WorldWideScience

Sample records for energetic investment evaluation

  1. Rural energy for development: energetic investment evaluation using multi-sectorial models and the NTICs; Energie rurale pour le developpement

    Energy Technology Data Exchange (ETDEWEB)

    Bentaleb, N

    2002-12-15

    Based on field work carry out in Africa as well as on theoretical analyses from the perspective of sectoral representation of economies, this dissertation examines the impacts of energetic investments. It is divided in two main parts. The first part of the dissertation situates the role that rural energy plays for development from the standpoint of offer. In this part, the energetic situation of Southern countries is examined through rural needs and in the context of growing environmental awareness (Chapter 1). Then, the different actors in the energy sector are presented, taking into account the failure of governments to create the necessary infrastructure themselves (Chapter 2). Finally, the object of this study is investigated through what can be learned from informal economics (Chapter 3). In the second part of the dissertation, Chapter 4 examines the advantages and disadvantages of using multi-sectoral models for the subject of evaluating energetic investments. In Chapter 5, the sectoral representation is specified in a social accounting matrix. In addition, the IRIS software is presented, which has been developed in the framework of this thesis. Finally, in Chapter 6, the results of surveys realized in Burkina Faso and Morocco are presented and discussed. (author)

  2. APPROACHES FOR EVALUATING AND FINANCING INVESTMENT PROJECTS

    Directory of Open Access Journals (Sweden)

    MARIA-LOREDANA POPESCU

    2011-04-01

    Full Text Available This article presents the financial investment approach and the investment evaluation methods, which are criteria for assessing both investment projects and their funding sources. An important role in the analysis carried out is played by the investment decision and financing decision quality. Making an investment decision implies computing the related investment efficiency indicators. They allow the comparison of several variants of the same investment project as well as their comparison with other projects in the same industry or in other industries. The financing decision concerns the selection between their own sources (share capital, depreciation fund, profits, reserve funds, additional capital, revenues from investments, attracted sources (domestic resource mobilization and borrowed sources (credits.

  3. Synthesis and evaluation of energetic materials

    Science.gov (United States)

    Santhosh, G.

    Over the years new generations of propellants and explosives are being developed. High performance and pollution prevention issues have become the subject of interest in recent years. Desired properties of these materials are a halogen-free, nitrogen and oxygen rich molecular composition with high density and a positive heat of formation. The dinitramide anion is a new oxy anion of nitrogen and forms salts with variety of metal, organic and inorganic cations. Particular interest is in ammonium dinitramide (ADN, NH4N(NO 2)2) which is a potentially useful energetic oxidizer. ADN is considered as one of the most promising substitutes for ammonium perchlorate (AP, NH4ClO4) in currently used composite propellants. It is unique among energetic materials in that it has no carbon or chlorine; its combustion products are not detrimental to the atmosphere. Unquestionable advantage of ADN over AP is the significant improvement in the performance of solid rocket motors by 5-15%. The present thesis is centered on the experimental results along with discussion of some of the most pertinent aspects related to the synthesis and characterization of few dinitramide salts. The chemistry, mechanism and kinetics of the formation of dinitramide salts by nitration of deactivated amines are investigated. The evaluation of the thermal and spectral properties along with the adsorption and thermal decomposition characteristics of the dinitramide salts are also explored in this thesis.

  4. Monitoring the effectiveness evaluation of investment projects

    Directory of Open Access Journals (Sweden)

    Skopin Alex O.

    2012-02-01

    Full Text Available The article raised the question of monitoring regulatory evaluation of the effectiveness of regional investment projects. This is justified by the fact that the current regulatory framework defined indicators for measuring the effectiveness of regional investment projects, but these figures are usually used only at the design stage of the project, an interim assessment of the effectiveness of a sufficiently simplified and based on the level of exploration investment.

  5. IT Project Evaluation and Investment Decision

    Institute of Scientific and Technical Information of China (English)

    黄东兵; 张世英

    2004-01-01

    There are many kinds of real options,which are valuable,in each phase of the lifetime of an information technology(IT)project.However,in the current IT investment decision theory,real options that embedded in IT projects are not considered. In this paper, the process of IT project decision and implementation is fully analyzed, the real options that may be embedded in an IT project are identified, and a real option analysis (ROA) method is proposed for evaluation of an IT project under uncertain business environment. ROA employs Black-Scholes expansion model and cancels the assumption that the cost of project is certain. The numerical example manifests that the ROA can better evaluate IT project and select the IT investment alternative. Finally, a road map is provided to help selecting the suitable evaluation method to make IT investment decision.

  6. Complete cost insertion in the evaluation within the energetic planning

    International Nuclear Information System (INIS)

    Reis, Lineu Belico dos; Udaeta, Miguel Edgar Morales; Carvalho, Claudio Elias

    1999-01-01

    The article discusses the environment, social and economic costs in the energetic planning. In this context, it is introduced the Complete Costs Evaluation boarding and it is presented a case study based on a kind of fertilizer produced in Sao Paulo, a Brazilian state. Quantitative and qualitative evaluation were also presented and the results were discussed

  7. Performance Evaluation of Investment (Mutual Funds

    Directory of Open Access Journals (Sweden)

    Povilas Vyšniauskas

    2014-12-01

    Full Text Available The efficiency of an investment fund is one of the main components in evaluating the performance of the fund. This study seeks for introducing and comparing risk and performance evaluation ratios. The paper is aimed at testing the worked out ratios and at distinguishing between the best ones for the purpose of evaluating the performance of Lithuanian mutual funds. Scientific studies show that a standard deviation, alpha, beta, Sharpe and Treynor ratios are mostly employed for identifying the performance of mutual funds that are also compared with their benchmark index to establish if these funds are outperformed and if is it worth paying management fees to investment banks for managing mutual funds. Historical data were selected for the period from 2012-01-02 to 2013-10-15 analysing the prices of monthly funds. The paper points out the areas of a practical application of the proposed model for investment fund valuation, which may not only provide valuable outcomes for practitioners but also may inspire further research on this article.

  8. Methodology of investment effectiveness evaluation in the local energy market

    Energy Technology Data Exchange (ETDEWEB)

    Kamrat, W.

    1999-07-01

    The paper presents issues of investment effectiveness evaluation in the local energy market. Results of research presented in the paper are mainly proposing a concept of a methodology which allows the evaluation of investment processes in regional power markets at the decision-making stage. In this respect, selecting a rational investment strategy is an important stage of the entire investment process. In view of criteria of various nature, the construction of a methodology of investment effectiveness bears an especially important meaning for a local decision-maker or investor. It is of particular significance to countries that are undergoing a transition from a centrally planned economy to a market economy. (orig.)

  9. Evaluation of MIA, Vamil and Green Investments. Investments 2000-2004. Evaluation of tax measures and effects

    International Nuclear Information System (INIS)

    2007-07-01

    The Environmental Investment Allowance (MIA), the Random Depreciation of Environmental Investments (VAMIL) and green investments entail fiscal costs that need ex-post evaluation based on the regulations of the RPE (ministerial regulation on performance measurement and evaluation). The aim of the evaluation was to describe the effectiveness of the policy instruments and their implementation. In addition to this basic objective a secondary objective was to provide insight in the expenditure of the means and to list improvement options. [mk] [nl

  10. EVALUATION METHODS OF INVESTMENT ATTRACTIVENESS OF UKRAINIAN AGRICULTURAL ENTERPRISES

    Directory of Open Access Journals (Sweden)

    Nadiia Davydenko

    2017-12-01

    Full Text Available The purpose of the article is to reveal scientific approaches to determining investment attractiveness of enterprises. Evaluation methods of investment attractiveness of enterprises, which are based on various expert assessments, on statistical information, and also combined methodologies based on expert and statistical calculations are investigated. Decision-making criteria on the appropriateness of investment are determined. Methodology. To determine investment attractiveness of agrarian enterprise on the basis of rating and analytical assessment, it is necessary to use an integrated approach and take into account certain set of indicators. During developing and organizing rating restrictions, we conducted an analysis of groups of indicators, which combined characterize investment attractiveness in a complex way, taking into account specifics of the industry. Results. Application of this approach allows quickly evaluating perspectives of funds investing and the reliability of the investment object. At the same time, the investment potential of company and investment risk are expressed by one general indicator, which allows applying rating comparisons. In order to approbate research results, seven agrarian enterprises with positive profitability and appropriate level of financial autonomy are selected. Based on financial statements, we determined their investment attractiveness and rating. Practical implications. Proposed calculation methodology covers all major processes occurring in different functional sectors of the internal environment of agrarian enterprise, which ensures a systematic view of the subject of management, which enables to identify all the strengths and weaknesses, as well as to create a strategy for prospective development on this basis. Presented methodology for the evaluation of investment attractiveness of enterprises can be successfully applied in agrarian enterprises as during the choice of priority directions of

  11. Biomass Power Generation Investment in China: A Real Options Evaluation

    Directory of Open Access Journals (Sweden)

    Mingming Zhang

    2016-06-01

    Full Text Available This paper proposes a real options model for evaluating the biomass power generation investment in China. The uncertainties in the market price of electricity, CO2 price and straw price are considered. Meanwhile the dynamic relationship between installed capacity and fuel cost, as well as the long-term reduction of subsidy are described. Two scenarios, i.e., with the carbon emission trading scheme existent and non-existent, respectively, is built to empirically analyze the investment of a 25-MW straw-based power generation project. The results show that investors should undertake the investment in 2030 under two scenarios. Investment values are 14,869,254.8 and 37,608,727 Chinese Yuan (RMB, respectively. The implementation of the carbon emission trading scheme theoretically helps improve investment value and advance the most likely optimal investment time. However, the current CO2 price is not sufficient to advance the most likely optimal investment time. The impacts of several factors, including subsidy policy, CO2 price, straw price, installed capacity, correlation structure and the validity period of investment, on the optimal investment strategy are also examined. It is suggested that governments take some measures, including increasing subsidy, setting the growth pattern of subsidy and establishing and perfecting a nationwide carbon trading market, to improve the investment environment and attract more investments.

  12. Evaluating Foreign Direct Investment and Africa's Development ...

    African Journals Online (AJOL)

    The question of Africa's development has continued to occupy the front burner from the social and economic discussions by scholars of various divides. But Africa's development through foreign direct investment has become a recent challenge to the African continent. African social critics and commentators as well as ...

  13. Investments

    CERN Document Server

    Bodie, Zvi; Marcus, Alan J.

    2017-01-01

    The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective.

  14. Investments

    CERN Document Server

    Bodie, Zvi

    2013-01-01

    The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. McGraw-Hill's adaptive learning component, LearnSmart, provides assignable modules that help students master chapter core concepts and come to class more prepared. Bodie Investments' blend of practical and theoretical coverage combines with a complete digital solution to help your students achieve higher outcomes in the course

  15. Investment Portfolio Formation Using Multi-criteria evaluation Method MULTIMOORA

    Directory of Open Access Journals (Sweden)

    Vilius Vaišvilas

    2017-06-01

    Full Text Available Information that has to be analyzed by investors is complicated and can be interpreted differently by different people, which is why choosing what should be added to the investment portfolio is complicated task. Complexity grows substantially when there are more alternatives to choose from. Multi – criteria evaluation method can be used to choose the best alternatives. Multi–criteria evaluation method MULTIMOORA is not subjective because there is no need to decide ratio of any given variable that is evaluated. MULTIMOORA consists of: formation of ratio system, application of multi – criteria evaluation method as well as investment evaluation and ranking. Purpose of this article is to apply multi – criteria evaluation method MULTIMOORA for the formation and management of investment portfolio from stocks of the Baltic stock market companies. Methods used in the analysis for the article: analysis of scientific literature, statistical analysis, organization and comparison of data, idealization, calculations of MULTIMOORA.

  16. Applying Real Options for Evaluating Investments in ERP Systems

    Science.gov (United States)

    Nakagane, Jun; Sekozawa, Teruji

    This paper intends to verify effectiveness of real options approach for evaluating investments in Enterprise Resource Planning systems (ERP) and proves how important it is to disclose shadow options potentially embedded in ERP investment. The net present value (NPV) method is principally adopted to evaluate the value of ERP. However, the NPV method assumes no uncertainties exist in the object. It doesn't satisfy the current business circumstances which are filled with dynamic issues. Since the 1990s the effectiveness of option pricing models for Information System (IS) investment to solve issues in the NPV method has been discussed in the IS literature. This paper presents 3 business cases to review the practical advantages of such techniques for IS investments, especially ERP investments. The first case is EDI development. We evaluate the project by a new approach with lighting one of shadow options, EDI implementation. In the second case we reveal an ERP investment has an “expanding option” in a case of eliminating redundancy. The third case describes an option to contract which is deliberately slotted in ERP development to prepare transferring a manufacturing facility.

  17. Attractiveness Evaluation of Investment in Wind Energy Projects

    Directory of Open Access Journals (Sweden)

    Paulius Rudzkis

    2012-07-01

    Full Text Available Last decade as prices of fossil energy resources were almost constantly going upwards, increasing flow of investments is directed to renewable energy resources. Development and application of green energy became one of priority objectives in many countries. While in the context of wind energy production Lithuania lags behind the EU average, its potential of wind energy usage has great perspective. In this article using random processes, cost-benefit and financial analysis, attractiveness of investment in wind energy projects is examined. Given the stochastic nature of wind energy and by looking into investment profitableness and risk factors, effectiveness of wind turbine is evaluated. Analysis showed that wind energy projects could be considered as having high profit-to-risk factor and should generate significant interest of investment community.

  18. Evaluation of the Impact of EISA Federal Project Investments

    Energy Technology Data Exchange (ETDEWEB)

    Judd, Kathleen S.; Wendel, Emily M.; Morris, Scott L.; Williamson, Jennifer L.; Halverson, Mark A.; Livingston, Olga V.; Loper, Susan A.

    2012-12-31

    The DOE's Federal Energy Management Program has been charged by Office of Management and Budget to conduct an evaluation on actual and verifiable energy savings and carbon emissions reductions from federal energy management investments made across the Federal government as a result of the Energy Independence and Security Act of 2007. This study presents the findings from that evaluation.

  19. EVALUE : a computer program for evaluating investments in forest products industries

    Science.gov (United States)

    Peter J. Ince; Philip H. Steele

    1980-01-01

    EVALUE, a FORTRAN program, was developed to provide a framework for cash flow analysis of investment opportunities. EVALUE was designed to assist researchers in evaluating investment feasibility of new technology or new manufacturing processes. This report serves as user documentation for the EVALUE program. EVALUE is briefly described and notes on preparation of a...

  20. The Effect of Jump on Evaluating Natural Resource Investments

    Institute of Scientific and Technical Information of China (English)

    Yang Haisheng; Zhou Yongzhang; Wang Shugong

    2004-01-01

    The evaluation of mining and other natural resource projects is made particularly difficult by the high degree of uncertainty attaching to output prices.It is shown that the techniques of continuous time arbitrage and stochastic control theory may be used not only to value such projects but also to determine the optimal policies for developing managing. This paper describes a model for evaluating natural resource investments under uncertainty from a new perspective. The previous works in this field mostly regard the movements of natural resource prices as a continuous GBM process, which pays few attentions to the shock of unexpected bad news. Our model provides the first theoretical method to analyze the impact of such "jump" on investment decisions. It concludes that the more frequently bad news happens,the earlier a project will be invested.

  1. Multicriteria analysis to evaluate the energetic reuse of riparian vegetation

    International Nuclear Information System (INIS)

    Recchia, Lucia; Cini, Enrico; Corsi, Stefano

    2010-01-01

    The management of riparian vegetation which includes cutting operations of grass, reeds, bushes and trees, is very important to reduce hydrogeologic risk. In Tuscany, riparian biomass and residues are mainly left shredded along courses or disposed in landfills as special wastes: actually different laws prohibit that tree trunks are abandoned in areas naturally affected by flooding, because they can be moved contributing to increase the water level and to maximize the hydraulic risk of some other nearby areas. In some cases, it is also possible to store the logs in specified sites from where they can be taken and used as a fuel in fireplaces or domestic heating plants. This work studies the possibility of the reuse of riparian vegetation as biomass for energy production and evaluates benefits and drawbacks from the economical, environmental and managerial points of view. Particularly, a specific methodology has been developed for two hydrological districts of Tuscany, with different typologies and densities of vegetation. First, an estimation of biomass distribution on the land and an evaluation of annual wood availability have been carried out; then, different chains concerning harvesting operation, biomass transport, storage conditions and final utilisation, have been defined and compared by a specific multicriteria analysis (MCA); finally, for the most suitable bio-energy chains the Life Cycle Assessment (LCA) has been implemented. Results of the LCA have also permitted to validate some environmental indicators used in the MCA, as mechanisation level of yards, energy efficiency of plants or transport distances. The decision making tool developed allows to compare costs and environmental benefits of the energy use of riparian vegetation, supporting local authorities involved in energy planning: in this way it is possible to confront different alternatives to match the energy demand and meet the energy saving and sustainability issues at the lowest cost for the

  2. Multicriteria analysis to evaluate the energetic reuse of riparian vegetation

    Energy Technology Data Exchange (ETDEWEB)

    Recchia, Lucia; Cini, Enrico [Dipartimento di Ingegneria Agraria e Forestale, Universita di Firenze, Piazzale delle Cascine 15, 50144 Firenze (Italy); Corsi, Stefano [Consorzio di Bonifica per la difesa del suolo e la tutela dell' ambiente della Toscana Centrale, via Verdi 16, 50122 Firenze (Italy)

    2010-01-15

    The management of riparian vegetation which includes cutting operations of grass, reeds, bushes and trees, is very important to reduce hydrogeologic risk. In Tuscany, riparian biomass and residues are mainly left shredded along courses or disposed in landfills as special wastes: actually different laws prohibit that tree trunks are abandoned in areas naturally affected by flooding, because they can be moved contributing to increase the water level and to maximize the hydraulic risk of some other nearby areas. In some cases, it is also possible to store the logs in specified sites from where they can be taken and used as a fuel in fireplaces or domestic heating plants. This work studies the possibility of the reuse of riparian vegetation as biomass for energy production and evaluates benefits and drawbacks from the economical, environmental and managerial points of view. Particularly, a specific methodology has been developed for two hydrological districts of Tuscany, with different typologies and densities of vegetation. First, an estimation of biomass distribution on the land and an evaluation of annual wood availability have been carried out; then, different chains concerning harvesting operation, biomass transport, storage conditions and final utilisation, have been defined and compared by a specific multicriteria analysis (MCA); finally, for the most suitable bio-energy chains the Life Cycle Assessment (LCA) has been implemented. Results of the LCA have also permitted to validate some environmental indicators used in the MCA, as mechanisation level of yards, energy efficiency of plants or transport distances. The decision making tool developed allows to compare costs and environmental benefits of the energy use of riparian vegetation, supporting local authorities involved in energy planning: in this way it is possible to confront different alternatives to match the energy demand and meet the energy saving and sustainability issues at the lowest cost for the

  3. Evaluation of synthetic linear motor-molecule actuation energetics

    OpenAIRE

    Brough, Branden; Northrop, Brian H.; Schmidt, Jacob J.; Tseng, Hsian-Rong; Houk, Kendall N.; Stoddart, J. Fraser; Ho, Chih-Ming

    2006-01-01

    By applying atomic force microscope (AFM)-based force spectroscopy together with computational modeling in the form of molecular force-field simulations, we have determined quantitatively the actuation energetics of a synthetic motor-molecule. This multidisciplinary approach was performed on specifically designed, bistable, redox-controllable [2]rotaxanes to probe the steric and electrostatic interactions that dictate their mechanical switching at the single-molecule level. The fusion of expe...

  4. CHARACTERISTICS OF MIRR METHOD IN EVALUATION OF INVESTMENT PROJECTS' EFFECTIVENESS

    Directory of Open Access Journals (Sweden)

    P. Kukhta

    2014-09-01

    Full Text Available There were analyzed characteristics of the Modified Internal Rate of Return method in the evaluation of investment projects, restrictions connected with its application, advantages and disadvantages compared with indicators of the original Internal Rate of Return and Net Present Value for projects with certain baseline characteristics. It was determined opportunities to adapt the method of Modified Internal Rate of Return to alternative computational approaches of the project cash flows evaluation.

  5. CHARACTERISTICS OF MIRR METHOD IN EVALUATION OF INVESTMENT PROJECTS' EFFECTIVENESS

    OpenAIRE

    P. Kukhta

    2014-01-01

    There were analyzed characteristics of the Modified Internal Rate of Return method in the evaluation of investment projects, restrictions connected with its application, advantages and disadvantages compared with indicators of the original Internal Rate of Return and Net Present Value for projects with certain baseline characteristics. It was determined opportunities to adapt the method of Modified Internal Rate of Return to alternative computational approaches of the project cash flows evalu...

  6. Energetic Efficiency Evaluation by Using GroundWater Heat Pumps

    Directory of Open Access Journals (Sweden)

    Tokar Adriana

    2012-09-01

    Full Text Available Romania has significant energy potential from renewable sources, but the potential used is much lower due to technical and functional disadvantages, to economic efficiency, the cost elements and environmental limitations. However, efforts are being made to integrate renewable energy in the national energy system. To promote and encourage private investments for renewable energy utilization, programs have been created in order to access funds needed to implement these technologies. Assessment of such investments was carried out from technical and economical point of view, by analyzing a heat pump using as heat source the solar energy from the ground.

  7. Evaluation of Investment Risks in CBA with Monte Carlo Method

    Directory of Open Access Journals (Sweden)

    Jana Korytárová

    2015-01-01

    Full Text Available Investment decisions are at the core of any development strategy. Economic growth and welfare depend on productive capital, infrastructure, human capital, knowledge, total factor productivity and the quality of institutions. Decision-making process on the selection of suitable projects in the public sector is in some aspects more difficult than in the private sector. Evaluating projects on the basis of their financial profitability, where the basic parameter is the value of the potential profit, can be misleading in these cases. One of the basic objectives of the allocation of public resources is respecting of the 3E principle (Economy, Effectiveness, Efficiency in their whole life cycle. The life cycle of the investment projects consists of four main phases. The first pre-investment phase is very important for decision-making process whether to accept or reject a public project for its realization. A well-designed feasibility study as well as cost-benefit analysis (CBA in this phase are important assumptions for future success of the project. A future financial and economical CF which represent the fundamental basis for calculation of economic effectiveness indicators are formed and modelled in these documents. This paper deals with the possibility to calculate the financial and economic efficiency of the public investment projects more accurately by simulation methods used.

  8. Evaluating investments in renewable energy under policy risks

    International Nuclear Information System (INIS)

    Gatzert, Nadine; Vogl, Nikolai

    2016-01-01

    The considerable amount of required infrastructure and renewable energy investments expected in the forthcoming years also implies an increasingly relevant contribution of private and institutional investors. In this context, especially regulatory and policy risks have been shown to play a major role for investors when evaluating investments in renewable energy and should thus also be taken into account in risk assessment and when deriving risk-return profiles. In this paper, we provide a stochastic model framework to quantify policy risks associated with renewable energy investments (e.g. a retrospective reduction of a feed-in tariff), thereby also taking into account energy price risk, resource risk, and inflation risk. The model is illustrated by means of simulations and scenario analyses, and it makes use of expert estimates and fuzzy set theory for quantifying policy risks. Our numerical results for a portfolio of onshore wind farms in Germany and France show that policy risk can strongly impact risk-return profiles, and that cross-country diversification effects can considerably decrease the overall risk for investors. - Highlights: •Quantification of policy risks associated with renewable energy investments. •Results emphasize that policy risk has a major impact on risk and return. •Study of the cross-country diversification potential. •Cross-country diversification can considerably decrease the risk for an investor.

  9. CONTRIBUTIONS TO EVALUATE DESIGN INVESTMENT IN PORTUGUESE ORANGE FROM SILVES

    Directory of Open Access Journals (Sweden)

    Filipa Pias

    2016-12-01

    Full Text Available Food reminds us every day that we are a part of nature and with our daily choices it is we who preserve or not biodiversity and species. It is we who promote or not the production of more health and fresh food. In an increasingly informed society about the benefits of having a balanced diet, meals started to be seen as tasting flavours and aromas, a moment of well-being, where the origin, production and method of preparation of agricultural products play a leading role. Because the market has changed, it is no longer anonymous it became personalized and essentially motivated by what you can enjoy, which implies a willingness to participate and build its own experience. In general, the companies believe that design collaboration is an advantage but if they do not have means of measuring design’s cost/benefit, it will not be easy to understand design as an investment that brings value to business. The purpose of this research is to draw the attention for the importance of design management, by evaluating the return of design’s investment in the Portuguese agro-food industry and by developing a model that allows them to assess the return on investment in design.

  10. Economic and environmental evaluation of investment projects of biogas plants

    International Nuclear Information System (INIS)

    Guzmán Marrero, Elizabeth; Guzmán Chinea, Jesús Manuel; Mata Varela, Milagros C.; Pérez González, Yanet

    2015-01-01

    The economic evaluation of the implementation and use of renewable energy is an issue of paramount importance and has been approached from different perspectives by different authors in different countries. Biogas technology has its own characteristics that make it more complex analysis involved not only in this case the energy aspect but there is also a significant impact on health assessment difficult, fertilization, soil improvement, animal feed and improved conditions of life. The capital budgeting, in conjunction with the planning process, is a key economic tool for decision making and in turn represents an ongoing challenge for the agricultural sector. It is a necessity of our country, together with the entire world, potentiate the action to correct management of organic waste generated in intensive pig farming, to contribute to the reduction of environmental impacts that this work causes. Studies in this area show the shortcomings that exist in Cuban law established for the evaluation of investment projects, both in its structure and in its cycle, without taking into account important elements such as risk analysis. This research evaluates the economic and financial feasibility of an investment project, including a social and environmental assessment of the same financial justification for the inclusion of risk analysis in the evaluation process (full text)

  11. Evaluation of Foreign Investment in Power Plants using Real Options

    Science.gov (United States)

    Kato, Moritoshi; Zhou, Yicheng

    This paper proposes new methods for evaluating foreign investment in power plants under market uncertainty using a real options approach. We suppose a thermal power plant project in a deregulated electricity market. One of our proposed methods is that we calculate the cash flow generated by the project in a reference year using actual market data to incorporate periodic characteristics of energy prices into a yearly cash flow model. We make the stochastic yearly cash flow model with the initial value which is the cash flow in the reference year, and certain trend and volatility. Then we calculate the real options value (ROV) of the project which has abandonment options using the yearly cash flow model. Another our proposed method is that we evaluate foreign currency/domestic currency exchange rate risk by representing ROV in foreign currency as yearly pay off and exchanging it to ROV in domestic currency using a stochastic exchange rate model. We analyze the effect of the heat rate and operation and maintenance costs of the power plant on ROV, and evaluate exchange rate risk through numerical examples. Our proposed method will be useful for the risk management of foreign investment in power plants.

  12. Fuzzy logic approach for energetic and economic evaluation of hydroelectric projects

    International Nuclear Information System (INIS)

    Iliev, Atanas M.

    2003-01-01

    A mathematical model for energetic and economic evaluation of hydroelectric projects is developed. The main advantage of the proposed methodology is that the model considers uncertainty and vagueness which appears during the decision making process. Due to modeling of variables that are non statistical in their character, fuzzy logic approach is fully incorporated in the model. The first step in energetic evaluation of the hydro power projects is determination of the characteristic of the efficiency of the units to be installed in hydro power plants. For this purpose the model which uses the best characteristics of Artificial Network Fuzzy Inference System (ANFIS) is applied. The method is tested on real systems: HPP Tikves- the power plant in operation and HPP Kozjak - the power plant in construction. The results obtained from practical implementation show that the proposed approach gives superior results than classical polynomial approximation. The model for determining the consumption characteristic of hydro power plant is developed by Sugeno Fuzzy Logic System with polynomials in the consequent part of the rules. Model takes into account the variable gross head of HPP, as well as, the number of units which will be in operation for given output. Modeling of the gross head and power output are performed by expert's design membership functions. This model is practically applied on HPP Tikves for determination of the consumption characteristic for several gross head. The plausible yearly production of electricity from hydro power project, which is important for estimation of the benefit from the project, is calculated by mixed fuzzy-statistical model. hi this approach fuzzy set of the inflow is constructed according to the statistical parameters. The calculation of the production of electricity is realized for a several hydrological conditions which are described by linguistic variables. Finally, Mamdani Fuzzy Inference System with fuzzy number in consequent part

  13. The application of option pricing theory to the evaluation of mining investment

    Institute of Scientific and Technical Information of China (English)

    ZHANG Neng-fu(张能福); CAI Si-jing(蔡嗣经); LIU Chao-ma(刘朝马); TANG Rui(唐瑞)

    2003-01-01

    A rational evaluation on an investment project forms the basis of a right investment decision-making. The discounted cash flow (DCF for short) method is usually used as a traditional evaluation method for a project investment. However, as the mining investment is influenced by many uncertainties, DCF method cannot take into account these uncertainties and often underestimates the value of an investment project. Based on the option pricing theory of the modern financial assets, the characteristics of a real project investment are discussed, and the management option of mine managers and its pricing method are described.

  14. Energetic evaluation: public schools sector; Avaliacao energetica: setor escolas publicas

    Energy Technology Data Exchange (ETDEWEB)

    Jota, Patricia Romeiro da Silva; Ribeiro, Mariane Correa; Martins, Fernando Henrique Dias; Silva, Valeria R. Borges da [Centro Federal de Educacao Tecnologica de Minas Gerais (CEFET-MG), Belo Horizonte, MG (Brazil). Centro de Pesquisa em Energia Inteligente

    2010-07-01

    Energy consumption evaluation at schools is very important for school management. However, there is a great difference among consumption rates, and a simplified analysis would lead to wrong evaluation. It is not possible to analyze schools that have different number of students or different sizes, unless these variables are applied. This article proposes a methodology in order to develop a sector analysis taking into account operation features. A case study is presented to illustrate this methodology. (author)

  15. Evaluating international development investments based on ecosystem services impact

    Science.gov (United States)

    Fremier, A. K.; Brauman, K. A.; Mulligan, M.; Chaplin-Kramer, R.; Gordon, L.; Luedeling, E.; Jones, S. K.; DeClerck, F.

    2016-12-01

    Engineered water-control structures to supply water for agriculture are frequently funded by international development to an effort to improve human wellbeing. Dams, reservoirs, and other forms of water control frequently have negative impacts on other water users; however, their sustainability in the face of climate change and evolving watershed processes have been called into question. Increasingly, planning for and evaluation of investments in water control require integration of these larger scale impacts and dependencies. Ecosystem service approaches can use local to regional scale knowledge to integrate a broader scope of project impacts by quantifying trade-offs in multiple services across proposed development interventions and future scenarios (economic, climate, demographic). Here, we illustrate the role an ecosystem service approach can play in investment decision making to evaluate the impact of small reservoirs on human wellbeing in the Upper Volta Basin of West Africa. Our project has four components: (1) design of a spatially explicit regional-level social-ecological characterization; (2) construction of future scenario analyses for rainfed and irrigated production system interventions; (3) co-design and co-development of benefit sharing mechanisms at the reservoir catchment level and enhancing institutional capacity to implement these mechanisms through training, professional development and targeting tools; and (4) intervention decision analysis to identify benefits, costs and risks associated with decision options. We illustrate how this approach highlights different outcomes than standard cost-benefit analysis focused narrowly on the single project. Anticipated outcomes are development of ecosystem services-based methods for more equitably and sustainably evaluating development interventions and identifying management approaches to water-impoundment structures that promote a range of ecosystem services to provide food security to a broader

  16. Risks evaluation and mitigation in the new energetic markets

    International Nuclear Information System (INIS)

    Santos, Afonso Henriques Moreira; Vieira, Daniela Calazans; Krause, Gilson Galvao

    1999-01-01

    The central issue of debate was the need to align the energy sector's options and organization with changing global patterns of economic and social development, characterized by the increasing role played by the private sector, greater integration in the world economy, and new economic and social priorities such as efficiency, decentralization, deregulation, and a closer attention to environmental issues. The aim of the work was to evaluate the Brazilian electric power market risks and the their agents' relationship after the privatization advent

  17. Energetic and economic evaluations on hydrogen storage technologies

    Energy Technology Data Exchange (ETDEWEB)

    Arca, S.; Di Profio, P.; Germani, R. [Perugia Univ., Perugia (Italy). Centro di Eccellenza Materiali Innovativi Nanostrutturati, Dip. Chimica; Savelli, G.; Cotana, F.; Rossi, F.; Amantini, M. [Universita degli Studi di Perugia, Perugia (Italy). Dipartimento di Ingegneria Industriale, Sezione di Fisica Tecnica

    2008-07-01

    With the development of the hydrogen economy and fuel cell vehicles, a major technological issue has emerged regarding the storage and delivery of large amounts of hydrogen. Several hydrogen storage methodologies are available while other technologies are being developed aside from the classical compression and liquefaction of hydrogen. A novel technology is also in rapid process, which is based on clathrate hydrates of hydrogen. The features and performances of available storage systems were evaluated in an effort to determine the best technology throughout the hydrogen chain. For each of the storage solutions presented, the key parameters were compared. These key parameters included interaction energy between hydrogen and support; real and practical storage capacity; and specific energy consumption. The paper presented the study methods and discussed hydrogen storage technologies using compressed hydrogen; metal hydrides; liquefied hydrogen; carbon nanotubes; ammonia; and gas hydrates. Carbon dioxide emissions were also evaluated for each storage system analyzed. The paper also presented the worst scenario. It was concluded that a technology based on clathrate hydrates of hydrogen, while being far from optimized, was highly competitive with the classical approaches. 21 refs., 9 figs.

  18. EVALUATION CRITERIA OF INNOVATIVE SOCIAL INVESTMENT PROJECTS IN HEALTH CARE

    Directory of Open Access Journals (Sweden)

    Vadim Aleksandrovich Lomazov

    2013-11-01

    Full Text Available Purpose: analysis of key indicators and creation of evaluation criteria of innovative socio-economic investment projects in healthcare, implemented on the basis of public-private partnerships.Methodology: there has been performed comprehensive assessment of specialized socio-economic projects in health sector taking into consideration interests of participants in the project (public and private, main aspects (medical, social, economic, scientific and innovative, and assessment components (presumable effectiveness or risk during implementation of the project. The degree of relative importance of the factors considered in each level, and the levels themselves are determined by experts with the help of paired comparisons method. The values of the project indicators are estimated against nonuniform grading scale, both the results of direct measurements and expert information being used.Results: There has been suggested an approach and a procedure for evaluating projects based on the allocation of interests, issues and evaluation components of the project as sub-criteria levels of the hierarchy analysis method; there has been developed research prototype of information analysis system for assessment of projects on the basis of the proposed approach.DOI: http://dx.doi.org/10.12731/2218-7405-2013-8-48

  19. EVALUATION OF INVESTMENT ATTRACTIVENESS INDICATORS OF REGIONS IN UKRAINE

    Directory of Open Access Journals (Sweden)

    Vira Vartsaba

    2017-12-01

    Full Text Available The theoretical and methodological principles for assessing the investment attractiveness of the regions are the subject of the research. The aims of the research consist in improving the existing approach for measuring the level of investment attractiveness of territorial systems in the direction of taking into account the possible multicollinearity and determining the share of investment attractiveness factors in the aggregate indicator on the basis of calculated values of determination coefficients, which respectively provide to distinguish the priority directions in the formation of regional investment policy aimed at raising the level of investment attractiveness of regions of Ukraine. Methodology. The article deals with the research of theoretical and methodological approaches to the definition of investment attractiveness of Ukrainian regions by means of general scientific methods of analysis: systematization and generalization, induction, deduction. Results. To assess the investment climate in the regions of Ukraine, an improved existing approach for measuring the level of investment attractiveness of territorial systems is proposed in the direction of taking into account possible multicollinearity and determining the share of factors of investment attractiveness, which is based, in particular, on the selected indicators, in particular: the volume of direct foreign investments per capita (FORINV; per capita net exports (NETEXP; the number of economically active enterprises per 10 000 population (ENTRP; volumes of industrial production (PROM; population income (REV; volume of retail trade turnover per capita (TOV; volume of completed construction work (BUD. It is proved that the priority and intensity of influence on the indicator of investment into fixed capital per capita of factors of investment attractiveness varies for different regions of Ukraine, therefore, according to the conducted analysis, the investment attractiveness of the

  20. Energetic and financial evaluation of solar assisted heat pump space heating systems

    International Nuclear Information System (INIS)

    Bellos, Evangelos; Tzivanidis, Christos; Moschos, Konstantinos; Antonopoulos, Kimon A.

    2016-01-01

    Highlights: • Four solar heating systems are presented in this work. • Various combinations between solar collectors and heat pumps are presented. • The systems are compared energetically and financially. • The use of PV and an air source heat pump is the best choice financially. • The use of PVT with a water source heat pump is the best solution energetically. - Abstract: Using solar energy for space heating purposes consists an alternative way for substituting fossil fuel and grid electricity consumption. In this study, four solar assisted heat pump heating systems are designed, simulated and evaluated energetically and financially in order to determine the most attractive solution. The use of PV collectors with air source heat pump is compared to the use of FPC, PVT and FPC with PV coupled with a water source heat pump. A sensitivity analysis for the electricity cost is conducted because of the great variety of this parameter over the last years. The final results proved that for electricity cost up to 0.23 €/kW h the use of PV coupled with an air source heat pump is the most sustainable solution financially, while for higher electricity prices the coupling of PVT with an water source heat pump is the best choice. For the present electricity price of 0.2 €/kW h, 20 m"2 of PV is able to drive the air source heat pump with a yearly solar coverage of 67% leading to the most sustainable solution. Taking into account energetic aspects, the use of PVT leads to extremely low grid electricity consumption, fact that makes this technology the most environmental friendly.

  1. INTEGRATING ABC AND EVA TO EVALUATE INVESTMENT DECISIONS

    Directory of Open Access Journals (Sweden)

    N. Chiadamrong

    2017-12-01

    Full Text Available The significance of investment is transparent in the world of competitive business. Traditional costing systems in which their emphasizes are for short term savings rather than long term benefits have shown some lacking in providing accurate and reliable cost data for the investment decisions. Activity-based Costing (ABC, which is developed to satisfy some of the weaknesses of the traditional costing systems, can provide valuable insights into the operating processes and come up with more accurate cost data. In this paper, ABC is used to provide significant information for investment decisions. Although, the ABC method provides accurate operating product costs, it does not identify which products are economic valued added creators and so contribute to companies’ wealth. This drawback can be overcome by applying Economic Value Added (EVA. The adoption of ABC and EVA can represent a considerable change in the managerial thinking and to corporate strategies and business performance.

  2. MODERN RISK MEASURES FOR INDIVIDUAL HIGHER EDUCATION INVESTMENT RISK EVALUATION

    Directory of Open Access Journals (Sweden)

    Vona Mate

    2014-07-01

    Full Text Available One of the reasons why people get degree and participate in organized education is that they want to raise their human capital or signal their inner abilities to future employers by sorting themselves out. In both cases they can expect return to their investment, because they can expect higher life-time earnings than those who do not have degree. In this paper we will refer this activity as higher education investment or education investment. In this paper the investment of the state into educating their citizens will not be considered. The question of this paper will develop the findings of Vona (2014. I suggested to introduce modern risk measures because individual risk-taking became a serious question. It was considered that modern risk measures can help to solve some issues with the relation of investment and risk. However before applying some measures from a different field of science, namely investment finance and financial mathematics, to another, economics of education, there must be a very careful consideration, because there are debate over these measures applicability even on their field of science. Value at Risk is not coherent and Expected Shortfall is only one of a great deal of possible tail loss measures. For this reason it will be discussed in detail how should we should adopt the measures, what kind of data is necessary for calculating this risk measures and what kind of new insight they can bring. With the aid of a numerical example it will be shown that with expected shortfall measure we can reflect some large losses, and potential high value of diversification. We show the value at risk based measure is not coherent and this means it points out something different in this environment. It is can be an indicator of loss in opportunities for high end returns.

  3. NEW ASPECTS REGARDING THE EVALUATION OF INVESTMENTS IN CRITICAL INFRASTRUCTURE

    Directory of Open Access Journals (Sweden)

    Lupan Mariana

    2009-05-01

    Full Text Available The additional risks associated to the actual global and contagious crisis put a severe pressure on the investments in critical infrastructure and there is a real need for new valuations especially those regarding the synergic financing strategies in crit

  4. Application of scenario analysis in the investment projects evaluation

    Directory of Open Access Journals (Sweden)

    Brzaković Tomislav

    2016-01-01

    Full Text Available Investing represents an investment in the present to achieve certain effects in the future, and risk is an essential part of the investment process. Scenario analysis involves key risk factors of the project, its sensitivity to changes in key factors and the likelihood of their changes. Scenario analysis allows us to assign probabilities to the base case, the best case and the worst case so that we can find the expected value and standard deviation of the project's NPV to get a better idea of the project's risk. The goal is to determine whether it is possible to make relevant investment decisions on the basis of the parameters of projects risk, such as the standard deviation and the coefficient of variation. The paper is based on a mathematical model, applied to a specific agricultural company. In our case, the project has a wide range of possibilities and a large potential negative value, which suggests a great risk of the project. Although the scenario analysis shows a higher risk, it is not clear if the project should be accepted or not, and therefore, it is necessary to conduct simulation analysis, in order to get reliable answers.

  5. A Computer Program to Evaluate Timber Production Investments Under Uncertainty

    Science.gov (United States)

    Dennis L. Schweitzer

    1968-01-01

    A computer program has been written in Fortran IV to calculate probability distributions of present worths of investments in timber production. Inputs can include both point and probabilistic estimates of future costs, prices, and yields. Distributions of rates of return can also be constructed.

  6. 46 Evaluating Foreign Direct Investment and Africa's Development ...

    African Journals Online (AJOL)

    Africa to several factors discouraging foreign direct investment. Suggestions and ... in the economy of African states and what reasons account for such impacts. ..... information to second-guess market signals (prices) and because powerful interest ..... over 115 million people using cell phones in Nigeria, we do not have any ...

  7. Evaluation Of Democracy And Foreign Investment In Nigeria | Arinze ...

    African Journals Online (AJOL)

    This paper contends that a good indicator of confidence in the stability of Nigerian economy is the significant inflow of foreign direct investment. Foreign capital inflow to Nigeria in recent years has not been significant. The object of the paper is to examine how the current democracy contributed significantly to improvement in ...

  8. Evaluation of ICT investment in healthcare : Insights and agenda for future research

    NARCIS (Netherlands)

    Arviansyah, A.; Berghout, Egon; Tan, Chee-Wee; Castelnovo, W; Ferrari, E

    2011-01-01

    The recent downturn in global economy exerts mounting pressure on the justification of ICT budgets within organizations. Effective evaluation of ICT investments is therefore deterministic of organizations' ability to maximize the business value to be extracted from such investments. The same can be

  9. The Evaluation of Higher Education Expenditure Performance and Investment Mechanism Reform

    Science.gov (United States)

    Wang, De; Fu, Meiying

    2009-01-01

    Along with the reform of Chinese Government public finance, higher education belongs to the public product, gradually changes from "fund investment management" to the "expenditure performance management". The evaluation of expenditure performance system becomes the key point of higher education investment mechanism reform. This…

  10. 76 FR 43729 - Notice of Random Assignment Study To Evaluate Workforce Investment Act Adult and Dislocated...

    Science.gov (United States)

    2011-07-21

    ... prior employment and training service delivery systems. The recent recession, high unemployment rate and... Evaluate Workforce Investment Act Adult and Dislocated Worker Programs; Request for Comment AGENCY... estimates of the net impacts of intensive services and training provided under the Workforce Investment Act...

  11. Essays on oil: project evaluation and investment impact

    OpenAIRE

    Bagh, Dima

    2015-01-01

    This thesis was submitted for the award of Doctor of Philosophy and was awarded by Brunel University London This thesis contains three essays related to fixed investment and crude oil. The first essay examines the implications of building a cross-border oil infrastructure project within the context of the bargaining problem (the Nash bargaining solution, and the alternating offer bargain of Rubinstein). We examine the viability of the Baku-Tbilisi-Ceyhan oil pipeline project, which is empl...

  12. Improvement of methods of evaluation of investment projects in the context of import substitution

    Directory of Open Access Journals (Sweden)

    Kuvshinov M.S.

    2017-01-01

    Full Text Available Due to the imposition of sanctions, based more on geopolitical interests, there were additional essential restrictions on sources of external credits, use of import raw materials and technologies, possibilities of attraction to work of the qualified employees which do not have the Russian nationality, participation in the international technology and scientific projects. At similar restrictions of different resources investment decisions are made extremely carefully, and especially careful and reasonable efficiency evaluation of the investments is required. Traditionally used techniques of efficiency evaluation of investment projects not fully consider strategic interests of owners of industrial enterprises and investors. Decrease in risks requires higher quality of project evaluation. In this work the method of multi-level consistently complex integral assessment of investment projects on an indicator of the integral indicator of their efficiency implementing consecutive selection of investment projects from a portfolio on essential indicators of commercial effectiveness, efficiency of production business activities, a financial state and productivity of activity is provided. The developed method of a complex assessment of investment projects is implemented for practical application by the software product allowing to create on the basis of economic-mathematical modeling specific recommendations in economic practice of industrial enterprises during the developing and implementation of investment strategies. The conclusion that for the Russian economy in the conditions of import substitution accounting of all set of interests of investors and owners of the enterprises provides development and implementation of reasonable investment strategies is drawn.

  13. Evaluation of Representative Smart Grid Investment Project Technologies: Demand Response

    Energy Technology Data Exchange (ETDEWEB)

    Fuller, Jason C.; Prakash Kumar, Nirupama; Bonebrake, Christopher A.

    2012-02-14

    This document is one of a series of reports estimating the benefits of deploying technologies similar to those implemented on the Smart Grid Investment Grant (SGIG) projects. Four technical reports cover the various types of technologies deployed in the SGIG projects, distribution automation, demand response, energy storage, and renewables integration. A fifth report in the series examines the benefits of deploying these technologies on a national level. This technical report examines the impacts of a limited number of demand response technologies and implementations deployed in the SGIG projects.

  14. Benefit-cost analysis framework for evaluating inter-city transit investment.

    Science.gov (United States)

    2008-10-01

    This report describes the development and application of a benefit/cost analysis (BCA) model to support the evaluation of investment decisions for intercity bus services. The model recognizes two principle types of intercity bus benefits: benefits th...

  15. Evaluation of the energetics of copper-vacancy clusters in Fe

    Energy Technology Data Exchange (ETDEWEB)

    Morishita, Kazunori, E-mail: morishita@iae.kyoto-u.ac.jp; Nakasuji, Toshiki; Ruan, Xiaoyong

    2017-02-15

    Highlights: • Thermodynamics evaluation of the nucleation process of copper-vacancy clusters in Fe is performed. • Nucleation free energy of copper-vacancy clusters in Fe is formulated. • With this energetics, two different nucleation paths of clusters are found as a function of the damage rate. - Abstract: A theoretical study is conducted to evaluate the nucleation free energy of copper-vacancy clusters in Fe as a function of the numbers of copper atoms and of vacancies in a cluster. Using this free energy value, cluster nucleation processes during irradiation are investigated. The results clearly show that there are two different types of cluster nucleation paths on the free energy surface; one is the formation of empty voids by jumping over the ridge of the free energy surface, and the other corresponds to a path for the formation of copper clusters by going around the ridge. The dependence of easy nucleation paths on the damage rate is discussed.

  16. Real Option--A New Approach in the Evaluation of Telecom Investment Projects

    Institute of Scientific and Technical Information of China (English)

    WU Hong

    2005-01-01

    This paper gives a new method into the evaluating system of telecom investment projects, I.e. Real Option. This may overcome the defects resulted from employing Net Present Value (NPV), which is now used in the evaluation of telecom projects. A theoretical analysis of Real Option is provided, followed by an example of telecom investment project to illustrate the differences between the two methods.

  17. Energetic, exergetic and financial evaluation of a solar driven absorption chiller – A dynamic approach

    International Nuclear Information System (INIS)

    Bellos, Evangelos; Tzivanidis, Christos; Symeou, Christoforos; Antonopoulos, Kimon A.

    2017-01-01

    Highlights: • A solar cooling system with ETC and a single effect absorption chiller is analyzed. • The analysis is dynamic and it is made for the city of Athens, Greece. • The analysis is energetic, exergetic and financial for all the summer period. • Firstly the system is optimized exergetically and after it is analyzed financially. • The optimum case is 450 m"2 of solar collectors coupled with a storage tank of 14 m"3. - Abstract: In this study, a solar cooling system of 100 kW is analyzed parametrically in dynamic basis for the city of Athens, Greece. The objective of this study is the design of a sustainable system, using energetic, exergetic and financial criteria. The examined system includes evacuated tube collectors, storage tank and a single stage absorption chiller operating with LiBr-H_2O working pair. Different combinations of collecting areas and storage tank volumes are tested in order to determine the most suitable cases exergetically. These optimum cases are evaluated financially and finally the system with the higher financial indexes is selected as the most suitable. More specifically, the collecting area is analyzed from 150 m"2 to 600 m"2 and the storage tank from 6 m"3 to 16 m"3. Finally, 450 m"2 of evacuated tube collectors with a 14 m"3 storage tank was proved to be the optimum solution financially with 15 years payback period and 67 k€ net present value.

  18. Energetic evaluation of high pressure PEM electrolyzer systems for intermediate storage of renewable energies

    International Nuclear Information System (INIS)

    Bensmann, B.; Hanke-Rauschenbach, R.; Peña Arias, I.K.; Sundmacher, K.

    2013-01-01

    Three pathways for high pressure hydrogen production by means of water electrolysis are energetically compared. Besides the two classic paths, comprising either the pressurization of the product gas (path I) or the mechanical pressurization of the feed water (path II), a third path is discussed. It involves the electrochemical co-compression during the electrolysis. The energetic evaluation is based on a uniform model description of the different hydrogen production pathways. It consists of integral, steady-state balances for energy, entropy and mass as well as a modern equation of state. From this the reversible energy demand is used to identify the inherent thermodynamic drawbacks of the pathways. The additional consideration of irreversibilities allows for the determination of efficiency losses due to device specific characteristics. For hydrogen delivery pressures of up to 40 bar the classical pathways are out-performed by path III. Since the hydrogen is already produced at elevated pressure this eliminates the need for an energy consuming mechanical hydrogen compression and spares the additional energy demand due to the oxygen pressurization. However, with increasing pressure differences the hydrogen back-diffusion strongly decreases the Faradaic efficiency of the asymmetric electrolyzer that has to be compensated by an additional energy supply

  19. Energetic evaluation of indigenous tree and shrub species in Basilicata, Southern Italy

    Directory of Open Access Journals (Sweden)

    Todaro L

    2007-01-01

    Full Text Available An evaluation of energetic characteristics such as high calorific value (on ash-free dry weight basis, ash, carbon, nitrogen, and moisture content of 12 indigenous tree and shrub species of Southern Italy (Basilicata Region was carried out. The studied species are the most abundant in this area: Quercus cerris L., Quercus pubescens Willd., Fraxinus ornus L., Populus canescens (Aiton Smith, Salix alba L., Alnus cordata L., Robinia pseudoacacia L., Olea europaea L., Spartium junceum L., Rubus hirtus W., Onopordum illirium L., Arundo donax L. For Q. cerris, Q. pubescens and O. europaea L., the energetic characteristics were measured by separating the wood components from the leaves. Q. cerris leaves contained the greatest high calorific value. F. ornus leaves had a greater ash content than the other samples while the lowest values were measured for S. junceum, Q. pubescens and R. pseudoacacia. The highest content of Carbon was in O. europaea leaves. A. donax and O. illirium had the lower level of high calorific value and Carbon than all the other species. The highest Nitrogen content was measured in Q. cerris leaves and the lowest one in F. ornus wood components.

  20. Evaluation of multiplier effect of housing investments in the city economy

    Science.gov (United States)

    Ovsiannikova, T.; Rabtsevich, O.; Yugova, I.

    2017-01-01

    The given study presents evaluation of the role and significance of housing investments providing stable social and economic development of a city. It also justifies multiplier impact of investments in housing construction on all the sectors of urban economy. Growth of housing investments generates multiplier effect triggering the development of other different interrelated sectors. The paper suggests approach developed by the authors to evaluate the level of city development. It involves defining gross city product on the basis of integral criterion of gross value added of types of economic activities in the city economy. The algorithm of gross value added generation in urban economy is presented as a result of multiplier effect of housing investments. The evaluation of the mentioned effect was shown on the case of the city of Tomsk (Russia). The study has revealed that multiplier effect allows obtaining four rubles of added value out of one ruble of housing investments in the city economy. Methods used in the present study include the ones of the System of National Accounts, as well as methods of statistical and structural analysis. It has been proved that priority investment in housing construction is considered to be the key factor for stable social and economic development of the city. Developed approach is intended for justification of priority directions in municipal and regional investment policy. City and regional governing bodies and potential investors are the ones to apply the given approach.

  1. Evaluation of investment processes in agriculture in Poland in 2000-2011

    Directory of Open Access Journals (Sweden)

    Aleksander Grzelak

    2013-06-01

    Full Text Available The main aim of the article is evaluation of investment processes in agriculture in Poland in 2000-2011. Tendencies in range of investment activity after 2000 should by favourably estimate. Essential improvement in this area has happened especially after integration with the EU, in relationship to possibilities of funding investments by union funds. Also the enlargement of integration investment activity in agriculture has been noticed on background of tendency in total economy. In spite an increasing tendency in case of ability to invest in agriculture, its level was insufficient to set – back decapitalization of fixed assets in the whole agriculture. The situation would be positive if the tendency of growth degree of consumption of assets was stopped. On the other hand, awareness is necessary of the considerable differentiation in relation to investment activity with regard to the scale of production. It can be supposed, that started investment processes will bring to a part of agricultural farms multiplied effects which will actively use the investment support under the CAP instruments and preferential credits. It will intensify the processes of polarization in agriculture.

