey), and recipients of Medicaid HCBS (in Florida). Enrollment occurred from December 1998 through April 2001. The follow-up period covered up to 24 months after enrollment. Demonstration volunteers were randomly assigned to have the option to participate in Cash and Counseling (the treatment group), or to receive Medicaid services as usual from an agency (the control group). Ordinary least squares regressions were used to estimate the effect of the program on costs for Medicaid PCS/waiver services and other Medicaid services, while controlling for consumers' preenrollment characteristics and preenrollment Medicaid spending. Models were estimated separately for nonelderly and elderly adults in each state and for children in Florida. Each state supplied claims data for demonstration enrollees. Largely because the program increased consumers' ability to get the authorized amount of paid care, expenditures for personal care/waiver services were higher for the treatment group than for the control group in each state and age group, except among the elderly in Florida. Higher costs for personal care/waiver services were partially offset by savings in other Medicaid services, particularly those related to long-term care. During year 1, total Medicaid costs were generally higher for the treatment group than for the control group, with treatment-control cost differences ranging from 1 percent (and statistically insignificant) for the elderly in Florida to 17 percent for the elderly in Arkansas. In year 2, these cost differences were generally greater than in year 1

  4. Effects of Long Cycles in Cash Flows on Present Value

    OpenAIRE

    Bell, Peter N

    2015-01-01

    This paper explores how present value varies over time when the underlying cash flow has a deterministic period. I assume that cash flows are known with certainty and follow a cycle with a long or short period. When the cash flow has a short period, the present value is relatively stable over time because the present value calculation smooths out several cycles. However, when the cash flow has a long period the present value itself develops a long and large cycle. These results are driven...

  5. The Determinants and Implications of Corporate Cash Holdings

    OpenAIRE

    Tim Opler; Lee Pinkowitz; Rene Stulz; Rohan Williamson

    1997-01-01

    We examine the determinants and implications of holdings of cash and marketable" securities by publicly traded U.S. firms in the 1971-1994 period. Firms with strong growth" opportunities and riskier cash flows hold relatively high ratios of cash to total assets. Firms" that have the greatest access to the capital markets (e.g. large firms and those with credit" ratings) tend to hold lower ratios of cash to total assets. These results are consistent with the" view that firms hold liquid assets...

  6. CASH FLOWS IN ROMANIAN SMALL AND MEDIUM ENTERPRISES

    Directory of Open Access Journals (Sweden)

    GĂBAN LUCIAN

    2016-08-01

    Full Text Available Financial reporting system includes three main pillars, namely balance sheet, income statement and cash flow. If the balance sheet reflects shareholders’ wealth at a given time, income statement demonstrates the efficiency or inefficiency of the activity and cash flows measures the company’s viability. This is the reason for which I have approached the cash flow matter in this paper, reviewing the latest studies and studying in detail the evolution of cash flow ratios on small and medium enterprises in Romania for a period between 2006 and 2014, highlighting the effects of the financial crisis on these enterprises

  7. A Monte Carlo Comparison between the Free Cash Flow and Discounted Cash Flow Approaches

    OpenAIRE

    Mehari Mekonnen Akalu; Rodney Turner

    2002-01-01

    textabstractOne of the debates in the capital budgeting model selection is between the free cash flow and DCF methods. In this paper an attempt is made to compare SVA against NPV model based on Monte Carlo simulations. Accordingly, NPV is found less sensitive to value driver variations and has got higher forecast errors as compared to SVA model.

  8. A Monte Carlo Comparison between the Free Cash Flow and Discounted Cash Flow Approaches

    NARCIS (Netherlands)

    M.M. Akalu; J.R. Turner (Rodney)

    2002-01-01

    textabstractOne of the debates in the capital budgeting model selection is between the free cash flow and DCF methods. In this paper an attempt is made to compare SVA against NPV model based on Monte Carlo simulations. Accordingly, NPV is found less sensitive to value driver variations and has got

  9. Cash on Demand: A Framework for Managing a Cash Liquidity Position.

    Science.gov (United States)

    Augustine, John H.

    1995-01-01

    A well-run college or university will seek to accumulate and maintain an appropriate cash reserve or liquidity position. A rigorous analytic process for estimating the size and cost of a liquidity position, based on judgments about the institution's operating risks and opportunities, is outlined. (MSE)

  10. Raising Cash under Duress and the Role of Cash Value Life Insurance: An Educational Example

    Science.gov (United States)

    Russell, David T.; Chong, James T.; Phillips, G. Michael

    2018-01-01

    Consumers face hard choices when they need cash quickly. Hard choices can lead to emotional or economically unsound decisions. Traditional classroom discussions of raising funds to pay for expenses usually focus on generating income, borrowing, or the sale of real and financial assets, if hardship is discussed at all. However, many families have…

  11. CERN Fellows, don’t splash that cash!

    CERN Multimedia

    Anaïs Schaeffer

    2013-01-01

    When their CERN contracts expire and they leave the Organization, Fellows recoup the amounts paid into the Pension Fund by and for them every month. If they invest this money well, right from the outset, it can grow into a nice little nest-egg by the time they reach retirement age.   As employed members of the CERN personnel, Fellows are members of the Organization’s Pension Fund. Accordingly, a specific amount is withheld from their salary every month (see first box) and, as the months go by, this gradually accumulates into their transfer value (i.e. their capital). When their contracts expire, Fellows may opt to transfer that money directly into another pension fund (subject to the national laws of the destination country and, unfortunately, not possible everywhere), or take it in cash. This is because only employed members of the personnel who have at least five years of service with the Organization are entitled to remain beneficiaries of the CERN Pension Fund for life*. But the capi...

  12. 47 CFR 32.1120 - Cash and equivalents.

    Science.gov (United States)

    2010-10-01

    ..., destroyed, or otherwise disposed of is replaced, and also cash realized from the sale of the company's securities and deposited with trustees to be held until invested in physical property of the company or for...; the amount of cash deposited to insure the performance of contracts to be performed within one year...

  13. Fourteen Steps to More Effective Cash Flow Management

    Science.gov (United States)

    Neugebauer, Roger

    2004-01-01

    Managing cash flow is an incredibly important skill for a center director. Even a center with an annual budget showing a healthy surplus may experience brief periods where funds in the checkbook are insufficient to pay all the bills. To discover how successful directors manage cash flow in tight times, the author surveyed members of the "Exchange…

  14. The Cash Flow Budget. Part II--Implementation

    Science.gov (United States)

    Gehm, Rudy

    1978-01-01

    An "aged accounts payable" (A/P) summary and a cash disbursements journal are advocated as management measures useful in monitoring the cash flow in a college store. Methods for maintaining the A/P summary and for updating the journal are illustrated. (LBH)

  15. Why Cash Flow Is No Longer for Wimps

    Science.gov (United States)

    Curry, John R.; Hutton, Lyn

    2012-01-01

    Managing liquidity--a college or university's ability to access cash quickly or to easily convert assets to cash--is an increasingly crucial component of enterprise risk management. Liquidity risks lurk around nearly every corner--in the endowment portfolio, the debt portfolio, and in working-capital management. It also influences students'…

  16. 36 CFR 254.12 - Value equalization; cash equalization waiver.

    Science.gov (United States)

    2010-07-01

    ... 36 Parks, Forests, and Public Property 2 2010-07-01 2010-07-01 false Value equalization; cash... AGRICULTURE LANDOWNERSHIP ADJUSTMENTS Land Exchanges § 254.12 Value equalization; cash equalization waiver. (a..., either with or without adjustments of relative values as compensation for various costs, the parties to...

  17. A Logical Approach to the Statement of Cash Flows

    Science.gov (United States)

    Petro, Fred; Gean, Farrell

    2014-01-01

    Of the three financial statements in financial reporting, the Statement of Cash Flows (SCF) is perhaps the most challenging. The most difficult aspect of the SCF is in developing an understanding of how previous transactions are finalized in this document. The purpose of this paper is to logically explain the indirect approach of cash flow whereby…

  18. Creditor rights, country governance, and corporate cash holdings

    NARCIS (Netherlands)

    Seifert, Bruce; Gonenc, Halit

    2016-01-01

    This study examines the impact of creditor rights and country governance on cash holdings using a sample of firms from 47 countries. We hypothesize that cash holdings are smaller when both creditor rights and country governance are high. In these circumstances firms will not need to hold as much

  19. Cash in the Czech Republic: Trend Analysis 2003–2015

    Directory of Open Access Journals (Sweden)

    Zbyněk Revenda

    2017-03-01

    Full Text Available Electronization of banking services is a  strong reason for relative growth of cashless payments. The importance of cash, i.e., banknotes and coins, for realizing transactions should decrease. An analysis for the Czech Republic in the period 2003–2015 confirms this. Demand of nonbank entities for cash is associated mainly with liquidity, banks’ credibility and technological sophistication. Illegal transactions also form part of the demand. Zero return on cash counteracts demand, but it has little meaning with the decline in interest rates on bank deposits. The total stock of cash in the analyzed period rises, but its relative importance declines. Demand deposits are also liquid assets of households and enterprises. Cash compared with demand deposits clearly confirms the declining importance. Its share was the highest in 2004, at 30 %. It fell to less than 18 % in 2015. We found a similar tendency in the comparison of cash with other variables. Barring unforeseen circumstances such as complete collapse of computer networks or severe banking crisis, the author assumes that the relative importance of cash must decline in the long term. Some theoretical aspects of cash and cashless money are also discussed.

  20. The cash-flow analysis of the firm

    OpenAIRE

    Mariana Man

    2001-01-01

    The analysis of economic and financial indicators of the firm regards the profit and loss account analysis and the balance sheet analysis. The cash-flow from operating activities represents the amount of cash obtained by a firm from selling goods and services after deducting the costs involved by raw materials, materials and processenig operations

  1. Legal issues in cash balance pension plan conversions.

    Science.gov (United States)

    Forman, J B

    2001-01-01

    Replacing a traditional pension with a cash balance plan raises a number of complicated and unsettled legal issues, including the protection of accrued benefits, the rate of benefit accrual, age discrimination and notice requirements. This article discusses those issues and concludes that routine conversions to cash balance plans appear to be legal both currently and into the foreseeable future.

  2. Do Consumers Pay More Using Debit Cards than Cash

    DEFF Research Database (Denmark)

    Runnemark, Emma; Hedman, Jonas; Xiao, Xiao

    2015-01-01

    We conduct an incentivized experiment to study the effect of the payment method on spending. We find that the willingness to pay is higher when subjects pay with debit cards compared to cash. The result is robust to controlling for cash-on-hand constraints, spending type, price familiarity...

  3. Do Consumers Pay More Using Debit Cards than Cash?

    DEFF Research Database (Denmark)

    Runnemark, Emma; Hedman, Jonas; Xiao, Xiao

    We conduct an incentivized experiment to test whether the willingness to pay is higher for debit cards compared to cash for three consumer products. Our findings support this conjecture also after controlling for cash availability, spending type, price familiarity and consumption habits...

  4. 17 CFR 256.136 - Temporary cash investments.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Temporary cash investments... UTILITY HOLDING COMPANY ACT OF 1935 3. Current and Accrued Assets § 256.136 Temporary cash investments. This account shall include the cost of investments, such as demand and time loans, bankers' acceptances...

  5. Nutrition-sensitive interventions and programmes: how can they help to accelerate progress in improving maternal and child nutrition?

    Science.gov (United States)

    Ruel, Marie T; Alderman, Harold

    2013-08-10

    Acceleration of progress in nutrition will require effective, large-scale nutrition-sensitive programmes that address key underlying determinants of nutrition and enhance the coverage and effectiveness of nutrition-specific interventions. We reviewed evidence of nutritional effects of programmes in four sectors--agriculture, social safety nets, early child development, and schooling. The need for investments to boost agricultural production, keep prices low, and increase incomes is undisputable; targeted agricultural programmes can complement these investments by supporting livelihoods, enhancing access to diverse diets in poor populations, and fostering women's empowerment. However, evidence of the nutritional effect of agricultural programmes is inconclusive--except for vitamin A from biofortification of orange sweet potatoes--largely because of poor quality evaluations. Social safety nets currently provide cash or food transfers to a billion poor people and victims of shocks (eg, natural disasters). Individual studies show some effects on younger children exposed for longer durations, but weaknesses in nutrition goals and actions, and poor service quality probably explain the scarcity of overall nutritional benefits. Combined early child development and nutrition interventions show promising additive or synergistic effects on child development--and in some cases nutrition--and could lead to substantial gains in cost, efficiency, and effectiveness, but these programmes have yet to be tested at scale. Parental schooling is strongly associated with child nutrition, and the effectiveness of emerging school nutrition education programmes needs to be tested. Many of the programmes reviewed were not originally designed to improve nutrition yet have great potential to do so. Ways to enhance programme nutrition-sensitivity include: improve targeting; use conditions to stimulate participation; strengthen nutrition goals and actions; and optimise women's nutrition, time

  6. PENGARUH KUALITAS AKRUAL DAN LEVERAGE TERHADAP CASH HOLDING PERUSAHAAN

    Directory of Open Access Journals (Sweden)

    Anggita Langgeng Wijaya

    2010-12-01

    Full Text Available This research tests the effect of accrual quality and leverage on corporate cash holding for a sample of manufacturing company listed in Indonesian Stock Exchange over the period 2006-2007. This research also tests the role of asymmetric information as a mediating variable on the relation between accrual quality and cash holding. Population of this research is 197 manufacturing companies at the Indonesian Stock Exchange. This research uses the purposive sampling method. Hypothesis test of this research em­ploys multiple regression analysis and path analysis. The results show that: accrual quality does not affect asymmetric information; asymmetric information positively affects corporate cash holdings; asymmetric information is not a mediating variable on the relation between accrual quality and cash holding; leverage negatively affects corporate cash holding.

  7. Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexico

    Directory of Open Access Journals (Sweden)

    Newton Arata

    2015-05-01

    Full Text Available This research expands on previous studies of cash holdings and their determinants by studying the relationship between the degree of internationalization and the level of corporate cash holdings. We used a sample of nonfinancial, publicly traded companies from Brazil and Mexico for the period from 2006 to 2010. Our results suggest that the degree of internationalization is a determinant of cash, and that cash holding increases quadratically as the degree of company internationalization grows. Such behavior was different from the North American company studies in Chiang and Wang (2011. Similar to previous studies, both Trade-off and Pecking Order predictions are relevant control variables in our model. Finally, companies held less cash on their balance sheets during the precrisis period.

  8. Cash Management, Revenue Sources and Cost Effective Methods of Revenue Collection at Local Government Level

    OpenAIRE

    Mustapha Gimba Kumshe; Kagu Bukar

    2013-01-01

    The main objective of this paper was to focus on the elements, objectives, goals and importance of cash management; and also to examine the sources of revenue and cost effective collections for local governments. The elements of cash management are identified as establishing bank relations, preparing cash flow statements, estimating collection receipts and analyzing cash flow and preparing a budget. Amongst the objectives of cash management is to ensure availability of cash resources at all t...

  9. Valuing companies by cash flow discounting: Ten methods and nine theories

    OpenAIRE

    Fernández , Pablo

    2002-01-01

    This paper is a summarized compendium of all the methods and theories on company valuation using cash flow discounting. The paper shows the ten most commonly used methods for valuing companies by cash flow discounting: 1) free cash flow discounted at the WACC; 2) equity cash flows discounted at the required return to equity; 3) capital cash flows discounted at the WACC before tax; 4) APV (Adjusted Present Value); 5) the business's risk-adjusted free cash flows discounted at the required retur...

  10. Cash usage in the Netherlands: How much, where, when, who and whenever one wants?

    OpenAIRE

    Nicole Jonker; Anneke Kosse; Lola Hernández

    2012-01-01

    Having accurate information on cash usage is essential for monitoring the substitution process of cash by cards and for assessing the cost efficiency of the payment system. Moreover, estimates on cash usage reflect the transaction demand for cash. This is useful for central banks which are responsible for producing and issuing banknotes. The latest estimates of the number and value of cash payments made in the Netherlands date from 2007. How has cash usage developed since then? In what branch...

  11. Corporate Cash Holdings and Shareholder Risk : Investigating the relationship between corporate cash holdings and the risk of stocks listed on the Stockholm Stock Exchange

    OpenAIRE

    Olausson, Jonas; Löfgren, Christoffer

    2013-01-01

    Corporate cash holdings is a topic constantly under review, companies hoarding cash are criticized by shareholders who rather have companies using their cash for new investments or dividend payouts. Recent academic research has discovered that levels of cash holding are high in times when risk is deemed to be high and found that levels of corporate cash holdings are substantially higher than they used to, making more coverage and a better understanding of the phenomenon crucial. This thesis i...

  12. FREE CASH FLOW AS PART OF VOLUNTARY REPORTING. LITERATURE REVIEW

    Directory of Open Access Journals (Sweden)

    Negrea Laura Georgeta

    2011-12-01

    Full Text Available The present study has as main objective to reflect the state of literature regarding free cash flow, and to withdraw the main pro's and con's in order to create an objective image upon this indicator. The main idea generating this research was the growing interest on cash flow reporting. As many say, 'Cash Flow is King', while in Anglo Saxon countries the interest of investors and analysts in concentrated on operating cash flow, as the most important indicator of the probability of bankruptcy. In this context, voluntary additional reporting, like free cash flow may come either as an aid in providing the fair view or as an opportunistically reported figure. Throughout the paper, the intention was to provide answers to three main research questions: What are the definition and calculation method of free cash flow? Why is there an interest in free cash flow reporting? What is the impact of free cash flow on the agency theory? In order to provide relevant conclusions, four international data basis were used, and related articles and studies were extracted. The results proved that there is no generally accepted definition and computing method, while the format depends on the end-user of the report (shareholders, investors, analysts, bankers, a.s.o.. As stated below, this aspect generates confusion and lack of comparability, giving room to creative accounting techniques. Moreover, the interest on free cash flow reporting is connected mainly to liquidity assessment, company valuation and investors choice. Still, in the context of agency theory, results show that in presence of high free cash flow, managers tend to make investment choices that satisfy their personal interest and that generate low efficiency and profitability for the company. The contribution to current state of research is providing a literature review study, focused on a comparative approach, as well as on underlying an objective image upon a debatable financial indicator and

  13. The Impact of Trial Stage, Developer Involvement and International Transferability on Universal Social and Emotional Learning Programme Outcomes: A Meta-Analysis

    Science.gov (United States)

    Wigelsworth, M.; Lendrum, A.; Oldfield, J.; Scott, A.; ten Bokkel, I.; Tate, K.; Emery, C.

    2016-01-01

    This study expands upon the extant prior meta-analytic literature by exploring previously theorised reasons for the failure of school-based, universal social and emotional learning (SEL) programmes to produce expected results. Eighty-nine studies reporting the effects of school-based, universal SEL programmes were examined for differential effects…

  14. Reserves and cash flows under stochastic retirement

    DEFF Research Database (Denmark)

    Gad, Kamille Sofie Tågholt; Nielsen, Jeppe Woetmann

    2016-01-01

    Uncertain time of retirement and uncertain structure of retirement benefits are risk factors for life insurance companies. Nevertheless, classical life insurance models assume these are deterministic. In this paper, we include the risk from stochastic time of retirement and stochastic benefit...... structure in a classical finite-state Markov model for a life insurance contract. We include discontinuities in the distribution of the retirement time. First, we derive formulas for appropriate scaling of the benefits according to the time of retirement and discuss the link between the scaling...... and the guarantees provided. Stochastic retirement creates a need to rethink the construction of disability products for high ages and ways to handle this are discussed. We show how to calculate market reserves and how to use modified transition probabilities to calculate expected cash flows without significantly...

  15. 31 CFR 205.33 - How are funds transfers processed?

    Science.gov (United States)

    2010-07-01

    ... needed by the State and must time the disbursement to be in accord with the actual, immediate cash... funds transfers must be as close as is administratively feasible to a State's actual cash outlay for direct program costs and the proportionate share of any allowable indirect costs. States should exercise...

  16. Free Cash-Flow, Issuance Costs and Stock Price Volatility

    OpenAIRE

    Décamps, Jean-Paul; Mariotti, Thomas; Rochet, Jean-Charles; Villeneuve, Stéphane

    2008-01-01

    We study the issuance and payout policies that maximize the value of a firm facing both agency costs of free cash-flow and external financing costs. We find that the firm optimally issues equity. Equity distributes no dividends until a target cash level is reached, while new equity is issued when the firm runs out of cash. We characterize the process modelling the number of outstanding shares and the dynamics of the stock prices. In line with the leverage effect identified by Black (1976), we...

  17. Determining consumer preferences for a cash option: Arkansas survey results.

    Science.gov (United States)

    Simon-Rusinowitz, L; Mahoney, K J; Desmond, S M; Shoop, D M; Squillace, M R; Fay, R A

    1997-01-01

    As long-term care (LTC) expenditures have risen, policymakers have sought ways to control costs while maintaining consumer satisfaction. Concurrently, there is increasing interest within the aging and disability communities in consumer-directed care. The Cash and Counseling Demonstration and Evaluation (CCDE) seeks to increase consumer direction and control costs by offering a cash allowance and information services to persons with disabilities, enabling them to purchase needed assistance. The authors present results from a telephone survey conducted to assess consumer preferences for a cash option in Arkansas and describe how findings from the four-State CCDE can inform consumer information efforts and policymakers.

  18. Cash Holdings and Leverage of German Listed Firms

    DEFF Research Database (Denmark)

    Rapp, Marc Steffen; Killi, Andreas Maximilian

    2016-01-01

    We examine cash holdings and leverage levels of German listed (non-financial and non-utility) firms. We document a secular increase in cash ratios over the last twenty years (1992–2011), reducing the net debt book leverage ratio for the average sample firm close to zero. Using prediction models...... firms are associated with measures of uncertainty faced by firms. Our results suggest that German firms have increased (reduced) their cash (net debt leverage) levels over time in order to adopt more precautionary financial policies....

  19. Cash flow forecasting model for nuclear power projects

    International Nuclear Information System (INIS)

    Liu Wei; Guo Jilin

    2002-01-01

    Cash flow forecasting is very important for owners and contractors of nuclear power projects to arrange the capital and to decrease the capital cost. The factors related to contractor cash flow forecasting are analyzed and a cash flow forecasting model is presented which is suitable for both contractors and owners. The model is efficiently solved using a cost-schedule data integration scheme described. A program is developed based on the model and verified with real project data. The result indicates that the model is efficient and effective

  20. MANAGEMENT OF CASH FLOWS OF THE ENTERPRISE AND THEIR OPTIMIZATION

    Directory of Open Access Journals (Sweden)

    Natalie V. Gryzunova

    2015-01-01

    Full Text Available The purpose of this work is the analysis of structure and process of management of cash flows of the enterprise, researchof a financial position and development of recommendationsabout increase of effective management of cash fl ows. When performing work various methods of research were applied:fi nancial, coeffi cient, ekonomiсo-mathematical, etc. As a result of the analysis reserves of increase of management efficiency are revealed and models of free cash flows, the most actual for group of the considered enterprises are offered.

