Equity, tariffing, regulation: analysis of the cost allocation policies of an electric utility industry

International Nuclear Information System (INIS)

Bezzina, J.

1998-01-01

In this work, an analysis in terms of equity of policies of tariffing regulation and cost allocation of a multi-products electric company (organized as a natural monopoly) is proposed. The goal is double. In a standard point of view, the first goal is to show that today's literature in the domains of public economy, industrial organization and regulation (traditionally based on efficiency considerations) is able to supply reading keys for the analysis of moral philosophy problems. In a positive point of view, the second goal is to demonstrate that the equity criterion is operational enough to judge tariffing management practices in a particular industrial environment and can be used as a regulatory instrument by an ethics-concerned authority. The document is organized in two parts. An ethical and economical analysis of the equity concepts between allocation efficiency, production efficiency and tariffing practices of companies is proposed first. A particular equity concept is considered which is ready to be implemented for the regulation of a public utility, and the ins and outs expected with an equity theory of tariffing practices are evoked. In a second part, an analysis of goal conflicts between the authority and the regulated company is made in a point of view of equity regulation and cost allocation. An improved equity criterion is defined first, from which a measure is built and becomes a tool for the regulatory authority. Then, its use by a regulatory authority fully informed or encountering information asymmetry problems are analyzed in order to show its stakes on the cost allocation and tariffing policies of the company. (J.S.)

Media reporting, carbon information disclosure, and the cost of equity financing: evidence from China.

Science.gov (United States)

Li, Li; Liu, Quanqi; Tang, Dengli; Xiong, Jucheng

2017-04-01

By using Shanghai and Shenzhen A-share listed companies in heavy polluting industry as research object from 2009 to 2014, this paper examines the relationship between media reporting, carbon information disclosure, and the cost of equity financing. The results show that media reporting can improve the quality of carbon information disclosure, and carbon information disclosure level is negatively associated with the cost of equity financing. This study also finds that financial carbon information disclosure and non-financial carbon information disclosure have significant negative relationship with the cost of equity financing respectively. Moreover, this paper shows that media reporting can strengthen the relationship between carbon information disclosure and the cost of equity financing.

DOES ECO-EFFICENCY REDUCE THE COST OF EQUITY CAPITAL? EMPIRICAL EVIDENCE FROM INDONESIA

Directory of Open Access Journals (Sweden)

Lisa Alviani

2015-05-01

Full Text Available The objective of this study is to examine the effect of eco-efficiency on the cost of equity capital. The study hypothesizes that the implementation of eco-efficiency reduces the cost of equity capital. Using manufacturing companies listed on the Indonesian Stock Exchange for the period 2010-2012 as data, and controlling for beta, company size, Book to Market ratio, and leverage; the study finds that the implementation of eco-efficiency may reduce the cost of equity capital. The findings suggest that companies should implement eco-efficency.

Alternative measures of the Federal Reserve Banks' cost of equity capital

OpenAIRE

Barnes, Michelle L.; Lopez, Jose A.

2005-01-01

The Monetary Control Act of 1980 requires the Federal Reserve System to provide payment services to depository institutions through the twelve Federal Reserve Banks at prices that fully reflect the costs a private-sector provider would incur, including a cost of equity capital (COE). Although Fama and French (1997) conclude that COE estimates are “woefully” and “unavoidably” imprecise, the Reserve Banks require such an estimate every year. We examine several COE estimates based on the Capital...

Mandatory IFRS adoption and the cost of Equity Capital. Evidence from Spanish Firms

Directory of Open Access Journals (Sweden)

David Castillo-Merino

2014-05-01

Full Text Available Purpose: The main objective of this paper analyses the effects of mandatory International Financial Reporting Standards (IFRS adoption by Spanish firms in 2005 on the cost of equity capital. Design/methodology: Using a sample of listed Spanish companies during the 1999 to 2009 period and a country-level focused analysis. To achieve our objective we relied on OLS regression analysis and estimate the dependent variable – the cost of equity – by using the proxy suggested in Easton (2004. Findings: We find evidence that, unlike previous studies, Spanish listed companies show a significant reduction in their cost of equity capital after the mandatory adoption of IFRS in 2005, after controlling by a set of firm-risk and market variables. According to our results, increased financial disclosure and enhanced information comparability, along with changes in legal and institutional enforcement, seem to have a joint effect on the cost of capital, leading to a large decrease in expected equity returns. Research limitations: The main limitation of the study is that the sample represents just one country. Practical implications: The findings of the study may have implications for the firms’ management staff, as they reveal what information determines the cost of equity capital. The systematic risk and the leverage affect positively the cost of stocks and therefore their market value. The results are consistent with the financial principle establishing that the higher risk and the higher leverage, the higher cost of capital. Originality/value: As a result of the conducted research, one is able to figure out which stock-return variables should be observed to anticipate the change of a company’s cost of capital.

The Differences Cost of Equity Capital between Before and After Adoption of IFRS

Directory of Open Access Journals (Sweden)

I Putu Sugiartha Sanjaya

2017-11-01

Full Text Available The objective of this study was to analyze and compare between cost of equity capital between before and after adoption of IFRS on Statement of Financial Accounting Standard Financial Instrument (PSAK for banking companies listed in Indonesian Stock Exchange. The period on this study was 2008-2009 for before adoption and 2013-2014 for after adoption. Data on this study was secondary data such as annual financial reporting and share price. Cost of equity capital was measured using Ohlson Model. Sample in this study was banking companies listed in Indonesian Stock Exchange in 2008, 2009, 2013, and 2014. Selecting sample was by purposive sampling with specific criteria. Results of this study proved that cost of equity capital was lower for after adoption of IFRS on Statement of Financial Accounting Standard Financial Instrument for banking companies listed in Indonesian Stock Exchange than before adoption. It meant that adoption IFRS could reduce cost of equity capital. This result had an impact on reducing non performing loan, increasing loan to deposit ratio, and increasing net interest margin.

Effect of Entry into Socially Responsible Investment Index on Cost of Equity and Firm Value

Directory of Open Access Journals (Sweden)

Kijung Eom

2017-04-01

Full Text Available The purpose of this study was to identify the effect of a company’s incorporation into the Socially Responsible Investment (SRI index on its cost of equity (COE and corporate value. The study collected and analyzed data about the four-year long changes of the component stocks of the Korea Exchange (KRX SRI index from September 2010 to September 2013 to verify the correlation between the incorporation of the SRI index and the cost of equity or corporate value by using the Price-Earnings Growth (PEG, Modified PEG (MPEG and Gode and Mohanram (GM models for estimation of the implied costs of equity capital, as well as Tobin’s Q ratio. The analysis results failed to show any significant relation between the incorporation of the SRI index and the cost of equity capital. Also, no statistically significant correlation between the incorporation of the SRI index and corporate value was observed. However, at an early phase of introduction of the SRI index, the included companies revealed a negative correlation with the cost of equity. However, after changing the listed stocks, they showed a positive correlation with the cost of equity capital. All in all, this can be ascribed to a mixed presence of optimistic and pessimistic investors about CSR activities, or there is a possibility that the KRX SRI index might not correctly reflect the CSR activities of companies.

Structure of Cost of Equity as the Dependence on the Corporate- and Market Life Cycle

Directory of Open Access Journals (Sweden)

Zdeněk Konečný

2013-10-01

Full Text Available Purpose of the article: Companies, like all living creatures, goes through their life cycle, which includes some partial phases. Each of these phases is specific. Depending up the corporate life cycle, there are changed managerial decisions, that have an considerable influence, among others, on financial indicators like liquidity (current ratio, quick ratio, cash ratio, return (on investment, assets, equity, sales, economic value added, or cost of capital. The purpose of this article is to show relations between corporate life cycle and the structure of cost of equity. Furthermore, there will be, besides the corporate life cycle, considered also the market life cycle and market positions, that can companies hold on the market, on which they are acting. Methodology/methods: There is used a method, based on the analysis of secondary data, gotten from financial statements of selected companies and from statistical and analytical documents, published by Czech Ministry of Industry and Trade. There are selected 39 companies, acting on the czech market with motor vehicles production. The data are gathered for periods from 2002 up to 2010. There is used a model by Reiners (2004 to identify phases of corporate- and market life cycle and market positions. For finding out the structure of cost of equity there is used the constructional model by Czech Ministry of Industry and Trade. Scientific aim: The selected companies are divided into groups with considering different phases of their life cycle and with considering their different market positions. There are for each period found out numbers of companies from these groups, that reached the minimal value, the value within the interval and maximal value of all risk rewards, that are, besides the riskless rate, components of cost of equity. Findings: The greatest part of cost of equity, reached on the market, is the riskless rate. Other components (and their shares on the cost of equity

Customer value disclosure and cost of equity capital

NARCIS (Netherlands)

Orens, R.; Aerts, W.A.A.; Lybaert, N.

2013-01-01

Purpose – This paper seeks to examine the association between a firm's extent and precision of customer value disclosure and its implied cost of equity capital. In addition, it aims to investigate whether industry competition intensity attenuates this association. Design/methodology/approach – The

Consumption-based Equity Valuation

DEFF Research Database (Denmark)

Bach, Christian; Christensen, Peter Ove

2013-01-01

the performance of the model with several implementations of standard valuation models, both in terms of absolute valuation errors, and in terms of the returns on simple investment strategies based on the differences between model and market prices in the respective valuation models. The CCAPM-based valuation...... model performs substantially better than the best performing standard valuation model when comparing absolute valuation errors. Both types of models are able to identify investment strategies with subsequent excess returns but also in this setting, the CCAPM-based valuation model outperforms...... residual income for risk in the numerator rather than through a risk-adjusted cost of equity in the denominator. The risk-adjustments are derived based on assumptions about the time-series properties of residual income returns and aggregate consumption rather than on historical stock returns. We compare...

Corporate tax avoidance and ex ante equity cost of capital in Europe

OpenAIRE

Pulido, Matilde; Barros, Victor

2017-01-01

The aim of this paper is to study the longstanding relationship between corporate tax avoidance and ex ante equity cost of capital in Europe, taking into consideration country specific characteristics, which are essential in a context of corporate tax competition. We find that investors apprehend tax avoidance differently at distinct levels of tax avoidance. We provide strong evidence that as low tax avoidance firms engage in greater tax avoidance, the ex ante equity cost of capital decreases...

PRAGMATICS OF USING A MODIFIED CAPM MODEL FOR ESTIMATING COST OF EQUITY ON EMERGING MARKETS

Directory of Open Access Journals (Sweden)

Vitaliy Semenyuk

2016-11-01

Full Text Available The aim of the work is to forming pragmatic recommendations for the development and implementation the modified CAPM model in the process of estimating the equity value on emerging markets. Original CAPM model allows estimating the cost of equity on the developed capital markets. At the same time it requires the information received on the market data basis. But, as show recent empirical research, the classical model does not always produce acceptable results of the equity estimation. In addition, CAPM model in its classical form can’t be used to estimate the cost of equity for countries with emerging markets. This is due with lower efficiency in emerging markets, with lower level of liquidity and capitalization, which makes the information obtained from these markets not entirely reliable. Therefore in practice are increasingly using different modification CAPM models, that allow consider for more specific factors which affect the cost of equity. These factors, which are not considered in the classical CAPM model, include the size of the corporation and country risk. The first factor is actual for developed and emerging markets and needed to account during the equity estimation and modification the CAPM model. Country risk is associated with differences and peculiarities of the economies different countries and in the first place should be taken into account when estimating the cost of equity in emerging capital markets, which are considered by investors as more risky for investment. This factor should also be taken into account in estimating the cost of equity. Methodology In the process of constructing a modified CAPM model, theoretical and methodological provisions were used, which are set out in the work R. Banz, G. Bekaert, M. Goedhart, R. Grabowski, R. Grinold, D. Vessels, A. Damodaran, M. Dempsey, J. Zhang, R. Ibbotson, P. Kaplan, T. Koller, K. Kroner, L. Kruschwitz, M. Long, A. Lofler, G. Mandl, M. Miller, F. Modilyani, K. Nunes, D

THE IMPACT OF THE CONVERSION OF HISTORICAL COST TO CORRECTED CURRENT COST ON RETURN ON ASSETS AND EQUITY: ANALYSIS FROM DUPONT SYSTEM.

Directory of Open Access Journals (Sweden)

Roberto Silva da Penha

2013-12-01

Full Text Available Historical cost is the most used form of accounting valuation, but it does not reflect the effect of currency in time. The Theory of Corrected Current Cost, albeit with limitations, may show evidence of real and relevant accounting information of the entity. In this context, a question can be formulated: What is the impact of the conversion of historical cost to corrected current cost in return on assets and equity? In order to answer this question, the DuPont system was applied in a model company as a tool for analysis. The results showed that the return of assets at historical cost and corrected current cost were 12.11% and 3.14%, respectively, a decrease of 74.07%, and the result of the return on equity, the historical cost and corrected current cost were 20.59% and 4.96%, respectively, decreased 75.91%. Based on these variations it is observed that the impacts of the conversion of the corrected current cost were significant,confirming the importance of the adoption of this practice, whenever possible.

How well does consumer-based brand equity align with sales-based brand equity and marketing mix response?

NARCIS (Netherlands)

Datta, Hannes; Ailawadi, Kusum L.; van Heerde, H.J.

Brand equity is the differential preference and response to marketing effort that a product obtains because of its brand identification. Brand equity can be measured based on either consumer perceptions or on sales. Consumer-based brand equity (CBBE) measures what consumers think and feel about the

Consumption-based Equity Valuation

DEFF Research Database (Denmark)

Bach, Christian; Christensen, Peter O.

2016-01-01

implementations of standard valuation models, both in terms of median absolute valuation errors (MAVE) and in terms of excess returns on simple investment strategies based on the differences between model and market prices. The CCAPM-based valuation model yields a significantly lower MAVE than the best performing...... standard valuation model. Both types of models can identify investment strategies with subsequent excess returns. The CCAPM-based valuation model yields time-series of realized hedge returns with more and higher positive returns and fewer and less negative returns compared with the time-series of realized...... through a risk-adjusted cost of equity in the denominator. The risk adjustments are derived based on assumptions about the time-series properties of residual income returns and aggregate consumption rather than on historical stock returns. We compare the performance of the model with several...

Market value calculation and the solution of circularity between value and the weighted average cost of capital WACC

Directory of Open Access Journals (Sweden)

Ignacio Vélez-Pareja

2009-12-01

Full Text Available Most finance textbooks present the Weighted Average Cost of Capital (WACC calculation as: WACC = Kd×(1-T×D% + Ke×E%, where Kd is the cost of debt before taxes, T is the tax rate, D% is the percentage of debt on total value, Ke is the cost of equity and E% is the percentage of equity on total value. All of them precise (but not with enough emphasis that the values to calculate D% y E% are market values. Although they devote special space and thought to calculate Kd and Ke, little effort is made to the correct calculation of market values. This means that there are several points that are not sufficiently dealt with: Market values, location in time, occurrence of tax payments, WACC changes in time and the circularity in calculating WACC. The purpose of this note is to clear up these ideas, solve the circularity problem and emphasize in some ideas that usually are looked over. Also, some suggestions are presented on how to calculate, or estimate, the equity cost of capital.

Mandatory IFRS adoption and the cost of Equity Capital. Evidence from Spanish Firms

OpenAIRE

David Castillo-Merino; Carlota Menéndez-Plans; Neus Orgaz-Guerrero

2014-01-01

Purpose: The main objective of this paper analyses the effects of mandatory International Financial Reporting Standards (IFRS) adoption by Spanish firms in 2005 on the cost of equity capital. Design/methodology: Using a sample of listed Spanish companies during the 1999 to 2009 period and a country-level focused analysis. To achieve our objective we relied on OLS regression analysis and estimate the dependent variable – the cost of equity – by using the proxy suggested in Easton (2004). Find...

Measuring the distribution of equity in terms of energy, environmental, and economic costs in the fuel cycles of alternative fuel vehicles with hydrogen pathway scenarios

Science.gov (United States)

Meyer, Patrick E.

Numerous analyses exist which examine the energy, environmental, and economic tradeoffs between conventional gasoline vehicles and hydrogen fuel cell vehicles powered by hydrogen produced from a variety of sources. These analyses are commonly referred to as "E3" analyses because of their inclusion of Energy, Environmental, and Economic indicators. Recent research as sought a means to incorporate social Equity into E3 analyses, thus producing an "E4" analysis. However, E4 analyses in the realm of energy policy are uncommon, and in the realm of alternative transportation fuels, E4 analyses are extremely rare. This dissertation discusses the creation of a novel E4 simulation tool usable to weigh energy, environmental, economic, and equity trade-offs between conventional gasoline vehicles and alternative fuel vehicles, with specific application to hydrogen fuel cell vehicles. The model, dubbed the F uel Life-cycle Analysis of Solar Hydrogen -- Energy, Environment, Economic & Equity model, or FLASH-E4, is a total fuel-cycle model that combines energy, environmental, and economic analysis methodologies with the addition of an equity analysis component. The model is capable of providing results regarding total fuel-cycle energy consumption, emissions production, energy and environmental cost, and level of social equity within a population in which low-income drivers use CGV technology and high-income drivers use a number of advanced hydrogen FCV technologies. Using theories of equity and social indicators conceptually embodied in the Lorenz Curve and Gini Index, the equity of the distribution of societal energy and environmental costs are measured for a population in which some drivers use CGVs and other drivers use FCVs. It is found, based on baseline input data representative of the United States (US), that the distribution of energy and environmental costs in a population in which some drivers use CGVs and other drivers use natural gas-based hydrogen FCVs can be

Essays on executive equity-based compensation and equity ownership

OpenAIRE

Elsilä, A. (Anna)

2015-01-01

Abstract A major proposition of the agency theory is that the conflict of interests between an agent and a principal is reduced when the agent’s wealth and compensation are tied to the performance of the firm. Apart from the direct predicted relation to corporate performance, compensating managers with equity instruments has implications for corporate risk-taking and payout policy choices. Additionally, equity-based compensation practices are to a large extent shaped by institutional facto...

Equity Valuation

DEFF Research Database (Denmark)

Christensen, Peter Ove; Feltham, Gerald A.

, interest rates, expected equity returns, and inflation rates are all stochastic. We explicitly characterize the risk-adjustments to the fundamentals in an equilibrium setting. We show how the term structure of risk-adjustments depends on both the time-series properties of the free cash flows......-coupon interest rates. We show that standard estimates of the cost of capital, based on historical stock returns, are likely to be a significantly biased measure of the firm’s cost of capital, but also that the bias is almost impossible to quantify empirically. The new approach recognizes that, in practice......We review and critically examine the standard approach to equity valuation using a constant risk-adjusted cost of capital, and we develop a new valuation approach discounting risk-adjusted fundamentals, such as expected free cash flows and residual operating income, using nominal zero...

Relationship between cost of equity capital and voluntary corporate disclosures

NARCIS (Netherlands)

Petrova, E.; Georgakopoulos, G.; Sotiropoulos, I.; Vasileiou, K.Z.

2012-01-01

The relationship between disclosure and cost of equity capital has always been interesting not only for managers, but for investors as well. Economic theory suggests that by increasing the level of corporate reporting firms not only increase their stock market liquidity, but they also decrease the

Does management entrenchment explain agency costs of equity: Evidence from French firms

Directory of Open Access Journals (Sweden)

Mondher Kouki

2016-11-01

Full Text Available The purpose of this study is to examine the effect of the management entrenchment on the agency costs of equity. We conduct tests on 120 French companies over the period 2000-2014 in order to test the impact of the main factors that can intensify the conflicts between shareholders and managers. We use three alternative measures of agency costs of equity, namely asset utilization, operating expenses and administrative expenses. According to the empirical results, the CEO age, his dual role of executive and chairman, and the discrepancy between ownership and voting rights are relevant determinants of agency conflicts between shareholders and managers. Furthermore, we find that the manager’s seniority and his ownership constitute internal governance mechanisms for the French companies.

Reviewing the Concept of Brand Equity and Evaluating Consumer-Based Brand Equity (CBBE) Models

OpenAIRE

Sanaz Farjam; Xu Hongyi

2015-01-01

The purpose of this paper is to explore the concept of brand equity and discuss its different perspectives, we try to review existing literature of brand equity and evaluate various Customer-based brand equity models to provide a collection from well-known databases for further research in this area.Classification-JEL: M00

Cost of Capital Estimation for Highway Concessionaires in Chile

Directory of Open Access Journals (Sweden)

Cristian Vergara-Novoa

2018-01-01

Full Text Available In this paper, we present the cost of capital estimation for highway concessionaires in Chile. We estimated the cost of equity and the cost of debt and determined the capital structure for each one of twenty-four concessionaires that operate highways. We based our estimations on the developments of Sharpe (1964, Modigliani and Miller (1958, and Maquieira (2009, which were also compared with the Brusov et al. (2015 developments. We collected stock prices for different highway concessionaires around the world from Google Finance and Reuters’ websites in order to determine the Beta of equity using a representative company. After that, we estimated the cost of equity considering Hamada (1969 and a Capital Asset Pricing Model. Then, we estimated the cost of capital using the cost of debt and the capital structure of Chile’s highway concessionaires. With all above, we were able to determine the Weighted Average Cost of Capital (WACC for highway concessions which ranges from 5.49 to 6.62%.

Cost of equity on the Polish and global coal market - comparative analysis

OpenAIRE

Aneta Michalak

2014-01-01

The mining industry in Poland as well as in the world is considered to be a strategic industry, of special significance for the economy. At the same time it is an industry requiring high capital outlays. Equity plays an important role in financing of the mining enterprises. The objective of the article is to compare the cost of equity on the Polish and global coal market. The object of the research are the Polish and foreign mining enterprises listed on the stock markets. The basic research m...

QUALICOPC, a multi-country study evaluating quality, costs and equity in primary care.

NARCIS (Netherlands)

Schäfer, W.L.A.; Boerma, W.G.W.; Kringos, D.S.; Maeseneer, J. de; Gress, S.; Heinemann, S.; Rotar-Pavlic, D.; Seghieri, C.; Svab, I.; Berg, M.J. van den; Vainieri, M.; Westert, G.P.; Willems, S.; Groenewegen, P.P.

2011-01-01

Background: The QUALICOPC (Quality and Costs of Primary Care in Europe) study aims to evaluate the performance of primary care systems in Europe in terms of quality, equity and costs. The study will provide an answer to the question what strong primary care systems entail and which effects primary

Multicriteria Estimated Cost of Equity Capital Estimación multicriterio del costo de capital patrimonial

Directory of Open Access Journals (Sweden)

Juan Carlos Gutiérrez Betancur

2009-12-01

Full Text Available The estimation of the cost of equity capital is a key input to the capital budgeting  process when the firm uses internal financing. Financial analyst and managers usually utilize the CAPM to estimate the cost of equity which requires both measurement of  the market risk premium and estimation of beta. For publicly traded firms, calculating the cost of equity is entirely based on information from the financial markets. Non traded firms and small businesses do not have sufficient market based information. This article proposes a multicriteria model to determine the cost of equity for non traded firms. The Analytic Hierarchy Process developed by Thomas Saaty is the proposed methodology for deriving relative priorities of tangible and intangible corporate risk factors. The model requires business managers to identify the relevant information sources for the required input data. The inconsistencies checking mechanism within the AHP model allows management to identify inconsistencies, to revise prior judgments and to synthesize coherently.ResumenLa estimación del costo del capital propio es un elemento clave en el proceso de presupuestación de capital. Analistas y gerentes financieros utilizan el CAPM para estimar el costo del patrimonio, el cual requiere tanto la medición de la prima de riesgo del mercado como la estimación de beta. En el caso de compañías públicamente cotizadas y bursátiles, el cálculo del costo del patrimonio se basa totalmente en la información disponible en los mercados financieros. Las firmas no transadas en bolsa no cuentan con suficiente información de mercado que permita construir un comparable exactamente válido. Este artículo propone un modelo multicriterio para determinar el costo del capital propio de compañías no transadas en bolsa. El Proceso Analítico de Jerarquías desarrollado por Thomas Saaty soporta la metodología propuesta para derivar prioridades relativas de factores de riesgo corporativos

26 CFR 1.809-10 - Computation of equity base.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Computation of equity base. 1.809-10 Section 1... (CONTINUED) INCOME TAXES Gain and Loss from Operations § 1.809-10 Computation of equity base. (a) In general. For purposes of section 809, the equity base of a life insurance company includes the amount of any...

Do Professors Have Customer-Based Brand Equity?

Science.gov (United States)

Jillapalli, Ravi K.; Jillapalli, Regina

2014-01-01

This research endeavors to understand whether certain professors have customer-based brand equity (CBBE) in the minds of students. Consequently, the purpose of this study is to conceptualize, develop, and empirically test a model of customer-based professor brand equity. Survey data gathered from 465 undergraduate business students were used to…

Disentangling the Effects of Corporate Disclosure on the Cost of Equity Capital: A Study of the Role of Intellectual Capital Disclosure

OpenAIRE

Mangena, M.; Li, J.; Tauringana, Venancio

2016-01-01

In this article, we investigate whether intellectual capital (IC) and financial disclosures jointly affect the firm’s cost of equity capital. In contrast to prior research, we disaggregate disclosures into IC and financial disclosures and examine whether the two disclosure types are jointly related to the cost of equity capital. We also investigate whether IC and financial disclosures have an interaction effect on the cost of equity capital. Using data for a sample of 125 U.K. firms, we find ...

Equity Mispricing and Leverage Adjustment Costs

NARCIS (Netherlands)

Warr, R.S.; Elliott, W.B.; Koeter-Kant, J.; Oztekin, O.

2012-01-01

We find that equity mispricing impacts the speed at which firms adjust to their target leverage (TL) and does so in predictable ways depending on whether the firm is over- or underlevered. For example, firms that are above their TL and should therefore issue equity (or retire debt) adjust more

Pricing of brand extensions based on perceptions of brand equity

Directory of Open Access Journals (Sweden)

Panagiotis Arsenos

2018-04-01

Full Text Available The paper explores the role of brand equity when pricing hypothetical brand extensions. Companies tend to use different pricing techniques for their products, and their pricing decisions are based on many factors, including image and category fit of the product with the existing image and products of the company. Brand extensions are usually investigated from a consumer perspective, focusing on the extension attitude, however, it is essential to understand the corporate decision-making process regarding pricing. Exploring this matter using quantitative research methods, the study provides empirical evidence that companies that have invested heavily in marketing actions in the past and have built strong brand equity over-time, show flexibility in the mark-up during the cost decision-making process of a hypothetical brand extensions. Variations in mark-up percentages are also observed when there is a difference in image and category fit of the extension to the original brand. However, companies characterized by greater brand equity exhibited greater flexibility in the mark-up percentages, even for low fit extensions.

Instigating involvement through consumer-based brand equity : an attitudinal study of consumer-based brand equity and consumer involvement

OpenAIRE

Bredberg, David; Holmquist, Johan

2009-01-01

Recent research on links between dimensions of consumer-based brand equity, as well as links to consumer involvement, has shown that it is a significant predictor of purchase behavior. The purpose of this dissertation is to explore the affect brands have on consumer involvement. We attempt to investigate how consumer-based brand equity affects the level of consumer involvement. Based on consumer behavior theory and previous research of these areas, gathered primary data (an empirical investig...

Equity Valuation

DEFF Research Database (Denmark)

Christensen, Peter Ove; Feltham, Gerald A.

-coupon interest rates. We show that standard estimates of the cost of capital, based on historical stock returns, are likely to be a significantly biased measure of the firm’s cost of capital, but also that the bias is almost impossible to quantify empirically. The new approach recognizes that, in practice......We review and critically examine the standard approach to equity valuation using a constant risk-adjusted cost of capital, and we develop a new valuation approach discounting risk-adjusted fundamentals, such as expected free cash flows and residual operating income, using nominal zero...

EQUITY SHARES EQUATING THE RESULTS OF FCFF AND FCFE METHODS

Directory of Open Access Journals (Sweden)

Bartłomiej Cegłowski

2012-06-01

Full Text Available The aim of the article is to present the method of establishing equity shares in weight average cost of capital (WACC, in which the value of loan capital results from the fixed assumptions accepted in the financial plan (for example a schedule of loan repayment and own equity is evaluated by means of a discount method. The described method causes that, regardless of whether cash flows are calculated as FCFF or FCFE, the result of the company valuation will be identical.

Consumer-Based Brand Equity: A literature review

Directory of Open Access Journals (Sweden)

A. Szőcs

2014-06-01

Full Text Available The concept of brand equity has gained in popularity since the 1980s, and since then, the field has undergone significant development. The concept of consumer-based brand equity has become a central marketing concept due to the increasing scientific and business interest in brands, since the approach according to which brands constitute one of the most valuable intangible assets of the companies is becoming increasingly widespread. The paper offers an updated literature review of this important research topic, providing a classification of brand equity models focusing on consumer based models. The most important models are critically reviewed from the perspective of model structure, methodology used and validity.

Consumer-Based Brand Equity: A literature review

Directory of Open Access Journals (Sweden)

Attila Szőcs

2014-01-01

Full Text Available The concept of brand equity has gained in popularity since the 1980s, and since then, the field has undergone significant development. The concept of consumer-based brand equity has become a central marketing concept due to the increasing scientific and business interest in brands, since the approach according to which brands constitute one of the most valuable intangible assets of the companies is becoming increasingly widespread. The paper offers an updated literature review of this important research topic, providing a classification of brand equity models focusing on consumer based models. The most important models are critically reviewed from the perspective of model structure, methodology used and validity.

Customer based brand equity: evidence from the hotel industry

OpenAIRE

Kayaman, Rüçhan; Araslı, Hüseyin

2007-01-01

The paper aims to explore interrelations of the four brand equity components; brand awareness, brand loyalty, perceived quality and brand image in hotel industry and improve the conceptualization of customer-based hotel brand equity. The paper is based on the recommendations of previous studies, the scale constructed to measure consumer-based brand equity included brand awareness, brand loyalty, perceived quality and brand image. The present study used a sample of 345 actual customers from 11...

Approaches that Affect Consumer-Based Brand Equity

Directory of Open Access Journals (Sweden)

Denise Santos de Oliveira

2017-08-01

Full Text Available Current studies on factors affecting the dimensions of consumer-based brand equity have been dispersed, applicable to specific contexts and not systematized in the literature. So, the purpose of this paper is to identify and categorize factors that create, increase or decrease each of the consumer-based brand equity dimensions: brand associations, brand awareness, perceived quality and brand loyalty. The extensive analysis of literature shows that there are significant differences between factors affecting each of the brand equity dimensions. Factors that positively affect one dimension cannot have the same effect on another. Moreover, it notes that the effect of such factors is variations when analyzed in different sectors and economic contexts. The main contribution of this research lies in the fact that it provides a research panorama already conducted on factors affecting the dimensions of consumer-based brand equity, indicating a potential for development of future studies. This research also enriches the literature categorizing the factors identified in the literature in four sets that allow the future targeting studies.

Private equity ownership and nursing home financial performance.

Science.gov (United States)

Pradhan, Rohit; Weech-Maldonado, Robert; Harman, Jeffrey S; Laberge, Alex; Hyer, Kathryn

2013-01-01

Private equity has acquired multiple large nursing home chains within the last few years; by 2009, it owned nearly 1,900 nursing homes. Private equity is said to improve the financial performance of acquired facilities. However, no study has yet examined the financial performance of private equity nursing homes, ergo this study. The primary purpose of this study is to understand the financial performance of private equity nursing homes and how it compares with other investor-owned facilities. It also seeks to understand the approach favored by private equity to improve financial performance-for instance, whether they prefer to cut costs or maximize revenues or follow a mixed approach. Secondary data from Medicare cost reports, the Online Survey, Certification and Reporting, Area Resource File, and Brown University's Long-term Care Focus data set are combined to construct a longitudinal data set for the study period 2000-2007. The final sample is 2,822 observations after eliminating all not-for-profit, independent, and hospital-based facilities. Dependent financial variables consist of operating revenues and costs, operating and total margins, payer mix (census Medicare, census Medicaid, census other), and acuity index. Independent variables primarily reflect private equity ownership. The study was analyzed using ordinary least squares, gamma distribution with log link, logit with binomial family link, and logistic regression. Private equity nursing homes have higher operating margin as well as total margin; they also report higher operating revenues and costs. No significant differences in payer mix are noted. Results suggest that private equity delivers superior financial performance compared with other investor-owned nursing homes. However, causes for concern remain particularly with the long-term financial sustainability of these facilities.

Intensive treatment for adults with anorexia nervosa: The cost of weight restoration.

Science.gov (United States)

Guarda, Angela S; Schreyer, Colleen C; Fischer, Laura K; Hansen, Jennifer L; Coughlin, Janelle W; Kaminsky, Michael J; Attia, Evelyn; Redgrave, Graham W

2017-03-01

Weight restoration in anorexia nervosa (AN) is associated with lower relapse risk; however rate of weight gain and percent of patients achieving weight restoration (BMI ≥ 19 at discharge) vary among treatment programs. We compared both cost/pound of weight gained and cost of weight restoration in a hospital-based inpatient (IP)-partial hospitalization (PH) eating disorders program to estimates of these costs for residential treatment. All adult first admissions to the IP-PH program with AN (N = 314) from 2003 to 2015 were included. Cost of care was based on hospital charges, rates of weight gain, and weight restoration data. Results were compared with residential treatment costs extracted from a national insurance claims database and published weight gain data. Average charge/day in the IP-PH program was $2295 for IP and $1567 for PH, yielding an average cost/pound gained of $4089 and $7050, respectively, with 70% of patients achieving weight restoration. Based on published mean weight gain data and conservative cost/day estimates, residential treatment is associated with higher cost/pound, and both higher cost and lower likelihood of weight restoration for most patients. The key metrics used in this study are recommended for comparing the cost-effectiveness of intensive treatment programs for patients with AN. © 2017 Wiley Periodicals, Inc.

Diminishing musyarakah investment model based on equity

Science.gov (United States)

Jaffar, Maheran Mohd; Zain, Shaharir Mohamad; Jemain, Abdul Aziz

2017-11-01

Most of the mudharabah and musyarakah contract funds are involved in debt financing. This does not support the theory that profit sharing contract is better than that of debt financing due to the sharing of risks and ownership of equity. Indeed, it is believed that Islamic banking is a financial model based on equity or musyarakah which emphasis on the sharing of risks, profit and loss in the investment between the investor and entrepreneur. The focus of this paper is to introduce the mathematical model that internalizes diminishing musyarakah, the sharing of profit and equity between entrepreneur and investor. The entrepreneur pays monthly-differed payment to buy out the equity that belongs to the investor (bank) where at the end of the specified period, the entrepreneur owns the business and the investor (bank) exits the joint venture. The model is able to calculate the amount of equity at any time for both parties and hence would be a guide in helping to estimate the value of investment should the entrepreneur or investor exit before the end of the specified period. The model is closer to the Islamic principles for justice and fairness.

Managing Consumer-Based Brand Equity in Higher Education

Directory of Open Access Journals (Sweden)

Tina Vukasovic

2015-03-01

Full Text Available The purpose of this study is to establish the key elements of brand equity for international students by exploring existing brand equity theory in its applicability to international higher education (HE. The main objective of this research is to enhance academic understanding of brand equity in the HE sector and explore the implications for management practice. Quantitative data collected via a self-completion survey are used to test a model of brand equity in the context of HE. The empirical setting is Slovenia, which has a mixture of public and private provision and an increasingly competitive environment. The results provide support for the proposed conceptual model, with image-related and awareness-related determinants. The findings of this research provided evidence that the customer-based brand equity model can be applied to the HE context as an element of competitive advantage and used to guide marketing activities for Universities internationally.

Equity Valuation

DEFF Research Database (Denmark)

Christensen, Peter Ove; Feltham, Gerald A.

-coupon interest rates. We show that standard estimates of the cost of capital, based on historical stock returns, are likely to be a significantly biased measure of the firm’s cost of capital, but also that the bias is almost impossible to quantify empirically. The new approach recognizes that, in practice......, interest rates, expected equity returns, and inflation rates are all stochastic. We explicitly characterize the risk-adjustments to the fundamentals in an equilibrium setting. We show how the term structure of risk-adjustments depends on both the time-series properties of the free cash flows...

A Causal Model of Consumer-Based Brand Equity

Directory of Open Access Journals (Sweden)

Szőcs Attila

2015-12-01

Full Text Available Branding literature suggests that consumer-based brand equity (CBBE is a multidimensional construct. Starting from this approach and developing a conceptual multidimensional model, this study finds that CBBE can be best modelled with a two-dimensional structure and claims that it achieves this result by choosing the theoretically based causal specification. On the contrary, with reflective specification, one will be able to fit almost any valid construct because of the halo effect and common method bias. In the final model, Trust (in quality and Advantage are causing the second-order Brand Equity. The two-dimensional brand equity is an intuitive model easy to interpret and easy to measure, which thus may be a much more attractive means for the management as well.

The effect of customer-base reputation on brand equity

OpenAIRE

Shahriyar Azizi; Behnaz Roustaian; Manizghe Gharache; Bahman Hajipour

2016-01-01

Among the most important sectors of Iranian economy is banking, an industry which has become more competitive over the recent decade. An objective of banks marketing is to increase brand equity. Since reputation is an important factor in improvement of brand equity, the present research evaluated the impact of bank customer-based reputation on total brand equity. A survey was conducted in Tehran metropolitan area, with the sample size of 246 people. Findings showed the positive impact of bank...

The importance of ROE for calculating EVA Equity: the case of Motor Jikov Strojírenská, a.s.

Directory of Open Access Journals (Sweden)

Mareček Jan

2017-01-01

Full Text Available A remarkable success depends on a variety of factors, one of which is the ability to motivate the employees, increasing motivation of managers, measuring business processes and measuring and observing values of the company. The tangible results are also shown by the indicator of return on equity (ROE. The article aims at reflecting the importance of ROE for the EVA Equity (economic value added for shareholders calculation of Motor Jikov Strojírenská, a.s. The data come from Albertina database. These are details of financial statements from 2000-2015. As a matter of fact, weighted average costs of capital, alternative cost value of equity capital and EVA Equity are calculated. Software Statistica and its sophisticated tool data mining - automated neural networks was used for finding a correlation between EVA Equity indicator and ROE. In addition, 10,000 neural networks were generated, five of which with the best results have been stored. The results show that EVA Equity is not dependent on the ROE rate.

Attitudes on cost-effectiveness and equity: a cross-sectional study examining the viewpoints of medical professionals.

Science.gov (United States)

Li, David G; Wong, Gordon X; Martin, David T; Tybor, David J; Kim, Jennifer; Lasker, Jeffrey; Mitty, Roger; Salem, Deeb

2017-08-01

To determine the attitudes of physicians and trainees in regard to the roles of both cost-effectiveness and equity in clinical decision making. In this cross-sectional study, electronic surveys containing a hypothetical decision-making scenario were sent to medical professionals to select between two colon cancer screening tests for a population. Three Greater Boston academic medical institutions: Tufts University School of Medicine, Tufts Medical Centre and Lahey Hospital and Medical Centre. 819 medical students, 497 residents-in-training and 671 practising physicians were contacted electronically using institutional and organisational directories. Stratified opinions of medical providers and trainee subgroups regarding cost-effectiveness and equity. A total of 881 respondents comprising 512 medical students, 133 medical residents-in-training and 236 practising physicians completed the survey (total response rate 44.3%). Thirty-six per cent of medical students, 44% of residents-in-training and 53% of practising physicians favoured the less effective and more equitable screening test. Residents-in-training (OR 1.49, CI 1.01 to 2.21; p=0.044) and practising physicians (OR 2.12, CI 1.54 to 2.92; pmedical students. Moreover, female responders across all three cohorts favoured the more equitable screening test to a greater degree than did male responders (OR 1.70, CI 1.29 to 2.24; pmedical professionals place on equity. Among medical professionals, practising physicians appear to be more egalitarian than residents-in-training, while medical students appear to be most utilitarian and cost-effective. Meanwhile, female respondents in all three cohorts favoured the more equitable option to a greater degree than their male counterparts. Healthcare policies that trade off equity in favour of cost-effectiveness may be unacceptable to many medical professionals, especially practising physicians and women. © Article author(s) (or their employer(s) unless otherwise stated

Conservatism and the Cost of Equity Capital: a Multi-dimensional Measurement Approach

OpenAIRE

Gamaliel, Hendrik; Sugiri, Slamet

2013-01-01

Conservatism is a permanent phenomenon and issue in the accounting practice. It has beendeveloping in two forms, ex ante and ex post, measured in various ways—the accruals,valuation model, and book-to-market measures. Prior studies document inconclusive findingson the association between conservatism and the cost of equity capital. These inconsistentfindings motivate us to examine whether the various measures of conservatism have differenteffects on the relationship between conservatism and t...

Smart Beta Equity Investing Through Calm and Storm

NARCIS (Netherlands)

Boudt, Kris; Darras, Joakim; Ha Nguyen, Giang; Peeters, Benedict

2015-01-01

Smart beta portfolios typically achieve a superior diversification than the benchmark market capitalization-weighted portfolio, but remain vulnerable to broad market downturns. We examine tactical investment decision rules to switch timely between equity and cash investments based on an underlying

Cost of capital to the hospital sector.

Science.gov (United States)

Sloan, F A; Valvona, J; Hassan, M; Morrisey, M A

1988-03-01

This paper provides estimates of the cost of equity and debt capital to for-profit and non-profit hospitals in the U.S. for the years 1972-83. The cost of equity is estimated using, alternatively, the Capital Asset Pricing Model and Arbitrage Pricing Theory. We find that the cost of equity capital, using either model, substantially exceeded anticipated inflation. The cost of debt capital was much lower. Accounting for the corporate tax shield on debt and capital paybacks by cost-based insurers lowered the net cost of capital to hospitals.

Strošek lastniškega kapitala podjetja: primer ocene za izbrane slovenske delniške družbe = Cost of Equity Capital: An Example of Evaluation for Selected Slovene Joint-Stock Companies

Directory of Open Access Journals (Sweden)

Igor Stubelj

2009-03-01

Full Text Available The article sheds light on the evaluation of cost of equity, which is important as it determines the minimum yield the investors require on the invested capital. We use the cost of equity as a discount rate to calculate the present value of the expected free cash flows which belongs to the owners of equity capital. In the article, the methodological solutions for the evaluation of the equity capital cost with the CAPM on the Slovene financial market are shown. The Slovene capital market is a developing market with a short time line of available historical data. We evaluate the equity capital cost for selected Slovene companies.

Valuing Private Equity

DEFF Research Database (Denmark)

Sørensen, Morten; Wang, Neng; Yang, Jinqiang

2014-01-01

We investigate whether the performance of private equity (PE) investments is sufficient to compensate investors (LPs) for risk, long-term illiquidity, management, and incentive fees charged by the general partner (GP).We analyze the LPs’ portfolio-choice problem and find that management fees, car....... On average, LPs may just break even, net of management fees, carry, risk, and costs of illiquidity.......We investigate whether the performance of private equity (PE) investments is sufficient to compensate investors (LPs) for risk, long-term illiquidity, management, and incentive fees charged by the general partner (GP).We analyze the LPs’ portfolio-choice problem and find that management fees......, carried interest, and illiquidity are costly, and GPs must generate substantial alpha to compensate LPs for bearing these costs. Debt is cheap and reduces these costs, potentially explaining the high leverage of buyout transactions. Conventional interpretations of PE performance measures appear optimistic...

Equity markets : what a difference a year makes

International Nuclear Information System (INIS)

Tims, M.J.

1999-01-01

An overview of the investment climate in the oil and gas industry at this juncture of extremely low oil prices and weak capital spending was presented. This paper focused on the economics of equity markets, examining (1) the NYMEX near-month averages WTI identifying six periods of significant oil price declines, (2) spot crude oil price fluctuations since 1973, (3) fluctuations in the PE 100 Energy Index and blended commodity prices, (4) oil and gas equity financing, (5) total oil and gas equity offerings from 1991 to 1998, and (6) Canadian gas export capacities. Overall, a major pullback in equity markets has occured and the investment climate is not favorable. Oil and gas stocks are down almost 45 per cent from the highs of 1997, oilfield service company stocks suffered losses of 69 per cent from the 1997 highs. New equity Issues are much more difficult to complete than previously. Institutions are reducing energy sector weightings, as do mutual funds. Lower industry cash flows are leading to lower capital spending. Increased relative debt levels are constraining many companies. Finding and development costs are generally disappointing, particularly when seen in relation to current commodity prices. No improvement in cash flow is expected in 1999 as oil prices are likely to remain depressed. The outlook in gas is somewhat better; it could be good, depending on the remainder of winter, possible supply shortfall, pipeline-related factors, natural gas drilling activity and the influence of gas storage

Customer equity of Pakistani fast food restaurant: A study of attitudinal customer equity

Directory of Open Access Journals (Sweden)

Zubair

2017-02-01

Full Text Available Customer Equity is true representative of relationship marketing. There are two major approach-es to measure Customer Equity: Transaction/sales based approach and Attitudinal Approach. This research is an effort to check customer equity of fast food restaurants of Pakistan by using attitudinal approach. Transactional customer equity is treated as criterion for attitudinal customer equity. Three drivers of Customer Equity are Value Equity, Brand equity and Relationship equity are taken as independent variables in this research. Convenient sampling technique was used and sample size was 393 respondents. The results show that attitudinal customer equity had strong association with transactional equity. Brand equity, value equity and relationship equity show positive associations with attitudinal customer equity.

Stakeholders in Equity-Based Crowdfunding: Respective Risks Over the Equity Crowdfunding Lifecycle

Directory of Open Access Journals (Sweden)

Semen Son Turan

2015-08-01

Full Text Available Objective. The purpose of this paper is to present a thorough research on the risk categories and specific risk factors that each immediate stakeholder faces over the equity crowdfunding lifecycle.Methodology. This study employs an exploratory approach, supported by current data to understand the global equity crowdfunding setting and the stakes for major players.Findings. Findings show that, although equity crowdfunding, can be a unique opportunity especially for underdeveloped countries and SMEs who have difficulty obtaining funding elsewhere, is also a potential peril for those who ignore or underestimate the overall and stand-alone risks that come along with each stage of the process. The findings have implications for all ventures seeking alternative financing venues, investors and equity crowdsourcing platforms. Furthermore, they pinpoint potential areas of further investigation for researchers and policy makers.Originality/Value. This study differentiates itself from the limited number of papers on equity crowdfunding, as a newly developing field of academic research, in that it underscores financial, regulatory, operational, reputational and strategic risks from several perspectives and offers recommendations on how these risks can be addressed.