  2. A real options-based CCS investment evaluation model: Case study of China's power generation sector

    International Nuclear Information System (INIS)

    Zhu, Lei; Fan, Ying

    2011-01-01

    Highlights: → This paper establishes a carbon captures and storage (CCS) investment evaluation model. → The model is based on real options theory and solved by the Least Squares Monte Carlo (LSM) method. → China is taken as a case study to evaluate the effects of regulations on CCS investment. → The findings show that the current investment risk of CCS is high, climate policy having the greatest impact on CCS development. -- Abstract: This paper establishes a carbon capture and storage (CCS) investment evaluation model based on real options theory considering uncertainties from the existing thermal power generating cost, carbon price, thermal power with CCS generating cost, and investment in CCS technology deployment. The model aims to evaluate the value of the cost saving effect and amount of CO 2 emission reduction through investing in newly-built thermal power with CCS technology to replace existing thermal power in a given period from the perspective of power generation enterprises. The model is solved by the Least Squares Monte Carlo (LSM) method. Since the model could be used as a policy analysis tool, China is taken as a case study to evaluate the effects of regulations on CCS investment through scenario analysis. The findings show that the current investment risk of CCS is high, climate policy having the greatest impact on CCS development. Thus, there is an important trade off for policy makers between reducing greenhouse gas emissions and protecting the interests of power generation enterprises. The research presented would be useful for CCS technology evaluation and related policy-making.

  3. Energetic Systems

    Data.gov (United States)

    Federal Laboratory Consortium — The Energetic Systems Division provides full-spectrum energetic engineering services (project management, design, analysis, production support, in-service support,...

  4. Economic, Energetic, and Environmental Impact Evaluation of the Water Discharge Networks from Mining Works

    Directory of Open Access Journals (Sweden)

    Andrei Cristian Rada

    2018-01-01

    Full Text Available Sustainable development represents an optimistic scenario for the evolution of contemporary civilization. The object of this paper is to define certain evaluation criteria regarding the performances of water discharge networks from mining works, and propose a method for aggregating the specific indicators for monetary costs, energetic costs, and environmental impact-related costs. The global pollution index (GPI represents a method for assessing environment health status or pollution levels. The GPI quantitatively expresses this status based on its index, which results from a ratio between the ideal value and the given value of certain quality indices that are considered specific for the analyzed environmental factors at certain moments. The proposed method in this paper tries to perform a synergistic aggregation of the balance sheet of harmfulness and classic balance sheets for matter and energy for an industrial process.

  5. A real option-based simulation model to evaluate investments in pump storage plants

    International Nuclear Information System (INIS)

    Muche, Thomas

    2009-01-01

    Investments in pump storage plants are expected to grow especially due to their ability to store an excess of supply from wind power plants. In order to evaluate these investments correctly the peculiarities of pump storage plants and the characteristics of liberalized power markets have to be considered. The main characteristics of power markets are the strong power price volatility and the occurrence of prices spikes. In this article a valuation model is developed capturing these aspects using power price simulation, optimization of unit commitment and capital market theory. This valuation model is able to value a future price-based unit commitment planning that corresponds to future scope of actions also called real options. The resulting real option value for the pump storage plant is compared with the traditional net present value approach. Because this approach is not able to evaluate scope of actions correctly it results in strongly smaller investment values and forces wrong investment decisions.

  6. Economical aspects of nuclear energetics

    International Nuclear Information System (INIS)

    Celinski, Z.

    2000-01-01

    The economical aspects of nuclear power generation in respect to costs of conventional energetics have been discussed in detail. The costs and competitiveness of nuclear power have been considered on the base of worldwide trends taking into account investment and fuel costs as well as 'social' costs being result of impact of different types of energetics on environment, human health etc

  7. Several Methods for Evaluating the Investment Attractiveness of Small Innovation Enterprises

    Directory of Open Access Journals (Sweden)

    Ignatova Iuliia V.

    2017-04-01

    Full Text Available An important factor of impact on the development and living abilities of small and medium-sized innovation enterprises, including startups, is the opportunity to evaluate their investment attractiveness. The main reason for the «failure» of such enterprises is the lack of instrumentarium to forecast the potential number of their customers, and therefore their financial results. The article suggests the number of projected customers as an indicator for evaluation of the investment attractiveness of small innovation enterprises. The authors propose to use a number of mathematical models on the basis of the instrumentarium of descriptive statistics and simulation modeling. The proposed models are built on the basis of the hypothesis of normality of the distribution law of random amounts of income clients and allow forecasting with high accuracy in relation to the day of week, and therefore evaluating the investment risks for potential investors.

  8. Energetic, exergetic, economic and environmental evaluations of geothermal district heating systems: An application

    International Nuclear Information System (INIS)

    Keçebaş, Ali

    2013-01-01

    Highlights: ► Applying exergy, economic, environment and sustainability analyses to the GDHSs. ► Assessing energy and exergy efficiencies, economic and environmental impacts. ► Calculating the energy and exergy efficiencies of 34.86% and 48.78%, respectively. ► Proposing GDHSs as the most economic heating system. ► Providing a significant contribution towards reducing the emissions of air pollution. - Abstract: This study deals with an energetic and exergetic analysis as well as economic and environmental evaluations of Afyon geothermal district heating system (AGDHS) in Afyon, Turkey. In the analysis, actual system data are used to assess the district heating system performance, energy and exergy efficiencies, specific exergy index, exergetic improvement potential and exergy losses. And, for economic and environmental evaluations, actual data are obtained from the Technical Departments. The energy and exergy flow diagrams are clearly drawn to illustrate how much destructions/losses take place in addition to the inputs and outputs. For system performance analysis and improvement, both energy and exergy efficiencies of the overall AGDHS are determined to be 34.86% and 48.78%, respectively. The efficiency improvements in heat and power systems can help achieving energy security in an environmentally acceptable way by reducing the emissions that might otherwise occur. Present application has shown that in Turkey, geothermal energy is much cheaper than the other energy sources, like fossil fuels, and makes a significant contribution towards reducing the emissions of air pollution.

  9. Evaluation of Airborne Remote Sensing Techniques for Predicting the Distribution of Energetic Compounds on Impact Areas

    National Research Council Canada - National Science Library

    Graves, Mark R; Dove, Linda P; Jenkins, Thomas F; Bigl, Susan; Walsh, Marianne E; Hewitt, Alan D; Lambert, Dennis; Perron, Nancy; Ramsey, Charles; Gamey, Jeff; Beard, Les; Doll, William E; Magoun, Dale

    2007-01-01

    .... Remote sensing and geographic information system (GIS) technologies were utilized to assist in the development of enhanced sampling strategies to better predict the landscape-scale distribution of energetic compounds...

  10. Semi-continuous anaerobic digestion of extruded OFMSW: Process performance and energetics evaluation.

    Science.gov (United States)

    Mu, Lan; Zhang, Lei; Zhu, Kongyun; Ma, Jiao; Li, Aimin

    2018-01-01

    Recently, extrusion press treatment shows some promising advantages for effectively separating of organic fraction of municipal solid waste (OFMSW) from the mixed MSW, which is critical for their following high-efficiency treatment. In this study, an extruded OFMSW obtained from a demonstrated MSW treatment plant was characterized, and submitted to a series of semi-continuous anaerobic experiments to examine its biodegradability and process stability. The results indicated that the extruded OFMSW was a desirable substrate with a high biochemical methane potential (BMP), balanced nutrients and reliable stability. For increasing organic loading rates (OLRs), feeding higher volatile solid (VS) contents in feedstock was much better than shortening the hydraulic retention times (HRTs), while excessively high contents caused a low biodegradability due to the mass transfer limitation. For energetics evaluation, a high electricity output of 129.19-156.37kWh/ton raw MSW was obtained, which was further improved by co-digestion with food waste. Copyright © 2017 Elsevier Ltd. All rights reserved.

  11. Evaluation of Performance of Investment Funds Based on Decision Models (DEA

    Directory of Open Access Journals (Sweden)

    Alireza Samet

    2016-12-01

    Full Text Available Selection of a suitable investment funds is very important from investors' point of view and may have a significant impact on the profit or loss of the funds. Therefore, evaluation of performance of investment funds to choose the most suitable fund will be given special emphasis. One of the new techniques for evaluating the performance of the Funds based on efficiency is the Data Envelopment Analysis technique. Accordingly, the present study is aimed to analyze and evaluate the performance of investment Funds in capital market of Iran, using the technique of efficiency evaluation through data envelopment analysis technique (DEA. This research is a descriptive - applicable study and to analyze the efficiency and effectiveness, 53 investment funds in the capital market of Iran in 2013 were considered as the sample. To analyze the efficiency of these funds, data envelopment analysis (DEA is used. Research findings showed that in 2013, of a total of 53 examined funds, 11 funds were in the efficiency situation and the other 42 funds were in a state of inefficiency. Also the reference funds and virtual composited funds of all inefficient funds were evaluated.

  12. Evaluating the Investment Benefit of Multinational Enterprises' International Projects Based on Risk Adjustment: Evidence from China

    Science.gov (United States)

    Chen, Chong

    2016-01-01

    This study examines the international risks faced by multinational enterprises to understand their impact on the evaluation of investment projects. Moreover, it establishes a 'three-dimensional' theoretical framework of risk identification to analyse the composition of international risk indicators of multinational enterprises based on the theory…

  13. Advanced computing for evaluating facility needs and enhancing sustainable development of public facility investment plan

    CSIR Research Space (South Africa)

    Green, Cheri A

    2009-06-01

    Full Text Available hall investment for eThekwini municipality in South Africa is used to illustrate the methodology of matching supply and demand spatially across urban and rural areas. The GIS analysis ensures that the evaluation of backlogs and proposals for new...

  14. School Leadership Preparation and Development in Kenya: Evaluating Performance Impact and Return on Leadership Development Investment

    Science.gov (United States)

    Asuga, Gladys; Eacott, Scott; Scevak, Jill

    2015-01-01

    Purpose: The purpose of this paper is to evaluate the quality of the current provision for school leadership in Kenya, the extent to which they have an impact on student outcomes and the return on school leadership preparation and development investment. Design/Methodology/Approach: The paper draws from educational leadership, management and…

  15. EVALUATION OF THE IMPACT OF PUBLIC INVESTMENTS ON THE ENVIRONMENT ON THE EXAMPLE OF STADIUM IMPLEMENTATION

    Directory of Open Access Journals (Sweden)

    Elżbieta Hanna Szafranko

    2017-10-01

    Full Text Available Public purpose investments constitute a special group among the construction investments. They are generally large and their construction is conditioned by the needs of the local communities. The regulations impose the need to analyze variants of this type of investment and to take into account the solutions that cause the low environmental damage. The analyzed example is a specific object, mainly due to the presence of very large groups of people during sporting events. The analysis of the evaluation criteria should cover different location variants as well as design and construction solutions. The assessment of investment variants in this paper takes into account the specific function of the facility, and the criteria used in the analysis concern such phenomena as pollution and noise reduction, environmental impact, collisions with environmental elements, and the ability to safely park a large number of cars. Due to the large number of factors involved in the procedure, it is necessary to employ effective methods of supporting the decision-making processes. The article describes an example of evaluating variants using multicriteria analysis methods. The obtained results confirmed the usefulness of the proposed procedure.

  16. Conceptual and methodological approaches to evaluation of investment attractiveness of enterprises engaged in transportations

    Directory of Open Access Journals (Sweden)

    Olha Myshkovych

    2016-12-01

    Full Text Available The aim of the article is to analyze the conceptual and methodological approaches to determining the investment attractiveness of enterprises engaged in transportations. It is indicated that the investment attractiveness of transport enterprises should be determined by calculating of the overall financial situation of enterprises, which will allow potential investors to evaluate profitability and cost efficiency of its activity. An analysis of the strengths and weaknesses of the enterprise engaged in transportation can be accomplished by the evaluation of its innovative capacity. The identification of factors and reserves of the increasing of enterprise innovative development will allow distinguishing of the basic directions for the improvement of organizational and economic mechanism of its activity. With the aim of building the strategy for the strengthening of market position it is also considered important for the potential investor to obtain the information about enterprise place on the national and international markets. Political and legal environment, characterized by political stability of society and the regulatory framework of entrepreneurial and investment activity serve as a certain guarantee of the investment reliability.

  17. Evaluation of the indexes of income yield capacity of energetic projects

    International Nuclear Information System (INIS)

    Villanueva M, C.

    2008-01-01

    An economic-financial model to evaluate in the class living room those indexes of profitability of projects of productive infrastructure of the energy sector was developed, as for example: generation projects, transmission and electric energy distribution; projects of transport and distribution of natural gas; projects of cogeneration of vapor and electricity; projects of refinement of petroleum; and other industrial projects. It is described the structure and operation of the pattern, which has been implemented in an Excel calculation sheet that the students use in their personal computers to apply it to the evaluation of the indexes of profitability, specified by the Secretaria de Hacienda y Credito Publico (SHCP) in their limits for the elaboration and presentation of the cost and benefit analysis of the programs and projects of investment of the public sector. The indicators are: present net value VPN, quotient benefits cost B/C, return internal rate TIR, and equivalent annual cost CAE, which should be calculated with methodological rigor according to the SHCP lineaments. The pattern uses the pre-programmed financial functions in the Excel calculation sheet to carry out the compute of the indicators starting from the effective flow of the projects. It is described the technician-economic configuration and the effective flows during the useful life of three power stations of electric power generation that are designed, builds and operated to sell electric power to the national interconnected system in a nodal marginal prices market: a hydroelectric one, a combined cycle power station that uses natural gas, and a nucleo electric. The effective flows are developed and the central profitability of three centrals are evaluated and they are also carried out the corresponding sensitivity analyses and indifference required by the SHCP in their lineaments. Finally, the conditions in that the projects should operate and the prices in those that should sell their

  18. Energetic and economical evaluation of the geothermal water desalination by distillation; Evaluation energeco-economique du procede de dessalement de l'eau geothermale par distillation

    Energy Technology Data Exchange (ETDEWEB)

    Nasfi, N.; Hajji, N.; Benali, S.; Jeday, M.R. [Ecole Nationale d' Ingenieurs de Gabes, Lab. d' Energetique et d' Ingenierie, Gabes (Tunisia)

    2001-07-01

    This study is devoted to the energetic and economical performance of desalination units by geothermal water distillation, without and with vapor mechanical compression. The process and its block diagram are described. The obtained results allow the evaluation of the more economical process. (A.L.B.)

  19. A Framework for Evaluation of Safety and Generation Effect of Investment Considering Life Cycle Management in Nuclear Power Plants

    International Nuclear Information System (INIS)

    Yang, Hui Chang; Kim, Joon Hyun; Ahn, Nam Sung

    2006-01-01

    Along with the increasing pressure to enhance generation availability with low cost or investment, regulatory organization has been focused on the enhancement of safety in performance-based and risk informed regulation framework. Considering this, the most cost-beneficial solution should be found among the short-term and long-term investment plans. The objective of this research is to propose a generalized framework to evaluate safety and generation effect of investment plan for equipment in nuclear power plants

  20. Evaluating the Return in Ecosystem Services from Investment in Public Land Acquisitions

    Science.gov (United States)

    Kovacs, Kent; Polasky, Stephen; Nelson, Erik; Keeler, Bonnie L.; Pennington, Derric; Plantinga, Andrew J.; Taff, Steven J.

    2013-01-01

    We evaluate the return on investment (ROI) from public land conservation in the state of Minnesota, USA. We use a spatially-explicit modeling tool, the Integrated Valuation of Ecosystem Services and Tradeoffs (InVEST), to estimate how changes in land use and land cover (LULC), including public land acquisitions for conservation, influence the joint provision and value of multiple ecosystem services. We calculate the ROI of a public conservation acquisition as the ratio of the present value of ecosystem services generated by the conservation to the cost of the conservation. For the land scenarios analyzed, carbon sequestration services generated the greatest benefits followed by water quality improvements and recreation opportunities. We found ROI values ranged from 0.21 to 5.28 depending on assumptions about future land use change, service values, and discount rate. Our study suggests conservation is a good investment as long as investments are targeted to areas with low land costs and high service values. PMID:23776429

  1. Evaluating the return in ecosystem services from investment in public land acquisitions.

    Directory of Open Access Journals (Sweden)

    Kent Kovacs

    Full Text Available We evaluate the return on investment (ROI from public land conservation in the state of Minnesota, USA. We use a spatially-explicit modeling tool, the Integrated Valuation of Ecosystem Services and Tradeoffs (InVEST, to estimate how changes in land use and land cover (LULC, including public land acquisitions for conservation, influence the joint provision and value of multiple ecosystem services. We calculate the ROI of a public conservation acquisition as the ratio of the present value of ecosystem services generated by the conservation to the cost of the conservation. For the land scenarios analyzed, carbon sequestration services generated the greatest benefits followed by water quality improvements and recreation opportunities. We found ROI values ranged from 0.21 to 5.28 depending on assumptions about future land use change, service values, and discount rate. Our study suggests conservation is a good investment as long as investments are targeted to areas with low land costs and high service values.

  2. High-tech industries' overseas investment performance evaluation - Application of data envelopment analysis

    Directory of Open Access Journals (Sweden)

    Ridong Hu

    2013-12-01

    Full Text Available With the rapid change of the social environment, Mainland China has become a new economic market due to the great domestic demand caused by its enormous population and the increasing economic growth rate. Taiwanese businesses have gradually turned to develop in China under the pressure of increasing domestic wages and land costs for expanding factories as well as the enhancement of environmental protection. Mainland China presents the advantages of ample land, low labor costs, monoethnicity, and easy language communication making it an attractive major investment location for Taiwanese high-tech industries. Data Envelopment Analysis (DEA is applied to measure overseas investment efficiency evaluation of Taiwanese high-tech businesses in China, where the Delphi Method is used for selecting the inputs of the number of employees, R&D expenses, and gross sales in total assets. Sensitivity Analysis is further utilized for acquiring the most efficient unit and individual units with operating efficiency. The research results show that 1.Three high-tech businesses that present constant returns to scale perform optimally with overseas investment efficiency 2.Two high-tech companies with decreasing returns to scale appear that they could improve the overseas investment efficiency by decreasing the scale to enhancing the marginal returns, and 3.Sixteen high-tech enterprises reveal increasing returns to scale, showing that they could expand the scale to enhance the marginal returns and further promote efficiency.

  3. Ratio K: a New Way of Metering and Evaluating the Risk and Return of Stock Investment

    Institute of Scientific and Technical Information of China (English)

    朱淑珍; 朱静怡

    2003-01-01

    Although widely used, both the Markowitz model and VAR (Value at Risk) model have some limitations in evaluating the risk and return of stock investnent.By the analysis of the conceptions of risk and return,together with the three hypotheses of technological analysis, a novelty model of metering and evaluating the risk and return of stock investnent is established.The major indicator of this model , risk-return ratio K, combines the characteristic indicators of risk and return. Regardless of the form of the risk-return probability density functions, this indicator K can always reflect the risk-return performances of the invested stocks clearly and accurately. How to use the model to make optimum investment and how to make portfolio combined with clustering analysis is also explained.

  4. Two Stage Fuzzy Methodology to Evaluate the Credit Risks of Investment Projects

    OpenAIRE

    O. Badagadze; G. Sirbiladze; I. Khutsishvili

    2014-01-01

    The work proposes a decision support methodology for the credit risk minimization in selection of investment projects. The methodology provides two stages of projects’ evaluation. Preliminary selection of projects with minor credit risks is made using the Expertons Method. The second stage makes ranking of chosen projects using the Possibilistic Discrimination Analysis Method. The latter is a new modification of a well-known Method of Fuzzy Discrimination Analysis.

  5. Energetic and economic evaluation of solar thermal and photovoltaic cooling system in Cuban hotel

    International Nuclear Information System (INIS)

    Díaz Torres, Yamile; Valdivia Nodal, Yarelis; Castellanos Molina, Luis Miguel; Torres del Toro, Migdalia; Monteagudo Llanes, José

    2015-01-01

    The present paper discusses the energetic and economic feasibility of using two configurations of solar cooling in a Cuban Hotel. The air conditioning hybrid system schemes are: conventional system (Chiller) interconnected in parallel with a solar- powered absorption cooling system (SACS); and a photovoltaic cooling system (PCS). There were analyzed by methodologies and thermodynamic principles governing these technologies. The results show that their uses are alternatives for reducing energy consumption and environmental impact. (full text)

  6. CURRENT APPROACHES IN PERFORMANCE EVALUATION OF INVESTMENT FUND AND A PROPOSAL FOR TURKEY FOR THE PERIOD AFTER THE TEFAŞ PLATFORM

    Directory of Open Access Journals (Sweden)

    Fatih Temizel

    2016-01-01

    Investment Fund Industry, data sets and periods of the studies in Turkey and the world are analyzed. From those analysis we try to discover the advantages/disadvantages of different approaches. Thus, arecent performance evaluation of investment funds traded on Turkey will be recommended.

  7. Evaluation of depreciation costs in replacement investments of nuclear power plants

    International Nuclear Information System (INIS)

    Nakada, Shoji; Takashima, Ryuta; Nagano, Koji; Kimura, Hiroshi; Madarame, Haruki

    2010-01-01

    Replacement of nuclear power plants has the possibility of affecting the management of electric power suppliers. Therefore, in the nuclear policy, a depreciation method as an equalization method, which means that part of the investment cost is accumulated as an allowance, and after the start of operation, the depreciation cost in the replacement project is equalized, has been introduced in Japan. In this paper, we evaluate the replacement of nuclear power plants by taking into account the uncertainty of operating costs and the depreciation cost in order to examine the effect of the depreciation method on the decision criteria of the replacement.We found that the equalization method is elective for inducing the acceleration of the replacement. Furthermore, we show the relationship between the uncertainty and the depreciation method. It turns out that as uncertainty increases, the difference in investment threshold between the equalization method and the existing depreciation method decreases, and that in option value increases. (author)

  8. Evaluation of Mechanical Properties and Marginal Fit of Crowns Fabricated Using Commercially Pure Titanium and FUS-Invest

    Directory of Open Access Journals (Sweden)

    Jinshuang Wu

    2017-01-01

    Full Text Available This study investigated the mechanical properties and single crown accuracy of the tailor-made Fourth University Stomatology investment (FUS-invest for casting titanium. Background. Current investment for casting titanium is not optimal for obtaining high-quality castings, and the commercially available titanium investment is costly. Methods. Titanium specimens were cast using the tailor-made FUS-invest. The mechanical properties were tested using a universal testing machine. Fractured castings were characterized by energy-dispersive spectroscopy. 19 titanium crowns were produced using FUS-invest and another 19 by Symbion. The accuracy of crowns was evaluated. Results. The mechanical properties of the titanium cast by FUS-invest were elastic modulus 125.6 ± 8.8 GPa, yield strength 567.5 ± 11.1 MPa, tensile strength 671.2 ± 15.6 MPa, and elongation 4.6 ± 0.2%. For marginal fit, no significant difference (P>0.05 was found at four marker points of each group. For internal fit, no significant difference (P>0.05 was found between two groups, whereas significant difference (P<0.01 was found at different mark point of each group. Conclusions. The mechanical properties of titanium casted using FUS-invest fulfilled the ISO 9693 criteria. The marginal and internal fit of the titanium crowns using either the FUS-invest or Symbion were similar.

  9. Evaluation of implementation viability gap funding (VGF) policy on toll road investment in Indonesia

    Science.gov (United States)

    Mahani, Iris; Tamin, Rizal Z.; Pribadi, Krishna S.; Wibowo, Andreas

    2017-11-01

    VGF policy for toll road investment in Indonesia must be reviewed. Since 2012 the Government of Indonesia (GOI) has issued viability gap funding (VGF) policy for PPP infrastructure project through ministry of finance decision (PMK) No.223/2012. One of VGF purpose is to improve the financial feasibility. In the toll road investment in Indonesia, the implementation of this policy has some problems. This study aimed to evaluate the policy by seeking implementation constraints so can be given an alternative. This research was conducted qualitatively, included aspects of implementation process VGF policy. The analysis process is based on literature study and in-depth interviews to related parties include business entity, ministry of finance, and the ministry of public works, Indonesia Toll Road Authority (BPJT) and professional societies. The literature review conducted by reviewing existing policies and best practices in countries that already practice VGF. The conclusion of this study are 1) There is a conflict of regulation in viability gap funding (VGF) for toll road investment in Indonesia; 2) If Government of Indonesia (GOI) want implement construction grant as VGF, so the regulation must improve in time limited for submission and clearly define limited given in regulation; 3) If GOI want implement partial construction as VGF, so the regulation must be improve in guideline for submission and given.

  10. Comprehensive evaluation of power grid projects' investment benefits under the reform of transmission and distribution price

    Science.gov (United States)

    Wang, Yongli; Wang, Gang; Zuo, Yi; Fan, Lisha; Ling, Yunpeng

    2017-03-01

    On March 15, 2015, the Central Office issued the "Opinions on Further Deepening the Reform of Electric Power System" (Zhong Fa No. 9). This policy marks the central government officially opened a new round of electricity reform. As a programmatic document under the new situation to comprehensively promote the reform of the power system, No. 9 document will be approved as a separate transmission and distribution of electricity prices, which is the first task of promoting the reform of the power system. Grid tariff reform is not only the transmission and distribution price of a separate approval, more of the grid company input-output relationship and many other aspects of deep-level adjustments. Under the background of the reform of the transmission and distribution price, the main factors affecting the input-output relationship, such as the main business, electricity pricing, and investment approval, financial accounting and so on, have changed significantly. The paper designed the comprehensive evaluation index system of power grid projects' investment benefits under the reform of transmission and distribution price to improve the investment efficiency of power grid projects after the power reform in China.

  11. Environmental and social risk evaluation of overseas investment under the China-Pakistan Economic Corridor.

    Science.gov (United States)

    Zhang, Ruilian; Andam, Francis; Shi, Guoqing

    2017-06-01

    Along with the further implementation of the "One Belt, One Road" initiative and the promotion of the China-Pakistan Economic Corridor (CPEC), the construction of the CPEC will likely face challenges owing to differences between China and Pakistan in politics, economics, culture, religion, language, customs, environmental management systems, environmental protection laws, social management systems, and social management regulations. To address potential environmental and social risks associated with Chinese enterprises as they invest in the CPEC region, this paper examines previous studies addressing topics such as the environmental and social safeguards of international institutions and Pakistan's domestic environmental and social management requirements. We then systematically identify the environmental and social risk factors involved in CPEC construction, which cover risks regarding water, air, soil, noise, biodiversity, politics, economics, culture, technology, and individuals. By establishing and calculating these risks and using a multi-fuzzy comprehensive evaluation model, we found that noise and individual risks belong to a medium risk category, while others belong to a higher risk category. In view of these risks, the Chinese government must create a friendly and peaceful environment for Chinese enterprises to invest in the CPEC region, and Chinese enterprises must adopt a development strategy of strength and capacity building and establish enterprises capable of addressing environmental and social issues during the investment process. All stakeholders must understand that if no determined and diligent steps are taken, CPEC construction might be doomed for failure from the start.

  12. Comparative analysis of methodical approaches to evaluating the efficiency of investment projects in the power industry

    International Nuclear Information System (INIS)

    Tolstooukhov, D.A.; Karkhov, A.N.

    2001-01-01

    At present time, a transition is made to market mechanisms of economy functioning based on equilibrium price formation for products of enterprises and their self-financing. Based on long-term forecasts of economic development, electric power industry should not only ensure preservation of the accumulated potential but should also provide for modernization, reconstruction, service life extension of operating power facilities and construction of new ones. Under market conditions, nuclear power installations will have to prove their right to exist and develop in competition with other power technologies. In these conditions, the responsibility is growing for the correctness of investment decisions taken in the power industry and methods on which they are based. This paper analyzes currently used calculation methods for economic efficiency of investment projects. It emphasizes the limitations and drawbacks of the existing methodical approaches, and their inconsistency with market economy and scientific and technological progress (STP). The said drawbacks lead to serious mistakes in evaluating the prospects for the development of nuclear power. The paper describes a methodical approach based on equilibrium price formation that does not have the said drawbacks and may be used as the basis for further work on creation of improved calculation methods for the economic efficiency of investment projects in nuclear power. (authors)

  13. Evaluating the EU ETS impacts on profits, investments and prices of the Italian electricity market

    International Nuclear Information System (INIS)

    Bonenti, Francesca; Oggioni, Giorgia; Allevi, Elisabetta; Marangoni, Giacomo

    2013-01-01

    Climate change is a global issue, but actions to mitigate its development are regional. Europe has taken the leadership in the carbon emission policy by introducing the Emissions Trading Scheme (EU ETS), formerly regulated by Directive 2003/87/EC and since 2013 by Directive 2009/29/EC. This new Directive imposes a full auctioning system for allocating CO 2 allowances to the power sector and encourages the use of renewable energy sources. We investigate the economic impacts of the EU ETS on the Italian electricity market using a power generation expansion model. We adopt a technological representation of the energy market that also accounts for power exchanges with foreign countries and we assume that generators operate in different zones connected by interconnections with limited capacity. We study both an oligopolistic and a perfectly competitive behavior of Italian generators and we compare the corresponding outcomes under different EU ETS scenarios. Our analysis shows that, in perfect competition, generators generally invest more than in an oligopolistic framework, but in both market configurations, investments in Italy are mainly concentrated in fossil-fired plants, especially in 2020. This happens also when incentives are given to renewables. The developed models are implemented as complementarity problems and solved in GAMS using the PATH solver. - Highlights: • We evaluate the EU-ETS impacts on the Italian electricity market. • We model different EU-ETS scenarios and energy market organizations. • Generators can invest in new capacity. • Investments in CCGT plants are preferable to those in clean technologies. • Profits depend on market organization and on ETS allowance allocation policies

  14. Laser-shocked energetic materials with metal additives: evaluation of detonation performance

    Science.gov (United States)

    Gottfried, Jennifer; Bukowski, Eric

    A focused, nanosecond-pulsed laser with sufficient energy to exceed the breakdown threshold of a material generates a laser-induced plasma with high peak temperatures, pressures, and shock velocities. Depending on the laser parameters and material properties, nanograms to micrograms of material is ablated, atomized, ionized and excited in the laser-induced plasma. The subsequent shock wave expansion into the air above the sample has been monitored using high-speed schlieren imaging in a recently developed technique, laser-induced air shock from energetic materials (LASEM). The estimated detonation velocities using LASEM agree well with published experimental values. A comparison of the measured shock velocities for various energetic materials including RDX, DNTF, and LLM-172 doped with Al or B to the detonation velocities predicted by CHEETAH for inert or active metal participation demonstrates that LASEM has potential for predicting the early time participation of metal additives in detonation events. The LASEM results show that reducing the amount of hydrogen present in B formulations increases the resulting detonation velocities

  15. Evaluation on Optimal Scale of Rural Fixed-asset Investment-Based on Microcosmic Perspective of Farmers’ Income Increase

    Institute of Scientific and Technical Information of China (English)

    Jinqian; DENG; Kangkang; SHAN; Yan; ZHANG

    2014-01-01

    The rural fundamental and productive fixed-asset investment not only makes active influence on the changes of farmers’ operational,wages and property income,but it also has an optimal scale range for farmers’ income increase. From the perspective of farmers’ income increase,this article evaluates the optimal scale of rural fixed-asset investment by setting up model with statistic data,and the results show that the optimal scale of per capita rural fixed-asset investment is 76. 35% of per capita net income of rural residents,which has been reached in China in 2009. Therefore,compared with the adding of rural fixed-asset investment,a better income increase effect can be achieved through the adjustment of rural fixed-asset investment structure.

  16. Attenuated right ventricular energetics evaluated using {sup 11}C-acetate PET in patients with pulmonary hypertension

    Energy Technology Data Exchange (ETDEWEB)

    Yoshinaga, Keiichiro [Hokkaido University Graduate School of Medicine, Department of Molecular Imaging, Sapporo, Hokkaido (Japan); Ohira, Hiroshi; Tsujino, Ichizo; Sato, Takahiro; Nishimura, Masaharu [Hokkaido University Graduate School of Medicine, First Department of Medicine, Sapporo (Japan); Oyama-Manabe, Noriko [Hokkaido University Hospital, Diagnostic and Interventional Radiology, Sapporo (Japan); Mielniczuk, Lisa; Beanlands, Rob S.B. [Ottawa Heart Institute, Division of Cardiology, Ottawa, Ontario (Canada); Katoh, Chietsugu; Kasai, Katsuhiko [Hokkaido University Graduate School of Medicine, Faculty of Health Science, Sapporo (Japan); Manabe, Osamu; Tomiyama, Yuuki; Tamaki, Nagara [Hokkaido University Graduate School of Medicine, Department of Nuclear Medicine, Sapporo (Japan); Fujii, Satoshi [Nagoya City University Graduate School of Pharmaceutical Sciences, Nagoya (Japan); Ito, Yoichi M. [Hokkaido University Graduate School of Medicine, Department of Biostatistics, Sapporo (Japan)

    2014-06-15

    The right ventricle (RV) has a high capacity to adapt to pressure or volume overload before failing. However, the mechanisms of RV adaptation, in particular RV energetics, in patients with pulmonary hypertension (PH) are still not well understood. We aimed to evaluate RV energetics including RV oxidative metabolism, power and efficiency to adapt to increasing pressure overload in patients with PH using {sup 11}C-acetate PET. In this prospective study, 27 patients with WHO functional class II/III PH (mean pulmonary arterial pressure 39.8 ± 13.5 mmHg) and 9 healthy individuals underwent {sup 11}C-acetate PET. {sup 11}C-acetate PET was used to simultaneously measure oxidative metabolism (k{sub mono}) for the left ventricle (LV) and RV. LV and RV efficiency were also calculated. The RV ejection fraction in PH patients was lower than in controls (p = 0.0054). There was no statistically significant difference in LV k{sub mono} (p = 0.09). In contrast, PH patients showed higher RV k{sub mono} than did controls (0.050 ± 0.009 min{sup -1} vs. 0.030 ± 0.006 min{sup -1}, p < 0.0001). PH patients exhibited significantly increased RV power (p < 0.001) and hence increased RV efficiency compared to controls (0.40 ± 0.14 vs. 0.017 ± 0.12 mmHg.mL.min/g, p = 0.001). The RV oxidative metabolic rate was increased in patients with PH. Patients with WHO functional class II/III PH also had increased RV power and efficiency. These findings may indicate a myocardial energetics adaptation response to increasing pulmonary arterial pressure. (orig.)

  17. Evaluation of investment in biogás plant with energy ends

    International Nuclear Information System (INIS)

    Bericiarto Pérez, Frank Abel; Castro Perdomo, Nelson; López Bastida, Eduardo J.; Fuentes Díaz, Damarys

    2017-01-01

    In Cuba, given the characteristics of a developing country, the formulation and evaluation of projects is a critical task, since the decision to invest means sacrificing the opportunity to meet current needs for different and long-term alternatives. It is necessary to pay particular attention to the pre-project evaluation, as a crucial task that contributes to the project modifications. The evolutionary trends of the energy environment indicate that the increase in the contribution of renewable sources is a viable way to satisfy the global energy demand in an efficient and sustainable way. For this reason, the use of biogas has been potentiated as the most important fuel of the future, since the materials required for its processing and the construction of the necessary facilities are available to so many of the world's economies as of countries on the road developmental. (author)

  18. Evaluation of the energetic potential of sewage sludge by characterization of its organic composition.

    Science.gov (United States)

    Schaum, C; Lensch, D; Cornel, P

    2016-01-01

    The composition of sewage sludge and, thus, its energetic potential is influenced by wastewater and wastewater treatment processes. Higher or lower heating values (HHV or LHV) are decisive factors for the incineration/gasification/pyrolysis of sewage sludge. The HHV is analyzed with a bomb calorimeter and converted to the LHV. It is also possible to calculate the heating value via chemical oxygen demand (COD), total volatile solids (TVS), and elemental composition. Calculating the LHV via the COD provides a suitable method. In contrast, the correlation of the HHV or LHV with the TVS is limited. One prerequisite here is a constant specific energy density; this was given with the types of sewage sludge (primary, surplus/excess, and digested sludge) investigated. If the energy density is not comparable with sewage sludge, for instance with the co-substrate (bio-waste, grease, etc.), the estimation of the heating value using TVS will fail. When calculating the HHV or LHV via the elemental composition, one has to consider the validity of the coefficients of the calculation equation. Depending on the organic composition, it might be necessary to adjust the coefficients, e.g. when adding co-substrates.

  19. An Optimization Framework for Investment Evaluation of Complex Renewable Energy Systems

    Directory of Open Access Journals (Sweden)

    David Olave-Rojas

    2017-07-01

    Full Text Available Enhancing the role of renewable energies in existing power systems is one of the most crucial challenges that society faces today. However, the high variability of their generation potential and the temporal disparity between the demand and the generation potential represent technological and operational gaps that burden the massive incorporation of renewable sources into power systems. Energy storage technologies are an alternative to tackle this gap; nonetheless, their incorporation within large-scale power grids calls for decision-making tools that ensure an appropriate design and sizing of power systems that exploit the benefits of incorporating storage facilities along with renewable generation power. In this paper, we present an optimization framework for aiding the evaluation of the strategic design of complex renewable power systems. The developed tool relies on an optimization problem, the generation, transmission, storage energy location and sizing problem, which allows one to compute economically-attractive investment plans given by the location and sizing of generation and storage energy systems, along with the corresponding layout of transmission lines. Results on a real case study (located in the central region of Chile, characterized by carefully-curated data, show the potential of the developed tool for aiding long-term investment planning.

  20. Renewable Energy Investment in Emerging Markets: Evaluating Improvements to the Clean Development Mechanism

    Directory of Open Access Journals (Sweden)

    Amy Tang

    2014-06-01

    Full Text Available In the past, industrialized countries have invested in or financed numerous renewable energy projects in developing countries, primarily through the Clean Development Mechanism (CDM of the Kyoto Protocol. However, critics have pointed to its bureaucratic structure, problems with additionality and distorted credit prices as ill-equipped to streamline renewable energy investment. In this paper, we simulate the impact of policy on investment decisions on whether or not to invest in wind energy infrastructure in India, Brazil and China. Data from 2,578 past projects as well as literature on investor behaviour is used to inform the model structure and parameters. Our results show that the CDM acts differently in each country and reveal that while streamlining the approval process and reconsidering additionality can lead to non-trivial increase in total investment, stabilizing policy and decreasing investment risk will do the most to spur investment.

  1. Energetic map

    International Nuclear Information System (INIS)

    2012-01-01

    This report explains the energetic map of Uruguay as well as the different systems that delimits political frontiers in the region. The electrical system importance is due to the electricity, oil and derived , natural gas, potential study, biofuels, wind and solar energy

  2. Evaluating return on investment in a school based health promotion and prevention program: the investment multiplier for the Stephanie Alexander Kitchen Garden National Program.

    Science.gov (United States)

    Eckermann, Simon; Dawber, James; Yeatman, Heather; Quinsey, Karen; Morris, Darcy

    2014-08-01

    Successful health promotion and disease prevention strategies in complex community settings such as primary schools rely on acceptance and ownership across community networks. Assessing multiplier impacts from investment on related community activity over time are suggested as key alongside evidence of program health effects on targeted groups of individuals in gauging community network engagement and ownership, dynamic impacts, and program long term success and return on investment. An Australian primary school based health promotion and prevention strategy, the Stephanie Alexander Kitchen Garden National Program (SAKGNP), which has been providing garden and kitchen classes for year 3-6 students since 2008, was evaluated between 2011 and 2012. Returns on Australian Federal Government investment for school infrastructure grants up to $60,000 are assessed up to and beyond a two year mutual obligation period with: (i) Impacts on student lifestyle behaviours, food choices and eating habits surveyed across students (n = 491 versus 260) and parents (n = 300 versus 234) in 28 SAKGNP and 14 matched schools, controlling for school and parent level confounders and triangulated with SAKGNP pre-post analysis; (ii) Multiplier impacts of investment on related school and wider community activity up to two years; and (iii) Evidence of continuation and program evolution in schools observed beyond two years. SAKGNP schools showed improved student food choices (p = 0.024) and kitchen lifestyle behaviour (p = 0.019) domains compared to controls and in pre-post analysis where 20.0% (58/290) reported eating fruit and vegetables more often and 18.6% (54/290) preparing food at home more often. No significant differences were found in case control analysis for eating habits or garden lifestyle behaviour domains, although 32.3% of children helped more in the garden (91/278) and 15.6% (45/289) ate meals together more often in pre-post analysis. The multiplier impact on total

  3. Ex-post evaluation of Energy Investment Allowance (EIA); Ex-post evaluatie Energie Investeringsaftrek (EIA)

    Energy Technology Data Exchange (ETDEWEB)

    Aalbers, R.; Baarsma, B.; Berkhout, P.; Bremer, S.; Gerritsen, M.; De Nooij, M. [SEO Economisch Onderzoek, Amsterdam (Netherlands)

    2007-07-15

    In the framework of the VBTB ('Van Beleidsbegroting tot Beleidsverantwoording', or 'From budget to balance sheet') the EIA (Energy Investment Allowance) has been evaluated for the period 2001-2005. Attention has been paid to its relevancy and the (cost) effectiveness. [Dutch] In de context van de VBTB ('Van Beleidsbegroting tot Beleidsverantwoording', or 'From budget to balance sheet') is onderzocht of de EIA in de periode 2001 tot en met 2005 goed heeft gefunctioneerd. Daarbij is gekeken naar de relevantie van de EIA, de effectiviteit en kosteneffectiviteit van de EIA en is een evaluatie van de uitvoering gemaakt.

  4. An empirical evaluation of landscape energetic models: Mallard and American black duck space use during the non-breeding period

    Science.gov (United States)

    Beatty, William S.; Webb, Elisabeth B.; Kesler, Dylan C.; Naylor, Luke W.; Raedeke, Andrew H.; Humburg, Dale D.; Coluccy, John M.; Soulliere, G.

    2015-01-01

    Bird conservation Joint Ventures are collaborative partnerships between public agencies and private organizations that facilitate habitat management to support waterfowl and other bird populations. A subset of Joint Ventures has developed energetic carrying capacity models (ECCs) to translate regional waterfowl population goals into habitat objectives during the non-breeding period. Energetic carrying capacity models consider food biomass, metabolism, and available habitat to estimate waterfowl carrying capacity within an area. To evaluate Joint Venture ECCs in the context of waterfowl space use, we monitored 33 female mallards (Anas platyrhynchos) and 55 female American black ducks (A. rubripes) using global positioning system satellite telemetry in the central and eastern United States. To quantify space use, we measured first-passage time (FPT: time required for an individual to transit across a circle of a given radius) at biologically relevant spatial scales for mallards (3.46 km) and American black ducks (2.30 km) during the non-breeding period, which included autumn migration, winter, and spring migration. We developed a series of models to predict FPT using Joint Venture ECCs and compared them to a biological null model that quantified habitat composition and a statistical null model, which included intercept and random terms. Energetic carrying capacity models predicted mallard space use more efficiently during autumn and spring migrations, but the statistical null was the top model for winter. For American black ducks, ECCs did not improve predictions of space use; the biological null was top ranked for winter and the statistical null was top ranked for spring migration. Thus, ECCs provided limited insight into predicting waterfowl space use during the non-breeding season. Refined estimates of spatial and temporal variation in food abundance, habitat conditions, and anthropogenic disturbance will likely improve ECCs and benefit conservation planners

  5. Estimating the Accuracy of the Return on Investment (ROI Performance Evaluations

    Directory of Open Access Journals (Sweden)

    Alexei Botchkarev

    2015-12-01

    Full Text Available Return on Investment (ROI is one of the most popular performance measurement and evaluation metrics. ROI analysis (when applied correctly is a powerful tool in comparing solutions and making informed decisions on the acquisitions of information systems. The purpose of this study is to provide a systematic research of the accuracy of the ROI evaluations in the context of information systems implementations. Measurements theory and error analysis, specifically propagation of uncertainties methods, were used to derive analytical expressions for ROI errors. Monte Carlo simulation methodology was used to design and deliver a quantitative experiment to model costs and returns estimating errors and calculate ROI accuracies. Spreadsheet simulation (Microsoft Excel spreadsheets enhanced with Visual Basic for Applications was used to implement Monte Carlo simulations. The main contribution of the study is that this is the first systematic effort to evaluate ROI accuracy. Analytical expressions have been derived for estimating errors of the ROI evaluations. Results of the Monte Carlo simulation will help practitioners in making informed decisions based on explicitly stated factors influencing the ROI uncertainties.

  6. THE PROBLEMS IN THE EVALUATION THE RISKS ON INVESTMENTS OF INNOVATION PROCESS OF REPUBLIC OF MOLDOVA

    Directory of Open Access Journals (Sweden)

    Anatol Rotaru

    2012-12-01

    Full Text Available An innovative activity in the economy is the most important element of economic growth. This article is dedicated to research of the role of investment risk and implements innovations. It is well known that the interdependence between risk and profit, but there is a strong interrelationship between the risk of investment and innovative development of the country. In this article, the most important features of innovation for economic growth, as well as the direction of its investment, both from the government and from foreign investors and the private individuals are discussed. Based on this purpose have been characterized elements of investment risk has been made an investment risk analysis, innovation process and performance indicators. In that article presents a vision of innovation and investment activity in Moldova.

  7. Application of Decision Analysis to Evaluate Alternative Research and Development Investments

    National Research Council Canada - National Science Library

    Artelli, Michael

    1998-01-01

    .... In contrast to the current ad hoc approach, decision analysis provides an explicit and easily explained rationale for investment choices, complete and consistent incorporation of multiple objectives...

  8. Flare energetics

    Science.gov (United States)

    Wu, S. T.; Dejager, C.; Dennis, B. R.; Hudson, H. S.; Simnett, G. M.; Strong, K. T.; Bentley, R. D.; Bornmann, P. L.; Bruner, M. E.; Cargill, P. J.

    1986-01-01

    In this investigation of flare energetics, researchers sought to establish a comprehensive and self-consistent picture of the sources and transport of energy within a flare. To achieve this goal, they chose five flares in 1980 that were well observed with instruments on the Solar Maximum Mission, and with other space-borne and ground-based instruments. The events were chosen to represent various types of flares. Details of the observations available for them and the corresponding physical parameters derived from these data are presented. The flares were studied from two perspectives, the impulsive and gradual phases, and then the results were compared to obtain the overall picture of the energics of these flares. The role that modeling can play in estimating the total energy of a flare when the observationally determined parameters are used as the input to a numerical model is discussed. Finally, a critique of the current understanding of flare energetics and the methods used to determine various energetics terms is outlined, and possible future directions of research in this area are suggested.

  9. THE EVALUATION SYSTEM OF DESIGN SOLUTIONS FOR RESIDENTIAL PROPERTY ON THE PRE-INVESTMENT STAGE THROUGH NEURAL NETWORK TECHNOLOGY

    Directory of Open Access Journals (Sweden)

    G. D. Kostsikava

    2016-01-01

    Full Text Available Ever since the Soviet Union design solutions were evaluated according to different criteria and indicators. At the present stage of evaluation systems of design solutions stands systemengineering doctrine is allocated. It is complemented by the theory of efficiency and financial sustainability investment project in view of the general market concept. Also great attention is paid to the virtual object modeling. It is urgent to include the behavior prediction of an investment construction project model at each stage of its life cycle. The high cost of all phases of this life cycle makes it necessary to calculate the feasibility of the investment. Very urgent to do it as accurately as possible and before we start of design works on the stage of the investment plan evaluation. Belarus has legislated pre-investment stage of construction project development. To evaluate the design solution at this stage is necessary to develop an investment justification, a project management plan and a business plan. They will evaluate and will compare several options for future objects by the complex. This requires not only time, but considerable financial costs. In order to optimize the process to develop an evaluation system design solutions based on existing projects. It allows the customer (investor choose design solutions to build the object without developing of pre-design documentations for several options. This system it is advisable to try out the example of apartment house building with the assistance of the national fund of project documentation and objects-analogues data bank. The developed evaluation system of design solutions for residential real estate objects in the pre-investment stage is supposed to use the theory of neural networks and neyroprogramming. This system bases on the input parameters projects. The hidden layer neurons are trained to choose suitable projects of apartment houses with their classification. The projects will be classified

  10. The energetics of electric organ discharge generation in gymnotiform weakly electric fish.

    Science.gov (United States)

    Salazar, Vielka L; Krahe, Rüdiger; Lewis, John E

    2013-07-01

    Gymnotiform weakly electric fish produce an electric signal to sense their environment and communicate with conspecifics. Although the generation of such relatively large electric signals over an entire lifetime is expected to be energetically costly, supporting evidence to date is equivocal. In this article, we first provide a theoretical analysis of the energy budget underlying signal production. Our analysis suggests that wave-type and pulse-type species invest a similar fraction of metabolic resources into electric signal generation, supporting previous evidence of a trade-off between signal amplitude and frequency. We then consider a comparative and evolutionary framework in which to interpret and guide future studies. We suggest that species differences in signal generation and plasticity, when considered in an energetics context, will not only help to evaluate the role of energetic constraints in the evolution of signal diversity but also lead to important general insights into the energetics of bioelectric signal generation.

  11. Investment Evaluation of Higher Education through Cost-Benefit Analysis: Evidence from Adrar University-Algeria

    Science.gov (United States)

    Hocine, Benlaria; Sofiane, Mostéfaoui

    2017-01-01

    This study aims to measure the social and individual rates of return for investment in higher education at Adrar University. The approach adopted looks for investigating the costs and benefits of the human capital. The study found that the economic feasibility of investment in higher education exists at both the individual and social levels, where…

  12. Avaliação de Risco em Investimentos Florestais Evaluation of Risk in Investments Forestry

    Directory of Open Access Journals (Sweden)

    Flávio José Simioni

    2011-03-01

    Full Text Available

    A avaliação econômica de projetos de investimentos é comumente utilizada como forma de buscar parâmetros indicativos de sua viabilidade. Entretanto, as condições de incertezas em relação ao ambiente econômico dificultam o processo de tomada de decisão. No caso dos plantios florestais, a complexidade é ainda maior em função do alto tempo de retorno do investimento. Uma das alternativas que pode ser utilizada pelos investidores é a transformação das incertezas em risco. Assim, o objetivo do artigo é verificar a adequação do emprego do Método de Monte Carlo (MMC na avaliação do risco em plantios florestais de Pinus spp. O procedimento consiste na simulação da Taxa Interna de Retorno (TIR e do Valor Presente Líquido (VPL do projeto, a partir da simulação de variáveis previamente selecionadas no fluxo de caixa. O método mostrou-se eficiente na análise de risco de plantios florestais. 
    Economic evaluation of investment projects of is usually used as a form to search for parameters that are indicative of its viability. However, a condition of uncertainty in relation to the economic environment makes it difficult in order to help the process of decision making. In the case of the forest activities, the complexity is still bigger in function of the long time required for the return of the investment. One of the alternatives that can be used by the investors is the transformation of uncertainty into risk. Thus, the objective of the article is to verify the adequacy of the Monte Carlo Method (MMC in the risk evaluation of in forest activities with Pinus spp. The procedure  consists of the simulation of the Internal Tax of Return (ITR and of Net Present Value (NPV of the project, from the simulation of variables previously selected in the cash flow. The method revealed efficient in the risk analysis of forest activities. 

  13. Body-Image Evaluation and Body-Image Investment among Adolescents: A Test of Sociocultural and Social Comparison Theories

    Science.gov (United States)

    Morrison, Todd G.; Kalin, Rudolf; Morrison, Melanie A.

    2004-01-01

    Sociocultural theory and social comparison theory were used to account for variations in body-image evaluation and body-image investment among male and female adolescents (N = 1,543). Exposure to magazines and television programs containing idealistic body imagery as well as frequency of self-comparison to universalistic targets (e.g., fashion…

  14. Evaluation and comparison of return of investment for proposed use of solar systems in the Czech and Slovak Republic

    Directory of Open Access Journals (Sweden)

    E. Weiss

    2012-07-01

    Full Text Available The aim of the paper is to evaluate return of investment (ROI and cost savings from proposed use of solar systems for residents funded by government grants. The paper deals with proposals for solar energy systems for various use, simple calculations of payback periods of solar systems financed with subsidy and without subsidy. Apart from climatic conditions, chemical composition the of the absorber and structural elements that are made of copper, respectively aluminum and Al-Mg alloy play an important role in assessing the payback period of the investment in solar panels.

  15. A multi-criteria decision-making model for evaluating priorities for foreign direct investment

    Directory of Open Access Journals (Sweden)

    Korhan K. Gokmenoglu

    2015-10-01

    Full Text Available The objective of this study is to evaluate the relative priority of nine developed countries as a home country for foreign direct investment (FDI from the vantage point of the United States during three time periods: pre-crisis (2004-2006, crisis (2007-2009, and post-crisis (2010-2012. Our study suggests a methodology based on a combination of the analytic hierarchy process (AHP, the technique for order preference by similarity to ideal solution (TOPSIS, and the multi-period multi-attribute decision-making (MP-MADM technique. To investigate our research question, we selected fifteen robust FDI determinants from recent studies. The results for all three time periods show that productivity, market potential, market size, GDP growth and development have the highest priority in the decision-making process. On the other hand, we found that the 2007 global financial crisis significantly affected each variable in the decision-making process. During the crisis, two variables in particular - corruption and GDP growth - significantly increased in importance. These findings have far-reaching policy implications and can assist policymakers and investors in their strategic decision-making process.

  16. Evaluation of the effects of low energetic microwave irradiation on anaerobic digestion.

    Science.gov (United States)

    Bastiaens, Bert; Van den Broeck, Rob; Appels, Lise; Dewil, Raf

    2017-11-01

    The present study investigates the effects of microwave irradiation on the performance of anaerobic digestion processes. A first set of experiments is performed to distinguish the upper limit of the applied energy levels. Secondly, the effects of these treatments on the performance of the digestion process are evaluated in 3 experimental setups: (i) monitoring the acetic acid degradation, (ii) performing a biological methane potential (BMP) assay and (iii) conducting a specific methanogenic activity (SMA) test. The solubilisation experiment reveals a limited degree of disintegration of anaerobic biomass up to a microwave treatment of 10000 kJ/kg TS. Above this threshold value the soluble COD level started to rise, with up to 350% at 30000 kJ/kg TS regardless of the microwave output power. Because solubilisation of the biomass increases the easily degradable content, this would lead to false observations regarding increased activity. Therefore, solubilisation is minimized by limiting the microwave treatment to a maximum of 6000 kJ/kg TS during the second part of the experiments. Monitoring the degradation of acetic acid after a low intensity microwave treatment, reveals that microwave irradiation shortens the lag phase, e.g., from 21 to 3 h after a microwave treatment of 1000 kJ/kg TS at 100 W. However most treatments also result in a decrease of the maximum degradation and of the degradation rate of acetic acid. BMP assays are performed to evaluate the activity and performance of the entire anaerobic community. Every treatment results in a decreased biogas production potential and decreased biogas production rate. Moreover, each treatment induced an increase of the lag phase. The SMA experiments show no influence of the microwave irradiation in terms of biogas or methane production. Copyright © 2017 Elsevier Ltd. All rights reserved.