  1. Testing of environmental transfer models using data from the atmospheric release of Iodine-131 from the Hanford site, USA, in 1963. Report of the Dose Reconstruction Working Group of the Biosphere Modelling and Assessment (BIOMASS) Programme, Theme 2

    International Nuclear Information System (INIS)

    2003-03-01

    The IAEA Programme on BIOsphere Modelling and ASSessment (BIOMASS) was launched in Vienna in October 1996. The programme was concerned with developing and improving capabilities to predict the transfer of radionuclides in the environment. The programme had three themes: Theme 1: Radioactive Waste Disposal. The objective was to develop the concept of a standard or reference biosphere for application to the assessment of the long term safety of repositories for radioactive waste. Theme 2: Environmental Releases. BIOMASS provided an international forum for activities aimed at increasing the confidence in methods and models for the assessment of radiation exposure related to environmental releases. Two Working Groups addressed issues concerned with the reconstruction of radiation doses received by people from past releases of radionuclides to the environment and the evaluation of the efficacy of remedial measures. Theme 3: Biosphere Processes. The aim of this Theme was to improve capabilities for modelling the transfer of radionuclides in particular parts of the biosphere identified as being of potential radiological significance and where there were gaps in modelling approaches. This topic was explored using a range of methods including reviews of the literature, model inter-comparison exercises and, where possible, model testing against independent sources of data. Three Working Groups were established to examine the modelling of: (1) long term tritium dispersion in the environment; (2) radionuclide uptake by fruits; and (3) radionuclide migration and accumulation in forest ecosystems. This report describes results of the studies undertaken by the Dose Reconstruction Working Group under Theme 2

  2. CASH 2021: Commercial access and space habitation

    Science.gov (United States)

    Aldrin, Andrew; Amara, Adam; Aris, Lodewijk; Baierl, Nida; Beatty, Patrick; Beaulieu, Catherine; Behnke, Torsten; Castegini, Roberta; Chauhan, Amitabh; Cojanis, Philip; Dayawansa, Pelawa; Diop, Marie; Eito, Kinya; Engle, Steve; Ferretti, Stefano; Gassama, Hamet; Genova, Bojana; Goulding, Colin; Janjua, Jameel; Jansaeng, Thidarat; Jousset, Frédéric; Kopik, Anatoly; Laurin, Catherine; Leggatt, Jason; Li, Hengnian; Mezzadri, Monica; Miura, Amane; Nolet, Simon; Ogami, Satoshi; Patry, Johanne; Patten, Laryssa; Payerne, Cyril; Peer, Guy; Prampolini, Marco; Rheaume, Caroline; Saary, Joan; Spehar, Daniela; Sufi, Atiya; Sun, Baosheng; Thompson, J. Barry; Thomson, Ward; Trautner, Roland; Tursunmuratov, Murat; Venet, Vrata; Wilems, Elizabeth; Wilson, Helen; Wittwer, Karl; Wokke, Frank; Wu, Yansheng; Zhou, Shaobin; Zilioli, Ilaria

    2002-07-01

    Issues about commercialization of space have been a growing concern in the past decade for the space community. This paper focuses on the work from a team of 51 students attending the Summer Session Program of the International Space University in Bremen, Germany. CASH 2021 (Commercial Access and Space Habitation) documents a plan that identifies commercial opportunities for space utilization that will extend human presence in space, and will chart the way forward for the next 20 years. The group selected four commercial sectors that show the most promise for the future: tourism, entertainment, space system service, assembly and debris removal, and research and development/production. The content of this document presents the results of their research. Historical activities in each of the commercial sectors are reviewed along with the current market situation. To provide a coherent background for future commercialization possibilities a scenario has been developed. This scenario includes a postulated upon ideal future and includes social, political and economic factors that may affect the space industry over the timeline of the study. The study also presents a roadmap, within the limited optimistic scenario developed, for the successful commercialization of space leading to future human presence in space. A broad range of commercially viable opportunities, not only within the current limits of the International Space Station, but also among the many new developments that are expected by 2021 are discussed.

  3. Hazards of the 'hard cash': hypersensitivity pneumonitis.

    Science.gov (United States)

    Kupeli, Elif; Karnak, Demet; Sak, Serpil Dizbay; Kayacan, Oya

    2010-01-01

    Hypersensitivity pneumonitis (HP) is a nonimmunoglobulin E-related immune-mediated parenchymal lung disease. A 45-year-old woman who was a lifelong nonsmoker with a six-month history of frequent episodes of cough and dyspnea was admitted to hospital. She had been working as a money counter for 20 years at a central bank. Bibasilar crackles on lung auscultation, ground-glass opacities and a mosaic pattern on high-resolution computed tomography, restrictive abnormality on pulmonary function tests and mild hypoxemia were the prominent findings. Bronchoalveolar lavage fluid analysis revealed a predominance of CD4-positive T cells, and she tested positive on her natural challenge test. She was diagnosed with subacute HP based on established criteria. She was advised to discontinue counting fresh banknotes. Prednisolone was commenced, then tapered to discontinue in the ensuing six months. Clinical and radiological improvement was achieved within two months. To the authors' knowledge, the present report is the first to describe 'hard cash HP', possibly caused by chipping dust or printing dye.

  4. Does Operational Risk Disclosure Quality Increase Operating Cash Flows?

    Directory of Open Access Journals (Sweden)

    Haitham Nobanee

    2017-12-01

    Full Text Available This study aims to measure the degree of operational risk disclosure and examine its impact on operating cash flow of banks listed on the UAE Abu Dhabi Stock Exchange (ADX and Dubai Financial Market (DFM during the period 2003-2016. The authors conducted content analysis of the annual reports to measure the degree of operational risk disclosure. In addition, they used dynamic panel data regressions to analyze the impact of operational risk disclosure on the operating cash flow generated by the banks. The results show a low degree of operational risk disclosure for all UAE banks, both Islamic and conventional. In addition, the results show no association between the levels of disclosure of operational risk and cash flow for all banks, conventional and Islamic. Operational risk disclosure of Islamic banks has not been examined by any prior researchers. In addition, this paper examines the potential impact of operational risk disclosure on the operating cash flow generated by the banks.

  5. Your organization should consider a cash-balance pension plan.

    Science.gov (United States)

    Godwin, N H; Key, K G

    2000-08-01

    In recent years, a growing number of healthcare organizations have dropped the traditional defined-benefit pension plan and adopted cash-balance pension plans. A cash-balance pension plan generally allows employers to pay less in overall pension benefits and administration costs. A cash-balance pension plan pays benefits according to a predetermined formula based on an average of the employee's annual salary over his or her length of service. This provides recognizable benefits to younger employees but lower overall benefits to employees who have a long length of service. To assuage employees who may feel cheated out of the pension benefits they expected, employers that change to a cash-balance pension plan should consider offering higher guaranteed growth rates, advanced notification of the change to the new plan, and generous early-retirement options for employees with longer lengths of service.

  6. Cash Management Within the Defense Reutilization and Marketing Service

    National Research Council Canada - National Science Library

    Young, Shelton

    1994-01-01

    .... The primary objective of this phase of the audit was to evaluate whether sales proceeds that were deposited into cash suspense accounts were being reimbursed to the appropriate turn-in activities in a timely manner...

  7. Information-analytical support of management company cash flow

    OpenAIRE

    Golovko, V.; Mysaka, G.

    2010-01-01

    Article is dedicated to study of the actual questions of the improvement of the dataware and methodic of the economic analysis of the cash and flow in process of the optimization of management company financial resource.

  8. Net Operating Working Capital, Capital Budgeting, and Cash Budgets: A Teaching Example

    Science.gov (United States)

    Tuner, James A.

    2016-01-01

    Many introductory finance texts present information on the capital budgeting process, including estimation of project cash flows. Typically, estimation of project cash flows begins with a calculation of net income. Getting from net income to cash flows requires accounting for non-cash items such as depreciation. Also important is the effect of…

  9. 40 CFR 35.3560 - General payment and cash draw rules.

    Science.gov (United States)

    2010-07-01

    ... for set-asides. A State may draw cash through the ACH for the full amount of costs incurred for set... incurred project costs prior to drawing cash. A State may not draw cash for a particular project until the... 40 Protection of Environment 1 2010-07-01 2010-07-01 false General payment and cash draw rules. 35...

  10. Cash Flow Statement Spreadsheet Modeling Case Using a Prototype System Development Process

    Science.gov (United States)

    Davis, Jefferson T.

    2015-01-01

    U.S. GAAP and IFRS standards both require a cash flow statement that presents operating, investing and financing net cash flows (FASB, FAS 95; 1987; IASB, IAS 7, 1992). Although students are exposed to the cash flow statement in beginning accounting courses and then study the cash flow statement in more depth in intermediate accounting classes,…

  11. Three residual income valuation methods and discounted cash flow valuation

    OpenAIRE

    Fernandez, Pablo

    2003-01-01

    In this paper we show that the three residual Income models for equity valuation always yield the same value as the Discounted Cash Flow Valuation models. We use three residual income measures: Economic Profit, Economic Value Added (EVA) and Cash Value Added. We also show that economic profit and EVA are different, although Copeland, Koller and Murrin (2000, page 55) say that economic profit is a synonym of EVA. Specifically, we first show that the present value of the Economic Profit discoun...

  12. Dividend growth, cash flow, and discount rate news

    OpenAIRE

    Garrett, Ian; Priestley, Richard

    2012-01-01

    This is the authors’ accepted and refereed manuscript to the article. Publishers web site http://journals.cambridge.org/ Using a new variable based on a model of dividend smoothing, we find that dividend growth is highly predictable and that cash flow news contributes importantly to return variability. Cash flow betas derived from this predictability are central to explaining the size effect in the cross section of returns. However, they do not explain the value effect; this is explained b...

  13. Transfer of Tritium in the Environment after Accidental Releases from Nuclear Facilities. Report of Working Group 7 Tritium Accidents of EMRAS II Topical Heading Approaches for Assessing Emergency Situations. Environmental Modelling for Radiation Safety (Emras II) Programme

    International Nuclear Information System (INIS)

    2014-07-01

    Environmental assessment models are used for evaluating the radiological impact of actual and potential releases of radionuclides to the environment. They are essential tools for use in the regulatory control of routine discharges to the environment and also in planning measures to be taken in the event of accidental releases. They are also used for predicting the impact of releases which may occur far into the future, for example, from underground radioactive waste repositories. It is important to verify, to the extent possible, the reliability of the predictions of such models by a comparison with measured values in the environment or with predictions of other models. The IAEA has been organizing programmes of international model testing since the 1980s. These programmes have contributed to a general improvement in models, in the transfer of data and in the capabilities of modellers in Member States. IAEA publications on this subject over the past three decades demonstrate the comprehensive nature of the programmes and record the associated advances which have been made. From 2009 to 2011, the IAEA organized a programme entitled Environmental Modelling for RAdiation Safety (EMRAS II), which concentrated on the improvement of environmental transfer models and the development of reference approaches to estimate the radiological impacts on humans, as well as on flora and fauna, arising from radionuclides in the environment. Different aspects were addressed by nine working groups covering three themes: reference approaches for human dose assessment, reference approaches for biota dose assessment and approaches for assessing emergency situations. This publication describes the work of the Tritium Accidents Working Group

  14. Leverage, Asymmetric Information, Firm Value, and Cash Holdings in Indonesia

    Directory of Open Access Journals (Sweden)

    Aldea Mita Cheryta

    2018-02-01

    Full Text Available This research aimed to analyze the effect of leverage and asymmetry information on the firm value through cash holding as mediation variable. The populations of this research were all the firms which listed on the Indonesia Stock Exchange since 2012 – 2015. A sample of this research was saturated sample and census, consisted 56 firms related the population criteria.  This research used secondary data from the firm financial report through path analysis method. This research showed that leverage had a negative effect on the cash holdings, asymmetry information had a negative effect on the firm value through cash holding, and cash holding had a negative effect on the firm value.  With leverage and effect on cash, holding cannot affect the firm value, due to investor risk-averse, investor risk seeker, and neutral investor has their own point of view in assessing the company. Cash holdings can lead to asymmetric information that can lead to agency conflict that can affect a company's performance, so that indirectly, with the existence of asymmetry information had an effect on the declining the firm value. 

  15. Cash or Credit? Compensation in Psychology Studies: Motivation Matters

    Directory of Open Access Journals (Sweden)

    Holly J. Bowen

    2017-05-01

    Full Text Available It is common practice for psychology researchers to recruit their sample of participants from the undergraduate student population. Participants are typically compensated with partial course credit or a monetary payment. The current study reveals that the motivation to participate in a study (cash versus course credit can relate to performance on a behavioral task of rewarded memory. In Experiment 1, undergraduate participants were recruited and compensated for their time with either partial course credit or cash. Potential performance-based cash rewards were earned during a rewarded memory task, where correct recognition of half the stimuli was worth a high reward and the other half a low reward. Memory for high reward items was better than low reward items, but only for the cash group. The credit group did not modulate their performance based on the value of the stimuli. In Experiment 2, undergraduates were compensated with partial course credit for their time and given the opportunity to earn a bonus credit for performance on a memory test. The findings were in line with the results from the credit group of Experiment 1, suggesting that the modulation of performance in the cash group of Experiment 1 cannot be accounted for by congruency between motivation to participate and reward for task performance. Of methodological importance, the findings indicate that recruiting and compensating participants with cash versus course credit may influence the results on a rewarded memory task. This factor should be taken into consideration in studies of reward motivation.

  16. A tax proposal for a cash flow corporate tax

    Directory of Open Access Journals (Sweden)

    Lourdes Jerez Barroso

    2013-12-01

    Full Text Available Purpose: Due to its advantages in terms of neutrality and simplicity, the aim of this paper is to design a tax base for corporation cash flows, as well as to develop its practical implementation.Design/Methodology: The conceptual aspects and the background of tax on corporation tax flows are reviewed and a tax base that levies a charge on the corporation’s economical activities’ cash flow is then proposed. In order to carry this out, a methodological procedure is developed on the basis of the accounting documents that companies must present and through which the stock variables and the accounting documents’ work flow is transformed into cash flow.Findings: An implementation on the basis of the accounting documents that Spanish companies must present. Practical Implications: This paper defines the procedure to follow in order to determine the tax base of a cash flow corporate income tax on the basis of its accounts, which would allow an estimation of this tax figure’s revenue impact.Originality/ Value: The design of a tax base of cash flows for companies. The accounting approximation carried out to determine the cash flows justifies the fact that the tax base proposal is technically possible.

  17. Functional Limitations, Depression, and Cash Assistance are Associated with Food Insecurity among Older Urban Adults in Mexico City.

    Science.gov (United States)

    Vilar-Compte, Mireya; Martínez-Martínez, Oscar; Orta-Alemán, Dania; Perez-Escamilla, Rafael

    2016-01-01

    To examine factors associated with food insecurity among urban older adults (65 years and older). Three hundred and fifty two older adults attending community centers in a neighborhood of Mexico City were surveyed for food insecurity, functional impairments, health and mental health status, cash-transfer assistance, socio-demographic characteristics, social isolation, and the built food environment. Having at least primary education and receiving cash-transfers were significantly associated with a lower probability of being moderately-severely food insecure (OR=0.478 and 0.597, respectively). The probability of moderate-severe food insecurity was significantly higher among elderly at risk of depression (OR=2.843), those with at least one activity of daily living impaired (OR=2.177) and those with at least one instrumental activity of daily living impaired (OR=1.785). Higher educational attainment and cash-transfers may have a positive influence on reducing food insecurity. Depression and functional limitations may increase the likelihood of food insecurity among older adults.

  18. The Determinants of Corporate Cash Holdings- An Empirical study from UK Firms

    OpenAIRE

    GUO, YI

    2013-01-01

    Cash holding is most important financial decision in the company management strategy. In this dissertation, the determinants of corporate cash holdings in UK non-financial publicly traded firms over the period from 2003 to 2012 are investigated. Our study finds that growth opportunities and cash flow and cash flow variability are positively associated with the level of corporate cash holdings, while firm size, leverage, net working capital, bank debt and dividend payment have negative impact ...

  19. The Role of Cash Holdings in Reducing Investment-Cash Flow Sensitivity: Evidence from a Financial Crisis Period in an Emerging Market

    OpenAIRE

    Ozgur Arslan; Chrisostomos Florackis; Aydin Ozkan

    2006-01-01

    This paper investigates the relationship between financing constraints and investment-cash flow sensitivities by focusing on cash holdings of firms as the basic classification scheme to separate firms into financially constrained and unconstrained categories. The idea is that high cash reserves increase the ability of firms to undertake profitable investment opportunities. Our classification scheme is based on an optimal cash model, which helps us identify the firms that deviate significantly...

  20. Monitoring of Shadow Cash Flows Using Computer Modelling

    Directory of Open Access Journals (Sweden)

    Evgeniya Vladimirovna Baturina

    2018-03-01

    Full Text Available The computer simulation of economic systems is a promising tool in the development of the theory of the country’s economic security. We have examined the Russian banking legislation and synthesized judicial economic expertise. This has allowed to develop an algorithm for the investigation of the marker pattern of shadow cash flows. The authors’ algorithm of marker monitoring of cash flow consists of the following sequences. Firstly, we set the time of the first receipt of money and the first withdrawals. Secondly, we compare cash balance of an organization at the beginning of the period with the first withdrawals. Thirdly, under the given condition, the minimum value of interested money flow in these withdrawals is calculated. This value is characterized by the marker parameters and forms a table containing data on the cash flow, recipients and payers, spheres of their activity. And last, on the basis of this table, we build a graph of relationships between the subjects of the shadow economy. The graph’s vertices represent these subjects. The visual representation of the graph is a marker pattern of shadow cash flow. The practical importance of this algorithm is due to its applicability in the investigation of economic crimes both at the stage of intelligence operations, and when obtaining proofs of the brought criminal cases in the form of the conclusions of expertseconomists. In addition, marker patterns of shadow cash flows can describe the state of the shadow economy of a region as a whole including its dynamics. This expands its parameterization. The created database of the shadow flows of the economy can be also useful for the scientific community. On the basis of the received results, we have developed management decisions to create and administer the information resource of the Bank of Russia “Shadow economy of a region”. This information resource ensures tracking the marker trace of cash flow in the bank environment by the

  1. Specifics of financial management of holdings when managing cash-flow

    Directory of Open Access Journals (Sweden)

    David Ficbauer

    2010-01-01

    Full Text Available Concentration and cooperation belong to the main attributes of the modern business life. Business competition makes the start of a new business more difficult. Just the moment of concentration and cooperation can make the break to the new business easier. This can be achieved by including new businesses into holding companies. Basically there are two ways how to do a business. These depend on whether company carries out many lines of business or on the amount of asset. The first way is to cover everything with one enterprise and thus to create one accounting unit. The second way is based on a foundation of a holding structure with subsidiaries and the holder on the top. In fact holding is a specific way how to cover business by many subsidiaries.The goal of this article is to describe specifics of a financial management of holdings when managing cash-flow. The focus is on reasons of holding structure and usage of both theoretical and other models of managing cash such as Baumol model, Miller-Orr model and Beránek model. As transfers within the holding organization belong to the main advantageous of holding, the way how to transfer finance from one subsidiary to other or from subsidiary to holder or reversely is handled here.

  2. Modelling of the transfer of radiocaesium from deposition to lake ecosystems. Report of the VAMP aquatic working group. Part of the IAEA/CEC co-ordinated research programme on the validation of environmental model predictions (VAMP)

    International Nuclear Information System (INIS)

    2000-03-01

    The environmental impact of releases of radionuclides from nuclear installations can be predicted using assessment models. For such assessments information on their reliability must be provided. Ideally models should be developed and tested using actual data on the transfer of the nuclides which are site specific for the environment being modelled. In the past, generic data have often been taken from environmental contamination that resulted from the fallout from the nuclear weapons testing in the 1950s and 1960s or from laboratory experiments. However, it has always been recognized that there may be differences in the physico-chemical form of the radionuclides from these sources as compared to those that could be released from nuclear installations. Furthermore, weapons fallout was spread over time; it did not provide a single pulse which is generally used in testing models that predict time dependence. On the other hand, the Chernobyl accident resulted in a single pulse, which was detected and measured in a variety of environments throughout Europe. The acquisition of these new data sets justified the establishment of an international programme aimed at collating data from different IAEA Member States and at co-ordinating work on new model testing studies. The IAEA established a Co-ordinated Research Programme (CRP) on 'Validation of Environmental Model Predictions' (VAMP). The principal objectives of the VAMP Co-ordinated Research Programme were: (a) To facilitate the validation of assessment models for radionuclide transfer in the terrestrial, aquatic and urban environments. It is envisaged that this will be achieved by acquiring suitable sets of environmental data from the results of the national research and monitoring programmes established following the Chernobyl release. (b) To guide, if necessary, environmental research and monitoring efforts to acquire data for the validation of models used to assess the most significant radiological exposure pathways

  3. Cash budgeting: an underutilized resource management tool in not-for-profit health care entities.

    Science.gov (United States)

    Hauser, R C; Edwards, D E; Edwards, J T

    1991-01-01

    Cash budgeting is generally considered to be an important part of resource management in all businesses. However, respondents to a survey of not-for-profit health care entities revealed that some 40 percent of the participants do not currently prepare cash budgets. Where budgeting occurred, the cash forecasts covered various time frames, and distribution of the document was inconsistent. Most budgets presented cash receipts and disbursements according to operating, investing, and financing activities--a format consistent with the year-end cash flow statement. By routinely preparing monthly cash budgets, the not-for-profit health care entity can project cash inflow/outflow or position with anticipated cash insufficiencies and surpluses. The budget should be compared each month to actual results to evaluate performance. The magnitude and timing of cash flows is much too critical to be left to chance.

  4. Financial Reporting Quality, Free Cash Flow, and Investment Efficiency

    Directory of Open Access Journals (Sweden)

    Wang Fusheng

    2015-01-01

    Full Text Available This paper based on the perspective of firm’s agency conflicts to examine the relationship between financial reporting quality and investment efficiency and to analyze the interaction effect between financial reporting and free cash flow on investment efficiency. We use 3,726 samples of Chinese listed firms during the period 2008–2012 to test the empirical models and find that financial reporting quality is negatively associated with both underinvestment and overinvestment. Further, we find that financial reporting quality is more strongly associated with overinvestment for firms with large free cash flow, which suggests that financial reporting quality can reduce information asymmetry arising from agency conflicts between the managers and investors. This paper extends the field of application of financial reporting quality and investment efficiency in the emerging capital markets in the world. Moreover, this is the first study that analyzes the interaction effect between financial reporting quality and free cash flow on investment efficiency.

  5. CASH FLOW-FINANCIAL PLANNING TOOL IN THE TOURISM UNITS

    Directory of Open Access Journals (Sweden)

    Boby COSTI

    2017-05-01

    Full Text Available This paper addresses the issue of cash-flow tool for financial planning, cash flow calculation by applying the indirect method within a company in the field of tourism. Thus, it tackled issues concerning the organization of accounting of treasury which made a presentation of the subject reflected in treasury accounting record of the existence and movement of securities placement, availability of the accounts at banks, short term bank loans and other cash values. The importance of access to information as well as more detailed and clearer leads to an upward trend of the tourism society. Standardization of definitions helps to ensure that all parties are talking of the same terms or concepts with lower or no variables. This is essential for developers and contractors in different geographical regions of the world and different countries when they discuss issues of tourism and travel.

  6. Analysis of cash flow ratios: A study on CMC

    Directory of Open Access Journals (Sweden)

    Somnath Das

    2018-01-01

    Full Text Available Cash flow ratios help financial users get relevant information about financial resources for a given time. Cash flow ratios are now used more than the traditional ones because it is more effective and justified. Cash flow based ratios are especially surprising because they do not only play a significant role in the credit rating of evaluation, but also forecast the failure of a corporation. In this study, we perform an empirical investigation on a company named CMC. From the study, it is clear that the liquidity and solvency positions of the company were moderate whereas the company maintained low profitability. On the other hand, the efficiency and sufficiency ratios of the study give us a new look on financial judgement.

  7. CASH-FLOW SENSITIVITY TO PAYMENTS FOR MATERIAL RESSOURCES

    Directory of Open Access Journals (Sweden)

    Lavinia Elena BRÎNDESCU OLARIU

    2014-12-01

    Full Text Available The financing decision is taken based on the expectations concerning the future cash-flows generated in the operating activity, which should provide coverage for the debt service and allow for an increase of the shareholders’ wealth. Still, the future cash-flows are affected by risk, which makes the sensitivity analysis a very important part of the decision process. The current research sets to evaluate the sensitivity of the payment capacity to variations of the payments for raw materials and consumables. The study employs 391 forecasted yearly cash-flow statements collected from 50 companies together with detailed information concerning the hypotheses of the forecasts. The results of the study allow for the establishment of benchmarks for the payment capacity’s sensitivity, the determination of the mechanisms through which the variation of payments for raw materials and consumables impacts the payment capacity, as well as the identification of the possible causes of such a variation.