Investigating DRG cost weights for hospitals in middle income countries.

Science.gov (United States)

Ghaffari, Shahram; Doran, Christopher; Wilson, Andrew; Aisbett, Chris; Jackson, Terri

2009-01-01

Identifying the cost of hospital outputs, particularly acute inpatients measured by Diagnosis Related Groups (DRGs), is an important component of casemix implementation. Measuring the relative costliness of specific DRGs is useful for a wide range of policy and planning applications. Estimating the relative use of resources per DRG can be done through different costing approaches depending on availability of information and time and budget. This study aims to guide costing efforts in Iran and other countries in the region that are pursuing casemix funding, through identifying the main issues facing cost finding approaches and introducing the costing models compatible with their hospitals accounting and management structures. The results show that inadequate financial and utilisation information at the patient's level, poorly computerized 'feeder systems'; and low quality data make it impossible to estimate reliable DRGs costs through clinical costing. A cost modelling approach estimates the average cost of 2.723 million Rials (Iranian Currency) per DRG. Using standard linear regression, a coefficient of 0.14 (CI = 0.12-0.16) suggests that the average cost weight increases by 14% for every one-day increase in average length of stay (LOS).We concluded that calculation of DRG cost weights (CWs) using Australian service weights provides a sensible starting place for DRG-based hospital management; but restructuring hospital accounting systems, designing computerized feeder systems, using appropriate software, and development of national service weights that reflect local practice patterns will enhance the accuracy of DRG CWs.

The consumer-based brand equity inventory: Scale construct and validation

OpenAIRE

Schivinski, Bruno; Dabrowski, Dariusz

2014-01-01

The present study aims to meet the need for a refinement of the consumer-based brand equity scale and to address the limitations of the previous research on the subject. Based on previous measurements of brand equity, CBBE is conceptualized in this study as a four-dimensional model consisting of brand awareness, brand association, perceived quality, and brand loyalty. A sample of 1874 Polish consumers was used to test the proposed dimensions. To measure the construct, we used a combination of...

The role of debt and equity finance over the business cycle

NARCIS (Netherlands)

Covas, F.; den Haan, W.J.

2012-01-01

If equity issuance is introduced into the costly state verification framework and the friction firms face in raising equity is acyclical, then the model cannot simultaneously generate procyclical equity issuance and a countercyclical default rate. This requires a countercyclical equity issuance

Comparison of Skin Moisturizer: Consumer-Based Brand Equity (CBBE Factors in Clusters Based on Consumer Ethnocentrism

Directory of Open Access Journals (Sweden)

Yossy Hanna Garlina

2014-09-01

Full Text Available This research aims to analyze relevant factors contributing to the four dimensions of consumer-based brand equity in skin moisturizer industry. It is then followed by the clustering of female consumers of skin moisturizer based on ethnocentrism and differentiating each cluster’s consumer-based brand equity dimensions towards a domestic skin moisturizer brand Mustika Ratu, skin moisturizer. Research used descriptive survey method analysis. Primary data was obtained through questionnaire distribution to 70 female respondents for factor analysis and 120 female respondents for cluster analysis and one way analysis of variance (ANOVA. This research employed factor analysis to obtain relevant factors contributing to the five dimensions of consumer-based brand equity in skin moisturizer industry. Cluster analysis and one way analysis of variance (ANOVA were to see the difference of consumer-based brand equity between highly ethnocentric consumer and low ethnocentric consumer towards the same skin moisturizer domestic brand, Mustika Ratu skin moisturizer. Research found in all individual dimension analysis, all variable means and individual means show distinct difference between the high ethnocentric consumer and the low ethnocentric consumer. The low ethnocentric consumer cluster tends to be lower in mean score of Brand Loyalty, Perceived Quality, Brand Awareness, Brand Association, and Overall Brand Equity than the high ethnocentric consumer cluster. Research concludes consumer ethnocentrism is positively correlated with preferences towards domestic products and negatively correlated with foreign-made product preference. It is, then, highly ethnocentric consumers have positive perception towards domestic product.

Structured model Consumer-based Brand Equity based on Promotional-mix elements(Case Study: Food Active Industries of Tehran)

OpenAIRE

Mehran Rezvani; Siran Mehrnia

2014-01-01

Abstract This paper aims to examine the relationships among Promotional-mix elements and Customer-based Brand Equity. Then, a model is developed to examine the relationships Promotional-mix elements and Customer-based brand equity in Food Industries of Tehran. The sample size is 240. Data are collected by questionnaire designed. The collected data is estimated using Lizrel and SEM method. The test results show that four dimensions of brand equity (brand awareness, perceived quality, and br...

The impact of federalism on the healthcare system in terms of efficiency, equity, and cost containment: the case of Switzerland.

Science.gov (United States)

Crivelli, Luca; Salari, Paola

2014-01-01

According to the economic theory of federalism (Oates 1999), a decentralized decision to collectively fund and supply the quantity and quality of public services will increase economic welfare as long as three conditions are fulfilled: preferences and production costs of the different local constituencies are heterogeneous; local governments are better informed than the central agency because of their proximity to the citizens; and the competition between local governments exerts a significant impact on the performance of the local administration and on the ability of public agencies to implement policy innovation. Federalism also presents some negative aspects, including the opportunity costs of decentralization, which materialize in terms of unexploited economies of scale; the emergence of spillover effects among jurisdictions; and the risk of cost-shifting exercises from one layer of the government to the other. Finally, competition between fiscal regimes can affect the level of equity. The literature considers fiscal federalism as a mechanism for controlling the size of the public sector and for constraining the development of redistributive measures. The present paper reviews the impact that federalism has on the efficiency, equity, and cost containment of the healthcare system in Switzerland, a country with a strongly decentralized political system that is based on federalism and the institutions of direct democracy, a liberal economic culture, and a well-developed tradition of mutualism and social security (generous social expenditure and welfare system). By analyzing the empirical evidence available for Switzerland, we expect to draw some general policy lessons that might also be useful for other countries.

Cost-effectiveness of sibutramine in the LOSE Weight Study: evaluating the role of pharmacologic weight-loss therapy within a weight management program.

Science.gov (United States)

Malone, Daniel C; Raebel, Marsha A; Porter, Julie A; Lanty, Frances A; Conner, Douglas A; Gay, Elizabeth C; Merenich, John A; Vogel, Erin A

2005-01-01

the cost-effectiveness of drug therapy when used in conjunction with a weight management program (WMP) for treatment of obesity. The objective was to compare the cost-effectiveness of sibutramine (Meridia) plus a structured WMP versus only a structured WMP in both overweight and obese individuals. The core WMP was a physician-supervised, multidisciplinary program for which each enrollee paid $100 out of pocket. A cost-effectiveness analysis was performed based upon the results of a previously published randomized controlled trial conducted within a managed care organization. The target population for this study was obese or overweight persons. The perspective of the study was that of a managed care organization. The intervention consisted of subjects receiving a WMP with or without sibutramine. The primary outcomes of this study were (a) absolute change in body weight and percentage change in body weight over 12 months, (b) change in obesity-related and total medical costs from 12 months prior to enrollment through 12 months after enrollment, and (c) cost-effectiveness in terms of cost per pound of weight loss. All costs were adjusted to 2004 dollars using the respective components of the consumer price index for each medical service or medication. A total of 501 evaluable subjects were enrolled in the study, with 281 receiving sibutramine plus a structured WMP and 220 receiving only the structured WMP. The meanSD weight loss was significantly greater in the sibutramine (13.715.5 pounds, 4.8%) group than in the nondrug group (513.2 pounds, 2.2%) (P cost was a median increase of $408 for the sibutramine group compared with $31 for the nondrug group (P cost was a median $1,279 increase in the sibutramine group compared with $271 for the nondrug group (P cost by $44 per additional pound of weight loss (95% confidence interval, 42-46). Sensitivity analyses found that the results were sensitive to the price of sibutramine, whereas varying the cost of clinic visits did

The Equity Consequences of School-Based Management

Science.gov (United States)

Nir, Adam E.; Miran, Meir

2006-01-01

Purpose: The purpose of this paper is to examine the extent to which the introduction of school-based management (SBM) affects schools' incomes and educational equity? Design/methodology/approach: An analysis of financial reports coming from 31 SBM schools during a period of four sequential years reveals that the overall inequity among schools has…

Equity Impacts of Environmental Policy

OpenAIRE

Antonio M. Bento

2013-01-01

This article surveys recent literature on the equity impacts of environmental policy. We focus on studies that look at the distribution of costs and benefits of alternative environmental policies. We also examine potentially important trade-offs between efficiency and equity that arise in the context of environmental policy, as well as transition effects. In many of the applications surveyed here, environmental policies can be regressive. Strategies are discussed to reduce this regressivity t...

The Effect of Corporate Social Responsibility Disclosure on the Cost of Equity of Firms and the Moderating Role of Ownership

NARCIS (Netherlands)

Kabir, Rezaul; Thái Minh, H¿nh

2017-01-01

The empirical relationship between corporate social responsibility (CSR) disclosure and the cost of equity is conflicting. Various corporate governance mechanisms may moderate this relationship. However, the moderating effect of foreign ownership - a key corporate governance mechanism in many

Temporal and spatial distribution of global mitigation cost: INDCs and equity

Science.gov (United States)

Liu, Jing-Yu; Fujimori, Shinichiro; Masui, Toshihiko

2016-11-01

Each country’s Intended Nationally Determined Contribution (INDC) pledges an emission target for 2025 or 2030. Here, we evaluated the INDC inter-generational and inter-regional equity by comparing scenarios with INDC emissions target in 2030 and with an immediate emission reduction associated with a global uniform carbon price using Asian-Pacific Integrated Model/Computable General Equilibrium. Both scenarios eventually achieve 2 °C target. The results showed that, as compared with an immediate emission reduction scenario, the inter-generational equity status is not favorable for INDC scenario and the future generation suffers more from delayed mitigation. Moreover, this conclusion was robust to the wide range of inequality aversion parameter that determines discount rate. On the other hand, the INDC scenario has better inter-regional equity in the early part of the century than does the immediate emission reduction scenario in which we assume a global carbon price during the period up to 2030. However, inter-regional equity worsens later in the century. The additional emissions reduction to the INDC in 2030 would improve both inter- and inter-regional equity as compared to the current INDC. We also suggest that countries should commit to more emissions reductions in the follow-up INDC communications and that continuous consideration for low-income countries is needed for global climate change cooperation after 2030.

How equity markets view heavy oil

Energy Technology Data Exchange (ETDEWEB)

Janisch, M. L. [Nesbitt Burns Research, Toronto, ON (Canada)

1996-12-31

Factors that influence the equity market in investment decisions vis-a-vis the oil sands/heavy oil industry were reviewed. The importance of financing methods (debt, royalty trusts, common equity), liquidity of investments, absolute vs. relative performance, comparative economics vis-a-vis conventional oil producers, oil prices, operating cost drivers (technology, natural gas costs, cost/availability of diluent), transportation and refining capacity, were summarized. In the final analysis, consistent economic success on a large scale, combined with an assessment of available alternatives, were considered to be the most likely motivators for portfolio managers. As a cautionary note, it was noted that traditionally, oil and gas investors have not been known to be in the forefront to invest in research and development.

How equity markets view heavy oil

International Nuclear Information System (INIS)

Janisch, M. L.

1996-01-01

Factors that influence the equity market in investment decisions vis-a-vis the oil sands/heavy oil industry were reviewed. The importance of financing methods (debt, royalty trusts, common equity), liquidity of investments, absolute vs. relative performance, comparative economics vis-a-vis conventional oil producers, oil prices, operating cost drivers (technology, natural gas costs, cost/availability of diluent), transportation and refining capacity, were summarized. In the final analysis, consistent economic success on a large scale, combined with an assessment of available alternatives, were considered to be the most likely motivators for portfolio managers. As a cautionary note, it was noted that traditionally, oil and gas investors have not been known to be in the forefront to invest in research and development

Weight and cost forecasting for advanced manned space vehicles

Science.gov (United States)

Williams, Raymond

1989-01-01

A mass and cost estimating computerized methology for predicting advanced manned space vehicle weights and costs was developed. The user friendly methology designated MERCER (Mass Estimating Relationship/Cost Estimating Relationship) organizes the predictive process according to major vehicle subsystem levels. Design, development, test, evaluation, and flight hardware cost forecasting is treated by the study. This methodology consists of a complete set of mass estimating relationships (MERs) which serve as the control components for the model and cost estimating relationships (CERs) which use MER output as input. To develop this model, numerous MER and CER studies were surveyed and modified where required. Additionally, relationships were regressed from raw data to accommodate the methology. The models and formulations which estimated the cost of historical vehicles to within 20 percent of the actual cost were selected. The result of the research, along with components of the MERCER Program, are reported. On the basis of the analysis, the following conclusions were established: (1) The cost of a spacecraft is best estimated by summing the cost of individual subsystems; (2) No one cost equation can be used for forecasting the cost of all spacecraft; (3) Spacecraft cost is highly correlated with its mass; (4) No study surveyed contained sufficient formulations to autonomously forecast the cost and weight of the entire advanced manned vehicle spacecraft program; (5) No user friendly program was found that linked MERs with CERs to produce spacecraft cost; and (6) The group accumulation weight estimation method (summing the estimated weights of the various subsystems) proved to be a useful method for finding total weight and cost of a spacecraft.

Cost of Capital when Dividends are Deductible

Directory of Open Access Journals (Sweden)

Ignacio Velez-Pareja

2011-09-01

Full Text Available Tax savings and the discount rate we use to calculate their value are involved in the calculation of cost of capital. Based on previous findings, we derive a general approach to cash flow valuation that take into account any kind of tax shields related to the financing decision of a firm and any date when they are earned. They can be used to introduce any type of externality that creates value through tax savings not captured by neither the cost of debt nor the cost of equity. This paper develops the formulations for the cost of capital when dividends, interest on equity or monetary correction of equity are deductible as it happens in Brazil. It shows that when properly done most known valuation methods are consistent and give identical results. Also, the paper argues that when dividends are tax deductible, optimal leverage is lower and equity value is higher.

Costs, equity, efficiency and feasibility of identifying the poor in Ghana's National Health Insurance Scheme: empirical analysis of various strategies.

NARCIS (Netherlands)

Aryeetey, G.C.N.O.; Jehu-Appiah, C.; Spaan, E.; Agyepong, I.; Baltussen, R.M.

2012-01-01

Objectives To analyse the costs and evaluate the equity, efficiency and feasibility of four strategies to identify poor households for premium exemptions in Ghana's National Health Insurance Scheme (NHIS): means testing (MT), proxy means testing (PMT), participatory wealth ranking (PWR) and

Capitals Cost and the Investments Actualisation Rate

Directory of Open Access Journals (Sweden)

Ion Stancu

2006-02-01

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

Capitals Cost and the Investments Actualisation Rate

Directory of Open Access Journals (Sweden)

Ion Stancu

2006-04-01

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

Designing for psychological change: individuals' reward and cost valuations in weight management.

Science.gov (United States)

Hsu, Anne; Blandford, Ann

2014-06-26

Knowledge of the psychological constructs that underlie behavior offers valuable design opportunities for persuasive systems. We use the decision theory, which describes how behavior is underpinned by reward-cost valuations, as a framework for investigating such psychological constructs to deliver design objectives for weight management technologies. We applied a decision theory-based analysis in the domain of weight management to understand the rewards and costs that surround individuals' weight management behaviors, with the aim of uncovering design opportunities for weight management technologies. We conducted qualitative interviews with 15 participants who were or had been trying to lose weight. Thematic analysis was used to extract themes that covered the rewards and costs surrounding weight management behaviors. We supplemented our qualitative study with a quantitative survey of 100 respondents investigating the extent to which they agreed with statements reflecting themes from the qualitative study. The primary obstacles to weight management were the rewards associated with unhealthy choices, such as the pleasures of unhealthy foods and unrestricted consumption in social situations, and the significant efforts required to change habits, plan, and exercise. Psychological constructs that supported positive weight management included feeling good after making healthy choices, being good to oneself, experiencing healthy yet still delicious foods, and receiving social support and encouraging messages (although opinions about encouraging messages was mixed). A rewards-costs driven enquiry revealed a wide range of psychological constructs that contribute to discouraging and supporting weight management. The constructs extracted from our qualitative study were verified by our quantitative survey, in which the majority of respondents also reported similar thoughts and feelings. This understanding of the rewards and costs surrounding weight management offers a range

A Recommitment Strategy for Long Term Private Equity Fund Investors

NARCIS (Netherlands)

G.J. de Zwart (Gerben); B. Frieser (Brian); D.J.C. van Dijk (Dick)

2007-01-01

textabstractThis paper develops a reinvestment strategy for private equity which aims to keep its portfolio weight equal to a desired strategic allocation, while taking into account the illiquid nature of private equity. Historical simulations (1980-2005) show that our dynamic strategy is capable of

RISIKO INVESTASI, BID-ASK SPREAD, DAN COST OF EQUITY CAPITAL DI PASAR MODAL INDONESIA

Directory of Open Access Journals (Sweden)

Agus Haryono

2017-03-01

Full Text Available A number of studies investigated how financial information affected investment decisions. The study extendedthis line of research by examining the effect of risk, proxied by price per share, number of shareholders, numberof dealers, trading volume, accounting risk and market risk measures on the bid ask spread. Further, theresearch tried to test the relationship between bid ask spread and cost of equity capital. The samples of thisresearch were the manufacturing companies listed at Indonesian Stock Exchange which shared the dividendfor 3 years; there were 40 companies. Data analysis technique used multiple regression analysis. The results ofregression provided evidence of statistically significant effect of price per share, market value, asset size andprice variability on bid ask spread. At last, there was a positive relationship between bid ask spread and cost ofequity capital

Organizing Equity Exchanges

Science.gov (United States)

Schaper, Torsten

In the last years equity exchanges have diversified their operations into business areas such as derivatives trading, post-trading services, and software sales. Securities trading and post-trading are subject to economies of scale and scope. The integration of these functions into one institution ensures efficiency by economizing on transactions costs.

DETERMINANTS OF RETURN ON EQUITY OF COOPERATIVE BANKS IN POLAND

Directory of Open Access Journals (Sweden)

Anna Bieniasz

2016-03-01

Full Text Available The aim of the study was to analyse the diversity of return on equity in the cooperative banks in Poland in 2010– 2014. The analysis was conducted using data of the Polish Financial Supervision Authority, on the basis of a modifi ed decomposition rate of return on equity. Assessment of the rate of return on equity was made in a size of banks, as determined by the value of assets. In addition, in order to determine the strength and direction of impact the individual components of the model on the formation of return on equity method was applied functional. The study suggests that cooperative banks eff ectively use the equity, because the rate of return on equity was signifi cantly higher than the rate of return on assets. The average return on assets in 2010–2014 was relatively lower in the largest banks and ranged from 0.7–0.9%, and the smallest banks return on assets was approximately 1%. In turn, the return on equity was higher at banks with major assets (over 200 million PLN. In 2013–2014 the rate of return both on assets and equity expressly declined. The main determinants of changes in return on equity were changing the multiplier reduction of profi t from banking activities by operating costs and costs of banking risk and return on assets, as well as measured result on banking activities.

Investigating the Influence Relationship Models for Stocks in Indian Equity Market: A Weighted Network Modelling Study.

Science.gov (United States)

Bhattacharjee, Biplab; Shafi, Muhammad; Acharjee, Animesh

2016-01-01

The socio-economic systems today possess high levels of both interconnectedness and interdependencies, and such system-level relationships behave very dynamically. In such situations, it is all around perceived that influence is a perplexing power that has an overseeing part in affecting the dynamics and behaviours of involved ones. As a result of the force & direction of influence, the transformative change of one entity has a cogent aftereffect on the other entities in the system. The current study employs directed weighted networks for investigating the influential relationship patterns existent in a typical equity market as an outcome of inter-stock interactions happening at the market level, the sectorial level and the industrial level. The study dataset is derived from 335 constituent stocks of 'Standard & Poor Bombay Stock Exchange 500 index' and study period is 1st June 2005 to 30th June 2015. The study identifies the set of most dynamically influential stocks & their respective temporal pattern at three hierarchical levels: the complete equity market, different sectors, and constituting industry segments of those sectors. A detailed influence relationship analysis is performed for the sectorial level network of the construction sector, and it was found that stocks belonging to the cement industry possessed high influence within this sector. Also, the detailed network analysis of construction sector revealed that it follows scale-free characteristics and power law distribution. In the industry specific influence relationship analysis for cement industry, methods based on threshold filtering and minimum spanning tree were employed to derive a set of sub-graphs having temporally stable high-correlation structure over this ten years period.

The Marginal Damage Costs of Different Greenhouse Gases: An Application of FUND

NARCIS (Netherlands)

Waldhoff, S.; Anthoff, D.; Rose, S.; Tol, R.S.J.

2014-01-01

The authors use FUND 3.9 to estimate the social cost of four greenhouse gases—carbon dioxide, methane, nitrous oxide, and sulphur hexafluoride—with sensitivity tests for carbon dioxide fertilization, terrestrial feedbacks, climate sensitivity, discounting, equity weighting, and socioeconomic and

A randomized controlled trial testing an Internet delivered cost-benefit approach to weight loss maintenance.

Science.gov (United States)

Leahey, Tricia M; Fava, Joseph L; Seiden, Andrew; Fernandes, Denise; Doyle, Caroline; Kent, Kimberly; La Rue, Molly; Mitchell, Marc; Wing, Rena R

2016-11-01

Weight loss maintenance is a significant challenge in obesity treatment. During maintenance the "costs" of adhering to weight management behaviors may outweigh the "benefits." This study examined the efficacy of a novel approach to weight loss maintenance based on modifying the cost-benefit ratio. Individuals who achieved a 5% weight loss (N=75) were randomized to one of three, 10-month maintenance interventions. All interventions were delivered primarily via the Internet. The Standard arm received traditional weight maintenance strategies. To increase benefits, or rewards, for maintenance behaviors, the two cost-benefit intervention conditions received weekly monetary rewards for self-monitoring and social reinforcement via e-coaching. To decrease behavioral costs (boredom) and increase novelty, participants in the cost-benefit conditions also monitored different evidence-based behaviors every two weeks (e.g., Weeks 1 & 2: steps; Week 3 & 4: red foods). The primary difference between the cost-benefit interventions was type of e-coach providing social reinforcement: Professional (CB Pro) or Peer (CB Peer). Study procedures took place in Providence, RI from 2013 to 2014. Retention was 99%. There were significant group differences in weight regain (p=.01). The Standard arm gained 3.5±5.7kg. In contrast, participants in CB Pro and CB Peer lost an additional 1.8±7.0kg and 0.5±6.4kg, respectively. These results suggest that an Internet delivered cost-benefit approach to weight loss maintenance may be effective for long-term weight control. In addition, using peer coaches to provide reinforcement may be a particularly economic alternative to professionals. These data are promising and provide support for a larger, longer trial. Copyright © 2016 Elsevier Inc. All rights reserved.

A STUDY TO INDICATE THE IMPORTANCE OF CONSUMER BASED-BRAND EQUITY ON CONSUMER PERCEPTION OF BRAND

OpenAIRE

IPOGAH, UKPEBOR PRISCILLIA AND BIBIANA

2008-01-01

Strong brand equity has become a very important factor that influences consumer’s perceptions of a brand. Success in brand management arises from understanding and managing brand equity correctly to produce strong attributes that will influence consumers when making their choices. This thesis focuses on the importance of these dimensions (brand awareness, brand loyalty, brand image and perceived quality) of customer-based brand equity on consumer’s perceptions of a brand. This is based on the...

Private Equity and Regulatory Capital

NARCIS (Netherlands)

Bongaerts, D.; Charlier, E.

2008-01-01

Regulatory Capital requirements for European banks have been put forward in the Basel II Capital Framework and subsequently in the Capital Requirements Directive (CRD) of the EU. We provide a detailed discussion of the capital requirements for private equity investments under the simple risk weight

The Effects of Tax Avoidance, Accrual Earnings Management, Real Earnings Management, and Capital Intensity on the Cost of Equity

Directory of Open Access Journals (Sweden)

Amrie Firmansyah

2018-03-01

Full Text Available This study aims to examine the effects of tax avoidance, accrual profit management, real profit management, and capital intensity on equity costs. The population of this study is a manufacturing company listed on the Indonesia Stock Exchange which amounted to 146 companies. The sampling technique used was purposive sampling and resulted in 420 units of analysis. This type of research is quantitative causality by performing hypothesis testing analysis is done by using multiple linear regression model. The findings of this research are tax avoidance will add to the risks that must be borne by investors thus increasing uncertainty over their investment. Investors consider that accrual profit management actions are opportunistic as risk-taking actions as well as real profit management actions. While on Capital Intensity, investors assume the information on the company’s fixed assets is not useful in making investment decisions. The conclusions that can be taken are tax avoidance, accrual profit management, and earnings management real positive to the cost of equity. However, capital intensity has a negative effect.

Marketing assets: relating brand equity and customer equity

OpenAIRE

Romero, Jaime; Yagüe, María J.

2016-01-01

Purpose: Brand equity and customer equity are inextricably linked. Some authors propose that marketing activities build these intangible assets simultaneously. In contrast, others suggest that brand equity is an antecedent of customer equity. In this research, we aim to shed light about the relationship between brand equity and customer equity, by empirically testing these two alternative explanations. Design/methodology/approach: We propose four research models that reflect these two alte...

Level of voluntary disclosure and the cost of capital of Brazilian companies: 2008 to 2012

Directory of Open Access Journals (Sweden)

Ariana Ballestero

2016-12-01

Full Text Available This study analyzed whether the level of voluntary disclosure in the Brazilian market affects the cost of capital of companies listed on Bovespa during the period covering 2008 through 2012.  The sample was composed of 46 Brazilian non-financial institutions, building on and complementing previous research such as that carried out by Lima, Lima, Favero and Galdi (2007, Murcia and Santos (2009a, and Li and Yang (2013. The panel data regression model is employed to relate the independent variables with the following dependent variables: Cost of Equity, Cost of Debt and Weighted Average Cost of Capital. Findings permit the conclusion that some voluntary disclosure practices influence the cost of capital, i.e., when a company chooses to voluntarily disclose information in its annual reports, this information can affect its cost of equity and cost of debt.

An evaluation of airline beta values and their application in calculating the cost of equity capital.

OpenAIRE

Turner, Sheelah; Morrell, Peter

2003-01-01

This paper focuses on the calculation of the cost of equity capital in a sample of airlines, in comparison to industry-calculated values. The approach usually taken is to apply the Capital Asset Pricing Model to airline stock prices and market indices. The research shows that the calculated b values are sensitive to the precise methodology and calculations used. Further, the low regression model fits indicate the Capital Asset Pricing Model may not be the most suitable model for b value calcul...

Computerized cost estimation spreadsheet and cost data base for fusion devices

International Nuclear Information System (INIS)

Hamilton, W.R.; Rothe, K.E.

1985-01-01

Component design parameters (weight, surface area, etc.) and cost factors are input and direct and indirect costs are calculated. The cost data base file derived from actual cost experience within the fusion community and refined to be compatible with the spreadsheet costing approach is a catalog of cost coefficients, algorithms, and component costs arranged into data modules corresponding to specific components and/or subsystems. Each data module contains engineering, equipment, and installation labor cost data for different configurations and types of the specific component or subsystem. This paper describes the assumptions, definitions, methodology, and architecture incorporated in the development of the cost estimation spreadsheet and cost data base, along with the type of input required and the output format

Prominent Determinants of Consumer-Based Brand Equity

Directory of Open Access Journals (Sweden)

Elisa Battistoni

2013-08-01

Full Text Available In this paper we investigate the most prominent drivers of brand equity, from a consumerbased point of view. We present a new approach for measuring brand equity, which can be applied regardless of the brand sector and is based on the Analytic Hierarchy Process. This approach has the main advantage of allowing for comparisons to be made between non‐directly measurable elements and also has the advantage of enabling the ranking of intangible criteria, such as consumers’ feelings or purchase intentions. We focus on the fashion industry, since we believe in the higher value of our approach when applied to brands which offer products with less tangible characteristics. Thanks to a case study – which involved about 250 interviewees – we succeed in finding and prioritizing the elements which can have an impact on the brand value. We also provide a global ranking for three apparel brands: Gap, H&M and Zara. The results from our model are consistent with other popular ratings and can be extremely useful for brand managers.

The Economics of Independent Living: Efficiency, Equity and Ethics.

Science.gov (United States)

O'Shea, E.; Kennelly, B.

1996-01-01

This article explores the meaning of efficiency and equity in the context of independent living programs for people with disabilities. Conflicts in costs and trade-offs in various scenarios of the efficiency/equity equation are examined in terms of theories of utilitarianism, contractarianism, justice and mutual advantage, and justice as…

Marketing assets: Relating brand equity and customer equity

Directory of Open Access Journals (Sweden)

Jaime Romero

2016-03-01

Full Text Available Purpose: Brand equity and customer equity are inextricably linked. Some authors propose that marketing activities build these intangible assets simultaneously. In contrast, others suggest that brand equity is an antecedent of customer equity. In this research, we aim to shed light about the relationship between brand equity and customer equity, by empirically testing these two alternative explanations. Design/methodology/approach: We propose four research models that reflect these two alternatives explanations regarding the link between brand equity and customer equity. In order to estimate these models we employ Structural Equations Modelling. We measure model variables using data collected through a survey to marketing managers of services companies that operate in Spain. We compare these four research models in terms of explanatory power and goodness of fit. Findings: Our results indicate that the models that correspond to the simultaneity approach have a higher explanatory power and goodness of fit than the models that suggest that brand equity is an antecedent of customer equity, thus supporting that these intangible assets are built by marketing activities at the same time. Research limitations/implications: Our results recommend caution when interpreting previous research about the effects of brand (customer equity, as they might indeed correspond to customer (brand management. Similarly, future research focusing on customer and brand management need to take into account both managerial areas in their studies. Practical implications: From a practitioners’ point of view, our findings suggest adopting a brand-customer portfolio approach to enhance company profitability. Similarly, we derive implications for firm valuation processes, which incorporate brand equity and customer equity in their calculations. Originality/value: We empirically study the relationship between brand equity and customer equity, while previous research has analyzed

Compact, Light-weight and Cost-effective Microscope based on Lensless Incoherent Holography for Telemedicine Applications

Science.gov (United States)

Mudanyali, Onur; Tseng, Derek; Oh, Chulwoo; Isikman, Serhan O.; Sencan, Ikbal; Bishara, Waheb; Oztoprak, Cetin; Seo, Sungkyu; Khademhosseini, Bahar; Ozcan, Aydogan

2010-01-01

Despite the rapid progress in optical imaging, most of the advanced microscopy modalities still require complex and costly set-ups that unfortunately limit their use beyond well equipped laboratories. In the meantime, microscopy in resource-limited settings has requirements significantly different from those encountered in advanced laboratories, and such imaging devices should be cost-effective, compact, light-weight and appropriately accurate and simple to be usable by minimally trained personnel. Furthermore, these portable microscopes should ideally be digitally integrated as part of a telemedicine network that connects various mobile health-care providers to a central laboratory or hospital. Toward this end, here we demonstrate a lensless on-chip microscope weighing ~46 grams with dimensions smaller than 4.2cm × 4.2cm × 5.8cm that achieves sub-cellular resolution over a large field of view of ~24 mm2. This compact and light-weight microscope is based on digital in-line holography and does not need any lenses, bulky optical/mechanical components or coherent sources such as lasers. Instead, it utilizes a simple light-emitting-diode (LED) and a compact opto-electronic sensor-array to record lensless holograms of the objects, which then permits rapid digital reconstruction of regular transmission or differential interference contrast (DIC) images of the objects. Because this lensless incoherent holographic microscope has orders-of-magnitude improved light collection efficiency and is very robust to mechanical misalignments it may offer a cost-effective tool especially for telemedicine applications involving various global health problems in resource limited settings. PMID:20401422

Discounting human lives: Uranium and global equity

International Nuclear Information System (INIS)

Goldman, B.A.

1993-01-01

Long-term, global environmental health risks complicate efforts to evaluate the efficiency and equity of economic activities from a public welfare perspective. This study sets out a practical framework based on the theory of neoclassical welfare economics for evaluating whether an economic activity yields such inefficient or inequitable net effects to justify government intervention from a variety of decision-making perspectives. It applies this empirical approach to the case of public policies that encouraged uranium production (the mining, milling, and refining of uranium ore) near Elliot Lake and Blind River in Northern Ontario. The analysis tests the two-fold hypothesis that if future negative externalities of production are considered along with past net effects, the these policies result in (1) an inefficient allocation of economic resources according to the potential Pareto criterion, and (2) an inequitable distribution of impacts according to Rawls' maximin criterion. The analytical framework to test these hypotheses has three parts: Risk-cost-benefit analysis, distributions analysis, and efficiency and equity analysis. Quantitative impacts are derived from empirical estimates of cost and benefit streams during 1956 to 1990, and modelled future cancer death costs. Net effects are aggregated to nine observations across three dimensions: Geographic, intergenerational, and social. Qualitative observations are provided about the boom-and-bust uranium economy, environmental burdens, and other unquantifiable impacts. The results illustrate how underlying normative assumptions overwhelm other aspects of efficiency and equity analyses of long-term, global environmental changes. These assumptions appear in discounting equations that ultimately derive from a priori allocations of rights to natural assets and corollary duties to protect such rights. More than two-thirds of the discounting scenarios yield inefficient outcomes and over ninety percent are inequitable

Effects of independently altering body weight and body mass on the metabolic cost of running.

Science.gov (United States)

Teunissen, Lennart P J; Grabowski, Alena; Kram, Rodger

2007-12-01

The metabolic cost of running is substantial, despite the savings from elastic energy storage and return. Previous studies suggest that generating vertical force to support body weight and horizontal forces to brake and propel body mass are the major determinants of the metabolic cost of running. In the present study, we investigated how independently altering body weight and body mass affects the metabolic cost of running. Based on previous studies, we hypothesized that reducing body weight would decrease metabolic rate proportionally, and adding mass and weight would increase metabolic rate proportionally. Further, because previous studies show that adding mass alone does not affect the forces generated on the ground, we hypothesized that adding mass alone would have no substantial effect on metabolic rate. We manipulated the body weight and body mass of 10 recreational human runners and measured their metabolic rates while they ran at 3 m s(-1). We reduced weight using a harness system, increased mass and weight using lead worn about the waist, and increased mass alone using a combination of weight support and added load. We found that net metabolic rate decreased in less than direct proportion to reduced body weight, increased in slightly more than direct proportion to added load (added mass and weight), and was not substantially different from normal running with added mass alone. Adding mass alone was not an effective method for determining the metabolic cost attributable to braking/propelling body mass. Runners loaded with mass alone did not generate greater vertical or horizontal impulses and their metabolic costs did not substantially differ from those of normal running. Our results show that generating force to support body weight is the primary determinant of the metabolic cost of running. Extrapolating our reduced weight data to zero weight suggests that supporting body weight comprises at most 74% of the net cost of running. However, 74% is probably an

Creati ng Customer - Based Brand Equity and Measuring Brand Perception of Tourists who Travel for Thermal Tourism: Balcova Survey

Directory of Open Access Journals (Sweden)

Melike Gül

2015-09-01

Full Text Available Creating customer-based brand equity is one of the most effective tools for achieving competitive advantage in term of thermal tourism businesses that operating under fierce competition in the last years. The aim of the study is to measure customer-based brand equity perception of customers who accommodate in thermal tourism facilities and identify relationship between brand equity dimensions and size with the other dimensions of each. The survey was conducted on 216 domestic and 184 foreign tourists staying at Balcova Thermal Resort which is located in the Balcova Thermal Destination. Exploratory Factor Analysis and Path Analysis was applied the data. Findings show that there are significant and positive relationship between the size of each customer-based brand equity dimensions. In additions, in order to create ustomer-based brand equity for thermal resorts, some recommendations developed on micro, macro and academic level

Weighted Activity and Costing of Surveillance and Control in Animal Epidemiology

Directory of Open Access Journals (Sweden)

Duboz Raphaël

2013-01-01

Full Text Available Activity based modeling and simulation is a very promising field. It has recently demonstrated its potential from modeling software development methods [9] to the design of low energy sensors. In this position paper, I would like to initiate a reflexion on the use of the weighted activity in the context of financial costing using the formulation recently proposed by X. Hu and B.P. Zeigler [5]. I propose here to formalize a recent approach of costing, the Time-Driven Activity Based Costing [3], using the theoretical modeling framework initiated by B.P. Zeigler [6]. I argue that this specification can potentially improve the traditional model of Time-Driven Activity Based Costing. I illustrate the approach in the context of surveillance and control in animal epidemiology. The demonstration of its effectiveness is not done in this position paper. Nevertheless, as the existing costing systems are designed to support decision making in business management, the scenario based approach proposed in this paper should be very useful to support decisions in complex management situations.

Análise da relação entre gerenciamento de resultados e custo de capital em empresas brasileiras listadas na BM&FBOVESPA = Analysis of the Relationship Between Results-Based Management and Cost of Equity in Brazilian Companies Listed in BM&FBOVESPA

Directory of Open Access Journals (Sweden)

Geovanne Dias de Moura

2016-04-01

Full Text Available O estudo objetivou analisar a relação entre o gerenciamento de resultados contábeis e o custo de capital próprio e de terceiros em empresas brasileiras listadas na BM&FBovespa. Para tal, realizou-se pesquisa descritiva, conduzida por meio de análise documental e abordagem quantitativa dos dados referentes ao período de 2010 a 2013 de uma amostra composta de 217 empresas. Os resultados evidenciaram que houve elevação do custo de capital próprio. No que tange ao custo de capital de terceiros, quando analisado por meio da variável Kd, constatou-se que ocorreu uma pequena redução de 31,81% para 28,37%. Ao analisar o custo de capital de terceiros, por meio da variável Ki, constatou-se que houve aumento de 23,94% para 30,13%. Os resultados evidenciaram destaque para os gerenciamentos de baixas proporções, principalmente a partir do ano de 2011. Também entre as empresas analisadas aquelas com menor gerenciamento de resultados não apresentavam menor custo de capital próprio e de terceiros. The study aimed at analyzing the relationship between results-based management and the company's cost of equity and its third party in Brazilian companies listed in BM&FBovespa. To this end, a descriptive research was conducted through documentary analysis and quantitative analysis of the data from 2010 to 2013 from a sample of 217 companies. The results revealed that the cost of equity rose in the period of 2010 to 2013. With respect to the cost of third party, when analyzed by Kd variable, it was found out a slight decrease from 31,81% to 28,37%. When analyzing the cost of third party by Ki variable, it was noticed an increase from 23,94% to 30,13% between 2010 and 2013. As for management, the results showed significance for the low proportion managements, especially since 2011. The results also showed that, among the analyzed companies, those with lower results-based management did not have lower cost of equity and third party.

Low-cost, low-weight CNG cylinder development. Final report

Energy Technology Data Exchange (ETDEWEB)

Richards, Mark E.; Melford, K.; Wong, J.; Gambone, L.

1999-09-01

This program was established to develop and commercialize new high-strength steel-lined, composite hoop-wrapped compressed natural gas (CNG) cylinders for vehicular applications. As much as 70% of the cost of natural gas vehicles can be related to on-board natural gas storage costs. The cost and weight targets for this program represent significant savings in each characteristic when compared to comparable containers available at the initiation of the program. The program objectives were to optimize specific weight and cost goals, yielding CNG cylinders with dimensions that should, allowing for minor modifications, satisfy several vehicle market segments. The optimization process encompassed material, design, and process improvement. In optimizing the CNG cylinder design, due consideration was given to safety aspects relative to national, international, and vehicle manufacturer cylinder standards and requirements. The report details the design and development effort, encompassing plant modifications, material selection, design issues, tooling development, prototype development, and prototype testing. Extenuating circumstances prevented the immediate commercialization of the cylinder designs, though significant progress was made towards improving the cost and performance of CNG cylinders. A new low-cost fiber was successfully employed while the weight target was met and the cost target was missed by less than seven percent.

Comprehensive Evaluation of Car-Body Light-Weighting Scheme Based on LCC Theory

Directory of Open Access Journals (Sweden)

Han Qing-lan

2016-01-01

Full Text Available In this paper, a comprehensive evaluation model of light-weighting scheme is established, which is based on three dimensions, including the life cycle costs of the resource consumed by the designed objects (LCC, willingness to pay for the environmental effect of resource consumption (WTP and performance (P. Firstly, cost of each stage is determined. Then, based on the resource classification, which is based on cost elements, determine the material list needed, and apply WTP weight coefficient to monetize life cycle environmental impact and obtain the life cycle comprehensive cost of designed scheme (TCC. In the next step Performance (P index is calculated to measure the value of the life cycle costs by applying AHP and SAW method, integrated (TCC and (P to achieve comprehensive evaluation of light-weighting scheme. Finally, the effectiveness of the evaluation model is verified by the example of car engine hood.

Assessing Cost-Effectiveness in Obesity (ACE-Obesity: an overview of the ACE approach, economic methods and cost results

Directory of Open Access Journals (Sweden)

Swinburn Boyd

2009-11-01

Full Text Available Abstract Background The aim of the ACE-Obesity study was to determine the economic credentials of interventions which aim to prevent unhealthy weight gain in children and adolescents. We have reported elsewhere on the modelled effectiveness of 13 obesity prevention interventions in children. In this paper, we report on the cost results and associated methods together with the innovative approach to priority setting that underpins the ACE-Obesity study. Methods The Assessing Cost Effectiveness (ACE approach combines technical rigour with 'due process' to facilitate evidence-based policy analysis. Technical rigour was achieved through use of standardised evaluation methods, a research team that assembles best available evidence and extensive uncertainty analysis. Cost estimates were based on pathway analysis, with resource usage estimated for the interventions and their 'current practice' comparator, as well as associated cost offsets. Due process was achieved through involvement of stakeholders, consensus decisions informed by briefing papers and 2nd stage filter analysis that captures broader factors that influence policy judgements in addition to cost-effectiveness results. The 2nd stage filters agreed by stakeholders were 'equity', 'strength of the evidence', 'feasibility of implementation', 'acceptability to stakeholders', 'sustainability' and 'potential for side-effects'. Results The intervention costs varied considerably, both in absolute terms (from cost saving [6 interventions] to in excess of AUD50m per annum and when expressed as a 'cost per child' estimate (from Conclusion The use of consistent methods enables valid comparison of potential intervention costs and cost-offsets for each of the interventions. ACE-Obesity informs policy-makers about cost-effectiveness, health impact, affordability and 2nd stage filters for important options for preventing unhealthy weight gain in children. In related articles cost-effectiveness results and

The Tragedy of Maldistribution: Climate, Sustainability, and Equity

Directory of Open Access Journals (Sweden)

Elizabeth A. Stanton

2012-03-01

Full Text Available This essay is an initial exploration of the dimensions of the equity/sustainability linkage from the perspective of public goods analysis. Sustainability requires an abundance of public goods. Where these commons lack governance, sustainability is at risk. Equity is a critical component of sustainability that can itself be viewed as a public good, subject to deterioration (maldistribution when left ungoverned. As is the case for so many forms of environmental degradation, the private benefits of maldistribution tend to overshadow the larger social costs, and the result is a degradation of equity. This article sketches out the analogy of equity as a public good by: examining the evidence regarding current and historical income equality within and between countries; introducing the characteristics of public goods and grounding equity in this idiom; reviewing several theories explaining the sub-optimal provision of environmental goods; applying these theoretical frameworks to the case of equity, with an examination of the potential causes of, and solutions to, maldistribution; and, finally, addressing equity’s critical role as a component of sustainability in the case of climate change, with implications for climate policy.

Confronting the Equity "Learning Problem" through Practitioner Inquiry

Science.gov (United States)

Ching, Cheryl D.

2018-01-01

This study examined how participation in an inquiry-based workshop on assessing course syllabi for equity-mindedness and cultural inclusivity fostered community college math faculty learning about racial/ethnic equity and equity-mindedness. Findings show that the workshop prompted reflection on what equity means and how participants' teaching…

Health Equity Talk: Understandings of Health Equity among Health Leaders

Directory of Open Access Journals (Sweden)

Bernadette M. Pauly

2017-11-01

Full Text Available Introduction: Reducing health inequities is a stated goal of health systems worldwide. There is widespread commitment to health equity among public health leaders and calls for reorientation of health systems towards health equity. As part of the Equity Lens in Public Health (ELPH program of research, public health decision makers and researchers in British Columbia collaborated to study the application of a health equity lens in a time of health system renewal. We drew on intersectionality, complexity and critical social justice theories to understand how participants construct health equity and apply a health equity lens as part of public health renewal. Methods: 15 focus groups and 16 individual semi-structured qualitative interviews were conducted with 55 health system leaders. Data were analyzed using constant comparative analysis to explore how health equity was constructed in relation to understandings and actions. Results: Four main themes were identified in terms of how health care leaders construct health equity and actions to reduce health inequities: (1 population health, (2 determinants of health, and (3 accessibility and (4 challenges of health equity talk. The first three aspects of health equity talk reflect different understandings of health equity rooted in vulnerability (individual versus structural, determinants of health (material versus social determinants, and appropriate health system responses (targeted versus universal responses. Participants identified that talking about health equity in the health care system, either inside or outside of public health, is a ‘challenging conversation’ because health equity is understood in diverse ways and there is little guidance available to apply a health equity lens. Conclusions: These findings reflect the importance of creating a shared understanding of health equity within public health systems, and providing guidance and clarity as to the meaning and application of a health

Fair Value Accounting and the Cost of Equity Capital: The Moderating Effect of Risk Disclosure

Directory of Open Access Journals (Sweden)

Dignah Ashwag

2017-01-01

Full Text Available Evidence thus far suggests fair value accounting poses risk and affects firms’ returns in some ways. This research, on a sample of Asian banks, improves the understanding of the information risk effect of fair value accounting by examining the moderating role of risk disclosure in the relationship between fair value accounting and the cost of equity capital. The results from a generalised method of moments on dynamic panel data analysis, show that risk disclosure mitigates the asymmetric information problem. Thus the findings contribute towards the standard setters’ effort in improving the practice of fair value accounting, and suggest that there are benefits in mandating disclosure especially for banks.