  17. Using price data to consider risk in the evaluation of forest management investments.

    Science.gov (United States)

    David C. Baumgartner; Carol A. Hyldahl

    1991-01-01

    Shows how existing information on the historic prices of various timber species and products can be used to provide a measure of the market risk, return, and efficient portfolios of alternative forestry investments using examples from three Midwestern states.

  18. A CBO Paper: Evaluating and Accounting for Federal Investment in Corporate Stocks and Other Private Securities

    National Research Council Canada - National Science Library

    2003-01-01

    .... This Congressional Budget Office (CBO) paper prepared at the request of Senator Pete V. Domenici, in his capacity as Chairman of the Senate Budget Committee-discusses the key effects of such investment on the U.S...

  19. Evaluating the investment decision-making process for business expansion into Africa: A case study

    Directory of Open Access Journals (Sweden)

    Jason Kasozi

    2012-12-01

    Full Text Available Africa is a potential domain for international business. However, numerous uncertainties characterize this environment and the challenge for multinationals remains the ability to assess the true value of an Africa-bound investment project. A telecommunications’ survey was conducted on Siemens Southern Africa (Siemens and Mobile Telecommunications’ Network (MTN and the following observations were made: (1 Approaches used by the businesses to value Africa-bound investments were not comprehensive and inclusive. (2 Neutrality existed to the suggestion that Africa is unique and that investment decisions should be customized to suit it. (3 Certain approaches used by the businesses were modified to suit pertaining investment circumstances thereby differing from literature, and (4, participants desired to learn new ways of improving this process suggesting dissatisfaction with the current norm. This paper presents the conflicting ideologies about the decision-making process for business expansion into Africa and suggests ways of improving the process

  20. Retrospective Benefit-Cost Evaluation of DOE Investment in Photovoltaic Energy Systems

    Energy Technology Data Exchange (ETDEWEB)

    O' Connor, Alan C. [RTI International, Research Triangle Park, NC (United States); Loomis, Ross J. [RTI International, Research Triangle Park, NC (United States); Braun, Fern M. [RTI International, Research Triangle Park, NC (United States)

    2010-08-01

    This study is a retrospective analysis of net benefits accruing from DOE's investment in photovoltaic (PV) technology development. The study employed a technology cluster approach. That is, benefits measured for a subset of technologies in a meaningful cluster, or portfolio, of technologies were compared to the total investment in the cluster to provide a lower bound measure of return for the entire cluster.

  1. RUSSIAN “PYRAMID” AS A TOOL TO EVALUATE SOCIAL INVESTMENTS

    OpenAIRE

    Votchenko, E.S.

    2016-01-01

    The purpose of this research is to analyze the modern trends and today’s development stage of social investments and corporate social responsibility (CSR) in Russia. The core of the corporate interactions are social investments that are formed around the image and reputation of a modern business. It means for the Russian business community the extension of the ranges of tools and responses to calls by the authorities and society, provides a unique opportunity to build partnerships with the eq...

  2. Trigeneration in food retail: An energetic, economic and environmental evaluation for a supermarket application

    International Nuclear Information System (INIS)

    Sugiartha, N.; Tassou, S.A.; Chaer, I.; Marriott, D.

    2009-01-01

    This paper presents results on the evaluation of energy utilisation efficiency and economic and environmental performance of a micro-gas turbine (MGT) based trigeneration system for supermarket applications. A spreadsheet energy model has been developed for the analysis of trigeneration systems and a 2800 m 2 sales area supermarket was selected for the feasibility study. Historical energy demand data were used for the analysis, which considered factors such as the fraction of the heat output used to drive the absorption chillers, the chiller COP and the difference between electricity and gas prices. The results showed that energy and environmental benefits can be obtained from the application of trigeneration systems to supermarkets compared to conventional systems. The payback period of natural gas driven trigeneration systems and greenhouse gas emissions savings will depend on the relative gas and electricity prices and the COP of the vapour compression and absorption systems. It was also shown that operation at full electrical output gives a better performance than a heat load-following strategy due to the reduction of the electrical generation efficiency of the MGT unit at part load conditions.

  3. Model of global evaluation for energetic resources; Modelo de avaliacao global de recursos energeticos

    Energy Technology Data Exchange (ETDEWEB)

    Fujii, Ricardo Junqueira; Udaeta, Miguel Edgar Morales; Galvao, Luiz Claudio Ribeiro [Universidade de Sao Paulo (USP), SP (Brazil). Dept. de Energia e Automacao Eletricas. Grupo de Energia]. E-mail: ricardo_fujii@pea.usp.br; daeta@pea.usp.br; lcgalvao@pea.usp.br

    2006-07-01

    The traditional energy planning usually takes into account the technical economical costs, considered alongside environmental and a few political restraints; however, there is a lack of methods to evenly assess environmental, economical, social and political costs. This work tries to change such scenario by elaborating a model to characterize an energy resource in all four dimensions - environmental, political, social and economical - in an integrated view. The model aims at two objectives: provide a method to assess the global cost of the energy resource and estimate its potential considering the limitations provided by these dimensions. To minimize the complexity of the integration process, the model strongly recommends the use of the Full Cost Accounting - FCA - method to assess the costs and benefits from any given resource. The FCA allows considering quantitative and qualitative costs, reducing the need of quantitative data, which are limited in some cases. The model has been applied in the characterization of the region of Aracatuba, located in the west part of the state of Sao Paulo - Brazil. The results showed that the potential of renewable sources are promising, especially when the global costs are considered. Some resources, in spite of being economically attractive, don't provide an acceptable global cost. It became clear that the model is a valuable tool when the conventional tools fail to address many issues, especially the need of an integrated view on the planning process; the results from this model can be applied in a portfolio selection method to evaluate the best options for a power system expansion. It has to be noticed that the usefulness of this model can be increased when adopted with a method to analyze demand side management measures, thus offering a complete set of possible choices of energy options for the decision maker. (author)

  4. Investment in different sized SMRs: Economic evaluation of stochastic scenarios by INCAS code

    Energy Technology Data Exchange (ETDEWEB)

    Barenghi, S.; Boarin, S.; Ricotti, M. E. [Politecnico di Milano, Dept. of Energy, CeSNEF-Nuclear Engineering Div., via La Masa 34, 20156 Milano (Italy)

    2012-07-01

    Small Modular LWR concepts are being developed and proposed to investors worldwide. They capitalize on operating track record of GEN II LWR, while introducing innovative design enhancements allowed by smaller size and additional benefits from the higher degree of modularization and from deployment of multiple units on the same site. (i.e. 'Economy of Multiple' paradigm) Nevertheless Small Modular Reactors pay for a dis-economy of scale that represents a relevant penalty on a capital intensive investment. Investors in the nuclear power generation industry face a very high financial risk, due to high capital commitment and exceptionally long pay-back time. Investment risk arise from uncertainty that affects scenario conditions over such a long time horizon. Risk aversion is increased by current adverse conditions of financial markets and general economic downturn, as is the case nowadays. This work investigates both the investment profitability and risk of alternative investments in a single Large Reactor or in multiple SMR of different sizes drawing information from project's Internal Rate of Return stochastic distribution. multiple SMR deployment on a single site with total power installed, equivalent to a single LR. Uncertain scenario conditions and stochastic input assumptions are included in the analysis, representing investment uncertainty and risk. Results show that, despite the combination of much larger number of stochastic variables in SMR fleets, uncertainty of project profitability is not increased, as compared to LR: SMR have features able to smooth IRR variance and control investment risk. Despite dis-economy of scale, SMR represent a limited capital commitment and a scalable investment option that meet investors' interest, even in developed and mature markets, that are traditional marketplace for LR. (authors)

  5. Investment in different sized SMRs: Economic evaluation of stochastic scenarios by INCAS code

    International Nuclear Information System (INIS)

    Barenghi, S.; Boarin, S.; Ricotti, M. E.

    2012-01-01

    Small Modular LWR concepts are being developed and proposed to investors worldwide. They capitalize on operating track record of GEN II LWR, while introducing innovative design enhancements allowed by smaller size and additional benefits from the higher degree of modularization and from deployment of multiple units on the same site. (i.e. 'Economy of Multiple' paradigm) Nevertheless Small Modular Reactors pay for a dis-economy of scale that represents a relevant penalty on a capital intensive investment. Investors in the nuclear power generation industry face a very high financial risk, due to high capital commitment and exceptionally long pay-back time. Investment risk arise from uncertainty that affects scenario conditions over such a long time horizon. Risk aversion is increased by current adverse conditions of financial markets and general economic downturn, as is the case nowadays. This work investigates both the investment profitability and risk of alternative investments in a single Large Reactor or in multiple SMR of different sizes drawing information from project's Internal Rate of Return stochastic distribution. multiple SMR deployment on a single site with total power installed, equivalent to a single LR. Uncertain scenario conditions and stochastic input assumptions are included in the analysis, representing investment uncertainty and risk. Results show that, despite the combination of much larger number of stochastic variables in SMR fleets, uncertainty of project profitability is not increased, as compared to LR: SMR have features able to smooth IRR variance and control investment risk. Despite dis-economy of scale, SMR represent a limited capital commitment and a scalable investment option that meet investors' interest, even in developed and mature markets, that are traditional marketplace for LR. (authors)

  6. Investment risk evaluation techniques: use in energy-intensive industries and implications for ERDA's Industrial Conservation Program

    Energy Technology Data Exchange (ETDEWEB)

    None

    1977-07-13

    The trade-off between risk and rate-of-return in investment evaluations is crucial in assessing the commercial potential of future energy-conservation technologies. The focus of the Industrial Conservation Program at ERDA is to reduce the perceived risks of a given technology to the extent that the private sector will adopt the technology within the normal course of its business operations. These perceived risks may emanate from technical, institutional, or commercial uncertainties, or in many cases they may result merely from a company's or industry's lack of previous experience with a particular technology. Regardless of the source of the risk surrounding a project, the uncertainty it poses to the private sector will serve to inhibit decisions to invest. This study evaluates the treatment of risk in capital investments in certain energy-intensive industries which are the primary targets of ERDA's Industrial Conservation Program. These risks evaluation considerations were placed within a context that includes capital budgeting practices and procedures, organizational considerations, and basic rate-of-return evaluation procedures in the targeted energy-intensive industries (petroleum, chemicals, paper, textiles, cement, food processing, aluminum, steel, glass, and agriculture).

  7. Performance Evaluation of the Investment Projects during the Implementation Phase (Najaf province as a case study

    Directory of Open Access Journals (Sweden)

    Kadhim Raheem Erzaij

    2016-08-01

    Full Text Available The construction project is a very complicated work by its nature and requires specialized knowledge to lead it to success. The construction project is complicated socially, technically and economically in its planning, management and implementation aspects due to the fact that it has many variables and multiple stakeholders in addition to being affected by the surrounding environment. Successful projects depend on three fundamental points which are cost-time, performance and specifications. The project stakeholder's objective to achieve best specifications and the cost-time frame stipulated in the contract The question is, was the optimum implementation accomplished? The provision for the success of the project is how are the daily activities managed by the three stakeholders of the project (contractor, owner, and consultant and their technical and practical capability to attain the balance of the project fundamental points (cost, time and quality taking into account the project objectives that were set by the owner. Despite the way, logical framework management and project’s major steps there is a group of elements which become major measures to determine the success or failure of the project, the research interested in these elements by a thorough study of references related to the success of a constructional project. To reinforce the theoretical study a field assessment of the housing project; this led to the recognition of the major elements that caused breaches of the evaluation criteria. The closed questionnaire and the regular forms based on the data and information collected through the theoretical review and the closed questionnaire to conclude and examine some concepts related by assessing the quality of building materials used in residential investment projects through the stages (planning - design-implementation Through the research a lot of deductions were made, the most important is that there cannot be an evaluation system

  8. Efficiency evaluation of China's investment in Africa under the background of constructing "Silk Road Economic Belt": Application of DEA model and Malmquist index method

    OpenAIRE

    Ze, Tian; Yumei, Fan; Chao, Liu

    2018-01-01

    In recent years, with implementation and propulsion of the strategic planning "One Belt and One Road" of China, quality and efficiency of China's foreign direct investment have increasingly become a focused issue. This paper utilizes the DEA model and Malmquist index method to select the data of China's investment in 20 countries of Africa and conducts the empirical research on dynamic evaluation of efficiency of China's direct investment in Africa. The result shows that the general efficienc...

  9. Investing in communities: evaluating the added value of community mobilization on HIV prevention outcomes among FSWs in India.

    Science.gov (United States)

    Kuhlmann, Anne Sebert; Galavotti, Christine; Hastings, Philip; Narayanan, Pradeep; Saggurti, Niranjan

    2014-04-01

    Community mobilization often requires greater time and resource investments than typical interventions, yet few evaluations exist to justify these investments. We evaluated the added benefit of community mobilization on HIV prevention outcomes among female sex workers (FSWs) using a composite measure of volunteer participation in program committees by FSWs. After adjusting for treatment propensity, we used multilevel structural equation modeling (MSEM) to test our program theory. We hypothesized that stronger community mobilization would be associated with increased levels of consistent condom use and with increased levels of perceived fairness, mediated by psychosocial processes. Community mobilization had an indirect effect on consistent condom use mediated through social cohesion and an indirect effect on perceived fairness mediated by collective efficacy. Our results suggest higher levels of community mobilization help improve condom use and reduce perceived discrimination beyond the effects of the core HIV intervention program. We recommend further testing of this model.

  10. Evaluation of learning moments, investment cost and life cost of five EOS DEMO/UKR projects; Evaluatie leermomenten, investerings- en levensduurkosten van vijf EOS DEMO/UKR projecten

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-03-15

    Subsidised, energy efficient building example projects in the Netherlands show that the additional cost of 10 to 15% for the initial investment are compensated by the much lower energy cost later on. A study has been conducted of the relation between investments, housing expenses and energy efficient building [Dutch] Gesubsidieerde, energiezuinig gebouwde voorbeeldprojecten in Nederland tonen aan dat de meerkosten van 10% tot 15% voor de initiele investering opwegen tegen de veel lagere energiekosten later. Een studie is uitgevoerd naar de relatie tussen investeringen, woonlasten en energiezuinig bouwen.

  11. Evaluation of the indexes of income yield capacity of energetic projects; Evaluacion de los indices de rentabilidad de proyectos energeticos

    Energy Technology Data Exchange (ETDEWEB)

    Villanueva M, C. [Facultad de Quimica, UNAM, 04510 Mexico D.F. (Mexico)

    2008-07-01

    An economic-financial model to evaluate in the class living room those indexes of profitability of projects of productive infrastructure of the energy sector was developed, as for example: generation projects, transmission and electric energy distribution; projects of transport and distribution of natural gas; projects of cogeneration of vapor and electricity; projects of refinement of petroleum; and other industrial projects. It is described the structure and operation of the pattern, which has been implemented in an Excel calculation sheet that the students use in their personal computers to apply it to the evaluation of the indexes of profitability, specified by the Secretaria de Hacienda y Credito Publico (SHCP) in their limits for the elaboration and presentation of the cost and benefit analysis of the programs and projects of investment of the public sector. The indicators are: present net value VPN, quotient benefits cost B/C, return internal rate TIR, and equivalent annual cost CAE, which should be calculated with methodological rigor according to the SHCP lineaments. The pattern uses the pre-programmed financial functions in the Excel calculation sheet to carry out the compute of the indicators starting from the effective flow of the projects. It is described the technician-economic configuration and the effective flows during the useful life of three power stations of electric power generation that are designed, builds and operated to sell electric power to the national interconnected system in a nodal marginal prices market: a hydroelectric one, a combined cycle power station that uses natural gas, and a nucleo electric. The effective flows are developed and the central profitability of three centrals are evaluated and they are also carried out the corresponding sensitivity analyses and indifference required by the SHCP in their lineaments. Finally, the conditions in that the projects should operate and the prices in those that should sell their

  12. Tables of compound-discount interest rate multipliers for evaluating forestry investments.

    Science.gov (United States)

    Allen L. Lundgren

    1971-01-01

    Tables, prepared by computer, are presented for 10 selected compound-discount interest rate multipliers commonly used in financial analyses of forestry investments. Two set of tables are given for each of the 10 multipliers. The first set gives multipliers for each year from 1 to 40 years; the second set gives multipliers at 5-year intervals from 5 to 160 years....

  13. THE USE OF LINEAR PROGRAMMING TO EVALUATE THE IMPACT OF CREDIT FOR INVESTMENTS IN SMALL GOAT FARMS

    Directory of Open Access Journals (Sweden)

    Henrique Rocha de Medeiros

    2009-02-01

    Full Text Available The PRONAF is a government program that subsidies the credit for investment to smallholder farming and improves the social development in Brazil. This research was carried out to evaluate the effect of increasing the value of credit for investment used for the PRONAF farmers in semiarid areas, and their impact on the income and labor in the smallholder farming production systems. Economic data of dairy and meat goat systems of PRONAF farmes in ";;;;;Rio Grande do Norte";;;;;, Brazil was used. The limits of the model were the credit for investment, maximum number of animals in the system and the labor time. The current value of credit for investment (US$2,850.00 was increased by 25%, 50% and 100% and its impact in the farm income analized when considering milk and meat production. The maximum number of animals in the system was estimated by multiplying the carrying capacity (1.5 heads/ha/year plus the average pasture areas of PRONAF farms (35 ha. The maximum labor time available for work was 12 hours/day. This mathematical model was solved using linear programming with LINDO(R Software. When the credit for investment was expanded in 25% and 50%, the income of the system increased to 22% and 41%, respectively. It happened because the value of the credit allowed also enhance the number of dairy goats in the system. However, this income was not enough to use and pay more than 5 hours/day in dairy goat system activities. By raising the credit for investment up to 100% it would increase the income of the system around 81%. It happened because the number of dairy goats went up to 83% and the dairy production was had better results than meat production. The system with more dairy goats enough incme to pay the farmer labor (7 hours/day and during the other five g¿hours could develop another activity. Therefore, the results of the analysis indicated that an increase in the credit for investment in small goat farms in semi-ard areas in Brazil

  14. IS VIETNAM THE NEW ASIAN TIGER? SCOREBOARD ANDMACROECONOMIC EVALUATION OF THE ATTRACTIVENESS FORFOREIGN DIRECT INVESTMENT

    Directory of Open Access Journals (Sweden)

    Nathalie Homlong

    2012-07-01

    Full Text Available Followingeconomies like China and India,alsoVietnamhas managed toincreaseits attractiveness for foreign direct investmentsin recent years. In contrast tomany European economies Vietnam had overcome the financial and economiccrisisin 2008 quicklyand turned back to high growth rates already in 2010/11.Nevertheless many European economies and companies still regard Vietnam as anunstable and fragile economy. Therefore the questions arisewhich generalinvestment conditions are of importance for companies that are investing abroad,and which factors make Vietnam attractive asa business locationfor foreigncompanies? After a presentation of stylized facts about Vietnam and a discussionof location theories and location factors, we develop a scoring method to evaluategeneral investment conditions. Eight of the member states of the European Unionin Central and Eastern Europeare used as reference groups to test the scoreboardrating tool, before it is applied for Vietnam.

  15. APPLYING LCC METHODOLOGY FOR THE EVALUATION OF THE EFFECTIVENESS OF AN INVESTMENT OF PROJECTS OF THE SEWAGE TREATMENT PLANT

    Directory of Open Access Journals (Sweden)

    Anatoli Hurynovich

    2016-06-01

    Full Text Available The article is referring to the current problems of the evaluation of the effectiveness of an investment of new plans and of the modernization of existing sewage treatment plants including aspects of the optimization of costs of the sewage treatment. He shows the modernization of the sewage treatment plant the Evaluation of the life cycle as the adequate tool assisting choice of the best variant or the level. He is presenting characteristics of LCС methodology and examples of using to the technology assessment the sewage treatment.

  16. The Risk Evaluation of Agricultural High-tech Investment Project%农业高新技术投资项目风险评价

    Institute of Scientific and Technical Information of China (English)

    陆迁; 苗姗姗

    2005-01-01

    The agricultural high-tech investment project (AHIP) is characterized by technology-intensive, high risk and great profit. This article analyzes essential factors of the risks of the agricultural high-tech investment projects and the traditional risk evaluation method of agricultural projects. We think that the applications of the sensitivity analysis and probability are defective. Therefore, this article introduces a structural model to evaluate the risks of the agricultural high-tech investment projects and the system of the concrete evaluation indexes.

  17. Using of CBA Method for Evaluation of the Investments in the Link with Social Responsible Business

    Science.gov (United States)

    Mrvová, Ľubica; Vaňová, Jaromíra

    2012-12-01

    The paper presents knowledge from the area of economic efficiency assessment of the environmental investments, in the link with environmental management with context of social responsible business and their mutual connection, on the base of CBA method. CBA method creates basis for the software CBA1.1, which was created for the needs of business practise for the small and medium enterprises in the Slovak Republic.

  18. Evaluation of NASA-sponsored research on capital investment decision making in the civil aviation industry

    Science.gov (United States)

    Donovan, D. J.

    1977-01-01

    Significant findings of three studies undertaken to provide the NASA Aircraft Energy Efficiency (ACEE) Office with information regarding how aircraft manufacturers and commercial airlines make investment decisions concerning the acquisition of new and derivative technology are analyzed and their general implications explored. Topics discussed include: the market for airline aircraft, factors affecting the corporate decision making process of air transport manufacturers, and flight equipment purchasing practices of representative air carriers.

  19. Evaluation of Representative Smart Grid Investment Grant Project Technologies: Thermal Energy Storage

    Energy Technology Data Exchange (ETDEWEB)

    Tuffner, Francis K.; Bonebrake, Christopher A.

    2012-02-14

    This document is one of a series of reports estimating the benefits of deploying technologies similar to those implemented on the Smart Grid Investment Grant (SGIG) projects. Four technical reports cover the various types of technologies deployed in the SGIG projects, distribution automation, demand response, energy storage, and renewables integration. A fifth report in the series examines the benefits of deploying these technologies on a national level. This technical report examines the impacts of energy storage technologies deployed in the SGIG projects.

  20. Evaluating the impact of investments in information technology on structural inertia in health organizations.

    Science.gov (United States)

    Bewley, Lee W

    2010-01-01

    Structural inertia is the overall capacity of an organization to adapt within a market environment. This paper reviews the impact of healthcare investments in information management/information technology (IM/IT) on the strategic management concept of structural inertia. Research indicates that healthcare executives should consider the relative state of structural inertia for their firms and match them with potential IM/IT solutions. Additionally, organizations should favorably consider IM/IT solutions that are comparatively less complex.

  1. Evaluating community investments in the mining sector using multi-criteria decision analysis to integrate SIA with business planning

    International Nuclear Information System (INIS)

    Esteves, A.M.

    2008-01-01

    Gaining senior management's commitment to long-term social development projects, which are characterised by uncertainty and complexity, is made easier if projects are shown to benefit the site's strategic goals. However, even though the business case for community investment may have been accepted at a general level, as a strategy for competitive differentiation, risk mitigation and a desire to deliver - and to be seen to deliver - a 'net benefit' to affected communities, mining operations are still faced with implementation challenges. Case study research on mining companies, including interviews with social investment decision-makers, has assisted in developing the Social Investment Decision Analysis Tool (SIDAT), a decision model for evaluating social projects in order to create value for both the company and the community. Multi-criteria decision analysis techniques integrating business planning processes with social impact assessment have proved useful in assisting mining companies think beyond the traditional drivers (i.e. seeking access to required lands and peaceful relations with neighbours), to broader issues of how they can meet their business goals and contribute to sustainable development in the regions in which they operate

  2. Return on Scientific Investment - RoSI: a PMO dynamical index proposal for scientific projects performance evaluation and management.

    Science.gov (United States)

    Caous, Cristofer André; Machado, Birajara; Hors, Cora; Zeh, Andrea Kaufmann; Dias, Cleber Gustavo; Amaro Junior, Edson

    2012-01-01

    To propose a measure (index) of expected risks to evaluate and follow up the performance analysis of research projects involving financial and adequate structure parameters for its development. A ranking of acceptable results regarding research projects with complex variables was used as an index to gauge a project performance. In order to implement this method the ulcer index as the basic model to accommodate the following variables was applied: costs, high impact publication, fund raising, and patent registry. The proposed structured analysis, named here as RoSI (Return on Scientific Investment) comprises a pipeline of analysis to characterize the risk based on a modeling tool that comprises multiple variables interacting in semi-quantitatively environments. This method was tested with data from three different projects in our Institution (projects A, B and C). Different curves reflected the ulcer indexes identifying the project that may have a minor risk (project C) related to development and expected results according to initial or full investment. The results showed that this model contributes significantly to the analysis of risk and planning as well as to the definition of necessary investments that consider contingency actions with benefits to the different stakeholders: the investor or donor, the project manager and the researchers.

  3. An evaluation of the Well at Dell health management program: health risk change and financial return on investment.

    Science.gov (United States)

    Musich, Shirley; McCalister, Tre'; Wang, Sara; Hawkins, Kevin

    2015-01-01

    To investigate the effectiveness of the Well at Dell comprehensive health management program in delivering health care and productivity cost savings relative to program investment (i.e., return on investment). A quasi-experimental design was used to quantify the financial impact of the program and nonexperimental pre-post design to evaluate change in health risks. Ongoing worksite health management program implemented across multiple U.S. locations. Subjects were 24,651 employees with continuous medical enrollment in 2010-2011 who were eligible for 2011 health management programming. Incentive-driven, outcomes-based multicomponent corporate health management program including health risk appraisal (HRA)/wellness, lifestyle management, and disease management coaching programs. Medical, pharmacy, and short-term disability pre/post expenditure trends adjusted for demographics, health status, and baseline costs. Self-reported health risks from repeat HRA completers. Analysis: Propensity score-weighted and multivariate regression-adjusted comparison of baseline to post trends in health care expenditures and productivity costs for program participants and nonparticipants (i.e., difference in difference) relative to programmatic investment. The Well at Dell program achieved an overall return on investment of 2.48 in 2011. Most of the savings were realized from the HRA/wellness component of the program. Cost savings were supported with high participation and significant health risk improvement. An incentive-driven, well-managed comprehensive corporate health management program can continue to achieve significant health improvement while promoting health care and productivity cost savings in an employee population.

  4. Hydrogen storage for wind parks: A real options evaluation for an optimal investment in more flexibility

    International Nuclear Information System (INIS)

    Kroniger, Daniel; Madlener, Reinhard

    2014-01-01

    Highlights: • Economic analysis of investing in H 2 storage for excess wind power production. • Use of real options analysis to account for uncertainty and managerial flexibility. • Hourly profits are simulated for profit-maximizing operation of the storage device. • Revenues by load factor increase, offering minute reserve, temporal arbitrage, H 2 sale. • Power-to-power is unprofitable under current techno-political conditions in Germany. - Abstract: In this paper, we investigate the economic viability of hydrogen storage for excess electricity produced in wind power plants. For the analysis, we define two scenarios (50 MW system with and without re-electrification unit) and apply Monte Carlo simulation and real options analysis (ROA) to compute hourly profits under uncertainty regarding wind speed, spot market electricity prices, and call of minute reserve capacity. Hydrogen as a storage medium helps to either (1) increase capacity utilization of the wind park in case of grid disconnection; (2) to offer minute reserve; or (3) to exploit temporal price arbitrage at the electricity spot market; additionally, hydrogen can also be directly sold as a commodity. We find that power-to-power operation is highly uneconomical under current framework conditions in Germany, irrespective of potential energy efficiency gains. Interestingly, due to counterbalancing effects, offshore wind parks are found to have only a modest economic advantage compared to onshore ones. The power-to-fuel plant can be operated profitably (at hydrogen prices of more than 0.36 € m −3 and a 100% utilization of the electrolyzer) if hydrogen is directly marketed instead of used to store and re-generate electrical energy. The ROA recommends investment in a storage device without re-electrification unit beyond an expected project value that is about twice the investment cost of the storage device, a figure which is reduced markedly as conversion efficiency rises, assuming technical change

  5. Institutional Factors in the Evaluation by the Entrepreneur of Municipality Investment Climate

    Directory of Open Access Journals (Sweden)

    Alexandr Yuryevich Kokovikhin

    2017-03-01

    Full Text Available The article presents the results of the survey assessing the satisfaction level of small and medium businesses of the Sverdlovsk region with the factors of the institutional environment created in the area. Modern economics identifies four economic benefits of entrepreneurship development: job generation; productivity growth; innovation and economic growth. Governments, however, can exert either a positive or a negative influence on the extent to which in practice these benefits materialize. The positive result of Government policy is the investment appeal of the territory. We suppose, that the investment appeal of the territory depends on the correlation of the indicator of satisfaction and objective parameters of the institutional environment. Data for the subjective view was the survey of the satisfaction level of small and medium businesses of the Sverdlovsk region with the factors of the institutional environment at the year 2015 (more than 1000 respondents in 72 territories. Data for the objective view was Reports of the Heads of Sverdlovsk region municipalities about the efficiency in the municipal management, made public in 2015. The results of the research allow to develop a series of recommendations to improve the institutional environment for small and medium businesses. The basis for the selection of priority measures to improve the satisfaction of entrepreneurs is the correlation of the indicator of satisfaction and objective parameters of the institutional environment. The recommendations of the paper can be used by State and Municipal Governments in the policy of the increase of territory investment appeal. The scientific results of the research can become the base for further investigations of the correlation between subjective and objective factors of territorial development.

  6. Evaluation of Representative Smart Grid Investment Grant Project Technologies: Distributed Generation

    Energy Technology Data Exchange (ETDEWEB)

    Singh, Ruchi; Vyakaranam, Bharat GNVSR

    2012-02-14

    This document is one of a series of reports estimating the benefits of deploying technologies similar to those implemented on the Smart Grid Investment Grant (SGIG) projects. Four technical reports cover the various types of technologies deployed in the SGIG projects, distribution automation, demand response, energy storage, and renewables integration. A fifth report in the series examines the benefits of deploying these technologies on a national level. This technical report examines the impacts of addition of renewable resources- solar and wind in the distribution system as deployed in the SGIG projects.

  7. Evaluating Investments in Natural Gas Vehicles and Infrastructure for Your Fleet: Vehicle Infrastructure Cash-Flow Estimation -- VICE 2.0; Clean Cities, Energy Efficiency & Renewable Energy (EERE)

    Energy Technology Data Exchange (ETDEWEB)

    Gonzales, John

    2015-04-02

    Presentation by Senior Engineer John Gonzales on Evaluating Investments in Natural Gas Vehicles and Infrastructure for Your Fleet using the Vehicle Infrastructure Cash-flow Estimation (VICE) 2.0 model.

  8. Evaluation of the Energy Investment Allowance (EIA). Ex-post evaluation 2006-2011; Evaluatie Energie Investeringsaftrek. Ex post evaluatie 2006-2011

    Energy Technology Data Exchange (ETDEWEB)

    Volkerink, B.; Slingerland, S.; Boeve, S.; Meindert, L. [Ecorys, Rotterdam (Netherlands); De Groot, H.L.F. [Vrije Universiteit VU, Amsterdam (Netherlands); Van Zutphen, F. [Van Zutphen Economisch Advies, Rotterdam (Netherlands)

    2012-11-15

    The EIA (Energy Investment Allowance) has been evaluated for the period 2006-2011. Attention has been paid to its relevancy and the (cost) effectiveness [Dutch] Er is onderzocht of de EIA in de periode 2006 tot en met 2011 goed heeft gefunctioneerd. Daarbij is gekeken naar de relevantie van de EIA, de effectiviteit en kosteneffectiviteit van de EIA en is een evaluatie van de uitvoering gemaakt.

  9. EVALUATION OF ECONOMIC EFFICIENCY OF INVESTMENT IN THE INDUSTRIAL LOGISTICS PARK OF THE NOVOSIBIRSK REGION

    Directory of Open Access Journals (Sweden)

    Kogan A. B.

    2016-03-01

    Full Text Available The author describes a method for estimation the economic efficiency, based on the input-output model. The proposed method develops the author of well-known methods of cost-benefits analysis. The method is used to assess the effectiveness of budget financing the establishment of Industrial logistics Park (PLP in the Novosibirsk region (NSO. The estimation is based on the input-output model developed for the NSO. Economic benefits are assessed on the basis of growth in gross value added (GVA. This takes into account a number of losses GVA, for example, losses due to the displacement of existing producers, losses due to the purchase of imported resources, etc. Economiccosts is estimated as a fulloutput of the economy, necessary for the establishment and operation of the investment project.

  10. Evaluation of wind energy investment interest and electricity generation cost analysis for Turkey

    International Nuclear Information System (INIS)

    Akdag, Seyit Ahmet; Gueler, Oender

    2010-01-01

    Turkey has remarkable wind energy potential, but its utilisation rate is very low. However, in 2007, energy investors applied to the Energy Market Regulatory Authority (EMRA) with 751 wind projects to obtain a 78180.2 MW wind power plant license. This paper first presents an overview of wind energy development in the world and then reviews related situations in Turkey. Second, to motivate the interest in wind energy investment, new wind power plant license applications in Turkey are analysed. Finally, wind electricity generation cost analyses were performed at 14 locations in Turkey. Capacity factors of investigated locations were calculated between 19.7% and 56.8%, and the production cost of electrical energy was between 1.73 and 4.99 cent/kW h for two different wind shear coefficients. (author)

  11. Missouri airport investment study

    Science.gov (United States)

    The studys purpose is to provide MoDOT with insight to the potential ROI for airport : investments in terms of economic development. To do so, this study addresses two central : objectives: first, an approach to evaluate airport investments; and s...

  12. Evaluating Proposed Investments in Power System Reliability and Resilience: Preliminary Results from Interviews with Public Utility Commission Staff

    Energy Technology Data Exchange (ETDEWEB)

    LaCommare, Kristina [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Larsen, Peter [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Eto, Joseph [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2017-01-01

    Policymakers and regulatory agencies are expressing renewed interest in the reliability and resilience of the U.S. electric power system in large part due to growing recognition of the challenges posed by climate change, extreme weather events, and other emerging threats. Unfortunately, there has been little or no consolidated information in the public domain describing how public utility/service commission (PUC) staff evaluate the economics of proposed investments in the resilience of the power system. Having more consolidated information would give policymakers a better understanding of how different state regulatory entities across the U.S. make economic decisions pertaining to reliability/resiliency. To help address this, Lawrence Berkeley National Laboratory (LBNL) was tasked by the U.S. Department of Energy Office of Energy Policy and Systems Analysis (EPSA) to conduct an initial set of interviews with PUC staff to learn more about how proposed utility investments in reliability/resilience are being evaluated from an economics perspective. LBNL conducted structured interviews in late May-early June 2016 with staff from the following PUCs: Washington D.C. (DCPSC), Florida (FPSC), and California (CPUC).

  13. Investment Avenues

    Science.gov (United States)

    Jain, Priyanka

    2012-11-01

    Investors are a heterogeneous group, they may be large or small, rich or poor, expert or lay man and not all investors need equal degree of protection (Mayya, 1996). An investor has three objectives while investing his money, namely safety of invested money, liquidity position of invested money and return on investment. The return on investment may further be divided into capital gain and the rate of return on investment as interest or dividend. Among all investment options available, securities are considered the most challenging as well as rewarding. Securities include shares, debentures, derivatives, units of mutual funds, Government securities etc. An investor may be an individual or corporate legal entity investing funds with a view to derive maximum economic advantage from investment such as rate of return, capital appreciation, marketability, tax advantage and convenience of investment.The Capital market facilitates mobilization of savings of individuals and pools them into reservoir of capital which can be used for the economic development of a country. An efficient capital market is essential for raising capital by the corporate sector of the economy and for the protection of the interest of investors in corporate securities. There arises a need to strike a balance between raising of capital for economic development on one side and protection of investors on the other. Unless the interests of investors are protected, raising of capital, by corporates is not possible. Like, the primary objective of a senior citizenís asset allocation is the generation of regular income.

  14. Energetics Conditioning Facility

    Data.gov (United States)

    Federal Laboratory Consortium — The Energetics Conditioning Facility is used for long term and short term aging studies of energetic materials. The facility has 10 conditioning chambers of which 2...

  15. Evaluation on Optimal Scale of Rural Fixed-asset Investment – Based on Microcosmic Perspective of Farmers’ Income Increase

    OpenAIRE

    DENG, Jinqian; SHAN, Kangkang; ZHANG, Yan

    2014-01-01

    The rural fundamental and productive fixed-asset investment not only makes active influence on the changes of farmers’ operational, wages and property income, but it also has an optimal scale range for farmers’ income increase. From the perspective of farmers’ income increase, this article evaluates the optimal scale of rural fixed-asset investment by setting up model with statistic data, and the results show that the optimal scale of per capita rural fixed-asset investment is 76.35% of...

  16. Evaluating the application of different pricing regimes and low carbon investments in the European electricity market

    International Nuclear Information System (INIS)

    Oggioni, Giorgia; Smeers, Yves

    2012-01-01

    The EU-ETS is the first measure initiated by the EU to contribute to the decarbonization of the European energy sector. It is a cap and trade system that requires industries participating to the program to procure allowances to cover their emissions. Electricity Intensive Industries (EIIs) have complained that the system put their European plants at disadvantage compared to facilities located outside the EU. They have asked for actions to mitigate this effect; one of them is to have access to long term contracts with electricity suppliers, ideally with those operating carbon free plants. This paper presents and illustrates a method for assessing the impact of this measure on EIIs participating to the EU cap and trade system. We model a power market segmented in two consumer groups EIIs and the rest of the market (N-EIIs). These two groups are subject to different price regimes: EIIs purchase electricity from dedicated base-load power plants at average cost price, while N-EIIs are supplied at marginal cost. The French Exeltium and the Belgian Blue Sky consortia are existing examples of this market organization. The expanse of the territories that can be covered by these systems depends on the organization of transmission organization and on national energy position relative to carbon free generation. We examine two different types of long term average cost based contracts that differ by the organization of transmission and study their impact under different national energy policies. We formulate the problem of operations and investment in this market as a spatial equilibrium model where generators can invest in new capacity subject to different regional constraints. Transmission is organized according to a “flow based” approach as foreseen by Regulatory Authorities and Transmission System Operators in Europe. We also examine the impact of nuclear policies. CO 2 emission allowances are auctioned and tradable. We describe the models and discuss their policy

  17. 77 FR 5850 - Notice of Random Assignment Study To Evaluate Workforce Investment Act Adult and Dislocated...

    Science.gov (United States)

    2012-02-06

    ... evaluation, the evaluation team, led by researchers from Mathematica and its subcontractor MDRC, submitted... anyone to services to which they would not have referred them in the absence of the study. The study...

  18. Role of geochemical background at evaluation of investment attractiveness of recreational territories

    Directory of Open Access Journals (Sweden)

    Vdovina Ol'ga Konstantinovna

    2014-09-01

    Full Text Available The article shows the role of natural geochemical background when estimating investment attractiveness of recreational areas. It is noted, that geochemical background influence on people's sickness rate isn't considered now. Though it's understood, that even insignificant increase of geochemical background in relation to percentage abundance of Earth crest may lead to endemic diseases of people, animals and plants. An indicator of geochemical endemicity areas was proposed for assessing the impact of storage elements and of a lack of geological environment on human health. Thanks to this measure, and taking into account landscape features of the area, the authors allocated lands, dangerous and potentially dangerous in terms of endemicity. The importance of ratings was achieved by the use of those factors that could have a great influence on the cost of land development. This includes, first of all, the factors that affect population health, and economic and geographic factors that minimize the cost of the territory development and the factors that give rise to financial risks and risks of human losses. The main risk factors include: potential ecological and geochemical risk; high absolute heights, development and activity of dangerous geological processes and phenomena. Systemacity of researches was reached by using factors, that characterize the object from different aspects; readiness of area infrastructure to its exploration and possible risks. Objectivity was achieved by the use of figures obtained from the results of geochemical and engineering surveys with their metrological support.

  19. Life cycles of energetic systems

    International Nuclear Information System (INIS)

    Adnot, Jerome; Marchio, Dominique; Riviere, Philippe; Duplessis, B.; Rabl, A.; Glachant, M.; Aggeri, F.; Benoist, A.; Teulon, H.; Daude, J.

    2012-01-01

    This collective publication aims at being a course for students in engineering of energetic systems, i.e. at learning how to decide to accept or discard a project, to select the most efficient system, to select the optimal system, to select the optimal combination of systems, and to classify independent systems. Thus, it presents methods to analyse system life cycle from an energetic, economic and environmental point of view, describes how to develop an approach to the eco-design of an energy consuming product, how to understand the importance of hypotheses behind abundant and often contradicting publicised results, and to be able to criticise or to put in perspective one's own analysis. The first chapters thus recall some aspects of economic calculation, introduce the assessment of investment and exploitation costs of energetic systems, describe how to assess and internalise environmental costs, present the territorial carbon assessment, discuss the use of the life cycle assessment, and address the issue of environmental management at a product scale. The second part proposes various case studies: an optimal fleet of thermal production of electric power, the eco-design of a refrigerator, the economic and environmental assessment of wind farms

  20. Participatory monitoring and evaluation to aid investment in natural resource manager capacity at a range of scales.

    Science.gov (United States)

    Brown, Peter R; Jacobs, Brent; Leith, Peat

    2012-12-01

    Natural resource (NR) outcomes at catchment scale rely heavily on the adoption of sustainable practices by private NR managers because they control the bulk of the NR assets. Public funds are invested in capacity building of private landholders to encourage adoption of more sustainable natural resource management (NRM) practices. However, prioritisation of NRM funding programmes has often been top-down with limited understanding of the multiple dimensions of landholder capacity leading to a failure to address the underlying capacity constraints of local communities. We argue that well-designed participatory monitoring and evaluation of landholder capacity can provide a mechanism to codify the tacit knowledge of landholders about the social-ecological systems in which they are embedded. This process enables tacit knowledge to be used by regional NRM bodies and government agencies to guide NRM investment in the Australian state of New South Wales. This paper details the collective actions to remove constraints to improved NRM that were identified by discrete groups of landholders through this process. The actions spanned geographical and temporal scales, and responsibility for them ranged across levels of governance.

  1. Federal Investment

    Science.gov (United States)

    Campbell, Sheila; Tawil, Natalie

    2013-01-01

    The federal government pays for a wide range of goods and services that are expected to be useful some years in the future. Those purchases, called investment, fall into three categories: physical capital, research and development (R&D), and education and training. There are several economic rationales for federal investment. It can provide…

  2. Coping with poverty in international assistance policy: an evaluation of spatially integrated investment strategies. [World Bank, USAID, and UN

    Energy Technology Data Exchange (ETDEWEB)

    Rondinelli, D A [Syracuse Univ., NY; Ruddle, K

    1978-04-01

    International assistance agencies have turned increasingly to integrated rural development policies in an attempt to ameliorate the inequitable distribution of economic growth plaguing Third World nations since World War II. This paper reviews the functionally and spatially integrated investment strategies of the World Bank, US Agency for International Development, and the United Nations, outlines their objectives, perceptions of the problem, basic assumptions and programs, and evaluates them in terms of potential difficulties for implementation. Those factors crucial to making integrated development policies operational--knowledge of human ecosystems in rural areas, analytical ability, operational procedures, arrangements for local participation, subsistence systems indicators and administrative capacity of local and national governments--are discussed and assessed.

  3. INVESTMENT ATTRACTIVENESS OF ENTERPRISES

    Directory of Open Access Journals (Sweden)

    Nadiia Davydenko

    2017-03-01

    Full Text Available In the article the approaches to defining the essence of the concept of “investment attractiveness of enterprises” were analyzed. On the example of "Agrofirm Brusilov" depth analysis of the agricultural enterprises to evaluate of profitability, liquidity, solvency, financial stability, the timing of the return of invested funds and minimizing investment risks was conducted. To study methods of rating and system analysis were used. To justify the conditions of  increasing investment attractiveness farms method of scoring was used. It was established as a result of the use of integrated evaluation of the financial position one can see problem aspects of financial position of the company and develop measures to enhance liquidity, solvency, identify potential for raising the efficiency of company and prevention of financial crisis. The analysis of financial position showed that the management of the enterprise doesn’t  think  about  financial stability and solvency, does not understand the benefit of borrowed capital. Using research results in practice of agricultural enterprises allows us to give a real evaluation of investment attractiveness and justify ways to improve it. Key words: investments, investment attractiveness, potential business, financial position.

  4. Evaluating the Bulk Lorentz Factors of Outflow Material: Lessons Learned from the Extremely Energetic Outburst GRB 160625B

    Energy Technology Data Exchange (ETDEWEB)

    Wang, Yuan-Zhu; Wang, Hao; Zhang, Shuai; Liang, Yun-Feng; Jin, Zhi-Ping; He, Hao-Ning; Liao, Neng-Hui; Fan, Yi-Zhong; Wei, Da-Ming, E-mail: liangyf@pmo.ac.cn, E-mail: jin@pmo.ac.cn, E-mail: dmwei@pmo.ac.cn [Key Laboratory of Dark Matter and Space Astronomy, Purple Mountain Observatory, Chinese Academy of Science, Nanjing, 210008 (China)

    2017-02-10

    GRB 160625B is an extremely bright outburst with well-monitored afterglow emission. The geometry-corrected energy is high, up to ∼5.2 × 10{sup 52} erg or even ∼8 × 10{sup 52} erg, rendering it the most energetic GRB prompt emission recorded so far. We analyzed the time-resolved spectra of the prompt emission and found that in some intervals there were likely thermal-radiation components and the high energy emission was characterized by significant cutoff. The bulk Lorentz factors of the outflow material are estimated accordingly. We found out that the Lorentz factors derived in the thermal-radiation model are consistent with the luminosity-Lorentz factor correlation found in other bursts, as well as in GRB 090902B for the time-resolved thermal-radiation components, while the spectral cutoff model yields much lower Lorentz factors that are in tension with the constraints set by the electron pair Compton scattering process. We then suggest that these spectral cutoffs are more likely related to the particle acceleration process and that one should be careful in estimating the Lorentz factors if the spectrum cuts at a rather low energy (e.g., ∼tens of MeV). The nature of the central engine has also been discussed, and a stellar-mass black hole is favored.

  5. Evaluating the effectiveness of conservation and development investments in reducing deforestation and fires in Ankeniheny-Zahemena Corridor, Madagascar.

    Science.gov (United States)

    Tabor, Karyn; Jones, Kelly W; Hewson, Jennifer; Rasolohery, Andriambolantsoa; Rambeloson, Andoniaina; Andrianjohaninarivo, Tokihenintsoa; Harvey, Celia A

    2017-01-01

    Forest conservation and REDD+ projects invest millions of dollars each year to reduce local communities' dependence on forests and prevent forest loss and degradation. However, to date, there is limited evidence on whether these investments are effective at delivering conservation outcomes. We explored the relationships between 600+ small-scale conservation and development investments that occurred from 2007 to 2014 and conservation outcomes (deforestation rates and fire detections) within Ankeniheny-Zahamena Corridor in Madagascar using linear fixed effects panel regressions. We derived annual changes in forest cover and fires from satellite remote sensing. We found a statistically significant correlation between presence of any investment and reduced deforestation rates in 2010 and 2011 -years with accelerated deforestation elsewhere in the study area. This result indicated investments abated deforestation rates during times of political instability and lack of governance following a 2009 coup in Madagascar. We also found a statistically significant relationship between presence of any investment and reduced fire detections in the study area, suggesting investments had an impact on reducing burning of forest for agriculture. For both outcomes (i.e., deforestation rates and fire detections), we found that more dollars invested led to greater conservation outcomes (i.e. fewer fires or less deforestation), particularly when funding was sustained for one to two years. Our findings suggest that conservation and development investments can reduce deforestation and fire incidence, but also highlight the many challenges and complexities in assessing relationships between investments and conservation outcomes in a dynamic landscape and a volatile political context.

  6. Assessing the Value of Housing Schemes through Sustainable Return on Investment: A Path towards Sustainability-Led Evaluations?

    Directory of Open Access Journals (Sweden)

    Kevin Dean

    2017-12-01

    Full Text Available The 2016 United Nations (UN New Urban Agenda clearly reaffirms the concept that sustainable cities require intertwined environmental and social sustainability. The United Nations Sustainable Development Goal (SDG 11—“Make cities inclusive, safe, resilient, and sustainable”—sets (as a primary target the provision of sufficient affordable housing. Despite the central role that housing plays in ensuring sustainability and the importance of both environmental and social pillars in ensuring sustainable development, current evaluative methods that support decision making on social housing interventions fail to capture all of the socio-environmental value contained in the UN SDG 11. This paper addresses the issue by demonstrating how Sustainable Return on Investment can successfully describe and analyse a range of externalities related to the sustainable value generated by social housing regeneration schemes. To achieve this goal, a single case study strategy has been chosen. Two extant projects—a high-rise housing scheme and an environmental-led program developed by City West Housing Trust (a nonprofit housing association based in the Manchester area—have been assessed in order to monetise their social and environmental value through different methods. The findings show that, historically, the environmental and social value of regeneration schemes have been largely disregarded because of a gap in the evaluation methods, and that there is room for significant improvement for future evaluation exercises.

  7. Based on Fuzzy Comprehensive Evaluation Method The Investment Risk Assessment of Chinese Enterprises in The Countries Along “The Belt and Road”

    Science.gov (United States)

    Chen, Yanyu; Chai, Huaqi; Huang, Yimiao

    2018-01-01

    “Belt and Road Forum for International Cooperation” held in Beijing in May this year. once again, “The Belt and Road” strategic initiative to the world, causing the world’s enthusiastic response. The core of the “One Belt, One Road” strategy initiative is to promote infrastructure construction and interconnection, dock national policies and development strategies, deepen pragmatic cooperation, promote coordinated and coordinated development and achieve common prosperity. With the “The Belt and Road” strategy in-depth, Chinese enterprises will go abroad, in the countries along the country to invest in more and more examples, accompanied by the increasing risk. Analysis of the failure of investment cases, we can easily find that this is the majority of enterprises overseas investment in the lack of careful assessment of risk and risk of foreign investment risk management has a great relationship. In this paper, the risk factors are used to identify the risk factors table, and the fuzzy comprehensive evaluation method is used to estimate the comprehensive risk value of many uncertain factors that cannot be determined by the overseas investment. The risk assessment system is constructed to help Chinese enterprises to follow the " Investment to avoid risks, improve the success rate.

  8. Evaluation of water conservation capacity of loess plateau typical mountain ecosystems based on InVEST model simulation

    Science.gov (United States)

    Lv, Xizhi; Zuo, Zhongguo; Xiao, Peiqing

    2017-06-01

    With increasing demand for water resources and frequently a general deterioration of local water resources, water conservation by forests has received considerable attention in recent years. To evaluate water conservation capacities of different forest ecosystems in mountainous areas of Loess Plateau, the landscape of forests was divided into 18 types in Loess Plateau. Under the consideration of the factors such as climate, topography, plant, soil and land use, the water conservation of the forest ecosystems was estimated by means of InVEST model. The result showed that 486417.7 hm2 forests in typical mountain areas were divided into 18 forest types, and the total water conservation quantity was 1.64×1012m3, equaling an average of water conversation quantity of 9.09×1010m3. There is a great difference in average water conversation capacity among various forest types. The water conservation function and its evaluation is crucial and complicated issues in the study of ecological service function in modern times.

  9. Beter zicht op rendement van investeringen : selectie en toepassing van kengetallen voor het beoordelen van investeringen op melkveebedrijven : deelrapport 3 van het project 'Groeien in rendement' = Better view on returns on investment : selection and application of indicators for the evaluation of investments on dairy farms : report Part 3 of the project "Expansion with financial return”

    NARCIS (Netherlands)

    Zijlstra, J.; Evers, A.G.

    2012-01-01

    In this study indicators for evaluating investment plans of dairy farms are investigated, evaluated and assessed on suitability. The assessment on suitability was carried out by using investment analysis methods to derive financial performance criteria for plans concerning business development on

  10. Evaluating the effectiveness of conservation and development investments in reducing deforestation and fires in Ankeniheny-Zahemena Corridor, Madagascar

    Science.gov (United States)

    Jones, Kelly W.; Hewson, Jennifer; Rasolohery, Andriambolantsoa; Rambeloson, Andoniaina; Andrianjohaninarivo, Tokihenintsoa; Harvey, Celia A.

    2017-01-01

    Forest conservation and REDD+ projects invest millions of dollars each year to reduce local communities’ dependence on forests and prevent forest loss and degradation. However, to date, there is limited evidence on whether these investments are effective at delivering conservation outcomes. We explored the relationships between 600+ small-scale conservation and development investments that occurred from 2007 to 2014 and conservation outcomes (deforestation rates and fire detections) within Ankeniheny-Zahamena Corridor in Madagascar using linear fixed effects panel regressions. We derived annual changes in forest cover and fires from satellite remote sensing. We found a statistically significant correlation between presence of any investment and reduced deforestation rates in 2010 and 2011 –years with accelerated deforestation elsewhere in the study area. This result indicated investments abated deforestation rates during times of political instability and lack of governance following a 2009 coup in Madagascar. We also found a statistically significant relationship between presence of any investment and reduced fire detections in the study area, suggesting investments had an impact on reducing burning of forest for agriculture. For both outcomes (i.e., deforestation rates and fire detections), we found that more dollars invested led to greater conservation outcomes (i.e. fewer fires or less deforestation), particularly when funding was sustained for one to two years. Our findings suggest that conservation and development investments can reduce deforestation and fire incidence, but also highlight the many challenges and complexities in assessing relationships between investments and conservation outcomes in a dynamic landscape and a volatile political context. PMID:29267356

  11. Financing Investment

    DEFF Research Database (Denmark)

    Hirth, Stefan; Flor, Christian Riis

    Intuition suggests that corporate investment should be decreasing in financing constraints. We show that even when financing is obtained using a standard debt contract and there is symmetric information between the firm and outside investors, the relation is actually U-shaped. We thus provide a new...... theoretical explanation for the recent empirical findings of Cleary et al. (2007). We split up the endogenously implied financing costs and propose a trade-off between expected liquidation costs and second-best investment costs. For rather unconstrained firms, the risk of costly liquidation dominates the cost...

  12. Evaluation of the Impact of Wind Generation on the Electricity Market Prices and on the Profitability of New Wind Investments

    Science.gov (United States)

    Pereira, A. J.; Saraiva, J. T.