  8. Towards the establishment of cash waqf microfinance fund for refugees

    Directory of Open Access Journals (Sweden)

    Omar Ahmad Kachkar

    2017-07-01

    Full Text Available Purpose - This paper aims to propose cash waqf (endowment to develop a conceptual model that can be utilised to extend microfinance for refugees. Design/methodology/approach - Qualitative method is used in this research. An extensive review of the literature has been conducted. Latest literature on refugees, microfinance has been critically examined beside the current cash waqf models. Findings - Empirical studies have shown that many refugees are equipped with marketable skills and talents that can be utilised to improve their socio-economic situations. The proposed model – cash waqf refugee microfinance fund (CWRMF – is structured to extend microfinance to potential refugee micro entrepreneurs. To address the lack of collateral, which is a requirement to gain any microfinance, CWRMF has been incorporated with a takaful unit (cooperation by which refugees may guarantee each other. Additionally, the model has also been structured to address the challenge of sustainability of the institution that would provide microfinance. Hence, a reserve fund has also been integrated into the model. Practical implications - CWRMF represents a potential model to be implemented by humanitarian non-governmental organisations (NGOs and aid agencies to support livelihood of refugees in particular for Muslim refugees. Positive outcome is expected from the implementation of this model. This is because of the various advantages of microfinance programs not only on refugees but also on concerned NGOs, host populations and donor parties. Additionally, this paper is a set of primarily thoughts aims to open the door wider for more researchers to explore the potential of cash waqf as one of the instruments to finance refugee microenterprises and business activities. Originality/value - Recently cash waqf has been into several models for socio-economic development and poverty alleviation. This paper is proposing cash waqf as a source for a microfinance fund that can

  9. Thailand's cash crisis hits Asian hydro plans

    International Nuclear Information System (INIS)

    Hayes, David

    1999-01-01

    This article highlights the impact of Thailand's economic crisis on the state run Electricity Generating Authority of Thailand (EGAT) hydroelectric power developments plans. The three economic scenarios (rapid, moderate, slow) used by EGAT, and the moderate recovery scenario that the Thai government has instructed EGAT to use are discussed. The predicted rising of energy consumption, the delay to EGAT power development programme, plans for constructing plants using renewable energy, the supply of electricity from Laos, and future developments are considered. The restructuring of Thailand's electricity sector is reviewed, and Thailand's decision to request the assistance of the International Monetary Fund is noted. Thailand's power capability is briefly explored, and a diagram showing the transmission system and existing and future hydroelectric power plants is presented. (UK)

  10. A tax proposal for a cash flow corporate tax

    OpenAIRE

    Lourdes Jerez Barroso; Joaquín Texeira Quirós

    2013-01-01

    Purpose: Due to its advantages in terms of neutrality and simplicity, the aim of this paper is to design a tax base for corporation cash flows, as well as to develop its practical implementation.Design/Methodology: The conceptual aspects and the background of tax on corporation tax flows are reviewed and a tax base that levies a charge on the corporation’s economical activities’ cash flow is then proposed. In order to carry this out, a methodological procedure is developed on the basis of the...

  11. Comparative characteristics of electronic, cash and cashless money

    Directory of Open Access Journals (Sweden)

    Ксенія Романівна Петрофанова

    2017-12-01

    The study of the peculiarities of electronic money is accompanied by the discovery of a large number of theoretical and practical problems and separate discussion issues of important application significance. As the number of e-money users increases with the development of e-commerce, protecting their interests requires proper civil and financial regulation. Comparing electronic money with cash and non-cash money, we found that they, by combining the benefits of the other two forms of money, actually became the third specific monetary form

  12. 1999 BUSINESS ANALYSIS SUMMARY FOR CASH GRAIN FARMS

    OpenAIRE

    Nott, Sherrill B.

    2000-01-01

    The sources of the 51 cash grain farms analyzed in this report were Telfarm/MicroTel at Michigan State University, plus the AgriSolutions offices in East Lansing, Adrian, Mt. Pleasant, and Alpena. Farm types were assigned using the 1992 Census of Agriculture's Standard Industrial Classification (SIC) definitions. Basically, any farm with 50 percent or more of value of farm sales from one item becomes a farm of that type. Cash grain farms have 50 percent or more of value of combined sales from...

  13. 7 CFR 765.405 - Payment of costs associated with transfers.

    Science.gov (United States)

    2010-01-01

    ... transferee, with Agency approval, may pay these costs provided: (a) Any cash equity due the transferor is applied first to payment of costs and the transferor does not receive any cash payment above these costs... 7 Agriculture 7 2010-01-01 2010-01-01 false Payment of costs associated with transfers. 765.405...

  14. Crispv programme

    International Nuclear Information System (INIS)

    Marinkovicj, N.

    CRISPV (Criticality and Spectrum code) is a multigroup neutron spectrum code for homogeneous reactor cores and is actually a somewhat modified version of the original CRISP programme. It is a combination of DATAPREP-II and BIGG-II programmes. It is assumed that the reactor cell is a cylindrical fuel rod in the light or heavy water moderator. DATEPREP-II CODE forms the multigroup data for homogeneous reactor and prepares the input parameters for the BIGG-II code. It has its own nuclear data library on a separate tape in binary mode. BIGG-II code is a multigroup neutron spectrum and criticality code for a homogenized medium. It has as well its own separate data library. In the CRISPV programme the overlay structure enables automatic handling of data calculated in the DATAPREP-II programme and needed in the BIGG-II core. Both programmes are written in FORTRAN for CDC 3600. Using the programme is very efficient and simple

  15. Kontsernisisese cash pooling'u kasutamise võimalikud piirangud / Karl Kull

    Index Scriptorium Estoniae

    Kull, Karl, 1987-

    2011-01-01

    Cash pooling’ust kui finantsjuhtimise ühest alaliigist. Cash pooling’u kasutamise piirangutest: äriseadustiku §-des 159 ja 281 sätestatud laenukeelust ning emaettevõtja kohustuste võimalikust rikkumisest

  16. Cash Accountability in the Department of Defense, Supply Department Imprest Fund, Naval Air Station, Norfolk, Virginia

    National Research Council Canada - National Science Library

    Mckinney, Terry

    1994-01-01

    Our objectives were to verify the accountability for cash and related assets and to evaluate the adequacy of procedures used to determine the accuracy of records used to support cash accountability...

  17. METHODOLOGICAL APPROACHES TO THE ANALYSIS OF EFFICIENCY OF CASH FLOW MANAGEMENT IN INVESTMENT ACTIVITY OF THE ENTERPRISES

    OpenAIRE

    I. Magdych

    2015-01-01

    The article explores the methodological approaches to the analysis of cash flows in investment activity of the enterprise; the system of motion net cash flows, reflecting the impact of cash management efficiency on the amount and source of investment cash flows of the enterprise; analytical model of definition of effectiveness of cash management of the enterprise is proposed, based on the selected principals of modeling, comprehensive analysis of cash flows in investing activities and their o...

  18. An Experiment of Student Understanding of Accruals versus Cash Flows

    Science.gov (United States)

    Miranda-Lopez, Jose Eduardo; Nichols, Linda M.

    2007-01-01

    The concepts of both accrual accounting and cash basis accounting need to be thoroughly understood by accounting graduates as they enter the workplace. In making decisions, both managers and investors often may need to make adjustments from one basis to the other. But do students really understand these concepts? This study uses an experimental…

  19. 45 CFR 400.52 - Emergency cash assistance to refugees.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 2 2010-10-01 2010-10-01 false Emergency cash assistance to refugees. 400.52 Section 400.52 Public Welfare Regulations Relating to Public Welfare OFFICE OF REFUGEE RESETTLEMENT, ADMINISTRATION FOR CHILDREN AND FAMILIES, DEPARTMENT OF HEALTH AND HUMAN SERVICES REFUGEE RESETTLEMENT PROGRAM...

  20. 7 CFR 3015.83 - Federal cash transactions report.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Federal cash transactions report. 3015.83 Section 3015.83 Agriculture Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER, DEPARTMENT OF AGRICULTURE UNIFORM FEDERAL ASSISTANCE REGULATIONS Financial Reporting...

  1. 20/30 Hindsight: cash management in local banks

    NARCIS (Netherlands)

    Peffer, Ron A.; Telgen, Jan

    1986-01-01

    Who would ever expect that a bank would complain about the number of calculations required to do anything, let alone cut down costs? Mr. Peffer and Dr. Telgen describe their experiences in implementing a cash management system for use by independent local banks; when they got that response—perhaps

  2. Mathematical annuity models application in cash flow analysis ...

    African Journals Online (AJOL)

    Mathematical annuity models application in cash flow analysis. ... We also compare the cost efficiency between Amortisation and Sinking fund loan repayment as prevalent in financial institutions. Keywords: Annuity, Amortisation, Sinking Fund, Present and Future Value Annuity, Maturity date and Redemption value.

  3. 31 CFR 321.7 - Authorized cash payments.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Authorized cash payments. 321.7 Section 321.7 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL... registration on the front of the security, or by a person authorized or empowered to act for a corporate legal...

  4. The Cash Flow as Financial Management Tool For Small Businesses

    Directory of Open Access Journals (Sweden)

    Osmar Siena

    2015-06-01

    Full Text Available This study is engaged on the axis of Financial Management, with research into the factors controlling corporation in small business finance. It has as main objective to analyze the cash flow tool as a tool for financial management and specific process to describe the use of the Cash Flow tool objectives; analyze the feasibility of implementing the Cash Flow tool as an instrument of financial management and suggest proposals for suitability for deployment of Cash Flows as a financial management system. Facing these objectives the research uses the precedence of qualitative methodology and applies the instruments on-site visit, interview and questionnaire to collect data. Descriptive analysis that confront the theoretical basis and the data obtained from research is used. With the completion of the analysis the following results were achieved: description of business processes researched; identifying the needs and forms of control currently used and presentation of improvement measures for the adjustment of non-conformities identified. The study contributes to both the academic improvement by analyzing the real situation of the company, as well as it serves as a recommendation to companies embracing similar difficulties in financial management.

  5. Pengaruh Free Cash Flow Dan Kualitas Audit Terhadap Manajemen Laba

    Directory of Open Access Journals (Sweden)

    Dian Agustia

    2013-04-01

    Full Text Available Asymmetric information refers to a situation where one party has more information than the other party. The agency problems arise from asymmetric information in the principal agent contracts. In addition, there are also several factors that could affect earnings management that is free cash flow and audit quality. The aim of this research is to provide empirical evidence about the impact of free cash flow and audit quality variables on discretionary accruals, as a measure of Earnings Management with the control variables company’s size. This research used 103 manufacturing companies listed in Indonesia Stock Exchange, selected using purposive sampling method, during the research period 2007-2011. Data were analyzed using multiple regression method. Based on the result of analysis concluced that the variable independent free cash flow have a negative and significant effect on earning management. It means that companies with high free cash flow will restrict the practice of earnings management. While the audit quality no significance effect on earning management.

  6. Cash dividends and futures prices on discontinuous filtrations

    NARCIS (Netherlands)

    Vellekoop, M.H.; Nieuwenhuis, J.W.

    We derive a general formula for the futures price process without the restriction that the assets used in the future margin account are continuous and of finite variation. To do so, we model tradeable securities with dividends which are not necessarily cash dividends at fixed times or continuously

  7. The dynamics of stock price and determination of investor's cash ...

    African Journals Online (AJOL)

    Our aim is to also determine investor's cash flows valuation generated from the investment. The investor invested her short position into N number of investment firms. The firms in turn invest the short position of the investor into the stock and bond markets in order to hedge out the risks associated with the investor's portfolio.

  8. Direct Loan Cash Management and Data Matching (Reconciliation).

    Science.gov (United States)

    Department of Education, Washington, DC.

    This guide for institutions of higher education and other schools receiving funds under the William D. Ford Direct Loan Program details required and recommended procedures for the reconciliation process. The reconciliation process is explained to include cash management (the accounting for Direct Loan funds drawn down and disbursed to borrowers)…

  9. Financial Management: Cash Management Practices in Florida Community Colleges.

    Science.gov (United States)

    Spiwak, Rand S.

    A study was conducted to identify those variables appearing to affect cash management practices in Florida community colleges, and recommend prescriptive measures concerning these practices. The study methodology included informal discussions with the chief fiscal officers of each Florida community college and appropriate state board staff,…

  10. 31 CFR 206.6 - Cash management planning and review.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Cash management planning and review. 206.6 Section 206.6 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE MANAGEMENT OF FEDERAL AGENCY...

  11. Cash debt buybacks and the insurance value of reserves

    NARCIS (Netherlands)

    van Wijnbergen, S.

    Absence of terms-of-trade contingent instruments in international capital markets, combined with differences in risk aversion between commercial creditors and LDC borrowers, has important consequences for the welfare effects of cash/debt buy-backs. In such circumstances, secondary market prices fail

  12. DETERMINANTS AND OPTIMAL LEVEL OF CORPORATE CASH HOLDINGS: EVIDENCE FROM US, UK AND JAPAN

    OpenAIRE

    Zhang, Shan Shan

    2013-01-01

    This paper firstly investigates the empirical determinants of corporate cash holdings for a sample of listed US, UK and Japanese firms during the 2000-2012 period. Through applying the pooled time-series cross-sectional estimations, cross-sectional estimations and GMM two-step method of estimations, the results reveal that firms’ cash flow, cash flow variability, bank debt and degree of shareholders protection and creditor protection all have inverse relationship with cash holdings. Contraril...

  13. Do analysts disclose cash flow forecasts with earnings estimates when earnings quality is low?

    OpenAIRE

    Bilinski, P.

    2014-01-01

    Cash flows are incrementally useful to earnings in security valuation mainly when earnings quality is low. This suggests that when earnings quality decreases, analysts will be more likely to supplement their earnings forecasts with cash flow estimates. Contrary to this prediction, we find that analysts do not disclose cash flow forecasts when the quality of earnings is low. This is because cash flow forecast accuracy depends on the accuracy of the accrual estimates and the precision of accrua...

  14. Forecasting of cash flow from an enterprise’s principal activities

    OpenAIRE

    Kanapickienė, Rasa; Šlekienė, Vaida

    2008-01-01

    The article deals with the forecasting of a cash flow from primary activities of an enterprise. Different mathematical methods are applied to forecast cash flow. Cash flow forecasts are often introduced in the project of the enterprise budget. Some scientific sources state that it is possible to forecast cash flow from primary activities of an enterprise according to its historical financial data by the means of regression analysis. These sources suggest various models of regression analysis ...

  15. A study on relationship between market share and cash flow policy

    OpenAIRE

    Somayeh Sadeghi Moghaddam; Fateme Zabihi

    2014-01-01

    This paper presents an empirical investigation to study the relationship between cash flow and market share on selected firms from Tehran Stock Exchange over the period 2007-2011. Using regression analysis, the study has detected a positive and meaningful relationship between cash flow on one side and three other investment opportunities, firm size and operating cash flow. In addition, there is a negative and meaningful relationship between leverage and cash flow. However, the study does not ...

  16. 20 CFR 404.1586 - Why and when we will stop your cash benefits.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Why and when we will stop your cash benefits... and when we will stop your cash benefits. (a) When you are not entitled to benefits. If you become entitled to disability cash benefits as a statutorily blind person, we will find that you are no longer...

  17. 38 CFR 6.16 - Payment of cash value in monthly installments.

    Science.gov (United States)

    2010-07-01

    ... selected by the insured. If no designated beneficiary survives, the present value of any remaining unpaid... 38 Pensions, Bonuses, and Veterans' Relief 1 2010-07-01 2010-07-01 false Payment of cash value in... AFFAIRS UNITED STATES GOVERNMENT LIFE INSURANCE Cash Value § 6.16 Payment of cash value in monthly...

  18. 24 CFR 572.230 - Cash and Management Information (C/MI) System.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 3 2010-04-01 2010-04-01 false Cash and Management Information (C... HOMES PROGRAM (HOPE 3) Grants § 572.230 Cash and Management Information (C/MI) System. Disbursement of HOPE 3 grant funds is managed through HUD's Cash and Management Information (C/MI) System for the HOPE...

  19. 45 CFR 401.12 - Cuban and Haitian entrant cash and medical assistance.

    Science.gov (United States)

    2010-10-01

    ... cash and medical assistance (and related administrative costs) to Cuban and Haitian entrants according... 45 Public Welfare 2 2010-10-01 2010-10-01 false Cuban and Haitian entrant cash and medical... ENTRANT PROGRAM § 401.12 Cuban and Haitian entrant cash and medical assistance. Except as may be otherwise...

  20. 31 CFR 206.10 - Operation of and payments from the Cash Management Improvements Fund.

    Science.gov (United States)

    2010-07-01

    ... SERVICE MANAGEMENT OF FEDERAL AGENCY RECEIPTS, DISBURSEMENTS, AND OPERATION OF THE CASH MANAGEMENT IMPROVEMENTS FUND § 206.10 Operation of and payments from the Cash Management Improvements Fund. (a) The Cash... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Operation of and payments from the...

  1. The effects of country and firm-level governance on cash management

    NARCIS (Netherlands)

    Seifert, Bruce; Gonenc, Halit

    We examine the effects of both country and firm-level governance on cash holdings and the value of cash for a large international sample during the period 2002-2013. We find that both strong country and strong firm-level governance reduce the amount of cash holdings. We observe that a number of the

  2. Cash Flow and Discount Rate Risk in Up and Down Markets: What is actually priced?

    NARCIS (Netherlands)

    Botshekan, M.; Kraeussl, R.G.W.; Lucas, A.

    2012-01-01

    We test whether asymmetric preferences for losses versus gains affect the prices of cash flow versus discount rate risk. We construct a return decomposition distinguishing cash flow and discount rate betas in up and down markets. Using U.S. data, we find that downside cash flow and discount rate

  3. Cash Management and Short-Term Investments for Colleges and Universities.

    Science.gov (United States)

    Haag, Leonard H.

    Effective cash management and short-term investing are discussed in this "how to" guide designed to benefit most institutions of higher education. The following premises are examined: proper compensation for effective cash management is not an expense but an investment; effective cash management and short-term investment programs do not depend on…

  4. 34 CFR 668.161 - Scope and purpose (cash management rules).

    Science.gov (United States)

    2010-07-01

    ... 34 Education 3 2010-07-01 2010-07-01 false Scope and purpose (cash management rules). 668.161... POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION STUDENT ASSISTANCE GENERAL PROVISIONS Cash Management § 668.161 Scope and purpose (cash management rules). (a) General. (1) This subpart establishes the rules and...

  5. The Management of Cash. NACUBO Professional File, Volume 9, Number 6.

    Science.gov (United States)

    Boyles, William W.

    With today's relatively high interest rates, inflationary trend, and declining public support to higher education, cash management programs are of interest to the academic business officer as well as the commercial businessman. Four areas in which the management of cash can be improved are: (1) speeding collections of cash; (2) delaying…

  6. 20 CFR 668.860 - What cash management procedures apply to INA grant funds?

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false What cash management procedures apply to INA... Administrative Requirements § 668.860 What cash management procedures apply to INA grant funds? INA grantees must... implement the Cash Management Improvement Act, found at 31 CFR part 205, apply by law to most recipients of...

  7. Trial Readiness in Cavernous Angiomas With Symptomatic Hemorrhage (CASH).

    Science.gov (United States)

    Polster, Sean P; Cao, Ying; Carroll, Timothy; Flemming, Kelly; Girard, Romuald; Hanley, Daniel; Hobson, Nicholas; Kim, Helen; Koenig, James; Koskimäki, Janne; Lane, Karen; Majersik, Jennifer J; McBee, Nichol; Morrison, Leslie; Shenkar, Robert; Stadnik, Agnieszka; Thompson, Richard E; Zabramski, Joseph; Zeineddine, Hussein A; Awad, Issam A

    2018-04-11

    Brain cavernous angiomas with symptomatic hemorrhage (CASH) are uncommon but exact a heavy burden of neurological disability from recurrent bleeding, for which there is no proven therapy. Candidate drugs to stabilize the CASH lesion and prevent rebleeding will ultimately require testing of safety and efficacy in multisite clinical trials. Much progress has been made in understanding the epidemiology of CASH, and novel biomarkers have been linked to the biological mechanisms and clinical activity in lesions. Yet, the ability to enroll and risk-stratify CASH subjects has never been assessed prospectively at multiple sites. Biomarkers and other outcomes have not been evaluated for their sensitivity and reliability, nor have they been harmonized across sites. To address knowledge gaps and establish a research network as infrastructure for future clinical trials, through the Trial Readiness grant mechanism, funded by National Institute of Neurological Disorders and Stroke/National Institutes of Health. This project includes an observational cohort study to assess (1) the feasibility of screening, enrollment rates, baseline disease categorization, and follow-up of CASH using common data elements at multiple sites, (2) the reliability of imaging biomarkers including quantitative susceptibility mapping and permeability measures that have been shown to correlate with lesion activity, and (3) the rates of recurrent hemorrhage and change in functional status and biomarker measurements during prospective follow-up. We propose a harmonized multisite assessment of enrollment rates of CASH, baseline features relevant to stratification in clinical trials, and follow-up assessments of functional outcomes in relation to clinical bleeds. We introduce novel biomarkers of vascular leak and hemorrhage, with firm mechanistic foundations, which have been linked to clinical disease activity. We shall test their reliability and validity at multiple sites, and assess their changes over time

  8. Monitoring programme

    International Nuclear Information System (INIS)

    1994-06-01

    Her Majesty's Inspectorate of Pollution's 1992 report on its programme of monitoring radioactive substances is presented. Site operators' returns are verified and the report provides independent data on the environmental impact of authorized disposal of radioactive wastes. Radiation doses which may have been received by members of the public, fall well below the International Commission for Radiological Protection's (ICRP) recommended annual doses. (UK)

  9. Management of area-wide integrated pest management programmes that integrate the sterile insect technique

    International Nuclear Information System (INIS)

    Dyck, V.A.; Vreysen, M.J.B.; Reyes Flores, J.; Regidor Fernandez, E.E.; Teruya, T.; Barnes, B.; Gomez Riera, P.; Lindquist, D.; Loosjes, M.

    2005-01-01

    Effective management of area-wide integrated pest management (AW-IPM) programmes that integrate the sterile insect technique (SIT) is key to success. Programme planning includes collection of baseline data and a feasibility assessment. The optimal management structure is where the programme can be implemented effectively and flexibly, independent of government politics, bureaucracy, and even corruption that impede timely goal achievement. Ideally, programmes include both public and private management, and require strong and steady financial support. Governments and donors are the most common sources of funds, but a mixture of public, community, and private funds is now the trend. Interrupted cash flow severely restrains programme performance. Physical support of programme operations must be reliable, and led by a maintenance professional. It is essential to have full-time, well-paid, and motivated staff led by a programme manger with technical and management experience. Programme failure is usually due to poor management and inadequate public support, and not to poor technology. (author)

  10. An investigation on how to estimate future cash flows: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Roghayeh Ahmdi Panah Banad Koki

    2014-03-01

    Full Text Available This paper presents an empirical investigation to predict future cash flows using present cash flow and accruals using the information of 96 selected firms listed on Tehran Stock Exchange over the period 2007-2011. The proposed study uses linear regression techniques to forecast future cash flow and the results indicate that cash flow and accruals together could provide more power to forecast cash flow. In addition, accrual provides future cash flow better than cash flow. The survey also performs an investigation on discretionary accrual and finds that the firms with higher accruals maintain lower return compared with firms with lower return. This means there is a clear evidence of discretionary accruals on Tehran Stock Exchange.

  11. Factors Affecting Corporate Cash Holding of Non-Financial Firms in Pakistan

    Directory of Open Access Journals (Sweden)

    Atif Kafayat

    2014-06-01

    Full Text Available The previous researches explore the question of why firms hold cash. But there are few researches done in developing countries like Pakistan. The need for cash is characterized by its policies of firms regarding capital structure, working capital requirements, cash flow management, dividend payments, and asset management. In this paper, the impact of these factors is normally analyzed under the framework of Tradeoff theory, Pecking Order Theory and Free Cash Flow Theory. This paper focuses on determining the level of corporate cash holdings of non-financial Pakistani firms, and cash holding requirement among different industries. The data is set for period of 2008- 2012 by using the data of 40companies and 6 industries. The findings of the study support the theories. Which show that firm size, net working capital, leverage, Capital Expenditure and Dividend significantly affect the cash holdings of non-financial firms in Pakistan.

  12. Strategic Management Accounting in Organizations’ Cash Flow Control

    Directory of Open Access Journals (Sweden)

    Y. P. Vetrov

    2017-09-01

    Full Text Available The article deals with the various interpretations of the term "strategic management accounting". The role and importance of strategic management accounting in the organization’s cash flows control are investigated. The accounting and analytical models of strategic management accounting are analyzed. The territorial scope of this article covers the Russian Federation. The study concludes that the system of assessment parameters of organization’s financial condition should cover all its aspects, namely, financial sustainability, solvency, liquidity and business activity. Hence, strategic management accounting of cash flows makes it possible to correctly set information base to monitor financial flows of a company which responds the tends of market economy and allows to make optimal management decisions.

  13. CASH AND LIQUIDITY/LIQUIDITY AND LIQUIDITY RATIO

    Directory of Open Access Journals (Sweden)

    BEATRIX LIGHEZAN BREUER

    2012-12-01

    Full Text Available The present paper aims to present the correlation as well as the differences between liquidity/cash and liquidity ratio in terms of economic entities. Researches on this topic are based on the opinions of some specialists in accounting and in the economic-financial analysis, as well as on the national legal stipulations and the ones set out in the International Accounting Standards, the Financial report, respectively. The object of this paper is represented by the correlation between liquidity/cash and liquidity ratios representing the liquidity as current assets, assets implied in the determination of liquidity ratios. The end of the paper consists of the conclusions drawn from the issues presented in the paper but also our views on this research topic.