Brand Equity – Measuring Corporate Brand Strength in the Swedish Smartphone Market; Dimensions of Corporate Brand Equity from a Consumer Perspective

OpenAIRE

Lökken, Andreas; Nayar, Malini; Runering, Maria

2012-01-01

This study deals with the concept of brand equity composition in the Swedish smartphone market. The three dimensions used to describe brand equity are based on Aaker’s definition of consumer based brand equity namely; brand awareness, brand loyalty and perceived quality. The corporate brands represented on the market are analyzed with regards to consumer rating and brand equity composition using a proven theoretical model and a standardized questionnaire. The findings in this study indicate t...

Process-based Cost Estimation for Ramjet/Scramjet Engines

Science.gov (United States)

Singh, Brijendra; Torres, Felix; Nesman, Miles; Reynolds, John

2003-01-01

Process-based cost estimation plays a key role in effecting cultural change that integrates distributed science, technology and engineering teams to rapidly create innovative and affordable products. Working together, NASA Glenn Research Center and Boeing Canoga Park have developed a methodology of process-based cost estimation bridging the methodologies of high-level parametric models and detailed bottoms-up estimation. The NASA GRC/Boeing CP process-based cost model provides a probabilistic structure of layered cost drivers. High-level inputs characterize mission requirements, system performance, and relevant economic factors. Design alternatives are extracted from a standard, product-specific work breakdown structure to pre-load lower-level cost driver inputs and generate the cost-risk analysis. As product design progresses and matures the lower level more detailed cost drivers can be re-accessed and the projected variation of input values narrowed, thereby generating a progressively more accurate estimate of cost-risk. Incorporated into the process-based cost model are techniques for decision analysis, specifically, the analytic hierarchy process (AHP) and functional utility analysis. Design alternatives may then be evaluated not just on cost-risk, but also user defined performance and schedule criteria. This implementation of full-trade study support contributes significantly to the realization of the integrated development environment. The process-based cost estimation model generates development and manufacturing cost estimates. The development team plans to expand the manufacturing process base from approximately 80 manufacturing processes to over 250 processes. Operation and support cost modeling is also envisioned. Process-based estimation considers the materials, resources, and processes in establishing cost-risk and rather depending on weight as an input, actually estimates weight along with cost and schedule.

Cost-effectiveness of a Population-based Lifestyle Intervention to Promote Healthy Weight and Physical Activity in Non-attenders of Cardiac Rehabilitation.

Science.gov (United States)

Cheng, Qinglu; Church, Jody; Haas, Marion; Goodall, Stephen; Sangster, Janice; Furber, Susan

2016-03-01

To evaluate the long-term cost-effectiveness of two home-based cardiac rehabilitation (CR) interventions (Healthy Weight (HW) and Physical Activity (PA)) for patients with cardiovascular disease (CVD), who had been referred to cardiac rehabilitation (CR) but had not attended. The interventions consisted of pedometer-based telephone coaching sessions on weight, nutrition and physical activity (HW group) or physical activity only (PA group) and were compared to a control group who received information brochures about physical activity. A cost-effectiveness analysis was conducted using data from two randomised controlled trials. One trial compared HW to PA (PANACHE study), and the second compared PA to usual care. A Markov model was developed which used one risk factor, body mass index (BMI) to determine the CVD risk level and mortality. Patient-level data from the trials were used to determine the transitions to CVD states and healthcare related costs. The model was run for separate cohorts of males and females. Univariate and probabilistic sensitivity analysis were conducted to test the robustness of the results. Given a willingness-to-pay threshold of $50,000/QALY, in the long run, both the HW and PA interventions are cost-effective compared with usual care. While the HW intervention is more effective, it also costs more than both the PA intervention and the control group due to higher intervention costs. However, the HW intervention is still cost-effective relative to the PA intervention for both men and women. Sensitivity analysis suggests that the results are robust. The results of this paper provide evidence of the long-term cost-effectiveness of home-based CR interventions for patients who are referred to CR but do not attend. Both the HW and PA interventions can be recommended as cost-effective home-based CR programs, especially for people lacking access to hospital services or who are unable to participate in traditional CR programs. Copyright © 2015

Is Nordic Private Equity Different?

DEFF Research Database (Denmark)

Spliid, Robert

2013-01-01

Most research on private equity is based on American theory, tested on American empirical data. Nevertheless, the private equity concept has gained a solid foothold in the Nordic region, especially in Sweden. This article analyzes whether American-biased assumptions prevail in the Nordic countries...

Computerized cost estimation spreadsheet and cost data base for fusion devices

International Nuclear Information System (INIS)

Hamilton, W.R.; Rothe, K.E.

1985-01-01

An automated approach to performing and cataloging cost estimates has been developed at the Fusion Engineering Design Center (FEDC), wherein the cost estimate record is stored in the LOTUS 1-2-3 spreadsheet on an IBM personal computer. The cost estimation spreadsheet is based on the cost coefficient/cost algorithm approach and incorporates a detailed generic code of cost accounts for both tokamak and tandem mirror devices. Component design parameters (weight, surface area, etc.) and cost factors are input, and direct and indirect costs are calculated. The cost data base file derived from actual cost experience within the fusion community and refined to be compatible with the spreadsheet costing approach is a catalog of cost coefficients, algorithms, and component costs arranged into data modules corresponding to specific components and/or subsystems. Each data module contains engineering, equipment, and installation labor cost data for different configurations and types of the specific component or subsystem. This paper describes the assumptions, definitions, methodology, and architecture incorporated in the development of the cost estimation spreadsheet and cost data base, along with the type of input required and the output format

Access, equity and costs of induced abortion services in Australia: a cross-sectional study.

Science.gov (United States)

Shankar, Mridula; Black, Kirsten I; Goldstone, Philip; Hussainy, Safeera; Mazza, Danielle; Petersen, Kerry; Lucke, Jayne; Taft, Angela

2017-06-01

To examine access and equity to induced abortion services in Australia, including factors associated with presenting beyond nine weeks gestation. Cross-sectional survey of 2,326 women aged 16+ years attending for an abortion at 14 Dr Marie clinics. Associations with later presentation assessed using multivariate logistic regression. Over a third of eligible women opted for a medical abortion. More than one in 10 (11.2%) stayed overnight. The median Medicare rebated upfront cost of a medical abortion was $560, compared to $470 for a surgical abortion at ≤9 weeks. Beyond 12 weeks, costs rose considerably. More than two-thirds (68.1%) received financial assistance from one or more sources. Women who travelled ≥4 hours (AdjOR: 3.0, 95%CI 1.2-7.3), had no prior knowledge of the medical option (AdjOR: 2.1, 95%CI 1.4-3.1), had difficulty paying (AdjOR: 1.5, 95%CI 1.2-1.9) and identified as Aboriginal and/or Torres Strait Islander (AdjOR: 2.1, 95%CI 1.2-3.4) were more likely to present ≥9 weeks. Abortion costs are substantial, increase at later gestations, and are a financial strain for many women. Poor knowledge, geographical and financial barriers restrict method choice. Implications for public health: Policy reform should focus on reducing costs and enhancing early access. © 2017 The Authors.

Environmental costs and resource planning consequences: New England electric's rating and weighting approach

International Nuclear Information System (INIS)

Destribats, A.F.; Hutchinson, M.A.; Stout, T.M.; White, D.S.

1990-01-01

In mid 1989, the New England Electric System (NEES or Company) began an effort to reflect the potential environmental externalities of new resources in its long range planning process. Having examined several methods for incorporating externalities, including cost of control, the Company adopted a rating and weighting approach. Not strictly quantitative nor qualitative, the rating and weighting approach provided a means to apply an environmental score to all new resources considered for the Company's long range resource plan, NEESPLAN 1990. A maximum environmental cost penalty of fifteen percent was applied to the resource considered for inclusion in the plan that posed the highest amount of potential environmental degradation. All other resources received a smaller penalty that was based on the ratio of their environmental score to the highest score. Application of this penalty tended to improve the cost-effectiveness of demand-side programs and worsen some supply-side options' cost-effectiveness. Both the rating and weighting approach employed by NEES and its application in the long range planning process have been the subject of several critical reviews. Having stated that the advantages of the rating and weighting approach include its easy reviewability and flexibility to be modified as better information becomes available, the Company has subsequently revised the approach to address the comments made by reviewers. The purpose of this paper is to describe the rating and weighting approach, its recent revisions, and the effect of the revised methodology on the Company's long range resource plan

The Effects of Tax Avoidance, Accrual Earnings Management, Real Earnings Management, and Capital Intensity on the Cost of Equity

OpenAIRE

Amrie Firmansyah; Ahmad Sigid Febriyanto

2018-01-01

This study aims to examine the effects of tax avoidance, accrual profit management, real profit management, and capital intensity on equity costs. The population of this study is a manufacturing company listed on the Indonesia Stock Exchange which amounted to 146 companies. The sampling technique used was purposive sampling and resulted in 420 units of analysis. This type of research is quantitative causality by performing hypothesis testing analysis is done by using multiple linear regressio...

Private equity and venture capitalists' investment criteria in the Czech Republic

Directory of Open Access Journals (Sweden)

Marek Zinecker

2010-01-01

Full Text Available For investment decision making to be rational, the existence of investment criteria is required. In the theory of financial management, the effectiveness of investment is traditionally judged by the degree to which an investment proposal contributes to achieving the main financial goal of business, i.e. market value maximization of the firm.So far, potential businesses for Private Equity and Venture Capital financing in the Czech Republic have not had information regarding investment criteria and their significance, when considered by investors, at their disposal, which is due to absence of relevant research results.This article presents results of the research project whose aim is to establish which criteria are considered to perform an essential role in the selection of business proposals by firms investing Private Equity and Venture Capital in the Czech Republic as well as the most common reasons for rejecting the proposals. Based on practical experience of financing by Private Equity and Venture Capital, the research made it possible to identify the most significant criteria, namely characterization of mana­gement, market, product and the rate of investment capital appreciation. The results of the research are consequently compared with findings which were published in similar studies undertaken in the past (e.g. Tyebjee, Bruno, 1984; Fried, Hisrich, 1994; MacMillan et al., 1985, 1987; Muzyka et al., 1996; Eisele, 2002.The research supports the thesis that, when considering business proposals, above-average weight is attached to criteria concerning the characterization of management, i.e. experience and competencies in all stages of business life cycle. Nevertheless, the fulfilment of the criteria is not sufficient for investors to evaluate a business proposal positively. They also place an emphasis on selected criteria related to market and product. By publishing empirical data, an important signal regarding up-to-date evaluative criteria

Consumer Based-Brand Equity

OpenAIRE

Ekinci, Yuksel

2014-01-01

Research Objectives The objectives of this study are to: - Assess external validity of Nam et al.’s (2011) CBBE model in different culture (Turkey) and new service context (fashion retailing). - Compare validity of Nam et al.’s (2011) CBBE model with the brand equity model introduced by Yoo and Donthu (2001). - Expand the Nam et al.’s (2011) model by introducing “brand awareness”. Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tech.

Equity Theory Ratios as Causal Schemas

Directory of Open Access Journals (Sweden)

Alexios Arvanitis

2016-08-01

Full Text Available Equity theory approaches justice evaluations based on ratios of exchange inputs to exchange outcomes. Situations are evaluated as just if ratios are equal and unjust if unequal. We suggest that equity ratios serve a more fundamental cognitive function than the evaluation of justice. More particularly, we propose that they serve as causal schemas for exchange outcomes, that is, they assist in determining whether certain outcomes are caused by inputs of other people in the context of an exchange process. Equality or inequality of ratios in this sense points to an exchange process. Indeed, Study 1 shows that different exchange situations, such as disproportional or balanced proportional situations, create perceptions of give-and-take on the basis of equity ratios. Study 2 shows that perceptions of justice are based more on communicatively accepted rules of interaction than equity-based evaluations, thereby offering a distinction between an attribution and an evaluation cognitive process for exchange outcomes.

Equity Theory Ratios as Causal Schemas.

Science.gov (United States)

Arvanitis, Alexios; Hantzi, Alexandra

2016-01-01

Equity theory approaches justice evaluations based on ratios of exchange inputs to exchange outcomes. Situations are evaluated as just if ratios are equal and unjust if unequal. We suggest that equity ratios serve a more fundamental cognitive function than the evaluation of justice. More particularly, we propose that they serve as causal schemas for exchange outcomes, that is, they assist in determining whether certain outcomes are caused by inputs of other people in the context of an exchange process. Equality or inequality of ratios in this sense points to an exchange process. Indeed, Study 1 shows that different exchange situations, such as disproportional or balanced proportional situations, create perceptions of give-and-take on the basis of equity ratios. Study 2 shows that perceptions of justice are based more on communicatively accepted rules of interaction than equity-based evaluations, thereby offering a distinction between an attribution and an evaluation cognitive process for exchange outcomes.

The Effect of Consumer-Based Brand Equity on Personel Computer Purchase Intention: A Study in Antakya

OpenAIRE

Tulin Ural; H. Gül Pek

2012-01-01

In resent years, a brand is a powerful mean of differentiation, and that differentiation provides a significant competitive advantage for firms. Knowing how consumers assess a brand is important. For this reason, we need to determine the factors which affect to consumer-based brand equity. In this study, the relationships among brand awareness, perceived quality, brand image, brand loyalty and consumer-based brand equity have been examined, separately. Additionally, the study is extended to i...

Consumer-Based Brand Equity of Products and Services: Assessing a Measurement Model with Competing Brands

Directory of Open Access Journals (Sweden)

Rafael Barreiros Porto

2018-04-01

Full Text Available  Objective: Identifying which brand in a category conveys more or less value to the consumer raises questions about the composition of brand equity measures and the brands that make up the category. Measures to identify Consumer-Based Brand Equity (CBBE may include functional assessments of consumer’s brand choice and firms’ brand performance, as long as they embrace competing brands. In view of this, this study comes up with a validation of a measurement model of Consumer-Based Brand Equity for competing brands of products and services, testing for possible moderation (product / service and experienced / non-experienced consumers. Method: Appraising 39 brands, the model was composed of 6 metrics: awareness, perceived quality, loyalty, association, exclusiveness and willingness to pay a price premium. Confirmatory factorial analysis revealed the CBBE structure and multigroup moderation tests showed the comparisons between products and services and between experienced and non-experienced consumers. Main Result: The metrics have convergent validity with very good model fit. The metrics are similar for products / services, but different for consumers with / without experience (evidence of moderation. Contributions: Based on this measure, researchers and marketers can identify whether their brand's performance has been perceived better or worse than that of their competitors. Relevance/Originality: This article is the first to offer a more complete scale to assess the consumer-based brand equity of products and services, allowing the researcher to compare the competitiveness between brands. 

A comparison of carbon allocation schemes: On the equity-efficiency tradeoff

International Nuclear Information System (INIS)

Pan, Xunzhang; Teng, Fei; Wang, Gehua

2014-01-01

In the long-term stabilization targets of greenhouse gases concentrations, various carbon emission rights allocation schemes have been proposed. To compare and evaluate them, the most essential is the equity-efficiency tradeoff. This paper measures the equity and the efficiency in the global rather than the narrower national perspective. Specifically, the equity of the first allocation is quantified by the carbon Gini coefficient defined by per capita cumulative emission, and the economic efficiency to accomplish obligations is described with the discounted global abatement costs. Under 20 key allocation schemes, the numerical comparison on the equity-efficiency tradeoff side is carried out through the Equitable Access to Sustainable Development model. Our studies indicate that the equity and the efficiency of future emission space allocation approximately show a three-stage relationship. - Highlights: • The equity-efficiency tradeoff among 20 key allocation schemes is carried out. • Both the equity and the efficiency are measured in the global perspective. • The Equitable Access to Sustainable Development model is adopted as the study tool. • A practical trade framework is indispensable to efficiently address climate change. • The equity and the efficiency generally show a three-stage tradeoff relationship

Differentiation, international equity and efficiency in the fight against the global climatic change

International Nuclear Information System (INIS)

Blanchard, O.; Criqui, P.; Viguier, L.; Trommetter, M.

1998-05-01

The first difficulty to get over in the international negotiation on the climatic change, has been and still remain the distribution of the efforts and the research of the equity in the objective determination. This paper analyzes the possible consequences of the negotiable emission licenses in terms of efficiency and equity. The first part is a review of the different charts of the objectives differentiation discussed or proposed in the international negotiation process on the greenhouse effect. It aims to find a bond between the the charts and the equity. The second part deals with the programs cost and their relative efficiency, taking into account the marginal cost curves. (A.L.B.)

Pricing of premiums for equity-linked life insurance based on joint mortality models

Science.gov (United States)

Riaman; Parmikanti, K.; Irianingsih, I.; Supian, S.

2018-03-01

Life insurance equity - linked is a financial product that not only offers protection, but also investment. The calculation of equity-linked life insurance premiums generally uses mortality tables. Because of advances in medical technology and reduced birth rates, it appears that the use of mortality tables is less relevant in the calculation of premiums. To overcome this problem, we use a combination mortality model which in this study is determined based on Indonesian Mortality table 2011 to determine the chances of death and survival. In this research, we use the Combined Mortality Model of the Weibull, Inverse-Weibull, and Gompertz Mortality Model. After determining the Combined Mortality Model, simulators calculate the value of the claim to be given and the premium price numerically. By calculating equity-linked life insurance premiums well, it is expected that no party will be disadvantaged due to the inaccuracy of the calculation result

Carbon information disclosure of enterprises and their value creation through market liquidity and cost of equity capital

Directory of Open Access Journals (Sweden)

Li Li

2015-01-01

Full Text Available Purpose: Drawing on asymmetric information and stakeholder theories, this paper investigates two mechanisms, namely market liquidity and cost of equity capital, by which the carbon information disclosure of enterprises can benefit their value creation. Design/methodology/approach: In this research, web crawler technology is employed to study the link between carbon information disclosure and enterprises value creation?and the carbon information data are provided by all companies listed in Chinese A-share market Findings: The results show that carbon information disclosure have significant positive influence on enterprise value creation, which is embodied in the relationship between carbon information disclosure quantity, depth and enterprise value creation, and market liquidity and cost of equity capital play partially mediating role in it, while the influence of carbon information disclosure quality and concentration on enterprise value creation are not significant in statistics. Research limitations/implications: This paper explains the influence path and mechanism between carbon information disclosure and enterprise value creation deeply, answers the question of whether carbon information disclosure affects enterprise value creation or not in China. Practical implications: This paper finds that carbon information disclosure contributes positively to enterprise value creation suggests that managers can reap more financial benefits by disclosing more carbon information and investing carbon emissions management. So, managers in the enterprises should strengthen the management of carbon information disclosure behavior. Originality/value: The paper gives a different perspective on the influence of carbon information disclosure on enterprise value creation, and suggests a new direction to understand carbon information disclosure behavior.

Private Equity Waves

NARCIS (Netherlands)

J.T.J. Smit (Han); W.A. van den Berg (Ward)

2006-01-01

textabstractThis study presents a dynamic model for the private equity market in which information revelation and uncertainty rationally explain the cyclical pattern of investment flows into private equity. The net benefit of private equity over public equity is i) uncertain and ii) agents have

Dividend taxation, share repurchases and the equity trap

OpenAIRE

Lindhe, Tobias; Södersten, Jan

2009-01-01

  This paper reconsiders the effects of dividend taxation. Particular attention is paid to the form of the “equity trap”, that is, the extent to which cash paid to the shareholders must be taxed as dividends. Our analysis shows that Sinn’s (1991) criticism of the well-known King and Fullerton (1984) methodology for underestimating the cost of new share issues amounts to a misleading comparison across two different regimes for the equity trap. Contrary to Sinn, we find that when dividends are ...

Gender equity.

Science.gov (United States)

Shiva, M

1999-01-01

This paper focuses on gender equity. Gender equity is difficult to achieve when there is no economic, social, or political equity. The Gender Development Index evidenced this. There were a lot of instances where women are psychologically traumatized, whether it is through domestic rape, purchased sexual services in the red light area, and seduction or violation of neighbors, relatives, daughter or child. The economic changes linked with globalization and media's influence have worsened women's position. The policy for empowerment of women is an attempt toward ensuring equity. Furthermore, many women and women's organizations are trying to address these inequities; wherein they fight for strong acceptance of women's rights, social, economic, and political rights, as well as equities between gender and within gender.

CUSTOMER EQUITY:MAKING MARKETING STRATEGY FINANCIALLY ACCOUNTABLE

Institute of Scientific and Technical Information of China (English)

Ashwin ARAVINDAKSHAN; Roland T. RUST; Katherine N. LEMON; Valerie A. ZEITHAML

2004-01-01

The article presents an overview of the literature on customer equity and how customer equity provides an opportunity for marketers to make marketing strategy financially accountable.Traditionally, Return on Investment (ROI) models have been used to evaluate the financial expenditures required by the strategies as well as the financial returns gained by them. However in addition to requiring lengthy longitudinal data, these models also have the disadvantage of not evaluating the effect of the strategies on a firm's customer equity. The dominance of customer-centered thinking over product-centered thinking calls for a shift from product-based strategies to customer-based strategies. Hence, it is important to evaluate a firm's marketing strategies in terms of the drivers of its customer equity. The article summarizes a unified strategic framework that enables competing marketing strategy options to be traded off on the basis of projected financial return, which is operationalized as the change in a firm's customer equity relative to the incremental expenditure necessary to produce the change.

Evaluating the Impacts of Bus Fare on Social Equity Based on IC Card Data in China

Directory of Open Access Journals (Sweden)

Shaowu Cheng

2016-10-01

Full Text Available Bus fare equity has attracted significant attention in China in the past few years. Compared with developed countries, China’s intelligent transportation systems are in their infancy, with immature bus fare policies being used in many public transit systems. The methods used for evaluating public transit fare equity in developed countries compare different fare policies based on rich data and cannot be directly applied in developing countries like China. In this paper, we present a method that uses IC card data, bus-mounted GPS data, and relevant statistical yearbook data to evaluate the equity of flat bus fare. The method ranks the factors that influence the impacts of bus fare on social equity for different passenger groups and indicates that trip distance and passenger boarding time are the two primary factors for bus fare equity from a resource allocation perspective. Finally, we present a case study that evaluates the flat fare policy for route 204 in Suzhou using the proposed method. The results show that the proposed method is feasible.

Outcome based state budget allocation for diabetes prevention programs using multi-criteria optimization with robust weights.

Science.gov (United States)

Mehrotra, Sanjay; Kim, Kibaek

2011-12-01

We consider the problem of outcomes based budget allocations to chronic disease prevention programs across the United States (US) to achieve greater geographical healthcare equity. We use Diabetes Prevention and Control Programs (DPCP) by the Center for Disease Control and Prevention (CDC) as an example. We present a multi-criteria robust weighted sum model for such multi-criteria decision making in a group decision setting. The principal component analysis and an inverse linear programming techniques are presented and used to study the actual 2009 budget allocation by CDC. Our results show that the CDC budget allocation process for the DPCPs is not likely model based. In our empirical study, the relative weights for different prevalence and comorbidity factors and the corresponding budgets obtained under different weight regions are discussed. Parametric analysis suggests that money should be allocated to states to promote diabetes education and to increase patient-healthcare provider interactions to reduce disparity across the US.

Marginal versus Average Beta of Equity under Corporate Taxation

OpenAIRE

Lund, Diderik

2009-01-01

Even for fully equity-financed firms there may be substantial effects of taxation on the after-tax cost of capital. Among the few studies of these effects, even fewer identify all effects correctly. When marginal investment is taxed together with inframarginal, marginal beta differs from average if there are investment-related deductions like depreciation. To calculate asset betas, one should not only 'unlever observed equity betas, but 'untax' and 'unaverage' them. Risky tax claims are value...

A Structural Equation Modeling Approach to Investigate Negative Word of Mouth Impact on Customer-Based Brand Equity: Does Attribution Matter?

Directory of Open Access Journals (Sweden)

Ahmed Yehia Ebeid

2014-09-01

Full Text Available There is a shortage in the research which addresses the relationship between negative word of mouth (WOM communication and customer-based brand equity dilution. This research utilizes attribution theory to demonstrate the negative word-of-mouth impact on the customer-based brand equity. Structural equation modeling was used to investigate the proposed effect of negative WOM on brand equity. The study sample consists of 71 post-graduate students, the object of negative WOM was laptops which considered a highly involvement product. Experimental investigation results reveal that customer exposure to negative word-of-mouth increases the brand equity dilution. Results were discussed in the light of casual attribution theory, and practical implications were provided.

Association of increased monetary cost of dietary intake, diet quality and weight management in Spanish adults.

Science.gov (United States)

Schröder, Helmut; Serra-Majem, Luis; Subirana, Isaac; Izquierdo-Pulido, Maria; Fitó, Montserrat; Elosua, Roberto

2016-03-14

Higher monetary diet cost is associated with healthier food choices and better weight management. How changes in diet cost affect changes in diet quality and weight remains unknown. The aim of this study was to assess the impact of changes in individual monetary diet cost on changes in diet quality, measured by the modified Mediterranean diet score recommendations (MDS-rec) and by energy density (ED), as well as changes in weight and BMI. We conducted a prospective, population-based study of 2181 male and female Spaniards aged between 25 and 74 years, who were followed up to the 2009-2010 academic year. We measured weight and height and recorded dietary data using a validated FFQ. Average food cost was calculated from official Spanish government data. We fitted multivariate linear and logistic regression models. The average daily diet cost increased from 3·68(SD0.0·89)€/8·36 MJ to 4·97(SD1·16)€/8·36 MJ during the study period. This increase was significantly associated with improvement in diet quality (Δ ED and Δ MDS-rec; Pcost per 8·36 MJ was associated with a decrease of 0·3 kg in body weight (P=0·02) and 0·1 kg/m(2) in BMI (P=0·04). These associations were attenuated after adjusting for changes in diet quality indicators. An improvement in diet quality and better weight management were both associated with an increase in diet cost; this could be considered in food policy decisions.

On the evolutionary origins of equity.

Directory of Open Access Journals (Sweden)

Stéphane Debove

Full Text Available Equity, defined as reward according to contribution, is considered a central aspect of human fairness in both philosophical debates and scientific research. Despite large amounts of research on the evolutionary origins of fairness, the evolutionary rationale behind equity is still unknown. Here, we investigate how equity can be understood in the context of the cooperative environment in which humans evolved. We model a population of individuals who cooperate to produce and divide a resource, and choose their cooperative partners based on how they are willing to divide the resource. Agent-based simulations, an analytical model, and extended simulations using neural networks provide converging evidence that equity is the best evolutionary strategy in such an environment: individuals maximize their fitness by dividing benefits in proportion to their own and their partners' relative contribution. The need to be chosen as a cooperative partner thus creates a selection pressure strong enough to explain the evolution of preferences for equity. We discuss the limitations of our model, the discrepancies between its predictions and empirical data, and how interindividual and intercultural variability fit within this framework.

QUALICOPC, a multi-country study evaluating quality, costs and equity in primary care

Directory of Open Access Journals (Sweden)

Van den Berg Michael J

2011-10-01

Full Text Available Abstract Background The QUALICOPC (Quality and Costs of Primary Care in Europe study aims to evaluate the performance of primary care systems in Europe in terms of quality, equity and costs. The study will provide an answer to the question what strong primary care systems entail and which effects primary care systems have on the performance of health care systems. QUALICOPC is funded by the European Commission under the "Seventh Framework Programme". In this article the background and design of the QUALICOPC study is described. Methods/design QUALICOPC started in 2010 and will run until 2013. Data will be collected in 31 European countries (27 EU countries, Iceland, Norway, Switzerland and Turkey and in Australia, Israel and New Zealand. This study uses a three level approach of data collection: the system, practice and patient. Surveys will be held among general practitioners (GPs and their patients, providing evidence at the process and outcome level of primary care. These surveys aim to gain insight in the professional behaviour of GPs and the expectations and actions of their patients. An important aspect of this study is that each patient's questionnaire can be linked to their own GP's questionnaire. To gather data at the structure or national level, the study will use existing data sources such as the System of Health Accounts and the Primary Health Care Activity Monitor Europe (PHAMEU database. Analyses of the data will be performed using multilevel models. Discussion By its design, in which different data sources are combined for comprehensive analyses, QUALICOPC will advance the state of the art in primary care research and contribute to the discussion on the merit of strengthening primary care systems and to evidence based health policy development.

Studying the relationship between brand equity and consumer behavior

Directory of Open Access Journals (Sweden)

Satvati Razavi Shadi

2016-01-01

Full Text Available The present study was conducted to investigate the relationship between brand equity and consumer behavior. In today's competitive world, where the consumer is faced with a broad range of products made in different countries, companies should further seek to identify the factors of customers' trends towards products to encourage customers to select and purchase the product. In the model proposed in this study, the relationship between brand equity and the dimensions of consumer behavior including the willingness to pay for extra cost, brand preference and purchase intention is investigated. The research method is a descriptive correlational. Structural equations and descriptive and inferential statistics and factor analysis were used to analyze the data. The statistical population of the study includes the owners of Grand Vitara, Sportage and Santafe from the companies of Iran Khodro, Kia and Hyundai. The population was unlimited including 384 people using Cochran formula; and cluster sampling and endemic questionnaire tool were used. In the marketing literature, the lack of empirical research that seeks to explore the relationship between brand equity and consumer behavior is tangible. This research focuses on those reactions that provide more sales and the ability to grow. According to the results, it seems that there is a relationship between brand equity and consumer behavior including paying extra cost, brand preference and purchase intention.

MEASURING CONSUMER-BASED BRAND EQUITY - EVIDENCE FROM ALBANIAN BANKING SECTOR

Directory of Open Access Journals (Sweden)

Shpëtim ÇERRI

2012-01-01

Full Text Available Today brands and branding have gained a lot of attention among academics and practitioners as well, since they are considered crucial for the success of a company. The branding literature, however, has been more focused on goods branding, relatively neglecting the services branding. Branding equity in services, as an important concept of services branding, also has not received the deserved attention from academics and services companies’ managers.The study aims to measure the brand equity in services sector, since brand equity is very important for monitoring of the health of services brands. It has been focused in the banking sector, a well-developed and consolidated sector which employs hundreds of individuals and has a very important role in Albanian economy. Nine banks, which make up more than 98 per cent of the domestic market in banking services (according to the official data of the Bank of Albania, were chosen to be included in the study. 250 bank customers were interviewed, using direct interviews. After an extensive literature review about the branding and services branding, seven measures were chosen and used to measure the services brand equity. The findings of the study gave interesting insights about services branding equity and services branding in general. It has important and useful implications for banks’ managers as well as for academics.

42 CFR 413.139 - Depreciation: Optional allowance for depreciation based on a percentage of operating costs.

Science.gov (United States)

2010-10-01

... is determined. (c) Application. If a provider has inadequate historical cost records for pre-1966... depreciable-type assets, allowance in lieu of specific recognition of other costs, or return on equity capital... either has no historical cost records or has incomplete records, the determination of historical cost may...

Associations of recent weight loss with health care costs and utilization among older women.

Directory of Open Access Journals (Sweden)

John T Schousboe

Full Text Available The association of weight loss with health care costs among older women is uncertain. Our study aim was to examine the association of objectively measured weight change with subsequent total health care (THC costs and other health care utilization among older women. Our study population included 2,083 women (mean age 80.2 years enrolled in the Study of Osteoporotic Fractures and U.S. Medicare Fee for Service. Weight loss and gain were defined, respectively, as ≥5% decrease and ≥5% increase in body weight, and weight maintenance as <5% change in body weight over a period of 4.5 years. THC costs, outpatient costs, hospitalizations, and skilled nursing facility [SNF] utilization were estimated from Medicare claims for 1 year after the period during which weight change was measured. The associations of weight change with THC and outpatient costs were estimated using generalized linear models with gamma variance and log link functions, and with hospitalizations and SNF utilization using logistic models. Adjusted for age and current body mass index (BMI, weight loss compared with weight maintenance was associated with a 35% increase in THC costs ($2148 [95% CI, 745 to 3552], 2014 U.S. dollars, a 15% increase in outpatient costs ($329 [95% C.I. -1 to 660], and odds ratios of 1.42 (95% CI, 1.14 to 1.76 for ≥1 hospital stay and 1.45 (95% CI, 1.03 to 2.03 for ≥1 SNF stay. These associations did not vary by BMI category. After additional adjustment for multi-morbidity and functional status, associations of weight loss with all four outcomes were no longer significant. In conclusion, ≥5% weight loss among older women is not associated with increased THC and outpatient costs, hospitalization, and SNF utilization, irrespective of BMI category after accounting for multi-morbidity and impaired functional status that accompany weight loss.

Global Equity Gauge Alliance: reflections on early experiences.

Science.gov (United States)

McCoy, David; Bambas, Lexi; Acurio, David; Baya, Banza; Bhuiya, Abbas; Chowdhury, A Mushtaque R; Grisurapong, Siriwan; Liu, Yuanli; Ngom, Pierre; Ngulube, Thabale J; Ntuli, Antoinette; Sanders, David; Vega, Jeanette; Shukla, Abhay; Braveman, Paula A

2003-09-01

The paper traces the evolution and working of the Global Equity Gauge Alliance (GEGA) and its efforts to promote health equity. GEGA places health equity squarely within a larger framework of social justice, linking findings on socioeconomic and health inequalities with differentials in power, wealth, and prestige in society. The Alliance's 11 country-level partners, called Equity Gauges, share a common action-based vision and framework called the Equity Gauge Strategy. An Equity Gauge seeks to reduce health inequities through three broad spheres of action, referred to as the 'pillars' of the Equity Gauge Strategy, which define a set of interconnected and overlapping actions. Measuring and tracking the inequalities and interpreting their ethical import are pursued through the Assessment and Monitoring pillar. This information provides an evidence base that can be used in strategic ways for influencing policy-makers through actions in the Advocacy pillar and for supporting grassroots groups and civil society through actions in the Community Empowerment pillar. The paper provides examples of strategies for promoting pro-equity policy and social change and reviews experiences and lessons, both in terms of technical success of interventions and in relation to the conceptual development and refinement of the Equity Gauge Strategy and overall direction of the Alliance. To become most effective in furthering health equity at both national and global levels, the Alliance must now reach out to and involve a wider range of organizations, groups, and actors at both national and international levels. Sustainability of this promising experiment depends, in part, on adequate resources but also on the ability to attract and develop talented leadership.

Equity in multiproduct supply chain network

Directory of Open Access Journals (Sweden)

Mina SAEE BOSTANABAD

2013-01-01

Full Text Available In this paper, multiproduct supply chain network is investigated with equity consideration,namely, obtaining the optimal flow pattern, in such a way that no user in the network can increasehis(her benefit with change in product’s sending path. However, each kind of products, has anindividual cost function and, at the same time, contributes to its own and other product’s cost functionin an individual way. An algorithm is developed to find optimal flow pattern for such multiproductsupply chain network.

Health Equity in a Trump Administration.

Science.gov (United States)

Stone, Deborah

2017-10-01

Donald Trump's rhetoric and leadership are destroying the "culture of community" necessary for progress on health equity. His one-line promises to provide "quality health care at a fraction of the cost" smack of neoliberal nostrums that shifted ever more costs onto patients, thereby preventing many people from getting care. The dangers of Trump go far beyond health policy, however; Trump's presidency threatens the political and cultural institutions that make any good policy possible. Copyright © 2017 by Duke University Press.

Modelling home equity conversion loans with life insurance models

Directory of Open Access Journals (Sweden)

Baškot Bojan

2013-01-01

Full Text Available Home equity represents a reserve that can be used for providing additional money for its owners during their retirement. Life insurance models can be successfully applied to model home equity conversion loans. The home equity conversion loan is a financial product that provides a certain flexibility by using home equity as a resource for a quality life during retirement. Home equity conversion loans do not have a predetermined maturity date, as do conventional loans. But, like every loan, it must be repaid. One potential advantage of using a home equity conversion loan during tough financial times instead of some types of need-based assistance is that eligibility is straightforward. Home equity conversion loans can be useful tools in the process of pension system reform.

Discussion of "Using accounting information for consumption planning and equity valuation"

DEFF Research Database (Denmark)

Christensen, Peter Ove

2007-01-01

This paper discusses Yee (2007), who investigates the role of accounting information for consumption planning and equity valuation. Higher earnings quality increases investor welfare and ex ante stock prices as well as the weight on earnings in valuation equations based on both cash flows...... and earnings. The former is due to improved consumption smoothing through more informed production choices, while the latter is due to the impact on the relative information content of current cash flows versus earnings about future cash flows....

The efficiency and equity of marketable permits for CO2 emissions

International Nuclear Information System (INIS)

Rose, A.; Stevens, B.

1993-01-01

This paper examines the efficiency and equity implications of alternative assignments of marketable permits for carbon dioxide. A non-linear programming model is used to estimate the net welfare changes of permit allocations based on Sovereignty and Rawlsian equity criteria for 8 countries/regions covering the spectrum of economic development levels. The net welfare gains associated with an overall 20% reduction in CO 2 emissions are estimated to be nearly 20 billion dollars, an increase of several billion dollars over a system of inflexible emission quotas requiring 20% abatement in each country. Also, although the welfare changes implied by alternative permit assignments may vary greatly between countries before trading, the trading process significantly reduces the disparities. This result stems from the Coase Theorem, which implies a uniquely efficient outcome. That is, individual country abatement levels and, hence, costs, are the same under all permit assignments after trading, and net welfare for a given nation differs only by the amount of permit revenues/expenditures associated with the application of alternative equity criteria. Foremost among the paper's policy implications is that although equity criteria may differ significantly in principle, their welfare implications in practice may be very similar for various subsets of these criteria. This should reduce tensions at the bargaining table and facilitate the negotiation of greenhouse gas agreements. 52 refs., 3 figs., 8 tabs

Figuring what’s fair: The cost of equity capital for renewable energy in emerging markets

International Nuclear Information System (INIS)

Donovan, Charles; Nuñez, Laura

2012-01-01

The appropriate cost of capital for a renewable energy project depends upon an accurate measure of investment risk. Employing the conceptual framework of a commonly accepted asset pricing model, we analyze the risk faced by renewable energy investors in large emerging markets. We find that firms in Brazil, China and India expose multinational investors to the same risk as investing in emerging markets generally. The risk to domestic investors in those same firms ranges from substantially below-average to above-average, depending upon the country. The results are robust across several model versions and statistical techniques. With an eye toward government efforts to encourage the deployment of renewable energy in developing countries, we establish a range of estimates for the required return on equity capital in this fast-growing and politically important economic sector.

Can community-based, low-cost antenatal care in the third trimester of pregnancy reduce the incidence of low birth weight newborns?

Science.gov (United States)

Chaudhary, A K; Chaudhary, Asha; Tiwari, S C; Dwivedi, R

2012-06-01

To determine if community-based, low-cost interventions during third trimester of pregnancy can reduce the incidence of low birth weight babies. In a case control study, 290 pregnant women from a slum area were registered in the beginning of third trimester of pregnancy and provided full antenatal care comprising fortnightly check up, one IFA tablet daily, counseling for minimum one-and-a-half hour post-lunch rest in left lateral position, additional diet to ensure minimum 2,200 kcal per day, and management of clinical conditions, if any. An equal number of pregnant women belonging to the same slum area were registered as control who received routine antenatal services from the existing health care facilities. The birth weight of the babies in the two groups were recorded and compared. Test of significance and correlation coefficient were applied to the data. Mean birth weight of the babies of the Subjects was 2.76 kg (SD 0.39) compared to mean birth weight of 2.57 kg (SD 0.36) of the babies in the Control group. Incidence of low birth weight babies among subjects who consumed minimum 2,400 kcal per day, had one-and-a-half hour post-lunch rest in left lateral position and who consumed one tablet of IFA (100 mg iron and 5 mg folic acid) per day during the last trimester of pregnancy was lower (17.6 %) as compared with women in the Control group (36.2 %). The difference in the mean birth weight of newborns of the two groups was statistically significant (t = 2.52, p < 0.01). Incidence of low birth weight babies can be significantly reduced by providing simple, low-cost care to pregnant women during the last trimester of pregnancy in the community setting.

Odhad nákladů vlastního kapitálu jako východiska pro stanovení hodnoty podniku

OpenAIRE

Petr Chvojan

2017-01-01

The determination of the total value of a business is the key to financial growth over a long-term period. This article focuses on assessing the cost of equity, which is used to calculate the weighted average cost of capital. The weighted average cost of capital (WACC) expresses the relative costs of equity and the costs of debt capital of a business. Particular attention should be paid to the determination of the cost of equity, as it is a difficult and complex task. Two simulations subseque...

Private label brand equity: a conceptual framework

OpenAIRE

Xara-Brasil, Duarte; Marreiros, Cristina; Dionísio, Andreia

2012-01-01

Trabalho apresentado na AMA/ACRA First Triennial Conference, 18-21 de abril de 2012, Seattle, USA This paper presents a conceptual framework to analyze private label brand equity in a retail context. Several authors proposed brand equity models as Aaker (1996), Keller (1993) and Yoo and Donthu (2001), and specific research has been done in retail industry (Jara & Cliquet, 2009), (Pappu & Quester, 2006). To study private label brand equity, we suggest a framework based on the Yo...

Conceptualizing the social media communication impact on consumer based brand equity

Directory of Open Access Journals (Sweden)

Ligita Zailskaitė-Jakštė

2016-05-01

Full Text Available Purpose of the article: The purpose of this paper is to identify the impact of consumer-brand communication in social media on brand equity, providing conceptual model. Methodology/methods: The model was prepared using methods of comparative and systematic analysis of scientific literature. Scientific aim: The scientific aim of the article to propose the perspective of social media communication impact on brand equity conceptualization. The key factors of consumer engagement in company (brand communication process and amount of consumers created content (non-sponsored content, i.e. content created in interaction with company or brand, and sponsored content, i.e. content created in interaction with company (brand was under consideration. Findings: Our findings attempt to provide a comprehensive understanding of company (brand communication in social media seeking after a positive impact on brand equity dimensions. Theoretical analysis disclosed that it is not enough just to post message in a proper social media channel, it is essential to post appropriate content of the message and to post it in appropriate way in persuasion to engage consumers into communication. The consumer-generated content created in interaction with company and without interaction with company in social media is making impact on brand equity. Conclusions: The study extends the literature by examining communication in social media from company to consumer perspectives in order to disclose changes in marketing communication as source of brand equity in virtual context and to present key factors influencing brand equity in company (brand communication p

Cross-Cultural Trust Networks and Advancing Education Equity in Place-Based Partnerships

Science.gov (United States)

Banks, Amber Joy

2017-01-01

Research suggests that trust can be a foundational element for the success and sustainability of multi-organizational partnerships focused on advancing education equity in a particular neighborhood or region. As these place-based strategies gain popularity in the U.S., collaborators are increasingly required to navigate relationships where racial…

A national quitline service and its promotion in the mass media: modelling the health gain, health equity and cost-utility.

Science.gov (United States)

Nghiem, Nhung; Cleghorn, Christine L; Leung, William; Nair, Nisha; Deen, Frederieke S van der; Blakely, Tony; Wilson, Nick

2017-07-24

Mass media campaigns and quitlines are both important distinct components of tobacco control programmes around the world. But when used as an integrated package, the effectiveness and cost-effectiveness are not well described. We therefore aimed to estimate the health gain, health equity impacts and cost-utility of the package of a national quitline service and its promotion in the mass media. We adapted an established Markov and multistate life-table macro-simulation model. The population was all New Zealand adults in 2011. Effect sizes and intervention costs were based on past New Zealand quitline data. Health system costs were from a national data set linking individual health events to costs. The 1-year operation of the existing intervention package of mass media promotion and quitline service was found to be net cost saving to the health sector for all age groups, sexes and ethnic groups (saving $NZ84 million; 95%uncertainty interval 60-115 million in the base-case model). It also produced greater per capita health gains for Māori (indigenous) than non-Māori (2.2 vs 0.73 quality-adjusted life-years (QALYs) per 1000 population, respectively). The net cost saving of the intervention was maintained in all sensitivity and scenario analyses for example at a discount rate of 6% and when the intervention effect size was quartered (given the possibility of residual confounding in our estimates of smoking cessation). Running the intervention for 20 years would generate an estimated 54 000 QALYs and $NZ1.10 billion (US$0.74 billion) in cost savings. The package of a quitline service and its promotion in the mass media appears to be an effective means to generate health gain, address health inequalities and save health system costs. Nevertheless, the role of this intervention needs to be compared with other tobacco control and health sector interventions, some of which may be even more cost saving. © Article author(s) (or their employer(s) unless otherwise

Tax and the Use of Historic Returns in Estimating the Equity Risk Premium

OpenAIRE

Armitage, Seth

1998-01-01

The paper analyses the use of a historic risk premium as a proxy for the current premium allowing current tax rates to differ from historic rates. If tax rates are assumed constant, adjustments to the CAPM for an imputation system make the CAPM and cash flows to be discounted consistently with respect to tax, but do not model any effect of tax on the cost of equity. If tax rates are allowed to vary and a historic premium is used, the cost of equity is affected by the level of tax at which inv...

Protocol for the process evaluation of interventions combining performance-based financing with health equity in Burkina Faso.