    2012-10-01

    This paper describes a Dynamic Model of the electricity sector that can be used to simulate the evolution of some key variables on the long term, namely the evolution of the electricity price, of the demand and of the capacity factors of the technologies in the generation mix. This model can be used in different ways and by several agents, for instance to estimate the impact on the electricity price of the increasing presence of renewable power stations, namely using wind power and PV systems. In several countries these stations are paid feed-in tariffs with a fixed price but in some cases this scheme is under discussion and there are opinions that payments determined by the market price are more adequate and would bring fewer costs to final consumers. Such a change has to be carefully evaluated given that the presence of renewable stations bidding at an infra marginal price will affect the price itself. The model described in this paper can be used in a profitable way both by governmental agencies when preparing or studying alternative remuneration schemes to renewable stations or by promoters themselves to get more insight to the profitability of their investments, namely if the fixed feed-in tariffs in force in several countries are changed.

  13. Evaluation of Underground Zinc Mine Investment Based on Fuzzy-Interval Grey System Theory and Geometric Brownian Motion

    Directory of Open Access Journals (Sweden)

    Zoran Gligoric

    2014-01-01

    Full Text Available Underground mine projects are often associated with diverse sources of uncertainties. Having the ability to plan for these uncertainties plays a key role in the process of project evaluation and is increasingly recognized as critical to mining project success. To make the best decision, based on the information available, it is necessary to develop an adequate model incorporating the uncertainty of the input parameters. The model is developed on the basis of full discounted cash flow analysis of an underground zinc mine project. The relationships between input variables and economic outcomes are complex and often nonlinear. Fuzzy-interval grey system theory is used to forecast zinc metal prices while geometric Brownian motion is used to forecast operating costs over the time frame of the project. To quantify the uncertainty in the parameters within a project, such as capital investment, ore grade, mill recovery, metal content of concentrate, and discount rate, we have applied the concept of interval numbers. The final decision related to project acceptance is based on the net present value of the cash flows generated by the simulation over the time project horizon.

  14. Evaluation of the Impact of Wind Generation on the Electricity Market Prices and on the Profitability of New Wind Investments

    Directory of Open Access Journals (Sweden)

    Saraiva J. T.

    2012-10-01

    Full Text Available This paper describes a Dynamic Model of the electricity sector that can be used to simulate the evolution of some key variables on the long term, namely the evolution of the electricity price, of the demand and of the capacity factors of the technologies in the generation mix. This model can be used in different ways and by several agents, for instance to estimate the impact on the electricity price of the increasing presence of renewable power stations, namely using wind power and PV systems. In several countries these stations are paid feed-in tariffs with a fixed price but in some cases this scheme is under discussion and there are opinions that payments determined by the market price are more adequate and would bring fewer costs to final consumers. Such a change has to be carefully evaluated given that the presence of renewable stations bidding at an infra marginal price will affect the price itself. The model described in this paper can be used in a profitable way both by governmental agencies when preparing or studying alternative remuneration schemes to renewable stations or by promoters themselves to get more insight to the profitability of their investments, namely if the fixed feed-in tariffs in force in several countries are changed.

  15. An Evaluation of Financial Institutions: Impact on Consumption and Investment Using Panel Data and the Theory of Risk-Bearing.

    Science.gov (United States)

    Alem, Mauro; Townsend, Robert M

    2014-11-01

    The theory of the optimal allocation of risk and the Townsend Thai panel data on financial transactions are used to assess the impact of the major formal and informal financial institutions of an emerging market economy. We link financial institution assessment to the actual impact on clients, rather than ratios and non-performing loans. We derive both consumption and investment equations from a common core theory with both risk and productive activities. The empirical specification follows closely from this theory and allows both OLS and IV estimation. We thus quantify the consumption and investment smoothing impact of financial institutions on households including those running farms and small businesses. A government development bank (BAAC) is shown to be particularly helpful in smoothing consumption and investment, in no small part through credit, consistent with its own operating system, which embeds an implicit insurance operation. Commercial banks are smoothing investment, largely through formal savings accounts. Other institutions seem ineffective by these metrics.

  16. An Evaluation of Financial Institutions: Impact on Consumption and Investment Using Panel Data and the Theory of Risk-Bearing*

    Science.gov (United States)

    Alem, Mauro; Townsend, Robert M.

    2013-01-01

    The theory of the optimal allocation of risk and the Townsend Thai panel data on financial transactions are used to assess the impact of the major formal and informal financial institutions of an emerging market economy. We link financial institution assessment to the actual impact on clients, rather than ratios and non-performing loans. We derive both consumption and investment equations from a common core theory with both risk and productive activities. The empirical specification follows closely from this theory and allows both OLS and IV estimation. We thus quantify the consumption and investment smoothing impact of financial institutions on households including those running farms and small businesses. A government development bank (BAAC) is shown to be particularly helpful in smoothing consumption and investment, in no small part through credit, consistent with its own operating system, which embeds an implicit insurance operation. Commercial banks are smoothing investment, largely through formal savings accounts. Other institutions seem ineffective by these metrics. PMID:25400319

  17. 12 CFR 704.5 - Investments.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Investments. 704.5 Section 704.5 Banks and... § 704.5 Investments. (a) Policies. A corporate credit union must operate according to an investment... must address, at a minimum: (1) Appropriate tests and criteria for evaluating investments and...

  18. Regional mapping for evaluation of energetic alternatives for isolated systems in the Amazon region: the Brazilian state of Amapa

    International Nuclear Information System (INIS)

    Nascimento, Marcos V.G.; Pires, Silvia Helena M.; Lacorte, Ana Castro; Menezes, Paulo Cesar P.; Guimaraes, Ana Paula C.; Santos, Marco Aurelio dos; Nascimento, Jose A.S.; Borges, Jorge Luiz; La Rovere, Emilio

    1999-01-01

    This paper presents the methodology developed for the characterization of regional energy potentials, and evaluation of the utilization viability of the various alternative electric power generation, by using the analysis technology based on Geographic Information Systems (GIS). The paper also presents the first results obtained for the energy mapping of the State of Amapa, Brazil

  19. Ignalina NPP its environment, safety and future, prospects of the energetic, ethnic and cultural situation: expert evaluation

    International Nuclear Information System (INIS)

    Morkunas, Z. V.; Ciuzas, A.; Jonaitis, V.; Sutiniene, I.

    1995-01-01

    According to the tasks defined in the 'Atomic Energy and the Environment' program an expert evaluative survey was done for the first time in Lithuania concerning the Ignalina NPP and its consequences and perspectives according to the concept which was prepared. The results of survey analysis, done by Lithuanian experts, are presented. Investigation involved these problems: evolution of the technical state safety, use and prospects of the nuclear power plant; evaluation of the activities of governmental and social institutions in connection with the nuclear power plant; Ignalina NPP and the environment; the effect of the nuclear power plant on agricultural activities and development; evolution of the ethnic and cultural situation; conclusions and recommendations for regulations of those areas. (author). 2 refs., 11 figs

  20. Quality and energetic evaluation of the charcoal made of babassu nut residues used in the steel industry

    OpenAIRE

    Protásio, Thiago de Paula; Trugilho, Paulo Fernando; Mirmehdi, Seyedmohammad; Silva, Marcela Gomes da

    2014-01-01

    Brazil is the only country in the world that uses large scale charcoal in steel-making blast furnaces. Meantime, the monoculture plantations of Eucalyptus are not able to meet the demand for charcoal from the steel industries.Therefore, research is necessary, in order to use lignocellulosic residues for the production of charcoal with technological properties which are suitable for the reduction of iron ore. Given the above, the objective of this study was to evaluate the quality of charcoal ...

  1. Energetic evaluation and performance of broilers in an aviary with a gas and burning wood1 automatic heating system

    OpenAIRE

    Sandro Ricardo Funck

    2006-01-01

    This work had as objective the assembly of a system automated for evaluation of the consumption of fuel in agricultural tractors, in the utilization of biodiesel in diverse mixtures diesel/biodiesel for the accomplishment of testing, without the utilization of the tank of the tractor. The system was projected and mounted on the UNIOESTE Cascavel - PR in partnership with the UTFPR Medianeira â PR. The system is composed for two auxiliary tanks confectioned in stainless steel ...

  2. Energetic certification in Europe

    International Nuclear Information System (INIS)

    1998-01-01

    At community level the problem of energy quality control in a building was introduced by EEC recommendation n. 93/76 in 1993. In this item are reported some notes on energetic certification in European countries [it

  3. Energetics Laboratory Facilities

    Data.gov (United States)

    Federal Laboratory Consortium — These energetic materials laboratories are equipped with explosion proof hoods with blow out walls for added safety, that are certified for safe handling of primary...

  4. Energetic evaluation of a mechanical dryer (flex) to familiar agriculture; Avaliacao energetica de um secador mecanico (FLEX) para cafeicultura familiar

    Energy Technology Data Exchange (ETDEWEB)

    Donzeles, Sergio M.L. [Empresa de Pesquisa Agropecuaria de Minas Gerais (CTZM/EPAMIG), Vicosa, MG (Brazil). Centro Tecnologico da Zona da Mata], E-mail: slopes@ufv.br; Silva, Juarez S.; Martin, Samuel; Nogueira, R.M.; Silva, Jadir N.; Zanata, Fabio L. [Universidade Federal de Vicosa (DEA/UFV), MG (Brazil). Dept. de Engenharia Agricola], Emails: juarez@ufv.br, jadir@ufv.br, samuel.martin@ufv.br

    2009-07-01

    Actually, the coffee is one of the most important exportation crops of the country. The utilization of obsolete or unsuitable processes, specifically related to the coffee drying, it can to damage the final quality of the product, besides to result in a low profitability of the coffee growing. In this work a mechanical drier (flex) was built, for the familiar coffee growing, being subsequently evaluated, to the drying of peeled cherry coffee, by the realization of two tests: one with heating of the air using vegetable coal and other combining the use of solar heater with vegetable coal. Basing on the results, it was possible to conclude that the drying of coffee in the mechanical drier Flex can be carried out using vegetable coal as fuel as well as associating the use of the vegetable coal with the solar collector, to save energy. (author)

  5. Quality and energetic evaluation of the charcoal made of babassu nut residues used in the steel industry

    Directory of Open Access Journals (Sweden)

    Thiago de Paula Protásio

    2014-10-01

    Full Text Available Brazil is the only country in the world that uses large scale charcoal in steel-making blast furnaces. Meantime, the monoculture plantations of Eucalyptus are not able to meet the demand for charcoal from the steel industries.Therefore, research is necessary, in order to use lignocellulosic residues for the production of charcoal with technological properties which are suitable for the reduction of iron ore. Given the above, the objective of this study was to evaluate the quality of charcoal which was made with babassu nut shell and designed for utilization in the steel industry in the function of the final carbonization temperature. All three layers of babassu nut shell (epicarp, mesocarp and endocarp were used together. The initial temperature of the test was 100ºC and the final temperatures were: 450ºC, 550ºC, 650ºC, 750ºC and 850ºC. For the charcoals produced, the following properties were determined: apparent relative density, energy density and fixed carbon stock, in addition to chemical compositions (immediate and elemental and heating values (higher and lower. Charcoal made of babassu nut shell showed high values of apparent density and energy density, and has a potential to replace coal and wood charcoal in the steel industry. The effect of the final carbonization temperature was expressed for all characteristics evaluated, except for the nitrogen content. Babassu nut shell must be carbonized at temperatures higher than 550ºC, so that the charcoal produced can be used in steel-making blast furnaces.

  6. Assessing the economic benefits of vaccines based on the health investment life course framework: a review of a broader approach to evaluate malaria vaccination.

    Science.gov (United States)

    Constenla, Dagna

    2015-03-24

    Economic evaluations have routinely understated the net benefits of vaccination by not including the full range of economic benefits that accrue over the lifetime of a vaccinated person. Broader approaches for evaluating benefits of vaccination can be used to more accurately calculate the value of vaccination. This paper reflects on the methodology of one such approach - the health investment life course approach - that looks at the impact of vaccine investment on lifetime returns. The role of this approach on vaccine decision-making will be assessed using the malaria health investment life course model example. We describe a framework that measures the impact of a health policy decision on government accounts over many generations. The methodological issues emerging from this approach are illustrated with an example from a recently completed health investment life course analysis of malaria vaccination in Ghana. Beyond the results, various conceptual and practical challenges of applying this framework to Ghana are discussed in this paper. The current framework seeks to understand how disease and available technologies can impact a range of economic parameters such as labour force participation, education, healthcare consumption, productivity, wages or economic growth, and taxation following their introduction. The framework is unique amongst previous economic models in malaria because it considers future tax revenue for governments. The framework is complementary to cost-effectiveness and budget impact analysis. The intent of this paper is to stimulate discussion on how existing and new methodology can add to knowledge regarding the benefits from investing in new and underutilized vaccines. Copyright © 2015 Elsevier Ltd. All rights reserved.

  7. The energetic significance of cooking.

    Science.gov (United States)

    Carmody, Rachel N; Wrangham, Richard W

    2009-10-01

    While cooking has long been argued to improve the diet, the nature of the improvement has not been well defined. As a result, the evolutionary significance of cooking has variously been proposed as being substantial or relatively trivial. In this paper, we evaluate the hypothesis that an important and consistent effect of cooking food is a rise in its net energy value. The pathways by which cooking influences net energy value differ for starch, protein, and lipid, and we therefore consider plant and animal foods separately. Evidence of compromised physiological performance among individuals on raw diets supports the hypothesis that cooked diets tend to provide energy. Mechanisms contributing to energy being gained from cooking include increased digestibility of starch and protein, reduced costs of digestion for cooked versus raw meat, and reduced energetic costs of detoxification and defence against pathogens. If cooking consistently improves the energetic value of foods through such mechanisms, its evolutionary impact depends partly on the relative energetic benefits of non-thermal processing methods used prior to cooking. We suggest that if non-thermal processing methods such as pounding were used by Lower Palaeolithic Homo, they likely provided an important increase in energy gain over unprocessed raw diets. However, cooking has critical effects not easily achievable by non-thermal processing, including the relatively complete gelatinisation of starch, efficient denaturing of proteins, and killing of food borne pathogens. This means that however sophisticated the non-thermal processing methods were, cooking would have conferred incremental energetic benefits. While much remains to be discovered, we conclude that the adoption of cooking would have led to an important rise in energy availability. For this reason, we predict that cooking had substantial evolutionary significance.

  8. Approaches and Obstacles to the Evaluation of Investment in Continuing Vocational Training: Discussion and Case Studies from Six Member States of the European Union. CEDEFOP Panorama. Discussion Paper/Case Studies.

    Science.gov (United States)

    Grunewald, Uwe; Moraal, Dick; Sorensen, John Houman; Luttringer, Jean-Marie; Pasco, Nicolas; Kohler, Alexander; Barrett, Alan; O'Connell, Philip; Garibaldo, Francesco; Lorenzoni, Stefan; Mandl, Dieter

    This report summarizes six case studies on different aspects of the issue of evaluating investing in continuing vocational training (CVT). Part 1 (chapters 1-2) contains "Conceptual Introduction" (Jean-Marie Luttringer), which explores practical problems in considering training expenses as an investment, and "Methodological…

  9. Photoactive energetic materials

    Science.gov (United States)

    Chavez, David E.; Hanson, Susan Kloek; Scharff, Robert Jason; Veauthier, Jacqueline Marie; Myers, Thomas Winfield

    2018-02-27

    Energetic materials that are photoactive or believed to be photoactive may include a conventional explosive (e.g. PETN, nitroglycerine) derivatized with an energetic UV-absorbing and/or VIS-absorbing chromophore such as 1,2,4,5-tetrazine or 1,3,5-triazine. Absorption of laser light having a suitably chosen wavelength may result in photodissociation, decomposition, and explosive release of energy. These materials may be used as ligands to form complexes. Coordination compounds include such complexes with counterions. Some having the formula M(L).sub.n.sup.2+ were synthesized, wherein M is a transition metal and L is a ligand and n is 2 or 3. These may be photoactive upon exposure to a laser light beam having an appropriate wavelength of UV light, near-IR and/or visible light. Photoactive materials also include coordination compounds bearing non-energetic ligands; in this case, the counterion may be an oxidant such as perchlorate.

  10. The ARRA investment in CER: a description of the midstream evaluation and how the funds were allocated and CER priorities addressed.

    Science.gov (United States)

    Esposito, Dominick; Yong, Pierre L; Rich, Eugene; Geonnotti, Kristin; Kimmey, Laura D

    2014-11-01

    To describe the evaluation design of the American Recovery and Reinvestment Act of 2009 comparative effectiveness research (CER) investment, how funds were allocated and how CER priorities were addressed. Primary and secondary data included information from redacted project proposals, an investigator survey and federal project officers, investigators and expert panel discussions. More than 420 projects (US$1.1 billion) were awarded. Those generating new or synthesizing existing CER made up the plurality (194, or US$524 million). Data infrastructure projects were the second-largest area (28%, US$302 million). More than three-fourths addressed at least one priority population, condition category or intervention category. These investments expanded the nation's CER activities and its future capacity to conduct CER.

  11. Energetics of the built environment

    Energy Technology Data Exchange (ETDEWEB)

    Yeang, K

    1974-07-01

    Energetics, the study of energy transformations within ecosystems, provide a useful framework for examining the relationships between the built environment (a manmade ecosystem) and the natural environment. Values are provided for using energy indices in modeling, comparing design alternatives, improving designed systems, conserving nonrenewable resources, comparing impacts, and studying energy utilization patterns as a whole. The accounting of the energy cost of a proposed project would provide additional criteria for evaluating the impact of human developments on the natural environment. (3 diagrams, 12 tables)

  12. The evaluation of Foreign Direct Investments and their impact in the economics of some transition countries: the case of Kosovo

    OpenAIRE

    Halil Kukaj; Anera Alishani

    2017-01-01

    The Foreign Direct Investment is suggested to have a positive impact on the economic growth of many countries, especially in the transition countries such as Kosovo. During the last century, the world has witnessed remarkable growth of FDI because they impact positively the overall strategy for economic and social development. This article will provide a general review of the FDIs and will focus on their economic implication on the developing countries and especially in Kosovo and some other ...

  13. Using cost-benefit analysis and social return on investment to evaluate the impact of social enterprise: Promises, implementation, and limitations.

    Science.gov (United States)

    Cordes, Joseph J

    2017-10-01

    Since the early 2000's there has been growing interest in using the Social Return on Investment (SROI) as a measure for assessing the performance of social enterprises. By analogy with its business counterpart, the Return on Investment (ROI), the SROI is a metric that compares the monetized social costs of a program with the monetized social benefits of achieving an outcome (or set of outcomes). For example, calculating the SROI of a nonprofit half-way house for drug addicts might involve estimating the reduced social costs attributable to successful rehabilitation of addicts, and comparing this to the social costs of operating the half-way house. Alternatively, the total return of a for-profit social enterprise providing affordable housing might consist both of the traditional private return on investment along with the economic value of meeting the housing needs of lower income households. Early descriptions of the methodology for calculating the SROI suggest that the approach initially evolved from standard methodologies found in the business finance literature for evaluating investments, with the important twist that nonprofit sector returns/payoffs are defined in broader social terms (Thornley, Anderson, & Dixon, 2016). Yet, someone who is familiar with the economic literature on cost benefit analysis (CBA) as it is applied to the evaluation of public programs cannot help but be struck by the similarity between the outcomes that CBA is intended to measure, and those that are the object of efforts to calculate the SROI. One implication is that the literature on the theory and practice of cost benefit analysis offers useful lessons about how to measure the social return on investment, as well as about potential caveats and limitations that need to be confronted when attempting to undertake an analysis of the SROI. The paper discusses the potential uses and limitations of CBA and SROI as tools that governments, private donor/investors, and foundations can use to

  14. The evaluation of Foreign Direct Investments and their impact in the economics of some transition countries: the case of Kosovo

    Directory of Open Access Journals (Sweden)

    Halil Kukaj

    2017-03-01

    Full Text Available The Foreign Direct Investment is suggested to have a positive impact on the economic growth of many countries, especially in the transition countries such as Kosovo. During the last century, the world has witnessed remarkable growth of FDI because they impact positively the overall strategy for economic and social development. This article will provide a general review of the FDIs and will focus on their economic implication on the developing countries and especially in Kosovo and some other Western Balkan countries. The paper will clarify the main causes of failure of foreign direct investments and will revile the importance of indicators that are mainly of institutional nature. It is estimated that FDIs impact the economic development of the host country through two main channels: firstly, FDIs increase the domestic capital and increase the efficiency through the improvement of managerial skills, the transfer of new technology or through the bringing of more effective marketing strategies, innovations and best practices, secondly: the effect of FDIs varies much from the specifications of the country in terms of their capacity to absorb the FDIs, the ability to diversify them and their ability to connect the FDIs with the domestic investments.

  15. Return on Scientific Investment – RoSI: a PMO dynamical index proposal for scientific projects performance evaluation and management

    Directory of Open Access Journals (Sweden)

    Cristofer André Caous

    2012-06-01

    Full Text Available Objective: To propose a measure (index of expected risks to evaluateand follow up the performance analysis of research projects involvingfinancial and adequate structure parameters for its development.Methods: A ranking of acceptable results regarding researchprojects with complex variables was used as an index to gauge aproject performance. In order to implement this method the ulcerindex as the basic model to accommodate the following variableswas applied: costs, high impact publication, fund raising, and patentregistry. The proposed structured analysis, named here as RoSI(Return on Scientific Investment comprises a pipeline of analysis tocharacterize the risk based on a modeling tool that comprises multiplevariables interacting in semi-quantitatively environments. Results:This method was tested with data from three different projects in ourInstitution (projects A, B and C. Different curves reflected the ulcer indexes identifying the project that may have a minor risk (project C related to development and expected results according to initial or full investment. Conclusion: The results showed that this model contributes significantly to the analysis of risk and planning as well as to the definition of necessary investments that consider contingency actions with benefits to the different stakeholders: the investor or donor, the project manager and the researchers.

  16. Forecast of nuclear energetics

    Energy Technology Data Exchange (ETDEWEB)

    Sikora, W

    1976-01-01

    The forecast concerning the development of nuclear energetics is presented. Some information on economics of nuclear power plants is given. The nuclear fuel reserves are estimated on the background of power resources of the world. The safety and environment protection problems are mentioned.

  17. Evaluation of the Current State of Investment and Innovation Activity of Enterprises in the Real Sector of Ukraine’s Economy

    Directory of Open Access Journals (Sweden)

    Andryeyeva Victoriya G.

    2016-02-01

    Full Text Available The article analyzes the main indicators of investment and innovation activity of enterprises in the real sector of Ukraine’s economy at the present stage. Capital investments in enterprises in the real sector of the economy by types of economic activity and of their structure by source of financing, the largest share of which are own resources of enterprises and organizations, have been analyzed. The main indicators of innovation activity of industrial enterprises and sources of financing of innovation activity have been analyzed. It is noted that the main problems of implementing innovation activity by enterprises in the real sector of Ukraine’s economy is the lack of a high-quality system of financial support, an effective legal framework for attracting foreign investors as well as the insufficient level of development of financial market participants. The authors conclude that the current state of investment and innovation activity of enterprises in the real sector of Ukraine’s economy is characterized by the existence of positive and negative trends, timely evaluation of which will enhance the competitiveness of entities in this sector of economy and ensure their sustainable development

  18. Trends in Business Investment

    OpenAIRE

    Lydon, Reamonn; Scally, John

    2014-01-01

    This article examines trends in business investment in Ireland. Consistent with the international evidence on investment cycles, we show that business investment in Ireland exhibits large cyclical movements around a long-run trend relative to GDP. Changes in business investment broadly coincide with the overall business cycle, although swings in investment tend to be far greater, with extended periods of both over- and under-investment relative to GDP. The sharp fall in business investment si...

  19. 12 CFR 228.23 - Investment test.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Investment test. 228.23 Section 228.23 Banks... COMMUNITY REINVESTMENT (REGULATION BB) Standards for Assessing Performance § 228.23 Investment test. (a) Scope of test. The investment test evaluates a bank's record of helping to meet the credit needs of its...

  20. 75 FR 31383 - Major Capital Investment Projects

    Science.gov (United States)

    2010-06-03

    ...-0009] RIN 2132-AB02 Major Capital Investment Projects AGENCIES: Federal Transit Administration (FTA... current approach to evaluating and rating major capital investment projects (``New Starts'' and ``Small...'' to address identified transportation needs in the corridor without a major capital investment in new...

  1. Application of numerical methods, derivatives theory and Monte Carlo simulation in evaluating BM&F BOVESPA's POP (Protected and Participative Investment

    Directory of Open Access Journals (Sweden)

    Giuliano Carrozza Uzêda Iorio de Souza

    2011-08-01

    Full Text Available This article presents a practical case in which two of the most efficient numerical procedures developed for derivative analysis are applied to evaluate the POP (Investment Protection with Participation, a structured operation created by São Paulo Stock Exchange - BM&FBOVESPA. The first procedure solves the differential equation through the use of implicit finite differences method. Due to its characteristics, the approach makes it possible to run sensitivity analysis as well as price estimation. In the second, the problem is solved by Monte Carlo simulation, which facilitates the identification of the probability related to the exercise of the embedded options.

  2. Physics of energetic ions

    International Nuclear Information System (INIS)

    1999-01-01

    Physics knowledge (theory and experiment) in energetic particles relevant to design of a reactor scale tokamak is reviewed, and projections for ITER are provided in this Chapter of the ITER Physics Basis. The review includes single particle effects such as classical alpha particle heating and toroidal field ripple loss, as well as collective instabilities that might be generated in ITER plasmas by energetic alpha particles. The overall conclusion is that fusion alpha particles are expected to provide an efficient plasma heating for ignition and sustained burn in the next step device. The major concern is localized heat loads on the plasma facing components produced by alpha particle loss, which might affect their lifetime in a tokamak reactor. (author)

  3. New approaches to screening infrastructure investments in multi-reservoir systems- Evaluating proposed dams in Ethiopia and Kenya

    Science.gov (United States)

    Harou, J. J.; Geressu, R. T.; Hurford, A. P.

    2014-12-01

    Two approaches have been used traditionally to screen infrastructure investments in multi-reservoir systems: scenario analysis of a few simulated designs and deterministic optimization, sometimes using hydro-economic models or screening optimization models. Simulation models realistically represent proposed water systems and can easily include multiple performance metrics; however each prospective system operating rules need to be formulated and simulated for each proposed design (time consuming. Optimization models have been used to overcome this burden. Screening optimization models use integer or non-linear programming and can be challenging to apply to large and/or multi-objective systems. Hydro-economic models that use deterministic (implicit stochastic) optimization must be modified to examine each different plan and they cannot always reproduce realistic or politically acceptable system operations. In this presentation we demonstrate the application of a new screening approach to multi-reservoir systems where operating rules and new assets (dams) are simultaneously optimized in a multi-criteria context. Results are not least cost investment plans that satisfy reliability or other engineering constraints, but rather Pareto-optimal sets of asset portfolios that work well under historical and/or future scenarios. This is achieved by using stakeholder-built simulation models linked to multi-criteria search algorithms (e.g. many objective evolutionary algorithms, MOEA). Typical output is demonstrated through two case-studies on the Tana and Blue Nile rivers where operating rules and reservoir assets are efficiently screened together considering stakeholder-defined metrics. The focus on the Tana system is how reservoir operating rules and new irrigation schemes should be co-managed to limit ecological damages. On the Nile system, we identify Blue Nile river reservoir capacities that least negatively impact downstream Nile nations. Limitations and new directions of

  4. Sustainable Markets Investment Briefings: Investment Treaties

    Energy Technology Data Exchange (ETDEWEB)

    Cotula, Lorenzo

    2007-08-15

    This is the second of a series of briefings which discuss the sustainable development issues raised by legal arrangements for the protection of foreign investment. The briefings are based on legal research by IIED and its partners. The goal is to provide accessible but accurate information for human rights, development and environmental organisations working on issues raised by foreign investment in low- and middle-income countries. Briefing 2 explains how investment treaties between states work to protect and promote foreign investment.

  5. Quantitative Evaluations of Foreign Direct Investments Impact on Productivity Development of Companies from Central and Eastern Europe

    Directory of Open Access Journals (Sweden)

    Marilen Pirtea

    2009-02-01

    Full Text Available The approach of the foreign direct investments impact belonging to multinational companies on host country companies and on national economy is an extremely complex and present-day interest issue in the context of globalization phenomena, which at this time puts a mark on the human society evolution. During this period of rapid changes, the economies of those countries, which find them crossing a development process, can benefit a significant increase of productivity and an enhanced access to new resources and commodity markets, but at the same time they are subject to considerable risks. The purpose of this paper is to bring an empirical support at the current level of research, taking into consideration a set of Central and Eastern European countries, including Romania.

  6. \\t Capital Planning and Investment Control (CPIC) for the Management of Information Technology Investments

    Science.gov (United States)

    Capital Planning and Investment Control (CPIC) is the Information Technology (IT) governance and management methodology in use at EPA for selecting, controlling and evaluating the performance of EPA IT investments throughout the full lifecycle.

  7. Evaluating the Influence of Criteria to Attract Foreign Direct Investment (FDI to Develop Supporting Industries in Vietnam by Utilizing Fuzzy Preference Relations

    Directory of Open Access Journals (Sweden)

    Tien-Chin Wang

    2016-05-01

    Full Text Available In the early 2000s, Vietnam’s government concentrated on the promotion of supporting industries which can be seen as a “key” solution to sustaining economic growth, thereby improving the national welfare. However, Vietnam’s supporting industries still exhibit lower development and competitive weakness. The main reason for this condition is due to a lack of capital, technological innovation, and necessary management skills for development. Therefore, attracting foreign direct investment (FDI for developing supporting industries offers the best strategy to realize this solution. However, attracting FDI to develop supporting industries represents a weakness which lies in both the quantity (total capital and projects and quality of investment. So which factors are effective to attract FDI for developing supporting industries in Vietnam? This investigation establishes an analytical hierarchy framework available to the Vietnamese government and to policymakers in order to evaluate the influence of criteria needed to attract FDI for developing supporting industries based on eight main criteria. They include legal and institutional criteria, the market size of supporting industries, human resources, infrastructure facilities, technological development and innovation, domestic supply capacity, international cooperation and competition, and other criteria. This paper uses fuzzy preference relations (FPR to evaluate the influence of criteria necessary to attract FDI for developing supporting industries, and these analytical results demonstrate that legal and institutional criteria, domestic supply capacity, human resources, technology development and innovation are all major considerations for attracting FDI.

  8. Economic evaluation and cost-effectiveness thresholds: signals to firms and implications for R & D investment and innovation.

    Science.gov (United States)

    Vernon, John A; Goldberg, Robert; Golec, Joseph

    2009-01-01

    In this article we describe how reimbursement cost-effectiveness thresholds, per unit of health benefit, whether set explicitly or observed implicitly via historical reimbursement decisions, serve as a signal to firms about the commercial viability of their R&D projects (including candidate products for in-licensing). Traditional finance methods for R&D project valuations, such as net present value analyses (NPV), incorporate information from these payer reimbursement signals to help determine which R&D projects should be continued and which should be terminated (in the case of the latter because they yield an NPV important for reimbursement thresholds to reflect the economic value of the unit of health benefit being considered for reimbursement. Thresholds set too low (below the economic value of the health benefit) will result in R&D investment levels that are too low relative to the economic value of R&D (on the margin). Similarly, thresholds set too high (above the economic value of the health benefit) will result in inefficiently high levels of R&D spending. The US in particular, which represents approximately half of the global pharmaceutical market (based on sales), and which seems poised to begin undertaking cost effectiveness in a systematic way, needs to exert caution in setting policies that explicitly or implicitly establish cost-effectiveness reimbursement thresholds for healthcare products and technologies, such as pharmaceuticals.

  9. The Integration of Ecosystem Services in Planning: An Evaluation of the Nutrient Retention Model Using InVEST Software

    Directory of Open Access Journals (Sweden)

    Stefano Salata

    2017-07-01

    Full Text Available Mapping ecosystem services (ES increases the awareness of natural capital value, leading to building sustainability into decision-making processes. Recently, many techniques to assess the value of ES delivered by different scenarios of land use/land cover (LULC are available, thus becoming important practices in mapping to support the land use planning process. The spatial analysis of the biophysical ES distribution allows a better comprehension of the environmental and social implications of planning, especially when ES concerns the management of risk (e.g., erosion, pollution. This paper investigates the nutrient retention model of InVEST software through its spatial distribution and its quantitative value. The model was analyzed by testing its response to changes in input parameters: (1 the digital terrain elevation model (DEM; and (2 different LULC attribute configurations. The paper increases the level of attention to specific ES models that use water runoff as a proxy of nutrient delivery. It shows that the spatial distribution of biophysical values is highly influenced by many factors, among which the characteristics of the DEM and its interaction with LULC are included. The results seem to confirm that the biophysical value of ES is still affected by a high degree of uncertainty and encourage an expert field campaign as the only solution to use ES mapping for a regulative land use framework.

  10. Energetics of bacterial photosynthesis.

    Science.gov (United States)

    Lebard, David N; Matyushov, Dmitry V

    2009-09-10

    We report the results of extensive numerical simulations and theoretical calculations of electronic transitions in the reaction center of Rhodobacter sphaeroides photosynthetic bacterium. The energetics and kinetics of five electronic transitions related to the kinetic scheme of primary charge separation have been analyzed and compared to experimental observations. Nonergodic formulation of the reaction kinetics is required for the calculation of the rates due to a severe breakdown of the system ergodicity on the time scale of primary charge separation, with the consequent inapplicability of the standard canonical prescription to calculate the activation barrier. Common to all reactions studied is a significant excess of the charge-transfer reorganization energy from the width of the energy gap fluctuations over that from the Stokes shift of the transition. This property of the hydrated proteins, breaking the linear response of the thermal bath, allows the reaction center to significantly reduce the reaction free energy of near-activationless electron hops and thus raise the overall energetic efficiency of the biological charge-transfer chain. The increase of the rate of primary charge separation with cooling is explained in terms of the temperature variation of induction solvation, which dominates the average donor-acceptor energy gap for all electronic transitions in the reaction center. It is also suggested that the experimentally observed break in the Arrhenius slope of the primary recombination rate, occurring near the temperature of the dynamical transition in proteins, can be traced back to a significant drop of the solvent reorganization energy close to that temperature.

  11. Energetic cost of communication.

    Science.gov (United States)

    Stoddard, Philip K; Salazar, Vielka L

    2011-01-15

    Communication signals may be energetically expensive or inexpensive to produce, depending on the function of the signal and the competitive nature of the communication system. Males of sexually selected species may produce high-energy advertisement signals, both to enhance detectability and to signal their size and body condition. Accordingly, the proportion of the energy budget allocated to signal production ranges from almost nothing for many signals to somewhere in excess of 50% for acoustic signals in short-lived sexually selected species. Recent data from gymnotiform electric fish reveal mechanisms that regulate energy allocated to sexual advertisement signals through dynamical remodeling of the excitable membranes in the electric organ. Further, males of the short-lived sexually selected species, Brachyhypopomus gauderio, trade off among different metabolic compartments, allocating energy to signal production while reducing energy used in other metabolic functions. Female B. gauderio, by contrast, do not trade off energy between signaling and other functions. To fuel energetically expensive signal production, we expect a continuum of strategies to be adopted by animals of different life history strategies. Future studies should explore the relation between life history and energy allocation trade-offs.

  12. Energetics Manufacturing Technology Center (EMTC)

    Data.gov (United States)

    Federal Laboratory Consortium — The Energetics Manufacturing Technology Center (EMTC), established in 1994 by the Office of Naval Research (ONR) Manufacturing Technology (ManTech) Program, is Navy...

  13. Analysis of energetic exploitation of straw in Vojvodina

    International Nuclear Information System (INIS)

    Dodic, Sinisa N.; Dodic, Jelena M.; Popov, Stevan D.; Zekic, Vladislav N.; Rodic, Vesna O.; Tica, Nedeljko Lj.

    2011-01-01

    The Autonomous Province of Vojvodina is an autonomous province in the Republic of Serbia. It is located in the northern part of the country, in the Pannonia plain. Vojvodina is an energy-deficient province. The average yearly quantity of the cellulose wastes in Vojvodina amounts to about 9 millions tons barely in the agriculture, and the same potential on the level of Serbia estimates to almost 13 million tons. This study gives the analysis of energetic exploitation of straws from stubble cereals processed in different forms. Costs for the equipment that uses biomass in the EU are approximately two times higher with respect to those for the equipment for combustion of natural gas or of fuel oil. Costs of investments for combustion of biomass in Vojvodina if compared with the cited data are approximately for 40-50% lower. The difference of the investment costs for the construction of such units is because units for straw combustion designed and constructed in our country, have neither the complicated devices for manipulation of fuels, nor the devices for the waste gasses processing. The definite conclusions about the economic justification of the energetic exploitation of stubble straws can be obtained only by comparison of costs of the so obtained energy, with the costs of energy obtained through the combustion of classical fuels. Previous comparisons were the most often based on the comparisons of value of prices of the equivalent straw quantity with the process of fuel oil of other classical fuels. Such the comparisons leaded to the very positive evaluations of the economical effects of straws, without taking into account the realizability of the named method. Namely, comparisons of straw and fuel oil hardly could lead to the conclusion that these two fuels are mutually substitutable. According to its physical properties, straw is most similar to firewood, but the preciousness and lacking of this the very resource excludes it from the comparative analysis, so

  14. 75 FR 55372 - Tudor Employee Investment Fund LLC and Tudor Investment Corporation; Notice of Application

    Science.gov (United States)

    2010-09-10

    ... management business, the Fund Investors will be able to understand and evaluate the attendant risks... Investment Fund (other than investment objectives and strategies and form of organization) (the ``Subsequent... will operate as a non-diversified closed-end management investment company. Each Fund will be an...

  15. VALUATION AND INVESTMENT PROFESSION

    Directory of Open Access Journals (Sweden)

    Lidija Dedi

    2013-06-01

    Full Text Available Investment professionals, particularly financial analysts or security analysts evaluate securities and try to determine characteristics of securities and to identify mispriced securities. For that purpose they use different models to estimate the intrinsic value of the common stocks. Traditional valuation models based on the present value of future cash flows are affected by estimated growth rate of the variable used and by the investor’s required rate of return. These models can be used for valuing fixed income securities, such as bonds and preferred stocks. However, in valuing companies with significant growth opportunities they have to expand traditional analysis with option valuation.

  16. Evaluating the impact of public space investments with limited time and funds: (methodological) lessons from a Swiss case study

    Energy Technology Data Exchange (ETDEWEB)

    Barjak, F.

    2016-07-01

    The paper suggests a methodology for evaluating innovation support policies and funding in the space sector. Previous evaluations have suggested methodologies which require considerable time and resources. Our approach combines a data collection at organisational level through standardised interviews and at project level through an online survey which are relatively quick to implement and less costly. We demonstrate that valid results can be obtained with such an approach. (Author)

  17. 13 CFR 301.7 - Investment Assistance proposal.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Investment Assistance proposal... COMMERCE ELIGIBILITY, INVESTMENT RATE AND PROPOSAL AND APPLICATION REQUIREMENTS Proposal and Application Requirements; Evaluation Criteria § 301.7 Investment Assistance proposal. (a) The EDA Investment Assistance...

  18. The Importance of Investment Decisions in Project Management

    Directory of Open Access Journals (Sweden)

    Cosmina Mădălina Pop

    2008-10-01

    Full Text Available The financing decision alongside with investment decision represents the core of financial management. The paper presents the main steps in realizing investment projects, the option criteria used in pre-investment analysis, the techniques of financing the investments project, but also the methods of evaluation applied in selecting the most suitable project, accordingly with company’s developlment strategy and policy.

  19. Energetic dialog EU and Russia slows

    International Nuclear Information System (INIS)

    Hirman, K.

    2004-01-01

    European Union maintains an individual dialog with Russia about cooperation in energy sphere since joint summit in Paris in October 2000. Both sides agreed there to create four export groups: for energy strategy, investments, infrastructure and technologies, efficiency and ecology. European Union expects that Russia will unequivocally take over the obligations by creation of suitable climate for investors. European Union considers as key preconditions the restructuring of the largest national monopoles. These conditions are also the important component of asking strategy of EU by the discussions about integration of Russia to WTO. One of the most important requests of Brussels is the restructuring of Gazprom concern, what means its division to mining and transport part. Russian part refuses all steps in this sphere. Author analyses the strategic interests of Russian government and of president Putin by planning and mining of oil and gas as like as by investments to the pipelines and gas lines. International Energetic Agency (IEA) assumes that the investments to oil and gas mining in Russia will be around 330 million USD till 2030. The similar situation is also in oil sector. More than half of huge oil deposits with the highest output are already mined. The oil mining in Russia reached 421 million tons in 2003. According to pessimistic estimations the gas mining will reach from 550 to 560 billion m 3 in the following decades, according to optimistic scenario it can reach up to 730 billion m 3 per year. In this case the netto export of oil from Russia could rise from present around 175 billion m 3 to 280 billion m 3 in 2030. IEA warns that these plans should be fulfilled only if massive foreign investments enter this sector. IEA also warns before concerns of investors about Russian legislation, property protection, cooperative regulation and transparentness of undertaking. Proposed pipelines among Russia, Near East, Africa and European Union are shown

  20. On attracting investment to Russian economy

    Directory of Open Access Journals (Sweden)

    Oleinik Elena

    2017-01-01

    Full Text Available Modern conditions of economic systems development have necessitated more precise directions of investment process for the economic growth to accelerate. The precipitous fall of oil prices that occurred in the second half of 2014 weighed heavily on foreign direct investment flows to oilexporting countries. The problem of attracting investment is one of the key problems of economic development. The aim of this study is to analyze and evaluate the shifts in the structure of investments, the study of the structure of investments to the Russian economy. Structural changes result from differences in the growth rate of the elements forming an economic system. An integral coefficient has been used for evaluation of structural changes. Multiple regression was used to analyze the impact of various factors on the change in structure of investment. The regression coefficients in the model give quantitative assessment of the pace of change in the structure as it depends on a specific factor. The model estimation shows that the variables “share of investments in manufacturing” (positive influence and “share of investments in the health, physical culture, education” (negative influence have the largest t-values. Hence, these two factors influence the structural changes in investments most strongly The evaluation and analysis of the structural shifts may lead to conclusions regarding the efficiency of the structure investment and adjustment of the economic policy.

  1. About Russian nuclear energetic perspectives

    International Nuclear Information System (INIS)

    Laletin, N.I.

    2003-01-01

    My particular view about Russian nuclear energetics perspectives is presented. The nearest and the further perspectives are considered. The arguments are adduced that the most probable scenario of nuclear energetic development is its stabilization in the near future. Fur further development the arguments of supporters and opponents of nuclear energetics are analyzed. Three points of view are considered. The first point of view that there is not alternative for nuclear energetics. My notes are the following ones. a) I express a skeptic opinion about a statement of quick exhaustion of fossil organic fuel recourses and corresponding estimations are presented. b) It is expressed skeptic opinion about the statement that nuclear energetics can have a visual influence on ''steam effect''. c) I agree that nuclear energetics is the most ecological technology for normal work but however we can't disregard possibilities of catastrophic accidents. The second point of view that the use of nuclear energetics can't have the justification. I adduce the arguments contrary to this statement. The third point of view that nuclear energetics is a usual technology and the only criteria for discussions about what dimension and where one ought develop it is total cost of its unit. Expressed an opinion that the deceived for the choose of a way the skill of the estimate correctly and optimized so named the external parts of the unit energy costs for different energy technologies. (author)

  2. Rural energetic development: cuban experience

    International Nuclear Information System (INIS)

    Aguilera Barciela, M.

    1994-01-01

    The development of electro energetic national system in Cuba has been directed to the following objectives: to brake the rural population's exodus toward the cities, electrification of dairy farm, interconnection to the system electro energetic of all the sugar central production, these improves the rural population's conditions life

  3. Energetic and economic optimization of industrial systems compared

    International Nuclear Information System (INIS)

    LeGoff, P.; Rivero, R.; de Oliverira, S.; Schwarzer, B.

    1990-01-01

    Industrial processes can be represented as open systems where available energy (exergy) enters, utilized energy (exergy content of goods and services) exits and degraded energy (destroyed exergy) is rejected into the environment. The overall evaluation of each process can be made according to an energy accounting (in terms of exergy or of primary fossil energy) or a financial accounting (in terms of national or foreign currency). In any case, the process can be optimized by determining the best compromise between the costs of the various input fluxes. According to the needs of the decision maker one can choose the most convenient value criterion which would be to minimize: the total cost in national currency, for a project engineer working for a private company; the payments in foreign currency, for a public organization; the total energy consumption, for a hypothetical decision maker responsible for the world's non renewable fossil energy; the entropy production in order to increase the thermodynamic efficiency of the process. This paper presents and compares some examples of energetic and economic optimizations, according to various criteria. The examples given concern a heat exchanger, the drying of beet pulp and some heat transformers for upgrading industrial waste heat. Furthermore, the authors generalize the concept of pay-back time through the ratio of the invested capital cost and of the operating cost given in terms of exergy or of primary energy. Numerical values are given for an oil-fired boiler

  4. Energetic evaluation of low potential biomass gasifier coupled with a burner of the produced gas for generation of heat; Avaliacao energetica de um gaseificador de biomassa de baixa potencia, associado a um combustor do gas produzido, para geracao de calor

    Energy Technology Data Exchange (ETDEWEB)

    Martin, Samuel [Universidade de Brasilia (FAV/UNB), DF (Brazil). Fac. de Agronomia e Medicina Veterinaria], email: samuelmartin@unb.nr; Silva, Jadir Nogueira [Universidade Federal de Vicosa (UFV), MG (Brazil). Dept. de Engenharia Agricola; Machado, Cassio Silva; Zanatta, Fabio Luis; Galvarro, Svetlana F.S. [Universidade Federal de Vicosa (UFV), MG (Brazil)

    2011-07-01

    In the search of alternatives for sustainable socio-economic development, this study had the objective of evaluating the energetic performance of a concurrent flow biomass gasifier associated with a burner for the gas produced which was of low potential for air heating using a renewable energy source (substituting non-renewable). In this system 4 tests were performed using eucalyptus chips (tests 1 and 2) and logs (tests 3 and 4) as fuel, for the two fan motor frequencies of 60 and 50 hertz. Temperature in the combustion chamber was monitored, along with fuel consumption and other variables. In the tests, the average exhaust air temperature was maintained between 92.7 and 100.4 deg C, and the reduction in the motor frequency from 60 to 50 Hz caused an increase in the duration of the tests. The system presented the best energetic performance when utilizing a frequency of 60 Hz for both fuel types. However, the results of energy efficiency varied very little when comparing tests performed at the same fan frequency. Thus, the gasification process was little affected by variation in the physical characteristics of the tested fuels, and it was recommended that the equipment operate with a frequency of 60 Hz. (author)

  5. Return on Educational Investment: 2014. A District-by-District Evaluation of U.S. Educational Productivity

    Science.gov (United States)

    Boser, Ulrich

    2014-01-01

    In 2011, the Center of American Progress (CAP) released the first-ever attempt to evaluate the productivity of almost every major school district in the country. That project developed a set of relatively simple productivity metrics in order to measure the achievement that a school district produces relative to its spending, while controlling for…

  6. Investment innovation trends: Factor-based investing

    Directory of Open Access Journals (Sweden)

    Sanja Centineo

    2017-05-01

    Full Text Available This article shows that it can take a long period of time until research knowledge finds its application in practice and get disseminated as innovation trend. Factor-based investing is such an example. Having its developing roots in the nineties, it took more than two decades until this approach was detected by the by investment community. The goal of this article is to recall the definition of factor investing, present its historical evolvement and motivate its recent break-through and current trend among investment practitioners (known also under the notion smart beta. It aims at familiarizing with this investment approach from a practical perspective and highlighting its diversifying benefits in a portfolio context with the potential to outperform the market on risk-adjusted basis.

  7. Portfolio optimization in the cryptocurrency market : an evaluation of the performance of momentum strategies in the cryptocurrency market and cryptocurrency’s place in an optimized investment portfolio

    OpenAIRE

    Bjordal, Andreas; Opdahl, Espen

    2017-01-01

    In this paper, we rigorously investigate the benefit of utilizing an active investment strategy based on momentum when investing in cryptocurrencies. We also examine how including cryptocurrencies in a more traditional asset allocation can optimize an investment portfolio. First, we create strategies with the use of exponential moving averages and simple average filters to generate a trading signal. Second, we provide evidence that the active strategies receive positive return,...

  8. Improved model for the calculation of the energy demand for the energetic evaluation of non-residential buildings; Verbessertes Modell zur Berechnung des Energiebedarfs zur energetischen Bewertung von Nichtwohngebaeuden

    Energy Technology Data Exchange (ETDEWEB)

    Kempf, Heike

    2011-06-29

    The German Industrial Norm DIN V 18599, which is related to the German Energieeinsparverordnung (EnEV), addresses the energetic evaluation of nonresidential buildings. With its more than 800 pages it is very voluminous and complex. Due to the complex subject of DIN V 18599, discrepancies causing considerable differences in the overall result are possible. A further weak point in the current procedure for energetic evaluation is the composition of individual zones within the considered buildings and the subsequent effort for acquisition and determination of values needed during computation. Before a non-residential building can be evaluated energetically, the building has to be divided into individual areas with identical boundary conditions (zoning). The process of zoning is an elementary step within the balancing according to DIN V 18599. It provides, beside the determination of geometrical data, the basis for further computations. Thus, the energetic evaluation of non-residential buildings is based on the so-called Multiple-Zone-Model as described in DIN V 18599. Zoning, especially the gathering of data connected to it, is a very time-consuming task, because the building areas and volumes have to be determined for each zone individually. Nevertheless, zoning is mandatory because of the often completely different net energies to be provided. In order to reduce this effort, a Single-Zone-Model was added to the Energieeinsparverordnung, which may be used under certain preconditions. However, in comparison to the Multi-Zone-Model, differences in the evaluation results are possible. The elimination of weak points, that is to say the difference in time and result, is reached by the computation of the annual primary energy demand on the basis of an Improved-Single-Zone-Model. The Improved-Single-Zone-Model works with improved use values and includes computations of the Single-Zone-Model as well as the Multiple-Zone-Model. The advantage of the Improved

  9. Toward evaluating the effect of climate change on investments in the water resources sector: insights from the forecast and analysis of hydrological indicators in developing countries

    International Nuclear Information System (INIS)

    Strzepek, Kenneth; Jacobsen, Michael; Boehlert, Brent; Neumann, James

    2013-01-01

    The World Bank has recently developed a method to evaluate the effects of climate change on six hydrological indicators across 8951 basins of the world. The indicators are designed for decision-makers and stakeholders to consider climate risk when planning water resources and related infrastructure investments. Analysis of these hydrological indicators shows that, on average, mean annual runoff will decline in southern Europe; most of Africa; and in southern North America and most of Central and South America. Mean reference crop water deficit, on the other hand, combines temperature and precipitation and is anticipated to increase in nearly all locations globally due to rising global temperatures, with the most dramatic increases projected to occur in southern Europe, southeastern Asia, and parts of South America. These results suggest overall guidance on which regions to focus water infrastructure solutions that could address future runoff flow uncertainty. Most important, we find that uncertainty in projections of mean annual runoff and high runoff events is higher in poorer countries, and increases over time. Uncertainty increases over time for all income categories, but basins in the lower and lower-middle income categories are forecast to experience dramatically higher increases in uncertainty relative to those in the upper-middle and upper income categories. The enhanced understanding of the uncertainty of climate projections for the water sector that this work provides strongly support the adoption of rigorous approaches to infrastructure design under uncertainty, as well as design that incorporates a high degree of flexibility, in response to both risk of damage and opportunity to exploit water supply ‘windfalls’ that might result, but would require smart infrastructure investments to manage to the greatest benefit. (letter)

  10. Toward evaluating the effect of climate change on investments in the water resources sector: insights from the forecast and analysis of hydrological indicators in developing countries

    Science.gov (United States)

    Strzepek, Kenneth; Jacobsen, Michael; Boehlert, Brent; Neumann, James

    2013-12-01

    The World Bank has recently developed a method to evaluate the effects of climate change on six hydrological indicators across 8951 basins of the world. The indicators are designed for decision-makers and stakeholders to consider climate risk when planning water resources and related infrastructure investments. Analysis of these hydrological indicators shows that, on average, mean annual runoff will decline in southern Europe; most of Africa; and in southern North America and most of Central and South America. Mean reference crop water deficit, on the other hand, combines temperature and precipitation and is anticipated to increase in nearly all locations globally due to rising global temperatures, with the most dramatic increases projected to occur in southern Europe, southeastern Asia, and parts of South America. These results suggest overall guidance on which regions to focus water infrastructure solutions that could address future runoff flow uncertainty. Most important, we find that uncertainty in projections of mean annual runoff and high runoff events is higher in poorer countries, and increases over time. Uncertainty increases over time for all income categories, but basins in the lower and lower-middle income categories are forecast to experience dramatically higher increases in uncertainty relative to those in the upper-middle and upper income categories. The enhanced understanding of the uncertainty of climate projections for the water sector that this work provides strongly support the adoption of rigorous approaches to infrastructure design under uncertainty, as well as design that incorporates a high degree of flexibility, in response to both risk of damage and opportunity to exploit water supply ‘windfalls’ that might result, but would require smart infrastructure investments to manage to the greatest benefit.

  11. Accessibility evaluation model to support decision-making in urban investments : the case of Santarém-Brazil

    OpenAIRE

    Ramos, Rui A. R.; Rodrigues, Daniel Souto; Tobias, Maisa

    2011-01-01

    The main goal of the paper is to present an accessibility evaluation model for the urban area of Santarém, in Brazil. Located midway between the larger cities of Belém and Manaus, Santarém plays a crucial role in the region of Lower Amazonia. The paper describes the research instruments, sampling method and data analysis proposed for mapping urban accessibility. Basic activities (education, health, services, leisure and commerce) provided by the city were used to identify the main key-destina...

  12. Investment in Developing Countries

    Science.gov (United States)

    Motooka, Takeshi

    1973-01-01

    The fundamental problems of investment in rural education in the present developing countries are analyzed. Needs of rural education are outlined and financial considerations related to investment in the improvement of rural educational programs are discussed. (SM)

  13. Quantitative investment analysis

    CERN Document Server

    DeFusco, Richard

    2007-01-01

    In the "Second Edition" of "Quantitative Investment Analysis," financial experts Richard DeFusco, Dennis McLeavey, Jerald Pinto, and David Runkle outline the tools and techniques needed to understand and apply quantitative methods to today's investment process.