  14. CASH HOLDING, GOOD CORPORATE GOVERNANCE AND FIRM VALUE

    Directory of Open Access Journals (Sweden)

    Prana Wahyu Nisasmara

    2016-12-01

    Full Text Available This research aims to understand the influence of profitability, capital structure, cash holding, and GCG (Good Corporate Governance on firm value.  The samples of this study were the property sector and real estate companies listed on Indonesia Stock Exchange (IDX in the period of 2008-2013. The data used from the annual report company. The methods of data analysis were multiple regression models and analyzed using IBM SPSS software. The results of this study are profitability has no influence on firm value, capital structure has positive influence on firm value, cash holding has no influence on firm value and GCG a has a positive influence on firm value.

  15. Watch for pitfalls of discounted cash flow techniques.

    Science.gov (United States)

    Chow, C W; McNamee, A H

    1991-04-01

    Discounted cash flow (DCF) techniques can enhance the effectiveness of a healthcare organization's capital budgeting decisions. But a financial manager unaware of common misapplications of DCF techniques may make capital decisions with a hidden bias against long-term projects, an inaccurate evaluation of options, or inappropriate estimations of expected inflation and risk. Social and psychological factors also can impede effective decisions on projects already introduced.

  16. Strategic Management Accounting in Organizations’ Cash Flow Control

    OpenAIRE

    Y. P. Vetrov; O. G. Vandina; A. R. Galustov

    2017-01-01

    The article deals with the various interpretations of the term "strategic management accounting". The role and importance of strategic management accounting in the organization’s cash flows control are investigated. The accounting and analytical models of strategic management accounting are analyzed. The territorial scope of this article covers the Russian Federation. The study concludes that the system of assessment parameters of organization’s financial condition should cover all its aspect...

  17. The Cash-out Refinancing in the Norwegian Housing Market

    OpenAIRE

    Almaas, Synne Schanke; Bystrøm, Line Synnøve

    2014-01-01

    The housing prices in Norway and the ratio of Norwegian household debt to disposable income have reached unprecedentedly high levels in recent years, raising concerns about whether we are in a serious housing bubble. This attracts much attention and initiates debates among politicians, researchers as well as the entire society. Contributing to the debates, the present thesis studies "cash-out" refinancing in the Norwegian housing market and has two main findings. First, along with the soaring...

  18. Corporate cash holdings: Determinants and implications from Vietnamese market

    OpenAIRE

    Cap, Kim Hoang

    2014-01-01

    2014 dissertation for MSc in International Accounting and Finance. Selected by academic staff as a good example of a masters level dissertation. This paper investigates the determination of corporate cash holdings in Vietnam. The sample includes Vietnamese publicly-traded firms for the period 2010-2013. Determinants include financial indicators as firm-specific characteristics and state ownership as an institutional factor for the purpose of exploring the existence of agency costs for this em...

  19. CASH AND LIQUIDITY/LIQUIDITY AND LIQUIDITY RATIO

    OpenAIRE

    ADELA BREUER; MIHAELA LESCONI FRUMUSANU; BEATRIX LIGHEZAN BREUER; ANDRA MANCIU

    2012-01-01

    The present paper aims to present the correlation as well as the differences between liquidity/cash and liquidity ratio in terms of economic entities. Researches on this topic are based on the opinions of some specialists in accounting and in the economic-financial analysis, as well as on the national legal stipulations and the ones set out in the International Accounting Standards, the Financial report, respectively. The object of this paper is represented by the correlation between liquidit...

  20. Cutting risk, boosting cash flow and developing marginal fields

    International Nuclear Information System (INIS)

    Baustad, T.; Courtin, G.; Davies, T.; Kenison, R.; Turnbull, J.; Gray, B.; Jalali, Y.; Remondet, J.C.; Hjelmsmark, L.; Oldfield, T.; Romano, C.; Saier, R.; Rannestad, G.

    1996-01-01

    To minimize financial risk and accelerate return on investment, oil companies are using low-cost, reusable production systems. The scope of these development options is illustrated by looking at three offshore case studies that range from extended well test to marginal field development. In each case, production systems technology has been deployed to provide superior data, early oil or both, thus reducing economic uncertainty and delivering accelerated cash flow. 10 figs., 23 refs

  1. Programme Biology - Health protection

    International Nuclear Information System (INIS)

    1975-01-01

    The scientific results for 1975, of the five-year Biology-Health Protection programme adopted in 1971, are presented in two volumes. In volume one, Research in Radiation Protection are developed exclusively, including the following topics: measurement and interpretation of radiation (dosimetry); transfer of radioactive nuclides in the constituents of the environment; hereditary effects of radiation; short-term effects (acute irradiation syndrome and its treatment); long-term effects and toxicology of radioactive elements. In volume, two Research on applications in Agriculture and Medicine are developed. It includes: mutagenesis; soil-plant relations; radiation analysis; food conservation; cell culture; radioentomology. Research on applications in Medicine include: Nuclear Medicine and Neutron Dosimetry

  2. Technology Programme

    Energy Technology Data Exchange (ETDEWEB)

    Batistoni, Paola; De Marco, Francesco; Pieroni, Leonardo [ed.

    2005-07-01

    The technology activities carried out by the Euratom-ENEA Association in the framework of the European Fusion Development Agreement concern the Next Step (International Thermonuclear Experimental Reactor - ITER), the Long-Term Programme (breeder blanket, materials, International Fusion Materials Irradiation Facility - IFMIF), Power Plant Conceptual Studies and Socio-Economic Studies. The Underlying Technology Programme was set up to complement the fusion activities as well to develop technologies with a wider range of interest. The Technology Programme mainly involves staff from the Frascati laboratories of the Fusion Technical and Scientific Unit and from the Brasimone laboratories of the Advanced Physics Technologies Unit. Other ENEA units also provide valuable contributions to the programme. ENEA is heavily engaged in component development/testing and in design and safety activities for the European Fusion Technology Programme. Although the work documented in the following covers a large range of topics that differ considerably because they concern the development of extremely complex systems, the high level of integration and coordination ensures the capability to cover the fusion system as a whole. In 2004 the most significant testing activities concerned the ITER primary beryllium-coated first wall. In the field of high-heat-flux components, an important achievement was the qualification of the process for depositing a copper liner on carbon fibre composite (CFC) hollow tiles. This new process, pre-brazed casting (PBC), allows the hot radial pressing (HRP) joining procedure to be used also for CFC-based armour monoblock divertor components. The PBC and HRP processes are candidates for the construction of the ITER divertor. In the materials field an important milestone was the commissioning of a new facility for chemical vapour infiltration/deposition, used for optimising silicon carbide composite (SiCf/SiC) components. Eight patents were deposited during 2004

  3. Technology Programme

    International Nuclear Information System (INIS)

    Batistoni, Paola; De Marco, Francesco; Pieroni, Leonardo

    2005-01-01

    The technology activities carried out by the Euratom-ENEA Association in the framework of the European Fusion Development Agreement concern the Next Step (International Thermonuclear Experimental Reactor - ITER), the Long-Term Programme (breeder blanket, materials, International Fusion Materials Irradiation Facility - IFMIF), Power Plant Conceptual Studies and Socio-Economic Studies. The Underlying Technology Programme was set up to complement the fusion activities as well to develop technologies with a wider range of interest. The Technology Programme mainly involves staff from the Frascati laboratories of the Fusion Technical and Scientific Unit and from the Brasimone laboratories of the Advanced Physics Technologies Unit. Other ENEA units also provide valuable contributions to the programme. ENEA is heavily engaged in component development/testing and in design and safety activities for the European Fusion Technology Programme. Although the work documented in the following covers a large range of topics that differ considerably because they concern the development of extremely complex systems, the high level of integration and coordination ensures the capability to cover the fusion system as a whole. In 2004 the most significant testing activities concerned the ITER primary beryllium-coated first wall. In the field of high-heat-flux components, an important achievement was the qualification of the process for depositing a copper liner on carbon fibre composite (CFC) hollow tiles. This new process, pre-brazed casting (PBC), allows the hot radial pressing (HRP) joining procedure to be used also for CFC-based armour monoblock divertor components. The PBC and HRP processes are candidates for the construction of the ITER divertor. In the materials field an important milestone was the commissioning of a new facility for chemical vapour infiltration/deposition, used for optimising silicon carbide composite (SiCf/SiC) components. Eight patents were deposited during 2004

  4. REFORMASI SISTEM AKUNTANSI CASH BASIS MENUJU SISTEM AKUNTANSI ACCRUAL BASIS

    Directory of Open Access Journals (Sweden)

    Yuri Rahayu

    2016-03-01

    Full Text Available Abstract –  Accounting reform movement was born with the aim of structuring the direction of improvement . This movement is characterized by the enactment of the Act of 2003 and Act 1 of 2004, which became the basis of the birth of Government Regulation No.24 of 2005 on Government Accounting Standards ( SAP . The general,  accounting is based on two systems,  the cash basis  and the accrual basis. The facts speak far students still at problem with differences to the two methods that result in a lack of understanding on the treatment system for recording. The purpose method of research is particularly relevant to student references who are learning basic accounting so that it can provide information and more meaningful understanding of the accounting method cash basis and Accrual basis. This research was conducted through a normative approach, by tracing the document that references a study/library that combines source of reference that can be believed either from books and the internet are processed with a foundation of knowledge and experience of the author. The conclusion can be drawn that basically to be able to understand the difference of the system and the Cash Basis accrual student base treatment requires an understanding of both methods. To be able to have the ability and understanding of both systems required reading exercises and reference sources.   Keywords : Reform, cash basis, accrual basis   Abstrak - Gerakan reformasi akuntansi dilahirkan dengan tujuan penataan ke arah perbaikan. Gerakan ini  ditandai dengan dikeluarkannya  Undang-Undang tahun 2003 dan Undang-Undang No.1 Tahun 2004  yang menjadi dasar lahirnya Peraturan Pemerintah No.24 Tahun 2005 tentang Standar Akuntansi Pemerintah (SAP . Pada umumnya pencatatan akuntansi di dasarkan pada dua sistem yaitu basis kas (Cash Basis dan basis akrual  (Accrual Basis. Fakta berbicara Selama ini mahasiswa masih dibinggungkan dengan perbedaan ke dua metode itu sehingga

  5. DETERMINANTS OF CASH WAQF CONTRIBUTION IN KLANG VALLEY AND SELANGOR: A SEM APPROACH

    Directory of Open Access Journals (Sweden)

    Muhammad Rizky Prima Sakti

    2016-08-01

    Full Text Available Cash waqf is becoming one of the popular Islamic financial instruments which not only focus on the religiosity but also has significant impact to the ummah development. This waqf scheme does not require richness in wealth, yet everybody in the society can contribute to cash waqf. The importance of cash waqf is getting popular as it has benefited in many ways, for example it can be used to develop assets and abandoned land for business and agricultural purposes. In addition, cash waqf also can be utilized to help institutions who are facing financial problem or liquidity issues. Nonetheless, rarely we found in the literature that empirically examines the cash waqf determinants and contributions. This paper is one of the few empirical studies that investigate the determinants towards the contribution of cash waqf in Malaysia. The purpose of this paper is to investigate the main factors that influence people towards the contribution of cash waqf instruments, special reference to the Klang Valley and Selangor. This paper employs structural equation modeling (SEM to verify the determinants of cash waqf contribution. In doing so, we use primary data by distributing self-administrated questionnaire constituting a sample of 114 respondents from Klang Valley and Selangor. Our empirical results reveal that the main factors that driven people towards the contribution of cash waqf products are attitude and social influences, however interestingly religion obligation is not influence the contribution of cash waqf.

  6. A Study on the Relationship of Earnings and Cash Flows: Evidence of Finance Sector in Iran

    Directory of Open Access Journals (Sweden)

    Mahdi Salehi

    2013-08-01

    Full Text Available The present study is investigating the quality of annual accounting earnings in banking firms that have been listed in Tehran Stock Exchange (TSE and it evaluates the most important information of accounting that is earnings and cash flows. The study also intends to investigate the relationship between earnings and cash flows regarding their relationship with the expected return of stocks and the extent of informing in the analysis of the inevitable return of stocks. The analyses of data during 6 years revealed that the earnings in comparison to the cash flows are very important as they have positive effects on the stock. Moreover, in the case of the relations of earnings and earnings changes with the expected return of stocks and the relation of cash flows and cash flow changes with the expected return of stock, it was found that there is only a meaningful relationship between earning changes and the expected return of stock in banking groups. However, there is no meaningful relationship between earning and cash flows with the expected return of stock. The result was that the informational content test didn’t support the value relation of earning and cash flows. Furthermore, the classifying of information through banking group indicated that the changes of earning was in the first rank and next were earning, the changes of cash flow and cash flows.Keywords: Earnings; Cash flows; expected return; Value relevance; Banking risks

  7. Business valuation: an analysis of projected cash flows versus takeover bids

    Directory of Open Access Journals (Sweden)

    Camila Menezes

    2017-12-01

    Full Text Available One of the main financial statements is the Cash Flow. It became mandatory from the law # 11,638/2007 on, which changed the law # 6,404/1976 – the Corporations’ law, and the Cash Flow statement allows analysis about the companies’ operations activities effects, investing and financing, highlighting their main sources of financial allocation. In 2005 and 2006, 37 companies registered takeover bids in the Brazilian Securities Exchange Commission (CVM – Comissão de Valores Mobiliários. Based on these companies’ analysis of Projected Cash Flows (FCP – Fluxos de Caixa Projetados when the takeover bids were put in place and their Actual Cash Flows (FCR – Fluxo de Caixa Realizados the objective of this work was to compare those cash flows, to analyze the differences between the Statements of Cash Flows attached to the Appraisal Reports and the actual ones, as well as to check if these companies’ cash were in line with the balances projected in the takeover bids. The obtained results via statistical analysis of differences between the Projected Cash Flows attached to the Appraisal Reports and the effective Actual Cash Flows, all of them compared in the period between 2007 and 2013, did not show significant differences among them. IE: it was observed that, nevertheless the companies did not accomplish the promised Cash Flows delivery when the OPAs were put in place, the differences between the balances projected and the actual ones were not statistically significant.

  8. International Harmonisation Of Accounting Standards: The Case For A Mandatory Requirement For The Direct Method Of Reporting Operating Cash Flows

    OpenAIRE

    Christine Yap

    2011-01-01

    Even though standard setters have now embraced cash flow statements there remains ambivalence as to the best format (i.e. direct or indirect method) for disclosing cash flow from operations. In 1987 the FASB asserted that information about the gross amounts of cash receipts and cash payments is more relevant than information about the net amounts of cash receipts and payments. Yet apart from Australia and New Zealand, most standard setting bodies, including the International Accounting Standa...

  9. FGI - Programme 2: RADIOECOLOGY

    Energy Technology Data Exchange (ETDEWEB)

    Deville-Cavelin, G. [Institut de Radioprotection et de Surete Nucleaire, IRSN, B.P. 17, F - 92262 Fontenay-aux-Roses Cedex (France); Biesold, H. [Gesellschaft fuer Anlagen- und Reaktorsicherheit mbH, GRS, Schwertnergasse 1, D - 50667 Koeln (Germany); Chabanyuk, V. [Radioactive Waste and Radioecology, Department Chernobyl Center for Nuclear Safety, Chernobylsk (Ukraine)

    2003-07-01

    The main purpose of the RADIOECOLOGY Program focuses on studying the radioecological consequences of the accident mainly in the Kyiv, Zhytomyr regions of Ukraine, Gomel, Mogilev regions of Belarus and Bryansk, Kaluga regions of Russia. The results of solutions of tasks presented below are integrated into the geographic and technical Radio Ecological Database After Chernobyl, REDAC. This database we be used for the subsequent study of the impacts, for modeling, and for the development of strategies for the waste control and counter measures. The following task of the programme are highlighted: ecological portrait; contamination; wastes dumps and operational database; radionuclide transfers from soil to plants, by surfaces run off, in aquatic environment and from plants to animals; urban environment, implying modeling transfers and countermeasures; countermeasures in natural and agricultural areas.

  10. A study on effects of cash flow patterns and auditors’ opinions in predicting financial distress

    Directory of Open Access Journals (Sweden)

    Fatemeh Namvar

    2013-07-01

    Full Text Available Bankruptcy has been one of the most important issues among investors in stock market and there are literally different techniques for predicting bankruptcy. In this paper, we study on effects of cash flow patterns and auditors’ opinions in predicting financial distress on some 80 selected firms traded on Tehran Stock Exchange over the period 2005-2011. In this study, the combination of cash flow patterns represent firm’s resource allocations and operational capabilities interacted with their strategy choices. In additions, predictions about each individual cash flow components, operational, investment, financial, are derived from economic theory, which forms a basis for the life proxy. We use cash flow patterns in the decline stage and compare the results with auditors’ opinions. The results indicate that cash flow patterns could predict financial distress companies in Iran. In addition, the effective cash flow patterns in predicting financial distress is more than auditors’ feedbacks.

  11. Fast reactor programme

    International Nuclear Information System (INIS)

    Plakman, J.C.

    1982-01-01

    This progress report summarizes the fast reactor research carried out by ECN during the period covering the year 1980. This research is mainly concerned with the cores of sodium-cooled breeders, in particular the SNR-300, and its related safety aspects. It comprises six items: A programme to determine relevant nuclear data of fission- and corrosion-products; A fuel performance programme comprising in-pile cladding failure experiments and a study of the consequences of loss-of-cooling and overpower; Basic research on fuel; Investigation of the changes in the mechanical properties of austenitic stainless steel DIN 1.4948 due to fast neutron doses, this material has been used in the manufacture of the reactor vessel and its internal components; Study of aerosols which could be formed at the time of a fast reactor accident and their progressive behaviour on leaking through cracks in the concrete containment; Studies on heat transfer in a sodium-cooled fast reactor core. As fast breeders operate at high power densities, an accurate knowledge of the heat transfer phenomena under single-phase and two-phase conditions is sought. (Auth.)

  12. The Association between Accounting Conservatism and Cash Dividends: Evidence from Emerging Markets

    OpenAIRE

    Gehan A. Mousa

    2014-01-01

    This research examines the association between accounting conservatism and cash dividends of listed firms in the Kingdom of Bahrain. It has addressed two questions. First, does accounting conservatism actually work? Second, can accounting conservatism influence cash dividends of firms in the Kingdom of Bahrain? The findings of this study support the hypothesis that accounting conservatism plays an important role in reducing cash dividends and managing agency conflicts. It documents a signific...

  13. Why do firms hold so much cash? A tax-based explanation

    OpenAIRE

    C. Fritz Foley; Jay C. Hartzell; Sheridan Titman; Garry Twite

    2006-01-01

    U.S. corporations hold significant amounts of cash on their balance sheets, and these cash holdings have been justified in the existing empirical literature by transaction costs and precautionary motives. An additional explanation, considered in this study, is that U.S. multinational firms hold cash in their foreign subsidiaries because of the tax costs associated with repatriating foreign income. Consistent with this hypothesis, firms that face higher repatriation tax burdens hold higher lev...

  14. Methodological Approach to Company Cash Flows Target-Oriented Forecasting Based on Financial Position Analysis

    OpenAIRE

    Sergey Krylov

    2012-01-01

    The article treats a new methodological approach to the company cash flows target-oriented forecasting based on its financial position analysis. The approach is featured to be universal and presumes application of the following techniques developed by the author: financial ratio values correction techniques and correcting cash flows techniques. The financial ratio values correction technique assumes to analyze and forecast company financial position while the correcting cash flows technique i...

  15. An evaluation of the usefulness of cash flow ratios to predict financial distress

    Directory of Open Access Journals (Sweden)

    L. Jooste

    2007-12-01

    Full Text Available Purpose: With the introduction of the cash flow statement it became an integral part of financial reporting. A need arose to develop ratios for the effective evaluation of cash flow information. This article investigates cash flow ratios suggested by various researchers and suggests a list of ratios with the potential to predict financial failure. Design: The cash flow ratios suggested by researchers, from as early as 1966, are investigated and eight cash flow ratios selected for inclusion in an analysis to predict financial failure. Ten failed entities are selected for a cash flow evaluation by means of the selected ratios for five years prior to failure. For a comparison, non-failed entities in similar sectors are selected and also evaluated by means of the cash flow ratios. The mean values of each ratio, for each year prior to failure, were then calculated and the means of the failed entities were compared to the non-failed entities. Findings: The comparison revealed that cash flow ratios have predictive value with the cash flow to total debt identified as the best indicator of failure. It was also determined that, although failed entities have lower cash flows than non-failed entities, they also had smaller reserves of liquid assets. Furthermore, they have less capacity to meet debt obligations and they tend to incur more debt. The ratios of the failed entities were unstable and fluctuated from one year to the next. Finally, bankruptcy could be predicted three years prior to financial failure. Implications: Income statement and balance sheet ratios are not enough to measure liquidity. An entity can have positive liquidity ratios and increasing profits, yet have serious cash flow problems. Ratios developed from the cash flow statement should supplement traditional accrual-based ratios to provide additional information on the financial strengths and weaknesses of an entity .

  16. HSE (CASHES) management in Niger Delta seismic operations

    Energy Technology Data Exchange (ETDEWEB)

    Adepoju, O.J.

    1996-12-31

    3-D seismic acquisition surveys in the Niger Delta of Nigeria, are carried out under extremely arduous field conditions due to difficult terrain, dense vegetation, semi-manual mode of operation, wildlife and volatile communities. The vegetation is a combination of evergreen tropical rain forest in the land areas and mangrove in the swamp areas. Some parts of the delta are prone to high seasonal flooding. Seismic lines are laid out by manual cutting of brush using machetes and shot holes drilled semi-manually with pumps. In order to effectively carry out the operations with due regard to the people and environment, a Community Affairs, Safety, Health, Environment and Security (CASHES) Polio and management System which ensures that a hazards are identified, assessed. controlled, with an effective loop feedback mechanism was introduced and implemented. CASHES critical activities are community relations, field security, explosives handling, water transport/journey management, river crossings. weather, shallow gas blow-out, waste management, seasonal flooding and floating-seaweed (water hyacinth)/timber logs. Environmental Impact Assessment (EIA) studies arc essential at the initial planning stages. About 41 Hazard Registers and 177 Activity Specification Sheets are developed in a typical survey. About 85% of the labor workforce are recruited from the host communities to promote cordial relations. Extensive training is carried out to raise the standards of the new recruits. The implementation of the management system is cascaded down using simplified documentation (procedures, work tasks, checklists etc.) adapted to local conditions. Integrated CASHES audits (Premob, Minor, Major. Follow up) arc conducted to check the efficiency of the system with documents getting reviewed regularly to keep the system alive and capable of handling changes. With these in place, high potential incidents are reduced/eliminated.

  17. Managing the Cash and Liquidity of the Croatian Budget

    OpenAIRE

    Anto Bajo

    2005-01-01

    The principal proposition this paper will endeavour to maintain is that the liquidity of the budget is not fully managed by the Ministry of Finance, which is why it is unable, in collaboration with the Croatian National Bank, to rein in and slow down the growth in short-term public debt. Only since 2001, thanks to institutional improvements, have the conditions been created in the Ministry of Finance for cash and liquidity management. Thus payments operations, previously in the hands of a gov...

  18. Cash flow in the context of economic equation of continuity

    Directory of Open Access Journals (Sweden)

    Fernando Gómez Villarraga

    2006-07-01

    Full Text Available The mathematic scheme, known as economic equation of continuity, is established for the balance of economic resources. In order to apply this equation it is necessary to determine an economic volume of control. The patrimonial equation is also proposed as a speed equationfor this volurne. The integral equation of economic continuity is applied to the «cash» system along with the integral patrimonial equation and so it gets expressions that correspond to model to elaborate cashflow statement with the particularities of the direct and indirect method. This model generales a useful definition for the calculation of this basic financial statement classified by operating, investing and financing activities.

  19. A new, but old business model for family physicians: cash.

    Science.gov (United States)

    Weber, J Michael

    2013-01-01

    The following study is an exploratory investigation into the opportunity identification, opportunity analysis, and strategic implications of implementing a cash-only family physician practice. The current market dynamics (i.e., increasing insurance premiums, decreasing benefits, more regulations and paperwork, and cuts in federal and state programs) suggest that there is sufficient motivation for these practitioners to change their current business model. In-depth interviews were conducted with office managers and physicians of family physician practices. The results highlighted a variety of issues, including barriers to change, strategy issues, and opportunities/benefits. The implications include theory applications, strategic marketing applications, and managerial decision-making.