Science.gov (United States)

Ridde, Valéry; Turcotte-Tremblay, Anne-Marie; Souares, Aurélia; Lohmann, Julia; Zombré, David; Koulidiati, Jean Louis; Yaogo, Maurice; Hien, Hervé; Hunt, Matthew; Zongo, Sylvie; De Allegri, Manuela

2014-10-12

The low quality of healthcare and the presence of user fees in Burkina Faso contribute to low utilization of healthcare and elevated levels of mortality. To improve access to high-quality healthcare and equity, national authorities are testing different intervention arms that combine performance-based financing with community-based health insurance and pro-poor targeting. There is a need to evaluate the implementation of these unique approaches. We developed a research protocol to analyze the conditions that led to the emergence of these intervention arms, the fidelity between the activities initially planned and those conducted, the implementation and adaptation processes, the sustainability of the interventions, the possibilities for scaling them up, and their ethical implications. The study adopts a longitudinal multiple case study design with several embedded levels of analyses. To represent the diversity of contexts where the intervention arms are carried out, we will select three districts. Within districts, we will select both primary healthcare centers (n =18) representing different intervention arms and the district or regional hospital (n =3). We will select contrasted cases in relation to their initial performance (good, fair, poor). Over a period of 18 months, we will use quantitative and qualitative data collection and analytical tools to study these cases including in-depth interviews, participatory observation, research diaries, and questionnaires. We will give more weight to qualitative methods compared to quantitative methods. Performance-based financing is expanding rapidly across low- and middle-income countries. The results of this study will enable researchers and decision makers to gain a better understanding of the factors that can influence the implementation and the sustainability of complex interventions aiming to increase healthcare quality as well as equity.

Formula-Based Public School Funding System in Victoria: An Empirical Analysis of Equity

Science.gov (United States)

Bandaranayake, Bandara

2013-01-01

This article explores the formula-based school funding system in the state of Victoria, Australia, where state funds are directly allocated to schools based on a range of equity measures. The impact of Victoria' funding system for education in terms of alleviating inequality and disadvantage is contentious, to say the least. It is difficult to…

Essays on equity-efficiency trade offs in energy and climate policies

Science.gov (United States)

Sesmero, Juan P.

Economic efficiency and societal equity are two important goals of public policy. Energy and climate policies have the potential to affect both. Efficiency is increased by substituting low-carbon energy for fossil energy (mitigating an externality) while equity is served if such substitution enhances consumption opportunities of unfavored groups (low income households or future generations). However policies that are effective in reducing pollution may not be so effective in redistributing consumption and vice-versa. This dissertation explores potential trade-offs between equity and efficiency arising in energy and climate policies. Chapter 1 yields two important results. First, while effective in reducing pollution, energy efficiency policies may fall short in protecting future generations from resource depletion. Second, deployment of technologies that increase the ease with which capital can substitute for energy may enhance the ability of societies to sustain consumption and achieve intertemporal equity. Results in Chapter 1 imply that technologies more intensive in capital and materials and less intensive in carbon such as corn ethanol may be effective in enhancing intertemporal equity. However the effectiveness of corn ethanol (relative to other technologies) in reducing emissions will depend upon the environmental performance of the industry. Chapter 2 measures environmental efficiency of ethanol plants, identifies ways to enhance performance, and calculates the cost of such improvements based on a survey of ethanol plants in the US. Results show that plants may be able to increase profits and reduce emissions simultaneously rendering the ethanol industry more effective in tackling efficiency. Finally while cap and trade proposals are designed to correcting a market failure by reducing pollution, allocation of emission allowances may affect income distribution and, hence, intra-temporal equity. Chapter 3 proves that under plausible conditions on preferences

BRAND EQUITY OF LAHORE FORT AS A TOURISM DESTINATION BRAND

Directory of Open Access Journals (Sweden)

Muhammad Kashif

2015-06-01

Full Text Available Studies that measure the brand equity of destination brands by using the Customer-Based Brand Equity (CBBE model in a developing country context are scarce. The present study investigates the destination brand equity of the Lahore Fort by employing the CBBE model in a developing country context of Pakistan. Following the positivist tradition, we adopted a survey-based approach to collect data from 237 tourists visiting the Lahore Fort. Data were collected through a questionnaire developed to explain the relationship of brand awareness, brand image, brand association, and brand loyalty with Lahore Fort’s overall brand equity. We used various robust statistical techniques such as correlation, regression and confirmatory factor analysis (using PLS method to reach meaningful conclusions and found that brand image and brand associations positively contribute to brand loyalty. Furthermore, brand loyalty significantly contributes towards overall brand equity. Pragmatically, this study measures the customer based brand equity of the Lahore Fort, a destination brand. The results are useful as they suggest a few strategies that can help policy makers to enhance Lahore Fort’s brand performance.

Market timing and the debt-equity choice

NARCIS (Netherlands)

Elliot, W.B.; Koeter-Kant, J.; Warr, R.S.

2008-01-01

We test the market timing theory of capital structure using an earnings-based valuation model that allows us to separate equity mispricing from growth options and time-varying adverse selection; thus avoiding the multiple interpretations of book-to-market ratio. We find that equity market mispricing

Promoting Mental Health Equity: The Role of Integrated Care.

Science.gov (United States)

Satcher, David; Rachel, Sharon A

2017-12-01

People suffering from mental illness experience poor physical health outcomes, including an average life expectancy of 25 years less than the rest of the population. Stigma is a frequent barrier to accessing behavioral health services. Health equity refers to the opportunity for all people to experience optimal health; the social determinants of health can enable or impede health equity. Recommendations from the U.S. government and the World Health Organization support mental health promotion while recognizing barriers that preclude health equity. The United States Preventive Services Task Force recently recommended screening all adults for depression. The Satcher Health Leadership Institute at the Morehouse School of Medicine (SHLI/MSM) is committed to developing leaders who will help to reduce health disparities as the nation moves toward health equity. The SHLI/MSM Integrated Care Leadership Program (ICLP) provides clinical and administrative healthcare professionals with knowledge and training to develop culturally-sensitive integrated care practices. Integrating behavioral health and primary care improves quality of life and lowers health system costs.

Computerized systems analysis and optimization of aircraft engine performance, weight, and life cycle costs

Science.gov (United States)

Fishbach, L. H.

1979-01-01

The computational techniques utilized to determine the optimum propulsion systems for future aircraft applications and to identify system tradeoffs and technology requirements are described. The characteristics and use of the following computer codes are discussed: (1) NNEP - a very general cycle analysis code that can assemble an arbitrary matrix fans, turbines, ducts, shafts, etc., into a complete gas turbine engine and compute on- and off-design thermodynamic performance; (2) WATE - a preliminary design procedure for calculating engine weight using the component characteristics determined by NNEP; (3) POD DRG - a table look-up program to calculate wave and friction drag of nacelles; (4) LIFCYC - a computer code developed to calculate life cycle costs of engines based on the output from WATE; and (5) INSTAL - a computer code developed to calculate installation effects, inlet performance and inlet weight. Examples are given to illustrate how these computer techniques can be applied to analyze and optimize propulsion system fuel consumption, weight, and cost for representative types of aircraft and missions.

Assessing Discount Rate for a Project Financed Entirely with Equity Capital

Directory of Open Access Journals (Sweden)

Nicoleta Vintila

2007-09-01

Full Text Available Estimating discount rate for an investment project is one of the most challenging tasks incapital budgeting. In this paper we discuss different kind of models for cost of equity capital proposed infinance literature (static CAPM, conditional CAPM, APT, build-up model, focusing especially on advantagesand disadvantages of using each of them. In the final section, we estimate the discount rate fora certain project financed entirely with equity capital, using a version of build-up model.

Odhad nákladů vlastního kapitálu jako východiska pro stanovení hodnoty podniku

Directory of Open Access Journals (Sweden)

Petr Chvojan

2017-12-01

Full Text Available The determination of the total value of a business is the key to financial growth over a long-term period. This article focuses on assessing the cost of equity, which is used to calculate the weighted average cost of capital. The weighted average cost of capital (WACC expresses the relative costs of equity and the costs of debt capital of a business. Particular attention should be paid to the determination of the cost of equity, as it is a difficult and complex task. Two simulations subsequent to this were executed with real entry data and mapped how the selection of specific input data, such as the risk-free interest rate and the maximal cost of equity, affect the overall calculations of the cost of equity. The main focus was on how the results were affected by the low risk-free interest rate in the Czech Republic.

Additional Indicators to Promote Social Sustainability within Government Programs: Equity and Efficiency

Directory of Open Access Journals (Sweden)

Adriana Acevedo Tirado

2015-07-01

Full Text Available Social programs are crucial to reduce poverty and inequity in developing countries. The operation of social programs, however, cannot be improved with traditional engineering tools since these tools are designed to maximize profits: in social programs maximizing profits is not the objective, social sustainability is. Field research was conducted and it was found that the operation of social programs is considered more socially sustainable if it meets two criteria: Efficiency and Equity; in other words, if the program can help more people who need it the most. This paper proposes a methodology centered in the development of mathematical formulas for the concepts of Efficiency and Equity, so that, by being able to measure them, government programs operation can be enhanced with engineering tools. The methodology is illustrated with a case study, a subsidized milk distribution program in Mexico, called Liconsa. Once the formulas were developed and used in a simulation model for Liconsa, different policies were tested and their results regarding Efficiency and Equity were compared. Results showed the best policies for Liconsa are the balanced ones: where help is increased for beneficiaries, while cost reduction commitments are obtained. In the discussion it is argued how the developed Equity and Efficiency indicators help to understand the tradeoffs between the objectives in opposition: instead of analyzing dozens of indicators, some of them improving and others worsening, the two formulas allow to capture all effects into two objectives and evaluate decisions based on their integral impact. Conclusions show that the mathematical definition of Equity and Efficiency supports better and more informed decision making towards improving the social sustainability of the programs operation. The mathematical definition of Equity and Efficiency and its use in engineering models helps balance the opposing objectives of social programs operation and promotes

Time-driven activity-based costing to identify opportunities for cost reduction in pediatric appendectomy.

Science.gov (United States)

Yu, Yangyang R; Abbas, Paulette I; Smith, Carolyn M; Carberry, Kathleen E; Ren, Hui; Patel, Binita; Nuchtern, Jed G; Lopez, Monica E

2016-12-01

As reimbursement programs shift to value-based payment models emphasizing quality and efficient healthcare delivery, there exists a need to better understand process management to unearth true costs of patient care. We sought to identify cost-reduction opportunities in simple appendicitis management by applying a time-driven activity-based costing (TDABC) methodology to this high-volume surgical condition. Process maps were created using medical record time stamps. Labor capacity cost rates were calculated using national median physician salaries, weighted nurse-patient ratios, and hospital cost data. Consumable costs for supplies, pharmacy, laboratory, and food were derived from the hospital general ledger. Time-driven activity-based costing resulted in precise per-minute calculation of personnel costs. Highest costs were in the operating room ($747.07), hospital floor ($388.20), and emergency department ($296.21). Major contributors to length of stay were emergency department evaluation (270min), operating room availability (395min), and post-operative monitoring (1128min). The TDABC model led to $1712.16 in personnel costs and $1041.23 in consumable costs for a total appendicitis cost of $2753.39. Inefficiencies in healthcare delivery can be identified through TDABC. Triage-based standing delegation orders, advanced practice providers, and same day discharge protocols are proposed cost-reducing interventions to optimize value-based care for simple appendicitis. II. Copyright © 2016 Elsevier Inc. All rights reserved.

Investigating different factors influencing on brand equity

Directory of Open Access Journals (Sweden)

Afsane Zamanimoghadam

2014-07-01

Full Text Available The purpose of this paper is to determine and prioritize factors influencing on brand equity in consumer’s point of view for a case study of Samsung appliance consumers in city of Tehran, Iran. The study investigates the effects of four factors in terms of the customer's perspective, price, advertisement, family and brand image, by dimensions of brand equity, perceived quality, brand awareness, brand association, brand loyalty, on brand equity. The research method is based on a descriptive-survey research. The questionnaire includes Samsung consumers in city of Tehran, Iran. To test the hypotheses, SPSS and LISREL software packages are used. For data analysis, descriptive statistics and inferential statistical tests including structural equation modeling and path analysis are used. The results of the survey have indicated that family and brand image influence positively on brand equity but the effects of advertisement and price on brand equity were not confirmed.

Equity, Inclusion and Conflict in Community Based Forest Management: A Case of Salghari Community Forest in Nepal

Directory of Open Access Journals (Sweden)

Sushant Acharya

2015-12-01

Full Text Available The equity and inclusion issues are widely observed in Community Based Forest Management (CBFM and Community Forestry (CF is not an exception. Community Forest User Groups (CFUGs are portrayed as robust grassroots institutions for forest management and group governance. However, many contemporary researches have shown that CFUGs are still governed by some influential local elites who hardly practice equity and inclusion. In this context, objectives of this paper are: to explore how equity and inclusion issues lead CFUGs fall into internal conflicts; and to demonstrate how CFUGs are able to address such issues locally. The study was carried out in Salghari CFUG of Ratnechaur, Myagdi. Semi-structured interview and focused group discussion were key tools used for data collection. Livelihoods and Social Inclusion Framework and Equity Framework are used for data analysis. The findings of the research revealed that dalits and non-dalits of Salghari fall into internal conflict regarding the use of forest products. The conflict was then managed through amendments in CF provisions and change in CF leadership. This paper concludes that execution of equity and inclusion provisions in CF, secures access to assets for disadvantaged people from CBFM. However, this demands empowerment of these people and facilitating role of external agency.

BRAND EQUITY OF LAHORE FORT AS A TOURISM DESTINATION BRAND

OpenAIRE

KASHIF, MUHAMMAD; SAMSI, SITI ZAKIAH MELATU; SARIFUDDIN, SYAMSULANG

2015-01-01

ABSTRACTStudies that measure the brand equity of destination brands by using the Customer-Based Brand Equity (CBBE) model in a developing country context are scarce. The present study investigates the destination brand equity of the Lahore Fort by employing the CBBE model in a developing country context of Pakistan. Following the positivist tradition, we adopted a survey-based approach to collect data from 237 tourists visiting the Lahore Fort. Data were collected through a questionnaire deve...

Country brand equity model: Sustainability perspective

Directory of Open Access Journals (Sweden)

Teodorović Milivoj

2016-01-01

Full Text Available This paper proposes a model of country brand equity that incorporates the issue of sustainability in determining destination brand equity. In particular, the model includes elements of sustainability as its core dimensions and promotes the concept of the country sustainability promise that transforms destination resources into the positive perception and experience. The theoretical model is empirically tested using global secondary data confirming that country image is the most important element followed by sustainability and loyalty. Also, the analysis suggests the existence of the higher order construct confirming the country brand equity concept. Based on the research findings, the article offers some implications to the destination managers by suggesting the direction for further development and strategy implementation.

An equity assessment of introducing uncertain forest carbon sequestration in EU climate policy

International Nuclear Information System (INIS)

Münnich Vass, Miriam; Elofsson, Katarina; Gren, Ing-Marie

2013-01-01

Large emissions of greenhouse gases are expected to cause major environmental problems in the future. European policy makers have therefore declared that they aim to implement cost-efficient and fair policies to reduce carbon emissions. The purpose of this paper is to assess whether the cost of the EU policies for 2020 can be reduced through the inclusion of carbon sequestration as an abatement option while equity is also improved. The assessment is done by numerical calculations using a chance-constrained partial equilibrium model of the EU Emissions Trading Scheme and national effort-sharing targets, where forest sequestration is introduced as an uncertain abatement option. Fairness is evaluated by calculation of Gini-coefficients for six equity criteria to policy outcomes. The estimated Gini-coefficients range between 0.11 and 0.32 for the current policy, between 0.16 and 0.66 if sequestration is included and treated as certain, and between 0.19 and 0.38 when uncertainty about sequestration is taken into account and policy-makers wish to meet targets with at least 90 per cent probability. The results show that fairness is reduced when sequestration is included and that the impact is larger when sequestration is treated as certain. - Highlights: • We model EU's CO 2 emission reduction targets to 2020 for the 27 member states. • We assess the equity of including forest carbon sequestration in EU policy with six equity criteria. • A stochastic partial equilibrium model is used, in which abatement cost is minimised. • Current burden sharing within the EU is quite fair when compared with current income inequality. • The abatement cost is reduced and inequality increased when including sequestration

Equity effects of economic instruments for greenhouse gas abatement

International Nuclear Information System (INIS)

Harrison, D. Jr.

1994-01-01

This paper discusses the equity effects of using economic instruments--such as a carbon tax or carbon emissions trading program--to regulate greenhouse gas emissions. Determining these equity effects is more complicated than assessing overall costs and benefits, although some of the same issues arise. Among the key issues are the following: (1) benchmark for evaluating impacts of economic instruments (status quo or regulatory program that achieves the same emission reductions); (2) use of any government revenues collected, which are transfers overall but affect gains and losses; (3) time period (long-term or transitional impacts); and (4) groupings (income groups, sectors or regions). Empirical studies suggest that a national tax is regressive in the US but may be less so in other countries. The equity impacts of an international carbon tax or emissions trading program differ greatly depending upon the specific elements. The paper considers options to compensate or mitigate adverse effects to income groups, sectors, or regions of the world. Although impossible to avoid all losses to every group, it would be possible to avoid major equity effects if carbon taxes or carbon trading programs were used to control global warming

EQUITY EVALUATION OF PADDY IRRIGATION WATER DISTRIBUTION BY SOCIETY-JUSTICE-WATER DISTRIBUTION RULE HYPOTHESIS

Science.gov (United States)

Tanji, Hajime; Kiri, Hirohide; Kobayashi, Shintaro

When total supply is smaller than total demand, it is difficult to apply the paddy irrigation water distribution rule. The gap must be narrowed by decreasing demand. Historically, the upstream served rule, rotation schedule, or central schedule weight to irrigated area was adopted. This paper proposes the hypothesis that these rules are dependent on social justice, a hypothesis called the "Society-Justice-Water Distribution Rule Hypothesis". Justice, which means a balance of efficiency and equity of distribution, is discussed under the political philosophy of utilitarianism, liberalism (Rawls), libertarianism, and communitarianism. The upstream served rule can be derived from libertarianism. The rotation schedule and central schedule can be derived from communitarianism. Liberalism can provide arranged schedule to adjust supply and demand based on "the Difference Principle". The authors conclude that to achieve efficiency and equity, liberalism may provide the best solution after modernization.

Equity Versus Non-Equity International Strategic Alliances

DEFF Research Database (Denmark)

Globerman, Steven; Nielsen, Bo Bernhard

A substantial literature has evolved focusing on the ownership structure of international strategic alliances (ISAs). Most of the relevant studies are theoretical in nature and concentrate on the conceptual factors that influence the choice between equity and non-equity structures. A smaller numb...... involving Danish firms. Our study documents how the determinants of governance mode choice vary in importance depending upon the "quality" of the governance infrastructure of the host country....

Understanding Gender-Based Wage Discrimination: Legal Interpretation and Trends of Pay Equity in Higher Education.

Science.gov (United States)

Luna, Gaye

1990-01-01

Traces the history of laws and litigation concerning pay equity issues, also referred to as wage equity and comparable worth. Suggests that universities and colleges identify possible problems and take voluntary corrective measures before pay-equity problems arise. (MLF)

Examining equity: a multidimensional framework for assessing equity in payments for ecosystem services

OpenAIRE

McDermott, Melanie; Mahanty, Sango; Schreckenberg, Kathrin

2012-01-01

Concern over social equity dominates current debates about payments for ecosystem services and reduced deforestation and forest degradation (REDD+). Yet, despite the apprehension that these initiatives may undermine equity, the term is generally left undefined. This paper presents a systematic framework for the analysis of equity that can be used to examine how local equity is affected as the global value of ecosystem services changes. Our framework identifies three dimensions that form the c...

Minimum Variance Portfolios in the Brazilian Equity Market

Directory of Open Access Journals (Sweden)

Alexandre Rubesam

2013-03-01

Full Text Available We investigate minimum variance portfolios in the Brazilian equity market using different methods to estimate the covariance matrix, from the simple model of using the sample covariance to multivariate GARCH models. We compare the performance of the minimum variance portfolios to those of the following benchmarks: (i the IBOVESPA equity index, (ii an equally-weighted portfolio, (iii the maximum Sharpe ratio portfolio and (iv the maximum growth portfolio. Our results show that the minimum variance portfolio has higher returns with lower risk compared to the benchmarks. We also consider long-short 130/30 minimum variance portfolios and obtain similar results. The minimum variance portfolio invests in relatively few stocks with low βs measured with respect to the IBOVESPA index, being easily replicable by individual and institutional investors alike.

Challenges of Ensuring Equity

DEFF Research Database (Denmark)

Pasgaard, Maya

and on a conceptual framework to examine equity in REDD+. Qualitative research with a case study in Cambodia provides the empirical foundation for the thesis, supplemented with a quantitative analysis of climate change research to address the fourth research question. Together, these articles and approaches...... these challenges, specific recomm ndations are summarized in the thesis, namely: better integration of qualitative methods in social assessments, greater emphasis on local inclusion and representativeness in relation to resource access and decision-making, more field research and cross...... social assessments in REDD+ are inadequate due to a dominant positivistic approach to methods and indicators for social assessment, which contrasts the complexities and context of REDD+ projects; 2) The distribution of costs and benefits within communities in Oddar Meanchey is uneven, as the costs...

Illiquidity Premia in the Equity Options Market

DEFF Research Database (Denmark)

Christoffersen, Peter; Goyenko, Ruslan; Jacobs, Kris

Illiquidity is well-known to be a significant determinant of stock and bond returns. We report on illiquidity premia in the equity options market. An increase in option illiquidity decreases the current option price and implies higher expected option returns. This effect is statistically and econ......Illiquidity is well-known to be a significant determinant of stock and bond returns. We report on illiquidity premia in the equity options market. An increase in option illiquidity decreases the current option price and implies higher expected option returns. This effect is statistically...... and economically signifi…cant. It is robust across different empirical approaches and when including various control variables. The illiquidity of the underlying stock affects the option return negatively, consistent with a hedging argument: When stock market illiquidity increases, the cost of replicating...

Equity yields

NARCIS (Netherlands)

Vrugt, E.; van Binsbergen, J.H.; Koijen, R.S.J.; Hueskes, W.

2013-01-01

We study a new data set of dividend futures with maturities up to ten years across three world regions: the US, Europe, and Japan. We use these asset prices to construct equity yields, analogous to bond yields. We decompose the equity yields to obtain a term structure of expected dividend growth

DETERMINANTS OF BRAND EQUITY: AN EMPIRICAL STUDY OF IT INDUSTRY

Directory of Open Access Journals (Sweden)

Muhammad Fahid MUQADDAS

2016-12-01

Full Text Available The performance of any brand can be measured by many methods. One of the widely used ways to calculate brand performance is through brand equity. Brand equity can be observed by customer’s perspective as well as financial perspective. This research paper investigates the impact of advertising and promotion, research and development (RD and profitability (return on assets on brand equity. In this research paper data is used from 20 international IT brands for a period of 5 years from 2011 to 2015. The results show that advertising and promotion and profitability have statistically significant impact on brand equity whereas RD doesn’t make significant impact on brand equity. Based on the findings, it is observed that advertising is having the strongest impact on brand equity.

Governing health equity in Scandinavian municipalities

DEFF Research Database (Denmark)

Scheele, Christian Elling; Little, Ingvild; Diderichsen, Finn

2018-01-01

AIMS: Local governments in the Scandinavian countries are increasingly committed to reduce health inequity through 'health equity in all policies' (HEiAP) governance. There exists, however, only very sporadic implementation evidence concerning municipal HEiAP governance, which is the focus...... of this study. METHODS: Data are based on qualitative thematic network analysis of 20 interviews conducted from 2014 to 2015 with Scandinavian political and administrative practitioners. RESULTS: We identify 24 factors located within three categories; political processes, where insufficient political commitment...... to health equity goals outside of the health sector and inadequate economic prioritization budget curbs implementation. Concerning evidence, there is a lack of epidemiological data, detailed evidence of health equity interventions as well as indicators relevant for monitoring implementation. Concerted...

Customer Equity von KMUs

NARCIS (Netherlands)

Biemel, Friedhelm W.; Henseler, Jörg; Meyer, Jorn-Axel

2003-01-01

Customer relationships are most important assets of many SMEs. Customer Equity is the sum of the values of all customer relationships. Customer Equity will not be found in any balance sheet, nevertheless it has strategic importance. Even if companies do not want to publish their Customer Equity for

75 FR 5452 - Regulations Under the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity...

Science.gov (United States)

2010-02-02

... Regulations Under the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008... and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA). MHPAEA prohibits... collection techniques or other forms of information technology; and Estimates of capital or start-up costs...

Analysis and outlook of applications of blockchain technology to equity crowdfunding in China

OpenAIRE

Zhu, Huasheng; Zhou, Zach Zhizhong

2016-01-01

Equity crowdfunding via the Internet is a new channel of raising money for startups. It features low barriers to entry, low cost, and high speed, and thus encourages innovation. In recent years, equity crowdfunding in China has experienced some developments. However, some problems remain unsolved in practice. Blockchain is a decentralized and distributed ledger technology to ensure data security, transparency, and integrity. Because it cannot be tampered with or forged, the technology is deem...

Setting priorities for knowledge translation of Cochrane reviews for health equity: Evidence for Equity.

Science.gov (United States)

Tugwell, Peter; Petkovic, Jennifer; Welch, Vivian; Vincent, Jennifer; Bhutta, Zulfiqar A; Churchill, Rachel; deSavigny, Don; Mbuagbaw, Lawrence; Pantoja, Tomas

2017-12-02

A focus on equity in health can be seen in many global development goals and reports, research and international declarations. With the development of a relevant framework and methods, the Campbell and Cochrane Equity Methods Group has encouraged the application of an 'equity lens' to systematic reviews, and many organizations publish reviews intended to address health equity. The purpose of the Evidence for Equity (E4E) project was to conduct a priority-setting exercise and apply an equity lens by developing a knowledge translation product comprising summaries of systematic reviews from the Cochrane Library. E4E translates evidence from systematic reviews into 'friendly front end' summaries for policy makers. The following topic areas with high burdens of disease globally, were selected for the pilot: diabetes/obesity, HIV/AIDS, malaria, nutrition, and mental health/depression. For each topic area, a "stakeholder panel" was assembled that included policymakers and researchers. A systematic search of Cochrane reviews was conducted for each area to identify equity-relevant interventions with a meaningful impact. Panel chairs developed a rating sheet which was used by all panels to rank the importance of these interventions by: 1) Ease of Implementation; 2) Health System Requirements; 3)Universality/Generalizability/Share of Burden; and 4) Impact on Inequities/Effect on equity. The ratings of panel members were averaged for each intervention and criterion, and interventions were ordered according to the average overall ratings. Stakeholder panels identified the top 10 interventions from their respective topic areas. The evidence on these interventions is being summarized with an equity focus and the results posted online, at http://methods.cochrane.org/equity/e4e-series . This method provides an explicit approach to setting priorities by systematic review groups and funders for providing decision makers with evidence for the most important equity

Shareowners' Equity at Campbell Soup: How Can Equity Be Negative?

Science.gov (United States)

Mohrman, Mary Beth; Stuerke, Pamela S.

2014-01-01

This paper presents an instructional case based on the 2001 annual report of the Campbell Soup Company (CPB). During that year, CPB's shareowners' equity went from a surplus of USD137 million to a deficit of USD247 million. The analysis will allow students to determine that the change resulted from borrowing to purchase treasury stock. Students…

Intergenerational equity and conservation

Science.gov (United States)

Otoole, R. P.; Walton, A. L.

1980-01-01

The issue of integenerational equity in the use of natural resources is discussed in the context of coal mining conversion. An attempt to determine if there is a clear-cut benefit to future generations in setting minimum coal extraction efficiency standards in mining is made. It is demonstrated that preserving fossil fuels beyond the economically efficient level is not necessarily beneficial to future generations even in terms of their own preferences. Setting fossil fuel conservation targets for intermediate products (i.e. energy) may increase the quantities of fossil fuels available to future generations and hence lower the costs, but there may be serious disadvantages to future generations as well. The use of relatively inexpensive fossil fuels in this generation may result in more infrastructure development and more knowledge production available to future generations. The value of fossil fuels versus these other endowments in the future depends on many factors which cannot possibly be evaluated at present. Since there is no idea of whether future generations are being helped or harmed, it is recommended that integenerational equity not be used as a factor in setting coal mine extraction efficiency standards, or in establishing requirements.

Designing realized kernels to measure the ex post variation of equity prices in the presence of noise

DEFF Research Database (Denmark)

Barndorff-Nielsen, Ole Eiler; Hansen, P.R.; Lunde, Asger

2008-01-01

This paper shows how to use realized kernels to carry out efficient feasible inference on the ex post variation of underlying equity prices in the presence of simple models of market frictions. The weights can be chosen to achieve the best possible rate of convergence and to have an asymptotic va......) allow for temporally dependent noise. The finite sample performance of our estimators is studied using simulation, while empirical work illustrates their use in practice.......This paper shows how to use realized kernels to carry out efficient feasible inference on the ex post variation of underlying equity prices in the presence of simple models of market frictions. The weights can be chosen to achieve the best possible rate of convergence and to have an asymptotic...... variance which equals that of the maximum likelihood estimator in the parametric version of this problem. Realized kernels can also be selected to (i) be analyzed using endogenously spaced data such as that in data bases on transactions, (ii) allow for market frictions which are endogenous, and (iii...

Free Cash-Flow, Issuance Costs and Stock Price Volatility

OpenAIRE

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

2008-01-01

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

Corporate Negative Equity: The Evidence from the European Union

Directory of Open Access Journals (Sweden)

Natalia Mokhova

2016-01-01

Full Text Available After the Global Financial Crisis the frequency of reported losses of companies has increased significantly in countries of the European Union. Moreover, the financial leverage of companies have increased and even exceeded 100% in several countries. The reason of this development is negative equity that companies find themselves to report. At first sight negative equities are caused by accumulated losses from prior periods. However, there are some other reasons that can result in increasing negative equities in companies. They remain adequate as long as a company is able to pay its bills. Nevertheless, a company with negative equity is exposed to risks. This paper investigates whether the corporate negative equity is a sign of the future failure of a company. We examine non-financial manufactured companies from selected countries of the European Union within the period 2005–2012 from database Amadeus (Czech Republic, Slovakia, Hungary, Poland and Germany. By the means of comparison between negative and positive equities we applied descriptive statistics and Pearson correlation analysis. We find that in all surveyed countries the size positively influences the equity of companies. Other factors as profitability and growth opportunities do not influence the corporate equity. In addition the binary logistic regression analysis has been conducted based on the evidence from Czech companies. Our results indicate that negative equities are not a sign of bankruptcy or insolvency of a company. But the low profitability or low business activities (that are predictors of bankruptcy might lead to negative equities in the balance sheet.

Obligations of low income countries in ensuring equity in global health financing.

Science.gov (United States)

Barugahare, John; Lie, Reidar K

2015-09-08

Despite common recognition of joint responsibility for global health by all countries particularly to ensure justice in global health, current discussions of countries' obligations for global health largely ignore obligations of developing countries. This is especially the case with regards to obligations relating to health financing. Bearing in mind that it is not possible to achieve justice in global health without achieving equity in health financing at both domestic and global levels, our aim is to show how fulfilling the obligation we propose will make it easy to achieve equity in health financing at both domestic and international levels. Achieving equity in global health financing is a crucial step towards achieving justice in global health. Our general view is that current discussions on global health equity largely ignore obligations of Low Income Country (LIC) governments and we recommend that these obligations should be mainstreamed in current discussions. While we recognise that various obligations need to be fulfilled in order to ultimately achieve justice in global health, for lack of space we prioritise obligations for health financing. Basing on the evidence that in most LICs health is not given priority in annual budget allocations, we propose that LIC governments should bear an obligation to allocate a certain minimum percent of their annual domestic budget resources to health, while they await external resources to supplement domestic ones. We recommend and demonstrate a mechanism for coordinating this obligation so that if the resulting obligations are fulfilled by both LIC and HIC governments it will be easy to achieve equity in global health financing. Although achieving justice in global health will depend on fulfillment of different categories of obligations, ensuring inter- and intra-country equity in health financing is pivotal. This can be achieved by requiring all LIC governments to allocate a certain optimal per cent of their domestic

Using connectivity for measuring equity in transit provision

DEFF Research Database (Denmark)

Kaplan, Sigal; Popoks, Dmitrijs; Prato, Carlo Giacomo

2014-01-01

. In addition, transit connectivity weighs the impedance components according to their relative importance to travelers. The assessment of equity was performed for the multi-modal transit system in the Greater Copenhagen Area, renowned for its transit-oriented finger-plan. The assessment method used a GIS...... representation of the network (i.e., service lines, timetables, metro stations, train stations, and bus stops), and transit assignment results (i.e., level-of-service times, passenger flows). The assessment method proved effective in calculating location-based and potential-accessibility measures and Gini...... coefficients of inequality in the Greater Copenhagen Area. Results show that the transit-oriented development contributes to spatial equity with high connectivity in densely populated zones, vertical equity with comparable connectivity in high income and low income zones, inter-generational equity with good...

GRADE Equity Guidelines 3

DEFF Research Database (Denmark)

Welch, Vivian A; Akl, Elie A; Pottie, Kevin

2017-01-01

OBJECTIVE: The aim of this paper is to describe a conceptual framework for how to consider health equity in the GRADE (Grading Recommendations Assessment and Development Evidence) guideline development process. STUDY DESIGN AND SETTING: Consensus-based guidance developed by the GRADE working grou...

Health care and equity in India.

Science.gov (United States)

Balarajan, Y; Selvaraj, S; Subramanian, S V

2011-02-05

In India, despite improvements in access to health care, inequalities are related to socioeconomic status, geography, and gender, and are compounded by high out-of-pocket expenditures, with more than three-quarters of the increasing financial burden of health care being met by households. Health-care expenditures exacerbate poverty, with about 39 million additional people falling into poverty every year as a result of such expenditures. We identify key challenges for the achievement of equity in service provision, and equity in financing and financial risk protection in India. These challenges include an imbalance in resource allocation, inadequate physical access to high-quality health services and human resources for health, high out-of-pocket health expenditures, inflation in health spending, and behavioural factors that affect the demand for appropriate health care. Use of equity metrics in monitoring, assessment, and strategic planning; investment in development of a rigorous knowledge base of health-systems research; development of a refined equity-focused process of deliberative decision making in health reform; and redefinition of the specific responsibilities and accountabilities of key actors are needed to try to achieve equity in health care in India. The implementation of these principles with strengthened public health and primary-care services will help to ensure a more equitable health care for India's population. Copyright © 2011 Elsevier Ltd. All rights reserved.

Equity impact of interventions and policies to reduce smoking in youth: systematic review.

Science.gov (United States)

Brown, Tamara; Platt, Stephen; Amos, Amanda

2014-11-01

A systematic review to assess the equity impact of interventions/policies on youth smoking. Biosis, Cinahl, Cochrane Library, Conference Proceedings Citation Index, Embase, Eric, Medline, Psycinfo, Science Citation Index Expanded, Social Sciences Citation Index and tobacco control experts. Published January 1995 to October 2013. Primary studies of interventions/policies reporting smoking-related outcomes in youth (11-25 years) of lower compared to higher socioeconomic status (SES). References were screened and independently checked. Studies were quality assessed; characteristics and outcomes were extracted. A narrative synthesis by intervention/policy type. Equity impact was assessed as: positive (reduced inequity), neutral (no difference by SES), negative (increased inequity), mixed (equity impact varied) or unclear.Thirty-eight studies of 40 interventions/policies were included: smokefree (12); price/tax (7); mass media campaigns (1); advertising controls (4); access controls (5); school-based programmes (5); multiple policies (3), individual-level cessation support (2), individual-level support for smokefree homes (1). The distribution of equity effects was: 7 positive, 16 neutral, 12 negative, 4 mixed, 1 unclear. All 7 positive equity studies were US-based: price/tax (4), age-of-sales laws (2) and text-messaging cessation support (1). A British school-based intervention (A Stop Smoking in Schools Trial (ASSIST)) showed mixed equity effects (neutral and positive). Most neutral equity studies benefited all SES groups. Very few studies have assessed the equity impact of tobacco control interventions/policies on young people. Price/tax increases had the most consistent positive equity impact. There is a need to strengthen the evidence base for the equity impact of youth tobacco control interventions. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

Predictive Engineering Tools for Injection-Molded Long-Carbon-Thermoplastic Composites: Weight and Cost Analyses

Energy Technology Data Exchange (ETDEWEB)

Nguyen, Ba Nghiep [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Fifield, Leonard S. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Gandhi, Umesh N. [Toyota Research Inst. North America, Ann Arbor, MI (United States); Mori, Steven [MAGNA Exteriors and Interiors Corporation, Aurora, ON (Canada); Wollan, Eric J. [PlastiComp, Inc., Winona, MN (United States)

2016-08-01

This project proposed to integrate, optimize and validate the fiber orientation and length distribution models previously developed and implemented in the Autodesk Simulation Moldflow Insight (ASMI) package for injection-molded long-carbon-fiber thermoplastic composites into a cohesive prediction capability. The current effort focused on rendering the developed models more robust and efficient for automotive industry part design to enable weight savings and cost reduction. The project goal has been achieved by optimizing the developed models, improving and integrating their implementations in ASMI, and validating them for a complex 3D LCF thermoplastic automotive part (Figure 1). Both PP and PA66 were used as resin matrices. After validating ASMI predictions for fiber orientation and fiber length for this complex part against the corresponding measured data, in collaborations with Toyota and Magna PNNL developed a method using the predictive engineering tool to assess LCF/PA66 complex part design in terms of stiffness performance. Structural three-point bending analyses of the complex part and similar parts in steel were then performed for this purpose, and the team has then demonstrated the use of stiffness-based complex part design assessment to evaluate weight savings relative to the body system target (≥ 35%) set in Table 2 of DE-FOA-0000648 (AOI #1). In addition, starting from the part-to-part analysis, the PE tools enabled an estimated weight reduction for the vehicle body system using 50 wt% LCF/PA66 parts relative to the current steel system. Also, from this analysis an estimate of the manufacturing cost including the material cost for making the equivalent part in steel has been determined and compared to the costs for making the LCF/PA66 part to determine the cost per “saved” pound.

Cost reduction in abdominal CT by weight-adjusted dose.

Science.gov (United States)

Arana, Estanislao; Martí-Bonmatí, Luis; Tobarra, Eva; Sierra, Consuelo

2009-06-01

To analyze the influence of contrast dose adjusted by weight vs. fixed contrast dose in the attenuation and cost of abdominal computed tomography (CT). A randomised, consecutive, parallel group study was conducted in 151 patients (74 men and 77 women, age range 22-67 years), studied with the same CT helical protocol. A dose at 1.75 ml/kg was administered in 101 patients while 50 patients had a fixed dose of 120 ml of same non-ionic contrast material (320 mg/ml). Mean enhancements were measured at right hepatic lobe, superior abdominal aorta and inferior cava vein. Statistical analysis was weight-stratified (81 kg). Aortic attenuation was significantly superior (p61 kg in dose-adjusted group, presented higher hepatic attenuation, being statistically significant in those >81 kg (p80 kg, there was an over cost of euro 10.7 per patient. An injection volume of 1.75 ml/kg offers an optimal diagnostic quality with a global savings of euro 1.34 per patient.

Comparison of alternative weight recalibration methods for diagnosis-related groups

Science.gov (United States)

Rogowski, Jeannette Roskamp; Byrne, Daniel J.

1990-01-01

In this article, alternative methodologies for recalibration of the diagnosis-related group (DRG) weights are examined. Based on 1984 data, cost and charge-based weights are less congruent than those calculated with 1981 data. Previous studies using 1981 data demonstrated that cost- and charge-based weights were not very different. Charge weights result in higher payments to surgical DRGs and lower payments to medical DRGs, relative to cost weights. At the provider level, charge weights result in higher payments to large urban hospitals and teaching hospitals, relative to cost weights. PMID:10113568

Game Analysis on Influence Mechanism of Equity Incentive on R&D Investments

OpenAIRE

Cao Wen; Li Yuewen

2014-01-01

A game model between shareholders and manager is built to analyze influence mechanism of equity incentive on R&D investments based on principal-agent theory. Research shows that there are inverted U-shaped relationships between equity incentive and R&D investments, the modest equity should be gave for stimulate manager.

Brand equity

OpenAIRE

Hildebrandt, Lutz; Tischer, Sven

2012-01-01

To explore how occurring critical incidents affect customer-brand relations, this study measures the impact on the basis of an online experiment. For this purpose, 1,122 usable responses are gathered considering the smartphone brands of Apple and Nokia as well as different scenarios. The respective reactions to these negative incidents are evaluated using the concept of customer-based brand equity. More precisely, a structure equation model is specified and differences in latent factor means ...

On financial equilibrium with intermediation costs

DEFF Research Database (Denmark)

Markeprand, Tobias Ejnar

2008-01-01

This paper studies the set of competitive equilibria in financial economies with intermediation costs. We consider an arbitrary dividend structure, which includes options and equity with limited liabilities.We show a general existence result and upper-hemi continuity of the equilibrium correspond......This paper studies the set of competitive equilibria in financial economies with intermediation costs. We consider an arbitrary dividend structure, which includes options and equity with limited liabilities.We show a general existence result and upper-hemi continuity of the equilibrium...

Protocol for the development of a CONSORT-equity guideline to improve reporting of health equity in randomized trials.

Science.gov (United States)

Welch, Vivian; Jull, J; Petkovic, J; Armstrong, R; Boyer, Y; Cuervo, L G; Edwards, Sjl; Lydiatt, A; Gough, D; Grimshaw, J; Kristjansson, E; Mbuagbaw, L; McGowan, J; Moher, D; Pantoja, T; Petticrew, M; Pottie, K; Rader, T; Shea, B; Taljaard, M; Waters, E; Weijer, C; Wells, G A; White, H; Whitehead, M; Tugwell, P

2015-10-21

Health equity concerns the absence of avoidable and unfair differences in health. Randomized controlled trials (RCTs) can provide evidence about the impact of an intervention on health equity for specific disadvantaged populations or in general populations; this is important for equity-focused decision-making. Previous work has identified a lack of adequate reporting guidelines for assessing health equity in RCTs. The objective of this study is to develop guidelines to improve the reporting of health equity considerations in RCTs, as an extension of the Consolidated Standards of Reporting Trials (CONSORT). A six-phase study using integrated knowledge translation governed by a study executive and advisory board will assemble empirical evidence to inform the CONSORT-equity extension. To create the guideline, the following steps are proposed: (1) develop a conceptual framework for identifying "equity-relevant trials," (2) assess empirical evidence regarding reporting of equity-relevant trials, (3) consult with global methods and content experts on how to improve reporting of health equity in RCTs, (4) collect broad feedback and prioritize items needed to improve reporting of health equity in RCTs, (5) establish consensus on the CONSORT-equity extension: the guideline for equity-relevant trials, and (6) broadly disseminate and implement the CONSORT-equity extension. This work will be relevant to a broad range of RCTs addressing questions of effectiveness for strategies to improve practice and policy in the areas of social determinants of health, clinical care, health systems, public health, and international development, where health and/or access to health care is a primary outcome. The outcomes include a reporting guideline (CONSORT-equity extension) for equity-relevant RCTs and a knowledge translation strategy to broadly encourage its uptake and use by journal editors, authors, and funding agencies.

The impact of customer-based brand equity on the operational performance of FMCG companies in India

Directory of Open Access Journals (Sweden)

Bijuna C. Mohan

2016-03-01

Full Text Available Measurement of brand equity has posed a big challenge to the companies in the Indian fast moving consumer goods (FMCG industry. This paper investigates the impact of brand equity on the operational performance of businesses in the Indian FMCG industry. The research study adopts descriptive and exploratory approaches. The results indicate that there is correlation between brand equity and operational performance of business. The practical implications of the findings are that brand equity has to be effectively managed for improved operational performance of business.

Estimation of the Cost of Equity for Mining Companies Using the P-Lefac Method

Science.gov (United States)

Ranosz, Robert

2014-03-01

This article describes one of the methods of estimating the cost of equity, namely the LEFAC method. The name of the method is an acronym of the names of individual financial categories: L - Liquidity, E - Earnings, F - Franchise, A - Assets, C - Capital. It is a scoring method similar to the way used by ING Financial Markets to estimate share prices. A review of literature shows that this method is not widely known and used by enterprises, but it has certain advantages which justify its use. Its main advantages include its easy use and the stability of the results obtained: the calculated cost of equity is never lower than the adopted risk-free rate. The method is particularly useful for companies (enterprises) not listed on stock exchanges. This article is divided into five parts: an introduction, the LEFAC method, the parameterization of the LEFAC method (P-LEFAC), an example calculation and a summary. The second part of this article characterises the LEFAC method. In the third part, the method is parameterized to obtain a function described by formula 22. The following section contains an example calculation for KGHM S.A. and also presents results which mining companies would achieve if they used the discussed method to calculate the cost of their equity. The calculations were performed for mining companies listed on the Warsaw Stocks Exchange and unlisted ones. This part of the article also contains a short comparison of results obtained using the CAPM method and the discussed model. The last section consists of a summary presenting final conclusions. The article ends in a list of the literature referred to. Niniejszy artykuł został poświęcony jednej z metod szacowania kosztu kapitału własnego, a mianowicie metodzie LEFAC. Nazwa metody pochodzi od pierwszych liter wyrazów z języka angielskiego, które określają poszczególne kategorie finansowe: L - Liquidity (płynność), E - Earnings (zyski), F - Franchise (strategia), A - Assets (aktywa), C

Closing the Gaps: Health Equity Research Initiative in India | IDRC ...

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

India's rapid economic progress has its costs. There has been a significant increase in social and economic inequalities by class, caste, ethnicity, gender, and location. ... Most of the studies fail to examine the combination of factors, pathways, and frameworks that influence how health equity issues are conceptualized, ...

Aspects of volatility targeting for South African equity investors

Directory of Open Access Journals (Sweden)

Bhekinkosi Khuzwayo

2014-11-01

Full Text Available We consider so-called volatility targeting strategies in the South African equity market. These strategies are aimed at keeping the volatility of a portfolio consisting of a risky asset, typically an equity index, and cash fixed. This is done by changing the allocation of the assets based on an indicator of the future volatility of the risky asset. We use the three month rolling implied volatility as an indicator of future volatility to influence our asset allocation. We compare investments based on different volatility targets to the performance of bonds, equities, property as well as the Absolute Return peer mean. We examine risk and return characteristics of the volatility targeting strategy as compared to different asset classes.