  14. Electrical initiation of an energetic nanolaminate film

    Science.gov (United States)

    Tringe, Joseph W.; Gash, Alexander E.; Barbee, Jr., Troy W.

    2010-03-30

    A heating apparatus comprising an energetic nanolaminate film that produces heat when initiated, a power source that provides an electric current, and a control that initiates the energetic nanolaminate film by directing the electric current to the energetic nanolaminate film and joule heating the energetic nanolaminate film to an initiation temperature. Also a method of heating comprising providing an energetic nanolaminate film that produces heat when initiated, and initiating the energetic nanolaminate film by directing an electric current to the energetic nanolaminate film and joule heating the energetic nanolaminate film to an initiation temperature.

  15. Socially Responsible Investment in Japanese Pensions

    OpenAIRE

    Henry Hongbo Jin; Olivia S. Mitchell; John Piggott

    2005-01-01

    As the level of retirement-related assets has grown, so too has public and private interest in so-called "Socially Responsible Investment" (SRI), an investment strategy that employs criteria other than the usual financial risk and return factors when selecting firms in which to invest. This study evaluates whether SRI indexes would alter portfolio risk and return patterns for the new defined contribution pension plans currently on offer in Japan. We conclude that SRI funds can be included as ...

  16. Optimal Responsible Investment

    DEFF Research Database (Denmark)

    Jessen, Pernille

    The paper studies retail Socially Responsible Investment and portfolio allocation. It extends conventional portfolio theory by allowing for a personal value based investment decision. When preferences for responsibility enter the framework for mean-variance analysis, it yields an optimal...... responsible investment model. An example of index investing illustrates the theory. Results show that it is crucial for the responsible investor to consider portfolio risk, expected return, and responsibility simultaneously in order to obtain an optimal portfolio. The model enables responsible investors...

  17. Investment in capital markets

    OpenAIRE

    Ledenyov, Dimitri O.; Ledenyov, Viktor O.

    2017-01-01

    Investment in Capital Markets creates a strategic vision on the financial capital investment in the capital markets with the aim to get an increased return premium in the short and long time periods. The book is written with a main goal to explain the pros and cons of the financial capital investment in the capital markets, discussing the sophisticated investment concepts and techniques in the simple understandable readable general format language. We would like to highlight the three interes...

  18. Pension Fund Investment Policy

    OpenAIRE

    Zvi Bodie

    1988-01-01

    The purpose of this paper is to survey what is known about the investment policy of pension funds. Pension fund investment policy depends critically on the type of plan: defined contribution versus defined benefit. For defined contribution plans investment policy is not much different than it is for an individual deciding how to invest the money in an Individual Retirement Account (IRA). The guiding principle is efficient diversification, that is, achieving the maximum expected return for any...

  19. Static and Dynamic Energetic Disorders in the C 60 , PC 61 BM, C 70 , and PC 71 BM Fullerenes

    KAUST Repository

    Tummala, Naga Rajesh; Zheng, Zilong; Aziz, Saadullah G.; Coropceanu, Veaceslav; Bré das, Jean Luc

    2015-01-01

    We use a combination of molecular dynamics simulations and density functional theory calculations to investigate the energetic disorder in fullerene systems. We show that the energetic disorder evaluated from an ensemble average contains

  20. Billions on the Sidewalk: Improving Savings by Reducing Investment Mistakes

    OpenAIRE

    Ugo Panizza

    2015-01-01

    This paper contributes the on-going debate on income inequality in advanced economies with a proposal aimed at reducing costly investment mistakes that are prevalent among middle-class households. The paper starts by describing how households should invest, compares it with what we know about how households do invest, and highlights discrepancies between the two (investment mistakes). After evaluating the costs of investment mistakes, the paper suggests that they could be reduced by accommoda...

  1. Neoclassical transport of energetic beam ions in the Large Helical Device

    International Nuclear Information System (INIS)

    Murakami, Sadayoshi; Yamada, Hiroshi; Kaneko, Osamu

    2000-01-01

    The neoclassical (collisional) transport of energetic ions is investigated by the global neoclassical transport simulation in the Large Helical Device (LHD). The steady state distributions of energetic ions are evaluated assuming an energetic particle source by NBI heating (tangentally injected). Significant radial transport of energetic ions can be seen due to the radial motion of trapped particles in the velocity region below near critical velocity. Our simulation results show relatively good agreements with the experimental results of fast particle measurements in the LHD. This suggests an important role of neoclassical transport in the radial transport process of energetic ions in heliotrons. (author)

  2. Sustainable Markets Investment Briefings: Foreign investment contracts

    Energy Technology Data Exchange (ETDEWEB)

    Cotula, Lorenzo

    2007-08-15

    This is the fourth of a series of briefings which discuss the sustainable development issues raised by legal arrangements for the protection of foreign investment. The briefings are based on legal research by IIED and its partners. The goal is to provide accessible but accurate information for human rights, development and environmental organisations working on issues raised by foreign investment in low- and middle-income countries. Briefing 4 sets out some of the ways in which foreign investment contracts can impact on sustainable development.

  3. Energetic solar particles

    International Nuclear Information System (INIS)

    Biswas, M.

    1975-01-01

    In this review, some of the important aspects of energetic solar particles and their relation to solar physics are discussed. The major aspects of solar cosmic ray studies currently under investigation are identified and attention is focussed on the problems of the physical processes in the sun which may be responsible for these phenomena. The studies of the composition and energy spectra of solar cosmic ray nuclei are related to the basic problem of particle acceleration process in sun and to the composition of elements in solar atmosphere. The composition of higher energy (>20 MeV/amu) multiply charged nuclei of He, C, N, O, Ne, Mg, Si and Fe give information on the abundance of elements in the solar atmosphere. At lower energies (approximately 1-10 MeV/amu), the abundances of these elements show enhancements relative to solar abundances and these enhancements are believed to be due to particle acceleration mechanisms operative in the sun which are not fully understood at present. Studies of the relative abundances of H 2 , H 3 and He 3 isotopes and Li, Be, B nuclei in the solar cosmic rays can also be studied. The question of the relationship of the accelerated particles in the sun to the optical flare phenomena is discussed. Further studies of different aspects of these phenomena may give important clues to a wide ranging phenomena in the active sun. The observational methods employed for these studies are mentioned. (A.K.)

  4. Analysis of the energetic sector through the national energetic matrix

    International Nuclear Information System (INIS)

    Garzon Lozano, Enrique

    2007-01-01

    The author shows the results of the national energetic balance 1975-2005, through the energetic matrix of the country, giving an annual growth of 5.1% in this period of offer of primary energy, where the mineral coal participates with 9,6%, the hydraulic energy with 4,8%, natural gas with 4,2%, trash with 2,4% and petroleum with 2,2%, while the firewood fell in 0,5%

  5. Investing in systematic factor premiums

    NARCIS (Netherlands)

    Koedijk, Kees G.; Slager, Alfred M. H.; Stork, P.A.

    In this paper we investigate and evaluate factor investing in the US and Europe for equities and bonds. We show that factor-based portfolios generally produce comparable or better portfolios than market indices. We expand the analysis to other asset classes and factors, work with other optimisation

  6. Action Investment Energy Games

    DEFF Research Database (Denmark)

    Larsen, Kim Guldstrand; Laursen, Simon; Srba, Jiri

    2012-01-01

    We introduce the formalism of action investment energy games where we study the trade-off between investments limited by given budgets and resource constrained (energy) behavior of the underlying system. More specifically, we consider energy games extended with costs of enabling actions and fixed...... budgets for each player. We ask the question whether for any Player 2 investment there exists a Player 1 investment such that Player 1 wins the resulting energy game. We study the action investment energy game for energy intervals with both upper and lower bounds, and with a lower bound only, and give...

  7. Energetic policies 2005-2030

    International Nuclear Information System (INIS)

    2008-01-01

    This power point exhibition shows the following topics: energy analysis, production and use, supply and demand, consumption, energy sources, energetic prospective of Uruguay country, medium and long term perspectives.

  8. Optimal Responsible Investment

    DEFF Research Database (Denmark)

    Jessen, Pernille

    Numerous institutions are now engaged in Socially Responsible Investment or have signed the "UN Principles for Responsible Investment". Retail investors, however, are still lacking behind. This is peculiar since the sector constitutes key stakeholders in environmental, social and governmental...... standards. This paper considers optimal responsible investment for a small retail investor. It extends conventional portfolio theory by allowing for a personal-value based investment decision. Preferences for responsibility are defined in the framework of mean-variance analysis and an optimal responsible...... investment model identified. Implications of the altered investment problem are investigated when the dynamics between portfolio risk, expected return and responsibility is considered. Relying on the definition of a responsible investor, it is shown how superior investment opportunities can emerge when...

  9. Energetic and exergetic analysis of waste heat recovery systems in the cement industry

    International Nuclear Information System (INIS)

    Karellas, S.; Leontaritis, A.-D.; Panousis, G.; Bellos, E.; Kakaras, E.

    2013-01-01

    In a typical cement producing procedure, 25% of the total energy used is electricity and 75% is thermal energy. However, the process is characterized by significant heat losses mainly by the flue gases and the ambient air stream used for cooling down the clinker (about 35%–40% of the process heat loss). Approximately 26% of the heat input to the system is lost due to dust, clinker discharge, radiation and convection losses from the kiln and the preheaters. A heat recovery system could be used to increase the efficiency of the cement plant and thus contribute to emissions decrease. The aim of this paper is to examine and compare energetically and exergetically, two different WHR (waste heat recovery) methods: a water-steam Rankine cycle, and an Organic Rankine Cycle (ORC). A parametric study proved that the water steam technology is more efficient than ORC in exhaust gases temperature higher than 310 °C. Finally a brief economic assessment of the most efficient solution was implemented. WHR installations in cement industry can contribute significantly in the reduction of the electrical consumptions operating cost thus being a very attractive investment with a payback period up to 5 years. - Highlights: • This paper presents waste heat recovery as a way to gain energy from the exhaust gases in a cement plant. • Water steam cycle and ORC has been analyzed for waste heat recovery. • The energetic and exergetic evaluation of the two waste heat recovery processes is presented and compared

  10. Retrospective Benefit-Cost Evaluation of U.S. DOE Wind Energy R&D Program: Impact of Selected Energy Technology Investments

    Energy Technology Data Exchange (ETDEWEB)

    Pelsoci, Thomas M. [Delta Research Co., Evanston, IL (United States)

    2010-06-01

    This benefit-cost analysis focuses on the DOE Wind Energy Program's public sector R&D investments and returns. The analysis accounts for the program's additionality – that is, comparing what has happened as a result of the program to what would have happened without it. The analysis does not address the return on the investments of private companies ("private returns"). Public returns on the program's investments from 1976 to 2008 are identified and analyzed using retrospective analysis.

  11. Musical Tasks and Energetic Arousal.

    Science.gov (United States)

    Lim, Hayoung A; Watson, Angela L

    2018-03-08

    Music is widely recognized as a motivating stimulus. Investigators have examined the use of music to improve a variety of motivation-related outcomes; however, these studies have focused primarily on passive music listening rather than active participation in musical activities. To examine the influence of participation in musical tasks and unique participant characteristics on energetic arousal. We used a one-way Welch's ANOVA to examine the influence of musical participation (i.e., a non-musical control and four different musical task conditions) upon energetic arousal. In addition, ancillary analyses of participant characteristics including personality, age, gender, sleep, musical training, caffeine, nicotine, and alcohol revealed their possible influence upon pretest and posttest energetic arousal scores. Musical participation yielded a significant relationship with energetic arousal, F(4, 55.62) = 44.38, p = .000, estimated ω2 = 0.60. Games-Howell post hoc pairwise comparisons revealed statistically significant differences between five conditions. Descriptive statistics revealed expected differences between introverts' and extraverts' energetic arousal scores at the pretest, F(1, 115) = 6.80, p = .010, partial η2= .06; however, mean differences failed to reach significance at the posttest following musical task participation. No other measured participant characteristics yielded meaningful results. Passive tasks (i.e., listening to a story or song) were related to decreased energetic arousal, while active musical tasks (i.e., singing, rhythm tapping, and keyboard playing) were related to increased energetic arousal. Musical task participation appeared to have a differential effect for individuals with certain personality traits (i.e., extroverts and introverts).

  12. Capital investment strategies in health care systems.

    Science.gov (United States)

    Reiter, K L; Smith, D G; Wheeler, J R; Rivenson, H L

    2000-01-01

    Capital investment decisions are among the most important decisions made by firms. They determine the firm's capacity for providing services and commit the firm's cash for an extended period of time. Interviews with chief financial officers of leading health care systems reveal capital investment strategies that generally follow the recommendations of modern finance theory. Still, there is substantial variation in capital budgeting techniques, methods of risk adjustment, and the importance of qualitative considerations in investment decision making. There is also variation in delegation of investment decision making to operating units and methods of performance evaluation. Health care systems face the same challenges as other organizations in developing and implementing capital investment strategies that use consistent methods for evaluation of projects that have inconsistent aims and outcomes.

  13. RISKS ASSOCIATED WITH INVESTMENTS IN STRUCTURED INVESTMENT PRODUCTS, SELECTION CRITERIA OF SIP`S

    Directory of Open Access Journals (Sweden)

    Ignatyuk Aleksandr Sergeevich

    2013-05-01

    Full Text Available Purpose To identify and classify the major risks affecting on the structured investment products, to submit proposals to limit their impact. Methodology The work is based on a studying of the practice of investments in structured investment products, detection and investigation of sources of market risk of structured investment products. Results Structured investment products, as any other investment product, has a significant set of risks that could affect to a large extent on its evaluation and determine the behavior of the investor. Financial engineers have the ability to control most of these risks, as well as to limit their impact. Thus, the structured investment product, unlike most classic investment instruments can provide investors with highly transparent mechanism to determining the ratio of investment risk and potential income. Practical implications The results can be used in a scientific investigation of the phenomenon of structured investment products, as well as practical work on the formation of the structured products by investment banks and brokerage firms.

  14. Management of investment processes on Finnish farms

    Directory of Open Access Journals (Sweden)

    T. MATTILA

    2008-12-01

    Full Text Available Structural change in agriculture means a continuous need for investing in farm production. It is essential for the sustainable operations and the economy of the farm that such investments are successful. In this research, different stages of the investment process of farms were studied as well as the use of information and the success perceived during the investment process. The study was carried out with mail surveys and telephone interviews on the Finnish Farm Accountancy Data Network (FADN farms. The most challenging investments were in animal husbandry buildings and, as to these investments, the comparison of alternatives was the most challenging stage. For most investments, the planning phase was considered more challenging than the implementation. Before making the decision, farmers acquired information from many sources, of which the opinion of the main customer and the experiences of fellow farmers were the most valued. Some of the products considered were so new on the market that it was not easy to get adequate information and, furthermore, the information given by suppliers was not always accurate. Decision-making was supported by calculations, but qualitative factors had a dominating role. Large basic decisions were made relatively quickly, while details needed a longer time to process. In general, farm managers were satisfied with their investments. Improvements in work quality and quantity were especially mentioned and generally qualitative factors were the ones first in mind when evaluating the successfulness of the investment.;

  15. Determinants of Discretionary Investments

    Directory of Open Access Journals (Sweden)

    K. S. Sujit

    2016-03-01

    Full Text Available Theoretical and empirical studies have focused on discretionary investments such as research and development (R&D and advertisement as value-creating activities. This empirical research article examines the determinants of the discretionary investment policy of food sector firms in India. The study aims to analyze the impact of financial policies and firm characteristics on the discretionary investment strategy of the food industry firms. The article uses the partial least squares structural equation modeling (PLS-SEM to understand the drivers of discretionary investment policy of food sector firms. The study finds that investment policy of firms is a major determinant of profitability of food sector firms. Higher investments in capital expenditures and working capital result in higher profitability. Management efficiency significantly influences firm profitability. The results suggest that riskier firms in food sector might focus on R&D investments as a strategy to generate more cash flows. Size of firm is negatively related to R&D intensity. Smaller firms in food sector tend to invest more in R&D. The study does not provide evidence to suggest that profitable firms invest more in R&D activities.

  16. Investment and uncertainty

    DEFF Research Database (Denmark)

    Greasley, David; Madsen, Jakob B.

    2006-01-01

    A severe collapse of fixed capital formation distinguished the onset of the Great Depression from other investment downturns between the world wars. Using a model estimated for the years 1890-2000, we show that the expected profitability of capital measured by Tobin's q, and the uncertainty...... surrounding expected profits indicated by share price volatility, were the chief influences on investment levels, and that heightened share price volatility played the dominant role in the crucial investment collapse in 1930. Investment did not simply follow the downward course of income at the onset...

  17. Second School of Nuclear Energetics

    International Nuclear Information System (INIS)

    2009-01-01

    At 3-5 Nov 2009 Institute of Nuclear Energy POLATOM, Association of Polish Electrical Engineers (SEP) and Polish Nuclear Society have organized Second School of Nuclear Energetics. 165 participants have arrived from all Poland and represented both different central institutions (e.g. ministries) and local institutions (e.g. Office of Technical Inspection, The Voivodship Presidential Offices, several societies, consulting firms or energetic enterprises). Students from the Warsaw Technical University and Gdansk Technical University, as well as the PhD students from the Institute of Nuclear Chemistry and Technology (Warsaw) attended the School. 20 invited lectures presented by eminent Polish specialists concerned basic problems of nuclear energetics, nuclear fuel cycle and different problems of the NPP construction in Poland. [pl

  18. Ratio Analysis: Where Investments Meet Mathematics.

    Science.gov (United States)

    Barton, Susan D.; Woodbury, Denise

    2002-01-01

    Discusses ratio analysis by which investments may be evaluated. Requires the use of fundamental mathematics, problem solving, and a comparison of the mathematical results within the framework of industry. (Author/NB)

  19. The Principle of Energetic Consistency

    Science.gov (United States)

    Cohn, Stephen E.

    2009-01-01

    A basic result in estimation theory is that the minimum variance estimate of the dynamical state, given the observations, is the conditional mean estimate. This result holds independently of the specifics of any dynamical or observation nonlinearity or stochasticity, requiring only that the probability density function of the state, conditioned on the observations, has two moments. For nonlinear dynamics that conserve a total energy, this general result implies the principle of energetic consistency: if the dynamical variables are taken to be the natural energy variables, then the sum of the total energy of the conditional mean and the trace of the conditional covariance matrix (the total variance) is constant between observations. Ensemble Kalman filtering methods are designed to approximate the evolution of the conditional mean and covariance matrix. For them the principle of energetic consistency holds independently of ensemble size, even with covariance localization. However, full Kalman filter experiments with advection dynamics have shown that a small amount of numerical dissipation can cause a large, state-dependent loss of total variance, to the detriment of filter performance. The principle of energetic consistency offers a simple way to test whether this spurious loss of variance limits ensemble filter performance in full-blown applications. The classical second-moment closure (third-moment discard) equations also satisfy the principle of energetic consistency, independently of the rank of the conditional covariance matrix. Low-rank approximation of these equations offers an energetically consistent, computationally viable alternative to ensemble filtering. Current formulations of long-window, weak-constraint, four-dimensional variational methods are designed to approximate the conditional mode rather than the conditional mean. Thus they neglect the nonlinear bias term in the second-moment closure equation for the conditional mean. The principle of

  20. Real Options Analysis of Electricity Investments

    Energy Technology Data Exchange (ETDEWEB)

    Heggedal, Ane Marte

    2012-07-01

    This thesis utilizes real options analysis for evaluating investment opportunities in the electricity sector. It also formally tests how investors in hydropower plants have included uncertainty when considering their investment opportunities. The real options method applies financial options theory to quantify the value of management flexibility and is chosen due to three important characteristics of investments in the electricity sector. First; the investment is completely or partially irreversible, second; the investor can choose when to invest in the facility, and third; there is uncertainty in several factors affecting the cash flows of the investments. Factors of uncertainty include the development of electricity prices, policies, technological advances, and macroeconomics measures.Four papers are included in this thesis. Paper 1, Upgrading hydropower plants with storage: Timing and capacity choice, presents a valuation framework for deciding when to upgrade an existing hydropower plant and which capacity to choose. The second paper, Transmission capacity between Norway and Germany: A real options analysis, sheds light on when two electricity markets, in this case Norway and Germany, should be connected through a sub sea cable. The investor can choose when to invest and the capacity of the cable, and may also choose to invest sequentially. Paper 3, Optimal timing and capacity choice for pumped hydropower storage, investigates when investment in a pumped hydropower plant with storage should be undertaken and what the capacity of the facility should be. Whereas the three first papers investigate investment opportunities, Paper 4, Uncertain climate policy decisions and investment timing: Evidence from small hydropower plants, studies when investors in small hydropower plants chose to invest. The analyses disclose whether the net present value approach or the real options method best describe the investment decisions made by the investors. Viewing investment

  1. INVESTMENT FUNDS IN ROMANIA

    Directory of Open Access Journals (Sweden)

    COPIL CRINA ANGELA

    2013-07-01

    Full Text Available I chose this topic because my goal was to capture in detail all aspects of the evolution of investment funds under the influence of factors leading to globalization of the banking financial market. Main motivation was that I proposed to present in an original manner the concept of investment in mutual funds by the thoroughness of the following points: the different types of investment funds from Romania, the advantages, the risks and the specific costs of the investment in mutual funds and the effects of the financial crisis on the industry of the investment funds on the national level. The financial crisis and the risk of infecting the global economy affected the taste of risk of the investors and their request for the investment fund, determining the orientation of the investors to the funds with a lower risk – the diversified funds, the funds of bonds and the monetary funds. I considered important the theoretical approach of the concept of investments in investment funds because they are a barometer of the macro economical stability, in case the economical increase is positive on the macro economical level the investments in investments funds are increasing too. In Romania the market of the mutual funds is at an incipient level, but with potential and perspectives of development. Due to the bankruptcy of FNI in the beginning of the years 2000 and due to the absence of a clear legislation regarding the calculation of the unitary value of the net asset and the control of the activity developed by the investment funds, the development of the industry of the investment funds had to fight against the crisis of credibility generated by these events. The convergence of the Romanian economy to the European standards will attract also a modification of the structure of the financial investments of the individuals, by an increase of the investments in funds. In the world the investment funds are preferred by the investors for their advantages

  2. Indicators of responsible investing

    NARCIS (Netherlands)

    Scholtens, Bert

    Responsible investment has witnessed significant changes in the past decade. It is estimated that about one fifth of assets under management in the US and about half of all assets under management in the EU are done on the basis of one of the seven responsible investment strategies. This paper

  3. RUSSIAN INDUSTRY INVESTMENT SITUATION

    Directory of Open Access Journals (Sweden)

    O. V. Pochukaeva

    2011-01-01

    Full Text Available The actual deficiency of investment into Russian industry innovative development increases its technological drag from industries of countries with developed markets. Although the rate of investment into real sectors of Russian economics mid 2000 was higher compared to the previous period, annual investment amounts were much lower than in 1990. At present, highest investment amounts are directed to industry extractive branches and to the commerce. Amounts invested to various economy branches do not correspond to their contribution to the country’sGross Added Product; particularly underinvested are manufacturing industry branches. At present, foreign share in the country economy total investment makes 15–18%. Recently, most interesting for foreigners was investment to machine-building branches with overwhelming part (for example, 90% in 2007–2008 of foreign investment into the machine-building industry being directed to creation of new automobile plants. Today, first place in the list of foreign investors’ preferences in Russia is taken by the machine-tool construction sector.

  4. Investment for food

    NARCIS (Netherlands)

    Groenveld, D.

    1961-01-01

    Groenveld attempted to show the magnitude of investments in agriculture, which were necessary to meet the increasing world demand for food. The formula S = K/Y (ΔN +ΔH) was assumed as a description that for a community the proportion of national income saved and invested must equal the product of

  5. Considerations in Duplex Investment.

    Science.gov (United States)

    Wright, Arthur; Goen, Tom

    Problems of duplex investment are noted in the introduction to this booklet designed to provide a technique by which the investment decision can be approached, develop estimates of typical costs and returns under differing conditions, and encourage investors to analyze objectives and conditions before the decision to buy or build is made. A…

  6. The Investment Policy Statement

    Science.gov (United States)

    Griswold, John S.; Jarvis, William F.

    2011-01-01

    Successful investing for long-term funds requires a strategic plan. This is true despite--indeed, because of--the fact that the future is unknowable. The plan must be specific, embodying in concrete terms the best thinking of the board of trustees about the investment pool, its goals and purposes; but it also needs to be sufficiently flexible to…

  7. Competition in investment banking

    Directory of Open Access Journals (Sweden)

    Katrina Ellis

    2011-01-01

    Full Text Available We construct a comprehensive measure of overall investment banking competitiveness for follow-on offerings that aggregates the various dimensions of competition such as fees, pricing accuracy, analyst recommendations, distributional abilities, market making prowess, debt offering capabilities, and overall reputation. The measure allows us to incorporate trade-offs that investment banks may use in competing for new or established clients. We find that firms who switch to similar-quality underwriters enjoy more intense competition among investment banks which manifests in lower fees and more optimistic recommendations. Investment banks do compete vigorously for some clients, with the level of competition related to the likelihood of gaining or losing clients. Finally, investment banks not performing up to market norms are more likely to be dropped in the follow-on offering. In contrast, firms who seek a higher reputation underwriter face relatively non-competitive markets.

  8. The economic content of the term “investment attractiveness”

    Directory of Open Access Journals (Sweden)

    E. R. Zakirova

    2016-01-01

    Full Text Available The article is devoted to the definition of the economic content of the concept of “investment attraction” and the study of the criteria of investment attractiveness. We conducted a retrospective analysis and systematization of the various definitions of “capital”, “investment”, “investment attraction”, given by domestic and foreign authors. A generalized definition of capital is given: “capital’ is an objective economic category, which offers a business entity to carry out its investment activities in order to expand the scope and value of the business, making a profit and improve its investment attractiveness. It is emphasized that the concept of “investment” is broader than the concept of “capital”: it is investment in capital with varying degrees of liquidity for the purpose of subsequent increments and increase the value of the business entity. The author defines the main characteristics of the investment. A distinction of the term “investment attractiveness” of similar concepts, “market attractiveness”, “investment climate”, “investment image”, “investment potential” is made. It is concluded that the investment attractiveness is a component of the investment climate, which is characterized by an objective character and eliminates the subjectivity. Based on the understanding of different approaches to the study of the investment attractiveness and define its criteria the author offers a brief description of the concept of “investment attractiveness”: investment attractiveness is an independent economic category – a set of internal and external factors, as well as qualitative and quantitative indicators of the investment potential of any of the levels of the economic system – state, regional, sectoral, level of economic entities. Evaluation of investment attractiveness at all levels of the economic system is carried out in the current period (current situation analysis and forecast

  9. Evaluation of power investment decisions under uncertain carbon policy: A case study for converting coal fired steam turbine to combined cycle gas turbine plants in Australia

    International Nuclear Information System (INIS)

    Shahnazari, Mahdi; McHugh, Adam; Maybee, Bryan; Whale, Jonathan

    2014-01-01

    Highlights: • Policy uncertainty effects quantified in Australian power generation investments. • A decision criterion provided to recommend optimal investment timing. • The Clean Energy Act 2011 and high carbon price policy scenarios investigated. • Post- implementation policy uncertainty creates disincentive for policy objectives. • Setting a higher carbon price may dampen effects of political uncertainty. - Abstract: Greenhouse gas (GHG) intensive fuels are currently a major input into the Australian electricity sector. Accordingly, climate change mitigation policies represent a systematic risk to investment in electricity generation assets. Although the Australian government introduced carbon pricing in 2012 and announced a commitment to the continuation of the Kyoto protocol beyond 2012, the opposition at the time signalled that should they be provided the opportunity they would repeal these policies. This paper uses a real options analysis (ROA) framework to investigate the optimal timing of one potential business response to carbon pricing: investment in the conversion of coal plant to lower emission CCGT plant. An American-style option valuation method is used for this purpose. The viewpoint is from that of a private investor assessing three available options for an existing coal plant: (1) to invest in its conversion to CCGT; (2) to abandon it, or; (3) to take no immediate action. The method provides a decision criterion that informs the investor whether or not to delay the investment. The effect of market and political uncertainty is studied for both the Clean Energy Act 2011 (CEA) and high carbon price (HCP) policy scenarios. The results of the modelling suggest that political uncertainty after the implementation of carbon pricing impedes the decision to switch to cleaner technologies. However, this effect can be mitigated by implementing higher expected carbon prices

  10. Prioritizing conservation investments for mammal species globally

    Science.gov (United States)

    Wilson, Kerrie A.; Evans, Megan C.; Di Marco, Moreno; Green, David C.; Boitani, Luigi; Possingham, Hugh P.; Chiozza, Federica; Rondinini, Carlo

    2011-01-01

    We need to set priorities for conservation because we cannot do everything, everywhere, at the same time. We determined priority areas for investment in threat abatement actions, in both a cost-effective and spatially and temporally explicit way, for the threatened mammals of the world. Our analysis presents the first fine-resolution prioritization analysis for mammals at a global scale that accounts for the risk of habitat loss, the actions required to abate this risk, the costs of these actions and the likelihood of investment success. We evaluated the likelihood of success of investments using information on the past frequency and duration of legislative effectiveness at a country scale. The establishment of new protected areas was the action receiving the greatest investment, while restoration was never chosen. The resolution of the analysis and the incorporation of likelihood of success made little difference to this result, but affected the spatial location of these investments. PMID:21844046

  11. A U.S. utilities perspective of foreign investments

    Energy Technology Data Exchange (ETDEWEB)

    White, M.; Imsdahl, B.

    1994-12-31

    This paper reviews what MDU Resources Group, Inc. will use for criteria to evaluate investment opportunities in foreign countries and the strategy it has developed for foreign investments. The paper further outlines what MDU Resources Group, Inc. considers critical to make an investment in an international project.

  12. Method of an integrated and advanced evaluation of vulnerability. Conceptional-methodical fundamentals and examplary implementation for the water household, power generation and energetic utilisation of wood under climatic change; Methode einer integrierten und erweiterten Vulnerabilitaetsbewertung. Konzeptionell-methodische Grundlagen und exemplarische Umsetzung fuer Wasserhaushalt, Stromerzeugung und energetische Nutzung von Holz unter Klimawandel

    Energy Technology Data Exchange (ETDEWEB)

    Weisz, Helga; Koch, Hagen; Lasch, Petra [Potsdam-Institut fuer Klimafolgenforschung e.V. (Germany)] [and others

    2013-07-15

    Actually, in Germany there are more than hundred investigations on the consequences of the climatic change. It is difficult to evaluate the vulnerability of Germany against the climatic change. Under this aspect, the authors of the contributions report on a method of an integrated and advanced evaluation of vulnerability: Conceptional-methodical fundamentals and exemplary implementation for water household, power generation and energetic utilization of wood under climatic change.

  13. Heliospheric Observations of Energetic Particles

    Science.gov (United States)

    Summerlin, Errol J.

    2011-01-01

    Heliospheric observations of energetic particles have shown that, on long time averages, a consistent v^-5 power-law index arises even in the absence of transient events. This implies an ubiquitous acceleration process present in the solar wind that is required to generate these power-law tails and maintain them against adiabatic losses and coulomb-collisions which will cool and thermalize the plasma respectively. Though the details of this acceleration process are being debated within the community, most agree that the energy required for these tails comes from fluctuations in the magnetic field which are damped as the energy is transferred to particles. Given this source for the tail, is it then reasonable to assume that the turbulent LISM should give rise to such a power-law tail as well? IBEX observations clearly show a power-law tail of index approximately -5 in energetic neutral atoms. The simplest explanation for the origins of these ENAs are that they are energetic ions which have charge-exchanged with a neutral atom. However, this would imply that energetic ions possess a v^-5 power-law distribution at keV energies at the source of these ENAs. If the source is presumed to be the LISM, it provides additional options for explaining the, so called, IBEX ribbon. This presentation will discuss some of these options as well as potential mechanisms for the generation of a power-law spectrum in the LISM.

  14. About the wind energetics development

    International Nuclear Information System (INIS)

    Strebkov, D.S.; Kharitonov, V.P.; Murugov, V.P.; Sokol'skij, A.K.

    1996-01-01

    The review of wind power energetics state in USA, Europe, Russia is given. The data of EC on wind power plants production in different periods are presented. The directions of scientific-research works with the purpose of increasing the level of wind power industry of Russia corresponding to economics demands were elaborated. (author). 8 refs., 3 tabs

  15. Introduction to global energetic problems

    International Nuclear Information System (INIS)

    Gicquel, R.

    1992-01-01

    This book gives a view on global energetic problems and proposes a thorough economic analysis on principle aspects taken into account: energy supply, depending energy sources and available technologic channels, relationships between macro-economy and energy demand, new size of energy problems (environmental effects, overcosts of renewable energy sources, necessity of an high technologic development...). 38 refs

  16. Identifying options for regulating the coordination of network investments with investments in distributed electricity generation

    International Nuclear Information System (INIS)

    Nisten, E.

    2010-02-01

    The increase in the distributed generation of electricity, with wind turbines and solar panels, necessitates investments in the distribution network. The current tariff regulation in the Dutch electricity industry, with its ex post evaluation of the efficiency of investments and the frontier shift in the x-factor, delays these investments. In the unbundled electricity industry, the investments in the network need to be coordinated with those in the distributed generation of electricity to enable the DSOs to build enough network capacity. The current Dutch regulations do not provide for a sufficient information exchange between the generators and the system operators to coordinate the investments. This paper analyses these two effects of the Dutch regulation, and suggests improvements to the regulation of the network connection and transportation tariffs to allow for sufficient network capacity and coordination between the investments in the network and in the generation of electricity. These improvements include locally differentiated tariffs that increase with an increasing concentration of distributed generators.

  17. Energy investments and employment

    International Nuclear Information System (INIS)

    1993-08-01

    A study was conducted to assess the effect that different energy options would have on provincial and regional employment prospects in British Columbia. Current and future economic and employment patterns were examined to develop a more detailed understanding of the skills, age, gender, location, and other characteristics of British Columbia workers. Over 40 previous studies examining the energy/employment relationship were also reviewed. Based on this review and an analysis of the province's economic and labor conditions, the following conclusions are drawn. Investment in non-energy sectors offers better prospects for reducing unemployment than investment in the energy sector, whether for new supply or improving efficiency. Investments in the energy sector provide fewer jobs than investments in most other sectors of the economy. Among the available electricity supply options, large hydroelectric projects tend to produce the fewest jobs per investment dollar. Smaller thermal projects such as wood residue plants produce the most jobs. If and when more energy is needed in British Columbia, the most cost-effective combination of energy supply and efficiency options will also create the most jobs. Compared to traditional energy supply options, investments in energy efficiency would create about twice as many total jobs, create jobs that better match the skills of the province's unemployed and its population distribution, and create jobs that last longer on the average. Construction-related measures such as improved insulation tend to produce more jobs per investment dollar than the substitution of more energy-efficient equipment. 69 refs., 9 tabs

  18. Evaluation of effect of recasting of nickel-chromium alloy on its castability using different investment materials: An in vitro study

    Directory of Open Access Journals (Sweden)

    Abhinav Sharma

    2016-01-01

    Conclusions: Within the limitations of the study, it was concluded that there was no significant difference found in castability of different percentage combinations of new and once casted alloy using two investment materials. The addition of new alloy during recasting to maintain the castability of nickel-chromium alloy may therefore not be required.

  19. Energetic consumption levels and human development indexes

    International Nuclear Information System (INIS)

    Boa Nova, Antonio Carlos

    1999-01-01

    The article overviews the energetic consumption levels and human development indexes. The human development indexes are described based on the United Nations Development Programme. A comparison between the energetic consumption levels and human development indexes is also presented

  20. Evaluation of saving measurements and energetic efficiency in air-conditioning systems; Evaluacion de medidas de ahorro y eficiencia energetica en sistemas de climatizacion

    Energy Technology Data Exchange (ETDEWEB)

    Perez Lombard, L [Asociacion de Investigacion y Cooperacion de Andalucia (Spain); Ortiz, J [Building Research Establishment (United Kingdom); Riviere, P [Armines-ecole des mines de Paris (France)

    2006-04-15

    Buildings require an adequate air conditioning to offer workers a labor environment where there is thermal comfort. A study was performed in three different European places which count on several climates. The conclusion was the following: in order to analyze the energy efficiency in edifications it is fundamental the simulation tools use with the purpose of calculating the consumption and evaluating the saving measurements. [Spanish] Los edificios requieren de una climatizacion adecuada para que los que ahi operan puedan hacerlo dentro de un ambiente laboral donde exista el confort termico. Se llevo a cabo un estudio en tres lugares de Europa poseedores de diferentes climas y se concluyo que para poder analizar la eficiencia energetica de climatizacion en las edificaciones es imprescindible el uso de herramientas de simulacion con el proposito de calcular el consumo y evaluar las medidas de ahorro.

  1. Irreversible investments revisited

    DEFF Research Database (Denmark)

    Sandal, Leif K.; Steinshamn, Stein I.; Hoff, Ayoe

    2007-01-01

    A multi-dimensional, non-linear dynamic model in continuous time is presented for the purpose of finding the optimal combination of exploitation and capital investment in optimal renewable resource management. Non-malleability of capital is incorporated in the model through an asymmetric cost......-function of investment, and investments can be both positive and negative. Exploitation is controlled through the utilisation rate of available capital. A novel feature in this model is that there are costs associated with the available capital whether it is utilised or not. And, in contrast to most of the previous...

  2. Petroleum investment conditions in Peru

    International Nuclear Information System (INIS)

    Garcia Schreck, M.

    1996-01-01

    This report focuses on the current petroleum investment conditions in Peru, and Peru's hydrocarbon potential. Investment conditions are examined, and political risk, internal security, the economic environment, and the legal framework for investment are considered. (UK)

  3. The location of energetic compartments affects energetic communication in cardiomyocytes

    Directory of Open Access Journals (Sweden)

    Rikke eBirkedal

    2014-09-01

    Full Text Available The heart relies on accurate regulation of mitochondrial energy supply to match energy demand. The main regulators are Ca2+ and feedback of ADP and Pi. Regulation via feedback has intrigued for decades. First, the heart exhibits a remarkable metabolic stability. Second, diffusion of ADP and other molecules is restricted specifically in heart and red muscle, where a fast feedback is needed the most. To explain the regulation by feedback, compartmentalization must be taken into account. Experiments and theoretical approaches suggest that cardiomyocyte energetic compartmentalization is elaborate with barriers obstructing diffusion in the cytosol and at the level of the mitochondrial outer membrane (MOM. A recent study suggests the barriers are organized in a lattice with dimensions in agreement with those of intracellular structures. Here, we discuss the possible location of these barriers. The more plausible scenario includes a barrier at the level of MOM. Much research has focused on how the permeability of MOM itself is regulated, and the importance of the creatine kinase system to facilitate energetic communication. We hypothesize that at least part of the diffusion restriction at the MOM level is not by MOM itself, but due to the close physical association between the sarcoplasmic reticulum (SR and mitochondria. This will explain why animals with a disabled creatine kinase system exhibit rather mild phenotype modifications. Mitochondria are hubs of energetics, but also ROS production and signaling. The close association between SR and mitochondria may form a diffusion barrier to ADP added outside a permeabilised cardiomyocyte. But in vivo, it is the structural basis for the mitochondrial-SR coupling that is crucial for the regulation of mitochondrial Ca2+-transients to regulate energetics, and for avoiding Ca2+-overload and irreversible opening of the mitochondrial permeability transition pore.

  4. SIMULATION OF ENERGETIC NEUTRAL ATOMS FROM SOLAR ENERGETIC PARTICLES

    Energy Technology Data Exchange (ETDEWEB)

    Wang, Linghua [Institute of Space Physics and Applied Technology, Peking University, Beijing 100871 (China); Li, Gang [Department of Space Science and CSPAR, University of Alabama in Huntsville, Huntsville, AL 35899 (United States); Shih, Albert Y. [Solar Physics Laboratory, NASA Goddard Space Flight Center, Greenbelt, MD 20770 (United States); Lin, Robert P. [Space Sciences Laboratory, University of California, Berkeley, CA 94720-7450 (United States); Wimmer-Schweingruber, Robert F., E-mail: wanglhwang@gmail.com [Institut fuer Experimentelle und Angewandte Physik, University of Kiel, Leibnizstrasse 11, D-24118 Kiel (Germany)

    2014-10-01

    Energetic neutral atoms (ENAs) provide the only way to observe the acceleration site of coronal-mass-ejection-driven (CME-driven) shock-accelerated solar energetic particles (SEPs). In gradual SEP events, energetic protons can charge exchange with the ambient solar wind or interstellar neutrals to become ENAs. Assuming a CME-driven shock with a constant speed of 1800 km s{sup –1} and compression ratio of 3.5, propagating from 1.5 to 40 R{sub S} , we calculate the accelerated SEPs at 5-5000 keV and the resulting ENAs via various charge-exchange interactions. Taking into account the ENA losses in the interplanetary medium, we obtain the flux-time profiles of these solar ENAs reaching 1 AU. We find that the arriving ENAs at energies above ∼100 keV show a sharply peaked flux-time profile, mainly originating from the shock source below 5 R{sub S} , whereas the ENAs below ∼20 keV have a flat-top time profile, mostly originating from the source beyond 10 R{sub S} . Assuming the accelerated protons are effectively trapped downstream of the shock, we can reproduce the STEREO ENA fluence observations at ∼2-5 MeV/nucleon. We also estimate the flux of ENAs coming from the charge exchange of energetic storm protons, accelerated by the fast CME-driven shock near 1 AU, with interstellar hydrogen and helium. Our results suggest that appropriate instrumentation would be able to detect ENAs from SEPs and to even make ENA images of SEPs at energies above ∼10-20 keV.

  5. Energetic evaluation of the largest geomagnetic storms of solar cycle 24 on March 17, 2015 and September 8, 2017 during solar maximum and minimum, respectively

    International Nuclear Information System (INIS)

    Tomova, Dimitrinka; Velinov, Peter; Tassev, Yordan; Tomova, Dimitrinka

    2018-01-01

    Some of the most powerful Earth’s directed coronal mass ejections (CMEs) from the current 24 solar cycle have been investigated. These are CMEs on March 15, 2015 and on September 4 and 6, 2017. As a result of these impacts of Sun on Earth, the highest intensity of the geomagnetic storms for the 24th solar cycle is observed. These G4 – Severe geomagnetic storms are in the periods March 17÷19, 2015 and September 7÷10, 2017. We use the solar wind parameters (velocity V, density or concentration N , temperature T p and intensity of the magnetic field B) from measurements by WIND, ACE and SOHO space crafts in the Lagrange equilibrium point L1 between Sun and Earth. We make calculations for the kinetic (dynamic) energy density E k , thermal energy density E t and magnetic energy density E m during the investigated periods May 10÷24, 2015 and September 2÷16, 2017. Both the energy densities for the individual events and the cumulative energy for each of them are evaluated. The quantitative analysis shows that not always the size of the geomagnetic reaction is commensurate with the density of the energy flux reaching the magnetosphere. In both studied periods, the energy densities have different behaviour over time. But for both periods, we can talk about the prognostic effect – with varying degrees of increase of the dynamic and thermal energies. Such an effect is not observed in the density of magnetic energy. An inverse relationship between the magnitude of the density of energies and the effect of Forbush decrease of the galactic cosmic rays is established. Key words: solar activity, flares, coronal mass ejection (CME), G4 –Severe geomagnetic storms, energy density of the solar wind, space weather

  6. Environment, Trade, and Investment

    Science.gov (United States)

    Environment, trade, and investment are fundamentally linked as the environment provides many basic inputs of economic activity – forests, fisheries, metals, minerals – as well as the energy used to process those materials.

  7. Socially responsible investment engagement

    NARCIS (Netherlands)

    Goessling, T.; Buijter, Bas; Freeman, R.E.; Kujala, J.; Sachs, S.

    2017-01-01

    This study explores engagement in socially responsible investment (SRI) processes. More specifically, it researches the impact of shareholder salience on the success of engagement activities. The research question asks: What is the relationship between shareholder salience and engagement effort

  8. Multimodal freight investment criteria.

    Science.gov (United States)

    2010-07-01

    Literature was reviewed on multi-modal investment criteria for freight projects, examining measures and techniques for quantifying project benefits and costs, as well as ways to describe the economic importance of freight transportation. : A limited ...

  9. Sanitation investments in Ghana

    DEFF Research Database (Denmark)

    Awunyo-Akaba, Y.; Awunyo-Akaba, J.; Gyapong, M.

    2016-01-01

    with people’s willingness and ability to invest in household sanitation across all communities. The status of being a stranger i.e. migrant in the area left some populations without rights over the land they occupied and with low incentives to invest in sanitation, while indigenous communities were challenged......Background: Ghana’s low investment in household sanitation is evident from the low rates of improved sanitation. This study analysed how land ownership, tenancy security and livelihood patterns are related to sanitation investments in three adjacent rural and peri-urban communities in a district...... communities were triangulated with multiple interview material and contextual knowledge on social structures, history of settlement, land use, livelihoods, and access to and perceptions about sanitation. Results: This study shows that the history of settlement and land ownership issues are highly correlated...

  10. Parental Investments in Children

    DEFF Research Database (Denmark)

    Bonke, Jens; Esping-Andersen, Gösta

    This study examines parental time investment in their children, distinguishing between developmental and non-developmental care. Our analyses centre on three influential determinants: educational background, marital homogamy, and spouses’ relative bargaining power. We find that the emphasis...

  11. Cost Estimates and Investment Decisions

    International Nuclear Information System (INIS)

    Emhjellen, Kjetil; Emhjellen Magne; Osmundsen, Petter

    2001-08-01

    When evaluating new investment projects, oil companies traditionally use the discounted cashflow method. This method requires expected cashflows in the numerator and a risk adjusted required rate of return in the denominator in order to calculate net present value. The capital expenditure (CAPEX) of a project is one of the major cashflows used to calculate net present value. Usually the CAPEX is given by a single cost figure, with some indication of its probability distribution. In the oil industry and many other industries, it is common practice to report a CAPEX that is the estimated 50/50 (median) CAPEX instead of the estimated expected (expected value) CAPEX. In this article we demonstrate how the practice of using a 50/50 (median) CAPEX, when the cost distributions are asymmetric, causes project valuation errors and therefore may lead to wrong investment decisions with acceptance of projects that have negative net present values. (author)

  12. Investment, regulation, and uncertainty

    Science.gov (United States)

    Smyth, Stuart J; McDonald, Jillian; Falck-Zepeda, Jose

    2014-01-01

    As with any technological innovation, time refines the technology, improving upon the original version of the innovative product. The initial GM crops had single traits for either herbicide tolerance or insect resistance. Current varieties have both of these traits stacked together and in many cases other abiotic and biotic traits have also been stacked. This innovation requires investment. While this is relatively straight forward, certain conditions need to exist such that investments can be facilitated. The principle requirement for investment is that regulatory frameworks render consistent and timely decisions. If the certainty of regulatory outcomes weakens, the potential for changes in investment patterns increases.   This article provides a summary background to the leading plant breeding technologies that are either currently being used to develop new crop varieties or are in the pipeline to be applied to plant breeding within the next few years. Challenges for existing regulatory systems are highlighted. Utilizing an option value approach from investment literature, an assessment of uncertainty regarding the regulatory approval for these varying techniques is undertaken. This research highlights which technology development options have the greatest degree of uncertainty and hence, which ones might be expected to see an investment decline. PMID:24499745

  13. Market Power and Investment in Renewable Electricity Generation

    DEFF Research Database (Denmark)

    Ernstsen, Rune Ramsdal; Misir, Nihat

    while incurring lower investment costs. We additionally find that highly convex investment cost greatly diminishes the impact of market power on the investment decisions. Furthermore, for both the strategic firm and the social planner, fixed baseload generation is preferable during low installed...... approach to evaluate the investment decisions. In our paper we do not only focus on the differences in costs for different technologies but also on the differences in operation of those technologies and how those differences impact the optimal investment decisions. In our model, the one-time investment...... decision requires the determination of demand shock trigger level, choice of technology and level of optimal capacity. We specifically investigate how the investment triggers, optimal capacities and technology choices change with the changes to the investment cost function, demand uncertainty and the level...

  14. Market evaluation and investment planning in natural gas industry in Brazil: development of the net distribution pipeline; Avaliacao de mercado e planejamento de investimentos na industria de gas natural no Brasil: perspectivas de crescimento da malha de gasodutos de distribuicao

    Energy Technology Data Exchange (ETDEWEB)

    Avila, Pedro L.; Pamplona, Edson O. [Universidade Federal de Itajuba (UNIFEI), MG (Brazil)

    2008-07-01

    This paper proposes to develop a real options model to decision-making investments in flexible technologies. As a result, finding a closed-form solution, derived from the partial differential equation of the value of flexibility provided by alternative fuels. However, you can present and analysis the results of a practical application using the method to solve real options problems known as binomial model. Initially presents a brief explanation on the method of discounted cash flow, its failures and changes to the real options analysis. In the sequence chart an overview of the natural gas industry on Brazil, emphasizing the need for consistent investments evaluations in the sector. The next section shows the proposed development of mathematical model for assessing the flexibility to choose, obtained by the exchange of fuel for transport of gas pipeline distribution of natural gas. The model takes as the case scenario where the flexible pipeline can carry both natural gas and hydrogen, and the evaluation of the option of exchanging input gives more value to the investment opportunity, and consider the optimum conditions where the option to be exercised. Keywords: Decision Making, Real Options; Natural Gas, Flexible Technology. (author)

  15. Using carbon emissions and oxygen consumption to estimate energetics parameters of cattle consuming forages

    Science.gov (United States)

    To evaluate newer indirect calorimetry system to quantify energetic parameters, 8 cross-bred beef steers (initial BW = 241 ± 4.10 kg) were used in a 77-d experiment to examine energetics parameters calculated from carbon dioxide (CO2), methane (CH4), and oxygen (O2) fluxes. Steers were individually ...

  16. Very energetic photons at HERA

    International Nuclear Information System (INIS)

    Bawa, A.C.; Krawczyk, M.

    1991-01-01

    We show that every energetic photons in the backward direction can be produced in deep inelastic Compton scattering at HERA. Assuming a fixed energy of 9 GeV for the initial photons and 820 GeV for the protons a high rate is found for the production of final photons with a transverse momentum equal to 5 GeV/c and energy between 40 GeV and 300 GeV. These energetic photons arise mainly from the scattering of the soft gluonic constituents of the initial photon with quarks from the proton. They are produced in the backward direction in coincidence with a photon beam jet of energy ∝ 9 GeV in the forward direction. (orig.)

  17. Investing in river health.

    Science.gov (United States)

    Bennett, J

    2002-01-01

    Rivers provide society with numerous returns. These relate to both the passive and extractive uses of the resources embodied in river environments. Some returns are manifest in the form of financial gains whilst others are non-monetary. For instance, rivers are a source of monetary income for those who harvest their fish. The water flowing in rivers is extracted for drinking and to water crops and livestock that in turn yield monetary profits. However, rivers are also the source of non-monetary values arising from biological diversity. People who use them for recreation (picnicking, swimming, boating) also receive non-monetary returns. The use of rivers to yield these returns has had negative consequences. With extraction for financial return has come diminished water quantity and quality. The result has been a diminished capacity of rivers to yield (non-extractive) environmental returns and to continue to provide extractive values. A river is like any other asset. With use, the value of an asset depreciates because its productivity declines. In order to maintain the productive capacity of their assets, managers put aside from their profits depreciation reserves that can be invested in the repair or replacement of those assets. Society now faces a situation in which its river assets have depreciated in terms of their capacity to provide monetary and non-monetary returns. An investment in river "repair" is required. But, investment means that society gives up something now in order to achieve some benefit in the future. Society thus has to grapple wih the choice between investing in river health and other investments--such as in hospitals, schools, defence etc. - as well as between investing in river health and current consumption--such as on clothes, food, cars etc. A commonly used aid for investment decision making in the public sector is benefit cost analysis. However, its usefulness in tackling the river investment problem is restricted because it requires all

  18. Energetics of coal substitution by briquettes of agricultural residues

    Energy Technology Data Exchange (ETDEWEB)

    Purohit, Pallav; Tripathi, Arun Kumar; Kandpal, Tara Chandra [Centre for Energy Studies, Indian Institute of Technology Delhi, Hauz Khas, New Delhi 110016 (India)

    2006-07-15

    The suitability of using biomass briquettes to substitute coal is debatable, as a substantial amount of energy is required for briquetting of biomass. In the present work, an attempt to evaluate the energetic viability of briquetting of agricultural residues compared with the energy embodied in coal in India has been made. Briquetting of agricultural residues is not found to be an energetically viable option even for locations at a distance of about 1500km from the coal pithead (even if the briquetting unit is located very close to the place of availability of the agricultural residues). A need for transportation of agricultural residues further pushes this critical distance upwards. (author)

  19. Energetic charged particles above thunderclouds

    International Nuclear Information System (INIS)

    Fullekrug, Martin; Diver, Declan; Pincon, Jean-Louis; Renard, Jean-Baptiste; Phelps, Alan D.R.; Bourdon, Anne; Helling, Christiane; Blanc, Elisabeth; Honary, Farideh; Kosch, Mike; Harrison, Giles; Sauvaud, Jean-Andre; Lester, Mark; Rycroft, Michael; Kosch, Mike; Horne, Richard B.; Soula, Serge; Gaffet, Stephane

    2013-01-01

    The French government has committed to launch the satellite TARANIS to study transient coupling processes between the Earth's atmosphere and near-Earth space. The prime objective of TARANIS is to detect energetic charged particles and hard radiation emanating from thunderclouds. The British Nobel prize winner C. T. R. Wilson predicted lightning discharges from the top of thunderclouds into space almost a century ago. However, new experiments have only recently confirmed energetic discharge processes which transfer energy from the top of thunderclouds into the upper atmosphere and near-Earth space; they are now denoted as transient luminous events, terrestrial gamma-ray flashes and relativistic electron beams. This meeting report builds on the current state of scientific knowledge on the physics of plasmas in the laboratory and naturally occurring plasmas in the Earth's atmosphere to propose areas of future research. The report specifically reflects presentations delivered by the members of a novel Franco-British collaboration during a meeting at the French Embassy in London held in November 2011. The scientific subjects of the report tackle ionization processes leading to electrical discharge processes, observations of transient luminous events, electromagnetic emissions, energetic charged particles and their impact on the Earth's atmosphere. The importance of future research in this area for science and society, and towards spacecraft protection, is emphasized. (authors)

  20. Japanese investment in Peru: limits of developmental investment

    OpenAIRE

    Kamiya, Marco

    2004-01-01

    Japanese Investment in Latin America was considerable in the 1960s and 1970s, but the investment never took off in the developmental style as in East Asia. The author examines why Japanese Foreign Direct Investment in Peru did not follow the pattern of developmental investment, analyzing the elements involved regarding policies in Peru and particular circumstances in Japan in the 1990 decade.