  20. The Incremental Information Content of the Cash Flow Statement: An Australian Empirical Investigation

    OpenAIRE

    Hadri Kusuma

    2014-01-01

    The general objective of the present study is to investigate and assess the incremental information content of cash flow disclosures as required by the AASB 1026 ¡°Statement of Cash Flows¡±. This test addresses the issue of whether a change in cash flow components has the same relationship with security prices as that in earnings. Several previous studies indicate both income and cash flow statements may be mutually exclusive or mutually inclusive statements. The data to test three hypotheses...

  1. Pengaruh krisis keuangan global dan karakteristik perusahaan terhadap cash holding perusahaan di Indonesia

    Directory of Open Access Journals (Sweden)

    Bambang Sutrisno

    2016-12-01

    Full Text Available The aim of this study is to examine the effect of the global financial crisis and firm characteristics on corporate cash holdings in Indonesia. A total of 101 manufacturing firms listed in the Indonesia Stock Exchange from 2005 to 2014 are examined. This study employs panel regression with fixed effect model. The results show that Indonesia firms hold more cash during the global financial crisis than in the normal times. Investment opportunities set and divident payment have positive effect on cash holding, meanwhile firm size, capital expenditure, liquid assets substitutes, and leverage have negative effect on cash holding. 

  2. Growth Opportunities, Earnings Permanence and the Valuation of Free Cash Flow

    Directory of Open Access Journals (Sweden)

    Ahsan Habib

    2011-12-01

    Full Text Available This paper examines empirically the effect of firm growth opportunities and earnings quality on the market valuation of free cash flow, defined as the difference between operating cash flows and capital expenditures. Equity valuation theory prescribes that free cash flow should not be associated with stock returns because itdoes not add value. However, free cash flow could become a value-relevant construct in certain contexts. This study considers growth opportunities and transitory earnings as two such contexts and examines the valuation of free cash flow. An accounting-based valuation framework is developed where stock returns are regressed onfree cash flow interacted with growth and earnings quality proxies, after controlling for book values, dividends, and current earnings realisations. Findings reveal that firms with a positive free cash flow and attractive growth opportunities command a valuation premium. Furthermore, free cash flow is found to be positively associatedwith stock returns when earnings are transitory. The results are robust to alternative definitions of both free cash flow and growth opportunities.

  3. The psychological well-being of employees who handle cash in a bank in inner city Johannesburg.

    Science.gov (United States)

    Mutsvunguma, Patricia; Gwandure, Calvin

    2011-08-01

    The aim of the study was to compare the psychological well-being of bank employees who handled cash and those who did not. The study assessed employees' levels of work stress, burnout and life satisfaction. The Job Stress Survey Scale was used to measure work stress, Maslach Burnout Inventory was used to measure burnout and the Congruity Life Satisfaction Scale was used to measure life satisfaction. Two independent sample t tests were run on Statistical Analysis Software. The results showed that the two groups differed significantly in terms of work stress, emotional exhaustion, depersonalisation and overall burnout. The findings of this study suggest the need for organisational support, skills development and the provision of wellness programmes for bank employees.

  4. ISOLDE PROGRAMME

    CERN Multimedia

    Fedosseev, V; Herfurth, F; Scheidenberger, C; Geppert, C; Gorges, C; Ratajczyk, T; Wiederhold, J C; Vogel, S; Munch, M K; Nieminen, P; Pakarinen, J J A; Lecesne, N; Bouzomita, H; Grinyer, J; Marques moreno, F M; Parlog, M; Blank, B A; Pedroza, J; Ghetta, V; Lozeva, R; Zacarias, S M; Guillemaud mueller, D S; Cottereau, E; Cheikh mhamed, M; Tusseau nenez, S; Tungate, G; Walker, P M; Smith, A G; Fitzpatrick, C; Dominik, W M; Karny, M; Ciemny, A A; Nyman, G H; Thies, R M A; Lindberg, S K G; Langouche, G F; Velten, P; Araujo escalona, V I; Boudreau, M; Domnanich, K A; Richter, D; Lutter, R J; Javaji, A; Engel, R Y; Wiehr, S; Nacher gonzalez, E; Jungclaus, A; Ribeiro jimenez, G; Marroquin alonso, I; Cal gonzalez, J; Paziy, V; Salsac, M; Murphy, C; Podolyak, Z F; Bajoga, A D; Butler, P; Pritchard, A; Colosimo, S J; Steer, A N; Fox, S P; Wadsworth, B A; Truesdale, V L; Al monthery, M; Bracco, A; Guttormsen, M S; Badea, M N; Calinescu, S; Ujeniuc, S; Cederkall, J A; Zemlyanoy, S; Donets, E D; Golovkov, M; Schweitzer, D K; Vranicar, A; Harrichunder, S; Ncube, M; Nannini, A; Strisovska, J; Wolf, E; Gerten, R F; Lehnert, J; Rainovski, G I; Pospisil, S; Datta pramanik, U; Benzoni, G; Fedorov, D; Maier, F M; Bonanni, A; Pfeiffer, B; Griesel, T; Wehner, L W; Mikkelsen, M; Recchia, F; Lenzi, S M; Smith, J F; Kelly, C M; Acosta sanchez, L A; Chavez lomeli, E R; De melo bandeira tavares, P M; Vieira, J M; Martins da silva, M A; Lima lopes, A M; Lopes leal, T J; Mader, J; Kessler, P; Laurent, B G; Schweikhard, L C; Marx, G H; Kulczycka, E; Komorowska, M; Da silva, M F; Goncalves marques, C P; Baptista peres, M A; Welander, J E; Reiter, P; Miller, C; Martin sanchez-cano, D; Wiens, A; Blazhev, A A; Braun, N; Cappellazzo, M V; Birkenbach, B; Gerst, R; Dannhoff, M F; Sithole, M J; Bilgier, B; Nardelli, S; Araujo mendes, C M; Agramunt ros, J; Valencia marin, E; Pantea, E; Hessberger, F P; Leduc, A J; Mitsuoka, S; Carbonari, A W; Buchegger, F J; Garzon camacho, A; Dapo, H; Papka, P; Stachura, M K; Stora, T; Marsh, B A; Thiboud, J A; Heylen, H; Antalic, S; Stahl, C; Bauer, C; Thurauf, M; Maass, B; Sturm, S; Boehm, C; Wolf, N R; Ways, M; Steinsberger, T P; Riisager, K; Ruotsalainen, P A; Bastin, B; Duval, F T; Penessot, G; Flechard, X D; Desrues, P; Giovinazzo, J; Kurtukian nieto, T; Ascher, P E L; Roccia, S; Matea, I; Croizet, H A G; Bonnin, C M; Morfouace, P; Smith, A J; Guin, R; Banerjee, D; Gunnlaugsson, H P; Ohtsubo, T; Zhukov, M V; Tengborn, E A; Welker, A; Giannopoulos, E; Dessagne, P; Juscamaita vivanco, Y; Da costa pereira, L M; Hustings, J; Yu, H; Kruecken, R; Nowak, A K; Jankowski, M; Cano ott, D; Galve lahoz, P; Murphy, A S J; Shand, C M; Jones, G D; Herzberg, R; Ikin, P; Revill, J P; Everett, C; Napoli, D R; Scarel, G; Larsen, A; Tornyi, T G; Pascu, S G; Stroe, L; Toma, S; Jansson, K; Dronjak fahlander, M; Krupko, S; Hurst, A M; Veskovic, M; Nikolov, J; Masenda, H; Sibanda, W N; Rocchini, M; Klimo, J; Deicher, M; Wichert, T; Kronenberg, J; Helmke, A; Meliani, Z; Ivanov, V S; Green, B L; Keatings, J M; Kuti, I; Halasz, Z; Henry, M O; Bras de sequeira amaral, V; Espirito santo, F; Da silva, D J; Rosendahl, S; Vianden, R J; Speidel, K; Agarwal, I; Faul, T; Kownacki, J M; Martins correia, J G; Lorenz, K; Costa miranda, S M; Granadeiro costa, A R; Zyabkin, D; Kotthaus, T; Pfeiffer, M; Gironi, L; Jensen, A; Romstedt, F; Constantino silva furtado, I; Heredia cardona, J A; Jordan martin, M D; Montaner piza, A; Zacate, M O; Plewinski, F; Mesli, A; Akakpo, E H; Pichard, A; Hergemoller, F; Neu, W; Fallis starhunter, J P; Voulot, D; Mrazek, J; Ugryumov, V; Savreux, R P; Kojouharov, I M; Kern, R O; Papst, O; Fitting, J; Lauer, M; Kirsebom, O S; Jensen, K L; Jokinen, A; Rahkila, P J; Hager, U D K; Konki, J P; Dubois, M; Orr, N A; Fabian, X; Huikari, J E; Goigoux, T; Magron, C; Zakari, A A; Maietta, M; Bachelet, C E M; Roussiere, B; Li, R; Canavan, R L; Lorfing, C; Foster, R M; Gislason, H P; Shayestehaminzadeh, S; Qi, B; Mukai, M; Watanabe, Y; Willmann, L; Kurcewicz, W; Wimmer, K; Meisel, Z P; Dorvaux, O; Nowacki, F; Koudriavtsev, I; Lievens, P; Delaure, B J P; Neyens, G; Ceruti, S; Bunka, M; Vermeulen, C; Umbricht, C A; De boer, J; Podadera aliseda, I; Alcorta moreno, M; Pesudo fortes, V; Zielinska, M; Korten, W; Wang, C H; Lotay, G J; Mason, P; Rice, S J; Regan, P H; Willenegger, L M; Andreev, A; Yavuzkanat, N; Hass, M; Kumar, V; Valiente dobon, J J; Crespo campo, L; Zamfir, N - V; Deleanu, D; Clisu, C; Jeppesen, H B; Wu, C; Pain, S D; Stracener, D W; Wuosmaa, A H; Szilner, S; Colovic, P; Matousek, V; Venhart, M; Birova, M; Li, X; Stuchbery, A E; Lellep, G M; Chakraborty, S; Leoni, S; Chupp, T; Yilmaz, C; Severin, G; Garcia ramos, J E; Newton, M E; Hadinia, B; Mc glynn, E; Monteiro de sena silvares de carvalho, I; Friedag, P; Figuera, P; Koos, V; Meot, V H; Pauwels, D B; Jancso, A; Srebrny, J; Alves, E J; David bosne, E; Bengtsson, L; Kalkuehler, M; Albers, M; Bharuth-ram, K; Akkus, B; Hemmingsen, L B S; Pedersen, J T; Dos santos redondo, L M; Rubio barroso, B; Algora, A; Kozlov, V; Mavela, D L; Mokhles gerami, A; Keeley, N; Bernardo da silva, E; Unzueta solozabal, I; Schell, J; Szybowicz, M; Yang, X; Plavec, J; Lassen, J; Johnston, K; Coquard, L; Bloch, T P; Bonig, E S; Stegmann, R; Ignatov, A; Paschalis, S; Fernandez martinez, G; Schilling, M; Habermann, T; Von hahn, R; Minaya ramirez, E E; Moore, I D; Wang, Y; Saastamoinen, A J; Grahn, T; Herzan, A; Stolze, S M; Clement, E; Dijon, A; Shornikov, A; Lienard, E; Gibelin, J D; Pain, C; Canchel, G; Simpson, G S; Latrasse, L P; Huang, W; Forest, D H; Billowes, J; Flanagan, K; Strashnov, I; Binnersley, C L; Sanchez poncela, M; Simpson, J; Morrall, P S; Grant, A F; Charisopoulos, S; Lagogiannis, A; Bhattacharya, C; Olafsson, S; Stepaniuk, M; Tornqvist, H T; Heinz, A M; White iv, E R; Courtin, S; Marechal, F; Da silva fenta, A E; De lemos lima, T A; Stryjczyk, M; Dockx, K; Haller, S; Rizzi, M; Reichert, S B; Bonn, J; Thirolf, P G; Garcia rios, A R; Gugliermina, V M; Cubero campos, M A; Sanchez tembleque, V; Benito garcia, J; Senoville, M; Mountford, D J; Gelletly, W; Alharbi, T S T; Wilson, E; Rigby, S V; Andreoiu, C; Paul, E S; Harkness, L J; Judson, D S; Wraith, C; Van esbroeck, K; Wadsworth, R; Cubiss, J G; Harding, R D; Vaintraub, S; Mandal, S K; Scarpa, D; Hoff, P; Syed naeemul, H; Borcea, R; Balabanski, D L; Marginean, R; Rotaru, F; Rudolph, D; Fahlander, C H; Chudoba, V; Kay, B P; Soic, N; Naidoo, D; Veselsky, M; Kliman, J; Raisanen, J A; Dietrich, M; Maung maung than, M M T; Reed, M W; Danchev, M T; Ray, J; Roy, M; Hammen, M; Capponi, L; Veghne csatlos, M M; Fryar, J; Mirzadeh vaghefi, S P; Trindade pereira, A M; De pinho oliveira, G N; Bakenecker, A; Tramm, C; Germic, V; Morel, P A; Kowalczyk, M; Matejska-minda, M; Wolinska-cichocka, M; Ringvall moberg, A; Mantovan, R; Fransen, C H; Radeck, F; Schneiders, D W; Steinbach, T; Vibenholt, J E; Magnussen, M J; Stevnhoved, H M; Comas lijachev, V; Dasenbrock-gammon, N M; Perkowski, J; O'neill, G G; Matveev, Y; Wegner, M; Liu, Z; Perez alvarez, T; Cerato, L; Radchenko, V; Molholt, T E; Tabares giraldo, J A; Srnka, D; Dlouhy, Z; Beck, D; Werner, V R; Homm, I; Eliseev, S; Blaum, K; Probst, M B; Kaiser, C J; Martin, J A; Refsgaard, J; Peura, P J; Greenlees, P T; Auranen, K; Delahaye, P; Traykov, E K; Perez loureiro, D; Mery, A A; Couratin, C; Tsekhanovich, I; Lunney, D; Gaulard, C V; Mottram, A D; Cullen, D M; Das, S K; Van de walle, J; Mazzocchi, C; Jonson, B N G; Woehr, A; Lesher, S R; Zuber, K T; Filippin, L; De witte, H J; Van den bergh, P A M; Raabe, R; Dirkx, D; Parnefjord gustafsson, F O A; Dunlop, R A; Tarasava, K; Gernhaeuser, R A; Weinzierl, W; Berger, C; Wendt, K; Achtzehn, T; Gottwald, T; Schug, M; Rossel, R E; Dominguez reyes, R R; Fraile prieto, L M; Briz monago, J A; Koester, U H; Bunce, M R; Bowry, M D; Nakhostin, M; Shearman, R; Cresswell, J R; Joss, D T; Gredley, A; Groombridge, D; Laird, A M; Aslanoglou, X; Siem, S; Weterings, J A; Renstrom, T; Szpak, B T; Luczkowski, M J; Ghita, D; Bezbakh, A; Soltz, R A; Bollmann, J; Bhattacharya, P; Roy, S; Rahaman, M A; Wlodarski, T; Carvalho soares, J; Barzakh, A; Schertz, F; Froemmgen, N E; Liberati, V; Foy, B E; Baptista barbosa, M; Weinheimer, C P; Zboril, M; Simon, R E; Popescu, L A; Czosnyka, T; Miranda jana, P A; Leimbach, D; Naskrecki, R; Plociennik, W A; Ruchowska, E E; Chiara, C J; Walters, W; Eberth, J H; Thomas, T; Thole, P; Queiser, M T; Lo bianco, G; D'amico, F; Muller, S; Sanchez alarcon, R M; Tain enriquez, J L; Orrigo, S E A; Orlandi, R; Masango, S; Plazaola muguruza, F C; Lepareur, N G; Fiebig, J M; Ceylan, N; Wildner, E; Kowalska, M; Malbrunot, S; Garcia ruiz, R F; Pallada, S; Slezak, M; Roeckl, E; Schrieder, G H; Ilieva, S K; Koenig, K L; Amoretti, M A; Lommen, J M; Fynbo, H O U; Weyer, G O P; Koldste, G T; Madsboll, K; Jensen, J H; Nieminen, A M; Reponen, M; Villari, A; Thomas, J; Saint-laurent, M; Sorlin, O H; Carniol, B; Pereira lopez, J; Grevy, S; Plaisir, C; Marie-jeanne, M J; Georgiev, G P; Etile, A M; Le blanc, F M; Verney, D; Stefan, G I; Assie, M; Suzuki, D; Guillot, J; Vazquez rodriguez, L; Campbell, P; Deacon, A N; Ware, T; Flueras, A; Xie, L; Banerjee, K; Piersa, M; Galaviz redondo, D; Johansson, H T; Schwarz, S; Toysa, A S; Aumont, J; Van duppen, P L E; Atanasov, D; Zadvornaya, A; Renaud, M A; Xu, Z; Garrett, P E; Rapisarda, E; Reber, J A; Mattolat, C F; Raeder, S; Habs, D; Vidal, M; Perez liva, M; Calvo portela, P; Ulla pedrera, F J; Wood, R T; Lalkovski, S; Page, R; Petri, M; Barton, C J; Nichols, A J; Vermeulen, M J; Bloor, D M; Henderson, J; Wilson, G L; De angelis, G; Buerger, A; Modamio hoybjor, V; Klintefjord, M L; Ingeberg, V W; Fornal, B A; Marginean, R; Sava, T; Kusoglu, A; Suvaila, R; Lica, R; Costache, C; Mihai, R; Ionescu, A; Baeck, T M; Hoffman, C R; Sedlak, M; Koskelo, O K; Kyaw myat, K M; Gladnishki, K A; Ganguly, B; Goncalves marques, J; Cardoso, S; Seliverstov, M; Niessen, B D; Gutt, L E; Chapman, R; Spagnoletti, P N; Lopes, C; De oliveira amorim, C; Batista lopes, C M; Araujo, J; Schielke, S J; Daugas, J R; Gaudefroy, L; Chevrier, R; Szunyogh, D M; Napiorkowski, P J; Wrzosek-lipska, K; Wahl, U; Catarino, N; Pereira carvalho alves de sequeira, M; Hess, H E; Holler, A; Bettermann, L; Geibel, K; Taprogge, J; Lewandowski, L T N; Manchado de sola, F; Cakirli mutlu, R B; Das gupta, S; Thulstrup, P W; Heinz, U; Nogwanya, T; Neidherr, D M; Morales lopez, A I; Gumenyuk, O; Peaker, A R; Wakabayashi, Y; Abrahams, K J; Martin montes, E J; Mach, H A; Souza ribeiro junior, I; He, J; Chalil, A; Xing, R; Dos santos augusto, R M; Giles, T J; Dorsival, A; Trujillo hernandez, J S; Kalaninova, Z; Andel, B; Venos, D; Kraemer, J; Saha, S; Neugart, R; Eronen, T O; Kreim, K D; Heck, M K; Goncharov, M; Karthein, J; Julin, R J; Eleon, C; Achouri, N L; Grinyer, G F; Fontbonne, C M; Alfaurt, P; Lynch, K M; Wilkins, S G; Brown, A R; Imai, N; Pomorski, M J; Janiak, L; Nilsson, T; Stroke, H H; Stanja, J; Dangelser, E; Heenen, P; Godefroid, M; Mallion, S N; Gins, W A M; Stegemann, S T; Koszorus, A; Mcnulty, J F; Lin, P; Ohlert, C M; Schwerdtfeger, W; Tengblad, O; Becerril reyes, A D; Perea martinez, A; Martinez perez, M C; Margerin, V; Rudigier, M; Alexander, T D; Patel, Z V; Hammond, N; Wearing, F; Patel, A; Jenkins, D G; Corradi, L; Galtarossa, F; Debernardi, A; Giacoppo, F; Tveten, G M; Malatji, K L; Krolas, W A; Stanoiu, M A; Rickert, E U; Ter-akopian, G; Cline, D; Riihimaeki, I A; Simon, K D; Wagner, F E; Turker, M; Neef, M H; Coombes, B J; Jakubek, J; Vagena, E; Bottoni, S; Nishimura, K; Correia, J; Rodrigues valdrez, C J; Molkanov, P; Adhikari, R; Ostrowski, A N; Hallmann, O; Scheck, M; Wady, P T; Lane, J; Krasznahorkay, A J; Kunne sohler, D; Meaney, A J; Hochschulz, F; Roig, O; Behan, C C; Kargoll, S; Kemnitz, S; Carvalho teixeira, R C; Redondo cubero, A; Tallarida, G; Kaczarowski, R; Finke, F; Linnemann, A; Altenkirch, R; Saed-samii, N; Ansari, S H; Dlamini, W B; Adoons, V N; Ronning, C R; Wiedeking, M; Herlert, A J; Mehl, C V; Judge, S M; Gaertner, D; Divinskyi, S; Karabasov, M O; Zagoraios, G; Boztosun, I; Van zyl, J J; Catherall, R; Lettry, J; Wenander, F J C; Zakoucky, D; Catchen, G L; Noertershaeuser, W; Kroell, T; Leske, J; Shubina, D; Murray, I M; Pancin, J; Delaunay, F; Poincheval, J J L; Audirac, L L; Gerbaux, M T; Aouadi, M; Sole, P G P; Fallot, M P; Onillon, A; Duchemin, C; Formento cavaier, R; Audi, G; Boukhari, A; Lau, C; Martin, J A; Barre, N H; Berry, T A; Procter, T J; Bladen, L K; Axiotis, M; Muto, S; Jeong, S C; Hirayama, Y; Korgul, A B; Minamisono, K; Bingham, C R; Aprahamian, A; Bucher, B M; Severijns, N; Huyse, M L; Ferrer garcia, R; Verlinde, M N S; Romano, N; Maugeri, E A; Klupp, S C; Dehn, M H; Heinke, R M; Naubereit, P; Maira vidal, A; Vedia fernandez, M V; Ibanez garcia, P B; Bruyneel, B J E; Materna, T; Hadynska-klek, K; Al-dahan, N; Alazemi, N; Carroll, R J; Babcock, C; Patronis, N; Eleme, Z; Dhal, A; Sahin, E; Goergen, A; Maj, A; Bednarczyk, P A; Borcea, C; Negoita, F; Suliman, G; Marginean, N M; Sotty, C O; Negret, A L; Nae, S A; Nita, C; Golubev, P I; Knyazev, A; Jost, C U; Petrik, K; Vaeyrynen, S A; Dracoulis, G D; Uher, J; Fernandez dominguez, B; Chakraborty, P; Avigo, R; Falahat, S; Lekovic, F; Dorrer, H J; Mengoni, D; Derkx, X; Angus, L J; Sandhu, K S; Gregor, E; Kelly, N A; Byrne, D J; Haas, H; Lourenco, A A; Sousa pereira, S M; Sousa, J B; De melo mendonca, T M; Tavares de sousa, C; Guerreiro dos santos oliveira custodio, L M; Da rocha rodrigues, P M; Yamaguchi, T; Thompson, P C; Rosenbusch, M; Wienholtz, F; Fischer, P; Iwanicki, J S; Rusek, K M; Hanstorp, D; Vetter, U; Wolak, J M; Park, S H; Warr, N V; Doornenbal, P C; Imig, A; Seidlitz, M; Moschner, K; Vogt, A; Kaya, L; Martel bravo, I; Orduz, A K; Serot, O; Majola, S N; Litvinov, Y; Bommert, M; Hensel, S; Markevich, V; Nishio, K; Ota, S; Matos, I; Zenkevich, A; Picado sandi, E; Forstner, O; Hu, B; Ntshangase, S S; Sanchez-segovia, J

    2002-01-01

    The experiments aim at a broad exploration of the properties of atomic nuclei far away from the region of beta stability. Furthermore, the unique radioactive beams of over 60~elements produced at the on-line isotope separators ISOLDE-2 and ISOLDE-3 are used in a wide programme of atomic, solid state and surface physics. Around 300 scientists are involved in the project, coming from about 70 laboratories. \\\\ \\\\ The electromagnetic isotope separators are connected on-line with their production targets in the extracted 600 MeV proton or 910~MeV Helium-3 beam of the Synchro-Cyclotron. Secondary beams of radioactive isotopes are available at the facility in intensities of 10$^1

  5. Adult and adolescent livestock productive asset transfer programmes to improve mental health, economic stability and family and community relationships in rural South Kivu Province, Democratic Republic of Congo: a protocol of a randomised controlled trial.