Climate Change Mitigation: Climate, Health, and Equity Implications of the Visible and the Hidden

OpenAIRE

Shonkoff, Seth Berrin

2012-01-01

Anthropogenic climate change and the mitigation strategies aimed to attenuate it are both issues of great importance for human rights, public health, and socioeconomic equity. To understand these concerns and to better inform policy and strategic action it is critical to explore: 1) the disparities in the costs and benefits of climate shifts; 2) the abilities of different populations to adapt to these shifts; and 3) the social and health equity dimensions of the climate change mitigation stra...

Brand equity in the Pakistani hotel industry

OpenAIRE

Ishaq, Muhammad Ishtiaq; Hussain, Nazia; Asim, Ali Ijaz; Cheema, Luqman J.

2014-01-01

Brand equity is considered as the most important aspect of branding, which is a set of brands' assets and liabilities, its symbol or name that subtracts from or adds the value provided by a product or service to a firm and customers. The current research endeavor was to identify the interrelationship of customer-based brand equity dimensions (brand awareness, brand loyalty, brand image, and service quality) in Pakistani hotel industry. Data was collected from 821 consumers who experienced the...

A Comparison of Alternative Tax Bases

OpenAIRE

John Freebairn

2005-01-01

The revenue, efficiency, equity and operating costs properties of alternative tax bases or taxable sums are compared and contrasted. Initially the assessment is made for generic, comprehensive tax bases on income and consumption flows, wealth stocks, and on transactions. On the criteria of efficiency and equity, there are unresolved conceptual and empirical arguments in choosing between income, consumption and wealth tax bases, but general revenue raising transaction taxes are inferior. In pr...

A low cost, light weight cenosphere–aluminium composite for brake ...

Indian Academy of Sciences (India)

. Home; Journals; Bulletin of Materials Science; Volume 39; Issue 1. A low cost, light weight cenosphere–aluminium composite for brake disc application. V Saravanan P R Thyla S R Balakrishnan. Volume 39 Issue 1 February 2016 pp 299-305 ...

Does hospital competition harm equity? Evidence from the English National Health Service.

Science.gov (United States)

Cookson, Richard; Laudicella, Mauro; Li Donni, Paolo

2013-03-01

Increasing evidence shows that hospital competition under fixed prices can improve quality and reduce cost. Concerns remain, however, that competition may undermine socio-economic equity in the utilisation of care. We test this hypothesis in the context of the pro-competition reforms of the English National Health Service progressively introduced from 2004 to 2006. We use a panel of 32,482 English small areas followed from 2003 to 2008 and a difference in differences approach. The effect of competition on equity is identified by the interaction between market structure, small area income deprivation and year. We find a negative association between market competition and elective admissions in deprived areas. The effect of pro-competition reform was to reduce this negative association slightly, suggesting that competition did not undermine equity. Copyright © 2012 Elsevier B.V. All rights reserved.

Selecting an Architecture for a Safety-Critical Distributed Computer System with Power, Weight and Cost Considerations

Science.gov (United States)

Torres-Pomales, Wilfredo

2014-01-01

This report presents an example of the application of multi-criteria decision analysis to the selection of an architecture for a safety-critical distributed computer system. The design problem includes constraints on minimum system availability and integrity, and the decision is based on the optimal balance of power, weight and cost. The analysis process includes the generation of alternative architectures, evaluation of individual decision criteria, and the selection of an alternative based on overall value. In this example presented here, iterative application of the quantitative evaluation process made it possible to deliberately generate an alternative architecture that is superior to all others regardless of the relative importance of cost.

Balancing equity and efficiency in the Dutch basic benefits package using the principle of proportional shortfall.

Science.gov (United States)

van de Wetering, E J; Stolk, E A; van Exel, N J A; Brouwer, W B F

2013-02-01

Economic evaluations are increasingly used to inform decisions regarding the allocation of scarce health care resources. To systematically incorporate societal preferences into these evaluations, quality-adjusted life year gains could be weighted according to some equity principle, the most suitable of which is a matter of frequent debate. While many countries still struggle with equity concerns for priority setting in health care, the Netherlands has reached a broad consensus to use the concept of proportional shortfall. Our study evaluates the concept and its support in the Dutch health care context. We discuss arguments in the Netherlands for using proportional shortfall and difficulties in transitioning from principle to practice. In doing so, we address universal issues leading to a systematic consideration of equity concerns for priority setting in health care. The article thus has relevance to all countries struggling with the formalization of equity concerns for priority setting.

PERCEPTION OF THE FINANCIAL MANAGERS OF THE SMALL AND MIDDLE BUSINESS WITH RELATIONSHIP AT THE COST OF CAPITAL

Directory of Open Access Journals (Sweden)

Márcio André Veras Machado

2006-06-01

Full Text Available This article has as purpose to analyze the degree of the financial managers' perception among small and middle organizations about the capital cost. The data were collected within 27 companies in 10 sections of the Brazilian economy. The method chosen for data collection relies greatly on personal interviews based on route previously elaborated. The interviews demonstrated that most of the interviewees even does not know about the cost of equity. The ones who know about it, in its majority, measure like as the minimum rate of profitability, measured for the cost of lost opportunity. In the regard of the cost of debt, most of them know and were unanimous to confirm that the cost of debt is explicit and it already comes defined by the financial institutions, in its contracts. It was observed that among the managers interviewed which affirmed to know the cost of equity and cost of debt, the great part were in the management position, had college degree in accounting or engineering,, had more than 15 years of experience in these functions, had over 40 years, worked within companies 21 years old and over in the market, and were basically male. Key-words: Cost of Equity, Cost of Debt, Small and Middle Business.

Cost reduction in abdominal CT by weight-adjusted dose

International Nuclear Information System (INIS)

Arana, Estanislao; Marti-Bonmati, Luis; Tobarra, Eva; Sierra, Consuelo

2009-01-01

Aim: To analyze the influence of contrast dose adjusted by weight vs. fixed contrast dose in the attenuation and cost of abdominal computed tomography (CT). Materials and methods: A randomised, consecutive, parallel group study was conducted in 151 patients (74 men and 77 women, age range 22-67 years), studied with the same CT helical protocol. A dose at 1.75 ml/kg was administered in 101 patients while 50 patients had a fixed dose of 120 ml of same non-ionic contrast material (320 mg/ml). Mean enhancements were measured at right hepatic lobe, superior abdominal aorta and inferior cava vein. Statistical analysis was weight-stratified ( 81 kg). Results: Aortic attenuation was significantly superior (p 61 kg in dose-adjusted group, presented higher hepatic attenuation, being statistically significant in those >81 kg (p 80 kg, there was an over cost of Euro 10.7 per patient. Conclusions: An injection volume of 1.75 ml/kg offers an optimal diagnostic quality with a global savings of Euro 1.34 per patient.

A theoretical and practical perspective on the equity risk premium

NARCIS (Netherlands)

Salomons, Roelof

In historical perspective, equity returns have been higher than interest rates but have also varied a good deal more. However, the average excess return has been larger than what could be expected based on classical equilibrium theory: the equity risk premium (ERP) puzzle. This paper has two

An equity tool for health impact assessments: Reflections from Mongolia

International Nuclear Information System (INIS)

Snyder, Jeremy; Wagler, Meghan; Lkhagvasuren, Oyun; Laing, Lory; Davison, Colleen; Janes, Craig

2012-01-01

A health impact assessment (HIA) is a tool for assessing the potential effects of a project or policy on a population's health. In this paper, we discuss a tool for successfully integrating equity concerns into HIAs. This discussion is the product of collaboration by Mongolian and Canadian experts, and it incorporates comments and suggestions of participants of a workshop on equity focused HIAs that took place in Mongolia in October, 2010. Our motivation for discussing this tool is based on the observation that existing HIAs tend either to fail to define equity or use problematic accounts of this concept. In this paper we give an overview of socio-demographic and health indicators in Mongolia and briefly discuss its mining industry. We then review three accounts of equity and argue for the importance of developing a consensus understanding of this concept when integrating considerations of equity into an HIA. Finally, we present findings from the workshop in Mongolia and outline a tool, derived from lessons from this workshop, for critically considering and integrating the concept of equity into an HIA.

The Factor Structure in Equity Options

DEFF Research Database (Denmark)

Christoffersen, Peter; Fournier, Mathieu; Jacobs, Kris

Principal component analysis of equity options on Dow-Jones firms reveals a strong factor structure. The first principal component explains 77% of the variation in the equity volatility level, 77% of the variation in the equity option skew, and 60% of the implied volatility term structure across...... equities. Furthermore, the first principal component has a 92% correlation with S&P500 index option volatility, a 64% correlation with the index option skew, and a 80% correlation with the index option term structure. We develop an equity option valuation model that captures this factor structure...

Analyzing consumer-based brand equity on Facebook: The impact of brand gender

OpenAIRE

Machado, J. C.; Azar, Salim L.; Vacas-de-Carvalho, Leonor; Mendes, A.; André, R.

2016-01-01

In recent years, Facebook and other social media have become key players in branding activities. However, empirical research is still needed about the way in which consumerbased brand equity is created on social media. The purpose of this paper is to study the relationship between masculine and feminine brand personality and brand equity, on Facebook, and to analyze the mediating role of consumer-brand engagement and brand love on this relationship. Data were collected using an...

Configuration space analysis of common cost functions in radiotherapy beam-weight optimization algorithms

Energy Technology Data Exchange (ETDEWEB)

Rowbottom, Carl Graham [Joint Department of Physics, Institute of Cancer Research and the Royal Marsden NHS Trust, Sutton, Surrey (United Kingdom); Webb, Steve [Joint Department of Physics, Institute of Cancer Research and the Royal Marsden NHS Trust, Sutton, Surrey (United Kingdom)

2002-01-07

The successful implementation of downhill search engines in radiotherapy optimization algorithms depends on the absence of local minima in the search space. Such techniques are much faster than stochastic optimization methods but may become trapped in local minima if they exist. A technique known as 'configuration space analysis' was applied to examine the search space of cost functions used in radiotherapy beam-weight optimization algorithms. A downhill-simplex beam-weight optimization algorithm was run repeatedly to produce a frequency distribution of final cost values. By plotting the frequency distribution as a function of final cost, the existence of local minima can be determined. Common cost functions such as the quadratic deviation of dose to the planning target volume (PTV), integral dose to organs-at-risk (OARs), dose-threshold and dose-volume constraints for OARs were studied. Combinations of the cost functions were also considered. The simple cost function terms such as the quadratic PTV dose and integral dose to OAR cost function terms are not susceptible to local minima. In contrast, dose-threshold and dose-volume OAR constraint cost function terms are able to produce local minima in the example case studied. (author)

Does Opaqueness Make Equity Capital Expensive for Banks?

Directory of Open Access Journals (Sweden)

Karlo Kauko

2014-12-01

Full Text Available Bank managers often claim that equity is expensive, which contradicts the Modigliani-Miller irrelevance theorem. An opaque bank must signal its solvency by paying high and stable dividends in order to keep depositors tranquil. This signalling may require costly liquidations if the return on assets has been poor, but not paying the dividend might trigger a run. A strongly capitalized bank should keep substantial amounts of risk-free yet non-productive currency because the number of shares is high, which is costly. The dividend is informative of the state of the bank; rational depositors react to it.

Iran's Health Reform Plan: Measuring Changes in Equity Indices.

Science.gov (United States)

Assari Arani, Abbas; Atashbar, Tohid; Antoun, Joseph; Bossert, Thomas

2018-03-01

Two years after the implementation of the Health Sector Evolution Plan (HSEP), this study evaluated the effects of the plan on health equity indices. The main indices assessed by the study were the Out-of-Pocket (OOP) health expenditures, the Fairness in Financial Contribution (FFC) to the health system index, the index of households' Catastrophic Health Expenditure (CHE) and the headcount ratio of Impoverishing Health Expenditure (IHE). The per capita share of costs for total health services has been decreased. The lowered costs have been more felt in rural areas, generally due to sharp decrease in inpatient costs. Per capita pay for outpatient services is almost constant or has slightly increased. The reform plan has managed to improve households' Catastrophic Health Expenditure (CHE) index from an average of 2.9% before the implementation of the plan to 2.3% after the plan. The Fairness in Financial Contribution (FFC) to the health system index has worsened from 0.79 to 0.76, and the headcount ratio of Impoverishing Health Expenditure (IHE) index deteriorated after the implementation of plan from 0.34 to 0.50. Considerable improvement, in decreasing the burden of catastrophic hospital costs in low income strata which is about 26% relative to the time before the implementation of the plan can be regarded as the main achievement of the plan, whereas the worsening in the headcount ratio of IHE and FFC are the equity bottlenecks of the plan.

The Malawi National Tuberculosis Programme: an equity analysis

Directory of Open Access Journals (Sweden)

Chimzizi Rhehab

2007-12-01

Full Text Available Abstract Background Until 2005, the Malawi National Tuberculosis Control Programme had been implemented as a vertical programme. Working within the Sector Wide Approach (SWAp provides a new environment and new opportunities for monitoring the equity performance of the programme. This paper synthesizes what is known on equity and TB in Malawi and highlights areas for further action and advocacy. Methods A synthesis of a wide range of published and unpublished reports and studies using a variety of methodological approaches was undertaken and complemented by additional analysis of routine data on access to TB services. The analysis and recommendations were developed, through consultation with key stakeholders in Malawi and a review of the international literature. Results The lack of a prevalence survey severely limits the epidemiological knowledge base on TB and vulnerability. TB cases have increased rapidly from 5,334 in 1985 to 28,000 in 2006. This increase has been attributed to HIV/AIDS; 77% of TB patients are HIV positive. The age/gender breakdown of TB notification cases mirrors the HIV epidemic with higher rates amongst younger women and older men. The WHO estimates that only 48% of TB cases are detected in Malawi. The complexity of TB diagnosis requires repeated visits, long queues, and delays in sending results. This reduces poor women and men's ability to access and adhere to services. The costs of seeking TB care are high for poor women and men – up to 240% of monthly income as compared to 126% of monthly income for the non-poor. The TB Control Programme has attempted to increase access to TB services for vulnerable groups through community outreach activities, decentralising DOT and linking with HIV services. Conclusion The Programme of Work which is being delivered through the SWAp is a good opportunity to enhance equity and pro-poor health services. The major challenge is to increase case detection, especially amongst the poor

Exploring weight loss services in primary care and staff views on using a web-based programme.

Science.gov (United States)

Ware, Lisa J; Williams, Sarah; Bradbury, Katherine; Brant, Catherine; Little, Paul; Hobbs, F D Richard; Yardley, Lucy

2012-01-01

Demand is increasing for primary care to deliver effective weight management services to patients, but research suggests that staff feel inadequately resourced for such a role. Supporting service delivery with a free and effective web-based weight management programme could maximise primary care resource and provide cost-effective support for patients. However, integration of e-health into primary care may face challenges. To explore primary care staff experiences of delivering weight management services and their perceptions of a web-based weight management programme to aid service delivery. Focus groups were conducted with primary care physicians, nurses and healthcare assistants (n = 36) involved in delivering weight loss services. Data were analysed using inductive thematic analysis. Participants thought that primary care should be involved in delivering weight management, especially when weight was aggravating health problems. However, they felt under-resourced to deliver these services and unsure as to the effectiveness of their input, as routine services were not evaluated. Beliefs that current services were ineffective resulted in staff reluctance to allocate more resources. Participants were hopeful that supplementing practice with a web-based weight management programme would enhance patient services and promote service evaluation. Although primary care staff felt they should deliver weight loss services, low levels of faith in the efficacy of current treatments resulted in provision of under-resourced and 'ad hoc' services. Integration of a web-based weight loss programme that promotes service evaluation and provides a cost-effective option for supporting patients may encourage practices to invest more in weight management services.

Exploring weight loss services in primary care and staff views on using a web-based programme

Directory of Open Access Journals (Sweden)

Lisa J Ware

2013-09-01

Full Text Available Background Demand is increasing for primary care to deliver effective weight management services to patients, but research suggests that staff feel inadequately resourced for such a role. Supporting service delivery with a free and effective web-based weight management programme could maximise primary care resource and provide cost-effective support for patients. However, integration of ehealth into primary care may face challenges.Objectives To explore primary care staff experiences of delivering weight management services and their perceptions of a web-based weight management programme to aid service delivery.Methods Focus groups were conducted with primary care physicians, nurses and healthcare assistants (n = 36 involved in delivering weight loss services. Data were analysed using inductive thematic analysis.Results Participants thought that primary care should be involved in delivering weight management, especially when weight was aggravating health problems. However, they felt under-resourced to deliver these services and unsure as to the effectiveness of their input, as routine services were not evaluated. Beliefs that current services were ineffective resulted in staff reluctance to allocate more resources. Participants were hopeful that supplementing practice with a web-based weight management programme would enhance patient services and promote service evaluation.Conclusions Although primary care staff felt they should deliver weight loss services, low levels of faith in the efficacy of current treatments resulted in provision of under-resourced and ‘ad hoc’ services. Integration of a web-based weight loss programme that promotes service evaluation and provides a cost-effective option for supporting patients may encourage practices to invest more in weight management services.

Exploring Lenggong Valley World Heritage Site’s Brand Equity Dimensions

Directory of Open Access Journals (Sweden)

Noor Shuhaida Md

2014-01-01

Full Text Available This study explores the brand equity dimensions of a world heritage destination brand, namely the Lenggong Valley World Heritage Site. The study adopted a survey-based brand equity metrics from a previous study that features 27 brand equity dimensions for products. The 27 dimensions were used as the start-off point in exploring the brand equity dimensions for the focal destination brand. The questions were modified to reflect features of heritage destinations. Principal factor analyses were run on data collected from 100 local tourists. The factor analyses yielded 10 factors, namely Trust, Bonding, Service, Acceptability, Value, Heritage, Ambiance, Knowledge, Persistence and Relevance. A new dimension that emerged from the data was value that encompasses both non-financial and financial dimensions.

Equity trade-offs in conservation decision making.

Science.gov (United States)

Law, Elizabeth A; Bennett, Nathan J; Ives, Christopher D; Friedman, Rachel; Davis, Katrina J; Archibald, Carla; Wilson, Kerrie A

2018-04-01

Conservation decisions increasingly involve multiple environmental and social objectives, which result in complex decision contexts with high potential for trade-offs. Improving social equity is one such objective that is often considered an enabler of successful outcomes and a virtuous ideal in itself. Despite its idealized importance in conservation policy, social equity is often highly simplified or ill-defined and is applied uncritically. What constitutes equitable outcomes and processes is highly normative and subject to ethical deliberation. Different ethical frameworks may lead to different conceptions of equity through alternative perspectives of what is good or right. This can lead to different and potentially conflicting equity objectives in practice. We promote a more transparent, nuanced, and pluralistic conceptualization of equity in conservation decision making that particularly recognizes where multidimensional equity objectives may conflict. To help identify and mitigate ethical conflicts and avoid cases of good intentions producing bad outcomes, we encourage a more analytical incorporation of equity into conservation decision making particularly during mechanistic integration of equity objectives. We recommend that in conservation planning motivations and objectives for equity be made explicit within the problem context, methods used to incorporate equity objectives be applied with respect to stated objectives, and, should objectives dictate, evaluation of equity outcomes and adaptation of strategies be employed during policy implementation. © 2017 Society for Conservation Biology.

QUALICOPC: Birinci basamak sağlik hizmetlerini kalite, maliyet ve aşitlik açisindan değerlendiren çok ülkeli bir çalişma* = QUALICOPC: a multi-country study evaluating quality, costs and equity in primary care.

NARCIS (Netherlands)

Akman, M.; Kalaça, S.; Sargin, M.; Tuncel, B.; Ünlüoğlu, I.; Uğurlu, M.; Schäfer, W.L.A.; Boerma, W.G.W.; Groenewegen, P.P.

2012-01-01

Objectives: The QUALICOPC (Quality and Costs of Primary Care in Europe) study aims to evaluate the performance of primary care systems in Europe in terms of quality, equity and costs. QUALICOPC is funded by the European Commission under the "Seventh Framework Program". In this article the

Time series regression-based pairs trading in the Korean equities market

Science.gov (United States)

Kim, Saejoon; Heo, Jun

2017-07-01

Pairs trading is an instance of statistical arbitrage that relies on heavy quantitative data analysis to profit by capitalising low-risk trading opportunities provided by anomalies of related assets. A key element in pairs trading is the rule by which open and close trading triggers are defined. This paper investigates the use of time series regression to define the rule which has previously been identified with fixed threshold-based approaches. Empirical results indicate that our approach may yield significantly increased excess returns compared to ones obtained by previous approaches on large capitalisation stocks in the Korean equities market.

Increased water charges improve efficiency and equity in an irrigation system

Directory of Open Access Journals (Sweden)

Andrew Reid. Bell

2016-09-01

Full Text Available Conventional wisdom in many agricultural systems across the world is that farmers cannot, will not, or should not pay the full costs associated with surface water delivery. Across Organisation for Economic Co-operation and Development (OECD countries, only a handful can claim complete recovery of operation, maintenance, and capital costs; across Central and South Asia, fees are lower still, with farmers in Nepal, India, and Kazakhstan paying fractions of a U.S. penny for a cubic meter of water. In Pakistan, fees amount to roughly USD 1-2 per acre per season. However, farmers in Pakistan spend orders of magnitude more for diesel fuel to pump groundwater each season, suggesting a latent willingness to spend for water that, under the right conditions, could potentially be directed toward water-use fees for surface water supply. Although overall performance could be expected to improve with greater cost recovery, asymmetric access to water in canal irrigation systems leaves the question open as to whether those benefits would be equitably shared among all farmers in the system. We develop an agent-based model (ABM of a small irrigation command to examine efficiency and equity outcomes across a range of different cost structures for the maintenance of the system, levels of market development, and assessed water charges. We find that, robust to a range of different cost and structural conditions, increased water charges lead to gains in both efficiency and concomitant improvements in equity as investments in canal infrastructure and system maintenance improve the conveyance of water resources further down watercourses. This suggests that, under conditions in which (1 farmers are currently spending money to pump groundwater to compensate for a failing surface water system, and (2 there is the possibility that through initial investment to provide perceptibly better water supply, genuine win-win solutions can be attained through higher water-use fees to

Performance of Active Extension Strategies: Evidence from the Australian Equities Market

Directory of Open Access Journals (Sweden)

Reuben Segara

2012-09-01

Full Text Available This study examines the performance of several active extension strategies, commonly known as 130/30, in the Australian equities market. A detailed analysis of the factors affecting performance is explored using Monte Carlo simulations based on eight years of historical returns for the constituents of the S&P/ASX 200 index under a variety of realistic cost assumptions. We find evidence of a statistically significant increase in performance of active extension strategies over equivalent long-only portfolios, holding all other factors constant. The observed increase is highest for managers with greater levels of skill, where any tracking error limit is high and total costs are low. This is one of the first studies in the Australian market and is expected to have a high degree of relevance to institutional investors considering active extension strategies.

Levelised unit electricity cost comparison of alternate technologies for baseload generation in Ontario

International Nuclear Information System (INIS)

Ayres, M.; McRae, M.; Stogran, M.

2004-08-01

This report provides a comparison of the lifetime cost of constructing, operating and decommissioning new generation suitable for supplying baseload power by early in the next decade. New baseload generation options in Ontario are nuclear, coal-fired steam turbines or combined cycle gas turbines (CCGT). Nuclear and coal-fired units are characterised by high capital costs and low operating costs. As such, they are candidates for baseload operation only. Gas-fired generation is characterised by lower capital costs and higher operating costs and thus may meet the requirements for operation as peaking and/or baseload generation. The comparison of baseload generating technologies is made by reference to the estimated levelised unit electricity cost (LUEC). The LUEC can be thought of as a 'supply cost', where the unit cost is the price needed to recover all costs over the period. It is determined by finding the price that sets the sum of all future discounted cash flows (net present value, or NPV) to zero. It can also be thought of as representing the constant real wholesale price of electricity that meets the financing cost, debt repayment, income tax and cash flow constraints associated with the construction operation and decommissioning of a generating plant. Levelised unit cost comparisons are usually made with different sets of financing assumptions. This report considers two base cases, which we describe as 'merchant' and 'public' financing. The term 'merchant plant' is used to refer to ones that are built and operated by private investors. These investors pay for their capital through debt and by raising equity, and thus pay return on equity and interest on debt throughout their lifetime. These projects include income taxes, both provincial and federal. Publicly financed projects typically are not subject to income taxes or to the same constraints on raising finance through issuing debt and equity. However, they are constrained to provide a rate of return. The

School Integration Matters: Research-Based Strategies to Advance Equity

Science.gov (United States)

Frankenberg, Erica, Ed.; Garces, Liliana M., Ed.; Hopkins, Megan, Ed.

2016-01-01

More than 60 years after the "Brown v. Board of Education" decision declared segregated schooling inherently unequal, this timely book sheds light on how and why U.S. schools are experiencing increasing segregation along racial, socioeconomic, and linguistic lines. It offers policy and programmatic alternatives for advancing equity and…

Social Security and the Equity Premium Puzzle

OpenAIRE

Olovsson, Conny

2004-01-01

This paper shows that social security may be an important factor in explaining the equity premium puzzle. In the absence of shortselling constraints, the young shortsell bonds to the middle-aged and buy equity. Social security reduces the bond demand of the middle-aged, thereby restricting the possibilities of the young to finance their equity purchases. Their equity demand increases as does the average return to equity. Social security also increases the covariance between future consumption...

Health care and equity in India

Science.gov (United States)

Balarajan, Yarlini; Selvaraj, S; Subramanian, S V

2011-01-01

India’s health system faces the ongoing challenge of responding to the needs of the most disadvantaged members of Indian society. Despite progress in improving access to health care, inequalities by socioeconomic status, geography and gender continue to persist. This is compounded by high out-of-pocket expenditures, with the rising financial burden of health care falling overwhelming on private households, which account for more than three-quarter of health spending in India. Health expenditures are responsible for more than half of Indian households falling into poverty; the impact of this has been increasing pushing around 39 million Indians into poverty each year. In this paper, we identify key challenges to equity in service delivery, and equity in financing and financial risk protection in India. These include imbalanced resource allocation, limited physical access to quality health services and inadequate human resources for health; high out-of-pocket health expenditures, health spending inflation, and behavioral factors that affect the demand for appropriate health care. Complementing other paper in this Series, we argue for the application of certain principles in the pursuit of equity in health care in India. These are the adoption of equity metrics in monitoring, evaluation and strategic planning, investment in developing a rigorous knowledge-base of health systems research; development of more equity-focused process of deliberative decision-making in health reform, and redefinition of the specific responsibilities and accountabilities of key actors. The implementation of these principles, together with strengthening of public health and primary care services, provide an approach for ensuring more equitable health care for India’s population. PMID:21227492

Brand equity and willingness to pay for condoms in Zimbabwe.

Science.gov (United States)

Evans, W Douglas; Taruberekera, Noah; Longfield, Kim; Snider, Jeremy

2011-10-26

Zimbabwe suffers from one of the greatest burdens of HIV/AIDS in the world that has been compounded by social and economic instability in the past decade. However, from 2001 to 2009 HIV prevalence among 15-49 year olds declined from 26% to approximately 14%. Behavior change and condom use may in part explain this decline.PSI-Zimbabwe socially markets the Protector Plus (P+) branded line of condoms. When Zimbabwe converted to a dollar-based economy in 2009, the price of condoms was greatly increased and new marketing efforts were undertaken. This paper evaluates the role of condom marketing, a multi-dimensional scale of brand peceptions (brand equity), and price in condom use behavior. We randomly sampled sexually active men age 15-49 from 3 groups - current P+ users, former users, and free condom users. We compared their brand equity and willingness to pay based on survey results. We estimated multivariable logistic regression models to compare the 3 groups. We found that the brand equity scale was positive correlated with willingness to pay and with condom use. Former users also indicated a high willingness to pay for condoms. We found differences in brand equity between the 3 groups, with current P+ users having the highest P+ brand equity. As observed in previous studies, higher brand equity was associated with more of the targeted health behavior, in this case and more consistent condom use. Zimbabwe men have highly positive brand perceptions of P+. There is an opportunity to grow the total condom market in Zimbabwe by increasing brand equity across user groups. Some former users may resume using condoms through more effective marketing. Some free users may be willing to pay for condoms. Achieving these objectives will expand the total condom market and reduce HIV risk behaviors.

User response and equity considerations regarding emission cap-and-trade schemes for travel

International Nuclear Information System (INIS)

Perrels, A.

2010-01-01

In most countries with greenhouse gas emission reduction commitments, transportation has been relatively spared, thus, far in the targeting of reduction obligations, owing to the supposedly high marginal cost. With the prospect of tightening reduction targets, pressure is, however, mounting to address transportation more seriously in the near term and not to rely solely on medium to long-term breakthroughs of alternative fuel technologies. This means stricter policies at the demand side of the mobility market. In addition to fiscal and spatial policies, cap-and-trade systems have been put forward as a new option that deserves serious consideration. This paper reviews the possibilities and pitfalls of such a system applied to passenger transport. Key concerns are the transaction costs of the system and trade-offs between transaction cost and equity effects. A simple system with low(er) transaction cost is more likely to invoke politically sensitive equity effects. On the basis of the recent upsurge in monitoring and feedback studies, one may also conclude that the organisation and tailoring of the information interfaces for the household/traveller requires still elaborate study and testing.

Craft's brand equity in CZ, focusing on canoeing

OpenAIRE

Šťastný, Šimon

2013-01-01

Title: Craft's brand equity in CZ, focusing on flat water canoeing. Objectives: The objective of this dissertation is to find out what is the Craft's brand equity and to suggest how to improve it on the Czech market. That would be based on marketing research and supplementary interview. I will be using marketing research and supplementary interview. Methods: In this dissertation the method of electronic questioning was used. The questionnaires were sent by email address after first contact on...

Alleviating inequality in climate policy costs : An integrated perspective on mitigation, damage and adaptation

NARCIS (Netherlands)

De Cian, E.; Hof, A. F.; Marangoni, G.; Tavoni, M.; van Vuuren, Detlef

2016-01-01

Equity considerations play an important role in international climate negotiations. While policy analysis has often focused on equity as it relates to mitigation costs, there are large regional differences in adaptation costs and the level of residual damage. This paper illustrates the relevance of

Food sovereignty, food security and health equity: a meta-narrative mapping exercise.

Science.gov (United States)

Weiler, Anelyse M; Hergesheimer, Chris; Brisbois, Ben; Wittman, Hannah; Yassi, Annalee; Spiegel, Jerry M

2015-10-01

There has been growing policy interest in social justice issues related to both health and food. We sought to understand the state of knowledge on relationships between health equity--i.e. health inequalities that are socially produced--and food systems, where the concepts of 'food security' and 'food sovereignty' are prominent. We undertook exploratory scoping and mapping stages of a 'meta-narrative synthesis' on pathways from global food systems to health equity outcomes. The review was oriented by a conceptual framework delineating eight pathways to health (in)equity through the food system: 1--Multi-Scalar Environmental, Social Context; 2--Occupational Exposures; 3--Environmental Change; 4--Traditional Livelihoods, Cultural Continuity; 5--Intake of Contaminants; 6--Nutrition; 7--Social Determinants of Health and 8--Political, Economic and Regulatory context. The terms 'food security' and 'food sovereignty' were, respectively, paired with a series of health equity-related terms. Combinations of health equity and food security (1414 citations) greatly outnumbered pairings with food sovereignty (18 citations). Prominent crosscutting themes that were observed included climate change, biotechnology, gender, racialization, indigeneity, poverty, citizenship and HIV as well as institutional barriers to reducing health inequities in the food system. The literature indicates that food sovereignty-based approaches to health in specific contexts, such as advancing healthy school food systems, promoting soil fertility, gender equity and nutrition, and addressing structural racism, can complement the longer-term socio-political restructuring processes that health equity requires. Our conceptual model offers a useful starting point for identifying interventions with strong potential to promote health equity. A research agenda to explore project-based interventions in the food system along these pathways can support the identification of ways to strengthen both food

Report of the Commission to Study the Adequacy and Equity of Certain Cost Components of the School Funding Formula. Report to Joint Standing Committee on Education and Cultural Affairs, Maine State Legislature

Science.gov (United States)

Center for Education Policy, Applied Research, and Evaluation, 2015

2015-01-01

The Commission to Study the Adequacy and Equity of Certain Cost Components of the School Funding Formula was created in legislation crafted by the Joint Standing Committee on Education of the 126th Legislature (the "Education Committee"). The legislation was enacted as Resolve 2014, chapter 114. Creation of the Commission is the latest…

Enhancing health care equity with Indigenous populations: evidence-based strategies from an ethnographic study.

Science.gov (United States)

Browne, Annette J; Varcoe, Colleen; Lavoie, Josée; Smye, Victoria; Wong, Sabrina T; Krause, Murry; Tu, David; Godwin, Olive; Khan, Koushambhi; Fridkin, Alycia

2016-10-04

Structural violence shapes the health of Indigenous peoples globally, and is deeply embedded in history, individual and institutional racism, and inequitable social policies and practices. Many Indigenous communities have flourished, however, the impact of colonialism continues to have profound health effects for Indigenous peoples in Canada and internationally. Despite increasing evidence of health status inequities affecting Indigenous populations, health services often fail to address health and social inequities as routine aspects of health care delivery. In this paper, we discuss an evidence-based framework and specific strategies for promoting health care equity for Indigenous populations. Using an ethnographic design and mixed methods, this study was conducted at two Urban Aboriginal Health Centres located in two inner cities in Canada, which serve a combined patient population of 5,500. Data collection included in-depth interviews with a total of 114 patients and staff (n = 73 patients; n = 41 staff), and over 900 h of participant observation focused on staff members' interactions and patterns of relating with patients. Four key dimensions of equity-oriented health services are foundational to supporting the health and well-being of Indigenous peoples: inequity-responsive care, culturally safe care, trauma- and violence-informed care, and contextually tailored care. Partnerships with Indigenous leaders, agencies, and communities are required to operationalize and tailor these key dimensions to local contexts. We discuss 10 strategies that intersect to optimize effectiveness of health care services for Indigenous peoples, and provide examples of how they can be implemented in a variety of health care settings. While the key dimensions of equity-oriented care and 10 strategies may be most optimally operationalized in the context of interdisciplinary teamwork, they also serve as health equity guidelines for organizations and providers working in

Randomised controlled trial and economic analysis of an internet-based weight management programme: POWeR+ (Positive Online Weight Reduction).

Science.gov (United States)

Little, Paul; Stuart, Beth; Hobbs, Fd Richard; Kelly, Jo; Smith, Emily R; Bradbury, Katherine J; Hughes, Stephanie; Smith, Peter Wf; Moore, Michael V; Lean, Mike Ej; Margetts, Barrie M; Byrne, Christopher D; Griffin, Simon; Davoudianfar, Mina; Hooper, Julie; Yao, Guiqing; Zhu, Shihua; Raftery, James; Yardley, Lucy

2017-01-01

Behavioural counselling with intensive follow-up for obesity is effective, but in resource-constrained primary care settings briefer approaches are needed. To estimate the clinical effectiveness and cost-effectiveness of an internet-based behavioural intervention with regular face-to-face or remote support in primary care, compared with brief advice. Individually randomised three-arm parallel trial with health economic evaluation and nested qualitative interviews. Primary care general practices in the UK. Patients with a body mass index of ≥ 30 kg/m 2 (or ≥ 28 kg/m 2 with risk factors) identified from general practice records, recruited by postal invitation. Positive Online Weight Reduction (POWeR+) is a 24-session, web-based weight management intervention completed over 6 months. Following online registration, the website randomly allocated participants using computer-generated random numbers to (1) the control intervention ( n  = 279), which had previously been demonstrated to be clinically effective (brief web-based information that minimised pressure to cut down foods, instead encouraging swaps to healthier choices and increasing fruit and vegetables, plus 6-monthly nurse weighing); (2) POWeR+F ( n  = 269), POWeR+ supplemented by face-to-face nurse support (up to seven contacts); or (3) POWeR+R ( n  = 270), POWeR+ supplemented by remote nurse support (up to five e-mails or brief telephone calls). The primary outcome was a modelled estimate of average weight reduction over 12 months, assessed blind to group where possible, using multiple imputation for missing data. The secondary outcome was the number of participants maintaining a 5% weight reduction at 12 months. A total of 818 eligible individuals were randomised using computer-generated random numbers. Weight change, averaged over 12 months, was documented in 666 out of 818 participants (81%; control, n  = 227; POWeR+F, n  = 221; POWeR+R, n  = 218). The control group

Adding evidence-based behavioral weight loss strategies to a statewide wellness campaign: a randomized clinical trial.

Science.gov (United States)

Leahey, Tricia M; Thomas, Graham; Fava, Joseph L; Subak, Leslee L; Schembri, Michael; Krupel, Katie; Kumar, Rajiv; Weinberg, Brad; Wing, Rena R

2014-07-01

We determined the efficacy and cost-effectiveness of adding an evidence-based Internet behavioral weight loss intervention alone or combined with optional group sessions to ShapeUp Rhode Island 2011 (SURI), a 3-month statewide wellness campaign. We randomized participants (n = 230; body mass index = 34.3 ±6.8 kg/m(2); 84% female) to the standard SURI program (S) or to 1 of 2 enhanced programs: SURI plus Internet behavioral program (SI) or SI plus optional group sessions (SIG). The primary outcome was weight loss at the end of the 3-month program. Weight losses differed among all 3 conditions (S: 1.1% ±0.9%; SI: 4.2% ±0.6%; SIG: 6.1% ±0.6%; Ps ≤ .04). Both SI and SIG increased the percentage of individuals who achieved a 5% weight loss (SI: 42%; SIG: 54%; S: 7%; Ps < .001). Cost per kilogram of weight loss was similar for S ($39) and SI ($35); both were lower than SIG ($114). Although weight losses were greatest at the end of SURI with optional group sessions, the addition of an Internet behavioral program was the most cost-effective method to enhance weight losses.

Putting equity center stage: challenging evidence-free reforms.

Science.gov (United States)

Whitehead, Margaret; Dahlgren, Göran; McIntyre, Di

2007-01-01

Do we have an "evidence-free zone" around the health sector reforms that have taken place over the past few decades? Certainly, many of the policy prescriptions have been based on ideology and assumptions about the likely impact of policies, rather than evidence-based. The provision of health care is increasingly treated as a commodity that can be subjected to the same prescription as other goods: privatization, competition, deregulation, decentralization. Evidence has slowly emerged over the 1990s and early 2000s on the adverse effects of these policy prescriptions on equity, particularly in low- and middle-income countries, but a shift in policy is barely perceptible. There is a need for a fresh approach that puts equity center stage. A gap that must be filled is on the "demand" or "need" side: in particular, the impact of policy changes on families and communities. This article is the first in a series of eight articles that present the findings of studies that attempt to fill this gap, helping to develop a more evidence-based approach to equity and health sector policy from the users'/potential patients' perspective.

Equity and REDD+ in the Media: a Comparative Analysis of Policy Discourses

Directory of Open Access Journals (Sweden)

Monica Di Gregorio

2013-06-01

Full Text Available Reducing emissions from deforestation and forest degradation (REDD+ is primarily a market-based mechanism for achieving the effective reduction of carbon emissions from forests. Increasingly, however, concerns are being raised about the implications of REDD+ for equity, including the importance of equity for achieving effective carbon emission reductions from forests. Equity is a multifaceted concept that is understood differently by different actors and at different scales, and public discourse helps determine which equity concerns reach the national policy agenda. Results from a comparative media analysis of REDD+ public discourse in four countries show that policy makers focus more on international than national equity concerns, and that they neglect both the need for increased participation in decision making and recognition of local and indigenous rights. To move from addressing the symptoms to addressing the causes of inequality in REDD+, policy actors need to address issues related to contextual equity, that is, the social and political root causes of inequality.

Designing Modern Equity Portfolios

OpenAIRE

Ronald Jean Degen

2011-01-01

This aim of this paper is to describe possible ways of investing in equity; choosing the right stocks(among small-cap, large-cap, value, growth, and foreign) using fundamental analysis, defining their appropriate mix in the portfolios according to the desired return-risk profiles based on Markowitz?s modern portfolio theory, and using technical analysis to buy and sell them.

The firms’ use and customers’ perception of Facebook in the context of customer-based brand equity : A case study of professional team sport organizations

OpenAIRE

Brand, Söndra; Klein, Moritz Justus

2012-01-01

Purpose: The purpose of this thesis is to provide a holistic understanding of how Facebook is used by professional team sport organizations to strengthen customer based-brand equity and how these attempts are perceived by the customers with a focus on the derived benefits. Frame of reference: Customer-based brand equity is conceptualized, modified and employed to the realm of Facebook. Moreover, a communication model is modified in order to link marketing communications in a hypermedia enviro...

Can Profit Policy and Contract Incentives Improve Defense Contract Outcomes?

Science.gov (United States)

2009-02-01

required by investors. The weighted average cost of capital ( WACC ) is the standard financial statistic that weights the returns demanded by investors that...hold equity and investors that hold debt.6 Like FCFROIC, WACC is expressed as a percentage. Consequently, it is possible to compare these two...contractors include Lockheed, Raytheon, Northrop Grumman, and General Dynamics. 6 Mathematically, WACC = Debt/(Debt + Equity) × Debt Cost × (1-Tax Rate

Equity in Pharmaceutical Pricing and Reimbursement: Crossing the Income Divide in Asia Pacific.

Science.gov (United States)

Daems, Rutger; Maes, Edith; Glaetzer, Christoph

2013-05-01

The article takes a three-dimensional approach (triangulation) in defining international pricing policy for pharmaceuticals using cost-effectiveness analysis (CEA), willingness-to-pay (WTP) analysis, and ability-to-pay (ATP) analysis. It attempts to find a balance between the various economic methods of which some focus on effectiveness while others are geared toward incorporating equity in the equation. A critical review of the first two established economic methods and their ability to evaluate not only "efficacy" but also "fairness" in pricing decisions identifies a gap in the latter. Therefore, a third analytic method is presented that measures the ATP based on a country's score in the human development index of the United Nations Development Program for 120 countries. This approach allows practicing differential pricing among and within countries. To refine this equity-driven pricing concept, two additional parameters can be added to the model: the Oxford "Multidimensional Poverty Index" and the "Out-of-Pocket" or "Self Pay" health expenditure as reported by the World Bank. There is no hierarchy between the above three pricing methods. Because one method provides further insight into the other, however, it is recommended to start with CEA followed by WTP analysis. These types of analysis are closely linked in that the first provides the CE ratio for the compound investigated and the other sets the anticipated ceiling threshold of the payer's WTP (in a particular country). The ATP method provides a supplementary "equity" check and facilitates the process of equity-based differential pricing. A third method should be used in conjunction with the standard CEA and WTP analysis that measures the ATP with the human development index as yardstick to provide sustainable and equitable access to medicines. We recommend that ATP analysis becomes an additional practice in policy decision making and in defining international pricing strategies for pharmaceuticals

Private Equity and Industry Performance

DEFF Research Database (Denmark)

Bernstein, Shai; Lerner, Josh; Sørensen, Morten

2017-01-01

The growth of the private equity industry has spurred concerns about its impact on the economy. This analysis looks across nations and industries to assess the impact of private equity on industry performance. We find that industries where private equity funds invest grow more quickly in terms...... of total production and employment and appear less exposed to aggregate shocks. Our robustness tests provide some evidence that is consistent with our effects being driven by our preferred channel....

How can China reach its CO2 intensity reduction targets by 2020? A regional allocation based on equity and development

International Nuclear Information System (INIS)

Yi Wenjing; Zou Lele; Guo Jie; Wang Kai; Wei Yiming

2011-01-01

In late 2009, the Chinese government committed to cut its carbon dioxide emissions per unit of gross domestic product (GDP) by 40% to 45% of 2005 levels by 2020. This has raised the issue of how to allocate the CO 2 reduction target regionally to meet the national reduction target. To meet this objective, the following aspects may be taken into consideration: equity principles, 'common but differentiated responsibilities'; intensity reduction target fulfillment; and economic difference and reduction potential among provinces. This paper selects per capita GDP, accumulated fossil fuel related CO 2 emissions and energy consumption per unit of industrial added value as indicators for emission reduction capacity, responsibility and potential, respectively. Based on these three indicators, a comprehensive index is developed and an intensity allocation model constructed. As decision makers may have different preferences when allocating the reduction burden, we allocate different weights to the indicators, analyzing the results using cluster analysis. The following aspects may also be considered together with the national regional development strategy to determine how to share the burden: the reduction potential of various regions; implementation potential of the plans; and promotion of a highly efficient low carbon economic development model. - Research highlights: → We compiled a comprehensive index using per capita GDP, accumulated fossil fuel related CO 2 emissions and energy consumption per unit of industrial added value as indicators for emission reduction capacity, responsibility and potential, respectively. → National CO 2 intensity reduction target is allocated according to different index values of provinces. → Equity principles were taken into account when allocating the target.

Costs and expected gain in lifetime health from intensive care versus general ward care of 30,712 individual patients: a distribution-weighted cost-effectiveness analysis.