  1. Cholesterol-induced protein sorting: an analysis of energetic feasibility

    DEFF Research Database (Denmark)

    Lundbaek, J A; Andersen, O S; Werge, T

    2003-01-01

    thickness. In this model, Golgi proteins with short TMDs would be excluded from cholesterol-enriched domains (lipid rafts) that are incorporated into transport vesicles destined for the plasma membrane. Although attractive, this model remains unproven. We therefore evaluated the energetic feasibility...

  2. Essays in Investment Theory

    International Nuclear Information System (INIS)

    Bobtcheff, C.

    2006-01-01

    This thesis analyzes different aspects of the investment decision. In the first chapter, we consider an economy in which different energy sources may produce electricity. The model focuses first on the optimal use of a hydroelectric dam from which water can be extracted and which is supplied with a random water flow. The presence of constraints on a minimal and on a maximal storage capacity makes electricity consumption smoothing possible only when the quantity of water available to the agent lies in a certain range that we determine. In a second stage, we introduce a second energy source with unlimited supply at some exogenous cost. The marginal propensity to produce hydroelectricity is an increasing function of the second technology cost. The availability at a low cost of the alternative source improves thus time diversification. Finally, the optimal electric park is composed of a number of dams that is increasing with the cost of the second technology. Chapter 2 studies the decision of an investor who wants to undertake an irreversible investment when he has the choice between two mutually exclusive projects that present input price and/or output price uncertainty. We prove that the investor decides not to invest in any project when each investment generates the same payoff independently of its size. Therefore, some inaction region appears in which the investor prefers not to invest whereas an immediate investment would have been optimal if no choice had been available: a 'choice value' is thus created. A key feature of this bidimensional degree of uncertainty is thus that the payoff generated by each project is not a sufficient statistic to make a rational investment. In this context, our analysis provides a new motive for waiting to invest: the benefits associated with the dominance of one project over the other. In chapter 3, we study the investment decision problem of a duo-poly with price competition on a market of finite size driven by stochastic taste

  3. Foreign Direct Investment versus Portfolio Investment : A Global Games Approach

    OpenAIRE

    Yamin Ahmad; Pietro Cova; Rodrigo Harrison

    2004-01-01

    We present a model of investment under uncertainty about fundamentals, using a global games approach. Goldstein & Razin (2003) show that there is an information based trade-off between foreign direct investment (FDI) and portfolio investment (PI) which rationalizes some well known stylised facts in the literature - the relative volatility and reversibility of foreign direct investment versus portfolio investment. We extend their result and show that uncertainty about fundamentals does not imp...

  4. Investment shocks and the relative price of investment

    OpenAIRE

    Justiniano, Alejandro; Primiceri, Giorgio E.; Tambalotti, Andrea

    2009-01-01

    We estimate a New-Neoclassical Synthesis model of the business cycle with two investment shocks. The first, an investment-specific technology shock, affects the transformation of consumption into investment goods and is identified with the relative price of investment. The second shock affects the production of installed capital from investment goods or, more broadly, the transformation of savings into future capital input. We find that this shock is the most important driver of U.S. business...

  5. Are Foreign Investments Replacing Domestic Investments? - Evidence from Finnish Manufacturing

    OpenAIRE

    Oksanen, Olli-Pekka

    2006-01-01

    This study analyses the relationship between firms’ foreign and domestic investments using a panel dataset containing 218 Finnish manufacturing firms during the years 1998-2002. The study examines whether foreign investments increase or decrease domestic investments and whether the effect varies between investments directed to developed markets or emerging markets. Financial constraints’ effect on the relationship is also investigated. The empirical part estimates an empirical investment equa...

  6. Optimal Regulation of Lumpy Investments

    NARCIS (Netherlands)

    Zwart, G.; Broer, D.P.

    2012-01-01

    When a monopolist has discretion over the timing of infrastructure investments, regulation of post-investment prices interferes with incentivizing socially optimal investment timing. In a model of regulated lumpy investment under uncertainty, we study regulation when the regulator can condition

  7. Irreversible investments revisited

    DEFF Research Database (Denmark)

    Sandal, Leif K.; Steinshamn, Stein I.; Hoff, Ayoe

    2007-01-01

    A multi-dimensional, non-linear dynamic model in continuous time is presented for the purpose of finding the optimal combination of exploitation and capital investment in optimal renewable resource management. Non-malleability of capital is incorporated in the model through an asymmetric cost......-function of investment, and investments can be both positive and negative. Exploitation is controlled through the utilisation rate of available capital. A novel feature in this model is that there are costs associated with the available capital whether it is utilised or not. And, in contrast to most of the previous...... literature, the state variables, namely the physical capital and the biological resource, enter the objective function. Due to the nonlinearities in this model some of the results are in sharp contrast to previous literature....

  8. Finans/Invest

    DEFF Research Database (Denmark)

    Bechmann, Ken L.

    2014-01-01

    Som det vil være velkendt for de fleste læsere, så er der skiftedag på Finans/Invest. Således var Finans/Invest 8/13 det sidste nummer med Anders Grosen som redaktør, og nærværende nummer er det første med professor Ken L. Bechmann som redaktør. I denne første leder beskriver den nye redaktør lidt...... om hans syn på Finans/Invest og tidsskriftets store betydning for formidling af faglig viden inden for finansiering. Yderligere beskrives nogle af de mindre redaktionelle ændringer, som den nye redaktør har planlagt. Endelig indeholder lederen traditionen tro redaktørens refleksioner over og...

  9. Investment appraisal using quantitative risk analysis.

    Science.gov (United States)

    Johansson, Henrik

    2002-07-01

    Investment appraisal concerned with investments in fire safety systems is discussed. Particular attention is directed at evaluating, in terms of the Bayesian decision theory, the risk reduction that investment in a fire safety system involves. It is shown how the monetary value of the change from a building design without any specific fire protection system to one including such a system can be estimated by use of quantitative risk analysis, the results of which are expressed in terms of a Risk-adjusted net present value. This represents the intrinsic monetary value of investing in the fire safety system. The method suggested is exemplified by a case study performed in an Avesta Sheffield factory.

  10. Forecasting Investment Risks in Conditions of Uncertainty

    Directory of Open Access Journals (Sweden)

    Andrenko Elena A.

    2017-04-01

    Full Text Available The article is aimed at studying the topical problem of evaluation and forecasting risks of investment activity of enterprises in conditions of uncertainty. Generalizing the researches on qualitative and quantitative methods for evaluating investment risks has helped to reveal certain shortcomings of the proposed approaches, to note in most of the publications there are no results as to any practical application, and to allocate promising directions. On the basis of the theory of fuzzy sets, a model of forecasting the expected risk has been proposed, making use of the Gauss membership function, which has certain advantages over the multi-angular membership functions. Dependences of investment risk from the parameters characterizing the investment project have been obtained. Using the formulas obtained, the total risk of investing in innovation project depending on the boundary conditions has been defined. As the researched target, index of profitability has been selected. The model provides the potential investors and developers with forecasting possible scenarios of investment process to make informed managerial decisions about the appropriateness of introduction and implementation of a project.

  11. An overview to CERSSO's self evaluation of the cost-benefit on the investment in occupational safety and health in the textile factories: "a step by step methodology".

    Science.gov (United States)

    Amador-Rodezno, Rafael

    2005-01-01

    The Pan American Health Organization (PAHO) and CERSSO collaborated to develop a new Tool Kit (TK), which became available in May 2002. PAHO already had a TK in place, and CERSSO requested that one be developed for their needs. CERSSO wanted to enable managers and line workers in garment factories to self-diagnose plant and workstation hazards and to estimate the costs and benefits of investing in occupational safety and health (OSH) as a way to improve productivity and competitiveness. For consistency, the collaborating organizations agreed to construct the TK according to PAHO's methodology. The instrument was developed to be comprehensive enough that any user can collect the data easily. It integrates epidemiologic, risk assessment, clinic, engineering, and accountability issues, organized to include step-by-step training in: (a) performing risk assessments in the workplaces (risk factors); (b) making cause-effect relationships; (c) improving decision making on OSH interventions; (d) doing calculations of direct and indirect costs and savings; and (e) doing calculation of the overall cost-benefit of OSH interventions. Since July 2002, about 2,400 employees and officials from 736 garment factories, Ministries of Labor, Health, Social Security Institutes, and Technical Training Institutions of Central America and the Dominican Republic have used this instrument. Systematically, they have calculated a positive relationship of the investment (3 to 33 times). Employers are now aware of the financial rewards of investing in OSH. The TK is available in Spanish, Korean, and English. In July 2003, a software program in Spanish and English was developed (180 persons have been trained in the region), which requires less time to execute with better reliability.

  12. Stock prices and business investment

    OpenAIRE

    Yaron Leitner

    2007-01-01

    Is there a link between the stock market and business investment? Empirical evidence indicates that there is. A firm tends to invest more when its stock price increases, and it tends to invest less when the price falls. In “Stock Prices and Business Investment,” Yaron Leitner discusses existing research that explains this relationship. One question under consideration is whether the stock market actually improves investment decisions.

  13. Firm Decisions: Determinants of Investments

    OpenAIRE

    Ionescu Alexandra

    2011-01-01

    The investment decision is part of a companies’ investment strategy. Defined as a logical set of technical and economic information, the investment strategy determines the main objectives of the firm regarding its investments, based on studies, analysis and simulations. It also establishes the actions to be undertaken in order to achieve the objectives, methods of achieving them, sources of funding and resource allocation methods. Still, all these are influenced by several factors. The invest...

  14. Retrospective Benefit-Cost Evaluation of U.S. DOE Vehicle Combustion Engine R&D Investments: Impacts of a Cluster of Energy Technologies

    Energy Technology Data Exchange (ETDEWEB)

    Link, Albert N. [Univ. of North Carolina, Greensboro, NC (United States)

    2010-05-01

    Advanced Combustion Engine R&D (ACE R&D) is one of the subprograms within DOE's Vehicle Technologies Office. The ACE subprogram's R&D is conducted in cooperation with the DOE Combustion Research Facility (CRF). This report summarizes the findings from a retrospective study of the net benefits to society from investments by DOE (both EERE and cooperative CRF efforts) in laser diagnostic and optical engine technologies and combustion modeling for heavy-duty diesel engines.

  15. Analysis of foreign direct investment in the Czech Republic

    Directory of Open Access Journals (Sweden)

    Marcela Domesová

    2011-01-01

    Full Text Available The foreign direct investments are joined with the process of world globalisation. Foreign direct investments are carried out especially by multinational companies. The basic forms of the foreign direct investments are “greenfield” investments and “brownfield“ investments in the form of the privatization. The Czech Republic has shown mass inflow of foreign direct investments since 1998. The aim of the paper is to evaluate the inflow of foreign direct investments in the context of the balance of payments and the evaluation their impact on the outside economic equilibrium and gross value added in the Czech Republic. The subject of the analysis is the identification of the most important factors of foreign direct investments inflow and the classification of foreign direct investments inflow from the point of view of branches and technological intensity of production as well. The aim is fulfilled by analysis of selected indicators of the balance of payments, analysis of gross value added and international comparison of foreign direct investments inflow in countries of Visegrad Group. The results show the part of privatization in foreign capital inflow, increasing import intensity and export efficiency linked with foreign direct investments. The results are subject of research focused on the process of world globalisation and regional development.

  16. Energetic particles in the heliosphere

    CERN Document Server

    Simnett, George M

    2017-01-01

    This monograph traces the development of our understanding of how and where energetic particles are accelerated in the heliosphere and how they may reach the Earth. Detailed data sets are presented which address these topics. The bulk of the observations are from spacecraft in or near the ecliptic plane. It is timely to present this subject now that Voyager-1 has entered the true interstellar medium. Since it seems unlikely that there will be a follow-on to the Voyager programme any time soon, the data we already have regarding the outer heliosphere are not going to be enhanced for at least 40 years.

  17. Thermal-spectrum recriticality energetics

    International Nuclear Information System (INIS)

    Schwinkendorf, K.N.

    1993-12-01

    Large computer codes have been created in the past to predict the energy release in hypothetical core disruptive accidents (CDA), postulated to occur in liquid metal reactors (LMR). These codes, such as SIMMER, are highly specific to LMR designs. More recent attention has focused on thermal-spectrum criticality accidents, such as for fuel storage basins and waste tanks containing fissile material. This paper resents results from recent one-dimensional kinetics simulations, performed for a recriticality accident in a thermal spectrum. Reactivity insertion rates generally are smaller than in LMR CDAs, and the energetics generally are more benign. Parametric variation of input was performed, including reactivity insertion and initial temperature

  18. Active interrogation using energetic protons

    International Nuclear Information System (INIS)

    Morris, Christopher L.; Chung, Kiwhan; Greene, Steven J.; Hogan, Gary E.; Makela, Mark; Mariam, Fesseha; Milner, Edward C.; Murray, Matthew; Saunders, Alexander; Spaulding, Randy; Wang, Zhehui; Waters, Laurie; Wysocki, Frederick

    2010-01-01

    Energetic proton beams provide an attractive alternative when compared to electromagnetic and neutron beams for active interrogation of nuclear threats because they have large fission cross sections, long mean free paths and high penetration, and they can be manipulated with magnetic optics. We have measured time-dependent cross sections and neutron yields for delayed neutrons and gamma rays using 800 MeV and 4 GeV proton beams with a set of bare and shielded targets. The results show significant signals from both unshielded and shielded nuclear materials. Measurements of neutron energies yield suggest a signature unique to fissile material. Results are presented in this paper.

  19. Structural energetics of noble metals

    International Nuclear Information System (INIS)

    Mujibur Rahman, S.M.

    1982-06-01

    Structural energetics of the noble metals, namely Cu, Ag, and Au are investigated by employing a single-parameter pseudopotential. The calculations show that the lowest energy for all of these metals corresponds to FCC - their observed crystal structure. The one-electron contribution to the free energy is found to dominate the structural prediction for these metals. The present investigation strongly emphasizes that the effects due to band hybridization and core-core exchange play a significant role on the structural stability of the noble metals. (author)

  20. Actual economic and energetics problems of Baltic countries

    International Nuclear Information System (INIS)

    Kapala, J.; Miskins, V.; Rudi, U.; Caikovska, M.; Zeltins, N.

    1999-01-01

    The paper characterises the economic development of the Baltic countries after they have restored the independence. The authors explore the dynamic of the key economic indices - the GDP and inflation level, and show that there are tendencies for the economy to improve. The data on the direct foreign investments per capita are given for each Baltic country as well as on the greatest foreign firms - investors functioning in Latvia and the investment allocation among the sectors. The State Investment Programme realised in Latvia since 1996 is well illustrated, and the share is shown of the sectors involved. The authors briefly discuss legislative activities in the energy sector for Latvia, Lithuania and Estonia, and present statistical data on the energy supply in Baltic countries. The energy production and import/export balance is analysed, and the tariffs for electricity are exemplified for all the three countries. The information is also given as to the number of energy debtors and the distributors of the debts for consumed energy among separate branches of energetics in Latvia and Lithuania. The data presented in the paper show that due to decrease in energy resource consumption the harmful pollution have also diminished. (author)

  1. The strategy of innovation and investment activity of the integrated agro-industrial enterprises

    OpenAIRE

    LYTNEVA N.A.; GONCHAROV P.V.; KYSHTYMOVA E.A.

    2015-01-01

    In this article reveals the relevance of research to improve the system of strategic planning of innovation and investment activity in the agricultural enterprise, types of planning innovative-investment activity of agrarian enterprises, software-oriented model of strategic planning of innovation and investment activities of AIC, the evaluation criteria of innovation and investment activity of agricultural enterprises.

  2. Solar energetic particles and radio burst emission

    Directory of Open Access Journals (Sweden)

    Miteva Rositsa

    2017-01-01

    Full Text Available We present a statistical study on the observed solar radio burst emission associated with the origin of in situ detected solar energetic particles. Several proton event catalogs in the period 1996–2016 are used. At the time of appearance of the particle origin (flare and coronal mass ejection we identified radio burst signatures of types II, III and IV by inspecting dynamic radio spectral plots. The information from observatory reports is also accounted for during the analysis. The occurrence of solar radio burst signatures is evaluated within selected wavelength ranges during the solar cycle 23 and the ongoing 24. Finally, we present the burst occurrence trends with respect to the intensity of the proton events and the location of their solar origin.

  3. Optimal investment horizons

    Science.gov (United States)

    Simonsen, I.; Jensen, M. H.; Johansen, A.

    2002-06-01

    In stochastic finance, one traditionally considers the return as a competitive measure of an asset, i.e., the profit generated by that asset after some fixed time span Δt, say one week or one year. This measures how well (or how bad) the asset performs over that given period of time. It has been established that the distribution of returns exhibits ``fat tails'' indicating that large returns occur more frequently than what is expected from standard Gaussian stochastic processes [1-3]. Instead of estimating this ``fat tail'' distribution of returns, we propose here an alternative approach, which is outlined by addressing the following question: What is the smallest time interval needed for an asset to cross a fixed return level of say 10%? For a particular asset, we refer to this time as the investment horizon and the corresponding distribution as the investment horizon distribution. This latter distribution complements that of returns and provides new and possibly crucial information for portfolio design and risk-management, as well as for pricing of more exotic options. By considering historical financial data, exemplified by the Dow Jones Industrial Average, we obtain a novel set of probability distributions for the investment horizons which can be used to estimate the optimal investment horizon for a stock or a future contract.

  4. Beyond the Investment Narrative

    Science.gov (United States)

    Moss, Peter

    2013-01-01

    The current policy interest in early childhood education and care is driven by an investment narrative, a story of quality and high returns emerging from a dominant neoliberal political economy. This short note expresses deep reservations about this narrative, and hints at another narrative that foregrounds democracy, experimentation and…

  5. Sudan Investment Climate Assessment

    OpenAIRE

    World Bank

    2009-01-01

    This report on Sudan's Investment Climate Assessment (ICA) provides a baseline assessment of challenges to productivity, diversification and inclusion. Chapter 1 describes some of the questions underlying the three issues of competitiveness, diversification and broad-based growth. Chapter 2 analyzes firm performance and competitiveness. Chapter 3 discusses markets and trust. Chapter 4 des...

  6. Investing in Youth: Brazil

    Science.gov (United States)

    OECD Publishing, 2014

    2014-01-01

    The series Investing in Youth builds on the expertise of the Organisation for Economic Cooperation and Development (OECD) on youth employment, social support and skills. It covers both OECD countries and countries in the process of accession to the OECD, as well as some emerging economies. This report provides a detailed diagnosis of the youth…

  7. Investments secure supply security

    International Nuclear Information System (INIS)

    Van Baarle, D.

    2006-01-01

    In order to guarantee the supply of energy considerable investment must be made to improve the infrastructure (e.g. capacity for LNG-transport and -storage) and ties with the natural gas supplier in the Russian Federation must be intensified [nl

  8. Energy Investment: Beyond Competence

    Science.gov (United States)

    Tosti, Donald T.; Amarant, John

    2005-01-01

    People vary considerably in their work performance as well as their overall approach to work. At one extreme are the outstanding performers, who approach work with enthusiasm and energy, and, at the other extreme, are those who seem to do only what is necessary to get by. Organizatins often invest a good deal of energy in trying to improve the…

  9. Inflation Protected Investment Strategies

    Directory of Open Access Journals (Sweden)

    Mirco Mahlstedt

    2016-03-01

    Full Text Available In this paper, a dynamic inflation-protected investment strategy is presented, which is based on traditional asset classes and Markov-switching models. Different stock market, as well as inflation regimes are identified, and within those regimes, the inflation hedging potential of stocks, bonds, real estate, commodities and gold are investigated. Within each regime, we determine optimal investment portfolios driven by the investment idea of protection from losses due to changing inflation if inflation is rising or high, but decoupling the performance from inflation if inflation is low. The results clearly indicate that these asset classes behave differently in different stock market and inflation regimes. Whereas in the long-run, we agree with the general opinion in the literature that stocks and bonds are a suitable hedge against inflation, we observe for short time horizons that the hedging potential of each asset class, especially of real estate and commodities, depend strongly on the state of the current market environment. Thus, our approach provides a possible explanation for different statements in the literature regarding the inflation hedging properties of these asset classes. A dynamic inflation-protected investment strategy is developed, which combines inflation protection and upside potential. This strategy outperforms standard buy-and-hold strategies, as well as the well-known 1 N -portfolio.

  10. Investing in Youth: Latvia

    Science.gov (United States)

    OECD Publishing, 2015

    2015-01-01

    The series Investing in Youth builds on the expertise of the Organisation for Economic Cooperation and Development (OECD) on youth employment, social support and skills. It covers both OECD countries and countries in the process of accession to the OECD, as well as some emerging economies. This report provides a detailed diagnosis of the youth…

  11. Investing in Youth: Lithuania

    Science.gov (United States)

    OECD Publishing, 2016

    2016-01-01

    The series Investing in Youth builds on the expertise of the Organisation for Economic Cooperation and Development (OECD) on youth employment, social support and skills. It covers both OECD countries and countries in the process of accession to the OECD, as well as some emerging economies. The present report on Lithuania is the fourth of a new…

  12. Investing in Diamonds

    NARCIS (Netherlands)

    Renneboog, Luc

    2015-01-01

    This paper examines the risk-return characteristics of investment grade gems (white diamonds, colored diamonds and other types of gems including sapphires, rubies, and emeralds). The transactions are coming from gem auctions and span the period 1999-2012. Over our time frame, the annual nominal USD

  13. Assystem valorizes the investments

    International Nuclear Information System (INIS)

    Anon.

    1995-01-01

    Assystem is a group of 60 contractor societies which ensures conception and dismantling of plants as well as a more complete valorization of industrial investment as controlling the production and information systems of the industries. Different examples of prestations proposed by Assystem are given. (O.L.). 3 figs

  14. Investments into education

    DEFF Research Database (Denmark)

    Kirchsteiger, Georg; Sebald, Alexander Christopher

    2006-01-01

    groups with differing human capital and welfare levels. Depending on the parameters of the model, a temporary or permanent public investment into human capital formation is needed to overcome steady states with low human capital and welfare levels. Furthermore, even the best steady state is suboptimal...

  15. Adaptation investments and homeownership

    DEFF Research Database (Denmark)

    Hansen, Jørgen Drud; Skak, Morten

    2008-01-01

    the home through a supplementary investment. Ownership offers low costs of adaptation, but has high contract costs compared with renting. Consumers simultaneously decide housing demand and tenure, and because of the different cost structure only consumers with strong preferences for individual adaptation...

  16. Adaptation investments and homeownership

    DEFF Research Database (Denmark)

    Hansen, Jørgen Drud; Skak, Morten

    2008-01-01

    by adapting the home through a supplementary investment. Ownership offers low costs of adaptation, but has high contract costs compared with renting. Consumers simultaneously choose housing demand and tenure, and because of the different cost structure only consumers with strong preferences for individual...

  17. Investing in Marine Scrubber under Uncertainty with Real Option Thinking

    DEFF Research Database (Denmark)

    Jiang, Liping; Hansen, Carsten Ørts

    works that examine the economic feasibility of scrubber retrofitting through the net present value rule, this paper applies the Real Option Analysis to find the optimal investment strategies. The proposed decision-making framework addresses the uncertainty and the value of deferral option embedded...... in the scrubber investment. The multiple sources of investment uncertainties are explicitly analyzed and integrated in the modeling by using Rainbow option. The results demonstrate that the value of the scrubber investment has significantly increased for several cases by considering the deferral option....... It is thus important for ship owners to consider the available options before proceeding with abandoning or investing strategy. The proposed framework can be widely applied to other ship retrofitting investment evaluations, which include similar investment alternatives and uncertainties....

  18. Investment Strategy and Efficiency of Investment Activity of European Insurers

    Directory of Open Access Journals (Sweden)

    Zhabynets Olga Yo.

    2014-02-01

    Full Text Available The article studies investment strategy and efficiency of investment activity of European insurance companies. In particular, it analyses the share of investments of insurance companies of Europe in GDP, investment portfolio of European insurers and its structure, contribution of insurance companies – leaders of investment activity – into the European investment portfolio. It studies influence of the financial crisis upon investment strategy of European insurers and analyses efficiency of investment activity of European insurers in risk insurance and life insurance. The article proves that investment business models of insurance companies are capable of resisting crisis phenomena more efficiently than other financial institutions. It marks out that measures of insurance companies that are directed at increase of profitability of investments require from them both significant expenditures on creation of the system of investment risk management and open access to different categories of financial assets and markets, which influences the general risk level, taken upon by an insurance company. The author draws a conclusion that, taking into account recent developments, European insurers should focus on equity and investment risk management, finding new possibilities for their (investments growth and also adaptation of new systems and operations for solution of these important tasks.

  19. Energetic Techniques For Planetary Defense

    Science.gov (United States)

    Barbee, B.; Bambacus, M.; Bruck Syal, M.; Greenaugh, K. C.; Leung, R. Y.; Plesko, C. S.

    2017-12-01

    Near-Earth Objects (NEOs) are asteroids and comets whose heliocentric orbits tend to approach or cross Earth's heliocentric orbit. NEOs of various sizes periodically collide with Earth, and efforts are currently underway to discover, track, and characterize NEOs so that those on Earth-impacting trajectories are discovered far enough in advance that we would have opportunities to deflect or destroy them prior to Earth impact, if warranted. We will describe current efforts by the National Aeronautics and Space Administration (NASA) and the National Nuclear Security Administration (NNSA) to assess options for energetic methods of deflecting or destroying hazardous NEOs. These methods include kinetic impactors, which are spacecraft designed to collide with an NEO and thereby alter the NEO's trajectory, and nuclear engineering devices, which are used to rapidly vaporize a layer of NEO surface material. Depending on the amount of energy imparted, this can result in either deflection of the NEO via alteration of its trajectory, or robust disruption of the NEO and dispersal of the remaining fragments. We have studied the efficacies and limitations of these techniques in simulations, and have combined the techniques with corresponding spacecraft designs and mission designs. From those results we have generalized planetary defense mission design strategies and drawn conclusions that are applicable to a range of plausible scenarios. We will present and summarize our research efforts to date, and describe approaches to carrying out planetary defense missions with energetic NEO deflection or disruption techniques.

  20. GLOBAL TRENDS OF ALTERNATIVE INVESTMENTS

    Directory of Open Access Journals (Sweden)

    Ivan LUCHIAN

    2016-08-01

    Full Text Available An alternative investment is an investment product other than the traditional investments of stocks, bonds, cash, or property. The term is a relatively loose one and includes tangible assets such as art, wine, antiques, coins, or stamps and some financial assets such as commodities, hedge funds, venture capital,and others. At the moment it was created a global industry opportunities for making investments in nontraditional form. The aim of this paper consists in demonstrating the possibilities of these investments. For this have been studied related main international markets, a fter then deducted world dominant trends. This article is concerned to present some details of alternative investments global market.

  1. ANALYSIS OF THE INVESTMENT RISK IN CRYPTOCURRENCY BITCOIN

    OpenAIRE

    Kinga Kądziołka

    2015-01-01

    The aim of the article was to evaluate the risks of investing in Bitcoin cryptocurrency. Particular attention was paid to the risk of investment on the Polish exchanges: Bitcurex, BitBay, BitMarket.pl and LocalBitcoins. To evaluate the risk there was used VaR measure. There were compared the risk of investing in Bitcoin cryptocurrency and the risk of investing in the selected "traditional" currencies. There was also paid attention to the effect of day of the week on the Bitcoin’s exchanges. T...

  2. Social Impact Investment: Increasing Private Sector Investment to ...

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

    The social impact investment market is now global in scope and it is rapidly expanding in some ... of social impact investing to address environmental, social, and economic challenges. ... New project to improve water management in the Sahel.

  3. Advocating investments in information technology

    International Nuclear Information System (INIS)

    Nirenberg, L.M.

    1992-01-01

    Information and communication systems can improve the timeliness and quality of decisions. These benefits are strategically important to the utility industry in an era of increasing competition. Because these systems often do not reduce labor cost, however, they can be difficult to evaluate. This report presents a new process for reaching consensus of the value of capital investment in information and communication systems. The results of this project is A Strategic Advocacy Process (ASAP), a methodology that can be used to evaluate investments in information technology. ASAP uses belief graphs to produce a living business case showing facts, assumptions, goals, and metrics for measuring progress toward those goals; shows how to use option pricing theory to quantify the value of managerial flexibility; ASAP uses an organizational impact assessment tool to identify the potential impact of new information systems and how to realize the benefits of managerial flexibility. The ASAP methodology addresses the critical problem of correctly valuing information and communication systems. The methodology offers a way to account for the ''intangible'' value of these systems by recognizing the managerial flexibility these systems can provide in addressing risks and uncovering new business opportunities. Metrics for measuring progress toward new goals can be defined, and plans for achieving the goals can be made. As a result, agreement can be reached on the uses, value, and priority of projects based on a metric other than on labor replacement savings

  4. Energetic materials and methods of tailoring electrostatic discharge sensitivity of energetic materials

    Energy Technology Data Exchange (ETDEWEB)

    Daniels, Michael A.; Heaps, Ronald J.; Wallace, Ronald S.; Pantoya, Michelle L.; Collins, Eric S.

    2016-11-01

    An energetic material comprising an elemental fuel, an oxidizer or other element, and a carbon nanofiller or carbon fiber rods, where the carbon nanofiller or carbon fiber rods are substantially homogeneously dispersed in the energetic material. Methods of tailoring the electrostatic discharge sensitivity of an energetic material are also disclosed.

  5. ESG Integration and the Investment Management Process : Fundamental Investing Reinvented

    NARCIS (Netherlands)

    van Duuren, Emiel; Plantinga, Auke; Scholtens, Bert

    2016-01-01

    We investigate how conventional asset managers account for environmental, social and governance factors (ESG) in their investment process. We do so on the basis of an international survey among fund managers. We find that many conventional managers integrate responsible investing in their investment

  6. ANALYSIS OF THE INVESTMENT RISK IN CRYPTOCURRENCY BITCOIN

    Directory of Open Access Journals (Sweden)

    Kinga Kądziołka

    2015-09-01

    Full Text Available The aim of the article was to evaluate the risks of investing in Bitcoin cryptocurrency. Particular attention was paid to the risk of investment on the Polish exchanges: Bitcurex, BitBay, BitMarket.pl and LocalBitcoins. To evaluate the risk there was used VaR measure. There were compared the risk of investing in Bitcoin cryptocurrency and the risk of investing in the selected "traditional" currencies. There was also paid attention to the effect of day of the week on the Bitcoin’s exchanges. The investment in cryptocurrency was characterized by higher risk than investing in “traditional” currencies. The Polish Bitcoin exchange LocalBitcoins was characterized by the highest risk and highest average daily rate of return.

  7. Options theory and strategic investment decisions

    International Nuclear Information System (INIS)

    Mann, D.; Goobie, G.; MacMillan, L.

    1992-01-01

    The possible use of options pricing theory for evaluating long-term capital investments is discussed. Using the Black and Scholes option pricing model, five variables were evaluated for a hypothetical oil sands project. These variables are: stock price as determined by the earning power of the company; exercise price which equals the investment cost of the project; price standard deviation which is assumed to be 50%; the length of time for which the company will maintain its option to invest in the project, and finally the risk free rate which is approximately equal to the yield in long term government securities. A sensitivity analysis on these variables can provide management with information on how best to influence the option value. A more in-depth analysis could provide valuable information about strategic choice for large projects. 5 refs., 3 figs

  8. Socially Responsible Investing

    DEFF Research Database (Denmark)

    Parisi, Cristiana; Stang, Andreas

    This paper analyzes the Scandinavian market for Socially Responsible Investing (SRI) mutual funds in order to determine the returns from discriminatory investment decision compared to the return from conventional portfolios. The analysis is conducted on 642 Scandinavian equity mutual funds...... counterparts. In the case of Norway no statistical difference in return is found when conducting the three factor regression. The Scandinavian market is considered particularly relevant for the interest of the investors in SRI mutual funds. However, to the authors’ knowledge, this is the first study to present....... The methodology adopts the Sharpe ratio to establish the risk return relationship. Moreover, the Capital Asset Pricing Model (CAPM) and the Fama and French Three Factor model are used to test the hypotheses. The results indicate the underperformance of Swedish and Danish SRI funds relative to their conventional...

  9. Investment Opportunities & Job Information

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    Shanghai Vacancies from Chinajob.com China Pacific Insurance (Group) Co. Ltd. Senior Investment Manager and Senior Accounting Analyst are needed, full time; annual salary: $50,000-100,000. China Europe International Business School wants professors or people with doctoral degrees to teach Accounting, Finance, Human Resources and Management, Strategic and General Management, Carving out Management, Production and Transportation Management, and Information Management Systems, full time. Salary starts at $1...

  10. BUSINESS ANGELS AND INVESTMENTS

    Directory of Open Access Journals (Sweden)

    CLAUDIA ISAC

    2015-12-01

    Full Text Available In this paper we have synthesized a part of legislative and conceptual elements linked to a new model of investors which is increasingly publicized in Romania, business angels. In the first part of the paper we have presented theoretical notions related to the concept of investments and to the importance of the investment decision at managerial level. Modern investments regarding, in particular, the launch of some products and services as well as the start-up of companies are dependent on the source of funding that can take many forms, one of them being that of business angels. Thus, the legislative framework in Romania represents an opportunity not only for those looking for sources of financing but also for investors seeking more flexible and more advantageous ways to place capital. Thus, at the end of the paper we have tried to reveal the main fiscal facilities from EU member countries in order to be studied by any business angel and the most important organizations offering information on the business angels’ portfolio.

  11. Energetic evolution of cellular Transportomes

    DEFF Research Database (Denmark)

    Darbani, Behrooz; Kell, Douglas B.; Borodina, Irina

    2018-01-01

    of the transition from prokaryotes to eukaryotes. The transportome analysis also indicated seven bacterial species, including Neorickettsia risticii and Neorickettsia sennetsu, as likely origins of the mitochondrion in eukaryotes, based on the phylogenetically restricted presence therein of clear homologues......) than in primitive eukaryotes (13%), algae and plants (10%) and in fungi and animals (5–6%). This decrease is compensated by an increased occurrence of secondary transporters and ion channels. The share of ion channels is particularly high in animals (ca. 30% of the transportome) and algae and plants...... of modern mitochondrial solute carriers. Conclusions: The results indicate that the transportomes of eukaryotes evolved strongly towards a higher energetic efficiency, as ATP-dependent transporters diminished and secondary transporters and ion channels proliferated. These changes have likely been important...

  12. Cosmic Ray Energetics and Mass

    CERN Multimedia

    Baylon cardiel, J L; Wallace, K C; Anderson, T B; Copley, M

    The cosmic-ray energetics and mass (CREAM) investigation is designed to measure cosmic-ray composition to the supernova energy scale of 10$^{15}$ eV in a series of ultra long duration balloon (ULDB) flights. The first flight is planned to be launched from Antarctica in December 2004. The goal is to observe cosmic-ray spectral features and/or abundance changes that might signify a limit to supernova acceleration. The particle ($\\{Z}$) measurements will be made with a timing-based charge detector and a pixelated silicon charge detector to minimize the effect of backscatter from the calorimeter. The particle energy measurements will be made with a transition radiation detector (TRD) for $\\{Z}$ > 3 and a sampling tungsten/scintillator calorimeter for $\\{Z}$ $\\geq$1 particles, allowing inflight cross calibration of the two detectors. The status of the payload construction and flight preparation are reported in this paper.

  13. Energetic model of metal hardening

    Directory of Open Access Journals (Sweden)

    Ignatova O.N.

    2011-01-01

    Full Text Available Based on Bailey hypothesis on the link between strain hardening and elastic lattice defect energy this paper suggests a shear strength energetic model that takes into consideration plastic strain intensity and rate as well as softening related to temperature annealing and dislocation annihilation. Metal strain hardening was demonstrated to be determined only by elastic strain energy related to the energy of accumulated defects. It is anticipated that accumulation of the elastic energy of defects is governed by plastic work. The suggested model has a reasonable agreement with the available experimental data for copper up to P = 70 GPa , for aluminum up to P = 10 GPa and for tantalum up to P = 20 GPa.

  14. Energetic transition in the electric sector: Brazilian case

    International Nuclear Information System (INIS)

    Jannuzzi, Gilberto de Martino

    1999-01-01

    The Brazilian electric sector is essentially based on a source of renewable energy -hydroelectricity, and the national economy has increased its dependence of the electricity. The use of the electricity for unit of GDP increased in continuous form from 1970 and the country has serious difficulties in the financing of the expansion of the electric production. Energetic politics, in what concerns to the sustainable development in the Brazilian case, should direct its efforts toward a bigger investment in efficiency and energy conservation. a bigger use of supply options that they are renewable and decentralized will depend on high degree of the regulation of the electric sector during the privatization. The transition stage of the Brazilian electric sector will imply more efforts toward a handling based on the demand and a bigger efficiency

  15. Sistemática para avaliação multicriterial de investimentos no desenvolvimento de produtos A systematic analysis for multi-criteria evaluation of product development investments

    Directory of Open Access Journals (Sweden)

    Alejandro Germán Frank

    2011-01-01

    Full Text Available Este artigo apresenta uma sistemática para avaliação multicriterial de investimentos associados ao desenvolvimento de produtos. A sistemática proposta se apoia nos critérios-chave a serem considerados na tomada de decisão. Ela é baseada na utilização dos métodos de avaliação econômica de investimentos VPL e payback, assim como nas ferramentas de desenvolvimento de produtos, QFD (Quality Function Deployment e SWOT (Strenght-Weaknesses-Oportunities-Threats, utilizadas como suporte para a construção do método de avaliação multicriterial MAUT (Multiattribute Utility Theory. A sistemática proposta apresenta duas contribuições principais: i a análise integrada de três critérios-chave para a decisão de investimentos em novos produtos: rentabilidade (considerada na avaliação econômica, qualidade (considerada no QFD e estratégia (considerada no SWOT e ii uma modificação nas ponderações utilizadas na avaliação do MAUT, que reduz a subjetividade da atribuição de valores. A abordagem proposta foi avaliada em um caso aplicado e os resultados obtidos são discutidos.This paper presents a systematic analysis for multi-criteria evaluation of product development investments. The proposed systematic analysis is supported by key criteria to be considered during decision making. It is based on the use of traditional investment evaluation methods, such as NPV and payback, as well as in product development tools - QFD and SWOT. These tools are employed to assist the construction of the multi-criteria evaluation method, which follows the precepts of the Multi-attribute Utility Theory (MAUT. The proposed systematic analysis provides two main contributions: i it integrates three key criteria concerning new product investment decisions: profit (considered by the economic evaluation, quality (considered by QFD, and strategy (considered by SWOT; ii it includes a modification in the definition of the weights used by the MAUT evaluation

  16. RISKS IN INVESTMENT AND MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Ms. Tatiana A. Ykovleva

    2016-12-01

    Full Text Available The article discusses the features of investment risks and their causes, as well as provides a detailed classification of investment risks. The authors reveal the essence and content of the investment process, risk management, providing material for presentation in the form of a diagram. In conclusion, the article explains the use of the system of specialized institutions as a way to exclude the basic, or primary investment risk.

  17. A basic guide to investing.

    Science.gov (United States)

    Smith, Michael C

    2006-03-01

    Today's investors have many choices. From seemingly simple investments, such as stocks, bonds and cash, to more complicated option strategies, there is a dizzying array of investment vehicles that can leave even the most seasoned investor a bit confused. In discussions with our clients, one common thread is the desire to learn more about the various types of investments available. Following is a basic guide to the most common investments and the risks inherent in those choices.

  18. Energetic Physiology Mediates Individual Optimization of Breeding Phenology in a Migratory Arctic Seabird.

    Science.gov (United States)

    Hennin, Holly L; Bêty, Jöel; Legagneux, Pierre; Gilchrist, H Grant; Williams, Tony D; Love, Oliver P

    2016-10-01

    The influence of variation in individual state on key reproductive decisions impacting fitness is well appreciated in evolutionary ecology. Rowe et al. (1994) developed a condition-dependent individual optimization model predicting that three key factors impact the ability of migratory female birds to individually optimize breeding phenology to maximize fitness in seasonal environments: arrival condition, arrival date, and ability to gain in condition on the breeding grounds. While empirical studies have confirmed that greater arrival body mass and earlier arrival dates result in earlier laying, no study has assessed whether individual variation in energetic management of condition gain effects this key fitness-related decision. Using an 8-year data set from over 350 prebreeding female Arctic common eiders (Somateria mollissima), we tested this component of the model by examining whether individual variation in two physiological traits influencing energetic management (plasma triglycerides: physiological fattening rate; baseline corticosterone: energetic demand) predicted individual variation in breeding phenology after controlling for arrival date and body mass. As predicted by the optimization model, individuals with higher fattening rates and lower energetic demand had the earliest breeding phenology (shortest delays between arrival and laying; earliest laying dates). Our results are the first to empirically determine that individual flexibility in prebreeding energetic management influences key fitness-related reproductive decisions, suggesting that individuals have the capacity to optimally manage reproductive investment.

  19. IMPROVING THE QUALITY OF INVESTMENT DESIGN IN INDUSTRIAL CONSTRUCTION

    Directory of Open Access Journals (Sweden)

    I. M. Meylanov

    2017-01-01

    Full Text Available Objectives. The development of a set of practical measures in order to improve the quality of investment design in industrial construction.Methods. The basis of research comprises a project management methodology as well as methods for logical and statistical analysis of decisionmaking in investment activities.Results. A mechanism of inclusion of industrial construction objects into the Federal targeted investment programme is revealed. The sequence of the state expert evaluation of investment projects is determined, which optimises the design solutions aimed at minimising their estimated cost if the investment is made with the involvement of the Federal budget. Qualitative and quantitative criteria are systematised for the integrated assessment of the effectiveness of investment fund usage sent to industrial construction objects.Conclusion. The consistent implementation of the state investment policy is aimed at developing the scientific-technological and scientific-industrial potential of industrial construction by providing favourable conditions for effective innovation activity, selecting rational investment strategies and priority projects aimed at solving urgent problems of improving the competitiveness of construction. Successful implementation of the state investment policy in industrial construction largely depends on the effectiveness of investment design, starting from the accuracy of the formulation of the investment plan (idea, in which the interests of all participants in investment activities are concentrated and taken into account, and to the development of an agreed set of actions to complete the project. A unified register covering the data on the cost and results of investment projects is proposed to be created with the purpose of facilitating decision-making in the process of allocation of the Federal budget funds, planning of state capital investments and approval of project documentation for new industrial construction

  20. Ecological problems of thermonuclear energetics. Review

    Energy Technology Data Exchange (ETDEWEB)

    Sivintsev, Yu V

    1980-01-01

    A review of preliminary quantitative estimates of radiation hazard of thermonuclear reactors is presented. Main attention is given to three aspects: nonradiation effect on environment, radionuclide blow-ups at normal operation and emergency situations with their consequences. The given data testify to great radiological advantages of thermonuclear energetics as compared with the modern nuclear energetics with thermal and prospective fast reactors.

  1. Heat sources for heat pumps in the energetic and economic comparison

    International Nuclear Information System (INIS)

    Bockelmann, Franziska; Fisch, M. Norbert; Schlosser, Mathias; Peter, Markus

    2016-01-01

    Because of the growing application of heat pumps also the number of potentially usable low-temperature heat sources and corresponding heat exchangers for heat-pump systems present in the market increases. Thereby products like energy fences, high-power piles, ore ice reservoir come into applications without any knowledge ab out their power or the cost-profit ratio. The optimized lay-out of the coupling to the building are however essential conditions in order to reach an energy-efficient and durable operation of the facilities. The research project ''future heat pump'' sponsored by the BMWi is dedicated to the energetic and economic evaluation of heat sources for heat pumps. In this connection a pre-check-tool for the preliminary selection of low-temperature heat sources and connected, suitable heat-exchange systems is developed and their actual status of development presented. The holistic, comparing consideration of the different heat sources and heat-exchanger systems is related among others to the power numbers of the heat pumps, the entry and withdrawal services of the heat-exchangers, and the general performance of the systems. Additionally an estimation of economic and ecologic aspects (investment and operation costs, CO_2 emissions) is made. Aim is the determination of the plausibility of applications and essential boundary conditions of single source systems. For the qualitative comparison in a project-accompanying monitoring different facilities and source systems are measurement-technically comprehended.

  2. SELF-EVALUATION OF THE NECESSARY SOCIO-ECONOMIC AND DIGITAL COMPETENCE OF SCHOOL STUDENTS OF INVESTMENT IN EDUCATION IN THE PROCESS OF ´EVER RISING´ IMMIGRATION

    Directory of Open Access Journals (Sweden)

    Mirela Tolić

    2017-12-01

    Full Text Available Globalization is frequently viewed in economic and environmental terms. Goods and services move easily across regions and national boundaries. The United States, the European Union, and countless other nation-states and political bodies are struggling to define attitudes and policies towards immigrants and immigration for the 21st Century. The debate over language is often a heated one. Most nations encourage newcomers to learn the national language. Language can be seen as a mechanism for integration and acculturation. For full participation in the national and political life of a country, immigrants benefit from knowledge of the language. Just an Investment in Education in the process of learning the language immigration country Germany considers very important socio-economic factor in the process of socialization of immigrants. Where language differences are accepted, there are costs such as bi-lingual education, multi-lingual signs and instructions, and a constant need for qualified interpreters. Language is fluid and constantly changes, especially in terms of the development´s informational and communication technologies where it´s necessary adoption of digital competence. Digital society implies a transformation of the traditional way of life and the economic, industrial, educational, and labor changes as well as changes of personal and individual way of existence, but also the question of the "new" partnership in education. The study was conducted on N=185 students of higher education institutions in German among various constituents (faculties and departments in Mannheim, Mainz, and Heidelberg. The research was conducted during winter semester 2016/2017 academic year, from November 9 to January 14. The survey instrument used was the first part of the questionnaire to record students’ opinions on different variables related to various multimedia foreign language learning tool. Research results show that students feel that it

  3. From green investments to ecotax

    International Nuclear Information System (INIS)

    Stam, B.

    1996-01-01

    Since 1991 several fiscal regulations are in effect for businesses, energy companies and civilians to invest in environmental and renewable projects. Although those so-called 'green investment' options are a great success, there is another, less positive, side to that success. Characteristics, advantages and disadvantages of several fiscal tools to invest in renewable energy are briefly discussed

  4. Chinese investments in the EU

    NARCIS (Netherlands)

    Ebbers, H.A.; Zhang, J.

    2010-01-01

    China’s investments in the European Union are much lower than what you may expect given the economic size of both entities. These relatively low investments in Europe are a combination of priority and obstacles. The priority for investments is clearly in Asia, Africa and Latin America. This regional

  5. Crisis will impact investments

    International Nuclear Information System (INIS)

    Anon.

    2008-01-01

    This paper summarizes the content of Capgemini's 10. European Energy Markets Observatory (EEMO) report. The EEMO is an annual report that tracks the progress in establishing an open and competitive electricity and gas market in the 27 European countries, including Norway and Switzerland. This tenth edition is based on 2007 and winter 2007-2008 data sets. A 1 trillion euros infrastructure investment is required to build the plants, electrical lines and gas pipelines needed in Europe over the next 25 years. Although today's credit crunch could severely hurt the investment cycle, analysts also anticipate a difficult period for the European energy markets once the recession is over. The report said that Europe has yet to solve the related issues of responding to its energy demand, while curbing its carbon dioxide (CO 2 ) emissions. In 2007, even at a slower pace than previous years, analysts said European electricity consumption still increased by 0.9% and CO 2 emissions stabilized, instead of decreasing. Despite the mild weather, the electricity security of supply deteriorated, analysts said. The Union for the Coordination of Transmission of Electricity (UCTE) real margin - which takes into account non-usable and unavailable generation capacities - dropped from 7.6% in 2006 to 5.3% in 2007. Analysts said without a significant and vigorous investment program in electricity and gas infrastructures, Europe's energy supply security will be threatened. Since the low point in 2005, utilities started to invest again, but have made energy mix choices that are not moving toward a reduction in CO 2 emissions as the majority (58%) of the planned generation capacities will be fossil-fueled. In 2007, investments in renewable capacities grew fast, wind being the industry's preference, with an addition of 8.3 gigawatt (GW) renewables in Europe. However, analysts said this type of 'non-scheduable' source is not always available during peak hours. This partially explains the security

  6. On Evaluation Indicators of Overseas Oil-gas Project Investment and Financing Environment and Method Selection%海外油气项目投融资环境评价指标及方法选择

    Institute of Scientific and Technical Information of China (English)

    彭民; 马海超; 李义鹏

    2012-01-01

    海外油气项目投融资环境评价是降低油气项目投资风险的一项重要工作。从制度、金融、政治、经济四方面研究海外油气项目投融资环境评价指标体系,并运用层次结构分析法和多因素及关键因素分析法对其投融资环境进行评价。两种方法评价结果对比发现,二者有一定的吻合度,结果稍有不同,说明两种方法可同时用于油气项目投融资环境评价中。%Environmental evaluation of investment and financing of overseas oil-gas project is to reduce the risk of oil-gas project investment, which is an important task. From four aspects of system, finance, politics, economies, a study has been made of overseas oil-gas project financing environmental evaluation index system, and evaluation is carried out with the use of hierarchical structure analysis approach and multi-factor and key factor analysis approach. Comparing the two methods, it is found that they have a certain degree of matching, with the result being slightly different, thus illustrating that the two methods can be used for oil-gas project financing environmental evaluation.

  7. Innovation investment area: Technology summary

    International Nuclear Information System (INIS)

    1994-03-01

    The mission of Environmental Management's (EM) Office of Technology Development (OTD) Innovation Investment Area is to identify and provide development support for two types of technologies that are developed to characterize, treat and dispose of DOE waste, and to remediate contaminated sites. They are: technologies that show promise to address specific EM needs, but require proof-of-principle experimentation; and (2) already proven technologies in other fields that require critical path experimentation to demonstrate feasibility for adaptation to specific EM needs. The underlying strategy is to ensure that private industry, other Federal Agencies, universities, and DOE National Laboratories are major participants in developing and deploying new and emerging technologies. To this end, about 125 different new and emerging technologies are being developed through Innovation Investment Area's (IIA) two program elements: RDDT ampersand E New Initiatives (RD01) and Interagency Agreements (RD02). Both of these activities are intended to foster research and development partnerships so as to introduce innovative technologies into other OTD program elements for expedited evaluation

  8. Innovation investment area: Technology summary

    Energy Technology Data Exchange (ETDEWEB)

    1994-03-01

    The mission of Environmental Management`s (EM) Office of Technology Development (OTD) Innovation Investment Area is to identify and provide development support for two types of technologies that are developed to characterize, treat and dispose of DOE waste, and to remediate contaminated sites. They are: technologies that show promise to address specific EM needs, but require proof-of-principle experimentation; and (2) already proven technologies in other fields that require critical path experimentation to demonstrate feasibility for adaptation to specific EM needs. The underlying strategy is to ensure that private industry, other Federal Agencies, universities, and DOE National Laboratories are major participants in developing and deploying new and emerging technologies. To this end, about 125 different new and emerging technologies are being developed through Innovation Investment Area`s (IIA) two program elements: RDDT&E New Initiatives (RD01) and Interagency Agreements (RD02). Both of these activities are intended to foster research and development partnerships so as to introduce innovative technologies into other OTD program elements for expedited evaluation.

  9. Tool to Prioritize Energy Efficiency Investments

    Energy Technology Data Exchange (ETDEWEB)

    Farese, Philip [National Renewable Energy Lab. (NREL), Golden, CO (United States); Gelman, Rachel [National Renewable Energy Lab. (NREL), Golden, CO (United States); Hendron, Robert [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2012-08-01

    To provide analytic support of the U.S. Department of Energy's Office of the Building Technology Program (BTP), NREL developed a Microsoft Excel-based tool to provide an open and objective comparison of the hundreds of investment opportunities available to BTP. This tool uses established methodologies to evaluate the energy savings and cost of those savings.

  10. A new numerical technique to design satellite energetic electron detectors

    CERN Document Server

    Tuszewski, M G; Ingraham, J C

    2002-01-01

    Energetic charged particles trapped in the magnetosphere are routinely detected by satellite instruments. However, it is generally difficult to extract quantitative energy and angular information from such measurements because the interaction of energetic electrons with matter is rather complex. Beam calibrations and Monte-Carlo (MC) simulations are often used to evaluate a flight instrument once it is built. However, rules of thumb and past experience are common tools to design the instrument in the first place. Hence, we have developed a simple numerical procedure, based on analytical probabilities, suitable for instrumental design and evaluation. In addition to the geometrical response, the contributions of surface backscattering, edge penetration, and bremsstrahlung radiation are estimated. The new results are benchmarked against MC calculations for a simple test case. Complicated effects, such as the contribution of the satellite to the instrumental response, can be estimated with the new formalism.

  11. Evaluation rapide du coût d'un investissement: méthode des modules fonctionnels Quick Evaluation of the Cost of an Investment: the Functional Module Method

    Directory of Open Access Journals (Sweden)

    Bergman J.

