WorldWideScience

Sample records for cash transfer programme

  1. Acceptability of conditions in a community-led cash transfer programme for orphaned and vulnerable children in Zimbabwe.

    Science.gov (United States)

    Skovdal, Morten; Robertson, Laura; Mushati, Phyllis; Dumba, Lovemore; Sherr, Lorraine; Nyamukapa, Constance; Gregson, Simon

    2014-10-01

    Evidence suggests that a regular and reliable transfer of cash to households with orphaned and vulnerable children has a strong and positive effect on child outcomes. However, conditional cash transfers are considered by some as particularly intrusive and the question on whether or not to apply conditions to cash transfers is an issue of controversy. Contributing to policy debates on the appropriateness of conditions, this article sets out to investigate the overall buy-in of conditions by different stakeholders and to identify pathways that contribute to an acceptability of conditions. The article draws on data from a cluster-randomized trial of a community-led cash transfer programme in Manicaland, eastern Zimbabwe. An endpoint survey distributed to 5167 households assessed community members' acceptance of conditions and 35 in-depth interviews and 3 focus groups with a total of 58 adults and 4 youth examined local perceptions of conditions. The study found a significant and widespread acceptance of conditions primarily because they were seen as fair and a proxy for good parenting or guardianship. In a socio-economic context where child grants are not considered a citizen entitlement, community members and cash transfer recipients valued the conditions associated with these grants. The community members interpreted the fulfilment of the conditions as a proxy for achievement and merit, enabling them to participate rather than sit back as passive recipients of aid. Although conditions have a paternalistic undertone and engender the sceptics' view of conditions being pernicious and even abominable, it is important to recognize that community members, when given the opportunity to participate in programme design and implementation, can take advantage of conditions and appropriate them in a way that helps them manage change and overcome the social divisiveness or conflict that otherwise may arise when some people are identified to benefit and others not. PMID:24019380

  2. School exclusion as social exclusion: the practices and effects of a conditional cash transfer programme for the poor in Bangladesh.

    Science.gov (United States)

    Hossain, Naomi

    2010-01-01

    Evidence indicates that a much-feted conditional cash transfer programme designed to widen access to basic education in Bangladesh has failed in its aims. The programme is analysed here as an instance of the effort to govern chronic poverty. For the state, education fits within a national project of poverty reduction and creating governable citizens. For the poor, education signals social inclusion and access to the state. Yet class and social distinctions through which state actors 'see' poor children result in beneficiary selection practices that routinely exclude the poorest from school, with longer-term adverse effects for their social inclusion and citizenship. PMID:20737739

  3. Climate change, cash transfers and health.

    Science.gov (United States)

    Pega, Frank; Shaw, Caroline; Rasanathan, Kumanan; Yablonski, Jennifer; Kawachi, Ichiro; Hales, Simon

    2015-08-01

    The forecast consequences of climate change on human health are profound, especially in low- and middle-income countries and among the most disadvantaged populations. Innovative policy tools are needed to address the adverse health effects of climate change. Cash transfers are established policy tools for protecting population health before, during and after climate-related disasters. For example, the Ethiopian Productive Safety Net Programme provides cash transfers to reduce food insecurity resulting from droughts. We propose extending cash transfer interventions to more proactive measures to improve health in the context of climate change. We identify promising cash transfer schemes that could be used to prevent the adverse health consequences of climatic hazards. Cash transfers for using emission-free, active modes of transport - e.g. cash for cycling to work - could prevent future adverse health consequences by contributing to climate change mitigation and, at the same time, improving current population health. Another example is cash transfers provided to communities that decide to move to areas in which their lives and health are not threatened by climatic disasters. More research on such interventions is needed to ensure that they are effective, ethical, equitable and cost-effective. PMID:26478613

  4. Cash transfers and child labor

    OpenAIRE

    de Hoop, Jacobus; Rosati, Furio C.

    2014-01-01

    Cash transfer programs are widely used in settings where child labor is prevalent. Although many of these programs are explicitly implemented to improve children's welfare, in theory their impact on child labor is undetermined. This paper systematically reviews the empirical evidence on the impact of cash transfers, conditional and unconditional, on child labor. The authors find no evidenc...

  5. Cash Transfers and Child Labor

    OpenAIRE

    de Hoop, Jacobus; Rosati, Furio C.

    2014-01-01

    Cash transfer programs are widely used in settings where child labor is prevalent. Although many of these programs are explicitly implemented to improve children's welfare, in theory their impact on child labor is undetermined. This paper systematically reviews the empirical evidence on the impact of cash transfers, conditional and unconditional, on child labor. The authors find no evidenc...

  6. Quality of obstetric referral services in India's JSY cash transfer programme for institutional births: a study from Madhya Pradesh province.

    Directory of Open Access Journals (Sweden)

    Sarika Chaturvedi

    Full Text Available BACKGROUND: India launched JSY cash transfer programme to increase access to emergency obstetric and neonatal care (EmONC by incentivising in-facility births. This increased in-facility births from 30%in 2005 to 73% in 2012 however, decline in maternal mortality follows a secular trend. Dysfunctional referral services can contribute to poor programme impact on outcomes. We hence describe inter- facility referrals and study quality of referral services in JSY. METHODS AND RESULTS: Women accessing intra natal care (n = 1182 at facilities (reporting >10 deliveries/month, n = 96 were interviewed in a 5 day cross sectional survey in 3 districts of Madhya Pradesh province. A nested matched case control study (n = 68 pairs was performed to study association between maternal referral and adverse birth outcomes. There were 111 (9.4% in referrals and 69 (5.8% out referrals. Secondary level facilities sent most referrals and 40% were for conditions expected to be treated at this level. There were 36 adverse birth outcomes (intra partum and in-facility deaths. After matching for type of complication and place of delivery, conditional logistic regression model showed maternal referral at term delivery was associated with higher odds of adverse birth outcomes (OR- 2.6, 95% CI: 1.0-6.6 p = 0.04. Maternal death record review (April 10-March 12 was conducted at the CEmOC facility in one district. Spatial analysis of transfer time from sending to the receiving CEmOC facility among in-facility maternal deaths was conducted in ArcGIS10 applying two hours (equated to 100 Km as desired transfer time. There were 124 maternal deaths, 55 of which were among mothers referred in. Buffer analysis revealed 98% mothers were referred from <2 hours. Median time between arrival and death was 6.75 hours. CONCLUSIONS: High odds of adverse birth outcomes associated with maternal referral and high maternal deaths despite spatial access to referral care indicate poor

  7. 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. PMID:27387651

  8. Cash or Condition? Evidence from a Cash Transfer Experiment

    OpenAIRE

    Baird, Sarah; Mcintosh, Craig; Ozler, Berk

    2010-01-01

    Conditional Cash Transfer programs are "...the world's favorite new anti-poverty device," (The Economist, July 29 2010) yet little is known about the specific role of the conditions in driving their success. In this paper, we evaluate a unique cash transfer experiment targeted at adolescent girls in Malawi that featured both a conditional (CCT) and an unconditional (UCT) treatment arm. We ...

  9. 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.

  10. 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

  11. Cash Transfers, Basic Income and Community Building

    Directory of Open Access Journals (Sweden)

    Evelyn L. Forget

    2013-09-01

    Full Text Available The austerity movement in high-income countries of Europe and North America has renewed calls for a guaranteed Basic Income. At the same time, conditional and unconditional cash transfers accompanied by rigorous impact evaluations have been conducted in low- and middle-income countries with the explicit support of the World Bank. Both Basic Income and cash transfer programs are more confidently designed when based on empirical evidence and social theory that explain how and why cash transfers to citizens are effective ways of encouraging investment in human capital through health and education spending. Are conditional cash transfers more effective and/or more efficient than unconditional transfers? Are means-tested transfers effective? This essay draws explicit parallels between Basic Income and unconditional cash transfers, and demonstrates that cash transfers to citizens work in remarkably similar ways in low-, middle- and high-income countries. It addresses the theoretical foundation of cash transfers. Of the four theories discussed, three explicitly acknowledge the interdependence of society and are based, in increasingly complex ways, on ideas of social inclusion. Only if we have an understanding of how cash transfers affect decision-making can we address questions of how best to design cash transfer schemes.

  12. Cash transfers for HIV prevention: considering their potential

    Directory of Open Access Journals (Sweden)

    Lori Heise

    2013-08-01

    Full Text Available Introduction: 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. Discussion: 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. Conclusions: 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.

  13. The use of cash transfers for HIV prevention--are we there yet?

    Science.gov (United States)

    Taaffe, Jessica; Cheikh, Nejma; Wilson, David

    2016-01-01

    Poverty and social inequality are significant drivers of the HIV epidemic and are risk factors for acquiring HIV. As such, many individuals worldwide are at risk for new HIV infection, especially young women in East and Southern Africa. By addressing these drivers, social protection programmes may mitigate the impact of poverty and social inequality on HIV risk. There is reason to believe that social protection can be used successfully for HIV prevention; social protection programmes, including cash transfers, have led to positive health outcomes and behaviour in other contexts, and they have been used successfully to promote education and increased income and employment opportunities. Furthermore, cash transfers have influenced sexual behaviour of young women and girls, thereby decreasing sexual risk factors for HIV infection. When HIV outcomes have been measured, several randomised controlled trials have shown that indirectly, cash transfers have led to reduced HIV prevalence and incidence. In these studies, school attendance and safer sexual health were directly incentivised through the cash transfer, yet there was a positive effect on HIV outcomes. In this review, we discuss the growth of social protection programmes, their benefits and impact on health, education and economic potential, and how these outcomes may affect HIV risk. We also review the studies that have shown that cash transfers can lead to reduced HIV infection, including study limitations and what questions still remain with regard to using cash transfers for HIV prevention. PMID:27002355

  14. From cash transfers to basic income: An unfolding Indian Agenda

    OpenAIRE

    Standing, Guy

    2014-01-01

    This article provides a review of the arguments for and against cash transfers in India, taking care to distinguish between different types of cash transfer schemes, which include a universal unconditional basic income as well as conditional schemes. The article sets out some principles by which any social policy should be judged and goes on to discuss cash transfers alongside other instruments of social policy, namely the Public Distribution System (PDS) and the Mahatma Gandhi National Ru...

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

    International Nuclear Information System (INIS)

    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)

  16. Perceived impact of Ghana's conditional cash transfer on child health.

    Science.gov (United States)

    Owusu-Addo, Ebenezer

    2016-03-01

    A plethora of studies from sub-Saharan Africa indicate that orphaned and vulnerable children are exposed to adverse health, education and other social outcomes. Across diverse settings, conditional cash transfer (CCT) programmes have been successful in improving health outcomes amongst vulnerable children. This study explored the pathways of CCTs' impact on the health of orphans and vulnerable children in rural Ghana. Due to the multi-dimensional nature of CCTs, the programme impact theory was used to conceptualize CCTs' pathways of impact on child health. A qualitative descriptive exploratory approach was used for this study. This study drew on the perspectives of 18 caregivers, 4 community leaders and 3 programme implementers from two rural districts in Ghana. Semi-structured individual interviews were conducted with the participants. Thematic content analysis was conducted on the interview transcripts to pull together core themes running through the entire data set. Five organizing themes emerged from the interview transcripts: improved child nutrition, health service utilization, poverty reduction and social transformation, improved education and improved emotional health and well-being demonstrating the pathways through which CCTs work to improve child health. The results indicated that CCTs offer a valuable social protection instrument for improving the health of orphans and vulnerable children by addressing the social determinants of child health such as nutrition, access to health care, child poverty and education. PMID:25073762

  17. Cash Transfers, Children and the Crisis : Protecting Current and Future Investments

    OpenAIRE

    Fiszbein, Ariel; Ringold, Dena; Srinivasan, Santhosh

    2011-01-01

    In a mix of responses to the food, fuel, and financial crises of 2008-9, some developing countries have introduced new safety-net programmes, while others have modified and/or expanded existing ones. Many have introduced conditional cash transfers (CCTs) in recent years, and these have been used as an important starting point for a response. This article aims to describe these various experiences with CCTs, to distil lessons about their effectiveness as crisis-response programmes for househol...

  18. Conditional cash transfers, adult work incentives, and poverty

    OpenAIRE

    Skoufias, Emmanuel; Di Maro,Vincenzo

    2006-01-01

    Conditional cash transfer (CCT) programs aim to alleviate poverty through monetary and in-kind benefits, as well as reduce future levels of poverty by encouraging investments in education, health, and nutrition. The success of CCT programs at reducing poverty depends on whether, and the extent to which, cash transfers affect adult work incentives. The authors examine whether the PROGRESA program of Mexico affects adult participation in the labor market and overall adult leisure time, and they...

  19. Social protection to support vulnerable children and families: the potential of cash transfers to protect education, health and nutrition

    OpenAIRE

    Adato, M.; Bassett, L.

    2009-01-01

    Investing in social protection in sub-Saharan Africa has taken on a new urgency as HIVand AIDS interact with other drivers of poverty to simultaneously destabilise livelihoods systems and family and community safety nets. Cash transfer programmes already reach millions of people in South Africa, and in other countries in southern and East Africa plans are underway to reach tens and eventually hundreds of thousands more. Cash transfers worldwide have demonstrated large impacts on the education...

  20. How cash transfers promote the case for basic income

    OpenAIRE

    Standing, Guy

    2008-01-01

    There has long been a minority view that providing people with cash is an effective way of combating poverty and economic insecurity while promoting livelihoods and work. The mainstream view has nevertheless been that giving people money, without conditions or obligations, promotes idleness and dependency, while being unnecessarily costly. This paper reviews recent evidence on various types of schemes implemented in developing countries, including several pilot cash transfer schemes, assessin...

  1. 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....

  2. Cash Transfers and Child Nutrition: What we know and what we need to know

    OpenAIRE

    Sudhanshu Handa; Amber Peterman; Richard de Groot; Luigi Peter Ragno; Tia Palermo; UNICEF Innocenti Research Centre

    2015-01-01

    This paper aims to provide a comprehensive overview of the impacts of cash transfer programmes on the immediate and underlying determinants of child nutrition, including the most recent evidence from impact evaluations across sub-Saharan Africa. It adopts the UNICEF extended model of care conceptual framework of child nutrition and highlights evidence on the main elements of the framework – food security, care and health care. It finds that several key gaps should be addressed in future inclu...

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

    OpenAIRE

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

    2015-01-01

    Objective 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. Design The study analysed data on CSG ...

  4. Social protection to support vulnerable children and families: the potential of cash transfers to protect education, health and nutrition.

    Science.gov (United States)

    Adato, M; Bassett, L

    2009-01-01

    Investing in social protection in sub-Saharan Africa has taken on a new urgency as HIV and AIDS interact with other drivers of poverty to simultaneously destabilise livelihoods systems and family and community safety nets. Cash transfer programmes already reach millions of people in South Africa, and in other countries in southern and East Africa plans are underway to reach tens and eventually hundreds of thousands more. Cash transfers worldwide have demonstrated large impacts on the education, health and nutrition of children. While the strongest evidence is from conditional cash transfer evaluations in Latin America and Asia, important results are emerging in the newer African programmes. Cash transfers can be implemented in conjunction with other services involving education, health, nutrition, social welfare and others, including those related to HIV and AIDS. HIV/AIDS-affected families are diverse with respect to household structure, ability to work and access to assets, arguing for a mix of approaches, including food assistance and income-generation programmes. However, cash transfers appear to offer the best strategy for scaling up to a national system of social protection, by reaching families who are the most capacity constrained, in large numbers, relatively quickly. These are important considerations for communities hard-hit by HIV and AIDS, given the extent and nature of deprivation, the long-term risk to human capital and the current political willingness to act. PMID:22380980

  5. The Long Term Impact of Cash Transfers to Poor Families

    OpenAIRE

    Anna Aizer; Shari Eli; Joseph P. Ferrie; Adriana Lleras-Muney

    2014-01-01

    We estimate the long-run impact of cash transfers to poor families on children's longevity, educational attainment, nutritional status, and income in adulthood. To do so, we collected individual-level administrative records of applicants to the Mothers' Pension program--the first government-sponsored welfare program in the US (1911-1935) --and matched them to census, WWII and death records. Male children of accepted applicants lived one year longer than those of rejected mothers. Male childre...

  6. 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.

  7. 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. PMID:19670269

  8. Measuring the impact of social cash transfers on poverty and inequality in Namibia

    OpenAIRE

    Sebastian Levine; Servaas van der Berg; Derek Yu

    2009-01-01

    This paper reviews the system for social cash transfers in Namibia, a middle-income country with a long experience in making available a universal and non-contributory old age pension, child grants using means-testing and quasi-conditionalities and other cash transfers. The paper traces the origins of the cash transfers back to the country’s past annexation into apartheid South Africa and shows how Namibia’s system is now faced with a set of distinct challenges that are particularly pertinent...

  9. 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.

  10. Conditional Cash Transfers and Education Quality in the Presence of Credit Constraints

    OpenAIRE

    Elena Del Rey; Fernanda Estevan

    2011-01-01

    We investigate the relative merits of unconditional cash transfers (UCT), conditional cash transfers (CCT), and improvements in education quality on efficiency and welfare. In our setting some parents under-invest in their children's education because capital market imperfections prevent them from borrowing. When credit constrained households can be perfectly targeted by the government, we show that CCT are more effective than UCT in enhancing efficiency and equivalent in terms of welfare. Wh...

  11. Development Chutes and Ladders: A Joint Impact Evaluation of Asset and Cash Transfers in Brazil

    OpenAIRE

    Fitz, Dylan

    2013-01-01

    Land reforms provide large transfers of assets that enable households to increase investments in agriculture, but they can also lead to increases in human capital. Similarly, conditional cash transfers incentivize human capital investments, but they can also increase productive investments in agriculture. Thus, both programs have direct and indirect effects and may even complement each other, as land reforms provide productive assets that increase the returns to investments while cash transfe...

  12. Labour's Record on Cash Transfers, Poverty, Inequality and the Lifecycle 1997 - 2010

    OpenAIRE

    John Hills

    2013-01-01

    Cash transfers (benefits and tax credits) are crucial to the way that inequalities develop over time. This paper looks at how Labour's aims, policies and achievements on poverty and inequality related to its reforms of and spending on cash transfers. - Labour's aims for poverty and inequality were selective. 'Equality of opportunity' was the stated aim, rather than equality of outcome - with a focus on lifting the lowest incomes, not reducing the highest ones. - Labour gave priority to reduci...

  13. The experience of cash transfers in alleviating childhood poverty in South Africa: mothers' experiences of the Child Support Grant.

    Science.gov (United States)

    Zembe-Mkabile, Wanga; Surender, Rebecca; Surrender, Rebecca; Sanders, David; Jackson, Debra; Doherty, Tanya

    2015-01-01

    Cash transfer (CT) programmes are increasingly being used as policy instruments to address child poverty and child health outcomes in developing countries. As the largest cash-transfer programme in Africa, the South African Child Support Grant (CSG) provides an important opportunity to further understand how a CT of its kind works in a developing country context. We explored the experiences and views of CSG recipients and non-recipients from four diverse settings in South Africa. Four major themes emerged from the data: barriers to accessing the CSG; how the CSG is utilised and the ways in which it makes a difference; the mechanisms for supplementing the CSG; and the impact of not receiving the grant. Findings show that administrative factors continue to be the greatest barrier to CSG receipt, pointing to the need for further improvements in managing queues, waiting times and coordination between departments for applicants trying to submit their applications. Many recipients, especially those where the grant was the only source of income, acknowledged the importance of the CSG, while also emphasising its inadequacy. To maximise their impact, CT programmes such as the CSG need to be fully funded and form part of a broader basket of poverty alleviation strategies. PMID:25685927

  14. Do cash transfers improve birth outcomes? Evidence from matched vital statistics, social security and program data

    OpenAIRE

    Amarante, Veronica; Manacorda, Marco; Miguel, Edward; Vigorito, Andrea

    2011-01-01

    There is limited empirical evidence on whether unrestricted cash social assistance to poor pregnant women improves children's birth outcomes. Using program administrative micro-data matched to longitudinal vital statistics on the universe of births in Uruguay, we estimate that participation in a generous cash transfer program led to a sizeable 15% reduction in the incidence of low birthweight. Improvements in mother nutrition and a fall in labor supply, out-of-wedlock births and mother's smok...

  15. Towards cash transfer interventions for tuberculosis prevention, care and control: key operational challenges and research priorities

    OpenAIRE

    Boccia, D.; D. Pedrazzoli; Wingfield, T; Jaramillo, E; Lönnroth, K.; Lewis, J.; Hargreaves, J; Evans, CA

    2016-01-01

    Background Cash transfer interventions are forms of social protection based on the provision of cash to vulnerable households with the aim of reduce risk, vulnerability, chronic poverty and improve human capital. Such interventions are already an integral part of the response to HIV/AIDS in some settings and have recently been identified as a core element of World Health Organization’s End TB Strategy. However, limited impact evaluations and operational evidence are currently available to inf...

  16. Labour's record on cash transfers, poverty, inequality and the lifecycle 1997 - 2010

    OpenAIRE

    Hills, John

    2013-01-01

    Cash transfers (benefits and tax credits) are crucial to the way that inequalities develop over time. This paper looks at how Labour’s aims, policies and achievements on poverty and inequality related to its reforms of and spending on cash transfers. - Labour’s aims for poverty and inequality were selective. ‘Equality of opportunity’ was the stated aim, rather than equality of outcome – with a focus on lifting the lowest incomes, not reducing the highest ones. - Labour gave priority to reduci...

  17. Child-focused state cash transfers and adolescent risk of HIV infection in South Africa: a propensity-score-matched case-control study.

    OpenAIRE

    Cluver, L.; Boyes, M.; Orkin, M.; Pantelic, M; Molwena, T; Sherr, L.

    2013-01-01

    BACKGROUND: Effective and scalable HIV prevention for adolescents in sub-Saharan Africa is needed. Cash transfers can reduce HIV incidence through reducing risk behaviours. However, questions remain about their effectiveness within national poverty-alleviation programmes, and their effects on different behaviours in boys and girls. METHODS: In this case-control study, we interviewed South African adolescents (aged 10-18 years) between 2009 and 2012. We randomly selected census areas in two ur...

  18. Child-focused state cash transfers and adolescent risk of HIV infection in South Africa: a propensity-score-matched case-control study

    OpenAIRE

    Lucie Cluver, PhD; Mark Boyes, PhD; Mark Orkin, PhD; Marija Pantelic, MSc; Thembela Molwena; Lorraine Sherr, PhD

    2013-01-01

    Background: Effective and scalable HIV prevention for adolescents in sub-Saharan Africa is needed. Cash transfers can reduce HIV incidence through reducing risk behaviours. However, questions remain about their effectiveness within national poverty-alleviation programmes, and their effects on different behaviours in boys and girls. Methods: In this case-control study, we interviewed South African adolescents (aged 10–18 years) between 2009 and 2012. We randomly selected census areas in two...

  19. Can Conditional Cash Transfers Improve Education and Nutrition Outcomes for Poor Children in Bangladesh? Evidence from a Pilot Project

    OpenAIRE

    Ferre, Celine; Sharif, Iffath

    2014-01-01

    There is an increasing recognition that investment in human development at an earlier age can have a significant impact on the lifetime earnings capacity of an individual. This notion is the basis for the popularity of conditional cash transfer programs to help boost child health and education outcomes. The evidence on the impact of conditional cash transfers on health and education outcomes, ...

  20. 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…

  1. 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…

  2. Kenya's cash transfer program: protecting the health and human rights of orphans and vulnerable children.

    Science.gov (United States)

    Bryant, John H

    2009-01-01

    In Kenya, as in other countries of sub-Saharan Africa heavily burdened by HIV/ AIDS, orphans and vulnerable children (OV/C) face poverty and despair. There is an urgent need to provide a comprehensive response that supports families and communities in their efforts to care for children and safeguard their rights. The government of Kenya has established a cash transfer program that delivers financial and social support directly to the poorest households containing OV/C, with special concern for those children with or affected by HIV/AIDS. The Kenyan effort builds on lessons drawn from research and program development on cash transfers in Latin America, Asia, and Africa, and the Kenyan program offers an opportunity to examine the challenges faced by Kenya, and its responses in the context of international experiences. This paper-based on observation of and interviews with key actors involved in the origins, development, evaluation, and continued strengthening of Kenyas cash transfer program and on the analysis of technical program documents obtained from those key actors--describes the Kenyan cash transfer program in light of human rights issues as they relate to childrens health. It offers one example of how caring for society's most vulnerable members is a collective responsibility to be shared by a country's government, local citizens, and the international community. PMID:20845842

  3. Do Cash Transfers Improve Birth Outcomes? Evidence from Matched Vital Statistics, Program and Social Security Data

    OpenAIRE

    Amarante, Verónica; Manacorda, Marco; Miguel, Edward; Vigorito, Andrea

    2012-01-01

    There is limited empirical evidence on whether cash social assistance to poor pregnant women improves children’s birth outcomes. Using program administrative micro-data matched to longitudinal vital statistics on the universe of births in Uruguay, we estimate that participation in a generous cash transfer program led to a sizeable 15 to 17% reduction in the incidence of low birth weight. Improvements in mother nutrition and a fall in labor supply, out-of-wedlock births and mother’s smoking al...

  4. Earnings Management before Rights Issues and the Subsequent Cash Transfer in Chinese Firms

    Science.gov (United States)

    Tsai, Bi-Huei

    2009-08-01

    Unlike private enterprises in developed markets, political influence is profound upon Chinese state-dominated firms. Under this consideration, this paper demonstrates how political impact interferes in Chinese managers' decisions. State-assigned managers were found to deliberately transfer cash raised via rights issues from the public shareholders to the state by cash dividends in order to please Chinese politicians. Especially, to meet the regulatory requirement of rights issues, managers from firms which distributed more cash dividends in the same year of rights issues were more likely to inflate earnings before rights issues. The earnings inflation which managers use to boost firm's incomes is defined as "earnings management." Furthermore, the empirical results also exhibit that firm's close relationship with the state enables managers to obtain approvals of rights issues easily, which reduces the firm's earnings management tendency. The manager's incentives of earnings management is closely attributed to the political intervention.

  5. Understanding Impact Variation in Family Rewards: The Role of Schools and Neighborhoods on a Conditional Cash Transfer Program

    Science.gov (United States)

    Wolf, Sharon; Aber, J. Lawrence; Morris, Pamela A.

    2013-01-01

    In 2007, the Center for Economic Opportunity (CEO) in the Mayor's Office of the City of New York mounted the first holistic Conditional Cash Transfer (CCT) initiative in an economically advanced, services rich jurisdiction. The initiative is known as Opportunity NYC-Family Rewards (henceforth "Family Rewards"). CCTs offer cash assistance…

  6. Conditional cash transfers and the double burden of malnutrition among children in Colombia: a quasi-experimental study.

    Science.gov (United States)

    Lopez-Arana, Sandra; Avendano, Mauricio; Forde, Ian; van Lenthe, Frank J; Burdorf, Alex

    2016-05-01

    Conditional cash-transfer (CCT) programmes have been shown to improve the nutritional and health status of children from poor families. However, CCT programmes may have unintended and not fully known consequences by increasing the risk of overweight and obesity. We examined the impact of Familias en Acción (FA), a large CCT programme in Colombia, on the double burden of malnutrition among pre-school and school-aged children. Height and weight were measured before programme enrolment and during follow-ups in 1290 children from thirty-one treatment municipalities, being compared with 1584 children from sixty-two matched control municipalities. We used a difference-in-differences approach to evaluate the effect of FA on children's stunting, BMI z-scores, thinness, overweight and obesity, controlling for individual and municipality-level confounders. At baseline, the prevalences of stunting and overweight were 30·3 and 15·4 %, respectively, in treatment municipalities and 27·9 and 17·4 % in control municipalities. FA was associated with reduced odds of thinness (OR 0·26; 95 % CI 0·09, 0·75) and higher BMI-for-age z-scores (BMI z-scores) (β 0·14; 95 % CI 0·00, 0·27; P<0·05), although the latter was of small clinical significance. The prevalence of stunting, overweight and obesity decreased over time, but the effect of FA on these outcomes was not significant. The CCT programme in Colombia reduced the odds of thinness, but had no effect on stunting, a more prevalent outcome. The FA programme had no effect on overweight or obesity, although BMI z-scores were higher for children under treatment, raising the possibility of an increase of small clinical significance on BMI among pre-school and school-aged children. PMID:26988836

  7. Acceptability and Feasibility of Cash Transfers for HIV Prevention among Adolescent South African Women

    OpenAIRE

    MacPhail, Catherine; Adato, Michelle; Kahn, Kathleen; Selin, Amanda; Twine, Rhian; Khoza, Samson; Rosenberg, Molly; Nguyen, Nadia; Becker, Elizabeth; Pettifor, Audrey

    2013-01-01

    Women are at increased risk of HIV infection in much of sub-Saharan Africa. Longitudinal and cross-sectional studies have found an association between school attendance and reduced HIV risk. We report feasibility and acceptability results from a pilot of a cash transfer intervention conditional on school attendance paid to young women and their families in rural Mpumalanga, South Africa for the prevention of HIV infection. Twenty-nine young women were randomised to intervention or control and...

  8. Three Essays on Intended and not Intended Impacts of Conditional Cash Transfers

    OpenAIRE

    Perova, Elizaveta

    2010-01-01

    Targeted to the poorest households, Conditional Cash Transfers (CCTs) may constitute up to 30 percent of the households' monthly consumption. An unexpected increase in income of such magnitude is likely to affect behavior of the beneficiaries beyond the changes envisioned by the creators of the program and imposed by the conditions. My dissertation focuses on such unintended impacts of the CCT programs. I explore the impact of Juntos, a CCT program in Peru, on political participation and intr...

  9. Conditional Cash Transfer Program in the Philippines: Is It Reaching the Extremely Poor?

    OpenAIRE

    Tabuga, Aubrey D.; Reyes, Celia M.

    2012-01-01

    The Philippine government shows its serious effort to combat poverty through the continuing expansion of the Pantawid Pamilyang Pilipino Program (4Ps), the Philippines' version of the conditional cash transfer (CCT) program modeled by Latin American countries. The 4Ps by far is the most comprehensive and also controversial poverty reduction program of the Philippine government because of the huge amount of money the government is spending for this. The expansion of the program since 2008 nece...

  10. 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.

  11. 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

    We estimate the effect of cash transfers given to youth conditional on high school attendance on the labor supply decisions and academic performance of youth. We exploit differences in the size of the total transfer received based on timing of birth to identify the causal effects of interest......-income families. The results suggest that some youths are borrowing constrained. Since we find no evidence of corresponding effects on academic performance, alleviating the constraint appears only to affect consumption decisions and not human capital investment....

  12. Technology transfer in the Spanish nuclear programme

    International Nuclear Information System (INIS)

    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)

  13. Improve your CASH flow

    DEFF Research Database (Denmark)

    Brown, Christopher; Loidl, Hans-Wolfgang; Berthold, Jost;

    2010-01-01

    symbolic computation. In this paper we describe a new component of SymGrid-Par known as CASH: the C omputer Algebra SH ell. CASH is a system that allows direct access to SymGrid-Par via GHCi. CASH thus allows Haskell programmers to exploit high-performance parallel computations using a system designated...

  14. Conditional cash transfers, labour markets, and poverty reduction: a pilot study of Brazil's Bolsa Família

    OpenAIRE

    Jones, Hayley Amanda

    2011-01-01

    As one of the most recent trends in poverty reduction policy, conditional cash transfers (CCTs) provide cash to poor households upon fulfillment of certain conditions, often education or health-related. By increasing CCT beneficiaries’ level of human capital, CCTs aim to increase their skills and resources to lift them out of poverty. Yet, the success of translating increased human capital into long-term poverty reduction is contingent upon changing labour market trajectories. The purpose o...

  15. 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.

  16. Improve your CASH flow

    DEFF Research Database (Denmark)

    Brown, Chris; Loidl, Hans-Wolfgang; Berthold, Jost;

    2011-01-01

    This paper describes CASH (the Computer Algebra SHell), a new interface that allows Haskell programmers to access the complete functionality of a number of computer algebra systems directly and interactively. Using CASH, Haskell programmers can access previously-unavailable mathematical software....

  17. 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 nationa

  18. 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,…

  19. Can cash transfers improve determinants of maternal mortality? Evidence from the household and community programs in Indonesia.

    Science.gov (United States)

    Kusuma, Dian; Cohen, Jessica; McConnell, Margaret; Berman, Peter

    2016-08-01

    Despite global efforts in maternal health, 303,000 maternal deaths still occurred globally in 2015. One explanation is a considerable inequality in maternal mortality and the sources such as nutritional status and health utilization. One strategy to fight health inequality due to poverty is conditional cash transfer (CCT). Taking advantage of two large clustered-randomized trials in Indonesia from 2007 to 2009, this paper provides evidence on the effects of household cash transfers (PKH) and community cash transfers (Generasi) on determinants of maternal mortality. The sample sizes are 14,000 households for PKH and 12,000 households for Generasi. After two years of implementation, difference-in-differences (DID) analyses show that the two programs can improve determinants of maternal mortality with Generasi provides positive impact in some aspects of determinants, but PKH does not. Generasi improves maternal health knowledge, reduces financial barriers to accessing health services and improves utilization of health services, increases utilization among higher-risk women, improves posyandu equipment, and increases nutritional intake. As for PKH, evidence shows its strongest effects only on utilization of health services. Both programs, however, are unlikely to have a large effect on maternal mortality due to design and implementation issues that might significantly reduce program effectiveness. While the programs improved utilization, they did so at community-based facilities not equipped with emergency obstetric care. In the midst of popularity of household cash transfer, our results show that community cash transfer offers a viable policy alternative to improve the determinants of maternal mortality by allowing more flexibility in activities and at lower cost by monitoring at community level. PMID:27376594

  20. The impact of cash transfers to poor women in Columbia on BMI and obesity: prospective cohort study

    OpenAIRE

    Forde, I; Chandola, T.; Garcia, S.; Marmot, M.G.; Attanasio, O

    2012-01-01

    INTRODUCTION:Prevalence of obesity is rising in Latin America and increasingly affecting socially disadvantaged groups, particularly women. Conditional cash transfers are recently established welfare interventions in the region. One, Familias en Accion, transfers ∼20% of average monthly income to women in Colombia's poorest families. Previous work has found that families buy more food as a result. We tested the hypothesis that participation in Familias would be associated with increasing body...