Science.gov (United States)

Lindemark, Frode; Haaland, Øystein A; Kvåle, Reidar; Flaatten, Hans; Norheim, Ole F; Johansson, Kjell A

2017-08-21

Clinicians, hospital managers, policy makers, and researchers are concerned about high costs, increased demand, and variation in priorities in the intensive care unit (ICU). The objectives of this modelling study are to describe the extra costs and expected health gains associated with admission to the ICU versus the general ward for 30,712 patients and the variation in cost-effectiveness estimates among subgroups and individuals, and to perform a distribution-weighted economic evaluation incorporating extra weighting to patients with high severity of disease. We used a decision-analytic model that estimates the incremental cost per quality-adjusted life year (QALY) gained (ICER) from ICU admission compared with general ward care using Norwegian registry data from 2008 to 2010. We assigned increasing weights to health gains for those with higher severity of disease, defined as less expected lifetime health if not admitted. The study has inherent uncertainty of findings because a randomized clinical trial comparing patients admitted or rejected to the ICU has never been performed. Uncertainty is explored in probabilistic sensitivity analysis. The mean cost-effectiveness of ICU admission versus ward care was €11,600/QALY, with 1.6 QALYs gained and an incremental cost of €18,700 per patient. The probability (p) of cost-effectiveness was 95% at a threshold of €22,000/QALY. The mean ICER for medical admissions was €10,700/QALY (p = 97%), €12,300/QALY (p = 93%) for admissions after acute surgery, and €14,700/QALY (p = 84%) after planned surgery. For individualized ICERs, there was a 50% probability that ICU admission was cost-effective for 85% of the patients at a threshold of €64,000/QALY, leaving 15% of the admissions not cost-effective. In the distributional evaluation, 8% of all patients had distribution-weighted ICERs (higher weights to gains for more severe conditions) above €64,000/QALY. High-severity admissions gained the most, and were more

Equity impact of population-level interventions and policies to reduce smoking in adults: a systematic review.

Science.gov (United States)

Brown, Tamara; Platt, Stephen; Amos, Amanda

2014-05-01

There is strong evidence about which tobacco control policies reduce smoking. However, their equity impact is uncertain. The aim was to assess the effectiveness of population-level interventions/policies to reduce socioeconomic inequalities in adult smoking. Systematic review of studies of population-level interventions/policies reporting smoking-related outcomes in adults of lower compared to higher socioeconomic status (SES). References were screened and independently checked. Studies were quality assessed. Results are presented in a narrative synthesis. Equity impact was assessed as: positive (reduced inequality), neutral (no difference by SES), negative (increased inequality), mixed (equity impact varied) or unclear. 117 studies of 130 interventions/policies were included: smokefree (44); price/tax (27); mass media campaigns (30); advertising controls (9); cessation support (9); settings-based interventions (7); multiple policies (4). The distribution of equity effects was: 33 positive, 36 neutral, 38 negative, 6 mixed, 17 unclear. Most neutral equity studies benefited all SES groups. Fourteen price/tax studies were equity positive. Voluntary, regional and partial smokefree policies were more likely to be equity negative than national, comprehensive smokefree policies. Mass media campaigns had inconsistent equity effects. Cigarette marketing controls were equity positive or neutral. Targeted national smoking cessation services can be equity positive by achieving higher reach among low SES, compensating for lower quit rates. Few studies have assessed the equity impact of tobacco control policy/interventions. Price/tax increases had the most consistent positive equity impact. More research is needed to strengthen the evidence-base for reducing smoking inequalities and to develop effective equity-orientated tobacco control strategies. Copyright © 2014. Published by Elsevier Ireland Ltd.

Evaluating Value Chain Development Programs: Assessing Effectiveness, Efficiency, and Equity Effects of Contract Choice

NARCIS (Netherlands)

Ruben, R.

2015-01-01

Provides insights regarding the possible procedures for assessing welfare, efficiency, and equity effects of value chain development (VCD) programs, taking advantage of available analytical tools derived from impact analysis, transaction cost theory, and contract choice approaches and briefly

Equity and efficiency in policies to reduce carbon emissions in the domestic sector

International Nuclear Information System (INIS)

Barker, T.; Johnstone, N.

1993-01-01

It is frequently asserted that the distribution effects of a carbon/energy tax - such as that proposed by the Commission of the European Communities - will be largely regressive: that the burden of the tax will fall disproportionately on lower income households. Such an assertion, although valid within the confines of the respective analyses, is based upon an unduly limited treatment of the fiscal implications of such a tax as well as a simplification of the demand for energy services in the domestic sector. It will be argued that such analyses, by implicitly assuming that efficiency objectives (reducing carbon emissions at lowest cost) and equity objectives (ensuring that lower-income households do not suffer welfare losses) are to be separately achieved, overstate the cost of reducing emissions in terms of both objectives. (Author)

A functional model for monitoring equity and effectiveness in purchasing health insurance premiums for the poor: evidence from Cambodia and the Lao PDR.

Science.gov (United States)

Annear, Peter Leslie; Bigdeli, Maryam; Jacobs, Bart

2011-10-01

To assess the impact on equity and effectiveness of introducing targeted subsidies for the poor into existing voluntary health insurance schemes in Low Income Countries with special reference to cross-subsidisation. A functional model was constructed using routine collected financial data to analyse changes in financial flows and resulting shifts in cross-subsidization between poor and non-poor. Data were collected from two sites, in Cambodia at Kampot operational health district and in the Lao People's Democratic Republic at Nambak district. Six key variables were identified as determining the financial flows between the subsidy and the insurance schemes and with health providers: population coverage, premium rate, facility contact rate, capitation rate, cost of treatment and changes in administration costs. Negative cross-subsidization was revealed where capitation was used as the payment mechanism and where utilisation rates of the poor were significantly below the non-poor. The same level of access for the poor could have been achieved with a lower Health Equity Fund subsidy if used as a direct reimbursement of user charges by the Health Equity Fund to the provider rather than through the Community Based Health Insurance scheme. Purchasing premiums for the poor under these conditions is more costly than direct reimbursement to the provider for the same level of service delivery. Negative cross-subsidization is a serious risk that must be managed appropriately and the benefits of a larger risk pool (cross-subsidization of the poor) are not evident. Benefits from combined coverage may accrue in the longer term with an expanded base of voluntary payers or when those with subsidized premiums are lifted out of poverty. Copyright © 2011 Elsevier Ireland Ltd. All rights reserved.

Value Effect in Indonesian Stock Returns: The Implications for the Equity Mutual Fund Industry

Directory of Open Access Journals (Sweden)

Samuel Kristianto Utomo

2015-04-01

Full Text Available We extend the persistence and pervasiveness of the presence of value effect to Indonesian stock returns in the last two decades by utilizing data set that is relatively free of survivor bias and selection bias. Our finding shows that value portfolios have been able to outperform growth portfolios. Furthermore, the presence of the effect as an asset pricing factor, along with the size effect, can significantly explain the returns of the aggregate equity mutual funds in Indonesia and unveil that the equity mutual fund industry does not provide sufficient risk-adjusted return to cover trading costs and fund expenses. Our proposition is that the equity mutual fund valuation will be better off to apply simpler model shown in this paper to capture the value premium as opposed to the general application of traditional valuation method.

Destination Brand Equity, Satisfaction And Revisit Intention: An Application In TRNC As a Tourism Destination

OpenAIRE

Sarvari, Neda Gholizadeh

2012-01-01

ABSTRACT: This study revisits the previous studies carried out by several researchers on Customer – Based Brand Equity with an intension to further investigate the applications and testing of the Customer-Based Brand Equity (CBBE) model in relation to destination branding. The study specifically examines the effects of Brand Equity Dimensions (Brand Awareness, Brand Loyalty, Brand Value, Brand Quality and Brand Image) on Tourists Satisfaction and ultimately on Future Behaviours that result i...

Process-based costing.

Science.gov (United States)

Lee, Robert H; Bott, Marjorie J; Forbes, Sarah; Redford, Linda; Swagerty, Daniel L; Taunton, Roma Lee

2003-01-01

Understanding how quality improvement affects costs is important. Unfortunately, low-cost, reliable ways of measuring direct costs are scarce. This article builds on the principles of process improvement to develop a costing strategy that meets both criteria. Process-based costing has 4 steps: developing a flowchart, estimating resource use, valuing resources, and calculating direct costs. To illustrate the technique, this article uses it to cost the care planning process in 3 long-term care facilities. We conclude that process-based costing is easy to implement; generates reliable, valid data; and allows nursing managers to assess the costs of new or modified processes.

Private Equity for Retail Investors : How to efficiently involve Finnish retail investors in private equity

OpenAIRE

Moita, Angelo

2017-01-01

Private equity has been the best performing asset class for institutional investors. Meanwhile, retail investors have been left out from the asset class for several reasons, such as legislation and wealth profiling. This study aims at assessing the types of private equity vehicles that could be the most appropriate for Finnish retail investors. The study solely focuses on the investment opportunities, hence it does not cover investment behaviour. Private equity should not be a primary as...

Framework for Evaluation of Equity Initiatives

Science.gov (United States)

Bexley, Emmaline; Harris, Kerri-Lee; James, Richard

2010-01-01

The Framework for Evaluation of Equity Initiatives has been prepared to support the Go8 Equity Strategy. Its purpose is to assist Group of Eight (Go8) universities to evaluate the effectiveness of their equity initiatives and interventions in the context of federal policies and the distinctive missions and responsibilities of the individual Go8…

A wavelet-based evaluation of time-varying long memory of equity markets: A paradigm in crisis

Science.gov (United States)

Tan, Pei P.; Chin, Cheong W.; Galagedera, Don U. A.

2014-09-01

This study, using wavelet-based method investigates the dynamics of long memory in the returns and volatility of equity markets. In the sample of five developed and five emerging markets we find that the daily return series from January 1988 to June 2013 may be considered as a mix of weak long memory and mean-reverting processes. In the case of volatility in the returns, there is evidence of long memory, which is stronger in emerging markets than in developed markets. We find that although the long memory parameter may vary during crisis periods (1997 Asian financial crisis, 2001 US recession and 2008 subprime crisis) the direction of change may not be consistent across all equity markets. The degree of return predictability is likely to diminish during crisis periods. Robustness of the results is checked with de-trended fluctuation analysis approach.

Food sovereignty, food security and health equity: a meta-narrative mapping exercise

Science.gov (United States)

Weiler, Anelyse M.; Hergesheimer, Chris; Brisbois, Ben; Wittman, Hannah; Yassi, Annalee; Spiegel, Jerry M.

2015-01-01

There has been growing policy interest in social justice issues related to both health and food. We sought to understand the state of knowledge on relationships between health equity—i.e. health inequalities that are socially produced—and food systems, where the concepts of ‘food security’ and ‘food sovereignty’ are prominent. We undertook exploratory scoping and mapping stages of a ‘meta-narrative synthesis’ on pathways from global food systems to health equity outcomes. The review was oriented by a conceptual framework delineating eight pathways to health (in)equity through the food system: 1—Multi-Scalar Environmental, Social Context; 2—Occupational Exposures; 3—Environmental Change; 4—Traditional Livelihoods, Cultural Continuity; 5—Intake of Contaminants; 6—Nutrition; 7—Social Determinants of Health and 8—Political, Economic and Regulatory context. The terms ‘food security’ and ‘food sovereignty’ were, respectively, paired with a series of health equity-related terms. Combinations of health equity and food security (1414 citations) greatly outnumbered pairings with food sovereignty (18 citations). Prominent crosscutting themes that were observed included climate change, biotechnology, gender, racialization, indigeneity, poverty, citizenship and HIV as well as institutional barriers to reducing health inequities in the food system. The literature indicates that food sovereignty-based approaches to health in specific contexts, such as advancing healthy school food systems, promoting soil fertility, gender equity and nutrition, and addressing structural racism, can complement the longer-term socio-political restructuring processes that health equity requires. Our conceptual model offers a useful starting point for identifying interventions with strong potential to promote health equity. A research agenda to explore project-based interventions in the food system along these pathways can support the identification of ways to

Sustainability : Intergeneration Equity and Environment

Energy Technology Data Exchange (ETDEWEB)

Kim, Y.D. [Korea Energy Economics Institute, Euiwang (Korea)

2001-06-01

Regarding intergenerational equity as prerequisite for sustainability, we derive an optimal investment rule for intergenerational equity from an optimization model allowing for capital accumulation and pollution. This rule provides a condition for intergenerational equity such that an economy maintains constant net value of investment the difference between the physical capital investment value and the environmental resource depletion(pollution) value. This rule is more generalized condition for intergenerational equity than the 'keep capital intact' rule suggested by Hartwick(1977) and Solow(1999), in a sense that this rule includes their condition as a special. Also, we expect this rule to offer an empirical measure of sustainability. In addition, we discuss a variety of recent environmental issues in practice, especially associated with the implications from the rule. (author). 13 refs.

[The virtual library in equity, health, and human development].

Science.gov (United States)

Valdés, América

2002-01-01

This article attempts to describe the rationale that has led to the development of information sources dealing with equity, health, and human development in countries of Latin America and the Caribbean within the context of the Virtual Health Library (Biblioteca Virtual en Salud, BVS). Such information sources include the scientific literature, databases in printed and electronic format, institutional directories and lists of specialists, lists of events and courses, distance education programs, specialty journals and bulletins, as well as other means of disseminating health information. The pages that follow deal with the development of a Virtual Library in Equity, Health, and Human Development, an effort rooted in the conviction that decision-making and policy geared toward achieving greater equity in health must, of necessity, be based on coherent, well-organized, and readily accessible first-rate scientific information. Information is useless unless it is converted into knowledge that benefits society. The Virtual Library in Equity, Health, and Human Development is a coordinated effort to develop a decentralized regional network of scientific information sources, with strict quality control, from which public officials can draw data and practical examples that can help them set health and development policies geared toward achieving greater equity for all.

Gender, equity, and job satisfaction.

Science.gov (United States)

1992-02-01

Although equity theory has served as a theoretical framework applying to most individuals in most situations, empirical research suggests that gender may affect the utility of equity theory in explaining organizational behaviors. Studies have indicat...

Trading Cost Management of Mutual Funds

NARCIS (Netherlands)

R. Xing (Rang)

2016-01-01

textabstractThis paper documents the trading behaviour of actively managed equity mutual funds from the perspective of their trading cost management. Consistent with the predictions in the literature of portfolio choice with trading costs, I present three main findings. Firstly, mutual funds trade

THE BORROWER CHARACTERISTICS IN HOT EQUITY MARKETS

Directory of Open Access Journals (Sweden)

HALIL DINCER KAYA

2017-06-01

Full Text Available In this study, I examine the characteristics of U.S. corporate borrowers (public debt, private placement, and syndicated loan firms in HOT versus COLD equity markets. My main objective is to see the characteristics of firms that choose debt financing even when the equity market is HOT. HOT equity markets are defined as the top twenty percent of the months in terms of the de-trended number of equity offerings. I find that the HOT equity market borrowers generally have higher market-to-book ratios compared to the COLD market borrowers. Also, in HOT equity markets, the public debt firms (i.e. the corporate bond issuers tend to have fewer tangible assets, the private placement firms tend to be smaller and highly levered, and the syndicated loan firms tend to be smaller, more profitable, and less levered compared to the COLD market firms. When I look at the number of transactions in each market, I find that when the equity market is active (i.e. HOT, the syndicated loan market is even more active. During these periods, the public debt market is also active (although not as much as the equity or the syndicated loan markets. When I look at the sizes of the transactions in each market, I find that the private placements tend to be significantly larger in HOT markets compared to COLD markets. I conclude that while the equity, the public debt, and the syndicated loan markets move together in terms of market activity, the equity market and the private placement markets move together in terms of the size of the transaction.

Venture Capital and Other Private Equity: A Survey

OpenAIRE

Andrew Metrick; Ayako Yasuda

2010-01-01

We review the theory and evidence on venture capital (VC) and other private equity: why professional private equity exists, what private equity managers do with their portfolio companies, what returns they earn, who earns more and why, what determines the design of contracts signed between (i) private equity managers and their portfolio companies and (ii) private equity managers and their investors (limited partners), and how/whether these contractual designs affect outcomes. Findings highlig...

Analysis of agency relationships in the design and implementation process of the equity fund in Madagascar.

Science.gov (United States)

Honda, Ayako

2015-02-04

There are large gaps in the literature relating to the implementation of user fee policy and fee exemption measures for the poor, particularly on how such schemes are implemented and why many have not produced expected outcomes. In October 2003, Madagascar instituted a user fee exemption policy which established "equity funds" at public health centres, and used medicine sales revenue to subsidise the cost of medicine for the poor. This study examines the policy design and implementation process of the equity fund in Madagascar in an attempt to explore factors influencing the poor equity outcomes of the scheme. This study applied an agency-incentive framework to investigate the equity fund policy design and implementation practices. It analysed agency relationships established during implementation; examined incentive structures given to the agency relationships in the policy design; and considered how incentive structures were shaped and how agents responded in practice. The study employed a case-study approach with in-depth analysis of three equity fund cases in Madagascar's Boeny region. Policy design problems, triggering implementation problems, caused poor equity performance. These problems were compounded by the re-direction of policy objectives by health administrators and strong involvement of the administrators in the implementation of policy. The source of the policy design and implementation failure was identified as a set of principal-agent problems concerning: monitoring mechanisms; facility-based fund management; and the nature and level of community participation. These factors all contributed to the financial performance of the fund receiving greater attention than its ability to financially protect the poor. The ability of exemption policies to protect the poor from user fees can be found in the details of the policy design and implementation; and implications of the policy design and implementation in a specific context determine whether a policy

Product innovation as a key success factor to build sustainable brand equity

Directory of Open Access Journals (Sweden)

Jalal Hanaysha

2015-06-01

Full Text Available In highly competitive markets, building brand equity has become one of the first priorities for many organizations as it brings several benefits and reputation for them. Past researches have acknowledged that consumers look for brands which provide them with differential values through innovative product and service features. However, despite the importance of product innovation in determining an organization’s success, very limited studies have intended to examine its effect on brand equity. In the present study, we aim to examine the effect of product innovation on brand equity in Malaysian automotive market. The data were collected from 287 passenger cars owners through self-administered questionnaire at several shopping malls in northern Malaysia. The findings revealed that product innovation had significant positive effect on overall brand equity and its dimensions namely; brand awareness, brand loyalty, brand image, and brand leadership. Based on the results of this study, several implications are discussed to enlighten our knowledge on important innovation activities that could develop favorable brand equity. Finally, limitations and future research suggestions are highlighted to gain better insights on brand equity development.

History of Pay Equity Studies.

Science.gov (United States)

Barbezat, Debra A.

2002-01-01

Traces the evolution of salary-equity studies over time, and how the findings have changed with regard to pay differences by gender and race/ethnicity. Reviews the literature on salary equity for both faculty and nonfaculty academic employees. (EV)

History matters: childhood weight trajectories as a basis for planning community-based obesity prevention to adolescents.

Science.gov (United States)

Ekberg, J; Angbratt, M; Valter, L; Nordvall, M; Timpka, T

2012-04-01

To use epidemiological data and a standardized economic model to compare projected costs for obesity prevention in late adolescence accrued using a cross-sectional weight classification for selecting adolescents at age 15 years compared with a longitudinal classification. All children born in a Swedish county (population 440 000) in 1991 who participated in all regular measurements of height and weight at ages 5, 10 and 15 years (n=4312) were included in the study. The selection strategies were compared by calculating the projected financial load resulting from supply of obesity prevention services from providers at all levels in the health care system. The difference in marginal cost per 1000 children was used as the primary end point for the analyses. Using the cross-sectional selection strategy, 3.8% of adolescents at age 15 years were selected for evaluation by a pediatric specialist, and 96.2% were chosen for population-based interventions. In the trajectory-based strategy, 2.4% of the adolescents were selected for intensive pediatric care, 1.4% for individual clinical interventions in primary health care, 14.0% for individual primary obesity prevention using the Internet and 82.1% for population-based interventions. Costs for the cross-sectional selection strategy were projected to USD463 581 per 1000 adolescents and for the trajectory-based strategy were USD 302 016 per 1000 adolescents. Using projections from epidemiological data, we found that by basing the selection of adolescents for obesity prevention on weight trajectories, the load on highly specialized pediatric care can be reduced by one-third and total health service costs for obesity management among adolescents reduced by one-third. Before use in policies and prevention program planning, our findings warrant confirmation in prospective cost-benefit studies.

Equity Portfolio Management Using Option Price Information

DEFF Research Database (Denmark)

Christoffersen, Peter; Pan, Xuhui (Nick)

We survey the recent academic literature that uses option-implied information to construct equity portfolios. Studies show that equity managers can earn a positive alpha by using information in individual equity options, by using stocks' exposure to information in market index options, and by usi...

Wedging Equity and Environmental Justice into the Discourse on Sustainability

Directory of Open Access Journals (Sweden)

Oscar H. Gandy, Jr.

2013-05-01

Full Text Available This paper examines the problems and prospects for including meaningful indicators of intragenrational equity into the city based regional planning efforts unfolding around the globe. The central focus of the paper is on the challenges that environmental justice (EJ activists face as they attempt to frame the problem of equity in ways that the general public would see as not only informative, but compelling. After reviewing examples of successful efforts to reframe debates about equity, the paper concludes with a discussion of a set of EJ concerns and indicators that have the greatest potential for capturing public attention and commitment despite mounting resistance to the use of redistributive policies in support of sustainability goals.

PERBANDINGAN BRAND EQUITY PRODUK SHAMPOO MEREK SUNSILK DENGAN MEREK PANTENE

Directory of Open Access Journals (Sweden)

Ida Ayu Raras Aristyani

2013-01-01

Full Text Available The objectives of the study were to know the difference in brand equity and its elements between shampoo products with brand Sunsilk and Pantene. The data analysis technique used was the mean difference test with paired samples. Based on the results of the study, it was found that there is no difference between brand equity Sunsilk with Pantene. the four dimensions of brand equity, just a different one, namely brand perceived quality. Therefore the next shampoo brand Sunsilk should be more focus on the improvement of the quality of its products by way of innovation in flavor, ingredients, and overall quality so as to always be in the top brand position together Pantene.

Gender equity and contraceptive use in China: an ecological analysis.

Science.gov (United States)

Xu, Yao; Bentley, Rebecca J; Kavanagh, Anne M

2011-11-30

Using data from China's population-based 2000 census, this ecological study examined the association between gender equity and women's contraceptive use in 30 provinces. Five province-level indicators of gender equity were used: sex ratio at birth, health, employment, education, and political participation. With the exception of sex ratio, all indices were comprised of several components. The indicators and components were grouped into tertiles. Generalized linear models were used to examine the associations between these indicators and contraceptive use. Provinces in the middle tertile of political participation had higher prevalence of contraceptive use than those in the lowest tertile (β = 0.27, 95% CI: 0.02-0.52, p gender equity and contraceptive use in China.

Is co-creation really a booster for brand equity? The role of co-creation in observer-based equity (OBBE)

NARCIS (Netherlands)

Kristal, Samuel; Baumgarth, Carsten; Behnke, Carolin; Henseler, Jörg

2016-01-01

Purpose This paper aims to analyse the general effect of co-created products on the brand equity of observers (OBBE). The influence of different implementations of the co-creation approach on the OBBE is tested. It is also discussed whether co-creation can be a strategic method for companies to

Certification and equity: Applying an “equity framework” to compare certification schemes across product sectors and scales

International Nuclear Information System (INIS)

McDermott, Constance L.

2013-01-01

Highlights: ► Assessing equity requires a comprehensive conceptual framework. ► The framing of equity varies across sectors and schemes. ► Schemes vary in prioritizing the environment, communities or equity in the supply chain. ► Addressing contextual equity is essential lest certification reinforce inequities of global trade. -- Abstract: This paper applies a comprehensive equity framework to compare the priorities and trade-offs of different environmental and social certification schemes. The schemes selected for comparison are the Forest Stewardship Council (FSC), the Programme for the Endorsement of Forest Certification Schemes (PEFC), the Fairtrade Labelling Organization (FLO), and the Climate, Community and Biodiversity Alliance (CCBA). The framework considers how the parameters of equity are set in certification scheme governance, including who are the primary decision-makers and intended beneficiaries, and how this is reflected in the content of scheme standards and certification outcomes. Each of these parameters is assessed across the dimensions of procedural, contextual and distributive equity. Results reveal significant variation in the prioritization of the environment, non-commercial stakeholders or equity across the supply chain. In forestry, the FSC has placed primary emphasis on the procedural rights of non-commercial interests in standard-setting processes, the contextual rights of indigenous peoples, and the conservation of natural ecosystems, while the PEFC places more emphasis on procedural equity for producers and the legitimacy of sovereign governments as rule-makers. Both FLO and CCBA prioritize distributive equity regarding the sharing of material benefits with small-scale and/or community producers or workers, while FLO also emphasizes the contextual issue of “empowerment” and capacity-building. In all schemes, contextual factors related to capacity and access have disproportionately advantaged Northern and large

A decision aid tool for equity issues analysis in emission permit allocations

International Nuclear Information System (INIS)

Vaillancourt, K.; Waaub, J.P.

2004-01-01

The general intention of global climate agreements is to stabilize greenhouse gases (GHG) concentrations in the atmosphere which contribute to climate change. Climate models indicate that the global average temperature will increase by about 1.4 to 5.8 degrees C by 2100 compared to the 1990 level. This study assumed the participation of all countries, including developing countries, to achieve a global GHG stabilization target. It examined international cooperation mechanisms such as permit trading to achieve global economic efficiency. The study proposed a decision aid tool that provides relevant information on various equitable permit allocation schemes. A dynamic multicriterion model was presented to share the global quantity of permits among 15 regions. Multiple definitions of equity were considered. A realistic simulation of the World-MARKAL energy model was conducted to demonstrate the potential application of the scheme in international negotiations. The goal was to propose a range of permit allocations for each country in order to restrict the number of possibilities and guide negotiations. A model of the global reduction scenario makes it possible to determine cost effective solutions and to calculate reduction costs. Equity issues related to permit allocations were also addressed along with permit allocations and net reduction costs for each region. 45 refs., 5 tabs., 2 figs., 1 appendix

Improving hospital cost accounting with activity-based costing.

Science.gov (United States)

Chan, Y C

1993-01-01

In this article, activity-based costing, an approach that has proved to be an improvement over the conventional costing system in product costing, is introduced. By combining activity-based costing with standard costing, health care administrators can better plan and control the costs of health services provided while ensuring that the organization's bottom line is healthy.

Levelised unit electricity cost comparison of alternate technologies for baseload generation in Ontario

Energy Technology Data Exchange (ETDEWEB)

Ayres, M.; McRae, M.; Stogran, M.

2004-08-15

This report provides a comparison of the lifetime cost of constructing, operating and decommissioning new generation suitable for supplying baseload power by early in the next decade. New baseload generation options in Ontario are nuclear, coal-fired steam turbines or combined cycle gas turbines (CCGT). Nuclear and coal-fired units are characterised by high capital costs and low operating costs. As such, they are candidates for baseload operation only. Gas-fired generation is characterised by lower capital costs and higher operating costs and thus may meet the requirements for operation as peaking and/or baseload generation. The comparison of baseload generating technologies is made by reference to the estimated levelised unit electricity cost (LUEC). The LUEC can be thought of as a 'supply cost', where the unit cost is the price needed to recover all costs over the period. It is determined by finding the price that sets the sum of all future discounted cash flows (net present value, or NPV) to zero. It can also be thought of as representing the constant real wholesale price of electricity that meets the financing cost, debt repayment, income tax and cash flow constraints associated with the construction operation and decommissioning of a generating plant. Levelised unit cost comparisons are usually made with different sets of financing assumptions. This report considers two base cases, which we describe as 'merchant' and 'public' financing. The term 'merchant plant' is used to refer to ones that are built and operated by private investors. These investors pay for their capital through debt and by raising equity, and thus pay return on equity and interest on debt throughout their lifetime. These projects include income taxes, both provincial and federal. Publicly financed projects typically are not subject to income taxes or to the same constraints on raising finance through issuing debt and equity. However, they are

Tax Efficiency vs. Tax Equity – Points of View regarding Tax Optimum

Directory of Open Access Journals (Sweden)

Stela Aurelia Toader

2011-10-01

Full Text Available Objectives. Starting from the idea that tax equity requirements, administration costs and the tendency towards tax evasion determine the design of tax systems, it is important to identify a satisfactory efficiency/equity deal in order to build a tax system as close to optimum requirements as possible. Prior Work Previous studies proved that an optimum tax system is that through which it will be collected a level of tax revenues which will satisfy budgetary demands, while losing only a minimum ‘amount’ of welfare. In what degree the Romanian tax system meets these requirements? Approach We envisage analyzing the possibilities of improving Romanian tax system as to come nearest to optimum requirements. Results We can conclude fiscal system can uphold important improvements in what assuring tax equity is concerned, resulting in raising the degree of free conformation in the field of tax payment and, implicitly, the degree of tax efficiency. Implications Knowing to what extent it can be acted upon in the direction of finding that satisfactory efficiency/equity deal may allow oneself to identify the blueprint of a tax system in which the loss of welfare is kept down to minimum. Value For the Romanian institutions empowered to impose taxes, the knowledge of the possibilities of making the tax system more efficient can be important while aiming at reducing the level of evasion phenomenon.

Balancing efficiency, equity and feasibility of HIV treatment in South Africa

DEFF Research Database (Denmark)

Baltussen, Rob; Mikkelsen, Evelinn; Tromp, Noor

2013-01-01

, and multi-criteria decision analysis (MCDA) to construct an evidence-base on the feasibility, efficiency, and equity of programme options including trade-offs. The approach provides programmatic guidance on the choice of treatment strategies at various decisions levels based on a sound conceptual framework......, it is now facing major concerns regarding (i) efficiency: alternative treatment policies may save more lives for the same budget; (ii) equity: there are large inequalities in who receives treatment; (iii) feasibility: still only 52% of the eligible population receives treatment.Hence, decisions...

From denial to awareness: a conceptual model for obtaining equity in healthcare.

Science.gov (United States)

Höglund, Anna T; Carlsson, Marianne; Holmström, Inger K; Lännerström, Linda; Kaminsky, Elenor

2018-01-22

Although Swedish legislation prescribes equity in healthcare, studies have reported inequalities, both in face-to-face encounters and in telephone nursing. Research has suggested that telephone nursing has the capability to increase equity in healthcare, as it is open to all and not limited by long distances. However, this requires an increased awareness of equity in healthcare among telephone nurses. The aim of this study was to explore and describe perceptions of equity in healthcare among Swedish telephone nurses who had participated in an educational intervention on equity in health, including which of the power constructs gender, ethnicity and age they commented upon most frequently. Further, the aim was to develop a conceptual model for obtaining equity in healthcare, based on the results of the empirical investigation. A qualitative method was used. Free text comments from questionnaires filled out by 133 telephone nurses before and after an educational intervention on equity in health, as well as individual interviews with five participants, were analyzed qualitatively. The number of comments related to inequity based on gender, ethnicity or age in the free text comments was counted descriptively. Gender was the factor commented upon the least and ethnicity the most. Four concepts were found through the qualitative analysis: Denial, Defense, Openness, and Awareness. Some informants denied inequity in healthcare in general, and in telephone nursing in particular. Others acknowledged it, but argued that they had workplace routines that protected against it. There were also examples of an openness to the fact that inequity existed and a willingness to learn and prevent it, as well as an already high awareness of inequity in healthcare. A conceptual model was developed in which the four concepts were divided into two qualitatively different blocks, with Denial and Defense on one side of a continuum and Openness and Awareness on the other. In order to reach

12 CFR 5.36 - Other equity investments.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Other equity investments. 5.36 Section 5.36... PROCEDURES FOR CORPORATE ACTIVITIES Expansion of Activities § 5.36 Other equity investments. (a) Authority... types of equity investments pursuant to 12 U.S.C. 24(Seventh) and other statutes. These investments are...

Cost-effectiveness of bone densitometry among Caucasian women and men without a prior fracture according to age and body weight.

Science.gov (United States)

Schousboe, J T; Gourlay, M; Fink, H A; Taylor, B C; Orwoll, E S; Barrett-Connor, E; Melton, L J; Cummings, S R; Ensrud, K E

2013-01-01

We used a microsimulation model to estimate the threshold body weights at which screening bone densitometry is cost-effective. Among women aged 55-65 years and men aged 55-75 years without a prior fracture, body weight can be used to identify those for whom bone densitometry is cost-effective. Bone densitometry may be more cost-effective for those with lower body weight since the prevalence of osteoporosis is higher for those with low body weight. Our purpose was to estimate weight thresholds below which bone densitometry is cost-effective for women and men without a prior clinical fracture at ages 55, 60, 65, 75, and 80 years. We used a microsimulation model to estimate the costs and health benefits of bone densitometry and 5 years of fracture prevention therapy for those without prior fracture but with femoral neck osteoporosis (T-score ≤ -2.5) and a 10-year hip fracture risk of ≥3%. Threshold pre-test probabilities of low BMD warranting drug therapy at which bone densitometry is cost-effective were calculated. Corresponding body weight thresholds were estimated using data from the Study of Osteoporotic Fractures (SOF), the Osteoporotic Fractures in Men (MrOS) study, and the National Health and Nutrition Examination Survey (NHANES) for 2005-2006. Assuming a willingness to pay of $75,000 per quality adjusted life year (QALY) and drug cost of $500/year, body weight thresholds below which bone densitometry is cost-effective for those without a prior fracture were 74, 90, and 100 kg, respectively, for women aged 55, 65, and 80 years; and were 67, 101, and 108 kg, respectively, for men aged 55, 75, and 80 years. For women aged 55-65 years and men aged 55-75 years without a prior fracture, body weight can be used to select those for whom bone densitometry is cost-effective.

Improvement of Educational Equity & Teacher Training

Directory of Open Access Journals (Sweden)

María J. Rodríguez

2013-10-01

Full Text Available Educational improvement for equity and professional teacher development are crucial issues concerning the essential right all students have of a good education. Firstly the article proposes a contextual reflection on improvement, some considerations related to well known traditions in the field and particularly the social justice and its relationships and implication for educational politics, curriculum, teaching, teacher and community. Secondly, it claims for the coherence of teacher professional development to educational equity. Different analysis and proposals are outlined related to policies and tasks the public administration should undertake and some dimensions of teacher education are considered attending educational equity criteria. Professional learning communities are described and valued as a hypothetical framework in order to improve equity and teacher education relationships.

An equity- and sustainability-based policy response to global climate change

International Nuclear Information System (INIS)

Byrne, J.; Wang, Y.-D.; Kim, Jong-dall

1998-01-01

In the debate over policy options for the reduction of greenhouse gas emissions, two precautionary approaches, 'no regrets' and 'insurance' have been proposed. An alternative to these is put forward which adopts an equity and sustainability based approach. It will not be easy to meet the challenge which this approach demands. From wealthy countries it will require a strong commitment to a social policy at home and an economic policy abroad that aims at sharing the ability of humankind to meet the needs of the present without compromising the ability of future generations to meet their needs. In developing countries the necessary improvement in lives and livelihoods must be achieved without repeating the unsustainable environmental and social legacy of the industrial era. (UK)

Derivation of weighting factors for cost and radiological impact for use in comparison of waste management methods

International Nuclear Information System (INIS)

Allen, P.T.; Lee, T.R.

1991-01-01

Nuclear waste management decisions are complex, and must include considerations of cost and social factors in addition to dose limitation. Decision-aiding techniques, such as multi-attribute analysis, can assist in structuring the problem and can icorporate as many factors, or attributes, as required. However, the relative weights of such attributes need to be established. Methods were devised which could be compared with one another. These were questionnaire-based but, in order to examine the possible influence of the measurement procedures on the results, two of the methods were combined in an experimental design. The two direct methods for obtaining weights (the conventional rating scales and the direct rating task) showed good agreement and yielded different values for separate social groups, such as industrial employees and lay public. The main conclusion is that the elicitation of weighting factors from the public is possible and that the resulting weights are meaningful and could have significant effects on the choice of waste management options

An empirical survey on perceived value from tourism destination based on brand equity model: A case study of Qeshm Island

Directory of Open Access Journals (Sweden)

Vahid Qaemi

2012-10-01

Full Text Available Tourism destination brand equity is defined as all assets (or debts of brands provided with name and symbol of tourism destination to make changes in value services of experiences. In many cases, brand equity is more than physical assets. This survey performs an investigation to identify effective factors in tourism destination equity, cause and affects relationships, and proposes a model for perceived value of tourism destination. The proposed study is performed in one of free islands named Gheshm. The preliminary results indicate that there is a positive relationship between tourism destination brand awareness and destination brand equity, tourism destination brand image, destination brand equity and tourism destination brand loyalty.

Alleviating inequality in climate policy costs: an integrated perspective on mitigation, damage and adaptation

Science.gov (United States)

De Cian, E.; Hof, A. F.; Marangoni, G.; Tavoni, M.; van Vuuren, D. P.

2016-07-01

Equity considerations play an important role in international climate negotiations. While policy analysis has often focused on equity as it relates to mitigation costs, there are large regional differences in adaptation costs and the level of residual damage. This paper illustrates the relevance of including adaptation and residual damage in equity considerations by determining how the allocation of emission allowances would change to counteract regional differences in total climate costs, defined as the costs of mitigation, adaptation, and residual damage. We compare emission levels resulting from a global carbon tax with two allocations of emission allowances under a global cap-and-trade system: one equating mitigation costs and one equating total climate costs as share of GDP. To account for uncertainties in both mitigation and adaptation, we use a model-comparison approach employing two alternative modeling frameworks with different damage, adaptation cost, and mitigation cost estimates, and look at two different climate goals. Despite the identified model uncertainties, we derive unambiguous results on the change in emission allowance allocation that could lessen the unequal distribution of adaptation costs and residual damages through the financial transfers associated with emission trading.

A step too far? Making health equity interventions in Namibia more sufficient

Directory of Open Access Journals (Sweden)

Ithindi Taati

2003-04-01

Full Text Available Abstract Background Equality of health status is the health equity goal being pursued in developed countries and advocated by development agencies such as WHO and The Rockefeller Foundation for developing countries also. Other concepts of fair distribution of health such as equity of access to medical care may not be sufficient to equalise health outcomes but, nevertheless, they may be more practical and effective in advancing health equity in developing countries. Methods A framework for relating health equity goals to development strategies allowing progressive redistribution of primary health care resources towards the more deprived communities is formulated. The framework is applied to the development of primary health care in post-independence Namibia. Results In Namibia health equity has been advanced through the progressive application of health equity goals of equal distribution of primary care resources per head, equality of access for equal met need and equality of utilisation for equal need. For practical and efficiency reasons it is unlikely that health equity would have been advanced further or more effectively by attempting to implement the goal of equality of health status. Conclusion The goal of equality of health status may not be appropriate in many developing country situations. A stepwise approach based on progressive redistribution of medical services and resources may be more appropriate. This conclusion challenges the views of health economists who emphasise the need to select a single health equality goal and of development agencies which stress that equality of health status is the most important dimension of health equity.

THE REGULATION OF METHODICAL IMPLEMENTATION BY EQUITY ACCOUNTING ON ENTERPRISES WITH FOREIGN INVESTMENT

Directory of Open Access Journals (Sweden)

Iurii Iakymov

2016-11-01

Full Text Available Purpose is to specify on the accounting methodic of transactions with equity and based on it’s ways of their effektive and resultative improvement in the enterprises with foreign investments. Methodology: In the context of such a scientific research the economic substance and methodical support of the equity accounting in enterprises with foreign investment comparison methods were used: research, synthesis, system approach, mathematical methods, formalization, induction, deduction and other methods. The scientific article is compiled on the basis of research results the main provisions of the legal regulation of these processes, the analysis of the literature of scientists and experts, that investigate this perspective, and other official sources from the Internet. Results. This article is devoted to the economic essence and peculiarities of the accounting equity in the context of accounts, the methodology for formation of equity, recognition procedures and the equity in enterprises with foreign investment. Also, the methodical approach of equity accounting in enterprises with foreign investment was analyzed by the author. As a result of research and detailed testing of transactions with equity for enterprises with foreign investments formed the results and recommendations: - specification of accounting method the transactions of equity based on the scientific research of it’s economic nature and characteristics of accounts, capital formation techniques, procedures, recognition and measurement of equity on the basis of comparative characteristics the international experience; - in order to display the mapping technique in the accounts of transactions with equity, is considered the procedure of object accounting in the program 1C and SAP, which based on a comparison of it’s benchmarks; - proposed the model of comparative accounting automation through the use of accounting software 1C and SAP, confirmed the need for a gradual transition to

Filmless versus film-based systems in radiographic examination costs: an activity-based costing method

Directory of Open Access Journals (Sweden)

Sase Yuji

2011-09-01

Full Text Available Abstract Background Since the shift from a radiographic film-based system to that of a filmless system, the change in radiographic examination costs and costs structure have been undetermined. The activity-based costing (ABC method measures the cost and performance of activities, resources, and cost objects. The purpose of this study is to identify the cost structure of a radiographic examination comparing a filmless system to that of a film-based system using the ABC method. Methods We calculated the costs of radiographic examinations for both a filmless and a film-based system, and assessed the costs or cost components by simulating radiographic examinations in a health clinic. The cost objects of the radiographic examinations included lumbar (six views, knee (three views, wrist (two views, and other. Indirect costs were allocated to cost objects using the ABC method. Results The costs of a radiographic examination using a filmless system are as follows: lumbar 2,085 yen; knee 1,599 yen; wrist 1,165 yen; and other 1,641 yen. The costs for a film-based system are: lumbar 3,407 yen; knee 2,257 yen; wrist 1,602 yen; and other 2,521 yen. The primary activities were "calling patient," "explanation of scan," "take photographs," and "aftercare" for both filmless and film-based systems. The cost of these activities cost represented 36.0% of the total cost for a filmless system and 23.6% of a film-based system. Conclusions The costs of radiographic examinations using a filmless system and a film-based system were calculated using the ABC method. Our results provide clear evidence that the filmless system is more effective than the film-based system in providing greater value services directly to patients.

Filmless versus film-based systems in radiographic examination costs: an activity-based costing method.

Science.gov (United States)

Muto, Hiroshi; Tani, Yuji; Suzuki, Shigemasa; Yokooka, Yuki; Abe, Tamotsu; Sase, Yuji; Terashita, Takayoshi; Ogasawara, Katsuhiko

2011-09-30

Since the shift from a radiographic film-based system to that of a filmless system, the change in radiographic examination costs and costs structure have been undetermined. The activity-based costing (ABC) method measures the cost and performance of activities, resources, and cost objects. The purpose of this study is to identify the cost structure of a radiographic examination comparing a filmless system to that of a film-based system using the ABC method. We calculated the costs of radiographic examinations for both a filmless and a film-based system, and assessed the costs or cost components by simulating radiographic examinations in a health clinic. The cost objects of the radiographic examinations included lumbar (six views), knee (three views), wrist (two views), and other. Indirect costs were allocated to cost objects using the ABC method. The costs of a radiographic examination using a filmless system are as follows: lumbar 2,085 yen; knee 1,599 yen; wrist 1,165 yen; and other 1,641 yen. The costs for a film-based system are: lumbar 3,407 yen; knee 2,257 yen; wrist 1,602 yen; and other 2,521 yen. The primary activities were "calling patient," "explanation of scan," "take photographs," and "aftercare" for both filmless and film-based systems. The cost of these activities cost represented 36.0% of the total cost for a filmless system and 23.6% of a film-based system. The costs of radiographic examinations using a filmless system and a film-based system were calculated using the ABC method. Our results provide clear evidence that the filmless system is more effective than the film-based system in providing greater value services directly to patients.

Incentives, equity and the Able Chooser Problem.

Science.gov (United States)

Grill, Kalle

2017-03-01

Health incentive schemes aim to produce healthier behaviours in target populations. They may do so both by making incentivised options more salient and by making them less costly. Changes in costs only result in healthier behaviour if the individual rationally assesses the cost change and acts accordingly. Not all people do this well. Those who fail to respond rationally to incentives will typically include those who are least able to make prudent choices more generally. This group will typically include the least advantaged more generally, since disadvantage inhibits one's effective ability to choose well and since poor choices tend to cause or aggravate disadvantage. Therefore, within the target population, health benefits to the better off may come at the cost of aggravated inequity. This is one instance of a problem I name the Able Chooser Problem, previously emphasised by Richard Arneson in relation to coercive paternalism. I describe and discuss this problem by distinguishing between policy options and their effects on the choice situation of individuals. Both positive and negative incentives, as well as mandates that are less than perfectly effective, require some sort of rational deliberation and action and so face the Able Chooser Problem. In contrast, effective restriction of what options are physically available, as well as choice context design that makes some options more salient or appealing, does not demand rational agency. These considerations provide an equity-based argument for preferring smart design of our choice and living environment to incentives and mandates. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/.

The Economic Impact of Weight Regain

Directory of Open Access Journals (Sweden)

Caroline E. Sheppard

2013-01-01

Full Text Available Background. Obesity is well known for being associated with significant economic repercussions. Bariatric surgery is the only evidence-based solution to this problem as well as a cost-effective method of addressing the concern. Numerous authors have calculated the cost effectiveness and cost savings of bariatric surgery; however, to date the economic impact of weight regain as a component of overall cost has not been addressed. Methods. The literature search was conducted to elucidate the direct costs of obesity and primary bariatric surgery, the rate of weight recidivism and surgical revision, and any costs therein. Results. The quoted cost of obesity in Canada was $2.0 billion–$6.7 billion in 2013 CAD. The median percentage of bariatric procedures that fail due to weight gain or insufficient weight loss is 20% (average: 21.1%±10.1%, range: 5.2–39, n=10. Revision of primary surgeries on average ranges from 2.5% to 18.4%, and depending on the procedure accounts for an additional cost between $14,000 and $50,000 USD per patient. Discussion. There was a significant deficit of the literature pertaining to the cost of revision surgery as compared with primary bariatric surgery. As such, the cycle of weight recidivism and bariatric revisions has not as of yet been introduced into any previous cost analysis of bariatric surgery.

La valutazione degli investimenti finanziati tramite equity crowdfunding

OpenAIRE

Zanetti, Laura

2015-01-01

Evoluzione e dimensione del crowdfunding, La valutazione e strutturazione dell’investimento tramite equity crowdfunding, Valutazioni implicite nelle raccolte fondi in equity crowdfunding, Peculiarità specifiche dell’equity crowdfunding, Un confronto con la bolla valutativa delle aziende internet degli anni 2000

Equity and nuclear waste disposal

International Nuclear Information System (INIS)

Shrader-Frechette, K.