    2006-11-01

    'aide d'abaques. Conçue pour être appliquée lors des étapes préliminaires du développement d'un procédé, ou pour l'obtention d'une évaluation rapide, la Méthode des Modules Fonctionnels s'est avérée suffisamment précise pour être aussi utilisée dans l'estimation du coût d'équipements préalablement dimensionnés. The application of statistical multivariate data analysismethods to a wide range of data samples, obtained either directly from private information sources or from a sizing and detailed-estimation software, has led to the development of a new method for the quick evaluation of the cost of an investment. This method is called the Functional Module Method. In the past, several so-called modular design procedures have been proposed. In the present case, however, this is the first attempt known in the field of the use of techniques such as principal-components analysis, principal factor analysis by distance table and multiple linear regression, to develop a modular structure for estimating the cost of an investment. These changes compared to the modular procedure, which has been used to date by the IFP Project Evaluation Department (Manuel d'évaluation économique des procédés, Editions Technip, Paris, 1976, concern the definition and organization of modules capable of being identified in any chemical processing plant. The functional approach in this lcase is based on the unit operating concept of chemical engineering and no longer on a pre-specified equipment basis, for example, so that the so-called functional modules can be created. All that needs to be used is a process flowsheet indicating the principal pieces of equipment; the nature of the products processed; a material balance that is at least overall, and if possible that. is detailed for the essential lines; the mean operating conditions. The results may be obtained either via equations capable of being programmed on a pocket calculator or by using charts, as is described here. The

  12. Greenland and Chinese outbound investments

    DEFF Research Database (Denmark)

    Mouyal, Lone Wandahl; Mortensen, Bent Ole Gram; Su, Jingjing

    2017-01-01

    -Government seeks to develop new business sectors and to attract foreign investment, including investments from China, to develop especially its mineral resources. China now is the second largest economy in the world and the outbound investments by Chinese companies presents unprecedented opportunities for both...... Chinese companies and their global partners. However, Chinese outbound investment faces many hurdles both at home and outside. This article analyzes some of the main aspects in relation to regulatory hurdles, political obstacles as well as environmental, labor and financial challenges primarily focusing...... on investments in the mining industry....

  13. Energetics, Biomechanics, and Performance in Masters' Swimmers: A Systematic Review.

    Science.gov (United States)

    Ferreira, Maria I; Barbosa, Tiago M; Costa, Mário J; Neiva, Henrique P; Marinho, Daniel A

    2016-07-01

    Ferreira, MI, Barbosa, TM, Costa, MJ, Neiva, HP, and Marinho, DA. Energetics, biomechanics, and performance in masters' swimmers: a systematic review. J Strength Cond Res 30(7): 2069-2081, 2016-This study aimed to summarize evidence on masters' swimmers energetics, biomechanics, and performance gathered in selected studies. An expanded search was conducted on 6 databases, conference proceedings, and department files. Fifteen studies were selected for further analysis. A qualitative evaluation of the studies based on the Quality Index (QI) was performed by 2 independent reviewers. The studies were thereafter classified into 3 domains according to the reported data: performance (10 studies), energetics (4 studies), and biomechanics (6 studies). The selected 15 articles included in this review presented low QI scores (mean score, 10.47 points). The biomechanics domain obtained higher QI (11.5 points), followed by energetics and performance (10.6 and 9.9 points, respectively). Stroke frequency (SF) and stroke length (SL) were both influenced by aging, although SF is more affected than SL. Propelling efficiency (ηp) decreased with age. Swimming performance declined with age. The performance declines with age having male swimmers deliver better performances than female counterparts, although this difference tends to be narrow in long-distance events. One single longitudinal study is found in the literature reporting the changes in performance over time. The remaining studies are cross-sectional designs focusing on the energetics and biomechanics. Overall, biomechanics parameters, such as SF, SL, and ηp, tend to decrease with age. This review shows the lack of a solid body of knowledge (reflected in the amount and quality of the articles published) on the changes in biomechanics, energetics, and performance of master swimmers over time. The training programs for this age-group should aim to preserve the energetics as much as possible and, concurrently, improve the

  14. ENERGETIC FERMI/LAT GRB 100414A: ENERGETIC AND CORRELATIONS

    International Nuclear Information System (INIS)

    Urata, Yuji; Tsai, Patrick P.; Huang, Kuiyun; Yamaoka, Kazutaka; Tashiro, Makoto S.

    2012-01-01

    This study presents multi-wavelength observational results for energetic GRB 100414A with GeV photons. The prompt spectral fitting using Suzaku/WAM data yielded spectral peak energies of E src peak of 1458.7 +132.6 –106.6 keV and E iso of 34.5 +2.0 –1.8 × 10 52 erg with z = 1.368. The optical afterglow light curves between 3 and 7 days were effectively fitted according to a simple power law with a temporal index of α = –2.6 ± 0.1. The joint light curve with earlier Swift/UVOT observations yields a temporal break at 2.3 ± 0.2 days. This was the first Fermi/LAT detected event that demonstrated the clear temporal break in the optical afterglow. The jet opening angle derived from this temporal break was 5. 0 8, consistent with those of other well-observed long gamma-ray bursts (GRBs). The multi-wavelength analyses in this study showed that GRB 100414A follows E src peak -E iso and E src peak -E γ correlations. The late afterglow revealed a flatter evolution with significant excesses at 27.2 days. The most straightforward explanation for the excess is that GRB 100414A was accompanied by a contemporaneous supernova. The model light curve based on other GRB-SN events is marginally consistent with that of the observed light curve.

  15. GLOBAL ENERGETICS OF SOLAR FLARES. IV. CORONAL MASS EJECTION ENERGETICS

    International Nuclear Information System (INIS)

    Aschwanden, Markus J.

    2016-01-01

    This study entails the fourth part of a global flare energetics project, in which the mass m cme , kinetic energy E kin , and the gravitational potential energy E grav of coronal mass ejections (CMEs) is measured in 399 M and X-class flare events observed during the first 3.5 years of the Solar Dynamics Observatory (SDO) mission, using a new method based on the EUV dimming effect. EUV dimming is modeled in terms of a radial adiabatic expansion process, which is fitted to the observed evolution of the total emission measure of the CME source region. The model derives the evolution of the mean electron density, the emission measure, the bulk plasma expansion velocity, the mass, and the energy in the CME source region. The EUV dimming method is truly complementary to the Thomson scattering method in white light, which probes the CME evolution in the heliosphere at r ≳ 2 R ⊙ , while the EUV dimming method tracks the CME launch in the corona. We compare the CME parameters obtained in white light with the LASCO/C2 coronagraph with those obtained from EUV dimming with the Atmospheric Imaging Assembly onboard the SDO for all identical events in both data sets. We investigate correlations between CME parameters, the relative timing with flare parameters, frequency occurrence distributions, and the energy partition between magnetic, thermal, nonthermal, and CME energies. CME energies are found to be systematically lower than the dissipated magnetic energies, which is consistent with a magnetic origin of CMEs.

  16. [Several problems concerning population investment].

    Science.gov (United States)

    Liu, Z

    1982-07-29

    Population investment is a major topic in the studies of population and economic relations. In this particular area, numerous theoretical and practical problems are still in need of solution. Concerning the problem of population concept, there are three different approaches: (1) to determine the definition of population investment from the relationship between the population growth and the capital from national income used for investment, including investment in the newly increased population and investment in the entire population; (2) to explain population investment from the economic viewpoint that people are producers; and (3) to explain population investment from the expense needed to change a simple labor force to a skillful labor force. The expenses include educational costs, maintanance spending, wages needed to compensate workers in labor, costs for workers to master and learn modern scientific techniques to be used for production, and the costs of keeping a young labor force in the next generation.

  17. Investment for the future

    International Nuclear Information System (INIS)

    Sprigarde, G.

    1994-01-01

    In view of the increasing requirements concerning availability and safety of power plants, their economical operation and the environmental protection and safeguarding of resources, the new process control system ''Teleperm XP'' for power plants has been developed. A modern and purposeful system architecture, together with the use of the most innovative standards of hardware and software, makes it possible to maintain the short innovation cycles in microelectronics, and thus to secure investments for the future during the entire lifetime of a power station. (orig.) [de

  18. Gas trade and investments

    International Nuclear Information System (INIS)

    Chabrelie, M.F.

    2000-01-01

    The WOC 9 workshop of the CMG 2000 world gas congress was devoted to gas projects and economics. One round table chaired by G. Bouchard (Gaz de France) and T.H. Thorn (Enron) was devoted to the commercial and financial challenges the gas industry will have to face in the context of inter-region markets and investments. This article summarizes the discussion that took place during this round table: towards a progressive un-partitioning of regional markets, the strategic changes in the European gas market, the LNG industry: new actors and new markets, the gas producers at the crossroads. (J.S.)

  19. Defining Investment Additionality for CDM projects - practical approaches

    International Nuclear Information System (INIS)

    Greiner, Sandra; Michaelowa, Axel

    2003-01-01

    The environmental integrity of the CDM under the Kyoto Protocol depends on the possibility to avoid giving emission credits to projects that would have happened anyway. Whether and how 'Investment Additionality' of CDM projects has to be determined is currently a part of climate negotiations. We discuss the rationale of companies to invest in projects and analyse possible criteria to determine Investment Additionality from a theoretical point of view. Differences in the type of investment call for the application of different criteria. Although some criteria are better than others, no single criterion can outweigh the others in all respects. We therefore suggest a scheme for additionality testing that aims at matching types of investment and criteria in a sensible way. Criteria are evaluated on the grounds of robustness to manipulation, degree of coverage and appropriateness for testing the investment decision under consideration

  20. Optimising investment performance through international diversification

    Directory of Open Access Journals (Sweden)

    J. Swart

    2014-01-01

    Full Text Available International portfolio diversification is often advocated as a way of enhancing portfolio performance particularly through the reduction of portfolio risk. Portfolio managers in Europe have for decades routinely invested a substantial portion of their portfolios in securities that were issued in other countries. During the last decade US investors have held a significant amount of foreign securities with over a trillion dollars invested in foreign assets by 1994. South African institutions have been allowed some freedom to diversify internationally since mid 1995 and individual investors since July 1997. In this paper the potential diversification benefits for South African investors are considered. The stability over time of the correlation structure is investigated and simple ex-ante investment strategies are formulated and evaluated.

  1. Optimal Time to Invest Energy Storage System under Uncertainty Conditions

    Directory of Open Access Journals (Sweden)

    Yongma Moon

    2014-04-01

    Full Text Available This paper proposes a model to determine the optimal investment time for energy storage systems (ESSs in a price arbitrage trade application under conditions of uncertainty over future profits. The adoption of ESSs can generate profits from price arbitrage trade, which are uncertain because the future marginal prices of electricity will change depending on supply and demand. In addition, since the investment is optional, an investor can delay adopting an ESS until it becomes profitable, and can decide the optimal time. Thus, when we evaluate this investment, we need to incorporate the investor’s option which is not captured by traditional evaluation methods. In order to incorporate these aspects, we applied real option theory to our proposed model, which provides an optimal investment threshold. Our results concerning the optimal time to invest show that if future profits that are expected to be obtained from arbitrage trade become more uncertain, an investor needs to wait longer to invest. Also, improvement in efficiency of ESSs can reduce the uncertainty of arbitrage profit and, consequently, the reduced uncertainty enables earlier ESS investment, even for the same power capacity. Besides, when a higher rate of profits is expected and ESS costs are higher, an investor needs to wait longer. Also, by comparing a widely used net present value model to our real option model, we show that the net present value method underestimates the value for ESS investment and misleads the investor to make an investment earlier.

  2. A model for optimization of process integration investments under uncertainty

    International Nuclear Information System (INIS)

    Svensson, Elin; Stroemberg, Ann-Brith; Patriksson, Michael

    2011-01-01

    The long-term economic outcome of energy-related industrial investment projects is difficult to evaluate because of uncertain energy market conditions. In this article, a general, multistage, stochastic programming model for the optimization of investments in process integration and industrial energy technologies is proposed. The problem is formulated as a mixed-binary linear programming model where uncertainties are modelled using a scenario-based approach. The objective is to maximize the expected net present value of the investments which enables heat savings and decreased energy imports or increased energy exports at an industrial plant. The proposed modelling approach enables a long-term planning of industrial, energy-related investments through the simultaneous optimization of immediate and later decisions. The stochastic programming approach is also suitable for modelling what is possibly complex process integration constraints. The general model formulation presented here is a suitable basis for more specialized case studies dealing with optimization of investments in energy efficiency. -- Highlights: → Stochastic programming approach to long-term planning of process integration investments. → Extensive mathematical model formulation. → Multi-stage investment decisions and scenario-based modelling of uncertain energy prices. → Results illustrate how investments made now affect later investment and operation opportunities. → Approach for evaluation of robustness with respect to variations in probability distribution.

  3. Layout design and energetic analysis of a complex diesel parallel hybrid electric vehicle

    International Nuclear Information System (INIS)

    Finesso, Roberto; Spessa, Ezio; Venditti, Mattia

    2014-01-01

    Highlights: • Layout design, energetic and cost analysis of complex parallel hybrid vehicles. • Development of global and real-time optimizers for control strategy identification. • Rule-based control strategies to minimize fuel consumption and NO x . • Energy share across each working mode for battery and thermal engine. - Abstract: The present paper is focused on the design, optimization and analysis of a complex parallel hybrid electric vehicle, equipped with two electric machines on both the front and rear axles, and on the evaluation of its potential to reduce fuel consumption and NO x emissions over several driving missions. The vehicle has been compared with two conventional parallel hybrid vehicles, equipped with a single electric machine on the front axle or on the rear axle, as well as with a conventional vehicle. All the vehicles have been equipped with compression ignition engines. The optimal layout of each vehicle was identified on the basis of the minimization of the overall powertrain costs during the whole vehicle life. These costs include the initial investment due to the production of the components as well as the operating costs related to fuel consumption and to battery depletion. Identification of the optimal powertrain control strategy, in terms of the management of the power flows of the engine and electric machines, and of gear selection, is necessary in order to be able to fully exploit the potential of the hybrid architecture. To this end, two global optimizers, one of a deterministic nature and another of a stochastic type, and two real-time optimizers have been developed, applied and compared. A new mathematical technique has been developed and applied to the vehicle simulation model in order to decrease the computational time of the optimizers. First, the vehicle model equations were written in order to allow a coarse time grid to be used, then, the control variables (i.e., power flow and gear number) were discretized, and the

  4. The Good Investment.

    Science.gov (United States)

    Prescott, John E; Fresne, Julie A; Youngclaus, James A

    2017-07-01

    The authors reflect on the article in this issue entitled "Borrow or Serve? An Economic Analysis of Options for Financing a Medical School Education" by Marcu and colleagues, which makes a compelling case that a medical school education is a good investment, no matter what financing option students use, from federal service programs to federal loans. The lead author of this Commentary shares lessons learned from his own medical school education, which was funded by an Armed Forces Health Professions Scholarship, and from his current position interacting with medical students across the United States.Regardless of the financing path they choose, all students should understand basic financial concepts and the details of the various pathways that are available to pay for their medical school education, as well as how each could potentially impact their own future and that of their families. One underappreciated aspect of financing a medical school education is that federal repayment scenarios can link loan payments to income, rather than debt levels, which means that all physicians are able to afford their loan payments no matter what specialty they practice, what they are paid, or where they live.Medical education, while expensive, remains the good investment. An MD degree can lead to a lifetime of personal fulfillment and societal contributions. Everyone, with rare exceptions, accepted to a U.S. medical school will be able to finance their medical education via a path that aligns with their personal values and priorities.

  5. Offshore Investment Funds

    Directory of Open Access Journals (Sweden)

    Shang-Jin Wei

    1999-12-01

    Full Text Available Offshore investment funds are alleged to have engaged in trading behavior that is different from their onshore counterparts because they may be subject to less supervision and regulation. In particular, they may trade more intensely. They could also pursue more aggressively certain trading strategies such as positive feedback trading or herding that could contribute to a greater volatility in the market. Using a unique data set, this chapter compares the trading behavior in the Korean stock market between offshore investment funds with their onshore counterparts registered in the US and UK. There are a number of interesting findings. First, there is indeed evidence suggesting that the offshore funds trade more intensely than their onshore counterparts. Second, however, there is no evidence that the offshore funds engage in positive feedback trading. In contrast, there is strong evidence that the funds from the U.S. and U.K. do. Third, while offshore funds do herd, they do so far less than onshore funds in the U.S. or UK. Fourth, offshore funds hold less glamour stocks (e.g. stocks with high P/E in their portfolio than funds in the U.S. or U.K. do. Moreover, flight to glamour stocks during the in-crisis period is less evident in the case of offshore funds. In sum, offshore funds are no especially worrisome monsters.

  6. Commodities and Stock Investment

    Directory of Open Access Journals (Sweden)

    Syed Jawad Hussain Shahzad

    2014-09-01

    Full Text Available This study is a multivariate analysis of commodities and stock investment in a newly established market scenario. Return distribution asymmetry is examined with higher order movements. Skewness in commodity future’s return is largely insignificant, whereas kurtosis is highly significant for both stock and commodity future contracts. Correlation analysis is done with Pearson’s and Kendall’s tau measures. Commodities provide significant diversification benefits when added in a portfolio of stocks. Compared with stocks, commodity future’s returns show stronger correlation with unexpected inflation. The volatility is measured through Glosten-Jagannathan-Runkle - Generalized Autoregressive Conditional Heteroskedasticity (GJR-GARCH model and reflects that commodities have inverted asymmetric behavior, that is, more impact from the upward shocks compared with downward. Stocks have asymmetric volatility, that is, more impact from negative shocks compared with positive. Gold has highest inverted asymmetric volatility. Tail dependence, measured through Student’s t copula, shows no combined downside movement. In conclusion, commodity investments provide diversification and inflation protection.

  7. Optimization of some eco-energetic systems

    International Nuclear Information System (INIS)

    Purica, I.; Pavelescu, M.; Stoica, M.

    1976-01-01

    An optimization problem of two eco-energetic systems is described. The first one is close to the actual eco-energetic system in Romania, while the second is a new one, based on nuclear energy as primary source and hydrogen energy as secondary source. The optimization problem solved is to find the optimal structure of the systems so that the objective functions adopted, namely unitary energy cost C and total pollution P, to be minimum at the same time. The problem can be modelated with a bimatrix cooperative mathematical game without side payments. We demonstrate the superiority of the new eco-energetic system. (author)

  8. GREEN INVESTMENT: A STRATEGY FOR SUSTAINABLE ECONOMIC GROWTH AND INVESTMENT

    Directory of Open Access Journals (Sweden)

    Jaya Shukla

    2014-01-01

    Full Text Available Sustainable economic development has become an important area of concern due to climatic change with its long term effects. Climatic change has posed several challenges for economic sustainability of economies. Now major development projects have to comply with international environmental norms. Failure to do so may result in the delay of a project, fines including penalties for environmental damage or charges for remedial action, that affect the viability of a project or the value of any security taken. This paper investigates with help of secondary date using descriptive statistical technique opportunities and challenges of green investment. Here it is developed into suitable model for developing economies for successfully adopting green investment without much cost to their economies. The paper concludes that green investment involving direct investment and portfolio investment in firms adopting and following environmental protection norms will lead to sustainable growth and investment for economy.

  9. ENERGETIC FERMI/LAT GRB 100414A: ENERGETIC AND CORRELATIONS

    Energy Technology Data Exchange (ETDEWEB)

    Urata, Yuji; Tsai, Patrick P. [Institute of Astronomy, National Central University, Chung-Li 32054, Taiwan (China); Huang, Kuiyun [Academia Sinica Institute of Astronomy and Astrophysics, Taipei 106, Taiwan (China); Yamaoka, Kazutaka [Department of Physics and Mathematics, Aoyama Gakuin University, 5-10-1, Fuchinobe, Sayamihara 229-8558 (Japan); Tashiro, Makoto S., E-mail: urata@astro.ncu.edu.tw [Department of Physics, Saitama University, Shimo-Okubo, Saitama 338-8570 (Japan)

    2012-03-20

    This study presents multi-wavelength observational results for energetic GRB 100414A with GeV photons. The prompt spectral fitting using Suzaku/WAM data yielded spectral peak energies of E{sup src}{sub peak} of 1458.7{sup +132.6}{sub -106.6} keV and E{sub iso} of 34.5{sup +2.0}{sub -1.8} Multiplication-Sign 10{sup 52} erg with z = 1.368. The optical afterglow light curves between 3 and 7 days were effectively fitted according to a simple power law with a temporal index of {alpha} = -2.6 {+-} 0.1. The joint light curve with earlier Swift/UVOT observations yields a temporal break at 2.3 {+-} 0.2 days. This was the first Fermi/LAT detected event that demonstrated the clear temporal break in the optical afterglow. The jet opening angle derived from this temporal break was 5.{sup 0}8, consistent with those of other well-observed long gamma-ray bursts (GRBs). The multi-wavelength analyses in this study showed that GRB 100414A follows E{sup src}{sub peak}-E{sub iso} and E{sup src}{sub peak}-E{sub {gamma}} correlations. The late afterglow revealed a flatter evolution with significant excesses at 27.2 days. The most straightforward explanation for the excess is that GRB 100414A was accompanied by a contemporaneous supernova. The model light curve based on other GRB-SN events is marginally consistent with that of the observed light curve.

  10. Multilateral negotiations in foreign investment

    Directory of Open Access Journals (Sweden)

    David Orlando Ruiz Castro

    2016-04-01

    Full Text Available Direct foreign investment is one of the most important economic variables in the world. Aspects related to international investment agreements are reaching an outstanding place in economic international diplomacy. Nowadays, in the multilateral level there is not an agreement regarding investment and therefore this study is focused on this particular type of agreement. In order to reach this objective this study shows, first of all, how different attempts have been developed to get a multicultural a agreement regarding investment, and to refuse the general opinion that says that exponential growth of foreign investment flows in recent years has given impulse to launch a multilateral investment agreement. Secondly, this study discusses about regulations related to foreign investment under current WTO regulations, such as investment, measure agreements, and service agreement. Then, it analyzes what has happened inside the WTO from the creation of the investment team at the Singapore Conference to the failed Conference in Cancun. Finally, it analyzes the main arguments against the multilateral agreement and the effects of future possible multilateral negotiations in investment and it ends with some recommendations and conclusions.

  11. Ranking independent timber investments by alternative investment criteria

    Science.gov (United States)

    Thomas J. Mills; Gary E. Dixon

    1982-01-01

    A sample of 231 independent timber investments were ranked by internal rate of return, present net worth per acre and the benefit cost ratio—the last two discounted by 3, 6.4. 7.5. and 10 percent—to determine if the different criteria had a practical influence on timber investment ranking. The samples in this study were drawn from a group of timber investments...

  12. The application of scenarios techniques for evaluation of portfolio investments in E and P projects; A aplicacao das tecnicas de cenarios na avaliacao de carteira de investimentos em projetos de E e P

    Energy Technology Data Exchange (ETDEWEB)

    Torres, Arnaldo L.M.; Rocha, Fabio M.; Rodrigues, Joao R.L.; Farias Filho, Jose Rodrigues de; Campagnac, Luiz A.P. [Universidade Federal Fluminense (UFF), Niteroi, RJ (Brazil). Nucleo de Competitividade, Estrategia e Organizacoes (LABCEO)

    2008-07-01

    Managements in the organizations deal daily with decision making, today the market competitiveness requires rationality and efficiency. In the project portfolio management a lot of questions emerge to the management, such as: The projects chosen are really the best projects? They are suitable for the reality of the company? The evaluation criteria are appropriate? The methodology employed is adequate? The application of resources is optimized? There is a real commitment from all levels of the organizational structure? In this context, the objective of this work is to describe a model that try to be more applied to the reality, taking into consideration conceptual and motivational aspects related to the implementation of project management involving high investment with restrictions on resources, and still provide a tool to support decision . (author)

  13. Financial options methodology for analyzing investments in new technology

    Science.gov (United States)

    Wenning, B. D.

    1995-01-01

    The evaluation of investments in longer term research and development in emerging technologies, because of the nature of such subjects, must address inherent uncertainties. Most notably, future cash flow forecasts include substantial uncertainties. Conventional present value methodology, when applied to emerging technologies severely penalizes cash flow forecasts, and strategic investment opportunities are at risk of being neglected. Use of options evaluation methodology adapted from the financial arena has been introduced as having applicability in such technology evaluations. Indeed, characteristics of superconducting magnetic energy storage technology suggest that it is a candidate for the use of options methodology when investment decisions are being contemplated.

  14. If we come out with the wrong answer that may affect investments: Exploring how evaluators were influenced by political considerations during the assessment of societal impact

    Energy Technology Data Exchange (ETDEWEB)

    Samuel, G.S.; Derrick, G.E.

    2016-07-01

    This paper explores the extent to which external, political considerations relating to audit culture behaviour influence panel peer reviewers’ decision-making during the evaluation of societal impact. (Author)

  15. The condition and the dynamics of changes of regional energetic safety level

    OpenAIRE

    Anatoliy Myzin; Aleksey Kalina; Andrey Kozitsyn; Pavel Pykhov

    2006-01-01

    On the basis of indicative analysis method use, the dynamic processes of changes of energetic safety condition of federal districts and subjects of Russian Federation for last 5 years are investigated. The results of diagnosing safety levels for separate indicators, their blocks and the results of situation evaluation as a whole are discussed. The comparison of regions’ energetic safety condition is given, the causes of crisis situations appearance are discovered, and on this basis the sugg...

  16. Effect of type of binder on growth, digestibility, and energetic balance of Octopus maya

    OpenAIRE

    Rosas, C; Tut, J; Baeza, J; Sanchez, A; Sosa, V; Pascual, C; Arena, L; Domingues, P; Cuzon, Gerard

    2008-01-01

    The present study was designed to test the effects of type of binder on growth, nutritional physiology, total apparent digestibility, and some elements of the energetic balance of early O. maya juveniles. Two experiments were performed. One was aimed at evaluating the effect of type of binder on growth, nutritional physiology, and energetic balance and the other at knowing the effect of the binder on total apparent digestibility of O. maya. Binder type affected growth and survival of early O....

  17. 13 CFR 301.4 - Investment rates.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Investment rates. 301.4 Section... ELIGIBILITY, INVESTMENT RATE AND PROPOSAL AND APPLICATION REQUIREMENTS Investment Rates and Matching Share Requirements § 301.4 Investment rates. (a) Minimum Investment Rate. There is no minimum Investment Rate for a...

  18. Collective Thomson scattering in tokamaks having energetic ions

    International Nuclear Information System (INIS)

    Myer, R.C.; Woskov, P.P.; Machuzak, J.S.; Sigmar, D.J.; Cohn, D.R.; Bretz, N.L.; Efthimion, P.C.; Colestock, P.L.

    1989-01-01

    The authors discuss how collective Thomson scattering (CTS), using high power gyrotrons or long wavelength lasers,m shows promise as a powerful non-intrusive diagnostic of fast-ion transport as it may be capable of measuring the fast-ion velocity distribution and density profile with good spatial and temporal resolution. In addition, CTS may be used as a diagnostic for detecting localized power deposition in the background plasma. High power CTS systems are presently being planned for TFTR, JET, and CIT. Recent theoretical analysis suggests that an energetic (200-800 keV) He 3 minority can be produced in TFTR by ion cyclotron heating (ICH). Such an energetic population would be useful for simulating the energetic alpha-particles produced in a burning plasma. Since the ICH generated distribution is non-Maxwellian, the authors generalize the theoretical analysis of CTS to allow for particle distributions which can be represented by various orthogonal polynomial expansions. They evaluate the efficacy of CTS in detecting a fast He 3 component and determine the sensitivity of the diagnostic to the details of the ion distribution. In particular, the effectiveness of a planned 56 GHz gyrotron CTS diagnostic for TFTR is evaluated

  19. Hydro energetic inventory study from Chapecozinho river

    International Nuclear Information System (INIS)

    Pimenta, S.C.; Sureck, M.A.A.; Nascimento, P.R.; Kawasaki, M.; Silva Felipe, R. da.

    1990-01-01

    The Hydro energetic Inventory Study in Chapecozinho River Basin, Brazil is described, comparing the proposed results in 1979 with the actual review in 1989. An analysis for solution the socio-economic and environment problems is also presented. (author)

  20. Energetic particle observations at the subsolar magnetopause

    Directory of Open Access Journals (Sweden)

    A. A. Eccles

    Full Text Available The pitch-angle distributions (PAD of energetic particles are examined as the ISEE-1 satellite crosses the Earth’s magnetopause near the subsolar point. The investigation focuses on the possible existence of a particular type of distribution that would be associated with a source of energetic particles in the high-latitude magnetosphere. PADs, demonstrating broad, persistent field-aligned fluxes filling a single hemisphere (upper/northern or lower/southern, were observed just sunward of the magnetopause current layer for an extended period of many minutes. These distributions are a direct prediction of a possible source of energetic particles located in the high altitude dayside cusp and we present five examples in detail of the three-dimensional particle distributions to demonstrate their existence. From these results, other possible causes of such PADs are examined.

    Key words. Magnetospheric physics (energetic particles, precipitating; magnetopause, cusp and boundary layers; magnetospheric configuration and dynamics

  1. Global Positioning System (GPS) Energetic Particle Data

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Energetic particle data from the CXD and BDD instrument on the GPS constellation are available to the space weather research community. The release of these data...

  2. Modeling Thermal Ignition of Energetic Materials

    National Research Council Canada - National Science Library

    Gerri, Norman J; Berning, Ellen

    2004-01-01

    This report documents an attempt to computationally simulate the mechanics and thermal regimes created when a threat perforates an armor envelope and comes in contact with stowed energetic material...

  3. Organization of the national energetic institutions

    International Nuclear Information System (INIS)

    Waltenberg, D.A.M.

    1983-01-01

    This text broaches, in a critical pourt of view, the organization of national energetic institutions, the need of a law revision, the problem of the rising of tariff and shows the decisions of GC01 [pt

  4. Total and EDF invest

    International Nuclear Information System (INIS)

    Signoret, St.

    2008-01-01

    So as to prepare the future of their industrial sector,the Total company plans to invest (14 billion Euros in 2008) to increase its production capacities and strengthen in of other activities as the liquefied natural gas and the renewable energies; EDF plans to inject 35 billion Euros over three years to multiply the new projects of power plants (wind turbines, coal in Germany, gas in Great Britain and nuclear power in Flamanville). EDF wants to exploit its knowledge of leader to run more than ten E.P.R.(European pressurized water reactor) in the world before 2020, projects are in examination with China, Great Britain, South Africa and United States. (N.C.)

  5. Investments in power generation

    International Nuclear Information System (INIS)

    2000-01-01

    The power consumption in the common Nordic power market continues to grow. All potential production technologies entail more or less reduction in quality of the environment. This gives each of the Nordic countries incentives to limit the development of capacity and base themselves increasingly on import, which means that other countries take the political burden with the environmental issues (''free rider problem''). The uncertainty about the climate problem may make it rational to postpone investments which are expensive to reverse, like gas power. If the decisions are delayed too long, however, considerable socio-economic costs may accumulate because the price of electricity becomes too high. The present regulations of the environmental concerns in connection with the granting of concession are expensive and unpredictable and put society unnecessarily to expense

  6. Socially responsible investments

    CERN Multimedia

    Antonella Del Rosso

    2012-01-01

    In addition to well-established working principles based on conservative and capital preservation oriented investments that ensure it a sustainable future, the CERN Pension Fund recently introduced a new criterion for selecting the numerous opportunities that the market offers: philanthropy. Its first initiative, which also involves the Staff Association’s Long-Term Collection, will help support two orphanages in China.   The two charities are located near Beijing. Beijing’s “China Children Charity and Foundation” is an orphanage that cares for up to 80 babies who need surgery to correct birth defects. The other, “Hope Healing Home”, is an organization that deals with 300 babies and cares for sick and physically disabled babies who have been abandoned. All these babies are awaiting treatment and a medical solution. The CERN Pension Fund has over 6700 members. To ensure the greatest efficiency and profitability, the Fund’s por...

  7. Greater oil investment opportunities

    International Nuclear Information System (INIS)

    Arenas, Ismael Enrique

    1997-01-01

    Geologically speaking, Colombia is a very attractive country for the world oil community. According to this philosophy new and important steps are being taken to reinforce the oil sector: Expansion of the exploratory frontier by including a larger number of sedimentary areas, and the adoption of innovative contracting instruments. Colombia has to offer, Greater economic incentives for the exploration of new areas to expand the exploratory frontier, stimulation of exploration in areas with prospectivity for small fields. Companies may offer Ecopetrol a participation in production over and above royalties, without it's participating in the investments and costs of these fields, more favorable conditions for natural gas seeking projects, in comparison with those governing the terms for oil

  8. Keynes, investment, unemployment and expectations

    OpenAIRE

    Smith, Ron P.; Zoega, Gylfi

    2009-01-01

    In Keynes' General Theory, investment determines effective demand, which determines unemployment and the labour market plays a negligible role. In New Keynesian models, labour market institutions determine the natural rate of unemployment and the speed at which unemployment adjusts to it. Investment is mostly ignored as a key variable behind the problem of high unemployment, despite a strong empirical association between investment and unemployment. We discuss the evolution of the 'Keynesian'...

  9. Safer energetic materials by a nanotechnological approach

    Science.gov (United States)

    Siegert, Benny; Comet, Marc; Spitzer, Denis

    2011-09-01

    Energetic materials - explosives, thermites, populsive powders - are used in a variety of military and civilian applications. Their mechanical and electrostatic sensitivity is high in many cases, which can lead to accidents during handling and transport. These considerations limit the practical use of some energetic materials despite their good performance. For industrial applications, safety is one of the main criteria for selecting energetic materials. The sensitivity has been regarded as an intrinsic property of a substance for a long time. However, in recent years, several approaches to lower the sensitivity of a given substance, using nanotechnology and materials engineering, have been described. This feature article gives an overview over ways to prepare energetic (nano-)materials with a lower sensitivity.Energetic materials - explosives, thermites, populsive powders - are used in a variety of military and civilian applications. Their mechanical and electrostatic sensitivity is high in many cases, which can lead to accidents during handling and transport. These considerations limit the practical use of some energetic materials despite their good performance. For industrial applications, safety is one of the main criteria for selecting energetic materials. The sensitivity has been regarded as an intrinsic property of a substance for a long time. However, in recent years, several approaches to lower the sensitivity of a given substance, using nanotechnology and materials engineering, have been described. This feature article gives an overview over ways to prepare energetic (nano-)materials with a lower sensitivity. Electronic supplementary information (ESI) available: Experimental details for the preparation of the V2O5@CNF/Al nanothermite; X-ray diffractogram of the V2O5@CNF/Al combustion residue; installation instructions and source code for the nt-timeline program. See DOI: 10.1039/c1nr10292c

  10. Nuclear energetics all over the world

    International Nuclear Information System (INIS)

    Wojcik, T.

    2000-01-01

    The actual state and tendencies of nuclear power further development for different world regions have been presented and discussed. The problem of safety of energetic nuclear reactors, radioactive waste management and related problems have been discussed in respect of regulations in different countries. The economical aspects of nuclear energetics in comparison with different fossil fuel power plants exploitation costs has been presented as well. The official state of international organizations (IAEA, WANO, HASA etc.) have been also shown in respect to subject presented

  11. Investment issues in nuclear plant license renewal

    International Nuclear Information System (INIS)

    Eynon, R.T.

    1999-01-01

    A method that determines the operating lives for existing nuclear power plants is discussed. These assumptions are the basis for projections of electricity supply through 2020 reported in the Energy Information Administration's (EIA's) Annual Energy Outlook 1999. To determine if plants will seek license renewal, one must first determine if they will be operating to the end of their current licenses. This determination is based on an economic test that assumes an investment of $150/kW will be required after 30 yr of operation for plants with older designs. This expenditure is intended to be equivalent to the cost that would be associated with any of several needs such as a one0time investment to replace aging equipment (steam generators), a series of investments to fix age-related degradation, increases in operating costs, or costs associated with decreased performance. This investment is compared with the cost of building and operating the lowest-cost new plant over the same 10-yr period. If a plant fails this test, it is assumed to be retired after 30 yr of service. All other plants are then considered candidates for license renewal. The method used to determine if it is economic to apply for license renewal and operate plants for an additional 20 yr is to assume that plants face an investment of $250 million after 40 yr of operation to refurbish aging components. This investment is compared with the lowest-cost new plant alternative evaluated over the same 20 yr that the nuclear plant would operate. If the nuclear plant is the lowest cost option, it is projected to continue to operate. EIA projects that it would be economic to extend the operating licenses for 3.7 GW of capacity (6 units)

  12. Three Target Sectors for a European Investment Strategy

    International Nuclear Information System (INIS)

    Janin, Lionel; Douillard, Pierre

    2014-11-01

    While the president of the European Commission is getting ready to present the 'Juncker package' announced in July 2014, to revive activity in Europe through investment, what are the sectors in which these investments may be concentrated? The overall analysis of investment gaps in the euro zone has confirmed the requirement for a European macro-economic revival effort that involves investment, public or private, undertaken very quickly, even though this diagnosis varies depending on the country. The drivers of a European investment strategy are fiscal, regulatory and financial and are based on the selection of projects for the future. This third 'Note d'analyse' addresses the topic of investment potential in three key sectors: transport, energy and the digital sector, for which the amount of additional investment could reach euro 120 billion per year and thus, over three years, be higher than the forecasts in the Juncker plan. This maximalist amount mainly corresponds to the implementation of an ambitious energy-climate policy. Given current budgetary constraints, carefully selecting the desired investments, for which their social utility must be validated, is imperative: socioeconomic evaluation is the appropriate approach, particularly for taking into account the environmental externalities that now justify significant investments in the ecological transition. (authors)

  13. The energetic characterization of pineapple crown leaves.

    Science.gov (United States)

    Braga, R M; Queiroga, T S; Calixto, G Q; Almeida, H N; Melo, D M A; Melo, M A F; Freitas, J C O; Curbelo, F D S

    2015-12-01

    Energetic characterization of biomass allows for assessing its energy potential for application in different conversion processes into energy. The objective of this study is to physicochemically characterize pineapple crown leaves (PC) for their application in energy conversion processes. PC was characterized according to ASTM E871-82, E1755-01, and E873-82 for determination of moisture, ash, and volatile matter, respectively; the fixed carbon was calculated by difference. Higher heating value was determined by ASTM E711-87 and ash chemical composition was determined by XRF. The thermogravimetric and FTIR analyses were performed to evaluate the thermal decomposition and identify the main functional groups of biomass. PC has potential for application in thermochemical processes, showing high volatile matter (89.5%), bulk density (420.8 kg/m(3)), and higher heating value (18.9 MJ/kg). The results show its energy potential justifying application of this agricultural waste into energy conversion processes, implementing sustainability in the production, and reducing the environmental liabilities caused by its disposal.

  14. Green investment: Trends and determinants

    International Nuclear Information System (INIS)

    Eyraud, Luc; Clements, Benedict; Wane, Abdoul

    2013-01-01

    This paper fills a gap in the macroeconomic literature on renewable sources of energy. It offers a definition of green investment and analyzes the trends and determinants of this investment over the last decade for 35 advanced and emerging countries. We use a new multi-country historical dataset and find that green investment has become a key driver of the energy sector and that its rapid growth is now mostly driven by China. Our econometric results suggest that green investment is boosted by economic growth, a sound financial system conducive to low interest rates, and high fuel prices. We also find that some policy interventions, such as the introduction of carbon pricing schemes or “feed-in-tariffs,” which require use of “green” energy, have a positive and significant impact on green investment. Other interventions, such as biofuel support, do not appear to be associated with higher green investment. - Highlights: • We offer a definition of green investment and review its trend since 2000. • We analyze its determinants from both theoretical and empirical perspectives. • Green investment is boosted by economic growth, interest rates, and fuel prices. • Feed-in-tariffs and carbon pricing schemes impact positively green investment

  15. Structure of Energetic Particle Mediated Shocks Revisited

    International Nuclear Information System (INIS)

    Mostafavi, P.; Zank, G. P.; Webb, G. M.

    2017-01-01

    The structure of collisionless shock waves is often modified by the presence of energetic particles that are not equilibrated with the thermal plasma (such as pickup ions [PUIs] and solar energetic particles [SEPs]). This is relevant to the inner and outer heliosphere and the Very Local Interstellar Medium (VLISM), where observations of shock waves (e.g., in the inner heliosphere) show that both the magnetic field and thermal gas pressure are less than the energetic particle component pressures. Voyager 2 observations revealed that the heliospheric termination shock (HTS) is very broad and mediated by energetic particles. PUIs and SEPs contribute both a collisionless heat flux and a higher-order viscosity. We show that the incorporation of both effects can completely determine the structure of collisionless shocks mediated by energetic ions. Since the reduced form of the PUI-mediated plasma model is structurally identical to the classical cosmic ray two-fluid model, we note that the presence of viscosity, at least formally, eliminates the need for a gas sub-shock in the classical two-fluid model, including in that regime where three are possible. By considering parameters upstream of the HTS, we show that the thermal gas remains relatively cold and the shock is mediated by PUIs. We determine the structure of the weak interstellar shock observed by Voyager 1 . We consider the inclusion of the thermal heat flux and viscosity to address the most general form of an energetic particle-thermal plasma two-fluid model.

  16. Structure of Energetic Particle Mediated Shocks Revisited

    Energy Technology Data Exchange (ETDEWEB)

    Mostafavi, P.; Zank, G. P. [Department of Space Science, University of Alabama in Huntsville, Huntsville, AL 35899 (United States); Webb, G. M. [Center for Space Plasma and Aeronomic Research (CSPAR), University of Alabama in Huntsville, Huntsville, AL 35899 (United States)

    2017-05-20

    The structure of collisionless shock waves is often modified by the presence of energetic particles that are not equilibrated with the thermal plasma (such as pickup ions [PUIs] and solar energetic particles [SEPs]). This is relevant to the inner and outer heliosphere and the Very Local Interstellar Medium (VLISM), where observations of shock waves (e.g., in the inner heliosphere) show that both the magnetic field and thermal gas pressure are less than the energetic particle component pressures. Voyager 2 observations revealed that the heliospheric termination shock (HTS) is very broad and mediated by energetic particles. PUIs and SEPs contribute both a collisionless heat flux and a higher-order viscosity. We show that the incorporation of both effects can completely determine the structure of collisionless shocks mediated by energetic ions. Since the reduced form of the PUI-mediated plasma model is structurally identical to the classical cosmic ray two-fluid model, we note that the presence of viscosity, at least formally, eliminates the need for a gas sub-shock in the classical two-fluid model, including in that regime where three are possible. By considering parameters upstream of the HTS, we show that the thermal gas remains relatively cold and the shock is mediated by PUIs. We determine the structure of the weak interstellar shock observed by Voyager 1 . We consider the inclusion of the thermal heat flux and viscosity to address the most general form of an energetic particle-thermal plasma two-fluid model.

  17. Evaluating and Measuring the Return on Investment of an Emergency Center Health Care Professional Picture Archiving and Communication Systems Training Program

    Science.gov (United States)

    Roelandt, James P.

    2012-01-01

    Picture archiving and communication system (PACS) workflow directly affects the quality of emergency patient care through radiology exam turn-around times and the speed of delivery of diagnostic radiology results. This study was a mixed methods training and performance improvement study that evaluated the effectiveness and value of a hospital…

  18. Guidelines for integrating socially responsible investment in the investment process

    NARCIS (Netherlands)

    de Graaf, F.J.; Slager, A.

    2009-01-01

    Socially Responsible Investment (SRI) is of growing importance for institutional investors. Our analysis shows that SRI strategies can be grouped in ethically-based, investment-driven and value-ensuring objectives. We demonstrate that this categorization strengthens decisionmaking in SRI. Based on

  19. Energetic Constraints on Fungal Growth.

    Science.gov (United States)

    Heaton, Luke L M; Jones, Nick S; Fricker, Mark D

    2016-02-01

    Saprotrophic fungi are obliged to spend energy on growth, reproduction, and substrate digestion. To understand the trade-offs involved, we developed a model that, for any given growth rate, identifies the strategy that maximizes the fraction of energy that could possibly be spent on reproduction. Our model's predictions of growth rates and bioconversion efficiencies are consistent with empirical findings, and it predicts the optimal investment in reproduction, resource acquisition, and biomass recycling for a given environment and timescale of reproduction. Thus, if the timescale of reproduction is long compared to the time required for the fungus to double in size, the model suggests that the total energy available for reproduction is maximal when a very small fraction of the energy budget is spent on reproduction. The model also suggests that fungi growing on substrates with a high concentration of low-molecular-weight compounds will not benefit from recycling: they should be able to grow more rapidly and allocate more energy to reproduction without recycling. In contrast, recycling offers considerable benefits to fungi growing on recalcitrant substrates, where the individual hyphae are not crowded and the time taken to consume resource is significantly longer than the fungus doubling time.

  20. Supply Inventory Management: Defense Logistics Agency Aviation Investment Strategy Program

    National Research Council Canada - National Science Library

    2002-01-01

    The audit objective was to evaluate the effectiveness of the DLA investment strategy to improve supply support to aviation weapon systems by increasing the stockage levels of consumable repair parts...

  1. Energetic costs of performance in trained and untrained Anolis carolinensis lizards.

    Science.gov (United States)

    Lailvaux, Simon P; Wang, Andrew Z; Husak, Jerry F

    2018-03-12

    The energetic costs of performance constitute a non-trivial component of animals' daily energetic budgets. However, we currently lack an understanding of how those costs are partitioned among the various stages of performance development, maintenance, and production. We manipulated individual investment in performance by training Anolis carolinensis lizards for endurance or sprinting ability. We then measured energetic expenditure both at rest and immediately following exercise to test whether such training alters the maintenance and production costs of performance. Trained lizards had lower resting metabolic rates than controls, suggestive of a maintenance saving associated with enhanced performance as opposed to a cost. Production costs also differed, with sprint-trained lizards incurring the largest energetic performance cost and experiencing the longest recovery times compared to endurance trained and control animals. Although performance training modifies metabolism, production costs are probably the key drivers of trade-offs between performance and other life-history traits in this species. © 2018. Published by The Company of Biologists Ltd.

  2. Design of investment management optimization system for power grid companies under new electricity reform

    Science.gov (United States)

    Yang, Chunhui; Su, Zhixiong; Wang, Xin; Liu, Yang; Qi, Yongwei

    2017-03-01

    The new normalization of the economic situation and the implementation of a new round of electric power system reform put forward higher requirements to the daily operation of power grid companies. As an important day-to-day operation of power grid companies, investment management is directly related to the promotion of the company's operating efficiency and management level. In this context, the establishment of power grid company investment management optimization system will help to improve the level of investment management and control the company, which is of great significance for power gird companies to adapt to market environment changing as soon as possible and meet the policy environment requirements. Therefore, the purpose of this paper is to construct the investment management optimization system of power grid companies, which includes investment management system, investment process control system, investment structure optimization system, and investment project evaluation system and investment management information platform support system.

  3. Financial options methodology for analyzing investments in new technology

    Energy Technology Data Exchange (ETDEWEB)

    Wenning, B.D. [Texas Utilities Services, Inc., Dallas, TX (United States)

    1994-12-31

    The evaluation of investments in longer term research and development in emerging technologies, because of the nature of such subjects, must address inherent uncertainties. Most notably, future cash flow forecasts include substantial uncertainties. Conventional present value methodology, when applied to emerging technologies severely penalizes cash flow forecasts, and strategic investment opportunities are at risk of being neglected. Use of options valuation methodology adapted from the financial arena has been introduced as having applicability in such technology evaluations. Indeed, characteristics of superconducting magnetic energy storage technology suggest that it is a candidate for the use of options methodology when investment decisions are being contemplated.

  4. Financial options methodology for analyzing investments in new technology

    International Nuclear Information System (INIS)

    Wenning, B.D.

    1994-01-01

    The evaluation of investments in longer term research and development in emerging technologies, because of the nature of such subjects, must address inherent uncertainties. Most notably, future cash flow forecasts include substantial uncertainties. Conventional present value methodology, when applied to emerging technologies severely penalizes cash flow forecasts, and strategic investment opportunities are at risk of being neglected. Use of options valuation methodology adapted from the financial arena has been introduced as having applicability in such technology evaluations. Indeed, characteristics of superconducting magnetic energy storage technology suggest that it is a candidate for the use of options methodology when investment decisions are being contemplated

  5. INVESTMENT FUNDS INDUSTRY IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Adela Ionescu

    2013-11-01

    Full Text Available Capital market offers those who study it and those who use it as traders or as investors, a feature similar to a paradox. Her specific routine operations are regulated to the level of detail bylaws, instructions, procedures or measures layouts while decisions on investments in securities and portfolio restructuring are taken under perpetual uncertainty. This has a twofold explanation, an objective one and a subjective one.Future prices, as well as successive conditions of stock exchange not necessarily flow from the past, thus one cannot predict their level and over them is hanging the conviction that any selected alternative action is probably the best without having any certainty that that is really correct and rational in an absolute mode.Even if the evaluation of factors influencing prices is a questionable one, there is the likelihood of good choices when doing a basic operation-selling or buying. Factors identified, evaluated and ranked may change in the next period their force of action or even the market structure so that exchange activity is at least difficult to determine.In this category is included the mutual fund industry, whose evolution in Romania was not without risk and has had a tortuous circuit thanks to immature capital markets and market actors but especially due to the permissive legislation during the start phase. A certain progress was recorded in the last 10 years,although the financial crisis made its mark on the capital market and revealed the negative impact of systemic risks.

  6. Competitive Capacity Investment under Uncertainty

    NARCIS (Netherlands)

    X. Li (Xishu); R.A. Zuidwijk (Rob); M.B.M. de Koster (René); R. Dekker (Rommert)

    2016-01-01

    textabstractWe consider a long-term capacity investment problem in a competitive market under demand uncertainty. Two firms move sequentially in the competition and a firm’s capacity decision interacts with the other firm’s current and future capacity. Throughout the investment race, a firm can

  7. Foreign Investment Boosts Rural Economies.

    Science.gov (United States)

    Glasmeier, Amy; Glickman, Norman

    1990-01-01

    Through 1987, 10 percent of foreign investment was in nonmetro counties; 44 percent of this was in the South; and 38 percent of nonmetro foreign investment created new jobs (versus 17 percent in metro areas). Foreign investors chose nonmetro areas with low wages, lack of unionization history, good transportation access, and government incentives.…

  8. Private investments in new infrastructures

    NARCIS (Netherlands)

    Baarsma, B.; Poort, J.P.; Teulings, C.N.; de Nooij, M.

    2004-01-01

    The Lisbon Strategy demands large investments in transport projects, broadband networks and energy infrastructure. Despite the widely-acknowledged need for investments in new infrastructures, European and national public funds are scarce in the current economic climate. Moreover, both policy-makers

  9. Optimal Investment in Structured Bonds

    DEFF Research Database (Denmark)

    Jessen, Pernille; Jørgensen, Peter Løchte

    The paper examines the role of structured bonds in the optimal portfolio of a small retail investor. We consider the typical structured bond essentially repacking an exotic option and a zero coupon bond, i.e. an investment with portfolio insurance. The optimal portfolio is found when the investment...

  10. Investment opportunities with YPFB capitalization

    International Nuclear Information System (INIS)

    Escobar, F.

    1996-01-01

    Investment opportunities with Yacimientos Petroliferos Fiscales Bolivianos (LPFB) in La Paz, Bolivia, were discussed, especially as they may be affected by the new Hydrocarbon Law No. 1689, whose main objective is to encourage investments in Bolivia and to increase production capacity through investors' incorporation. Some of the areas of potential importance examined included reserve development, transportation, upstream consulting, and hydrocarbon development

  11. Overseas Investment, Encouraging Long Journey

    Institute of Scientific and Technical Information of China (English)

    Janet Tang

    2010-01-01

    @@ In the context of the financial crisis,international capital flows,cross-border investment,as well as the mergers and acquisitions generally continues shrinking at a large range in 2009,while China's foreign investment and overseas cooperation still maintains a good momentum of development.

  12. Energetic and exergetic analyses of T56 turboprop engine

    International Nuclear Information System (INIS)

    Balli, Ozgur; Hepbasli, Arif

    2013-01-01

    Highlights: • Performing comprehensive energy and exergy analyses of T56 turboprop engine at various operation modes. • Proposing two new parameters, energetic and exergetic fuel-production ratios. • Calculating maximum energy efficiency values of 25.4% for Case A and 28.1% for Case B at Takeoff mode. • Accounting maximum exergy efficiency values of 23.8% for Case A and 26.3% for Case B at Takeoff mode. - Abstract: This study presents the results of energetic and exergetic analyses of T56 turboprop engine at various power loading operation modes (75%, 100%, Military and Takeoff). The energetic and exergetic performance evaluations were made for both the shaft power (Case A) and the shaft power plus the kinetic energy of exhaust gaseous (Case B). The energetic efficiency was calculated to be maximum at 25.4% for Case A and 28.1% for Case B while the exergy efficiency was obtained to be maximum at 23.8% for Case A and 26.3% for Case B at Takeoff mode, respectively. The maximum exergy destruction rate occurred within the combustion chamber. It increased from 4846.3 kW to 6234.1 kW depending on operation modes. The exergetic performance parameters, such as the relative exergy consumption, the fuel depletion ratio, the productivity lack ratio, the improvement potential and the fuel-production ratio, were also investigated. The fuel energy-production ratio decreased from 4.6 to 3.9 while the fuel exergy-production ratio decreased from 4.9 to 4.2 by increasing the produced shaft power and residual thrust. The results provided here can be helpful to regulate and select operation modes for these engine users

  13. Sustainable Venture Capital Investments: An Enabler Investigation

    Directory of Open Access Journals (Sweden)

    Elena Antarciuc

    2018-04-01

    Full Text Available Investing in sustainable projects can help tackle the current sustainability challenges. Venture capital investments can contribute significantly to the growth of sustainable start-ups. Sustainable venture capital (SVC research is just emerging. This paper identifies enablers for sustainable venture capital investments in Saudi Arabia taking into account different stakeholders and firm’s tangible and intangible resources. Using perspectives from venture capital experts in Saudi Arabia and the grey-based Decision-Making Trial and Evaluation Laboratory (DEMATEL method, this study pinpoints the most critical enablers and investigates their causal and effect interconnections. The methodological process consists of reviewing the SVC literature and consulting the experts to identify the SVC enablers, creating a questionnaire, acquiring the answers from four experts, analyzing the data with grey-based DEMATEL and performing a sensitivity analysis. The government use of international standards, policies and regulations for sustainable investments, the commitment of the venture capitalists to sustainability and their deep understanding of sustainable business models are the most influential enablers. The paper concludes with implications for different actors, limitations and prospective directions for the sustainable venture capital research.

  14. Alternative approaches to transmission investment

    Energy Technology Data Exchange (ETDEWEB)

    Welch, J.L. [International Transmission Co., Detroit, MI (United States)

    2004-07-01

    The International Transmission Company (ITC) is an independent power transmission company that owns, operates and maintains the high voltage transmission system in southeastern Michigan. The company's current focus is on investing in the transmission infrastructure to improve reliability, relieve congestion, improve access to generation and reduce energy costs for consumers. There is a need for investment in power transmission. Trends indicate that power transactions are on the rise while transmission investment is lagging because pricing protocols are inadequate and there is no regional tariff mechanism to allocate the benefits of new investment. The presentation reviewed the applicability of FTRs to transmission owners and the pitfalls of participant funding pricing. It also outlined the regional benefit allocation mechanism (RBAM) with an illustrative example. It was concluded that existing pricing policies must be improved to address the growing need for transmission investment. RBAM is needed to help investors recover costs from project beneficiaries. figs.