    Science.gov (United States)

    Kohli, Anjalee; Perrin, Nancy A; Remy, Mitima Mpanano; Alfred, Mirindi Bacikenge; Arsene, Kajabika Binkurhorhwa; Nadine, Mwinja Bufole; Heri, Banyewesize Jean; Clovis, Mitima Murhula; Glass, Nancy

    2017-03-14

    People living in poverty have limited access to traditional financial institutions. Microfinance programmes are designed to meet this gap and show promise in improving income, economic productivity and health. Our Congolese-US community academic research partnership developed two livestock productive asset transfer programmes, Pigs for Peace (PFP) and Rabbits for Resilience (RFR), to address the interlinked health, social and economic well-being of individuals, their families and communities. The community-based randomised controlled trials examine the effectiveness of PFP and RFR to improve health, economic stability, and family and community relationships among male and female adults and adolescents living in 10 rural, postconflict villages of eastern Democratic Republic of Congo. PFP participants include adult permanent residents of rural villages; adolescent participants in RFR include male and female adolescents 10-15 years old living in the selected rural villages. Participants were randomised to intervention or delayed control group. Participants in PFP completed baseline interview prior to intervention and follow-up interview at 6, 12 and 18 months postintervention. In RFR, participants completed baseline interview prior to intervention and follow-up interview at 6, 12 and 18 months postbaseline. The primary outcome of both trials, the change in baseline mental health distress at 18 months in the intervention group (adults, adolescents) compared to control group, is used to calculate sample size. The Johns Hopkins Medical Institute Internal Review Board approved this protocol. A committee of respected Congolese educators and community members (due to lack of local ethics review board) approved the study. The findings will provide important information on the potential for community-led sustainable development initiatives to build on traditional livelihood (livestock raising, agriculture) to have a sustained health, economic and social impact on the

  6. The rise and fall of cash for care in Norway: changes in the use of child-care policies

    Directory of Open Access Journals (Sweden)

    Brita Bungum

    2013-03-01

    Full Text Available Normal 0 21 false false false NO-BOK X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi; mso-fareast-language:EN-US;} The cash-for-care scheme was introduced in 1998 in Norway. During the first period after its introduction, the percentage of users was high at 91 per cent. Since 2005, however, the use has decreased substantially year by year. Thus, the use of cash for care has changed over the 15 years it has existed. In this article we take these changes as our point of departure and analyse more closely what we might call ‘the rise and fall of the cash-for-care scheme’ in Norway. Over the last 15 to 20 years, Norway has become a multicultural society and we need to include ethnicity when conducting research in the field of family policy. The focus is therefore on the intersection of gender, class, and ethnicity in parents’ use of cash for care over this period. Our analysis is based on different sources of data. We have used data from the evaluative programme undertaken by the Norwegian Research Council, including two surveys conducted before and after the reform (Gulbrandsen & Hellevik, 1998; Hellevik, 2000, and a qualitative case study focusing on fathers and mothers working in three different workplaces (Bungum et al. 2001. We have also used three other statistical studies which were carried out at two different points in time (Pettersen

  7. Soft currencies, cash economies, new monies: past and present.

    Science.gov (United States)

    Guyer, Jane I

    2012-02-14

    Current variation in the forms of money challenges economic anthropologists and historians to review theory and comparative findings on multiple currency systems. There are four main sections to the paper devoted to (i) the present continuum of hard to soft currencies as an instance of multiplicity, including discussion of different combinations of the classic four functions of money, especially the relationship between store of value and medium of exchange; (ii) the logic of anthropological inquiry into multiple currency economies; (iii) the case of the monies of Atlantic Africa, applying the analytics of exchange rates as conversions to African transactions; and (iv) the return to economic life in a present day Nigerian economy lived in soft currency and cash. The paper identifies five findings that suggest foci for future research. (i) The widespread occurrence of conversions, which bring together ranking principles within transactions. (ii) Several types of positional ranking ranging from simple stepwise ordinal scales to iconic ordinality that creates a parabolic curve of value. (iii) Fictional units of account that serve to mediate both the memorization of nonreductive transactions and their nature as conversions. (iv) The importance of the temporal reach of what constitutes wealth: over the short run, the life span, intergenerational succession, and in (legal) perpetuity (as for corporate and sovereign debts and specified assets). (v) The social niches in which these qualities are brought together in transactional regimes. In conclusion, the paper returns to the exchange function of cash, soft currencies, and new money forms.

  8. Technology programme

    International Nuclear Information System (INIS)

    2007-01-01

    The technology activities carried out by the EURATOM-ENEA Association concern the continuation of the European Fusion Development Agreement (EFDA) as well as the ITER activities coordinated by the ITER International Office and Fusion for Energy. Also included in the activities are design and RD under the Broader Approach Agreement between the EU and Japan. In order to better contribute to the programme a number of consortium agreements among the Associations are being signed. Collaboration with industries in view of their participation in the construction of ITER was further strengthened, mainly in the field of magnet and divertor components. The new European Test Blanket Facility at ENEA Brasimone was completed; the design of the ITER radial neutron camera was optimised and the performance achievable with the in-vessel viewing system was further assessed by experimental trials. Design activities for the JT-60SA magnet and power supply system as well as the design and experimental activities related to the target of the International Fusion Materials Irradiation Facility were continued. Significant work was done to define quality assurance for neutronics analyses. Mockups of the ITER pre-compression ring made in glass fibre epoxy were tested. The activities and results documented in the following illustrate ENEA's efforts to support fusion development

  9. 17 CFR 240.3b-14 - Definition of cash management securities activities.

    Science.gov (United States)

    2010-04-01

    ... derivative instruments or other financial instruments; (b) Cash management, in connection with any securities... § 240.15a-1 or any non-securities activities that involve eligible OTC derivative instruments or other... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Definition of cash management...

  10. Cross section of equity returns and assets’ fundamental cash-flow risk

    NARCIS (Netherlands)

    Galsband, V.

    2010-01-01

    The decomposition of consumption beta into a component driven by assets' cash-flow news and one related to assets' discount-rate news reveals that macroeconomic risks embodied in cash flows largely account for the cross-sectional dynamics of average stock returns. Empirically, we find that

  11. 45 CFR 400.50 - Opportunity to apply for cash assistance.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 2 2010-10-01 2010-10-01 false Opportunity to apply for cash assistance. 400.50 Section 400.50 Public Welfare Regulations Relating to Public Welfare OFFICE OF REFUGEE RESETTLEMENT, ADMINISTRATION FOR CHILDREN AND FAMILIES, DEPARTMENT OF HEALTH AND HUMAN SERVICES REFUGEE RESETTLEMENT PROGRAM Refugee Cash Assistance § 400.50...

  12. 75 FR 9491 - Proposed Information Collection (Application for Cash Surrender or Policy Loan) Activity: Comment...

    Science.gov (United States)

    2010-03-02

    ....S.C. 3501-21), Federal agencies must obtain approval from the Office of Management and Budget (OMB... (Application for Cash Surrender or Policy Loan) Activity: Comment Request AGENCY: Veterans Benefits... to determine a claimant's eligibility for a loan or cash surrender value on his or her Government...

  13. Implementation of Treasury Single Account and Strengthening of Cash Management in Vietnam

    OpenAIRE

    World Bank

    2014-01-01

    Vietnam has made progress to improve oversight and control over cash balances for the state budget. The current arrangement however falls short of a treasury single account (TSA), which has led to inefficiencies in the management of cash balances and higher than necessary borrowing costs. In response to this, the Government of Vietnam has embarked on reforms to adopt a TSA and strengthen o...

  14. 78 FR 48941 - Agency Information Collection (Application for Cash Surrender or Policy Loan) Activities: Under...

    Science.gov (United States)

    2013-08-12

    ... the Office of Management and Budget (OMB) for review and comment. The PRA submission describes the... (Application for Cash Surrender or Policy Loan) Activities: Under OMB Review AGENCY: Veterans Benefits... ``OMB Control No. 2900-0012.'' SUPPLEMENTARY INFORMATION: Titles: a. Application for Cash Surrender...

  15. 75 FR 26346 - Agency Information Collection (Application for Cash Surrender or Policy Loan) Activities: Under...

    Science.gov (United States)

    2010-05-11

    ... abstracted below to the Office of Management and Budget (OMB) for review and comment. The PRA submission... (Application for Cash Surrender or Policy Loan) Activities: Under OMB Review AGENCY: Veterans Benefits...: Titles: a. Application for Cash Surrender, Government Life Insurance, VA Form 29-1546. b. Application for...

  16. 78 FR 18426 - Proposed Information Collection (Application for Cash Surrender or Policy Loan) Activity: Comment...

    Science.gov (United States)

    2013-03-26

    ... obtain approval from the Office of Management and Budget (OMB) for each collection of information they... (Application for Cash Surrender or Policy Loan) Activity: Comment Request AGENCY: Veterans Benefits... to determine a claimant's eligibility for a loan or cash surrender value on his or her Government...

  17. Investment cash flow sensitivity and financing constraints : New evidence from Indian business group firms

    NARCIS (Netherlands)

    George, R.; Kabir, Mohammed Rezaul; Qian, J.

    2011-01-01

    A controversy exists on the use of the investment–cash flow sensitivity as a measure of financing constraints of firms.Were-examine this controversy by analyzing firms affiliated to Indian business groups. We find a strong investment–cash flow sensitivity for both group-affiliated and independent

  18. 24 CFR 511.75 - Disbursement of rental rehabilitation grant amounts: Cash and Management Information System.

    Science.gov (United States)

    2010-04-01

    ... rehabilitation grant amounts: Cash and Management Information System. 511.75 Section 511.75 Housing and Urban... rehabilitation grant amounts: Cash and Management Information System. (a) General. Rental Rehabilitation grants.... Any drawdown is conditioned upon the submission of satisfactory information by the grantee or State...

  19. A Conceptual Framework for the Indirect Method of Reporting Net Cash Flow from Operating Activities

    Science.gov (United States)

    Wang, Ting J.

    2010-01-01

    This paper describes the fundamental concept of the reconciliation behind the indirect method of the statement of cash flows. A conceptual framework is presented to demonstrate how accrual and cash-basis accounting methods relate to each other and to illustrate the concept of reconciling these two accounting methods. The conceptual framework…

  20. DETERMINANTS OF RURAL FARMERS PREFERENCE FOR CASH-LESS TRANSACTIONS IN IMO STATE

    Directory of Open Access Journals (Sweden)

    Igwe Ikenna UKOHA

    2017-04-01

    Full Text Available The preference for cash-less transaction by Nigerians cannot be exaggerated, but despite its patronage, there exist limited access and utilization of the cash-less technologies among farmers in South-East Nigeria. The study analysed the determinants of rural farmers’ preference for cash-less transactions in Imo state, South-East Nigeria. Multi-stage sampling technique was employed in selection of 100 farmers for the study. The determinant of rural farmers’ preference for cash-less transactions in Imo State, was achieved using logit model. The result of the analysis showed that age (5%, gender (10% education levels of the farmers (1%, user friendliness of technologies (5%, transaction charge (5% and security of transactions (5% were found to be the major determinants of farmers preference for cash-less transactions based on their levels of significance. Centred on the findings, the study recommended the strengthening of the use of cash-less transaction by farmers by providing a favourable financial environment through better orientation programs, so as to enable a smooth transition from a cash-based economy to cash-less economy.

  1. An Analysis Regarding Cash Holdings. Empirical Study on the Bucharest Stock Exchange Listed Firms

    Directory of Open Access Journals (Sweden)

    Nenu Elena Alexandra

    2017-10-01

    Full Text Available Worldwide corporate cash holdings have significantly increased and have become an important tool for managers. This study explores the factors that influence firms’ behavior regarding cash holdings and the signal that financial conservatism is sending to potential investors. Our data consists in annual observations collected through the Reuters Eikon platform. It includes companies listed on the Bucharest Stock Exchange, the investigated period being 2005-2014. The econometric analysis employs multivariate regression for an unbalanced panel data, using the OLS technique. The results show a positive correlation of cash holdings with the value registered by this indicator in the previous period, fact that might be interpreted as an attempting of the companies to maintain a target level of cash. Also, the results showed a non-linear relationship between leverage and cash holdings, while the tangible assets determine a negative correlation. As regards firm size and ownership concentration, the correlations were not statistically validated.

  2. Problems with Cash and Other Non-Operating Assets Value in the Process of Valuing Company

    Directory of Open Access Journals (Sweden)

    Piotr Szczepankowski

    2007-12-01

    Full Text Available In economic practice the process of valuing enterprises is based on potential earnings from companies operating assets ñ operating fixed assets and operating working capital. Cash and other non-operating assets (mainly financial are treated as unproductive, non-income assets. Eventually, in process of pricing their current, accounting value is added to income value of enterprise or cash is treated as source for quick covering the debts of firm, what of course indirectly improve for better value of equity (the lower financial risk. Not taking into account the profitable influence of cash value and other non-operating assets can negatively affect on result of final value of enterprise, reducing it. In the article two alternative approaches (separate and inclusive of cash value is presented. Also main determinants of estimating value of cash are described as well as potential threats of its valuation.

  3. Operating Cash Flow, Earning Response Coefficient, and Fixed Asset Revaluation: Study on Manufacturing Company

    Directory of Open Access Journals (Sweden)

    Andison Andison

    2017-03-01

    Full Text Available The purpose of this study to determine the effect of operating cash flow to the abnormal return and the effect of operating cash flow to the abnormal return of companies that conduct the revaluation is higher than that of non revaluation which adopted SFAS No. 16 (2012. The analysis used in this study are multiple regression, for the period 2012-2015. The results showed that operating cash flow has no effect on non-sampled companies revaluation, while the sample of firms that perform revaluation proves that operating cash flow has a positive and significant impact on the abnormal return. Moreover, the effect of revaluation policy can strengthen the influence between operating cash flow to the firm abnormal return than non revaluation.DOI: 10.15408/etk.v16i1.4820

  4. Cash Management Policies By Evolutionary Models: A Comparison Using The MILLER-ORR Model

    Directory of Open Access Journals (Sweden)

    Marcelo Botelho da Costa Moraes

    2013-10-01

    Full Text Available This work aims to apply genetic algorithms (GA and particle swarm optimization (PSO to managing cash balance, comparing performance results between computational models and the Miller-Orr model. Thus, the paper proposes the application of computational evolutionary models to minimize the total cost of cash balance maintenance, obtaining the parameters for a cash management policy, using assumptions presented in the literature, considering the cost of maintenance and opportunity for cost of cash. For such, we developed computational experiments from cash flows simulated to implement the algorithms. For a control purpose, an algorithm has been developed that uses the Miller-Orr model defining the lower bound parameter, which is not obtained by the original model. The results indicate that evolutionary algorithms present better results than the Miller-Orr model, with prevalence for PSO algorithm in results.

  5. Association of market, mission, operational, and financial factors with hospitals' level of cash and security investments.

    Science.gov (United States)

    McCue, M J; Thompson, J M; Dodd-McCue, D

    Using a resource dependency framework and financial theory, this study assessed the market, mission, operational, and financial factors associated with the level of cash and security investments in hospitals. We ranked hospitals in the study sample based on their cash and security investments as a percentage of total assets: hospitals in the high cash/security investment category were in the top 25th percentile of all hospitals; those in the low cash/security investment group were in the bottom 25th percentile. Findings indicate that high cash/security investment hospitals are under either public or private nonprofit ownership and have greater market share. They also serve more complex cases, offer more technology services, generate greater profits, incur a more stable patient revenue base, and maintain less debt.

  6. Country programme review Bangladesh

    International Nuclear Information System (INIS)

    Kamel, R.; Maluszynski, Y.; Maudarbocus, Y.; Cherif, H.S.; Morre, P.

    1993-12-01

    A five-expert mission was organized from 21-26 August 1993 and this document reflects the findings and recommendations of the team. Intensive contacts with heads of institutions, scientists and decision making persons in various sectors in the country were co-ordinated by the Bangladesh Atomic Energy Commission. The terms of reference of the mission were: To assess the on-going TC projects; to assist the Bangladesh nationals to finalize the formulation of the new requests for 1995-96 TC programme and to establish priority areas with regard to the introduction of national projects involving accelerated technological transfer in order to catalyze national development plans in specific areas; to examine institutional framework suitable for the introduction of these priority nuclear techniques

  7. Programmable ferroelectric tunnel memristor

    Directory of Open Access Journals (Sweden)

    Andy eQuindeau

    2014-02-01

    Full Text Available We report an analogously programmable memristor based on genuine electronic resistive switching combining ferroelectric switching and electron tunneling. The tunnel current through an 8 unit cell thick epitaxial Pb(Zr[0.2]Ti[0.8]O[3] film sandwiched between La[0.7]Sr[0.3]MnO[3] and cobalt electrodes obeys the Kolmogorov-Avrami-Ishibashi model for bidimensional growth with a characteristic switching time in the order of 10^-7 seconds. The analytical description of switching kinetics allows us to develop a characteristic transfer function that has only one parameter viz. the characteristic switching time and fully predicts the resistive states of this type of memristor.

  8. Cash Accountability in the Department of Defense, for the Imprest Fund Maintained at the Defense Logistics Agency, Sharonsville, Ohio

    National Research Council Canada - National Science Library

    McKinney, Terry

    1994-01-01

    Our objectives were to verify the accountability for cash and related assets and to evaluate the adequacy of procedures used to determine the accuracy of records used to support cash accountability...

  9. METHODOLOGICAL APPROACHES TO THE ANALYSIS OF EFFICIENCY OF CASH FLOW MANAGEMENT IN INVESTMENT ACTIVITY OF THE ENTERPRISES

    Directory of Open Access Journals (Sweden)

    I. Magdych

    2015-06-01

    Full Text Available The article explores the methodological approaches to the analysis of cash flows in investment activity of the enterprise; the system of motion net cash flows, reflecting the impact of cash management efficiency on the amount and source of investment cash flows of the enterprise; analytical model of definition of effectiveness of cash management of the enterprise is proposed, based on the selected principals of modeling, comprehensive analysis of cash flows in investing activities and their optimization for the purpose of maximization of social and economic benefit. The research performed here allowed generalization and definition of stages of analysis for investing cash flow of the enterprise with the appropriate reasoning. It is necessary that research is going concern in this direction of effectiveness valuation of cash flow management in investing activity of the enterprise.

  10. A survival programme

    International Nuclear Information System (INIS)

    Vester, F.

    1978-01-01

    The book is a non-speculative information source on ecological problems and their possible solutions. It is a 'programme' from a twofold point of view: it determines political and scientific-technological objectives and it transfers knowledge by mental steps with techniques of programmed instruction. Thus emphasis is laid on detailed problems, especially by conscionsly challenged redundancies, and, on the other hand, a greater context is presented. Selected facts are examined under their different aspects, interactions and control circuits are described. Each chapter will speak for itself after the introduction has been read but is related to other chapters by cross references, illustrative material, a glossary and a comprehensive list of references. The 'Survival Programme' is a realistic and challenging discussion with the problem of 'Ecology in the Industrial Age'. It adresses scientists from various disciplines but also offers itself as a compendium to laymen in search of information, members of citizens initiatives and responsible representants of the political and industrial world. (orig./HP) [de

  11. 40 CFR 35.3565 - Specific cash draw rules for authorized types of assistance from the Fund.

    Science.gov (United States)

    2010-07-01

    ... the following rules: (a) Loans—(1) Eligible project costs. A State may draw cash based on the... associated pre-project costs, cash may be drawn immediately upon execution of the loan agreement. (2) Eligible project reimbursement costs. A State may draw cash to reimburse assistance recipients for eligible...

  12. Paramedir: A Tool for Programmable Performance Analysis

    Science.gov (United States)

    Jost, Gabriele; Labarta, Jesus; Gimenez, Judit

    2004-01-01

    Performance analysis of parallel scientific applications is time consuming and requires great expertise in areas such as programming paradigms, system software, and computer hardware architectures. In this paper we describe a tool that facilitates the programmability of performance metric calculations thereby allowing the automation of the analysis and reducing the application development time. We demonstrate how the system can be used to capture knowledge and intuition acquired by advanced parallel programmers in order to be transferred to novice users.

  13. National programme: Finland

    International Nuclear Information System (INIS)

    Forsten, J.

    1986-01-01

    Finland's programmes in the field of reactor pressure components are presented in this paper. The following information on each of these programmes is given: the brief description of the programme; the programme's schedule and duration; the name of the project manager

  14. Valuation of Index-Linked Cash Flows in a Heath–Jarrow–Morton Framework

    Directory of Open Access Journals (Sweden)

    Jonas Alm

    2015-09-01

    Full Text Available In this paper, we study the valuation of stochastic cash flows that exhibit dependence on interest rates. We focus on insurance liability cash flows linked to an index, such as a consumer price index or wage index, where changes in the index value can be partially understood in terms of changes in the term structure of interest rates. Insurance liability cash flows that are not explicitly linked to an index may still be valued in our framework by interpreting index returns as so-called claims inflation, i.e., an increase in claims cost per sold insurance contract. We focus primarily on the case when a deep and liquid market for index-linked contracts is absent or when the market price data are unreliable. Firstly, we present an approach for assigning a monetary value to a stochastic cash flow that does not require full knowledge of the joint dynamics of the cash flow and the term structure of interest rates. Secondly, we investigate in detail model selection, estimation and validation in a Heath–Jarrow–Morton framework. Finally, we analyze the effects of model uncertainty on the valuation of the cash flows and how forecasts of cash flows and interest rates translate into model parameters and affect the valuation.

  15. Education, Training and the Euratom Framework Programme

    International Nuclear Information System (INIS)

    Jouve, A.; Van Goethem, G.; )

    2009-01-01

    The maintaining of knowledge implies education and training programmes that ensure not only the instruction of students and trainees but also the transfer of knowledge across generations. This is especially important for research in the Euratom field in the present context of nuclear renaissance. DG-Research is responsible for the implementation of the Euratom Framework Programme on nuclear research and training. Through these activities, it is striving to promote the integration of national radiation protection research programmes in Europe, including education and training in radiation protection. These education and training activities supported in the Euratom Programme are helping to establish top-quality teaching modules assembled into masters programmes or higher-level training packages jointly qualified and mutually recognised across the EU. This Euratom approach is entirely in line with the Bologna process. This paper presents and discusses the various actions in education and training in radiation protection supported by DG- Research. (authors)

  16. Effects of Organisational Characteristics on Contractors’ Construction Cash Flow Forecasting Capabilities

    Directory of Open Access Journals (Sweden)

    Muhammad Abdullahi

    2017-01-01

    Full Text Available Inadequate cash resources resulting from poor cash flows have been among the fundamental causes of construction project failures. Despite the panoply of cash flow forecasting (CFF tools, the cash flow performance of many construction firms have been reported to be poor due weak Cash flow forecasting (CFF process capabilities influenced by a couple of organisational characteristics. Although these organisational characteristics have been reported to significantly influence firms’ CFF process capabilities, the underlying mechanisms of how these organisational features and characteristics exhibit their specific influences on the cash flow forecasting capabilities of construction firms still remains underexplored. Therefore, this study aims at empirically exploring the influence of some organisation characteristics on the CFF process capabilities of construction firms. Best practices in CFF identified from the Royal Institute of Chartered Surveyors (RICS Cash Flow Forecasting (CFF guide were used to develop an assessment criteria used to assess the CFF capabilities of construction firms. The assessment was conducted through a questionnaire survey involving contracting organisations involved in both building and civil engineering works in Nigeria. The key best practices in CFF were ranked based on arithmetic mean value scores and averages were also determined for each of the four CFF components assessed (Knowledge and understanding CFF concepts and principles, Practical application, Practical considerations, and other Managerial issues. Hierarchical regression analysis was then used to examine the relationships between contractors’’ CFF process capabilities and some organisational characteristics. Results of the study reveals that organisational characteristics are strongly associated to firms’ abilities to prudently manage cash flows. The results of this study could serve as a basis for the strategic planning and improvement of Cash Flow

  17. Using cash to monitor liquidity: Implications for payments, currency demand and withdrawal behavior

    OpenAIRE

    von Kalckreuth, Ulf; Schmidt, Tobias; Stix, Helmut

    2011-01-01

    Standard transaction cost arguments can only partially explain why the share of cash transactions is still high in many countries. This paper shows that consumers’ desire to monitor liquidity is one of the reasons. Consumers make use of a distinctive feature of cash – a glance into one’s pocket provides a signal for both the remaining budget as well as the level of past expenses. We propose a theoretical framework which incorporates this feature of cash, and derives implications not only for ...

  18. Potential dividends and actual cash flows in equity valuation. A critical analysis1

    Directory of Open Access Journals (Sweden)

    Ignacio Vélez-Pareja

    2009-10-01

    Full Text Available Practitioners and most academics in valuation include changes in liquid assets (potential dividends in the cash flows. This widespread and wrong practice is inconsistent with basic finance theory. We present economic, theoretical, and empirical arguments to support the thesis. Economic arguments underline that only flows of cash should be considered for valuation; theoretical arguments show how potential dividends lead to contradiction and to arbitrage losses. Empirical arguments, from recent studies, suggest that investors discount potential dividends with high discount rates, which means that changes in liquid assets are not value drivers. Hence, when valuing cash flows, we should consider only actual payments.