1994-01-01

Following the recommendations of the US National Academy of Sciences and the mandates of the 1987 Nuclear Waste Policy Amendments Act, the US Department of Energy has proposed Yucca Mountain, Nevada as the site of the world's first permanent repository for high-level nuclear waste. The main justification for permanent disposal (as opposed to above-ground storage) is that it guarantees safety by means of waste isolation. This essay argues, however, that considerations of equity (safer for whom?) undercut the safety rationale. The article surveys some prima facie arguments for equity in the distribution of radwaste risks and then evaluates four objections that are based, respectively, on practicality, compensation for risks, scepticism about duties to future generations, and the uranium criterion. The conclusion is that, at least under existing regulations and policies, permanent waste disposal is highly questionable, in part, because it fails to distribute risk equitably or to compensate, in full, for this inequity

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

Science.gov (United States)

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

2018-07-01

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

Housing Equity Withdrawal : Perceptions of Obstacles among Older Australian Home Owners and associated Service Providers

NARCIS (Netherlands)

Jefferson, T; Austen, S; Ong, R; Haffner, M.E.A.; Wood, G.A.

2017-01-01

Housing wealth dominates the asset portfolios of the older population in Australia and many other countries. Given the anticipated spike in fiscal costs associated with population ageing, there is growing policy interest in housing equity withdrawal (HEW) to finance living needs in retirement.

Equity in climate-economy scenarios: the importance of subnational income distribution

International Nuclear Information System (INIS)

Baer, Paul

2009-01-01

It is widely accepted that climate change raises equity considerations, and this has been addressed in various explicit and implicit ways in scenario-based climate and climate-policy research. In this paper I look in particular at the IPCC's well-known 'Special Report on Emissions Scenarios', in which equity is primarily quantified as the distribution of income between countries, and highlight the need for more explicit treatment of equity both within and across national borders. I apply an existing method for modeling subnational income distributions and show that this affects the results of welfare calculations of the type used in economic analyses of climate policy. Additionally, I suggest ways in which this kind of equity analysis could be applied to questions that address broader considerations of climate policy and development, such as burden sharing in the allocation of obligations, and conclude with remarks that frame the scenario development process in the context of what I call 'the contested storyline of the present'.

New Internet search volume-based weighting method for integrating various environmental impacts

Energy Technology Data Exchange (ETDEWEB)

Ji, Changyoon, E-mail: changyoon@yonsei.ac.kr; Hong, Taehoon, E-mail: hong7@yonsei.ac.kr

2016-01-15

Weighting is one of the steps in life cycle impact assessment that integrates various characterized environmental impacts as a single index. Weighting factors should be based on the society's preferences. However, most previous studies consider only the opinion of some people. Thus, this research proposes a new weighting method that determines the weighting factors of environmental impact categories by considering public opinion on environmental impacts using the Internet search volumes for relevant terms. To validate the new weighting method, the weighting factors for six environmental impacts calculated by the new weighting method were compared with the existing weighting factors. The resulting Pearson's correlation coefficient between the new and existing weighting factors was from 0.8743 to 0.9889. It turned out that the new weighting method presents reasonable weighting factors. It also requires less time and lower cost compared to existing methods and likewise meets the main requirements of weighting methods such as simplicity, transparency, and reproducibility. The new weighting method is expected to be a good alternative for determining the weighting factor. - Highlight: • A new weighting method using Internet search volume is proposed in this research. • The new weighting method reflects the public opinion using Internet search volume. • The correlation coefficient between new and existing weighting factors is over 0.87. • The new weighting method can present the reasonable weighting factors. • The proposed method can be a good alternative for determining the weighting factors.

New Internet search volume-based weighting method for integrating various environmental impacts

International Nuclear Information System (INIS)

Ji, Changyoon; Hong, Taehoon

2016-01-01

Weighting is one of the steps in life cycle impact assessment that integrates various characterized environmental impacts as a single index. Weighting factors should be based on the society's preferences. However, most previous studies consider only the opinion of some people. Thus, this research proposes a new weighting method that determines the weighting factors of environmental impact categories by considering public opinion on environmental impacts using the Internet search volumes for relevant terms. To validate the new weighting method, the weighting factors for six environmental impacts calculated by the new weighting method were compared with the existing weighting factors. The resulting Pearson's correlation coefficient between the new and existing weighting factors was from 0.8743 to 0.9889. It turned out that the new weighting method presents reasonable weighting factors. It also requires less time and lower cost compared to existing methods and likewise meets the main requirements of weighting methods such as simplicity, transparency, and reproducibility. The new weighting method is expected to be a good alternative for determining the weighting factor. - Highlight: • A new weighting method using Internet search volume is proposed in this research. • The new weighting method reflects the public opinion using Internet search volume. • The correlation coefficient between new and existing weighting factors is over 0.87. • The new weighting method can present the reasonable weighting factors. • The proposed method can be a good alternative for determining the weighting factors.

The Factor Structure in Equity Options

DEFF Research Database (Denmark)

Christoffersen, Peter; Fournier, Mathieu; Jacobs, Kris

2018-01-01

Equity options display a strong factor structure. The first principal components of the equity volatility levels, skews, and term structures explain a substantial fraction of the crosssectional variation. Furthermore, these principal components are highly correlated with the S&P 500 index option...... volatility, skew, and term structure, respectively. We develop an equity option valuation model that captures this factor structure. The model predicts that firms with higher market betas have higher implied volatilities, steeper moneyness slopes, and a term structure that covaries more with the market...

[Public control and equity of access to hospitals under non-State public administration].

Science.gov (United States)

Carneiro Junior, Nivaldo; Elias, Paulo Eduardo

2006-10-01

To analyze social health organizations in the light of public control and the guarantee of equity of access to health services. Utilizing the case study technique, two social health organizations in the metropolitan region of São Paulo were selected. The analytical categories were equity of access and public control, and these were based on interviews with key informants and technical-administrative reports. It was observed that the overall funding and administrative control of the social health organizations are functions of the state administrator. The presence of a local administrator is important for ensuring equity of access. Public control is expressed through supervisory actions, by means of accounting and financial procedures. Equity of access and public control are not taken into consideration in the administration of these organizations. The central question lies in the capacity of the public authorities to have a presence in implementing this model at the local level, thereby ensuring equity of access and taking public control into consideration.

Do Firms Replenish Executives’ Incentives After Equity Sales?

NARCIS (Netherlands)

Ladika, T.

2013-01-01

After selling firm equity, executives' incentives to maximize shareholder value may decrease. How do boards respond? Theory shows boards can restore executives' incentives by shifting subsequent pay from cash toward equity. Unobservable firm-level changes that cause executives to sell equity and

Effects of independently altering body weight and body mass on the metabolic cost of running

NARCIS (Netherlands)

Teunissen, L.P.J.; Grabowski, A.; Kram, R.

2011-01-01

The metabolic cost of running is substantial, despite the savings from elastic energy storage and return. Previous studies suggest that generating vertical force to support body weight and horizontal forces to brake and propel body mass are the major determinants of the metabolic cost of running. In

Creating supportive nutrition environments for population health impact and health equity: an overview of the Nutrition and Obesity Policy Research and Evaluation Network's efforts.

Science.gov (United States)

Blanck, Heidi M; Kim, Sonia A

2012-09-01

Childhood obesity is a major threat to individual health and society overall. Policies that support healthier food and beverage choices have been endorsed by many decision makers. These policies may reach a large proportion of the population or in some circumstances aim to reduce nutrition disparities to ensure health equity. The Nutrition and Obesity Policy Research and Evaluation Network (NOPREN) evaluates policy as a tool to improve food and beverage environments where Americans live, work, play, and learn. The network aspires to address research and evaluation gaps related to relevant policies, create standardized research tools, and help build the evidence base of effective policy solutions for childhood obesity prevention with a focus on reach, equity, cost effectiveness, and sustainability. Published by Elsevier Inc.

The Entropic Linkage between Equity and Bond Market Dynamics

Directory of Open Access Journals (Sweden)

Edgar Parker

2017-06-01

Full Text Available An alternative derivation of the yield curve based on entropy or the loss of information as it is communicated through time is introduced. Given this focus on entropy growth in communication the Shannon entropy will be utilized. Additionally, Shannon entropy’s close relationship to the Kullback–Leibler divergence is used to provide a more precise understanding of this new yield curve. The derivation of the entropic yield curve is completed with the use of the Burnashev reliability function which serves as a weighting between the true and error distributions. The deep connections between the entropic yield curve and the popular Nelson–Siegel specification are also examined. Finally, this entropically derived yield curve is used to provide an estimate of the economy’s implied information processing ratio. This information theoretic ratio offers a new causal link between bond and equity markets, and is a valuable new tool for the modeling and prediction of stock market behavior.

Cost-benefit analysis for a lead wheel weight phase-out in Canada.

Science.gov (United States)

Campbell, P M; Corneau, E; Nishimura, D; Teng, E; Ekoualla, D

2018-05-06

Lead wheel weights (LWWs) have been banned in Europe, and some US States, but they continue to dominate the market in Canada. Exposure to lead is associated with numerous health impacts and can result in multiple and irreversible health problems which include cognitive impairment when exposure occurs during early development. Such impacts incur high individual and social costs. The purpose of this study was to assess the costs and public health benefits of a Risk Management Strategy (RMS) that would result from a LWW phase-out in Canada and compare this to a Business-As-Usual (BAU) scenario. The contribution of LWWs to lead concentrations in media including roadway soil/dust, ambient and indoor air, and indoor dust were estimated. The Integrated Exposure Uptake Biokinetic Model for Lead in Children (IEUBK) was used to develop estimates for the blood lead levels (BLLs) in children (μg/dL) associated with the BAU and the RMS. The BLLs estimated via the IEUBK model were then used to assess the IQ decrements associated with the BAU that would be avoided under the RMS. The subsequent overall societal benefits in terms of increased lifetime earning potential and reduced crime rate, were then estimated and compared to industry and government costs. LWWs form 72% of the Canadian wheel weight market and >1500 tonnes of lead as new LWWs attached to vehicles enters Canadian society annually. We estimate that 110-131 tonnes of lead in detached WWs are abraded on roadways in Canada each year. A LWW phase-out was predicted to result in a drop in pre-school BLLs of up to 0.4 μg/dL. The estimated net benefits associated with the RMS based on cognitive decrements avoided and hence increased lifetime earning potential (increased productivity) and reduced crime are expected to be: C$248 million (8% discount rate) to C$1.2 billion (3% discount rate) per year. Copyright © 2018 Elsevier B.V. All rights reserved.

Cost-effectiveness of a school-based health promotion program in Canada: A life-course modeling approach.

Science.gov (United States)

Ekwaru, John Paul; Ohinmaa, Arto; Tran, Bach Xuan; Setayeshgar, Solmaz; Johnson, Jeffrey A; Veugelers, Paul J

2017-01-01

The Alberta Project Promoting active Living and healthy Eating in Schools (APPLE Schools) has been recognized as a "best practice" in preventing childhood obesity. To inform decision making on the economic implications of APPLE Schools and to justify investment, we evaluated the project's cost-effectiveness following a life-course approach. We developed a state transition model for the lifetime progression of body weight status comparing elementary school students attending APPLE Schools and control schools. This model quantified the lifetime impact of APPLE Schools in terms of prevention of excess body weight, chronic disease and improved quality-adjusted life years (QALY), from a school system's cost perspective. Both costs and health outcomes were discounted to their present value using 3% discount rate. The incremental cost-effectiveness ratio(ICER) of APPLE schools was CA$33,421 per QALY gained, and CA$1,555, CA$1,709 and CA$14,218 per prevented person years of excess weight, obesity and chronic disease, respectively. These estimates show that APPLE Schools is cost effective at a threshold of ICER Schools was cost effective more than 64% of the time per QALY gained, when using a threshold of ICERSchool-based health promotion, such as APPLE Schools is a cost-effective intervention for obesity prevention and reduction of chronic disease risk over the lifetime. Expanding the coverage and allocating resources towards school-based programs like the APPLE Schools program, is likely to reduce the public health burden of obesity and chronic diseases.

Performance Evaluation of Equity Mutual Funds in Indonesia

Directory of Open Access Journals (Sweden)

Irene Rini Demi Pangestuti

2017-11-01

Full Text Available Mutual funds considered as an investment alternative for investors. One type of mutual fund that attracts many investors was the equity mutual funds. Equity mutual fund is a type of mutual funds that most part of the investment consists of stocks in the capital market so the risk rate was higher than the other types of mutual funds. For its different characteristic, the measurement for equity funds performance did not be same with other types of mutual funds. As a stock portfolio, equity mutual funds can be measured by portfolio measurement methods such as Sharpe Index, Treynor Ratio, Jensen Index, Adjusted Sharpe Index, Adjusted Jensen Index, and Sortino Ratio. This study was conducted by using all of those performance measurements as most research in Indonesia was conducted by using limited performance measurements (focusing on Sharpe Index, Treynor Ratio, and Jensen Index. This study aims to evaluated the performance of 42 equity mutual funds available in Indonesia by employing Sharpe Index, Treynor Ratio, Jensen Index, Adjusted Sharpe Index (ASI, Adjusted Jensen Index (AJI, and Sortino Ratio because most previous researches in Indonesian setting disregards ASI and AJI. In general, it was concluded that the SAM Indonesian Equity was the best performing equity fund during the study period. It was further found that most equity mutual fund studied have been well diversified.

Weight-based discrimination: an ubiquitary phenomenon?

Science.gov (United States)

Sikorski, C; Spahlholz, J; Hartlev, M; Riedel-Heller, S G

2016-02-01

Despite strong indications of a high prevalence of weight-related stigmatization in individuals with obesity, limited attention has been given to the role of weight discrimination in examining the stigma obesity. Studies, up to date, rely on a limited basis of data sets and additional studies are needed to confirm the findings of previous studies. In particular, data for Europe are lacking, and are needed in light of a recent ruling of the European Court of Justice that addressed weight-based discrimination. The data were derived from a large representative telephone survey in Germany (n=3003). The dependent variable, weight-based discrimination, was assessed with a one-item question. The lifetime prevalence of weight discrimination across different sociodemographic variables was determined. Logistic regression models were used to assess the association of independent and dependent variables. A sub-group analysis was conducted analyzing all participants with a body mass index ⩾25 kg m(-)(2). The overall prevalence of weight-based discrimination was 7.3%. Large differences, however, were observed regarding weight status. In normal weight and overweight participants the prevalence was 5.6%, but this number doubled in participants with obesity class I (10.2%), and quadrupled in participants with obesity class II (18.7%) and underweight (19.7%). In participants with obesity class III, every third participant reported accounts of weight-based discrimination (38%). In regression models, after adjustment, the associations of weight status and female gender (odds ratio: 2.59, PDiscrimination seems to be an ubiquitary phenomenon at least for some groups that are at special risk, such as heavier individuals and women. Our findings therefore emphasize the need for research and intervention on weight discrimination among adults with obesity, including anti-discrimination legislation.

Equity and Value in 'Precision Medicine'.

Science.gov (United States)

Gray, Muir; Lagerberg, Tyra; Dombrádi, Viktor

2017-04-01

Precision medicine carries huge potential in the treatment of many diseases, particularly those with high-penetrance monogenic underpinnings. However, precision medicine through genomic technologies also has ethical implications. We will define allocative, personal, and technical value ('triple value') in healthcare and how this relates to equity. Equity is here taken to be implicit in the concept of triple value in countries that have publicly funded healthcare systems. It will be argued that precision medicine risks concentrating resources to those that already experience greater access to healthcare and power in society, nationally as well as globally. Healthcare payers, clinicians, and patients must all be involved in optimising the potential of precision medicine, without reducing equity. Throughout, the discussion will refer to the NHS RightCare Programme, which is a national initiative aiming to improve value and equity in the context of NHS England.

Corporate Governance and Equity Returns

OpenAIRE

Uchida, Shigeru

2012-01-01

This paper analyses the relationship between corporate governance and equity returns from the small investors view point. A primary survey has been conducted to gather the data required to examine the link. Preliminary result of the study shows that the four elements of governance: board structure, transparency, fairness and responsibility are positively related with equity returns.

The Factor Structure in Equity Options

DEFF Research Database (Denmark)

Christoffersen, Peter; Fournier, Mathieu; Jacobs, Kris

Equity options display a strong factor structure. The first principal components of the equity volatility levels, skews, and term structures explain a substantial fraction of the cross-sectional variation. Furthermore, these principal components are highly correlated with the S&P500 index option...... volatility, skew, and term structure respectively. We develop an equity option valuation model that captures this factor structure. The model predicts that firms with higher market betas have higher implied volatilities, steeper moneyness slopes, and a term structure that co-varies more with the market...

Optimal dual-fuel propulsion for minimum inert weight or minimum fuel cost

Science.gov (United States)

Martin, J. A.

1973-01-01

An analytical investigation of single-stage vehicles with multiple propulsion phases has been conducted with the phasing optimized to minimize a general cost function. Some results are presented for linearized sizing relationships which indicate that single-stage-to-orbit, dual-fuel rocket vehicles can have lower inert weight than similar single-fuel rocket vehicles and that the advantage of dual-fuel vehicles can be increased if a dual-fuel engine is developed. The results also indicate that the optimum split can vary considerably with the choice of cost function to be minimized.

Equity Gauge Zambia : Enhancing Governance, Equity and Health ...

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

... identifying strategies for and indicators of equitable community participation; refining a ... Human resources for health in Zambia : equity and health system strengthening; some local perspectives (IDRC lunch hour discussion, Ottawa, 22 Mar. ... and adaptive water management: Innovative solutions from the Global South”.

Evaluation of activity-based costing versus resource-based relative value costing.

Science.gov (United States)

Berlin, Mark F; Smith, Tommy H

2004-01-01

Activity-based costing (ABC) and relative value units costing (RVU) are two approaches that a practice manager can use to determine the cost of physician services. Each costing approach has features that provide distinction as well as differentiation in the cost estimates that are estimated. This paper will provide cost estimates under each approach along with cost estimates under a hybrid approach that merges features from each costing approach known as the ABC-RVU costing technique. A comparison of the results will be provided.

股权众筹融资中的投资者风险及其防范%Investors'risk in Equity-based Crowdfunding and Prevention

Institute of Scientific and Technical Information of China (English)

伍蓓

2016-01-01

作为一种新兴的互联网金融模式，股权众筹拓宽了小微企业的融资渠道，有效化解了融资难的问题。但是和所有的新兴事物一样，股权众筹也存在着两面性。由于监管制度缺失、投资者风险意识不足等原因，股权众筹还存在着相当的风险。业界应从众筹及股权众筹的概念入手，分析股权众筹的基本模式及其特点，并从中归纳出存在的投资者风险，提出相应的风险防范建议。%As a new model of Internet financial,equity-based crowdfunding broaden the financing channels for small and micro businesses to resolve the financing problem effectively. But as with all new things, equity-based crowdfunding has two sides. It has a considerable risk due to the lack of supervision system, the lack of investors' risk awareness and so on. We should starts with the concept of crowdfunding and equity-based crowdfunding, then analyze the basic model of equity-based crowdfunding and its characteristics, and finally puts forward the corresponding suggestions to prevent the risks .

Addressing equity in interventions to reduce air pollution in urban areas: a systematic review.

Science.gov (United States)

Benmarhnia, Tarik; Rey, Lynda; Cartier, Yuri; Clary, Christelle M; Deguen, Séverine; Brousselle, Astrid

2014-12-01

We did a systematic review to assess quantitative studies investigating the association between interventions aiming to reduce air pollution, health benefits and equity effects. Three databases were searched for studies investigating the association between evaluated interventions aiming to reduce air pollution and heath-related benefits. We designed a two-stage selection process to judge how equity was assessed and we systematically determined if there was a heterogeneous effect of the intervention between subgroups or subareas. Of 145 identified articles, 54 were reviewed in-depth with eight satisfying the inclusion criteria. This systematic review showed that interventions aiming to reduce air pollution in urban areas have a positive impact on air quality and on mortality rates, but the documented effect on equity is less straightforward. Integration of equity in evidence-based public health is a great challenge nowadays. In this review we draw attention to the importance of considering equity in air pollution interventions. We also propose further methodological and theoretical challenges when assessing equity in interventions to reduce air pollution and we present opportunities to develop this research area.

A Model to Explain Customer Loyalty Based on Customer Equity and Customer Satisfaction: A study in mobile services industry in Bushehr

OpenAIRE

manigeh Bahrainizadeh; Leila Tavasoli

2014-01-01

Abstruct: The development of telecom companies in the world and the maturity of markets of such services, the management of customer loyalty has become a major concern in the company. This research is trying to provide a model for mobile service customer loyalty considering the customer equity, value equity, brand equity, relationships equity and customer satisfaction in order to create better services for mobile operators and to increase customer loyalty. In terms of goal the research is ...

Assessment of various failure theories for weight and cost optimized laminated composites using genetic algorithm

Energy Technology Data Exchange (ETDEWEB)

Goyal, T. [Indian Institute of Technology Kanpur. Dept. of Aerospace Engineering, UP (India); Gupta, R. [Infotech Enterprises Ltd., Hyderabad (India)

2012-07-01

In this work, minimum weight-cost design for laminated composites is presented. A genetic algorithm has been developed for the optimization process. Maximum-Stress, Tsai-Wu and Tsai-Hill failure criteria have been used along with buckling analysis parameter for the margin of safety calculations. The design variables include three materials; namely Carbon-Epoxy, Glass-Epoxy, Kevlar-Epoxy; number of plies; ply orientation angles, varying from -75 deg. to 90 deg. in the intervals of 15 deg. and ply thicknesses which depend on the material in use. The total cost is a sum of material cost and layup cost. Layup cost is a function of the ply angle. Validation studies for solution convergence and weight-cost inverse proportionality are carried out. One set of results for shear loading are also validated from literature for a particular case. A Pareto-Optimal solution set is demonstrated for biaxial loading conditions. It is then extended to applied moments. It is found that global optimum for a given loading condition is a function of the failure criteria for shear loading, with Maximum Stress criteria giving the lightest-cheapest and Tsai-Wu criteria giving the heaviest-costliest optimized laminates. Optimized weight results are plotted from the three criteria to do a comparative study. This work gives a global optimized laminated composite and also a set of other local optimum laminates for a given set of loading conditions. The current algorithm also provides with adequate data to supplement the use of different failure criteria for varying loadings. This work can find use in the industry and/or academia considering the increased use of laminated composites in modern wind blades. (Author)

Continuing nursing education policy in China and its impact on health equity.

Science.gov (United States)

Xiao, Lily Dongxia

2010-09-01

The aim of this study was to evaluate the mandatory continuing nursing education (MCNE) policy in China and to examine whether or not the policy addresses health equity. MCNE was instituted in 1996 in China to support healthcare reform was to include producing greater equity in health-care. However, the literature increasingly reports inequity in participation in MCNE, which is likely to have had a detrimental effect on the pre-existing discrepancies of education in the nursing workforce, and thereby failing to really address health equity. Despite a growing appeal for change, there is lack of critical reflection on the issues of MCNE policy. Critical ethnography underpinned by Habermas' Communicative Action Theory and Giddens' Structuration Theory were used to guide this study. Findings are presented in four themes: (i) inaccessibility of learning programs for nurses; (ii) undervaluation of workplace-based learning; (iii) inequality of the allocation of resources; and (iv) demands for additional support in MCNE from non-tertiary hospitals. The findings strongly suggest the need for an MCNE policy review based on rational consensus with stakeholders while reflecting the principles of health equity.

Promoting Islamic Private Equity Fund As An Ideal Financial Intermediary Institution

Directory of Open Access Journals (Sweden)

Nashr Akbar

2017-12-01

Full Text Available The existence of financial intermediation institution is quite necessary to support the economic activity. It serves both surplus unit and deficit unit to meet their wants whereby the former wants to invest his money in the lack of skill, while the latter wants to develop their businesses but does not have adequate capital. Bank institution is the most common institution serving the people’s need of financial intermediation. However, bank has several weaknesses that may harm and hamper the economic development. This paper aims to explore the weaknesses of banks as financial intermediary institutions and then promote Islamic Private Equity Fund as alternative. The result showed that the weaknesses of banks are: 1 fractional reserve banking, 2 fiat money, 3 debt-based investment, 4 risk averse. Furthermore, the study also found that Islamic Private Equity Fund can serve as an ideal financial intermediary institution due to some strengths: 1 no fractional reserve banking, 2 equity-based investment and 3 risk taker

—: A Multicategory Brand Equity Model and Its Application at Allstate

OpenAIRE

Venkatesh Shankar; Pablo Azar; Matthew Fuller

2008-01-01

We develop a robust model for estimating, tracking, and managing brand equity for multicategory brands based on customer survey and financial measures. This model has two components: (1) offering value (computed from discounted cash flow analysis) and (2) relative brand importance (computed from brand choice models such as multinomial logit, heteroscedastic extreme value, and mixed logit). We apply this model to estimate the brand equity of Allstate—a leading insurance company—and its leading...

Accurate measurement of imaging photoplethysmographic signals based camera using weighted average

Science.gov (United States)

Pang, Zongguang; Kong, Lingqin; Zhao, Yuejin; Sun, Huijuan; Dong, Liquan; Hui, Mei; Liu, Ming; Liu, Xiaohua; Liu, Lingling; Li, Xiaohui; Li, Rongji

2018-01-01

Imaging Photoplethysmography (IPPG) is an emerging technique for the extraction of vital signs of human being using video recordings. IPPG technology with its advantages like non-contact measurement, low cost and easy operation has become one research hot spot in the field of biomedicine. However, the noise disturbance caused by non-microarterial area cannot be removed because of the uneven distribution of micro-arterial, different signal strength of each region, which results in a low signal noise ratio of IPPG signals and low accuracy of heart rate. In this paper, we propose a method of improving the signal noise ratio of camera-based IPPG signals of each sub-region of the face using a weighted average. Firstly, we obtain the region of interest (ROI) of a subject's face based camera. Secondly, each region of interest is tracked and feature-based matched in each frame of the video. Each tracked region of face is divided into 60x60 pixel block. Thirdly, the weights of PPG signal of each sub-region are calculated, based on the signal-to-noise ratio of each sub-region. Finally, we combine the IPPG signal from all the tracked ROI using weighted average. Compared with the existing approaches, the result shows that the proposed method takes modest but significant effects on improvement of signal noise ratio of camera-based PPG estimated and accuracy of heart rate measurement.

Cooperate! A paradigm shift for health equity.

Science.gov (United States)

Chang, Wei-Ching; Fraser, Joy H

2017-02-21

The role of competition and cooperation in relation to the goal of health equity is examined in this paper. The authors explain why the win-lose mentality associated with avoidable competition is ethically questionable and less effective than cooperation in achieving positive outcomes, particularly as it relates to health and health equity. Competition, which differentiates winners from losers, often with the winner-takes-all reward system, inevitably leads to a few winners and many losers, resulting in social inequality, which, in turn, engenders and perpetuates health inequity.Competitive market-driven approaches to healthcare-brought about by capitalism, neo-liberalization, and globalization, based primarily on a competitive framework-are shown to have contributed to growing inequities with respect to the social determinants of health, and have undermined equal opportunity to access health care and achieve health equity. It is possible to redistribute income and wealth to reduce social inequality, but globalization poses increasing challenges to policy makers. John Stuart Mill provided a passionate, philosophical defense of cooperatives, followed by Karl Polanyi who offered an insightful critique of both state socialism and especially the self-regulating market, thereby opening up the cooperative way of shaping the future. We cite Hannah Arendt's "the banality of evil" to characterize the tragic concept of "ethical fading" witnessed in business and everyday life all over the world, often committed (without thinking and reflecting) by ordinary people under competitive pressures.To promote equity in health for all, we recommend the adoption of a radically new cooperation paradigm, applied whenever possible, to everything in our daily lives.

What does equity in health mean?

Science.gov (United States)

Mooney, G

1987-01-01

The author posits some ethical concerns and theories of distribution in order to gain some insight into the meaning of equity in health, as referred to in WHO documents. It is pointed out that the lack of clarity in the WHO positions is evidenced by examining 1) the European strategy document, which focuses on giving equal health to all and equity access to health care, and 2) the Global Strategy for Health, which talks about reducing inequality and health as a human right. The question raised in document 1 is whether more equal sharing of health might mean less health for the available quantity of resources. The question raised in document 2 is whether there is a right to health per se. The question is how does one measure health policy effects. Health effects are different for an 8-year-old girl and an octogenarian. How does one measure the fairness of access to health care in remote mountain villages versus an urban area? Is equal utilization which is more easily measured comparable to equal need as a measure? How does one distribute doctors equitably? The author espouses the determinant of health as Aday's illness and health promotion, which is not biased by class and controversy. The Aday definition embraces both demand and need, although his definition is still open to question. Concepts of health with distinction between need and demand are made. Theories of Veatch which relate to distributive justice and equity in health care are provided as entitlement theory (market forces determine allocation of resources), utilitarianism (greatest good for the greatest number regardless of redistribution issues), maximum theory (maximize the minimum position or giver priority to the least well off), and equality (fairness in distribution). Different organizational and financing structures will influence the approach to equity. The conclusion is that equity is a value laden concept which has no uniquely correct definition. 5 theories of equity in distribution of health

A fundamental tax reform in Norway : a comparison of the allowance for corporate equity system and the comprehensive business income tax system in a Norwegian setting

OpenAIRE

Riskjell, Ole Kristian

2014-01-01

This thesis seeks to answer what are the main distortions in the Norwegian tax system and to determine which of the ACE or CBIT systems that best could replace the current system. First, the thesis considers the current distortions in the Norwegian tax system. I find that the current tax system is distortive with regards to the tax-treatment of debt versus equity, as only cost of debt is deductible for tax purposes, while cost of equity is not. Moreover, the current system is d...

Equity Portfolio Management Using Option Price Information

DEFF Research Database (Denmark)

Christoffersen, Peter; Pan, Xuhui (Nick)

We survey the recent academic literature that uses option-implied information to construct equity portfolios. Studies show that equity managers can earn a positive alpha by using information in individual equity options, by using stocks' exposure to information in market index options, and by using...... stocks' exposure to crude oil option information. Option-implied information can also help construct better mean-variance portfolios and better estimates of market beta....

Brands and Brand Equity

OpenAIRE

Brunello Adrian

2011-01-01

Nowadays brands have become significant drivers for product purchasing and usage decisions. Thus, they constitute a substantial intangible asset for most companies. In order to gain customers and make them become loyal, firms have to establish the equity of the brand and present it in a clear and visible way to their target market. Therefore the topic of brand equity plays a major role in the creation and development of product and company brand strategy. The paper focuses on some general inf...

Product Placement and Brand Equity

OpenAIRE

Corniani, Margherita

2003-01-01

Product placement is the planned insertion of a brand within a movie, a fiction, etc. It can be used with other communication tools (i.e. advertising, sales promotions, etc.) in order to disseminate brand awareness and characterize brand image, developing brand equity. In global markets, product placement is particularly useful for improving brand equity of brands with a well established brand awareness.

Gender Equity and Mass Communication's Female Student Majority.

Science.gov (United States)

Golombisky, Kim

2002-01-01

Provides an overview of the history and politics of gender equity to make problematic the phrase "gender equity," to introduce the gender equity in education literature, and to outline some issues relevant to mass communication. Suggests that equal access represents a sex-blind approach dependent on a male standard. (SG)

The effect of simulating weight gain on the energy cost of walking in unimpaired children and children with cerebral palsy.

Science.gov (United States)

Plasschaert, Frank; Jones, Kim; Forward, Malcolm

2008-12-01

To examine the effect of simulating weight gain on the energy cost of walking in children with cerebral palsy (CP) compared with unimpaired children. Repeated measures, matched subjects, controlled. University hospital clinical gait and movement analysis laboratory. Children (n=42) with CP and unimpaired children (n=42). Addition of 10% of body mass in weight belt. Energy cost of walking parameters consisting of walking speed, Physiological Cost Index, Total Heart Beat Index, oxygen uptake (VO2), gross oxygen cost, nondimensional net oxygen cost, and net oxygen cost with speed normalized to height were measured by using a breath-by-breath gas analysis system (K4b2) and a light beam timing gate system arranged around a figure 8 track. Two walking trials were performed in random order, with and the other without wearing a weighted belt. Children with CP and their unimpaired counterparts responded in fundamentally different ways to weight gain. The unimpaired population maintained speed and VO2 but the children with CP trended toward a drop in their speed and an increase in their VO2. The oxygen consumption of children with CP showed a greater dependence on mass than the unimpaired group (P=.043). An increase of a relatively small percentage in body mass began to significantly impact the energy cost of walking in children with CP. This result highlights the need for weight control to sustain the level of functional walking in these children.

Analyzing Brand Equity On Purchase Intention Through Brand Preference Of Samsung Smartphone User In Manado

OpenAIRE

Emor, Angelina M.

2015-01-01

Consumers nowadays tend to value a product from its brand. Strong brand equity brings positive effect to the product. Thus, it is assumed that brand equity affects preference and purchase intention as well. Samsung has become popular in the Smartphone market these years. Currently, Samsung holds the place at the top of Android-based Smartphones globally. This research wants to study about the effect of brand equity on purchase intention through brand preference of Samsung Smartphone users in ...

Modelled health benefits of a sugar-sweetened beverage tax across different socioeconomic groups in Australia: A cost-effectiveness and equity analysis.

Science.gov (United States)

Lal, Anita; Mantilla-Herrera, Ana Maria; Veerman, Lennert; Backholer, Kathryn; Sacks, Gary; Moodie, Marjory; Siahpush, Mohammad; Carter, Rob; Peeters, Anna

2017-06-01

A sugar-sweetened beverage (SSB) tax in Mexico has been effective in reducing consumption of SSBs, with larger decreases for low-income households. The health and financial effects across socioeconomic groups are important considerations for policy-makers. From a societal perspective, we assessed the potential cost-effectiveness, health gains, and financial impacts by socioeconomic position (SEP) of a 20% SSB tax for Australia. Australia-specific price elasticities were used to predict decreases in SSB consumption for each Socio-Economic Indexes for Areas (SEIFA) quintile. Changes in body mass index (BMI) were based on SSB consumption, BMI from the Australian Health Survey 2011-12, and energy balance equations. Markov cohort models were used to estimate the health impact for the Australian population, taking into account obesity-related diseases. Health-adjusted life years (HALYs) gained, healthcare costs saved, and out-of-pocket costs were estimated for each SEIFA quintile. Loss of economic welfare was calculated as the amount of deadweight loss in excess of taxation revenue. A 20% SSB tax would lead to HALY gains of 175,300 (95% CI: 68,700; 277,800) and healthcare cost savings of AU$1,733 million (m) (95% CI: $650m; $2,744m) over the lifetime of the population, with 49.5% of the total health gains accruing to the 2 lowest quintiles. We estimated the increase in annual expenditure on SSBs to be AU$35.40/capita (0.54% of expenditure on food and non-alcoholic drinks) in the lowest SEIFA quintile, a difference of AU$3.80/capita (0.32%) compared to the highest quintile. Annual tax revenue was estimated at AU$642.9m (95% CI: $348.2m; $1,117.2m). The main limitations of this study, as with all simulation models, is that the results represent only the best estimate of a potential effect in the absence of stronger direct evidence. This study demonstrates that from a 20% tax on SSBs, the most HALYs gained and healthcare costs saved would accrue to the most disadvantaged

Modelled health benefits of a sugar-sweetened beverage tax across different socioeconomic groups in Australia: A cost-effectiveness and equity analysis

Science.gov (United States)

Mantilla-Herrera, Ana Maria; Veerman, Lennert; Backholer, Kathryn; Moodie, Marjory; Siahpush, Mohammad; Carter, Rob; Peeters, Anna

2017-01-01

Background A sugar-sweetened beverage (SSB) tax in Mexico has been effective in reducing consumption of SSBs, with larger decreases for low-income households. The health and financial effects across socioeconomic groups are important considerations for policy-makers. From a societal perspective, we assessed the potential cost-effectiveness, health gains, and financial impacts by socioeconomic position (SEP) of a 20% SSB tax for Australia. Methods and findings Australia-specific price elasticities were used to predict decreases in SSB consumption for each Socio-Economic Indexes for Areas (SEIFA) quintile. Changes in body mass index (BMI) were based on SSB consumption, BMI from the Australian Health Survey 2011–12, and energy balance equations. Markov cohort models were used to estimate the health impact for the Australian population, taking into account obesity-related diseases. Health-adjusted life years (HALYs) gained, healthcare costs saved, and out-of-pocket costs were estimated for each SEIFA quintile. Loss of economic welfare was calculated as the amount of deadweight loss in excess of taxation revenue. A 20% SSB tax would lead to HALY gains of 175,300 (95% CI: 68,700; 277,800) and healthcare cost savings of AU$1,733 million (m) (95% CI: $650m; $2,744m) over the lifetime of the population, with 49.5% of the total health gains accruing to the 2 lowest quintiles. We estimated the increase in annual expenditure on SSBs to be AU$35.40/capita (0.54% of expenditure on food and non-alcoholic drinks) in the lowest SEIFA quintile, a difference of AU$3.80/capita (0.32%) compared to the highest quintile. Annual tax revenue was estimated at AU$642.9m (95% CI: $348.2m; $1,117.2m). The main limitations of this study, as with all simulation models, is that the results represent only the best estimate of a potential effect in the absence of stronger direct evidence. Conclusions This study demonstrates that from a 20% tax on SSBs, the most HALYs gained and healthcare costs

A within-trial cost-effectiveness analysis of primary care referral to a commercial provider for weight loss treatment, relative to standard care—an international randomised controlled trial

Science.gov (United States)

Fuller, N R; Colagiuri, S; Schofield, D; Olson, A D; Shrestha, R; Holzapfel, C; Wolfenstetter, S B; Holle, R; Ahern, A L; Hauner, H; Jebb, S A; Caterson, I D

2013-01-01

Background: Due to the high prevalence of overweight and obesity there is a need to identify cost-effective approaches for weight loss in primary care and community settings. Objective: We evaluated the cost effectiveness of two weight loss programmes of 1-year duration, either standard care (SC) as defined by national guidelines, or a commercial provider (Weight Watchers) (CP). Design: This analysis was based on a randomised controlled trial of 772 adults (87% female; age 47.4±12.9 years; body mass index 31.4±2.6 kg m−2) recruited by health professionals in primary care in Australia, United Kingdom and Germany. Both a health sector and societal perspective were adopted to calculate the cost per kilogram of weight loss and the ICER, expressed as the cost per quality adjusted life year (QALY). Results: The cost per kilogram of weight loss was USD122, 90 and 180 for the CP in Australia, the United Kingdom and Germany, respectively. For SC the cost was USD138, 151 and 133, respectively. From a health-sector perspective, the ICER for the CP relative to SC was USD18 266, 12 100 and 40 933 for Australia, the United Kingdom and Germany, respectively. Corresponding societal ICER figures were USD31 663, 24 996 and 51 571. Conclusion: The CP was a cost-effective approach from a health funder and societal perspective. Despite participants in the CP group attending two to three times more meetings than the SC group, the CP was still cost effective even including these added patient travel costs. This study indicates that it is cost effective for general practitioners (GPs) to refer overweight and obese patients to a CP, which may be better value than expending public funds on GP visits to manage this problem. PMID:22929209

Executive Compensation and the Cost of Debt

NARCIS (Netherlands)

Kabir, Mohammed Rezaul; Li, Hao; Veld-Merkoulova, Yulia V.

2010-01-01

We examine how executive compensation affects the cost of debt financing. Analyzing CEO pay data from the UK, we find that debt-like and equity-like pay components have opposite effects on the cost of debt. An increase in defined benefit pensions is associated with lower bond yield spread, while an

Societal foundations for explaining fertility: Gender equity

Directory of Open Access Journals (Sweden)

Peter McDonald

2013-05-01

Full Text Available BACKGROUND Gender equity theory in relation to fertility argues that very low fertility is the result of incoherence in the levels of gender equity in individually-oriented social institutions and family-oriented social institutions. The salience of gender to the fertility transition is strong in theory but not as strong in specification of testable hypotheses as has been pointed out in the literature. OBJECTIVE The paper aims to clarify the specification of gender equity theory through a discussion of the difference between equity and equality and to suggest methods that might be applied to test the theory. METHODS The theory is restated and further developed using literature from different disciplines. The method is described using a decomposition of fertility for women by human capital levels. RESULTS The clarification of the theory includes a reminder that the theory relates to differences in fertility between countries and not to differences in fertility between women in the same country. In comparisons between countries, higher gender equity leads to higher fertility. In comparisons of fertility across women in the same country, higher gender equity does not necessarily imply higher fertility. In relation to measurement, a specification is suggested that effectively compares women across countries controlling for their level of human capital. Simple graphics are used to indicate ways in which fertility between countries may vary. CONCLUSIONS The paper concludes that it is likely the gender equity theory can be tested more readily by examining the behaviour across countries of women with higher levels of human capital.

Tackling obesity in areas of high social deprivation: clinical effectiveness and cost-effectiveness of a task-based weight management group programme - a randomised controlled trial and economic evaluation.

Science.gov (United States)

McRobbie, Hayden; Hajek, Peter; Peerbux, Sarrah; Kahan, Brennan C; Eldridge, Sandra; Trépel, Dominic; Parrott, Steve; Griffiths, Chris; Snuggs, Sarah; Myers Smith, Katie

2016-10-01

An increasing number of people require help to manage their weight. The NHS recommends weight loss advice by general practitioners and/or a referral to a practice nurse. Although this is helpful for some, more effective approaches that can be disseminated economically on a large scale are needed. To assess whether or not a task-based weight management programme [Weight Action Programme (WAP)] has better long-term effects than a 'best practice' intervention provided in primary care by practice nurses. Randomised controlled trial with cost-effectiveness analysis. General practices in east London, UK. Three hundred and thirty adults with a body mass index (BMI) of ≥ 30 kg/m 2 or a BMI of ≥ 28 kg/m 2 plus comorbidities were recruited from local general practices and via media publicity. Those who had a BMI of > 45 kg/m 2 , had lost > 5% of their body weight in the previous 6 months, were currently pregnant or taking psychiatric medications were excluded. Participants were randomised (2 : 1) to the WAP or nurse arms. The WAP intervention was delivered in eight weekly group sessions that combined dietary and physical activity, advice and self-monitoring in a group-oriented intervention. The initial course was followed by 10 monthly group maintenance sessions open to all participants in this study arm. The practice nurse intervention (best usual care) consisted of four one-to-one sessions delivered over 8 weeks, and included standard advice on diet and physical activity based on NHS 'Change4Life' materials and motivational support. The primary outcome measure was weight change at 12 months. Secondary outcome measures included change in BMI, waist circumference and blood pressure, and proportion of participants losing at least 5% and 10% of baseline body weight. Staff collecting measurements at the 6- and 12-month follow-ups were blinded to treatment allocation. The primary outcome measure was analysed according to the intention-to-treat principle

Pay Equity Act, 17 May 1988.

Science.gov (United States)

1988-01-01

This document contains major provisions of the 1988 Pay Equity Act of Prince Edward Island, Canada. (Nova Scotia enacted similar legislation in 1988.) This act defines "female-dominated class" or "male-dominated class" as a class with 60% or more female or male incumbents, respectively. The objective of this act is to achieve pay equity among public sector employers and employees by identifying systemic gender discrimination through a comparison of the relative wages and value of the work performed by female- and male-dominated classes. The value of work is to be determined by considering the skill, effort, and responsibility required by the work as well as the conditions under which it is performed. A difference in wages between a female- and male-dominated class performing work of equal or comparable value can be justified by a formal performance appraisal system or formal seniority system that does not discriminate on the basis of gender or by a skills shortage which requires a temporary inflation in wages to attract workers for a certain position. No wages shall be reduced to implement pay equity. Implementation of pay equity will include the work of bargaining agents to achieve agreement on salient points. Pay equity may be implemented in four stages over a period of 24 months.

A microeconomic perspective on the role of efficiency and equity criteria in designing natural resource policy

Directory of Open Access Journals (Sweden)

Geoff Kaine

2017-03-01

Full Text Available Deliberating on policy design to manage natural resources with clarity and precision is a difficult task, even for professional and highly experienced policy practitioners. These difficulties are exacerbated by confounding the crafting of policy instruments to change resource use (a behavioral matter related to resource management with the consequential issue of who bears the cost of changing resource use (an equity matter. The confounding of behavioral and equity issues is not surprising because equity is commonly suggested as a criterion in the literature on policy instrument choice, and inequity in access to resources may also be one of the initial drivers of policy intervention. Here, we restate the microeconomic analysis of "open access" resources and highlight the fundamental difference between efficiency (including allocative inefficiency and equity that emerges from that analysis. We then discuss the implications of this difference for the choice of policy instruments to resolve problems in natural resource management, at least for instruments that entail changing the behavior of primary producers. This discussion is centered on three key decisions for formulating policy: (1 choosing the preferred portfolio of uses for a natural resource, (2 choosing a policy instrument to change that portfolio, and (3 choosing a mechanism to distribute the costs of change fairly. To illustrate how these decisions may play out in a real-world example, we apply the decisions to a freshwater policy process in New Zealand. By articulating the distinction, microeconomics draws distinctions between efficiency and equity as policy objectives. Linking that distinction with the Tinbergen's principle regarding the matching of instruments to objectives, we aim to reduce the conflation of the decision-making criteria employed in policy formulation decisions. In doing so, we hope to assist policy makers to avoid policy failure by reducing the potential for the

Introduction--Knowledge translation and urban health equity: advancing the agenda.

Science.gov (United States)

Murphy, Kelly; Fafard, Patrick; O'Campo, Patricia

2012-12-01

In 2011, an interdisciplinary symposium was organized in Toronto, Canada to investigate prevailing models of health policy change in the knowledge translation literature and to assess the applicability of these models for equity-focused urban health research. The papers resulting from the symposium have been published together, in the Journal of Urban Health, along with this introductory essay. This essay describes how the different papers grapple in different ways with how to understand and to bridge the gaps between urban health research and action. The breadth of perspectives reflected in the papers (e.g., social epidemiology, public health, political science, sociology, critical labor studies, and educational psychology) shed much light on core tensions in the relationship between KT and health equity. The first tension is whether the content of evidence or the context of decision making is the strong determinate of research impact in relation to health equity policy. The second tension is whether relationships between health equity researchers and decision makers are best viewed in terms of collaboration or of conflict. The third concerns the role that power plays in evidence-based policy making, when the issues at stake are not only empirical but also normative.

Equity in Irish health care financing: measurement issues.