  1. Economic evaluation of conditional cash transfer scheme for postponement of first pregnancy in newly married couples in Satara district of Maharashtra (India

    Directory of Open Access Journals (Sweden)

    Asha K Pratinidhi

    2013-10-01

    Full Text Available Background: Since 2007, Satara district is implementing a voluntary conditional cash transfer scheme named “Second Honeymoon Package” (SHP for postponement of first pregnancy. This study was undertaken to evaluate it's effectiveness in preventing pregnancies, utilizing the years for learning or betterment in jobs. Cost-effectiveness analysis was undertaken from government's viewpoint and that from beneficiary's viewpoint. Objectives: To perform the economic evaluation of second honeymoon package programme from the perspective of beneficiaries and that of Government of Maharashtra during the defined time horizon. To determine the targets to be achieved so as to make the programme cost- effective. Materials and Methods: This was an evaluation study of a community based interventional programme. This study employed quasi-experimental study design. Economic evaluation was conducted from the perspective of Government of Maharashtra and that of beneficiaries'. Costs and consequences SHP were evaluated in comparison with those of routine family welfare programme. Sensitivity analysis was done using Treeage Pro® version 2009 software. Results: Cost for participation in programme was Rs. 965888/268 person years of productivity. Cost of not participating in the Second honeymoon programme but availing routine family planning services was Rs. 298902/133 person years gained. Rankings analysis showed that no strategies were clearly dominated by any other. Extended dominance report indicates no strategies were eliminated by extended dominance. Incremental cost-effectiveness ratio was Rs.4920/person year of productivity. Conclusions: The SHP is cost effective at high success and productivity rates. The success rate of postponement of first pregnancy was 51.4%. Postponement of pregnancy by 2 years provides 45% chances of productive utilization of time.

  2. Conditional Cash Transfer Programs from a Gender Perspective: A Comparative Evaluation for Turkey

    Directory of Open Access Journals (Sweden)

    Nursel Aydiner Avsar

    2016-02-01

    Full Text Available This paper aims to evaluate the conditional cash transfer (CCT program in Turkey from a comparative gender perspective. The paper first presents a detailed review of the gender impact of CCT programs in developing countries to assess the success of these programs in fostering gender equality. The paper then evaluates the CCT program in Turkey in comparison to the cases of Brazil and Mexico, using the most up-to-date data on each program, along a number of dimensions including targeting method, benefit structure, conditions, and program administration. The main objective of the paper is to put the Turkish CCT program in a comparative perspective with the two well-known and successful CCT programs in the developing world in terms of program design and reach. This way, the paper aims to shed light to how successful the Turkish CCT program has been in implementing the so-called model CCT programs in these two countries. It is seen that the Turkish CCT program falls behind the programs in Brazil and Mexico in terms of coverage and amount of GDP allocated. The benefits show a more detailed structure than Brazil but are less developed and generous than the one in Mexico. Although the CCT program in Turkey had a positive impact on school enrollment, particularly for girls, and women's empowerment, it hasn't been influential in reducing poverty.

  3. Conditional Cash Transfer Programs from a Gender Perspective: A Comparative Evaluation for Turkey

    Directory of Open Access Journals (Sweden)

    Nursel AYDINER AVŞAR

    2014-10-01

    Full Text Available This paper aims to evaluate the conditional cash transfer (CCT program in Turkey from a comparative gender perspective. The paper first presents a detailed review of the gender impact of CCT programs in developing countries to assess the success of these programs in fostering gender equality. The paper then evaluates the CCT program in Turkey in comparison to the cases of Brazil and Mexico, using the most up-to-date data on each program, along a number of dimensions including targeting method, benefit structure, conditions, and program administration. The main objective of the paper is to put the Turkish CCT program in a comparative perspective with the two well-known and successful CCT programs in the developing world in terms of program design and reach. This way, the paper aims to shed light to how successful the Turkish CCT program has been in implementing the so-called model CCT programs in these two countries. It is seen that the Turkish CCT program falls behind the programs in Brazil and Mexico in terms of coverage and amount of GDP allocated. The benefits show a more detailed structure than Brazil but are less developed and generous than the one in Mexico. Although the CCT program in Turkey had a positive impact on school enrollment, particularly for girls, and women’s empowerment, it hasn’t been influential in reducing poverty.

  4. Understanding use of health services in conditional cash transfer programs: insights from qualitative research in Latin America and Turkey.

    Science.gov (United States)

    Adato, Michelle; Roopnaraine, Terry; Becker, Elisabeth

    2011-06-01

    Conditional cash transfer programs provide cash grants to poor households conditional on their participation in primary health care services. While significant impacts have been demonstrated quantitatively, little attention is paid to why CCTs have these observed impacts, and as importantly- why impacts are not greater than they are. This article draws on qualitative research from four countries over a ten year period (1999-2009) to provide insights into why expected health and nutrition impacts do and do not occur. In Nicaragua, El Salvador, and Turkey, ethnographic methods were used, involving between 87 and 120 households per country, and in Mexico, focus groups were conducted with 230 people. Key informant interviews were conducted with health care providers in all countries. While CCTs operate primarily on the assumption that a cash incentive will produce behaviour change, we found multiple sociocultural and structural influences on health care decisions that compete with cash. These include beliefs around traditional and modern biomedical practices, sociocultural norms, gender relations, and the quotidian experience of poverty in many dimensions. We conclude that impacts can be increased through a better understanding of multiple contextual influences on health care decisions, and greater attention to the health education components and complementary interventions. PMID:21122965

  5. On the Design of Educational Conditional Cash Transfer Programs and Non-Education Outcomes: the Case of Teenage Pregnancy

    OpenAIRE

    Dario Maldonado; Catalina Latorre; Darwin Cortés; Juan Miguel Gallego Acevedo; Moncia Ortegon

    2011-01-01

    We investigate the effect of education Conditional Cash Transfer programs (CCTs) on teenage pregnancy. Our main concern is with how the size and sign of the e ect may depend on the design of the program. Using a simple model we show that an education CCT that conditions renewal on school performance reduces teenage pregnancy; the program can increase teenage pregnancy if it does not condition on school performance. Then, using an original data base, we estimate the causal impact on teenage pr...

  6. On the Design of Education Conditional Cash Transfer Programs and non Education Outcomes: The Case of Teenage Pregnancy

    OpenAIRE

    Cortés, Darwin; Gallego, Juan; Maldonado, Darío

    2011-01-01

    We investigate the effect of education Conditional Cash Transfer programs (CCTs) on teenage pregnancy. Our main concern is with how the size and sign of the effect may depend on the design of the program. Using a simple model we show that an education CCT that conditions renewal on school performance reduces teenage pregnancy; the program can increase teenage pregnancy if it does not condition on school performance. Then, using an original data base, we estimate the causal impact on teenage p...

  7. Demand and Supply-Side Determinants of Conditional Cash Transfer Program Effectiveness: Improving the First-Generation Programs

    OpenAIRE

    Carolyn Heinrich

    2005-01-01

    The Programa Nacional de Becas Estudiantiles is a conditional cash transfer program designed to promote long-term human capital accumulation among Argentine youth and to reduce poverty. This study follows a 1999 cohort of students from 24 schools for five years. Propensity score matching methods are used with a comparison group of students who were excluded due to quotas to estimate the average and marginal impacts of the Becas program. Multilevel methods are also used to estimate the contrib...

  8. HPTN 068: A Randomized Control Trial of a Conditional Cash Transfer to Reduce HIV Infection in Young Women in South Africa-Study Design and Baseline Results.

    Science.gov (United States)

    Pettifor, Audrey; MacPhail, Catherine; Selin, Amanda; Gómez-Olivé, F Xavier; Rosenberg, Molly; Wagner, Ryan G; Mabuza, Wonderful; Hughes, James P; Suchindran, Chirayath; Piwowar-Manning, Estelle; Wang, Jing; Twine, Rhian; Daniel, Tamu; Andrew, Philip; Laeyendecker, Oliver; Agyei, Yaw; Tollman, Stephen; Kahn, Kathleen

    2016-09-01

    Young women in South Africa are at high risk for HIV infection. Cash transfers offer promise to reduce HIV risk. We present the design and baseline results from HPTN 068, a phase III, individually randomized trial to assess the effect of a conditional cash transfer on HIV acquisition among South African young women. A total of 2533 young women were randomized to receive a monthly cash transfer conditional on school attendance or to a control group. A number of individual-, partner-, household- and school-level factors were associated with HIV and HSV-2 infection. After adjusting for age, all levels were associated with an increased odds of HIV infection with partner-level factors conveying the strongest association (aOR 3.05 95 % CI 1.84-5.06). Interventions like cash transfers that address structural factors such as schooling and poverty have the potential to reduce HIV risk in young women in South Africa. PMID:26891839

  9. Canada/China Oil and Gas Technology Transfer Programme

    Institute of Scientific and Technical Information of China (English)

    Wang Zhongqiao

    1997-01-01

    @@ The Government of Canada is providing assistance to China National Petroleum Corporation (CNPC) via the Canada/China Oil and Gas Technology Transfer Programme. Canada is represented by the Canadian International Development Agency (CIDA) in this Programme, while China's interests are administered by the Ministry of Foreign Trade and Economic Cooperation (MOFTEC).

  10. Toward Reducing Poverty across Generations: Early Findings from New York City's Conditional Cash Transfer Program

    Science.gov (United States)

    Miller, Cynthia; Riccio, James

    2011-01-01

    Aimed at low-income families in six of New York City's highest-poverty communities, Family Rewards ties cash rewards to a pre-specified set of activities and outcomes thought to be critical to families' short- and long-term success in the areas of children's education, family preventive health care, and parents' employment. The purpose of this…

  11. The government of Kenya's cash transfer program reduces the risk of sexual debut among young people age 15-25.

    Directory of Open Access Journals (Sweden)

    Sudhanshu Handa

    Full Text Available The aim of this study is to assess whether the Government of Kenya's Cash Transfer for Orphans and Vulnerable Children (Kenya CT-OVC can reduce the risk of HIV among young people by postponing sexual debut. The program provides an unconditional transfer of US$20 per month directly to the main caregiver in the household. An evaluation of the program was implemented in 2007-2009 in seven districts. Fourteen Locations were randomly assigned to receive the program and fourteen were assigned to a control arm. A sample of households was enrolled in the evaluation in 2007. We revisited these households in 2011 and collected information on sexual activity among individuals between 15-25 years of age. We used logistic regression, adjusted for the respondent's age, sex and relationship to caregiver, the age, sex and schooling of the caregiver and whether or not the household lived in Nairobi at baseline, to compare rates of sexual debut among young people living in program households with those living in control households who had not yet entered the program. Our results, adjusted for these covariates, show that the program reduced the odds of sexual debut by 31 percent. There were no statistically significant effects on secondary outcomes of behavioral risk such as condom use, number of partners and transactional sex. Since the CT-OVC provides cash to the caregiver and not to the child, and there are no explicit conditions associated with receipt, these impacts are indirect, and may have been achieved by keeping young people in school. Our results suggest that large-scale national social cash transfer programs with poverty alleviation objectives may have potential positive spillover benefits in terms of reducing HIV risk among young people in Eastern and Southern Africa.

  12. 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.

  13. 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 < 0.01) in the 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 < 0.05). The consumption of energy and all nutrients was greater in the food basket group (P < 0.05). Cash and in-kind transfers in populations that are not 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. PMID:20089777

  14. Education for the Alleviation of Poverty: A Comparative Study of Conditional Cash Transfer Programs to Improve Educational Outcomes in Nicaragua and Colombia

    Science.gov (United States)

    Stackhouse, Shannon Alexis

    2009-01-01

    The importance of education for individual well-being, social cohesion and economic growth is widely accepted by researchers and policymakers alike. Yet there exist vast numbers of people around the world, largely poor, who continue to lag behind wealthier people, often within their own nations. Conditional cash transfer programs were created to…

  15. Cash and in-kind transfers lead to excess weight gain in a population of women with a high prevalence of overweight in rural Mexico.

    Science.gov (United States)

    Leroy, Jef L; Gadsden, Paola; González de Cossío, Teresa; Gertler, Paul

    2013-03-01

    There is a growing concern that food or cash transfer programs may contribute to overweight and obesity in adults. We studied the impact of Mexico's Programa de Apoyo Alimentario (PAL), which provided very poor rural households with cash or in-kind transfers, on women's body weight. A random sample of 208 rural communities in southern Mexico was randomly assigned to 1 of 4 groups: food basket with or without health and nutrition education, cash with education, or control. The impact on women's weight was estimated in a cohort of 3010 women using a difference-in-difference model. We compared the impact between the food basket and cash groups and evaluated whether the impact was modified by women's BMI status at baseline. With respect to the control group, the program increased women's weight in the food basket (550 ± 210 g; P = 0.004) and the cash group (420 ± 230 g; P = 0.032); this was equivalent to 70 and 53% increases in weight gain, respectively, over that observed in the control group in a 23-mo time period. The greatest impact was found in already obese women: 980 ± 290 g in the food basket group (P = 0.001) and 670 ± 320 g in the cash group (P = 0.019). Impact was marginally significant in women with a preprogram BMI between 25 and 30 kg/m2: 490 ± 310 g (P = 0.055) and 540 ± 360 g (P = 0.067), respectively. No program impact was found in women with a BMI programs such as PAL and to help beneficiaries choose healthy diets that improve the nutritional status of all family members. PMID:23343672

  16. The Expansion of Cash Transfers in Chile and its Challenges: Ethical Family Income

    OpenAIRE

    Simone Cecchini; Claudia Robles; Luis Hernán Vargas

    2012-01-01

    In the last decade Chile has attracted renewed interest for its innovative social protection policies and programmes, such as the Chile Solidario system to overcome extreme poverty (launched in 2002), the special plan for Universal Access with Explicit Guarantees (Plan de Acceso Universal con Garantías Explícitas, AUGE) to ensure access to healthcare (2004), the Basic Solidarity Pension (Pensión Básica Solidaria, PBS)?the cornerstone of the 2008 pension reform?and the system of Chile Grows Wi...

  17. Conditional Cash Transfers and Female Schooling: The Impact of the Female School Stipend Program on Public School Enrollments in Punjab, Pakistan

    OpenAIRE

    Chaudhury, Nazmul; Parajuli, Dilip

    2006-01-01

    Instead of mean-tested conditional cash transfer (CCT) programs, some countries have implemented gender-targeted CCTs to explicitly address intra-household disparities in human capital investments. This study focuses on addressing the direct impact of a female school stipend program in Punjab, Pakistan: Did the intervention increase female enrollment in public schools? To address this question, the authors draw on data from the provincial school censuses of 2003 and 2005. They estimate the ne...

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

    OpenAIRE

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

    2016-01-01

    Background 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...

  19. “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...... orphaned children, particularly amongst girls. We conclude that CCCT is a viable strategy for improving orphan schooling in sub-Saharan Africa. © 2013 Taylor & Francis....

  20. Szacowanie podstawy opodatkowania w przypadku umowy cash poolingu

    OpenAIRE

    Witczak, Radosław

    2013-01-01

    In the article the tax effects of cash pooling were presented. The scope and types of cash pooling contract were presented. The rules concerning the VAT and tax on civil law transactions and cash pooling were described. The tax effects of cash pooling caused by corporate income tax were discussed. The areas of tax risk concerning the use of cash pooling in respect of transfer pricing were given. The possibility of tax assessment in case of cash pooling was discussed.

  1. 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. PMID:24010026

  2. 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. PMID:26851407

  3. Cash-Flow Tax

    OpenAIRE

    Parthasarathi Shome; Christian Schutte

    1993-01-01

    The cash-flow tax has been proposed as an alternative to corporate income tax on grounds of clarity and simplicity in defining the tax base in the face of widespread departures from the comprehensive income tax in actual practice. Variants of the tax, with their advantages and disadvantages, demonstrate that it would require careful design. Simplicity is not an obvious property because of expectable administration problems related to tax avoidance and evasion through transfer pricing; to infl...

  4. 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. PMID:21531060

  5. Long-Term Financial Incentives and Investment in Daughters: Evidence From Conditional Cash Transfers In North India

    OpenAIRE

    Nistha Sinha; Joanne Yoong

    2009-01-01

    Since the early 1990s, several states in India have introduced financial incentive programs to discourage son preference among parents and to encourage investments in daughters' education and health. This study evaluates one such program in the state of Haryana, Apni Beti Apna Dhan (Our Daughter, Our Wealth). Since 1994, eligible parents in Haryana are offered a financial incentive if they give birth to a daughter. The incentive consists of an immediate cash grant and a long-term savings bond...

  6. 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. PMID:26421980

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

    DEFF Research Database (Denmark)

    Maclachlan, Ross; Ion, William; Kochanowska, Rowena;

    2009-01-01

    The Global Innovation Management (GIM) MSc programme is a 2 year, 120 ECTS, joint degree programme delivered and awarded by the consortium of the University of Strathclyde (UofS) in Scotland, Aalborg University (AAU) in Denmark and Hamburg University of Technology (TUHH) in Germany. The education...... relevance to innovative product and service development curricula.......The Global Innovation Management (GIM) MSc programme is a 2 year, 120 ECTS, joint degree programme delivered and awarded by the consortium of the University of Strathclyde (UofS) in Scotland, Aalborg University (AAU) in Denmark and Hamburg University of Technology (TUHH) in Germany. The educational...... 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...

  8. 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...

  9. 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

  10. 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.

  11. Ethnicity as a Prerequisite for Inclusion in Conditional Transfer Programmes: The Opportunities Programme in Mexico

    OpenAIRE

    Juan Luis Sariego

    2012-01-01

    Public policies aimed at Mexico?s indigenous population traditionally viewed the communities themselves as their primary beneficiaries. Breaking with this convention, the anti-poverty programme known as Oportunidades, with its specific focus on supporting not communities but in fact discrete family units experiencing acute poverty, disregarded the specificities of the indigenous population and treated indigenous people as any other impoverished segment of Mexican society. (?)

  12. 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.

  13. The role of welfare state principles and generosity in social policy programmes for public health: an international comparative study

    DEFF Research Database (Denmark)

    Lundberg, Olle; Yngwe, Monica Aberg; Stjärne, Maria Kölegård;

    2008-01-01

    BACKGROUND: Many important social determinants of health are also the focus for social policies. Welfare states contribute to the resources available for their citizens through cash transfer programmes and subsidised services. Although all rich nations have welfare programmes, there are clear cro...

  14. 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...

  15. Cash Use in Australia

    OpenAIRE

    Eden Hatzvi; Jessica Meredith; Rose Kenney

    2014-01-01

    This article uses results from the 2013 Survey of Consumers’ Use of Payment Methods and regression analysis to examine trends in cash use in Australia. The results show that cash remained the most common form of payment, though its use relative to other payment methods has declined over recent years. Older participants were more likely to use cash than younger participants and all participants were more likely to use cash for low-value transactions relative to other payment methods. In additi...

  16. An assessment of the impact of the JSY cash transfer program on maternal mortality reduction in Madhya Pradesh, India

    Directory of Open Access Journals (Sweden)

    Marie Ng

    2014-12-01

    Full Text Available Background: The Indian Janani Suraksha Yojana (JSY program is a demand-side program in which the state pays women a cash incentive to deliver in an institution, with the aim of reducing maternal mortality. The JSY has had 54 million beneficiaries since inception 7 years ago. Although a number of studies have demonstrated the effect of JSY on coverage, few have examined the direct impact of the program on maternal mortality. Objective: To study the impact of JSY on maternal mortality in Madhya Pradesh (MP, one of India's largest provinces. Design: By synthesizing data from various sources, district-level maternal mortality ratios (MMR from 2005 to 2010 were estimated using a Bayesian spatio-temporal model. Based on these, a mixed effects multilevel regression model was applied to assess the impact of JSY. Specifically, the association between JSY intensity, as reflected by 1 proportion of JSY-supported institutional deliveries, 2 total annual JSY expenditure, and 3 MMR, was examined. Results: The proportion of all institutional deliveries increased from 23.9% in 2005 to 55.9% in 2010 province-wide. The proportion of JSY-supported institutional deliveries rose from 14% (2005 to 80% (2010. MMR declines in the districts varied from 2 to 35% over this period. Despite the marked increase in JSY-supported delivery, our multilevel models did not detect a significant association between JSY-supported delivery proportions and changes in MMR in the districts. The results from the analysis examining the association between MMR and JSY expenditure are similar. Conclusions: Our analysis was unable to detect an association between maternal mortality reduction and the JSY in MP. The high proportion of institutional delivery under the program does not seem to have converted to lower mortality outcomes. The lack of significant impact could be related to supply-side constraints. Demand-side programs like JSY will have a limited effect if the supply side is unable

  17. Secure Electronic Cash Scheme with Anonymity Revocation

    Directory of Open Access Journals (Sweden)

    Baoyuan Kang

    2016-01-01

    Full Text Available In a popular electronic cash scheme, there are three participants: the bank, the customer, and the merchant. First, a customer opens an account in a bank. Then, he withdraws an e-cash from his account and pays it to a merchant. After checking the electronic cash’s validity, the merchant accepts it and deposits it to the bank. There are a number of requirements for an electronic cash scheme, such as, anonymity, unforgeability, unreusability, divisibility, transferability, and portability. Anonymity property of electronic cash schemes can ensure the privacy of payers. However, this anonymity property is easily abused by criminals. In 2011, Chen et al. proposed a novel electronic cash system with trustee-based anonymity revocation from pairing. On demand, the trustee can disclose the identity for e-cash. But, in this paper we point out that Chen et al.’s scheme is subjected to some drawbacks. To contribute secure electronic cash schemes, we propose a new offline electronic cash scheme with anonymity revocation. We also provide the formally security proofs of the unlinkability and unforgeability. Furthermore, the proposed scheme ensures the property of avoiding merchant frauds.

  18. Competence of birth attendants at providing emergency obstetric care under India’s JSY conditional cash transfer program for institutional delivery: an assessment using case vignettes in Madhya Pradesh province

    OpenAIRE

    Chaturvedi, Sarika; Upadhyay, Sourabh; De Costa, Ayesha

    2014-01-01

    Background Access to emergency obstetric care by competent staff can reduce maternal mortality. India has launched the Janani Suraksha Yojana (JSY) conditional cash transfer program to promote institutional births. During implementation of the JSY, India witnessed a steep increase in the proportion of institutional deliveries-from 40% in 2004 to 73% in 2012. However, maternal mortality reduction follows a secular trend. Competent management of complications, when women deliver in facilities u...

  19. Policy-Oriented Research Impact Assessment (PORIA) case study on the International Food Policy Research Institute (IFPRI) and the Mexican PROGRESA anti-poverty and human resource investment conditional cash transfer program:

    OpenAIRE

    Behrman, Jere R.

    2007-01-01

    "The objective of this study is to attempt to characterize the influence and impact of IFPRI in relation to the Mexican PROGRESA/Oportunidades anti-poverty and human resource program with its conditional cash transfers (CCT)—conditional on specific investments in education, health, and nutrition. The paper first describes PROGRESA/Oportunidades and estimates of the impact and benefits-to-costs of this program; then discusses the challenges in assessing the influence and impact of IPRRI on and...

  20. 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.

  1. Is electronic cash possible?

    OpenAIRE

    Schmidt, Max; Schunter, Matthias; Weber, Arnd

    1998-01-01

    Cash-like payments in electronic commerce and at the traditional point of sale are expected to be beneficial, e.g., because of privacy protection, low transaction costs, and irrevocability. Therefore, we discuss how to design electronic cash in a way that it both mirrors the most important characteristics of raditional cash, but also fulfils the expectations which arise towards electronic means of payment. We analyse the problems and trade-offs between the different characteristics to be impl...

  2. 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.

  3. USING THE 18F PROGRAMMABLE MICROCHIP SERIES TO TRANSFER DATA VIA USB PORT

    OpenAIRE

    EGE, Yavuz

    2009-01-01

    In a mechanical system engine that provide the location change and controlling the automatic data via the measurement tools would reduce the duration of labor force and the loss of degradation. In computers, transferring the large data rapidly via serial port is not fast as the USB 2.0 ports; therefore USB 2.0 port is recently frequently being using speeding up the data transfer process. To use USB port, the 18f series PIC programmable microchips are needed. For this serial microchip compatib...

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

    International Nuclear Information System (INIS)

    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)

  5. Are consumers cashing out?

    OpenAIRE

    Paul W. Bauer; Daniel A. Littman

    2007-01-01

    The information age has led to many new forms of payment, including credit cards, debit cards, and online banking. In many ways, these new mechanisms seem preferable to cash. While the disappearance of cash is a very long way off, it seems people are starting to use it less.

  6. A COMPARATIVE THEORETICAL ANALYSIS OF THE IMPACT OF THE FOOD STAMP PROGRAM AS OPPOSED TO CASH TRANSFERS ON THE DEMAND FOR FOOD

    OpenAIRE

    Phillips, Kathryn S.; Price, David W.

    1982-01-01

    Comparative analysis of food demand expansion of a cash program, as compared to the food stamp program, is important for measuring trade-offs between goals of raising farm income and increasing food expenditures of the poor. A theoretical basis for assessing food demand impacts under each program is presented. Two effects are analyzed: 1) The effect on food demand of the individual household and 2) The effect of food demand at the aggregate level. Both indifference curve analysis and psycholo...

  7. Legal rights, efficiency and citizen involvement in the administration of social security cash benefits

    DEFF Research Database (Denmark)

    Von Hielmcrone, Nina

    2010-01-01

    overview. In order to improve efficiency in administering cash benefits and reduce cost, the Danish government has relied on the transfer of support benefits to bulk administration with the aid of Information Technology (IT). While the use of IT has enabled complicated calculations, it has given rise to a...... for the accretion of new special rules. They merely have to be coded into the system. The government’s modernisation programme has been carried out at the expense of transparency and the legal rights of the citizens. This article deals with Danish legislation; the mechanisms in question are common not...

  8. "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. PMID:26583922

  9. Heat transfer analysis of a programmable Josephson voltage standard chip operated with a mechanical cooler

    Science.gov (United States)

    Takahashi, Hikari; Maruyama, Michitaka; Amagai, Yasutaka; Yamamori, Hirotake; Kaneko, Nobu-hisa; Kiryu, Shogo

    2015-11-01

    We are developing a 10 V programmable Josephson voltage standard (PJVS) system using a 10 K mechanical cooler that enables liquid-helium-free operation. In our previous experiments, we identified a problem that the optimum bias operating points may be affected by the heating effect of the chip depending on the output voltage. In this study, we have observed cross-sectional and in-plane structures of the PJVS chip module in order to determine the cause of the heating effect. We perform a heat transfer analysis using the finite element method with several models based on the observation results. We confirm a temperature increase of approximately 100 mK at the chip surface, due mainly to unintended voids in the InSn solder.

  10. Operating Cash Surplus Determinations

    Directory of Open Access Journals (Sweden)

    Teodor HADA

    2009-01-01

    Full Text Available The paper defines the concept of operating surplus. Then, it is compared to thegross operating surplus and the differences are identified. The two calculationmethods are presented next: (1 operating revenue less operating charges and(2 the gross operating surplus less ΔWCN (Working capital needs lessimmobilised production less stored production less other operating revenues.Then, a three year study is presented (2005-2007 and the results areinterpreted. Then, there is a correlation between the operating cash flow surplusand the operating cash flows.

  11. Taxable Cash Dividends

    DEFF Research Database (Denmark)

    Bechmann, Ken L.; Raaballe, Johannes

    financed by the issuance of new shares. Taxable cash dividends financed by the issuance of new shares then can be considered a positive kind of money burning whose role is to signal a firm's high quality. The implications of the models are consistent with several important empirical facts about dividends......Firms pay out cash using both dividends and share repurchases. In many aspects these twomeans 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...

  12. "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.

  13. New Frames for Old Masters. An overview of the British Library's Acetate Transfer programme

    Directory of Open Access Journals (Sweden)

    Sandy Ryan

    2005-08-01

    Full Text Available After the second International Round Table on acetate microfilm, the British Library decided to top slice from its annual preservation budget, £200k every year for five years to address its cellulose acetate problem. We did this by instigating a programme of base transfer, transferring the frames from the old acetate masters onto new polyester stock. It proved to be quite a challenge and this paper reproduces largely the presentation given at CAMF, which was an overview of the background to the project and its progress. Twenty three million feet. Not a centipedes' picnic, but the amount of acetate microfilm the British Library has in its collections. A sobering statistic. But what does it really mean? Well, if we rolled it all out, it would be enough to stretch all the way from New York to Moscow. Or, for the more vertically minded, if we piled it all up, it would be taller than not just 1 Mount Everest, but 809. That represents a pretty huge problem whichever way you look at it and my first thought when it was handed to me was, 'where on earth do we start?'

  14. Effectiveness of radio-agricultural farmer programme in technology transfer among rural farmers in Imo State, Nigeria

    Directory of Open Access Journals (Sweden)

    Njoku, J. I. K.

    2016-05-01

    Full Text Available The study was carried out in Imo State to examine the effectiveness of radio-agricultural farmer programme in technology transfer to rural farmers in Imo State, Nigeria. Multi-stage random sampling technique was used to select 120 respondents from the three agricultural zones of Imo State. Data were obtained using interview schedule and were analyzed using descriptive and inferential statistics. Result shows that majority of the respondents were males, married and educated with the mean age of 46 years. Result indicates that majority of the respondents indicate that radio-agricultural farmer programme was effective in technology transfer to rural farmers. Result further indicates that most (100% of the respondents confirmed that improved technologies transferred were relevant to their farm practices.

  15. Day care schemes and cash for-care at home

    DEFF Research Database (Denmark)

    Eydal, Gudny; Rostgaard, Tine

    2012-01-01

    The purpose of this chapter is to analyse and compare Nordic day-care policies, i.e. ECEC services as well as cash-for-care for children under school age. The chapter examines the legislative purpose behind the provision of the services and the cash benefits as well as the take-up rates. The review...... of day-care will also look at how the programmes are organised and funded, and at the quality indicators of the care provided. In this context, the Nordic countries will be compared with the EU average. The review of cash-for-care will assess the key elements of the programmes: the length of time...

  16. The French Training Programme for nuclear safety engineers, specially designed to transfer know-how to developing countries

    International Nuclear Information System (INIS)

    Agreements between the French Government and the developing countries entail a general commitment to transfer know-how. The need for nuclear safety training is often expressed. In addition, the expansion of the French nuclear programme has led to an increase in the staff of the national safety organizations. To meet these needs, the Nuclear Protection and Safety Institute (IPSN) has set up an original training programme which is open both to its own staff and to foreign participants. The programme is spread over a year and consists of an intensive study session of five weeks, a series of training programmes in the various departments of the Institute, and seminars at the end of the training period for all the trainees. At the end of the programme, each trainee presents to an examining panel the work he or she has performed in the last two or three training periods, which will normally relate to one specific area. The aims of the training programme are to give participants an overall view of safety problems with the accent on a particular type of nuclear facility, to enable participants to study in depth either the general practices or specific aspects of safety analysis, and particularly to become specialized in one aspect thereof, and to allow foreign participants access to the working methods used in France. The first training programme allowed us to examine how it operated. Lessons were drawn following an in-depth evaluation of the initial activities. A number of improvements were included in the second training programme. (author)

  17. State and socio-demographic group variation in out-of-pocket expenditure, borrowings and Janani Suraksha Yojana (JSY) programme use for birth deliveries in India

    OpenAIRE

    Modugu Hanimi Reddy; Kumar Manish; Kumar Ashok; Millett Christopher

    2012-01-01

    Abstract Background High out-of-pocket-expenditure (OOPE) deters families from seeking skilled/institutional care. ‘Janani Suraksha Yojana (JSY), a conditional cash transfer programme launched in 2005 to mitigate OOPE and to promote institutional deliveries among the poor, is part of Government of India’s efforts to achieve Millennium Development Goals (MDGs) 4 and 5. The objective of this study is to estimate variations in OOPE for normal/caesarean-section deliveries, JSY-programme use and d...

  18. `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.

  19. Effectiveness of radio-agricultural farmer programme in technology transfer among rural farmers in Imo State, Nigeria

    OpenAIRE

    Njoku, J. I. K.

    2016-01-01

    The study was carried out in Imo State to examine the effectiveness of radio-agricultural farmer programme in technology transfer to rural farmers in Imo State, Nigeria. Multi-stage random sampling technique was used to select 120 respondents from the three agricultural zones of Imo State. Data were obtained using interview schedule and were analyzed using descriptive and inferential statistics. Result shows that majority of the respondents were males, married and educated with the mean age o...

  20. Accounting for the Corporate Cash Increase

    OpenAIRE

    Jake Zhao

    2014-01-01

    Why do U.S. firms hold much more cash now than they did 30 years ago? Prior empirical studies have discovered a statistically significant positive relationship between firm cash holdings and cash flow volatility. Such findings, however, are subject to endogeneity problems. In this paper, I construct a structural model of firm dynamics where cash provides a buffer against cash-flow shortfalls in the presence of costly external finance. My model finds that 63% of the increase in corporate cash ...