  19. Valuation of index-linked cash flows in a Heath-Jarrow-Morton framework

    OpenAIRE

    Alm, Jonas; Lindskog, Filip

    2015-01-01

    In this paper, we study the valuation of stochastic cash flows that exhibit dependence on interest rates. We focus on insurance liability cash flows linked to an index, such as a consumer price index or wage index, where changes in the index value can be partially understood in terms of changes in the term structure of interest rates. Insurance liability cash flows that are not explicitly linked to an index may still be valued in our framework by interpreting index returns as so-called claims...

  20. EXCESS CASH HOLDINGS DAN KEPEMILIKAN INSTITUSIONAL PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

    Directory of Open Access Journals (Sweden)

    Yessica Tria Christina

    2014-02-01

    Full Text Available This research provides an empirical evidence about the effect of institutional ownerships as a proxy of information transparancy on excess cash holdings. Manufacture companies listed on BEI from years 2002 to 2011 are employed. The results show that the higher the proportion of institutional ownership, the lower the excess cash holdings. Informational transparancy, as one of the requirements of good corporate governance, can in fact lower the chance of aggrevating the manager’s behavior to practice excess cash holdings that can lower the company’s efficiency.

  1. Investigating the persistence of earnings components and pricing test of abnormal changes in cash

    Directory of Open Access Journals (Sweden)

    Yaser Ahmadi

    2013-03-01

    Full Text Available This paper investigates the persistence of earnings components and pricing test of abnormal changes in cash for selected firms listed on Tehran Stock Exchange (TSE. The proposed study gathers the necessary data from 166 firms over the period 2004-2012 from firms whose shares were actively traded on TSE market. The study uses Panel data and with the implementation of linear regression technique examines four hypotheses. The results indicate that abnormal negative changes in cash are more persistence than positive abnormal changes. In addition, both positive and negative abnormal changes are more persistence than accruals. Market also has a good perception on abnormal positive and negative changes in cash.

  2. Cash transfers, children and the crisis : protecting current and future investments

    OpenAIRE

    Fiszbein, Ariel; Ringold, Dena; Srinivasan, Santhosh

    2011-01-01

    Developing countries have responded to the multiple shocks from the food, fuel and finance crises of 2008-2009 with a mix of responses aimed at both mitigating the immediate impacts of the crises on households (and particularly children), and protecting future investments in human capital. While some countries have introduced new safety net programs, others have modified and/or expanded ex...

  3. Real options valuation of fusion energy R and D programme

    International Nuclear Information System (INIS)

    Bednyagin, Denis; Gnansounou, Edgard

    2011-01-01

    This paper aims to perform a real options valuation of fusion energy R and D programme. Strategic value of thermonuclear fusion technology is estimated here based on the expected cash flows from construction and operation of fusion power plants and the real options value arising due to managerial flexibility and the underlying uncertainty. First, a basic investment option model of Black-Scholes type is being considered. Then, a fuzzy compound real R and D option model is elaborated, which reflects in a better way the multi-stage nature of the programme and takes into account the imprecision of information as one of the components of the overall programme uncertainty. Two different strategies are compared: 'Baseline' corresponding to a relatively moderate pace of fusion research, development, demonstration and deployment activities vs. 'Accelerated' strategy, which assumes a rapid demonstration and massive deployment of fusion. The conclusions are drawn from the model calculations regarding the strategic value of fusion energy R and D and the advantages of accelerated development path. - Research highlights: → Real options analysis of fusion R and D, demonstration and deployment (RDDD) programme. → ENPV of fusion RDDD programme is calculated using stochastic probabilistic simulation. → Fusion RDDD programme exhibits substantial positive real options value: Euro 245 billion. → Fuzzy compound real option valuation method provides more robust results.

  4. Cash grants in humanitarian assistance: a nongovernmental organization experience in Aceh, Indonesia, following the 2004 Indian Ocean Tsunami.

    Science.gov (United States)

    Doocy, Shannon; Johnson, Diane; Robinson, Courtland

    2008-06-01

    Historically, cash interventions, as opposed to material or in-kind aid, have been relatively uncommon in the humanitarian response to emergencies. The widespread implementation of cash-based programs following the 2004 Indian Ocean tsunami provided an opportunity to examine cash distributions following disasters. The Mercy Corps cash grant program in Aceh, Indonesia, was a short-term intervention intended to assist in recompensing losses from the December 2004 tsunami. An evaluation of the Mercy Corps cash grant program was conducted for the 12-month period following the tsunami using program monitoring data and a systematic survey of cash grant beneficiaries. in 2005, the cash grant program disbursed more than US$3.3 million to more than 53,000 beneficiaries; the average cash grant award was US$6390, which was shared by an average of 108 beneficiaries. In a beneficiary survey, more than 95% of respondents reported the grant allocation processes were fair and transparent and that grant funds were received. The Mercy Corps experience with cash programs suggests that cash interventions in the emergency context, when properly administered, can have an immediate impact and serve as an efficient mechanism for providing assistance. Organizations involved in humanitarian relief, particularly donors and nongovernmental organizations, should consider incorporating cash-based interventions as an element of their response in future emergencies.

  5. A study on relationship between earnings management and operating cash flows management: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Bahman Banimahd

    2013-06-01

    Full Text Available This study investigates the impact of earnings management on operating cash flows management over the period 2004-2011 using the information of 119 firms listed on the Tehran Stock Exchange. Results indicate that there is a meaningful relationship between earnings management and operating cash flows management. In other words, earnings management creates and shapes operating cash flows management. In addition, after controlling for the loss reporting, firm size and firm's financial risk, the results show that there was a relationship between loss reporting and firm size with the cash flows management. When firms report loss, then operating cash flows increases. Finally, operating cash flows decreases when firm size increases. However, our survey does not provide any evidence to believe there is any relationship between financial risk and cash flows management.

  6. Small farms, cash crops, agrarian ideals, and international development.

    Science.gov (United States)

    Effland, Anne

    2010-01-01

    This address is an exploration of a lifetime of disparate and often conflicting observations about how different people view what is right and good for agriculture, food, and farmers around the world. The exploration utilizes the concept of wicked problems to focus on the issue of differing historical interpretations of global agricultural development. Sandra Batie defines wicked problems as "dynamically complex, ill-structured, public problems" for which "there can be radically different views and understanding of the problem by different stakeholders, with no unique 'correct' view." The wicked problem construct is applied to four core ideas in the history of agricultural development -- small farms, cash crops, agrarian ideals, and international development -- to demonstrate the potential for using this concept to approach complex problems of historical interpretation and contribute to solutions to the challenges of global agricultural development. The author suggests historians should acknowledge contradictory interpretations adn work toward reconciliation and synthesis, where it is possible and, where not, toward a clear explication of the basis for remaining differences. The author also encourages historians to seek multidisciplinary research opportunities that will help bring insights about historical context to policy deliberations.

  7. The Earnings Management Motivation: Accrual Accounting vs. Cash Accounting

    Directory of Open Access Journals (Sweden)

    Sandeep Goel

    2016-09-01

    Full Text Available The Accrual basis of accounting has always found favour amongst corporate practitioners of earnings management. There have been extensive studies on earnings management, focusing on earnings hazards. This paper contributes to the literature by showing market inclination to accrual basis of accounting as motivated by a desire for earnings management. It analyzes the sample units’ performance in regard to accrual-indicators vs. cash-indicators and their pervasiveness on stock pricing in India. In India, the corporate ownership model is the Promoter Dominated Shareholders Model (PDSHM which makes this study unique in highlighting earnings management motivation. The units show a market preference for accrual numbers and motivation for earnings management as clear in their stock pricing behavior. I hope the study improves investors’ perception of the reliability of a firm’s performance, as measured by earnings. It is of use to the users of financial accounting and corporate finance globally for rationalizing the motivation behind earnings manipulation by the management.

  8. A study on the relationship between operational cash flow and the return of stockholders

    Directory of Open Access Journals (Sweden)

    Hassan Ghodrati

    2014-07-01

    Full Text Available Performance measurement in managerial accounting is normally associated with cash flow and it is executed based on different figures such as testing information content abuse and accounting figures. However, increasing the information content in accrual components of earning and internal performance measurement provides additional informative insights. This paper studies the relationship between operating cash flows and earnings along with total shareholder returns. The study chooses the information of 54 firms from Tehran Stock Exchange. The results show that there were some meaningful relationship between the operating cash flow, profitability and the returns of all stakeholders. However, this happens by increasing profitability and cash flow of information asymmetry proportion to their correlation with the economic efficiency of shareholders’ returns.

  9. Accrual-based accounting system versus cash-based accounting: An empirical study in municipality organization

    Directory of Open Access Journals (Sweden)

    Mahbobeh Arab

    2013-01-01

    Full Text Available There are many cases, where we may wish to choose a good accounting system and would like to learn how they work and the advantages and disadvantages of each so we can choose the better one for a business. In this paper, we present an empirical survey to understand whether we can choose accrual or cash accounting system. The proposed study designs a questionnaire among 220 experts in area of accounting affairs. The survey considers four sub hypotheses and one main hypothesis to see whether there are reliable rules and regulations in accrual-based accounting compared with cash accounting or not. Similarly, the survey investigates whether accrual-based accounting is more informative, comprehensive and provides better comparative results compared with cash accounting. The results indicate that accrual-based account performs better in terms of all mentioned criteria and it is a better method for managing accounting affairs compared with cash accounting systems.

  10. Do business groups affect corporate cash holdings? Evidence from a transition economy

    Directory of Open Access Journals (Sweden)

    Weixing Cai

    2016-03-01

    Full Text Available We examine whether business groups’ influence on cash holdings depends on ownership. Group affiliation can increase firms’ agency costs or benefit firms by providing an internal capital market, especially in transition economies characterized by weak investor protection and difficult external capital acquisition. A hand-collected dataset of Chinese firms reveals that group affiliation decreases cash holdings, alleviating the free-cash-flow problem of agency costs. State ownership and control of listed firms moderate this benefit, which is more pronounced when the financial market is less liquid. Group affiliation facilitates related-party transactions, increases debt capacity and decreases investment-cash-flow sensitivity and overinvestment. In transitional economies, privately controlled firms are more likely to benefit from group affiliation than state-controlled firms propped up by the government.

  11. A planning model for the short-term management of cash.

    Science.gov (United States)

    Broyles, Robert W; Mattachione, Steven; Khaliq, Amir

    2011-02-01

    This paper develops a model that enables the health administrator to identify the balance that minimizes the projected cost of holding cash. Adopting the principles of mathematical expectation, the model estimates the expected total costs of adopting each of the several strategies concerning the cash balance that the organization might maintain. Expected total costs consist of anticipated short costs, resulting from a potential shortage of funds. Long costs are associated with a potential surplus of funds and an opportunity cost represented by foregone investment income. Of importance to the model is the potential for the health service organization to realize a surplus of funds during periods characterized by a net cash disbursement. The paper also develops an interactive spreadsheet that enables the administrator to perform sensitivity analysis and examine the response of the desired or target cash balance to changes in the parameters that define the expected long and short cost functions.

  12. Impact of VAT on the Profitability and the Cash Flow of Romanian Small and Medium Enterprises

    Directory of Open Access Journals (Sweden)

    MARIA ZENOVIA GRIGORE

    2014-05-01

    Full Text Available The options available to taxpayers make tax systems attractive and give them an opportunity to choose one system or another after a careful analysis of the fiscal advantages and disadvantages of each choice. A small or medium company has to explore the options available, whether that is VAT registration or de-registration or choosing the best VAT special scheme. VAT optimisation is particularly interesting because of the high cash flow involved and because of the cash flow benefits that can be obtained. This paper presents an analysis of VAT costs and their impact on profitability and cash flow of small and medium enterprises. We also analysed specific mechanisms to improve profitability and cash flow through VAT optimisation.

  13. IMPACT OF VAT ON THE PROFITABILITY AND THE CASH FLOW OF ROMANIAN SMALL AND MEDIUM ENTREPRISES

    Directory of Open Access Journals (Sweden)

    Maria Zenovia GRIGORE

    2014-05-01

    Full Text Available The options available to taxpayers make tax systems attractive and give them an opportunity to choose one system or another after a careful analysis of the fiscal advantages and disadvantages of each choice. A small or medium company has to explore the options available, whether that is VAT registration or de-registration or choosing the best VAT special scheme. VAT optimisation is particularly interesting because of the high cash flow involved and because of the cash flow benefits that can be obtained. This paper presents an analysis of VAT costs and their impact on profitability and cash flow of small and medium enterprises. We also analysed specific mechanisms to improve profitability and cash flow through VAT optimisation.

  14. Determinants of corporate cash holdings: Evidence from Portuguese publicly traded firms

    Directory of Open Access Journals (Sweden)

    Fernandes, Filipa

    2017-05-01

    Full Text Available This paper investigates the determinants of cash holdings of publicly traded Portuguese firms. We find that such firms hold less cash than similar companies operating in countries where both shareholders and creditors’ rights are more tightly protected by the law. In addition, our regression results suggest that leverage, other liquid assets, and firm growth are negatively correlated with our sample firms’ cash holdings whereas long-term debt and financial distress are positively correlated. Our findings cannot be reconciled with just one of the existent theories (trade-off, pecking order and free cashflow theory, and emphasize the importance of a country’s legal, institutional, and economic environment for explaining firms’ cash holdings decisions.

  15. ANALYSIS OF FINANCIAL PERFORMANCE BASED ON THE RELATIONSHIP BETWEEN INVESTMENTS AND CASH-FLOW

    Directory of Open Access Journals (Sweden)

    Ludmila PROFIR

    2018-06-01

    Full Text Available Financial performance is often difficult to achieve by economic entities, especially in the current economic context and successful models of some companies constitute examples of good practice for aspirants. Cash-flow explains investment because it contains information about future flows of cash and because investment is made in pursuit of future income. Therfore, the purpose of this paper is to analyze the relationship between cash-flow, investment and net income. The target population of the study was the companies listed and traded on the Bucharest Stock Exchange during 2012-2016. The results of this empirical study showed that most of the companies listed and traded on BVB that earn profit constantly generate cash-flow and 65% of the companies listed and traded on BVB during the period 2012-2016 show a satisfactory long-term financial balance.

  16. Methods of the enterprise cash flows optimization in the context of sustainable development

    OpenAIRE

    O. Bardyn

    2015-01-01

    This paper deals with nature and analysis of current approaches to optimization of cash flows of the enterprise. Ways and management directions in order to achieve sustainable development by enterprise have been justified

  17. Determinants of cash holdings in the accommodation industry: evidence from Southerm European Countries

    OpenAIRE

    Morais, Flávio

    2013-01-01

    This study analyzes the determinants of cash holdings for the accommodation industry in Southern European countries (Spain, Greece, Italy and Portugal) using a sample of 5964 firms during the period 2003-2011. A fixed-effects panel data model revealed that larger companies, higher leveraged, where most debt is short-term and that maintain better relationships with financial institutions exhibit lower cash to assets ratios. Liquid assets substitutes, capital expenditures and asset tangibility ...

  18. ANALYSIS OF EXPECTED PRICE DYNAMICS BETWEEN FLUID MILK FUTURES CONTRACTS AND CASH PRICES FOR FLUID MILK

    OpenAIRE

    T. Randall FORTENBERY; Robert A. CROPP; Hector O. ZAPATA

    1997-01-01

    The objective of this study is to provide an empirical evaluation of the expected relationship between cash and futures prices for fluid milk. This is done using historic cash prices from 1988 to 1995, and making inferences about how futures prices would have behaved if they had traded during this sample period. Futures prices are simulated over the sample period based on two assumptions about futures market behavior for fluid milk. The first is that the futures market will essentially price ...

  19. Cash Accounting in the Equation of the Budget Execution and of the Public Management

    OpenAIRE

    Iuliana Cenar

    2009-01-01

    Accounting is the instrument used by the management of a public institution to satisfy the need for information and to direct their decisions. The state’s treasury is the public institution that ensures the perpetuation of the cash based accounting. The paper approaches the following: the treasury’s role in achieving the execution phase of the budgetary process, methods of changing into cash the budgetary incomes and to pay the expenses, the accounting instruments of the various transactions ...

  20. Non-cash benefits from social housing in Europe: a comparative perspective

    OpenAIRE

    Markus M. Grabka; Gerlinde Verbist

    2015-01-01

    Most of the available comparative empirical evidence on levels and trends in income inequalities and poverty in OECD countries relies on the concept of household disposable cash income, thus ignoring the services governments provide to households. Including those services matters a lot, however, for policy interpretation. While cash housing benefits are generally included in household disposable income, the effect of social housing is not accounted for. This may provide a misleading picture o...

  1. Corporate Financial Flexibility, Investment Activities, and Cash Holding: Evidence From Indonesia

    OpenAIRE

    Rahmat Heru Setianto; Addenver Kusumaputra

    2017-01-01

    This paper examines empirically the impact of financial flexibility on investment activities. Furthermore, we also investigate how financial flexibility determines the sensitivity of investment activities to cash flow. Using annual data of Indonesian manufacturing firms spanning five years, our analyses reveal that financial flexibility enhances investment ability and decreases sensitivity of investment activities to cash flow. Further analysis indicates that financially flexible firms in Ind...

  2. Investment Opportunity, Institutional Ownership, Cash Flow, Company Life Cycle Terhadap Kebijakan Dividen Dan Return Saham

    OpenAIRE

    Wiagustini, Ni Luh Putu

    2009-01-01

    The objective of this research was to examine and to analyze the infl uences of investmentopportunity, cash fl ow, company institutional ownership, and company life cycle stages to dividendpolicy; and the infl uences of dividend policy to investment opportunity, cash fl ow, institutionalownership, and company life cycle stages to share return. The samples used in this research weremanufacturing companies registered at Indonesia Stock Exchange (ISX), who paid dividend regularlywithin the perio...

  3. ACFAC: a cash flow analysis code for estimating product price from an industrial operation

    International Nuclear Information System (INIS)

    Delene, J.G.

    1980-04-01

    A computer code is presented which uses a discountted cash flow methodology to obtain an average product price for an industtrial process. The general discounted cash flow method is discussed. Special code options include multiple treatments of interest during construction and other preoperational costs, investment tax credits, and different methods for tax depreciation of capital assets. Two options for allocating the cost of plant decommissioning are available. The FORTRAN code listing and the computer output for a sample problem are included

  4. "Bird in the hand" cash was more effective than prize draws in increasing physician questionnaire response.

    Science.gov (United States)

    Drummond, Frances J; O'Leary, Eamonn; O'Neill, Ciaran; Burns, Richeal; Sharp, Linda

    2014-02-01

    To investigate the effects of two monetary incentives on response rates to postal questionnaires from primary care physicians (PCPs). The PCPs were randomized into three arms (n=550 per arm), namely (1) €5 sent with the questionnaire (cash); (2) entry into a draw on return of completed questionnaire (prize); or (3) no incentive. Effects of incentives on response rates and item nonresponse were examined, as was cost-effectiveness. Response rates were significantly higher in the cash (66.1%; 95% confidence interval [CI]: 61.9, 70.4%) and prize arms (44.8%; 95% CI: 40.1, 49.3%) compared with the no-incentive arm (39.9%; 95% CI: 35.4, 44.3%). Adjusted relative risk of response was 1.17 (95% CI: 1.02, 1.35) and 1.68 (95% CI: 1.48, 1.91) in the prize and cash arms, respectively, compared with the no-incentive group. Costs per completed questionnaire were €9.85, €11.15, and €6.31 for the cash, prize, and no-incentive arms, respectively. Compared with the no-incentive arm, costs per additional questionnaire returned in the cash and prize arms were €14.72 and €37.20, respectively. Both a modest cash incentive and entry into a prize draw were effective in increasing response rates. The cash incentive was most effective and the most cost-effective. Where it is important to maximize response, a modest cash incentive may be cost-effective. Copyright © 2014 Elsevier Inc. All rights reserved.

  5. The costs of paying: Private and social costs of cash and card systems

    OpenAIRE

    Bergman, Mats; Guibourg, Gabriela; Segendorf, Björn

    2007-01-01

    Despite the central role of payments in theoretical and policy oriented economics, there is surprisingly little known about the costs of different payment instruments. We estimate social and private costs of cash, debit and credit card payments in Sweden in 2002. The combined social cost of providing these payment services is approximately 0.4 per cent of GDP. Debit and credit cards are socially less costly than cash for payments above EURO 8 and EURO 18, respectively. Corresponding threshold...

  6. Land grab. More investors offer hospitals cash for their real estate as providers hunt for capital.

    Science.gov (United States)

    Evans, Melanie

    2011-03-07

    More real estate investors are offering hospitals cash for real estate as providers tap into their assets for capital. But if REITs are banking on providers cashing in their real estate chips, that's not happening yet, says Mike O'Keefe, left, of Navigant Consulting. The capital flooding into healthcare real estate has met with a limited supply of sellers. "That's what's driving some of this consolidation," O'Keefe said.

  7. A Study on the Relationship of Earnings and Cash Flows: Evidence of Finance Sector in Iran

    OpenAIRE

    Mahdi Salehi; Mirsohrab Seyedghorbani

    2013-01-01

    The present study is investigating the quality of annual accounting earnings in banking firms that have been listed in Tehran Stock Exchange (TSE) and it evaluates the most important information of accounting that is earnings and cash flows. The study also intends to investigate the relationship between earnings and cash flows regarding their relationship with the expected return of stocks and the extent of informing in the analysis of the inevitable return of stocks. The analyses of data dur...

  8. Using Cash Flows to Predict Bankruptcy of Chemical Companies: Case Study Approach

    OpenAIRE

    Siow, Hui Wen

    2009-01-01

    The intent of this study is to present an argument for the usefulness of cash flow information in bankruptcy prediction, and whether cash flow information provide a superior prediction of business failure over the conventional accrual accounting information. In addition, this dissertation also aim to analyze other important factors leading to bankruptcy, particularly contingent liabilities in which the obligations are not accrued and accounted for, nor are they considered in conventional bank...

  9. Investment cash flow sensitivity under managerial optimism: new evidence from NYSE panel data firms

    OpenAIRE

    Mohamed, Ezzeddine Ben; Fairchild, Richard; Bouri, Abdelfettah

    2014-01-01

    Investment cash flow sensitivity constitutes one important block of the corporate financial literature. While it is well documented in standard corporate finance, it is still young under behavioral corporate finance. In this paper, we test the investment cash flow sensitivity among panel data of American industrial firms during 1999-2010. Using Q-model of investment (Tobin, 1969), we construct and introduce a proxy of managerial optimism following Malmendier and Tate (2005a) to show the impac...

  10. A study on the relationship between operational cash flow and the return of stockholders

    OpenAIRE

    Hassan Ghodrati; Hassan Abyak

    2014-01-01

    Performance measurement in managerial accounting is normally associated with cash flow and it is executed based on different figures such as testing information content abuse and accounting figures. However, increasing the information content in accrual components of earning and internal performance measurement provides additional informative insights. This paper studies the relationship between operating cash flows and earnings along with total shareholder returns. The study chooses the info...

  11. The value relevance of direct cash flows under international financial reporting standards

    OpenAIRE

    Clacher, I; de Ricquebourg, AD; Hodgson, A

    2013-01-01

    This study examines if there has been a change in the value relevance of direct cash flow components since the adoption of International Financial Reporting Standards (IFRS) in Australia. Our results show that for both industrial and extractive firms direct cash flow statements are value relevant under Australian Generally Accepted Accounting Principles (AGAAP) and remain so after the adoption of IFRS. In addition, for industrial firms there is a significant increase in the value relevance of...

  12. How efficient are municipalities in activating cash-help recipients in Denmark

    DEFF Research Database (Denmark)

    Weatherall, James; Beltov, Tor

    Previous studies do not analyse activation starts as the parameter of interest in evaluating labour market programs. In this paper we evaluate municipality ability to activate cash-help recipients, which helps recipients gain the necessary skills vital to future regular employment in Denmark...... policy (ALMP) practices and organisation can only determine activation participation to a certain extent because unemployed cash-help recipient ability affects participation in activation. Municipalities can improve activation efficiency levels in the future by emulating the efficient municipalities...

  13. Cash flow jako prvek finanční analýzy

    OpenAIRE

    HANZLOVÁ, Monika

    2008-01-01

    The cash flow report is very important for a financial management, especially from the point of monitoring liquidity of the company. Its great advantage, in comparison to a profit and loss statement, is the fact, that it eliminates effects emerging from an accounting principle. The financial analysis has a great importance too. It can show to management some signals about financial health of the company. Fundamental provisions concerning the cash flow is asserted in the prerequisites of the C...