Science.gov (United States)

Smith, Samantha

2010-04-01

This paper employs widely used analytic techniques for measuring equity in health care financing to update Irish results from previous analysis based on data from the late 1980s. Kakwani indices are calculated using household survey data from 1987/88 to 2004/05. Results indicate a marginally progressive financing system overall. However, interpretation of the results for the private sources of health financing is complicated. This problem is not unique to Ireland but it is argued that it may be relatively more important in the context of a complex health financing system, illustrated in this paper by the Irish system. Alternative options for improving the analysis of equity in health care financing are discussed.

ACCOUNTING, TAX AND FINANCIAL APPROACHES CONCERNING THE CONCEPT OF EQUITY

Directory of Open Access Journals (Sweden)

Mihaela TULVINSCHI

2016-12-01

Full Text Available Substantiating the concept of equity is an issue of interest to specialists in accounting, taxation and finance. The purpose of this article is to present three of the sensitive issues generated by the concept of equity. One aspect considered is the demarcation of financial liabilities from the equity instruments. The distinction between equity and debt instruments is necessary because it has consequences on financial reporting. A second part of the study focuses on the fiscal side, trying to find the answer to the question: Are there deferred taxes recognized in equity? Deferred tax liabilities will be presented at the end of the year in equity and not debt, because they are related to gains recorded directly in equity. The third part of the article discusses the financial importance of equity, focusing on subscription and attribution rights as financial instruments used when raising capital. By creating subscription rights it is desired to obtain immediate funds needed to finance the entity.

7 CFR 765.405 - Payment of costs associated with transfers.

Science.gov (United States)

2010-01-01

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

Methods of Bank Valuation in the Age of Globalization

Directory of Open Access Journals (Sweden)

Alexander Karminsky

2015-01-01

Full Text Available This paper reviews the theory ofvalue-based management at the commercial bank and the main valuation methods in the age of globalization. The paper identifies five main factors that significantly influence valuation models selection and building: funding, liquidity, risks, exogenous factors and the capital cushion. It is shown that valuation models can be classified depending on underlying cash flows. Particular attention is paid to models based on potentially available cash flows (Discounted cash flow-oriented approaches, DCF and models based on residual income flows (Residual income-oriented approaches. In addition, we consider an alternative approach based on comparison with same sector banks (based on multiples. For bank valuation equity discounted сash flow method is recommended (Equity DCF. Equity DCF values equity value of a bank directly by discounting cash flows to equity at the cost of equity (Capital Asset Pricing Model, CAPM, rather than at the weighted average cost of capital (WACC. For the purposes of operational management residual income-oriented approaches are recommended for use, because they are better aligned with the process of internal planning and forecasting in banks. For strategic management residual income-oriented methods most useful when expected cash flows are negative throughout the forecast period. Discounted сash flow-oriented approaches are preferable when expected cash flows have positive values and needs for models using is motivated by supporting the investment decisions. Proposed classification can be developed in interests of bank management tasks in the midterm in the age of globalization.

Students’ perceived risk and investment intention: the effect of brand equity

Directory of Open Access Journals (Sweden)

Washington Macías

2015-10-01

Full Text Available Emerging markets bring out the question of motivation to include of new investors in the market for financial securities often arises. The purpose of this study is to analyze how brands influence the investment intention of young potential investors. Specifically, the relationship between consumer based brand equity - according to Aaker’s multidimensional conceptualization - and investment intention, mediated by perceived risk, is analyzed. The study contributes to the literature in two ways: (1 based on the revision made, no study has analyzed Aaker’s brand equity construct in investment decisions; (2 studies linking brand aspects to investment decisions have not examined the mediating role of perceived risk. Through an experiment, where perceived risk and investment intention in a famous brand were measured as differences from fictitious brands, the following results were found: (1 the investment intention in a famous brand is higher than in a non-famous one, once controlled for risk and return; (2 the higher the brand equity, the lesser the perceived risk of investing in the famous brand, and the higher the investment intention; (3 the perceived quality of a brand’s products was the dimension by which the effect of brand equity is transmitted. Involvement with the investment task and cognitive ability, at an individual level, the relative size of comparable firms, and the risk and return of investment alternatives were introduced as control variables.

Effect of the equity multiplier indicator in companies according the sectors

Directory of Open Access Journals (Sweden)

Lenka Lízalová

2013-01-01

Full Text Available Managers carry out the demand of the owners to maximise the rentability of invested capital with regards to the taken risk. The tool that evaluates the suitability to indebt in order to reach a higher rentability is the equity multiplier indicator. An analysis of the multiplier was carried out on 10 years of data from 456 Czech companies. Based on the data from these companies the influence of two components of the multiplier, which characterise the influence of indebtedness on the return on equity, was analysed. These components are “financial leverage” and “interest burden”, these having an antagonistic effect. The low variability of the equity multiplier is apparent in the companies of the administrative and support service sector and it is also relatively low in the companies of the agriculture, forestry and fishing sector; on the contrary, in for example the professional, scientific and technical activities and the sector of water, sewage and waste there are companies with higher variability of the equity multiplier. The paper identifies companies (in view of their sector specialization inclining to a larger utility of debts to increase the return on equity. The largest equity is reached in companies of the construction sector; the lowest effect of the multiplier is to be found in companies of the agriculture sector. The resulting value of the multiplier is to a large extent determined by the financial leverage indicator, to a lower extent and at the same time negatively by the interest burden indicator.

ACTIVITY-BASED COSTING DAN SIMULATED ANNEALING UNTUK PENCARIAN RUTE PADA FLEXIBLE MANUFACTURING SYSTEMS

OpenAIRE

Gregorius Satia Budhi

2003-01-01

Flexible Manufacturing System (FMS) is a manufacturing system that is formed from several Numerical Controlled Machines combine with material handling system, so that different jobs can be worked by different machines sequences. FMS combine the high productivity and flexibility of Transfer Line and Job Shop manufacturing system. In this reasearch, Activity-Based Costing(ABC) approach was used as the weight to search the operation route in the proper machine, so that the total production cost ...

Organizational- and employee-level recruitment into a worksite-based weight loss study.

Science.gov (United States)

Linnan, Laura; Tate, Deborah F; Harrington, Cherise B; Brooks-Russell, Ashley; Finkelstein, Eric; Bangdiwala, Shrikant; Birken, Ben; Britt, Ashley

2012-04-01

Based on national estimates, the majority of working adults are overweight or obese. Overweight and obesity are associated with diminished health, productivity, and increased medical costs for employers. Worksite-based weight loss interventions are desirable from both employee and employer perspectives. To investigate organizational- and employee-level participation in a group-randomized controlled worksite-based weight loss trial. Using a set of inclusion criteria and pre-established procedures, we recruited worksites (and overweight/obese employees from enrolled worksites) from the North Carolina Community College System to participate in a weight loss study. Recruitment results at the worksite (organization) and employee levels are described, along with an assessment of representativeness. Eighty-one percent (48/59) of community colleges indicated initial interest in participating in the weight loss study, and of those, 17 colleges were enrolled. Few characteristics distinguished enrolled community colleges from unenrolled colleges in the overall system. Eligible employees (n = 1004) at participating colleges were enrolled in the weight loss study. On average, participants were aged 46.9 years (SD = 12.1 years), had a body mass index (BMI) of 33.6 kg/m(2) (SD = 7.9 kg/m(2)), 83.2% were White, 13.3% African American, 82.2% female, and 41.8% reported holding an advanced degree (master's or doctoral degree). Compared with the larger North Carolina Community College employee population, participants most often were women, but few other differences were observed. Employees with reduced computer access may have been less likely to participate, and limited data on unenrolled individuals or colleges were available. Community colleges are willing partners for weight loss intervention studies, and overweight/obese employees were receptive to joining a weight loss study offered in the workplace. The results from this study are useful for planning future worksite-based

Settlement-date Accounting for Equity Share Options - Conceptual Validity and Numerical Effects

DEFF Research Database (Denmark)

Møller, Peder Fredslund

-date accounting are fully conceptually valid. They represent measurements of one partner group's share of total equity with effect for another group's share of total equity and income: the shareholders' part. Partially, this equity and income sharing model is already the basis for existing accounting standards......This paper demonstrates that settlement-date accounting for equity share options can be seen as an accounting method which implements a shareholder focused residually rewarded partners' equity view. This equity view represents a simple, natural extension of the shareholder proprietary view....... It implicates an equity and income sharing model for accounting which is characterized by specification of both shareholders' and non-shareholders' parts of total equity and income. When using this equity and income sharing model, the remeasurements of equity share option obligations made by settlement...

Status of costing hospital nursing work within Australian casemix activity-based funding policy.

Science.gov (United States)

Heslop, Liza

2012-02-01

Australia has a long history of patient level costing initiated when casemix funding was implemented in several states in the early 1990s. Australia includes, to some extent, hospital payment based on nursing intensity adopted within casemix funding policy and the Diagnostic Related Group system. Costing of hospital nursing services in Australia has not changed significantly in the last few decades despite widespread introduction of casemix funding policy at the state level. Recent Commonwealth of Australia National Health Reform presents change to the management of the delivery of health care including health-care costing. There is agreement for all Australian jurisdictions to progress to casemix-based activity funding. Within this context, nurse costing infrastructure presents contemporary issues and challenges. An assessment is made of the progress of costing nursing services within casemix funding models in Australian hospitals. Valid and reliable Australian-refined nursing service weights might overcome present cost deficiencies and limitations. © 2012 Blackwell Publishing Asia Pty Ltd.

Value at risk, bank equity and credit risk

OpenAIRE

Broll, Udo; Wahl, Jack E.

2003-01-01

We study the implications of the value at risk concept for the bank's optimum amount of equity capital under credit risk. The market value of loans is risky and lognormally distributed. We show that the required equity capital depends upon managerial and market factors. Furthermore, the bank's equity and asset/liability management has to be addressed simultaneously by bank managers.

Cost Effectiveness of a Weight Management Program Implemented in the Worksite: Translation of Fuel Your Life.

Science.gov (United States)

Corso, Phaedra S; Ingels, Justin B; Padilla, Heather M; Zuercher, Heather; DeJoy, David M; Vandenberg, Robert J; Wilson, Mark G

2018-04-18

Conduct a cost-effectiveness analysis of the Fuel Your Life (FYL) program dissemination. Employees were recruited from three workplaces randomly assigned to one of the conditions: telephone coaching, small group coaching, and self-study. Costs were collected prospectively during the efficacy trial. The main outcome measures of interest were weight loss and quality-adjusted life years (QALYs). The phone condition was most costly ($601-$589/employee) and the self-study condition was least costly ($145-$143/employee). For weight loss, delivering FYL through the small group condition was no more effective, yet more expensive, than the self-study delivery. For QALYs, the group delivery of FYL was in an acceptable cost-effectiveness range ($22,400/QALY) relative to self-study (95% CI: $10,600/QALY - dominated). Prevention programs require adaptation at the local level and significantly affect the cost, effectiveness, and cost effectiveness of the program.This is an open access article distributed under the terms of the Creative Commons Attribution-Non Commercial-No Derivatives License 4.0 (CCBY-NC-ND), where it is permissible to download and share the work provided it is properly cited. The work cannot be changed in any way or used commercially without permission from the journal. http://creativecommons.org/licenses/by-nc-nd/4.0.

The Conceptualizing Analysis of Materialize to Dimension of Customer Relationship Management and Brand Equity

Science.gov (United States)

Kumar, R.; Barani, G.; Jagadeesan, S.

2012-10-01

This article reviews the various approaches to defining and Measuring Brand Equity. CRM strategy (Customer Relationship Management) is a business philosophy, stemming from relationship marketing that joins strategy and technology, with the aim of creating value for both customers and the company. In this paper we justify the interest of establishing a formal system to measure CRM performance. It analyses the diverse views regarding the set of attributes relevant for measurement of Brand equity. Existing measures of brand equity have been classified into three categories for the discussion in the paper. One set of measures are those focusing on outcome of Brand Equity at the product market level, the second category is that of measures related to customer mindset while the third set is based on measurement of financial parameters. The paper presents a comprehensive review of the work done by various researchers over the last few decades. It analyses the merits and limitations of the different types of measures. Based on the observations made by experts in related literature the authors suggest the scope for further research in the discipline.

AN ANALYSIS OF SPATIAL EQUITY CONCERNING INVESTMENTS IN HIGH-SPEED RAIL SYSTEMS: THE CASE STUDY OF ITALY

Directory of Open Access Journals (Sweden)

Francesca PAGLIARA

2016-09-01

Full Text Available It is recognised in the literature that spatial accessibility is a measure of spatial equity and can be represented by the ease of travelling from an origin to a given destination via a given mode or set of transport modes. Although urban areas can benefit from improvements in accessibility when a new high-speed rail line is built, equity issues may arise. This manuscript describes a methodology for evaluating equity impacts due to an extension of the High Speed Rail network in Italy. A joint Revealed/Stated Preference survey has been carried out, collecting socioeconomic and travel data. Specifically, nine hypothetical scenarios have been submitted to Italian users aiming at understanding the motivations for not choosing the High Speed Rail as an alternative. The main outcome is that the access/egress travel costs connected with the High Speed Rail have a strong impact on spatial equity. The main policy implications of this study are that investors in high-speed rail should not only take into account the economic benefits brought by them, but also the spatial imbalance that these systems can bring.

A framework linking community empowerment and health equity: it is a matter of CHOICE.

Science.gov (United States)

Rifkin, Susan B

2003-09-01

This paper presents a framework to explore the relationship between health equity and community empowerment. It traces the progression of the concept of participation to the present term of empowerment and the links among empowerment, equity, and health outcomes. It argues that the relationship can best be described by using the acronym CHOICE (Capacity-building, Human rights, Organizational sustainability, Institutional accountability, Contribution, and Enabling environment). Based on the concept of development as freedom put forward by Nobel Laureate Amartya Sen, the paper describes how each factor illustrates the relationship between equity and empowerment in positive health outcomes, giving appropriate examples. In conclusion, it is suggested that these factors might form the basis of a tool to assess the relationship between equity and empowerment and its impact on health outcomes.

Activity-Based Costing: A Cost Management Tool.

Science.gov (United States)

Turk, Frederick J.

1993-01-01

In college and university administration, overhead costs are often charged to programs indiscriminately, whereas the support activities that underlie those costs remain unanalyzed. It is time for institutions to decrease ineffective use of resources. Activity-based management attributes costs more accurately and can improve efficiency. (MSE)

EFFECT OF BRAND EQUITY ON FIRMS’ FINANCIAL PERFORMANCE IN CONSUMER GOODS INDUSTRIES

OpenAIRE

Aydin, Gokhan; Ulengin, Burc

2015-01-01

This study aims to find empirical evidence linking consumer based brand equity (CBBE) with financial performance of firms. Aaker’s CBBE approach is adopted and this equity is measured using a questionnaire developed from scales in existing literature. Differing from the extant literature, this study relates CBBE and firms’ performance by taking a direct approach in measuring financial performance by utilizing independently audited financial statements. A face-to-face survey study encompassing...

An Experiment Examining the Relationship of Affect, Equity, and Equity Sensitivity, With Organizational Citizenship Behaviors

OpenAIRE

Kalanick, Julie Lynn

2006-01-01

This study employed an experimental design intended to be an analog to the workplace to simultaneously examine the affect orientation and equity theory explanations of OCBs, which were evaluated as prosocial behaviors. Participants were 188 undergraduates. Participantsâ dispositional variables were measured at time 1, and at time 2, participants experienced an equity manipulation and were given the opportunity to perform prosocial behaviors. Results indicated a distinction between the decis...

Franchisee-based brand equity: the role of brand relationship management

OpenAIRE

Nyadzayo, Munyaradzi Wellington

2017-01-01

Prior research suggests that limited attention has been paid to business-to-business (B2B) branding. Despite compelling evidence that the brand concept is at the very core of franchising success, it is surprising that there is minimal empirical work investigating the importance of the brand in franchising. Further, extant literature suggests that building brand equity is an important strategic issue that can enhance the competitive advantage of retailers. However, despite the increased focus ...

Intergenerational equity and governance in sustainable development policy

International Nuclear Information System (INIS)

Faucheux, S.; Meral, P.

1999-01-01

With ecological globalization, environmental degradation has become a phenomenon capable of accentuating not only the sources of spatial and temporal conflicts, but also inter-and intragenerational inequities. In this context, it seems important, first of all, to explain the ways in which the taking into account of inter-generational equity in our societies' decisions constitutes a new challenge posing unresolved questions for decision makers. Secondly, we see that the implementation of effective policies for sustainable development (that is, taking real account of the long-term and of equity concerns), requires the development of new perspectives and practices in science and of new ''governance'' institutions capable of responding to these new challenges. Thirdly, we show that these changes imply, for economic analysis and the advice that can be offered by economists, a shift from a substantive rationality perspective towards a procedural rationality. This latter encourages the development of new analysis and decision support tools based on a wider sharing of information and efforts at reconciling different perspectives in the assessment of risks and equity concerns. This new rationality will be expressed as a process of debate and dialogue taking place continuously in all phases of the policy process. (orig.)

Another Look at the Performance of Actively Managed Equity Mutual Funds

OpenAIRE

Blitz, David; Huij, Joop

2012-01-01

textabstractIn this study we evaluate the performance of actively managed equity mutual funds against a set of passively managed index funds. We find that the return spread between the best performing actively managed funds and a factor-mimicking portfolio of passive funds is positive and as large as 3 to 5 percent per annum. Our findings are inconsistent with the view that active funds have little or no incremental economic value over low-cost index funds.

Measuring the Impact of Brand Equity on Company Performance: A Study on the Mobile Phone Brands in The Klang Valley, Malaysia

OpenAIRE

Hong, Amelia Woon Ai

2007-01-01

Building and managing brand equity is emphasised in many consumer goods industry to ensure their success. The key to this success is understanding brand equity and managing it to achieve good financial results. Among the many methods of examining brand equity, this study chose the customer-based brand equity method conceptualised by Aaker (1991) and tested by Yoo and Donthu (2001). The aim of this study is to examine the dimensions of brand equity which are brand awareness, brand loyalty, per...

Building a regional health equity movement: the grantmaking model of a local health department.

Science.gov (United States)

Baril, Nashira; Patterson, Meghan; Boen, Courtney; Gowler, Rebekah; Norman, Nancy

2011-01-01

The Boston Public Health Commission's Center for Health Equity and Social Justice provides grant funding, training, and technical assistance to 15 organizations and coalitions across New England to develop, implement, and evaluate community-based policy and systems change strategies that address social determinants of health and reduce racial and ethnic health inequities. This article describes Boston Public Health Commission's health equity framework, theory of change regarding the elimination of racial and ethnic health inequities, and current grantmaking model. To conclude, the authors evaluate the grant model and offer lessons learned from providing multiyear regional grants to promote health equity.

A Study of a Load Cell Based High Speed Weighting Method for a Potato Sorter

International Nuclear Information System (INIS)

Yang, Jong Hoon

2002-02-01

Potatoes, together with tangerines, are one of the major agricultural products in Jeju, and the production account for more than 30 % of the domestic production. Recently some kinds of sorting machine for potatoes are available, but they are not extensively used because their performance is not satisfactory and/or they are very expensive. This paper presents a load cell based high speed weighting method for sorting the potatoes. This method is based on the fact that the linear momentum of a potato is proportional to the mass of it. To test the performance of the weighting system, we developed load cell based automatic sorting system for potatoes. The system does not adopt an additional mechanism for weighting the potato such as a cup conveyer. It uses normal flat conveyers themselves so that the cost for maintenance and establishment will be lower than other system. Through sets of experiments, the developed weighting system was proved to be very reliable, and its performance is good enough to use as a practical sorting system

An intersectionality-based policy analysis framework: critical reflections on a methodology for advancing equity.

Science.gov (United States)

Hankivsky, Olena; Grace, Daniel; Hunting, Gemma; Giesbrecht, Melissa; Fridkin, Alycia; Rudrum, Sarah; Ferlatte, Olivier; Clark, Natalie

2014-12-10

In the field of health, numerous frameworks have emerged that advance understandings of the differential impacts of health policies to produce inclusive and socially just health outcomes. In this paper, we present the development of an important contribution to these efforts - an Intersectionality-Based Policy Analysis (IBPA) Framework. Developed over the course of two years in consultation with key stakeholders and drawing on best and promising practices of other equity-informed approaches, this participatory and iterative IBPA Framework provides guidance and direction for researchers, civil society, public health professionals and policy actors seeking to address the challenges of health inequities across diverse populations. Importantly, we present the application of the IBPA Framework in seven priority health-related policy case studies. The analysis of each case study is focused on explaining how IBPA: 1) provides an innovative structure for critical policy analysis; 2) captures the different dimensions of policy contexts including history, politics, everyday lived experiences, diverse knowledges and intersecting social locations; and 3) generates transformative insights, knowledge, policy solutions and actions that cannot be gleaned from other equity-focused policy frameworks. The aim of this paper is to inspire a range of policy actors to recognize the potential of IBPA to foreground the complex contexts of health and social problems, and ultimately to transform how policy analysis is undertaken.

Forecasting market impact costs and identifying expensive trades

NARCIS (Netherlands)

Bikker, J.A.; Spierdijk, L.; Hoevenaars, R.P.M.M.; van der Sluis, P.J.

Often, a relatively small group of trades causes the major part of the trading costs on an investment portfolio. For the equity trades studied in this paper, executed by the world's second largest pension fund, we find that only 10% of all trades determines 75% of total market impact costs.

Bond and Equity Home Bias and Foreign Bias: an International Study

OpenAIRE

VanPée, Rosanne; De Moor, Lieven

2012-01-01

In this paper we explore tentatively and formally the differences between bond and equity home bias and foreign bias based on one large scale dataset including developed and emerging markets for the period 2001 to 2010. We set the stage by tentatively and formally linking the diversion of bond and equity home bias in OECD countries to the increasing public debt issues under the form of government bonds i.e. the supply-driven argument. Unlike Fidora et al. (2007) we do not find that exchange r...

Relationship between Major Developed Equity Markets and Major Frontier Equity Markets of World

Directory of Open Access Journals (Sweden)

Muhammad Mansoor Baig

2016-02-01

Full Text Available The core aim of this study is to compute the long run relationship between frontier equity markets Pakistan (KSE 100 Index, Argentina (MERVAL BUENOS AIRES stock Exchange, NSE.20 (Kenya, MSM 30 (MSI Oman and equity markets of developed world (OMXS30 Sweden, SMI (Switzerland, SSE Composite Index (China and STI index (Singapore by taking weekly values from stock return prices for the period 1st week of January-2000 to last week of January/2014. Descriptive statistic, Correlation, Augmented dickey fuller (ADF, Phillips Perron test, Johanson and Jelseluis test of co-integration, Granger causality test, Variance Decomposition Test and Impulse Response are used to find the relationship among frontier and developed markets. The results of this study reveal that frontier markets have no long run relationship with equity markets of developed world. Furthermore, this study is helpful for investors to enhance the returns by diversifying the unsystematic risk at given level of profit because results of this study confirm that markets are no cointegrated.

An Empirical Investigation to Analyze the Brand Equity and Resonance of Banking Services: Evidence from India

Directory of Open Access Journals (Sweden)

Vikas Gautam

2012-03-01

Full Text Available This study attempts to verify the determinants of brand equityof services based on consumers’ perception of a banking service.The present study is based on customer-based brand equity calledthe Brand Resonance model suggested by Keller (2001, whichcomprises six brand equity constructs, such as: brand resonance;brand judgements; brand feelings; brand performance; brand imagery;brand salience. Exploratory factor analysis was performedto reduce the total number of items to a small number of underlyingfactors, and the results produced six factors, namely: brandresonance; brand judgements; brand feelings; brand performance;brand imagery; brand salience. These alpha coefficients ofthe reliability test were found to be ranging from 0.781 to 0.912for all of the brand equity constructs individually, and for the entirescale the value of alpha was found to be 0.837. Correlationanalysis was performed to find out relationships among variouscomponents of brand equity. From the findings of multiple regressionanalysis it is evident that brand performance emergedas the most important determinant of brand resonance, followedby brand feelings (0.427 and brand judgements (0.306.

Cheap versus expensive trades: Assessing the determinants of market impact costs

NARCIS (Netherlands)

Bikker, J.A.; Spierdijk, L.; van der Sluis, P.J.

2005-01-01

This paper assesses the determinants of market impact costs of institutional equity trades, using unique data from the world's second largest pension fund. We allow the impact of trade characteristics and market conditions on trading costs to depend on the level of trading costs itself and establish

Cost-effectiveness of a school-based health promotion program in Canada: A life-course modeling approach.

Directory of Open Access Journals (Sweden)

John Paul Ekwaru

Full Text Available The Alberta Project Promoting active Living and healthy Eating in Schools (APPLE Schools has been recognized as a "best practice" in preventing childhood obesity. To inform decision making on the economic implications of APPLE Schools and to justify investment, we evaluated the project's cost-effectiveness following a life-course approach.We developed a state transition model for the lifetime progression of body weight status comparing elementary school students attending APPLE Schools and control schools. This model quantified the lifetime impact of APPLE Schools in terms of prevention of excess body weight, chronic disease and improved quality-adjusted life years (QALY, from a school system's cost perspective. Both costs and health outcomes were discounted to their present value using 3% discount rate.The incremental cost-effectiveness ratio(ICER of APPLE schools was CA$33,421 per QALY gained, and CA$1,555, CA$1,709 and CA$14,218 per prevented person years of excess weight, obesity and chronic disease, respectively. These estimates show that APPLE Schools is cost effective at a threshold of ICER < CA$50,000. In probabilistic sensitivity analysis, APPLE Schools was cost effective more than 64% of the time per QALY gained, when using a threshold of ICERbased health promotion, such as APPLE Schools is a cost-effective intervention for obesity prevention and reduction of chronic disease risk over the lifetime. Expanding the coverage and allocating resources towards school-based programs like the APPLE Schools program, is likely to reduce the public health burden of obesity and chronic diseases.

Banking Firm, Equity and Value at Risk

Directory of Open Access Journals (Sweden)

Udo Broll

2012-12-01

Full Text Available The paper focuses on the interaction between the solvency probability of a banking firm and the diversification potential of its asset portfolio when determining optimal equity capital. The purpose of this paper is to incorporate value at risk (VaR into the firm-theoretical model of a banking firm facing the risk of asset return. Given the necessity to achieve a confidence level for solvency, we demonstrate that diversification reduces the amount of equity. Notably, the VaR concept excludes a separation of equity policy and asset-liability management.

Development and Application of Coating Weight Control Technology

Energy Technology Data Exchange (ETDEWEB)

Park, Jin Hyoung [Dongbu Steel, Incheon (Korea, Republic of)

2010-08-15

Precise coating weight control is very important issue on quality and minimizing operating costs on continuous galvanizing line. These days, many steel making companies are having a new understanding of cost importance by rise raw material prices and customers requirement for cost reduction. Dongbu steel also meets these situations and decided to develop the technologies. Dongbu Steel developed Integrated coating weight control system jointly with Objective Control Ltd. and installed 2CGL and 4CGL. Several technological functions were developed and realized to achieve true hands-off operation and maximum cost benefit by combining model-based preset and dynamic prediction models. We also installed it on 1 CGL on April, 2008. This paper will present the interface, functions and application result of the integrated coating weight control system including Zn saving and coating weight uniformity.

Design of segmented thermoelectric generator based on cost-effective and light-weight thermoelectric alloys

International Nuclear Information System (INIS)

Kim, Hee Seok; Kikuchi, Keiko; Itoh, Takashi; Iida, Tsutomu; Taya, Minoru

2014-01-01

Highlights: • Segmented thermoelectric (TE) module operating at 500 °C for combustion engine system. • Si based light-weight TE generator increases the specific power density [W/kg]. • Study of contact resistance at the bonding interfaces maximizing output power. • Accurate agreement of the theoretical predictions with experimental results. - Abstract: A segmented thermoelectric (TE) generator was designed with higher temperature segments composed of n-type Mg 2 Si and p-type higher manganese silicide (HMS) and lower temperature segments composed of n- and p-type Bi–Te based compounds. Since magnesium and silicon based TE alloys have low densities, they produce a TE module with a high specific power density that is suitable for airborne applications. A two-pair segmented π-shaped TE generator was assembled with low contact resistance materials across bonding interfaces. The peak specific power density of this generator was measured at 42.9 W/kg under a 498 °C temperature difference, which has a good agreement with analytical predictions

Cost analysis of biologic drugs in rheumatoid arthritis first line treatment after methotrexate failure according to patients' body weight.

Science.gov (United States)

Román Ivorra, José Andrés; Ivorra, José; Monte-Boquet, Emilio; Canal, Cristina; Oyagüez, Itziar; Gómez-Barrera, Manuel

2016-01-01

The objective was to assess the influence of patients' weight in the cost of rheumatoid arthritis treatment with biologic drugs used in first line after non-adequate response to methotrexate. Pharmaceutical and administration costs were calculated in two scenarios: non-optimization and optimization of intravenous (IV) vials. The retrospective analysis of 66 patients from a Spanish 1,000 beds-hospital Rheumatology Clinic Service was used to obtain posology and weight data. The study time horizon was two years. Costs were expressed in 2013 euros. For an average 69kg-weighted patient the lowest cost corresponded to abatacept subcutaneous (SC ABA) (€21,028.09) in the scenario without IV vials optimization and infliximab (IFX) (€20,779.29) with optimization. Considering patients' weight in the scenario without IV vials optimization infliximab (IFX) was the least expensive drug in patients ranged 45-49kg, IV ABA in 50-59kg and SC ABA in patients over 60kg. With IV vials optimization IFX was the least expensive drug in patients under 69kg and SC ABA over 70kg. Assuming comparable effectiveness of biological drugs, patient's weight is a variable to consider, potentials savings could reach €20,000 in two years. Copyright © 2015 Elsevier España, S.L.U. and Sociedad Española de Reumatología y Colegio Mexicano de Reumatología. All rights reserved.

Teammates and social influence affect weight loss outcomes in a team-based weight loss competition.

Science.gov (United States)

Leahey, Tricia M; Kumar, Rajiv; Weinberg, Brad M; Wing, Rena R

2012-07-01

Team-based internet interventions are increasing in popularity as a way of promoting weight loss in large numbers of individuals. Given that social networks influence health behavior change, this study investigated the effects of teammates and social influence on individual weight loss during a team-based weight loss competition. Shape Up Rhode Island (SURI) 2009 was a 12-week online program open to adult residents of Rhode Island. Participants joined with a team and competed with other teams on weight loss and/or physical activity. Overweight/obese (OW/OB) individuals (N = 3,330; 76% female; age = 46.1 ± 10.8; BMI = 31.2 ± 5.3 kg/m(2)), representing 987 teams, completed the weight loss program. Multilevel modeling was used to examine whether weight loss clustered among teammates and whether percentage of teammates in the weight loss division and reported teammate influence on weight loss were associated with individual weight outcomes. OW/OB completers reported losing 4.2 ± 3.4% of initial body weight. Weight loss was similar among teammates (intraclass correlation coefficient (ICC) = 0.10, P social influence for weight loss were associated with greater percent weight loss (P's ≤ 0.002). Similarly, achieving a clinically significant (5%) weight loss tended to cluster within teams (ICC = 0.09; P social influence for weight loss were associated with increased likelihood of achieving a 5% weight loss (odds ratio (OR) = 1.06; OR = 1.20, respectively). These results suggest that teammates affect weight loss outcomes during a team-based intervention. Harnessing and maximizing teammate influence for weight loss may enhance weight outcomes in large-scale team-based programs.

Influence of gender equity awareness on women's reproductive healthcare in rural areas of midwest China.

Science.gov (United States)

Wang, Lei; Cui, Ying; Zhang, Li; Wang, Chao; Jiang, Yan; Shi, Wei

2013-11-01

To investigate the impact of married women's gender equity awareness on use of reproductive healthcare services in rural China. The questionnaire-based study recruited 1500 married women who were aged 15-49years, had at least 1 pregnancy, and were living in rural Gansu, Qinghai, Shanxi, or Xinjiang, China, between October and December 2010. "Gender equity awareness" was quantified by responses to 7 statements, graded in accordance with a system scoring the strength of overall belief (≥19, strong; 15-18, moderate; and ≤14, weak). Only 383 women (26.3%) demonstrated high gender equity awareness. The percentage of women who received consistent prenatal care was highest in the group scoring 15 points or more (Pgender equity awareness is not strong in rural midwest China. There was a positive correlation between gender equity awareness and use of reproductive healthcare services. There should be an emphasis on various activities to educate women so that they can fully access reproductive healthcare. © 2013.

KNOWLEDGE, PERCEPTION AND ATTITUDE OF BALINESE COMMUNITY TOWARD GENDER CONCEPT AND GENDER EQUITY AND EQUALITY

Directory of Open Access Journals (Sweden)

Ni Luh Arjani

2012-11-01

Full Text Available Gender inequity and inequality in the community would restrict developmentprocess. Therefore, struggle toward gender equity and equality is become interestingglobal issue for the world and also Indonesia and Bali.The aims of this study is 1 to analyze knowledge, perception, and attitude ofBalinese community toward gender concept and gender equity and equality, and 2 toknow implementation of gender role in the family and community. This study is carriedout in the three regencies/city in Bali, i.e. Buleleng, Tabanan and Denpasar. In eachregency/city, two types of village is determined that are urban and rural. Data arecollected by implementing structured interview based on questionnaire which is asked to120 respondents and completed with in-depth interview based on interview guidance tosome key respondents.The finding shows that most of respondent (68.30 % have not known genderconcept, means that only 21.70 percent stated that they already known it, and they havedifferent understanding both about gender term and gender equity and equality. Withregard to gender equity and equality, only 24.20 percent of respondent report that theyhave read and heard about this term. However, when it is related to gender equity andequality program, most of them (91.60 % of respondent stated that they agree with sucha program. In addition, it is also found that in the reality, almost all respondent actuallyhave implemented job sharing between man and women flexibly, means that they swapthe role of each other depend on situation and condition. This reality reflects that there isa shifting of thinking pattern of the community from rigid toward flexible division of job.Based on the findings, it can be concluded that although only small number ofcommunity member have known and understand gender concept and gender equity andequality, actually they have implemented it in their daily life. In general, communitymember also agree for changing their attitude toward gender role

THE POTENTIAL OF THE EQUITY WORKING CAPITAL IN THE PREDICTION OF BANKRUPTCY

OpenAIRE

Daniel BRÎNDESCU – OLARIU

2014-01-01

The current study evaluates the potential of the equity working capital in predicting corporate bankruptcy. The population subjected to the analysis included all companies form Timis County (largest Romanian County) with yearly sales of over 10000 lei. The interest for the equity working capital was based on the recommendations of the literature, as well as on the availability of information concerning its values to all stakeholders. The event on which the research was focused was repr...

Health equity in the New Zealand health care system: a national survey.

Science.gov (United States)

Sheridan, Nicolette F; Kenealy, Timothy W; Connolly, Martin J; Mahony, Faith; Barber, P Alan; Boyd, Mary Anne; Carswell, Peter; Clinton, Janet; Devlin, Gerard; Doughty, Robert; Dyall, Lorna; Kerse, Ngaire; Kolbe, John; Lawrenson, Ross; Moffitt, Allan

2011-10-20

In all countries people experience different social circumstances that result in avoidable differences in health. In New Zealand, Māori, Pacific peoples, and those with lower socioeconomic status experience higher levels of chronic illness, which is the leading cause of mortality, morbidity and inequitable health outcomes. Whilst the health system can enable a fairer distribution of good health, limited national data is available to measure health equity. Therefore, we sought to find out whether health services in New Zealand were equitable by measuring the level of development of components of chronic care management systems across district health boards. Variation in provision by geography, condition or ethnicity can be interpreted as inequitable. A national survey of district health boards (DHBs) was undertaken on macro approaches to chronic condition management with detail on cardiovascular disease, chronic obstructive pulmonary disease, congestive heart failure, stroke and diabetes. Additional data from expert informant interviews on program reach and the cultural needs of Māori and Pacific peoples was sought. Survey data were analyzed on dimensions of health equity relevant to strategic planning and program delivery. Results are presented as descriptive statistics and free text. Interviews were transcribed and NVivo 8 software supported a general inductive approach to identify common themes. Survey responses were received from the majority of DHBs (15/21), some PHOs (21/84) and 31 expert informants. Measuring, monitoring and targeting equity is not systematically undertaken. The Health Equity Assessment Tool is used in strategic planning but not in decisions about implementing or monitoring disease programs. Variable implementation of evidence-based practices in disease management and multiple funding streams made program implementation difficult. Equity for Māori is embedded in policy, this is not so for other ethnic groups or by geography. Populations

Study on Equity and Efficiency of Health Resources and Services Based on Key Indicators in China.

Directory of Open Access Journals (Sweden)

Xinyu Zhang

Full Text Available This study aims to evaluate the dialectical relationship between equity and efficiency of health resource allocation and health service utilization in China.We analyzed the inequity of health resource allocation and health service utilization based on concentration index (CI and Gini coefficient. Data envelopment analysis (DEA was used to evaluate the inefficiency of resource allocation and service utilization. Factor Analysis (FA was used to determine input/output indicators.The CI of Health Institutions, Beds in Health Institutions, Health Professionals and Outpatient Visits were -0.116, -0.012, 0.038, and 0.111, respectively. Gini coefficient for the 31 provinces varied between 0.05 and 0.43; out of these 23 (742% were observed to be technically efficient constituting the "best practice frontier". The other 8 (25.8% provinces were technically inefficient.Health professionals and outpatient services are focused on higher income levels, while the Health Institutions and Beds in Health Institutions were concentrated on lower income levels. In China, a few provinces attained a basic balance in both equity and efficiency in terms of current health resource and service utilization, thus serving as a reference standard for other provinces.

Radiobiologically based assessments of the net costs of fractionated radiotherapy

International Nuclear Information System (INIS)

Dale, Roger G.; Jones, Bleddyn

1996-01-01

Purpose: To examine how the long-term costs of radiation therapy may be influenced by modifications to fractionation schemes, and how any improvements in tumor control might, in principle, be translated into a potential cost saving for the responsible healthcare organization. Methods and Materials: Standard radiobiological modeling based on the linear-quadratic (LQ) model is combined with financial parameters relating to the estimated costs of different aspects of radiotherapy treatment delivery. The cost model includes provision for the long-term costs of treatment failure and enables the extra costs of near optimal radiotherapy to be balanced against suboptimal alternatives, which are more likely to be associated with further radiotherapy, salvage surgery, and continuing care. Results: A number of caveats are essential in presenting a model such as this for the first time, and these are clearly stated. However, a recurring observation is that, in terms of the whole cost of supporting a patient from first radiotherapy treatment onwards, high quality radiotherapy (i.e., based on individual patterns of fractionation that are near optimal for particular subpopulations of tumor) will frequently be associated with the lowest global cost. Conclusions: This work adds weight to the case for identifying fast and accurate predictive assay techniques, and supports the argument that suboptimal radiotherapy is usually more costly in the long term. Although the article looks only at the cost-benefit consequences of altered patterns of fractionation, the method will, in principle, have application to other changes in the way radiotherapy can be performed, e.g., to examining the cost-benefit aspects of tumor dose escalation as a consequence of using advanced conformal treatment planning

Impact of telephone nursing education program for equity in healthcare.

Science.gov (United States)

Höglund, Anna T; Carlsson, Marianne; Holmström, Inger K; Kaminsky, Elenor

2016-09-21

The Swedish Healthcare Act prescribes that healthcare should be provided according to needs and with respect for each person's human dignity. The goal is equity in health for the whole population. In spite of this, studies have revealed that Swedish healthcare is not always provided equally. This has also been observed in telephone nursing. Therefore, the aim of the present study was to investigate if and how an educational intervention can improve awareness of equity in healthcare among telephone nurses. The study had a quasi-experimental design, with one intervention group and one control group. A base-line measurement was performed before an educational intervention and a follow-up measurement was made afterwards in both groups, using a study specific questionnaire in which fictive persons of different age, gender and ethnicity were assessed concerning, e.g., power over one's own life, quality of life and experience of discrimination. The educational intervention consisted of a web-based lecture, literature and a seminar, covering aspects of inequality in healthcare related to gender, age and ethnicity, and gender and intersectionality theories as explaining models for these conditions. The results showed few significant differences before and after the intervention in the intervention group. Also in the control group few significant differences were found in the second measurement, although no intervention was performed in that group. The reason might be that the instrument used was not sensitive enough to pick up an expected raised awareness of equity in healthcare, or that solely the act of filling out the questionnaire can create a sort of intervention effect. Fictive persons born in Sweden and of young age were assessed to have a higher Good life-index than the fictive persons born outside Europe and of higher age in all assessments. The results are an imperative that equity in healthcare still needs to be educated and discussed in different healthcare

Comparing Ethical and Epistemic Standards for Investigative Journalists and Equity-Oriented Collaborative Community-Based Researchers: Why Working for a University Matters

Science.gov (United States)

Newman, Anne; Glass, Ronald David

2014-01-01

Criticisms of IRBs are proliferating. In response, we compare the ethical and epistemic standards of two closely related forms of inquiry, investigative journalism and equity-oriented collaborative community-based research (EOCCBR). We argue that a university affiliation justifies formal ethical review of research and suggest how institutionalized…

The Risk Premium for Equity : Explanations and Implications

NARCIS (Netherlands)

Grant, S.; Quiggin, J.

2001-01-01

The equity premium puzzle shows that using standard parameters and setup, the Consumption-based Capital Asset Pricing Model's (CCAPM's) prediction of the premium associated with systematic risk is out by an order of magnitude.The object of this paper is to consider the implications of each of the

Cost of intervention delivery in a lifestyle weight loss trial in type 2 diabetes: results from the Look AHEAD clinical trial.

Science.gov (United States)

Rushing, J; Wing, R; Wadden, T A; Knowler, W C; Lawlor, M; Evans, M; Killean, T; Montez, M; Espeland, M A; Zhang, P

2017-03-01

The Action for Health in Diabetes (Look AHEAD) trial was a randomized controlled clinical trial to compare the effects of 10 years of intensive lifestyle intervention (ILI) with a control condition of diabetes support and education (DSE) on health outcomes in over 5,000 participants with type 2 diabetes. The ILI had significantly greater weight losses than DSE throughout the trial. The goal of this analysis is to describe the cost of delivering the intervention. The ILI was designed to promote weight loss and increase physical activity. It involved a combination of group plus individual intervention sessions, with decreasing frequency of contact over the 10 years. The intervention incorporated a variety of strategies, including meal replacement products, to improve weight loss outcomes. The costs of intervention delivery were derived from staff surveys of effort and from records of intervention materials from the 16 US academic clinical trial sites. Costs were calculated from the payer perspective and presented in 2012 dollars. During the first year, when intervention delivery was most intensive, the annual cost of intervention delivery, averaged (standard deviation) across clinical sites, was $2,864.6 ($513.3) per ILI participant compared with $202.4 ($76.6) per DSE participant. As intervention intensity declined, costs decreased, such that from years 5 to 9 of the trial, the annual cost of intervention was $1,119.8 ($227.7) per ILI participant and $102.9 ($33.0) per DSE participant. Staffing accounted for the majority of costs throughout the trial, with meal replacements and materials to promote adherence accounting for smaller shares. The sustained weight losses produced by the Look AHEAD intervention were supported by intervention costs that were within the range of other weight loss programmes. Future work will include an evaluation of the cost-effectiveness of the ILI and will contain additional follow-up data.

Economic policy uncertainty, equity premium and dependence between their quantiles: Evidence from quantile-on-quantile approach

Science.gov (United States)

Raza, Syed Ali; Zaighum, Isma; Shah, Nida

2018-02-01

This paper examines the relationship between economic policy uncertainty and equity premium in G7 countries over a period of the monthly data from January 1989 to December 2015 using a novel technique namely QQ regression proposed by Sim and Zhou (2015). Based on QQ approach, we estimate how the quantiles of the economic policy uncertainty affect the quantiles of the equity premium. Thus, it provides a comprehensive insight into the overall dependence structure between the equity premium and economic policy uncertainty as compared to traditional techniques like OLS or quantile regression. Overall, our empirical evidence suggests the existence of a negative association between equity premium and EPU predominately in all G7 countries, especially in the extreme low and extreme high tails. However, differences exist among countries and across different quantiles of EPU and the equity premium within each country. The existence of this heterogeneity among countries is due to the differences in terms of dependency on economic policy, other stock markets, and the linkages with other country's equity market.

A Systematic Review of Electronic Mindfulness-Based Therapeutic Interventions for Weight, Weight-Related Behaviors, and Psychological Stress.

Science.gov (United States)

Lyzwinski, Lynnette Nathalie; Caffery, Liam; Bambling, Matthew; Edirippulige, Sisira

2018-03-01

Recent research indicates that mindfulness-based interventions are effective for stress, maladaptive weight-related behaviors, and weight loss. Little is presently known about their applicability and effectiveness when delivered electronically, including through Web-based and mobile device media. The primary aims of this review were to identify what types of electronic mindfulness-based interventions have been undertaken for stress, maladaptive weight-related behaviors, and weight loss, and to assess their overall effectiveness. A systematic search of PubMed (MEDLINE), Embase, CINAHL, and Web of Science databases was undertaken in June 2016. A total of 21 studies were identified that met inclusion criteria and were selected in the final review. Of these, 19 were mindfulness-based interventions for stress reduction. Two were Web-based mindful eating/intuitive eating interventions for weight. Only one electronic mindfulness-based study was identified that targeted both stress and maladaptive weight-related behaviors. Most electronic interventions were effective for stress reduction N = 14/19 (74%). There were insufficient electronic mindfulness-based interventions for weight to determine if they were effective or not. Additionally, no mobile mindfulness-based intervention was identified for weight or weight-related behaviors. Electronic mindfulness-based interventions through diverse media appear to be effective for stress reduction. More studies are needed that target weight and weight-related behaviors as well as studies that target both stress and weight. More randomized controlled trials (RCTs) that assess mobile mindfulness-based apps are needed as we only identified four app trials for stress. Mobile mindfulness-based interventions for weight and weight-related behaviors are a future area of research novelty.