  1. E-Cash Payment Protocols

    Directory of Open Access Journals (Sweden)

    Shweta Srivastava

    2012-09-01

    Full Text Available E-cash is a payment system designed and implemented for making purchases over open networks such as the Internet. Need of a payment system which enables the electronic transactions are growing at the same time that the use of Internet is growing in our daily life. Present days electronic payment systems have a major problem, they cannot handle the security and the users anonymity and at the same time these systems are secure on the cost of their users anonymity. This paper shows the payment protocols for digital cash and discusses how a digital cash system can be formed by presenting a few of the present days digital cash systems in details. We also provide a comparison and determine them together to see which one of them fulfils the properties for digital cash and the required security level.

  2. 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.   

  3. "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…

  4. Cash efficiency for bank branches

    OpenAIRE

    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 ...

  5. Community perspectives: Community check cashing

    OpenAIRE

    Daniel Leibsohn

    2011-01-01

    In May of 2009, Community Development Finance (CDF) opened the first nonprofit, full-service check cashing store in the country in Fruitvale, California. The project is designed to provide low-income households with the financial services they need, without the asset-stripping characteristics common to the fringe banking industry. In addition to providing affordable check cashing services and a payday loan product, CDF also provides financial coaching and literacy training, small business ass...

  6. Marathon Running, Accreditation of Study Programmes and Professional Development in Consultancies: Are They All about the Same? A Cognitive Perspective on Transfer of Training

    Science.gov (United States)

    Gruber, Hans

    2013-01-01

    Three challenges are presented which address problems of transfer of training: running marathon, accreditation of study programmes, professional development in consultancies. It is discussed in-how-far and why different approaches to transfer of training stress commonalities or differences between these challenges. The results are used to analyse…

  7. Understanding the Cash Flow-Fundamental Ratio

    OpenAIRE

    Chyi-Lun Chiou

    2015-01-01

    This article investigates the use of cash flow-fundamental ratio in forecasting stock market return and examines implications behind this ratio. By presuming the dynamics of cash flow-fundamental ratio I identify the relationship between economic uncertainty and risk premium. The evidence shows that cash flow-fundamental ratio is procyclical and is a predictor of cash flow growth and excess returns. The cash flow-fundamental ratio is proved to be negatively associated with risk premium. I als...

  8. An Investigation into Cash Flow Forecasts Practices

    OpenAIRE

    Kum, Chi Leng

    2010-01-01

    Cash flow forecasts are the most important step in the capital budgeting process in terms of planning effectively to finance for cash deficit and invest cash surplus for capital expenditure decisions. Despite its importance, little progress has been made in its estimation process, due to the difficulty of producing accurate cash flow numbers for the analysis of capital budgeting decisions. This management project details the investigation of the cash flow forecasts practices and highlights so...

  9. Transfer of Animal Traction Technology in Mbozi, Tanzania. The case of "Agricultural Development Programme-Mbozi"

    OpenAIRE

    Makitwange, G.

    1992-01-01

    The Agricultural Development Programme (ADP) is an integrated agricultural project in Mbozi District covehng some 90 villages with the aim to increase food production of smallholder farmers in a sustainable way. After having gained enough experience, a proper ox-mechanization policy was worked out. At the end of 1991, the project started an experiment with a womengroup in a very isolated area engaged in maize grinding using an ox-driven maize-mill.

  10. 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, and...

  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 BACKGROUND: 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. OBJECTIVE: To assess the effect of maternal receipt of financial assistance from JSY on childhood immunizations, post-partum care, breastfeeding practices, and care-seeking behaviors. METHODS: 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. RESULTS: 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. CONCLUSIONS: 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

  12. 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...

  13. Converting accounts receivable into cash.

    Science.gov (United States)

    Folk, M D; Roest, P R

    1995-09-01

    In recent years, increasing numbers of healthcare providers have converted their accounts receivable into cash through a process called securitization. This practice has gained popularity because it provides a means to raise capital necessary to healthcare organizations. Although securitization transactions can be complex, they may provide increased financial flexibility to providers as they prepare for continuing change in the healthcare industry. PMID:10145096

  14. Pawn Shop,Cash Cow

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    An expat in Beijing once wrote these words on his blog,"If you are anxious to exchange your valuables for cash,or want to collect some treasures in Beijing,you may visit Bao Rui Tong Pawn Shop which features agreeable environment,reliable credit,guaranteed quality and profes- sional service."That releases the com-

  15. Rx for low cash yields.

    Science.gov (United States)

    Tobe, Chris

    2003-10-01

    Certain strategies can offer not-for-profit hospitals potentially greater investment yields while maintaining stability and principal safety. Treasury inflation-indexed securities can offer good returns, low volatility, and inflation protection. "Enhanced cash" strategies offer liquidity and help to preserve capital. Stable value "wrappers" allow hospitals to pursue higher-yielding fixed-income securities without an increase in volatility. PMID:14560584

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

    OpenAIRE

    Tănase Alin-Eliodor; Calota Traian-Ovidiu

    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...

  17. Liquid money or hard cash? Drowning into granular material

    OpenAIRE

    Bagnoli, Franco

    2016-01-01

    In British English, the term "hard cash" refers to the form of payment using coins or bill, rather than cheques or credit or money transfer. In American English, it is often prefixed by the adjective "cold". On the contrary, in Italian the equivalent expression "denaro liquido" can be literary translated as "liquid money". In French the expression is equivalent with the additional factor, with respect to the rest of this discussion, that money becomes "argent". We have therefore two very diff...

  18. Fair Electronic Cash Based on Double Signatures

    Institute of Scientific and Technical Information of China (English)

    陈晓峰; 王常杰; 王育民

    2002-01-01

    In order to decrease crimes such as money laundering, blackmailing etc. inelectronic cash systems, fair electronic cash has been a major focus of academic research inelectronic commence. When a bank finds some dubious cash or owner, the trusted entity ortrustee can help him to revoke the anonymity of the cash. In the previous protocols, the trusteeknows all the information of the cash whether he is trusted or not, that is, he can trace the useror cash unconditionally. Furthermore, the dishonest trustee may deceive a user, which meansthat he may withdraw cash while tracing other users. Such cases are unfair to the honest users.A new fair electronic cash protocol based on untrustworthy trustees is proposed in thispaper. The key idea is that the coin structure should include the signatures of both the trusteeand the bank so that the trustee shares the information of the cash with the bank, while we donot use the secret sharing scheme. In contrast with the previous protocols, neither the trusteenor the bank can trace the money without the help of the other entity. In this way, the privacyof the user is protected furthest. Also, the trustee is off-line in the protocol, which meansthat he will not be involved in withdrawing the cash. Therefore, the protocol is efficient forimplementation.

  19. 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...

  20. Cash, food, or vouchers?: Evidence from a randomized experiment in northern Ecuador

    OpenAIRE

    Hidrobo, Melissa; Hoddinott, John F.; Peterman, Amber; Margolies, Amy; Moreira, Vanessa

    2012-01-01

    The debate over whether to provide food assistance and the form that this assistance should take has a long history in economics. Despite the ongoing debate, little rigorous evidence exists that compares food assistance in the form of cash versus in-kind. This paper uses a randomized evaluation to assess the impacts and cost-effectiveness of cash, food vouchers, and food transfers. We find that all three modalities significantly improve the quantity and quality of food consumed. However, diff...

  1. 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.

  2. An Internet Based Anonymous Electronic Cash System

    OpenAIRE

    Israt Jahan; Mohammad Zahidur Rahman; K M Akkas Ali; Israt Jerin

    2015-01-01

    There is an increase activity in research to improve the current electronic payment system which is parallel with the progress of internet. Electronic cash system is a cryptographic payment system which offers anonymity during withdrawal and purchase. Electronic cash displays serial numbers which can be recorded to allow further tracing. Contrary to their physical counterparts, e-cash have an inherent limitation; they are easy to copy and reuse (double-spending). An observer is a tamper-resis...

  3. Corporate Cash Holdings, National Culture, and Multinationality

    OpenAIRE

    Andres Ramirez; Solomon Tadesse

    2007-01-01

    We examine the relations between national cultures, the multinationality of the firm and its holdings of cash. We develop several hypotheses from well known corporate finance theories and theories of the multinational firm, positing that cultural factors as well as the degree of multinationality of firms influence their decisions to hold cash. In particular, firms in countries with high uncertainty avoidance, as a national culture, hold more cash as a way to hedge against undesired states of ...

  4. Analysis and Accounting of Total Cash Flow

    OpenAIRE

    MELANIA ELENA MICULEAC

    2012-01-01

    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 consequen...

  5. The Market for Electronic Cash Cards

    OpenAIRE

    Shy, Oz; Tarkka , Juha

    1998-01-01

    We develop a theoretical framework aimed to model the pricing of electronic money (electronic cash cards) and the market domain in which it will be used. We first calculate the fee structures of electronic cash- and charge-card industries for the monopoly and competitive cases. We show that the different market structures do not affect the domain of electronic cash cards and the displacement of currency in daily transactions. We provide a welfare analysis to determine whether a market equilib...

  6. 'CATT' A project on Co-operation and Technology Transfer on Long-Term Radioactive Waste Management for EU Member States with Small Nuclear Programmes

    International Nuclear Information System (INIS)

    Many of the European Union's (EU) 25 countries have considerable inventories of long-lived radioactive waste that will remain potentially hazardous for many thousands of years. Of these, several have advanced concepts and programmes for the treatment and disposal (and other long - term management options) for spent fuel and long-lived radioactive waste. Collectively, these Member States have spent the equivalent of many billions of euros in developing such concepts and some have further developed the concepts into proposed operational facilities. Member States with small nuclear programmes, face the expensive and daunting prospect o f developing their own concepts for dealing with their spent fuel and high level waste. One answer would be to seek solutions which could take advantage of the investment costs in the technology and underpinning science already incurred in the more established programmes. Thus technology transfer between Member States in areas of high level waste and spent fuel encapsulation, repository development etc. would allow the establishment of disposal facilities within any Member State for it to deal with its own wastes. The national waste management organisations of the UK (Mirex), Sweden (SKB), German y (DBE), Lithuania (RATA), Bulgaria (DPRAO) and Slovenia (ARAO), together with JRC of the Netherlands, are to undertake a project under the auspices of the EU's 6. R and D Framework Programme (FP6). The 18 month project will examine the technical, intellectual property, legal, financial and societal implications of the idea. It goes by the acronym 'CATT' - 'Cooperation and technology transfer on long term radioactive waste management for Member States with small nuclear programmes'. This paper describes the CATT project which will look at technology transfer methodologies by which Member States could co-operate. It covers the potential issues which may arise and ho w these may be addressed. (authors)

  7. 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. PMID:24982931

  8. Revision of the IAEA technical reports series No. 364 (handbook of parameter values for the prediction of radionuclide transfer in temperature environments) in IAEA/EMRA programme

    International Nuclear Information System (INIS)

    At September 2003, the International Atomic Energy Agency (IAEA) launched the programme on Environmental Modelling for RAdiation Safety (EMRAS) which was scheduled for four years period. The EMRAS is an extension of the VAlidation of Model Predictions (VAMP, 1988-1994), the BIOspheric MOdel Validation Study (BIOMOVS, I: 1986-1990, II: 1990-1996) and the BIOsphere Modelling and ASSessment (BIOMASS, 1996-2000), and most topics covered by this programme are concerned with intercomparisons and validities of the prediction model of radionuclide transfer in environments. The EMRAS has three themes and seven working groups. This review introduced activities of the Revision of IAEA Technical Report Series No. 364 'handbook of parameter values for the prediction of radionuclide transfer in temperature environments' working group. (J.P.N.)

  9. E-Cash Payment Protocols

    OpenAIRE

    Shweta Srivastava; Vandana Saraswat

    2012-01-01

    E-cash is a payment system designed and implemented for making purchases over open networks such as the Internet. Need of a payment system which enables the electronic transactions are growing at the same time that the use of Internet is growing in our daily life. Present days electronic payment systems have a major problem, they cannot handle the security and the users anonymity and at the same time these systems are secure on the cost of their users anonymity. This paper shows the payment p...

  10. 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

  11. 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...

  12. 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…

  13. 12 CFR 220.8 - Cash account.

    Science.gov (United States)

    2010-01-01

    ... Banking FEDERAL RESERVE SYSTEM (CONTINUED) BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM CREDIT BY...; cancellation or liquidation—(1) Full cash payment. A creditor shall obtain full cash payment for customer... additional payment period. (4) Cancellation; liquidation; minimum amount. A creditor shall promptly cancel...

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

    DEFF Research Database (Denmark)

    Bingley, Paul; Walker, Ian

    1997-01-01

    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......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...

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

    Institute of Scientific and Technical Information of China (English)

    Jeng-Ren Chiou; Yenn-Ru Chen; Ting-Chiao Huang

    2010-01-01

    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.

  16. An Internet Based Anonymous Electronic Cash System

    Directory of Open Access Journals (Sweden)

    Israt Jahan

    2015-04-01

    Full Text Available There is an increase activity in research to improve the current electronic payment system which is parallel with the progress of internet. Electronic cash system is a cryptographic payment system which offers anonymity during withdrawal and purchase. Electronic cash displays serial numbers which can be recorded to allow further tracing. Contrary to their physical counterparts, e-cash have an inherent limitation; they are easy to copy and reuse (double-spending. An observer is a tamper-resistant device, issued by the Internet bank, which is incorporated with the Internet user’s computer that prevents double-spending physically, i.e., the user has no access to her e-cash and therefore he cannot copy them. In this paper, we shall present an anonymous electronic cash scheme on the internet which incorporates tamper-resistant device with user-module.

  17. Solar energy, a cash machine

    International Nuclear Information System (INIS)

    A first article outlines that the solar energy sector attracts investors which are looking for secure returns. It is notably the case in the United States where companies are undergoing spectacular growth: solar installations are perceived as cash flow factories. A second article comments the consequences of this evolution of investments: the photovoltaic sector is now competitive and thus enters a new dimension with a mass development (indicators of installed power as it is in 2014 and will be 2019 are given for the main markets which are USA, Chile, Europe, South Africa, India, China, Japan and Australia). A third article comments this increase of investors who decide to invest in industries related to energy transition as they perceive these investments less risky on the long term, notably in relationship with climate. The success of crowd-funding practices is briefly evoked for projects related to sustainable development

  18. 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.

  19. Anonymous Fingerprinting Based on Electronic Cash

    Institute of Scientific and Technical Information of China (English)

    CHENXiaofeng; ZHANGFangguo; WANGJilin; WANGYumin

    2003-01-01

    A new anonymous fingerprinting protocol based on the principle of electronic cash is proposed in this paper.Redistributing a data item is equal to doublespending electronic cash.Contrasting with the previous coin-based anonymous fingerprinting protocol,we use the real electronic cash to trace traitors instead of the "coins" which serve only as a cryptographic primitive and have no monetary value,so it is easily understood and the bank does not need key-distribution and registration to prepare the "coina".

  20. 47 CFR 36.182 - Cash working capital.

    Science.gov (United States)

    2010-10-01

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

  1. Does direct cash flow presentation help in predicting future operating cash flow?

    OpenAIRE

    Simões, Flavio Manuel Vilas-Boas

    2012-01-01

    Research literature and regulators are unconditional in pointing the disclosure of operating cash flow through direct method a section of unique information. Besides the intuitive facet, it is also consistent in forecasting future operating cash flows and a cohesive piece to financial statement puzzle. Bearing this in mind, I produce an analysis on the usefulness and predictive ability on the disclosure of gross cash receipts and payments over the disclosure of reconciliation between net inco...

  2. Liquid money or hard cash? Drowning into granular material

    CERN Document Server

    Bagnoli, Franco

    2016-01-01

    In British English, the term "hard cash" refers to the form of payment using coins or bill, rather than cheques or credit or money transfer. In American English, it is often prefixed by the adjective "cold". On the contrary, in Italian the equivalent expression "denaro liquido" can be literary translated as "liquid money". In French the expression is equivalent with the additional factor, with respect to the rest of this discussion, that money becomes "argent". We have therefore two very different points of view: Is money hard and cold, or rather liquid and "jingling" ("moneta sonante")? As usual, we shall investigate this topic starting from some comics about the duck family.

  3. 25 CFR 141.19 - Check cashing.

    Science.gov (United States)

    2010-04-01

    ... may give a fully negotiable check in addition to U.S. currency when cashing a draft, check or money... or any other obligation the customer owes to the business, but in no event may the owner or...

  4. 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

  5. Cash flow forecasting in startup companies

    OpenAIRE

    Zhou, Yang

    2016-01-01

    This study examines cash flow forecasting practices in the context of the startup company phenomenon in Finland. The first objective of this study is to investigate that how cash flow forecasting has been practiced in startup companies. A startup company is a young innovative organization founded to seek a scalable and repeatable business model, in this sense growth has become the most important topic for startup companies. Therefore, secondary objective of this study is to investigate how a ...

  6. Forecasting Daily Demand in Cash Supply Chains

    OpenAIRE

    Michael Wagner

    2010-01-01

    Problem statement: Previous studies focused on explaining the long run determinants of currency demand offering limited insight into the short-run determinants and co-variability of daily demand in cash supply chains. Approach: This study contrasted competing techniques of forecasting daily demand in cash supply chains in order to determine the overall performance and the potential of joint forecasting for integrated planning. A joint forecasting approach was compared with...

  7. Cash Holdings and Finance Constraints in Indian Manufacturing Firms

    OpenAIRE

    Vikash Gautam; Ashish Singh; Sarthak Gaurav

    2014-01-01

    This paper attempts to explore the effect of finance constraints by examining the propensity of firms to save cash out of cash flows. Drawing on cash-cash flow sensitivity (CCFS), we overcome the errors in attributing information in cash flows to real and financial components. We employ endogenous regime switching model for our empirical exercise. This model allows for multiple sorting variables, does not require finance constraints to increase monotonically with the sorting variables and ena...

  8. Determination of Optimal Cash Position of Mutual Fund

    Institute of Scientific and Technical Information of China (English)

    陈铭新; 张世英

    2003-01-01

    Cash position, held by mutual fund with purpose to satisfy investors′ redemption, will inevitably generate certain amount of cost. In this paper, the total cost caused by cash position is divided into opportunity cost and shortage cost, and a model is constructed to describe the relationship between total cost and cash position along with investors′ purchase and redemption, from which the formula of optimal cash position is deduced. Finally, the adjustment of optimal cash position in different market situations is discussed.

  9. Distributional impacts of cash allowances for children: A microsimulation analysis for Russia and Europe

    OpenAIRE

    Popova, Daria

    2014-01-01

    This paper analyses programmes of cash allowances for children and compares their effectiveness in combating child poverty in Russia and four EU countries – Sweden, Germany, Belgium and the United Kingdom. These countries are selected as representatives of alternative family policy models. Using microsimulation models (RUSMOD and EUROMOD), this paper estimates the potential gains if the Russian system were re-designed along the policy parameters of these countries and vice versa. Such an ex...

  10. A Fair E-Cash Payment Scheme Based on Credit

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    A new fair e-cash payment scheme based on credit is present in this paper. In the scheme, an overdraft credit certificate is issued to user by bank. Using the overdraft credit certificate, user can produce e-cash himself to pay in exchanges. Merchant can verify the e-cash received from user. Bank can make a fair dispute resolution when there is a dissension between user and merchant. It can avoid the problem of partition e-cash for changes, prevent from reusing e-cash and faking e-cash. It fits justice, anonymity, non-deny and impartiality.

  11. VAT Cash Accounting Scheme in Romania

    Directory of Open Access Journals (Sweden)

    BUNEA-BONTAS Cristina Aurora

    2013-05-01

    Full Text Available VAT cash accounting enables the small enterprises to account for VAT on the basis of payments received and made, instead of on tax invoices issued and received. Accordingly, the VAT payable or repayable for each accounting period is the difference between the total amount of VAT included in payments received from the customers and the total amount of VAT included in payments made to the suppliers. The VAT cash accounting scheme, recently introduced for the Romanian companies by Government Ordinance no. 15/2012, entered into force on January 1st, 2013. This article reviews the basic principles of VAT cash accounting and highlights its benefits and disadvantages. It also discusses the impact and the challenges for the Romanian companies, due to the particularities of the system.

  12. An Efficient Fair Electronic Cash System

    Institute of Scientific and Technical Information of China (English)

    Guo Tao(郭涛); Li Zhitang; Tan Yunmeng; Wu Shizhong

    2003-01-01

    In this paper, an efficient fair e-cash system is presented. Based on the improved Brands' e-cash scheme, it is expanded by adding two roles, government and judges. The user can keep unconditionally anonymous in normal transactions. Authorized by the judges, the government can remove the identity of an illegal user with the help of the bank. So such misuse as blackmailing or money laundering can be prevented. Therefore, this scheme is more efficient, more suitable for adopting pre-processing and post-processing and more practical. In the paper, the details of the scheme are described, its security is proved, and its efficiency is analyzed.

  13. 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.

  14. Project Evaluation and Cash Flow Forecasting by Stochastic Simulation

    OpenAIRE

    Odd A. Asbjørnsen

    1983-01-01

    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.

  15. How Do Debit Cards Affect Cash Demand? Survey Data Evidence

    OpenAIRE

    Helmut Stix

    2003-01-01

    This paper analyzes how EFT-POS payments and ATM withdrawals affect purse cash demand. In particular, survey data about Austrian individuals are employed to estimate a cash demand equation which takes account of sample selection effects. The results reveal that purse cash demand is significantly affected by debit card usage and that there are significant differences in cash demand for individuals with different debit card usage frequencies. For example, the point estimates imply that individu...

  16. How Do Firms Finance Large Cash Flow Requirements

    OpenAIRE

    Huang, Zhangkai; Mayer, Colin; Sussman, Oren

    2008-01-01

    How do firms finance large cash flow requirements? We examine this in the context of firms that are subject to substantial cash flow requirements. We find that trade credit, inventory and cash stock reductions are all important in the short term for mild requirements. Larger and longer cash flow shortages give rise to more equity than debt finance. After the shocks, firms gradually adjust their leverage back to pre-shock levels by retiring debt and issuing equity. Financing pat...

  17. 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...

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

    OpenAIRE

    Negrea Laura Georgeta; Matis Dumitru; Mustata V. Razvan

    2011-01-01

    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...

  19. Easy come-easy go divisible cash

    Energy Technology Data Exchange (ETDEWEB)

    Chan, A.; Tsiounis, Y. [Northeastern Univ., Boston, MA (United States). Coll. of Computer Science; Frankel, Y. [Sandia National Labs., Albuquerque, NM (United States)

    1996-10-16

    Recently, there has been an interest in making electronic cash protocols more practical for electronic commerce by developing e-cash which is divisible (e.g., a coin which can be spent incrementally but total purchases are limited to the monetary value of the coin). In Crypto`95, T. Okamoto presented the first practical divisible, untraceable, off-line e-cash scheme, which requires only O(log N) computations for each of the withdrawal, payment and deposit procedures, where N = (total coin value)/(smallest divisible unit). However, Okamoto`s set-up procedure is quite inefficient (on the order of 4,000 multi-exponentiations and depending on the size of the RSA modulus). The authors formalize the notion of range-bounded commitment, originally used in Okamoto`s account establishment protocol, and present a very efficient instantiation which allows one to construct the first truly efficient divisible e-cash system. The scheme only requires the equivalent of one (1) exponentiation for set-up, less than 2 exponentiations for withdrawal and around 20 for payment, while the size of the coin remains about 300 Bytes. Hence, the withdrawal protocol is 3 orders of magnitude faster than Okamoto`s, while the rest of the system remains equally efficient, allowing for implementation in smart-cards. Similar to Okamoto`s, the scheme is based on proofs whose cryptographic security assumptions are theoretically clarified.

  20. 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…

  1. CASH ACCOUNTING STANDARDIZATION IN THE PUBLIC SECTOR

    OpenAIRE

    Cenar Iuliana

    2010-01-01

    An important component of public institutions’ accounting is represented by cashaccounting. At the same time, the normalization, harmonization and convergence of accounting arethe chronological stages generated by globalization. The paper approaches aspects regarding therole of the budget within public institutions’ accounting, the management of public financialresources, the cohabitation need between cash accounting and accrual accounting, the provisionsof international accounting referentia...

  2. Reserves and cash flows under stochastic retirement

    DEFF Research Database (Denmark)

    Gad, Kamille Sofie Tågholt; Nielsen, Jeppe Woetmann

    2015-01-01

    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...

  3. 34 CFR 668.166 - Excess cash.

    Science.gov (United States)

    2010-07-01

    ... funds that an institution receives from the Secretary under the just-in-time payment method. (b) Excess...; and (2) Providing funds to the institution under the reimbursement payment method or cash monitoring payment method described in § 668.163(d) and (e), respectively. (Authority: 20 U.S.C. 1094)...

  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. 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. PMID:10302282

  6. 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...

  7. The Farm Level Economic Impacts of Increased Cash Lease Rates

    OpenAIRE

    Raulston, J. Marc; Knapek, George M.; Richardson, James W.; Outlaw, Joe L.; Anderson, David P.

    2008-01-01

    Higher commodity price expectations have led to increases in cash lease rates nationwide. This study evaluates the farm level impacts of higher cash lease rates. Current levels of cash rents along with land tenure arrangements of specific farms are instrumental in determining the impacts of increases in lease rates.

  8. 12 CFR 952.5 - Community Investment Cash Advance Programs.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Community Investment Cash Advance Programs. 952.5 Section 952.5 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK ASSETS AND OFF-BALANCE SHEET ITEMS COMMUNITY INVESTMENT CASH ADVANCE PROGRAMS § 952.5 Community Investment Cash Advance Programs. (a) In general. (1) Each...

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

    International Nuclear Information System (INIS)

    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. Prudency reviews, cash management issues emerge

    Energy Technology Data Exchange (ETDEWEB)

    1985-06-01

    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.

  11. Cash flow management in construction firms

    OpenAIRE

    Mutti, Cristine do Nascimento; Hughes, Will

    2002-01-01

    The level of insolvencies in the construction industry is high, when compared to other industry sectors. Given the management expertise and experience that is available to the construction industry, it seems strange that, according to the literature, the major causes of failure are lack of financial control and poor management. This indicates that with a good cash flow management, companies could be kept operating and financially healthy. It is possible to prevent failure. Although there ...

  12. Buybacks in Treasury cash and debt management

    OpenAIRE

    Garbade, Kenneth D.; Rutherford, Matthew

    2007-01-01

    This paper examines the use of buybacks in Treasury cash and debt management. We review the mechanics and results of the buyback operations conducted in 2000-01, during a time of budget surpluses, and assess the prospective use of buybacks in the absence of a surplus. Possible future applications include (i) managing the liquidity of the new-issue markets when deficits are declining (by allowing Treasury officials to postpone a decision to discontinue a series without also being compelled to ...

  13. Immigration and welfare state cash benefits

    DEFF Research Database (Denmark)

    Pedersen, Peder J.

    2013-01-01

    policy programs and to extend the analysis to cover the period including the financial crisis years. Social implications – The paper has a potential to influence public attitudes in this area and to inform further public policy regarding benefit programs. Originality/value – The main new result is the...... finding, at a disaggregate level, of how changes in immigration policy and cyclical changes interact, influencing the assimilation into or out of dependence on cash benefit programs....

  14. Poker Cash Game: a Thermodynamic Description

    CERN Document Server

    Javarone, Marco Alberto

    2015-01-01

    Poker is one of the most popular card games, whose rational investigation represents also one of the major challenges in several scientific areas, spanning from information theory and artificial intelligence to game theory and statistical physics. In principle, several variants of Poker can be identified, although all of them make use of money to make the challenge meaningful and, moreover, can be played in two different formats: tournament and cash game. An important issue when dealing with Poker is its classification, i.e., as a `skill game' or as gambling. Nowadays, its classification still represents an open question, having a long list of implications (e.g., legal and healthcare) that vary from country to country. In this study, we analyze Poker challenges, considering the cash game format, in terms of thermodynamics systems. Notably, we propose a framework to represent a cash game Poker challenge that, although based on a simplified scenario, allows both to obtain useful information for rounders (i.e., ...

  15. Documenting Spreadsheets with Pseudo-Code: an Exercise with Cash-Flow and Loans

    CERN Document Server

    Paine, Jocelyn

    2009-01-01

    "Look before you leap"; "a stitch in time saves nine"; "more haste, less speed". Many proverbs declare the wisdom of planning before doing. We suggest how to apply this to Excel, by explaining and specifying spreadsheets before coding them, so there will always be documentation for auditors and maintenance programmers. The specification method uses "pseudo-code": code that, for precision and conciseness, resembles a programming language, but is not executable. It is, however, based on the notation used by our Excelsior spreadsheet generator, which is executable. This paper is structured as a tutorial, in which we develop a simple cash-flow and loans spreadsheet.

  16. 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...

  17. A Divisible E-cash System Using Secret Sharing

    Institute of Scientific and Technical Information of China (English)

    CHEN Kai; XIAO Guozhen

    2001-01-01

    Divisibility of an e-cash is an impor-tant requirement for a practical e-cash system but hasno practical solution up to now.In this paper,a divis-ible e-cash system for some special applications is pro-posed using the secret sharing scheme.A verifiable se-cret sharing scheme based on the intractable discretelogarithm problem is put forward as the building blockin constructing the e-cash system.The e-cash systemis smart-card oriented and the card is denoted as thehonest dealer to divide the coin in the payment proto-col.The security of the divisible e-cash system can bederived directly from the security of the well-knownSchnorr identification and signature schemes and thesecurity of intractable discrete logarithm problem.

  18. 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

  19. The labor supply effect of in-kind transfers

    OpenAIRE

    Paul Bingley; Ian Walker

    2008-01-01

    We estimate a model of labor supply and participation in multiple programs for UK lone mothers which exploits a reform of in-work transfers. Cash entitlements increased but eligibility to in-kind child nutrition programs was lost. We find that in-work cash and inwork in-kind transfers both have large positive labor supply effects. There is, however, a utility loss from program participation which is estimated to be larger for cash than for child nutrition. This implies that the partial cash o...

  20. Determinants of technology usage in outsourced cash flow forecasting service

    OpenAIRE

    Kangas, Antti-Jussi

    2011-01-01

    Cash flow forecasting is an emerging cash management function and business tool that hasn’t received much scientific attention outside the finance and accounting field. Recent technological development of business process automation and networked services has enabled accounting companies to better service their clientele, focusing more towards value-added services. The purpose of this study is to examine the cash flow forecasting services offered by the accounting companies in the SME sect...

  1. Corporate governance and cash policies of multinational corporations

    OpenAIRE

    Beuselinck, C.; DELOOF, M; Vanstraelen, A.

    2012-01-01

    This study investigates cash policies of multinational corporations (MNCs) for a large sample of European MNCs and their subsidiaries in the period 1998-2004. The results are consistent with the hypothesis that cash holdings depend on a trade-off between the superior knowledge of the subsidiary over headquarters and the agency costs of discretionary behavior by the subsidiary’s management. We find that foreign subsidiaries hold more cash than domestic subsidiaries, although geographical dista...

  2. COMPARATIVE STUDY ON ACCOUNTING MODELS "CASH" AND "ACCRUAL"

    OpenAIRE

    Tatiana Danescu; Luminita Rus

    2013-01-01

    Accounting, as a source of information, can recognize the economic transactionstaking into account the time of payment or receipt thereof, as soon as they occur. There are twobasic models of accounting: accrual basis and cash basis. In the cash accounting method thetransactions are recorded only when cash is received or paid, shall not make the difference betweenthe purchase of an asset and the payment of expenditure - both of which are considered"payments". Accrual accounting achieves this d...

  3. Aplikace Business Intelligence pro vyhodnocení cash flow organizace

    OpenAIRE

    Ekart, Radim

    2015-01-01

    The thesis deals with the design and implementation of Business Intelligence solution for evaluation of cash flow in organization. In the theoretical part, author introduces the reader with theoretical knowledge of Business Intelligence, cash flow and analysis of enterprise information system Helios Green. In the practical part is description of the design and implementation of data warehouse and ana-lytic database. In the part of implementation is explained strategic planning of cash flow, e...

  4. 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...

  5. Ranking of States and Commodities by Cash Receipts, 1991

    OpenAIRE

    Strickland, Roger P., Jr.; Johnson, Cheryl; Williams, Robert P.

    1992-01-01

    This publication identifies the 25 leading agricultural commodities produced in each State and the United States, ranked by the value of cash receipts. The major producing States, ranked by cash receipts, for each of the 25 leading commodities in the United States and for several major commodity groups are also identified. The information is derived from U.S. Department of Agriculture's cash receipts statistics for the marketing of agricultural commodities within States. The ranking of commod...

  6. Less cash on the counter: Forecasting Finnish payment preferences

    OpenAIRE

    Jyrkönen, Hanna

    2004-01-01

    Finnish payment methods have changed rapidly as payment cards have gained increasing popularity and have, to an extent, replaced cash. This article examines this phenomenon and the trends in cash and electronic payment methods in Finland. It starts with an introduction to the statistical data on different payment methods used at points of sale and their electronification, after which learning curve and dynamic regression models are employed to analyse changes in the share of cash payments. Fi...