  15. PV investment in Europe

    Energy Technology Data Exchange (ETDEWEB)

    Hueser, Pius [Nova Energy GmbH, (Switzerland)

    2007-06-15

    This presentation is mainly about how the PV market in Europe has been growing, and which elements are going to determine if this market succeed or failed not only in Europe but also in the rest of the world. In the first part of this presentation, it is mentioned how in 2005 the development of some PV technologies triggered the PV market growth without any marketing control. Then, there are explained the aspects that changed such situation out of control, therefore, it emerged the beginning of the consolidation of this market. There are briefly explained those factors that are going to determine if this market succeed or failed in the future. Finally, there are given examples of some the PV investments. [Spanish] Esta presentacion habla principalmente de la manera en como ha crecido el Mercado de sistemas fotovoltaicos en Europa, asi tambien se mencionan los elementos fundamentales que determinaran el exito o fracaso de este mercado, no solamente en Europa sino tambien en el resto del mundo, en un futuro. En la primera parte de esta presentacion, se describe como en el 2005, debido al desarrollo de algunas tecnologias fotovoltaicas se desencadeno el crecimiento desenfrenado del mercado fotovoltaico. Despues, se explican los aspectos que hicieron que dicho crecimiento tomara su curso, teniendo como resultado el inicio de un mercado mas consolidado. Se explican brevemente los factores que determinaran si este mercado encuentra el exito o el fracaso en un futuro. Finalmente, se dan ejemplos de algunas adquisiciones fotovoltaicas.

  16. The year of energetic performance

    International Nuclear Information System (INIS)

    Moragues, Manuel; Barla, Jean-Christophe; Cognasse, Olivier; Gateaud, Pascal

    2015-01-01

    While quoting some actors, a first article discusses the consequences of the obligation for industrials to audit their energy consumption in 2015, and of the various incentives to reduce it on the development of an energy efficiency sector. One of these consequences will be a combination of performance and flexibility. It also indicates an assessment of the potential of energy saving in the French industry per sector. A second article comments the development of this sector, the emergence of actors from different origins who propose their services in energy efficiency to industries which are great consumers of energy. It notices that this market does not actually lift off. The third article addresses the industrials' point of view and the various ways to reduce the energy bill (a better engine sizing, a better heat management, investment in new machines). It also indicates the mandatory use of high efficiency engines. The next article presents and comments the implementation of lean methods by the Okavango Energy consultancy company to optimize energy consumption and improve energy efficiency. The next articles outline the benefit of consumption modulation or how to valorise consumption reductions through load management (in French: effacement), and comment the struggle between energy producers and start-ups which promote the use of load management to balance the grid. The examples of actions of industrials of the district of Alpes Maritimes in the field of energy efficiency, and of the activities of Schneider in energy efficiency (international strategy, involved activities and jobs) are described. The next article addresses the case of the building industry where renovation is now being industrialized. In an interview, the chairman of Saint-Gobain explains his strategy to become a leader in energy efficiency and support sustainable construction in emerging countries

  17. Chinese investments in the EU

    Directory of Open Access Journals (Sweden)

    Haico EBBERS

    2010-12-01

    Full Text Available China’s investments in the European Union are much lower than what you may expect given the economic size of both entities. These relatively low investments in Europe are a combination of priority and obstacles. The priority for investments is clearly in Asia, Africa and Latin America. This regional pattern is heavily influenced by the need to solve the resource shortage in the medium and long term. The investments in Europe and the United States are mostly market seeking investments. Research specifically focused on Chinese M&A abroad comes to the same conclusion. The success rate of Chinese M&A abroad is much lower than what we see with respect to American or European investments abroad. In this paper, we examine why Chinese firms are facing more difficulties in the European Union than in other regions. The paper focuses on Chinese M&A as proxy for total foreign direct investments abroad. By looking at the factors that have been documented as influencing the level of M&A abroad, it becomes clear that Chinese firms in Europe are hindered by many factors. For example, the trade between China and the EU is relatively low, the institutional quality is lower compared to the United States, there is less experience with respect to Europe and relatively many deals relate to State Owned Enterprises (SOE which makes the deal sensitive. So it is logical that Chinese investments are not very high in Europe. However, the research makes clear that the obstacles for Chinese investments in Europe are disappearing step by step. In that sense, we expect a strong increase of Chinese investments in Europe in the future.

  18. CONTRIBUTION OF FOREIGN DIRECT INVESTMENT FOR THE REGION DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    KATARÍNA ČULKOVÁ

    2013-02-01

    Full Text Available Foreign direct investments contribute to the important solving of the economical growth and regionaldevelopment and it presents part of the state’s effort to increase living level of the state. Slovakia government ismotivated to support any foreign investment and it competes for such investments with other transforming countries.Goal of the contribution is to provide idea about main factors that influence inflow of the foreign investments to theindividual regions of Slovakia and to evaluate their contribution through characteristics and main determinants of theforeign investments. Only through careful choice can Slovakia obtain successfully investors that would come to thecountry with production, research and development since in modern economy we cannot be competitive without suchactivities, neither in regional, nor in the international level.

  19. Comparison of investment opportunities in mutual funds

    OpenAIRE

    NOVÁKOVÁ, Petra

    2012-01-01

    This thesis deals with the comparison of selected mutual funds in the Czech Republic. The main aim of this thesis is to evaluate the situation on the securities market of mutual funds and help to the investor with right choice of mutual fund. Work is initially devoted to the characteristics and history of collective investment. The following section describes mutual funds their characteristics, classification, creation and termination. Conclusion of the theoretical part is devoted to investme...

  20. Analysis of Circular Development and Investment Possibilities (Transport, Energy and Building Related to International Sports Event Planning

    Directory of Open Access Journals (Sweden)

    Horváth Bálint

    2017-09-01

    Full Text Available This study investigates the possibilities of various development areas (transport, energy, building to make the cost-efficient realisation of high-profile investments, and organising and holding international sports events possible. Using a case study, the paper introduces development routes based on the evaluation of environmental and economic perspectives. The current research introduces the investment characteristics based on the development of the Hungarian building, energy and transport sectors for the 2017-2030 period. The main criterion is the integration of ‘circular economy’. For sectors which operate with high material and energy consumption, the consideration of circular economy principles may prove to be important for sustainable development. Through planning highvolume sports and worldwide events, the usual development strategy for traffic systems focuses on public transport and rentable vehicles (f. e. electric scooter, or bicycle which can decrease CO2 emissions via modern technological solutions. Regarding the buildings, sports arenas and related facilities, besides the existing low-carbon solutions, the functions of buildings must be expanded and their usage prolonged. The management of waste left after the life cycle is expended has to be pre-planned. These are the options for making the sector’s GHG emissions decrease apart from circular tenders, which can be further combined with SMART energetic solutions.

  1. Evaluation Of Investments In Science, Technology And Innovation: Applying Scientific and Technical Human Capital Framework For Assessment of Doctoral Students In Cooperative Research Centers

    Science.gov (United States)

    Leonchuk, Olena

    This dissertation builds on an alternative framework for evaluation of science, technology and innovation (STI) outcomes - the scientific & technical (S&T) human capital which was developed by Bozeman, Dietz and Gaughan (2001). At its core, this framework looks beyond simple economic and publication metrics and instead focuses on scientists' social capital. The premise of the framework is that science does not happen in vacuum and that resources embedded in scientists' social networks are important and enduring outcomes of the scientific process that were not being captured by traditional metrics. This dissertation examines social capital of science and engineering (S&E) graduate students, an underrepresented group of stakeholders in STI evaluations. S&E graduate students are unique for several reasons. In comparison with students in other disciplines, S&E graduate students have a greater proportion of international students; are widely employed by industry in numbers exceeded only by business graduates. And, most importantly, S&E graduates pursue education in fields that contribute the most to the US innovation capacity. This dissertation introduces a multidimensional measure of social capital based on the network theory of social capital proposed by Nan Lin (1999). According to Lin, social capital consists of three components: availability of resources and social embeddedness in one's network and mobilization of these resources. In order to address these elements, the dissertation employs two studies that focus on different components of social capital. Study 1 looks at accessibility of resources in students' social networks and whether students would be likely to mobilize them by using a proxy measure of norms and values about collaborations. The study also addresses the effect of social capital on students' experiences and outcomes, specifically, on their satisfaction and perceived career preparedness. The researcher investigates the mechanisms that explain

  2. The influence of anthropometric, kinematic and energetic variables and gender on swimming performance in youth athletes

    OpenAIRE

    Morais, J.E.; Garrido, N.; Marques, M.C.; Silva, A.J.; Marinho, D.A.; Barbosa, Tiago M.

    2013-01-01

    The aim of this study was to assess the: (i) gender; (ii) performance and; (iii) gender versus performance interactions in young swimmers’ anthropometric, kinematic and energetic variables. One hundred and thirty six young swimmers (62 boys: 12.76 ± 0.72 years old at Tanner stages 1–2 by self-evaluation; and 64 girls: 11.89 ± 0.93 years old at Tanner stages 1–2 by self-evaluation) were evaluated. Performance, anthropometrics, kinematics and energetic variables were selected. There was a non-s...

  3. Considering barriers to investment in South Africa

    Directory of Open Access Journals (Sweden)

    KB Afful

    2014-10-01

    Full Text Available This paper examines the effect of South Africa’s economic fundamentals on net direct investment and net portfolio investment. The results suggest that the main determinants of investment in South Africa are resource prices, input productivity and the economic performance of the domestic economy. The results illustrate that net direct investment and net portfolio investment are close but not perfect substitutes. In addition, we find that an increase in labour input costs reduces both net direct investment and net portfolio investment. Further, an increase in fixed capital productivity increases net direct investment. Further, also the results illustrate that subsidies increase both net direct investment and net portfolio investment. Moreover, an increase in exports increases both net direct investment and net portfolio investment. Policy recommendations are thus proposed that may increase foreign direct investment in South Africa.

  4. 12 CFR 24.4 - Investment limits.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Investment limits. 24.4 Section 24.4 Banks and... ENTITIES, COMMUNITY DEVELOPMENT PROJECTS, AND OTHER PUBLIC WELFARE INVESTMENTS § 24.4 Investment limits. (a) Limits on aggregate outstanding investments. A national bank's aggregate outstanding investments under...

  5. 47 CFR 69.309 - Other investment.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Other investment. 69.309 Section 69.309... Apportionment of Net Investment § 69.309 Other investment. Investment that is not apportioned pursuant to §§ 69... category and access elements in the same proportions as the combined investment that is apportioned...

  6. 12 CFR 615.5140 - Eligible investments.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Eligible investments. 615.5140 Section 615.5140... POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Investment Management § 615.5140 Eligible investments. (a) You may hold only the following types of investments listed in the Investment Eligibility Criteria...

  7. HOW DEPRESSION AND SOCIAL MEDIA PREFERENCES AFFECT FINANCIAL INVESTMENT&GAMBLING RISK TAKING BEHAVIOURS

    OpenAIRE

    YALVAC HAMURCU, H. Dilek; HAMURCU, Çağrı

    2017-01-01

    This study mainly examines the relationship between financial investment and gambling risk-taking tendencies and depression. In addition, how financial investment and gambling risk taking attitudes and depression level change with respect to age, gender and social media preferences are also analyzed in this study. DOSPERT Scale with subscales of financial investment and gambling and Beck Depression Inventory (BDI) are used for evaluating financial investment&gambling risk-taking tende...

  8. Investing in justice: ethics, evidence, and the eradication investment cases for lymphatic filariasis and onchocerciasis.

    Science.gov (United States)

    Bailey, Theodore C; Merritt, Maria W; Tediosi, Fabrizio

    2015-04-01

    It has been suggested that initiatives to eradicate specific communicable diseases need to be informed by eradication investment cases to assess the feasibility, costs, and consequences of eradication compared with elimination or control. A methodological challenge of eradication investment cases is how to account for the ethical importance of the benefits, burdens, and distributions thereof that are salient in people's experiences of the diseases and related interventions but are not assessed in traditional approaches to health and economic evaluation. We have offered a method of ethical analysis grounded in theories of social justice. We have described the method and its philosophical rationale and illustrated its use in application to eradication investment cases for lymphatic filariasis and onchocerciasis, 2 neglected tropical diseases that are candidates for eradication.

  9. Energetic particle pressure in intense ESP events

    Science.gov (United States)

    Lario, D.; Decker, R. B.; Roelof, E. C.; Viñas, A.-F.

    2015-09-01

    We study three intense energetic storm particle (ESP) events in which the energetic particle pressure PEP exceeded both the pressure of the background thermal plasma Pth and the pressure of the magnetic field PB. The region upstream of the interplanetary shocks associated with these events was characterized by a depression of the magnetic field strength coincident with the increase of the energetic particle intensities and, when plasma measurements were available, a depleted solar wind density. The general feature of cosmic-ray mediated shocks such as the deceleration of the upstream background medium into which the shock propagates is generally observed. However, for those shocks where plasma parameters are available, pressure balance is not maintained either upstream of or across the shock, which may result from the fact that PEP is not included in the calculation of the shock parameters.

  10. Biogas - energetical and environmental point of view

    International Nuclear Information System (INIS)

    Skele, A.; Upitis, A.; Kristapsons, M.; Goizevskis, O.; Ziemelis, I.

    2003-01-01

    Energy sector has been one of the most important priorities since reestablishment of independence of Latvia. The deficiency of energy resources in Latvia has created a need to assess all the possibilities to utilise all possibilities to utilise all the energy resources, including the biological ones, to motivate the trends in the development of energetic in Latvia. A huge non-utilised reserve in Latvia is methane fermentation of organic agricultural and municipal residue and sewage from food industry. The organic mass of solid and liquid waste of different origin and its energetic potential for rural region have been investigated. The work deals with an integrated system of the utilisation of agricultural waste with the anaerobic (biogas) and the thermal processes. Presently the anaerobic waste utilisation, in combination with the production of biogas and organic fertiliser, is considered as one of the energetically most efficient and environment-friendly ways of organic fertiliser utilisation (authors)

  11. Bioethics training programmes for Africa: evaluating professional and bioethics-related achievements of African trainees after a decade of Fogarty NIH investment.

    Science.gov (United States)

    Kass, Nancy E; Ali, Joseph; Hallez, Kristina; Hyder, Adnan A

    2016-09-15

    Our primary aim was to evaluate the impact of US National Institutes of Health (NIH)-funded bioethics training programmes (Fogarty bioethics training programmes, FBTPs) that trained individuals from Africa over the programme's first 10 years to examine changes between pretraining and post-training in individual achievement and to document any associations between individual, training programme and post-training accomplishments. We surveyed trainees from the 10 bioethics programmes funded by NIH Fogarty International Center from 2000 to 2011 that included African trainees. McNemar's and Wilcoxon signed rank-sum tests were used to analyse pre-post levels of general and bioethics-related professional achievement. Likelihood of specific post-training achievement outcomes was measured using logistic regression including demographic, pretraining and intratraining variables. 10 different FBTPs that trained individuals from Africa from 2000 to 2011. Of 253 eligible respondents, 171 completed the survey (response rate 67.6%). Pre-post comparisons of professional achievement indicators (eg, serving in leadership roles, teaching, publishing manuscripts); likelihood of specific post-training achievement outcomes. Post-training, respondents were significantly more likely to report serving in a leadership role, being an investigator on a research grant, serving on international committees, serving as a mentor, and publishing manuscripts than at pretraining. Post-training, significantly greater numbers of respondents reported bioethics-related achievements including being a bioethics instructor, serving on an Institutional Review Board (IRB), being an investigator on a bioethics grant and publishing bioethics-related manuscripts than pretraining. Controlling for other factors, there were no significant differences by gender in the post-training success of these participants in terms of leadership roles, being instructors, investigators on grants and holding IRB roles. African

  12. Comparative support for the expensive tissue hypothesis: Big brains are correlated with smaller gut and greater parental investment in Lake Tanganyika cichlids.

    Science.gov (United States)

    Tsuboi, Masahito; Husby, Arild; Kotrschal, Alexander; Hayward, Alexander; Buechel, Séverine D; Zidar, Josefina; Løvlie, Hanne; Kolm, Niclas

    2015-01-01

    The brain is one of the most energetically expensive organs in the vertebrate body. Consequently, the energetic requirements of encephalization are suggested to impose considerable constraints on brain size evolution. Three main hypotheses concerning how energetic constraints might affect brain evolution predict covariation between brain investment and (1) investment into other costly tissues, (2) overall metabolic rate, and (3) reproductive investment. To date, these hypotheses have mainly been tested in homeothermic animals and the existing data are inconclusive. However, there are good reasons to believe that energetic limitations might play a role in large-scale patterns of brain size evolution also in ectothermic vertebrates. Here, we test these hypotheses in a group of ectothermic vertebrates, the Lake Tanganyika cichlid fishes. After controlling for the effect of shared ancestry and confounding ecological variables, we find a negative association between brain size and gut size. Furthermore, we find that the evolution of a larger brain is accompanied by increased reproductive investment into egg size and parental care. Our results indicate that the energetic costs of encephalization may be an important general factor involved in the evolution of brain size also in ectothermic vertebrates. © 2014 The Author(s). Evolution © 2014 The Society for the Study of Evolution.

  13. Power plants investment decision-making in consideration of investment risk

    International Nuclear Information System (INIS)

    Oda, Junichiro; Matsuhashi, Ryuji; Yoshida, Yoshikuni; Takashima, Ryuta

    2005-01-01

    In this paper, we consider the investment risk of nuclear power plants using the real options approach. It is essential that the Japanese society evaluate the investment risk, because nuclear power plants are facing definite uncertainty and Japanese governments intend to promote and assist nuclear power plants through subsidies and policy actions. We assumed that the wholesale market prices of electricity constitute the definite uncertainty and that the wholesale market prices follow the geometric Brownian motion with drift. Using the Bellman equation and a lattice framework, we evaluated the value of investment opportunity, the value of equipment, and the critical prices that are optimal prices to invest in a nuclear power plant in the finite time horizon. This analysis shows that higher volatility of the wholesale market prices would give power companies lower incentive to construct electric power plants, particularly capital-intensive power plants. In order to deliberate and hold the Japanese governments accountable for the economics of nuclear power plants, multifaceted evaluation is needed. (author)

  14. Debt Covenant Renegotiation and Investment

    DEFF Research Database (Denmark)

    Arnold, Marc; Westermann, Ramona

    This paper analyzes the impact of debt covenant renegotiation outside corporate distress on firms. We study a structural model of a levered firm that can renegotiate debt both at investment and in corporate distress. Covenant renegotiation at investment reduces the agency cost of debt because...... it induces a firm value maximizing investment financing policy and mitigates the overinvestment problem. Incorporating renegotiation outside corporate distress is crucial to explain empirical occurrence patterns of debt renegotiation, the impact of debt renegotiation on corporate securities, and the relation...

  15. Whose crazy investment in sex?

    Science.gov (United States)

    Mandlis, Lane R

    2011-01-01

    By probing the processes of exclusion of transsexuals from the political sphere, this article offers contributions to social and political theory through an examination of the processes of exclusion from the category "human." This article considers how the erasure of investment in their own embodied sex constructs a platform from which to blame others for sex/gender variance, as well as to justify that blaming. Bringing together Giorgio Agamben, Georges Bataille, Judith Butler, and Nikolas Rose with transphobia, medicalization in psychiatry, law, and ethopolitics, this article questions whose investment in sexed embodiment counts and why that investment might be seen as "crazy."

  16. Capital Investment Procedures for FEMYSO

    OpenAIRE

    Oluduro, Francis Oladele; Duru, Longinus; Al Jaafar, Mofid

    2008-01-01

    Date: 2008-06-05 Level: Bachelor Thesis in Business Administration EF0703, 15 ECTS Credits. Authors: Longinus Duru (Stockholm), Francis O.Oluduro (Västerås) and Mofid Al Jaafar (Västerås) Title: Capital Investment Procedures for FEMYSO Problem Area: Undertaking an investment by FEMYSO involves weighing up the risk against the returns but still capital investment decision are still one of the most undertaken decisions by organization managers because it involves commitment of huge amount of mo...

  17. Investing in the Long Term

    Institute of Scientific and Technical Information of China (English)

    Valerie; Sartor

    2007-01-01

    Janice Dai is a senior executive at Harvest Fund Management Co.Ltd.,one of China’s top fund management compa- nies,managing fixed income market investments across the country.She also leads her company’s overall institutional investments.Recently she agreed to talk about her company as well as comment on China’s booming financial indus- try,in the wake of overseas invest- ment bankers predicting tremen- dous returns on the Chinese main- land over the next few years.

  18. Mobilising Investment in Energy Efficiency

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-07-01

    Taxes, loans and grants, trading schemes and white certificates, public procurement and investment in R&D or infrastructure: known collectively as 'economic instruments', these tools can be powerful means of mobilising the finances needed to achieve policy goals by implementing energy efficiency measures. The role of economic instruments is to kick-start the private financial markets and to motivate private investors to fund EE measures. They should reinforce and promote energy performance regulations. This IEA analysis addresses the fact that, to date, relatively little effort has been directed toward evaluating how well economic instruments work. Using the buildings sector to illustrate how such measures can support energy efficiency, this paper can help policy makers better select and design economic instruments appropriate to their policy objectives and national contexts. This report’s three main aims are to: 1) Examine how economic instruments are currently used in energy efficiency policy; 2) Consider how economic instruments can be more effective and efficient in supporting low-energy buildings; and 3) Assess how economic instruments should be funded, where public outlay is needed. Detailed case studies in this report assess examples of economic instruments for energy efficiency in the buildings sector in Canada (grants), France (tax relief and loans), Germany (loans and grants), Ireland (grants) and Italy (white certificates and tax relief).

  19. Sawteeth stabilization by energetic trapped ions

    International Nuclear Information System (INIS)

    Samain, A.; Edery, D.; Garbet, X.; Roubin, J.P.

    1991-01-01

    The analysis of a possible stabilization of sawteeth by a population of energetic ions is performed by using the Lagrangian of the electromagnetic perturbation. It is shown that the trapped component of such a population has a small influence compared to that of the passing component. The stabilization threshold is calculated assuming a non linear regime in the q=1 resonant layer. The energetic population must create a stable tearing structure if the average curvature effect on thermal particles in the layer is small. However, this effect decreases the actual threshold

  20. Atmospheric CO2 enrichment alters energy assimilation, investment and allocation in Xanthium strumarium.

    Science.gov (United States)

    Nagel, Jennifer M; Wang, Xianzhong; Lewis, James D; Fung, Howard A; Tissue, David T; Griffin, Kevin L

    2005-05-01

    Energy-use efficiency and energy assimilation, investment and allocation patterns are likely to influence plant growth responses to increasing atmospheric CO2 concentration ([CO2]). Here, we describe the influence of elevated [CO2] on energetic properties as a mechanism of growth responses in Xanthium strumarium. Individuals of X. strumarium were grown at ambient or elevated [CO2] and harvested. Total biomass and energetic construction costs (CC) of leaves, stems, roots and fruits and percentage of total biomass and energy allocated to these components were determined. Photosynthetic energy-use efficiency (PEUE) was calculated as the ratio of total energy gained via photosynthetic activity (Atotal) to leaf CC. Elevated [CO2] increased leaf Atotal, but decreased CC per unit mass of leaves and roots. Consequently, X. strumarium individuals produced more leaf and root biomass at elevated [CO2] without increasing total energy investment in these structures (CCtotal). Whole-plant biomass was associated positively with PEUE. Whole-plant construction required 16.1% less energy than modeled whole-plant energy investment had CC not responded to increased [CO2]. As a physiological mechanism affecting growth, altered energetic properties could positively influence productivity of X. strumarium, and potentially other species, at elevated [CO2].

  1. Investment patterns in Dutch glasshouse horticulture

    NARCIS (Netherlands)

    Goncharova, N.

    2007-01-01

    Keywords: investment, uncertainty, investment spikes, entry, exit, duration model, GMM dynamic panel data estimator, Negative Binomial model, Heckman selection model, moving window ARIMA, Principal Component analysis, horticulture

    This thesis focuses on the analysis of investment

  2. The influence of anthropometric, kinematic and energetic variables and gender on swimming performance in youth athletes.

    Science.gov (United States)

    Morais, Jorge E; Garrido, Nuno D; Marques, Mário C; Silva, António J; Marinho, Daniel A; Barbosa, Tiago M

    2013-12-18

    (i) gender; (ii) performance and; (iii) gender versus performance interactions in young swimmers' anthropometric, kinematic and energetic variables. One hundred and thirty six young swimmers (62 boys: 12.76 ± 0.72 years old at Tanner stages 1-2 by self-evaluation; and 64 girls: 11.89 ± 0.93 years old at Tanner stages 1-2 by self-evaluation) were evaluated. Performance, anthropometrics, kinematics and energetic variables were selected. There was a non-significant gender effect on performance, body mass, height, arm span, trunk transverse surface area, stroke length, speed fluctuation, swimming velocity, propulsive efficiency, stroke index and critical velocity. A significant gender effect was found for foot surface area, hand surface area and stroke frequency. A significant sports level effect was verified for all variables, except for stroke frequency, speed fluctuation and propulsive efficiency. Overall, swimmers in quartile 1 (the ones with highest sports level) had higher anthropometric dimensions, better stroke mechanics and energetics. These traits decrease consistently throughout following quartiles up to the fourth one (i.e. swimmers with the lowest sports level). There was a non-significant interaction between gender and sports level for all variables. Our main conclusions were as follows: (i) there are non-significant differences in performance, anthropometrics, kinematics and energetics between boys and girls; (ii) swimmers with best performance are taller, have higher surface areas and better stroke mechanics; (iii) there are non-significant interactions between sports level and gender for anthropometrics, kinematics and energetics.

  3. An econometric analysis of a regional power company and evaluation of its investment policies by using optimal control technique: The case of New York State Electric and Gas Corporation

    Science.gov (United States)

    Guney, Esat Serhat

    1997-12-01

    This study, in its first part, explores the basic parameters of a power market in a utility district. The analysis of this market, naturally, includes a demand and a supply side and the interactions between the two. The econometric model is built to simulate the system of operations of one specific utility company, namely NYSEG (New York State Electric & Gas Corporation), one of seven major Investor-Owned-Utility Companies in New York State. The company serves about 17,000 square miles, or more than one third of the state's land, and one tenth of its population. The study uses time-series data covering 1960 to 1994 for more than fifty variables. The econometric analysis performs both single equation and system estimations and yields short-run vs. long-run and direct vs. total elasticity estimates, which are crucial for any producer in the market place. In the second part of this research, an optimal control procedure is used to evaluate NYSEG's investment policies retrospectively. For control calculations, a simplified linear version of the system of equations is used. Due to its constrained nature (both by being linear and having low degrees of freedom), the optimal control component mainly serves as an educational tool in microeconomic modeling. Lastly, we performed Exploratory Data Analysis for the data we employed. This was done to justify the use of certain parametric test procedures performed in the process basically by checking whether the implicit assumptions of normality and the randomness hold.

  4. Inconsistent Investment and Consumption Problems

    DEFF Research Database (Denmark)

    Kronborg, Morten Tolver; Steffensen, Mogens

    2015-01-01

    In a traditional Black–Scholes market we develop a verification theorem for a general class of investment and consumption problems where the standard dynamic programming principle does not hold. The theorem is an extension of the standard Hamilton–Jacobi–Bellman equation in the form of a system...... of non-linear differential equations. We derive the optimal investment and consumption strategy for a mean-variance investor without pre-commitment endowed with labor income. In the case of constant risk aversion it turns out that the optimal amount of money to invest in stocks is independent of wealth...... of future labor income net of consumption. Using the verification theorem we give a detailed analysis of this problem. It turns out that the optimal amount of money to invest in stocks is given by a linear function of wealth plus the financial value of future labor income net of consumption. The optimal...

  5. Mudaravila kinnistu arendajaks Alvarelli Invest

    Index Scriptorium Estoniae

    2007-01-01

    Pärnu mudaravila kinnistu 50-aastasest hoonestusõigusest oli huvitatud Andres Tiigi firma Alvarelli Invest. Firma peab 2009. a. suveks vana mudaravila restaureerima ja rajama sellele mere poole juurdeehitise

  6. Quality of investments in logistics

    Directory of Open Access Journals (Sweden)

    Borut Jereb

    2014-06-01

    Full Text Available The issue problem of paper is that base on researches connected with analysis of investments in logistics based on the review of 100 pooled manuscripts from different sources (scientific journals and online magazines from 1996 to 2012 it was showed that there don't exist quality as well as leadership has no a good overview of the investment in logistics. It was claimed that the quality point of view should be demanding part of investments in logistics. Val Log was proposed as an answer to the issues of managing quality of investments in logistics at the tactical level in organizations. By Val Log it is possible to overcome the myth that logistics projects cost money while business projects bring money. Val Log also provides detailed instructions for goals and metrics for each process. By doing changes the quality should be the obvious pillar of our affords doing it.

  7. Foreign direct investment in China

    OpenAIRE

    Bredero, Q.S.

    2007-01-01

    Foreign Direct Investment in China is one of the most comprehensive studies of FDI in China and provides a remarkable background of information on the evolution of China’s FDI policies over the last 30 years.

  8. (MFN) CLAUSE IN INVESTMENT TREATIES

    African Journals Online (AJOL)

    Fr. Ikenga

    favoured-nation' treatment (MFN) clause which seeks to grant to an investor from ... designed to take account of the special characteristics of international investment disputes ... it regularly publishes information about its activities and cases.

  9. Investing: reducing risks to enhance returns.

    Science.gov (United States)

    West, J; Glickman, S; Seidner, A G

    1996-09-01

    The financial assets of a healthcare organization can present many opportunities for investment. In order to develop a profitable investment program that avoids risky speculation, however, healthcare financial managers must fully understand the nature and risks of their organizations' investments. They must define and monitor their investment objectives, limitations, levels of acceptable risk and policies and conditions through a statement of investment policy and comprehensive investment guidelines.

  10. Research of relationship between uncertainty and investment

    Institute of Scientific and Technical Information of China (English)

    MENG Li; WANG Ding-wei

    2005-01-01

    This study focuses on revealing the relationship between uncertainty and investment probability through real option model involving investment critical trigger and project earning. Use of Matlab software on the experimental results showing that project earning volatility influences investment probability, led the authors to conclude that this notion is not always correct, as increasing uncertainty should have an inhibiting effect on investment, and that in certain situation, increasing uncertainty actually increases the investment probability and so, should have positive impact on investment.

  11. Corruption, public investment and growth

    OpenAIRE

    Tanzi, Vito; 中村, まづる

    1998-01-01

    Corruption, particularly political or “grand” corruption, distorts the entire decision-making process connected with public investment projects. The degree of distortions is higher with weaker auditing institutions. The evidence presented shows that higher corruption is associated with (i) higher public investment; (ii) lower government revenues; (iii) lower expenditures on operations and maintenance; and (iv) lower quality of public infrastructure. The evidence also shows that corruption inc...

  12. Sustainable Markets Investment Briefings: Overview

    Energy Technology Data Exchange (ETDEWEB)

    Cotula, Lorenzo

    2007-08-15

    This is the first of a series of briefings which discuss the sustainable development issues raised by legal arrangements for the protection of foreign investment. The briefings are based on legal research by IIED and its partners. The goal is to provide accessible but accurate information for human rights, development and environmental organisations working on issues raised by foreign investment in low- and middle-income countries. Briefing 1 provides a general overview of key issues.

  13. Investment in new product reliability

    International Nuclear Information System (INIS)

    Murthy, D.N.P.; Rausand, M.; Virtanen, S.

    2009-01-01

    Product reliability is of great importance to both manufacturers and customers. Building reliability into a new product is costly, but the consequences of inadequate product reliability can be costlier. This implies that manufacturers need to decide on the optimal investment in new product reliability by achieving a suitable trade-off between the two costs. This paper develops a framework and proposes an approach to help manufacturers decide on the investment in new product reliability.

  14. Spillovers from Foreign Direct Investment

    DEFF Research Database (Denmark)

    Meyer, Klaus E.; Sinani, Evis

    2005-01-01

    The extensive empirical literature analyzing productivity spillovers from foreign direct investment to local firms provides inconclusive results. Some studies find that foreign presence has a positive impact on the productivity of domestic firms, while others find no evidence or a negative effect...... for industrialized countries in the 1990s. Transition economies may experience spillovers, but these have been declining in recent years. Keywords: developing countries, transition economies, spillovers, foreign direct investment, technology transfer, meta-analysis...

  15. Law and Investment in Africa

    OpenAIRE

    Simplice A., Asongu

    2011-01-01

    Contrary to mainstream consensus on the dominance of English common law countries in investment prospects, this paper sets a new tone in the legal origins debate by providing empirical validity on the dominance of French civil-law countries in private investment. The assessment is based on 38 African countries for the period 1996-2007. The law mechanisms of regulation quality and rule of law are used to investigate how legal origins (French, English, French sub-Saharan, Portuguese and North A...

  16. Perspectives of the non-energetic use of lignite in Germany

    Energy Technology Data Exchange (ETDEWEB)

    Keller, D.; Sailer, B. [RWE Power AG, Essen (Germany)

    2013-11-01

    RWE Power AG as integral part of RWE Generation SE has been active in the development and commercialization of coal gasification routes for many years. RWE Generation SE is one of Europe's leading electricity producers and combines the expertise of the power plant specialists Essent (NL), RWE npower (UK) and RWE Power (D). A globally increasing freight traffic and accompanying fuel demand is anticipated in the future. This higher demand will probably result in an increase in crude oil price in the course of the next years. There will also be a disproportionately high increase in fuel prices additionally to the increase in the crude oil price due to an increasing treatment effort within refineries. Therefore the substitution of crude oil becomes more and more attractive in view of economical perspectives and security of supply. Crude oil is not only to be substituted as feedstock for fuels but also for the chemical industry. Coal has been and will be the most important feedstock for this. Especially its gasification enables various routes. In Germany there is also an interesting perspective for Coal-to-Liquids and Coal-to-Gas or CtL/CtG as the non-energetic use of coal is abbreviated. Lignite is available regardless of any market impacts and currently faces a change in its use for power generation due to the increasing use of renewable energies. Hence lignite is an attractive feedstock for CtL/CtG in Germany. The construction of a commercial size CtL/CtG plant means a billion Euro investment. So a reliable economic evaluation is inevitable. Today all CtL/CtG routes miss commercial competitiveness to the conventional production by some ten percents. In case the current upward price trend of crude oil continues CtL/CtG might become viable in the near future. The production of synthetic fuels appears most attractive in view of a substantial market potential. The further commercialization of gasification routes in Germany requires R and D activities especially

  17. Experimental evidence of population differences in reproductive investment conditional on environmental stochasticity

    Energy Technology Data Exchange (ETDEWEB)

    Gauthey, Zoé [INRA, UMR 1224, Ecologie Comportementale et Biologie des Populations de Poissons, Aquapôle, quartier Ibarron, 64310 Saint-Pée sur Nivelle (France); Univ Pau & Pays Adour, UMR 1224, Ecologie Comportementale et Biologie des Populations de Poissons, UFR Sciences et Techniques de la Côte Basque, Allée du parc Montaury, 64600 Anglet (France); Panserat, Stéphane [INRA, UR 107, Nutrition Metabolism Aquaculture, Aquapôle, 64310 Saint Pée sur Nivelle (France); Elosegi, Arturo [Faculty of Science and Technology, University of the Basque Country UPV/EHU, 48080 Bilbao (Spain); Herman, Alexandre [INRA, UR 107, Nutrition Metabolism Aquaculture, Aquapôle, 64310 Saint Pée sur Nivelle (France); Tentelier, Cédric [INRA, UMR 1224, Ecologie Comportementale et Biologie des Populations de Poissons, Aquapôle, quartier Ibarron, 64310 Saint-Pée sur Nivelle (France); Univ Pau & Pays Adour, UMR 1224, Ecologie Comportementale et Biologie des Populations de Poissons, UFR Sciences et Techniques de la Côte Basque, Allée du parc Montaury, 64600 Anglet (France); and others

    2016-01-15

    Environmental stochasticity is expected to shape life histories of species, wherein organisms subjected to strong environmental variation should display adaptive response by being able to tune their reproductive investment. For riverine ecosystems, climate models forecast an increase in the frequency and intensity of extreme events such as floods and droughts. The speed and the mechanisms by which organisms may adapt their reproductive investment are therefore of primary importance to understand how species will cope with such radical environmental changes. In the present study, we sampled spawners from two different populations of wild brown trout, originating from two environments with contrasting levels of flow stochasticity. We placed them in sympatry within an experimental channel during reproductive season. In one modality, water flow was maintained constant, whereas in another modality, water flow was highly variable. Reproductive investment of all individuals was monitored using weight and energetic plasma metabolite variation throughout the reproductive season. Only the populations originating from the most variable environment showed a plastic response to experimental manipulation of water flow, the females being able to reduce their weight variation (from 19.2% to 13.1%) and metabolites variations (from 84.2% to 18.6% for triglycerides for instance) under variable flow conditions. These results imply that mechanisms to cope with environmental stochasticity can differ between populations of the same species, where some populations can be plastic whereas other cannot. - Highlights: • We place two populations of brown trout under contrasting water flow for reproduction. • Energetic metabolite variation is used as a cue of reproductive investment. • In constant flow, both populations show the same reproductive investment. • In variable flow, only one of the populations modifies its reproductive investment. • Divergent evolution of reproductive

  18. Experimental evidence of population differences in reproductive investment conditional on environmental stochasticity

    International Nuclear Information System (INIS)

    Gauthey, Zoé; Panserat, Stéphane; Elosegi, Arturo; Herman, Alexandre; Tentelier, Cédric

    2016-01-01

    Environmental stochasticity is expected to shape life histories of species, wherein organisms subjected to strong environmental variation should display adaptive response by being able to tune their reproductive investment. For riverine ecosystems, climate models forecast an increase in the frequency and intensity of extreme events such as floods and droughts. The speed and the mechanisms by which organisms may adapt their reproductive investment are therefore of primary importance to understand how species will cope with such radical environmental changes. In the present study, we sampled spawners from two different populations of wild brown trout, originating from two environments with contrasting levels of flow stochasticity. We placed them in sympatry within an experimental channel during reproductive season. In one modality, water flow was maintained constant, whereas in another modality, water flow was highly variable. Reproductive investment of all individuals was monitored using weight and energetic plasma metabolite variation throughout the reproductive season. Only the populations originating from the most variable environment showed a plastic response to experimental manipulation of water flow, the females being able to reduce their weight variation (from 19.2% to 13.1%) and metabolites variations (from 84.2% to 18.6% for triglycerides for instance) under variable flow conditions. These results imply that mechanisms to cope with environmental stochasticity can differ between populations of the same species, where some populations can be plastic whereas other cannot. - Highlights: • We place two populations of brown trout under contrasting water flow for reproduction. • Energetic metabolite variation is used as a cue of reproductive investment. • In constant flow, both populations show the same reproductive investment. • In variable flow, only one of the populations modifies its reproductive investment. • Divergent evolution of reproductive

  19. China's Investment Leade Dr, Alyce Su

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ I. Professional Background Dr. Alyce Su specializes in investment managemeng, managing portfolios consisted of investment opportunities originated from China's growth and internationalization, both'outbound and inbound.

  20. Investments in liberalised power markets

    International Nuclear Information System (INIS)

    Grenaa Jensen, S.; Meibom, P.

    2005-01-01

    There is considerable uncertainty in the Nordic electricity system with respect to the long-term development in production capacity. The process towards liberalisation of the electricity sector started with a situation of a large capacity margin, but this margin is gradually vanishing. Since the potential investors in new production capacity are unaccustomed with investments under the new regime, it is unknown if and when investments will take place. The purpose of the present study is to analyze if and when investors choose to invest in new electricity production capacity depending on their existing portfolio of power producing units. Electricity price scenarios generated with a partial equilibrium model (Balmorel) are combined with a model of investment decisions. In this, various scenarios concerning the development in the Nordic power market, such as new transmission lines between neighbouring countries, more installed wind power, and changes in CO 2 emission trading costs, are used to investigate the consequences for investments in a natural gas fired, combined cycle power plant. The main result of the analysis is that new investments are highly sensitive to investors existing power production portfolio, as new production units affect the merit order in the power market, i.e. compete with the existing power plants. (au)

  1. Heat sources for heat pumps in the energetic and economic comparison; Waermequellen fuer Waermepumpen im energetischen und wirtschaftlichen Vergleich

    Energy Technology Data Exchange (ETDEWEB)

    Bockelmann, Franziska; Fisch, M. Norbert; Schlosser, Mathias; Peter, Markus [Technische Univ. Braunschweig (Germany). Inst. fuer Gebaeude- und Solartechnik

    2016-07-01

    Because of the growing application of heat pumps also the number of potentially usable low-temperature heat sources and corresponding heat exchangers for heat-pump systems present in the market increases. Thereby products like energy fences, high-power piles, ore ice reservoir come into applications without any knowledge ab out their power or the cost-profit ratio. The optimized lay-out of the coupling to the building are however essential conditions in order to reach an energy-efficient and durable operation of the facilities. The research project ''future heat pump'' sponsored by the BMWi is dedicated to the energetic and economic evaluation of heat sources for heat pumps. In this connection a pre-check-tool for the preliminary selection of low-temperature heat sources and connected, suitable heat-exchange systems is developed and their actual status of development presented. The holistic, comparing consideration of the different heat sources and heat-exchanger systems is related among others to the power numbers of the heat pumps, the entry and withdrawal services of the heat-exchangers, and the general performance of the systems. Additionally an estimation of economic and ecologic aspects (investment and operation costs, CO{sub 2} emissions) is made. Aim is the determination of the plausibility of applications and essential boundary conditions of single source systems. For the qualitative comparison in a project-accompanying monitoring different facilities and source systems are measurement-technically comprehended.

  2. Experience of Minas Gerais Energetic Company (CEMIG) in feasibility studies from hydroelectric power plants: energetic-economic studies

    International Nuclear Information System (INIS)

    Ramos, O.C.; Bras, A.J.F.; Batista Neto, R.P.; Salles Filho, M.P.

    1989-01-01

    The experience of Minas Gerais Energetic Company (CEMIG) - Brazil, on the use of dimensioning methodology for hydroelectric power plant from the Coordinated Group of Planning System was described, showing the problems with its use and the solutions, mainly the reservoir and the dimension of installed potential. It was concluded that the calculation procedures of the marginal costs for dimensioning, so as to become these costs more representative in future structure of the Brazilian generator park and less dependent to the oscillation due to conjuncture problems, must be re-evaluated. (C.G.C.). 7 refs, 3 figs, 1 tab

  3. New Physics with Energetic Top Quarks

    CERN Document Server

    Andeen, Timothy; The ATLAS collaboration

    2018-01-01

    Many theories beyond the Standard Model predict new phenomena which decay to energetic top quarks. Searches for such new physics models are performed using the ATLAS experiment at the LHC using proton-proton collision data collected in 2015 and 2016 with a center-of-mass energy of 13 TeV. Selected recent results will be discussed.

  4. Energetic utilisation of biomass in Hungary

    International Nuclear Information System (INIS)

    Barotfi, I.

    1994-01-01

    Energetic utilisation of biomass has been known since prehistoric times and was only pushed into the background by the technological developments of the last century. The energy crisis and, more recently, environmental problems have now brought it back to the fore, and efforts are being made worldwide to find modern technical applications for biomass and contribute to its advance. (orig.) [de

  5. Energetic utilization of dietary fiber in pigs

    NARCIS (Netherlands)

    Rijnen, M.M.J.A.

    2003-01-01

    The energetic utilization of fermentable dietary fiber (fDF) of different fiber sources and its relation to physical activity and housing conditions was studied in three experiments. In all experiments the daily intake of digestible nutrients, nitrogen and energy balances, heat production, and

  6. Radiation hormesis: an ecological and energetic perspective.

    Science.gov (United States)

    Parsons, P A

    2001-09-01

    Organisms in natural habitats are exposed to an array of environmental stresses, which all have energetic costs. Under this ecological scenario, hormesis for ionizing radiation becomes an evolutionary expectation at exposures substantially exceeding background. This conclusion implies that some relaxation of radiation protection criteria is worthy of serious consideration. Copyright 2001 Harcourt Publishers Ltd.

  7. Energetic materials standards – Chemical compatibility

    NARCIS (Netherlands)

    Tuukkanen, I.M.; Bouma, R.H.B.

    2014-01-01

    Subgroup A Energetic Materials Team, SG/A (EMT), develops and maintains standards that are relevant to all life-cycle phases of ammunition/weapon systems. STANAG 4147 is the standard regarding chemical compatibility of explosives with munition components, and is a document of prime importance.

  8. Capturing the most energetic cosmic rays

    International Nuclear Information System (INIS)

    Mantsch, P.

    1999-01-01

    The methods of energy measurement applied to the most energetic cosmic rays are described. The rays are so rare that two gigantic systems of detectors are proposed to detect at least some of them (the Pierre Auger Project ). (Z.J.)

  9. Physics with energetic radioactive ion beams

    International Nuclear Information System (INIS)

    Henning, W.F.

    1996-01-01

    Beams of short-lived, unstable nuclei have opened new dimensions in studies of nuclear structure and reactions. Such beams also provide key information on reactions that take place in our sun and other stars. Status and prospects of the physics with energetic radioactive beams are summarized

  10. ENERGETIC CHARGE OF AN INFORMATION PROCESS

    Directory of Open Access Journals (Sweden)

    Popova T.M.

    2009-12-01

    Full Text Available Main laws of technical thermodynamics are universal and could be applied to processes other than thermodynamic ones. The results of the comparison of peculiarities of irreversible informational and thermodynamic processes are presented in the article and a new term “Infopy” is used. A more precise definition of “infopy” as an energetic charge is given in the article.

  11. Economic evaluation of investment in electricity conservation

    International Nuclear Information System (INIS)

    Becker, Nir; Fishman, Yaron; Lavee, Doron

    2008-01-01

    The paper presents an economic study of the potential for energy conservation in Israel. We analyze energy conservation policies targeted at the household sector, focusing on the economic feasibility of scrapping old household electrical appliances, and considering the effect of such policies at both the household and the macro-economic level. The results of our analysis show that the appliance that provides the most potential conservation is the air conditioner (used for both heating and cooling). A scrapping program for old air conditioners passes a cost benefit analysis (CBA) even when external benefits are excluded from the calculation. When external benefits are included, scrapping programs for both washing machines and dishwashers pass the test as well. According to our findings, the annual economic benefit of a program involving the scrapping of 100,000 air conditioners, 45,000 washing machines and 15,000 dishwashers per annum over 10 years ranges from 246 million New Israeli Shekels (NIS) in the first year of implementation to 693 million in the tenth year. Most of the savings are derived from the scrapping of air conditioners

  12. Influence of vegetation in the energetic balance outdoor urban spaces: Analysis and evaluation of its microclimatic effect; Influencia de la vegetacion en el balance energetico de los espacios exteriores urbanos: Analisis y evaluacion de sus efectos microclimaticos

    Energy Technology Data Exchange (ETDEWEB)

    Ochoa, J. Manuel [Universidad de Sonora, Hermosillo, Sonora (Mexico); Roset, Jaume [Universidad Politecnica de Cataluna, Barcelona (Spain)

    2000-07-01

    We present design guidelines to detect and to control the energy fluxes within and urban space. The main purpose is to create outdoor spaces with appropriate comfort conditions and to improve energy efficiency of adjacent buildings, by modifying its surrounding areas, approaching outdoor environment to the desired indoor conditions. The design guidelines as well as the concepts developed on this paper are explained in a language familiar to architects, urban planners and landscape designers, which have to take energetic and bioclimatic decisions up the first stage of a project process. A case study analysis of an urban scenery is presented, and conclusions about the advantage of using the vegetation as an instrument of microclimatic control are given. [Spanish] En este articulo se presentan pautas de diseno, que estan encaminadas, a saber detectar y en caso necesario reconducir, los flujos de energia dentro del espacio urbano. El proposito es crear espacios exteriores, con condiciones de confort ambiental, adecuadas a los usuarios de dicho espacio y por otro lado, mejorar la eficiencia energetica de los edificios, al modificar su entorno inmediato. Tanto las pautas de diseno, como los conceptos desarrollados en este trabajo, estan explicados con un discurso orientado al lenguaje de los profesionales dedicados al diseno urbano, arquitectonico y del paisaje, que son quienes deben hacer las consideraciones energeticas y bioclimaticas, desde las primeras etapas de un proyecto. Finalmente se presenta el ejemplo de un escenario urbano, donde se han realizado mediciones de los parametros climaticos, analizando cualitativa y cuantitativamente la influencia de la vegetacion y otros elementos del paisaje urbano sobre el microclima, y se dan conclusiones sobre la conveniencia de utilizar la vegetacion como un instrumento para el control microclimatico en los espacios exteriores urbanos.

  13. Exploring the Application of Capital Facility Investment Justification Model

    Directory of Open Access Journals (Sweden)

    Marijan Karić

    2013-07-01

    Full Text Available For decades now, the models for identifying and quantifying the level of risk of investment projects and investment justification evaluation have been the subject of investigation by members of professional and research communities. It is important to quantify the level of risk because by evaluating investment justification in terms of the risks involved, the decision-maker (investor is able to choose from available alternatives the one that will achieve the most favourable ratio of expected profit to the assumed risk. In this way, the economic entity can raise its productivity, profitability and the quality of business operation in general. The aim of this paper was to investigate the extent to which medium and large companies have been using modern methods of investment justification evaluation in their decision-making process and determine the level of quality of the application of the selected methods in practice. The study was conducted on a sample of medium and large enterprises in the eastern Croatia during 2011 and 2012, and it was established that despite the fact that a large number of modern investment project profitability and risk assessment models have been developed, the level of their application in practice is not high enough. The analyzed investment proposals included only basic methods of capital budgeting without risk assessment. Hence, it was concluded that individual investors were presented with low-quality and incomplete investment justification evaluation results on the basis of which the decisions of key importance for the development of the economic entity as a whole were made. This paper aims to underline the need for financial managers to get informed and educate themselves about contemporary investment project profitability and risk assessment models as well as the need to create educational programmes and computer solutions that will encourage key people in companies to acquire new knowledge and apply modern

  14. Recent progress of hybrid simulation for energetic particles and MHD

    International Nuclear Information System (INIS)

    Todo, Y.

    2013-01-01

    Several hybrid simulation models have been constructed to study the evolution of Alfven eigenmodes destabilized by energetic particles. Recent hybrid simulation results of energetic particle driven instabilities are presented in this paper. (J.P.N.)

  15. Advances in magnetospheric physics, 1971--1974: energetic particles

    International Nuclear Information System (INIS)

    West, H.I. Jr.

    1974-12-01

    An account is given of energetic particle research in magnetospheric physics for the time period 1971--1974. Emphasis is on relating the various aspects of energetic particles to magnetospheric processes. 458 refs. (U.S.)

  16. Condition to be fulfill for nuclear energetics to be competitive on the base of 16. Congress WEC in Tokyo, Seminar NG NPP'96 in Warsaw and Conference ENS TOPNUX'96 in Paris

    International Nuclear Information System (INIS)

    Marecki, J.

    1997-01-01

    The state and developing trends of nuclear energetics have been presented for the period 1970-1990. The economical analysis taking into account actual prices and predicted for near future has been done. The investment and exploitation costs have been discussed and compared with classic methods of energy generation. It has been concluded that nuclear energetics will be one of the most promising options for future development of world energetics when all aspects (economic, technical, ecological) of the problem have been taken into consideration

  17. Economic crisis: prelude to an energetic crisis?

    International Nuclear Information System (INIS)

    Chevallier, B.

    2009-01-01

    Recession due to the financial crisis of 2008 has stopped the world economic development and the hydrocarbons sector too. Collapse of prices, cancellation of investments, reach of a 'peak demand', the four speeches which are given here, describe these impacts and their consequences; but in scrutinizing the incentives of the crisis, they show the new role of petroleum: pretext value against the weakness of dollar and the inflation risks, speculative value for the investment funds. (O.M.)

  18. Integrated Portfolio Analysis: Return on Investment and Real Options Analysis of Intelligence Information Systems (Cryptologic Carry On Program)

    National Research Council Canada - National Science Library

    Rios, Jr., Cesar G; Housel, Thomas; Mun, Johnathan

    2006-01-01

    ...) on individual projects, programs, and processes within a portfolio of IT investments. Using KVA historical data as a platform, the authors evaluate potential strategic investments with real options analysis...

  19. Capital optimization: linking investment with strategic intent.

    Science.gov (United States)

    Fine, Allan; Bacchetti, J Alex

    2004-01-01

    With operating margins showing some improvement in 2003, Y2K being a distant memory, and many critical capital investment decisions delayed as long as possible, hospitals have been on a relative spending spree, building new facilities, renovating operating rooms and inpatient units, and investing in new medical and information technologies. However, with pressure on both cost and revenue expected to continue, if not increase, this spending spree may be short-lived, and hospitals must improve their capital planning efforts; align them with their mission, vision, and strategies; and ensure that capital is available when unplanned or even expected needs arise. This article explores some of the challenges that hospitals face in their capital planning efforts and, more importantly, suggests the necessity for hospitals to integrate capital and strategic planning. Capital planning must be driven by an organization's strategies; however, we also argue that an organization's ability to execute its strategies is highly dependent on the existence of a cohesive capital prioritization and planning process. In this article, we explore a number of issues critical to developing a comprehensive capital plan, including estimating capital costs, evaluating and designing strategies to contend with risk, saving for the proverbial "rainy day," and recognizing the role and value of philanthropy, while challenging some conventional thinking of hospital executives with respect to investment, growth, and planning.

  20. Assessment of accident energetics in LMFBR core-disruptive accidents

    International Nuclear Information System (INIS)

    Fauske, H.K.

    1977-01-01

    An assessment of accident energetics in LMFBR core-disruptive accidents is given with emphasis on the generic issues of energetic recriticality and energetic fuel-coolant interaction events. Application of a few general behavior principles to the oxide-fueled system suggests that such events are highly unlikely following a postulated core meltdown event