  14. STATEMENT OF CASH FLOWS - A MEASURE OF OPERATIONAL PERFORMANCE ON AN ACCRUAL BASIS

    Directory of Open Access Journals (Sweden)

    GHEORGHE LEPADATU

    2011-04-01

    Full Text Available Statement of cash flows presents useful information about changing the company's financial position, allowing to assess the enterprise’s ability to generate future cash flows and cash equivalents in the operating, investing and financing activities and their appropriate use. Treasury of an economic entity can be considered its strong point. The manner in which they manage money and financial flows, the final outcome will depend on the respective entity. Treasury is also an essential and main restriction of the financial management of the enterprise. Treasury embodies the results of operations and how to achieve financial balance of compliance. Not always an entity that ends year with benefits, has a positive cash (cash at bank and in availability. And this, because the gap between the recording and accounting of revenue and expenditure receipts and payments as they fall due, that gap can be decisive for the fate of the enterprise. This is a major requirement of the accrual. Therefore, an efficient management of the economic entity comprises both the asset management flows (revenues / expenses and cash management, i.e. the flows of receipts and payments. The statistical evidence shows that most of the failures are due to weaknesses in treasury management.

  15. Improvements of the cash-flow statement control function in financial reporting

    Directory of Open Access Journals (Sweden)

    Metka Duhovnik

    2008-06-01

    Full Text Available On the basis of deductive considerations applying professional judgement, the article focuses on the additional value of accounting information that can be given to the users of fi nancial statements by a properly prepared statement of cash fl ows. It is based on the fi nding that the professional literature is inconsistent in distinguishing liquidity and profi tability information, and consequently also in distinguishing between the ratios calculated on that basis. It therefore stimulates an improvement in the quality of accounting information with a direct statement of cash fl ows, based on tracing instead of calculating the actual cash fl ow. On the basis of fi nancial statements, including a direct statement of cash fl ows, the ratio analysis of fi nancial statements should be approached from both aspects of profi tability and cash return. The cash fl ow ratios would serve as a control mechanism over the assumptions used when preparing the balance sheet and income statement within the chosen financial reporting framework.

  16. Does Cash Contribute to Value? A Comparison of Constrained and Unconstrained Firms in China and Germany

    Directory of Open Access Journals (Sweden)

    Wei Zhang

    2015-11-01

    Full Text Available A fundamental characteristic of emerging markets is the underdevelopment of legal institutions and financial markets. Therefore, the marginal value of a firm’s cash holdings in emerging countries can be lower than 1, due to high agency costs resulting from poor external corporate governance. However, the marginal value of cash may also be high in emerging markets because the information asymmetry between current and new providers of funds is high, which means that it is difficult to access the (low quality capital markets. We study for the industrialized countries of China and Germany whether corporate cash holdings contribute to shareholder value in both constrained and unconstrained firms. In contradiction to previous literature on emerging markets, we find that the marginal value of cash is not smaller than 1 in China, so that agency costs do not dominate. We, however, find marginal values of cash lower than 1 for unconstrained firms in both countries, implying that in these firms agency costs of cash holdings exist. For constrained firms we find marginal values significantly larger than 1 in both countries. This indicates difficulties in accessing the financial markets for these firms. These difficulties prove to be larger in China than in Germany for small and service firms, but not for high growth firms.

  17. VOLUNTARY DISCLOSURE OF CASH FLOWS INFORMATION AND COMPANY'S CHARACTERISTICS: EVIDENCE FROM THE CROATIAN CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    Željana Aljinović Barać

    2012-12-01

    Full Text Available This paper focuses on the voluntary disclosure of cash flows information of Croatian large companies whose shares are listed on the Zagreb Stock Exchange, with the aim to identify characteristics of companies that provide extensive disclosures. In order to conduct the research and test the likelihood that company publicly announces wealth of information about cash flows, three groups of company’s features are defined as variables: accounting data, capital market information and company’s qualitative characteristics. Verification of empirical evidence was provided through the sample of Croatian listed companies using logistic regression analysis. Obtained results indicate that despite the desire of the regulatory authorities that capital market investors receive all relevant information, companies voluntarily disclose information about cash flows very rarely. Those companies are young (i.e. their shares are listed on an organized securities market for a short time and profitable, with growing net income and growing cash flow from operating activities and usually use indirect method for operating cash flow report. The provision of features of Croatian companies that voluntary disclose cash flow information can be found as contribution of our research, because this topic in a cases of macro-oriented accounting system economies, i.e. bank oriented economies with emerging capital market is still unexplored.

  18. A study on the effects of banks’ cash management on their share value

    Directory of Open Access Journals (Sweden)

    Syed Behzad Zakaria

    2014-09-01

    Full Text Available Banking industry, which is closely associated with the invention and spread of the money, influences on economic growth and development. The main role of the banking system is to create a saving of deposits and using it in beneficial investments or lending it to different people with various investment purposes. Accordingly, banks play essential role as financial intermediaries and provide necessary funds from investors to borrowers and users. In this regard, appropriate management of cash flows is essential for banks. Cash management is a trade-off between risk and return like what happens in other kinds of managements meaning that improving cash management increases the cash considering the limited amount of resources and eventually increases the share of the financial institution. In this paper, the impact of cash management in Iranian banks on their value of stock in 2011 was examined based on the econometrics model and least-square technique. The results indicate a significant and positive impact of the increase in the cash management index on the banks’ stock value, meaning that a one percent increase in this index will increase 1.1 percent of the banks’ stock value.

  19. Family control, institutional environment and cash dividend policy: Evidence from China

    Directory of Open Access Journals (Sweden)

    Zhihua Wei

    2011-06-01

    Full Text Available Using a sample of 1486 Chinese A-share listed companies for the period 2004–2008, this study empirically tests the impact of family control, institutional environment and their interaction on the cash dividend policy of listed companies. Our results indicate that (1 family firms have a lower cash dividend payout ratio and propensity to pay dividends than non-family firms; (2 a favorable regional institutional environment has a significant positive impact on the cash dividend payout ratio and propensity to pay dividends of listed companies; and (3 the impact of the regional institutional environment on cash dividends is stronger in family firms than in non-family firms. Somewhat surprisingly, we find that controlling family shareholders in China may intensify Agency Problem I (the owner–manager conflict rather than Agency Problem II (the controlling shareholder–minority shareholder conflict, and thus have a significant negative impact on cash dividend policy. In contrast, a favorable regional institutional environment plays a positive corporate governance role in mitigating Agency Problem I and encouraging family firms to pay cash dividends.

  20. Ghana's nuclear programme

    International Nuclear Information System (INIS)

    Ahafia, Albert K.

    1988-01-01

    The Paper gives the purpose of Ghana's Nuclear Programme and describes some specific research activities and peaceful applications of atomic energy in agriculture, medicine and industry. A discussion of some of the problem facing the programme concludes the Paper. (author)

  1. Equivalence of the different discounted cash flow valuation methods. Different alternatives for determining the discounted value of tax shields and their implications for the valuation

    OpenAIRE

    Fernández, Pablo

    1999-01-01

    This paper addresses the valuation of firms by cash flow discounting. The first part shows that the four most commonly used discounted cash flow valuation methods (free cash flow discounted at the WACC; cash flow available for equity holders discounted at the required return on the equity flows; capital cash flow discounted at the WACC before taxes; and Adjusted Present Value) always give the same value. This result is logical because all the methods analyse the same reality under the same hy...

  2. The Winfrith DSN programme

    International Nuclear Information System (INIS)

    Francescon, S.

    1963-05-01

    The programme, which is written in the Fortran language, solves the Carlson discrete S n approximation to the Boltzmann transport equation in cylindrical geometry. This report describes the input and output facilities of the WINFRITH DSN programme and the associated editing programme WED. (author)

  3. The Winfrith DSN programme

    Energy Technology Data Exchange (ETDEWEB)

    Francescon, S [General Reactor Physics Division, Atomic Energy Establishment, Winfrith, Dorchester, Dorset (United Kingdom)

    1963-05-15

    The programme, which is written in the Fortran language, solves the Carlson discrete S{sub n} approximation to the Boltzmann transport equation in cylindrical geometry. This report describes the input and output facilities of the WINFRITH DSN programme and the associated editing programme WED. (author)

  4. UNESCO's Ethics Education Programme.

    NARCIS (Netherlands)

    Have, H.A.M.J. ten

    2008-01-01

    Unesco initiated the Ethics Education Programme in 2004 at the request of member states to reinforce and increase the capacities in the area of ethics teaching. The programme is focused on providing detailed information about existing teaching programmes. It also develops and promotes teaching

  5. Factors affecting the different results in terms of acceptance and refusal of free cash flow to equity and free cash flow to firm in investment decisions on a project

    Directory of Open Access Journals (Sweden)

    Hasan Bal

    2010-03-01

    Full Text Available Decisions on whether investment projects will be invested are based on such methods as net present value and internal rate of return. These methods focus on net cash flows that will be provided throughout the economic life from the investment. In determining the cash flows there are the methods of free cash flow to firm and free cash flow to equity. In the evaluation of an investment project, each method finds the net present value with a different result. It is such that concerning some projects, while one method finds a positive net present value; the other method can find a negative net present value. This study sets out to examine the factors affecting the conflicting points of the each method, free cash flow to equity and free cash flow to firm, in the acceptance of an investment project.

  6. Modelling of project cash flow on construction projects in Malang city

    Science.gov (United States)

    Djatmiko, Bambang

    2017-09-01

    Contractors usually prepare a project cash flow (PCF) on construction projects. The flow of cash in and cash out within a construction project may vary depending on the owner, contract documents, and construction service providers who have their own authority. Other factors affecting the PCF are down payment, termyn, progress schedule, material schedule, equipment schedule, manpower schedules, and wages of workers and subcontractors. This study aims to describe the cash inflow and cash outflow based on the empirical data obtained from contractors, develop a PCF model based on Halpen & Woodhead's PCF model, and investigate whether or not there is a significant difference between the Halpen & Woodhead's PCF model and the empirical PCF model. Based on the researcher's observation, the PCF management has never been implemented by the contractors in Malang in serving their clients (owners). The research setting is in Malang City because physical development in all field and there are many new construction service providers. The findings in this current study are summarised as follows: 1) Cash in included current assets (20%), owner's down payment (20%), termyin I (5%-25%), termyin II (20%), termyin III (25%), termyin IV (25%) and retention (5%). Cash out included direct cost (65%), indirect cost (20%), and profit + informal cost(15%), 2)the construction work involving the empirical PCF model in this study was started with the funds obtained from DP or current assets and 3) The two models bear several similarities in the upward trends of direct cost, indirect cost, Pro Ic, progress billing, and S-curve. The difference between the two models is the occurrence of overdraft in the Halpen and Woodhead's PCF model only.

  7. Modelling of radionuclide interception and loss processes in vegetation and of transfer in semi-natural ecosystems. Second report of the VAMP terrestrial working group. Part of the IAEA/CEC co-ordinated research programme on the validation of environmental model predictions (VAMP)

    International Nuclear Information System (INIS)

    1996-01-01

    Following the Chernobyl accident and on the recommendation of the International Nuclear Safety Advisory Group (INSAG) in its Summary Report on the Post-Accident Review Meeting on the Chernobyl Accident, the IAEA established a Co-ordinated Research Programme on ''The Validation of Models for the Transfer of Radionuclides in Terrestrial, Urban and Aquatic Environments and the Acquisition of Data for that Purpose''. The programme seeks to use the information on the environmental behaviour of radionuclides which became available as a result of the measurement programmes instituted in the countries of the former USSR and in many European countries after April 1986 for the purpose of testing the reliability of assessment models. Such models find application in assessing the radiological impact of all parts of the nuclear fuel cycle. They are used at the planning and design stage to predict the radiological impact of planned nuclear facilities, in assessing the possible consequences of accidents involving releases of radioactive material to the environment and in establishing criteria for the implementation of countermeasures. In the operational phase they are used together with the results of environmental monitoring to demonstrate compliance with regulatory requirements regarding release limitation. Refs, figs and tabs

  8. Modelling of radionuclide interception and loss processes in vegetation and of transfer in semi-natural ecosystems. Second report of the VAMP terrestrial working group. Part of the IAEA/CEC co-ordinated research programme on the validation of environmental model predictions (VAMP)

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-01-01

    Following the Chernobyl accident and on the recommendation of the International Nuclear Safety Advisory Group (INSAG) in its Summary Report on the Post-Accident Review Meeting on the Chernobyl Accident, the IAEA established a Co-ordinated Research Programme on ``The Validation of Models for the Transfer of Radionuclides in Terrestrial, Urban and Aquatic Environments and the Acquisition of Data for that Purpose``. The programme seeks to use the information on the environmental behaviour of radionuclides which became available as a result of the measurement programmes instituted in the countries of the former USSR and in many European countries after April 1986 for the purpose of testing the reliability of assessment models. Such models find application in assessing the radiological impact of all parts of the nuclear fuel cycle. They are used at the planning and design stage to predict the radiological impact of planned nuclear facilities, in assessing the possible consequences of accidents involving releases of radioactive material to the environment and in establishing criteria for the implementation of countermeasures. In the operational phase they are used together with the results of environmental monitoring to demonstrate compliance with regulatory requirements regarding release limitation. Refs, figs and tabs.

  9. The financial determinants of corporate cash holdings in an oil rich country: Evidence from Kingdom of Saudi Arabia

    Directory of Open Access Journals (Sweden)

    Muncef Guizani

    2017-09-01

    Full Text Available This paper investigates the determinants of the cash holdings for a sample of Saudi firms over the period 2006–2014, using static and dynamic panel models. Our results show that leverage, firm size, capital expenditure, net working capital and cash flow volatility are important in determining cash holdings. When we divide our sample into two sub-samples: petrochemical and non-petrochemical firms, our results show a significant difference between the determinants of cash holdings of the two groups of firms. We also investigate the characteristics of high liquid firms (conservative firms. The results indicate that conservative firms are less leveraged, have large size, have low investment expenditures and have low cash flow fluctuation. Furthermore, dynamic panel estimation indicates that Saudi firms adjust their liquidity holdings quickly towards an endogenous target cash ratio.

  10. Designing the Cash and Counseling Demonstration and Evaluation.

    Science.gov (United States)

    Doty, Pamela; Mahoney, Kevin J; Simon-Rusinowitz, Lori

    2007-02-01

    The Cash and Counseling Demonstration and Evaluation (CCDE) was designed as an experiment in shifting the paradigm in home and community-based long-term care from a professional/bureaucratic model of service delivery to one emphasizing consumer choice and control. The experimental intervention was an individualized budget offered in lieu of traditional Medicaid-covered services, such as agency-delivered aide services or a plan of care developed and coordinated by a professional case-manager, which typically involves authorization for several different providers to deliver a range of services. Within the spending limits established by their budgets, program participants were largely free to choose the types and amounts of paid services and supports they judged best able to meet their disability-related personal assistance needs. Medicaid beneficiaries in selected states who volunteered to participate. In all of the participating state Medicaid programs, beneficiaries eligible to participate included elders and younger adults with chronic disabilities and, in one state, adults and children with mental retardation/developmental disabilities could also participate. Minor children and adults with cognitive impairment could participate via representatives (family or friends who agreed to assist them in managing their services or to act as their surrogate decision-makers). Members of the CCDE management team describe the rationale for and implications of key design decisions. Key design decisions included the choice of research methodology (random assignment of CCDE participants in each state to treatment and control groups), selection of the state sites (AR, FL, NJ, NY), and the need for the CCDE to comply with federal waiver requirements for Medicaid research and demonstration projects. Principle Findings. The CCDE design was successfully implemented in three of the four state Medicaid programs selected for participation. The successful implementation of the CCDE

  11. TRANSFERENCE BEFORE TRANSFERENCE.

    Science.gov (United States)

    Bonaminio, Vincenzo

    2017-10-01

    This paper is predominantly a clinical presentation that describes the transmigration of one patient's transference to another, with the analyst functioning as a sort of transponder. It involves an apparently accidental episode in which there was an unconscious intersection between two patients. The author's aim is to show how transference from one case may affect transference in another, a phenomenon the author calls transference before transference. The author believes that this idea may serve as a tool for understanding the unconscious work that takes place in the clinical situation. In a clinical example, the analyst finds himself caught up in an enactment involving two patients in which he becomes the medium of what happens in session. © 2017 The Psychoanalytic Quarterly, Inc.

  12. ANALISIS FREE CASH FLOW DAN KEPEMILIKAN MANAJERIAL TERHADAP KEBIJAKAN HUTANG PADA PERUSAHAAN PUBLIK DI INDONESIA

    Directory of Open Access Journals (Sweden)

    R. Anastasia Endang Susilawati

    2010-06-01

    Full Text Available The main objective of this research is to examine behavior public company in Indonesia to manage of free cash flows and the role namagerial ownership on corporate debt policy. The using dependent variable on this research is debt, so independent variables are free cash flows and managerial ownership. The sample used was the public companies listed in the Jakarta Stock Exchange (JSX. There were 59 companies which have and during the period from 2005-2009. Data collected by purposive sampling. The result examination is that public company in Indonesia have low investment opportunity set (IOS when free cash flow high attending by using debt for cost operation company. This result robust because evidence with chow test the result that significant difference regression stability between free cash flow to corporate debt policy have low and high investment opportunity set. Although, when dividend based big company have low investment opportunity and small company have low investment opportunity, both have the same effect between free cash flow on corporate debt policy. The result chow test suggest examination there are not statistically significant difference. Managerial ownership association negative with debt policy, this result evidence that agency cost of debt can be reduce by managerial ownership

  13. Relevance of free cash flow as a measure of generating value for owners

    Directory of Open Access Journals (Sweden)

    Bešlić Ivana

    2014-01-01

    Full Text Available In the new economy or knowledge economy the main goal of any company should be directed towards the achievement of the business in the interest of the owners, or generating the value for owners. In dynamic business environment, an effective performance measurement system is key determinant of successful implementation of corporate strategy, growth and survival of the company. Modern performance measures should provide an accurate assessment of the intrinsic value of the company, as well as the value for the owners (shareholders. The essence is maximizing the immanent or guaranteed value of the company. The immanent value is the value of a company based on internal evaluation (assessment discounted cash flows or expected cash flow in the future by the management team. Corporate managers in Serbia are facing the challenge of increasingly efficient capital markets and the competition in the future, which requires the implementation of a value oriented corporate governance, therefore this paper presents FCF (Free Cash Flow methodology of valuation. Free cash flow (FCF is the amount of cash available for owners of the company after the necessary investments in fixed assets and working capital to maintain the current scope of activities and support to planning.

  14. Earnings volatility and the role of cash flows in the capital markets: Empirical evidence

    Directory of Open Access Journals (Sweden)

    Dr. Melita Charitou

    2013-07-01

    Full Text Available The recent global financial crisis brought to the forefront of the capital markets the importance of firm fundamentals and especially, the valuation role of cash flows. In this study, we examine the role of earnings and cash flows in two major capital markets, namely, USA and France. We hypothesize that the relationship between cash flows and security returns improves when earnings are transitory and this robustness is country specific. The dataset consists of more than 37,000 USA and French firm-year observations over an eight-year period. Multivariate statistical regression analysis is undertaken to test the major research hypotheses. Results indicate that when earnings are transitory (unstable, investors pay more attention to cash flows and less attention to earnings, a result indicating that investors penalize firms with unstable earnings. In summary, the evidence provided in this study supports that there are substantial differences in the way investors and financial analysts perceive financial information such as earnings and cash flows in France and USA. These results should be of great importance to the major stakeholders such as investors, creditors, financial analysts, especially after the recent global financial crisis and the collapse of giant organizations worldwide.

  15. A study on relationship between earnings before tax, interest and operational cash flows with stockholders’ equity

    Directory of Open Access Journals (Sweden)

    Mohammad Reza karimi Torghabeh

    2014-08-01

    Full Text Available One of the primary economic issues is associated with optimum resource allocation in profitable investments with reasonable risk. For this purpose, performance measurement’s criteria are needed some of which emphasize cash flow variables and some others focus on information content of accounting profit. On this basis, this study examines the relationship between earnings before tax and interest and operational cash flows with stockholders’ return in Tehran Stock Exchange (TSE. In this regard, information asymmetry was also examined. To test hypotheses, multivariable regression and combined data method were used. The results showed that based on the information of 102 companies in stock market from 2004 to 2009, there was a positive and significant correlation between earnings before interest and tax and stock return in the companies. While, operational cash flow has no significant impact on stock return. Increasing information asymmetry, earnings before interest and tax has a positive and significant correlation with stockholders ’return; but operational cash flow has no significant effect on stockholders’ return. In other words, earnings before interest and tax have higher information content than operational cash flow.

  16. There's no such thing as a free lunch : evidence from the effect of in-kind transfers

    DEFF Research Database (Denmark)

    Bingley, Paul; Walker, Ian

    1997-01-01

    Several commodities are provided at zero or subsidised prices directly to those who are intended to consume them in an attempt to circumvent agency problems associated with providing a cash transfer to household heads. In addition, some countries provide extensive in-kind transfers for the specif...... with in-kind public transfers being offset by the actions of altruistic parents which undermines the case for such transfers....

  17. Evaluating cash benefits as real options for a commodity producer in an emerging market

    Directory of Open Access Journals (Sweden)

    Fernando Antonio Lucena Aiube

    2009-07-01

    Full Text Available The amount of cash a firm should maintain is an old problem tackled by finance literature. The recent advances in finance, mainly in the derivatives area, has opened the opportunity to revisit this subject. Cossin and Hricko (2004 studied the benefits of cash holdings using the Real Options approach. We follow their ideas extending the problem to a specific commodity producer firm in an emerging economy. We evaluate the benefits considering that raising capital takes time (timing benefit and also the benefit of avoiding the issue of securities at unfavorable moments (underpricing benefit. We use numerical procedures to solve the problem. Despite the fact that the results are not totally intuitive, we verify that the timing benefit is much more relevant than that of avoiding the underpricing benefit and that firms in emerging economies have greater advantage holding cash than those in developed economies. There is empirical evidence of this last result in the literature.

  18. Pengaruh Faktor Good Corporate Governance, Free Cash Flow, dan Leverage Terhadap Manajemen Laba

    Directory of Open Access Journals (Sweden)

    Dian Agustia

    2013-01-01

    Full Text Available The aim of this research is to provide empirical evidence on the impact of good corporate governance, free cash flow, and leverage ratio on earnings management. Good corporate governance is measured by audit committee’s size, the proportion of independent commissioners, institutional ownership, and managerial ownership. Discretionary accrual is the proxy of earning management. This research used 14 textile companies listed in Indonesia Stock Exchange, selected using purposive sampling method, during the research period 2007-2011. Data were analyzed using multiple regression method. Based on the result of analysis concluded that all components of good corporate governance (audit committee’s size, the proportion of independent commissioners, institutional ownership, and managerial ownership, have no significant effect on earnings management, while leverage ratio has a significant effect on earnings management, and free cash flow has a negative and significant effect on earnings management. It means that companies with high free cash flow will restrict the practice of earnings management.

  19. Measuring the Capacity and Transaction Time of Cash and Electronic Toll Collection Systems

    Directory of Open Access Journals (Sweden)

    Rudy Hermawan Karsaman

    2014-07-01

    Full Text Available A long queue can occur at tollgates due to the amount of transaction time required to perform ticket payment and toll fee collection. This problem can be addressed by the use of an electronic toll collection (ETC system. A case study conducted on the Jakarta Intra Urban, Cikupa-Merak, and Cawang Pluit Toll Roads suggests that the queueing at the tollgates when modelled followed a Poisson distribution. The average cash transaction time was approximately 5 to 6 seconds, while the ETC transaction time was only 4 seconds. Furthermore, the capacity of the cash system gate was 550 to 620 vehicles/hour (which is above the minimum service standard of 450 vehicles/hour,whereas the electronic gate capacity was 770 to 870 vehicles/hour. This study demonstrates that the ETC system is more effective than the cash system in terms of reducing the number of queueing vehicles.

  20. The Norwegian Cash-for-Care Reform. Changing behaviour and stable attitudes

    Directory of Open Access Journals (Sweden)

    Lars Gulbrandsen

    2009-03-01

    Full Text Available In 1998 Norway introduced a cash-for-care scheme. Parent with children aged one or two were offered
    a cash-for-care benefit if they did not make use of public funded day care centres. The reform was supported by
    political parties of the centre and right and strongly opposed by parties on the left. Since 1999 ever fewer parents
    have made use of the opportunity to claim the benefit and have instead sent their children to a day care centre. At-
    titudes towards the cash-for-care reform, however, have remained very stable up to now. The principle of freedom
    of choice appears to be strongly rooted among Norwegians. The political agreement on maximum prices made
    this freedom a reality even for parents who wanted to make use of child care centres.