  7. CASH FLOW PLANNING AND OPTIMIZATION THROUGH GENETIC ALGRORITMS

    OpenAIRE

    Marco Aurelio Pacheco; Mara Noronha; Marley Vellasco; Carlos Lopes

    2000-01-01

    This article describes an intelligent system for financial planning and cashflow optimization named ICF: Intelligent Cash Flow. ICF is a computational tool for decision support which provides short-term and long-term financial managing strategies, considering financial products of the market. The ICF system makes use of Genetic Algorithms to elaborate cash flow projections which improve the company's profit for a specific period. ICF helps to deal with the complex aspects of cash flow plannin...

  8. Cash Holdings, Corporate Governance Structure and Firm Valuation

    OpenAIRE

    Kin-Wai Lee; Cheng-Few Lee

    2009-01-01

    Firms with higher board independence, smaller boards, and lower expected managerial entrenchment, have lower cash holdings. We find that the positive association between cash holdings and managerial entrenchment is mitigated by stronger board structures. Specifically, in firms with higher expected managerial entrenchment, those with higher proportion of outside director on the board and smaller board size have lower cash holdings. We also find that firm value is negatively associated with cas...

  9. AN ANALYSIS OF CASH WAQF PARTICIPATION AMONG YOUNG INTELLECTUALS

    OpenAIRE

    AMIRUL FAIZ OSMAN

    2014-01-01

    Considering the importance of cash waqf in developing waqf institutions and enhances the social economic of ummah. Yet, the literature that contributes to a social psychological understanding of the factors that underlie an individual's decision to donate to cash waqf has been extremely inadequate. This study therefore is aimed at examining the determinants of donor (waqif) intention to participate in giving cash waqf in the context of muslim in Malaysia particularly amongst young intellectua...

  10. 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 of the pr......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...

  11. Transfers

    OpenAIRE

    Xavier Sala-i-Martin

    1992-01-01

    In this paper I develop a positive theory of intergenerational transfers. I argue that transfers are a means to induce retirement. that is, to buy the elderly out of the labor force. The reason why societies choose to do such a thing is that aggregate output is higher if the elderly do not work. I model this idea through positive externalities in the average stock of human capital: because skills depreciate with age. one implication of these externalities is that the elderly have a negative e...

  12. 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…

  13. Does the benefits schedule of cash assistance programs affect the purchase of temptation goods? Evidence from Peru.

    Science.gov (United States)

    White, Justin S; Basu, Sanjay

    2016-03-01

    A critique of cash assistance programs is that beneficiaries may spend the money on "temptation goods" such as alcohol and tobacco. We exploit a change in the payment schedule of Peru's conditional cash transfer program to identify the impact of benefit receipt frequency on the purchase of temptation goods. We use annual household data among cross-sectional and panel samples to analyze the effect of the policy change on the share of the household budget devoted to four categories of temptation goods. Using a difference-in-differences estimation approach, we find that larger, less frequent payments increased the expenditure share of alcohol by 55-80% and sweets by 10-40%, although the absolute magnitudes of these effects are small. Our study suggests that less frequent benefits scheduling may lead cash recipients to make certain types of temptation purchases. PMID:26874596

  14. 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...

  15. Methods and Models for the Analysis of Cash Flows

    OpenAIRE

    Constantin ANGHELACHE; Radu Titus MARINESCU; Alexandru MANOLE; Mitrut, Constantin

    2012-01-01

    This paper analyzes the cash flow, as integrated into the manufacturing process of an enterprise. Incomes and expenses are recorded based on the principles of engagement accounting, the actual cash flow in the company treasury is different from the result from the profit and loss account.

  16. 7 CFR 273.20 - SSI cash-out.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 4 2010-01-01 2010-01-01 false SSI cash-out. 273.20 Section 273.20 Agriculture... FOOD STAMP AND FOOD DISTRIBUTION PROGRAM CERTIFICATION OF ELIGIBLE HOUSEHOLDS § 273.20 SSI cash-out. (a) Ineligibility. No individual who receives supplemental security income (SSI) benefits and/or State...

  17. 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'…

  18. 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. 232.072-3 Section 232.072-3 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM... liquidation of loans; and (8) Estimated amount and timing of cash receipt from other sources. (f)...

  19. Discounted cash flow valuation methods: Examples of perpetuities, constant growth and general case

    OpenAIRE

    Fernandez, Pablo

    2005-01-01

    This paper explores the discounted cash flow valuation methods. We start the paper with the simplest case: no-growth, perpetual-life companies. Then we will study the continuous growth case and, finally, the general case. The different concepts of cash flow used in company valuation are defined: equity cash flow (ECF), free cash flow (FCF), and capital cash flow (CCF). Then the appropriate discount rate is determined for each cash flow, depending on the valuation method used. Our starting poi...

  20. 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...

  1. 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.

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

    OpenAIRE

    Hesham Elnagar; Lane Graves Perry; Billy O'Steen

    2011-01-01

    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 parti...

  3. 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

  4. 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)

    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

  5. Piping cash out of provincial pockets

    International Nuclear Information System (INIS)

    The Vancouver Island Gas Pipeline Project (VIGAS) received funding in 1988, but the project ran into political delays, environmental impact studies and design changes. By the time it was finished in 1991 VIGAS was $110 million over its capital budget of $250 million. Furthermore, it was facing losses of as much as $449 million, a risk that the Province was unwilling to take on. Under a new agreement with Westcoast Energy Inc., the province will pay $120 million cash to Pacific Coast Energy Co., and cede future gas royalties to Centra Gas Inc. It will also defer repayment of $75 million in interest-free loans. The province will then phase out its subsidy for VIGAS customers over the next six years, at which point the pipeline will become an entirely commercial venture with prices based on the market rate

  6. 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)

    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

  7. Cash flow forecasting model for nuclear power projects

    International Nuclear Information System (INIS)

    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

  8. Money and Crime in a Cash-In- Advance Model

    OpenAIRE

    Hyung Sun Choi

    2011-01-01

    A cash-in-advance model, in which holding money is risky, is constructed to study the coexistence of multiple means of payment and monetary policy implications. In steady-state equilibrium, the marginal rate of substitution of cash goods for credit goods depends on the crime rate as well as the nominal interest rate. Credit may be in use, although the return on money is not positive. With theft, a money injection reduces the crime rate and makes cash more preferable for a greater variety of g...

  9. Analysis of non-cash Transactions in the Czech Republic

    OpenAIRE

    Boučková, Petra

    2010-01-01

    The thesis is focused on non-cash payments. It is divided into theoretical and practical part. The theoretical part describes the historical development of payment cards and forms that are accessible to the citizens. There are described current news and trends in non-cash payments. The practical part is focused on the development of non-cash transaction in the Czech Republic and comparison of the Member States of the European Union with Czech Republic. Attention is also given access to banks ...

  10. Atomic and efficient e-cash transaction protocol

    Institute of Scientific and Technical Information of China (English)

    王茜; 杨德礼

    2004-01-01

    Atomicity is necessary for reliable and secure electronic commerce transaction and to guarantee the participants'interests. An atomic and efficient e-cash (electronic cash) transaction protocol based on the classical e-cash scheme is presented. The delivery of digital goods is incorporated into the process of payment in the protocol. Apart from ensuring all three levels of atomicity, the novel protocol features high efficiency and practicability with unfavorable strong assumption removed. Furthermore, the proposed protocol provides non-repudiation proofs for any future disputes. At last, analysis of the atomicity and efficiency is illustrated.

  11. Transfers to Households with Children and Child Development

    OpenAIRE

    Del Boca, Daniela; Flinn, Christopher; Wiswall, Matthew

    2013-01-01

    In this paper we utilize a model of household investments in the cognitive development of children to explore the impact of various transfer policies on the distribution of child cognitive outcomes in target populations. We develop a cost criterion that can be used to compare the cost effectiveness of unrestricted, restricted, and conditional cash transfer systems, and ï¬nd that conditional cash transfers are the most cost efficient way to attain any given gain in average child quality in a t...

  12. 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…

  13. Cryptanalysis of One Fair E-cash System

    Institute of Scientific and Technical Information of China (English)

    LIU Li-hua; SHEN Hao

    2006-01-01

    The security of Canard-Traore fair e-cash system scheme was believed to depend on the strong-RSA as sumption and the Decision Diffie-Hellman assumption in groups of unknown order. But it is not the case. The ryptanalysis on Canard-Traore fair e-cash system was presented. An algorithm was designed to show that Canard Traore fair e-cash system is insecure: It is forgeability. Further, two drawbacks on Canard-Traore fair e-cash system scheme were pointed out. One is that those integer intervals for si(i= 1,…, 9) are unappropriate. The other is that the datum s3 in signature data is redundant. Moreover, a minute description of the technique to shun the challenge in the scheme was presented. The technique is helpful for designing new group signature schemes in the future.

  14. 42 CFR 436.110 - Individuals receiving cash assistance.

    Science.gov (United States)

    2010-10-01

    ... Medicaid agency must provide Medicaid to individuals receiving cash assistance under OAA, AFDC, AB, APTD... the home is considered essential to the well-being of a recipient under the State's plan for OAA,...

  15. A study on management of corporate cash in consumer durable sector

    Directory of Open Access Journals (Sweden)

    Somnath Das

    2015-02-01

    Full Text Available Cash plays essential role in modern business and economy and it is the life blood of all businesses. Therefore, cash management is the art of managing a company’s short-term resources for its ongoing activities, mobilizing funds and optimizing liquidity. Inefficient cash management may lead the company to bankruptcy. In this paper, we highlight different perspectives in which we can control the corporate cash including Cash Conversion Cycle, Cash Holding and Creditworthiness. The term Cash Conversion Cycle can be considered as a length of time between purchase of raw-materials and collection of cash from debtors. Cash holding is one of the most important financial decisions that the manager of the concerned organization has to make for the organizations. In this paper, we try to interlink among different items to control cash so that bankruptcy could be prevented and profitability would be improved by investigating on five companies from Consumer Durable sector.

  16. Cash Flow Prediction Using a Grey-Box Model

    OpenAIRE

    Pang, Yang; Opong, Kwaku; Moutinho, Luia; Li, Yun

    2015-01-01

    This paper tackles the problem of financial forecasting by extending methods developed in automation, engineering and computing science. Current methods existing in the literature for firm-level cash flows are first analysed. Then a grey-box modelling method is developed to elevate the performance of cash-flow prediction. Linear panel data modelling is used as a benchmark model. Experiments with out-of-sample tests are used to validate the grey-box approach. Encouragingly, nonlinear grey-box ...

  17. Debit card and cash usage: a cross-country analysis

    OpenAIRE

    Eugene Amromin; Sujit Chakravorti

    2007-01-01

    During the last decade, debit card transactions grew rapidly in most advanced countries. While check usage declined and has almost disappeared in some countries, the stock of currency in circulation has not declined as fast. We use panel estimation techniques to analyze the change in transactional demand for cash resulting from greater usage of debit cards in 13 countries from 1988 to 2003. We are able to disentangle cash’s store of value function from its payment function by separating cash ...

  18. The Validity of Company Valuation Using Discounted Cash Flow Methods

    OpenAIRE

    Florian Steiger

    2010-01-01

    This paper closely examines theoretical and practical aspects of the widely used discounted cash flows (DCF) valuation method. It assesses its potentials as well as several weaknesses. A special emphasize is being put on the valuation of companies using the DCF method. The paper finds that the discounted cash flow method is a powerful tool to analyze even complex situations. However, the DCF method is subject to massive assumption bias and even slight changes in the underlying assumptions of ...

  19. Anticipated Monetary Policy in a Cash-in-Advance Economy.

    OpenAIRE

    Benoit Carmichael

    1989-01-01

    This paper analyzes the effects of perfectly foreseen monetary policy within the framework of a standard cash-in-advance economy. Anticipated monetary policy is shown to have real effects by influencing inflationary expectations. In a cash-in-advance economy, an increase in the anticipated rate of inflation reduces the return to labor supply and induces a substitution away from time spent in the labor market. The paper analyzes the implication of this substitution for the time paths of output...

  20. Human Capital Investment, Cash Flow Risk and Capital Structure Dynamics

    OpenAIRE

    Zhang, Xiaolan

    2014-01-01

    My dissertation explores the financial effects of firms' growing reliance on intangible capital in their production technology. I examine the fundamental link between the cash flow risk, financial decision-making and the accumulation of firm-level intangible capital both in theory and in empirics. In Chapter one, I document that public firms in the United States that provide better insurance against productivity shocks to their workers experience higher cash flow volatility. Difference in i...

  1. Changing from subsistence to cash cropping. Sakaramma's story.

    Science.gov (United States)

    Rajamma, G

    1993-10-01

    In India, conversion of land to cash-crop rather than subsistence production has effected the standard of living of rural women. Food security, which used to be attained by supplementing home-grown produce with income from agricultural labor, is now achieved with funds raised by selling cash crops. The quality of food purchased is often inferior to that formerly raised on homesteads. Greater quantities of a wider variety of food were consumed under the old system, and the quality of the food was assured. Cash is now a daily necessity, yet the supply of cash depends upon fluctuating markets beyond local control. Cash income can increase without any increase in real income, and purchases of necessary fertilizers are financed by loans with high rates of interest. Women have no control over how the increased income from cash is spent, and it is often dedicated to debt clearance, alcohol, and household items rather than food. In the past, women agricultural workers were paid in kind and received the same compensation that men received. When payments were converted to cash, women received less. Women's work has increased because they must gather fuel and fodder for the cattle after working in their own and others' fields. Formerly these raw materials were readily available from the residue of traditional crops. It is clear that traditional farming is more advantageous for small farmers than cash-cropping, but more and more small farmers are yielding to government propaganda and adopting the new system. Women are never consulted about such a switch, yet they suffer most from the loss of the flow of their nonmonetary resources into their households. PMID:12320725

  2. Looking forward : the role for government in regulating electronic cash

    OpenAIRE

    Stacey L. Schreft

    1997-01-01

    With the year 2000 rapidly approaching, stored-value cards are already popular in some countries and are being introduced into the United States by private companies. Stored-value cards are one form of electronic cash—electronic substitutes for paper currency. Digital cash (also known as cybercash or ecash) is the other form of electronic cash coming into use today. It consists of bits and bytes in cyberspace and substitutes for paper currency in transactions made over the Internet.> Someday ...

  3. ARE BRAZILIAN FIRMS SAVINGS SENSITIVE TO CASH WINDFALLS?

    OpenAIRE

    Cristiano Machado Costa; Lourenço Senne Paz

    2004-01-01

    One of the most studied topics in the corporate finance literature is the effect of financial constraints on firms' investments decisions. Trying to explain this issue, Almeida, Campello andWeisbach (2003) modeled the relationship between the financial constraints faced by firms and their demand for liquidity. They show that if one firm is financial constrained we must expect positive cash _ow sensitivity from cash windfalls, while for unconstrained firms this relation does not hold. The aim ...

  4. De determinanten van cash holdings bij Belgische KMO's

    OpenAIRE

    Vanbaelen, Niels

    2011-01-01

    Deze eindverhandeling handelt over de determinanten die een invloed kunnen hebben op het niveau van cash holdings van Belgische KMO's. Dit werkstuk beslaat zeven hoofdstukken. Eerst en vooral wordt de probleemstelling uitgewerkt in hoofdstuk één gevolgd door een definiëring van het begrip KMO in hoofdstuk twee. Vervolgens komt in hoofdstuk drie een uitgebreide literatuurstudie aan bod. In hoofdstuk vier worden de determinanten van de cash holdings besproken, welke uit de literatuurstudie voor...

  5. Managerial discretion and optimal financing policies with cash flow uncertainty

    OpenAIRE

    Alessandro Fiaschi

    2009-01-01

    Building on the work of Stulz (1990), this paper analyzes the impact of managerial discretion on optimal leverage within an agency cost model of corporate financing. Under the assumption that stockholders do not know with certainty the mean of the cash flow distribution, we argue that leverage fails to control for the amount of cash the manager can misappropriate in personal projects. We develop a model of a firm’s value maximization problem that predicts that as expected earnings uncertainty...

  6. Numerical Solutions of Heat and Mass Transfer with the First Kind Boundary and Initial Conditions in Capillary Porous Cylinder Using Programmable Graphics Hardware

    Directory of Open Access Journals (Sweden)

    Hira Narang

    2016-06-01

    Full Text Available Recently, heat and mass transfer simulation is more and more important in various engineering fields. In order to analyze how heat and mass transfer in a thermal environment, heat and mass transfer simulation is needed. However, it is too much time-consuming to obtain numerical solutions to heat and mass transfer equations. Therefore, in this paper, one of acceleration techniques developed in the graphics community that exploits a graphics processing unit (GPU is applied to the numerical solutions of heat and mass transfer equations. The nVidia Compute Unified Device Architecture (CUDA programming model provides a straightforward means of describing inherently parallel computations. This paper improves the performance of solving heat and mass transfer equations over capillary porous cylinder with the first boundary and initial conditions numerically running on GPU. Heat and mass transfer simulation using the novel CUDA platform on nVidia Quadro FX 4800 is implemented. Our experimental results clearly show that GPU can accurately perform heat and mass transfer simulation. GPU can significantly accelerate the performance with the maximum observed speedups 10 times. Therefore, the GPU is a good approach to accelerate the heat and mass transfer simulation.

  7. 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.

  8. STRATEGIC DECISIONS OF FAMILY FIRMS ON CASH ACCUMULATION

    Directory of Open Access Journals (Sweden)

    Maria Belen Lozano

    2015-06-01

    Full Text Available Given the particular strengths, weaknesses, and peculiarities of family firms as well as the importance of liquidity in today’s marketplace, we analyze the distinct characteristics and strategies of family businesses related to the amount of cash a firm holds. We look beyond the traditional factors that influence decisions related to cash management to examine factors that are particularly important for family firms. Specifically, we outline the relevance of strategic decisions guided by family firms’ conservatism, flexibility, long-term view, and the active control that they have over family members. To our knowledge, no prior studies exist regarding family firms and their strategic adjustment of cash holding. Therefore, we investigate whether the ownership structure of the firm (through the presence of a controlling family moderates decisions on cash holding. We found that family firms tend to accumulate cash for strategic reasons and as a result of their own idiosyncrasies. Thus, family firms can achieve optimal cash accumulation more efficiently than non-family firms.

  9. Cash Flow Analysis Using Methods of Measuring Financial Flows by Type of Activity

    OpenAIRE

    Spineanu-Georgescu Luciana

    2011-01-01

    Analysis of financial balance through cash flows used to estimate future cash needs based on past situation, their knowledge would be useful to both shareholders interested in the existence of sufficient cash to pay dividends and creditors who are interested in recovering loans. Equally, knowledge of future cash flows of interest to potential investors updated cash flow method is a method of evaluation of the company.

  10. Dynamic efficiency and price leadership in the DAX-future and the DAX cash market: An empirical investigation

    OpenAIRE

    Merz, Frederic

    1994-01-01

    This paper provides results of an empirical study, adressing both the question of the efficiency of the DAX-fFuture market concerning its risk transfer function and the question of price leadership. For determining the pricing relationship between the futures and the cash market, co-integration analysis and nonlinear least squares estimation methods are applied. Results indicate that the pricing relationship is closely related to the cost-of-carry model and co-integrated. It will be shown tha...

  11. 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)

    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

  12. Hat das Internet ein Programm?

    OpenAIRE

    Coy, Wolfgang

    1998-01-01

    Hat das Internet ein Programm? Ist der Papst katholisch? Natürlich hat das Internet Millionen Programme - solche, die es nutzt und solche die man per FTP - File Transfer Protocol auf die eigene Maschine herunter laden kann und solche, die sich unbemerkt auf der Festplatte festsetzen. Letztere heißen Viren, Würmer oder trojanische Pferde. Aber das sind natürlich Programme im Sinne der Informatik, nicht im Sinne der broadcast media. Im amerikanisch-englischen Sprachraum, dem die...

  13. Monitoring programme

    International Nuclear Information System (INIS)

    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)

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

    International Nuclear Information System (INIS)

    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)

  15. Technology Programme

    International Nuclear Information System (INIS)

    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

  16. 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

  17. 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.

  18. 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.

  19. Do Firms Announcing Cash Refund Capital Reductions have Investment Value?

    Directory of Open Access Journals (Sweden)

    Su-Yin Cheng

    2016-05-01

    Full Text Available Cash refund capital reduction is a unique financial tool used by listed firms in Taiwan. This study investigates announcements of cash refund capital reductions to explore two topics. First, we examine the short-term, mid-term, and long-term buy-and-hold excess returns after the announcement. The results indicate that no excess returns are seen in the short and midterm,whereas long-term excess returns are positive and statistically significant. Second, we investigate the critical determinants of long-term excess return. The findings suggest that if a firm announces a cash refund capital reduction becomes more attractive to investors, the firm shall accompany with reduced firm size, reduced capital expenditure ratio, and improved return on equity (ROE and an increased debt ratio.

  20. Loyalty programmes as a direct sales platform: a cardholder segmentation based on air flight redemptions

    Directory of Open Access Journals (Sweden)

    José Manuel Ponzoa Casado

    2010-12-01

    Full Text Available There are increasingly more loyalty programmes that offer cardholders the opportunity of buying additional programme points or obtaining rewards, such as package holidays or air flights, by paying some of the cost in cash. This feature of the programmes, together with their very nature and structure and the current situation in which the tourism sector finds itself, has allowed for their development as sales platforms offering services directly to their members.This work discusses the potential of such programmes as a tool for a better knowledge and segmentation of customers by differentiating between them on the basis of those who redeem their rewards on a points-only basis and those that do so using points-plus-cash.Using information from a leading, Spanish, multi-sponsor, loyalty programme, this article analyses the importance of redeeming air tickets only, as against other rewards, and cash contributions as a means of completing the redemption transaction. By means of decision trees, as a segmentation method, it can be seen how variables related with buying behaviour, within the programme member companies, have an influence on the redemption of air tickets by the programme’s cardholders.

  1. Programme Biology - Health protection

    International Nuclear Information System (INIS)

    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. Cash flow accounting and the cost of debt

    OpenAIRE

    Lari Dashtbayaz, Mahmoud

    2011-01-01

    The aim of this study is to examine why firms may manipulate not just their earnings but also their cash flows, and to investigate the effects of this behaviour in debt markets with respect to the cost of debt. This research addresses current concerns about accounting rules (both GAAP and IFRS) which allow companies discretion in the presentation of their operating cash flow in financial statements. Using a sample of 8,684 UK and 23,935 USA firm-years from 1998 to 2010, the reported operating...

  3. Preparing Statement of Cash Flows from Taoist Perspectives

    OpenAIRE

    Yu-Je Lee; Jie He; Mei-Fen Wu; Ying-Qing Li; Ching-Ho Chen

    2013-01-01

    The preparation of cash-flow statement under the indirect method involves adjustments of many items. This is a highly complex process prone to errors, due to a lack of philosophical guidance. This paper finds that the concept of natural equilibrium of Chinese Taoism “… is the way of heaven to take from what has in excess in order to make good what is deficient...” can lend intellectual support to the preparation of cash flows statement under the indirect method. This approach will greatly enh...

  4. 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...

  5. IFCN Cash Crop: Benchmarking Farms Globally Oilseed Production Costs

    OpenAIRE

    Plessmann, Frank; Ebmeyer, Christian; Goerg, Konrad

    2005-01-01

    Vegetable oil production has become one of the fastest expanding cash crop sectors in the last 50 years and it is still increasing rapidly. However the regions of expansion, the sources of plant oil and their importance vary over time. To shed light on this development it is necessary to look at the farm level production systems and their production costs for a variety of countries and oilseeds. In this paper we present the first results of the IFCN Cash Crop Network covering the internationa...

  6. Cash-Flow-at-Risk and Debt Capacity

    OpenAIRE

    Jankensgård, Håkan

    2008-01-01

    Cash Flow-at-Risk (CFaR) is a risk measure that conveys information on the shortfall in cash flow, associated with a certain probability, a firm could experience over a certain time period. However, to provide information on outcomes that are identified as costly by the risk management literature, in particular underinvestment due to financing constraints, a risk measure needs to make explicit reference to the firm’s presumed access to external sources of funding. What is called for is thus a...

  7. Do Consumers Pay More Using Debit Cards than Cash

    DEFF Research Database (Denmark)

    Runnemark, Emma; Hedman, Jonas; Xiao, Xiao

    2015-01-01

    consumption habits of the products. The evidence thus suggests that different representations of money matters for consumer behavior. Such results further tease out the underlying mechanism of how payment methods influence spending behavior, which poses important implications for both consumers and merchants......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 and...

  8. Thailand's cash crisis hits Asian hydro plans

    International Nuclear Information System (INIS)

    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)

  9. 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

  10. Electronic access to food and cash benefits.

    Science.gov (United States)

    MaloneBeach, Eileen E; Frank, Cindy S; Heuberger, Roschelle A

    2012-01-01

    The authors' purpose was to examine access to Family Independence Program and Food benefits in relation to customer service and an automated helpline. In addition, participants identified impediments and limitations to the receipt of services. Two hundred forty-four surveys were mailed to recipients of over-the-counter electronic benefit transfer cards; 58 were returned. The findings indicate that when customers (age 21-92) received assistance navigating the electronic benefits transfer system from local office staff, they were able to obtain benefits successfully. Negative credit/debit card history and touchtone phones were related to difficulty using the system. The results suggest that the local office and the contracted service provider (automatic helpline) need to provide assistance that promotes greater autonomy for the customer to make successful transitions to benefits that are delivered electronically. PMID:22873934

  11. Evaluation of the Advanced Manufacturing Technology Programme

    OpenAIRE

    1995-01-01

    This report provides an evaluation of AMT Ireland - one of the oldest of the Programmes in Advanced Technology. AMT Ireland was established in 1988 as a programme intended to promote industrial development by transferring Advanced Manufacturing Technology (AMT) capabilities from university-based centres into Irish-based industry. The evaluation concludes that AMT Ireland performs an important role in national industrial development by providing technology transfer and consultancy services in ...

  12. Time Series Prediction Method of Bank Cash Flow and Simulation Comparison

    OpenAIRE

    Wen-Hua Cui; Jie-Sheng Wang; Chen-Xu Ning

    2014-01-01

    In order to improve the accuracy of all kinds of information in the cash business and enhance the linkage between cash inventory forecasting and cash management information in the commercial bank, the first moving average prediction method, the second moving average prediction method, the first exponential smoothing prediction and the second exponential smoothing prediction methods are adopted to realize the time series prediction of bank cash flow, respectively. The prediction accuracy of th...

  13. Shareholder Rights and the Effects of Acquirer Cash Holdings on Merger Performance

    OpenAIRE

    Ning Gao and Abdulkadir Mohamed

    2015-01-01

    In the U.S., cash-rich acquirers perform better in the presence of strong shareholder rights both at deal announcement and in the long run after mergers. Cash-rich acquirers underperform only when they are less financially constrained and when their shareholders possess weak rights. In the U.K., this positive cash effect on acquirer performance persists on average. In both countries, positive cash holdings effects are stronger when an acquirer is more financially constrained and can be explai...

  14. Cash Management and Corporate Profitability: A Study of Selected Listed Manufacturing Firms in Nigeria

    OpenAIRE

    Olubukunola Uwuigbe; Uwuigbe Uwalomwa; Ben-Caleb Egbide

    2012-01-01

    Cash has always being disregarded in financial decision making since it involves investment and financing in short term period. However, it is an important component in firm financial management decision. This study therefore investigates empirically the relationship between cash management and profitability in listed manufacturing companies in Nigeria. Cash conversion cycle is used as the measure for cash management as used in Raheman and Nasr (2007). Current ratio, debt ratio and sales grow...

  15. 20 CFR 340.5 - Recovery by cash payment.

    Science.gov (United States)

    2010-04-01

    ... amounts recoverable be immediately and fully repaid in cash and any debtor shall have the absolute right to repay such amount recoverable in this manner. However if the debtor is financially unable to pay the indebtedness in a lump sum, payment may be accepted in regular installments. The amount...

  16. 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...

  17. 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...

  18. Minority Interest and Agency Costs: Implications for Free Cash Flow

    Directory of Open Access Journals (Sweden)

    Arthur E. Young

    2015-02-01

    Full Text Available There has been extensive research involving the utilization of free cash flow within an agency theory framework. This study investigates the relationship between minority interests and free cash flow on a sample of 37 firms using time-series analysis. In particular, we improve on previous studies by bringing in a time-series approach. Our data ranges from 1991 to 2008. We additionally study these relationships using the averages on both variables. Using a bivariate vector autoregressive (VAR model that captures dynamic relationships, we find that a minority interest positively affects free cash flow, whereas the opposite relationship is less evident. This is also backed by Granger causality tests. By means of impulse responses, we find that a once and for all standard deviation increase to a minority interest causes a statistically significant positive reaction on free cash flow, by the second year. Findings from the times-series analysis are consistent with previous literature stating that investors can benefit from the minority interests’ monitoring of the resources available for utilization at the managers’ discretion.

  19. 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…

  20. 24 CFR 572.230 - Cash and Management Information (C/MI) System.

    Science.gov (United States)

    2010-04-01

    ... 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... 24 Housing and Urban Development 3 2010-04-01 2010-04-01 false Cash and Management Information...

  1. 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...

  2. 20 CFR 416.261 - What are special SSI cash benefits and when are they payable.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false What are special SSI cash benefits and when... Work Despite A Disabling Impairment § 416.261 What are special SSI cash benefits and when are they payable. Special SSI cash benefits are benefits that we may pay you in lieu of regular SSI...

  3. 20 CFR 416.262 - Eligibility requirements for special SSI cash benefits.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Eligibility requirements for special SSI cash... Disabling Impairment § 416.262 Eligibility requirements for special SSI cash benefits. You are eligible for special SSI cash benefits if you meet the following requirements— (a) You were eligible to receive...

  4. 26 CFR 20.2031-5 - Valuation of cash on hand or on deposit.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of cash on hand or on deposit. 20.2031-5 Section 20.2031-5 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY... § 20.2031-5 Valuation of cash on hand or on deposit. The amount of cash belonging to the decedent...

  5. 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 Section 668.161 Education Regulations of the Offices of the Department of Education (Continued) OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION STUDENT ASSISTANCE GENERAL PROVISIONS Cash Management § 668.161 Scope and purpose (cash...

  6. ISOLDE PROGRAMME

    CERN Multimedia

    Fedosseev, V; Lynch, K M; Grob, L K; Herfurth, F; Scheidenberger, C; Geppert, C; Gorges, C; Ratajczyk, T; 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; 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; Delaure, B J P; Mayet, P; Ory, G T; Kesteloot, N J K; Papuga, J; Dehairs, M H R; Callens, M; Domnanich, K A; Richter, D; Lutter, R J; Wiehr, S; Tengblad, O; 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; Steer, A N; Fox, S P; Wadsworth, B A; Truesdale, V L; Al monthery, M; Hass, M; Guttormsen, M S; Badea, M N; Calinescu, S; Cederkall, J A; Zemlyanoy, S; Golovkov, M; Wu, C; Harrichunder, S; Ncube, M; Gerten, R F; Lehnert, J; Gladnishki, K A; Pospisil, S; Datta pramanik, U; Benzoni, G; Fedorov, D; Molkanov, P; Pfeiffer, B; Griesel, T; Wehner, L W; Mikkelsen, M; Recchia, F; Smith, J F; Kelly, C M; De melo bandeira tavares, P M; Vieira, J M; Martins da silva, M A; Lima lopes, A M; Mader, J; Kessler, P; 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; Coeck, S; Ryssens, W A M; Knoops, G; Vanbuel, J; 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; Vetter, U; Araujo mendes, C M; Valencia marin, E; Pantea, E; Hessberger, F P; Leduc, A J; Mitsuoka, S; Carbonari, A W; Buchegger, F J; Garzon camacho, A; Stachura, M K; Stora, T; Marsh, B A; Thiboud, J A; Antalic, S; Stahl, C; Bauer, C; Thurauf, M; Maass, B; Sturm, S; Boehm, C; Wolf, N R; Ways, M; 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; Ohtsubo, T; Zhukov, M V; Tengborn, E A; Dessagne, P; Juscamaita vivanco, Y; De rydt, M A E; Vermaelen, P; Monten, R; Yang, X; De coster, A; Kruecken, R; Muecher, D; Nowak, A K; Cano ott, D; Murphy, A S J; Shand, C M; Regan, P H; Jones, G D; Herzberg, R; Ikin, P; Davies, P J; 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; Sibanda, W N; Rocchini, M; Deicher, M; Wichert, T; Wolf, E; Kronenberg, J; Helmke, A; Meliani, Z; Ivanov, V S; Kuti, I; Halasz, Z; Henry, M O; Bras de sequeira amaral, V; Espirito santo, F; Carvalho teixeira, R C; Rosendahl, S; Speidel, K; Agarwal, I; Faul, T; Kownacki, J M; Martins correia, J G; Lorenz, K; Costa miranda, S M; Granadeiro costa, A R; Keupers, M; Stukken, R; Wursten, E J; Kotthaus, T; Pfeiffer, M; Stegemann, S T; Gironi, L; Cakirli, R B; Jensen, A; Romstedt, F; Constantino silva furtado, I; Heredia cardona, J A; Jordan martin, M D; Montaner piza, A; Plewinski, F; Mesli, A; Pichard, A; Fallis starhunter, J P; Voulot, D; Mrazek, J; Ugryumov, V; Savreux, R P; Kojouharov, I M; Stegmann, R; Fitting, J; Lauer, M; Kirsebom, O S; Jensen, K L; Jokinen, A; Rahkila, P J; Hager, U D K; 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; Mertzimekis, T; Gislason, H P; Shayestehaminzadeh, S; Qi, B; Mukai, M; Watanabe, Y; Willmann, L; Kurcewicz, W; Wimmer, K; Meisel, Z P; Lievens, P; Neyens, G; Darby, I G; Descamps, B O; Bunka, M; Vermeulen, C; Podadera aliseda, I; Alcorta moreno, M; Pesudo fortes, V; Algora, A; Zielinska, M; Korten, W; Wang, C H; Lotay, G J; Mason, P; Rice, S J; Willenegger, L M; Judson, D S; Revill, J P; Andreev, A; Yavuzkanat, N; Kumar, V; Zamfir, N - V; Deleanu, D; Golubev, P I; Jeppesen, H B; Pain, S D; Stracener, D W; Matousek, V; Venhart, M; Birova, M; Li, X; Stuchbery, A E; Lellep, G M; Poves paredes, A; Chakraborty, S; Leoni, S; Chupp, T; Yilmaz, C; Severin, G; Garcia ramos, J E; Hadinia, B; Mc glynn, E; Monteiro de sena silvares de carvalho, I; Friedag, P; Koos, V; Meot, V H; Pauwels, D B; Jancso, A; Srebrny, J; Alves, E J; David bosne, E; Dexters, W M M; Velten, P; Kalkuehler, M; Albers, M; Bharuth-ram, K; Akkus, B; Hemmingsen, L B S; Pedersen, J T; Dos santos redondo, L M; Rubio barroso, B; Kozlov, V; Mokhles gerami, A; Bernardo da silva, E; Unzueta solozabal, I; Schell, J; Szybowicz, M; Lassen, J; Johnston, K; Miyazaki, A; Macko, M; Coquard, L; Bloch, T P; Bonig, E S; Ignatov, A

    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

  7. Fast reactor programme

    International Nuclear Information System (INIS)

    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.)

  8. Genomic selection strategies in dairy cattle breeding programmes: Sexed semen cannot replace multiple ovulation and embryo transfer as superior reproductive technology

    DEFF Research Database (Denmark)

    Pedersen, Louise Dybdahl; Kargo, Morten; Berg, Peer;

    2012-01-01

    semen. However, when all young bull candidates were born following MOET, the results showed that the use of Y-semen in the breeding nucleus tended to decrease the rate of inbreeding as it enabled GS to increase within-family selection. This implies that the benefit from using sexed semen in a modern......The aim of this study was to test whether the use of X-semen in a dairy cattle population using genomic selection (GS) and multiple ovulation and embryo transfer (MOET) increases the selection intensity on cow dams and thereby the genetic gain in the entire population. Also, the dynamics of using...... different types of sexed semen (X, Y or conventional) in the nucleus were investigated. The stochastic simulation study partly supported the hypothesis as the genetic gain in the entire population was elevated when X-semen was used in the production population as GS exploited the higher selection intensity...

  9. Technology programme

    International Nuclear Information System (INIS)

    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

  10. IRR: Stata module to calculate the (periodic) internal rate of return for a series of periodic cash flows.

    OpenAIRE

    Maximo Sangiacomo

    2013-01-01

    irr calculates the (periodic) internal rate of return for a series of periodic cash flows. These cash flows do not have to be constant, however, the cash flows must occur at regular intervals, such as months or years (if the cash flow payments are monthly, then the resulting rate of return is multiplied by 12 for the annual rate of return).

  11. Mortality among adults transferred and lost to follow-up from antiretroviral therapy programmes in South Africa: a multicentre cohort study

    Science.gov (United States)

    CORNELL, Morna; LESSELLS, Richard; FOX, Matthew P.; GARONE, Daniela Belen; GIDDY, Janet; FENNER, Lukas; MYER, Landon; BOULLE, Andrew

    2014-01-01

    Background & objectives Little is known about outcomes after transfer out (TFO) and loss to follow-up (LTF) and how differential outcomes might bias mortality estimates, as analyses generally censor or exclude TFOs/LTF. Using data linked to the National Population Register (NPR), we explored mortality among patients TFO and LTF compared with patients retained and investigated how linkage impacted on mortality estimates. Methods A cohort analysis of routine data on adults with civil-identification numbers starting ART 2004–2009 in four large South African ART cohorts. The number, proportion, timing and mortality of TFOs and LTF were reported. Mortality was compared using Kaplan-Meier curves, Cox’s proportional hazards and competing risks regression. Results Before linkage, 1207 patients (6%) had died, 2624 (13%) were LTF, 1067 (5%) were TFO and 14583 (75%) were retained. Compared with retained, mortality risk was three times higher among TFOs (aHR 3.11, 95% CI 2.42–3.99) and 20 times higher among LTF patients (aHR 22.03, 95% CI 20.05–24.21). Excluding early deaths after TFO or LTF, the risk was comparable among TFOs and retained (aHR 0.75, 95% CI 0.54–1.03) and higher among LTF (aHR 2.85, 95% CI 2.43–3.33). After linkage, corrected mortality was higher than site-reported mortality. Censoring did not however lead to substantial underestimation of mortality among TFOs. Conclusions While TFO and LTF predicted mortality, the lower incidence of TFO and subsequent death compared with LTF meant that censoring TFOs did not bias mortality estimates. Future cohort analyses should explicitly consider proportions TFO/LTF and mortality event rates. PMID:24977471

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

    International Nuclear Information System (INIS)

    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

  13. CASH AND LIQUIDITY/LIQUIDITY AND LIQUIDITY RATIO

    OpenAIRE

    BEATRIX LIGHEZAN BREUER; MIHAELA LESCONI FRUMUŞANU; ADELA 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...

  14. Animal spirits in cash-in-advance economies

    OpenAIRE

    Stefano Bosi; Frédéric Dufourt; Francesco Magris

    2007-01-01

    The possibility of indeterminacy and sunspot fluctuations in dynamic rational expectations models has been often questioned on empirical grounds, for such models are widely believed to rely on implausibly high degrees of increasing returns to scale and/or other controversial calibrations of economic fundamentals. In this paper, we study the occurrence of such phenomena in a standard (one-sector) optimal growth model with endogenous labor supply and a partial cash-in-advance constraint on cons...

  15. Executive compensation, macroeconomic conditions, and cash flow cyclicality

    OpenAIRE

    Colonnello, Stefano

    2016-01-01

    I model the joint effects of debt, macroeconomic conditions, and cash flow cyclicality on risk-shifting behavior and managerial pay-for-performance sensitivity. I show that risk-shifting incentives rise during recessions and that the shareholders can eliminate such adverse incentives by reducing the equity-based compensation in managerial contracts. I also show that this reduction should be larger in highly procyclical firms. Using a sample of U.S. public firms, I provide evidence supportive ...

  16. The impact of retail payment innovations on cash usage

    OpenAIRE

    Ben S.C. Fung; Huynh, Kim P.; Sabetti, Leonard

    2012-01-01

    Many predict that innovations in retail payment may render cash obsolete. We investigate this possibility in the context of recent payment innovations such as contactless-credit and stored-value cards. We apply causal inference methods on the 2009 Bank of Canada Method of Payment survey, a representative sample of adult Canadians' shopping behaviour for retail consumption over a three-day period. We find that using contactless credit cards and stored-value cards lead to a reduction in average...

  17. The evolution of a global cash management system

    OpenAIRE

    Holland, CP; Lockett, G.; Richard, JM; Blackman, ID

    1994-01-01

    Some companies are implementing interorganizational information systems (IOSs) with trading partners that allow them to share data and software across organizational boundaries. The authors explore the effect of IOSs on cash management from a managerial perspective and present a case study of Motorola and Citibank. Motorola’s strategy has evolved from an internal cost saving initiative to a supply chain focus yielding significant strategic benefits. Cooperation between Motorola, its suppliers...

  18. Determinanten van de cash positie van Belgische KMO's

    OpenAIRE

    Bocken, Michaël

    2010-01-01

    KMO's hebben onder meer omwille van hun grootte minder mogelijkheden om beroep te doen op de financiële markt dan grotere ondernemingen. Er zijn dan ook verschillende theorieën rond de diverse motieven die KMO's hebben om cash bij te houden, zoals bijvoorbeeld het voorzorgsmotief. Het opzet van deze eindverhandeling was dan ook om deze verschillende motieven te vinden en te onderzoeken. Dit werd gedaan aan de hand van het bestuderen van literatuur, waarin dan uiteindelijk drie relevante t...

  19. Key input factors for discounted cash flow valuations

    OpenAIRE

    Kramná, Eva

    2014-01-01

    Business valuation becomes requisite not only because of the recent trend of mergers and acquisitions but of course regarding to identification of economic value creation sources. This paper examines weighted average cost of capital and terminal growth rate as the key input factors that is needed for discounted cash flow valuation and can alter the valuation results considerably. A practical example of this implication is given using sensitivity analysis. A special emphasize is being put on t...

  20. Free Cash Flow, Signaling and the Dividend Puzzle

    OpenAIRE

    Alan V. Douglas

    1990-01-01

    The work in this paper contributes to two of the most topical issues in the study of corporate financial policy: Free Cash Flow theory and the Dividend providing a new explanation for the dividend puzzle. It is argued that two types of asymmetric information problems are inherent in the relationship between shareholders (as principles) and managers (as the shareholders' agents), and therefore the payment scheme between them will be designed to mitigate these problems. The conflict of interest...

  1. Bytes of cash: Banking, computing and personal finance

    OpenAIRE

    Philips, Jim

    1996-01-01

    Notions of banking and finance have gradually changed over the past decade at the personal level, with the increasing spread of personal computers, personal finance software, and online services. Technological advances however have been hindered by administrative inertia in most traditional banks and the lack of accepted national and international policies for the management of digital cash. The radical efficiencies of virtual banking, in the absence of paper records, files, and documents, me...

  2. Country programme review Bangladesh

    International Nuclear Information System (INIS)

    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

  3. 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.

  4. Time Series Prediction Method of Bank Cash Flow and Simulation Comparison

    Directory of Open Access Journals (Sweden)

    Wen-Hua Cui

    2014-11-01

    Full Text Available In order to improve the accuracy of all kinds of information in the cash business and enhance the linkage between cash inventory forecasting and cash management information in the commercial bank, the first moving average prediction method, the second moving average prediction method, the first exponential smoothing prediction and the second exponential smoothing prediction methods are adopted to realize the time series prediction of bank cash flow, respectively. The prediction accuracy of the cash flow time series is improved by optimizing the algorithm parameters. The simulation experiments are carried out on the reality commercial bank’s cash flow data and the predictive performance comparison results show the effectiveness of the proposed methods.

  5. Education, Training and the Euratom Framework Programme

    International Nuclear Information System (INIS)

    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)

  6. A Tutorial on the Discounted Cash Flow Model for Valuation of Companies

    OpenAIRE

    Jennergren, L. Peter

    1998-01-01

    All steps of the discounted cash flow model are outlined. Essential steps are: calculation of free cash flow, forecasting of future accounting data (income statements and balance sheets), and discounting of free cash flow. There is particular emphasis on forecasting those balance sheet items which relate to Property, Plant, and Equipment. There is an exemplifying valuation included (of a company called McKay), as an illustration. A number of other valuation models (abnormal earnings, adjusted...

  7. Empowering cash managers to achieve cost savings by improving predictive accuracy

    OpenAIRE

    Salas-Molina, Francisco; Martin, Francisco J.; Rodríguez-Aguilar, Juan A.; Serrà, Joan; Arcos, Josep Ll.

    2016-01-01

    Cash management is concerned with optimizing the short-term funding requirements of a company. To this end, different optimization strategies have been proposed to minimize costs using daily cash flow forecasts as the main input to the models. However, the effect of the accuracy of such forecasts on cash management policies has not been studied. In this article, using two real data sets from the textile industry, we show that predictive accuracy is highly correlated with cost savings when usi...

  8. Debit card interchange fees generally lead to cash-promoting cross-subsidisation

    OpenAIRE

    Leinonen, Harry

    2011-01-01

    Cards and cash are competing payment instruments at point-of-sale. The twosided market platform theory, based on general benefit assumptions, supports the use of multilateral interchange fees for card payments as a means of promoting the use of cards. However, analysis of the issue from the concrete processing cost viewpoint leads to the opposite conclusion: collection of debit card interchange fees by issuers results in subsidisation of cash and so actually promotes the use of cash instead o...

  9. Do debit cards decrease cash demand? Evidence from a causal analysis using Principal Stratification

    OpenAIRE

    Mercatanti, Andrea; Li, Fan

    2015-01-01

    It has been argued that innovation in transaction technology may modify the cash holding behaviour of agents, as debit card holders may either withdraw cash from ATMs or purchase items using POS devices at retailers. In this paper, within the Rubin Causal Model, we investigate the causal effects of the use of debit cards on the cash inventories held by households using data from the Italy Survey of Household Income and Wealth (SHIW). We adopt the principal stratification approach to incorpora...

  10. Austria’s Experience with Euro Migration since the Cash Changeover

    OpenAIRE

    Doris Schneeberger; Gabriele Süß

    2007-01-01

    The introduction of the euro in 2002 offered a unique opportunity to learn more about the patterns and structures of cross-border cash movements. The Oesterreichische Nationalbank (OeNB) has carried out various surveys to analyze the migration of cash in greater depth. This article presents the results of two surveys, which demonstrate that cash is very mobile. An Austrian wallet will typically hold coins and banknotes from almost all euro area countries. Euro coins minted in countries other ...

  11. 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 .

  12. Cash limitations : Strategy and control on a functional level in the banking industry

    OpenAIRE

    Tingström, Lovisa; Kulesa, Linda

    2015-01-01

    In today’s ever-evolving society the use of cash is replaced by digital services in the banking sector. Some local banks restrict manual cash handling while others remove it completely. This essay examines how management accounting is affected by restricted cash handling. The theory clarifies that management accounting strategies create guidelines and provides specific framework for employees and managers in the organization. If the strategy is unclear employees may have difficulty knowing ho...

  13. An Extension of the Internal Rate of Return to Stochastic Cash Flows

    OpenAIRE

    Gordon Hazen

    2009-01-01

    The internal rate of return (IRR) is a venerable technique for evaluating deterministic cash flow streams. Part of the difficulty in extending this measure to stochastic cash flows is the lack of coherent methods for accounting for multiple or nonexistent internal rates of return in deterministic streams. Recently such a coherent theory has been developed, and we examine its implications for stochastic cash flows. We devise an extension of the deterministic IRR, which we call the stochastic r...

  14. Tax Aggressiveness and Firm’s Cash Holdings: The Role of Corporate Social Responsibility

    Directory of Open Access Journals (Sweden)

    Ming-Lei Chang

    2016-05-01

    Full Text Available This study examines how tax aggressiveness affects the propensity of U.S. companies to stockpile cash and how the above relations are affected by the degree of corporate social responsibility (CSR activities. The empirical results find that the tax aggressiveness is positively associated with firm’s cash holdings, and when firms undertake corporate social responsibility, it mitigate the positive relation between the level of tax aggressiveness and firm’s cash holdings.

  15. Cash management behavior of firms and its structural change in an emerging money market

    OpenAIRE

    Kytönen, E. (Erkki)

    2004-01-01

    Abstract Driven by fast evolution in the money market during the past two decades, financial and technological innovations, increasing competition, and internationalizing of businesses, cash and treasury management has become an increasingly important function in most firms. It is reasonable to expect that the role of financial transactions in the cash management process in adding to firm value has increased its importance and changed the cash management behavior of...

  16. STATEMENT OF CASH FLOWS - A MEASURE OF OPERATIONAL PERFORMANCE ON AN ACCRUAL BASIS

    OpenAIRE

    GHEORGHE LEPADATU

    2011-01-01

    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 ...

  17. PRE-HARVEST PRICING STRATEGIES IN OHIO CORN MARKETS: THEIR EFFECT ON RETURNS AND CASH FLOW

    OpenAIRE

    Zulauf, Carl R.; Larson, Donald W.; Alexander, Christopher K.; Irwin, Scott H.

    2001-01-01

    This paper contributes to the debate on whether pre-harvest pricing strategies can improve returns over cash sales at harvest. It also examines cash flow needs of such strategies. The analysis is conducted for Ohio corn produced from 1986 through 1999. The pre-harvest strategies evaluated (short futures, long put, synthetic long put, put-call fence) did not statistically improve returns over cash sales at harvest. However, if implemented during or before planting, these naïve strategies reduc...

  18. The Relationship Between Cash Flow And Capital Expenditure: Evidence From German Automobile Sector

    OpenAIRE

    Saffarizadeh, Navid

    2014-01-01

    ABSTRACT: The present study investigates the long run equilibrium relationship between cash flow and capital expenditure in German automobile sector as one of the leaders of the automobile industry in the world. Johansen co-integration test confirmed the relationship between cash flow and capital expenditure in the long run. Cash flow has significant and inelastic impact on capital expenditure (-0.963). Error correction model reveals that capital expenditure in German automobile sector conver...

  19. Real options valuation of fusion energy R and D programme

    International Nuclear Information System (INIS)

    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.

  20. 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.

  1. Purely Internal Rate of Return and Investment Decisions: A Cash-Flow Perspective

    OpenAIRE

    Carlo Alberto Magni

    2010-01-01

    The recent notion of Average Internal Rate of Return (AIRR) [Magni 2010, The Engineering Economist, 55(2), 150-180] completely solves the long-standing problem of the internal rate of return (IRR). While the AIRR is a return measure, this paper presents a cash-flow measure, namely the ratio of net cash flow (i.e., cash inflows minus cash outflows) to capital invested. It is a purely internal measure because, unlike the AIRR, it does not depend on the market rate, and is a return measure as we...

  2. Riadenie cash-flow v nadnárodnej korporácii

    OpenAIRE

    Oravčík, Vladimír

    2009-01-01

    Aim of this bachelor work is Management of cash-flow in multinational corporation. Goal of this work is measuring and analyzing management of liquidity and cash-flow in L'Oreal ČR. Paper is aimed on indicators of liquidity and report of cash-flow. From this indicators and report is made conclusion on a financial state of company. The end of paper is dealing with management of financial finds. It collates management of financial funds by theoretical model and by cash-pooling

  3. CASH-FLOW vs. MARKET-VALUE CDOs

    Directory of Open Access Journals (Sweden)

    SILVIU EDUARD DINCA

    2016-02-01

    Full Text Available During the past few years, in the recent post-crisis aftermath, global asset managers are constantly searching new ways to optimize their investment portfolios while financial and banking institutions around the world are exploring new alternatives to better secure their financing and refinancing demands altogether with the enhancement of their risk management capabilities. We will exhibit herewith a comparison between the cash-flow and market-value CDO securitizations as financial markets-based funding, investment and risks mitigation techniques, highlighting certain key structuring and implementation specifics on each of them.

  4. Order to Cash -prosessin kehittäminen

    OpenAIRE

    Koponen, Titta

    2016-01-01

    Opinnäytetyön tavoitteena oli tutkia, kuinka kohdeyrityksen Order to Cash -prosessia kehittämällä saadaan lyhennettyä prosessin läpimenoaikaa sekä parantamaan asiakaspalvelua tuottamalla asiakkaalle enemmän arvoa. Tavoitteena oli myös laatia yritykselle OTC -prosessikuvaus ja kehittää prosessia. OTC-prosessi käsittää yrityksen tilaus-toimitusprosessin, logistisen asiakaspalvelun sekä kassavirran ja luotonvalvonnan osalta maksuehdot ja perinnän. Viitekehyksenä tutkimukselle oli Lean-menete...

  5. 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.

  6. Cash Flow Analysis on the Example Cormans Ltd. Galati

    Directory of Open Access Journals (Sweden)

    Carmen SIRBU

    2010-08-01

    Full Text Available Finding appropriate ways to use cash flows to achieve financial diagnosis is one of the hardest tasks for financial analysts. Literature stressed the advantages for financial diagnosis users, when using flow information, without offering as many practical waysto achieve it. In a market economy, the enterprise should be regarded as a system that runs through its relations with third parties (investors, creditors, budgeting, suppliers,etc... relationships which materialize through estate flows. According as these flowstake liquidity shape are interested both third parties (for reclaiming of amounts invested and gaining benefits or claiming of some claims, as well as the management unit, for only thus can the system work.

  7. Unstash the Cash! Corporate Governance Reform in Japan

    OpenAIRE

    Chie Aoyagi; Giovanni Ganelli

    2014-01-01

    Japan’s high corporate savings might be holding back growth. We focus on the causes and consequences of the current corporate behavior and suggest options for reform. In particular, Japan’s weak corporate governance—as measured by available indexes—might be contributing to high cash holdings. Our empirical analysis on a panel of Japanese firms confirms that improving corporate governance would help unlock corporate savings. The main policy implication of our analysis is that comprehen...

  8. Ghana's nuclear programme

    International Nuclear Information System (INIS)

    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)

  9. Olympic Partner Programme

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    @@ The Olympic Partner Programme (TOP) is an international Olympic marketing programme created by the International Olympic Committee (IOC),which includes the Organising Committees of the Games,the National Olympic Committees and the TOP Partners.

  10. Decision models for cash-flow DSS (part 1

    Directory of Open Access Journals (Sweden)

    Razvan PETRUSEL

    2006-01-01

    Full Text Available The goal of this paper is to present some of the work conducted in order to create a cash-flow DSS that aims to improve the financial decisions of Romanian small and medium enterprise managers. In order to create the desired DSS two major stages were followed: the construction of models for various financial decisions and the implementation of those models within the knowledge base of the DSS. The present paper covers the first stage while the second stage will be presented in the next article. For a better understanding, the paper is divided into three parts: theoretical considerations, practical application of theory and conclusions. The theoretical part builds up on basic definitions and previous decision theory research, and, taking into consideration different modeling methodologies, establishes the necessary steps and tools that will be used in the second part. The second part establishes the decisional situations that will be modeled, briefly describes each of them and shows the models devised according to particularities of small and medium enterprises. The goal of this part is to create a model (variables, relations between them, etc that is suited for implementation in a cash-flow DSS. In the final part some conclusions are stated and the future research direction is established.

  11. 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. PMID:22308423

  12. The Winfrith DSN programme

    International Nuclear Information System (INIS)

    The programme, which is written in the Fortran language, solves the Carlson discrete Sn 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)

  13. 26 CFR 1.401(k)-1 - Certain cash or deferred arrangements.

    Science.gov (United States)

    2010-04-01

    ... rulings issued by the Department of Labor. See 29 CFR 2510.3-102. (3) Rules applicable to cash or deferred... 26 Internal Revenue 5 2010-04-01 2010-04-01 false Certain cash or deferred arrangements. 1.401(k)-1 Section 1.401(k)-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE...

  14. 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…

  15. Impact of Crop Insurance Indemnity Payments on Cash Rents and Land Values

    OpenAIRE

    Langemeier, Michael R.

    2013-01-01

    This paper examined the impact of a yield protection crop insurance product on cash rents and land values for a representative Indiana farm. The net return to land and management for scenarios that included and excluded crop insurance were very similar. Predicted cash rents and land values were not impacted by crop insurance indemnity payments.

  16. 29 CFR 531.27 - Payment in cash or its equivalent required.

    Science.gov (United States)

    2010-07-01

    ... require payments of the prescribed wages, including overtime compensation, in cash or negotiable... term “wage” does not appear in section 7, all overtime compensation must be paid in cash and may not be... its legislative history which demonstrates the intention to provide one rule for the payment of...

  17. 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... defined in § 511.2, and, therefore, are subject to deobligation to the extent authorized by 24 CFR...

  18. 20 CFR 404.1586 - Why and when we will stop your cash benefits.

    Science.gov (United States)

    2010-04-01

    ... entitled to disability cash benefits on the basis of your work activity but your visual impairment is..., SURVIVORS AND DISABILITY INSURANCE (1950- ) Determining Disability and Blindness Blindness § 404.1586 Why... entitled to disability cash benefits as a statutorily blind person, we will find that you are no...

  19. Do Consumers Pay More Using Debit Cards than Cash? An Experiment

    OpenAIRE

    Runnemark, Emma; Hedman, Jonas; Xiao, Xiao(Institute for Strings, Cosmology and Astroparticle Physics (ISCAP) and Physics Department, Columbia University, 538 West 120th Street, New York, NY, 10027 U.S.A.)

    2014-01-01

    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 of the products. The evidence thus suggests that different representations of money matters for consumer behavior.

  20. ORGANIZATION OF ACCOUNTING AND INTERNAL CHECK CASH FLOW AND PAYMENT ON BASE BUSINESS OF AUTOMOBILE MAINTENANCE SERVICING

    OpenAIRE

    Kashchenko, O.

    2010-01-01

    The article is devoted topical questions of organization of accounting and internal check cash flow and payment on base business of automobile maintenance servicing. Defined the problem of accounting and control cash flows are formulated proposals to address them.

  1. 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.

  2. ID-Based Fair Off-Line Electronic Cash System with Multiple Banks

    Institute of Scientific and Technical Information of China (English)

    Chang-Ji Wang; Yong Tang; Qing Li

    2007-01-01

    ID-based public key cryptography (ID-PKC) has many advantages over certificate-based public key cryptog-raphy (CA-PKC), and has drawn researchers’ extensive attention in recent years. However, the existing electronic cash schemes are constructed under CA-PKC, and there seems no electronic cash scheme under ID-PKC up to now to the best of our knowledge. It is important to study how to construct electronic cash schemes based on ID-PKC from views on both practical perspective and pure research issue. In this paper, we present a simpler and provably secure ID-based restrictive partially blind signature (RPBS), and then propose an ID-based fair off-line electronic cash (ID-FOLC) scheme with multiple banks based on the proposed ID-based RPBS. The proposed ID-FOLC scheme with multiple banks is more efficient than existing electronic cash schemes with multiple banks based on group blind signature.

  3. 20 CFR 670.620 - Are Job Corps students eligible to receive cash allowances and performance bonuses?

    Science.gov (United States)

    2010-04-01

    ... Student Support § 670.620 Are Job Corps students eligible to receive cash allowances and performance... cash allowances and performance bonuses? 670.620 Section 670.620 Employees' Benefits EMPLOYMENT AND... cash living allowances, performance bonuses, and allotments for care of dependents, and...

  4. THE ECONOMICS OF THERAPY - CLIENTS, COLLEAGUES, CASH AND COMPETITION

    DEFF Research Database (Denmark)

    Thomas, Daniel; Jacobsen, Stine Lindahl; Ledger, Alison;

    This roundtable features an international panel of music therapists exploring what happens when music therapy and business collide. Can 21st century music therapy care for clients, colleagues, cash and competitors? Thought-­‐provoking presentations will connect participants with approaches that...... in our profession alongside our culturally bio-­‐diverse practices and ecological approaches. Research (Ledger 2010) found that music therapists were uncertain about gaining support and securing funding. Our approach with commissioners may include consultative services, but what do managers and...... need help? Can we arket and advertise our services responsibly and reliably? Should music therapy students be taught basic strategies for business development and reflect on their own qualities as potential entrepreneurs? Working within a “for-­‐profit” business model makes some people uncomfortable...

  5. Information and Communication Technologies in cash management: explanatory model

    Directory of Open Access Journals (Sweden)

    AMAIA MASEDA GARCÍA

    2006-12-01

    Full Text Available In this research it has been analysed the use of ICT (Information and Communication Technologies in the responsibilities of cash management and the references of this survey are the corporations of Basque Country. The results indicate that the ICT more utilized by firms to financial practices are financial software, Internet and electronic banking. Furthermore, this results have permitted us to develop an explanatory model of the use of ICT for the treasurer’s functions; management of receivables and payments, liquidity monitoring, shortterm treasury forecasts, management of bank balances in value data, management of relations with financial institutions, management of short-term needs, management of treasury surpluses and management of interest and exchange rate risks.

  6. On-line Payment System Survey – eCash

    Directory of Open Access Journals (Sweden)

    Marius Popa

    2009-12-01

    Full Text Available The paper presents the main aspects regarding an on-line payment system. Some characteristics of such system are presented and an existing system is analyzed. On its fundamental sense, the electronic commerce is a concept that represents the purchase and sale process or exchange of products, services, information, using o computer network, inclusively the Internet. In the most part of the cases, the electronic commerce imply on-line payments that lead to creation of some kinds of electronic money and some specific payment systems. There are described the some electronic payment mechanisms and the architecture and the functions of the on-line payment system E-Cash are depicted.

  7. Effects of Excess Cash, Board Attributes and Insider Ownership on Firm Value: Evidence from Pakistan

    Directory of Open Access Journals (Sweden)

    Nadeem Ahmed Sheikh

    2016-04-01

    Full Text Available The purpose of this paper is to investigate whether excess cash, board attributes (i.e. board size, board independence and CEO duality and insider ownership affects the value of the firm. Data were taken from annual reports of non-financial firms listed on the Karachi Stock Exchange (KSE Pakistan during 2008-2012. Pooled ordinary least squares method used to estimate the effects of excess cash and internal governance indicators on the value of the firm. Our results indicate that excess cash is significantly negatively related to firm value. Excess cash along with board size is significant and negatively related to firm value. Excess cash along with insider ownership is significant and negatively related to firm value. Control variables namely leverage and dividends are positively while firm size is negatively related to firm value in all regressions. In sum, empirical results indicate that excess cash, board size and insider ownership have material effects on the value of the firm. Moreover, findings of this study provide support to managers to understand the impact of excess cash and internal governance measures on firm value. In addition, findings provide support to regulatory authorities to frame regulations that improve the level of corporate governance in the country.

  8. En Note om Programmering

    DEFF Research Database (Denmark)

    Nørmark, Kurt

    2012-01-01

    Denne note er en introduktion til programmering. Formålet er at give dig et indblik i hvad programmering egentlig er for noget. Jeg vil vise at programmering kan foregå på forskellige måder, og at der er mange forskellige udfordringer forbundet med at programmere. Noten vil ikke knytte sig til et...... bestemt programmeringssprog. Noten vil kunne supplere et egentlig undervisningsmateriale, der støtter dig i en bestemt form for programmering i et udvalgt programmeringssprog....

  9. Finnish bioenergy research programme

    Energy Technology Data Exchange (ETDEWEB)

    Asplund, D. [VTT Energy, Jyvaeskylae (Finland)

    1996-12-31

    Finland is a leading country in the use of biofuels and has excellent opportunities to increase the use of biofuels by up to 25-30 %. The Finnish Government has set an objective for the promotion of bioenergy. The aim is to increase the use of bioenergy by about 25 % from the present level by 2005, and the increment corresponds to 1.5 million tonnes of oil equivalent (toe) per year. The R and D work has been considered as an important factor to achieve this ambitious goal. Energy research was organised into a series of research programmes in 1988 in accordance with the proposal of Finnish Energy Research Committee. The object of the research programmes is to enhance research activities and to bundle individual projects together into larger research packages. The common target of the Finnish energy research programmes is to proceed from basic and applied research to product development and pilot operation, and after that to the first commercial applications, e.g. demonstrations. As the organisation of energy research to programmes has led to good results, the Finnish Ministry of Trade and Industry decided to go on with this practice by launching new six-year programmes in 1993-1998. One of these programmes is the Bioenergy Research Programme and the co-ordination of this programme is carried out by VTT Energy. Besides VTT Energy the Finnish Forest Research Institute, Work Efficiency Institute, Metsaeteho and University of Joensuu are participating in the programme 7 refs.

  10. Evaluating a training programme for executive coaches

    Directory of Open Access Journals (Sweden)

    Karolyne Beets

    2012-07-01

    Full Text Available Orientation: The evaluation of training programmes provides methodological and logistical challenges to evaluators and human resource (HR managers. The training of executive coaches is no exception in this regard. Research purpose: The study aimed to investigate one particular aspect of the results of an executive coach training programme, and the extent to which knowledge, skills and attitudes acquired during the programme were applied in practical settings.Motivation for the study: Too little is known in South Africa about the effectiveness of training programmes, including executive coach training programmes. There is a need to demonstrate methodological approaches that would provide valid and reliable data.Research design, approach and method: The success case method (SCM was used to guide the study, consisting first of a survey of 80 participants in the training programme, followed by eight interviews to compare successful with less successful cases of skills transfer.Main findings: All six successful coaches were applying the proximal outcomes from the training with good results, with several valuable consequences resulting from the training. Barriers to successful implementation included personal circumstances and unfulfilled expectations of the programme content.Practical/managerial implications: Aspects of the training programme that could be improved included: the buddy selection system, more individualised feedback about self-development, closer supervision, and more support from programme managers.Contribution/value-add: This evaluation contributes to the evaluation literature by providing a documented exploration of a systematic application of the SCM. It also contributes to the coach training literature by providing a systematic evaluation of a coach training intervention in South Africa.

  11. Outcomes-based planning and implementation led to the success of the Hawaii fruit fly suppression programme: Implications to adoption of area-wide programmes

    International Nuclear Information System (INIS)

    Full text: A critical component of successful area-wide pest management (AWPM) programmes are organised, coordinated and comprehensive outreach educational programmes. The Hawaii area-wide fruit fly pest management (HAW-FLYPM) programme's educational programme, a part of a USDA AWPM programme in Hawaii, utilised the 'logic model' approach to organise, plan, execute and evaluate farmer and community educational programmes statewide. The logic model approach was an outcome-driven rather than activity based method that employed a linear sequence that developed relationships between programme inputs, outputs and outcomes. This model was utilised extensively to transfer sustainable, science-based technologies to suppress tephritid fruit fly pests. HAW-FLYPM's educational programme targeted growers and community door yard growers, three teaching curricula aimed at elementary through high school students, and a statewide awareness programme for the public at large. Additional key components of the HAW-FLYPM education programme was the development of implementation schedules used to track programme progress, a comprehensive media matrix developed to ensure educational materials met the needs of target audience groups, and a sustainability calculator to assess the likelihood of programme sustainability after the initial five year funding cycle. The model served as a 'blue print' for ensuring programme elements were planned, delivered and executed on a timely basis. Utilisation of the logic model to organise efforts and manage diverse, multi agency programmes such as the HAW-FLYPM programme has shown to be a successful method of programme advancement and outcome achievement. (author)

  12. Costs and Benefits of In-Kind Transfers: The Case of Medicaid Home Care Benefits

    OpenAIRE

    Ethan M.J. Lieber; Lee M. Lockwood

    2013-01-01

    Many large government programs provide benefits in kind as opposed to in cash. Providing benefits in kind potentially distorts decisions and leads to a deadweight loss if recipients value the benefits less than a cost-equivalent cash transfer. Yet providing benefits in kind may have some offsetting benefits, especially in terms of improving the targeting of benefits to desired beneficiaries. We complete what is to our knowledge one of the first empirical studies of the costs and benefits of p...

  13. Welfare Transfers in Two-Parent Families: Labor Supply and Welfare Participation Under AFDC-UP

    OpenAIRE

    Hilary Hoynes

    1993-01-01

    This paper examines the effect of cash transfers and food stamp benefits on family labor supply and welfare participation among two-parent families. The Aid to Families with Dependent Children-Unemployed Parent Program has been providing cash benefits to two-parent households since 1961 and recent congressional action has increased its importance. In this model, the husband's and wife's labor supply decisions are constrained by a family budget constraint which is non-convex due to features of...

  14. Payment Scale Economies and the Replacement of Cash and Stored Value Cards

    OpenAIRE

    Wilko Bolt; David Humphrey

    2006-01-01

    Debit cards in Europe replace many medium value cash payments while stored value cards were designed to replace small value cash transac-tions. Unit cost considerations dictated a two-card (or single card) dual technology approach to cash replacement since unit costs were too high to use debit cards alone for low value transactions. We estimate payment scale economies and illustrate the change in processing volume likely needed to permit debit cards to cost-e¤ectively replace a greater porti...

  15. Internationale Cash Flow-Rechnungen aus Eigner- und Gläubigersicht

    OpenAIRE

    Becker, Gernot M.; Seeger, Norbert

    2003-01-01

    Cash flow statements have gained popularity worldwide and are now mandatory also under German GAAP for listed companies. Based on International Accounting Standard No. 7 we review their analytical value from both a shareholder’s and a creditor’s point of view. Cash flow patterns do vary from earnings patterns. Income earned is not identical with cash received. Enron and some other spectacular insolvency cases are just examples of this. In the first part of this working paper we present the co...

  16. 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.

  17. SET-Routes programme

    CERN Multimedia

    CERN audiovisual service

    2009-01-01

    The SET-Routes programme, launched in 2007 with the goal of attracting girls and young women to careers in science, came to an end in April this year. The result of a collaboration between EMBL, EMBO and CERN, the programme established a network of "ambassadors", women scientists who went out to talk about their careers in science at schools and universities across Europe.

  18. Fusion technology programme

    International Nuclear Information System (INIS)

    KfK participates to the Fusion Technology Programme of the European Community. Most of the work in progress addresses the Next European Torus (NET) and the long term technology aspects as defined in the 82/86 programme. A minor part serves to preparation of future contributions and to design studies on fusion concepts in a wider perspective. The Fusion Technology Programme of Euratom covers mainly aspects of nuclear engineering. Plasma engineering, heating, refueling and vacuum technology are at present part of the Physics Programme. In view of NET, integration of the different areas of work will be mandatory. KfK is therefore prepared to address technical aspects beyond the actual scope of the physics experiments. The technology tasks are reported project wise under title and code of the Euratom programme. Most of the projects described here are shared with other European fusion laboratories as indicated in the table annexed to this report. (orig./GG)

  19. 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.

  20. EMPIRICAL STUDY CONCERNING THE VIEWS ON THE FORMAT OF CASH FLOW STATEMENTS

    Directory of Open Access Journals (Sweden)

    LUCIAN IOAN SABĂU

    2012-11-01

    Full Text Available Following the proposals about the new IFRS that would replace the existing standards on financial statement presentation in IFRSs, IAS 1 Presentation of Financial Statements and IAS 7 Statement of Cash Flows, we conduct an empirical study on the opinions regarding the format of the cash flow statement, and the most appropriate method of presentation. The objective of this research is to develop a critical analysis based on this literature, regarding the most appropriate method of presenting cash flow statements. The results of our research is that the direct method is the most adequate for statement of cash flows, being confirmed by most studies reviewed, most researchers considering this method of reporting as the most appropriate and useful, compared with reporting by using the indirect method.

  1. Investment cash flow sensitivity under managerial optimism: new evidence from NYSE panel data firms

    Directory of Open Access Journals (Sweden)

    Ezzeddine Ben Mohamed

    2014-06-01

    Full Text Available 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 impact of CEOs’ optimism in the relationship between investment and internal cash flow. Our results report a positive and significant coefficient of investment to cash flow for the full sample. While, on estimations of our model using sub-sample of more and less constrained firms, we find that the sensitivity exists stronger only for totally constrained group. We find also that board characteristics can reduce investment policy’s distortions.

  2. How Many Disability Beneficiaries Forgo Cash Benefits Because of Work? Evidence from a New Measure.

    OpenAIRE

    Jody Schimmel; David Stapleton

    2012-01-01

    This issue brief summarizes findings from a longer report by Mathematica's disability experts, who used a new indicator to determine how many beneficiaries receiving Social Security Disability Insurance and Supplemental Security Income forgo cash benefits because of work.

  3. The nutrition and health impact of cash cropping in west Africa: a historical perspective.

    Science.gov (United States)

    Brun, T A

    1991-01-01

    The impact of cash cropping in West Africa cannot be isolated from its social and historical background. Among the many changes brought to West African economies by cash cropping since the beginning of the century, the present document shows how the extension of trade with European merchants and colonizers created new sets of values and criteria for wealth. Food crops gradually lost their prominent cultural and economics roles to the benefit of export crops or goods. Traditional systems of agricultural production were profoundly disrupted by military actions. They imposed colonial rule and control of trade of tropical crops and goods. Forced labor and compulsory (poorly paid) work assignments were instituted for private and public enterprises: construction of roads, railways, public buildings and plantations. The main justification was the need for cheap labor to cultivate, transport and build roads for the extraction of raw materials. This in turn caused massive migrations from countries such as Burkina Faso (Upper Volta) to Ivory Coast. Cash cropping made systematic collection of taxes possible. An imposition on a per capita basis became the rule and the major incentive of small farmers to engage in commercial farming. Cash cropping made also possible extensive monetarization of West Africa. This results in both favorable and unfavorable effects on the quality of the diet. In profoundly disrupted traditional societies, the diffusion of new consumption patterns was easier and faster. It led to massive food imports of wheat, rice, sugar, alcohol, etc. Cash cropping was (and still is) practiced as a 'mining' agriculture, exhausting soils and deteriorating their fertility for extended periods of time. In the Sudanian and Sahelian zones cash cropping conflicted with the cultivation of grains because peak demands for labor were similar. Therefore, millet and sorghum production declined. Cash cropping was developed in response to the need of European economies for

  4. The Moderating Effect of Ownership Structure on the Relationship between Free Cash Flow and Asset Utilisation

    OpenAIRE

    Takiah Mohd Iskandar; Rina Br Bukit; Zuraidah Mohd Sanusi

    2012-01-01

    Based on agency theory, ownership structure plays a role in monitoring managerial opportunistic behaviour. This study examines how different forms of ownership structures including foreign ownership, government ownership, and managerial ownership moderate the relationship between free cash flow and asset utilisation. This cross-sectional study involves companies listed on Bursa Malaysia. The results of a hierarchical multiple regression analysis show a negative relationship between free cash ...

  5. Problems with Cash and Other Non-Operating Assets Value in the Process of Valuing Company

    OpenAIRE

    Piotr Szczepankowski

    2007-01-01

    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 va...

  6. Cash Flow Forecasting as an Element of Integrated Reporting: An Empirical Study

    OpenAIRE

    R. G. Kaspina; L. A. Molotov; L. E. Kaspin

    2015-01-01

    The article is devoted to the practical aspects of integrated reporting cash flow forecasts. The proposed formationmethod is based on the fuzzy logics and the procedure of expert evaluations.As the result of a premade theoretical analysis of integrated reporting, an algorithm for cash flow forecasting hasbeen developed. Additionally, an example of practical application of the covered method based on integratedreporting data of JSC Nizhnekamskneftekhim has been included.

  7. Cash flow statement in financial statement analysis for small and medium sized enterprises

    OpenAIRE

    Hyvönen, Valtteri

    2016-01-01

    BACKGROUND AND MOTIVATION A new EU's accounting directive (2013/34/EU) focuses on the reliefs for financial statement disclosures of SMEs. Although directive 2013/34/EU is not taking a stand on cash flow preparation, in Finland a working group set by the Ministry of employment and economy has proposed that only large companies would be obliged to prepare cash flow statement as a part of financial statement. The Finnish parliament accepted the proposal in the part of renewed accounting law...

  8. 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...

  9. The Costs of Paying – Private and Social Costs of Cash and Card Payments

    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...

  10. From Cash to Accrual Budgeting and Accounting in the Public Sector: The Dutch Experience

    OpenAIRE

    van der Hoek, M. Peter

    2005-01-01

    Traditionally, governments used to deploy input-based budgeting systems and cash-based accounting systems. However, these systems do not provide the information that is necessary for a government to operate efficiently and effectively. Therefore, a growing number of countries have already shifted or are planning to shift from cash-based tot some form of accrual accounting in the public sector. Usually, the implementation of some accrual-based system is linked to wider financial management ref...

  11. Hedging media sales cash flow at otavamedia - A risk management method for closely held companies

    OpenAIRE

    Reenpää, Joonas

    2014-01-01

    Objectives of the thesis: The objective of this thesis is to discover whether Otavamedia, a Finnish media company, can utilize its' publicly listed competitors' shares as a tool of risk management for its media sales cash flow. The risk associated with media sales cash flow is the inevitable effect it has on shareholders' funds available for distribution. The advantage the company has is the advance knowledge of media advertising growth, which is generally found to be vastly cyclical and ...

  12. Measuring the Impact of Cash Crops on Household Expenditure and Poverty in Rural Viet Nam

    OpenAIRE

    Nguyen Viet, Cuong

    2008-01-01

    This paper measures the impacts of cash crops on household consumption expenditure and poverty in rural Viet Nam using data from the Viet Nam household living standards surveys (VHLSSs) of 2002 and 2004. It has been found that revenues from cash crops have positive and statistically significant impacts on per capita expenditure. More specifically, an increase of 1 Viet Nam dong (VND) in rice revenues leads to an increase of 0.019 VND in per capita expenditure, and the corresponding figures fo...

  13. Institutional Cash Pools and the Triffin Dilemma of the U.S. Banking System

    OpenAIRE

    Zoltan Pozsar

    2011-01-01

    Through the profiling of institutional cash pools, this paper explains the rise of the "shadow" banking system from a demand-side perspective. Explaining the rise of shadow banking from this angle paints a very different picture than the supply-side angle that views it as a story of banks' funding preferences and arbitrage. Institutional cash pools prefer to avoid too much unsecured exposure to banks even through insured deposits. Short-term government guaranteed securities are the next best ...

  14. Comfort and patient-centred care without excessive sedation:the eCASH concept

    OpenAIRE

    Vincent, Jean-Louis; Shehabi, Yahya; Walsh, Timothy S; Pandharipande, Pratik P; Ball, Jonathan A.; Spronk, Peter; Longrois, Dan; Strom, Thomas; Conti, Giorgio; Funk, Georg-Christian; Badenes, Rafael; Mantz, Jean; Spies, Claudia; Takala, Jukka

    2016-01-01

    We propose an integrated and adaptable approach to improve patient care and clinical outcomes through analgesia and light sedation, initiated early during an episode of critical illness and as a priority of care. This strategy, which may be regarded as an evolution of the Pain, Agitation and Delirium guidelines, is conveyed in the mnemonic eCASH-early Comfort using Analgesia, minimal Sedatives and maximal Humane care. eCASH aims to establish optimal patient comfort with minimal sedation as th...

  15. Effects of Excess Cash, Board Attributes and Insider Ownership on Firm Value: Evidence from Pakistan

    OpenAIRE

    Nadeem Ahmed Sheikh; Muhammad Imran Khan

    2016-01-01

    The purpose of this paper is to investigate whether excess cash, board attributes (i.e. board size, board independence and CEO duality) and insider ownership affects the value of the firm. Data were taken from annual reports of non-financial firms listed on the Karachi Stock Exchange (KSE) Pakistan during 2008-2012. Pooled ordinary least squares method used to estimate the effects of excess cash and internal governance indicators on the value of the firm. Our results indicate that...

  16. THE EFFECT OF AGROCLIMATIC FACTORS ON CASH CROPS PRODUCTION IN NIGERIA.

    OpenAIRE

    KAMIL AKINTUNDE

    2013-01-01

    This study examined the effects of agroclimatic factors on the yield of cash crops in Nigeria and other variables such as producer prices, exchange rate and level of national income (GDP). The effects of total rainfall, mean temperature, sunshine hour, relative humidity, radiation, exchange rate and GDP on the yields of three cash crops (Cocoa, Palm Kernel and Palm Oil) were estimated for the period 1970-2003 in Nigeria. The methods of analysis employed in the study were mainly error-correcti...

  17. Probabilistic Business Failure Prediction in Discounted Cash Flow Bond and Equity Valuation

    OpenAIRE

    Skogsvik, Kenth

    2006-01-01

    The purpose of the paper is to incorporate probabilistic business failure predictions in discounted cash flow (DCF) models for the valuation of company bonds and owners´ equity. The analysis shows that period-specific probabilities of business failure are instrumental to the assessment of expected values of cash flows in such models. Under somewhat restrictive conditions the failure risk can alternatively be accommodated through an adjustment of the discount rate, i.e. expected values of futu...

  18. The importance of check-cashing businesses to the unbanked: racial/ethnic differences

    OpenAIRE

    Greene, William H.; Sherrie L. W. Rhine; Maude Toussaint-Comeau

    2003-01-01

    The roughly 9.5 percent of all U.S. families that are without some type of transaction account (unbanked) are disproportionately represented by minorities. The unbanked often must rely on alternative ways to carry out basic financial transactions such as cashing payroll checks and paying bills. This study analyzes unique survey data and finds that a consumer's decision to patronize check-cashing businesses is jointly made with the decision to be unbanked. For the unbanked, these businesses ar...

  19. Diverse tipologie di venture capital e relazione tra investimenti e cash flow

    OpenAIRE

    Fabio Bertoni; Massimo G. Colombo; Annalisa Croce

    2009-01-01

    The impact of venture capital financing on the investment cash flow sensitivity - In this paper we study the effect of venture capital (VC) financing on firms’ investments in a longitudinal sample of 374 Italian unlisted new-technology-based firms (NTBFs) observed over the 10-year period from 1994 to 2003. In particular, we consider the influence of VC on both firms’ investment levels and the sensitivity of investments to firms’ cash flows. We also distinguish the effects of VC financing acc...

  20. Securities loans collateralized by cash: reinvestment risk, run risk, and incentive issues

    OpenAIRE

    Frank Keane

    2013-01-01

    Securities loans collateralized by cash are by far the most popular form of securities-lending transaction. But when the cash collateral associated with these transactions is actively reinvested by a lender’s agent, potential risks emerge. This study argues that the standard compensation scheme for securities-lending agents, which typically provides for agents to share in gains but not losses, creates incentives for them to take excessive risk. It also highlights the need for greater scrutiny...

  1. Estimated Effects on the Supplemental Nutrition Assistance Program of Eliminating California's SSI Cash-Out Policy.

    OpenAIRE

    Karen Cunnyngham

    2010-01-01

    This report evaluates how eliminating Supplemental Security Income (SSI) cash-out would affect SNAP (formerly the Food Stamp Program) eligibility and benefits for Californians receiving SSI and for nonelderly, nondisabled family members living with them. In 1974, California opted to “cash out†recipients SSI benefits from SNAP. In lieu of SNAP eligibility for low-income seniors and people with disabilities receiving SSI, the state increased the State Supplementary Payments by $10.

  2. Estimated Effects on the Supplemental Nutrition Assistance Program of Eliminating Californias SSI CashOut Policy

    OpenAIRE

    Karen Cunnyngham

    2010-01-01

    This report evaluates how eliminating Supplemental Security Income (SSI) cash-out would affect SNAP (formerly the Food Stamp Program) eligibility and benefits for Californians receiving SSI and for nonelderly, nondisabled family members living with them. In 1974, California opted to “cash out†recipients SSI benefits from SNAP. In lieu of SNAP eligibility for low-income seniors and people with disabilities receiving SSI, the state increased the State Supplementary Payments by $10.

  3. ACFAC: a cash flow analysis code for estimating product price from an industrial operation

    International Nuclear Information System (INIS)

    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. EXCESS CASH HOLDINGS DAN KEPEMILIKAN INSTITUSIONAL PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

    OpenAIRE

    Yessica Tria Christina; Erni Ekawati

    2014-01-01

    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 pr...

  5. Lagos-Wright vs. Cash-in-Advance: Government Policy Response to War-Expenditure Shocks

    OpenAIRE

    Fernando M. Martin

    2011-01-01

    I pit the Lagos-Wright micro founded model of money with the reduced-form cash-in-advance model in terms of their predictions for the response of government policy to war-expenditure shocks. The Lagos-Wright model performs well qualitative and quantitatively. Depending on specific assumptions about preferences, the cash-in-advance model either has some qualitative or quantitative shortcomings.

  6. Does Cash Contribute to Value? A Comparison of Constrained and Unconstrained Firms in China and Germany

    OpenAIRE

    , Wei Zhang; Henk von Eije; Wim Westerman

    2015-01-01

    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 th...

  7. Graduate nuclear engineering programmes motivate educational and research activities

    International Nuclear Information System (INIS)

    Some fifteen years ago the University of Ljubljana, Faculty for Mathematics and Physics together with the national research organisation the J. Stefan jointly established a Graduate programme of Nuclear Engineering. From the onset, the programme focused on nuclear technology, nuclear safety, and reactor physics and environment protection. Over the years this graduate programme has became the focal point of nuclear related, research and educational activities in Slovenia. It has grown into a meeting ground for recognised national and distinguished foreign educators and experienced professionals from the industry. In conjunction with an important national project, supported by the Slovenian government, entitled 'Jung Researcher' it also enhances the knowledge transfer to the next generation. Since the programme was introduced, the interest for this programme has been steadily growing. Accordingly, a number of PhD and MS degrees in NE have been awarded. The graduates of this programme have encountered very good job opportunities in nuclear as well as in non-nuclear sector. (author)

  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)

    International Nuclear Information System (INIS)

    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. 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.

  10. International evidence of nexus between positive operating cash activities and cost of debt

    Directory of Open Access Journals (Sweden)

    Harit Satt

    2015-08-01

    Full Text Available This paper identifies the affiliation between the ending cash balance of the operating section in the cash flow statement and the bonds ratings. Our sample includes 600 companies from 26 countries. The study was conducted over a period of 18 years. An Ordered Probit regression analysis had been applied to identify how the positive cash balance of the operating section in the cash flow statement shapes the probability of escalating the bonds ratings. We find burly proof that the positive operating cash balance considerably affects the bonds ratings. In other words, when a company is able to generate enough cash from its main operating activities, the likelihood of having higher bonds ratings raises;  this entails a low cost of debt since higher bond ratings have been proven to lessen the company’s cost for raising funds (in the form of bonds. The results add more confirmation to the creditors’ rights shields and how it affects the cost of debt.

  11. 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.

  12. 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.

  13. Invoicing and Financial Forecasting of Time and Amount of Corresponding Cash Inflow

    Directory of Open Access Journals (Sweden)

    Dragan Simić

    2011-09-01

    Full Text Available Cash is the centre of all financial decisions. It is used as basis for the future investment projections and enterprises' financial plans. A concept of intelligent system for financial forecasting, the dynamic of issuing invoices and receiving corresponding cash inflow for fair exhibitions is presented in this article. This intelligent system is based on artificial intelligent method case-based reasoning (CBR where the previous experience for new forecasting is taken into account. This research is a discussion about the problem of invoice curve and the corresponding cash inflow curve at the moment of the fair exhibition. The invoice curve reaches its saturation point, while the cash inflow curve is still far away from the saturation point. The solution to this problem is the saturation point for the cash inflow curve. Therefore managers want to know how high the cash inflow of some services would at a certain point of time in the future, with respect to invoicing. If they could predict reliably enough what would happen in the future, they could plan important business activities to ensure faster invoiced income and future activities. Methodological aspects have been tested, in practice, as a part of the management information system development project for Novi Sad Fair company.

  14. 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.

  15. Family control,institutional environment and cash dividend policy:Evidence from China

    Institute of Scientific and Technical Information of China (English)

    Zhihua; Wei; Shinong; Wu; Changqing; Li; Wei; Chen

    2011-01-01

    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 1 and encouraging family firms to pay cash dividends.

  16. The European Fusion Programme

    International Nuclear Information System (INIS)

    The European Fusion Programme is coordinated by Euratom and represents a long term cooperative project of Member States of the European Communities in the field of fusion, designed to lead to the joint construction of prototypes. The main lines of the programme proposed for 1982 to 1986 are: (1) the continuation of a strong effort on tokamaks with emphasis on JET construction, operation and upgrading, (2) conceptual design of NET and development of the related technology, and (3) further work on two alternative magnetic confinement systems. The current status and future plans for this programme are discussed in the paper. (author)

  17. Addressing the double burden of malnutrition in Egypt: do conditional cash transfers have a role?

    OpenAIRE

    Aitsi-Selmi, A; Benova, L; Sholkamy, H.; Marmot, M

    2009-01-01

    Many developing countries are undergoing rapid socio-economic changes that impact on health and its social distribution. These changes can occur so rapidly that there is a resulting co-existence of diseases of affluence and diseases of poverty. Priority setting for nutritional programs has focused on the alleviation of undernutrition in low income settings. However, evidence shows that in many Low-and-Middle Income Countries the prevalence of obesity among women is increasing and can coexist ...

  18. Can Conditional Cash Transfers compensate for a father’s absence?

    OpenAIRE

    Fitzsimons, E; Mesnard, A.

    2014-01-01

    This paper investigates how the permanent departure of the father from a household affects children's school enrollment and work participation in rural Colombia. The results indicate that the permanent departure of the father decreases children's school enrollment by approximately 5 percentage points and increases child labor by 3 percentage points. This paper explores the rollout of a con...

  19. Network virtualization and programmability

    OpenAIRE

    Colle, Didier; Jooris, Bart; Gurzi, Pasquale; Pickavet, Mario; Demeester, Piet

    2010-01-01

    We present network virtualization (building virtual or logical networks over a physical infrastructure) and network programmability (allowing the network operator to at least control the network but more fundamentally to define its behavior) concepts.

  20. Elukestva õppe programm : Erasmus+

    Index Scriptorium Estoniae

    2014-01-01

    Erasmus+ programm liidab senised koostööprogrammid „Euroopa elukestva õppe programm“, „Euroopa Noored“ ning Euroopa komisjoni rahvusvahelised kõrgharidusprogrammid. Elukestva õppe programmi 2013 kokkuvõte

  1. Fellows, Associates & Students Programmes

    CERN Document Server

    2005-01-01

    The present document reviews the CERN Fellows, Associates and Students Programmes emphasizing the developments since 2000, when the previous review was presented to the Scientific Policy Committee, Finance Committee and Council (CERN/2325), and makes proposals for the coming five years. In summary, it is proposed to â?¢ Simplify the payment scheme for the Paid Scientific Associates Programme, which will no longer depend on candidateâ??s home support and age; â?¢ Broaden the scope of the Fellowship Programme, in order to facilitate the recruitment of young graduates in computing and engineering. Age-related eligibility conditions and payment levels will be replaced with experience-based criteria; â?¢ Modify subsistence rates for the Doctoral and Technical Student Programme in order to harmonize CERNâ??s payment levels with those offered by other research establishments. This document is presented for discussion and recommendation by the Scientific Policy Committee and approval by the Council. Additiona...

  2. Greek Teachers Programme 2015

    CERN Multimedia

    Hoch, Michael

    2015-01-01

    The 3rd edition of this year's Greek Teachers Programme was co-organized by CERN Education Group and the Hellenic Physical Society and took place from 8 to 12 November 2015. The programme targets physics high-school teachers from all over Greece. It aims to help teachers inspire the next generation of scientists and engineers by motivating their students to understand and appreciate how science works at the world's largest physics laboratory, whereby increasing their interest in pursuing studies in STEM fields in secondary and post-secondary education. 33 teachers took part in this programme which comprised lectures by Greek members of the CERN scientific community, with visits to experimental facilities, hands-on activities and dedicated sessions on effective and creative ways through which participants may bring physics, particle physics and CERN closer to their school classroom. In 2015, more than 100 teachers took part in the three editions of the Greek Teachers Programme.

  3. The Gold Standard Programme

    DEFF Research Database (Denmark)

    Neumann, Tim; Rasmussen, Mette; Ghith, Nermin;

    2013-01-01

    To evaluate the real-life effect of an evidence-based Gold Standard Programme (GSP) for smoking cessation interventions in disadvantaged patients and to identify modifiable factors that consistently produce the highest abstinence rates.......To evaluate the real-life effect of an evidence-based Gold Standard Programme (GSP) for smoking cessation interventions in disadvantaged patients and to identify modifiable factors that consistently produce the highest abstinence rates....

  4. Stay Safe Programme

    OpenAIRE

    MacIntyre, Deirdre; Carr, Alan.

    1999-01-01

    Objective. This child abuse prevention study aimed to evaluate the effectiveness of the Stay Safe Programme in training unscreened 7 and 10 year old children in personal safety skills. Subsidiary aims were to evaluate the programme's impact on children's self-esteem and parents' and teachers' knowledge and attitudes of relevance to child abuse and protection. Method. Changes in safety knowledge and skills and self-esteem of 339 children who participated in the Stay Safe Program...

  5. Punch Card Programmable Microfluidics

    OpenAIRE

    George Korir; Manu Prakash

    2014-01-01

    Small volume fluid handling in single and multiphase microfluidics provides a promising strategy for efficient bio-chemical assays, low-cost point-of-care diagnostics and new approaches to scientific discoveries. However multiple barriers exist towards low-cost field deployment of programmable microfluidics. Incorporating multiple pumps, mixers and discrete valve based control of nanoliter fluids and droplets in an integrated, programmable manner without additional required external component...

  6. Active Labour Market Programmes and Unemployment in a Dual Labour Market

    OpenAIRE

    Fukushima, Yoshihiko

    1998-01-01

    The paper presents a theoretical analysis of the macroeconomic effects of active labour market programmes in a dual labour-market framework. The paper uses the Shapiro-Stiglitz efficiency-wage model. Active labour market programmes train unskilled labour and transfer them from a high-unemployment to a low-unemployment sector. Programmes have a direct labour-transfer effect which tends to reduce total unemployment. They also have effects on wages via expectations. The later effects were to a v...

  7. Liquor Activity Reduction (LAR) Programme - 12397

    International Nuclear Information System (INIS)

    Waste material from the reprocessing of irradiated fuel has been stored under water for several decades leading to the water becoming highly radioactive. As a critical enabler to the decommissioning strategy for the Sellafield site, the Liquor Activity Reduction (LAR) programme has been established to provide a processing route for this highly radioactive liquor. This paper reviews the progress that has been made since the start of routine LAR transfer cycles (July 2010) and follows on from the earlier paper presented at WM2011. The paper focuses on the learning from the first full year of routine LAR transfer cycles and the application of this learning to the wider strategies for the treatment of further radioactive liquid effluents on the Sellafield site. During this period over 100,000 Curies of radioactivity has been safely removed and treated. The past year has witnessed the very successful introduction of the LAR programme. This has lead to hazard reduction at MSSS and demonstration that the SIXEP facility can meet the significantly increased challenge that the LAR programme represents. Part of the success has been the ability to predict and deliver a realistic production schedule with the availability of the MSSS, EDT and SIXEP facilities being central to this. Most importantly, the LAR programme has been successful in bringing together key stakeholders to deliver this work while integrating with the existing, day to day, demands of the Sellafield site. (authors)

  8. The Brazilian nuclear power manpower development programme

    International Nuclear Information System (INIS)

    Since the early stages of decision making, manpower availability has been recognized to be a key factor for the implementation of Brazil's nuclear power programme. Though care has been given to securing an industrial base and financial resources, the consequences of a lack of sufficient qualified manpower could be critical for the success of the whole programme. The broad scope of the Brazilian nuclear power programme which, as a main concept, aimed at establishing in the country a complete fuel cycle industry together with the construction of nuclear power plants, added another burden to the already complex task of providing appropriate human resources when advanced technologies are introduced in a developing country. Thus, not only the work-force required for nuclear power plant operation but also that needed for plant design, component manufacture, fuel cycle plant design and operation, had to be made available in number and qualification in accordance with the standards of the nuclear industry. The feasibility of the Brazilian programme depended on a complete transfer of technology, essentially achieved through personnel training. Again, the process of manpower preparation for an efficient know-how transfer required careful planning, and the great difficulty in its implementation was the lack of reliable experience at the time. (author)

  9. Liquor Activity Reduction (LAR) Programme - 12397

    Energy Technology Data Exchange (ETDEWEB)

    Pether, Colin; Carrol, Phil; Birkett, Eddie; Kibble, Matthew [Sellafield Ltd, Cumbria (United Kingdom)

    2012-07-01

    Waste material from the reprocessing of irradiated fuel has been stored under water for several decades leading to the water becoming highly radioactive. As a critical enabler to the decommissioning strategy for the Sellafield site, the Liquor Activity Reduction (LAR) programme has been established to provide a processing route for this highly radioactive liquor. This paper reviews the progress that has been made since the start of routine LAR transfer cycles (July 2010) and follows on from the earlier paper presented at WM2011. The paper focuses on the learning from the first full year of routine LAR transfer cycles and the application of this learning to the wider strategies for the treatment of further radioactive liquid effluents on the Sellafield site. During this period over 100,000 Curies of radioactivity has been safely removed and treated. The past year has witnessed the very successful introduction of the LAR programme. This has lead to hazard reduction at MSSS and demonstration that the SIXEP facility can meet the significantly increased challenge that the LAR programme represents. Part of the success has been the ability to predict and deliver a realistic production schedule with the availability of the MSSS, EDT and SIXEP facilities being central to this. Most importantly, the LAR programme has been successful in bringing together key stakeholders to deliver this work while integrating with the existing, day to day, demands of the Sellafield site. (authors)

  10. Bolsa Família (Family Grant Programme: an analysis of Brazilian income transfer programme Du mythe à la réalité : l'expérience du tourisme durable dans la communauté du Vale Encantado, Forêt de Tijuca, Rio de Janeiro, Brésil Del mito a la relidad : la experiencia del turismo sostenible en la comunidad de Vale Encantado, Bosque de Tijuca, Río de Janeiro, Brasil

    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.Considérée comme une des plus grandes forêts urbaines du monde et la troisième plus grande du Brésil, la Forêt de Tijuca, située dans la Ville de Rio de Janeiro, est face à un grand défi : cohabiter de façon harmonieuse et durable avec les 46 favelas qui l’entourent. L’une de ces communautés, le Vale Encantado, dont la présence remonte au milieu du XVIIIe siècle, a connu les différents cycles de production qui y ont été développés : l’extraction de bois, l’exploitation agricole, l’élevage, la culture de plantes ornementales et l’extraction du granit noir. Ces cycles de production ont, directement ou indirectement, eu un effet négatif sur la forêt primaire. Cependant, parallèlement à ce processus, la communauté du Vale Encantado s’est attachée à reconstituer et à préserver ce fragment de Forêt Atlantique grâce à la reforestation et à la cr

  11. ANFIS Based Time Series Prediction Method of Bank Cash Flow Optimized by Adaptive Population Activity PSO Algorithm

    OpenAIRE

    Jie-Sheng Wang; Chen-Xu Ning

    2015-01-01

    In order to improve the accuracy and real-time of all kinds of information in the cash business, and solve the problem which accuracy and stability is not high of the data linkage between cash inventory forecasting and cash management information in the commercial bank, a hybrid learning algorithm is proposed based on adaptive population activity particle swarm optimization (APAPSO) algorithm combined with the least squares method (LMS) to optimize the adaptive network-based fuzzy inference s...

  12. The Governance Slack Model: A cash flow approach for the budgeting and accountability of some corporate governance issues

    OpenAIRE

    Apreda, Rodolfo

    2002-01-01

    This paper introduces a cash flow model to budget and monitor distinctive matters usually arising in corporate governance. By enlarging the standard cash flow model widely used in Finance, and avoiding some of its downsides, it sets up a composite of cash flows called governance slack, which amounts to a comprehensive budget for the most usual governance issues. This slack has a dual structure whose dynamics keeps track of uses and sources of its components, preventing likely agency problems ...

  13. The safety of cash and debit cards: a study on the perception and behaviour of Dutch consumers

    OpenAIRE

    Anneke Kosse

    2010-01-01

    This paper investigates the impact of consumers' safety perception on debit card and cash usage. A conceptual framework of safety perception and payment behaviour is introduced and tested with 2008 consumer survey data. The results demonstrate that consumers' payment preferences for cash and debit cards are strongly affected by how consumers assess the likelihood and seriousness of safety incidents related to cash, debit cards and ATM withdrawals. Risk aversion, personal characteristics and p...

  14. A study on relationship between capital employed efficiency and operating cash flow: Evidence from Tehran Stock Exchange

    OpenAIRE

    Mohammad Hassani; Mehri Misaghi

    2013-01-01

    Capital employed efficiency is one of the intellectual capital components based on value added intellectual capital model. It is calculated by dividing value added on capital employed. Operational cash flow is made from operating activities. It is expected that created value added from capital employed could make more operational cash flow. This paper investigates the relationship between capital employed efficiency and operating cash flow. To test this hypothesis, data has been collected fro...

  15. ADS National Programmes: France

    International Nuclear Information System (INIS)

    Studies related to nuclear reactors and radioactive waste started at the French National Centre for Scientific research, CNRS, as a result of the French law on radioactive waste that was published in 1991. They were initially organized around the programme PACE (Physique pour l’Aval du Cycle Electronucléaire = physics of the back end of the nuclear fuel cycle), which became PACEN (Physique pour l’Aval du Cycle et production d’Energie Nucléaire = Physics of the back end of the nuclear fuel cycle and production of nuclear energy) in 2006. Research on accelerator driven systems was from the beginning part of this programme. This research is mainly funded by the National Institute for Nuclear end Particle Physics (IN2P3) of CNRS and within the EURATOM European programmes (FP5, 6 and 7). The programme took place in several stages, and covered various scientific fields, benefitting from expertise of CNRS in the field. More specifically, it aimed and still aims to: – Test and verify the feasibility and design of the ADS concept, in terms of neutronics, physics of materials, design of the accelerator and tests of its prototypical components that have been built (or are at present under construction); – Measure and-or improve nuclear data related to radioactive waste transmutation. Today, most of the activities in support to ADS development carried out by CNRS focus on accelerator developments, GUINEVERE (Generator of Uninterrupted Intense NEutron at the lead VEnus REactor) experiment, ADS core studies, deployment scenarios and nuclear data measurements. The CEA R&D programmes on ADS are mainly focused on the European project EUROTRANS of the 6th Framework programme (2005–2010) and continued in the FREYA project of the 7th Framework Programme

  16. Real options valuation of fusion energy R and D programme

    Energy Technology Data Exchange (ETDEWEB)

    Bednyagin, Denis [Ecole Polytechnique Federale de Lausanne (EPFL), Station 18, CH-1015 (Switzerland); EIC Partners AG, Seefeldstrasse 19, 8008 Zurich (Switzerland); Gnansounou, Edgard [Ecole Polytechnique Federale de Lausanne (EPFL), Station 18, CH-1015 (Switzerland)

    2011-01-15

    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. (author)

  17. RECRUITMENT FINANCED BY SAVED LEAVE (RSL PROGRAMME)

    CERN Multimedia

    Division du Personnel; Tel. 73903

    1999-01-01

    Transfer to the saved leave account and saved leave bonusStaff members participating in the RSL programme may opt to transfer up to 10 days of unused annual leave or unused compensatory leave into their saved leave account, at the end of the leave year, i.e. 30 September (as set out in the implementation procedure dated 27 August 1997).A leave transfer request form, which you should complete, sign and return, if you wish to use this possibility, has been addressed you. To allow the necessary time for the processing of your request, you should return it without delay.As foreseen in the implementation procedure, an additional day of saved leave will be granted for each full period of 20 days remaining in the saved leave account on 31 December 1999, for any staff member participating in the RSL programme until that date.For part-time staff members participating in the RSL programme, the above-mentioned days of leave (annual, compensatory and saved) are adjusted proportionally to their contractual working week as...

  18. 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

  19. A Multi-Objective Fuzzy Linear Programming Model for Cash Flow Management

    Directory of Open Access Journals (Sweden)

    A. M. El-Kholy

    2014-08-01

    Full Text Available Although significant research work has been conducted on cash flow forecast, planning, and management, the objective is constantly the maximization of profit/final cash balance, or minimization of total project cost. This paper presents a multi-objective fuzzy linear programming model (FLP for resolving the optimization problem of three conflicting objectives: final cash balance, cost of money, and initial cash balance. The proposed model depends on Jiang et al. (2011 Model. In the new formulation, both the advanced payment and delay of owner's progress payment one period were considered. Literature concerned with cash flow studies and models for construction projects was reviewed. Fuzzy linear programming applications in literature was presented and it's concept was then described. Jiang et al. (2011 Model is presented. The proposed model development was then presented. The proposed model was validated using an example project. An optimization of each individual objective was performed with a linear programming (LP software (Lindo that gave the upper and lower bounds for the multi-objective analysis. Fuzzy linear programming was then applied to optimize the solution. Four cases are considered: considering advanced payment and delay of owner's progress payment one period simultaneously, then separately, and neglecting advanced payment and delay of owner's progress payment. Penalty of delayed payment have been also considered. Analysis of the results revealed that the model is an effective decision making tool to be used by industry practitioners with reasonable accuracy.

  20. ADS National Programmes: Germany

    International Nuclear Information System (INIS)

    The German R&D programme for ADS development is related to the partitioning and transmutation of spent fuel. This programme is implemented mainly by the three national research centres belonging to the Helmholtz Association, i.e. Karlsruhe Institute of Technology (KIT), Forschungszentrum Jülich (FZJ) in cooperation with the Technical University of Aachen (RWTH Aachen) and the Helmholtz Zentrum Dresden Rossendorf (HZDR). The main purpose of this R&D programme is the prospect to manage the high level radioactive waste such as to reduce the burden on a final repository. P&T does not eliminate the need for a final repository whatever the strategy, but it allows the reduction of the radio-toxicity associated with radioactive waste, the increase of the repository capacity as a consequence of the reduction of masses to be stored and their associated residual heat load. Different fuel cycle scenarios to implement P&T can be envisaged. These scenarios have been evaluated to identify the impact of P&T on the characteristics, number and deployment pace of the installations of the fuel cycle (reprocessing, fuel fabrication, storage etc). Almost all activities conducted in the R&D programme are embedded in European and international projects and initiatives. In the following more details on the relevant components of the R&D programme are summarized

  1. Punch Card Programmable Microfluidics

    CERN Document Server

    Korir, George

    2014-01-01

    Small volume fluid handling in single and multiphase microfluidics provides a promising strategy for efficient bio-chemical assays, low-cost point-of-care diagnostics and new approaches to scientific discoveries. However multiple barriers exist towards low-cost field deployment of programmable microfluidics. Incorporating multiple pumps, mixers and discrete valve based control of nanoliter fluids and droplets in an integrated, programmable manner without additional required external components has remained elusive. Combining the idea of punch card programming with arbitrary fluid control, here we describe a self-contained, hand-crank powered, multiplex and robust programmable microfluidic platform. A paper tape encodes information as a series of punched holes. A mechanical reader/actuator reads these paper tapes and correspondingly executes a series of operations onto a microfluidic chip coupled to the platform in a plug-and-play fashion. Enabled by the complexity of codes that can be represented by a series ...

  2. External Mobility Programme

    CERN Document Server

    HR Department

    2007-01-01

    Every year, a significant number of highly-skilled staff members leave the Organization and offer their talents on the European job market. CERN is launching a programme aiming to help staff members to whom the Organization cannot offer an indefinite contract in the transition towards their next employment. The programme, which is based on the establishment of a number of partnerships with potential employers in the private sector, will run on a voluntary basis. Staff members who have received confirmation that they will not be offered an indefinite contract and who are interested in availing themselves of the opportunities offered by the programme, are invited to enrol by following the procedure described at: https://ert.cern.ch/browse_intranet/wd_pds?p_web_page_id=5841 Applications will be processed in the strictest confidence by the Human Resources Department and eligible profiles will then be made available to partner companies for recruitment purposes. Any subsequent ...

  3. The French nuclear programme

    International Nuclear Information System (INIS)

    EDF has long been interested in the use of nuclear energy for thermal power generation. After a period of apprenticeship and experiments, EDF launched a major PWR plant programme so as to reduce France's energy dependence and master generation costs. This programme, based on standardization, has achieved the desired results. It must now be adapted to suit the needs of the 21st century. For this programme, all those involved (Governmental authorities, EDF, manufacturers) were mobilized to an unprecedented extent and rigorous working methods were imposed. Experience feedback has been used to make improvements both to the installations themselves and to procedures. Results have proved satisfactory as regards nuclear safety but vigilance must be maintained. Public opinion on nuclear power is reserved we are sentenced to achieving a 'fault-free' track record, all the while mastering costs, so as to ensure the continuing use of nuclear energy. (author)

  4. Funktionell Programmering : En framtidsprognos

    OpenAIRE

    Holmer, Mattias

    2011-01-01

    Trenden inom systemutveckling och programutveckling går mot ett mer användande av multi programmeringsparadigmer. Funktionell programmering har fått mer uppmärksamhet på senare tid och utvecklingen tycks över lag gå än mer åt det deklarativa hållet där programmeraren fokuserar mer på vad som skall utföras och inte lika mycket på hur. Under en tid har det objektorienterade paradigmet varit dominerande, kommer det vara så i framtiden? Funktionell programmering skiljer sig från imperativ program...

  5. A programmer's geometry

    CERN Document Server

    Bowyer, Adrian

    1983-01-01

    A Programmer's Geometry provides a guide in programming geometric shapes. The book presents formulas and examples of computer representation and coding of geometry. Each of the nine chapters of the text deals with the representation and solution of a specific geometrical problem, such as areas, vectors, and volumes. The last chapter provides a brief discussion on generating image through a computer. The codes presented in the book are written in FORTRAN 77. The text will be of great use to programmers who are working on projects that involve geometric calculations.

  6. Computer mathematics for programmers

    CERN Document Server

    Abney, Darrell H; Sibrel, Donald W

    1985-01-01

    Computer Mathematics for Programmers presents the Mathematics that is essential to the computer programmer.The book is comprised of 10 chapters. The first chapter introduces several computer number systems. Chapter 2 shows how to perform arithmetic operations using the number systems introduced in Chapter 1. The third chapter covers the way numbers are stored in computers, how the computer performs arithmetic on real numbers and integers, and how round-off errors are generated in computer programs. Chapter 4 details the use of algorithms and flowcharting as problem-solving tools for computer p

  7. Advances in childhood immunisation in South Africa: where to now? Programme managers’ views and evidence from systematic reviews

    Directory of Open Access Journals (Sweden)

    Wiysonge Charles

    2012-07-01

    Full Text Available Abstract Background The Expanded Programme on Immunisation (EPI is one of the most powerful and cost-effective public health programmes to improve child survival. We assessed challenges and enablers for the programme in South Africa, as we approach the 2015 deadline for the Millennium Development Goals. Methods Between September 2009 and September 2010 we requested national and provincial EPI managers in South Africa to identify key challenges facing EPI, and to propose appropriate solutions. We collated their responses and searched for systematic reviews on the effectiveness of the proposed solutions; in the Health Systems Evidence, Cochrane Library, and PubMed electronic databases. We screened the search outputs, selected systematic reviews, extracted data, and assessed the quality of included reviews (using AMSTAR and the quality of the evidence (using GRADE in duplicate; resolving disagreements by discussion and consensus. Results Challenges identified by EPI managers were linked to healthcare workers (insufficient knowledge of vaccines and immunisation, the public (anti-immunisation rumours and reluctance from parents, and health system (insufficient financial and human resources. Strategies proposed by managers to overcome the challenges include training, supervision, and audit and feedback; strengthening advocacy and social mobilisation; and sustainable EPI funding schemes, respectively. The findings from reliable systematic reviews indicate that interactive educational meetings, audit and feedback, and supportive supervision improve healthcare worker performance. Structured and interactive communication tools probably increase parents’ understanding of immunisation; and reminders and recall, use of community health workers, conditional cash transfers, and mass media interventions probably increase immunisation coverage. Finally, a national social health insurance scheme is a potential EPI financing mechanism; however, given the absence

  8. The New Darwinism of the Payment System: Will Bitcoin Replace our Cash-based Society?

    Directory of Open Access Journals (Sweden)

    Wonglimpiyarat J

    2016-01-01

    Full Text Available This paper is concerned with the new Darwinism of the payment system. The researcher discusses the payment system to understand if Bitcoin would replace our cash-based society. The analysis is based on the technology S-curve and Schumpeter’s model of economic development. At present, there are problems hindering Bitcoin innovation to achieve a wide adoption as the innovation is not well received by the government central banks around the world. It is interesting to see that the swing of S-curves is not strong enough to cause a paradigm shift according to the Schumpeterian concept of creative destruction. The results have shown parallel S-curve trajectories of electronic money innovations signifying a move from a cash-based economy towards a less cash society. The study provides useful implications to support the diffusion of Bitcoin innovation.

  9. CASH FLOW – AN INSTRUMET FOR ANNALYSING AND DETERMINING THE VALUE OF AN ENTERPRISE

    Directory of Open Access Journals (Sweden)

    Valentina Dorina BOGDAN

    2015-11-01

    Full Text Available The purpose of this thesis is to understand the logic of the approach based on income and the methods included in this approach. Reading through this paper must provide us with the ability to choose and correctly apply the methods presented in order to estimate the enterprise value. Understanding the method cash - flow update – is conditioned by the differentiation between collection and income, fees and expenses. The profit is the result of comparing revenues and expenses. Not all revenue generate collection at the same time; not all expenses generate payments. Their registration into accounting is delayed. Cash-flow is the evolution of the availability of funds in itself of the company, the evolution of the net treasury. In summary, we note that approach based on income estimates an enterprise value by converting future streams of income in the present value of an enterprise which can generate those cash flows.

  10. Cash flow as an important solvency determinant of agricultural enterprises in the Slovak Republic

    Directory of Open Access Journals (Sweden)

    S. Miklovicová

    2009-09-01

    Full Text Available In this paper deals with the cash flow analysis in agricultural companies in particular regions of the SlovakRepublic. At present, from a company’s point of view it is not so important to reach a profit but to have asufficient cash to keep solvency. On base of column and balance cash flow composition we determine in whichareas agricultural companies invested money and what sources they used to finance their activities.Agricultural companies in the Slovak Republic financed their activities particularly from internal sources,however, they used external sources, too. Companies situated in better natural conditions spent more externalsources than companies in LFA. The companies used the financial sources in operating and investment activitiesequally.

  11. Atomic and anonymous e-Cash transaction protocol with off-line TTP

    Institute of Scientific and Technical Information of China (English)

    王茜; 李朝阳; 杨德礼

    2004-01-01

    Atomicity and anonymity are desirable properties for reliable and security e-Cash transaction and the guarantee of the participants' interests. But there are conflicts between these two properties. In this paper, an atomic and anonymous e-Cash transaction protocol with off-line TTP (Trust Third Party) based on the extended CEMBS is presented. The novel protocol is analyzed for its atomicity and anonymity. The results of the analysis show that it not only provides atomicity and anonymity under unreliable communication and dishonest partici-pants, but also features high efficiency and practicability. The new protocol also avoids transaction from a am-biguous state. Furthermore, it will be referenced often for the application of the atomic e-Cash transaction proto-col.

  12. Voluntary disclosing cash flow statement in non-listed medium sized companies

    DEFF Research Database (Denmark)

    Schøler, Finn

    2012-01-01

    annual reports from 385 Danish non-listed medium-sized companies who were disclosing a cash flow statement as part of their annual report, we found that in a few cases, the companies were exempted to presentation of consolidated financial statements, but disclosing the cash flow statement voluntarily...... reason we conducted a multiple-case study, where we formulated a structured questionnaire and made partly open-ended interview with each one of the case-companies’ accountably responsible persons, i.e. one of the guys who signed the annual report. Among the majority of the answers we found a common......In Denmark, like some other EU Member States, medium-sized companies are requested to present a cash flow statement, but there are exemption rules similar to those for subgroups’ exemption to their presentation of consolidated financial statements. In a sample consisting of the paper versions of...

  13. A Fair Off-Line Electronic Cash Scheme Based on Restrictive Partially Blind Signature

    Institute of Scientific and Technical Information of China (English)

    王常吉; 吴建平; 段海新

    2004-01-01

    A fair off-line electronic cash scheme was presented based on a provable secure restrictive partially blind signature.The scheme is more efficient than those of previous works as the expiry date and denomination information are embedded in the electronic cash,which alleviates the storage pressure for the bank to check double spending,and the bank need not use different public keys for different coin values,shops and users need not carry a list of bank's public keys to verify in their electronic wallet.The modular exponentiations are reduced for both the user and the bank by letting the trustee publish the public values with different structure as those of previous electronic cash schemes.The scheme security is based on the random oracle model and the decision Diffie-Hellman assumption.The scheme can be easily extended to multi-trustees and multi-banks using threshold cryptography.

  14. 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.

  15. 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.

  16. Comfort and patient-centred care without excessive sedation: the eCASH concept.

    Science.gov (United States)

    Vincent, Jean-Louis; Shehabi, Yahya; Walsh, Timothy S; Pandharipande, Pratik P; Ball, Jonathan A; Spronk, Peter; Longrois, Dan; Strøm, Thomas; Conti, Giorgio; Funk, Georg-Christian; Badenes, Rafael; Mantz, Jean; Spies, Claudia; Takala, Jukka

    2016-06-01

    We propose an integrated and adaptable approach to improve patient care and clinical outcomes through analgesia and light sedation, initiated early during an episode of critical illness and as a priority of care. This strategy, which may be regarded as an evolution of the Pain, Agitation and Delirium guidelines, is conveyed in the mnemonic eCASH-early Comfort using Analgesia, minimal Sedatives and maximal Humane care. eCASH aims to establish optimal patient comfort with minimal sedation as the default presumption for intensive care unit (ICU) patients in the absence of recognised medical requirements for deeper sedation. Effective pain relief is the first priority for implementation of eCASH: we advocate flexible multimodal analgesia designed to minimise use of opioids. Sedation is secondary to pain relief and where possible should be based on agents that can be titrated to a prespecified target level that is subject to regular review and adjustment; routine use of benzodiazepines should be minimised. From the outset, the objective of sedation strategy is to eliminate the use of sedatives at the earliest medically justifiable opportunity. Effective analgesia and minimal sedation contribute to the larger aims of eCASH by facilitating promotion of sleep, early mobilization strategies and improved communication of patients with staff and relatives, all of which may be expected to assist rehabilitation and avoid isolation, confusion and possible long-term psychological complications of an ICU stay. eCASH represents a new paradigm for patient-centred care in the ICU. Some organizational challenges to the implementation of eCASH are identified. PMID:27075762

  17. PENGARUH FREE CASH FLOW DAN STRUKTUR KEMPEMILIKAN TERHADAP DIVIDEND PAYOUT RATIO

    Directory of Open Access Journals (Sweden)

    Jurica Lucyanda

    2012-12-01

    Full Text Available Penelitian ini bertujuan menguji bagaimana free cash flow dan struktur kepemilikan berpengaruh terhadap dividend payout ratio pada perusahaan nonkeuangan yang terdaftar pada Bursa Efek Indonesia. Metode analisis yang digunakan adalah regresi berganda. Penelitian ini menggunakan data empiris dari Bursa Efek Indonesia dengan sampel sebanyak 70 perusahaan per tahun untuk tiga periode (2007-2009. Berdasarkan hasil pengujian, ditemukan bahwa variabel yang mempunyai pengaruh yang signifikan terhadap pembagian dividen adalah free cash flow, kepemilikan institusional, dan ukuran perusahaan. Jumlah free cash flow perusahaan yang tinggi, persentase kepemilikan institusional yang rendah, dan ukuran perusahaan yang besar akan menghasilkan dividend payout ratio yang tinggi. Variabel kepemilikan keluarga, kepemilikan asing, kebijakan utang, dan kesempatan investasi tidak terbukti mempunyai pengaruh yang signifikan terhadap Dividend Payout Ratio perusahaan.This study aims at testing the effect of free cash flow and ownership structure on the dividend payout ratio of non-financial companies, listed on the Indonesia Stock Exchange. Multiple regression was employed to analyze data. The study collected empirical data from the Indonesia Stock Exchange consisting of 70 companies. The data were collected from financial report from three consecutive years (2007-2009. The finding indicates that the variables which have a significant effect on the dividend payout ratio are free cash flow, institutional ownership, and firm size. The high free cash flow,  the low percentage of institutional ownership, and the large size companies will produce high dividends. The variable of family ownership, foreign ownership, debt policy, and investment opportunities do not significantly effect corporate dividend payout ratio.

  18. The Changing Landscape for Retail Payments in Canada and the Implications for the Demand for Cash

    OpenAIRE

    Carlos Arango; Kim Huynh; Ben Fung; Gerald Stuber

    2012-01-01

    Over the past 20 years, there has been a major shift away from the use of paper-based retail payment instruments, such as cash and cheques, toward electronic means of payment, such as debit cards and credit cards. Recent Bank of Canada research on consumers’ choice of payment instruments indicates that cash is frequently used for transactions with low values because of its speed, ease of use and wide acceptance, while debit and credit cards are more commonly used for transactions with higher ...

  19. Price and Volume Reactions to Cash Dividend Announcements: Evidence from Taiwan

    OpenAIRE

    Jack J. W. Yang; Tsung-Shin Wu

    2014-01-01

    Are stock market investors concerned with obtaining abnormal returns by acquiring certain information? This paper studied the effect of ex-dividend date for cash-dividend policy. We try to demonstrate the existence of abnormal returns by examining stock trading situations before and after the ex-dividend date. We find that abnormal returns exist for listed Taiwan firms before and after the ex-dividend date. If an investor buys the stock of a firm who adopts a cash-dividend payout at the closi...

  20. Geothermal loan guaranty cash flow model: description and users' manual

    Energy Technology Data Exchange (ETDEWEB)

    Keimig, M.A.; Rosenberg, J.I.; Entingh, D.J.

    1980-11-01

    This is the users guide for the Geothermal Loan Guaranty Cash Flow Model (GCFM). GCFM is a Fortran code which designs and costs geothermal fields and electric power plants. It contains a financial analysis module which performs life cycle costing analysis taking into account various types of taxes, costs and financial structures. The financial module includes a discounted cash flow feature which calculates a levelized breakeven price for each run. The user's guide contains descriptions of the data requirements and instructions for using the model.

  1. Integrating The Abc Method Of Costs Calculation And Cash Value Added

    OpenAIRE

    Marius Sorin DINCA; Gheorghita DINCA

    2010-01-01

    In our paper we intend to explore the possibility of integrating the ABC method of cost calcula-tion with cash based value measure, i.e. the Cash Value Added. Our purpose is to develop an instrument for the management of productive companies that will allow them to administrate the proc-ess of value creation at the level of individual products or services. The activity based costing (ABC) method of cost calculation can be extended to the way of allo-cating the capital costs to individual prod...

  2. Creating a cash flow analysis tool for private long-term real estate investment

    OpenAIRE

    Leponen, Meri

    2015-01-01

    This study looks at the profitability through cash flow analysis of long-term real estate investment from the private investor’s perspective. The focus of the project is on annual cash flow and refurbishment costs during a 20-year outlook period. The scope of the project is defined together with the commissioning private investor who has invested in apartments since 2011 and wants to discover whether the time, effort, and money used in the investments have been worthwhile and if the outlook o...

  3. Who Bears Firm-Level Risk? Implications for Cash Flow Volatility

    OpenAIRE

    Xiaolan Zhang

    2014-01-01

    Public firms in the United States that provide better insurance against productivity shocks to their workers experience higher cash flow volatility. Difference in intra-firm risk sharing between workers and capital owners accounts for more than 50\\% of the variation in firm-level cash flow volatility. I develop a theory in which wages can act either as a hedge or as leverage, depending on the history of the productivity shocks the firm has faced. Heterogeneous roles of workers in the firm are...

  4. PERFORMANCE ASSESSMENT OF MAJOR U.S. AIRLINES VIA CASH FLOW RATIOS

    OpenAIRE

    Stepanyan Armen

    2013-01-01

    The paper addresses the assessment of major U.S. airlinesâ€(tm) liquidity and solvency based on information disclosed in the statements of cash flows as part of their 10-K Form annual reports filed with the Securities and Exchange Commission. Conducting financial statement analysis for major U.S. airlines has generated deep interest in and a significant importance towards using various frequently used cash flow ratios to gauge U.S. airlinesâ€(tm) viability both in the short term and long term...

  5. Mexican medfly programme

    International Nuclear Information System (INIS)

    This film tells the story of the fight against and final extinction of the Mediterranean fruit-fly (Ceratitis capitata) in Mexico. By producing billions of high quality sterile flies in the Medfly reproduction and sterilization laboratory in the province of Chiapas and releasing them over infested areas, the Moscamed Programme succeeded in eradicating this pest from Mexico in 1982

  6. Kulturalistische Unternehmensethik : ein Programm

    OpenAIRE

    Hanekamp, Gerd

    2001-01-01

    "Das Programm einer kulturalistischen Unternehmensethik wird vorgestellt. Es gründet auf einem philosophischen Ansatz, der sich als instrumentalistisch, kontextualistisch, transsubjektivistisch und individualistisch charakterisieren lässt. Hinsichtlich der ethischen Grundlagen werden starke Thesen durch den Rekurs auf eine kontextualistisch-normative Anthropologie vermieden." (Autorenreferat)

  7. Air Quality Monitoring Programme

    DEFF Research Database (Denmark)

    Kemp, K.; Palmgren, F.

    The Danish Air Quality Monitoring Programme (LMP IV) has been revised in accordance with the Framework Directive and the first three daughter directives of SO2, NOx/NO2, PM10, lead, benzene, CO and ozone. PM10 samplers are under installation and the installation will be completed during 2002...

  8. En model for programmer

    DEFF Research Database (Denmark)

    Christensen, Henrik Bærbak

    Dette undervisningsmateriale beskriver en model for, hvordan programmer er opbygget. Materialet er skrevet til brug i det gymnasiale forsøgsfag Informationsteknologi. Seneste version af dette undervisningsmateriale kan findes på http:// www.imhotep.dk. Tak til Elisabeth Husum for en kritisk...

  9. SET-Routes programme

    CERN Multimedia

    Marietta Schupp, EMBL Photolab

    2008-01-01

    Dr Sabine Hentze, specialist in human genetics, giving an Insight Lecture entitled "Human Genetics – Diagnostics, Indications and Ethical Issues" on 23 September 2008 at EMBL Heidelberg. Activities in a achool in Budapest during a visit of Angela Bekesi, Ambassadors for the SET-Routes programme.

  10. Turkey's Basic Education Programme

    OpenAIRE

    A. Remzi Sezgin

    2000-01-01

    In August 1997, the Government of Turkey greatly increased its efforts to implement eight-year obligatory education, through parliamentary approval of Law No. 4306 for Basic Education. The law mobilises significant resources for a major investment in school facilities through earmarked taxes, establishes a timetable for the Basic Education Programme and streamlines procedures to allow for swift action and implementation.

  11. Fast reactor programme

    International Nuclear Information System (INIS)

    This progress report summarises the fast reactor research carried out at the Netherlands Energy Research Centre during the year 1981. The neutron and fission product cross sections of various isotopes have been evaluated. In the fuel performance programme, some preliminary results are given and irradiation facilities described. Creep experiments on various stainless steel components are reported

  12. Fusion technology programme

    International Nuclear Information System (INIS)

    KfK is involved in the European Fusion Programme predominantly in the NET and Fusion Technology part. The following fields of activity are covered: Studies for NET, alternative confinement concepts, and needs and issues of integral testing. Research on structural materials. Development of superconducting magnets. Gyrotron development (part of the Physics Programme). Nuclear technology (breeding materials, blanket design, tritium technology, safety and environmental aspects of fusion, remote maintenance). Reported here are status and results of work under contracts with the CEC within the NET and Technology Programme. The aim of the major part of this R and D work is the support of NET, some areas (e.g. materials, safety and environmental impact, blanket design) have a wider scope and address problems of a demonstration reactor. In the current working period, several new proposals have been elaborated to be implemented into the 85/89 Euratom Fusion Programme. New KfK contributions relate to materials research (dual beam and fast reactor irradiations, ferritic steels), to blanket engineering (MHD-effects) and to safety studies (e.g. magnet safety). (orig./GG)

  13. The Productive Programmer

    CERN Document Server

    Ford, Neal

    2009-01-01

    Anyone who develops software for a living needs a proven way to produce it better, faster, and cheaper. The Productive Programmer offers critical timesaving and productivity tools that you can adopt right away, no matter what platform you use. Master developer Neal Ford details ten valuable practices that will help you elude common traps, improve your code, and become more valuable to your team.

  14. The European Programme Manager

    DEFF Research Database (Denmark)

    Larson, Anne; Bergman, E.; Ehlers, S.;

    The publication is a result of a cooperation between organisations in six European countries with the aim to develop a common European education for programme managers. It contains of a description of the different elements of the education together with a number of case-studies from the counties...... involved in the cooperation (Finland, Denmark, Portugal, Iceland, United Kingdom and Austria)....

  15. Brochure on Programme of Action for Cancer Therapy (PACT): Building partnerships to stop the global cancer epidemic. Grant raising prospectus

    International Nuclear Information System (INIS)

    The Programme of Action for Cancer Therapy (PACT) was created within the IAEA in 2004. PACT builds upon IAEA's extensive experience in cancer therapy and was designed to strengthen the links between technology transfer for radiotherapy and national capacity building in cancer prevention and control. While the IAEA continues to focus on technology transfer in radiotherapy and nuclear medicine, PACT is aimed at integrating radiotherapy into the broader cancer prevention and control framework. This includes cancer prevention, early detection, treatment and palliative care as well as broader challenges such as capacity building in infrastructure development and surveillance (including cancer registries). Only through collaboration with a broad range of stakeholders in cancer prevention and control will low and middle income countries be able to build effective programmes that reduce avoidable cancers and cancer in its later stages, and therefore improve survival and quality of life for cancer patients. PACT is therefore building partnerships with leading cancer organizations worldwide. Each organization is making a significant contribution in their respective areas of expertise within the broader cancer control framework. Outreach to more international organizations continues. Together with these other agencies, PACT seeks to comprehensively support cancer control needs in low and middle income countries over the next 10 to 20 years and beyond. PACT is seeking to accelerate widespread and sustained access to all essential cancer care services, and make cancer therapy more effective. Such an approach is widely acknowledged to be the only viable way to attract major donors (including development banks, international health philanthropies and other charities) either directly or through the IAEA. Partnering with other organizations also raises, or in many cases, establishes the IAEA's profile within the international public health arena. To lay the groundwork for

  16. 26 CFR 31.3121(i)-1 - Computation to nearest dollar of cash remuneration for domestic service.

    Science.gov (United States)

    2010-04-01

    ... 26 CFR part 31 contained in the edition of 26 CFR parts 30 to 39, revised as of April 1, 2006). ... 26 Internal Revenue 15 2010-04-01 2010-04-01 false Computation to nearest dollar of cash... Revenue Code of 1954) General Provisions § 31.3121(i)-1 Computation to nearest dollar of cash...

  17. 77 FR 67399 - State Street Corporation, Putnam Cash Reconciliations Team, Including On-Site Leased Workers From...

    Science.gov (United States)

    2012-11-09

    ... Employment and Training Administration State Street Corporation, Putnam Cash Reconciliations Team, Including..., applicable to workers and former workers of State Street Corporation, Putnam Cash Reconciliation Team, Quincy..., doing business as (D/B/A) ZeroChaos, were employed on-site at State Street Corporation, Putnam...

  18. 78 FR 63974 - Student Assistance General Provisions-Subpart K-Cash Management; Extension of Public Comment...

    Science.gov (United States)

    2013-10-25

    ... Student Assistance General Provisions--Subpart K--Cash Management; Extension of Public Comment Period..., ``Student Assistance General Provisions--Subpart K--Cash Management''. ED is extending the comment period to... Management Services, Office of Management, hereby issues a correction notice as required by the...

  19. Do Annual Stock Price Effects of Extreme Cash Dividend Pay-Out Events Differ from Their Short Term Effects?

    NARCIS (Netherlands)

    von Eije, Johan; Muckley, Cal

    2015-01-01

    In this paper, we assess the long-term stock price impact of 1327 cash dividend payment initiations and 1156 cash dividend payment omissions of firms listed on the NYSE and the NASDAQ, from 1972 to 2012. In particular we compare the annual returns of dividend initiating and omitting firms and firms

  20. ADS National Programmes: China

    International Nuclear Information System (INIS)

    In China the conceptual study of an ADS concept which lasted for about five years ended in 1999. As one project of the National Basic Research Programme of China (973 Programme) in energy domain, which is sponsored by the China Ministry of Science and Technology (MOST), a five year programme of fundamental research of ADS physics and related technology was launched in 2000 and passed national review at the end of 2005. From 2007, another five year 973 Programme Key Technology Research of Accelerator Driven Subcritical System for Nuclear waste Transmutation started. The research activities were focused on HPPA physics and technology, reactor physics of external source driven subcritical assembly, nuclear data base and material study. For HPPA, a high current injector consisting of an ECR ion source, LEBT and an RFQ accelerating structure of 3.5 MeV has been built and were being improved. In reactor physics study, a series of neutron multiplication experimental study has been carrying out. The VENUS I facility has been constructed as the basic experimental platform for neutronics study in ADS blanket. VENUS I a zero power subcritical neutron multiplying assembly driven by external neutron produced by a pulsed neutron generator or 252Cf neutron source. The theoretical, experimental and simulation studies on nuclear data, material properties and nuclear fuel circulation related to ADS are carried out in order to provide the database for ADS system analysis. China Institute of Atomic Energy (CIAE), Institute of High Energy Physics (IHEP) and other Chinese institutes carried out the MOST project together. Besides CIAE, China Academy of Science (CAS) pays more and more attention to Advanced Nuclear Fuel Cycles (ANFC). A large programme of ANFC, including ADS and Th based nuclear fuel cycle, has been launched by CAS

  1. APROACHING THE ECONOMIC DIMENSION OF SUSTAINABLE DEVELOPMENT FROM A FINANCIAL PERSPECTIVE: A CASE STUDY REGARDING CASH - FLOW ANALYSIS AND THE RELATIONSIPS BETWEEN CASH - FLOW AND NET INCOME

    Directory of Open Access Journals (Sweden)

    Diana Elena Vasiu

    2014-10-01

    Full Text Available Europe 2020, a strategy for smart, sustainable and inclusive growth stresses the necessity of smart, sustainable and inclusive growth. The objectives of a sustainable economic development include sustaining economic growth, maximizing private profits and expanding markets. Considering this, economic development must based on facts, not on papers. Therefore, considering the economic dimension of sustainable development, it is important to establish if Romanian companies listed and traded on Bucharest Stock Exchange are able to obtain profit while cash is withdrawn. Even if reported in the income statement, net profit is not simultaneously charged due to accrual accounting that makes the balance sheet provide a static picture of the financial position, while the cash flow statement provides a dynamic picture of it. Therefore, the financial performance analysis based on classical indicators of performance must be accompanied by the analysis of treasury, namely of the cash flow, which provides a comprehensive assessment possibility of the financial performance, flexibility and adaptability of the economic entity, in the context of a highly competitive and often unstable environment. A positive net flows is a confirmation of the economic success of the company representing the concrete expression of the net profit and other pecuniary accumulations, interpreted as the real self-financing investment capacity, which would lead to the real asset growth and thus to the increase of the owners' wealth.

  2. 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 specific...

  3. State and socio-demographic group variation in out-of-pocket expenditure, borrowings and Janani Suraksha Yojana (JSY programme use for birth deliveries in India

    Directory of Open Access Journals (Sweden)

    Modugu Hanimi Reddy

    2012-12-01

    Full Text Available Abstract Background High out-of-pocket-expenditure (OOPE deters families from seeking skilled/institutional care. ‘Janani Suraksha Yojana (JSY, a conditional cash transfer programme launched in 2005 to mitigate OOPE and to promote institutional deliveries among the poor, is part of Government of India’s efforts to achieve Millennium Development Goals (MDGs 4 and 5. The objective of this study is to estimate variations in OOPE for normal/caesarean-section deliveries, JSY-programme use and delivery associated borrowings - by states and union territories, and socio-demographic profiling of families, in India. Methods Secondary analysis of data from the District Level Household Survey (DLHS-3, 2007–08. Mean and median OOPE, percentage use of JSY and percentage of families needing to borrow money to pay for delivery associated expenditure was estimated for institutional and home deliveries. Results Half (52% of all deliveries in India occurred at home in 2007/08. OOPE for women having institutional deliveries remained high, with considerable variation between states and union territories. Mean OOPE (SD of a normal delivery in public and private institution respectively in India were Rs. 1,624 and Rs. 4,458 and for a caesarean-section it was Rs. 5,935 and Rs. 14,276 respectively. There was considerable state-level variation in use of the JSY programme for normal deliveries (15% nationally; ranging from 0% in Goa to 43% in Madhya Pradesh and the percentage of families having to borrow money to pay for a caesarean-section in a private institution (47% nationally; ranging from 7% in Goa to 69% in Bihar. Increased literacy and wealth were associated with a higher likelihood of an institutional delivery, higher OOPE but no major variations in use of the JSY. Conclusions Our study highlights the ongoing high OOPE and impoverishing impact of institutional care for deliveries in India. Supporting families in financial planning for maternity care

  4. Mammographic screening programmes in Europe

    DEFF Research Database (Denmark)

    Giordano, Livia; von Karsa, Lawrence; Tomatis, Mariano; Majek, Ondrej; de Wolf, Chris; Lancucki, Lesz; Hofvind, Solveig; Nyström, Lennarth; Segnan, Nereo; Ponti, Antonio; Van Hal, G; Martens, P; Májek, O; Danes, J; von Euler-Chelpin, My Catarina; Aasmaa, A; Anttila, A; Becker, N; Péntek, Z; Budai, A; Mádai, S; Fitzpatrick, P; Mooney, T; Zappa, M; Ventura, L; Scharpantgen, A; Hofvind, S; Seroczynski, P; Morais, A; Rodrigues, V; Bento, M J; Gomes de Carvalho, J; Natal, C; Prieto, M; Sánchez-Contador Escudero, C; Zubizarreta Alberti, R; Fernández Llanes, S B; Ascunce, N; Ederra Sanza, M; Sarriugarte Irigoien, G; Salas Trejo, D; Ibáñez Cabanell, J; Wiege, M; Ohlsson, G; Törnberg, S; Korzeniewska, M; de Wolf, C; Fracheboud, J; Patnick J, J; Lancucki, L; Ducarroz, S; Suonio, E

    To summarize participation and coverage rates in population mammographic screening programmes for breast cancer in Europe.......To summarize participation and coverage rates in population mammographic screening programmes for breast cancer in Europe....

  5. Jak lze využít údaje z výkazu Cash flow v řízení firmy

    OpenAIRE

    Bradáčová, Lenka

    2010-01-01

    This bachelor's thesis deals with analysis of the cash flow statement. The aim is to analyze the cash flow statement of Rybářství Velké Meziříčí, a. s. for the three past financial years and apply the investment evaluation methods to the specific investment of the company. Then the cash flow is used in certain indicators and business is evaluated by one of the methods using cash flow.

  6. Donor transplant programme

    International Nuclear Information System (INIS)

    The transplantation of organs and tissues from one human to another human has become an essential and well established form of therapy for many types of organ and tissue failure. In Malaysia, kidney, cornea and bone marrow transplantation are well established. Recently, liver, bone and heart transplanation have been performed. Unfortunately, because of the lack of cadaveric organ donation, only a limited number of solid organ transplantation have been performed. The cadaveric organ donor rate in Malaysia is low at less than one per million population. The first tissue transplanted in Malaysia was the cornea which was performed in the early 1970s. At that time and even now the majority of corneas came from Sri Lanka. The first kidney transplant was performed in 1975 from a live related donor. The majority of the 629 kidney transplants done at Hospital Kuala Lumpur to date have been from live related donors. Only 35 were from cadaver donors. Similarly, the liver transplantation programme which started in 1995 are from live related donors. A more concerted effort has been made recently to increase the awareness of the public and the health professionals on organ and tissue donation. This national effort to promote organ and tissue donation seems to have gathered momentum in 1997 with the first heart transplant successfully performed at the National Heart Institute. The rate of cadaveric donors has also increased from a previous average of I to 2 per year to 6 per year in the last one year. These developments are most encouraging and may signal the coming of age of our transplantati on programme. The Ministry of Health in conjunction with various institutions, organizations and professional groups, have taken a number of proactive measures to facilitate the development of the cadaveric organ donation programme. Efforts to increase public awareness and to overcome the negative cultural attitude towards organ donation have been intensified. Equally important are efforts

  7. What promotes sustainability in Safe Community programmes?

    Directory of Open Access Journals (Sweden)

    Lindqvist Kent

    2009-01-01

    . Increased relational resources facilitated the transfer of information. A regular flow of information to policy-makers, residents, and staff was needed in order to integrate safety programmes into routines. Adopting a bottom-up approach requires that informal and ad hoc activities in information management be replaced by formalized, organizationally sanctioned routines. In contrast to injury prevention, which focuses on technical solutions, safety promotion tries to influence attitudes. Collaboration with the media was an area that could be improved.

  8. The INTEGRAL Core Observing Programme

    DEFF Research Database (Denmark)

    Winkler, C.; Gehrels, N.; Lund, Niels; Schonfelder, V.; Ubertini, P.

    The Core Programme of the INTEGRAL mission is defined as the portion of the scientific programme covering the guaranteed time observations for the INTEGRAL Science Working Team. This paper describes the current status of the Core Programme preparations and summarizes the key elements of the...

  9. 77 FR 72219 - Federal Housing Administration: Prohibited Sources of Minimum Cash Investment Under the National...

    Science.gov (United States)

    2012-12-05

    ... U.S. 687 (1995); Gade v. Nat'l Solid Waste Management Ass'n, 505 U.S. 88, 100-01 (1992). Second, the... URBAN DEVELOPMENT 24 CFR Part 203 Federal Housing Administration: Prohibited Sources of Minimum Cash..., Office of General Counsel, Department of Housing and Urban Development, 451 7th Street SW., Room...

  10. 41 CFR 301-51.101 - Which payment methods are considered the equivalent of cash?

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 4 2010-07-01 2010-07-01 false Which payment methods... Carrier Transportation § 301-51.101 Which payment methods are considered the equivalent of cash? Use of one of the following payment methods of this section to procure common carrier transportation...

  11. Stock Return and Cash Flow Predictability: The Role of Volatility Risk

    DEFF Research Database (Denmark)

    Bollerslev, Tim; Xu, Lai; Zhou, Hao

    We examine the joint predictability of return and cash flow within a present value framework, by imposing the implications from a long-run risk model that allow for both time-varying volatility and volatility uncertainty. We provide new evidence that the expected return variation and the variance...

  12. 76 FR 2712 - Sara Lee Corporation, Master Data, Cash Applications, Deductions, Collections, Call Center...

    Science.gov (United States)

    2011-01-14

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF LABOR Employment and Training Administration Sara Lee Corporation, Master Data, Cash Applications, Deductions, Collections, Call Center, Information Technology, Accounts Payable, General Accounts, Financial Accounts, Payroll, and Employee Master Data...

  13. Fusion technology programme

    International Nuclear Information System (INIS)

    The KfK-Association has continued work on 17 R and D contracts of the Fusion Technology Programme. An effort of 94 manyears per year is at present contributed by 10 KfK departments, covering all aereas defined in the Fusion Technology Programme. The dominant part of the work is directed towards the need of the NET design or supporting experiments. Some additional effort addresses long term technological issues and system studies relevant to DEMO or confinement schemes alternative to tokamaks. Direct contribution to the NET team has increased by augmentation of NET study contracts and delegation of personnel, three KfK delegates being at present members of the NET team. In reverse, specifications and design guidelines worked out by NET have started to have an impact on the current R and D-work in the laboratory. (orig./GG)

  14. Bioergia Research Programme

    Energy Technology Data Exchange (ETDEWEB)

    Asplund, D.

    1997-12-31

    The main objectives of Finland`s Bioenergia Research Programme are (1) To develop new methods of producing biofuels which can compete with imported fuels, demonstrating the most promising production methods through pilot schemes, (2) To develop and demonstrate 3 - 4 new pieces of equipment or methods connected with handling and using bioenergy, (3) To produce basic information on conversion techniques and evaluate the quality, usability and environmental impacts of the products as well as the overall economy of the entire production chain and to create 2-3 conversion methods for follow-up development by industry. The principle research areas are (1) Development of production technology for wood-derived fuels, (2) Peat production, (3) The use of bioenergy and (4) Biomass conversion. This conference paper discusses the results obtained so far and reviews in some detail the activities of the programme. 3 figs., 3 tabs.

  15. Bioergia Research Programme

    International Nuclear Information System (INIS)

    The main objectives of Finland's Bioenergia Research Programme are (1) To develop new methods of producing biofuels which can compete with imported fuels, demonstrating the most promising production methods through pilot schemes, (2) To develop and demonstrate 3 - 4 new pieces of equipment or methods connected with handling and using bioenergy, (3) To produce basic information on conversion techniques and evaluate the quality, usability and environmental impacts of the products as well as the overall economy of the entire production chain and to create 2-3 conversion methods for follow-up development by industry. The principle research areas are (1) Development of production technology for wood-derived fuels, (2) Peat production, (3) The use of bioenergy and (4) Biomass conversion. This conference paper discusses the results obtained so far and reviews in some detail the activities of the programme. 3 figs., 3 tabs

  16. Pharmacovigilance programme of India

    Directory of Open Access Journals (Sweden)

    Kalaiselvan Vivekanandan

    2012-01-01

    Full Text Available The monitoring and reporting of adverse drug reactions (ADRs through pharmacovigilance is vital to patient safety and rational prescribing. In India, Central Drugs Standard Control Organization (CDSCO initiated Pharmacovigilance Programme of India (PvPI to report ADRs through ADRs monitoring centres in India. Indian Pharmacopoeia Commission (IPC is functioning as National Coordination Centre (NCC for PvPI. The ADRs are reported to NCC through VigiFlow by various centres are evaluated and committed to Uppsala Monitoring Centre, Sweden. The potential benefit of the PvPI is aimed to reducing or eliminating a harm of medicine. Continuous efforts of the healthcare professionals and the patients are expected to make this as one of the most successful and effective programmes. The present article updates the status and future plan of PvPI.

  17. The effects of national cash awards for science teaching on recipients and their peers

    Science.gov (United States)

    Weld, Jeffrey Donn

    Cash teaching awards available to science teachers in the U.S. have goals to improve science teaching. This study assessed the effectiveness of five national cash award programs at identifying exemplars and inspiring better science teaching. Award winning secondary science teachers provided their perceptions of the effects of an award on their own teaching and on the profession as a whole. Randomly selected secondary science teachers across the U.S. reported their perceptions of the effects of the existence of awards on their own teaching and on the profession. Program directors for the five national cash awards were interviewed to determine the intentions and strategies of their award programs. The criteria that guide the selection of award winners were found to align with research-supported exemplar characteristics, but the methods used for identifying outstanding teachers were found to be inadequate for that purpose. Award winning science teachers perceive awards to result from, rather than to inspire, good teaching. Their motivation derives from student achievement and a job well done. The valued effects of winning an award are the recognition and increased respect that follow. Award winners perceive awards as difficult to win, minimally motivating, and frequently causing of dissension among peers. In most respects award winners perceive increased intrinsic rewards to accompany recognition through cash awards. Randomly selected U.S. science teachers who have not won cash awards perceive them as poor motivational incentives because too few awards exist, the basis for recognition is unclear, and the award itself is not a valued outcome. Most science teachers consider themselves good teachers and would apply for an award despite doubts that they would win. Direct comparisons reveal that winners and nonwinners have widely divergent opinions of awards. Winners of lesser cash amounts have the same perceptions of awards as winners of greater cash amounts. Effective

  18. Programme budget 1981

    International Nuclear Information System (INIS)

    There are 11 main fields of KfK R + D activities which are connected with one or more of the research goals of a) assurance of nuclear fuel supply, b) nuclear waste management, c) safety of nuclear facilities, d) basic research and research on new technologies. The scientific and technical tasks connected with these goals in 1981 and on a medium-term basis as well as the financial requirements are presented in the programme budget. (orig.)

  19. The Italian hydrogen programme

    International Nuclear Information System (INIS)

    Hydrogen could become an important option in the new millennium. It provides the potential for a sustainable energy system as it can be used to meet most energy needs without harming the environment. In fact, hydrogen has the potential for contributing to the reduction of climate-changing emissions and other air pollutants as it exhibits clean combustion with no carbon or sulphur oxide emissions and very low nitrogen oxide emissions. Furthermore, it is capable of direct conversion to electricity in systems such as fuel cells without generating pollution. However, widespread use of hydrogen is not feasible today because of economic and technological barriers. In Italy, there is an ongoing national programme to facilitate the introduction of hydrogen as an energy carrier. This programme aims to promote, in an organic frame, a series of actions regarding the whole hydrogen cycle. It foresees the development of technologies in the areas of production, storage, transport and utilisation. Research addresses the development of technologies for separation and sequestration of CO2, The programme is shared by public organisations (research institutions and universities) and national industry (oil companies, electric and gas utilities and research institutions). Hydrogen can be used as a fuel, with significant advantages, both for electric energy generation/ co-generation (thermo-dynamic cycles and fuel cells) and transportation (internal combustion engine and fuel cells). One focus of research will be the development of fuel cell technologies. Fuel cells possess all necessary characteristics to be a key technology in a future economy based on hydrogen. During the initial phase of the project, hydrogen will be derived from fossil sources (natural gas), and in the second phase it will be generated from renewable electricity or nuclear energy. The presentation will provide a review of the hydrogen programme and highlight future goals. (author)

  20. Multilateral Interoperability Programme

    OpenAIRE

    Burita, L.

    2009-01-01

    The Multilateral Interoperability Programme (MIP) is a voluntary and independent activity in NATO environment by the participating nations and organizations. The MIP concept is based on data exchange in form of common exchange data model to achieve the international interoperability in command and control information systems (C2IS) of the tactical units. The article describes the basis of the MIP organizations, structure, planning and testing processes. The core of the MIP solution is the Inf...

  1. Neural Programmer-Interpreters

    OpenAIRE

    Reed, Scott; De Freitas, Nando

    2015-01-01

    We propose the neural programmer-interpreter (NPI): a recurrent and compositional neural network that learns to represent and execute programs. NPI has three learnable components: a task-agnostic recurrent core, a persistent key-value program memory, and domain-specific encoders that enable a single NPI to operate in multiple perceptually diverse environments with distinct affordances. By learning to compose lower-level programs to express higher-level programs, NPI reduces sample complexity ...

  2. The Mathematica programmer

    CERN Document Server

    Maeder, Roman E

    1994-01-01

    The Mathematica Programmer covers the fundamental programming paradigms and applications of programming languages. This book is organized into two parts encompassing 10 chapters. Part 1 begins with an overview of the programming paradigms. This part also treats abstract data types, polymorphism and message passing, object-oriented programming, and relational databases. Part 2 looks into the practical aspects of programming languages, including in lists and power series, fractal curves, and minimal surfaces.This book will prove useful to mathematicians and computer scientists.

  3. ADS National Programmes: Italy

    International Nuclear Information System (INIS)

    Following a preliminary design developed in 1998, based on the Energy Amplifier concept proposed by CERN, a first configuration of a lead-bismuth Eutectic cooled Experimental ADS (LBE-XADS) was worked out in the period 1999–2001, under the aegis of MURST, by a group of Italian organizations led by Ansado Nucleare, with the aim of assessing the feasibility of a small sized (80 MWth) ADS. At the end of 1997 a joint effort of ENEA (National Agency for New Technology, Energy and the Environment) and INFN (National Institute for Nuclear Physics) led to the approval of a national programme by MURST (Minister for University and Scientific and Technological Research) named TRASCO (TRAsmutazione SCOrie) aiming at the study of physics and technologies needed to design an ADS for radioactive waste transmutation. The programme consisted of research subprogrammes on accelerator, neutronics, thermalhydraulics analysis, beam window technology, and material technology and compatibility with Pb and Pb-Bi. At now, most of the activities in support to the ADS development carried out at national level are part of EU-funded Projects. These activities are complemented by the programme agreement (AdP -Accordo di programma), signed between ENEA and the Ministry of Economic Development, which provides in general a range of activities aimed at the development of sustainable nuclear fission systems. Several universities and the national industry are involved, besides ENEA, in the activities

  4. Programmable matter by folding

    Science.gov (United States)

    Hawkes, E.; An, B.; Benbernou, N. M.; Tanaka, H.; Kim, S.; Demaine, E. D.; Rus, D.; Wood, R. J.

    2010-01-01

    Programmable matter is a material whose properties can be programmed to achieve specific shapes or stiffnesses upon command. This concept requires constituent elements to interact and rearrange intelligently in order to meet the goal. This paper considers achieving programmable sheets that can form themselves in different shapes autonomously by folding. Past approaches to creating transforming machines have been limited by the small feature sizes, the large number of components, and the associated complexity of communication among the units. We seek to mitigate these difficulties through the unique concept of self-folding origami with universal crease patterns. This approach exploits a single sheet composed of interconnected triangular sections. The sheet is able to fold into a set of predetermined shapes using embedded actuation. To implement this self-folding origami concept, we have developed a scalable end-to-end planning and fabrication process. Given a set of desired objects, the system computes an optimized design for a single sheet and multiple controllers to achieve each of the desired objects. The material, called programmable matter by folding, is an example of a system capable of achieving multiple shapes for multiple functions. PMID:20616049

  5. Programmable Quantitative DNA Nanothermometers.

    Science.gov (United States)

    Gareau, David; Desrosiers, Arnaud; Vallée-Bélisle, Alexis

    2016-07-13

    Developing molecules, switches, probes or nanomaterials that are able to respond to specific temperature changes should prove of utility for several applications in nanotechnology. Here, we describe bioinspired strategies to design DNA thermoswitches with programmable linear response ranges that can provide either a precise ultrasensitive response over a desired, small temperature interval (±0.05 °C) or an extended linear response over a wide temperature range (e.g., from 25 to 90 °C). Using structural modifications or inexpensive DNA stabilizers, we show that we can tune the transition midpoints of DNA thermometers from 30 to 85 °C. Using multimeric switch architectures, we are able to create ultrasensitive thermometers that display large quantitative fluorescence gains within small temperature variation (e.g., > 700% over 10 °C). Using a combination of thermoswitches of different stabilities or a mix of stabilizers of various strengths, we can create extended thermometers that respond linearly up to 50 °C in temperature range. Here, we demonstrate the reversibility, robustness, and efficiency of these programmable DNA thermometers by monitoring temperature change inside individual wells during polymerase chain reactions. We discuss the potential applications of these programmable DNA thermoswitches in various nanotechnology fields including cell imaging, nanofluidics, nanomedecine, nanoelectronics, nanomaterial, and synthetic biology. PMID:27058370

  6. A new video programme

    CERN Multimedia

    CERN video productions

    2011-01-01

    "What's new @ CERN?", a new monthly video programme, will be broadcast on the Monday of every month on webcast.cern.ch. Aimed at the general public, the programme will cover the latest CERN news, with guests and explanatory features. Tune in on Monday 3 October at 4 pm (CET) to see the programme in English, and then at 4:20 pm (CET) for the French version.   var flash_video_player=get_video_player_path(); insert_player_for_external('Video/Public/Movies/2011/CERN-MOVIE-2011-129/CERN-MOVIE-2011-129-0753-kbps-640x360-25-fps-audio-64-kbps-44-kHz-stereo', 'mms://mediastream.cern.ch/MediaArchive/Video/Public/Movies/2011/CERN-MOVIE-2011-129/CERN-MOVIE-2011-129-Multirate-200-to-753-kbps-640x360-25-fps.wmv', 'false', 480, 360, 'https://mediastream.cern.ch/MediaArchive/Video/Public/Movies/2011/CERN-MOVIE-2011-129/CERN-MOVIE-2011-129-posterframe-640x360-at-10-percent.jpg', '1383406', true, 'Video/Public/Movies/2011/CERN-MOVIE-2011-129/CERN-MOVIE-2011-129-0600-kbps-maxH-360-25-fps-...

  7. Study of the transfer of tritium in cultivated vegetation in Mediterranean temperate regions. 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)

    The utilization for agricultural purposes of water from rivers in which tritium has been dumped, and possible food chain hazards has stimulated investigations by the Cadarache, Mol and Wageningen centres on the contamination rate of products harvested in the Mediterranean region and in temperate climates; transfer via water, forage, cattle, and milk products and any food chain contamination attributable to technology. In agriculture, experiments have been concerned with potatoes, sugar beet, carrots and peas, and with vine, olive and orange trees. Tritium retention time has been determined in various parts of the plant; also tritium incorporation in tissue water and organic matter; and the distribution of tritium in progressive layers of soil

  8. The Hawaii Fruit Fly Area-Wide Pest Management Programme: Influence of a good education and partnerships in a successful programme

    International Nuclear Information System (INIS)

    Full text: Introduction: In 1999, USDA-ARS launched the 'Hawaii Fruit Fly Area-Wide Pest Management (AWPM) Program' as a 5-yr programme to suppress fruit flies below economic thresholds while reducing the use of organophosphate insecticides. The programme involved developing and integrating biologically-based pest technologies into a comprehensive management package that will be economically viable, environmentally sensitive and sustainable. Technologies included: 1) field sanitation, 2) protein bait sprays and/or traps, 3) male annihilation with male lures and attractants, and if needed, 4) augmentative parasitoid releases and 5) sterile insect releases. Many of these technologies were developed by ARS in Hawaii; however, they had never been packaged and transferred to Hawaiian farmers. Education: A critical component of successful area-wide pest management (AWPM) programmes is an organised, coordinated and comprehensive outreach educational programme. The Hawaii area-wide fruit fly pest management (HAW-FLYPM) programme's educational programme, utilised the 'logic model' approach to organise, plan, execute and evaluate farmer and community educational programmes statewide. The logic model approach was an outcome-driven rather than activity-based method that employed a linear sequence that developed relationships between programme inputs, outputs and outcomes. This model was utilised extensively to transfer sustainable, science-based technologies to suppress tephritid fruit fly pests. HAW-FLYPM's educational programme targeted growers and community door yard growers, three teaching curricula aimed at elementary through high school students, and a statewide awareness programme for the public at large. Additional key components of the HAWFLYPM education programme was the development of implementation schedules used to track programme progress, a comprehensive media matrix developed to ensure educational materials met the needs of target audience groups, and a

  9. Classification of soil systems on the basis of transfer factors of radionuclides from soil to reference plants. Report of the final research coordination meeting organized by the Joint FAO/IAEA Programme of Nuclear Techniques in Food and Agriculture

    International Nuclear Information System (INIS)

    The IAEA Basic Safety Standards for Radiation Protection include the general requirement to keep all doses as low as reasonably achievable, taking account of economic and social considerations, within the overall constraint of individual dose limits. National and Regional authorities have to set release limits for radioactive effluent and also to establish contingency plans to deal with an uncontrolled release following an accident or terrorist activity. It is normal practice to assess radiation doses to man by means of radiological assessment models. In this context the IAEA published (1994), in cooperation with the International Union of Radioecologists (IUR), a Handbook of Parameter Values for the Prediction of Radionuclide Transfer in Temperate Environments to facilitate such calculations. The obvious limitation of the Handbook is that the data on soil-to-plant transfer of radionuclides are strictly relevant only to temperate climates. Therefore, the IAEA, together with the United Nations Food and Agriculture Organization and the IUR, conducted a coordinated research project (CRP), to obtain similar data in tropical and sub-tropical regions. A conclusion of this research was that some combinations of ecosystems and radionuclides do not behave as might be expected. A consultants meeting held in May 1998 produced a proposal for a CRP to address the issue of identifying such situations in temperate as well as tropical and sub-tropical conditions

  10. Outlook for the IAEA's technical co-operation programme

    International Nuclear Information System (INIS)

    This is a slide presentation dealing with the following subjects: - the IAEA's programmes; - the technical co-operation programme; - past trends in the TC programme; - new initiatives in TC; - TC programme profile; - perspectives for the future. The major programmes conducted by IAEA are concerning: - nuclear power and fuel cycle; - nuclear applications; - nuclear, radiation and waste safety, nuclear verification and security material; - management of technical co-operation; - policy making, coordination and support. In relation with the IAEA role in development process the author presents the legal framework for TC, the programme structure, and programme areas, resources, budgets, cycle, approval and implementation. Two plots regarding the recipients with and without NPP's are displayed for the period 1980-1994. Also, according to the status of the member states (without and with nuclear power programme) the programme priorities are presented. For the first case these are: radiation and waste safety, food and agriculture, water resources management human health and nutrition, human resources development, environmental protection and industrial applications. For the second case there are mentioned: radiation and nuclear safety, nuclear power operation and maintenance management, radioactive waste management, environment protection and sustainable energy options. Concerning the regional distribution the following figures are given for 1997: West Asia, 9%; Europe, 18%; Inter-regional, 11%; Africa, 24%; Latin America, 21%; East Asia and Pacific, 17%. In conclusion, the hope is expressed that the value of Technical Co-operation Programme would be seen not only in the successful transfer of technology but also, in the way that the nuclear technologies may satisfy demands for sustainable development by having a lasting impact on the life of the majority in a cost effective and environmentally sound manner

  11. Technology transfer for development

    International Nuclear Information System (INIS)

    The IAEA has developed a multifaceted approach to ensure that assistance to Member States results in assured technology transfer. Through advice and planning, the IAEA helps to assess the costs and benefits of a given technology, determine the basic requirements for its efficient use in conditions specific to the country, and prepare a plan for its introduction. This report describes in brief the Technical Co-operation Programmes

  12. UKAEA underlying research programme annual report

    International Nuclear Information System (INIS)

    Work from all technical areas of the Authority's underlying research programme is described. This is typically in the form of an interim progress report for the year April 1987 to March 1988. The seventeen chapters report research into radiation damage, fracture studies, chemical effects at surfaces, surface physics and corrosion, fluid mechanics and heat transfer, nuclear studies, neutron beam studies, theoretical sciences, instrumentation, reactor physics and control, fabrication processes, laser isotope separation, nuclear fuel cycle studies, quantum electronics, radiological protection, and miscellaneous underlying research. (author)

  13. Building the Cash Dividend Policy Identification Model for China’s Agricultural Listed Companies Based on 2007 to 2010 Data

    Institute of Scientific and Technical Information of China (English)

    WANG Lei

    2012-01-01

    The dual agency relation and lack of effective incentive and restraint mechanism make stock right structure of China’s listed companies special.This special stock right structure will inevitably exert direct and profound influence on formulation of cash dividend policies.Based on the 2007 to 2010 data of China’s agricultural listed companies and focusing on the stock right structure,this paper selected 6 indicators and the BP ANN to build the cash dividend policy identification model,in the hope of helping investors accurately predict influence of stock right structure on cash dividend policies,so as to reduce investment risk to some extent.

  14. Do Annual Stock Price Effects of Extreme Cash Dividend Pay-Out Events Differ from Their Short Term Effects?

    OpenAIRE

    von Eije, Johan; Muckley, Cal

    2015-01-01

    In this paper, we assess the long-term stock price impact of 1327 cash dividend payment initiations and 1156 cash dividend payment omissions of firms listed on the NYSE and the NASDAQ, from 1972 to 2012. In particular we compare the annual returns of dividend initiating and omitting firms and firms that are equally likely to initiate (or omit). We find larger price effects during the years of cash dividend initiation and omission than is measured by earlier short period event studies, but we ...

  15. CASINDO Programme Summary Report

    Energy Technology Data Exchange (ETDEWEB)

    Van der Linden, N.; Smekens, K.; Bole-Rentel, T.; Saidi, R. [Unit ECN Policy Studies, Energy research Centre of the Netherlands ECN, Petten (Netherlands); Wijnker, M. [Eindhoven University of Technology TUE, Eindhoven (Netherlands); Kamphuis, E. [ETC Netherlands, Leusden (Netherlands); Winarno, Oetomo Tri [Institute of Technology, Bandung (Indonesia); Permana, Iman [Technical Education Development Centre, Bandung (Indonesia)

    2012-06-15

    The overall objective of the CASINDO programme is to establish a self-sustaining and self-developing structure at both the national and regional level to build and strengthen human capacity to enable the provinces of North Sumatra, Yogyakarta, Central Java, West Nusa Tenggara and Papua to formulate sound policies for renewable energy and energy efficiency and to develop and implement sustainable energy projects. CASINDO stands for Capacity development and strenghtening for energy policy formulation adn implementation of sustainable energy projects in Indonesia.

  16. Accident prevention programme

    International Nuclear Information System (INIS)

    This study by the Steel Industry Safety and Health Commission was made within the context of the application by undertakings of the principles of accident and disease prevention previously adopted by the said Commission. It puts forward recommendations for the effective and gradual implementation of a programme of action on occupational health and safety in the various departments of an undertaking and in the undertaking as a whole. The methods proposed in this study are likely to be of interest to all undertakings in the metallurgical industry and other industrial sectors

  17. Fusion technology programme

    International Nuclear Information System (INIS)

    In the current Fusion Technology Programme of the European Community the KfK association is working at present on 16 R and D contracts. Most of the work is strongly oriented towards the Next European Torus. Direct support to NET is given by three KfK delegates being member of the NET study group. In addition to the R and D contracts the association is working on 11 NET study contracts. Though KfK contributes to all areas defined in fusion technology, the main emphasis is put on superconducting magnet and breeding blanket development. Other important fields are tritium technology, materials research, and remote handling. (orig./GG)

  18. Multilateral Interoperability Programme

    Directory of Open Access Journals (Sweden)

    L. Burita

    2009-12-01

    Full Text Available The Multilateral Interoperability Programme (MIP is a voluntary and independent activity in NATO environment by the participating nations and organizations. The MIP concept is based on data exchange in form of common exchange data model to achieve the international interoperability in command and control information systems (C2IS of the tactical units. The article describes the basis of the MIP organizations, structure, planning and testing processes. The core of the MIP solution is the Information Exchange Data Model (IEDM. The Czech Armed Forces (CAF MIP process implementation is mentioned. The MIP example is a part of university education process.

  19. Research and training programmes

    Directory of Open Access Journals (Sweden)

    Daksha Patel

    2007-03-01

    Full Text Available Research is defined in the Oxford English Dictionary as “a systematic investigation and study of materials and sources in order to establish facts and reach new conclusions.”Research is embedded in the curricula of most postgraduate training programmes; students are expected to complete some form of original work towards a dissertation. This often evokes a range of reactions: “What is the purpose of this exercise? Why do I have to do research when I just want to do a job? Shouldn’t research rather be left to experts? I can’t do the course; I have no research background!”

  20. Research and training programmes

    OpenAIRE

    Daksha Patel

    2007-01-01

    Research is defined in the Oxford English Dictionary as “a systematic investigation and study of materials and sources in order to establish facts and reach new conclusions.”Research is embedded in the curricula of most postgraduate training programmes; students are expected to complete some form of original work towards a dissertation. This often evokes a range of reactions: “What is the purpose of this exercise? Why do I have to do research when I just want to do a job? Shouldn’t research r...